白宫，紧急“撤回”！美联储，新计划！

Market Performance - On September 26, the three major U.S. stock indices rebounded, with the Dow Jones rising by 0.65%, the Nasdaq increasing by 0.44%, and the S&P 500 gaining 0.59% [1][2] - The Dow closed at 46,247.29, the Nasdaq at 22,484.07, and the S&P 500 at 6,643.70 [2] Sector Performance - Major technology stocks mostly rose, with the "Seven Giants" index of U.S. tech stocks up by 0.46%. Notable individual stock movements included Tesla and Intel rising over 4%, while Oracle fell over 2% [2] - Chinese concept stocks mostly declined, with the Nasdaq Golden Dragon China Index down 1.56%. Significant declines were seen in stocks like Kingsoft Cloud (down over 10%) and NIO (down nearly 6%) [2] Economic Indicators - The U.S. core PCE price index for August rose by 2.9% year-on-year, aligning with market expectations and indicating a stabilization of inflation [3] - The likelihood of a Federal Reserve rate cut in October is estimated at 89.8%, with a 65.1% chance for December [3] Federal Reserve Insights - Federal Reserve Governor Bowman emphasized the fragility of the U.S. labor market and called for a firm approach to rate cuts, suggesting that the Fed should consider selling mortgage-backed securities [3][4] - There is increasing uncertainty within the Federal Reserve regarding the path of interest rates, with some officials advocating for continued rate cuts to mitigate employment risks [3] Trade Policy Developments - The U.S. administration announced that new tariffs on pharmaceuticals will not apply to countries with which the U.S. has trade agreements, including the EU and Japan [5] - President Trump announced new tariffs on various imports, including a 50% tariff on kitchen cabinets and a 100% tariff on patented and branded drugs starting October 1 [5][6] Price Impact - The furniture prices in the U.S. rose by 4.7% year-on-year as a result of tariff policies [6]