Group 1 - The upcoming week will see a total reverse repurchase maturity scale of 11,810 billion yuan, with specific maturities on each day from Monday to Friday [1] - On January 26, a press conference will be held by the State Council Information Office regarding the 2025 business work and operational situation [2] - On January 27, China will release the year-on-year profit data for large-scale industrial enterprises for December 2025 [3] Group 2 - A press conference on January 28 will introduce the high-quality development of state-owned enterprises [4] - On January 30, preliminary GDP data for Hong Kong for the fourth quarter will be published [5] - On January 31, the official manufacturing PMI data for January will be released, with December's PMI recorded at 50.1%, an increase of 0.9 percentage points from the previous month [6] Group 3 - A total of 30 companies will have their restricted shares unlocked next week, with a total market value exceeding 40 billion yuan, with January 27 being the peak unlocking date [6] - The companies with the highest unlocking market values include Haibo Shichuang (23.154 billion yuan), Fostar (5.367 billion yuan), and Yifang Biotechnology-U (4.251 billion yuan) [6] - Three new stocks will be issued next week, including Beixin Life on January 26 and Linping Development and Electronic Science and Technology Blue Sky on January 30 [6] Group 4 - The upcoming week will feature a "super earnings week" for U.S. stocks, with major tech companies like Microsoft, Meta, Tesla, Apple, and others reporting earnings [8] - The Federal Reserve is expected to announce its interest rate decision on January 30, with a low likelihood of rate cuts in the first quarter [8] - The U.S. government faces a risk of shutdown by January 31, with a 75% probability of closure due to recent political tensions [9]

Economic Indicators - The U.S. durable goods orders for November are expected to show a month-on-month increase of 3%, a significant recovery from the previous decline of -2.2% [3] - China's industrial profits for December are anticipated to decline by 13.1% year-on-year, indicating ongoing pressure on profitability in the industrial sector [3][4] - The U.S. PCE inflation data for December will be released on January 29, providing insights into price pressures in the economy [9] Major Financial Events - The upcoming week is termed "Super Earnings Week," with major tech companies like Microsoft, Meta, Tesla, and Apple set to report earnings, shifting focus from traditional financial metrics to the efficiency of AI capital expenditures [6][10] - The Federal Reserve is expected to maintain interest rates during its meeting on January 30, with Chairman Powell's comments likely to clarify the outlook for future rate cuts [7][10] - The OPEC+ monthly meeting is scheduled for February 1, where oil production policies will be discussed [17] Corporate Earnings - Key tech giants such as Tesla, Microsoft, Meta, and Apple will report earnings, with a focus on AI-related capital expenditures and hardware cycle recovery [10][11] - Storage companies like SanDisk, Western Digital, and Seagate, along with South Korean firms Samsung and SK Hynix, will also report, with market attention on the impact of AI on storage pricing and profitability [10][11] Geopolitical Events - The U.S. Treasury Secretary is expected to announce the new Federal Reserve Chairperson candidate during the week of January 26, which could influence market sentiment [12] - The EU-India summit may announce a historic trade agreement, reflecting the EU's strategic pivot in response to U.S. trade policies [12] - Political tensions and geopolitical risks, including developments in Greenland and the potential for another U.S. government shutdown, are expected to create market uncertainty [12][13] Industry Conferences - The China Academy of Information and Communications Technology will hold a seminar on space computing power on January 26, focusing on the integration of space information and intelligent computing [16] - The European Parliament will host a fusion energy conference on January 27, discussing the EU's fusion strategy [17]

Core Viewpoint - The U.S. is discussing a plan with Chevron and other oil producers to quickly restore Venezuela's oil production at a cost significantly lower than the $100 billion required for a complete overhaul [1] Group 1: Short-term Production Recovery - Major oilfield service companies like Schlumberger, Baker Hughes, and Halliburton are focusing on repairing or replacing damaged and outdated equipment, as well as refurbishing old drilling platforms [1] - With limited investment, Venezuela is expected to increase its daily oil production by several hundred thousand barrels in the short term [1] Group 2: Long-term Production Goals - The long-term goal is to fully revive Venezuela's oil industry, aiming to restore production from currently less than 1 million barrels per day to approximately 3.75 million barrels per day, the peak level of the 1970s [1] - Analysts believe that achieving this long-term target will take at least a decade, but there are many immediate opportunities for production increases [1] Group 3: Company-specific Initiatives - Halliburton aims to achieve immediate production recovery through rapid actions [1] - Chevron's Vice Chairman, Nelson, indicated plans to increase the output of joint venture projects by 50% within 18 to 24 months during a White House meeting on January 9 [1]

The United States is in talks with Chevron , other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday citing senior administration officials. ...

