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Week Ahead: US August PPI and CPI data set for release, putting rate hike expectations to a key test; Apple’s foldable iPhone makes its debut; Oracle and Adobe to report earnings; US stock markets closed on Monday

From September 7 to 11, the main themes driving trading in Hong Kong and US equities will center on US inflation, US Treasury yields, Apple’s autumn product launch, the European Central Bank’s interest rate decision, as well as the expansion of the Stock Connect program and new stock listings.

Futu NewsSep 6 15:08

Goldman Sachs Partner: Summer is over, with market focus centered on the "bond market storm," while the U.S. equity panic index has dropped to its lowest level during Trump’s term.

The U.S. bond market and equity market are telling two distinctly different stories.

Zhitong FinanceSep 6 13:36

Will next week's U.S. CPI data trigger a September rate hike? BofA and Citi present two opposing scenarios.

BofA Securities projects that the core CPI will rise by 0.22% month-on-month in August, arguing that inflation remains sufficiently elevated to support a rate hike in September. In contrast, Citi forecasts core CPI growth of only 0.18%, with the annual rate declining to 2.3%, suggesting the Federal Reserve is more likely to hold rates steady. The divergence between these two institutions stems from the discrepancy between CPI and PCE trends, as well as Governor Waller’s key tolerance threshold for inflation. Analysts suggest that if the data comes in hotter than expected, the Fed may be forced to adopt a more aggressive tightening path.

wallstreetcnSep 6 09:11

How much inflation is there in the U.S. August non-farm payrolls data?

Barclays believes that the August non-farm payrolls figure was overstated. The robust growth was partly driven by a technical rebound in the leisure and hospitality sector as well as local education, rather than reflecting a sustained improvement in labor demand. Adjustments to the birth-death model also contributed to statistical bias. The three-month average of private non-farm payrolls, at 75,000, offers a more reliable reference. Barclays maintains its baseline forecast of a 25-basis-point rate hike in September.

wallstreetcnSep 5 10:44

Non-farm payrolls unexpectedly surge, lifting the probability of a September rate hike to approximately 60%, triggering simultaneous repricing in U.S. equities and bonds.

U.S. nonfarm payrolls for August significantly exceeded expectations, further widening market分歧 over the Federal Reserve's policy direction in September.

wallstreetcnSep 5 10:15

Timeline for "largest IPO in history" changes; Anthropic reportedly to start roadshow as early as mid-October

Anthropic is expected to begin marketing its initial public offering (IPO) as early as mid-October, with the listing scheduled to be completed a few days before the U.S. midterm elections in November.

cls.cnSep 5 09:39

U.S. Stocks Overnight | August Non-Farm Payrolls Significantly Beat Expectations, Bolstering Bets on Fed Rate Hikes; Three Major Indices Decline; SanDisk (SNDK.US) Surges 11.9%

At the close, the Dow Jones Industrial Average fell 272.51 points, or 0.51%, to 53,413.60; the S&P 500 Index dropped 29.29 points, or 0.38%, to 7,718.42; and the Nasdaq Composite Index declined 77.07 points, or 0.29%, to 26,506.99.

Zhitong FinanceSep 5 07:00

Top 20 by Trading Volume | Tesla drops 6%, reigniting the "event curse"; NVIDIA builds an AI business empire, boosting equity investments to hundreds of billions of dollars; Apple's foldable iPhone may face challenges in mass production

Micron, the most actively traded U.S. stock on Friday, closed up 6.10%. Micron Technology plans to significantly increase its monthly HBM production capacity to approximately 100,000 wafers by the end of this year, nearly doubling last year’s level, in an effort to narrow the capacity gap with SK Hynix and Samsung Electronics. The company is accelerating mass production of its 12-layer HBM4 products for NVIDIA’s “Vera Rubin” architecture, expecting these products to account for 50% of its capacity by year-end, aiming to improve upon its current modest 18% market share.

Global Market BriefingSep 5 06:45

U.S. Stock Market Close | Non-farm payrolls weigh on indices; Philadelphia Semiconductor Index rises 3% against the trend; AI trades become a safe haven for capital, with SanDisk surging 12%, Micron Technology up over 6%, and Bloom Energy up over 7%; Gold

The three major indices ended their two-day winning streak. The S&P 500 fell 0.38%, and the Dow Jones Industrial Average dropped 0.51%. The Philadelphia Semiconductor Index rose 3.37%, with none of its 30 component stocks declining. Marvell Technology, an optical communications stock, surged 7.05%, while Corning gained 5.67%. Memory chip maker SanDisk jumped 11.90%. WTI crude oil dipped to $88.72 per barrel during intraday trading, marking a decline of over 2.5% for the day, before recovering nearly all of its losses. The yield on the 2-year Treasury note rose by 3.4 basis points, reaching an intraday high of 4.416%, the highest level since January 2025.

wallstreetcnSep 5 06:09

Employment growth in the U.S. manufacturing and construction sectors has outpaced that of the services sector, primarily driven by AI infrastructure development.

Over the past six months, payroll employment in the U.S. goods-producing sector rose by 0.6%, marking the highest year-on-year growth since 2023 and outpacing the 0.4% increase in the services sector. In the past three months, the U.S. manufacturing sector added 43,000 jobs, representing its strongest quarterly performance since late 2022. Citi economists noted that the recent improvement in manufacturing and construction is closely linked to large-scale AI infrastructure development.

wallstreetcnSep 5 06:04

Trump downplayed the impact of war, describing the conflict with Iran as merely a "minor issue," and hinted at imminent strikes on Gaoshan.

