BlockBeats News, September 16, Tuesday morning, the US stock market maintained its upward trend, testing a new round of historical highs. Traders are already prepared for the Federal Reserve to restart its rate-cutting cycle. In terms of individual stocks, Oracle’s stock price surged significantly. Although Tesla is facing an investigation by the US auto safety regulator (investigating whether some models have defects in their doors), its stock price still rose.
Economic data shows that US retail sales in August increased for the third consecutive month, with a wide-ranging increase, highlighting the resilience of consumer spending. The latest survey by Bank of America shows that the net percentage of global fund managers “overweighting stocks” is 28%, reaching the highest level in seven months.
Michael Hartnett, Chief Investment Strategist at the bank, pointed out that market expectations for economic growth have seen the most significant improvement in nearly a year, with only 16% of investors (net percentage) currently expecting a weakening economy. (Jinshi)
