Despite the risk of the Delta epidemic, two of the Fed's main hawks have called for code reduction to be launched as soon as possible

On the eve of the Fed's annual Jackson Hole seminar, two leading Fed hawks urged policy makers to act quickly to slow the pace of asset purchases, despite the risks posed by the Delta-related outbreak.

"I don't think this has changed my own considerations, which means it's time to start making these adjustments, given the progress we've seen so far," Kansas City Fed President Esther George said in an interview on Wednesday night.

"I think it's important to get started, and I'd like to hear a debate about the conditions related to the pace of bond purchases and when they will end," George said. "but I'm not interested in postponing the decision."

St. Louis Fed President James Bullard echoed this view in an interview on Thursday, saying the impact of the Delta strain may be peaking.

"some on Wall Street seem to think the Delta numbers are reversing," Bullard said. "I don't know if we can say that, but it will peak at some point. The main message here is that the economy has learned to adapt to the epidemic. "

Blackrock, Chief Investment Officer of Global fixed income: it is reasonable for US stocks to hit new highs. It is too late for the Federal Reserve to tighten policy.

Rick Rieder, chief investment officer for global fixed income at Blackrock, said on Thursday that strong earnings and cash flow from major companies meant US stocks should be able to maintain record highs.

Rieder says he is not worried about the level of the stock market after a dramatic rise over the past year and a half.

"in fact, I don't think the stock market is high at all. I mean, if you look at some companies, the return on free cash flow is very high, "he said.

Federal Reserve Chairman Powell will speak at the annual meeting of the central bank in Jackson Hole on Friday. The market is watching closely to see if it will reveal when the Fed will start cutting back on asset purchases. Rieder said he thought it was too late for the Fed to tighten monetary policy and should try to speed up the pace of interest rate hikes. At present, many investors believe that the rate hike will happen in 2023.

Although the S & P 500 hit record highs in August, investors are increasing defensive hedging

The S & P 500 closed at a record high for 10 days in August, but strategists are divided on the outlook for the future. No wonder some investors are increasing defensive hedging.

Just look at the stock options. The cost of three-month put options versus call options in the S & P 500 has been rising since the end of June and is already above its five-year average.

Small-cap US stocks, which are usually more closely related to the economic cycle, are on track for their longest loss relative to the broader market since 2011.

These signs suggest that investors in pursuit of risky assets are increasing defensive hedging as delta spreads and Fed policy makers discuss weight reduction at Jackson Hole.

Francesco Sandrini, senior multi-asset strategist at Oriental Huili, said in an interview, "We continue to focus on risky assets, but hedging measures are in place because while macroeconomic conditions are still resilient, some problems may hinder very high valuations. We think this environment is very fragile. There is no doubt that monetary conditions are affecting economic growth. "

Us GDP growth in the second quarter was slightly revised up to 6.6 per cent to reflect stronger business investment and exports

Us economic growth improved slightly in the second quarter, reflecting stronger business investment and exports than preliminary estimates.

Inflation-adjusted gross domestic product (GDP) grew at an annualised rate of 6.6 per cent in the second quarter, compared with an initial growth rate of 6.5 per cent, according to data released by the commerce department on Thursday. Consumer spending increased by 11.9%.

The median estimate of the media survey is revised up to 6.7%.

The report also includes corporate profits in the second quarter. Pre-tax corporate profits grew at an annualised rate of 9.2%, up 43.4% from the same period last year.

Although the data show that the economy maintained strong growth towards the end of the first half of the year, supply and labour constraints still constitute economic resistance. Recent data showed a slowdown in retail sales and residential construction, while the Delta strain caused the rapid spread of the epidemic, adding to the uncertainty about the demand outlook.

IPhone 13 will be released soon, and Foxconn will hire another 200000 workers by the end of September.

According to reports, due to the upcoming release of iPhone 13, Wang Xue, deputy general manager of Foxconn's Zhengzhou plant, said recently that Foxconn needs to hire an additional 200000 workers to meet production demand by the end of September.

Wang Xue said in an interview that getting more manpower has always been the "biggest bottleneck" of Foxconn's Zhengzhou plant. The plant can accommodate up to 350000 assembly workers and can produce up to 500000 smartphones a day.

Usually, Apple Inc holds an autumn product launch every September to launch a new generation of iPhone phones. Last week, investment bank Wedbush Securities predicted that Apple Inc would release iPhone 13 in the third week of September this year.

To that end, Foxconn needs an additional 200000 workers by the end of September. Wang Xue said that at the current pace of recruitment, he is confident of achieving the staffing target. In addition to introducing a new rapid recruitment mechanism, Foxconn's recruitment plan is also supported by local governments. In addition, Foxconn also carried out COVID-19 virus testing at the scene to ensure personal safety.

Forbes announces merger with SPAC and listing on the New York Stock Exchange at the end of the year

Forbes Global Media Holdings Media, a longtime US business news and information publisher, announced today that it plans to go public through a merger with a "special purpose acquisition company" (SPAC).

Forbes said it would merge with Magnum Opus. After deducting tax breaks, the deal is worth about $630 million (enterprise value). The deal is expected to close at the end of the fourth quarter of this year or the beginning of the first quarter of next year.

After the transaction is completed, Forbes will trade on the New York Stock Exchange under the symbol "FRBS". The company's existing management team will remain, including CEO Mike Federer (Mike Federle). Forbes said the combined company will announce new board members at a later date.