Guo Ji Jin Rong Bao·2025-08-14 01:11Market Performance - On August 13, US stock indices collectively rose, with the Dow Jones up 1.04%, S&P 500 up 0.32%, and Nasdaq up 0.14%, marking new historical closing highs for Nasdaq and S&P 500 [1] Chinese Tech Sector - The Wande China Concept Technology Leaders Index surged over 4%, while the Nasdaq China Golden Dragon Index increased by more than 2%. Notable stock performances included Niu Technologies rising over 17%, Pony.ai up over 7%, and Alibaba, Baidu, and Li Auto each gaining nearly 4% [3] Cryptocurrency Market - The cryptocurrency market experienced significant gains, with Bitcoin surpassing $123,000, achieving a historical high and a 24-hour increase of over 2% [3] Federal Reserve Interest Rate Expectations - Market expectations for a Federal Reserve rate cut in September reached 100%, with Treasury Secretary Becerra suggesting a potential cut of 50 basis points due to weak employment data [3][4] - The CME FedWatch tool indicated a 99.9% probability of a 25 basis point cut during the September 16-17 meeting following the release of July CPI data and Becerra's comments [3] Employment Data Impact - Becerra's argument for a larger rate cut is based on revised labor statistics showing near stagnation in employment growth from May to July, contrary to earlier strong growth reports [3][4] - He noted that had the revised data been available in June, a rate cut might have already occurred [4] Diverging Views Among Fed Officials - Several Federal Reserve officials expressed caution regarding the rising expectations for rate cuts, with Chicago Fed President Goolsbee advocating for more economic data review before making a decision [4] - Atlanta Fed President Bostic indicated that if the labor market remains stable, a rate cut in 2025 could still be appropriate [4]