JPMorgan Chase & Co. (NYSE:JPM) will release earnings results for the fourth quarter, before the opening bell on Tuesday, Jan. 13, 2025.Analysts expect the bank to report quarterly earnings at $5.01 per share, up from $4.81 per share in the year-ago period. The consensus estimate for JPMorgan’s quarterly revenue is $46.25 billion, up from $42.77 billion a year earlier, according to data from Benzinga Pro.Apple Inc. (NASDAQ:AAPL) has chosen JPMorgan as the new issuer of the Apple Card, ending Goldman Sachs’ ...

Core Viewpoint - Global investors are preparing for a highly volatile "Super Friday," with significant events that could reshape short-term pricing logic in the bond, stock, and commodity markets [1]. Economic Data - The U.S. non-farm payroll report for December will be released at 21:30 Beijing time, serving as a crucial reference for assessing economic health and influencing the Federal Reserve's interest rate decisions [1][3]. - Economists predict a job increase of 70,000 in December, with the unemployment rate expected to drop from 4.6% to 4.5% [6]. Federal Reserve Policy - The non-farm payroll data is viewed as a "deciding hammer" for the Fed's policy, with a weak report potentially increasing the likelihood of a rate cut in January to 50% [6]. - Current market pricing indicates only a 10% chance of a rate cut this month, with the next expected in June [6]. Supreme Court Ruling - The market is closely watching the Supreme Court's decision on the legality of Trump’s tariffs, which could have a binary effect on the stock and bond markets [7]. - If tariffs are overturned, the S&P 500 could rise by 0.75%-1%, while maintaining tariffs could lead to a decline of 30-50 basis points [7][8]. Commodity Market Dynamics - The commodity market is facing a "double storm" with the upcoming results of the "232 clause" tariff investigation and significant index rebalancing trades [2][10]. - The annual rebalancing of the Bloomberg Commodity Index has begun, with an expected influx of approximately $7.7 billion in silver sell orders, equating to 13% of total COMEX silver open interest [12]. Market Reactions - Analysts warn that the combination of tariff rulings and commodity market adjustments could lead to extreme volatility, particularly in precious metals like palladium and silver [10][12]. - The potential for a liquidity vacuum could trigger severe repricing in the market, with differing views on whether prices will continue to rise or face significant downward risks once liquidity improves [12][13].

Major financial institutions, including JPMorgan and Visa, are increasingly turning to for real-world money settlements. In December 2025, Visa launched its USDC settlement program in the United States, enabling U.S. banks to settle obligations using Circle’s USDC stablecoin directly on the Solana blockchain. Early participants such as Cross River Bank and Lead Bank helped the program reach more than $3.5 billion in annualized settlement volume by late 2025, with Visa planning a wider rollout to additional ...

Core Viewpoint - Goldman Sachs predicts that the MSCI China Index and the CSI 300 Index will rise by 20% and 12% respectively by 2026 [6] Group 1: Market Performance - On January 9, 2026, the Shanghai Composite Index broke through the 4100-point mark, marking a significant milestone not seen in ten years [3] - The Shanghai Composite Index achieved a fifteen-day consecutive rise, reaching a high of 4095.33 points, up 0.30% on January 9 [3] - The market showed strong trading activity with a half-day turnover exceeding 2 trillion yuan [3] Group 2: Factors Driving Market Growth - The recent rise in A-shares is attributed to a combination of positive factors, including high liquidity, favorable policy expectations, and investor sentiment [4] - The liquidity outlook improved due to anticipated interest rate cuts by the Federal Reserve and a dual easing monetary policy set by the domestic central economic work conference [4] - The central economic work conference emphasized expanding domestic demand and technological innovation as key focuses for 2026, providing structural investment opportunities [4] Group 3: Institutional Outlook - Citic Securities forecasts a continued bull market in 2026, driven by policy shifts and improved liquidity, alongside a focus on technology sector growth [5] - The investment community is optimistic about the Chinese market, with Goldman Sachs maintaining an overweight rating on A-shares and H-shares [6] - Morgan Stanley also raised its rating on the Chinese market to "overweight," citing reasonable valuations and light positioning by international investors [6] Group 4: Earnings Growth Expectations - Goldman Sachs anticipates that corporate earnings in China will grow by 14% and 12% in 2026 and 2027 respectively, with overseas revenue growth contributing to performance [6] - UBS projects that the overall A-share earnings growth rate will increase from 6% in 2025 to 8% in 2026, driven by GDP growth and supportive policies [7]

