Powell emphasized the importance of the labor market, and St. Louis Fed voting member Musser also stated that they would rely on the September non-farm payrolls and unemployment rate to determine the interest rate direction, creating a subtle game between rate cuts and recession expectations. If rate cuts are seen as favourable information, the market may restart its pump; if concerns about recession prevail, it may trigger further falls.
From the data perspective, a decrease in turnover rate over the weekend is normal, and short-term investors are trading relatively balanced, 112,000.
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