ChainCatcher message, according to Jinshi reports, Citic Securities research report pointed out that after the release of the US July CPI on August 12, there was a style switch in the US stock market, and the market recalled the 'rate cut trade' after the release of the June CPI in 2024. However, on August 14, the US July PPI exceeded expectations, impacting the 'rate cut trade.' If Powell adopts a dovish stance at next Friday's Jackson Hole global central bank annual meeting and 'officially announces' a rate cut in September, the main line of the 'rate cut trade' in the US stock market may be clarified again.