Outlook for the USA market: Will NVIDIA decline further? Dow starts down $64, Bitcoin also falls

Hello, moomoo users! Here is the NY stock market outlook for tonight.

Market Overview
US market opens, Dow Jones Industrial Average, consisting of high-quality stocks, starts down 64.87 dollars at 40,872.06 dollars, Nasdaq Composite Index with a high tech stock ratio starts down 120.59 points at 17,015.71. S&P500 average, consisting of 500 large-cap stocks, started down 22.25 points at 5,506.68.

Market movements
Due to concerns about the US economy and the withdrawal of major high-tech companies, the US stock market saw its largest decline since the crash on August 5th, causing a continued flight from global risk assets on Wednesday.
European stocks also fell following the decline in Asian stock indices, with technology stocks suffering the biggest losses.
Nasdaq futures experienced the largest drop.

Is gold about to reach $2,700 soon?
- Stephen Quinn, an analyst at Goldman Sachs, stated in a report titled "Go for Gold" this week that the commodity price of gold is most likely to rise, maintaining a target price of $2,700 per ounce by early 2025.
- Based on Tuesday's spot gold price, Goldman Sachs believes that the price of gold will have a 8% or more increase by early next year.
- This forecast is based on three reasons: the U.S. debt crisis, the Federal Reserve's rate cut, and the value of hedging.

U.S. Employment Trends
- The U.S. employment statistics, which will be released on Wednesday, are expected to show further cooling of the labor market following yesterday's announcement of 5 consecutive months of shrinking manufacturing activity.
- The employment statistics will provide further clues on whether the U.S. economy is on the brink of a recession and how the Federal Reserve will proceed with monetary policy.

FRB's Bet
In response to this data, traders have increased their bets on a significant interest rate cut by the Federal Reserve this month, causing government bonds to rise for the second day. According to swap trading, the likelihood of a 50 basis point rate cut has increased from 20% last week to about 30%.
On the other hand, the dollar's rally ended after 5 days, the yen strengthened, and the crude oil market plummeted to its lowest level of the year before falling further.

Is the rise in US bonds too fast?
The US ISM Manufacturing PMI fell below expectations in August, raising concerns of an economic downturn, and traders went into full swing due to expectations of an interest rate cut, resulting in a sharp rise in US bonds.
For bond bulls, the non-farm payrolls report, which will be released on Friday, is a key indicator, as a resilient labor market could weaken expectations of a significant rate cut by the Federal Reserve.
At present, economists expect that the US non-farm payrolls for August will increase from 0.114 million in the previous month to 0.165 million, and the unemployment rate will decrease by 0.1 percentage points from 4.3% to 4.2%.