Core Viewpoint - The expectation of a Federal Reserve interest rate cut has led to a strong performance in the stock market, with major U.S. indices recording five consecutive days of gains, particularly in technology stocks and commodities [1][2]. Group 1: Stock Market Performance - Major U.S. indices closed higher for the fifth consecutive trading day, with the Dow Jones up 0.61% to 47,716.42 points, the S&P 500 up 0.54% to 6,849.09 points, and the Nasdaq up 0.65% to 23,365.69 points [3]. - For the week, the Dow Jones rose 3.18%, the S&P 500 increased by 3.73%, and the Nasdaq gained 4.91%. In November, the Dow Jones saw a cumulative increase of 0.32%, the S&P 500 rose by 0.13%, while the Nasdaq fell by 1.51% [5]. Group 2: Technology Stocks - Large technology stocks generally rose, with Meta gaining over 2%, Amazon up more than 1%, and Microsoft increasing by over 1%. Intel saw a significant rise of over 10% following positive analyst predictions [5][8]. - The Philadelphia Semiconductor Index rose by 1.82%, with notable gains in semiconductor stocks such as Intel, which surged over 10%, and Micron Technology, which increased by over 2% [5]. Group 3: Intel and Apple Collaboration - Analyst Ming-Chi Kuo predicts that Intel may start shipping Apple's entry-level M-series processors as early as 2027, following a recent increase in the likelihood of Intel becoming a supplier for Apple's advanced process technology [6][9]. - Apple has reportedly signed a confidentiality agreement with Intel and is awaiting the release of the PDK 1.0/1.1 in early 2026, which will determine the timeline for production [9]. - The expected shipment volume for the standard M chips, primarily used in MacBook Air and iPad Pro, is around 20 million units for this year, with projections of 15 to 20 million units for the low-end M-series chips in 2026 and 2027 [9]. Group 4: Commodity Market Performance - The commodity market continued its upward trend, with spot gold prices rising above $4,200 per ounce, reaching a near two-week high, and spot silver prices breaking the $55 per ounce mark, setting a new historical high [1][11]. - Silver prices have increased for seven consecutive months, with spot silver closing at $56.397 per ounce, up 5.66%, and COMEX silver futures rising by 6.06% to $57.085 per ounce [11].

Group 1 - Meituan reported Q3 revenue of RMB 955 billion, a 2.0% increase from RMB 936 billion in the same period last year, but faced a significant operating loss of RMB 141 billion in its core local commerce segment due to intensified competition in the food delivery industry [4] - The adjusted EBITDA and adjusted net profit for Meituan fell to negative RMB 148 billion and negative RMB 160 billion respectively, marking the first loss since 2022 [4] - As of September 30, 2025, Meituan held cash and cash equivalents of RMB 992 billion and short-term investments of RMB 421 billion [4] Group 2 - China FAW Group is reportedly finalizing an investment in Leap Motor, with an initial stake of around 5% expected to be signed by the end of the year [5] - Baidu has initiated a new round of layoffs affecting multiple departments, with some teams facing cuts of up to 40% due to declining advertising revenue and increased competition in AI [5] - BYD is recalling nearly 89,000 Qin PLUS DM-i vehicles due to battery consistency issues that may restrict power output, posing safety risks [5] Group 3 - Taobao Flash Sale is expanding its cancellation of late delivery penalties to 60 cities by the end of the year, aiming to improve rider income and service efficiency [6] - Xiaomi's CEO Lei Jun responded to criticisms regarding the energy consumption of the Xiaomi SU7, acknowledging that the vehicle's size and configuration contribute to its performance [6] Group 4 - A major 3D printing factory is set to be established in Shenzhen by Huina Technology, which plans to deploy 15,000 3D printers by Q1 2026, making it the largest globally [8] - Huawei's Mate 80 series has launched at a competitive price, with the Mate 80 Pro Max selling out quickly and achieving a premium above the iPhone 17 Pro Max [8] Group 5 - Soul App has submitted its IPO application to the Hong Kong Stock Exchange, with Tencent holding a 49.9% stake as a strategic investor [10] - Adani Group plans to invest up to $5 billion in building AI infrastructure for Google in southern India, reflecting a significant commitment to the growing data center sector [10] Group 6 - OpenAI's data center partners are accumulating nearly $100 billion in debt related to the company, with significant loans being secured for further development [9] - Nvidia's CEO Jensen Huang emphasized the irreplaceability of Nvidia's GPUs in the AI market, asserting the company's unique position despite increasing competition [9]

