(Original title: Global Market Prospect: The new British Prime Minister announced the arrival of Apple’s autumn conference)
Financial Associated Press, September 3 (Editor Xia Junxiong)The U.S. stock market has endured a turbulent week, with the three major indexes falling for a third week in a row. Although the August non-farm payrolls report released on Friday briefly boosted market sentiment, it still failed to ease market concerns regarding the Fed’s aggressive interest rate hikes.
What caused the market downturn this week was Fed Chairman Powell’s speech at the Jackson Hole central bank annual meeting last week. Powell reiterated that the Fed will continue to raise interest rates firmly in the future, and will maintain higher interest rates for a period of time until it is confident that inflation has been improved. control. This statement reversed the market’s expectations for the Fed’s rate hike path.
Given that September was the worst month in the history of the U.S. stock market, analysts have predicted that U.S. stocks may record a worse performance this month than the June low. With the recent decline, stocks have given back most of their gains since the June lows.
It will be revealed next Monday who the UK trusts in the prime minister, with all members of the Conservative Party set to elect a new leader among Foreign Secretary Truss and former Chancellor of the Exchequer Sunak. Currently, Truss has a clear lead in the polls.
However, whoever becomes the new British Prime Minister will face the “mess” left by the current Prime Minister Johnson. From the energy crisis to the financial woes to the diplomatic impasse, a series of policy problems will swarm from the first day of the new government’s appearance to test the new British Prime Minister’s ability to withstand pressure and adapt.
Another highlight next week is Apple’s autumn conference at 1:00 am Beijing time on Thursday, with speculation that Apple will release a new iPhone. Apple is expected to release four new iPhones, including the iPhone 14, iPhone 14 Max, iPhone 14 Pro and iPhone 14 Pro Max. Apple may also unveil new Apple Watches and AirPods, and Apple is also preparing new Macs and iPads, but those new products are sometimes announced at another event in October.
In addition, the European energy crisis has suddenly escalated. Gazprom said on Friday that its key gas pipeline to Europe might not restart as planned on Saturday following a new technical problem was discovered, and it was unclear how long it might take to restore the pipeline.
In terms of financial reports, next week will be relatively light overall, with NIO, Tiger Securities and Bilibili worthy of attention. Among them, Weilai and Tiger Securities will announce their results before the market on Wednesday, while Bilibili will release its earnings before the market on Thursday.
An overview of important events for the next week:
Monday (September 5):The United Kingdom announced the results of the Conservative Party leadership election. The Conservative Party leader will serve as the new British Prime Minister, the 32nd OPEC and non-OPEC ministerial meeting, the final value of the French service industry PMI in August, the final value of the German service industry PMI in August, the euro Regional August service PMI final value, Euro zone July retail sales monthly rate, China August Caixin service PMI
Tuesday (September 6): Reserve Bank of Australia announces interest rate decision, US August Markit services PMI final value, US August ISM non-manufacturing PMI
Wednesday (September 7): China’s August trade account, China’s August trade account in US dollars, China’s August foreign exchange reserves, the Bank of Canada’s announcement of interest rate decision, Australia’s second-quarter GDP annual rate, the euro zone’s second-quarter GDP annual rate final value, the United States’ July trade account
Thursday (September 8):Japan’s second-quarter real GDP annualized quarterly revision, Japan’s July trade account, France’s July trade account, EIA’s monthly short-term energy outlook report, Apple’s fall new product launch conference, and the Federal Reserve’s Beige Book of economic conditions
Friday (September 9):China’s August CPI annual rate, China’s August M2 money supply annual rate, France’s July industrial output monthly rate, the United States’ July wholesale sales monthly rate, the European Union held an emergency meeting on energy to discuss crisis response plans
