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U.S. stocks rose strongly again.

After the U.S. Department of Labor released data on initial unemployment claims, U.S. stocks rose collectively, with the Nasdaq performing particularly strongly.

Among them, Nvidia rose strongly and its stock price returned to US$100.

The Nasdaq China Golden Dragon Index also rose sharply.

Spot gold and silver prices have skyrocketed.

European stock markets, the three major indices of Britain, France and Germany fell slightly.

Important data released by the United States

On Thursday, August 8, data released by the U.S. Department of Labor showed that the number of first-time unemployment claims in the United States in the week ended August 3 was 233,000, lower than the expected 240,000 and lower than the previous value of 249,000.

As of the week ending August 3, the number of people continuing to apply for unemployment benefits rose to 1.875 million, a new high since November 2021. The four-week average number of people continuing to apply for unemployment benefits also hit a new high.

In addition, the monthly rate of wholesale sales in the United States in June was -0.6%, in line with expectations of 0.30%, and the previous value was revised from 0.40% to 0.3%.

"When you talk about the labor market, it's multidimensional, not a single number. So I think the U.S. initial jobless claims are one of the numbers," said Marc Chandler, market strategist at Bannockburn Global Forex. "Today's initial claims were a little lower than people expected, although the four-week moving average is still higher. The idea that a recession is coming doesn't seem to be credible."

Are recession concerns still there?

It is worth noting that last week, the United States released July non-farm data, with an increase of 114,000 jobs, an increase of 175,000 expected, and a previous increase of 206,000 revised to 179,000. The U.S. unemployment rate in July was 4.30%, expected to be 4.10%, and the previous value was 4.10%.

The data was far below expectations, sparking concerns about an economic recession, which in turn triggered a sell-off. On Wednesday, U.S. stocks also plunged, with the Nasdaq going from a sharp rise at the opening to a green at the end.

In addition, it is reported that while Buffett was aggressively selling off his holdings of U.S. stocks, he also purchased a large amount of short-term U.S. Treasury bonds in the second quarter.

As of the end of the second quarter, Berkshire Hathaway held short-term U.S. Treasury bills (4-52 weeks) of $234.6 billion, even more than the Federal Reserve. This was once again seen by market participants as a reason to worry about a U.S. recession, as Buffett once said that he would buy short-term Treasury bills during an economic crisis.

Editor: Peng Bo

Proofread by: Wang Chaoquan