*美国10年期美债收益率跌破4%； *假日季开启，美国航空板块大涨超3%。 *三大股指收涨，标普收复6800点； 周三美股延续强势，科技股重拾涨势且美联储12月降息概率上升，推动投资者风险偏好，主要股指连续 四个交易日收高。 截至收盘，道琼斯工业平均指数上涨314.67点，涨幅0.67%，收于47427.12点，纳斯达克综合指数上涨 0.82%，收于23214.69点，标普500指数攀升0.69%，收于6812.61点。美股市场将于周四（感恩节）休 市，周五恢复交易并于美国东部时间下午1点提前收盘。 【热门股表现】 明星科技股涨多跌少，特斯拉、微软涨1.7%，英伟达涨1.3%，苹果涨0.2%，亚马逊跌0.2%，Meta跌 0.45，谷歌跌1.0%。 戴尔大涨5.8%，受人工智能数据中心服务器需求强劲支撑，季度业绩展望超预期。 甲骨文大涨4.0%，德意志银行认为，即使完全排除OpenAI相关收入，在2030财年，甲骨文的每股收益 （EPS）也仅将从21美元降至约17美元，自由现金流将从410亿美元降至310亿美元。基于当前约200美 元的股价，市场几乎没有为其OpenAI业务给予任何估值。 纳斯达克中国金龙指数 ...

11月26日，美股盘中拉升，纳指一度涨超1%。 市场持续关注可能影响美联储下次利率决策的催化因素。 周三公布的经济数据方面，美国上周首次失业救济人数降至21.6万低于预期。美联储周三公布的经济景 气状况褐皮书报告显示，近几周美国经济活动变化不大，但整体消费者支出进一步下滑，高端消费者例 外。 褐皮书调查报告显示，就业略有下降，价格温和上涨。 分析称，美联储官员要到12月议息会议之后才能获得10月和11月的大部分劳动力市场和通胀数据。 截至收盘，美股三大指数集体上涨，道琼斯指数涨0.67%，标普500指数涨0.69%，纳斯达克综合指数涨 0.82%。 科技股普涨，甲骨文涨超4%，AMD涨超3%，英伟达、特斯拉、奈飞、微软涨超1%。博通涨超3%，创 历史新高。 纳斯达克中国金龙指数收跌0.03%。热门中概股走势分化，哔哩哔哩、小鹏汽车跌超2%，百度跌1.3%， 拼多多涨1.58%，京东、阿里巴巴小幅上涨。 欧洲主要股指集体收涨，欧洲斯托克50指数涨近1.5%，英国富时100指数涨超0.8%，法国CAC40指数涨 0.88%，德国DAX30指数涨约1%，富时意大利MIB指数涨1.01%。 周三国际金价走高，现货黄金 ...

来源：江南都市报 中概股方面，纳斯达克中国金龙指数微跌0.03%。 热门中概股多数收升，唯品会涨2.54%，拼多多涨1.58%，京东涨0.96%，理想汽车涨0.6%，新东方涨 0.39%，阿里巴巴涨0.38%。 禾赛跌7.37%，腾讯音乐跌2.33%，小鹏汽车跌2.22%，百度跌1.31%，蔚来跌0.73%。 来源：智通财经 值班编辑：严佳成 周三（11月26日），美股高开高收，三大指数均连涨四日。 截至收盘，道琼斯指数涨0.67%，报47427.12点；标普500指数涨0.69%，报6812.61点；纳斯达克综合指 数涨0.82%，报23214.69点。 市场波动性也有所缓解，有"恐慌指数"之称的标普500波动率指数（VIX）在四天内下跌约35%，为4月 中旬以来最大跌幅。 大型科技股涨跌不一，英伟达涨1.37%，苹果涨0.21%，谷歌C跌1.04%，微软涨1.78%，亚马逊跌 0.22%，博通涨3.26%，Meta跌0.41%，特斯拉涨1.71%。 费城半导体指数涨2.76%，30只成分股全线收涨。泰瑞达涨6.98%，迈威尔科技涨5.14%，AMD涨 3.93%，阿斯麦涨3.76%，美光科技涨2.55%。 ...

