高盛指出，数据中心目前已占美国用电需求的约6%。用电需求激增，加之缺乏新增发电产能，导致13 个区域电网中已有8个的备用电力容量处于或低于临界水平，使其易受电价飙升或电力短缺影响。到 2030年，这种紧张局面可能限制数据中心的发展。这些设施承载着海量算力，其运行和冷却均需消耗大 量电力。 "有限的有效备用电力容量可能成为美国数据中心进一步发展的瓶颈。相比之下，中国电网已经拥有可 观的备用容量，我们预计这一容量将进一步扩大。"高盛分析师称。(作者/箫雨) 高盛的魏宏岑(Hongcen Wei，音译)等分析师在周四的一份研报中写道："我们预计中国的备用电力容量 将保持充足，以满足数据中心及其他行业日益增长的用电需求。" 中国目前拥有全球约四分之一的数据中心容量，可能很快就会追上市占率达44%的全球领头羊美国。 凤凰网科技讯 北京时间11月14日，据彭博社报道，高盛集团称，中国的大规模发电能力建设将使其在 数据中心扩张竞赛中比美国更具优势。这些数据中心支撑了AI的发展。 报道称，中国一直在大举建设电力设施，在可再生能源、燃煤电厂和核反应堆领域的投建规模位居世界 前列。到2030年时，中国很可能会有约400吉瓦的备用 ...

Market Overview - The US stock market experienced a significant decline, with the Dow Jones dropping nearly 800 points, marking a 1.65% decrease, while the Nasdaq fell by 2.29% [2][3] - Major companies such as Disney and Goldman Sachs led the decline, with Disney's stock dropping over 7% and Goldman Sachs nearly 4% [1][2] Economic Indicators - The market anticipates the release of the October employment report, which will not include unemployment rate data, leading to a drop in the probability of a Federal Reserve rate cut in December from 62.9% to slightly above 49% [4][5] - The government shutdown, which lasted 43 days, has been officially ended, with President Trump signing a temporary funding bill, but the economic impact is expected to be significant, with a projected GDP decline of 1.5% for Q4 [4][5] Company Performance - Disney reported mixed results for Q4, with revenues of $22.46 billion, slightly below market expectations of $22.75 billion, despite a year-over-year revenue decline [9] - Disney's direct-to-consumer segment saw an 8% revenue increase, reaching $6.25 billion, and exceeded subscriber expectations for Disney+ and Hulu [9] Financial Sector - Major banks such as JPMorgan, Goldman Sachs, and Citigroup saw declines in their stock prices, with JPMorgan down over 3% and Goldman Sachs nearly 4% [5][6] - Financial institutions are urging the Federal Reserve to take action to address liquidity issues in the short-term financing market [5] Energy Sector - The International Energy Agency (IEA) has raised its forecast for global oil supply surplus for the sixth consecutive month, predicting a surplus of approximately 4 million barrels per day by 2026 [10][11] - Oil prices showed a slight rebound after a significant drop, with WTI crude futures rising about 0.3% [10]

Market Overview - The US stock market experienced a significant decline, with the Dow Jones dropping nearly 800 points, marking a 1.65% decrease, closing at 47,457.22 points. The Nasdaq fell by 536.10 points, a 2.29% drop, ending at 22,870.36 points, while the S&P 500 decreased by 113.43 points, or 1.66%, to close at 6,737.49 points [4]. Federal Reserve and Economic Impact - The probability of a Federal Reserve interest rate cut in December has sharply decreased to slightly above 49%, down from 62.9% the previous day, indicating a significant market shift in expectations [6]. - The government shutdown, which lasted 43 days, has been officially ended, with President Trump signing a temporary funding bill. The shutdown reportedly cost the economy approximately $1.5 trillion, and the full impact will take weeks or months to assess [6][8]. Corporate Performance - Disney's stock fell over 7% following mixed results in its fourth-quarter earnings report. While profits exceeded expectations, revenue fell short, coming in at $22.46 billion, slightly below the anticipated $22.75 billion [12][13]. - Disney's direct-to-consumer segment saw an 8% year-over-year revenue increase, reaching $6.25 billion, with subscriber numbers for Disney+ and Hulu surpassing expectations [14]. - The company anticipates double-digit growth in adjusted earnings per share for the new fiscal year and plans to increase its stock buyback program to $7 billion [15]. Banking Sector - Major banks, including JPMorgan, Goldman Sachs, and Citigroup, saw declines in their stock prices, with JPMorgan down over 3% and Goldman Sachs nearly 4% [9][8]. - Financial institutions have warned that the Federal Reserve may need to take measures to address liquidity issues in the short-term financing market, potentially including increasing loan supply or directly purchasing securities [8]. Technology Sector - Tesla's stock dropped over 6%, while other major tech stocks also experienced declines, including Nvidia down over 3%, Google and Amazon nearly 3%, and Microsoft down over 1% [9][10].

Goldman Sachs on Thursday strongly backed its top lawyer, Kathy Ruemmler, a day after a congressional committee released her chummy emails with notorious sex offender Jeffrey Epstein before she joined the investment bank.Those emails feature Ruemmler, who served as White House counsel to former President Barack Obama, and Epstein exchanging thoughts about President Donald Trump, former President Bill Clinton, Facebook founder Mark Zuckerberg, and overweight highway rest stop patrons."See you at 2, I ordered ...

