Hua Er Jie Jian Wen·2025-09-03 23:25Market Overview - The US JOLTS job openings data showed weakness, reinforcing expectations for interest rate cuts, leading to a 1% increase in the Nasdaq, while the Dow Jones fell by 0.05% despite a late rally [2] - Major US tech stocks led the market, with Apple rising by 3.8% and Google soaring by 9% after a court ruling that Google does not need to sell its Chrome browser [2] - US Treasury yields fell across the board, with the 10-year yield dropping over 4.2 basis points, and the 30-year yield briefly touching 5% before declining [2] - Gold prices hit a new all-time high, rising over 1.2% for seven consecutive days, while silver surpassed $41 for the first time in 14 years [2] - Oil prices fell by over 2.5% amid reports that OPEC+ will consider a new round of production increases [2] Key Developments - The US August tariffs exceeded $31 billion, marking a historical high, with total tariffs for the fiscal year reaching $183.56 billion [14] - The US July JOLTS job openings fell to 7.181 million, the lowest in 10 months, indicating a significant drop in job vacancies since the pandemic began [13] - The Eurozone's August PMI was slightly revised down, with Germany's services sector unexpectedly contracting [14] - Global bond sell-off intensified, with the 30-year US Treasury yield surpassing 5%, and yields in the UK and Japan also rising [14] Technology Sector - Wall Street expects the iPhone 17 to maintain its price, with the iPhone 17 Air being a key highlight due to its thin design [15] - Citigroup noted that the iPhone 17 is unlikely to trigger a significant upgrade cycle, with the real catalysts expected to be in 2026 [15] - Google is accelerating the deployment of its TPU AI chips, intensifying competition with Nvidia in the AI chip market [16] - OpenAI has expanded its secondary share sale to $10.3 billion, with a valuation soaring to $500 billion [16] Energy Sector - OPEC+ is set to hold a meeting to decide on oil production for October, with a potential increase of 1.65 million barrels per day on the table [17] Domestic Developments - China's August services PMI rose to 53, the highest since May of last year, with new orders increasing for the second consecutive month [18] - The Chinese Ministry of Commerce announced anti-dumping duties on US optical fiber companies, with rates as high as 78.2% [18] - Goldman Sachs executives believe there is still room for growth in the Chinese stock market, citing improved sentiment and inflows from hedge funds [19]