Market analysis on August 1

The performance of US stocks fluctuated sharply yesterday, initially higher due to the Federal Reserve's dovish outlook, but with the impact of multiple negative factors during the day, such as the continued weakening of the US labor market, further contraction of manufacturing activity, and the tense situation in the Middle East region, market sentiment took a sharp turn, leading to a sharp decline in major stock indexes. The Dow dropped more than 740 points during the day, while the S&P 500 and NASDAQ both recorded significant declines.

In particular, Apple mentioned the decline in iPhone revenue in Greater China in its three-quarter report, which further affected investors' sentiment, although the company maintained confidence in the long-term prospects of the Chinese market. Amazon's third-quarter earnings guidance also fell short of market expectations, reflecting that demand for cloud services may be affected by AI-related investment pressures.

The market was even more shocked by Intel's second-quarter results. Not only did the revenue drop unexpectedly, but the company also announced that it would lay off more than 15% of its employees and suspend dividends. Its stock price dropped sharply during after-hours trading.

On the macroeconomic side, the degree of contraction in the US manufacturing PMI has deepened. At the same time, employment market data shows that the employment situation has deteriorated, and the number of first-time jobless claims and renewals have risen, increasing market concerns about the economic slowdown.

Elsewhere in the world, the Bank of England cut interest rates unexpectedly, leading to a sharp drop in British pound and British bond yields, while the Asian market was also affected. Japanese stocks fell sharply and the yen strengthened.

This series of events co-affected the market, driving the rise of safe-haven assets such as the US dollar and US Treasury bonds, and also sparked widespread speculation about the future direction of the Federal Reserve's policy. The market generally expects the Fed to cut interest rates during the year to cope with the risk of slowing growth. In this uncertain and volatile market environment, investors should remain cautious and keep a close eye on upcoming economic data and corporate earnings reports, as well as further developments in global geopolitical events.

======= I am a dividing line =======

Zoom Online Sharing Session Registration Link:

MY Moomoo account opening link

Crossing Malaysia through the US 2.0 offline sharing session (Johor Bahru, Selong)