美股週報(8.8) | 流動性修復行情繼續，Uber業績超預期周漲36%；美國7月非農新增52.8萬大超預期，交易員押注9月75基點概率上升；市場聚焦本週三CPI數據
上週美股科技成長股延續漲勢。標普周漲0.4%，納指漲2.1%，道指跌0.1%。由於估值普遍見底，宏觀上温和衰退邏輯走穩，科技股延續流動性修復行情。美國十年國債收益率反彈18個基點，收報2.83%，與兩年期國債收益率息差-40個基點，仍深度倒掛。恐慌指數VIX本週跌0.84%。油價期貨跌勢難止，WTI原油本週大跌10%，收報88.46。現貨黃金延續反彈，本週收漲0.5%，報1775.8美元/盎司。美元指數本週反彈，收漲0.68%，報106.55。
美國7月ISM非製造業PMI錄得56.7，顯著超過預期的53.5，前值55.3。機構分析指出，美國服務業7月意外回升，主要由於訂單增長強勁，同時供應瓶頸和物價壓力緩解。整體經濟增長勢頭有所降温，但服務業活動正受到從商品支出轉向服務支出的支持。
美國7月失業率錄得3.5%，優於預期的3.6%，就業參與率62.1%，與預期的62.2%相近。非農就業人口52.8萬人，大超預期的25萬人，前值37.2萬人。7月平均每小時工資年率錄得5.2%，顯著超過預期的4.90%，前值5.10%。非農數據公佈後，美聯儲9月加息75個基點概率大漲。據CME“美聯儲觀察”：美聯儲到9月份加息50個基點的概率為38.5%，加息75個基點的概率為61.5%。
機構分析稱，美國7月非農就業報吿好於預期，顯示就業市場強勁，這可能意味着美聯儲將進一步加息。對美聯儲來説，另一個壞消息是勞動力參與率下降。上個月，就業市場上正在工作或正在找工作的人數有所下降。美聯儲真正想要的是看到人們重新湧入勞動力市場、推高失業率，和工資壓力緩解。但相反，我們看到的是，人們離開了就業市場，僱主們用更高的工資來吸引那些留下來的人。火熱的勞動力市場通常意味着高通脹。
總的來説，這份數據大幅減緩了對衰退的擔憂，但同時因為工資仍在加速增長，市場開始擔憂工資物價出現螺旋，即可能重現70年代的滯漲情形。
行業板塊方面，標普11大板塊收漲居多。高科技板塊漲幅居前，收漲1.9%，通信板塊漲1.3%。可選消費漲0.9%，工業板塊漲0.5%，公用事業板塊漲0.4%，必選消費板塊漲0.2%。能源板塊大跌6.8%，原材料板塊收跌1.3%，醫療板塊跌0.72%。
本週重點數據與事件：
週一歐元區公佈8月投資者信心指數。
週三美國公佈7月CPI數據。
週四美國公佈7月PPI數據；美聯儲票委卡什卡利就通脹發表講話。
週五法國公佈7月CPI數據；美國公佈8月密歇根大學消費者信心指數初值。
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