Trump endorsed Vance’s statement on Thursday that the current situation should not be termed a “war,” asserting that military conflict between the U.S. and Iran is “not a major issue” for the United States, noting that the 18 U.S. military fatalities incurred fall far short of the casualties seen in the Vietnam and Afghanistan wars. He also stated that military action against Fordow could be taken “very soon.” Previously, he had repeatedly threatened to strike Iran’s underground nuclear facilities at Fordow.

wallstreetcnSep 5 06:02

S&P Global Ratings has rarely sounded the alarm on credit risks in AI infrastructure: as a $7 trillion capital expenditure black hole looms, the debt sustainability of tech giants is being called into question.

S&P Global Ratings has issued a systemic warning to AI cloud giants: capital expenditures by the six major cloud providers could exceed $7 trillion by 2030, yet none have disclosed quantified returns on AI investment. The report highlights that Amazon faces the risk of losing its AA rating, while a downgrade for Oracle would push it directly into junk status.

wallstreetcnSep 5 06:00

Bessent: Oil prices to fall to $40 after Iran conflict ends, with bond yields declining accordingly

U.S. Treasury Secretary Bessent predicts that the global oil market will face a severe oversupply once the conflict in Iran ends, potentially driving oil prices down to $40–$50 per barrel and leading to a concurrent decline in bond yields and inflation. He noted that the correlation between current oil prices and interest rates has reached a record high.

wallstreetcnSep 5 05:58

Trump ramps up pressure on the Federal Reserve: Cut interest rates or face severed trade ties with select countries

① On Friday (U.S. Eastern Time), Trump demanded that the Federal Reserve implement significant interest rate cuts, threatening otherwise to halt trade with countries maintaining a trade surplus with the United States; ② These remarks indicate that Trump is intensifying pressure on the Federal Reserve. With two months remaining until the U.S. midterm elections, high inflation has emerged as one of the core issues.

cls.cnSep 5 04:37

How does Wall Street view the August non-farm payrolls? Strong employment figures have not ended the suspense over a September rate hike; next week's CPI holds "decisive significance."

The U.S. non-farm payrolls report for August was surprisingly strong, prompting the market to reassess the likelihood of a Federal Reserve rate hike in September. However, Wall Street does not believe this resolves the policy uncertainty. According to analysts at multiple institutions, while the robust employment data has indeed strengthened the hand of the hawkish camp within the Fed, it is insufficient on its own to determine the outcome of the September monetary policy meeting. The CPI data scheduled for release next week remains the key factor likely to "set the direction." On Friday, the U.S. Bureau of Labor Statistics reported that non-farm payrolls increased by 162,000 in August, far exceeding the market expectation of 56,000. Additionally, job gains for the previous two months were revised upward by a combined 55,000, with July's figure being adjusted from a decrease of 23,000.

wallstreetcnSep 5 03:45

Dow Jones Top Markets Headlines at 3 PM ET: U.S. Adds a Whopping 162,000 Jobs in a Bright Spot for the Economy | U.S. ...

U.S. Adds a Whopping 162,000 Jobs in a Bright Spot for the Economy The unemployment rate stayed at 4.1%, a historically low level that indicates the labor market remains generally healthy. ---- U.S.

Dow JonesSep 5 03:00

Express News | Trump: (Regarding Iran) We may soon attack Gaoshan; our interest rates should be reduced to 1% or even 0.5%.

U.S. President Trump stated at the White House on Friday local time: "We sank many ships through the Strait of Hormuz last night. We are exporting large volumes of oil and controlling the Strait of Hormuz. We may soon attack Gaoshan; the time for action is approaching. If the situation in Iran deteriorates further, we will deliver a heavy blow. To be honest, we have basically taken control of Iran. For me, the Iran issue is merely a military conflict, not a war, because it is a trivial matter for us, nothing significant."

BreakingsSep 5 02:51

Update: Equities Fall Intraday as Jobs Report Lifts Rate Hike Bets

(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as a stronger-than-expected August jobs report boosted the odds of the Federal Reserve raising interest

MT NewswiresSep 5 01:40

Trump Pressures Warsh to Cut Interest Rates: High Rates Place U.S. at an “Unfair Disadvantage,” Otherwise Halt Trade with Deficit Countries

On Friday, Trump posted that the U.S. employment data for August were “very strong,” and once again called on the Federal Reserve to implement significant interest rate cuts, emphasizing that high interest rates have placed the United States at an “unfair disadvantage.” Data released on the same day showed that non-farm payrolls increased by 162,000 in August, far exceeding market expectations, while the unemployment rate remained steady at 4.1%. The robust employment performance has further reinforced market expectations for a rate hike in September. Earlier this week, Trump had already urged for rate cuts, describing discussions of rate hikes as “absurd.”

wallstreetcnSep 5 01:05

Here's How People Are Building Their Nest Eggs Using 'Rent and Invest' Strategies

By Philip van Doorn Also in Weekend Reads: The disrupted bond market, a warning for traders who borrow money, and advice from the Moneyist MarketWatch's series on the rental generation continued

MarketWatchSep 4 23:57