On Monday, local time, the three major indexes of the US stock market closed up slightly. By the close, the Dow was up 43.04 points, or 0.13%, at 34006.88. The S&P 500 rose 17.38 points, or 0.40%, to 4,337.44. The NASDAQ rose 59.51 points, or 0.45%, to 13,271.32.
In focus stocks, Ideal Automobile fell nearly 10 percent. On September 25, with an ideal L7 off the production line, the 500,000th production car of Ideal Car officially rolled off the production line. Since the first Ideal ONE rolled off the assembly line in November 2019, Ideal Automobile has achieved 500,000 production vehicles in 47 months. In addition, the Ideal MEGA will be released in December this year.
In addition, on September 29, the Fed's favorite inflation gauge, the U.S. Core PCE price index for August, will be released. At the same time, the US federal government 2023 fiscal year will end this Saturday (September 30), if there is no fiscal budget plan, the US government will face a "shutdown", many market participants expect that the probability of the event is basically 100%.
The United States government is likely to shut down.
On September 30, the federal government of the United States will end the 2023 fiscal year, when there is no budget plan, the United States government will face a "shutdown."
It seems increasingly unlikely that Congress will reach a budget deal amid fierce opposition from the right wing of the Republican Party in the House of Representatives. Many analysts even say that the probability of a US "shutdown" on October 1 is basically 100%.
According to Goldman Sachs 'latest estimate, the "shutdown" could last two to three weeks, taking into account the impact on the private sector, each week of full government "shutdown" will reduce quarterly annualized GDP growth by about 0.2%.
Moody's, one of the top three international rating agencies, has warned that a US government shutdown would have a negative impact on its credit rating because it would highlight the weakness of US institutions and governance strength relative to other top-rated governments. Moody's also noted that the economic impact could be short-lived.
In addition, the market focus on the Fed's favorite inflation indicator - the US core PCE price index for August will also be released on Friday (September 29), when the Federal Reserve Chairman Powell will participate in the meeting and answer questions from the audience and online participants.
Goolsbee said it "feels like" rates will stay higher for longer than markets expect, and at some point the question will shift from how much to raise rates to how long to keep them high.
Ideal 500,000th production car rolled off the production line
On Monday local time, the three major indexes of the US stock market stopped falling and rebounded. By the close, the Dow was up 43.04 points, or 0.13%, at 34006.88. The S&P 500 rose 17.38 points, or 0.40%, to 4,337.44. The NASDAQ rose 59.51 points, or 0.45%, to 13,271.32.
Large technology stocks rose, Amazon, Netflix, Nvidia rose more than 1%, Microsoft, Google, Tesla, Apple, Meta small gains.
Bank stocks mostly rose, with jpmorgan Chase, Wells Fargo, Goldman Sachs and Citigroup up slightly and Morgan Stanley and Bank of America down slightly.
Popular Chinese stocks were mixed, with the Nasdaq Gold Dragon Index down 1.10%.
Ideal Car fell nearly 10%. On September 25, with an ideal L7 off the production line, the 500,000th production car of Ideal Car officially rolled off the production line. Since the first Ideal ONE rolled off the assembly line in November 2019, Ideal Automobile has achieved 500,000 production vehicles in 47 months. In addition, the Ideal MEGA will be released in December this year.
Other Chinese stocks, NIO, Jingdong fell more than 2%, Bilibili, Futu Holding, Alibaba fell more than 1%, NetEase closed down 1%, Baidu, Weibo fell slightly; Xopeng Automobile and Vipshop rose more than 1%, and Pinjoduo, Tencent Music, iQiyi and Manbang rose slightly.

President of the European Central Bank:
Euro Zone economic activity weakens further in Q3
On September 25, European Central Bank President Christine Lagarde and members of the European Parliament Committee on Economic and Monetary Affairs held the third monetary dialogue this year and delivered a speech.
In her speech, Ms Lagarde said recent indicators pointed to further weakness in eurozone economic activity in the third quarter. Job creation in the services sector slowed and overall growth momentum slowed. Lagarde also said inflation would remain high for a long time.
Bank of Japan governor warns
The outlook for wages and prices is highly uncertain
In a speech to business leaders in the western city of Osaka during Asian trading hours, Bank of Japan Governor Kazuo Ueda said there was "very high uncertainty" about whether Japanese companies would continue to raise prices and wages, re-emphasizing the central bank's determination to maintain its ultra-loose monetary policy.
Ueda also struck a cautious note on the outlook for overseas economies, warning of the impact of sharp US interest rate rises. Key to the outlook for monetary policy, Ueda said, is whether strong wage growth and consumption, rather than cost pressures from rising import costs, will be the main drivers of inflation.
The Bank of Japan maintained ultra-low interest rates on Sept. 22 and pledged to continue supporting the economy until inflation reaches its 2 percent target sustainably, signaling it is in no hurry to wind down its massive stimulus program.
Huachuang Securities analysis pointed out that by comparing with 2014, there are some positive factors in this round of inflation in Japan, including more extensive and larger price increases, and stronger driving forces for price increases of internal factors in Japan. But as Mr. Ueda said, sustainable wage growth is a key factor in inflation, so whether the positive trend can continue may depend on whether the "wage-price" cycle can be achieved.
EU imports of energy products continue to decline in Q2 2023
According to data released by Eurostat on the 25th local time, following a decline in imports of energy products in the first quarter, imports of energy products in the European Union continued to decline in the second quarter of 2023. In the second quarter, compared with the same period last year, the value of imports fell by 39.4 percent and the volume of imports fell by 11.3 percent.
In the second quarter of 2023, Russia's share of total EU oil imports was 4.0%, compared with 21.6% in the same period last year.