In July, the US stock market fluctuated. After reaching new highs at the beginning of the month, the S&P and Nasdaq markets turned downward as the market turned. Technology stocks suffered a sell-off.

However, at the end of the month, the market experienced a dramatic turning point. The signal of a rate cut in September released by Fed Chairman Powell and the strong performance report released by AMD jointly injected strong momentum into the market, pushing the S&P and Nasdaq to achieve their best single-day performance since February and marking the end of the entire July market.

Looking ahead to August, Bank of America said that the average monthly return rate of the S&P 500 Index in the fourth year of the presidential cycle showed a flat performance from January to May, rebounding in the summer from June to August, falling before the election in September and October, and rebounding after the election in November and December. The strongest month is usually August, with an average increase of slightly over 3% and a success rate of 71%.

For the market, there are still many heavyweight events worth paying attention to in August, including the performance of technology giants, minutes of the Federal Reserve meetings, and the annual Jackson Hole global central bank summit.

On August 2nd (after US market close on August 1st), Apple and Amazon will release their earnings;

On August 22nd, the Federal Reserve will release minutes of its monetary policy meeting;

Powell said that if inflation data supports it, FOMC will choose to cut interest rates as early as September, so this minutes will provide investors with more clues about future interest rate paths.

From August 22nd to 24th, the Jackson Hole Global Central Bank Annual Meeting will be held.

As an annual central bank event, it will undoubtedly affect the trend of the financial market, attracting the attention of global investors. It is believed that Powell may thoroughly convey the signal of the September action at the global central bank annual meeting.

On August 29th (after US market close on August 28th), the most important company on earth, Nvidia, will release its latest performance report.

In addition, a series of heavyweight economic data will also be released, including non-farm payrolls, CPI, PPI, PCE, and more.

Editor/Somer