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【4E: This week's focus is on PCE and non-agricultural data as well as the financial reports of technology giants. The intensive release of data will intensify market volatility】 October 28, this week is a busy week for economic data. The inflation indicator PCE data favored by the Federal Reserve, the October non-farm employment report, and the third-quarter financial reports of Apple, Google, Microsoft, Meta, and Amazon will determine the market trend at the beginning of November. According to 4E monitoring, the three major U.S. stock indexes showed different trends last week. Tesla's soaring stock price pushed the Nasdaq to close up about 0.9%, and it has risen for seven consecutive weeks, just one step away from its historical high. The S&P fell 0.3% last week and the Dow fell 2.6%, both ending six weeks of consecutive gains. The crypto market generally fell sharply last week. As of press time, Bitcoin was at $67,668, a cumulative drop of 2.18% on the 7th, and Ethereum was at $2,490, a drop of nearly 10% on the 7th. In terms of foreign exchange, the US dollar index rose again to a three-month high on Friday, up 0.8% last week and rising for the fourth consecutive week. Political uncertainty caused the yen to fall 1.9% last week. Due to the unstable situation in the Middle East and the US election, coupled with the expectation of interest rate cuts by global central banks, spot gold hit a record high for three consecutive days last week, and then gave up some of its gains, but still rose by more than 0.9% in a week, rising for the sixth consecutive week. The situation in the Middle East remains tense, which has helped push US oil and Brent oil to rise by more than 4% throughout the week. Recently, the market increasingly expects the US economy to have a soft landing, and this week's series of economic data will test investors' bets. The US third quarter GDP estimate will be released on Wednesday, the latest PCE data for September will be released on Thursday, and the October non-farm report will be released on Friday. With the policy meeting approaching, Federal Reserve officials have entered the routine silent period again, and the market generally believes that a 25 basis point interest rate cut is very likely. The intensive release of data and the approaching US election will intensify market volatility. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
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