Hot news

• Federal Reserve board member Waller: The time has come and he has an open attitude towards a larger rate cut.

Federal Reserve board member Waller said on Friday that the "timing is right" to start a series of rate cuts this month, and added that he has an open attitude towards the scale and pace of rate cuts. In the speech draft released, Waller pointed out, "If the data supports consecutive rate cuts, then I believe consecutive rate cuts are appropriate. If the data indicates the need for a larger rate cut, then I will also support it. When inflation accelerates in 2022, I strongly advocate for raising interest rates in advance, and now if it is appropriate, I will support an early rate cut."

• Goldman Sachs: Federal Reserve leadership believes that a 25 basis point rate cut in September is the baseline scenario.

The August non-farm payrolls were mixed, and the extent of the rate cut in September is still uncertain. Goldman Sachs interpreted from statements by Fed officials that a 25 basis point rate cut in September is the baseline scenario, but if the labor market continues to deteriorate, they are willing to cut rates by 50 basis points in subsequent meetings. Goldman Sachs said that Waller's description of the U.S. economy is quite positive. Waller believes that overall economic data indicate a stable labor market and economic performance. In addition, in Goldman Sachs' view, the remarks of the Fed's third-in-command Williams seem to be in line with this.

• Deutsche Bank: A "cliff-like" decline in non-farm payrolls is the start of an economic recession.

The U.S. non-farm payrolls in August of 0.142 million was lower than the expected 0.165 million, and the previous value was also significantly revised downward, adding to signs of a slowdown in the labor market. However, some believe that a "cliff-like" decline in non-farm payrolls is the start of an economic recession. On September 6, Deutsche Bank released a research report where strategist Jim Reid found that reviewing the 13 economic recessions in the United States after World War II, there is a clear pattern: the start of an economic recession is generally highly consistent with the month when (non-farm) employment data first turns negative; if monthly job growth remains above 0.1 million, there is no need to worry.

• US stocks may face the "most difficult stage" in an election year.

According to Goldman Sachs statistics, in the presidential election year in the United States, stocks reach their peak before Labor Day, then decline all the way until the election, and then soar again (blue line).

• The US presidential election is heating up! The 'Hart Debate' is the focus.

The global attention is also focusing on the US presidential election, which will feature heavyweight programs this week. The two presidential candidates from the two major parties in the United States, Kamala Harris and Donald Trump, will participate in a debate hosted by ABC News on September 10 (September 11, 09:00 Beijing time). Earlier, Trump refused to debate, but later changed his attitude. Analysts believe that Trump hopes to regain attention through the debate and prevent Harris from gaining momentum. The latest polls show that Harris is slightly ahead of Trump in several swing states.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• The Nasdaq fell 5.77% last week, and Broadcom had its worst single-day performance in over 4 years.

The US August non-farm employment figures fell short of expectations, with the three major US stock indices collectively declining. The Nasdaq fell by 2.55%, accumulating a 5.77% drop last week, marking the second consecutive weekly decline, achieving the largest single-week decline since January 2022.$S&P 500 Index (.SPX.US)$Dropping by 1.73%, accumulating a 4.25% decline last week; the Dow fell by 1.01%, accumulating a 2.93% decline last week. The S&P 500 Index and the Dow both experienced the largest single-week decline since March 2023, ending the three-week uptrend.

Large-cap tech stocks fell across the board, with Tesla falling over 8%, Google and Nvidia falling over 4%, Amazon and Meta falling over 3%, Netflix and Intel falling over 2%, Microsoft falling over 1%, and Apple slightly declining. Broadcom fell more than 10%, marking its worst single-day performance since March 2020.

Many china concept stocks fell, with the Nasdaq Golden Dragon Index down 0.77%, accumulating a 0.83% decline for the week. Xpeng dropped more than 3%, while iQIYI, Li Auto, Baidu dropped more than 2%. Bilibili, Alibaba, Weibo, JD.com, Tencent Music dropped more than 1%, and NetEase saw a slight decline. Nio rose over 3%, and Manbang rose over 1%.

