ET = 鲍威尔在发布会上坚定捍卫美联储独立性 北京时间1月29日,美联储公开市场委员会以10-2票,决定在此前三次 会议连续降息后,将联邦基金利率目标区间维持3.5-3.75%不变。 我们并没有试图阐明下次降息的时间或是否在下次会议上降 息的标准。我们想说的是,我们目前处于有利地位,可以逐 次会议地做出决策。 ▶ 坚定捍卫美联储独立性 这(美联储理事库克解职听证会)或许是美联储113年历史上 最重要的法律案件。 (美联储) 独立性的目的不是为了保护 政策制定者或其他什么人,而是因为世界上所有发达经济体 和民主国家都已普遍采用这种做法。 (如果失去这种独立性)就很难恢复美联储的信誉。 美联储在会后声明中暗示,在经历此前三次会议连续降息后,并不急 于恢复降息。"现有指标显示，经济活动正稳步扩张。就业增长依然缓 慢,失业率也出现了一些企稳迹象。通胀率仍然略高。" 声明称:"在考虑对联邦基金利率目标区间进行额外调整的程度和时 间时,委员会将仔细评估新出现的数据、不断变化的前景以及风险平 衡。"。 2025年9月来三次会议连续降息 Jan Feb Mar May Sept llet ADI Jun III AU0 N ...

北京时间周四（28日）凌晨，美联储公布1月利率决议。联邦公开市场委员会（FOMC）以10-2的方式 决定维持利率区间在3.50%-3.75%不变，两张反对票来源于美联储理事沃勒和米兰，他们提出降息25个 基点。 美联储主席鲍威尔表示，当前的经济增长前景相较去年有所改善，委员会将继续根据最新出炉的经济数 据，逐次会议作出降息相关决策，并为美联储坚持独立性辩护。当前，美联储正应对外界对美国总统特 朗普干预其中立独立性的诸多质疑，同时静待新任领导层的产生。 美联储肯定经济表现 美联储决议声明称，现有指标显示，经济活动正以稳健步伐扩张。就业岗位新增数量保持低位，失业率 呈现出一定企稳迹象，通胀水平仍处于偏高状态。 值得重点关注的是，声明中删除了此前提及的 "委员会认为劳动力市场走弱的风险高于通胀高企风 险"的表述。这一调整意味着，美联储官员认为其实现低通胀和充分就业的双重目标正逐步趋于平衡， 因此货币政策将采取更为审慎的观望态度。 鲍威尔在新闻发布会伊始表示，美国经济开年根基稳固。"美国经济去年以稳健步伐扩张，2026 年开局 根基稳固。尽管就业岗位新增数量持续处于低位，但失业率已显现一定企稳迹象，通胀水平仍处于偏高 ...

Market Overview - US stock market showed mixed results as investors digested the latest Federal Reserve interest rate decision and awaited earnings reports from several tech giants [2] - The Dow Jones Industrial Average rose by 12.19 points, or 0.02%, closing at 49,015.60 points, while the Nasdaq increased by 0.17% to 23,857.45 points; the S&P 500 index slightly declined by 0.01% to 6,978.03 points, having briefly surpassed the 7,000-point mark during the session [2][3] Technology Sector Performance - Star tech stocks exhibited mixed performance: Nvidia rose by 1.59%, Google by 0.38%, and Microsoft by 0.22%, while Tesla fell by 0.10%, and Meta, Amazon, and Apple dropped over 0.6%, with Apple down by 0.7% and Oracle down by 1.20% [3][4] - The Nasdaq China Golden Dragon Index increased by 0.32%, with Alibaba up by 1.70%, NetEase by 1.46%, and Baidu by 0.02%, while JD.com fell by 0.92% and Pinduoduo dropped by 3.84% [3] Semiconductor Sector Highlights - The Philadelphia Semiconductor Index rose by 2.3%, with Intel increasing by 11.04% and Texas Instruments by 9.9% [5] - ASML, a semiconductor equipment giant, opened high but closed down by 2.1%. The company reported a record net sales of €9.7 billion for Q4 2025, exceeding market expectations, driven by increased investment in AI chip manufacturing capacity [5] - ASML also raised its sales outlook for 2026, expecting annual sales between €34 billion and €39 billion, compared to analyst expectations of €35 billion [5] Federal Reserve Insights - The Federal Reserve announced it would maintain interest rates, stating that the US economy is expanding at a "steady pace" and the unemployment rate shows signs of stabilization [5] - Market expectations suggest that the first potential interest rate cut could occur in June or July of this year [6] Commodity Market Movements - Geopolitical factors continue to impact oil prices, with WTI crude oil rising by 1.31% to $63.21 per barrel and Brent crude oil increasing by 1.23% to $68.40 per barrel [7] - Precious metals saw significant gains, with COMEX gold futures for January delivery rising by 4.36% to $5,301.60 per ounce and silver futures increasing by 7.19% to $113.11 per ounce [7]

