Eastern time on Friday, the US stock market opened lower, the three major indexes once all turned down, as of press, the Dow fell 0.39%, the Nasdaq rose 0.20% (up more than 1% at the beginning of the session), the S&P 500 index fell 0.21%. The U.S. core PCE price index rose 0.1 percent in August from a month earlier, marking the lowest monthly gain since late 2020, as traders continued to bet that the Fed's rate hikes were over. Most of the popular Chinese stocks rose, Xiaopeng Automobile rose more than 4%, Ideal Automobile, Baidu rose more than 2%, Bilibili, JD.com, Alibaba, NiO followed. Nike rose more than 8% at one point, and the company's CFO expects second-quarter gross profit to expand 100 basis points from a year earlier.
World News

The Fed's favorite core PCE is here! Good news for the Fed
The latest personal income and spending report released by the Bureau of Economic Analysis on Friday (September 29) showed that the core personal consumption expenditure (PCE), the Fed's favorite, rose in line with expectations. Specifically, the U.S. PCE price index climbed 3.5% in August from a year earlier; Month-on-month growth was 0.4 per cent, against expectations of 0.5 per cent. The good data report strengthened expectations that the Federal Reserve will pause in raising interest rates. The Fed has set an inflation target of 2 percent as a sign of healthy economic growth. The last time core PCE was at this target level was in February 2021.
The IMF warns Goldman Sachs that there is a 90% chance of a US government shutdown. The State Department is "on hand" : Contingency plans are being made
The federal government's fiscal year ends on September 30. With Democrats and Republicans locked in a battle over spending for the new fiscal year, the risk of a federal government shutdown because it runs out of money is rising again. If the two parties cannot reach an agreement at the end of the day, the U.S. federal government will be plunged into the 22nd "shutdown" in history. At present, the Democratic Party of US President Joe Biden has a narrow majority in the Senate, and the Republican Party won control of the House of Representatives after last year's midterm elections, which makes the legislative process of Biden a lot of obstacles, from the "limit game" between the two parties over the debt ceiling in the first half of this year.
Fed Balkin: Still need more data to support the next step of policy how to go!
Richmond Fed President Robert Barkin said he could not yet judge what the Fed would need to do on monetary policy before the end of the year. Barkin acknowledged that a possible government shutdown would complicate the Fed's ability to read the economy. The latest quarterly forecasts showed 12 of 19 officials leaning towards another rate hike in 2023, underlining a determination to ensure inflation continues to decelerate; And officials generally see less rate cuts in 2024 than previously thought, in part because of a strengthening labor market.
Is the news that eurozone inflation fell to a two-year low in September good or bad?
Data released by Eurostat on Friday (September 29) showed that consumer prices in the 20 countries of the euro zone rose by 4.3% in September, the lowest increase since October 2021, compared with a previous reading of 5.2%. The figures are likely to strengthen the ECB's resolve to bring down inflation, but the economic impact of the most dramatic tightening cycle in the bank's nearly 25-year history is becoming increasingly clear, with some indicators pointing to a possible recession in the euro zone.
JGBS hit biggest quarterly sell-off in over 20 years! Will the JGB crash of 1998 be repeated?
Japanese government bonds suffered their biggest quarterly fall since 1998 amid turmoil in global bond markets and expectations of an imminent policy shift by the Bank of Japan. Japanese government bonds are also set for their worst quarterly sell-off in more than two decades as the Bank of Japan loosens its grip on the market. It was a reminder to investors that the Japanese bond market is partly dependent on support from public sector bodies such as the Bank of Japan to outperform global peers.
Americans are rushing for gold too? Costco gold bars sold out consumer enthusiasm is not reduced
Recently, the US chain retailer Costco (Costco) announced the latest results report, the company's quarterly revenue and earnings per share are exceeding market expectations. Costco executives said that regardless of the price of the gold bar, it is selling well. Given that U.S. inflation remains high, banks are under regulatory pressure, and problems loom in the commercial real estate market, safe-haven factors for gold and silver should be strong.
Company news

Nike achieved revenue of $12.9 billion in the first quarter of fiscal year 2024. The performance resilience of Greater China highlights two consecutive quarters of double-digit growth
On September 29, Nike released the financial report for the first quarter of the fiscal year 2024 (as of August 31, 2023), during the reporting period, the company achieved revenue of $12.9 billion, an increase of 2%; Net income was $1.5bn, down 1 per cent from a year earlier. Greater China achieved revenue of $1.735 billion in the first quarter, up 12% year-over-year on a constant currency basis, achieving two consecutive quarters of double-digit growth, as inventory management and product sales continued to improve, laying the foundation for future long-term growth.
Nvidia was allegedly raided by French regulators for alleged anti-competitive conduct
French competition regulators raided Nvidia's local offices this week over alleged anti-competitive practices by the chip giant, according to media reports. The French regulator said this week's action followed a broader investigation into the cloud computing industry, in which it expressed concern that cloud companies could use the computing power they gain to exclude smaller rivals.
Ningde Times and Ford cooperation battery factory was exposed to the US House of Representatives investigation
On September 27 local time, the chairmen of three committees in the US House of Representatives asked Ford Motor to submit documents on its cooperation with Chinese battery company Ningde Times and threatened to subpoena Ford Motor CEO Jim Farley to testify before Congress. Among the documents the three lawmakers want are a technology licensing agreement between Ford and Ningde, and a communication between Ford and the Biden administration about technology licensing agreements and achievable tax credits. They expressed concern that the cooperation could facilitate the flow of tax subsidies to China for U.S. consumers buying new energy vehicles and make Ford dependent on Chinese technology.
Nio and Mercedes-Benz both deny "negotiating investment and technology sharing"
According to sources, Mercedes-Benz had exploratory talks with NIO earlier this year about cooperation, and Mercedes-Benz sought to invest in the latter in exchange for NIO sharing technology and research and development capabilities. In this regard, NIO denied that it had talked about cooperation with Mercedes-Benz, saying that the relevant reports were "not true." Mercedes-benz separately responded that it currently has no plans to work with NIO.