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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Jeff Currie, a veteran of the commodity for 30 years, believes that the current copper price has a range of 8500 at the bottom and 9500 at the top. Whether it can break through this range depends crucially on china.

Currie said in mid-May that copper was the most attractive trade he had seen in his 30-year career, but three and a half months later, the copper price on the London Metal Exchange fell below $9,000 per ton. Currie believes that the current decline in copper prices is mainly due to the simultaneous increase in copper inventories in Asia and copper exports from China.

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