In the early morning of the 31st Beijing time, US stocks closed mixed on Monday. The Dow closed down slightly, and a general rise in technology stocks pushed the Nasdaq up 0.9%. Markets are still digesting the Fed chairman's remarks on Friday that he was in no hurry to raise interest rates. Investors are keeping a close eye on a number of economic data such as the August non-farm payrolls report to be released this week.

The Dow fell 55.96 points, or 0.16%, to 35399.84; the Nasdaq rose 136.39 points, or 0.90%, to 15265.89; and the S & P 500 rose 19.42 points, or 0.43%, to 4528.79.

On Monday, the Nasdaq rose as high as 15288.08, while the S & P rose to 4537.36, an all-time high.

Technology stocks led the market. Microsoft CorpAnd NetflixUp about 1%, Apple IncUp 3%.

Shares of Affirm Holdings (AFRM), a US ecommerce installment service provider, surged more than 40 per cent. AmazonA partnership with Affirm was announced last Friday to offer installment options to users for the first time and will be rolled out more widely in the coming months.

Morgan StanleyAnalyst James Faucette believes that Amazon.Com Inc's about 150 million Prime members in the United States will help Affirm accelerate growth, and the number of active consumers of Affirm in the United States is expected to grow to about 18 million by the end of 2023, higher than the previous forecast of 11.4 million. Raise the target price of AFRM from $73 to $120, maintaining an outperforming rating.

The financial sector lagged behind. Capital One is down 4%, Wells Fargo & CoDown 2%.

U. S. aviation stocks generally fell after the European Union advised member states to re-impose a non-essential travel ban to the United States because of the severe COVID-19 epidemic in the United States.

Over the past few trading days, US stocks have been boosted by optimism that the Fed will not immediately withdraw from highly loose monetary policy.

"the market seems to have breathed a sigh of relief when Powell made it clear that the Fed is not prepared to raise interest rates in the short term," said Michael Arone, chief investment strategist for State Street Global Advisors's US SPDR business. So far, the Fed appears to have avoided the "tapering panic" experienced in 2013, he added.

However, Morgan Stanley's Mike Wilson believes that there will be a huge correction in US stocks in the future. "with record GDP and corporate earnings growth, rising inflation and Delta infection rates starting to decline, the pressure on the Fed to cancel monetary easing is likely to increase, and I expect a 10 per cent correction in US stocks."

At the annual meeting of the central bank in Jackson Hole on Friday, Federal Reserve Chairman Colin Powell said "outdated policy measures" could be "particularly harmful" while the epidemic still suppresses economic activity. This means that Powell tends to change policy only after he is convinced that the economic recovery is sound.

But Powell pointed out that if the economic recovery continues to live up to expectations, the Fed "may be appropriate to slow the pace of asset purchases in its quantitative easing program from this year."

Powell devoted much of his speech to explaining why he still believes this year's surge in inflation will be temporary. He also acknowledged that supply chain disruptions, temporary shortages of goods and a rebound in travel activity have pushed US inflation to its highest level in decades.

Fund managers worry that if companies fail to pass on higher costs to customers, long-term inflationary pressures could erode corporate earnings and cause the Fed to accelerate interest rate hikes.

"Powell did three very right things and clearly won the support of the market," said Julian Emanuel, chief equity and derivatives strategist at BTIG.

"first of all, the speech is concise and to the point," he said. Second, in the previous four weeks, he sent other Fed governors to warn everyone that a "curtailment of bond purchases" was coming. So he just needs to repeat the message. He did it very effectively. "

"the third thing is that he is dealing with inflation head on," Julian Emanuel said. He knows that inflation has been the focus of the market over the past few months. While he did not provide any new real evidence of why he thought inflation was temporary, he did point out that the rise in commodity prices continued to slow and that historical experience suggested that inflation could be temporary. "

Investors will welcome more data on the strength of the labor market recovery this week. The Labor Department will release its August non-farm payrolls report on Friday. Economists generally believe that non-farm payrolls will increase by 750000 in August. The non-farm payrolls data for July was 943000.

