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on the evening of september 6th, beijing time, the u.s. bureau of labor statistics released the august non-farm employment report.it shows that the number of non-farm employment in the united states increased by 142,000 in august, lower than the expected 165,000 and the previous value of 114,000; the unemployment rate in the united states in august was 4.2%, in line with expectations, a slight decrease from july, the first decline since march this year.

hourly wages increased by 3.8% year-on-year, slightly higher than the expected 3.7% and the previous value of 3.6%; hourly wages increased by 0.4% month-on-month, with the expected and previous values ​​of 0.3% and 0.2% respectively.

the labor force participation rate remained at 62.7%.

after the release of employment data, short-term u.s. treasury bonds soared, and the 2-year u.s. treasury bond yield fell in the short term, falling 11 basis points during the day. s&p 500 index futures remained low, and the u.s. dollar continued to fall.

the extent of the september rate cut remains undecided

according to the securities times,traders increased their bets that the federal reserve would implement a 50 basis point rate cut in september. as of 9:30 that evening, the probability of the federal reserve cutting interest rates by 50 basis points in september had risen to 50%.at the same time, new york fed president williams said in his latest speech that it is appropriate to lower the federal funds rate now, and today's data is consistent with the slowdown in the economy and job market.

nick timiraos, the "federal reserve mouthpiece," said the non-farm payrolls report could provide a clear signal about the extent of the fed's first rate cut, and whether it was 25 basis points or 50 basis points, market pricing would immediately rise to 90%. but this non-farm payrolls report did not solve this problem well.currently, the market is pricing in a 50/50 rate cut, whether it will be a 25 basis point or a 50 basis point rate cut.the headline nfp wasn’t bad enough to shift the baseline to a 50bp cut, but given the revised data, it wasn’t convincing enough to completely kill off speculation of a bigger cut.

nasdaq fell more than 1%, gold and silver prices plunged

tonight, the u.s. stock market opened almost flat, and thenthe nasdaq plunged, and the dow and s&p also turned green. as of press time, the dow fell 0.33%, the nasdaq fell 1.51%, and the s&p 500 fell 0.89%.

large technology stocks fell collectively. tesla fell 4.89%, google and amazon fell more than 2%, microsoft and meta fell more than 1%, and apple fell 0.37%.

nvidia fell 4.06%, and its market value evaporated by us$106.706 billion (equivalent to rmb 756.329 billion).according to statistics, nvidia founder and ceo jensen huang sold nearly 5.3 million shares of nvidia stock at a price of 120,000 shares each in a series of transactions from june 13 to september 4, with a total amount of approximately us$633 million.

spot gold and silver prices plunged, with london gold falling 0.53% and london silver falling 1.56%.

daily economic news is compiled from securities times and public information

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