Technology stocks led the S&P to four consecutive gains, Oracle reached a new high after hours, the US dollar and US bonds fell, gold hit a new high, and commodities rose.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.
Consumer demand fell below expectations, mengniu dairy's revenue and net income both declined by double digits year-on-year | Financial report observation
Due to the surplus of raw milk supply and lower-than-expected demand, the dairy product industry is facing overall short-term decline. In the first half of the year, Mengniu Dairy's revenue decreased by 12.6% year-on-year and net income decreased by 17.2%.
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