Powell hawkish? Read the full text of the speech and key points of the Q&A in one article.
Powell's speech this time is seen as slightly hawkish. He hinted that the Fed is not in a hurry to cut interest rates, saying that the 'very large' upward revision of personal income announced last week has eliminated the downside economic risks; the U.S. labor market is robust but has cooled significantly over the past year, and the Fed does not need further cooling of this market; if economic developments are in line with expectations, policies will become more neutral over time, with the Fed's basic expectation of two more 25 basis point rate cuts this year; Fed decisions are not pre-determined, but depend on overall data, with most of the data considered for the November meeting still unpublished; decisions will take into account data released during the quiet period; only make decisions during the meeting.
Top 20 turnover | Apple rose more than 2%, with a turnover exceeding 12.6 billion US dollars; pdd holdings fell by 0.42%, with a cumulative increase of over 40% in September
On Monday, the turnover of the US stock market's top performer nvidia rose by 0.03%, with a turnover of $27.304 billion; the second-place tesla rose by 0.45%, with a turnover of $21.009 billion; the third-place apple rose by 2.29%, with a turnover of $12.669 billion.
US stocks close | Dow, S&P reach new highs, Apple rises over 2%; Chinese concept stocks Jinlongji up nearly 30% in September, fangdd network doubles in a day, tal education up nearly 10%
Fed's hawkish remarks dispelled market bets on a significant rate cut in November, but US stocks turned higher in late trading, with the chip index down 0.9% and the Chinese concept index up 7% before closing up 0.5%. S&P recorded its first September gain since 2019, with the Chinese concept index up nearly 30% in September. Nvidia opened low on Monday, up slightly by 2.7%, but marking its first quarterly decline since 2022, while Nio Inc surged over 18% at the open and closed up 2.5%.
US stock early market | The three major indices are mixed, with Apple up nearly 2%; Chinese concept stocks continue to soar, Tal Education up nearly 20%, Nio Inc up over 13%
On the evening of the 30th peking time, the US stock market opened slightly lower on Monday. Chinese concept stocks rose across the board. It is expected that the US stock market will record gains in September and the third quarter. JPMorgan is expected to adjust its options position, which may increase market volatility. Federal Reserve Chairman Powell will deliver a speech on Monday.
US Stock Market Outlook: Chinese concept stocks continue to rise! Ke Holdings, Nio Inc. surged more than 14% before the market opens; Powell will take the stage tonight, the US stock market will face another big test of 'non-farm' this week.
China concept etfs continue to soar, with china's small and medium-sized enterprise board and gem etf surging by over 15%; goldman sachs points out that as the economy normalizes, the premium on quality usa stocks is decreasing.
One image to understand | The list of bull and bear stocks in the US stock market in September is out! Chinese concept stocks have surged, nio inc and Xiaopeng soared over 60% this month; this year skyrocketed more than 2 times! Electrical utilities giant
This month, the Federal Reserve significantly lowered interest rates by 50 basis points to start a loose cycle, greatly alleviating the market's concerns about a US stock economic recession. The expectation of a 'soft landing' continues to heat up, with all three major US stock indices recording gains. As of now, the Nasdaq has risen 2.29% this month, the S&P 500 has risen 1.59%, and the Dow has risen 1.8%.