Pay attention to this number and give us the strength to continue!
First, the trend of the US market at the beginning of the week
Hong Kong's Wonder News Agency reported that investors will welcome key U.S. inflation data and third-quarter earnings season in the coming week. Specifically, the US Consumer Price Index (CPI) for September will be released on Thursday (10/12), which is expected to show a slight decline in overall inflation. The minutes of the Fed's September meeting will also be released this week, and the report is expected to provide further insight into the future path of monetary policy.
On the corporate side, Pepsi, Delta and JPMorgan will kick off the third-quarter earnings season. Citi, Wells Fargo and BlackRock are also expected to report earnings on Friday.
Monday is a holiday for the bond market, which means there will be no bidding on U.S. Treasury yields, which has been the biggest concern for investors over the past week. However, the US stock market will remain open.
Stocks rallied on Friday's September jobs report, offsetting a sell-off driven by earlier higher bond yields, which led sharply higher last week. The Nasdaq rose nearly 1.6% last week and the S&P 500 rose nearly 0.5%, both of the best weeks in the past five weeks.
The US non-farm payrolls report for September further complicates the Fed's next move. On a month-on-month basis, hourly wage growth was lower than expected for the second consecutive month, at 0.2%. But overall, nonfarm payrolls rose by 334,000, higher than economists expected.
Michael Feroli, chief U.S. economist at JPMorgan Chase, wrote in a note on Friday (10/06): "While we insist on keeping interest rates unchanged, the Fed may raise rates again if today's data is followed by overheated inflation data." "If that happens, the case for avoiding a recession next year becomes even more fragile."
Economists expect the US CPI to rise 3.6% in September from a year earlier, lower than the headline inflation rate of 3.7% in August. The month-on-month increase was 0.3%, down from 0.6% in August. Core CPI is expected to rise 4.1% y/y, a slowdown from August's 4.3% gain; It rose 0.3% month-on-month, unchanged from August.
Second, today's event: the quantum computing prototype "Chapter 9 No. 3" released
According to Xinhua News Agency, on October 11, a research team composed of Pan Jianwei and Lu Chaoyang of the University of Science and Technology of China, in cooperation with the Shanghai Institute of Microsystem and Information Technology of the Chinese Academy of Sciences and the National Parallel Computer Engineering Technology Research Center, announced the successful construction of a quantum computing prototype of 255 photons "Chapter 9 No. 3". This achievement once again refreshes the world record of optical quantum information technology, solving the Gaussian boson sampling mathematical problem is 100 million billion times faster than the world's fastest supercomputer, and an important step on the road to developing quantum computers.
The internationally renowned academic journal Physical Review Letters published the results. According to the published optimal algorithm, the speed of Gaussian boson sampling processed by "Chapter 9 3" is a million times faster than that of the previous generation "Chapter 9 2", and the most complex sample that can be calculated by 1 microsecond of "Chapter 9 3" will take about 20 billion years for the world's fastest supercomputer "Frontier".
Quantum computing is a new computing mode that follows the laws of quantum mechanics to regulate the calculation of quantum information units. In 1981, Nobel laureate Richard Feynman proposed the idea of a quantum computer.
Quantum computing is a new computing paradigm in the post-Moore era, which in principle has ultra-fast parallel computing power, and is expected to achieve exponential speedup compared to classical computers in some problems of great social and economic value through specific quantum algorithms. Therefore, the development of quantum computers is one of the biggest challenges in the current world scientific and technological frontier.
In 2019, Google developed a computer with 53 qubits "Hanging Suzuki", achieving quantum superiority for the first time in the world. In 2020, Pan Jianwei's team built a 76-photon quantum computing prototype "Chapter 9", making China the second country in the world to achieve quantum superiority.
In 2021, Pan Jianwei's team successfully developed the 113-photon "Nine Chapter 2" and the 66-bit "Zu Chongzhi II" quantum computing prototype, making China a country that has achieved quantum superiority in both optical and superconductivity technology routes.
However, there is still a long way to go to develop a successful quantum computer. At present, the mainstream international view is that this will take at least 5 to 10 years of effort.
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