Summary: Dow Rose 2.26%&Nbsp; NASDAQ Rose 3.32%

Beijing time on the morning of August 30th, Monday, the United States

At 16:00 p.m. Eastern time on August 29th (Beijing time August 30th 04:00), the Dow Jones industrial average rose 254.71 points to 11539.25 points, or 2.26%, and the Nasdaq composite index.

Jeffrey Saut, chief investment strategist at Raymond James & Associates, said that Bernanke did not mention QE3 at the annual meeting of the global central bank held last Friday, which is entirely correct. This action appeased market sentiment and led people to think, "OK, maybe we will not fall into recession."

Soot also pointed out that the factors that contributed to the rise of US stocks on Monday included hurricane Aileen's destruction that was not as serious as previously feared, and the two banks in Greece carried out a merger like "two drunks supporting each other".

"Despite the S & P 500,"

In the August 9th session, the S & P 500 index dropped to a recent low of 1101 points, reducing the risk premium of US stocks to the lowest level since 1970s.

"If the US economy does not fall into recession, and some stock earnings per share is expected to drop somewhat, it will not collapse," he said.

Hurricane Aileen attacked the east coast of the United States on Sunday, resulting in power cuts and flooding, causing billions of dollars in property losses.

But the intensity of the hurricane is less than expected, and has now been downgraded to a tropical storm.

In addition, the BAC's reduction of the shares of China Construction Bank (4.50, -0.06, -1.32%) also pushed the Dow up.

The market continued to interpret Bernanke's speech in August 26th.

Bernanke's speech did not promise that more measures would be taken to stimulate the weak U.S. economy to resume growth, and did not mention the third round of quantitative easing (QE3).

Bernanke's speech disappointed the market at the time of publication, but since then, market sentiment has turned to optimism.

Ruland Ruland strategist Bernanke Heino Ruland believes that it is precisely because of the fact that Bernanke has not promised to implement QE3 to stimulate the current stock market to climb.

Runand said that if the Federal Reserve promised to implement QE3, Chinese officials would feel even more nervous.

Earlier, commodity prices, especially food prices and inflationary pressures were blamed on the US quantitative easing policy.

Runand said, "this is because the mood of the market has become easier and stronger, but I do not think it is a reversal of the market trend."

Bernanke announced that the FOMC meeting in September will be extended from the original day to two days to discuss the economic situation and the available policy tools.

Some analysts believe that the market this time the United States Federal Reserve may decide at this meeting to take more stimulus measures expectations psychology, stimulating the stock market climbed.

Kathleen Brooks, London's Forex.com research director, said: "the fact remains the same: investors are still looking forward to more quantitative easing measures launched by the Federal Reserve in September." Catherine Kathleen

But the most important economic data this week is Friday's August non farm employment figures.

Economists surveyed by MarketWatch now expect an increase of 46 thousand in average, and the unemployment rate is expected to be 9.1%.

In terms of economic data, the US Department of Commerce announced that consumer spending rose by 0.8% in July and 0.3% in personal income.

The average personal expenditure of economists surveyed by Bloomberg increased by 0.5%, and personal income increased by 0.3%.

The association of real estate brokers (NAR) announced that the index of contracted sales of second-hand housing fell 1.3% in July.

According to a survey by Bloomberg, the average forecast of economists is 1% lower than the average.

In June, the secondary housing sales index increased by 2.4%.

European stock markets rose on Monday, and banking mergers and acquisitions pushed Athens's stock market up sharply.

Asian stock markets also climbed, while the Nikkei 225 index rose 0.61% to 8851.35.

Japan's finance minister, Noda Kahiko, won the election and will become the new Japanese Prime Minister.

New York Mercantile Exchange December gold futures fell 0.3% to 1791.6 dollars an ounce.

Crude oil futures rose 1.92 US dollars to 87.26 US dollars per barrel.

Us second-hand housing sales in July fell 1.3%, worse than expected

According to figures released on Monday by the NAR, the contract sales index for second-hand housing fell by 1.3% to 89.7 in July.

According to a survey by Bloomberg, the average forecast of economists is 1% lower than the average.

In June, the secondary housing sales index increased by 2.4%.

The secondary housing contract sales index, which can measure the recovery of the real estate industry in July, grew by 14.4% over the same period last year.

US consumer spending rose 5 month high in July.

The report on personal income and expenditure released by the US government in July shows that consumer spending has increased strongly in the past month, or a 5 month high. This is mainly due to the strong demand for cars by consumers.

Today's report further shows that although the US economy is weak, it has not slipped into recession.

According to the US Department of Commerce, consumer spending rose by 0.8% in July, the highest since February this year, compared with a 0.1% drop in consumer spending in June.

According to a survey by Thomson Reuters, economists expect consumption spending to increase by 0.5% in July.

Consumer spending is crucial to the US economy and accounts for about 70% of the total economy.

US $8 billion 300 million sold half of China Construction Bank

BAC announced on Monday that it would sell half its stake in China Construction Bank, which aims to strengthen its capital base.

After the sale, Bank of America will still hold about 5% of CCB.

Bank of America said it had agreed to sell some 13 billion 100 million shares of Construction Bank H shares to an investment consortium at a price of 8 billion 300 million US dollars.

The sale is expected to be completed by the end of next month and will bring us $3 billion 300 million after tax.

New York gold futures closed down 0.3% at $1791.60.

New York gold futures prices closed slightly lower on Monday, mainly due to the rise in the US stock market, thus weakening the partial attraction of gold futures to investors.

On the same day, the price of gold futures delivered in December by the NYMEX (NYMEX) under the commodity exchange (COMEX) fell $5.70 to $1791.60 per ounce, down 0.3%.

New York crude futures closed up 2.2% at $87.27 a barrel.

New York crude oil futures prices closed up on Monday, mainly due to the increase in US consumer spending, prompting the US stock market to strengthen.

On the same day, the New York Mercantile Exchange (NYMEX) delivery of light crude oil futures in October rose 1.90 U.S. dollars, at 87.27 U.S. dollars per barrel, or 2.2%.

European stocks soared and banks and energy stocks took the lead.

European stock markets climbed strongly on Monday and banks and energy sectors led.

Last week's speech by Federal Reserve Chairman Bernanke encouraged investors to buy high-risk assets. The merger between two Greek banks stimulated Greek banking stocks to surge.

Pan European Dow Jones Stoxx 600 index rose 1.2%, closing at 228.28 points.

The index rose 2% last week, ending a four week decline.

The French CAC 40 index rose 2.2%, closing at 3154.20 points.

The German DAX 30 index rose 2.4%, closing at 5670.07 points.

Greece composite index surged 14.4%.

Spain's IBEX 35 index rose 2.5%.