The Fed raises interest rates for the first time in three years! How will the market react?
Week Ahead | August non-farm payrolls data to be released; Elon Musk, Jensen Huang, and Sam Altman to attend G20; Q2 earnings season winds down with Broadcom, Zhipu AI, and Dell reporting; cross-border e-commerce giant Shein lists on Hong Kong stock exchange
Key Events for the New Week
– The blockbuster August non-farm payrolls data is coming. Will expectations for a Fed rate hike reignite?
In the coming week, the market will refocus on the condition of the US labor market,Friday, September 4, at 8:30 PMThe US August Non-Farm Payrolls report to be released will serve as a core benchmark for gauging the Fed's next policy direction.
According to a Reuters survey conducted through Friday, the market expects that in Augustnonfarm payrollsnon-farm payrolls will increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with non-farm payrolls decreasing by 23,000, which already sparked widespread investor concerns about the pace of economic cooling. This report will provide two important clues for the market:First, how resilient is the US job market currently? Second, is high inflation further transmitting to wage levels? Investors are using this data to assess whether the Fed might raise rates as early as September.
– G20 Finance and Technology Meetings: Setting the Tone for Global Monetary Policy and New AI Regulations
Next week, the US will simultaneously host two key G20 ministerial meetings, paving the way for the year-end G20 Leaders' Summit. Running in parallel, these two tracks will addressMacro-Financial Conditionsandthe technology sectorfrom two major dimensions, setting the tone for future global economic policies and AI regulatory trends.
From August 31 to September 1,the G20 Finance Ministers and Central Bank Governors Meetingwill focus on global inflation, macroeconomic policy coordination, exchange rate volatility, debt risks, and financial stability. The wording of its communique will directly impact the trajectory of the US dollar, US Treasuries, and major global asset classes.
From September 1 to September 2, concurrently heldis the G20 Digital Economy Ministerial Meeting,bringing together global technology officials andElon Musk, Jensen Huang, Sam Altmanand other tech leaders are focusing on implementing the US AI "Carolina Principles" to discuss global AI governance, technological innovation, and digital economy rules.
– Tesla officially announces: Cybercab launch event to be held on September 3
On August 22, Tesla announced on platform X that it will hold a Cybercab launch event in Austin on September 3 (local time). Reportedly, the Cybercab completely eliminates the steering wheel, brake pedals, and rearview mirrors, adopts a two-seat layout, and relies entirely on Tesla's FSD (Full Self-Driving) system for operation.
![Key Events for the New Week – August non-farm payrolls data is set to drop, reigniting expectations of a Fed rate hike? Over the coming week, the market will refocus on the condition of the U.S. labor market.Friday, September 4, at 8:30 PMThe U.S. August non-farm payrolls report to be released will serve as a key benchmark for assessing the Fed's next policy direction. According to a Reuters survey conducted through Friday, the market expects August[Share Link: nonfarm payrolls]non-farm payrolls to increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with job losses of 23,000, which already triggered widespread investor concerns about the pace of economic cooling. This report will provide two important clues:First, how resilient the U.S. job market currently is; second, whether high inflation is further feeding into wage levels. Investors are using this data to assess whether the Fed might raise rates as early as September. – G20 Finance and Technology Meetings: Setting the Tone for Global Monetary Policy and New AI Regulations Next week, the U.S. will simultaneously host two key G20 ministerial meetings, paving the way for the year-end G20 Leaders' Summit. The two meetings will run in parallel, focusing respectively onMacro-Financial Conditionsandthe technology sectorTwo key dimensions will set the tone for future global economic policies and AI regulatory trends. August 31 – September 1G20 Finance Ministers and Central Bank Governors Meeting...](https://nnqimage.futunn.com/sns_client_feed/900104/20260830/web-1788079527917-jo5qalQUiX.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Industry analysts predict that Tesla may officially announce the inclusion of the Cybercab in its Robotaxi fleet during this event. Since June this year, the Cybercab has been undergoing public road testing in various US locations, including Austin. Currently, Tesla's Robotaxi business covers seven major regions, with unsupervised operations in two states and six cities, accumulating over 380,000 miles of unsupervised driving and nearly 2.5 million miles of paid rides.
– Q2 earnings season draws to a close! Broadcom, Zhipu AI, Nio, and Dell take the stage
As the Q2 earnings season for US stocks nears its end, $Broadcom (AVGO.US)$ the results released after hours on Wednesday will also become a market focus. As a core provider of custom AI chips and networking connectivity, its AI revenue guidance will drive pricing across the global computing power supply chain. $Dell Technologies (DELL.US)$ 、 $Hewlett Packard Enterprise (HPE.US)$ 、 $Snowflake (SNOW.US)$ AI hardware and data cloud companies are intensively disclosing their results, jointly validating the implementation of AI capital expenditures.
Additionally, $Z.AI (02513.HK)$ The first interim report since listing validates the commercial viability of large language models. For this earnings report, beyond conventional metrics such as revenue and net profit, the market will closely examine Zhipu AI's Annual Recurring Revenue (ARR) figures and management guidance to assess whether its commercialization narrative of "rising API volume and price" can continue to be realized.
