US stocks rose, extending gains just before the close - with the dollar dominating at the 146 yen level.

August 31, 2024, 5:56 JST (excerpt)
US bond yields rise, dollar support weakens with diminished expectations of significant rate cuts and anticipation of supply expansion
PCE price index grows modestly, strengthening expectations of a 25 basis point rate cut in September
In the US stock market on the 30th, all three major indices rose together, ending the turbulent last trading day of August in positive territory. The market is preparing for the September, which is historically prone to selling pressure.

The market experienced a rapid expansion in gains in the final 10 minutes before the closing bell. The S&P 500 approached its all-time high. Monthly performance remained positive for the fourth consecutive month. Economic indicators showed resilience in the US economy, while maintaining expectations of rate cuts in September. Whether the US financial authorities will proceed with significant rate cuts or not may depend on next week's employment statistics.
In July, US personal consumption expenditure (PCE) showed accelerated growth, but the core price index, excluding volatile food and energy, only grew modestly. Consumer sentiment for August, as reported by the University of Michigan, improved for the first time in 5 months.