• NVIDIA's market value evaporated more than $400 billion in a week.

As the "most important stock on earth" in Wall Street's eyes, $NVIDIA (NVDA.US)$ the market value of NVIDIA has evaporated approximately $406 billion last week, according to market data. In the past 30 trading days, NVIDIA's stock price has fluctuated significantly between $90.69 and $131.26. The market value decline on Tuesday (evaporating $279 billion) reached an unprecedented level for a single stock in the U.S. Numerous signs indicate that people's concerns about the health of the U.S. economy and the potential impact on AI trading are spreading rapidly.

• Broadcom plummeted by over 10% after the earnings release.

$Broadcom (AVGO.US)$ The growth rate of chip business revenue in the third quarter slowed down, and the fourth quarter revenue guidance fell short of expectations. It fell 10.36% last Friday, marking the largest single-day decline since March 2020, with a trading volume of $10.617 billion. Broadcom fell by 15.9% last week, marking the second consecutive week of declines.

• The annual Apple event is just around the corner, focusing on the 'highlight moments'.

At 1:00 am on Tuesday, Beijing time, $Apple (AAPL.US)$ The most important product launch event of the year will be held, during which the latest iPhone 16 series will be unveiled, and major updates for Apple Watch and AirPods will be announced. Apple's artificial intelligence tool, Apple Intelligence, will also take a prominent position. The theme of this event is the 'Shining Moment'.

• Apple will adopt the ARM V9 architecture in the new generation of iPhone chips

According to the Financial Times, $Apple (AAPL.US)$ will be used in the new generation of iPhone $Arm Holdings (ARM.US)$ The latest V9 chip design marks a new step in introducing artificial intelligence features into their smartphones. Adopting the V9 chip design is good news for Arm, which has a long-standing licensing agreement with Apple. Rene Haas, CEO of Arm, previously stated that the licensing fees brought by V9 are twice as high as the previous generation V8. Arm introduced the V9 architecture in 2021. The current iPhone 15 Pro series from Apple uses the Arm's previous generation V8 architecture for the A17 Pro chip.

• Elon Musk responds to tesla's declining market share in china.

According to the data, $Tesla (TSLA.US)$ the share of electric vehicles in the Chinese market has decreased from 9% a year ago to 6.5% in July this year, and Tesla has not released any new electric vehicles in China since 2019. In response, Tesla CEO Elon Musk called it "stupid" and emphasized that the Tesla Shanghai Gigafactory is operating at maximum capacity.

• The sales momentum of electric vehicles is slowing down, and Toyota has lowered its expected production of electric vehicles for 2026 by one-third.

The sales momentum of electric vehicles worldwide is weakening, and it affects the largest global auto manufacturer. $Toyota Motor (TM.US)$ Toyota currently plans to produce 1 million electric vehicles in 2026, while the company's previous sales target was 1.5 million vehicles. Toyota is not the first automaker to cut back on electric vehicle plans. Earlier this week, the Swedish automaker$Volvo AB Unsponsored ADR Class B (VLVLY.US)$Volvo has canceled its goal of achieving full electrification by 2030, stating that it is expected to still offer some hybrid models by then.

• US regulatory agencies have approved BlackRock's $12.5 billion acquisition of the global infrastructure partnership company's business.

The US Federal Energy Regulatory Commission, on September 6th, approved the $12.5 billion acquisition of the global infrastructure partnership company. $Blackrock (BLK.US)$ Earlier this year, global asset management giant BlackRock announced that it will acquire the global infrastructure partnership company for nearly $12.5 billion, marking a crucial step for the stock and bond investment behemoth towards infrastructure investment.

• The starting price is 0.2399 million yuan, and the sales of the Jike 7X exceeded 20,000 units in the first week of its release. The new car will officially go on sale on September 20th.

$ZEEKR (ZK.US)$ Officially released data showed that the orders for the Xpeng P7 have exceeded 20,000 units in the first week. The new car will be officially launched on September 20th, and mass deliveries will begin immediately. The officially announced starting price is CNY 2.399 million, and customers who pre-order before the launch will enjoy a limited-time exclusive benefit of a CNY 1,000 discount on the final payment.

