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12/17 05:36
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The meeting between the leaders of the U.S., Ukraine, and Russia is set to take place soon. U.S. President Trump announced a meeting with Ukrainian President Zelensky on the afternoon of August 18 in the Oval Office. Zelensky expressed support for the tripartite meeting proposal. The EU and several European countries have also issued a joint statement to advance preparations for this meeting.
Putin emphasized the importance of direct talks, stating that Russia and the U.S. have not engaged in discussions of this level for a long time. He expressed respect for the U.S. government's desire to end military conflicts quickly and hopes for peaceful resolutions.
Chicago Fed President Austan Goolsbee indicated uncertainty regarding interest rate cuts due to mixed inflation data and ongoing tariff uncertainties. He is looking for more convincing data before the September FOMC meeting. Recent CPI and PPI reports have raised concerns about inflation, particularly in service prices.
Goldman Sachs trader Josh Schiffrin, who accurately predicted a market rebound in April, believes that while some sectors show signs of bubbles, the upward trend in U.S. stocks is not over. He cautioned against trying to predict market tops and suggested waiting for confirmation of a downward trend before acting.
Investors are focused on the upcoming Jackson Hole meeting, where Fed Chair Powell will speak. This event is known for signaling significant policy changes. The market anticipates Powell may hint at a rate cut in September, but internal disagreements within the Fed could increase market volatility.
Following a meeting with Putin, Trump stated there are currently no plans to impose tariffs on China for purchasing Russian oil. This comes after the U.S. announced additional tariffs on Indian goods for buying Russian oil.
On Friday, the major U.S. indices showed mixed results. The Dow Jones rose by 0.08%, while the Nasdaq and S&P 500 fell by 0.40% and 0.29%, respectively. Notable tech stocks like Apple (AAPL) and Microsoft (MSFT) saw declines, while Chinese stocks outperformed the market.
The U.S. clean energy sector experienced a significant rally due to new tax credit guidelines. Sunrun (RUN) saw its stock price surge by over 32%, while SolarEdge Technologies (SEDG) rose by 17.10%.
UnitedHealth (UNH) saw its largest single-day gain since 2008, rising nearly 12% after Berkshire Hathaway disclosed a significant stake in the company.
Reports suggest the Trump administration is considering using funds from the CHIPS Act to acquire a stake in Intel (INTC), leading to a temporary stock price increase.
Application Materials (AMAT) shares fell by over 14% after the company forecasted lower-than-expected revenue and profits for the fourth quarter, raising demand concerns.
Opendoor Technologies (OPEN) saw a stock increase of 4.28% following the resignation of its CEO amid investor pressure.
Novo Nordisk (NVO) shares rose over 7% after receiving FDA approval for its weight loss drug Wegovy to treat metabolic dysfunction-related fatty liver disease.
Investors should watch for the Eurozone's trade balance and the U.S. NAHB housing market index on Monday, along with earnings reports from several companies, including Chinese Biopharmaceutical (01177.HK) and Li Auto (09863.HK).
