U.S. stocks closed for Labor Day, European stocks rose and fell, German stocks hit a new high, the dollar's gains faded, and crude oil rebounded

Germany's August manufacturing PMI final value was 42.4, the lowest since March 2024. France's August manufacturing PMI final value was 43.9. Dragged down by Germany and France, the eurozone's August manufacturing PMI final value was 45.8, which was higher than the expected 45.6 but still in the contraction range. In addition, the UK's August manufacturing PMI rose to a 26-month high of 52.5, which was in the expansion range.

Sources said that ECB policymakers have become more divided over the outlook for economic growth, with some worried about a recession and others concerned about lingering inflationary pressures. Policy doves are still a minority, and they believe that the economy is weaker than expected and the risk of recession is rising. Once the number of employed people decreases, disposable income will also decrease, which will quickly erode consumption and lead to a self-reinforcing recession. Since there is a broad consensus on interest rate cuts, this disagreement is unlikely to affect policy decisions in September.

On Monday, the U.S. financial market was closed for Labor Day. The market focused on the ISM manufacturing index released on Tuesday, the U.S. ISM non-manufacturing index for August released on Thursday, and the U.S. non-farm payrolls data for August released on Friday, in order to find clues on whether the Federal Reserve will cut interest rates by 50 basis points or 25 basis points. #Telegram创始人获保释 #非农就业数据即将公布 #OpenSea收到韦尔斯通知 $BTC $ETH $BNB