*Non-farm payrolls increased by 528,000 in July, and the U.S. job market returned to pre-COVID-19 levels. Overnight, the "hot" July non-farm payrolls report triggered investors' concerns that the Federal Reserve may continue to raise interest rates significantly. The three major

*Non-farm payrolls increased by 528,000 in July, and the U.S. job market returned to pre-COVID-19 levels

* Wall Street bets The Federal Reserve continues to take radical interest rate hikes

* The inversion in long- and short-term U.S. bond yields intensified

Overnight, the "hot" July non-farm payrolls report triggered investors' concerns that the Federal Reserve may continue to take significant interest rate hikes. U.S. stocks The three major stock indexes were mixed. technology stocks led the decline, while the energy and banking sectors rose.

As of the close, the Dow Jones Industrial Average rose 76.65 points, or 0.23%, to close at 32803.47 points; the S&P 500 index fell 6.75 points, or 0.16%, to close at 4145.19 points; the Nasdaq Composite Index fell 63.02 points points, down 0.50%, to close at 12657.56 points.

JPMorgan Chase rose 3%, Bank of America rose 1.68%, Wells Fargo rose 2.3%, Exxon Mobil rose 1.45%, Chevron rose 1.65%. Amazon fell 1.24%, Netflix fell 1.36%, Tesla fell 6.6%.

In terms of Chinese concept stocks , Alibaba fell by 5%, Weilai Automobile fell by 3.25%, Xpeng Motors fell by 3.15%, Jingdong fell by 2.27%, Li Auto fell by 2.01%, daily Youxian rose 5.67%.

Despite this, the S&P 500 Index and the Nasdaq Composite Index still increased by 0.4% and 2.2% this week, rising for the third consecutive week, while the Dow Jones Industrial Average achieved two consecutive weeks of gains.

7html Nonfarm payrolls jumped by 70,000 in July 52.80,000

Data released by the U.S. Bureau of Labor Statistics on the 55th showed that the number of new jobs in the U.S. non-agricultural sector jumped by 528,000 in July this year, twice the market expectation of 258,000, and the previous four The monthly average is 388,000. That month, the U.S. unemployment rate dropped slightly by 0.1 percentage points to 3.5%, and the average hourly wage of employees increased by 5.2% year-on-year, higher than market expectations of 4.9%. So far, the total non-farm employment population and unemployment rate in the United States have returned to the pre-pandemic levels in February 2020. Data from

shows that industries such as healthcare, leisure and entertainment lead the job market as consumer spending shifts from goods to service products represented by travel. Last month, the leisure and hospitality industry added 96,000 jobs, professional and business services added 89,000 jobs, and health care added 70,000 jobs.

B. Art Hogan, chief market strategist at Riley, said that this report makes all expectations that "the Federal Reserve will shift policy and start cutting interest rates next year" impossible. The U.S. economy is obviously not in recession.

The Fed will switch to dove next year " comes to nothing " ?

Bank of America economists described the hot non-farm payrolls as "a double-edged sword": on the one hand, it shows that the risk of a recent U.S. economic recession is reduced; on the other hand, the strong employment data means that the Federal Reserve still has more There is work to be done, and the risk of an economic hard landing increases over time.

The bank raised its forecast for the federal funds rate range at the end of this year by 25 basis points to 3.50%-3.75%, predicting that the Federal Reserve will raise interest rates by 50, 50 and 25 basis points respectively at the remaining three monetary policy meetings during the year.

In fact, investors are already betting that the Fed will take a tougher tightening stance. The Chicago Mercantile Exchange's Fed Watch Tool shows traders predict the probability of the Fed announcing a 75 basis point rate hike at its next meeting has climbed to 70.5%.

The next Federal Reserve monetary policy meeting will be held on September 20-21. Before then, policymakers will get another non-farm payrolls report and two CPI numbers.

Previously, due to hopes that the Federal Reserve might slow down the pace of interest rate hikes, the major stock indexes achieved their best monthly performance since 2020 in July, with the S&P 500 index rising by more than 9.1% last month.

More aggressive interest rate hike expectations pushed U.S. bond yields higher, with the 10-year U.S. bond yield at 2.83% and the 30-year U.S. bond yield rising to 3.068%. At the same time, the 2-year U.S. Treasury yield was at 3.242%.

Wall Street's usual "recession warning" indicator, that is, the spread between 2-year and 10-year U.S. Treasury yields once soared to about 40 basis points, the highest level since 2000.

U.S. oil fell nearly 10% this week.

stocks . In terms of stocks, the share price of theater chain AMC Entertainment soared 19%. The company announced that its revenue in the latest quarter increased fivefold and it will issue special dividends in the form of preferred shares.

Virgin Galactic shares tumbled 17% to $6.76 after the company delayed its first launch of tourists into space.

Warner Bros. Discovery's stock price plummeted 17%, and the first financial report of the merged company showed a loss of US$3.42 billion.

In the commodity market, the price of WTI crude oil futures for September delivery rose 0.5% to close at US$89.01 per barrel, a cumulative decline of 9.7% this week. The international benchmark Brent crude oil closed at US$94.92 per barrel, a cumulative decline of 13.72% this week.

In terms of European stock markets, the pan-European Stoxx 600 index fell 0.8% on Friday, a weekly decline of 0.6%.