CITIC Securities: The "rate cut trade" in the US stock market is hesitant, waiting for Powell's speech

ChainCatcher news, according to Jinshi reports, Citic Securities research pointed out that after the release of the U.S. July CPI on August 12, a style switch occurred in the U.S. stock market, and the market recalled the "rate cut trade" after the release of the CPI in June 2024. However, the U.S. July PPI on August 14 significantly exceeded expectations, impacting the "rate cut trade." If Powell adopts a dovish stance and "officially announces" a rate cut in September at the Jackson Hole Global Central Bank Annual Meeting next Friday, the main line of the U.S. stock market's "rate cut trade" may be clarified again.