Key Events for the Upcoming Week
August non-farm payrolls data is set to be released; will expectations for a Federal Reserve rate hike reignite?
In the coming week, market attention will shift back to the U.S. labor market. The U.S. August Non-Farm Payrolls report, scheduled for release at 20:30 on Friday, September 4, will serve as a key benchmark for assessing the Federal Reserve's next policy moves.
According to a Reuters survey conducted through Friday, the market expects that in Augustnonfarm payrollsnon-farm payrolls will increase by 58,000, with the unemployment rate expected to hold steady at 4.1%. The July report showed an unexpected weakening in the labor market, with employment falling by 23,000, which already triggered widespread investor concerns about the pace of economic cooling. This report will provide two key insights: first, how resilient the U.S. job market currently is, and second, whether high inflation is further feeding into wage levels. Investors are using this data to assess whether the Federal Reserve might raise interest rates as early as September.
G20 Finance and Technology Meetings Set Tone for Global Monetary Policy and New AI Regulations
Next week, the United States will host two key G20 ministerial meetings simultaneously, serving as a预热 (prelude) to the year-end G20 Leaders' Summit. Running in parallel, these two meetings will address macro-financial and technological industry dimensions respectively, setting the tone for subsequent global economic policies and AI regulatory trends.
The G20 Meeting of Finance Ministers and Central Bank Governors, scheduled from August 31 to September 1, will focus on global inflation, macroeconomic policy coordination, exchange rate volatility, debt risks, and financial stability. The wording of its communique will directly influence the trajectory of the U.S. dollar, U.S. Treasuries, and major global asset classes.
From September 1 to September 2, the G20 Science and Technology Ministers’ Meeting was held concurrently, bringing together global science and technology officials alongside leading figures in the tech industry such as Elon Musk, Jensen Huang, and Sam Altman. The meeting focused on implementing the U.S. AI "Carolina Principles" and deliberating on global AI governance, technological innovation, and digital economy rules.
Tesla officially announces Cybercab launch event on September 3
On August 22, Tesla announced on the X platform that it will hold a Cybercab launch event in Austin on September 3 local time. Reportedly, the Cybercab completely eliminates the steering wheel, brake pedals, and rearview mirrors, features a two-seat layout, and relies entirely on Tesla's FSD (Full Self-Driving) system for operation.
Industry forecasts suggest that Tesla may officially announce the inclusion of the Cybercab in its Robotaxi fleet during this event. Since June this year, the Cybercab has been undergoing public road testing in various U.S. locations, including Austin. Currently, Tesla's Robotaxi business covers seven regions, with unsupervised operations in two states and six cities. Cumulative unsupervised driving distance has exceeded 380,000 miles, while cumulative paid mileage approaches 2.5 million miles.
Q2 Earnings Season Draws to a Close! Broadcom, Zhipu AI, Nio, and Dell Technologies Take Center Stage
As the Q2 earnings season for US stocks draws to a close, $Broadcom (AVGO.US)$ earnings results released after the market close on Wednesday will also become a focal point for investors. As a core provider of custom AI chips and network interconnects, its AI revenue guidance will drive pricing across the global computing power supply chain. $Dell Technologies (DELL.US)$ 、 $Hewlett Packard Enterprise (HPE.US)$ 、 $Snowflake (SNOW.US)$ Intensive disclosures from AI hardware and data cloud vendors will collectively test the implementation of AI capital expenditures.
Additionally, $Z.AI (02513.HK)$ The first interim report since its listing will validate the commercial viability of its large language models. Beyond conventional metrics such as revenue and net profit, the market will closely scrutinize Zhipu's Annual Recurring Revenue (ARR) figures and management guidance to assess whether its narrative of "rising API volume and prices" can be sustainably realized.
Powell's remarks at Jackson Hole were lackluster; Waller's September comments may hold greater trading value.
On Thursday, September 3, at 20:30, Federal Reserve Governor Waller will deliver a speech on the inflation outlook. Analysts believe this could be the most significant official commentary ahead of the September FOMC meeting, potentially surpassing the importance of Chair Powell's statements at Jackson Hole. The market will use his remarks to calibrate expectations for the September interest rate path.
Since taking the helm at the Federal Reserve, Powell has deliberately maintained ambiguous wording, leaving the interpretation of policy signals more to the market and data rather than actively guiding expectations through forward guidance. This style has caused persistent confusion in the bond market. Bloomberg analysis points out that Waller's scheduled speech on September 3 is likely to provide more actionable clues for the market. With only two days remaining before the start of the blackout period preceding the September 15–16 FOMC meeting, the market weight of his remarks will increase significantly.
Fast-fashion giant Shein lists in Hong Kong, officially debuting on the Hong Kong Stock Exchange on September 1.
Fast-fashion giant Shein $SHEIN-W (00625.HK)$ Previously announced that it would conduct its IPO from August 24 to August 27. The company plans to offer approximately 280 million shares globally and expects to list on September 1.
