BlockBeats News, August 29th: This week, the global market saw a mix of long and short positions. Federal Reserve Chair Powell delivered a hawkish signal at the Jackson Hole symposium, stating that the potential trend of U.S. inflation has not yet shown "meaningful improvement." If underlying inflation does not fall back to 2% quickly enough, the Fed still has work to do. Following the speech, market expectations for a September rate hike significantly increased. The U.S. dollar index rose by 0.85% this week, gold plummeted over 3% in a single day, with a total weekly decline of 3.24%, and silver fell by 3.82% for the week.

On the geopolitical front, the prospects of U.S.-Iran negotiations fluctuate. The U.S. initiated an "economic orphan action" against Iran and expanded the scope of sanctions. Iran, on the other hand, engaged in coordination with Oman to reopen the Strait of Hormuz, planning to establish a temporary navigation channel and conduct joint mine clearance. However, the full opening of the strait still depends on Iran's conditions, including the U.S. lifting blockades and sanctions, unfreezing Iranian funds, and ceasing Israeli hostile actions in Lebanon. Meanwhile, Trump announced that the U.S. has acquired a "controlling interest" in over 65 billion barrels of oil reserves in Venezuela. The oil market traded on expectations of Middle East supply recovery, leading to a significant price weakening this week.

AI trading surged again this week. NVIDIA released a strong earnings report, with a second-quarter revenue of $96.2 billion, a 106% year-on-year increase, and data center revenue of $89 billion, a 117% year-on-year growth. The company expects third-quarter revenue to reach $108 billion. The earnings report boosted NVIDIA's stock price by 8.7% in a single day, increasing the market value by about $442 billion, approximately 3 trillion RMB. OpenAI revealed the progress of its self-developed Jalapeño inference chip testing and plans to deploy it by the end of 2026, while continuing to increase investment in AI infrastructure.

On the macro policy front, the U.S. Treasury expanded its long-term Treasury repurchase plan, sparking discussions in the market about "fiscal dominance" and the Fed's independence. According to reports, Japan has cumulatively intervened in the forex market with 15.4 trillion yen, setting a monthly historical record. Domestically, multiple departments simultaneously rolled out real estate policies, extending the maximum term of individual housing loans from 30 years to 40 years. Policies supporting the development of real estate in the capital market also came into effect simultaneously.

Market focus also included Alibaba's placement of approximately 80 billion HKD for AI infrastructure and model research, with senior management continuously increasing their holdings of company stock. Apple released a new Mac product featuring the first 2-nanometer M6 chip and is scheduled to hold a fall event on September 9th, where the first foldable iPhone is expected to be unveiled.