2026.01.28 自从去年9月以来，美联储已连续三次会议降息，将联邦基金利率目标区间降至了3.5%-3.75%——该区 间目前来看正符合官员们中性利率政策的立场预期，即既不刺激也不抑制经济增长。 来源：证券时报、智通财经 微信编辑| 雨林 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专 用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 本文字数：548，阅读时长大约1分钟 当地时间1月28日下午2点（北京时间1月29日凌晨3点），美国联邦储备委员会将公布2026年首份利率决 议。 市场普遍预期，美联储将暂停此前连续三次的降息步伐，维持联邦基金利率目标区间在3.5%—3.75%不 变。本次会议的核心焦点已转向降息重启时点、政策声明措辞调整及政治因素对美联储决策独立性的影 响。 据芝加哥商品交易所（CME）"美联储观察"工具数据，当前市场预期美联储1月降息概率仅为2.8%，维 持利率不变的概率高达97.2%，多数交易员同时认为3月、4月会议降息可能性极低。这一预期与美联储 官员近期表态高度一致，纽约联储主席威廉姆斯、美 ...

本文字数：2699，阅读时长大约4分钟 作者 |第一财经 陈君君 年终奖到账后，来自上海的一位投资者一时犯了难。手握十余万元年终奖，她既担心错过股市与贵金属 的上涨行情，又对高波动心存顾虑。 2026年以来，黄金价格大幅攀升，A股、港股同步走强，部分海外市场表现同样亮眼，相比之下，传统 理财产品的收益率显得并不突出。"买股票怕追高，放存款又觉得赚得太少"，这位投资者的纠结，正是 当前不少个人投资者的真实写照。 在这样的市场背景下，年终奖该如何安放，成为岁末年初的热门话题。与投资者的犹豫不决形成呼应 的，是银行端的密集动作。近期，国有大行、股份制银行以及多家城商行相继推出年终奖专属理财与配 置活动，产品形态不再局限于单一理财，而是延伸至存款、基金、保险及客户激励等多个维度，试图以 整体配置的方式承接这笔集中到账的资金。 产品密集上线，配置思路前移 2026.01.28 股份制银行中，浦发银行推出"年终奖规划锦囊"，将存款产品与理财产品分层组合。在存款端，安享赢 定期存款系列覆盖1年期、2年期和3年期，年利率分别为1.3%、1.4%和1.75%，均为100元起购；理财端 则同步推出3个月期、7个月期和14个月期的 ...

Group 1 - The U.S. stock market opened with all three major indices rising, with the Dow Jones up 0.21%, the Nasdaq up 0.65%, and the S&P 500 surpassing the 7000-point mark for the first time, setting a new record high [1] - The semiconductor sector led the gains, with Intel rising over 9%, and storage companies also saw significant increases: Seagate Technology up over 16%, Western Digital up over 10%, SanDisk up over 8%, and Micron Technology up nearly 5% [1][2] - Other sectors such as telecommunications services, electrical equipment, and non-ferrous metals also experienced notable gains [2] Group 2 - Texas Instruments rose 5%, with Q1 earnings guidance exceeding market expectations [4] - Starbucks increased by 6.5%, reporting a 4% growth in same-store sales in the U.S. for the first quarter, which was above market expectations [4]

Core Viewpoint - The article discusses the recent surge in gold prices, which has led banks to tighten the entry requirements for gold accumulation business, reflecting a shift in the risk management approach in the banking sector [2][5]. Group 1: Changes in Risk Assessment - Major banks, including Agricultural Bank of China and Industrial and Commercial Bank of China, have raised the risk tolerance requirements for individual clients participating in gold accumulation business, now requiring a minimum of "C3 - Balanced" risk assessment results [3][4]. - This adjustment is a response to increased market volatility and aims to protect individual investors' rights [4][5]. - Other banks, such as Citic Bank, have also raised their risk assessment levels to "C3" or higher for gold accumulation business, indicating a broader trend across the banking industry [5][6]. Group 2: Changes in Minimum Investment Amounts - Banks have been dynamically adjusting the minimum investment amounts for gold accumulation business, with some banks implementing floating mechanisms based on real-time gold prices [10]. - For instance, China Construction Bank raised its minimum investment amount from 700 yuan to 800 yuan in March 2025, and further to 1000 yuan in May 2025 [10]. - As of January 28, 2026, Zhejiang Commercial Bank increased its monthly cumulative investment minimum from 1200 yuan to 1300 yuan, reflecting the ongoing trend of increasing entry barriers in response to rising gold prices [11]. Group 3: Regulatory Environment - The adjustments in risk assessment and minimum investment amounts are influenced by regulatory changes, including the implementation of the "Financial Institutions Product Appropriateness Management Measures" by the National Financial Supervision Administration [7]. - This regulation sets unified standards for appropriateness management across the financial industry, prompting banks to align their risk management practices accordingly [7][8]. - The shift in the positioning of gold accumulation business from a low-threshold investment product to one with medium to high risk is anticipated as banks continue to raise entry requirements [7][8].