1、日前，六部门联合发布《关于增强消费品供需适配性进一步促进消费的实施方案》，从拓展增量、 深挖存量、场景赋能等5方面部署19项重点任务，目标是到2027年，消费品供给结构明显优化，形成3个 万亿级消费领域和10个千亿级消费热点。11月27日，国新办举行例行吹风会，介绍增强消费品供需适配 性进一步促进消费政策措施有关情况。 2、国家卫健委11月27日就介绍基层医疗卫生服务进展成效有关情况举行发布会。 宏观经济 今日关注 公司动向 1、中金公司：正在筹划通过换股方式吸收合并东兴证券和信达证券。本次重组涉及A+H股两地上市公 司同时吸收合并两家A股上市公司，流程复杂。公司A股股票将继续停牌。 1、商务部部长王文涛与欧盟委员会贸易和经济安全委员谢夫乔维奇举行视频会谈，就安世半导体等经 贸问题深入交换意见。双方一致同意，企业是解决安世半导体问题的主体，将共同敦促安世荷兰与安世 中国尽快开展建设性沟通，找到长期解决方案，尽快恢复全球半导体产供链的畅通与稳定。双方还就中 欧出口管制等问题交换了意见。 2、广东省地方金管局等部门：印发《广东省金融支持企业开展产业链整合兼并行动方案》。探索将并 购重组、资产盘活等纳入国企考核 ...

新浪科技欧洲站站长 郝倩 发自瑞士洛桑 新浪科技日前对话洛桑国际管理发展学院IMD管理学教授、未来准备度中心主任俞昊（Howard Yu）。 对于科技领域的国际竞争，他提出，地缘政治给科技发展带来不确定性，但人工智能领域的整合正在模 糊不同行业的界限。 "硬件公司，软件公司和服务业的边界感正在快速消失，每一个公司都在自己努力，或者至少是和其他 公司一起努力，以给客户提供完整的用户体验。无论你是科技公司、家电公司还是手机公司，行业边界 正在变得模糊。"俞昊对新浪科技明确表示。 "以往旧的细分式商业模式广受推崇，比如一家公司专注于硬件，另一家则是软件，术业有专攻。但在 科技领域旧的模式行不通了。现在，新的商业模式则是关于交互界面，关于数据，关于工作流。" 洛桑国际管理发展学院IMD刚发布的《2025 年未来准备度指标（Future Readiness Indicator）》显示，在 经济政策动荡、创新周期加速、监管收紧与消费者期望不断提升的环境下，全球共有 49 家科技公司、 27 家制药企业和 41 家时尚品牌被纳入评估，检验它们在剧烈变化中的应对能力。 该指标从七大维度评估企业的长期竞争力，包括：财务基础、投 ...

Industry News - The China Insurance Industry Association issued a risk warning regarding the "Anwo Stock Insurance" business, stating that it is not an approved insurance product and that stock investment losses are not insurable. The platform's activities may involve illegal financial operations [6]. - Beijing's Internet Information Office and the Beijing Financial Regulatory Bureau launched a three-month campaign to address six types of online financial misconduct, focusing on misleading public information and illegal financial services [7]. - The Ministry of Industry and Information Technology and five other departments released a plan to enhance the adaptability of supply and demand for consumer goods, aiming for a significant optimization of the supply structure by 2027, with three trillion-level consumption sectors and ten hundred-billion-level consumption hotspots [7]. - The Ministry of Natural Resources announced breakthroughs in the efficient extraction of low-grade rare metals from coal, aluminum, copper, lead, and zinc ores, with significant improvements in recovery rates for various metals [7]. - The first hydrogen refueling station in China utilizing underground hydrogen storage technology has been operational for over 1500 days, supplying over 400 tons of hydrogen, marking a significant advancement in high-pressure underground hydrogen storage technology [8]. Company News - Dongwei Technology announced a significant increase in PCB plating equipment orders, driven by rapid growth in the PCB and memory sectors, with expected record-high order amounts this year [11]. - North University Pharmaceutical stated that related flu medications have not yet been produced or sold, and this will not impact the company's performance for a considerable time [12]. - *ST Dongtong disclosed that its annual reports from 2019 to 2022 contained false records and has received a notice of termination of listing [13]. - Debang Technology's largest shareholder, the National Big Fund, reduced its stake by 2% between September 11 and October 16, completing its reduction plan [13]. - Muxi Co., Ltd. plans to issue 40.1 million shares, with the initial strategic placement of 8.02 million shares, and the subscription date set for December 5, 2025 [15].

