Group 1 - The report indicates that the U.S. economy showed resilience in Q2 with a GDP growth rate rebounding to 3.0% on a quarter-over-quarter annualized basis, while year-over-year growth remained steady at 2% [3][4][5] - The report highlights a significant drop in non-farm employment numbers for July, with only 73,000 jobs added, down from a revised 147,000 in June, indicating a potential weakening in the labor market [16][22] - The report notes that the U.S. inflation rate, as measured by the PCE index, has increased, with personal consumption expenditures rising from 4.66% to 4.75% year-over-year, suggesting some resilience in consumer spending [15][11] Group 2 - The report discusses the impact of tariff policies, indicating that the average effective tariff in the U.S. may rise to around 17% following the implementation of the latest tariffs, which could lead to an increase in inflation and a decrease in GDP growth [27][24] - The report mentions that the U.S. stock market has experienced volatility, with major indices like the Dow Jones, S&P 500, and NASDAQ seeing declines of 2.92%, 2.36%, and 2.17% respectively, reflecting market concerns over economic data [29][2] - The report suggests that the healthcare sector is one of the few areas showing positive performance in the Hong Kong stock market, while sectors like materials and technology are facing declines [2]