Core Viewpoint - The lithium battery industry is expected to reach a performance turning point in 2025, with many companies reporting improved earnings due to rising prices of key lithium materials and sustained demand from the electric vehicle and energy storage sectors [2][3]. Group 1: Industry Performance - Among 28 lithium battery companies that disclosed earnings forecasts, 11 are expected to see profit increases, and 6 are projected to turn losses into profits, indicating a recovery in the lithium battery materials sector [2]. - Key players in lithium materials, such as lithium carbonate and hexafluorophosphate, have reported significant quarter-on-quarter earnings growth, driven by price increases and ongoing demand from the electric vehicle and energy storage markets [2][3]. Group 2: Price Trends - The price of battery-grade lithium carbonate has shown a "V-shaped" recovery, rising from 73,000 yuan/ton to approximately 120,000 yuan/ton, with peaks reaching around 134,000 yuan/ton by the end of 2025 [4]. - The increase in lithium carbonate prices has significantly improved the profitability of lithium salt companies, with major firms like Ganfeng Lithium and Yahua Group reporting substantial profit increases [4][5]. Group 3: Company-Specific Insights - Ganfeng Lithium is expected to turn a profit in 2025, with projected net profits ranging from 1.1 billion to 1.65 billion yuan, compared to a loss of 2.074 billion yuan in the previous year [4]. - Yahua Group anticipates a net profit of 600 million to 680 million yuan in 2025, representing a year-on-year growth of 133.36% to 164.47% [4]. - Tianqi Lithium and other suppliers are also expected to report significant profit increases due to rising prices of hexafluorophosphate and lithium carbonate [5]. Group 4: Market Demand and Future Outlook - The demand for energy storage and electric vehicles remains strong, with global energy storage battery shipments expected to reach 640 GWh in 2025, a year-on-year increase of 82.9% [6]. - The continuation of domestic vehicle replacement policies and the resumption of electric vehicle purchase subsidies in Germany are expected to further boost demand [6]. - Analysts suggest that as long as the demand for new energy remains strong, the prices of key upstream products like lithium carbonate are likely to continue rising, leading to a new cycle of prosperity in the industry [7].

6天3板西部黄金：经公司自查，目前未发现其他可能或已经对公司股票交易价格产生重大影响的媒体报 道或市场传闻。目前公司关注到黄金市场热度较高，黄金采选和冶炼是本公司主营业务之一，敬请广大 投资者理性投资、审慎决策，注意投资风险。 赤峰黄金：公司主营业务为黄金采选，目前内部生产经营秩序正常，内外部经营环境未发生重大变化。 近期，公司黄金产品的市场价格累计涨幅较大，预计将对公司经营业绩产生一定影响。 1月28日，A股黄金概念股再掀涨停潮。截至收盘，飞南资源、晓程科技、迪阿股份20%涨停，中国黄 金、白银有色、招金黄金、铜陵有色、湖南黄金、赤峰黄金等30多只个股涨停。 4连板豫光金铅：公司属有色金属冶炼行业，原料自给率较低，有色金属价格波动将会对公司盈利能力 产生影响。近期公司产品白银价格出现较大涨幅，未来白银价格能否继续上涨或维持高位存在不确定 性；若未来白银价格出现下跌，将会对公司业绩造成不利影响。 4连板中国黄金：公司主营业务未发生变化，主要从事黄金珠宝首饰研发、加工、零售、批发及回购 等，未拥有探矿权、采矿权，敬请广大消费者理性决策，审慎投资。 晚间，多只概念股发布公告提示风险。 7连板白银有色：公司主要业务 ...

作者 |第一财经 陆涵之 亚马逊在当地时间1月28日开启了新一轮裁员。 亚马逊表示，当天宣布的裁员将影响16000个职位。亚马逊将为大多数美国员工提供 90 天的内部职位寻 找机会。对于无法在亚马逊找到新职位或选择不寻找新职位的员工，亚马逊将提供过渡支持，包括遣散 费、职业介绍服务、医疗保险福利等。 2026.01.28 本文字数：1200，阅读时长大约2分钟 美国科技行业开年后迎来裁员潮。本月，Meta将裁减旗下Reality Labs部门VR相关的员工，本次裁员涉 及约1000个工作岗位，同时关闭了多家开发VR游戏的工作室。 此外，1月27日，社交媒体Pinterest表示，计划裁员近15%，并缩减办公空间，以拥抱人工智能，预计裁 员将在第三季度末完成。 微信编辑| 雨林 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专 用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 对于本次裁员原因，亚马逊表示一直在努力通过精简层级、增强责任担当和消除官僚主义来强化组织架 构。虽然许多团队在去年10月完成了组织架构调整，但其他一 ...