Group 1 - Major companies such as Tesla (TSLA), Microsoft (MSFT), Meta Platforms (META), and Apple (AAPL) are set to report earnings in a significant week for the stock market [5] - President Donald Trump has threatened to impose 100% tariffs on Canadian goods if a trade deal with China is reached, marking a notable shift in trade policy [5] - The stock market is facing multiple challenges including a Federal Reserve meeting, a federal funding deadline, and severe winter weather [6] Group 2 - The stock market experienced fluctuations with the Dow Jones and small-cap stocks declining, while Nvidia and Amgen are nearing buy points [8] - Boeing's stock is expected to rise ahead of its Q4 results, and three data storage stocks are highlighted in the earnings spotlight [10] - Tesla has removed some safety monitors from its robotaxis, and Elon Musk has issued a warning regarding Full Self-Driving (FSD) technology [10]

Core Viewpoint - Microsoft has experienced a significant stock price decline of nearly 14% since its last earnings announcement, which may present a buying opportunity for long-term investors as the next earnings report approaches [1][2]. Company Overview - Microsoft operates across various business segments, including Office products, Xbox gaming, LinkedIn, and cloud computing through Azure, which is currently a focal point for investors [4]. - The company's AI initiatives, particularly through its Copilot product and Azure cloud services, are critical to its growth and investor interest [5]. Financial Performance - Azure has shown remarkable growth, with revenue increasing at a 40% year-over-year rate in Q1, driven by its capabilities in supporting generative AI applications [5]. - The stock's recent decline may have been a correction from an overheated valuation, and future performance will depend on the strength of the upcoming earnings report [6]. Market Position - Microsoft is currently trading at a discount compared to other major tech stocks, which could attract long-term investors looking for value [7].

韩践、郭景豪/文 2025年，从科技巨头到传统制造业，从金融行业到消费品领域，一场规模空前的裁员潮正在全球蔓延。这股裁员潮究竟是被AI"抢走了饭碗"，还是全球经济 放缓和调整的结果？当亚马逊、微软、UPS、雀巢、Verizon等跨国巨头相继传出裁员消息，背后的真正推手是什么？ 美国无疑是2025年裁员浪潮最为集中的地区。Challenger数据显示，2025年10月，美国企业宣布裁员153074人，为20多年来"最糟糕的十月"之一；截至2025 年11月底，全年累计裁员约117万人，达到2020年新冠疫情以来的最高年度水平。 但综合其经济数据来看，这波裁员并非源于经济恶化，而是由多种因素引发，如高利率带来的成本与盈利压力、劳动力市场化程度高、劳动保护相对薄弱， 以及企业在数字化与AI转型中的战略性重组需求。 Salesforce、亚马逊、IBM等公司都直接提及"AI取代部分岗位"。Challenger数据也显示，年度裁员中约5.4—5.5万人的裁员被企业在公告中明确标注为由AI/ 自动化驱动，涉及客服、后台文员、人力资源支持与部分技术岗位。从整体占比看，因AI裁员仅占美国年度裁员规模的约4%—5%。这表明，尽 ...

Core Insights - The State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) and the Schwab U.S. Broad Market ETF (SCHB) are both designed to mirror the performance of the broad U.S. stock market with minimal fees, making them suitable for core holdings in diversified portfolios [1][2] Cost and Size Comparison - Both SPTM and SCHB have an expense ratio of 0.03%, which is among the lowest in the industry [3] - As of January 25, 2026, SPTM has a 1-year return of 12.91% and SCHB has a return of 12.80% [3] - The assets under management (AUM) for SPTM is $12 billion, while SCHB has a significantly larger AUM of $38 billion [3] Performance and Risk Comparison - The maximum drawdown over 5 years for SPTM is -24.15%, while SCHB has a slightly higher drawdown of -25.40% [4] - An investment of $1,000 would grow to $1,765 in SPTM and $1,700 in SCHB over 5 years [4] Portfolio Composition - SCHB tracks the Dow Jones U.S. Broad Stock Market Index and holds 2,401 stocks, with sector allocations of 33% technology, 13% financial services, and 11% consumer cyclical [5] - SPTM follows the S&P Composite 1500 Index, providing exposure to approximately 1,510 stocks, with similar sector allocations and top holdings as SCHB [6] Implications for Investors - Both ETFs offer similar low expense ratios and dividend yields, making them comparable in terms of fees and income [7] - The top three holdings in both funds are Nvidia, Apple, and Microsoft, comprising 18.35% of SCHB's portfolio and 19.79% of SPTM's [7] - SCHB's larger AUM and number of holdings (nearly 1,000 more than SPTM) may provide greater liquidity and broader market exposure for investors [8][9]

Uttar Pradesh (UP) has emerged as the leading state in the Skilling for AI Readiness (SOAR) programme under the Ministry of Skill Development and Entrepreneurship (MSDE) with 34,830 enrolments, highlighting growing youth engagement in artificial intelligence (AI) and digital skills. Maharashtra follows with 27,009 learners, while Andhra Pradesh has registered 17,734 enrolments, pointing to widespread adoption of AI learning across regions. A total of 2,11,029 learners from across the country have signed up ...

