Market performance
The three major markets all closed down. Judging from the structure of ups and downs, technology stocks continued to decline in valuation, and energy finance was relatively resistant to decline. The current environment is in a situation of high economic resilience, high interest rates, and a strong US dollar. Under these circumstances, it is difficult for technology stocks to rise, but the stock market is guided by expectations for the future. Currently, interest rates and the US dollar are at high points, and future declines will create a better investment environment for technology stocks.
Economic data
The day after tomorrow, the most important CPI and PPI data for this week will be released, in addition to the monthly retail sales rate and the number of jobless claims at the beginning of the week. JP Morgan expects CPI to rise 0.6% month-on-month, the highest month-on-month increase since June, mainly driven by an expected 6% spike in energy prices. Food is expected to rise 0.2%, which is relatively moderate. The core CPI will be similar to the previous few months, and is expected to rise 0.2% month-on-month. The biggest contributor is expected to be rent, and other categories are relatively weak. I think the CPI data will also be in line with expectations. Due to the base effect, inflation will definitely be higher than last month in terms of year-on-year data. However, if the core CPI is in line with expectations of 0.2%, it will boost the market's expectations that interest rate hikes will stop. Currently, they are heavily stocked on NVDA, AMD, and Tesla, and will not reduce their positions.
Apple toothpaste-style press conference
Apple announced the latest generation of Apple Watch, Iphone 15, and Pro at this fall press conference. Environmental protection has always been emphasized during press conferences... It's not what the market wants. The highlight is p...