CICC Macro: The US stock market needs to see more positive factors to continue rising, and the momentum in August may weaken

ChainCatcher news, according to Jinshi Data citing a report from招商宏观, Trump has nominated Stephen Moore to serve on the Federal Reserve Board and will nominate another board member soon, indicating a trend towards MAGA within the Federal Reserve, which opens the path for future rate cuts.

Recently, Federal Reserve officials have made noticeably dovish statements. If next week's July CPI year-on-year meets market expectations, the Federal Reserve is expected to give hints of a rate cut at the Jackson Hole global central bank meeting from August 21-23. However, the market has fully priced in a 25 basis point rate cut at the September FOMC meeting.

After Q2 earnings exceeded expectations, the U.S. stock market needs to see more positive news to continue its upward trend, and momentum may weaken in August.