If you want to play this game, you must believe in yourself and your judgment.

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• There is a significant performance differentiation, with many new car makers suffering losses in the first half of the year.

According to Securities Daily, as of September 6, the mid-year reports of five new car makers listed overseas in 2024 have been disclosed. From the financial data, in the first half of the year, they achieved a revenue of CNY 57.312 billion, which is far ahead of other new car makers. At the same time, Li Auto is the only new car maker that has achieved profitability. Comparatively, $LI AUTO-W (02015.HK)$ it achieved a revenue of CNY 57.312 billion, which is far ahead of other new car makers. At the same time, Li Auto is the only new car maker that has achieved profitability. Comparatively, $XPENG-W (09868.HK)$Please use your Futubull account to access the feature.$NIO-SW (09866.HK)$Please use your Futubull account to access the feature.$LEAPMOTOR (09863.HK)$ Both achieved reduced losses.

• JPMorgan: GTJA's stock swap merger with Haitong Securities expected to boost industry sentiment in the short term.

JPMorgan released a research report stating that $GTJA (02611.HK)$ Announced a merger by stock exchange, although it is expected that the return on investment and earnings per share of GTJA will inevitably be diluted, the successful completion of the transaction will be another major merger in the industry after the merger of Shenwan Hongyuan Securities and Hong Yuan Securities in 2014, which will help boost industry sentiment in the short term, and it is believed that there will be more similar transactions in the near future. $HAITONG SEC (06837.HK)$ Midea plans to issue 0.492 billion shares in its listing in Hong Kong, with a maximum price of HKD 54.8 per share.

• The Hong Kong Stock Exchange announced that it plans to issue 0.4921 billion H shares for listing in Hong Kong, with an expected issue price between HKD 52 and 54.8 per share, and pricing is expected to be confirmed on September 13 and trading is expected to begin on September 17 on the Hong Kong Stock Exchange.

$Midea Group Co. Ltd. (810542.HK)$ Chow Tai Fook and Chow Sang Sang are closing stores aggressively.

• Chow Tai Fook and Chow Sang Sang are closing stores aggressively.

$CHOW TAI FOOK (01929.HK)$ The company's operating data for the second quarter of this year shows that its retail sales for the second quarter fell sharply by 20% year-on-year. Among them, retail sales in mainland China fell by 18.6%, while Hong Kong, Macau, and other markets fell by 28.8%. To make matters worse, Chow Sang Sang has been constantly closing stores, with a net closure of 91 stores in the second quarter alone and a total of 180 stores closed in the first half of this year. $CHOW SANG SANG (00116.HK)$ Their situation is equally bleak. In the first half of this year, Chow Tai Fook's net profit attributable to shareholders fell by 36% to 0.526 billion Hong Kong dollars. Although they opened 25 new stores, they closed 47 stores during the same period.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

Keywords: China CPI, PPI, monetary and financial data; US wholesale sales rate in July;$Oracle Corp Japan (4716.JP)$financial report

In terms of financial data, key data releases include China's CPI, PPI, M2 money supply, US July wholesale sales month-on-month rate, US August New York Fed 1-year inflation expectations, Japan's revised Q2 real GDP annualized rate, and the Eurozone Sentix investor confidence index for September.

Regarding financial reports, in the post-market trading on Monday, the cloud computing company $Oracle (ORCL.US)$ will release the latest financial report.

Institutions predict that Oracle will achieve revenues of 13.244 billion USD in the first quarter of the 2025 fiscal year, an increase of 6.35% year-on-year; expected earnings per share of 0.90 USD, an increase of 4.72% year-on-year.

In addition, at 1:00 am on Tuesday, Apple will hold a new product launch event at its headquarters in Cupertino, California. On the same day at 14:30, Huawei will hold the Extraordinary Brand Ceremony and HarmonyOS Smart Mobility New Product Launch event.

Futubull Morning News:

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Editor/Emily