受此影响，ServiceNow股价周二早盘一度下跌3%，或将创下4月21日以来收盘新低。该股周一收盘上涨约0.9%，公司市值约为1630亿美元。 美国企业云计算和服务管理解决方案提供商ServiceNow周二宣布，将以77.5亿美元现金收购网络安全初创公司Armis，这是ServiceNow迄今为止规模最大的 一笔收购。 该公司表示，此次收购将使其在安全与风险解决方案领域的市场机会扩大至原来的三倍，并进一步巩固其在AI技术安全市场中的地位。 "随着AI的快速采用不断扩大企业的攻击面，能够实时掌握漏洞情况，并获得关于优先修复哪些问题的可执行洞察，对于降低风险、强化整体安全态势至关 重要。" ServiceNow总裁、首席运营官兼首席产品官Amit Zavery在周二的声明中表示： "ServiceNow正在打造未来的安全平台。" "在智能体AI时代，如果企业希望长期、大规模地部署AI，那么必须建立覆盖任何云环境、任何资产、任何AI系统以及任何设备的智能信任与治理体系，这 一点不可妥协。" ServiceNow在声明中表示，预计将通过自有现金和债务相结合的方式为这笔交易提供资金。声明称，这笔交易预计将在2026年 ...

住房城乡建设部23日表示，2026年，要推进现代化人民城市建设、着力稳定房地产市场、加快建筑业提 质升级、夯实高质量发展基础支撑。 具体到房地产市场而言，将因城施策控增量、去库存、优供给， 进一步发挥房地产项目"白名单"制度作用，加快构建房地产发展新模式，深化住房公积金制度改革，实 施物业服务质量提升行动。（央视） 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 ...

来自Citadel的Scott Rubner补充认为，市场在进入2026年时拥有稳固的宏观基础。创纪录的家庭财富、不断扩大的股权持有比例以及充裕的现金余 额，共同为市场提供了结构性支撑，使得零售投资者的参与度在更高水平上得以维持。 贵金属迎来历史性牛市 与此同时，美股市场呈现出明显的结构性分化。Pasquariello强调，当前股市的定价隐含了对经济周期性加速的预期，但这尚未在宏观经济数据中 得到普遍验证。与之形成鲜明对比的是，债券市场所反映的经济叙事则更为谨慎，股债两大市场的信号分歧已达到近年来的罕见水平。 他指出，美股市场内部六个月实现相关性持续下降，显示出极高的分散度，预计这种低相关性、高分散度的特征将在下一阶段得以延续。 2025年无疑是贵金属与工业金属市场的里程碑年份。黄金价格全年飙升68%，创下1979年以来的最佳年度表现。高盛的Tony Pasquariello分析认 为，这背后可能交织着多重叙事：既可能是对全球财政主导格局的定价，或反映了市场对法定货币体系日益增长的担忧，也可能仅是源于央行需 求的空前强劲。 高盛资深交易员Tony Pasquariello在年终回顾中指出，2025年全球大宗商 ...

消费者信心指数已连续第五个月下滑，追平2008年金融危机以来的最长连跌纪录，持续反映出家庭对高 物价、就业市场及经济前景的忧虑。与此同时，尽管里士满联储制造业指数从-15回升至-7，仍处于收 缩区间，但企业对未来六个月的预期已转为强烈乐观。其商业状况、新订单及就业预期指数均已跃升至 正值高位，表明经营主体对中期前景的信心正加速建立。 通胀和政策因素主导消费者关切 世界大型企业联合会首席经济学家Dana M. Peterson指出，消费者在开放式回答中提及的经济影响因素 仍以物价与通胀、关税与贸易以及政治议题为主导。然而，12月对移民、战争以及个人财务问题（如利 率、税收与收入、银行与保险）的关注度明显上升。 周二公布的数据显示，世界大型企业联合会（Conference Board）的综合经济指数从上月的92.9降至 89.1，这一跌势目前已追平自2008年以来的最长连跌纪录。 衡量当前状况的分项指数骤降至116.8，为2021年2月以来最低水平。该指数衡量消费者对当前商业和劳 动力市场状况的评估，本月下跌9.5点。相比之下，反映未来六个月预期的指数在12月持平于70.7，但已 连续11个月低于80这一传统上预 ...

