Last night and this morning, the US stock market moderately strengthened amidst the argument of "the Federal Reserve will cut interest rates more significantly next week". The S&P 500 and Nasdaq recorded their fifth trading day of gains this week, and also their largest weekly gains since the "V-shaped rebound" in November last year.
According to calculations, the S&P 500 index is only 0.7% behind its previous high of 5669.67 points, while the Dow Jones Industrial Average is less than 0.5% behind its previous high.
However, it should be noted that the current news about "the Federal Reserve cutting interest rates more significantly next week" is either a blow from the Fed's mouthpiece or a loud shout from various analysts, including former New York Fed Chairman Dudley, JPMorgan Chase Chief American Economist Michael Feroli, and others. To make Powell, who is naturally cautious, make an unexpected interest rate cut seven weeks before the US election, a higher degree of market consensus is still needed.
Against the backdrop of market expectations that the Federal Reserve only has dovish options, spot gold once again experienced a "golden tsunami" within the day, reaching a historic high of $2586.18 per ounce. More resilient assets such as silver and Bitcoin also strengthened together. Wheat futures have strengthened for the third consecutive week, reflecting market concerns about the impact of dry weather on harvests in major European regions such as Russia and Ukraine. Of course, the escalation of conflict between Russia and Ukraine has also driven prices.
Market News
Japan's ruling party launches presidential election
On Thursday local time, a record breaking 9 candidates held a joint press conference at the headquarters of the Liberal Democratic Party in Japan, marking the official start of the presidential election. It is reported that the final winner will be announced on September 27th. The winner is expected to complete the appointment process for Japan's 102nd Prime Minister in early October.
Three American citizens sentenced to death for participating in an attempted coup in the Democratic Republic of Congo
According to CCTV News, on September 13th local time, three American citizens who were tried for their involvement in an attempted coup in the Democratic Republic of Congo were sentenced to death by a military court in the country. Three individuals were also convicted of conspiracy to commit crimes, terrorism, and other charges.
Suspected Tesla Robotaxi spy photos appear
Spy photos that appeared on the social media Reddit forum showed a uniquely shaped, layered disguised small vehicle appearing in the Tesla convoy preparing for the October press conference at Warner Bros. Studios in California. This was quickly pointed out by netizens as the Cybercab, which is expected to debut next month. Consistent with the concept image in "The Legend of Elon Musk," the Tesla Robotaxi is a two door, two seater compact car with larger rear wheels and a Cybertruck style long taillight at the rear.
The chairman promises not to reduce holdings of Trump's media technology, which has surged
Trump, the chairman of the Trump Media Technology Group (DJT), who is currently participating in the US election, stated on Friday afternoon that he is not planning to sell the company's stock. Affected by this, DJT, which has fallen 60% in the past six months, rose nearly 30% near the closing on Friday and ultimately closed up 11.79%.
DJT went public through a special purpose acquisition in March this year, and theoretically, the 6-month lock up period will expire as early as next week. Even if calculated based on the current situation of falling below the March price, Trump can still make an unexpected fortune of over $1 billion by selling stocks.
AI godmother Li Feifei completes $230 million startup financing
On Friday local time, World Labs, co founded by top AI scientist Li Feifei, known as the "godmother of AI", was officially established. The company has received a start-up financing of $230 million, with investors including a16z, Enyi Investment, as well as investment firms from Nvidia, AMD, Intel, and others. World Labs focuses on spatial intelligence and aims to create AI models that can understand 3D spatial motion.
The Brazilian Supreme Court orders the confiscation of over 18 million Brazilian reals from "X" and "Starlink" companies
On the 13th local time, Brazilian Supreme Court Justice Alexander Demoles ordered the confiscation of 18.35 million Brazilian reals (approximately 24 million yuan) owned or controlled by Musk's social media platform "X" and satellite broadband network service provider "Starlink" in its Brazilian subsidiary, in order to fully pay the fine. It is reported that after confiscating the above-mentioned funds, the bank accounts of the two companies have been unblocked. However, currently "X" is still under lockdown in Brazil.
Health products with lingering effects: Xiaolin Pharmaceutical suspends sales of three products
On the 13th, Kobayashi Pharmaceutical Company announced that due to the health damage caused to consumers by its health products containing Monascus ingredients, Japanese dentists will withdraw their recommendations for three oral care products from Kobayashi Pharmaceutical. As a result, the company has decided to suspend the sale of these products from that day on. According to Japanese media reports, the three products discontinued by Kobayashi Pharmaceuticals are dental floss, interdental brushes, and braces cleaning solution. Due to the label "Recommended by the Japanese Dental Association" printed on the packaging of these products, Kobayashi Pharmaceutical has decided to delist them and resell them after removing the aforementioned label from the outer packaging. According to Xiaolin Pharmaceutical, there are no issues with the quality and safety of these products.