今日热点导览 苹果北京直营店加入国补阵营 ST立方：可能被实施强制退市 WeChat港币钱包上线支援大埔火灾救援捐款专区 香港建造业总工会：对业界金属棚架取代竹棚架持开放态度，全面转型需超两年 国内航线燃油附加费12月5日上涨 许家印前妻丁玉梅，被冻结15亿元资产 搜狐视频计划重启美剧采购，张朝阳：大家都不做是因盗版太严重 11月28日，智通财经获悉，在"2025搜狐财经年度论坛"上，搜狐创始人、董事局主席兼首席执行官张朝 阳透露，搜狐视频计划重启美剧业务，并加大对美剧和美国电影的采购力度。在张朝阳看来，之所以很 多平台都不做美剧，是因为盗版太严重，"当我们买来正版内容，大家盗版都看过了。"他表示，尽管现 TOP3大新闻 特朗普：将无限期暂停来自所有"第三世界国家"的移民 美国总统特朗普当地时间11月27日深夜在社交平台发文称，将无限期暂停来自所有"第三世界国家"的移 民，以让美国的移民系统能够完全恢复。 当地时间11月26日下午，两名美国国民警卫队成员在距离白宫仅几个街区的地方遭到枪击并受重伤，其 中一人伤重不治身亡。经确认，嫌疑人名为拉赫马努拉·拉坎瓦尔，原籍阿富汗，与妻儿居住在华盛顿 州。美国联邦调查局 ...

美股在感恩节后首个交易日全线收涨，市场对美联储12月降息的预期依然强烈。截至收盘，道琼斯工业平均指数上涨289.30点， 涨幅0.61%，收于47716.42点，纳斯达克指数上涨0.65%，收于23365.69点，标准普尔500指数上涨0.54%，收于6849.09点。 本月，由于市场对人工智能（AI）企业未来盈利能力的疑虑升温，科技股出现回调，拖累了主要股指的月度表现。纳斯达克综 合指数11月累计下跌近2%，终结了此前连续七个月的上涨势头；得益于本周的上涨，标准普尔500指数和道琼斯工业平均指数 月度小幅走高，实现了连续七个月收涨。 从周度表现来看，道指本周累计上涨逾3%，纳指和标普500指数上涨近4%。 市场概述 扎克斯投资管理公司（Zacks Investment Management）客户投资组合经理马尔伯里（Brian Mulberry）表示："市场情绪已回归至 偏向风险偏好的状态，目前市场有80%至 85%的把握认为，再过短短几周，美联储就会实施降息。" 若美联储在12月将利率下调25个基点，这将是继9月和10月会议后，该央行连续第三次降息。自纽约联储主席威廉姆斯（John Williams）上周 ...

Market Overview - The three major U.S. stock indices closed higher, with the Dow Jones Industrial Average rising nearly 300 points, reflecting strong market sentiment towards a potential interest rate cut by the Federal Reserve in December [1][4] - The 10-year U.S. Treasury yield has rebounded, returning to 4%, indicating a shift in investor sentiment towards riskier assets [1][4] - The holiday shopping season has commenced, with Salesforce estimating online sales on Thursday to reach $8.6 billion, a 6% increase from the previous year [5] Weekly Performance - The Dow Jones increased by over 3% this week, while the Nasdaq and S&P 500 indices rose nearly 4% [2] Stock Performance - Notable tech stocks showed mixed results, with Meta up 2.2%, Amazon up 1.8%, and Microsoft up 1.3%, while Nvidia fell by 1.8% [3] - Intel surged over 10% following analyst predictions of upcoming shipments of Apple's entry-level M-series processors [3] - Oracle declined by 1.5% amid reports of plans to raise $38 billion in loans for OpenAI-related agreements [3] Commodity Performance - International oil prices experienced slight fluctuations, with WTI crude oil down 0.17% at $58.55 per barrel and Brent crude down 0.22% at $63.20 per barrel [6] - Precious metals performed well, with COMEX gold futures rising 3.40% to $4,218.30 per ounce, marking a monthly increase of 28.09%, the highest since February 2009 [6]

Core Points - xAI, a company owned by Elon Musk, has filed an antitrust lawsuit against Apple and OpenAI, claiming their exclusive partnership hinders fair competition for other AI companies in the App Store [1][3] - The lawsuit has progressed as xAI seeks crucial evidence from a Korean entity through international judicial assistance, with the court approving the request under the Hague Evidence Convention [1] - The identity of the Korean entity remains speculative, with two main theories suggesting it could be either Samsung or SK Hynix, which provide essential AI infrastructure for OpenAI, or Kakao, which has recently integrated ChatGPT into its popular app [2] Legal Proceedings - Apple and OpenAI have denied the allegations and assert that their business practices comply with antitrust laws, while the legal battle is becoming increasingly complex as evidence collection expands internationally [3] - The defendants have opted for a delay strategy, requesting an extension to submit their formal response to the lawsuit, which the court has granted, requiring them to respond by December 11 [3] - The judge, Mark Pittman, previously rejected a motion to dismiss the lawsuit, indicating the need for more substantial evidence before making a ruling [3]

