美股巨震，中国资产大涨

Core Viewpoint - The Federal Reserve's decision to cut interest rates by 25 basis points aligns with market expectations, indicating potential further cuts later this year as the economy faces rising risks [5][6]. Market Performance - On Wednesday, U.S. stocks showed mixed results with the Dow Jones rising by 260.42 points (0.57%) to 46018.32, while the Nasdaq fell by 0.33% to 22261.33, and the S&P 500 decreased by 0.10% to 6600.35 [2]. - The financial sector led the gains, while the technology sector experienced declines [2]. Technology Stocks - Performance among major tech stocks was varied, with Nvidia down 2.6%, Oracle down 1.7%, Amazon down 1.0%, Google down 0.6%, Meta down 0.4%, while Microsoft and Apple saw slight increases of 0.2% and 0.3% respectively [3]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 2.8%, with Baidu increasing over 11%, and Bilibili, Alibaba, JD.com, and NetEase also showing gains [4]. Federal Reserve Insights - The Federal Reserve lowered the benchmark interest rate to a range of 4.00%-4.25% and acknowledged rising risks in the job market [5]. - The latest dot plot indicates two more 25 basis point cuts this year and an additional cut next year [6]. - Fed Chair Powell described the rate cut as a risk management measure, highlighting a shift in the economic risk landscape [5][6]. Bond Market - Long-term U.S. Treasury yields rose, with the 10-year yield increasing by 4.2 basis points to 4.06% and the 2-year yield rising by 3.5 basis points to 3.54% [6]. Banking Sector - Bank stocks performed well, with Wells Fargo, Goldman Sachs, Bank of America, and Citigroup all rising over 1% [7]. Economic Data - In August, U.S. new home starts fell to an annualized rate of 1.3 million, down 3.7% from July, missing market expectations [8]. - Building permits also decreased from 1.362 million in July to 1.312 million, marking the lowest level since May 2020 [8]. Commodity Prices - International oil prices declined, with WTI crude oil down 0.73% to $64.05 per barrel and Brent crude down 0.76% to $67.95 per barrel [9]. - Gold prices experienced fluctuations, with COMEX gold futures for September delivery down 0.19% to $3681.80 per ounce [10].