[Morning Report] Expectations for a significant interest rate cut in the US increase in response to weak job statistics. Nvidia has not received a document submission order from the US Department of Justice. Analysts are paying attention to these important indicators.

Market Overview
The U.S. stock market on the 4th was mixed. The closing price of the Dow Jones Industrial Average was 38.04 dollars higher than the previous day at 34,974.97 dollars. The S&P 500 index closed at 5520.07, down 8.86 points, and the NASDAQ Composite Index closed at 17,084.30, down 52.00 points. In the S&P 500 sectoral index, defensive sectors such as utilities and consumer staples showed the best performance. Due to concerns about supply and demand, energy became the worst-performing sector as the decline in oil prices continued. The Tokyo stock market on the 5th is expected to be dominated by selling, following a trend of searching for lower prices, starting with leading stocks.

Top News
U.S. stocks continue to fall, weak job statistics exacerbate economic concerns, increasing expectations of a significant rate cut by the U.S.
According to the Labor Statistics Bureau, the number of job vacancies in July was 7.673 million, a decrease from the 7.91 million in June (revised down from 8.184 million to 7.91 million), reaching the lowest level in over 3 years. This suggests a slowdown in the employment market.
New job data, following the Tuesday manufacturing index, further reinforced concerns about economic slowdown. The yield on 10-year government bonds fell by 8 basis points to 3.761%.
Mark Hamrick, Bankrate's Senior Economic Analyst, noted that as Federal Reserve Chairman Powell recently stated, further cooling of the job market is not welcome.
If Friday's employment statistics result in weak results, concerns about an economic downturn could intensify.
Investors are increasingly expecting a significant rate cut by the end of the year. According to CME FedWatch, the probability of a rate cut of more than 100 basis points by the end of the year has reached 86%, higher than Tuesday's 72%.
The yen temporarily rose to the mid-143 yen range against the dollar, reaching its highest level in a week and a half.

US bond yield curve, a signal of an economic downturn, attracts investor attention.
As the inversion of the yield curve of the 2-year and 10-year government bonds approaches, the US bond market may once again signal an economic downturn on Wednesday. The phenomenon of the 2-year bond yield exceeding the 10-year bond yield has lasted for 544 trading days. This is considered a reliable predictor of past US economic downturns.
Although the 2-year bond yield temporarily fell below the 10-year bond yield on Wednesday, by the afternoon both were at 3.78% and essentially the same.
After the yield curve returns to a positive slope, stock prices are mixed.

Amid growing sense of stagnation in Nvidia stock, analysts are focusing on these important lines
- Nvidia's stock saw a significant sell-off after the earnings report, recording a 16% decline over the past week. Investors are trying to determine where the stock price will hit bottom.
- Technical analysts are observing the current price movement of Nvidia stock and predicting future trends. They have identified the psychological $100 and the 200-day moving average as important support lines for Nvidia's stock price.
- Ari Wald, a technical analyst at Oppenheimer, pointed out that the 200-day moving average is around $89, coinciding with the low on August 5th. He believes that as long as this support line is maintained, the long-term uptrend will continue. If it approaches the 200-day moving average, he sees it as a buying opportunity.
- Katie Stockton, founder of Fairlead Strategies, indicated the possibility of Nvidia's stock showing signs of overheating and entering a sideways trend for several months.