Zheng Quan Shi Bao·2025-08-13 00:02Market Performance - US stock markets experienced a significant rally, with all three major indices closing up over 1%. The Nasdaq rose by 1.39%, the S&P 500 increased by 1.13%, and the Dow Jones gained 1.1%. Both the Nasdaq and S&P 500 reached all-time highs [2][3] - Major technology stocks saw widespread gains, with Intel rising over 5%, Meta increasing by over 3% (approaching a market cap of $2 trillion), and Apple, Microsoft, and Google each rising by more than 1%. Notably, Meta and Nvidia achieved new closing highs [2][3] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 1.49%, with several Chinese stocks performing well. Tencent Music surged nearly 12%, NIO increased over 11%, and other companies like Weibo, JD.com, and Alibaba rose over 3%. However, NIO fell nearly 9%, and XPeng Motors dropped over 6% [4] Inflation and Federal Reserve Expectations - The US Consumer Price Index (CPI) for July increased less than expected, leading to heightened market expectations for a Federal Reserve rate cut in September. The probability of a rate cut was raised from 85% to 91% according to the CME FedWatch tool, with increased expectations for cuts in October and December as well [6] Cryptocurrency Market - The cryptocurrency market saw a broad increase, with Bitcoin trading at $119,909.7 and Ethereum surpassing $4,600 for the first time since December 2021. Dogecoin also rose nearly 6%. Over the past 24 hours, more than 100,000 traders experienced liquidations [8][9] US National Debt - The total US national debt exceeded $37 trillion for the first time, reaching $37,004,817,625,842. This increase is attributed to the federal government accumulating debt at a record pace, raising concerns about the fiscal situation [10][11]