Core Insights - Goldman Sachs projects global oil demand to increase from 103.5 million barrels per day (mbpd) in 2024 to 113 million mbpd by 2040, indicating a growth driven by rising energy needs and challenges in low-carbon technology and infrastructure [1] Demand Growth - The anticipated growth in oil demand reflects ongoing global energy requirements, suggesting that traditional energy sources will continue to play a significant role in meeting these needs [1] Challenges in Low-Carbon Technology - The report highlights that ongoing challenges in low-carbon technology and infrastructure are contributing factors to the sustained demand for oil, indicating that the transition to alternative energy sources may not be as rapid as some forecasts suggest [1]

Core Insights - The healthcare sector is currently underperforming, trailing the S&P 500 by approximately eight percentage points in 2025 and trading at a record discount to the benchmark index [4] - The concept of a "value trap" is highlighted, where stocks appear undervalued but are priced correctly due to underlying issues [4] - Traditional views position healthcare stocks as defensive investments, but they tend to underperform during periods of economic growth, which is currently influenced by a stimulative Fed-easing cycle [7] Market Dynamics - The impact of the AI trade on healthcare stocks is significant, with a noted decline in correlation between healthcare and the Nasdaq 100, suggesting that as AI-driven gains propel the market, healthcare may continue to lag [8] - The healthcare sector's historical role as a safe haven during economic downturns contrasts with its current performance, indicating a shift in market dynamics [7]

Core Viewpoint - Goldman Sachs projects that U.S. stocks will deliver lackluster returns over the next decade due to extreme market concentration and elevated valuations [1] Group 1 - The primary reason for the expected lackluster returns is extreme market concentration [1] - Elevated valuations are identified as the second key factor impacting stock performance [1]

Core Viewpoint - Floor & Decor Holdings Inc. is expected to capture a larger market share in 2026 as housing conditions improve and industry competition eases [1] Market Outlook - Goldman Sachs upgraded Floor & Decor to Neutral from Sell, with a 12-month price forecast of $71, down from $80, citing expectations for a modestly improved U.S. housing backdrop in 2026 [2] - The bank noted that while housing turnover has not recovered since January, the backdrop appears steady and could strengthen as mortgage rates decline [3] Store Expansion and Performance - Management continues to open stores at a pace of 20 units per year, with flexibility to accelerate in 2026 if conditions improve [4] - New-store performance remains pressured, with average revenue at $11 million versus long-term targets, though improvement is expected as macro conditions normalize [9] Financial Projections - For 2025, management guided sales of $4.66-$4.71 billion, up 5%-6% year over year, with comparable store sales projected to decline by -2% to -1% [8] - Goldman forecasts revenue of $4.68 billion for 2025, $5.08 billion for 2026, and $5.68 billion for 2027, with EPS estimates of $1.87, $2.08, and $2.59 for 2025, 2026, and 2027 respectively [11] Market Share and Competitive Position - Floor & Decor is well positioned as smaller rivals struggle with tariffs and tighter economics, with expectations for market-share gains due to bankruptcies and store closures at competitors [5][8] - Competitive pricing analysis shows Floor & Decor maintains prices below industry averages across most comparable products [8] Margin Resilience - Margins remain resilient, supported by disciplined pricing, supply-chain savings, and higher-margin design services, with 2025 gross margin guidance at 43.6%-43.7% [11]

A month has gone by since the last earnings report for Goldman Sachs (GS) . Shares have added about 9.3% in that time frame, outperforming the S&P 500.But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Goldman due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.Goldman Q3 Earnings Beat Es ...

Market Overview - The U.S. stock market showed mixed results, with the Dow Jones Industrial Average reaching a new all-time high for the second consecutive day, closing up 326.86 points or 0.68% at 48,254.82 points [1] - The Nasdaq Composite fell by 61.84 points or 0.26% to close at 23,406.46 points, while the S&P 500 increased by 4.31 points or 0.06% to finish at 6,850.92 points [1] Government Shutdown - Investors are closely monitoring developments in Washington, as the federal government may reopen as early as the upcoming weekend [2] - The Senate passed a spending bill on Monday night, which is now awaiting a final vote in the House of Representatives [2] - Josh Chastant, a public portfolio manager, noted that the current focus is on overcoming the immediate challenges posed by the longest government shutdown in history [2] Financial Sector Performance - Financial stocks, including Goldman Sachs, JPMorgan Chase, and American Express, supported the Dow's strong performance, with all three reaching new historical highs [2] - The Financial Select SPDR Fund, which tracks the S&P 500 financial sector, rose by 1% [2] - Other economically sensitive stocks, such as Caterpillar, also saw gains [2] Technology Sector Insights - The artificial intelligence (AI) trading environment has continued its volatile pattern, with concerns about overvaluation in tech stocks following recent surges [3] - AMD's stock rose over 9% after reaffirming strong growth in AI-related spending, while other tech stocks like Oracle and Palantir Technologies experienced declines [3][4] - The S&P 500's eleven sectors saw six gainers and five losers, with the healthcare and financial sectors leading the gains [3] AI Market Outlook - AMD's CEO expressed optimism about the AI market, predicting that the global AI chip market could reach $1 trillion by 2030 [4] - JPMorgan's latest report indicated that the semiconductor cycle driven by AI is far from peaking, with expectations of continuation until 2027 [4] Chinese Stocks Performance - The Nasdaq Golden Dragon China Index fell by 1.46%, with several popular Chinese stocks declining, including Tencent Music and Xpeng Motors [5]