Original title: Up! Up! Up! The price of gold has gone up again!
The economic data released by the United States last week, including employment data, supported the expectation of the Federal Reserve to cut interest rates, and investor sentiment was boosted. Driven by the majority of large technology stocks, the three major stock indexes rose last week. The Dow rose 2.16%, the fourth consecutive week of gains. The Nasdaq Composite Index rose 1.14%, and the S&P 500 Index rose 1.85%. Both indexes rose for three consecutive weeks.
International oil price fluctuated slightly last week International gold price rose 2.88%
In terms of bulk commodities, international oil prices did not fluctuate as a whole last week, with the main contract price of crude oil futures in New York rising 0.19% accumulatively; The main contract price of oil distribution futures fell 0.20% accumulatively. In addition, due to the strengthening of the expectation of the Federal Reserve to cut interest rates, the gold price was boosted. Last week, the international gold price rose 2.88%, the largest weekly increase in nearly five weeks.
The US will release CPI data for April this week. The market expects inflation to cool down
On this Wednesday, the U.S. Department of Labor will release the consumer price index, or CPI data, for April. At present, the market expects that the year-on-year growth rate of the U.S. CPI in April will slow to 3.4%, and the month on month growth rate will remain at 0.4%. The year-on-year growth rate of core CPI will slow to 3.6%, the smallest growth rate in three years. If the inflation data can cool down as expected by the market, it will greatly increase the expectation of the Federal Reserve to cut interest rates.
This week OpenAI and Google will successively release new functions to "ignite" the AI competition
For the company, OpenAI, a technology giant in the field of artificial intelligence in the United States, predicted that there would be a "big move" this week - the company will live demonstrate the updated versions of ChatGPT and GPT-4 on its official website at 10:00 a.m. on Monday, US time. However, OpenAI also said that it would not release GPT-5 or search engine products at that time. That is to say, once again, OpenAI did not launch its AI based search products as expected by the market.
In addition to OpenAI, Google, another technology giant, will hold the 2024 annual developer conference on Tuesday, US time. It is expected that Google will announce the latest plan of its Gemini AI model and display a series of AI related products. (CCTV reporter: Zhang Manman)
