Summary: Dow Fell 1.04%&Nbsp; NASDAQ Lowered 0.78%

Thursday America equity market Fall. In his speech, Bernanke did not mention any specific policies to stimulate economic growth. He only reiterated that the Fed would discuss the stimulus measures at the next conference on interest rates, which disappointed investors.

At 16:00 p.m. Eastern time on September 8th (Beijing time September 9th 04:00), the Dow Jones Industrial Average fell 118.97 points, closing at 11295.89 points, or 1.04%, while the Nasdaq composite index dropped 19.80 points, closing at 2529.14 points, or 0.78%, while the standard & Poor's 500 index fell 12.58 points, or 1186.04 points, or 1.05%.

Financial and industrial sectors are leading a decline. Bank of America (BAC) Fall 3.5%, Boeing (BA) both fell 3.2%, and the two stocks are closely related to the US economic growth. Dollar General (DG) fell 5.5%, after the company said that a shareholder would sell 25 million shares of the company.

Ben Bernanke, chairman of the Federal Reserve, published a speech on the market at 1:30 p.m. EDT on Thursday, September 9th (1:30 a.m. Beijing time). Like his performance at the world Central Bank Conference in August 26th, Bernanke did not mention his views on the measures that the Federal Reserve can best promote the growth of the US economy.

Before his speech, there were market analysts who believe that Bernanke may explain before September 20th the two day of the Fed meeting what the Federal Reserve has the best strategy to stimulate economic growth.

KeyCorp Bruce chief investment strategist Bruce Bruce (McCain) said, "this is somewhat disappointing. It seems that he is unwilling to reveal anything new. Investors are eager to get some clear directions for future developments, but transparency is not enough now. "

The S & P 500 index yesterday gained the biggest one-day gain since August 23rd, partly because investors expected US President Obama's $300 billion stimulus package to boost growth.

President Obama will also deliver a much anticipated market speech at 7 p.m. Thursday, 7 a.m. Beijing time on Thursday. He is expected to extend the time for tax cuts and increase spending on infrastructure such as roads and bridges.

"Everyone is waiting for Obama's speech, but I don't think that's the factor of the left and right markets," Rockwell Global Capital chief market economist Cardillo Capital said. problem "

He pointed out that the decision of the German Constitutional Court on Wednesday pushed the US stock market up, and investors will continue to wait to see whether Germany or the European Central Bank have any new positive news. He believes that although the Federal Reserve will implement further stimulus policies, Bernanke will not give full play to the cards.

Cantor Fitzgerald, American market strategist Mark Marc (Pado), said: "Obama is not expected to submit a new plan to Congress, so the market's expectations for its speech may be overly optimistic, as is the expectation for Bernanke's speech. Bernanke may reiterate that there is nothing new in the speech at the annual meeting of the world central bank.

In his speech, Bernanke said that the US Congress and President Obama must ensure that the federal government's finance runs on a "sustainable track" over a long period of time, while warning that policymakers can not deny the fragility of the economic recovery.

Bernanke also said that the Fed's policymakers will explore various tools that can be used to stimulate economic growth at the next meeting, and are ready to use them when necessary.

In addition, the European Central Bank announced the 1.5% interest rate unchanged. The Bank of England has also kept interest rates unchanged and reiterated its acquisition of asset plans. Tyse, President of the European Central Bank, then appealed to the European Central Bank to cut interest rates despite the "downside risks" in the eurozone. Tyse said the euro zone economy is facing "particularly high uncertainty". The ECB lowered its economic growth forecast for the region in the next two years.

On the economic data side, the US Labor Department announced that the number of first jobless claims rose to 414 thousand in the week ending September 2nd. According to a survey by Bloomberg, economists expect an average of 405 thousand. Economists surveyed by MarketWatch expect the number of new jobless claims to increase by 2000.

The US Department of Commerce announced that the US trade deficit in July was US $44 billion 800 million. According to a Bloomberg survey, economists expect an average of 51 billion dollars.

New York - Euronext (NYSE Euronext) issued a statement on Thursday saying it would hold a silent tribute to the exchange members and thousands of other people who died in the 9.11 terrorist attacks on Friday. It was the official who rang the bell for the US stock market in September 17, 2001 that opened the door for US stocks on Friday.

European stock markets rose on Thursday. Japan's Nikkei 225 index closed up 0.3%, and Hongkong and Shanghai stock markets fell.

UBS will raise its gold price target by 50% next year, raising it to $2075 an ounce, because the expected global economic data will continue to be disappointing.

The New York Mercantile Exchange's gold futures in December rose 2.2%, to $1857.50 an ounce. Crude oil futures fell 0.3% to $89.05 a barrel.

Last week, the United States requested a 414 thousand higher unemployment rate than expected.

Data released by the labor department on Thursday showed that the number of first jobless claims increased by 2000 to 414 thousand in the week ending September 3rd, higher than the average estimate of 405 thousand of economists surveyed by Bloomberg.

