Market Performance - On November 21, the three major A-share indices weakened, with the ChiNext Index dropping over 3.00% [1] - The Shanghai Composite Index fell by 1.74%, and the Shenzhen Component Index decreased by 2.66% [1] - Nearly 5,000 stocks in the Shanghai, Shenzhen, and Beijing markets experienced declines [1] Sector Performance - The lithium battery supply chain, computing hardware, photovoltaic, and storage chip sectors saw the largest declines [1]

根据特斯拉中国官网最新更新的价格信息显示，搭载此次全新星钻黑车漆的Model S起售价为85.59万 元，而同样配备星钻黑车漆的Model X起售价则为89.59万元。 凤凰网科技讯 11月21日，特斯拉中国官方今日对旗下旗舰车型Model S及Model X进行了产品更新。此 次调整主要集中在外观配色、内饰细节及驾驶硬件的优化上，并未涉及动力总成的重大变更。在外观方 面，新车增加了冰霜蓝与星钻黑两种全新车漆选择，同时配备了全新设计的轮毂样式。 在座舱与驾驶体验层面，升级后的车型引入了动态氛围灯，试图通过光效提升车内的交互感。针对此前 用户关注的驾乘质感问题，特斯拉对此番改款车型的悬架系统进行了重新调校，并针对车身静谧性做出 了优化处理，以期提供更舒适的乘坐反馈。数据显示，新车型在CLTC工况下的续航里程为715公里。 ...

Core Insights - Xiaomi Auto officially launched the Xiaomi HAD Enhanced Version at the Guangzhou Auto Show, showcasing advancements in smart driving technology and talent acquisition in the AI field [1] - The company plans to invest over 7 billion yuan in AI research and development by 2025, with a current team of 1,800 experts, including 108 PhDs [1] Technical Developments - The new Xiaomi HAD Enhanced Version is built on a foundation of 10 million clips and incorporates reinforcement learning algorithms and world models to enhance driving performance [1] - The world model technology allows the system to simulate various scenarios, including extreme weather and complex road conditions, transitioning from a "rule-driven" to a "learning-driven" approach [1] User Experience Enhancements - The updated version focuses on optimizing longitudinal and lateral control experiences, particularly in scenarios like lane merging, reducing unnecessary deceleration and hard braking [2] - Significant upgrades to active safety features include the introduction of the AES emergency steering assist function, which can automatically change lanes to avoid collisions at speeds between 80 km/h and 135 km/h [2] Safety Features Expansion - The forward AEB (Automatic Emergency Braking) range has been expanded to 1 km/h to 135 km/h, with new capabilities to recognize various obstacles [2] - The backward AEB covers reversing scenarios from 1 km/h to 30 km/h, with a focus on balancing sensitivity to ensure accurate stopping while minimizing false triggers [2] Software Updates - The driving updates will be included in the Xiaomi HyperOS 1.11.0 version, with rollout times varying by model due to review progress [2]

Core Viewpoint - The unexpected increase of 119,000 non-farm jobs in September significantly exceeded market expectations, raising the likelihood that the Federal Reserve will not lower interest rates next month [1] Economic Impact - Kevin Hassett, Director of the National Economic Council, indicated that the government shutdown is expected to negatively impact Q4 GDP by 1.5 percentage points [1] - The strong employment report for September is not sufficient to offset other negative factors affecting the economy [1] Inflation and Interest Rates - The Consumer Price Index (CPI) for September showed better-than-expected inflation, which is currently above the Federal Reserve's 2% target [3] - There are concerns that lowering interest rates to support the labor market could prolong the high inflation cycle and increase risk appetite in financial markets [3] Employment Trends - The employment growth in September followed a downward revision of August's job gains from an increase of 22,000 to a decrease of 4,000 [1] - The recent trend shows fluctuations in job growth, with negative job additions in June, followed by increases in July and September [1] - Most job growth has been in the healthcare and education sectors, but the construction industry is also seeing an increase in jobs due to new factory openings driven by tax incentives [1][4] Unemployment Rate - Despite the significant job growth, the unemployment rate rose by 0.1 percentage points to 4.4%, attributed to an increase in labor force participation as more individuals begin to seek employment [1][4]