Group 1 - Calpers has made significant adjustments to its investment portfolio, increasing its focus on artificial intelligence and clean energy [1][2] - The pension fund established a new position in Bloom Energy, purchasing 361,883 shares valued at approximately $30.6 million, which has since appreciated to about $341 million, reflecting a 326% increase in stock price this year [1] - Calpers also initiated a position in AeroVironment, acquiring 50,332 shares valued at around $15.8 million, with the current valuation slightly above $14 million, marking an 80% increase in stock price year-to-date [1] Group 2 - Calpers has significantly increased its holdings in Oracle, adding over 250,000 shares to reach a total of 3,021,454 shares, indicating confidence in the company's long-term competitiveness amid concerns over AI infrastructure spending [2] - The pension fund expanded its investments in major tech and AI beneficiary stocks, including increased holdings in Meta, Amazon, and Alphabet [2] - Notably, Calpers raised its stake in Nvidia from 64,728,856 shares to 66,062,378 shares, solidifying its position in a leading company in the AI sector [2] Group 3 - Calpers manages over $500 billion in assets for more than 2 million members, with a total portfolio value of $592.37 billion as of November 25, further establishing its status as a key long-term investor globally [3]

Core Viewpoint - The technology sector, particularly the cryptocurrency ecosystem, is showing signs of recovery, but skepticism persists, especially regarding Microsoft Corp (NASDAQ:MSFT) due to fears of an artificial intelligence bubble bursting [1] Group 1: Market Sentiment and Trading Strategies - Microsoft Corp's stock typically presents buying opportunities during dips, but current market sentiment is cautious due to concerns about the AI bubble [1] - A specific options trade involving a bull call spread for MSFT stock indicates a potential maximum payout of over 108% if the stock reaches $500 by January 16, 2026, with a breakeven point at $497.40 [2][3][4] - The trade suggests that MSFT stock has 51 days to achieve a less than 3% increase, which is considered feasible given recent performance [4] Group 2: Analytical Approach - The analysis emphasizes the need for a rigorous methodology to navigate the complexities of the stock market, moving away from simplistic linear models [8] - Probability should be treated as a tangible concept, with the analysis focusing on price clustering and probability density to identify successful options strategies [9][12][15] - Under specific market conditions, MSFT stock shows a clustering price around $494, with a negative variance of 2.18%, making the options trade attractive given the potential payout [15]

The Dow Jones Industrial Average (^DJI) concluded Wednesday, November 26th, 2025, with a notable gain, rising 314.67 points (0.6679%) to close at 47427.12. This positive movement was largely driven by increasing investor optimism surrounding the Federal Reserve's potential for an interest rate cut in December. Market participants are placing high probabilities on such a move, fueling a broader rally across U.S. equities ahead of the Thanksgiving holiday. Despite some mixed economic data reported today, the ...

U.S. equities continued their upward trajectory in afternoon trading on Wednesday, November 26, 2025, with major indexes extending a multi-day winning streak. Investor optimism was largely buoyed by increasing expectations for a Federal Reserve interest rate cut in December, coupled with a series of dovish economic data releases. Technology stocks were particularly strong performers, driving much of the market's gains as the holiday-shortened week progressed.Afternoon Trading Overview and Major IndexesAs th ...