{Economic Information Agency 8th Special Report} US stocks retreated from recent highs yesterday, as long-term bond yields remained elevated. Market concerns over persistent inflationary pressures and a high-interest-rate environment weighed on stock performance. The Dow Jones closed down 341.41 points, or 0.66%, at 51,179.87 points; the S&P 500 fell 17.16 points, or 0.22%, to 7,801.77 points; the Nasdaq declined 61.2 points, or 0.22%, to 27,538.69 points. In Hong Kong, the Hang Seng Index closed at 23,785, down 344 points or 1.4%, with turnover of HK$207.3 billion.
Regarding major economic events around the world, at 6:00 pm Hong Kong time, ECB Chief Economist Lane will participate in a fireside chat and take questions at Societe Generale's annual Global Markets Conference. At 6:30 pm, Bank of England Chief Economist Pill will deliver a speech at the London School of Economics. At 8:15 pm, Bank of England Governor Bailey will deliver a speech at the Central Bank of the Republic of Turkey. At 9:00 pm, Bank of England Deputy Governor Ramsden will speak at the West Midlands Growth Summit. At 10:40 pm, Minneapolis Federal Reserve Bank President Kashkari will participate in a discussion hosted by the bank. At 1:40 am on the 9th, St. Louis Federal Reserve Bank President Musalem will deliver remarks on the US economy and monetary policy.
On the data front, at 8:30 pm tonight, the US will release continuing claims for unemployment benefits, forecast to decline from 1.701 million to 1.7 million; initial jobless claims are expected to rise from 197,000 to 200,000. At 10:00 pm, the US will release August wholesale inventories, with the monthly growth forecast to narrow from 1.3% to 0.7%; August wholesale trade data will also be released. (wa)
Regarding major economic events around the world, at 6:00 pm Hong Kong time, ECB Chief Economist Lane will participate in a fireside chat and take questions at Societe Generale's annual Global Markets Conference. At 6:30 pm, Bank of England Chief Economist Pill will deliver a speech at the London School of Economics. At 8:15 pm, Bank of England Governor Bailey will deliver a speech at the Central Bank of the Republic of Turkey. At 9:00 pm, Bank of England Deputy Governor Ramsden will speak at the West Midlands Growth Summit. At 10:40 pm, Minneapolis Federal Reserve Bank President Kashkari will participate in a discussion hosted by the bank. At 1:40 am on the 9th, St. Louis Federal Reserve Bank President Musalem will deliver remarks on the US economy and monetary policy.
On the data front, at 8:30 pm tonight, the US will release continuing claims for unemployment benefits, forecast to decline from 1.701 million to 1.7 million; initial jobless claims are expected to rise from 197,000 to 200,000. At 10:00 pm, the US will release August wholesale inventories, with the monthly growth forecast to narrow from 1.3% to 0.7%; August wholesale trade data will also be released. (wa)
