Core Viewpoint - The article highlights key economic events and data releases for the week of September 8-14, focusing on China’s CPI, import/export data, and the U.S. CPI and PPI data, as well as significant corporate earnings reports from Oracle and Adobe [2][4][22]. Economic Data - China’s August import and export data will be released, with previous figures showing a 4.1% increase in imports and a 7.2% increase in exports in July [13]. - The U.S. will release its August CPI report on September 11, which is crucial for the Federal Reserve's policy direction, with expectations of a cooling job market impacting inflation [4][8]. - China’s August CPI is expected to drop to -0.4% due to high base effects and weak food prices, while PPI is also anticipated to show weakness [9][11]. Corporate Earnings - Oracle is set to release its earnings report on September 10, with strong future guidance expected, particularly in cloud infrastructure revenue, projected to grow over 70% by FY2026 [22]. - Adobe will also report earnings during this week, although specific details were not provided [2]. Political Events - In Japan, the deadline for the ruling Liberal Democratic Party to submit applications for an early leadership election is September 8, which could impact the yen depending on the outcome [20]. - France is facing a critical trust vote regarding its budget, which could lead to political instability and economic repercussions if the government fails to secure support [21]. Central Bank Decisions - The European Central Bank is expected to maintain its deposit rate at 2% during its upcoming meeting, reflecting a cautious approach amid ongoing trade disputes [14][15].

Group 1 - The core market contradiction revolves around "AI chips," with Broadcom's stock soaring due to a partnership with OpenAI, while Nvidia's stock fell, impacting the tech sector negatively [1][4] - Broadcom, a top-weighted stock in the S&P 500, will help OpenAI design and produce an AI chip starting in 2026, leading to a 9.4% increase in Broadcom's stock, while Nvidia's stock dropped by 2.70% [4] - The decline in Nvidia's stock also affected other tech stocks, with AMD down 6.6% and Microsoft down 2.6%, reflecting investor concerns over intensified competition in the AI chip sector [4] Group 2 - A disappointing U.S. employment report showed only 22,000 new jobs in August, far below the expected 75,000, and the unemployment rate rose slightly to 4.3% [5][6] - This weak employment data reinforced expectations that the Federal Reserve may lower interest rates in its upcoming meeting, but it also raised concerns about the overall economic condition [6] - Market reactions to potential rate cuts are mixed, with small-cap stocks benefiting, as seen by a 0.5% rise in the Russell 2000 index, while some strategists warn that rate cuts may not meet market expectations [6] Group 3 - There is increasing market divergence, with cyclical companies underperforming and energy and financial sectors both declining over 1.8% due to falling oil prices [7] - Amid economic uncertainty and geopolitical factors, investors are seeking safe-haven assets, pushing gold and gold mining stocks to new highs since 2011 [7] - Tesla's stock rose 3.6% following a proposal for a historic $1 trillion compensation package for CEO Elon Musk, while Lululemon's stock plummeted 19% after lowering its earnings outlook [7] Group 4 - The market will closely monitor upcoming CPI inflation data and Apple's annual iPhone launch event as key indicators for future trends [8]

Group 1 - Broadcom will design and produce AI chips for OpenAI starting in 2026, leading to a 9.4% increase in Broadcom's stock price [1][6] - Nvidia's stock fell by 2.70% due to concerns over increased competition in the AI chip market, negatively impacting the technology sector [1][6] - AMD's stock dropped by 6.6% and Microsoft's stock fell by 2.6% as a result of Nvidia's decline, indicating a broader impact on tech stocks [6] Group 2 - The U.S. non-farm payroll report showed only 22,000 new jobs in August, significantly below the expected 75,000, raising concerns about economic growth [4][7] - The unemployment rate slightly increased to 4.3%, and previous data was revised to show a contraction for the first time since 2020, intensifying recession fears [7] - Market reactions to potential Federal Reserve interest rate cuts are mixed, with small-cap stocks benefiting while larger economic concerns persist [7] Group 3 - There is a noticeable divergence in market performance, with cyclical companies underperforming and energy and financial sectors both declining over 1.8% [8] - Investors are increasingly seeking safe-haven assets like gold, pushing gold mining stock indices to their highest levels since 2011 [9] - Tesla's stock rose by 3.6% following a proposal for a $1 trillion compensation package for CEO Elon Musk, while Lululemon's stock plummeted by 19% due to lowered earnings outlook [9] Group 4 - The market is set to closely monitor upcoming CPI inflation data and Apple's annual iPhone launch event as key indicators for future trends [10]