分组1 - The stock market is experiencing mixed results, with the Dow down 285 points, S&P slightly up by 0.03%, and NASDAQ up by 28 points, indicating a focus on fundamentals moving forward [2] - Newor, a leading steel company, pre-announced earnings that fell short of expectations, yet the stock rose by approximately 12% following a Fed rate cut and tariffs on foreign steel, suggesting a buying opportunity if the stock dips [3][4] - Boeing is expected to report earnings after a significant stock increase, with a positive outlook for a multi-year turnaround, indicating potential for continued investment [4] 分组2 - General Motors is set to report earnings, with a historical pattern of underperformance in the initial trading hours, presenting a potential buying opportunity [5] - CSX and Union Pacific are highlighted as key players in the transportation sector, with expectations for positive performance [6] - Seagate, a storage and memory chip manufacturer, has seen a 25% increase in stock value this year due to rising demand from data centers, with expectations for a strong earnings report [8] 分组3 - Starbucks is reporting earnings and will follow up with an investor day, raising questions about the sustainability of its recent stock performance, which is considered overbought [10][11] - Generova, spun out from GE, has seen its stock price rise significantly, but high expectations may lead to a better entry point for investors [12] - Corning is noted for its strong prospects in data centers, with a recommendation to wait for a price drop to buy [13] 分组4 - Microsoft and Meta have faced stock price pressures, with Microsoft affected by concerns over generative AI, while Meta's stock has fluctuated following comments from its CEO about spending [14][15] - Tesla is positioned as a company focused on autonomous driving, with expectations that its upcoming earnings report could significantly boost its stock price [16] - Service Now is anticipated to be a critical report of the week, with the CEO needing to clarify the company's position amidst a stock decline [18][19] 分组5 - Honeywell's upcoming earnings report is complicated by its plans to split into multiple businesses, which may lead to stock volatility [21][22] - Caterpillar is expected to perform well due to its role in providing backup generators for data centers, contrasting with past performance trends [24] - Apple has faced stock declines due to rising storage costs, which may impact its gross margins, but the recommendation is to hold rather than trade [25][26] 分组6 - American Express typically reports strong earnings but often sees stock declines post-reporting, presenting a buying opportunity [27] - Chevron and Exxon are highlighted for their strong cash flow and buyback programs, with Chevron favored for its consistency and potential benefits from operations in Venezuela [28]

Core Viewpoint - SLB, an American oilfield services company, is poised to rapidly expand its operations in Venezuela, contingent upon obtaining necessary permits and meeting safety and compliance requirements [1][3]. Group 1: Company Activities - SLB recently met with White House officials to discuss potential investment opportunities in Venezuela, making it the only international oil services company currently operating in the country [3]. - SLB previously generated over $1 billion in annual revenue in Venezuela more than a decade ago, with a workforce exceeding 3,000 employees at one point, and still retains facilities, equipment, and personnel infrastructure [3]. Group 2: Competitive Landscape - Competitor Halliburton has expressed intentions to re-enter the Venezuelan market once commercial and legal conditions are clarified and payment certainty is established, indicating that relevant licensing mechanisms are expected to be gradually implemented [3]. - Analysts believe that if Venezuela's energy sector reopens to foreign investment, SLB and Halliburton are the most likely beneficiaries among oil service companies [3].

