On September 25, local time, the three major U.S. stock indexes collectively closed down, and the performance of individual stocks was divergent. Concept stocks such as cryptocurrencies fell sharply, and concept stocks such as rare earths rose sharply. The Nasdaq China Golden Dragon Index closed higher. The U.S. GDP and core PCE price index in the second quarter were higher than expected, indicating that inflationary pressures are stubborn and may limit the Fed's room to cut interest rates. Some Fed officials have expressed concern about inflation and are cautious about cutting interest rates again in October.
by every editor.
On September 25, local time, the three major indices of the U.S. stock fell collectively, the Dow fell 0.38%, the Dow fell 0.5%, and the Sharp 500 index fell 0.5%.
On individual shares, Oracle fell more than 5%; Tesla fell more than 4%, market value evaporated $64.5 billion overnight (about RMB 46.2 billion); Meta fell more than 1%; Apple rose more than 1%.
According to the news, Intel has been contacted for Apple’s investment issues. This move is intended to strengthen the business base of this currently partly U.S. government-owned chip business. These sources say Apple and Intel have also discussed how to further deepen their cooperation. The talks are still in the early stages and will not necessarily reach an agreement. If the deal is reached, the deal will continue the recent wave of external investment in Intel: last week, NVIDIA announced a $5 billion investment and plans to cooperate with Intel on personal computers and data center chips last month, and Japanese tech giant SoftBank also announced a $2 billion investment in Intel.
Informed sources also said Intel has been in contact with a number of other companies for potential investments and cooperation.
Cryptocurrency, weight reduction drug concept shares fell in the front, Hut 8 fell over 7%, Circle fell over 5%, Nor Norwood, Coinbase fell over 4%, and Coinbase fell over 3%. Rare-earth concept, precious metals rose in the front, Hekla mining rose over 5%, American White Bank, Bixby, Critical Metals rose over 4%, American gold companies rose over 3%.
The Nasdaq China Golden Dragon Index closed up 0.42%, and most popular Chinese concept stocks rose. Weilai, Xiaopeng Motors, and Bilibili rose more than 4%, and Baidu and Li Auto rose more than 1%.
Rich time A50 period refers to a continuous night disk decline of 0.26%, reporting 15204 points.
COMEX gold futures rose 0.33%, $3780.5/ounce; COMEX silver futures rose 2.89%, $45.47/ounce.
WTI crude oil futures closed down 0.02% at $64.98 a barrel. Brent crude oil futures closed up 0.16% at $69.42 a barrel.
According to the Securities Times, in the evening of the 25th Beijing time, preliminary data released by the U.S. Bureau of Economic Analysis (BEA) showed that the U.S. real GDP quarterly ratio for the second quarter was 3.8%, higher than expected 3.3%, and the previous value was 3.3%.
In the second quarter, the U.S. Core Personal Consumer Expenditure (PCE) Price Index quarterly ratio ended at 2.6%, higher than expected at 2.5%, and pre-value at 2.5%.
Some analysts note that this strong report also shows that inflationary pressures are more stubborn than previously estimated.
The Wall Street agency noted that the latest released data could limit the Fed’s future interest rate reduction space.While the Fed lowered interest rates by 25 basis points last week and is expected to have two more interest rate cuts this year, some Fed officials have already expressed concern about inflationary pressures.
Atlanta Federal ReserveThe PresidentBostic said recently that he is more worried about inflation continuing to be higher than the Fed's 2% target. Although economic risks have turned to greater concerns about employment in recent months, inflation concerns have prevented him from supporting another rate cut in October for the time being.
According to the schedule, the monthly PCE data of the United States for August will be released on September 26, local time. Economists predict that the year-on-year growth rate of this indicator will be close to 3%.
Although the Fed's focus has shifted more to the job market, investors are still waiting to see the upcoming personal consumption expenditures (PCE) price index.
According to the Chinese newspaper, some analysts pointed out that the publication of strong GDP data "because of a lag-back indicator" is not likely to change the expected Fed interest rate reduction path.
Chris Larkin, of Morgan Stanley’s E*TRADE, said: “There may be cracks in the labor market, but if today’s data is based, these cracks have not expanded recently.
Fed Chairman Stephen Miran said the Fed could damage the economy if it didn’t cut interest rates faster.
The Fed said interest rates remained moderately tightened and that further interest rate cuts may be needed over time.
According to the CME “Federal Reserve Watch”: the probability of the Federal Reserve to keep the interest rate unchanged in October is 14.5%, the probability of a rate reduction of 25 basis points is 85.5%. The Fed’s probability ofining the interest rate unchanged in December is 4.3%, the probability of a cumulative rate reduction of 25 basis points is 35.4%, and the probability of a cumulative rate reduction of 50 basis points is 60.4%.
Daily Economic News Comprehensive Securities Times, China Fund Journal, Market Disclosure Information