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cailianshe news, september 6 (editor: xiaoxiang)the u.s. non-farm payrolls data to be released at 20:30 beijing time tonight will be the key to determining the extent of the federal reserve's interest rate cut in september. before the release of this important data, the global stock, bond and foreign exchange markets were turbulent.

on thursday, the three major u.s. stock indexes rose and fell amid the twists and turns of the market. the s&p 500 closed down 0.3%, reducing its year-to-date gains to 15%. the dow jones industrial average also fell 219 points, or 0.5%, amid uneasiness. only the nasdaq composite index, which is concentrated in technology stocks, closed up 0.3% throughout the day.

wasif latif, president and chief investment officer at sarmaya partners, said the market has been on a roller coaster of risk-on and risk-off as people are watching the data., the fed has said 'we have to pay attention to the data'. the market also wants to understand the landing scenario of the us economy from the data and what this means for the fed's interest rate policy."

the u.s. stock market has historically performed poorly in september, with the s&p 500 index falling an average of about 1.2% in september since 1928. so far this week, the index has indeed suffered a "bad start" in early september - the cumulative decline has exceeded 2.5%. given the recent emphasis on the labor market by federal reserve chairman powell, many on wall street believe that friday's u.s. non-farm payrolls data will determine whether the fed will cut interest rates by 25 basis points or 50 basis points this month, which will directly determine the direction of u.s. stocks.