智通财经11月21日讯（编辑 潇湘）美国股市周四创下四月以来最剧烈的盘中反转，尽管盘初随英伟达 炸裂财报高开，但基准的标普500指数此后却一路跌至了两个多月来的最低点——与此同时，困惑的华 尔街交易员们正抓耳挠腮地琢磨，究竟是什么引发了这波巨震行情？ 据FactSet数据显示，纳斯达克综合指数周四的交易区间为4月份特朗普宣布"解放日"关税政策震动市场 以来最大震幅。标普500指数开盘一小时内曾上涨1.9%，但随后全数回吐涨幅，最终收跌1.6%，同样创 下自4月市场动荡以来最大反转，市值蒸发超过2万亿美元。 衡量美股预期波动性的"恐慌指数"VIX则收于26以上，创四月以来新高。 目前，标普500指数已较10月历史高点下跌了逾5%，并自2月以来首次跌破100日移动均线。该基准指数 周四收于了9月11日以来的最低点。 周四股市抛售潮在风险最高的板块尤为明显：做空最严重的股票指数下跌3.5%，高盛集团追踪的一项 未盈利科技企业的指数下跌3.7%；罗素微型股指数下跌1.9%——这使其从历史高点的跌幅扩大至了 10%。 在收盘后，华尔街对当天市场经历的疯狂行情成因，显然众说纷纭。 部分交易员指出，市场再度担忧人工智能项目 ...

Core Insights - Faraday Future (FF) announced that its subsidiary AIxCrypto Holdings Inc. has completed the renaming process and will trade under the new stock code "AIXC" on NASDAQ, marking the second publicly listed company controlled by Jia Yueting [1] - AIxC aims to integrate blockchain technology with AI, focusing on creating a business ecosystem that connects Web2 and Web3, with three main areas of focus: Web3 AI trading terminals, Real World Assets (RWA), and AI management of crypto assets [1] - The RWA business will initiate with a tokenization project for FFAI stock, planning to purchase $5 million worth of FFAI stock through an independent third party [1] Business Strategy - FF defines this capital operation as the establishment of a "dual-flywheel, dual-listing" system, with AIxC serving as an independent growth engine expected to empower the parent company FF in five dimensions: financing, assets, and technology [2] - The company aims to explore lower-cost and more efficient financing paths through stock tokenization, alleviating financial pressure on its vehicle manufacturing business [2] Technological Developments - FF has recently submitted a patent for a blockchain-based vehicle sharing and time-sharing leasing system, which aims to automate credit verification and settlement for idle vehicle revenue distribution [2] - The company is on track to achieve the first vehicle rollout of the FX Super One by the end of the year and plans to commence the first vehicle delivery in the Middle East on November 27 [2]

如果2026年是库克担任苹果CEO的最后一年，他将华丽退场。《金融时报》此前报道称，苹果正在加紧 推进接班人计划。这似乎愈发表明，这家卓越的消费科技巨头很快将迎来新的掌舵人。 以下是文章全文： 凤凰网科技讯 北京时间11月21日，苹果公司CEO蒂姆·库克(Tim Cook)或在明年卸任。《金融时报》编 辑理查德·沃特斯(Richard Waters)发表观点文章称，苹果新任CEO不能安于现状，应该更具冒险精神， 大胆押注AI等新的技术潮流。 过去一个月，iPhone 17的强劲需求一度将苹果的市值推高至4万亿美元以上。加上库克上任之初推动的 大规模股票回购这一强劲助力，苹果股价自2011年他接任以来已上涨20倍。 但是，在AI革命中采取被动跟随姿态显然存在风险。若大语言模型成为创新核心，而苹果仅充当"收租 人"，将定义下一代数字体验的主导权拱手相让，必将使其陷入尴尬境地。 更关键的是，倘若大语言模型演变为实质性的新操作系统，它们将具有战略性重要性。OpenAI近期展 示的ChatGPT内直接调用应用功能，正是对iPhone应用商店模式的直接挑战。 然而，在AI正引发数十年来科技界最深刻变革的当下，库克的离任也 ...

