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Federal Reserve Chairman Jerome Powell sent the most explicit signal to date at the Jackson Hole Global Central Bank Annual Meeting, hinting that the Fed will begin cutting interest rates in September. He also believes that the U.S. economy is growing at a "solid pace," alleviating concerns about an economic recession. His confidence in inflation falling to 2% has strengthened, and he did not mention "gradual" rate cuts, leaving room for more significant policy adjustments.

Analysts say that the Fed will gauge its actions based on upcoming economic data. If the August non-farm payrolls data show that the labor market is weaker than expected, it should prompt the Fed to cut rates more quickly and by a larger margin. Fed officials are also in unison, with Atlanta Fed President Bostic, a 2024 voter, stating that he may now lean towards more than one rate cut this year. Philadelphia Fed President Harker said that it is time to start cutting rates, and this process should be "orderly."

With expectations of a rate cut heating up, the CME FedWatch Tool shows that the possibility of a 50 basis point cut in September has risen from 24% on Thursday to 36.5%. Swaps traders currently estimate that the Fed will cut rates by more than 100 basis points this year, which means that by December, there will be rate cuts at each of the remaining FOMC policy meetings, including a significant 50 basis point cut.

After Powell's speech, risk appetite increased, with U.S. stock markets opening and trading higher, the U.S. dollar index falling sharply, and U.S. Treasury yields falling across the board, with the two-year Treasury yield falling more than 10 basis points at one point during the session. The commodity market was also boosted, with gold prices hitting a daily high and oil prices rising in tandem.

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The European Central Bank also showed a tendency to cut rates, with Bank of Finland Governor Rehn supporting a rate cut in September. Economists predict that eurozone inflation is expected to fall to 2.2% in August, providing support for further rate cuts. In addition, U.S. new home sales growth hit a new high in over a year in July.

Small-cap stocks led the way with a 3.19% gain, the Dow Jones Industrial Average rose nearly 500 points at its peak, breaking through 41,000 points, the S&P 500 approached its historical high, the Nasdaq Composite rose 1.8%, and the chip stock index rose 2.8%, with Tesla and Nvidia both rising more than 4.5%:

U.S. stock indices rose across the board, closing near their daily highs: The S&P 500 closed up 1.15% at 5634.61 points, gaining 1.45% for the week. The Dow Jones Industrial Average, closely related to the economic cycle, closed up 1.14% or 462.3 points at 41175.08 points, gaining 1.27% for the week. The technology-heavy Nasdaq Composite closed up 1.47% at 17877.79 points, gaining 1.38% for the week. The Nasdaq 100 closed up 1.18%. The NASDAQ Technology-Weighted Index (NDXTMC), which measures the performance of technology components in the Nasdaq 100, closed up 1.37%. The Russell 2000 Index, which is more sensitive to the economic cycle, closed up 3.19%, gaining 3.54% for the week. The VIX Volatility Index closed down 9.63%, at 15.86.

For the week, the Dow Jones Industrial Average gained nearly 1.3%, the S&P 500 rose 1.5%, the Nasdaq Composite rose 1.4%, the small-cap index rose 3.6%, and the chip stock index rose 1.1%.

As Powell "pivoted," U.S. bank stocks rose across the board, with the regional bank index performing brightly, hitting its largest intraday gain in eight months. The SPDR S&P Regional Banking ETF (KRE) rose 6.4% and then closed up 5.1%, gaining over 5% for the week.