Market Overview - The three major U.S. stock indices experienced slight declines, with the Dow Jones down 0.48% to 45,400.86 points, the S&P 500 down 0.32% to 6,481.5 points, and the Nasdaq down 0.03% to 21,700.39 points [3] - The S&P 500 reached an intraday record high of 6,532.65 points before closing lower [3] - Major technology stocks mostly fell, with Microsoft down over 2%, Amazon down over 1%, and Tesla up over 3% [9] Economic Data - The U.S. Labor Department reported that non-farm payrolls increased by 22,000 in August, significantly below the expected increase of 75,000, raising concerns about a potential recession [5] - The unemployment rate rose to 4.3%, the highest level since 2021, indicating a slowdown in the labor market [5] - The probability of a 25 basis point rate cut by the Federal Reserve in September is 88.3%, while the probability of a 50 basis point cut is 11.7% [5][6] Commodity Prices - WTI crude oil prices fell to their lowest level since May, with October futures down 2.5% to below $62 per barrel, marking a weekly decline of 3.3% [7] - Gold prices surged to a new all-time high, reaching $3,586.69 per ounce, driven by increased expectations of interest rate cuts [7] Tesla Developments - Tesla's board proposed a new compensation plan for CEO Elon Musk, with an estimated fair value of $87.75 billion for performance rewards tied to ambitious targets, including the delivery of 20 million vehicles by 2025 [11] - The board also plans to issue 60 million additional shares to employees and opposes a proposal to invest in X.AI [11] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 1.16%, with notable gains in several Chinese stocks, including a 15% increase for Canadian Solar and over 11% for Suzhou Dongshan Precision Manufacturing [11]

Market Overview - US stock market opened high but closed slightly lower, with major indices fluctuating due to mixed economic signals and expectations of Federal Reserve rate cuts [2][4] - Dow Jones Industrial Average fell by 220.43 points to 45400.86, a decrease of 0.48%; S&P 500 dropped by 20.58 points to 6481.50, down 0.32%; Nasdaq Composite decreased by 7.3 points to 21700.39, down 0.03% [2] Employment Data - August non-farm payrolls increased by only 22,000, significantly below the expected 75,000, with the unemployment rate rising to 4.3%, the highest since 2021 [4] - Bill Merz from Bank of America noted that the employment report confirms a slowing labor market, providing justification for potential rate cuts by the Federal Reserve [4] Sector Performance - Bank stocks led declines, with the S&P 500 bank index down 2.4%; real estate sector benefited from rate cut expectations, with the S&P real estate index up 1% [3] - Large tech stocks showed mixed results; Google rose over 1% to a new all-time high, while Microsoft fell over 2.5% and Amazon and Netflix dropped more than 1% [3] Chip Sector Highlights - Broadcom's stock surged over 9.4% to a new high after exceeding earnings expectations and announcing a partnership with OpenAI for AI chip production [3] - Micron Technology rose over 5%, while ASML and TSMC increased by more than 3%; however, Nvidia fell nearly 3% and AMD dropped over 6% [3] Commodity Market - International oil prices declined, with WTI crude oil futures down by $1.61 to $61.87 per barrel, a drop of 2.54%; Brent crude futures fell by $1.49 to $65.50 per barrel, down 2.22% [5] - COMEX gold futures rose by $46.60, or 1.29%, to $3653.3 per ounce, driven by weakened employment data reinforcing rate cut expectations [5]

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]

Market Overview - Despite positive non-farm payroll data suggesting potential interest rate cuts by the Federal Reserve, U.S. stock markets experienced a significant drop, with the Dow Jones Industrial Average falling over 200 points and the Nasdaq erasing an initial gain of approximately 1% [1][5]. Employment Data Impact - The U.S. economy added only 22,000 jobs in August, significantly below economists' expectations of 75,000, leading to an increase in the unemployment rate to 4.3% [6][8]. - Following the employment data release, traders adjusted their expectations for the Federal Reserve's upcoming policy meeting, with a likelihood of a 25 basis point rate cut on September 17 [6][7]. Stock Performance - The S&P 500 and Nasdaq indices had previously reached all-time highs, with the S&P 500 rising about 0.5% and the Nasdaq increasing approximately 0.8% before the downturn [5]. - Major tech stocks, including Nvidia and AMD, contributed to the market decline, with Nvidia dropping 3% and AMD falling 5% [9][10]. Company Highlights - Broadcom's stock surged nearly 9% after reporting quarterly earnings that exceeded Wall Street expectations, and the CEO announced a $10 billion custom AI chip order from a new client [15]. - Tesla's stock rose by 2% following the announcement of an unprecedented $1 trillion compensation plan for CEO Elon Musk [17][18].

当地时间9月5日，美国总统特朗普在其社交媒体"真实社交"上再次发文批评美联储主席鲍威尔"行动太 迟"，称其早就该降息，如今"又一次太迟了"。（央视新闻） ...

风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 特朗普：鲍威尔早就该降息了。 ...

非农数据出炉后，除非美国CPI数据出现极大意外，几乎没有其他因素能让美联储选择不降息。现在市场关注的焦点转向是否会一次性降息50基点。外汇交易员 (@myfxtrader):美国8月新增非农就业人数2.2万人，不及7.5万人的市场共识预期，同时失业率从4.2%升至4.3%，创4年新高。就业参与率62.3%符合预期。6月非农新增就业人数从1.4万人下修2.7万人至-1.3万人，7月人数从7.3万人上修0.6万至7.9万人，修正后合计较修正前低2.1万人。#行情 降息预期加强助推黄金走高20美元。 ...