牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 美东时间10月20日周一，美国三大股指上涨，现货黄金再创历史新高。市场对地区银行的信 贷担忧有所缓解、美国政府有望结束停摆，且特朗普近期豁免数十种进口商品关税，这些消 息提振了市场情绪。苹果收高3.94%，股价创下历史新高。 美国三大股指全线收涨 截至收盘，道指涨515.97点，涨幅为1.12%；纳指涨310.57点，涨幅为1.37%；标普500指 数涨71.12点，涨幅为1.07%。 美国联邦政府停摆进入第20天，参议院上周第十次未打破僵局，停摆致多项关键经济数据发 布延期，使投资者和政策制定者在美联储下周会议前陷入"数据真空"，受影响的美国消费者 价格指数预计本周五发布。 目前交易员预计美联储下周降息概率达99%，12月还将再次降息。 北方信托首席投资官Katie Nixon在给客户的一份报告中表示："尽管上周五美股小幅反弹， 但风险资产显示地缘政治不确定性加剧，尤其是国际贸易关系方面。国际贸易争端对双方都 有重大经济风险，因此达成可接受的妥协十分重要。" 据香港万得通讯社，美国总统特朗普在播出 ...

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 特朗普再次向印度施压。 据CME"美联储观察"：美联储10月降息25个基点的概率为99.4%，维持利率不变的概率为0.6%。美联 储12月累计降息50个基点的概率为98.6%，累计降息75个基点的概率为0.9%。 特朗普警告 据最新消息，特朗普在空军一号上对记者们说道："我与印度总理莫迪进行了交谈，他说，印度将停止购 买俄罗斯石油。" 特朗普警告称，如果印度不这么做，那么印度将继续支付"巨额"关税。 当被问及印度声称莫迪和特朗普之间并没有进行过任何交流时，特朗普回答道："但如果他们想这么说， 那他们就只能继续支付巨额关税，而他们不想这么做。" 在俄乌冲突爆发以来，多数西方国家选择拒绝购买俄罗斯石油，以作为对俄罗斯的制裁。俄罗斯石油因此 在国际市场上折价出售，而印度就是购买俄罗斯折价石油的最大买家。 美国总统特朗普威胁称，如果印度不停止购买俄罗斯石油，他将对印度商品征收"巨额关税"。这一表态加 剧了两国之间的紧张关系。 目前，美国与印度的贸易谈判正在进行。据最新消息，一位印度官员表示，双方在贸易相关问 ...

Group 1 - The core viewpoint of the article highlights the strong performance of technology stocks, particularly in the context of the recent surge in the market, with the ChiNext Index rising over 3% and AI hardware stocks showing significant gains [3][4]. - Domestic GPU advancements are identified as a key driver for the recent CPO (Cloud, Platform, and Operation) stock surge, with companies like Muxi achieving breakthroughs in high-performance GPU technology [6]. - The third-quarter performance of Cambrian, with a revenue of 1.727 billion yuan (up 1333% year-on-year) and a net profit of 567 million yuan, has bolstered market confidence in the tech sector [6]. Group 2 - The market is currently experiencing a wide range of fluctuations, influenced by trade negotiations, leading to discussions about whether funds will return to dividend stocks or continue to invest in technology [8]. - Short-term market sentiment is approaching a neutral level, with expectations that after a reasonable cooling of fund indicators, market sentiment may revert to a more favorable price-performance ratio [8]. - There is potential for a style switch towards defensive sectors, but a breakthrough in indices may still depend on the revival of the technology sector [8].

Market Overview - The A-share market experienced an overall increase on October 20, with the Shanghai Composite Index rising by 0.63%, the Shenzhen Component Index by 0.98%, and the ChiNext Index by 1.98% [5] - A total of 4,064 stocks rose, with 95 stocks hitting the daily limit up, while 1,253 stocks declined [6] Sector Performance - The coal and gas sectors saw significant gains, with multiple stocks such as Zhengzhou Coal Power and Guo Xin Energy reaching their daily limit up [8] - CPO and other computing hardware stocks also surged, with companies like Cambridge Technology and Hui Lv Ecology hitting the limit up [10] Notable Stocks - In the coal sector, notable performers included: - Shaanxi Black Cat: +10.13% [9] - Zhengzhou Coal Power: +10.10% [9] - In the gas sector, key stocks included: - Kai Tian Gas: +10.43% [10] - Guo Xin Energy: +10.00% [10] International Market Trends - Japanese and Korean stock markets reached new highs, with the Nikkei 225 index soaring by 1,600 points, surpassing 49,000 points [16] - The Seoul Composite Index increased by 1.6%, driven by substantial progress in tariff negotiations with the U.S. [18]

Market Overview - The A-share market shows balanced performance with technology stocks rebounding, including significant gains in companies like Zhongji Xuchuang, which rose by 8.31% with a market capitalization of 449.6 billion yuan and a trading volume of 19.52 billion yuan [3][6] - The Shanghai Composite Index increased by 0.69%, the Shenzhen Component Index rose by 1.38%, and the ChiNext Index surged by 2.49% [6] Technology Sector - The technology sector experienced a rebound, particularly in consumer electronics, computing power, and semiconductor supply chains [8] - Notable performers include companies like Yuanjie Technology, which saw a 14.84% increase, and Changguang Huaxin, which rose by 11.62% [9] AI Chip Companies - Domestic AI chip leaders, Haiguang Information and Cambrian, reported strong third-quarter earnings, with Haiguang achieving a revenue of 9.49 billion yuan, up 54.65%, and a net profit of 1.96 billion yuan, up 28.56% [11] - Cambrian reported a staggering revenue increase of 2386.38% year-on-year, reaching 4.607 billion yuan, and a net profit of 1.605 billion yuan, marking a turnaround from losses [11] Policy Support - Recent government policies, including the Ministry of Industry and Information Technology's initiatives to enhance computing power infrastructure, are expected to drive growth in the sector [13] - The plan aims for a 50% deployment rate of high-performance networks by 2027, which will benefit the computing power industry [13] Solid-State Battery Sector - The solid-state battery sector is witnessing significant growth, with companies like Haike New Energy and Zhuhai Guanyu seeing substantial stock price increases [16] - Recent breakthroughs in solid-state battery technology, including advancements from research teams at the Chinese Academy of Sciences and Tsinghua University, promise to enhance battery performance and efficiency [18][19]

