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U.S. Treasury Liquidity Shifts to Month-end as Passive Funds Dominate: NY Fed Research
US stocks close | US PCE inflation cools down, S&P Nasdaq falls but Dow hits new high; China concept index surges 24% for the whole week, jd.com hits fourteen-month high.
US PCE inflation cooling solidifies the confidence of the Fed in rate cuts, but US stocks fell in the afternoon, with nvidia dropping nearly 4% at one point. China's stimulus policies drove the Chinese concept index up by 4%, nio inc rose by nearly 13%, pan-European stock indexes and German stocks hit new highs for two consecutive days, luxury goods stocks rose again. The Dow, S&P, and Nasdaq have all risen for three consecutive weeks, with two China-focused ETFs achieving the best weekly gains in history.
TOP 20 transaction volume | Chinese concept stocks continue to rise, pdd holdings surged 35.5% this week; Musk claims that China's industrial capacity has far exceeded the usa.
On Friday, the turnover of the US stock market ranked first with nvidia falling by 2.13%, trading at $32.833 billion; tesla ranked second, rising by 2.45%, trading at $18.333 billion; apple, ranking third, rose by 0.12%, trading at $7.762 billion.
USA's core PCE in August hit a new low since May, lower than market expectations.
"The New York Fed communicator" Nick Timiraos commented on this month's PCE data, saying that the PCE indicator favored by the Fed is not far from the Fed's target.
US stock market outlook | As expected! USA's core PCE in August rose by 2.7% year-on-year, short-term pull-up of the three major index futures; Making a fortune! Well-known major short sellers bet on Chinese concept stocks to usher in a glorious moment
Before the market opened on Friday, the three major equity index futures fell slightly, with the market waiting for PCE data; tesla's 0-interest car purchase event was postponed again; jd.com continued to rise by over 2% before the market, Alibaba and jd.com will open up to each other.
This week in the US stock market | China's assets experience a "big carnival", goldman sachs and other major banks are all bullish! Ke Holdings surged nearly 40% during the week, with jd.com and pdd holdings rising by about 30%.
This week, the Dow Jones Industrial Average rose by 0.27% to 42175.11 points; during the same period, the S&P 500 index rose by 0.75% to 5745.37 points; the Nasdaq index rose by 1.35% to 18190.29 points during the same period.