智通财经1月9日讯（编辑 潇湘）2026年全球市场开局强劲。但投资者可能会在本周五面临今年第一个 真正的考验——美国劳工部将于北京时间今晚21点半公布12月就业数据。而在同一天，美国最高法院还 将就美国总统特朗普大部分关税的合法性做出最终裁决。 期权市场的交易员们目前正严阵以待，准备迎接可能是今年迄今为止波动性最大的一个交易日——标普 500指数预计将出现大幅波动。根据盈透证券首席市场策略师Steve Sosnick的说法，以周五到期的平值 合约的定价估算，标普500指数周五预计将出现上下至少0.9%的波动。 Sosnick还质疑投资者是否已足够谨慎。他在一则评论中表示，"相对平静的市场意味着仍有一些意外发 生的可能性。" 非农前瞻：两个多月来最"靠谱"的美国就业数据要来了？ 今晚这份非农报告之所以备受瞩目，在一定程度上或许是因为在不少业内人士看来，这或许是美国政府 去年10月经历史上最长停摆以来所出炉的"第一份相对靠谱的就业数据"。这也令这份报告的重要性不言 而喻——今晚数据要么会巩固市场对美联储本月维持利率不变的预期，要么会增强市场对美联储可能连 续第四次降息的看法…… Natixis北美美国利率策略主管 ...

Market Overview - The US stock market showed mixed results, with the Dow Jones Industrial Average rising by 270.03 points, or 0.55%, closing at 49,266.11 points. In contrast, the Nasdaq fell by 104.25 points, or 0.44%, ending at 23,480.02 points, while the S&P 500 index saw a slight increase of 0.53 points, or 0.01%, to close at 6,921.46 points [4][5]. Economic Outlook - Fitch Ratings has raised its GDP growth forecast for the US for 2025 and 2026, adjusting estimates due to delayed economic data from the government shutdown at the end of last year. The Federal Reserve is expected to lower the federal funds rate to 3.25% in the first half of 2026 [6]. - US Treasury Secretary Becerra indicated that most models suggest the Fed's interest rate range may fall between 2.5% and 3.25%, emphasizing that rates remain significantly above neutral levels [7]. Inflation and Employment - A monthly survey from the New York Federal Reserve revealed an increase in US inflation expectations for December, while consumer confidence in the job market has dropped to its lowest level in over 12.5 years [8]. Energy Sector - Oil prices increased, with WTI crude for February rising by 3.2% to settle at $57.76 per barrel, and Brent crude for March up by 3.4% to $61.99 per barrel. Energy stocks saw a broad increase, with ExxonMobil rising over 3%, Chevron up more than 2%, and ConocoPhillips increasing by over 5% [10][11]. Mining Industry - Glencore and Rio Tinto have resumed negotiations to potentially create the world's largest mining company, with a combined market value exceeding $260 billion. This merger is taking place against a backdrop of increasing competition for copper resources [14]. Technology Sector - The performance of major tech stocks was mixed, with the US Tech Giants Index declining by 0.27%. Notable movements included Amazon rising nearly 2% and Google increasing over 1%, while Apple fell by 0.5%, marking its seventh consecutive day of decline due to high interest rate expectations impacting growth stock valuations [16][18].

