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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.
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Europe Natural Resources Fund: Global stock markets are beginning to experience sharp declines. Buy gold in segments after each sharp decline.
It is possible that the US stock market will peak this month (if Trump is elected, there may be a honeymoon period of about six months for the US stock market), and gold may be used as a cash machine, bringing down the price of gold when the stock market falls.
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Soochow: Both the large and small non-farm payrolls in the USA have recorded data below expectations, with a weak labor market driving a decline in industrial metals.
This Friday, Federal Reserve Director Waller reiterated the necessity of "preemptive rate cuts" in his last public speech before the September meeting. Soochow Securities believes that the Federal Reserve is currently reducing its tolerance for labor market weakness and sending a signal of continuity for future interest rate cuts.
Cautionary sentiment is rising! Citigroup warns that the risk of the US election will temporarily suppress metal prices.
Citigroup said that the uncertainty surrounding the November US presidential election will dampen global risk appetite and possibly delay the Chinese government's stimulus plan, thus impeding a significant increase in metal prices.
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