Stocks fell in New York on the inflationary burden of higher oil prices and fears that Fed tightening could continue.  On the 5th Eastern Time, the Dow Jones 30 Industrial Average of New York Stock Exchange (NYSE) closed at 34,641.97 points, down 195.74 points or 0.56% from the previous trading day.  The Standard & Poors 500 Index closed at 4496.83 points, down 18.94 points or 0.42% from the previous trading day, and the Nasdaq Index closed at 14020.95 points, down 10.86 points or 0.08% from the previous trading day.  On that day, the international oil price dived in the raw material market, which brought downward pressure to the New York stock market.  Rising oil prices are the most important factor driving up inflation.  Saudi Arabias SPA news agency reported on the same day that Saudi Arabia will continue to voluntarily reduce production until the end of this year.  If Saudi Arabia continues to reduce production by 1 million barrels per day, the daily crude oil output of Saudi Arabia will be only about 9 million barrels per day from October to December this year.  On the same day, the price of West Texas Light Crude Oil (WTI) in October was once higher than $90/barrel, but closed at $86.69/barrel. This is the highest since November 2022.  Economic indicators do not perform well.  The US Employment Trend Index (ETI) for August was 113.02, down from the previous value of 114.71. ETI index is the leading index to measure the job market, and the decline of the index means that employment may decrease.  Following last weeks August non-farm payrolls report, the ETI index suggests that the overheated labor market in the United States is slowing down.  In July, factory re-orders in the United States decreased by 2.1% month-on-month. Factory orders fell for the first time in five months.  According to Goldman Sachs analysis, the probability that the US economy will fall into recession in the next 12 months is only 15%. This lowered the original recession forecast by 20%.  Goldman Sachs believes that the possibility of the Federal Reserve raising interest rates in September is now completely ruled out. At the same time, it is analyzed that the Federal Reserve will face more difficult conditions for raising interest rates in November.  Rising oil prices increase the inflationary burden, and the yield of US Treasury bonds rises, which also brings psychological pressure to risky assets.  On that day, the 10-year US bond yield rose to 4.27% in intraday trading, and the 2-year yield rose to a high of 4.97%.  Even the hawkish representatives of the Fed gave some loose information.  Federal Reserve Governor Christopher Waller said in an interview with CNBC: "We saw some very good economic indicators last week. If we continue, we can wait for economic indicators."  According to the analysis, the price increase has improved for two consecutive months in recent years, and the overheated job market has also eased, which means that the Federal Reserve has gained a more cautious operation range.  Historically, September was the S&P 500s worst-performing average yield month of the year.  However, some analysts believe that the New York stock market performed strongly last week, and the strong driving force at the beginning of the month may continue.  Chief technology strategist at LPL Financial said: "The momentum [driving force] of the recent strength of the New York stock market suggests that the New York stock market may not be so weak in September."  From the sector point of view, aviation stocks that are greatly affected by oil prices have a large decline.  United Airlines and American Airlines fell about 2% respectively, and Delta Air Lines also fell about 2.5%. Southwest Airlines shares also fell 1.5%.  Carnival, a cruise company, also fell more than 2% due to rising oil prices.  Tesla rose more than 4%, while MetaPlatforms (Facebook) and Qualcomm rose about 1%.  From the perspective of industry indexes, the indexes related to energy, technology and communication rose. Conversely, financial, fitness, industrial, materials, real estate and utilities-related indexes fell.  The Federal Reserve will hold a two-day Federal Open Market Committee (FOMC) from the 19th of this month.  Chicago Mercantile Exchange (CME) FedWatch shows that the Federal Funds (FF) interest rate futures market closed with a 93.0% chance that the Federal Reserve will freeze interest rates at its September meeting.  It is estimated that the probability of freezing interest rates before the November meeting is 55.5%, and the probability of raising interest rates by 0.25 percentage points is 41.7%.  Chicago Board Options Exchange (CBOE) Volatility Index (VIX) closed at 14.01 points, up 0.19 points or 1.37% from the previous trading day. 

