09866

<p>Before the non-farm payrolls report, the United States saw a new slowdown in employment, with economic concerns supporting heavy bets on a significant rate cut. The 2-year/10-year Treasury yield curve briefly ended its third inversion in two years. The S&P 500 fell for the third consecutive day, with Broadcom dropping over 4% after hours, while Tesla rose nearly 5%. Nvidia and Chinese concept stocks rose by nearly 1%. The Japanese yen hit a one-month high, and offshore RMB rose by 300 points to break through 7.09 yuan. Gold rose by 1% at one point, oil prices rose by over 2% before closing lower, with U.S. oil falling below $70 for the first time in 15 months</p>

- Labor market data in the U.S. shows mixed results with August "small nonfarm" job additions hitting a three-and-a-half-year low, indicating a sharp slowdown. However, initial jobless claims decreased slightly, and continued jobless claims reached a near three-month low.
- The U.S. ISM services index mildly expanded for two consecutive months, easing concerns of an economic hard landing. Market focus shifts to Friday's crucial nonfarm data to further validate rate cut expectations.
- Major U.S. stock indices fluctuated, with the S&P 500 and Dow Jones declining, while the Nasdaq managed a slight increase. Tech stocks like Tesla surged, but chip stocks varied, and AI concept stocks experienced mixed performance.

Wallstreetcn

NIO-SW

NIO Inc. USD OV

"Mini non-farm" suppresses US stocks and the US dollar, Nasdaq rises by over 1% before sharply narrowing, NIO surges by over 14%, RMB hits a 16-month high