Major enterprises are accelerating the pace of layoffs, increasing the risk of further slowing consumer spending. Data released by the Ministry of labor last week showed that the number of new jobs was zero last month, and the unemployment rate remained at 9.1%.

The number of initial jobless claims increased to 415 thousand from 411 thousand in the previous week. Compared with the fluctuating weekly figures, the moving average can weaken the influence of special factors, so it is regarded as a more accurate index to measure the employment trend.

The US trade deficit in July hit 09 years, the biggest drop in February.

The July international trade report released by the US Department of Commerce on Thursday showed that export growth of automobiles, aircraft and industrial machinery increased the total export volume to a record high. The trade deficit fell to its lowest level in 3 months, the biggest drop in February.

The trade deficit narrowed to $44 billion 800 million in July, down 13.1%. In July, exports increased by 3.6% to 178 billion US dollars, and imports dropped by 0.2% to US $222 billion 800 million, of which oil (9.78,0.00,0.00%) imports fell by 6% to 35 billion 500 million US dollars. The sharp increase in exports should provide an urgent support for the recession in the US economy.

GDP grew by 0.7% in the first half of this year, the lowest growth rate in two years since the recession ended. Economists expect the economy to rebound moderately in the second half of the year, and the GDP growth rate will rise to around 2%, part of which is the expansion of exports.

Bernanke: the rising trend of inflation has not become deep-rooted.

The Federal Reserve Chairman, Ben Bernanke, said on Thursday that he was not worried that the trend of rising inflation earlier this year would continue. Speaking to the Economic Club of Minneapolis today, he said: "it is very important that we have hardly seen signs that the trend of inflation has become deep-rooted this year so far". "Club," he said.

Bernanke pointed out that the sharp rise in inflation earlier this year was partly supported by rising gasoline and grain prices, but "inflation is expected to decline in the next few quarters, because the temporary effects will be weakened".

Bernanke also said that at the next monetary policy conference scheduled for later this month, the Fed chairman will discuss what tools the bank can use to boost the economic recovery process and make preparations for using these tools when necessary. He said the Fed governor is "ready to use these tools at a suitable time to promote a stronger economic recovery process on the premise of price stability". The Federal Open Market Committee (FOMC) is scheduled to hold its next policy meeting in September 20th and 21st. {page_break}

Trichet: euro zone economic outlook facing downside risks

The European central bank governor Tyse (Jean-Claude Trichet) said on Thursday that the euro zone's economic growth slowed down in the second quarter and that its economic outlook is facing downside risks. He pointed out that the threat faced by the euro area economy has been "enhanced", the inflation risk has eased, and the sovereign debt crisis has continued to deteriorate.

Trichet said at a news conference today: "we expect that the euro zone economy will grow moderately due to the high uncertainty and enhanced downside risks." The European Central Bank decided earlier today to maintain its benchmark interest rate unchanged at 1.5%, and also lowered its forecast for the euro area economic growth this year and next year.

UBS raised gold target price to $2075 in 2012.

According to foreign reports, UBS will raise the gold (1869.80,52.20,2.87%) forecast by 50% to 2075 US dollars per ounce next year. We believe that further macroeconomic data, European sovereign debt problems, the downturn of business and consumer and investor confidence will enhance gold demand, and gold will become a "defensive line" to resist the new market turmoil.

UBS has raised the price of gold this year from $1500 to $1665, because the fourth quarter is likely to be a price strengthening environment. UBS also raised its expectations in 2013 by 44% to 1725 US dollars from the previous 1200 US dollars.

New York gold futures closed up 2.2% at $1857.50.

New York gold futures prices closed up on Thursday, reversing the previous two consecutive days of decline, mainly because the European Central Bank lowered its economic growth forecast for the eurozone in the next two years, and the number of US unemployment benefits applications increased.

On the same day, gold futures on delivery of the New York Mercantile Exchange (NYMEX) commodity exchange (COMEX) rose $39.90 in December, or 2.2%, at $1857.50 an ounce.

New York crude futures closed down 0.3% at $89.05 a barrel.

New York crude oil futures closed down on Thursday because the chairman of the Federal Reserve, Ben Bernanke, did not reveal what specific measures the bank would take to boost the US economy in today's high-profile speech, which disappointed investors.

On the same day, the New York Mercantile Exchange (NYMEX) delivered light crude oil futures in October, down 29 cents, or 0.3% at 89.05 U.S. dollars a barrel.

The ECB lowered its economy and expected European stocks to rise.

European stock markets closed higher on Thursday, with intraday oscillation. The ECB lowered the expected growth rate in the euro area, which means the end of interest rate rises and the rise of banks and resource stocks. Pan European Dow Jones Stoxx 600 index rose 0.7%, closing at 230.47 points. The index rose 3% yesterday as investors worried about the debt crisis and the admission of bottom readers.

The French CAC 40 index rose 0.4%, closing at 3085.85 points. The German DAX 30 index rose 0.1%, closing at 5408.46 points. The FTSE 100 index rose 0.4%, closing at 5340.38. The Greek composite index fell 4.6%, closing at 886.77 points. (