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Cailianshe News, August 15 (Editor: Shi Zhengcheng)As US retail data exceeded expectations and initial jobless claims fell to the lowest level since early July, US stocks, which had swept away the shadow of recession, returned to the state of rising hand in hand. The data for three consecutive days this week roughly outlined a picture of "inflation under control and the economy is still relatively stable", which is enough to encourage the market to further repair.

As of closing,The S&P 500 rose 1.61% to 5,543.22 points; the Nasdaq rose 2.34% to 17,594.5 points; and the Dow Jones Industrial Average rose 1.39% to 40,563.06 points.

After rising for the sixth consecutive trading day,The Nasdaq and S&P 500 have both recovered from the "short fall" that began on August 1.On a more positive note, a return to 5,500 puts the S&P 500 not far from its all-time high of 5,669.67.

(Daily chart of S&P 500 and Nasdaq, source: TradingView)

Also affected by the economic data, market expectations for the Fed's interest rate cut have further narrowed.

The latest "Fed Watch" data before press time showed that The probability of a 25 basis point rate cut in September has risen to 74%.The yields of US Treasury bonds of various maturities also rose to varying degrees, with the yield of the 10-year US Treasury bond returning to above 3.9%. As the expectation of interest rate cuts fell, the US dollar regained its strength - the much-watched USD/JPY exchange rate rose above the 149 mark overnight.

(USD/JPY daily chart, source: TradingView)

For the ups and downs of these days,Interactive BrokersSteve Sosnick, chief strategist at , commented: "(Economy) hard landing, soft landing, or bumpy landing? The market has entered the state of 'putting the mattresses on the ground' (this is a line from the movie "The Godfather", meaning to enter a combat state)."

Sosnick further said: "But in these cases, it really doesn't matter what the economy is like. If you are tired enough, you can fall asleep anywhere. In the same way, if you are in a fear of missing out and chasing the rise mode, you will buy stocks no matter what."

As this week comes to an end, the market's eyes are beginning to look further ahead.Harris, a candidate for the US presidential election, will give her first public speech on economic policy on FridayThe Fed's updated schedule on Thursday showed that Powell will deliver a keynote speech at the Jackson Hole conference next Friday (August 23).

Hot stocks rise and fall

The market returned to being led by tech giants on Thursday.appleUp 1.35%,MicrosoftUp 1.18%AmazonUp 4.4%, META up 2.01%,Google-AUp 0.58%,TeslaUp 6.34%,NvidiaUp 4.05%,IntelUp 3.87%, AMD up 4.7%.

Chinese stocks also rose actively, with the Nasdaq China Golden Dragon Index rising 1.72%.AlibabaAfter the financial report was released, it closed up 0.09%.BaiduIt rose by 2.61%, Pinduoduo rose by 2.18%, JD.com rose by 4.25%, NetEase rose by 2.7%, NIO rose by 2.96%, Li Auto rose by 2.13%, and Xpeng Motors rose by 2.40%.

Other News

[The Biden administration announced the first batch of "drug procurement" negotiation results]

On Thursday (August 15th) local time, the Biden administration announced that it had reached a "historic" agreement with pharmaceutical companies. The negotiated new drug prices will save Medicare (federal health insurance) about $6 billion in net savings by 2026. In addition, the new drug prices will save participants $1.5 billion in out-of-pocket expenses.

Data released by the White House showed that the first 10 drugs included in the negotiation had price cuts ranging from 38% to 79%. The biggest price cut was Merck's diabetes-lowering drug Januvia, with a 30-day supply dropping from $527 to $113, while the monthly cost of Novo Nordisk's insulin injection pen NovoRapid also dropped from $495 to $119.

(Source: White House official website)