On the evening of August 16th Beijing time, the three major US stock indices fell. As of press time, the Dow Jones Industrial Average fell 0.07%, the Nasdaq fell 0.14%, and the S&P 500 index fell 0.13%.
The rise and fall of large technology stocks are mixed. Google C rose 1.62%, Tesla rose 0.76%, Amazon and Nvidia rose over 0.1%, Meta fell 1.86%, Apple fell 0.26%, and Microsoft fell 0.82%;
Most Chinese concept stocks have risen. Ideal Auto has risen by over 6%, JD.com has risen by over 5%, Qifu Technology and Vipshop have risen by over 3%, and Xiaopeng Motors, Pinduoduo, and Ctrip have risen by over 1%.
Alibaba rose by over 5%, with a market value increase of $10.062 billion (approximately RMB 72.097 billion).
Gold continues to rise, with spot gold breaking through $2500 per ounce during trading, setting a new historical high.
In addition, the US dollar index fluctuated downwards.
According to Securities Times E-Company, the United States announced tonight the start of new housing construction in July, with an annualized total of 1.238 million units and an expected 1.33 million units. The previous value was revised from 1.353 million units to 1.329 million units. The total number of construction permits in the United States in July was 1.396 million, with an expected 1.429 million, and the previous value was revised from 1.446 million to 1.446 million.
In addition, the August consumer survey conducted by the University of Michigan in the United States was released.
Among them, the initial expectation for the one-year inflation rate in the United States in August is 2.9%, with an expectation of 2.90%, compared to the previous value of 2.90%. The initial value of the University of Michigan Consumer Confidence Index for August in the United States is 67.8, with an expected value of 66.9, compared to the previous value of 66.4. The initial value of the University of Michigan Current Situation Index for August in the United States is 60.9, with an expected value of 63.1, compared to the previous value of 62.7. The initial expected inflation rate for the five to ten year period in the United States for August is 3%, with an expectation of 2.90%, compared to the previous value of 3.00%. The initial value of the University of Michigan Expectations Index for August in the United States is 72.1, with an expectation of 68.5, compared to the previous value of 68.8.
Regarding the interpretation of the above data, Joanne Hsu, Director of Consumer Research at the University of Michigan, stated that with the development of this month's election becoming headline news, after Harris replaced Biden as the Democratic presidential candidate, the sentiment of Democrats has risen by 6%. The sentiment of Republicans, on the other hand, has decreased by 5% this month. The sentiment of neutral non partisan individuals has risen by 3%.
The day before, data released by the US Department of Commerce showed that the monthly retail sales rate in July recorded 1%, significantly higher than expected and the largest increase since January 2023, greatly easing market concerns about the US economic recession and lowering investors' expectations of a significant interest rate cut by the Federal Reserve this year.