非农数据预告美联储降息已成定局，美股走势再添变数

Group 1 - The latest employment report in the US was weaker than expected, leading Wall Street to believe that the Federal Reserve will lower interest rates this month [1][3] - The non-farm payroll report showed only 22,000 new jobs added last month, with the unemployment rate rising to its highest point in nearly four years, indicating a cooling labor market [3][4] - The market has fully priced in a 25 basis point rate cut in September, with expectations of a total reduction of 68 basis points by the end of the year [3] Group 2 - The 2-year and 10-year US Treasury yields fell for the third consecutive week, reflecting market assessments of a potential 50 basis point rate cut [4] - Concerns about consumer purchasing power due to tariffs and job security are increasing, as indicated by the weak employment report [4][6] - The upcoming consumer price index (CPI) data is expected to show a 0.3% increase, which may not hinder the Fed's decision to cut rates [5] Group 3 - Major US stock indices showed mixed performance, with the S&P 500 reaching a historical high before a sell-off occurred [6] - The communication services sector led gains with a 5.1% increase, while the energy sector fell by 3.5% due to declining oil prices [6] - Small-cap stocks are expected to benefit from the anticipated rate cuts, with significant buying activity observed in small-cap stocks and ETFs [7]