Outlook for the US market: ECB implemented the expected 25bp rate cut, gold prices reached an all-time high.

Hello Moomoo users, good evening!Here is the forecast for the NY stock market tonight.

Market Overview
The US market started with the Dow Jones Industrial Average, which consists of high-quality stocks, rising $0.40 to $40,862.11, and the tech-heavy Nasdaq Composite Index rising 18.36 points to 17,413.89. The S&P 500 Index, which consists of 500 large-cap stocks in the US, rose 3.35 points to 5,557.48.

High-tech rally.
On Thursday, amid signs of a surge in demand for artificial intelligence-related products, a global stock market rally led by high-tech stocks pushed up S&P500 futures.
Jensen Huang, CEO of Nvidia, said at Goldman Sachs' technology conference in San Francisco, 'The demand for artificial intelligence is very large, everyone wants to be number one, and everyone wants to be number one.'
In addition, the day after data was released indicating that US inflation remained subdued, risk appetite revived and the Federal Reserve Board (FRB) became more likely to cut interest rates by a quarter point this month.

Gold price reaches all-time high.
Spot gold reached an all-time high of $2,535 per ounce.

Demand for petroleum.
Brent crude oil, while maintaining in the $70 range, saw a decrease in its gains as the International Energy Agency (IEA) pointed out that global demand growth is 'slowing down rapidly' due to the cooling of the Chinese economy.
●World consumption in the first half of this year increased by 0.8 million barrels per day, which is one-third of the same period in 2023. This is the slowest pace since the oil demand collapsed in the 2020 pandemic.
●Fatih Birol, the director of the International Energy Agency (IEA), said in an interview from Paris that "China's economic growth is slowing down, and the adoption of electric vehicles in the transportation system is progressing at a very strong pace.

European interest rates
●On September 12th (Thursday), the ECB announced its latest interest rate decision, lowering the deposit facility rate by 25bp and the main refinancing rate and marginal lending rate by 60bp.
●In its policy statement, the ECB stated that it does not pre-commit to specific interest rate paths, that the Governing Council is prepared to adjust all instruments, that the extent and duration of restrictive measures will be determined by data, and that it is determined to bring inflation back to 2% in a timely manner.

Last week's initial jobless claims in the United States exceeded expectations at 0.23 million.
●Last week's initial jobless claims in the United States increased for the first time in three weeks due to sluggish labor demand. There is a growing market expectation that the Federal Reserve will make a small 25bp rate cut at next week's meeting.

According to data released by the US Department of Labor on September 12th (Thursday), the number of initial jobless claims in the week ending September 7th was 0.23 million (expected 0.227 million, previous value 0.227 million).