【Morning Report】Federal Reserve Chair: 'No Rush to Cut Rates' comment sparks new controversy with the mid-143 yen level・Port strikes. SoftBank Group to invest 0.5 billion dollars in OpenAI
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The key points of this morning's first report are as follows.
●Tokyo Stock Market Forecast Range: ¥7,800,000 - ¥8,300,000 as of September 30th closing price of ¥7,919,55.
●SoftBank Group to invest $500 million in OpenAI, according to reports.
●FRB Chairman: 'FRB is not in a hurry to quickly lower interest rates.'
●Dollar-yen sees buying back to the 143 yen range, with Chairman Powell showing a non-hurried approach to rate cuts.
●US East Coast port worker strike poses new inflation risk.
●Epic sues Google and Samsung over app store practices, alleging collusion.
- Moomoo News Mark
●Tokyo Stock Market Forecast Range: ¥7,800,000 - ¥8,300,000 as of September 30th closing price of ¥7,919,55.
●SoftBank Group to invest $500 million in OpenAI, according to reports.
●FRB Chairman: 'FRB is not in a hurry to quickly lower interest rates.'
●Dollar-yen sees buying back to the 143 yen range, with Chairman Powell showing a non-hurried approach to rate cuts.
●US East Coast port worker strike poses new inflation risk.
●Epic sues Google and Samsung over app store practices, alleging collusion.
- Moomoo News Mark
Market Overview
On the 30th, the US stock market rose. The Dow Jones Industrial Average rose for the third consecutive business day, while the S&P 500 Index and the Nasdaq Composite Index rebounded. In the afternoon, news of Federal Reserve Chair Powell's speech suggesting a cautious approach to rate cuts led to a temporary drop of 383 points in the Dow before recovering towards the closing. The Nasdaq, which had been in negative territory, also turned upward towards the end. September, often considered the worst month, saw an increase this year, ending the quarter with an overall rise.
The Tokyo stock market on the 1st may rebound as the Nikkei average is likely to rebound from the previous sharp decline.
The Tokyo stock market on the 1st may rebound as the Nikkei average is likely to rebound from the previous sharp decline.
Top news of individual stocks
SoftBank Group to invest 0.5 billion dollars in OpenAI.
$SoftBank Group (9984.JP)$SoftBank Vision Fund reportedly plans to invest 0.5 billion dollars (71.5 billion yen) in OpenAI as part of the funding plan announced by knowledgeable sources, aimed at OpenAI's fundraising efforts.
SoftBank Group to invest 0.5 billion dollars in OpenAI.
$SoftBank Group (9984.JP)$SoftBank Vision Fund reportedly plans to invest 0.5 billion dollars (71.5 billion yen) in OpenAI as part of the funding plan announced by knowledgeable sources, aimed at OpenAI's fundraising efforts.
Fed Chair supports interest rate cut to assist soft landing of the economy.
Jerome Powell, Chair of the Federal Reserve Board (FRB), revealed on the 30th the intention to continue rate cuts to promote employment and sustain economic growth. In his prepared remarks for a local event, he stated, "The economy remains solid. We intend to use tools to maintain this condition."
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Federal Reserve Chair Powell: "The Federal Reserve is not rushing for an immediate rate cut."
Probability of a significant rate cut in November declines to around 35% following remarks by Chair Powell.
Jerome Powell, Chair of the Federal Reserve Board (FRB), revealed on the 30th the intention to continue rate cuts to promote employment and sustain economic growth. In his prepared remarks for a local event, he stated, "The economy remains solid. We intend to use tools to maintain this condition."
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Federal Reserve Chair Powell: "The Federal Reserve is not rushing for an immediate rate cut."
Probability of a significant rate cut in November declines to around 35% following remarks by Chair Powell.
USD/JPY sees buying interest up to the mid-143 yen levels as Chair Powell signals no rush for rate cuts = NY Forex Overview
In the New York foreign exchange market on the 30th, USD/JPY was bought back up to the mid-143 yen levels. Buying interest seems to have emerged from the oversold sentiment upon entering the overseas market. The Nikkei Average Futures, which had experienced a sharp decline, also stopped falling in the overseas market, with USD/JPY being bought back up to the mid-143 yen levels. The afternoon speech by Chair Powell of the Federal Reserve led to a stronger US dollar, supporting the buying back of USD/JPY. The Chair once again indicated a cautious approach towards rate cuts.
In the New York foreign exchange market on the 30th, USD/JPY was bought back up to the mid-143 yen levels. Buying interest seems to have emerged from the oversold sentiment upon entering the overseas market. The Nikkei Average Futures, which had experienced a sharp decline, also stopped falling in the overseas market, with USD/JPY being bought back up to the mid-143 yen levels. The afternoon speech by Chair Powell of the Federal Reserve led to a stronger US dollar, supporting the buying back of USD/JPY. The Chair once again indicated a cautious approach towards rate cuts.
US East Coast port labor strikes pose new risks of inflation
US East Coast and Gulf Coast port workers are set to strike starting on October 1, as announced by the International Longshoremen's Association (ILA). The strikes by port workers across the East Coast from Maine to Texas will be the first in nearly 50 years since 1977.
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East Coast port workers in the US implement strike action, Chicago Fed President expresses concerns over supply chain impact
US East Coast and Gulf Coast port workers are set to strike starting on October 1, as announced by the International Longshoremen's Association (ILA). The strikes by port workers across the East Coast from Maine to Texas will be the first in nearly 50 years since 1977.
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East Coast port workers in the US implement strike action, Chicago Fed President expresses concerns over supply chain impact
Epic sues Google and Samsung over the App Store conspiracy.
Epic Games, the developer of the online game 'Fortnite,' revealed on the 30th that they have filed a lawsuit against Google and South Korea's Samsung Electronics for violating antitrust laws (anti-monopoly laws). They claim that both companies secretly colluded and imposed 'burdensome' restrictions on new third-party app stores.
Epic Games, the developer of the online game 'Fortnite,' revealed on the 30th that they have filed a lawsuit against Google and South Korea's Samsung Electronics for violating antitrust laws (anti-monopoly laws). They claim that both companies secretly colluded and imposed 'burdensome' restrictions on new third-party app stores.
Microsoft to strengthen antitrust monitoring by German authorities.
The Federal Cartel Office, Germany's antitrust authority, $Microsoft (MSFT.US)$announced that it will enhance monitoring to ensure Microsoft does not engage in anti-competitive practices. The agency stated that Microsoft is a crucial player in cross-border competition and will be subject to so-called special abuse control measures for five years. This measure will prompt German regulatory authorities to take action early on and prevent companies from engaging in anti-competitive behaviors.
The Federal Cartel Office, Germany's antitrust authority, $Microsoft (MSFT.US)$announced that it will enhance monitoring to ensure Microsoft does not engage in anti-competitive practices. The agency stated that Microsoft is a crucial player in cross-border competition and will be subject to so-called special abuse control measures for five years. This measure will prompt German regulatory authorities to take action early on and prevent companies from engaging in anti-competitive behaviors.
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Key Market Events
Source: Dow Jones, MINKABU, Wealth Advisor, Fisco
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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