Small-cap stocks soared 3.19% to lead the gains.U.S. stock industry ETFs closed higher across the board. Regional bank ETFs rose more than 5%, banking ETFs rose more than 4%, global aviation ETFs rose more than 3%, semiconductor ETFs and discretionary consumer ETFs rose about 2%, and global technology ETFs, technology industry ETFs, energy industry ETFs, Internet stock index ETFs, and biotechnology index ETFs all rose more than 1%. All 11 sectors of the S&P 500 index closed higher, with the real estate sector up 2%, the discretionary consumer sector up 1.7%, the information technology/technology sector up 1.66%, the energy sector up 1.48%, and the telecommunications sector up 0.5%, the third-worst performance. Throughout the week, the interest rate-sensitive real estate sector had the highest gains. Among the "Seven Sisters of Technology", only Meta fell. Tesla closed up 4.59%, up 1.94% this week, continuing last week's rebound of 8.06%; Nvidia rose 4.55%, up 3.84% this week, continuing last week's 18.93%; Google A rose 1.11%, up 1.63% this week; Apple rose 1.03%, up 0.35% this week, continuing last week's 4.66% rise. Amazon rose 0.52%, down 0.01% this week, rebounded 6.06% last week; Microsoft rose 0.3%, down 0.4% this week; Meta fell 0.74%, up 0.11% this week, after rising 4.82%, 6.07% and 1.86% in the previous three weeks. Apple plans to hold a fall new product launch on September 10 to release new iPhones, AirPods and Watches. Meta canceled its original plan to launch a high-end hybrid headset in 2027. Chip stocks rose collectively. Philadelphia Semiconductor Index closed up 2.79%; industry ETF SOXX closed up 2.68%; Nvidia Double Long ETF closed up 8.7%. ON Semiconductor closed up 4.08%, Qualcomm closed up 2.66%, KLA-Tencor closed up 2.42%, Arm Holdings closed up 4.56%, and Intel closed up 2.19%. AMD closed up 2.16%, up 4.32% this week. Applied Materials closed up 1.23%. Broadcom closed up 2.48%. TSMC ADR closed up 2.91%, down 1.87% this week. ASML ADR closed down 0.05%, and Micron Technology closed down 1.35%. AI concept stocks generally rose. Snowflake closed up 0.56%, BigBear.ai closed up 6.17%, SoundHound AI, an AI voice company held by Nvidia, closed up 2.03%, Dell Technologies closed up 2.78%, CrowdStrike closed up 1.46%, C3.ai closed up 1.74%, "AI monster stock" AMD closed up 1.39%, Oracle closed up 0.8%, Serve Robotics closed up 0.94%, while Palantir closed down 0.44%, and BullFrog AI closed down 5.19%. Chinese stocks rose and fell. The Nasdaq Golden Dragon China Index closed up 0.28%, and fell 1.5% for the week. Among ETFs, the China Technology Index ETF (CQQQ) closed up 1.37%. The China Internet Index ETF (KWEB) closed up 0.88%. Among the popular Chinese stocks, Alibaba's total market value exceeds Pinduoduo. Bilibili closed up 15.28%, Canadian Solar rose more than 9.8%, Ehang Intelligent rose about 5.4%, JinkoSolar rose more than 4.8%, Alibaba rose more than 2.9%, Zai Lab rose about 2.7%, GDS rose about 2.4%, NIO and Douyu rose more than 2.2%, Shell rose about 1.5%, Xpeng rose more than 1.4%, Vipshop rose more than 1.3%, Daquan New Energy, JD.com, Atour, Good Future, Boss Direct Recruitment rose more than 0.8%, Tencent Music, Baidu, Huazhu, Autohome, NetEase, Ideal, Qifu Technology, Shanda Technology, Ctrip closed down at most 0.99%, Miniso, Yum China, ZTO Express fell at most 1.9%, New Oriental fell about 2.2%, iQiyi, Baijiayun, Zhongjin Medical fell at least 10%. Weight loss drug concept stocks generally closed higher, with Ventyx Biosciences closing up 14.72%. Hims, ShuoDi Biotech ADR, and Amgen, suppliers of "affordable weight loss drugs", rose at least 1.6%. Novo Nordisk ADR also rose less than 0.1%. Eli Lilly closed down more than 0.1%, breaking away from its historical closing high. It rose 3.32% this week, after rising 10.85% and 3.56% in the previous two weeks. Among the stocks with large fluctuations, an insurance company closed down 92.63%. As of Thursday's close, the stock has risen more than 500% since its listing in March. Sequans Communications closed up 111.71%, and its 4G Internet of Things technology was acquired by Qualcomm. Wok Medical Technology Group (WOK) broke the issue price on the first day of its US IPO, falling 64% to $3.60. The previous IPO issue price was $10.00 per share.Powell boosts Fed rate cut expectations, European stocks rebound for the third consecutive day, with a weekly gain of 1.3%, marking the longest winning streak since the end of March:

The pan-European Stoxx 600 index closed up 0.46%, rebounding 6.38% since the close on August 5th, with a weekly gain of 1.31%, marking the third consecutive week of gains. Nestlé's stock closed flat, as the CEO Mark Schneider stepped down due to poor company performance.

The German stock index closed up 0.76%, with a weekly gain of 1.70%, marking the third consecutive week of gains. The French stock index closed up 0.70%, with a weekly gain of 1.71%. The UK stock index closed up 0.48%, with a weekly gain of 0.20%. The Italian stock index closed up 1.02%, with a weekly gain of 1.84%. The Dutch stock index closed up 0.02%, with a weekly gain of 0.32%. The Spanish stock index closed up 1.09%, with a weekly gain of 3%.

