Amazon(US:AMZN) Zhong Guo Zheng Quan Bao·2025-08-02 00:29Economic Overview - The U.S. employment data for July fell short of market expectations, leading to increased concerns about the economic outlook and a surge in expectations for a Federal Reserve rate cut in September [1][4] - The unemployment rate rose by 0.1 percentage points to 4.2% in July, with significant downward revisions to previously reported job growth for May and June, indicating a cooling labor market [4][5] Stock Market Reaction - All three major U.S. stock indices closed down on August 1, with the Dow Jones Industrial Average falling by 1.23%, the S&P 500 down by 1.6%, and the Nasdaq down by 2.24% [2][4] - Amazon's stock plummeted over 8% due to concerns regarding its cloud computing business's slower-than-expected profit growth [2][4] Market Sentiment - The CBOE Volatility Index, a measure of market fear, rose to 20.41 points, reflecting heightened risk aversion among investors [2][4] - Precious metal prices surged as investors sought safe-haven assets, with gold prices increasing by 2.22% and silver prices rising by 0.84% [3] Federal Reserve Expectations - The probability of a 25 basis point rate cut by the Federal Reserve in September jumped from 37.7% to 75.5% following the disappointing employment data [4][5] Political Developments - President Trump announced the dismissal of the head of the Bureau of Labor Statistics, Erica McEntyre, citing dissatisfaction with the employment data, which he accused of being manipulated for political purposes [5][6] - Federal Reserve Governor Adriana Kugler announced her resignation effective August 8, allowing President Trump to make new appointments to the Federal Reserve Board ahead of schedule [7]