Market Overview - After a rally driven by the Federal Reserve's interest rate cuts showed signs of fatigue, U.S. stocks fell for two consecutive days, leading the market into a brief stabilization period [1] - Investors are focusing on the upcoming release of Q2 GDP final data, PCE price index, and initial jobless claims this week to gauge the next direction for the stock market [1][5] U.S. Stock Performance - U.S. stock index futures showed little change after two days of pullback, with Intel's stock rising over 5% in pre-market trading due to reports of seeking investment from Apple [1][2] - Chinese concept stocks mostly rose, with XPeng Motors up 3.5% [2][7] - The S&P 500 index managed to break the trend of poor performance typically seen in September, but failed to gain upward momentum, raising concerns about a bottleneck in the current rally [5] Economic Indicators - Piper Sandler's Craig Johnson indicated that while the strong upward trend has not ended, the risk-reward situation is becoming tighter as stock prices rise and potential momentum weakens [6] - The core PCE price index for August is expected to rise by 0.2% month-on-month, lower than July's 0.3%, while the year-on-year increase is anticipated to remain at a high level of 2.9% [6] European Market Performance - European stock markets opened lower, with the pan-European STOXX 600 index down 0.5%, and both the German DAX and UK FTSE 100 indices down 0.4% [8] - The healthcare sector was notably affected, with Siemens Healthineers' stock dropping 6% following a new U.S. investigation into imports of medical supplies [8] Commodity Market Insights - Gold prices remain near record highs, supported by strong demand for traditional safe-haven assets amid geopolitical tensions and potential U.S. government shutdown risks [8] - Silver prices increased by 2%, reaching $44.82 per ounce [14] - Copper prices rose nearly 1%, hitting a new high of $10,457 per ton, the highest since May 2024 [11] Future Projections - Morgan Stanley predicts that gold prices could reach between $4,050 and $4,150 per ounce by mid-2026, driven by lower interest rates and strong central bank demand [9]
美股三大期指集体下跌，英特尔盘前涨超5%，欧股下跌，金银铜携手走高