"Powell Pivot Day" sees a significant drop in US Treasury yields. The short-end US Treasury yields fell sharply, with the two-year and 10-year US Treasury yields falling by more than 10 basis points and 6 basis points respectively after Powell's speech draft was released, and European bond yields followed the US Treasury yields with a significant drop:

US Treasuries: At the close, the two-year US Treasury yield, which is more sensitive to monetary policy, fell by 9.46 basis points to 3.9090%, dropping nearly 11 basis points at one point and breaking below 3.90%, with a weekly drop of 13.86 basis points, falling below the 4% threshold. The 10-year US benchmark Treasury yield fell by 5.50 basis points to 3.7971%, with a weekly drop of 8.55 basis points, and both are close to erasing all gains since August 5th.

European Bonds: The benchmark 10-year German Bund yield fell by 2.0 basis points, with a weekly drop of 2.2 basis points, generally showing a V-shaped trend. The two-year German Bund yield fell by 2.4 basis points, with a weekly drop of 5.9 basis points. The 10-year French government bond yield fell by 2.6 basis points, with a weekly drop of 4.8 basis points. The 10-year Italian government bond yield fell by 5.0 basis points, with a weekly drop of 6.5 basis points. The 10-year Spanish government bond yield fell by 3.5 basis points, with a weekly drop of 7.0 basis points. The 10-year Greek government bond yield fell by 4.5 basis points, with a weekly drop of 6.0 basis points. The two-year UK government bond yield fell by 4.4 basis points, with a weekly drop of 0.4 basis points. The 10-year UK government bond yield fell by 4.8 basis points, with a weekly drop of 1.4 basis points.

US Treasury yields plummet, with short-term Treasury yields leading the decline (two-year down 10bps on Friday, down 14bps for the week, 30-year down 2bps on Friday).

The US dollar index fell by more than 0.8% to a 13-month low, with non-US currencies generally strengthening on "Powell Pivot Day", the British pound at its highest in two and a half years, the Japanese yen rising by more than 1% towards 144, and the offshore renminbi surging by 305 points:

Dollar: The US dollar index DXY, which measures against a basket of six major currencies, fell by 0.82% to 100.678 points, significantly diving after the release of Fed Chairman Powell's speech at 22:00 Beijing time, falling to 100.602 points at one point, breaking below the December 28, 2023 bottom of 100.617 points, approaching the July 14, 2023 bottom of 99.578 points, with a weekly drop of 1.74%, showing an overall trend of fluctuating downward.

The Bloomberg US dollar index fell by 0.97% to 1223.14 points, falling to 1222.53 points at 02:16, approaching the December 28, 2023 bottom of 1206.93 points, with a weekly drop of 1.24%, and the overall decline significantly widened after Powell's speech.The US dollar fell to its lowest point of the year, with non-US currencies generally rising. The euro rose 0.75% against the US dollar, trading at 1.1193, accumulating a 1.54% increase for the week; the British pound rose 0.95% against the US dollar, trading at 1.3216, reaching its highest level since March 2022, accumulating a 2.10% increase for the week; the US dollar fell 0.54% against the Swiss franc, trading at 0.8477, accumulating a 2.18% decrease for the week; among commodity currencies, the Australian dollar rose 1.37% against the US dollar, trading at 0.6797, accumulating a 1.90% increase for the week, the New Zealand dollar rose 1.61% against the US dollar, trading at 0.6236, accumulating a 3.01% increase for the week, and the US dollar fell 0.79% against the Canadian dollar, trading at 1.3510, accumulating a 1.24% decrease for the week.

Analysts say that the relative resilience of the UK PMI data indicates a very low possibility of consecutive interest rate cuts. In the coming weeks, the British pound still has room to gain further support. Currently, the British pound is the preferred currency to express a short dollar investment view.

Japanese Yen: The Japanese yen rose 1.31% against the US dollar, trading at 144.37 yen, and reached a daily high of 144.05 yen at 03:36, accumulating a 2.21% increase for the week. The yen rose 0.57% against the euro, trading at 161.60 yen, accumulating a 0.74% increase for the week; the yen rose 0.35% against the British pound, trading at 190.786 yen, accumulating a 0.15% increase for the week.