Group 1 - Two major energy state-owned enterprises, China Petroleum & Chemical Corporation and China Aviation Oil Group, announced a merger approved by the State Council, aiming to leverage advantages in refining integration and aviation fuel supply systems to reduce costs and promote high-quality development of the industry [1] - Vanke A announced that Yu Liang, a representative figure in the real estate sector, has retired after 35 years with the company, holding 739,490 shares valued at over 36 million yuan as of January 8 [1] - Gold has officially surpassed U.S. Treasury bonds for the first time in 30 years, becoming the largest reserve asset globally, with a value of $3.93 trillion compared to $3.88 trillion for U.S. Treasury bonds [1] Group 2 - The Ministry of Commerce held a press conference addressing recent hot topics, including the evaluation of Meta's $2 billion acquisition of AI platform Manus, which must comply with Chinese laws and regulations [2] - The Ministry of Finance expressed confidence in China's economic stability and invited the London Stock Exchange Group to deepen cooperation [2] - The U.S. government is pushing a bill to strengthen sanctions against Russia, which may affect countries like China, India, and Brazil in purchasing cheap Russian oil [2] Group 3 - Guangzhou has introduced a plan to build a strong advanced manufacturing city, focusing on five strategic industries including AI, semiconductors, and new energy [3] - The A-share market saw a slight decline, with the Shanghai Composite Index down 0.07% and the Shenzhen Component Index down 0.51%, while the total market turnover reached 2.83 trillion yuan [3] - The Hong Kong stock market experienced a drop, with the Hang Seng Index down 1.17%, while the "first global large model stock" Zhiyuan surged over 13% on its debut [3] Group 4 - The margin financing balance in the A-share market reached a historical high of 2.6047 trillion yuan, marking a significant increase of approximately 248 billion yuan in a single day [4] - Ping An Life announced its fourth stake increase in China Merchants Bank H-shares, holding 20% of the total share capital [4] - HSBC and Hang Seng Bank announced the approval of HSBC's proposal to privatize Hang Seng Bank, with shares expected to be delisted on January 27 [4] Group 5 - Bawang Tea Princess is considering an IPO in Hong Kong, with preliminary discussions with investment banks for a potential fundraising of several hundred million dollars [5] - Major announcements from listed companies include Vanke A's announcement of Yu Liang's resignation due to retirement and Industrial Fulian's semi-annual dividend distribution of 6.55 billion yuan [6] Group 6 - The market regulatory authority has warned major polysilicon companies against monopolistic practices, emphasizing the need for compliance in capacity management and pricing [7] - The Ministry of Industry and Information Technology held a meeting addressing irrational competition in the battery industry, calling for better capacity management [7] - The Chinese automotive market is experiencing a promotional wave at the start of the year, with several companies offering discounts to counteract the impact of new taxes on electric vehicles [7]

| 股份代號: | 01801 | | --- | --- | | 上市法國名稱: | 信建生物製藥 | | 日期(日 / 月 / 年): | 09/12/2025 - 09/01/2026 | | 豪格序號 | 大股東/董事/最高行政人員名稱 作出披露的 買入 / 賣出或涉及的股 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的 | | --- | --- | --- | --- | --- | | | 分野信 | | | ( 謂參閱工処 註解 ) 月 反宗 催版 ( | | | | | | 份自分厨 | | | | | | 9/0 | | CS20260107E00514 | JPMorgan Chase & Co. 3,173,036(L) | 1001(L) | HKD 78.4477 | 88.957.269(L) 5.16(L)02/01/2026 | | | | | | 10,589,119(S) 0.61(S) | | | | | | 69,463,021(P) 4.03(P) | 格隆汇1月9日丨根据联交所最新权益披露资料显示，2026年1月2日，信达生物(01801.H ...

JPMorgan analysts say the recent crypto sell-off may be nearing its end, with inflows and outflows in Bitcoin ETFs starting to even out. Bitcoin is trading around $90,944 (up 2.6% over the past week), while Ethereum is near $3,100 (up over 3%), showing continued pressure but no signs of panic. That’s important because the late-2025 drop was driven by investors pulling back on exposure, not by anything breaking under the surface. That difference shapes what happens next. When the selling slows because in ...

Group 1 - JPMorgan Chase & Co. increased its stake in China Tower Corporation (00788.HK) by purchasing 9.135 million shares at an average price of HKD 11.6014 per share, totaling approximately HKD 106 million [1] - Following the acquisition, JPMorgan's total holdings in China Tower reached 282,451,090 shares, raising its ownership percentage from 5.85% to 6.05% [1]