Core Insights - Blue Origin, founded by Jeff Bezos, announced plans to develop a larger and more powerful variant of the "New Glenn" rocket, named "New Glenn 9x4," which will feature nine engines in the first stage and four in the second stage, increasing the engine count by two for each stage compared to the current design [1][2] - The announcement follows the successful second launch of the "New Glenn" rocket, which included the first delivery of a Mars satellite for NASA and the successful recovery of the first stage [1] - Blue Origin's roadmap indicates that the new heavy-lift rocket will provide more launch options for customers, including large constellation deployments, lunar and deep space exploration, and national security projects [1] Company Developments - The CEO of Blue Origin, Dave Limp, shared a digital rendering of the new "New Glenn" rocket, which is taller than the Saturn V rocket used in the Apollo program, indicating a significant increase in size and payload capacity [2] - The company has not disclosed a specific timeline for the first flight of the new rocket variant but emphasized that the design is an iteration from the existing 7x2 model, allowing for quicker construction [1]

Market Overview - On November 21, US stock markets experienced significant volatility, with the Nasdaq initially rising over 2% due to Nvidia's strong earnings report, but ultimately closing down over 2% as valuation concerns resurfaced and interest rate cut expectations were further dampened [1][3] - The Dow Jones Industrial Average fell 0.84% to 45,752.26 points, the S&P 500 dropped 1.56% to 6,538.76 points, and the Nasdaq Composite decreased 2.15% to 22,078.05 points [3] Nvidia Performance - Nvidia's stock rose by 5% during the day but closed down 3%. CEO Jensen Huang emphasized strong demand for the Blackwell chip and denied the existence of an AI bubble, yet market concerns prevailed [3] - Analyst Jeff Kilburg from KKM Financial noted that Nvidia's momentum is being overshadowed by declining expectations for a December interest rate cut, which was previously anticipated [3] Employment Data Impact - The US non-farm payrolls report for September showed an increase of 119,000 jobs, significantly above the market estimate of 52,000, with an unemployment rate of 4.4%, slightly above the expected 4.3% [3] - This strong employment data has contributed to lowering expectations for interest rate cuts, with the probability of a December cut now below 40% [3] Retail Sector Highlights - Walmart was one of the few stocks to perform well, with its shares rising over 6% after reporting better-than-expected third-quarter sales and revenue, partly due to growth in its e-commerce business [3][4] Technology Sector Performance - Major tech stocks experienced declines, with Nvidia down 2.97%, Microsoft down 1.60%, Apple down 0.86%, Google down 1.15%, Amazon down 2.49%, Meta down 0.19%, Tesla down 2.21%, Broadcom down 2.14%, and Oracle down 6.58% [5] - Chinese stocks also fell, with the Nasdaq Golden Dragon China Index down 3.26%, Alibaba down 3.53%, JD.com down 1.68%, Pinduoduo down 4.31%, NIO down 6.09%, Xpeng down 5.10%, Li Auto down 2.32%, Bilibili down 4.54%, Baidu down 4.36%, NetEase up 0.40%, Tencent Music down 5.61%, and Pony.ai down 4.86% [5] Company News - Google launched a new image generation and editing model called NANO BANANA PRO, which is designed to produce clearer images and support more precise and readable text in multiple languages [5] - SoftBank plans to invest up to $3 billion to retrofit an electric vehicle factory in Lordstown, Ohio, to produce equipment for OpenAI's upcoming data center, making SoftBank one of OpenAI's largest investors [6] - Waymo, a subsidiary of Alphabet, announced the expansion of its autonomous ride-hailing service to Minneapolis, Tampa, and New Orleans [7] - Verizon announced it will lay off over 13,000 employees as part of a plan to streamline operations and reduce external labor costs, indicating that every department will undergo some level of change [8]

Core Insights - Huawei's HarmonyOS cockpit has reached 1.34 million users, achieving the highest brand recognition and an average NPS of 93.6% [1] Group 1: Product Development - The HarmonyOS cockpit has entered the L3 era, enhancing capabilities in perception, understanding, connectivity, memory, decision-making, and execution [1] - The intelligent cockpit is categorized into levels: L1 (Instruction Assistant), L2 (Task Assistant), L3 (Professional Assistant), L4 (Exclusive Butler), and L5 (Digital Superman) [1] Group 2: Technical Features - HarmonySpace 5, based on the new MoLA architecture, includes over 30 new features such as a 3D smart control desktop and intercom capabilities for inside and outside the vehicle [1]