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China Tech Buzz

Global News Impacting Chinese Tech

Dow Jones, US Dollar, Gold, Bitcoin, Oil, Inflation, China, Jackson Hole, Fed

News Snapshot:

US stock indexes turned lower last week, with losses accelerating into the weekend as the US Dollar surged. Federal Reserve rate hike bets firmed up a bit after hawkish rhetoric from James Bullard and Esther George, two FOMC voters. The Dow Jones Industrial Average fell 0.86% on Friday, trimming earlier gains and ending the week negative. The high-beta Nasdaq-100 Index (NDX) broke its four-week winning streak, closing 2.38% lower. Traders will receive an inflation update for July via the US PCE price index. Analysts expect a 4.7% annual increase for core prices, the Fed’s preferred metric. That would be down…

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