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12/17 07:18
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Federal Reserve Governor Christopher Waller has expressed support for a 25 basis point rate cut at the September meeting, anticipating further reductions in the next 3-6 months. He stated that unless the August employment report indicates significant economic weakness while inflation remains well-controlled, a larger cut in September is not warranted.
Waller noted that the underlying inflation rate is close to 2% when excluding temporary tariff impacts, and the policy rate is "moderately restrictive," expected to be 1.25 to 1.50 percentage points above the neutral rate.
Federal Reserve Governor Lisa Cook has filed a lawsuit against former President Trump, challenging his attempt to dismiss her. Trump accused her of lying on a mortgage application, which has sparked a historic debate over the independence of the Federal Reserve. Cook's lawsuit names Fed Chair Jerome Powell and the Board of Governors as defendants.
The European Commission has proposed two legislative measures to eliminate some tariffs on U.S. industrial goods, offering preferential market access for certain seafood and non-sensitive agricultural products. The U.S. will only reduce auto tariffs to 15% once the EU formally submits the necessary legislation.
White House officials announced that the U.S. will permanently end the tax exemption for packages valued under $800, effective Friday. During a six-month transition period, postal carriers can opt to pay a fixed tariff per package based on the country of origin.
According to CoinGlass, the spot Ethereum ETF has seen inflows of up to $1.83 billion since August 21, significantly outpacing Bitcoin's $171 million during the same period. This shift in market momentum appears to favor Ethereum, which holds a larger share of stablecoins and tokenized real-world assets.
On Thursday, major U.S. indices closed higher, with the S&P 500 and Dow Jones reaching new closing highs as investors digested Nvidia's earnings report. The Dow rose 0.16% to 45,636.90 points, while the S&P 500 gained 0.32% to 6,501.86 points.
Most of the "Magnificent Seven" tech stocks saw gains, with Nvidia down 0.79% and Microsoft up 0.57%. Chinese stocks listed on Nasdaq showed mixed results, with the Nasdaq Golden Dragon China Index up 0.14%.
Tesla's new car registrations in Europe fell by 40% in July, marking the seventh consecutive month of decline. In contrast, BYD's registrations surged by 225% during the same period.
Nvidia's CEO Jensen Huang expressed optimism about negotiations with the Trump administration regarding the sale of Blackwell chips to China, although no timeline for an agreement has been established.
Dell Technologies reported Q2 revenue of $29.776 billion, exceeding market expectations. The company now anticipates full-year revenue between $105 billion and $109 billion, up from previous estimates.
Affirm Holdings reported better-than-expected Q4 results for FY2025, with an EPS of $0.20, surpassing the $0.12 forecast. The company is focusing on international expansion and AI investments.
On August 28, southbound funds sold over HKD 20.4 billion in Hong Kong stocks, marking the largest single-day net sell-off in history. SMIC and other semiconductor stocks saw significant net purchases.
On Friday, the U.S. will release the core PCE price index and personal spending data for July, followed by the Michigan consumer sentiment index and inflation expectations for August.
Overall, the market remains focused on economic indicators and corporate earnings as key drivers of future performance.