Group 1 - Ukrainian President Zelensky dismissed Andriy Yermak from his position as head of the presidential office, following Yermak's resignation statement [2] - The Ministry of Industry and Information Technology held a meeting to discuss the competitive order in the power and energy storage battery industry, emphasizing the need for targeted policies to address irrational competition [2] Group 2 - U.S. stock markets closed higher for the fifth consecutive trading day, with the Nasdaq up 0.65%, the Dow Jones up 0.61%, and the S&P 500 up 0.54% [3][4] - Major tech stocks saw gains, with Intel rising over 10%, marking its largest single-day increase since September 18 [3][4] - The Nasdaq Golden Dragon China Index increased by 0.54%, with notable gains from companies like Xpeng and JD.com, while Li Auto and Alibaba saw slight declines [3][4] Group 3 - The China Securities Regulatory Commission (CSRC) is seeking public opinion on a draft announcement regarding the pilot program for commercial real estate investment trusts (REITs) to enhance the market [9] - The CSRC aims to support the development of the REITs market and improve capital market financing tools [9] Group 4 - Guizhou Moutai received approval for a share repurchase plan, intending to buy back shares worth between 1.5 billion and 3 billion yuan, with a maximum price of 1,887.63 yuan per share [16] - Meituan reported third-quarter revenue of 95.5 billion yuan, a 2% year-on-year increase, but faced a loss of 14.1 billion yuan due to intensified competition [17] Group 5 - Tianfeng Securities is under investigation by the CSRC for suspected violations related to information disclosure and illegal financing [18] - The company is cooperating with the investigation while continuing its normal business operations [18] Group 6 - The third quarter saw global DRAM sales reach $40.3 billion, a 30% quarter-on-quarter increase, with SK Hynix maintaining the largest market share at 34.1% [32] - Counterpoint Research forecasts a 3.3% year-on-year growth in global smartphone shipments for 2025, with Apple expected to become the largest smartphone brand for the first time since 2011 [33]

近日，苹果官方最新发布的优惠活动页面显示，北京地区的苹果Apple Store直营店已正式加入国家补贴行列，覆盖iPhone、iPad、Apple Watch、Mac等产 品，根据不同种类产品最高可享500元及2000元不等的优惠。 目前，国家补贴活动仅限北京及上海地区Apple Store零售店。 苹果工作人员向智通财经表示，这一次的补贴仅限苹果北京线下直营门店，线上下单购买的消费者需要到线下门店咨询工作人员相关具体流程。据其透露， 此前，今年8、9月份，苹果北京、上海地区的线下直营门店都加入了国家补贴行列。但此后不久，北京地区停止了补贴活动。 指定产品或可享国家 至高省 RMB 20( 仅限 Apple Store 零售店 (北京、上海)り｡ 请前往你附近的 Apple Store 零售店, 确认 相关页面显示，符合资格的消费者在购买参与活动的iPhone、iPad、Apple Watch时，可享商品到手价基础上再立减15%的国家补贴，每件补贴不超过500 元，但仅限于到手价不超过6000元的单件商品。目前，在最新的iPhone 17全系机型中仅有iPhone 17标准版的256GB版本满足这一条件，补贴 ...

"然而，当前经济形势仍存在诸多未知因素，鉴于近几个月来政府数据匮乏，经济可能并不像投资者预期的那样强劲，这其中暗藏着风险。" 周五（11月28日），美国股市逢感恩节次日提早三小时收盘，三大指数连续第五个交易日上涨。 截至收盘，道琼斯指数涨0.61%，报47716.42点；标普500指数涨0.54%，报6849.09点；纳斯达克综合指数涨0.65%，报23365.69点。 | 代码 | 名称 | 昌新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | .DJI | 道琼斯指数 | 47716.42 | +289.30 | 0.61% | | SPX | 标普500指数 | 6849.09 | +36.48 | 0.54% | | .IXIC | 纳斯达克综合指数 | ⊙ 23365.69 | +151.00 | 0.65% | 本周，道指在三个半交易日里累计上涨了3.18%，标普和纳指则分别累涨3.73%和4.91%。但由于前几周的不佳表现，纳指本月仍累跌 1.51%，道指和标普累涨0.32和0.13%。 股市的反弹主要始于上周五，当时纽约联储主席、美联储联邦公开 ...

中国基金报记者 赵刚综合整理 道指涨289.30点，涨幅为0.61%，报47716.42点；纳指涨151.00点，涨幅为0.65%，报23365.69点；标普 500指数涨36.48点，涨幅为0.54%，报6849.09点。 受益于科技股的反弹，本周三大指数均实现了较大幅度的上涨。其中，道琼斯指数本周累计涨幅达 3.18%，标准普尔500指数上涨3.73%，纳斯达克指数涨幅为4.91%。 11月，道指涨0.32%，标普500指数涨0.13%，纳指跌1.51%。 高盛集团的交易部门称，虽然标普500指数11月可能以基本持平收官，但随着波动性回落、美股广度改 善以及趋势跟随策略转为买方，前路已变得明显更为清晰。 芝商所的期货与期权交易因数据中心故障而暂停，致使股票、外汇、债券以及大宗商品市场的交易中断 了数小时。据数据中心运营商赛勒斯万（CyrusOne）披露，此次故障是由芝加哥地区一座数据中心的 冷却系统问题所引发。该公司发言人表示，工程团队已重启多台冷却机，并且部署了临时冷却设备，但 并未透露恢复正常运营的具体时间。 欧洲证券交易所运营商泛欧交易所表示，其市场未受芝加哥商品交易所集团交易中断事件的影响，此次 ...