Core Viewpoint - Rising energy prices are impacting American households, particularly low- and middle-income families, as natural gas prices surge and utilities approve rate hikes, contrary to political promises of cheaper energy [2][3][4]. Energy Price Trends - Natural gas prices are increasing at a historic pace, with Henry Hub futures surpassing $5 per MMBtu due to synchronized demand from homes, power plants, and industry during extreme cold [2][10][12]. - Home heating costs are projected to rise by 9.2% this season, significantly outpacing the inflation rate, with average U.S. household heating expenses expected to reach approximately $995, an increase of $84 from the previous year [4][5]. Impact on Households - The financial burden of rising energy costs is particularly severe for low- and middle-income families, leading to increased utility debt and potential shutoffs [3][4]. - Electric-heated homes are experiencing the steepest cost increases at 12.2%, while natural gas households see an 8.4% rise [5]. Market Dynamics - U.S. energy markets are influenced by global supply dynamics, weather conditions, and infrastructure limitations rather than solely by political decisions [2][6][15]. - Infrastructure bottlenecks in regions like the Northeast contribute to disproportionately higher energy costs, even when national supply appears sufficient [13][18]. Supply and Demand Factors - Despite record U.S. natural gas production, supply cannot be rapidly increased to meet sudden spikes in demand due to fixed pipeline capacity and the time required for drilling new wells [8][11]. - The connection between U.S. LNG exports and global markets means that higher export levels can tighten local supply, further driving up domestic prices [16][17]. Cost Influencers - Rising labor and maintenance costs, inflation-driven expenses, and investments in grid hardening and climate resilience are contributing to higher utility rates [19]. - The competition for natural gas supply between domestic consumers and international markets, especially during winter, exacerbates price increases [19].

与此同时，竞争对手哈里伯顿公司也表示，一旦商业和法律条件明朗、付款确定性得到解决，将寻求重 新进入委内瑞拉市场。该公司称，相关许可证机制预计将逐步到位，并已开始为委内瑞拉岗位招募工程 师和技术人员。 当地时间1月23日，记者获悉，美国油田服务商SLB公司（前称斯伦贝谢Schlumberger）表示，在获得必 要许可并满足安全与合规要求的前提下，公司可以迅速扩大在委内瑞拉的业务活动。 据悉，SLB近期与白宫官员会晤，讨论潜在的对委内瑞拉投资机会。SLB目前是唯一仍在委内瑞拉开展 实际业务的国际油服公司，为雪佛龙在其许可框架下提供服务。雪佛龙也是目前唯一在委内瑞拉生产原 油的美国大型石油公司。 （文章来源：央视新闻） SLB表示，公司十多年前在委内瑞拉的年收入峰值曾超过10亿美元，当地员工一度超过3000人，目前仍 保留设施、设备和人员基础。分析人士认为，若委内瑞拉能源领域重新对外开放，SLB和哈里伯顿将是 最有可能受益的油服企业。 ...

Core Insights - Investors with significant capital have adopted a bearish outlook on Chevron (NYSE:CVX), indicating potential insider knowledge of upcoming events [1] - The sentiment among large traders is predominantly bearish, with 67% taking bearish positions compared to 19% bullish [2] Options Activity - A total of 31 uncommon options trades for Chevron were identified, with 14 puts amounting to $983,891 and 17 calls totaling $854,455 [2] - The price range targeted by large investors for Chevron over the last three months is between $150.0 and $210.0 [3] Volume and Open Interest - The mean open interest for Chevron options trades is 2004.62, with a total volume of 4,163.00 [4] - A detailed overview of significant options trades shows a mix of bullish and bearish sentiments, with notable trades including puts and calls at various strike prices [7] Company Overview - Chevron is the second-largest oil company in the U.S., producing 3.0 million barrels of oil equivalent per day, including 7.7 million cubic feet of natural gas and 1.7 million barrels of liquids [8] - Proven reserves at the end of 2024 are estimated at 9.8 billion barrels of oil equivalent, comprising 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas [8] Market Status - The current trading volume for Chevron is 3,163,218, with the stock price at $167.28, reflecting a 0.37% increase [11] - Analysts have set an average target price of $173.6, with varying ratings and price targets from different firms, including a downward revision to Overweight by JP Morgan [10][11][12]

Core Viewpoint - The Attorney General of Michigan, Dana Nessel, has filed an antitrust lawsuit against four major oil companies, accusing them of colluding for decades to hinder competition in the renewable energy sector, including electric vehicles [1][2]. Group 1: Lawsuit Details - The defendants in the lawsuit include BP, Chevron, ExxonMobil, Shell, and the American Petroleum Institute [1][2]. - The lawsuit claims that these companies operate in a cartel-like manner, agreeing to reduce the production and distribution of renewable electricity and suppress the rise of electric vehicles and renewable energy technologies in the U.S. market [1][2].