Previously released data showed that the number of initial jobless claims in the United States was in line with expectations, but the producer price index (PPI) was higher than market expectations. Data show that the number of initial claims for unemployment benefits in the United States fell from 38.7 to 37.5, which was in line with market expectations and was not higher than expected for the first time in three weeks. The number of continued claims for unemployment benefits also continued to decline, from 2.98 million to 2.866 million. On the whole, the data shows that the labor market is slowly improving as expected, but it is still far from the pre-epidemic level. At the same time, the spread of the Delta strain has also cast a shadow on the subsequent recovery.

At the same time, PPI remains high. As a leading indicator of CPI, rising PPI will put upward pressure on CPI. In July, the annual rate of PPI in the United States rose from 7.3% in June to 7.8%, a record high. The market originally thought it would remain at the level of June and would not rise again; the monthly core PPI rate also rose from 5.6% to 6.2 %. However, the monthly PPI rate remained at 1.0% in June, but the market was originally expected to fall back.

The U.S. stock market hit a record high, even though the S&P 500 index fell into the narrowest trading range since the global financial market turmoil triggered by the new crown epidemic. Healthcare and technology stocks drove the S&P 500 Index to a record high for the third consecutive trading day, and it was also the 47th new high this year. Compared with the epidemic low reached in March last year, the benchmark index has almost doubled. However, the volatility is narrowing. Its average daily volatility in August is only 0.5%, which is expected to become the calmest month since November 2019.

David Kostin, chief equity strategist at Goldman Sachs, said that the stock market is becoming what a proverb describes-because there is no other choice-this is ultimately a story of capital flow. From a valuation perspective, according to the current interest rate environment, stocks are The value is reasonable.

Before the US stock market on August 13 (Friday), blockchain concept stocks rose, Bit Mining (BTCM.US) rose 10.75%, Future Financial Technology (FTFT.US) rose 6.79%, and EBON.US Up 4.74%, Bit Digital (BTBT.US) up 4.46%, Ninth City (NCTY.US) up 4.36%, Riot Blockchain (RIOT.US) up 3.77%, and Marathon Digital (MARA.US) up 3.61%. Bitcoin stood at US$46,000 per coin, up nearly 4% in the day.

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