In terms of news, on Friday, Bank of Japan Governor Haruhiko Kuroda spoke for the first time after "Black Monday," stating that the Bank of Japan does not intend to hastily raise interest rates, but will continue to adjust monetary policy if the economic direction aligns with expectations. Analysts say that Kuroda's statement maintains a neutral and cautious stance, neither dovish nor hawkish, to avoid disrupting the market. Japanese Finance Minister Shunichi Suzuki said that conditional foreign exchange intervention will be conducted in response to sudden exchange rate fluctuations.

Offshore Renminbi: The offshore renminbi (CNH) rose 305 points against the US dollar, trading at 7.1162 yuan, with overall trading in the range of 7.1488-7.1132 yuan during the session, accumulating an approximate increase of 470 points for the week.

Most cryptocurrencies rose. The largest market capitalization leader, Bitcoin, rose 5.91% at the end of the day, trading at $63,915.00, with Powell's speech script breaking the market silence and the increase rapidly expanding, accumulating a 6.54% increase for the week, overall trending upwards. Spot Bitcoin has accumulated an increase of over 8.5% in the last seven natural days (since last Friday's trading ended), surpassing $64,300, with the overall increase significantly expanding after Powell's speech. The second-largest, Ethereum, rose 5.50% at the end of the day, trading at $2,760.50, accumulating a 4.74% increase for the week.

Bitcoin soared, approaching $64,000.

Interest rate cuts can stimulate economic growth and benefit oil demand. US oil and Brent oil rebounded for the second consecutive day on Friday, rising more than 2.3%, but both still accumulated a decrease for the week. This is due to the progress in ceasefire agreements that helped alleviate supply concerns, as well as a slowdown in the outlook for oil demand. European natural gas futures accumulated a decrease of more than 7% for the week:

US Oil: WTI October crude oil futures closed up $1.82, a 2.49% increase, at $74.83 per barrel. The week's total decrease was 2.37%. After the US stock market midday, it rose more than 2.8% to a high of $75.06 per barrel, setting a new intraday high since August 19.Brent oil: Brent October crude oil futures closed up $1.80, rising by approximately 2.33%, at $79.02 per barrel. The week saw a cumulative decline of 0.83%. After the U.S. stock market midday, the price rose nearly 2.7% to a high of $79.27 per barrel.

Views from Wall Street's major banks, ING analysts pointed out that OPEC+ is still concerned about the recent weakness in the oil market and may have to abandon the plan to increase crude oil supply starting from October, of course, this will depend on the trading situation of the oil market at the end of September. Morgan Stanley said on Friday that the decline in oil inventories supports oil prices. Over the past four weeks, oil inventories have decreased by about 1.2 million barrels per day, and it is expected that this situation will continue in the third quarter. Some analysts say that the previous decline has brought the oil market close to the oversold area. The U.S. CFTC said that the bullish sentiment for WTI crude oil hit an eleven-week low.

Natural gas: U.S. September natural gas futures closed down nearly 1.51%, at $2.0220 per million British thermal units. The week saw a cumulative decline of 4.76%. The European benchmark TTF Dutch natural gas futures fell 0.34%, at €36.700 per megawatt-hour, with a weekly decline of 7.15%, showing an overall downward trend. ICE UK natural gas futures rose 0.55%, at 88.000 pence per kilowatt-hour, with a weekly decline of 7.64%, showing an overall downward trend.

Oil prices also rose sharply, rebounding further from the low point in early August.

The softening of the U.S. dollar and U.S. Treasury yields supported the rise in precious metals, with spot gold rising nearly 1.4% at its highest during the trading day, and silver once rising by more than 3.1%. London's basic industrial metals rose collectively, with copper closing up 1.73%, and zinc's weekly gain being the best since April:

Gold: COMEX December gold futures closed up 1.20%, at $2546.80 per ounce, with a weekly gain of 0.39%. After Powell's speech, spot gold rose nearly 1.4%, hitting a daily high of $2518.36 per ounce, approaching the historical high of $2531.75 set on August 20, with a weekly gain of 2.27%.

Silver: COMEX September silver futures closed up 2.78%, at $29.855 per ounce, with a weekly gain of 3.50%. After Powell's speech, spot silver saw a short-term rise, with the U.S. stock market morning session hitting a daily high of more than 3.1%, approaching the $30 mark, and ultimately closing up 2.86%, at $29.8157 per ounce, with a weekly gain of 2.89%.

Analysts pointed out that Powell's dovish signal triggered another surge in gold prices, and it is expected that gold will continue to rise before the Federal Reserve meeting in September. Driven by expectations of interest rate cuts, gold prices are expected to climb to the $2550 to $2600 range. U.S. CFTC data shows that the bullish sentiment for gold hit a four-year high.

