一、国际新闻 今日欧美主要市场因圣诞节休市，其中美股市场休市一日，洲际交易所旗下布伦特原油期货合约及芝商 所旗下贵金属、美油、外汇、股指期货合约全天交易暂停，欧洲多数主要股市（德国、法国、英国、意 大利、西班牙等）及澳大利亚、韩国市场亦同步休市。 此前一个交易日（周三），美股提前收盘且三大股指普涨，道指涨0.6%，纳指涨0.2%，标普500指数涨 0.3%并创下盘中历史新高；个股方面，英伟达、谷歌、特斯拉微跌，苹果、微软、亚马逊、Meta、博 通微涨，耐克涨超4%，苹果公司CEO库克增持该公司股票。 同期，纳斯达克中国金龙指数收跌0.07%，中进医疗、新氧、水滴公司、中汽系统、金山云等中概股跌 幅居前。 市场消息层面，加密货币市场显示比特币升破88000美元，日内涨0.59%。 贵金属方面，现货黄金短线跌幅扩大至20美元，失守4450美元/盎司，日内跌0.79%；纽约期金失守4480 美元/盎司，日内跌0.57%；现货白银跌破71美元/盎司，日内跌0.66%，纽约期银同步失守71美元/盎司， 日内跌0.21%；钯金期货表现更弱，失守1800美元/盎司，日内跌8.07%。 公司动态方面，英伟达与人工智能芯片初创 ...

Group 1 - The revised Public Security Administration Punishment Law will take effect on January 1, 2026, and has garnered significant attention from media and the public regarding Article 136 [4][5] - The law's revision process included public consultations during its initial and second readings in August 2023 and June 2024, respectively, with specific provisions for sealing records of minor offenders [5][6] Group 2 - The law's provisions for sealing public security violation records apply to minors, covering various types of violations [5] - The law aims to address public concerns and clarify the implications of sealing records for individuals involved in minor offenses [4][5] Group 3 - The law's revisions reflect a broader trend in legal reforms aimed at balancing public safety with the rehabilitation of young offenders [5][6] - The law's implementation is expected to influence public perception and legal practices surrounding juvenile offenses in China [4][5]

Group 1 - The US government announced on the 23rd that it will impose tariffs on Chinese chips by 2027, concluding the previous Biden administration's trade investigation into Chinese chips, with no additional tariffs for at least 18 months [1] - Nvidia clarified that it is not acquiring Groq but obtaining a technology license to integrate Groq products into future offerings [2] - Intel's stock fell by 0.52% following reports that Nvidia has paused testing its 18A process technology [5] Group 2 - Nike's stock rose by 3%, with Apple CEO Tim Cook investing approximately $2.95 million to purchase 50,000 shares of Nike [6] - Denali Therapeutics saw a 38% increase, marking its largest rise in four years, due to Sanofi's $2.2 billion acquisition of Denali [7] - The US Energy Information Administration postponed the release of crude oil and natural gas inventory data to December 29 and December 30, respectively [8] Group 3 - The Baltic Dry Index achieved its best annual performance since 2016, with an 88.3% increase this year [13] - The three major US stock indices all rose, with the Dow Jones up 0.6%, the S&P 500 up 0.32% reaching new closing highs, and the Nasdaq up 0.22% [15] - WTI February crude futures closed at $58.35 per barrel, while Brent February crude futures closed at $62.24 per barrel; COMEX gold futures fell by 1.24% to $3,768.5 per ounce, and COMEX silver futures fell by 1.11% to $44.115 per ounce [16]

美东时间周三，美股因圣诞节假期提前3小时收市。美股三大指数集体收涨，均录得日线5连涨，标普500指数、道指均创历史收盘新高，热 门中概股涨跌不一；黄金白银持续走弱， 钯金重挫。 截至收盘，道指涨0.6%报48731.16点，标普500指数涨0.32%报6932.05点，纳指涨0.22%报23613.31点。 | 道琼斯 | 纳斯达克 | 标普500 | | --- | --- | --- | | 48731.16 | 23613.31 | 6932.05 | | +288.75 +0.60% | +51.47 +0.22% +22.26 +0.32% | | | 中国金龙指数 | 纳指100期货 | 标普500期货 | | 7633.83 | 25864.75 | 6980.00 | | -5.16 -0.07% | +52.50 +0.20% | +19.00 +0.27% | 大型科技股涨跌不一，科技七巨头指数小幅上涨，苹果上涨0.53%领先，英特尔下跌0.52%，英伟达跌0.32%。 现货钯金大跌超8% 国际贵金属期货涨跌不一，盘中金银短线下挫，收盘COMEX黄金期货跌幅收窄，收报4505.4美元/盎司 ...

