Core Viewpoint - The lower-than-expected U.S. PPI data has no impact on the Federal Open Market Committee's (FOMC) decision, with a 25 basis point rate cut next Wednesday being almost certain [1] Group 1 - Michael Brown, a senior research strategist at Pepperstone, indicates that the market pricing shows a slight probability of a 50 basis point cut if CPI data is also weak [1] - There are upward price risks due to tariffs, and the current level of policy tightening remains uncertain [1] - The Federal Reserve is expected to restart the easing cycle at a more moderate pace during the September meeting [1]

Group 1 - The core point of the article highlights that the recent PPI data from the U.S. supports the Federal Reserve's decision to lower interest rates, with a 100% probability of a rate cut indicated by CME's FedWatch tool following the data release [1][2] - The U.S. August PPI increased by 2.6% year-on-year and decreased by 0.1% month-on-month, both figures falling short of market expectations, marking the first month-on-month decline in four months [1][2] - The core PPI, excluding food and energy, also showed a year-on-year increase of 2.8% and a month-on-month decrease of 0.1%, again below market expectations [1][2] Group 2 - Following the PPI data release, President Trump criticized Fed Chair Powell, claiming there is "no inflation" and demanding immediate significant rate cuts [2] - A federal judge temporarily blocked Trump's attempt to dismiss Fed Governor Cook, allowing him to participate in the upcoming Fed meeting, which may complicate Trump's influence over the Fed's rate decisions [2][3] - Analysts suggest that the PPI data and previous employment figures indicate a strong possibility of rate cuts, which could have profound implications for the U.S. stock market and economic performance [4] Group 3 - Despite the high probability of rate cuts, there is internal debate on Wall Street regarding the implications of such actions, with some analysts warning that aggressive cuts could signal a significant economic slowdown [4][5] - JPMorgan's trading team leader expressed caution, noting that rate cuts might trigger a "buy the rumor, sell the news" reaction, potentially leading to profit-taking among investors [5] - Jamie Dimon, CEO of JPMorgan, remains cautious about the U.S. economic outlook, citing uncertainties related to tariffs, immigration, and geopolitical factors [6]

Core Viewpoint - The recent decline in Bitcoin and Ethereum prices is attributed to negative PPI data, leading to significant liquidations in the market, with Bitcoin dropping from $124,500 to a low of $117,180 and Ethereum from $4,788 to $4,451, currently showing signs of a rebound [1][4][6]. Market Overview - In the last 24 hours, a total of 224,738 traders were liquidated, resulting in a total liquidation amount of $1.031 billion [1][2]. - Bitcoin's price is currently experiencing a rebound, but this is viewed as a temporary correction rather than a new upward trend, with significant resistance at $120,600 and key support levels at $116,188 to $115,188 [6][10]. Bitcoin Analysis - Bitcoin has faced pressure from the 4-hour Bollinger Bands, leading to a sharp decline after a brief rally, with critical support at $112,000 [4]. - The market is currently assessing two potential scenarios based on upcoming economic data, including PPI and unemployment claims, which could influence market direction [7][8]. Ethereum Analysis - Ethereum broke through a significant support level, causing a broader market sell-off, with key support now at around $4,450 [7]. - Two potential scenarios are outlined: a bullish breakout above the mid-line resistance or a continuation of the downward trend testing lower support levels [8][12]. Altcoin Market - Following the declines in Bitcoin and Ethereum, altcoins also experienced corrections, with many major altcoins dropping by 4-6% [11]. - The altcoin market remains heavily influenced by Ethereum, with several projects showing strong performance, although concerns exist regarding their relative strength compared to Ethereum [11].

Group 1 - Economists Marc Sumerlin and David Zervos are confirmed candidates for the position of Federal Reserve Chair, both advocating for aggressive interest rate cuts [1][2] - President Trump has indicated a potential early appointment of the next Federal Reserve Chair, narrowing the candidate list to three or four individuals [1] - Sumerlin believes that a 50 basis point rate cut is an obvious choice given the current yield structure, weak labor market, and stable inflation [2][3] Group 2 - Zervos argues that the Federal Reserve should decisively ease monetary policy to prevent a slowdown in the labor market and potentially create an additional one million jobs [4][5] - Zervos has consistently advocated for a 50 basis point cut in the federal funds rate during the last three Federal Reserve meetings [5] - Both candidates emphasize the importance of having individuals with market experience involved in monetary policy decisions [5]

