日常议程:强硬的语气从美联储尽管震颤s Abroad

The August U.S. Labor Department employment report — the final job data release ahead of the September Federal Open Market Committee meeting — will be released on Friday. Consensus economist forecasts are targeting a 220,000 rise in payroll numbers and stronger average earnings compared to July. Yet many investors have questioned whetherFed policymakers may refrain from a rate hike until December or beyondin response to recent international turmoil. To date, messaging from policymakers themselves has remained fairly hawkish on balance. In a presentation at the Jackson Hole symposium,Federal Reserve vice chair Stanley Fischerstated that the recent deflationary pressure driven by lower oil costs was unlikely to persist and indicated that any tightening will be gradual in nature.

Scapegoat hunt continues in中国.After deploying more than $200 billion in capital to arrest the decline of equity markets since early July, media reports today surfaced that Beijing has decided to halt further market intervention. While such action may be off the table, however, regulators are continuing to focus on punishing sellers as the China Securities Regulatory Commission expands probes into brokerages on the mainland and Hong Kong. China’s official Xinhua News Agency announced that more than 200 people, including a financial reporter, had recently been punished for spreading false rumors.

BNY定价问题可能在市场开放中未得到解决。纽约银行Mellon Corp.今天宣布，尽管周末花在试图解决这些问题的情况下，但是，仍然可能会影响市场仍然会影响市场的共同基金和ETF的定价问题。净资产价值计算超过1,200个证券的一周，今天宣布的银行管理人员今天宣布，今天将通过上午周四的市场收盘将提供。

Chinese bank reports downbeat earnings.Over the weekend中国Construction Bank Corp.reported lackluster results for the three-month period ending on June 30. China’s second-largest bank reported net income of $10 billion, unchanged from the same period in 2014. Construction Bank also raised its nonperforming loan ratio for the eight consecutive quarter to 1.42 percent.

欧洲的通货膨胀仍然静音。Eurostat price data for the euro zone indicated that headline consumer prices rose by an annualized 0.2 percent during August. Core prices, excluding volatile components, rose by 1 percent year-over-year as deflationary pressures persist despite European Central Bank easing measures.

Accounting issues force Toshiba to delay filing again.Toshiba Corp.today announced a delay to filing fiscal-2014 results until September 7 as it continues to grapple with accounting issues. This is the second delay for the figures, which were due into Japanese regulators in May after writedowns of more than $1 billion led to the resignation of the firm’s CEO.

India's GDP falls short.GDP data for the fiscal first quarter released today by the Ministry of Statistics revealed that India's economy grew by a slower pace than anticipated. Weighted down by slowdowns in manufacturing and agriculture, headline GDP registered at 7 percent versus an anticipated 7.5 percent.

Portfolio Perspective: Is the Worst Over for Equities?

在过去的七个交易日的地震休克中，仍有可能有几个涟漪。然而，许多逆势指标，如芝加哥董事会期权交换推出比率，Aaii看跌情绪阅读和新的低点的股票数量表明，目前最糟糕的是溃败。

Interestingly, the volatility this past week came at a time when U.S. macro data improved and there were increasingly more segments of the U.S. economy that were strengthening. This bodes well for sales revisions, excluding energy. For example, orders for U.S. capital goods rose in July by the most in a year, while U.S. second-quarter GDP growth was revised sharply higher to 3.7 percent versus a prior estimate of 2.3 percent. The latter was helped by better consumer spending, increased residential and nonresidential activity and higher company investment. Gasoline prices continue to drop.

This are all signs that U.S. domestic stocks will once again see an upswing.

Sean Darby是首席全球股权战略家Jefferiesin Hong Kong.