华尔街见闻早餐FM-Radio｜2025年9月6日

Market Overview - US non-farm payroll data was disappointing, raising recession concerns and increasing expectations for interest rate cuts, with investors betting on three cuts by the Federal Reserve this year and a 50 basis point cut in September becoming more likely [1][5] - US stock indices opened high but fell back due to concerns that the Fed's actions may lag behind the economic situation, with the Nasdaq dropping over 1.5% from its daily high [1] - AMD shares fell by 6.58%, Nvidia dropped 2.7% to a near two-month low, while Broadcom surged over 9% and Lululemon plummeted 18% [1] - Robinhood was finally included in the S&P 500, rising nearly 8% after hours [1] - US Treasury yields fell across the board, with the 10-year yield dropping over 8 basis points, and the 2-year yield hitting its lowest level since 2022 [1] Commodity Market - Gold prices rose by 1.16%, reaching a record high of $3600 per ounce [3] - US oil prices fell by 2% to a three-month low [3] Asian Market - AH shares rebounded significantly, with the Shanghai Composite Index returning to 3800 points and the ChiNext Index rising over 6% [4] Regulatory News - The China Securities Regulatory Commission is seeking opinions on lowering the subscription and sales service fees for public funds to strengthen direct sales channels [22] Real Estate Market - Shenzhen's Luohu district and other areas have lifted purchase restrictions, allowing non-residents to buy two properties [23] Employment Data - The US added only 22,000 jobs in August, significantly below expectations, with the unemployment rate rising to 4.3%, the highest in nearly four years [5][23] - The non-farm payroll report almost guarantees a rate cut in September, but future rate cut discussions are expected to be more complex [23] Corporate Developments - Morgan Stanley identified Midea as the best stock in the Chinese home appliance sector, citing strong second-quarter results and a shareholder return plan of 6-7% [31] - OpenAI is reportedly set to produce its own AI chips in a $10 billion deal with Broadcom, reducing reliance on Nvidia [34] - Barclays noted that Amazon's AWS is underestimating its AI potential, with Anthropic's API business expected to grow significantly [34] International Developments - Japan announced a historic 6.3% increase in minimum wage, signaling a potential for quicker monetary tightening by the Bank of Japan [27] - Tesla's board proposed an unprecedented $1 trillion compensation plan for Elon Musk, contingent on performance targets [28]