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china fund news reporter taylor

brothers and sisters, tonight european and american stock markets are soaring! wall street traders are betting that the federal reserve will be able to achieve a soft landing for the economy, and stock markets are hitting record highs.

global surge

on the evening of the 19th, u.s. stocks maintained their upward trend in early trading on thursday, with the dow jones and s&p hitting intraday highs. the federal reserve cut interest rates for the first time in four years, boosting risk assets.

the dow jones industrial average rose by more than 400 points and the nasdaq composite index rose by nearly 2%.

the latest economic data showed that the number of first-time unemployment claims in the united states fell by 12,000 last week to 219,000, the lowest since may this year, and the estimated number was 230,000. this shows that despite the slowdown in recruitment, the labor market remains healthy. this confirms to some extent that the federal reserve is working to achieve a soft landing for the economy.

big tech stocks surged on the back of rate cuts.

tom lee, head of research at fundstrat global advisors, said this fed rate cut cycle sets the stage for strong market performance over the next month or three months.

adam crisafulli, founder of vital knowledge, said: "as the market digests the federal reserve's massive rate cut, the stock market will explode." he predicted that u.s. stocks can continue to rise until the u.s. election.

“despite some volatility following the fed’s rate cut, the s&p 500’s bull trend remains intact,” said fawad razakzada of city index and forex.com. “the fed’s decision to cut rates by 50 basis points was widely welcomed by investors. the move was seen as a bold but necessary measure to ease economic concerns without sending a panic signal similar to the 2008 financial crisis.”

in addition, chinese assets soared, with the nasdaq golden dragon index rising by more than 3%.

european stock markets rose collectively, with france soaring by more than 2%!

the development and reform commission is favorable

on september 19, the national development and reform commission held a press conference for september. at the meeting, jin xiandong, director of the policy research office and spokesperson of the national development and reform commission, responded to hot issues such as the current economic situation, stimulating the vitality of private investment, and stabilizing prices and ensuring supply of people's livelihood commodities during the national day holiday.

jin xiandong said that he will strengthen policy pre-research and reserves, and launch a number of incremental policy measures in a timely manner that are highly operational, effective, and accessible to the public and enterprises.

jin xiandong said that a new batch of landmark major foreign investment projects with traction and driving effects will be launched in due time to further consolidate the basic foundation of foreign investment. at present, the scope of application of the 144-hour transit visa exemption policy has been expanded to 37 ports, and the policy of facilitating the exchanges of tourists from various countries, especially international businessmen, has been implemented effectively.

jin xiandong said that the national development and reform commission will improve the implementation promotion mechanism and cooperate with relevant departments to study and propose specific policy measures such as household registration system reform, provision of basic public services in permanent residence, compulsory education for migrant children, and accelerated construction of affordable housing.

jin xiandong pointed out that in the next step, the national development and reform commission will continue to actively create conditions and remove barriers to entry, adhere to the principles of fairness, openness and justice on the premise of fully respecting the investment intentions of enterprises, and attract more private capital to participate in the construction of major projects such as nuclear power and railways.