The August non-farm payrolls report will be important data for investors to judge the Fed's future monetary policy plans. On Friday, Federal Reserve Chairman Colin Powell only mentioned that it might be appropriate to scale back bond purchases this year, but did not give a timetable, which could mean that he is still concerned about the recovery in the labor market.

Federal Reserve Governor Christopher Waller said on Friday that if the non-farm payrolls data grew strongly again in August, he would support the Fed to scale back its asset purchases as early as this autumn.

The Fed will hold its next monetary policy meeting on September 21-22.

Focus stocks

NetEase、 Bilibili Inc.And so on, the game stocks are generally down. The State Press and publication Administration issued a notice on further strict management to effectively prevent minors from indulging in online games, and further stringent management measures to solve the problem of minors overusing or even indulging in online games, resolutely prevent minors from indulging in online games, and earnestly protect their physical and mental health.

IdealThe car releases its results for the second quarter of 2021. According to the financial report, Li Auto Inc. 's revenue in that quarter was 5.04 billion yuan, and the market is expected to be 5.012 billion yuan. Car sales in the second quarter were 4.9 billion yuan, up 41.6 percent from the previous quarter. Li Auto Inc. expects to deliver between 25000 and 26000 units in the third quarter, an increase of 188.7 per cent to 200.2 per cent over the same period last year. Li Auto Inc. expects revenue in the third quarter to range from 6.98 billion yuan to 7.25 billion yuan.

Dingdong (Cayman) Limited, a real-time domestic e-commerce business.Released its second-quarter results for the year ended June 30, 2021. Data from the reporting period show that Dingdong (Cayman) Limited maintained a strong growth rate in the second quarter: Q2's revenue in 2021 was 4.65 billion yuan, with a year-on-year growth rate of 77.9%. GMV rose 80.8% year-on-year to 5.38 billion yuan, exceeding market expectations.

Last week, a number of foreign media quoted data from research institutions as saying that at the end of the second quarter of this year, Tesla, Inc.The global delivery volume of the Model 3 has reached 1.03 million, making it the first electric vehicle in the world to deliver more than 1 million vehicles. In terms of current production and delivery volume, the Model Y will be Tesla, Inc. 's electric vehicle with a delivery volume of more than 1 million vehicles. As Tesla, Inc. 's fastest electric vehicle to start delivery, Model Y has become the highest-delivered electric vehicle in several markets since it began delivery last year, surpassing Model 3.

South Korea will ban Apple Inc and Alphabet Inc-CL CForce developers to use their payment systems. South Korea is expected to become the first country in the world to pass a law to end Apple Inc and Alphabet Inc-CL C's dominant payment position in their app stores on their mobile platforms.

This could be a harbinger of similar action elsewhere, said Guillermo Escofet, an analyst at Omdia who specializes in digital consumer platforms. Regulators, lawmakers and litigators in North America and Europe are also scrutinizing the billing rules of app stores, and the overriding mood has become hostile to the enormous power in the hands of tech giants.

According to reports, Global Star is expected to become Apple Inc LEO satellite communications service provider. The upcoming Apple Inc iPhone 13 is expected to adopt low Earth orbit (LEO) satellite communication mode, according to a new research report released by Tianfeng International analyst Guo Mingyi.

If Apple Inc turns on the satellite communication software function, it will allow users to talk and communicate even if they are not covered by 4G/5G. In terms of technology and service coverage, the LEO satellite communications service provider "most likely to cooperate with Apple Inc in technology and service coverage" is Global Star.

Rocket launch startup Astra, which launched the rocket from the launch pad of the Pacific Space Center in Alaska on Saturday, encountered "technical difficulties" more than two minutes after the flight, shutting down all engines and ending the flight.

Online sponsor Support.com continues to climb. Some traders on the Reddit forum speculated that short selling might have occurred. The stock rose 198% last week.

In other markets, gold futures for December delivery on the New York Mercantile Exchange fell $7.30, or 0.4%, to close at $1812.20 an ounce on Monday. Silver futures for December delivery fell 10 cents, or 0.4%, to close at $24.01 an ounce.

West Texas Intermediate (WTI) for October delivery rose 47 cents, or 0.7%, to $69.21 a barrel on the New York Mercantile Exchange. Gasoline futures for September delivery rose 4 cents, or 1.7%, to close at $2.31 a gallon.