作者丨 特约撰稿王应贵 编辑丨李莹亮 据券商中国， 美联储将在下周（1月27日至28日）召开议息会议，并将于下周四（1月29日） 公布利率决议。 目前市场普遍预期美联储将在此次会议上暂停降息。 据CME"美联储观察"， 截至目前， 美联储1月降息25个基点的概率仅有4.4%，维持利率不变的概率达95.6%。 截至1月25日22:30发稿，加密货币行情继续下挫，据CoinGlass数据统计 ，在1月24日拉升站 上90000美元后， 1月25日，比特币延续下行走势，在8.8万至9万美元区间震荡博弈， 本周内 跌幅达7.3%，年内涨幅接近归零。 比特币带动下，加密货币 几乎全线下跌 。 以太坊跌破 3000美元，跌幅近1%，BNB、狗狗币跌幅1.41%，最近24小时，全球共有近10万人被爆仓， 爆仓总金额为$1.21亿。 | | 排名 | 而秤 | 价格 | 价格(24h%) | | --- | --- | --- | --- | --- | | ಗ | 1 | ਵਿ BTC | $88344.4 | -1.38% | | ಳ | 2 | ETH | $2930.81 | -0.96% | | 87 | 3 | ...

富国银行财富与投资管理首席投资官Darrell Cronk表示："科技股已经变成了一个'用表现说话'的故事。 如果大科技公司能继续交出好成绩，我认为资金将再次流向科技板块。"下周，微软、苹果、特斯拉和 Meta将相继发布财报，这些结果将让人窥见从云计算、电子设备到软件和数字广告等行业的健康状 况。 格隆汇1月25日｜在过去三年的大部分时间里，所谓的"七巨头"——Alphabet、亚马逊、苹果、Meta、 微软、英伟达和特斯拉——一直引领股市走高。但这种态势在2025年底发生了逆转，原因是华尔街开始 怀疑这些公司为开发人工智能而投入的数千亿美元支出，以及这些投资何时才能产生回报。一个追踪七 巨头的指数在10月29日创下纪录，自那以后，七巨头中有五家公司的股价下跌并落后于标普500指数。 在此期间，唯有涨幅接近20%的Alphabet以及亚马逊维持上涨。 ...

迎来"超级财报周"，科技巨头微软、苹果、特斯拉、存储巨头三星、SK海力士等密集发布财报，AI技 术与 半导体周期成为核心看点。美联储利率决议预计按兵不动，市场关注降息窗口会否推迟；中美将 公布关键经济数据。同时，地缘政治风险、美联储主席人选和美政府可能再关门等政治事件，将持续扰 动全球避险情绪。 1月26日(周一)： 21:30 美国11月耐用品订单环比初值 中国信通院：即将召开"星算· 智联" 太空算力研讨会； 亚洲金融论坛，香港财政司司长陈茂波将出席； 天数智芯未来三代GPGPU路 线图1月26日揭晓。 1月27日(周二)： 09:30 中国12月规模以上工业企业利润 欧盟-印度峰会，或宣布贸 易协定； 波音、通用汽车公布财报。 1月28日(周三)： 07:50 日本央行公布12月货币政策会议纪要 22:45 加拿大央行政策利率 东方甄选、阿斯麦、新东方-S、希捷科技、星巴克公布财报。 1月29日(周四)： 03:00 美联储FOMC利率决策 03:30 美联储主席鲍威尔召开货币政策新闻发布会 21:30 美国1月24日当周 首次申请失业救济人数、美国12月核心PCE物价指数 英国首相1月29日到31日访 ...

Core Insights - Bill Gates warns that the impact of AI on employment will be significant within four to five years, affecting both white-collar and blue-collar jobs, and that governments are unprepared for this disruption [1][2] - Gates expresses concerns about the high valuations of AI stocks, indicating that many may not justify their prices and that the market will be hyper-competitive [3][9] Investment Landscape - The AI boom has driven stock market rallies over the past three years, but recent months have seen a slowdown due to high valuations and concerns over tech giants' spending on AI [4] - Some AI stocks are trading at extremely high valuations, with Palantir (PLTR) having a price-to-earnings ratio over 400, while Broadcom (AVGO) and AMD have seen their ratios exceed 100 [5] - OpenAI, valued at $500 billion, is not expected to turn a profit until the end of the decade, highlighting the speculative nature of some private market valuations [6] Company Performance - Major companies like Alphabet, Microsoft, and Amazon have seen accelerated growth in their cloud computing businesses due to AI demand, maintaining price-to-earnings ratios around 30 [7] - Nvidia has become a $4.5 trillion company driven by demand for its chips, with shares trading at a relatively modest 45 times earnings [7] - Despite concerns about an AI bubble, tech stocks rebounded after a dip in November, indicating investor confidence in the sector [10] Future Developments - Gates announced a $50 million partnership between the Gates Foundation and OpenAI to implement AI healthcare tools in 1,000 clinics across Africa by 2028, showcasing the potential societal benefits of AI [10]

At the same time, the dollar has fallen more than 2.7% against the Swiss franc, a sign of traders hedging against systemic instability. The dollar also fell roughly 1.8% against the yen as the Japanese currency surged through the end of the week.Over the past five days, EUR/USD, the most traded FX pair in the world, has picked up nearly 2% as the euro has strengthened against the dollar.And while the US backed off tariff threats over Greenland, and the EU suspended a package of retaliatory trade measures , ...