London's basic industrial metals rose collectively. The economic barometer "Dr. Copper" closed up 1.73%, at $9288 per ton, with a weekly gain of more than 1.88%. London lead rose by about 3.12%, with a weekly gain of about 3.98%. London tin rose by more than 1.84%, with a weekly gain of more than 3.16%. London aluminum rose by 2.50%, with a weekly gain of about 7.44%. London zinc rose by about 1.89%, with a weekly gain of 5.43%. London nickel rose by more than 0.93%, with a weekly gain of 2.35%. London cobalt closed flat, with a weekly decline of about 2.41%.

[The following content was updated before 23:00 on August 23]On Friday, August 23, Federal Reserve Chairman Jerome Powell "dove" at the Jackson Hole Global Central Bank Annual Meeting, stating that it was time to adjust policies. He did not seek or welcome further cooling of the job market, and his confidence in inflation returning to 2% had strengthened, confirming market expectations for a "dovish" speech from Powell.

Analysts said that Powell's policy shift was complete, and he showed a full dovish stance in his speech. Two years ago, at the same time, he also indicated that the Fed would accept economic recession as the price of restoring inflation.

After Powell's speech was released, the expectation of interest rate cuts increased significantly, boosting risk appetite and leading to a rise in the stock market. The U.S. stock market opened higher and accelerated its rise, the U.S. dollar index fell sharply, U.S. Treasury yields plummeted across the board, and commodity prices were driven up. Spot gold hit a new high, and oil prices also rose.

U.S. stocks opened higher and accelerated their rise:

- The tech-heavy Nasdaq Composite opened up 153.37 points, or 0.87%, and its increase once expanded to over 1.8%.

- The S&P 500 opened up 31.85 points, or 0.57%, and its increase once expanded to over 1.2%.

- The Dow Jones Industrial Average, closely related to the economic cycle, opened up 166.34 points, or 0.41%, and its increase once expanded to over 1%.

- The Russell 2000 small-cap index once rose by more than 2.7%.

At the beginning of the U.S. stock market, most major industry ETFs rose, with regional bank ETFs, semiconductor ETFs, and global technology stock index ETFs all rising by more than 1%.

The "tech FAANGs" (Facebook, Amazon, Apple, Netflix, Google) collectively rose. Nvidia's increase once expanded to over 4.6%, Tesla once rose by more than 5%, Apple once rose by more than 1.6%, Amazon once rose by more than 1.5%, "Metaverse" Meta once rose by more than 1.4% and then halved its increase, Google A once rose by more than 1.3%, and Microsoft once rose by more than 0.8% and then gave up most of its gains.

Chip stocks accelerated their rise. The Philadelphia Semiconductor Index once rose by more than 3.5%. Qualcomm once rose by more than 3.1%, Broadcom once rose by more than 3.6%, Intel once rose by more than 3.9%, TSMC's ADR once rose by more than 4%, while Micron Technology once fell by more than 2.4% and then halved its decline.

AI concept stocks mostly rose. BullFrog AI once fell by more than 2.9%, Oracle fell by more than 0.3%, while Nvidia's AI voice company SoundHound AI once rose by more than 3.6%, and "AI darling" Advanced Micro Devices once rose by more than 3.3% and then gave up most of its gains.

Chinese concept stocks rose more than they fell. The NASDAQ Golden Dragon China Index once rose by more than 0.7%. Among popular Chinese concept stocks, Bilibili once rose by more than 14%, Alibaba rose by more than 3.3%, while Pinduoduo once fell by more than 6.1%.It is worth noting that Alibaba's market capitalization has surpassed that of Pinduoduo.

After the release of Powell's speech, the US dollar index plummeted, benefiting the G10 currencies. The ICE US Dollar Index dived from above 101.50 points to below 100.90 points, with the overall daily decline expanding to over 0.6%, approaching the bottom on December 28, 2023. The Bloomberg US Dollar Index fell by about 0.8%. Non-US currencies rose, with the yen gaining more than 0.7% against the US dollar, breaking through 145. The British pound gained more than 0.6% against the US dollar, reaching 1.32, setting a new high since March 2022.

The "bull market in US Treasuries intensifies," with yields on US Treasuries plummeting across the board. After Powell's speech was released, the yield on the 10-year US Treasury note dived from 3.8350% to close to 3.8%, with the overall daily decline expanding to over 5 basis points. The yield on the two-year US Treasury note dived from above the psychological threshold of 4% to below 3.9450%, with an overall daily drop of about 6 basis points.

