On the 19th, the US stock market continued to rise, $S&P 500 Index (.SPX.US)$and $Nasdaq Composite Index (.IXIC.US)$rising for the 8th consecutive day, marking the longest upward trend so far this year. A series of economic indicators showing the resilience of the US economy led to buying on dips.
Individual stocks also performed well, $NVIDIA (NVDA.US)$rising nearly 30% in the past 10 days, $Nike (NKE.US)$It rose for the 9th consecutive day, marking the longest continuous high in about 8 years.
Expectations for an economic downturn continue to decline, with the U.S. economy expected to achieve a soft landing.
Recently released four economic data points strongly support market sentiment, rekindling expectations that the U.S. economy can achieve a soft landing:
●Decreasing inflation trend: In July, the U.S. Consumer Price Index (CPI) rose by 2.9% year-on-year, below the expected 3%, indicating a decline from June's 3%. This suggests a slowdown in inflation, potentially giving the Federal Reserve room for future interest rate cuts.
●Unemployment insurance claims decline: Last week's initial unemployment insurance claims of 0.227 million fell below expectations. The...