Shein is a global online fashion and lifestyle company that served approximately 273 million active customers across around 160 markets in 2025. By offering a diverse, highly inclusive, frequently updated, and cost-effective product range, the company has met consumers' diversified needs and reshaped the way they pursue fashion.
Key earnings calendar for the new week
[Related Reading][Prize] Earnings season draws to a close! Broadcom, Zhipu AI, Nio, and Dell Technologies take center stage—A weekly earnings roundup (Aug 31–Sep 4)
Monday (August 31)
Keywords: Zhipu AI earnings; Shein grey market trading; China's August official manufacturing PMI
On the economic data front, China's official manufacturing PMI for August and the U.S. Dallas Fed Business Activity Index for August are scheduled for release.
09:30 China's August official manufacturing PMI
22:30 U.S. August Dallas Fed Business Activity Index to be released
In terms of earnings reports, Hong Kong stocks $Z.AI (02513.HK)$ 、 $BLACK SESAME (02533.HK)$ 、 $MININGLAMP-W (02718.HK)$ 、 $HORIZONROBOT-W (09660.HK)$ The latest earnings results will be released.
In the new stock segment, fast-fashion giant $SHEIN-W (00625.HK)$ 、 $MECH-MIND ROBOT (09615.HK)$ will commence grey market trading after hours.
Tuesday (September 1)
Keywords: Dell and Nio earnings; Shein listing
Regarding economic data, China's August RatingDog Manufacturing PMI, the final S&P Global US Manufacturing PMI for August, and the US ISM Manufacturing PMI for August will be released.
09:45 China August RatingDog Manufacturing PMI
21:45 Final S&P Global US Manufacturing PMI for August
22:00 US ISM Manufacturing PMI for August
Regarding earnings reports, $Medtronic (MDT.US)$ 、 $NIO Inc (NIO.US)$ will release its latest results before the U.S. market opens, $Credo Technology (CRDO.US)$ 、 $Dell Technologies (DELL.US)$ 、 $MongoDB (MDB.US)$ 、 $Palo Alto Networks (PANW.US)$ Released earnings report after U.S. market close.
Regarding new listings, $SHEIN-W (00625.HK)$ 、 $MECH-MIND ROBOT (09615.HK)$Officially listed on the Hong Kong stock exchange.
Wednesday, September 2
Keywords: Broadcom, Hewlett Packard Enterprise earnings
On the economic data front, the U.S. EIA crude oil inventories and U.S. EIA Strategic Petroleum Reserve inventories for the week ending July 24 will be released.
22:30 U.S. EIA crude oil inventories for the week ending July 24 (in 10,000 barrels)
22:30 U.S. EIA Strategic Petroleum Reserve inventories for the week ending July 24 (in 10,000 barrels)
Regarding earnings reports, $FuelCell Energy (FCEL.US)$ Released earnings report before U.S. market open, $Broadcom (AVGO.US)$、 $Hewlett Packard Enterprise (HPE.US)$、 $Snowflake (SNOW.US)$ 、 $NetApp (NTAP.US)$ Released earnings report after U.S. market close.
Thursday (September 3)
Key Highlights: Federal Reserve Beige Book; Interview with Fed Governor Waller; Tesla Cybercab Launch Event
In terms of economic data, China's August Caixin Services PMI, U.S. initial jobless claims for the week ending August 29 (in thousands), U.S. August S&P Global Services PMI, and the final U.S. August ISM Non-Manufacturing PMI will be released.
09:45 China's August Caixin Services PMI
20:30 U.S. initial jobless claims for the week ending August 29 (in thousands)
21:45 Final U.S. August S&P Global Services PMI
22:00 U.S. August ISM Non-Manufacturing PMI
Regarding major events, the Federal Reserve will release its Beige Book on economic conditions at 02:00 Beijing Time. At 20:30, Federal Reserve Governor Waller will give an interview. Additionally, Tesla will hold its Cybercab launch event in Austin, Texas, on September 3 local time.
Regarding earnings reports, $Ciena (CIEN.US)$ Released earnings report before U.S. market open, $DocuSign (DOCU.US)$ 、 $Lululemon Athletica (LULU.US)$ 、 $Planet Labs PBC (PL.US)$ 、 $Zscaler (ZS.US)$ Released earnings report after U.S. market close.
Friday, September 4
Key Focus: August Non-Farm Payrolls
Regarding economic data, the U.S. seasonally adjusted non-farm payrolls for August (in ten thousands), the U.S. unemployment rate for August, and the U.S. Global Supply Chain Pressure Index for August will be released.
20:30 U.S. Seasonally Adjusted Non-Farm Payrolls for August (in ten thousands)
20:30 U.S. Unemployment Rate for August
22:00 U.S. Global Supply Chain Pressure Index for August
In terms of major events, at 03:00 Beijing time, Beth Hammack, President of the Federal Reserve Bank of Cleveland and an FOMC voter for 2026, will deliver the opening remarks at the "Fed Community" event.
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