Group 1 - Economists Marc Sumerlin and David Zervos have expressed interest in becoming the next Federal Reserve Chair, advocating for aggressive interest rate cuts [1][2] - President Trump has indicated he may appoint the next Fed Chair sooner than expected, narrowing the candidate list to three or four individuals [1] - Sumerlin believes that a 50 basis point rate cut is an obvious choice given the current yield structure, weak labor market, and stable inflation [2][3] Group 2 - Sumerlin emphasizes the importance of the Fed's independence, which has been questioned due to Trump's public criticism of current Chair Powell [3][4] - Zervos argues that the Fed should not be deterred by higher-than-expected Producer Price Index (PPI) data and should decisively ease monetary policy to prevent labor market slowdown [5][6] - Zervos supports a potential rate cut of 200 basis points, contingent on economic narratives surrounding AI and supply-side deflationary pressures [6]

Group 1 - The core point of the article highlights a significant increase in the U.S. Producer Price Index (PPI) for July, with the annual rate rising from 2.4% to 3.3% and the monthly rate increasing from 0.0% to 0.9%. The core PPI also saw a substantial rise from 2.6% to 3.7% annually and from 0.0% to 0.9% monthly [2] - The increase in PPI and core PPI may indicate a potential rebound in future Consumer Price Index (CPI) data, suggesting inflationary pressures could persist [2] - Following the PPI data release, market expectations for the Federal Reserve to resume interest rate cuts in September have diminished, introducing uncertainty into future monetary policy directions [2] Group 2 - The article suggests that despite a seemingly stable economic environment under President Trump's tariff and fiscal policies, significant uncertainties remain in international politics and trade relations, which could lead to unexpected events [3] - The outlook for the U.S. economy is portrayed as less optimistic than some economic data might suggest, indicating potential challenges ahead [3]

Core Viewpoint - The S&P 500 index futures declined by 0.4% following the release of the PPI data, reaching a pre-market low [1] Group 1 - The decline in S&P 500 index futures indicates market reaction to economic data [1]

Core Viewpoint - The S&P 500 index futures declined by 0.4% following the release of the Producer Price Index (PPI) data, reaching a pre-market low point [1] Group 1 - The decline in S&P 500 index futures indicates market reaction to economic data [1]

Market Performance - The three major indices closed in the green, with both the Shanghai and Shenzhen indices reaching new annual closing highs[1] - The Shanghai Composite Index rose by 0.34% to close at 3647.55 points, while the Shenzhen Component Index increased by 1.46% to 11291.43 points[1] - The ChiNext Index saw a significant gain of 1.96%, closing at 2379.82 points[1] - Total trading volume exceeded 1.8 trillion yuan, indicating strong market activity[1] Sector Performance - The majority of the Shenwan I-level industries experienced gains, with the top performers being Electric Equipment (+2.04%), Communication (+1.95%), and Computer (+1.94%)[7] - Conversely, the banking sector declined by 1.01%, and both Oil & Petrochemicals and Coal sectors saw minor decreases of 0.41% and 0.35%, respectively[7] Market Breadth - A total of 4,188 stocks advanced, representing 75.88% of the market, while 1,068 stocks declined[5] - The market saw 85 stocks hit the daily limit up, while 12 stocks hit the limit down[5] Economic Indicators - The Consumer Price Index (CPI) remained flat year-on-year in July, while the Producer Price Index (PPI) decreased by 3.6%[2]

Group 1: CPI Analysis - July CPI year-on-year is 0%, better than the expected -0.1%, indicating stability compared to last year [1] - Month-on-month CPI decreased by 0.1%, weaker than seasonal trends, with food prices showing significant weakness [1] - Core CPI increased by 0.8% year-on-year, the highest in 1.5 years, driven by demand recovery and the end of commodity subsidies [1] Group 2: PPI Analysis - July PPI year-on-year is -3.6%, below the expected -3.4%, consistent with the previous value [2] - Month-on-month PPI decreased by 0.2%, showing a slight improvement of 0.2 percentage points from the previous month [2] - Specific industries like oil extraction and processing showed positive month-on-month changes, while non-metallic mining and manufacturing declined [2] Group 3: Macro Economic Outlook - The low CPI and PPI indicate that overall inflation remains low, allowing for a moderately loose monetary policy [3] - The bond market is expected to see a gradual upward correction in convertible bond valuations due to increased demand for fixed income [3] - The issuance pace of local government special bonds may accelerate, creating temporary supply pressure, but strong demand from long-term stable funds remains [3]