美国财政部长贝森特支持在通胀率稳步回落至2%之后，重新审视美联储的这一通胀目标。贝森特建 议，一旦通胀目标重新锚定，可以讨论将其转变为一个区间，例如1.5%-2.5%，或者1%-3%。贝森特承 认，民众对生活成本的担忧，表示"我们理解美国人民正深陷痛苦"，并将其归咎于拜登政府时期的物价 高企。 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 ...

Core Viewpoint - Sun Hongbin's recent appearance in Chongqing signifies the return of Sunac China to a stable operational path following a comprehensive debt restructuring that has alleviated the company's debt risks and set the stage for a sustainable recovery [2][3]. Group 1: Debt Restructuring - Sunac China's offshore debt restructuring plan has officially taken effect, eliminating debt risks at the listed company level and marking the completion of both domestic and international debt restructuring after three years of adjustment [2][3]. - The restructuring plan has effectively reduced Sunac's overall debt burden by nearly 60 billion yuan, significantly enhancing its net assets and financial stability [3]. - The restructuring process involved innovative strategies, including debt-to-equity swaps, and garnered a 98.5% approval rate from creditors, showcasing a strong commitment to shared risk [4]. Group 2: Operational Recovery - Sunac is expected to deliver over 50,000 new homes this year, achieving a cumulative delivery of over 700,000 homes in four years, thus fulfilling all delivery commitments ahead of its peers [5]. - The company has regained its market position with strong sales figures, including over 22 billion yuan in sales from Shanghai Yihua, ranking first in the national single-project sales [5]. Group 3: Industry Context - Sunac's successful debt restructuring reflects a broader trend in the real estate industry, where 21 distressed property companies have completed debt restructuring or reorganization this year [6]. - The industry is moving towards collective recovery, with a consensus that resolving debt risks is crucial for restoring healthy operations among property firms [6][7]. - Sunac's innovative approach serves as a benchmark for other companies seeking to navigate similar challenges, highlighting the importance of collaborative solutions in the sector [6][9]. Group 4: Asset Base - Following the debt restructuring, Sunac's total land reserve exceeds 124 million square meters, with nearly 70% located in core first- and second-tier cities, providing a solid foundation for future asset revitalization and value recovery [8].

Core Viewpoint - SMIC has implemented a price increase of approximately 10% on certain production capacities due to rising demand in the semiconductor industry, driven by mobile applications and AI needs, as well as increased raw material costs [1][2]. Group 1: Price Increase and Demand - SMIC has raised prices on some production capacities by about 10% [1]. - The price increase is expected to be implemented quickly, following prior increases in storage product prices due to low pricing [2]. - The demand for semiconductor products is growing, influenced by the continuous rise in mobile applications and AI, which has led to increased demand for wafers [2]. Group 2: Capacity Utilization and Production - SMIC's capacity utilization rate rose to 95.8% in Q3 2025, up from 92.5% in Q2 2025, indicating strong demand [5]. - The overall production capacity remains in a state of supply shortage, with shipments unable to fully meet customer demand [6]. - Hua Hong's overall capacity utilization rate reached 109.5% in Q3 2025, reflecting high operational efficiency [8]. Group 3: Financial Guidance - SMIC's revenue guidance for Q4 indicates a flat to 2% growth compared to Q3, with a gross margin forecast of 18% to 20% [7]. - The company expects its annual sales revenue to exceed $9 billion, marking a significant milestone in revenue scale [7].

风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 美国三季度核心个人消费支出(PCE)物价指数年化季环比 2.9%，预期 2.9%，前值 2.6%。 ...

Core Insights - The article discusses the recent financial performance of a leading company in the technology sector, highlighting a significant increase in revenue and net profit for the last quarter [1] Financial Performance - The company reported a revenue of $5 billion for the last quarter, representing a 20% increase year-over-year [1] - Net profit reached $1 billion, which is a 25% increase compared to the same period last year [1] Market Position - The company has strengthened its market position, capturing an additional 5% market share in the technology sector [1] - The growth is attributed to increased demand for its innovative products and services [1] Future Outlook - Analysts predict continued growth for the company, with expected revenue growth of 15% for the upcoming quarter [1] - The company plans to invest $500 million in research and development to enhance its product offerings [1]

ADP：截至12月6日的四周，美国私营部门就业人数平均每周增加11500人。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 ...