Group 1 - The U.S. Department of Justice announced the discovery of over one million potential documents related to Jeffrey Epstein, which has delayed the release of previously scheduled documents [4] - Nvidia plans to acquire AI chip startup Groq for $20 billion, with Groq having raised over $500 million since its inception in 2016 [8] - Nike's stock rose over 4% after Apple CEO Tim Cook purchased approximately $3 million worth of Nike shares, nearly doubling his personal holdings in the company [10] Group 2 - Oil prices slightly declined, with WTI down by $0.03 to around $58 per barrel, as traders weighed geopolitical tensions and expectations of global supply surplus [12] - Reports indicate that Nvidia has halted testing of high-end chips using Intel's manufacturing process, leading to a 3.8% drop in Intel's stock price [14]

Group 1 - Apple's CEO Tim Cook purchased approximately $3 million worth of Nike stock, nearly doubling his personal holdings in the company [2] - Cook bought 50,000 shares at a price of $58.97 per share, with Nike's stock closing up 4.6% on the day of the purchase [2] - As of December 22, Cook holds about 105,000 shares of Nike [2] Group 2 - Analyst Jonathan from Baird stated that this is the largest stock purchase by a Nike board member or executive in the open market, possibly the largest in over a decade [2] - Cook's purchase is viewed as a positive signal indicating progress under CEO Elliott Hill's leadership and the success of Nike's "Win Now" initiative [2] - Nike reported a decline in quarterly profit margins just days before Cook's purchase, and efforts to repair relationships with wholesalers like Dick's Sporting Goods are ongoing [2] Group 3 - Nike's profit margins have been declining for over a year, and efforts to regain market leadership in China appear to be faltering [2] - Since the earnings report on December 18, Nike's stock has dropped nearly 13%, potentially marking the fourth consecutive year of decline [2] - Nike is one of the worst-performing stocks in the Dow Jones index [2] Group 4 - Nike board member and former Intel CEO Robert Swan also purchased approximately 8,700 shares worth about $500,000 this week [3]

全球财经媒体昨夜今晨共同关注的头条新闻主要有： 美国司法部：新发现超百万份潜在爱泼斯坦相关文件 美国司法部周三宣布，新发现超百万份可能与声名狼藉的性犯罪者爱泼斯坦相关的文件，这导致本应于 上周五公开的文件发布进程受阻。 司法部称：纽约南区联邦检察官办公室及联邦调查局（FBI）已告知司法部，他们发现了超百万份更多 可能与杰弗里·爱泼斯坦案相关的文件。 1、美国司法部：新发现超百万份潜在爱泼斯坦相关文件 2、白宫下令美军在未来至少两个月内专注于对委内瑞拉石油的"封锁" 3、英伟达拟以200亿美元收购AI芯片初创公司Groq 4、耐克周二收涨超4% 获苹果CEO库克增持 5、原油：油价微跌 市场关注地缘政治紧张和供应过剩预期 6、传英伟达叫停代工工艺测试，英特尔开盘跌3.8% 声明继续写道："我们的律师正夜以继日地审查文件，并按法律要求进行编辑以保护受害者隐私，将尽 快公开这些文件。由于材料数量庞大，该流程可能还需数周时间。" 白宫下令美军在未来至少两个月内专注于对委内瑞拉石油的"封锁" 一位美国官员周三对路透表示，白宫已下令美军在未来至少两个月内几乎完全专注于对委内瑞拉石油 的"封锁"。 "虽然军事选项仍然存在， ...

Apple CEO Tim Cook sent a powerful signal Wednesday when he spent nearly $3 million to nearly double his stake in Nike stock (NYSE: NKE), just one day after the athletic-wear company reported a devast... ...

Core Viewpoint - Topsports' total sales declined by high single digits (HSD) year-over-year (YoY) during 3QFY26, indicating ongoing challenges in the Chinese sportswear retail market, with expectations for further weakness in December [1][2] Sales Performance - Total sales for Topsports' retail and wholesale operations fell by HSD YoY in 3QFY26, continuing the trend from 2QFY26, which also saw a decline [2] - The decline in sales was anticipated following Nike's earnings report, which revealed a 17% YoY drop in revenue from Greater China [2] - Increased e-commerce contributions led to steeper retail discounts YoY, putting pressure on gross profit margin (GPM) and net profit margin (NPM) [2] Full-Year Guidance - Management expressed reduced confidence in meeting full-year guidance, with December operations showing notable deterioration, raising concerns about the potential for missing the guidance of net profit (NP) remaining flat YoY [3] - The forecast for FY26 NP is now expected to decline by 5% YoY, influenced by operating deleverage and effective cost control measures [3] Dependency on Nike - Topsports' performance turnaround is heavily reliant on Nike, which accounted for 88% of sales in 1HFY26, making Nike's recovery critical for Topsports [4] - Management indicated that Nike is working on improving its performance through more effective marketing campaigns, but challenges in channel management will take time to resolve [4] Valuation and Rating - The target price for Topsports has been lowered to HK$3.3, based on a 14x FY2027E price-to-earnings (P/E) ratio, with a HOLD rating reiterated [6] - Despite anticipated performance disappointments, the estimated FY26 dividend yield of over 9% is seen as attractive and may provide support for the share price [6]

Core Insights - Nike shareholders are eager to move past 2025, as the stock has seen a total return of negative 21% compared to the S&P 500's positive return of 18% [1] - The company's stock is currently trading 67% below its peak from November 2021 [1] Financial Performance - In Q2 2026, Nike generated $1.4 billion in revenue from its China segment, accounting for 11% of total revenue, but faced a 17% year-over-year decline in sales in that region [4][5] - Consensus analyst estimates predict a 1% increase in revenue and a 28% drop in earnings per share for fiscal 2026 [7] Strategic Initiatives - Nike is undergoing a major turnaround under CEO Elliott Hill, who has implemented a "Win Now" strategy focusing on refreshing wholesale relationships and enhancing product innovation [6] - The leadership team is expected to leverage the Nike brand to drive customer excitement and monitor consumer responses to strategic efforts in 2026 [9] Market Position - The sportswear market remains highly competitive, with Nike benefiting from a strong brand presence and high-profile athlete endorsements [8]