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 国家统计局20日发布的最新数据显示，前三季度国内生产总值1015036亿元，按不变价格计算， 同比增长5.2%，比2024年全年和2024年同期分别加快0.2、0.4个百分点。国家统计局表示，前 三季度经济运行稳中有进。实现全年预期目标有基础、有支撑。 分季度看，一季度国内生产总值同比增长5.4%，二季度增长5.2%，三季度增长4.8%。对于三季 度GDP增速有所回落，国家统计局新闻发言人称，主要是外部环境复杂严峻、国内结构调整压力较 大等因素共同作用的结果。 近期宏观调控进一步加大支持力度，比如，出台实施《关于扩大服务消费的若干政策措施》、下达 第四批消费品以旧换新资金、加强"两重"项目组织调度等，有助于形成政策合力。专家普遍认为， 四季度宏观政策协同性和针对性将进一步提升，将推动2025年经济平稳收官。 工业生产较快增长 新动能稳步成长 前三季度，全国规模以上工业增加值同比增长6.2%。装备制造业增加值同比增长9.7%，高技术制 造业增加值增长9.6%，增速分别快于全部规模以上工业3.5和3.4 ...

Group 1 - The article discusses the recent signals from Trump regarding tariff policies, indicating a potential easing of trade tensions [4][5] - Trump has reportedly exempted dozens of products from "reciprocal tariffs" and is open to excluding more items from tariffs during trade negotiations [5][6] - The shift in tariff policy reflects an internal belief within the Trump administration that the U.S. should lower tariffs on goods not produced domestically [5][6] Group 2 - On October 19, Trump announced new tariffs under Section 232, including a 25% tariff on trucks and truck parts, and a 10% tariff on buses, effective November 1 [6] - The administration has expanded the tariff exemption program for automakers, allowing them to apply for deductions on tariff costs until 2030 [6] - A new list of product exemptions, referred to as "Attachment Three," aims to include items that the U.S. cannot produce, such as certain agricultural products and aircraft parts [7]

来源：中国人民银行 免责声明 文章封面图来源于AI，以上观点来自相关机构，不代表天天基金的观点，不对观点的准确性 和完整性做任何保证。收益率数据仅供参考，过往业绩和走势风格不预示未来表现，不构成 投资建议。转引的相关观点均来自相关机构或公开媒体渠道，不代表天天基金的观点。天天 基金不对观点的准确性和完整性做任何保证 投资者据此操作 风险自担 市场有风险 定 牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 中国人民银行授权全国银行间同业拆借中心公布，2025年10月20日贷款市场报价利率（LPR） 为：1年期LPR为3.0%，5年期以上LPR为3.5%。以上LPR在下一次发布LPR之前有效。 这是LPR自6月份以来连续5个月保持不变。 贷款市场报价利率（LPR）由各报价行按公开市场操作利率加点形成的方式报价，由全国银行 间同业拆借中心计算得出，为银行贷款提供定价参考。目前，LPR包括1年期和5年期以上两 个品种。 LPR报价行目前包括20家银行。 ↓ 点击"阅读原文" 或上天天基金APP搜索【777】 注册领500元券包 ，优选基金10元起投！ 分 ...

Core Viewpoint - The article discusses the contrasting investment strategies of value investors and trend investors, emphasizing the importance of buying undervalued stocks regardless of market trends, as exemplified by notable investors like Duan Yongping and Warren Buffett [3][4]. Group 1: Investment Strategies - Value investors, such as Duan Yongping, continue to buy stocks like Kweichow Moutai despite ongoing price declines, highlighting a long-term perspective that values intrinsic worth over market sentiment [3]. - Trend investors often wait for clearer signals before making purchases, which can lead to missed opportunities as they attempt to predict market movements [4][5]. - The article critiques the notion of "catching falling knives," suggesting that waiting for a stock to stabilize before buying may result in lost investment opportunities [3][8]. Group 2: Market Psychology - The difficulty of predicting market behavior is illustrated through game theory, where participants struggle to choose numbers based on others' choices, reflecting the unpredictable nature of market trends [4][5]. - The concept of "beauty contests" in investing is introduced, where investors focus on what others perceive as valuable rather than on fundamental analysis, leading to potential market bubbles [6][7]. - Historical examples, such as Keynes' shift from speculative strategies to value investing post-1929 crash, demonstrate the effectiveness of focusing on long-term fundamentals rather than short-term market trends [7][8]. Group 3: Investment Timing - The article argues against the necessity of waiting for the lowest market prices to invest, as this can lead to missed opportunities and income loss [8]. - Investors are encouraged to maintain a steady investment approach, regardless of market fluctuations, and to focus on the long-term performance of their portfolios [8].

第一财经 又见中小银行密集调降存款利率 原创 阅读全文 分享一篇文章。 ...