Monday (September 4) in the United States is the Labor Day holiday, and the U.S. stock market is closed. After Hong Kong stocks surged over 400 points at the start of September yesterday, the front-month index futures opened nearly 100 points lower this morning.All three major European stock markets closed down, with British, German and French stock markets recording slight declines. Londons FTSE 100 index closed at 7,452 points, down 0.16%; Frankfurts DAX index fell for the second consecutive day, closing at 15,824 points, down 15 points or 0.1%. The Paris CAC index fell for the fourth consecutive day, closing at 7279 points, down 17 points or 0.24%.Hong Kong stocks closed significantly higher yesterday, closing at 18,844 points, up 462 points or 2.51%. The Hang Seng Index company changed horses, and the market turnover reached over 152.6 billion. The spot-month index futures opened 99 points lower at 18703 this morning.China will send Prime Minister Li Qiang to attend the G-20 summit in India, indicating that President Xi Jinping will be absent.Chinese Foreign Minister Wang Yi met with Italian Foreign Minister Tajani and said that China-Italy cooperation in jointly building the "Belt and Road" has been fruitful.Chinese real estate companies are reaching the peak of bond maturity again, and the grace period for unpaid coupons on Country Garden (02007) US dollar bonds has entered a countdown. The Shenyang Real Estate Bureau issued a notice saying that the city will cancel restrictive purchase and sale policies to boost housing demand.The Reserve Bank of Australia is expected to keep interest rates unchanged on Tuesday.Brent oil futures rose for the fifth consecutive time, rising 0.5% to US$89 a barrel, near the high in November last year, as investors expected OPEC+ production cuts to tighten supply in the crude oil market.At 9:45 this morning, the Mainland announced Chinas August Caixin Services PMI, which was expected to be 53.5, compared with the previous value of 54.1.Focus stocksLOccitane (00973): On August 11, it stated that its controlling shareholder may make a voluntary comprehensive takeover offer. However, LOccitane announced today that it received notification from its controlling shareholder yesterday that the shareholder had decided not to proceed with the possible transaction. Shares opened 28.4% lower this morning.Swire Properties (01972): Announced that the company, through its wholly-owned subsidiaries Jinyang and Lianfeng, submitted bids for listing transfers to acquire 40% of each of Dongmao shares and Yaolong shares, involving a reserved consideration of approximately 6.594 billion and About 3.116 billion yuan.

Monday (September 4) in the United States is the Labor Day holiday, and the U.S. stock market is closed. After Hong Kong stocks surged over 400 points at the start of September yesterday, the front-month index futures opened nearly 100 points lower this morning.All three major European stock markets closed down, with British, German and French stock markets recording slight declines. Londons FTSE 100 index closed at 7,452 points, down 0.16%; Frankfurts DAX index fell for the second consecutive day, closing at 15,824 points, down 15 points or 0.1%. The Paris CAC index fell for the fourth consecutive day, closing at 7279 points, down 17 points or 0.24%.Hong Kong stocks closed significantly higher yesterday, closing at 18,844 points, up 462 points or 2.51%. The Hang Seng Index company changed horses, and the market turnover reached over 152.6 billion. The spot-month index futures opened 99 points lower at 18703 this morning.China will send Prime Minister Li Qiang to attend the G-20 summit in India, indicating that President Xi Jinping will be absent.Chinese Foreign Minister Wang Yi met with Italian Foreign Minister Tajani and said that China-Italy cooperation in jointly building the "Belt and Road" has been fruitful.Chinese real estate companies are reaching the peak of bond maturity again, and the grace period for unpaid coupons on Country Garden (02007) US dollar bonds has entered a countdown. The Shenyang Real Estate Bureau issued a notice saying that the city will cancel restrictive purchase and sale policies to boost housing demand.The Reserve Bank of Australia is expected to keep interest rates unchanged on Tuesday.Brent oil futures rose for the fifth consecutive time, rising 0.5% to US$89 a barrel, near the high in November last year, as investors expected OPEC+ production cuts to tighten supply in the crude oil market.At 9:45 this morning, the Mainland announced Chinas August Caixin Services PMI, which was expected to be 53.5, compared with the previous value of 54.1.Focus stocksLOccitane (00973): On August 11, it stated that its controlling shareholder may make a voluntary comprehensive takeover offer. However, LOccitane announced today that it received notification from its controlling shareholder yesterday that the shareholder had decided not to proceed with the possible transaction. Shares opened 28.4% lower this morning.Swire Properties (01972): Announced that the company, through its wholly-owned subsidiaries Jinyang and Lianfeng, submitted bids for listing transfers to acquire 40% of each of Dongmao shares and Yaolong shares, involving a reserved consideration of approximately 6.594 billion and About 3.116 billion yuan.