The softening of the US dollar and US Treasury yields together boosted commodity prices, with gold prices surging in the short term. Spot gold rose by more than 1.2%, hitting a daily high of $2,515.55 per ounce, rising by more than $15 after Powell's speech was released. Silver approached the $30 mark. Oil prices also rose, with US oil prices surging by more than 2.4% at one point.

[Content updated before 21:50]

The Jackson Hole Global Central Bank Annual Meeting has opened, with several Federal Reserve officials supporting a rate cut in September, and today Powell will deliver a significant speech.

Waiting for Powell's signal on rate cuts, before the US stock market opened today, futures of the three major US stock indices rose, with Chinese concept stocks generally rising, Bilibili up by nearly 6%, and chip stocks rising.

The three major US stock indices opened collectively higher, with Bilibili up by 9%, and Nvidia up by 2%.

European stocks opened slightly higher, with the German DAX index up by 0.24%.

Most Asia-Pacific stock indices closed higher, with the Nikkei 225 index up by 0.4%, and the Vietnamese VN index up by 0.2%.U.S. Treasury yields edged lower, with Atlanta Fed Chairman Bostic indicating that the Federal Reserve is "close" to a rate cut.

Spot gold rose 0.66% during the day, once again surpassing $2,500.

Oil prices increased, with WTI crude oil surging by 2% at one point.

【The following content was updated at 21:30】

U.S. stocks opened slightly higher, with the Nasdaq up 0.9%, the Dow Jones up 0.4%, and the S&P 500 up 0.6%.

Semiconductor stocks and Chinese concept stocks generally rose, with Bilibili increasing by about 9%, Nvidia by about 2%, and JD.com by about 1%.

Some monkeypox-related concept stocks rose, with GeoVax Labs increasing by about 5%.

A certain insurance stock fell by about 83%, and as of Thursday's close, the stock had risen by more than 500% since its listing in March.

Sequans Communications surged by over 210%, following the acquisition of its 4G IoT technology by Qualcomm.

【The following content was updated at 20:50】U.S. Treasury yields edged lower after Atlanta Federal Reserve President Bostic indicated that the Federal Reserve is "close" to cutting interest rates.

Digital service provider Youjia Insurance plummeted as much as 89% in pre-market trading, continuing the decline from the previous day. The stock had soared 396% over the 11 trading days through Wednesday, reaching a record high. As of Thursday's close, the stock had risen 538% since its listing in March.

WTI crude oil prices rose up to 2% during the day, currently at $74.25 per barrel; Brent crude oil prices are currently up 1.3%, at $77.25 per barrel.

Spot gold prices rose 0.66% during the day, once again surpassing $2,500.

[The following content was updated at 16:10]

U.S. stock index futures rose, with Nasdaq futures up 0.6%.

Most semiconductor stocks rose, with Nvidia up over 1%, and TSMC up 1.5%.

Chinese concept stocks generally rose, with Bilibili up nearly 6%, Alibaba up over 2%, and JD.com up nearly 2%. NetEase showed little fluctuation in pre-market trading, after its U.S. shares fell 11% following the release of its Q2 report.

European major stock indices opened slightly higher, with the Euro Stoxx 50 opening up 0.14%, the German DAX up 0.24%, the UK's FTSE 100 up 0.27%, and the French CAC 40 up 0.13%. European stocks are currently maintaining the opening gains.

Most Asia-Pacific stock indices closed higher, with the Nikkei 225 closing up 0.4% at 28,364.27 points. The Vietnam VN Index closed up 0.2% at 1,285.32 points. The South Korean Seoul Composite Index closed down 0.2%.Main bulk commodities are on the rise, with spot gold prices hovering around $2,500. UBS forecasts that as the Federal Reserve begins to lower interest rates, the cost of holding gold will decrease, leading to further inflows of funds into gold ETFs.

The calendar from SeeWoo shows that at 22:00 Beijing time today, Federal Reserve Chairman Powell will speak on the economic outlook at the Jackson Hole Annual Meeting, and the US new home sales data for July will be released; at 23:00, Bank of England Governor Bailey will speak at the Jackson Hole Annual Meeting, and Federal Reserve Bank of Philadelphia President Patrick Harker will be interviewed by Bloomberg; at 00:30 the next day, Federal Reserve Bank of Chicago President Goolsbee will speak on CNBC.