This weekend has not been quiet, the global market has just experienced a sleepless night, 4 major news to note

Brother Finance and Economics

2024-08-03 11:29Posted in Guangdong financial field creators

First: The U.S. stock market almost collapsed overnight

The external market is in a state of collapse, the Nasdaq fell 2.43%, the S&P fell 1.84%, the two fell three times in a row, and the Dow fell 1.51%. The reason is also very simple, the non-farm payrolls data fell sharply short of expectations, and the market beware of the weak United States economy.

Large technology stocks fell, chip stocks fell across the board, Intel E fell more than 26%, the total market value fell below $100 billion, the company's Q3 performance outlook disappointed the market, and it was also preparing to lay off 15,000 employees and suspend dividends.

Most of the popular Chinese concept stocks fell, and they were also brought down, with the Nasdaq China Golden Dragon Index falling 1.84%, Teng X Music falling more than 5%, and the three major car-making forces and the three major e-commerce leaders falling one after another.

It seems that at the opening of next week, A-shares are under a lot of pressure. But I'm not worried, I'm excited, and it looks like I'll be able to do my best this time.

Second: In July, the second-hand housing transactions in Shanghai exceeded 20,000 units

Shanghai's property market is "not weak in the off-season". In July, the transaction volume of second-hand houses in Shanghai exceeded 20,000 units, and the transaction volume of new houses rose slightly year-on-year.

If there is a transaction, it means that there is demand, and if there is demand, there is liquidity, which is a good thing. The real estate sector, this position, has to be observed a lot.

Third: the non-farm payrolls data fell sharply short of expectations, and the market expects a larger rate cut

On the economic data front, United States reported a 114,000 increase in non-farm payrolls in July last night, with an estimate of an increase of 175,000 and a previous increase of 206,000. The United States unemployment rate was 4.3% in July, the highest since October 2021, with an expectation of 4.10% and a previous reading of 4.10%.

The data show that the United States labor market is weakening, layoffs are continuous, and the United States economy is hardly optimistic and supports larger interest rate cuts. This is a good thing for A-shares.

Fourth: The RMB soared by more than 1,000 points overnight

Last night, the U.S. dollar index fell more than 1%, non-U.S. currencies rose across the board, and the offshore yuan rose more than 800 points, rising above the 7.17 mark, and once rose more than 1,000 points in intraday.

The sharp rise in the renminbi is of course good for renminbi-denominated assets, such as A-shares. The Friday night we just passed was very volatile around the world. The storm may be coming, and you have to be well prepared and have peace of mind.

Many people will fall in the storm and many people will rise in the storm, the difference is the perception of the surroundings.

Fifth: Have a great weekend

Although I talked a lot about financial news, today is the weekend after all, and after reading the news, everyone will forget about it. Enjoy the summer weekend and enjoy the summer with your kids around.

I wish you all the best and hope from the bottom of my heart that every friend is healthy, happy, harmonious family, and free of wealth.

I am Brother Caijing, a man who is determined to spend 10 years to make 100 million fans easily understand finance, pay attention to me and grow up together.

The above is a personal opinion and is not intended as any advice.

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