– Powell's remarks at Jackson Hole were lackluster; Waller's September comments may hold greater trading value.
Thursday, September 3, 20:30 - Federal Reserve Governor Wallerwill deliver a speech on the inflation outlook. Analysts view this as the most important official commentary ahead of the September FOMC meeting, potentially surpassing the significance of Chair Powell's statements at Jackson Hole. The market will use his remarks to calibrate the interest rate path for September.
Since taking the helm at the Fed, Powell has deliberately kept his language ambiguous, leaving more of the interpretation of policy signals to the market and data rather than actively guiding expectations through forward guidance. This style has caused persistent confusion in the bond market. Bloomberg analysis points out that the source capable of providing more actionable clues for the market isGovernor Waller's speech scheduled for September 3. With only two days remaining before the pre-FOMC blackout period begins for the September 15-16 meeting, the market weight of his comments will be significantly elevated.
– Fast-fashion giant Shein lists in Hong Kong, officially debuting on the HKEX on September 1.
Fast-fashion giant Shein $SHEIN-W (00625.HK)$ previously announced that it would conduct its IPO from August 24 to August 27. The company plans a global offering of approximately 280 million shares, with an expected listing date of September 1.
![Key Events for the New Week – August non-farm payrolls data is set to drop, reigniting expectations of a Fed rate hike? Over the coming week, the market will refocus on the condition of the U.S. labor market.Friday, September 4, at 8:30 PMThe U.S. August non-farm payrolls report to be released will serve as a key benchmark for assessing the Fed's next policy direction. According to a Reuters survey conducted through Friday, the market expects August[Share Link: nonfarm payrolls]non-farm payrolls to increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with job losses of 23,000, which already triggered widespread investor concerns about the pace of economic cooling. This report will provide two important clues:First, how resilient the U.S. job market currently is; second, whether high inflation is further feeding into wage levels. Investors are using this data to assess whether the Fed might raise rates as early as September. – G20 Finance and Technology Meetings: Setting the Tone for Global Monetary Policy and New AI Regulations Next week, the U.S. will simultaneously host two key G20 ministerial meetings, paving the way for the year-end G20 Leaders' Summit. The two meetings will run in parallel, focusing respectively onMacro-Financial Conditionsandthe technology sectorTwo key dimensions will set the tone for future global economic policies and AI regulatory trends. August 31 – September 1G20 Finance Ministers and Central Bank Governors Meeting...](https://nnqimage.futunn.com/sns_client_feed/900104/20260830/web-1788079527557-PYaPoNOifM.webp/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Shein is a global online fashion and lifestyle company that served approximately 273 million active customers across about 160 markets in 2025. By offering a rich variety of highly inclusive, frequently updated, and cost-effective products, the company meets diverse consumer needs and has reshaped the way consumers pursue fashion.
Key Earnings Calendar for the New Week
![Key Events for the New Week – August non-farm payrolls data is set to drop, reigniting expectations of a Fed rate hike? Over the coming week, the market will refocus on the condition of the U.S. labor market.Friday, September 4, at 8:30 PMThe U.S. August non-farm payrolls report to be released will serve as a key benchmark for assessing the Fed's next policy direction. According to a Reuters survey conducted through Friday, the market expects August[Share Link: nonfarm payrolls]non-farm payrolls to increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with job losses of 23,000, which already triggered widespread investor concerns about the pace of economic cooling. This report will provide two important clues:First, how resilient the U.S. job market currently is; second, whether high inflation is further feeding into wage levels. Investors are using this data to assess whether the Fed might raise rates as early as September. – G20 Finance and Technology Meetings: Setting the Tone for Global Monetary Policy and New AI Regulations Next week, the U.S. will simultaneously host two key G20 ministerial meetings, paving the way for the year-end G20 Leaders' Summit. The two meetings will run in parallel, focusing respectively onMacro-Financial Conditionsandthe technology sectorTwo key dimensions will set the tone for future global economic policies and AI regulatory trends. August 31 – September 1G20 Finance Ministers and Central Bank Governors Meeting...](https://nnqimage.futunn.com/sns_client_feed/900104/20260830/web-1788079527829-W4ZdFK2n1H.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Monday (August 31)
Keywords: Zhipu AI earnings; Shein grey market trading; China's August official manufacturing PMI
On the economic data front, China's August official manufacturing PMIand the US August Dallas Fed Business Activity Index will be released.
09:30 China's August official manufacturing PMI
22:30 The US August Dallas Fed Business Activity Index will be released
Regarding earnings reports, Hong Kong stocks $Z.AI (02513.HK)$ 、 $BLACK SESAME (02533.HK)$ 、 $MININGLAMP-W (02718.HK)$ 、 $HORIZONROBOT-W (09660.HK)$ will announce their latest results.
Regarding new listings, fast-fashion giant $SHEIN-W (00625.HK)$ 、 $MECH-MIND ROBOT (09615.HK)$ will commence grey market trading after hours.
