Overnight US stocks | Three major indexes are mixed, with Tesla, Inc. (TSLA.US) rising by 4.6%. Oil prices have plummeted, with Brent crude falling below the $70 mark.

On Tuesday, the three major indexes showed mixed movements, with the S&P 500 closing higher for the second consecutive trading day. The market is awaiting the heavyweight CPI data to be released on Wednesday. WTI crude oil fell by 4.3%, Brent crude fell by approximately 3.69%, to $69.19 per barrel, breaking below the psychological barrier of $70 for the first time since December 2021. [US Stocks] As of the time of publication, the Dow Jones fell by 92.63 points, or 0.23%, to 40736.96 points; the Nasdaq rose by 141.28 points, or 0.84%, to 17025.88 points; the S&P 500 rose by 24.47 points, or 0.45%, to 5495.52 points. Tesla, Inc. (TSLA.US) rose by 4.6%, NVIDIA Corporation (NVDA.US) rose by 1.5%, Apple Inc. (AAPL.US) fell by 0.3%, Alphabet Inc. Class C (GOOG.US) traded slightly lower. The Nasdaq China Golden Dragon Index inched up, with Alibaba Group Holding Limited Sponsored ADR (BABA.US) rising by nearly 3%, and Li Auto, Inc. Sponsored ADR Class A (LI.US) rising by almost 4%. [European Stocks] The German DAX 30 index fell by 174.97 points, or 0.95%, to 18256.35 points; the UK FTSE 100 index fell by 64.27 points, or 0.78%, to 8206.57 points; the French CAC 40 index fell by 17.71 points, or 0.24%, to 7407.55 points; the Euro Stoxx 50 index fell by 33.51 points, or 0.70%, to 4745.15 points; the Spanish IBEX 35 index fell by 73.36 points, or 0.65%, to 11199.44 points; the Italian FTSE MIB index fell by 379.34 points, or 1.13%, to 33211.00 points. [Asia-Pacific Stocks] The Nikkei 225 index fell by 0.16%, the Indonesian Jakarta Composite Index rose by 0.76%, and the Vietnamese VN30 index fell by 1%. [Gold] COMEX gold futures rose by 0.52% to $2545.90 per ounce; COMEX silver futures rose by 0.14% to $28.730 per ounce. [Cryptocurrencies] Bitcoin rose by 0.82% to $57531.07, while Ethereum rose by 0.71% to $2377.29. [Crude Oil] WTI October crude oil futures fell by $2.96, or nearly 4.31%, to $65.75 per barrel; Brent November crude oil futures fell by $2.65, or about 3.69%, to $69.19 per barrel. [Metals] London metals were down, with nickel falling by 0.93%, zinc falling by 0.77%, aluminum falling by 0.36%, and copper falling by 0.79%. [Macro News] Reuters survey: Most economists expect the Fed to cut interest rates by 25 basis points in September and make two more cuts this year. According to a Reuters survey, most interviewed economists believe that the Fed will cut interest rates by 25 basis points at each of the three remaining policy meetings in 2024. Only nine of the 101 economists surveyed expect the Fed to cut rates by 50 basis points next week. Stephen Stanley, Chief U.S. Economist at Banco Santander S.A. Sponsored ADR, stated, "Although the employment report was soft, it was not catastrophic. Neither Williams nor Waller provided clear guidance on whether the Fed will cut rates by 25 or 50 basis points on September 18th last Friday, but they both made relatively benign assessments of the economy, which, in my view, points strongly to a 25 basis point cut." 65 of the 95 surveyed economists believe that after next week's meeting, the Fed will cut rates twice more this year in November and December, each time by 25 basis points. Last month, 55 of the 101 surveyed economists held the same view. Real U.S. household income grew for the first time in four years benefiting from cooling inflation. As price increases slowed, real median household income in the U.S. rose by 4% last year, marking the first annual increase since 2019. According to the annual report on income, poverty, and health insurance coverage from the U.S. Census Bureau, the median real household income in 2023 was $80,610, higher than the $77,540 in 2022. This data highlights the impact of cooling inflation in 2023, even though many Americans feel the economy is in a recession due to prices for groceries, housing, and car insurance being significantly higher than pre-pandemic levels. Despite the growth last year, the median household income in the U.S. is still $600 lower than in 2019. Bank of America Corp. clients net bought $2.4 billion of stocks during the market downturn last week. Bank of America Corp. quantitative strategists, including Jill Carey Hall, stated in a research report on Tuesday that as the S&P 500 index experienced its worst week since March 2023, the bank's clients net purchased $2.4 billion worth of U.S. stocks last week. Retail and hedge fund clients became net buyers last week after selling stocks in the previous two and four weeks, respectively, while institutional clients were net sellers for the third consecutive week. Individual stocks recorded the largest inflow in nine weeks, while ETFs saw outflows for the second consecutive week. Goldman Sachs Group, Inc.: Global central banks beginning interest rate cuts favor the U.S. dollar. Analysts from Goldman Sachs Group, Inc. state that the impending interest rate cuts by the Fed pose limited downside risks to the U.S. dollar, as other central banks are also loosening policies. Foreign exchange analyst Isabella Rosenberg from the bank stated, "If most central banks ease their monetary policies simultaneously, we can expect this to limit the impact of the Fed's monetary policy easing on the dollar."When the Federal Reserve is not synchronized with other major central banks, it usually leads to the weakening or stabilization of the US dollar. However, in the current situation, US interest rates remain relatively high, while the exchange rates of other countries are falling, which to some extent weakens the motivation to sell the dollar and buy assets elsewhere. Given the US dollar's status as a safe-haven currency, this global coordinated rate cut may also signal concerns about economic growth, thereby boosting the dollar.NiccolNiccolKevin Johnson102017NiccolTaco Bell NiccolInvest in technology, enhance the company's supply chain, and upgrade the mobile ordering platform. Niccol vows to reposition the company as a "coffee shop where people gather, offering the best coffee handcrafted by our skilled baristas," he said.Southwest Airlines Co. (LUV.US) announced a board restructuring with Chairman Gary Kelly set to retire next year. The American Southwest Airlines Co. company announced board changes on Tuesday, including Chairman Gary Kelly retiring, however amidst calls for restructuring from activist investor Elliott Investment Management, the company reiterated its support for CEO Bob Jordan. The airline company stated that the Chairman will voluntarily retire after the annual meeting next year, and six directors will also voluntarily resign after the November board meeting. Southwest Airlines Co. plans to appoint four new independent directors in the near future, including potentially up to three candidates proposed by Elliott. In a letter to shareholders, Kelly stated that the company shared a specific framework with Elliott on Monday to address their concerns with corporate governance and performance, and will continue to engage constructively with Elliott to achieve a collaborative solution in the short term. [Rating from a major bank] Wells Fargo & Company: Ford (F.US) and General Motors Company (GM.US) target prices lowered by $1 each to $9 and $33, respectively.