华尔街见闻早餐FM-Radio | 2025年8月2日

Market Overview - The U.S. non-farm payroll data for July showed an increase of only 73,000 jobs, significantly below expectations, leading to a sharp rise in interest rate cut expectations [10][12] - The unemployment rate rose to 4.2%, matching expectations, while the year-on-year wage growth increased from a revised 3.8% to 3.9% [10] - The ISM manufacturing PMI for July fell to 48, indicating the fastest contraction in nine months, with the employment index hitting a five-year low [11] - The S&P 500 index dropped 1.60%, marking a cumulative decline of 2.36% for the week, while the Nasdaq fell over 2% [6] Company News - Major tech companies like Microsoft, Alphabet, and Meta reported significant revenue growth, indicating that AI is beginning to generate profits, with their combined market value increasing by over $350 billion [14] - Amazon faced scrutiny regarding its position in the AI race, despite exceeding earnings expectations, as concerns about its cloud service growth persisted [22] - Tesla's July delivery numbers showed a 229% year-on-year increase for Xpeng, while NIO's deliveries were down 40% year-on-year [16] - The Chinese government announced the establishment of a macro-prudential and financial stability committee to maintain liquidity and support credit growth [9] Economic Policies - The U.S. government announced a new tariff structure, with rates varying based on trade relationships, impacting countries like Canada and India [19] - The Chinese central bank emphasized the need for a moderately loose monetary policy to support economic growth and stabilize the financial system [9] - The National Development and Reform Commission in China plans to implement measures to combat "involution" in competition and promote rational pricing [15]