On Thursday, United States time, the latest economic and unemployment data raised investors' expectations for the Fed's interest rate cut again, market risk appetite was boosted, and the three major United States stock indexes collectively closed higher. At the close, the Dow rose 0.58%, the S&P 500 rose 0.75%, the fourth straight session of gains, and the Nasdaq rose 1.00%. In terms of sectors, the 11 major sectors of the S&P 500 rose across the board. The seven major technology giants in the U.S. stock market also closed higher, with Nvidia up nearly 2%, Amazon up more than 1.3%, and Meta up nearly 2.7%.
United States Microsoft to lay off 650 jobs in the gaming division The company's stock price rose
On the corporate side, Microsoft Corp. United States said on Thursday that it would lay off 650 people in its Xbox division, the third layoff in the games division since Microsoft acquired game maker Activision Blizzard for $69 billion. Microsoft shares closed up nearly 1% on Thursday.
United States Moderna Announces Significant Spending Cuts The company's stock price plummeted
United States biotechnology company Moderna announced on Thursday that it plans to cut about $1.1 billion in expenses by 2027, and investors are pessimistic about the company's development prospects, and Moderna's shares fell more than 12% on the day.
United States: Inflationary pressures ease and the labor market cools
On the data front, data released by the United States Department of Labor on Thursday showed that the United States producer price index (PPI) rose 1.7% year-on-year in August, the lowest level since February this year, although the month-on-month data rose 0.2%, slightly higher than expected. United States initial jobless claims last week were 230,000, the first rebound in three weeks, released on the same day. After the release of the above data, investors widely expect the Fed to announce a small interest rate cut of 25 basis points at its interest rate meeting next week.
The international gold price rose 1.5% on the 12th
In precious metals, rising expectations of interest rate cuts by the Federal Reserve and a weaker dollar helped international gold prices rise on Thursday, briefly refreshing an all-time high of $2,588.5 per ounce during the session. At the close, the gold futures for December delivery on the New York Mercantile Exchange closed at $2,580.6 an ounce, up 1.50%.
The European Central Bank cut interest rates for the second time this year on the 12th, and the three major European stock indexes rose across the board
On Thursday, the European Central Bank decided to cut three key interest rates at the same time, which is also the second interest rate cut this year after the European Central Bank announced a rate cut in June this year, in line with market expectations, and the three major European stock indexes rose across the board on the day. Among them, the United Kingdom's FTSE 100 index rose 0.57%, France's CAC 40 index rose 0.52%, and Germany's DAX index rose 1.03%.
ECB: Eurozone inflation is expected to return to target in the second half of 2025
The European Central Bank (ECB) on Thursday announced a 25 basis point cut in the deposit facility rate to 3.5%, and a 60 basis point cut in the main refinancing rate and the marginal lending rate to 3.65% and 3.9%, respectively. However, no subsequent path to interest rates has been provided. In terms of inflation, the European Central Bank forecasts that inflation in the euro area will remain at 2.5% this year and 2.2% next year, and that inflation in the euro area will hit the ECB's 2% target range in the second half of next year.
International oil prices rose significantly on the 12th
In terms of international oil prices, the transit of Hurricane Francine disrupted oil production in the Gulf of Mexico. International oil prices were boosted on Thursday United States nearly half of the oil and gas facilities along the Mexico Gulf coast shut down. As of the close, the price of light crude oil futures for October delivery on the New York Mercantile Exchange closed at $68.97 per barrel, an increase of 2.47%; London Brent crude futures for November delivery settled at $71.97 a barrel, up 1.93%.