The U.S. CPI slowed down for five consecutive months in August, and the market expects the Federal Reserve to cut interest rates by 1% next week. All major U.S. stock indexes closed higher yesterday (9/11). Republican candidate Donald Trump and Democratic candidate Kamala Harris held their first debate yesterday. Neither of them mentioned cryptocurrency. However, Kamala Harris showed strong momentum to suppress Trump. Cryptocurrency and related stocks fell. .

Core CPI rose 0.3% month-on-month

The U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) for August, with an annual increase of 2.5%, in line with market expectations. Elsewhere, core CPI rose 3.2% annually, also in line with expectations. However, core CPI increased 0.3% on month, the largest increase in four months. Although headline inflation fell to its lowest level since February 2021, the monthly increase in core CPI disappointed some who had hoped the Fed would cut interest rates by 50 basis points rather than 25 basis points.

According to CME Group FedWatch data, 85% of investors believe the Federal Reserve will announce a precautionary interest rate cut next week and adjust the benchmark interest rate to 5%~5.25%. Yesterday's figure was 66%. .

CNBC stock market guru Jim Cramer said it’s important to “keep it simple” and celebrate the Fed’s interest rate cut as tensions rise.

Small rate cuts are a good thing because they show confidence and lead to more rate cuts later without panic.

Harris performed well in the presidential debate

The U.S. presidential election is in its final stages. Republican candidate Donald Trump and Democratic candidate Kamala Harris yesterday held the first presidential debate since President Joe Biden withdrew from the race.

Debate observers thought Harris performed better, edging Trump by a margin of 63 percent to 37 percent, according to CNN polling data. Before the debate, there was no difference in expectations between the two (50% vs. 50%).

Cryptocurrencies and related stocks fall

Neither mentioned cryptocurrencies during the debate, but Trump's temporary defeat briefly put cryptocurrencies under pressure, with both Bitcoin and Ethereum posting small losses. As technology stocks surged yesterday, crypto-related stocks also showed a downward trend. Encryption exchange Coinbase (code: COIN) fell 0.83%, and Bitcoin-based software development company MicroStrategy (code: MSTR) fell 0.28%, while mining company Marathon (code: MARA) fell 0.94%.

Shares of Trump Media Technology Group (DJT-US) fell 10.5% to $16.68 per share.

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