Nvidia(US:NVDA) Sou Hu Cai Jing·2025-08-31 16:28Economic Outlook - The private sector employment growth is expected to further slow down in August, with the unemployment rate remaining at 4.2% due to weak labor growth driven by a sharp decline in net immigration [1][4] - The Federal Reserve's independence is facing challenges, particularly from Trump, which is reflected in the steepening of the Treasury yield curve, increasing uncertainty in policy direction [1][4] Inflation and Consumer Spending - The July Personal Consumption Expenditures (PCE) index rose by 0.2% month-on-month, with a year-on-year increase of 2.6%, remaining stable compared to June [2] - Core PCE, excluding volatile food and energy prices, increased by 0.3% month-on-month and accelerated to 2.9% year-on-year, the highest level since February [2][3] - Consumer spending grew by 0.5% in July, indicating resilience in demand despite persistent inflation, although consumer confidence data from the University of Michigan fell short of expectations [2][3] Stock Market Trends - The recent week saw a net inflow of $571 million into U.S. equity funds, reversing the previous week's outflow of $2.39 billion [6] - The S&P 500 and Nasdaq indices experienced a four-month consecutive rise, although there was a late-week sell-off [5][6] - Concerns over the artificial intelligence sector have emerged, particularly following Nvidia's earnings report, which did not meet high investor expectations, leading to a 5% drop in the company's stock [6] Sector Performance - The utilities sector saw the largest decline at 2.1%, followed by consumer goods at 1.7% and industrials at 0.8%, while the energy sector rose by 2.5% [6] - The market is closely monitoring the performance of major technology stocks, especially in the AI industry, amid warnings of a potential AI bubble [6]