Current macro news status

Driven by good news, the stock market generally rose, and technology stocks performed particularly well. The share prices of giants such as Apple, Google, Microsoft, and Tesla all rose by more than 1%. However, the speech of Federal Reserve Chairman Powell dealt a heavy blow to the US economy and triggered panic in the market.

He said that although the US economy remained stable, the inflation level was still lower than expected, and the job market had basically recovered.

Powell hinted that the inflation rate would remain at a low level, and expected inflation to gradually rise but not reach the target level soon. After the data was released, the US interest rate swap market fully priced in two 25 basis point interest rate cuts by the Federal Reserve in 2024. It is expected that the probability of a 25 basis point interest rate cut in November will reach 100%, while the probability of a rate cut in September is about 70%. #美股