Tuesday (September 1)
Keywords: Dell and Nio earnings; Shein IPO
On the economic data front,China's August Caixin Manufacturing PMI, final S&P Global US Manufacturing PMI for August,US ISM Manufacturing PMI for Augustwill be released.
09:45 China's August Caixin Manufacturing PMI
21:45 Final S&P Global US Manufacturing PMI for August
22:00 US ISM Manufacturing PMI for August
On the earnings front, $Medtronic (MDT.US)$ 、 $NIO Inc (NIO.US)$ U.S. stocks will release their latest earnings before the market opens, $Credo Technology (CRDO.US)$ 、 $Dell Technologies (DELL.US)$ 、 $MongoDB (MDB.US)$ 、 $Palo Alto Networks (PANW.US)$ Earnings released after the US market close.
Regarding IPOs, $SHEIN-W (00625.HK)$ 、 $MECH-MIND ROBOT (09615.HK)$Officially listed on the Hong Kong stock exchange.
Wednesday (September 2)
Keywords: Broadcom, Hewlett Packard Enterprise earnings
On the economic data front,EIA crude oil inventories and EIA Strategic Petroleum Reserve (SPR) inventories for the week ended July 24 will be released.
22:30 US EIA Crude Oil Inventories for the week ending July 24 (10k barrels)
22:30 US EIA Strategic Petroleum Reserve Inventories for the week ending July 24 (10k barrels)
On the earnings front, $FuelCell Energy (FCEL.US)$ Earnings released before the US market open, $Broadcom (AVGO.US)$、 $Hewlett Packard Enterprise (HPE.US)$、 $Snowflake (SNOW.US)$ 、 $NetApp (NTAP.US)$ Earnings released after the US market close.
Thursday (September 3)
Keywords: Fed Beige Book; Fed Governor Waller interview; Tesla Cybercab launch event
On the economic data front,China's August Caixin Services PMI,US initial jobless claims for the week ending August 29 (in thousands),US S&P Global Services PMI for August, and the final US ISM Non-Manufacturing PMI for August will be released.
09:45 China's August Caixin Services PMI
20:30 US initial jobless claims for the week ending August 29 (in thousands)
21:45 Final US S&P Global Services PMI for August
22:00 US ISM Non-Manufacturing PMI for August
On the major events front, At 02:00 Beijing time, the Federal Reserve will release the Beige Book on economic conditions;20:30 Fed Governor Waller to give an interviewAdditionally, Tesla will hold its Cybercab launch event in Austin, Texas, on September 3 local time.
On the earnings front, $Ciena (CIEN.US)$ US stocks release earnings before the market opens, $DocuSign (DOCU.US)$ 、 $Lululemon Athletica (LULU.US)$ 、 $Planet Labs PBC (PL.US)$ 、 $Zscaler (ZS.US)$ US stocks release earnings after the market closes.
Friday (September 4)
Key Focus: August Non-Farm Payrolls
Regarding economic data，U.S. Seasonally Adjusted Non-Farm Payrolls for August (in ten thousands), U.S. Unemployment Rate for August, and U.S. Global Supply Chain Pressure Index for August will be released.
20:30 U.S. Seasonally Adjusted Non-Farm Payrolls for August (in ten thousands)
20:30 U.S. Unemployment Rate for August
22:00 U.S. Global Supply Chain Pressure Index for August
Major events:At 03:00 Beijing time, Cleveland Fed President and 2026 FOMC voting member Beth Hammack delivered the opening remarks at a Federal Reserve community event.
Get ahead of major financial events and spot investment opportunities early! Open Futubull > Market > US Stocks >Financial Calendar/Featured macroeconomic data, seize investment opportunities ahead of the curve!![Key Events for the New Week – August non-farm payrolls data is set to drop, reigniting expectations of a Fed rate hike? Over the coming week, the market will refocus on the condition of the U.S. labor market.Friday, September 4, at 8:30 PMThe U.S. August non-farm payrolls report to be released will serve as a key benchmark for assessing the Fed's next policy direction. According to a Reuters survey conducted through Friday, the market expects August[Share Link: nonfarm payrolls]non-farm payrolls to increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with job losses of 23,000, which already triggered widespread investor concerns about the pace of economic cooling. This report will provide two important clues:First, how resilient the U.S. job market currently is; second, whether high inflation is further feeding into wage levels. Investors are using this data to assess whether the Fed might raise rates as early as September. – G20 Finance and Technology Meetings: Setting the Tone for Global Monetary Policy and New AI Regulations Next week, the U.S. will simultaneously host two key G20 ministerial meetings, paving the way for the year-end G20 Leaders' Summit. The two meetings will run in parallel, focusing respectively onMacro-Financial Conditionsandthe technology sectorTwo key dimensions will set the tone for future global economic policies and AI regulatory trends. August 31 – September 1G20 Finance Ministers and Central Bank Governors Meeting...](https://nnqimage.futunn.com/sns_client_feed/900104/20260830/web-1788079527325-VKFEuvK2Bx.webp/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
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