Nvidia(US:NVDA) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-05 16:06Economic Data - The U.S. non-farm payroll data for August showed an increase of only 22,000 jobs, significantly below the market expectation of 75,000 [2] - The unemployment rate rose to 4.3%, marking the highest level since 2021 [2] Stock Market Reaction - Following the disappointing employment data, U.S. stock indices initially opened higher but later experienced a decline, with the Dow Jones down 0.82%, Nasdaq down 0.69%, and S&P 500 down 0.75% [2][3] - The Nasdaq 100 index reversed its earlier gains, while the Chinese concept stocks showed resilience, with the Nasdaq China Golden Dragon Index up 0.55% [2][3] Bond Market - The yield on the 10-year U.S. Treasury bond fell over 8 basis points to 4.08%, reaching a four-month low [11][12] - The decline in bond yields is attributed to the weak labor market data, leading traders to anticipate further interest rate cuts by the Federal Reserve [9][15] Commodity Market - Gold prices surged, reaching a new record high of $3,590.93 per ounce, with an intraday increase of 1.29% [7] - Crude oil prices also fell, with NYMEX WTI down 2% to $62.17 per barrel [12] Federal Reserve Outlook - The weak labor market data has led to a consensus that the Federal Reserve is likely to resume interest rate cuts later in September [14][15] - Analysts suggest that the combination of tariff uncertainties, immigration changes, and the rise of AI applications is contributing to a weakening labor market [15]