US Stock Market Preview: Powell's Speech, Trump Announcement, Chinese Stocks Rise

US Stock Market Update

Pre-Market Movements

On Friday, US stock futures rose across the board, with Dow futures up 0.3%. Federal Reserve Chairman Jerome Powell is set to deliver a significant speech at the Jackson Hole conference tonight at 10 PM. Investors are keen to see how Powell will shape policy direction for September and beyond amid rising political intervention and challenges in balancing inflation and employment.

Key Corporate Updates

• Tesla (TSLA): Shares are up over 1% in pre-market trading.

• NIO (NIO): The new ES8 model has begun pre-sales, leading to a pre-market increase of over 5%, with H-shares soaring over 11%. The ES8 is priced starting at 416,800 yuan, with deliveries expected in September 2025.

• Miniso (MNSO): Shares rose over 8% in pre-market trading after Q2 revenue exceeded expectations, showing a 23.1% year-on-year increase.

• XPeng Motors (XPEV): Shares are up over 2% in pre-market trading, with H-shares increasing by 13.6% following positive institutional ratings.

• NVIDIA (NVDA): Shares fell over 1% as reports emerged of a production halt for the H20 chip tailored for the Chinese market.

Upcoming Events

Investors are particularly focused on Powell's speech tonight, which may address labor market conditions, inflation, and the Fed's policy independence. The market is hoping for signals regarding potential interest rate cuts, which could positively impact risk assets and reverse recent declines in tech stocks.

Market Sentiment

Wall Street remains divided on the outlook for US stocks this year, with some analysts suggesting that the S&P 500 could break 7000 points by year-end, contingent on Fed rate cuts and improvements in manufacturing data.

Conclusion

As the Jackson Hole conference unfolds, all eyes are on Powell's remarks, which could significantly influence market dynamics and investor sentiment in the coming weeks.