完整早报音频，请点击标题下方小耳机收听 【美团三季度营收 955 亿元，核心本地商业经营亏损 141 亿】 美团 11 月 28 日发布截至 2025 年 9 月 30 日的第三季度业绩公告：收入由 2024 年同期的人民币 936 亿元增长 2.0% 至人民币 955 亿元。由于外卖行业竞争持续加剧， 2025 年第三季度，美团核心本地商业分部的经营溢利同比 大幅下降，转为经营亏损人民币 141 亿元。同时，由于海外扩张，新业务分部的经营亏损同比扩大 至人民币 13 亿元。美团于第三季度的经调整 EBITDA 及经调整溢利净额分别同比下降至负人民币 148 亿元及负人民币 160 亿元。这是美团 2022 年以来首次亏损。截至 2025 年 9 月 30 日，美团 持有的现金及现金等价物和短期理财投资分别为人民币 992 亿元和人民币 421 亿元。（新京报） 【曝中国一汽入股零跑最快年内签约，朱江明曾否认公司 "被对方收购"】 11 月 28 日傍晚，财联社 援引知情人士消息称，目前中国一汽入股零跑汽车的相关工作已进入收尾阶段，双方最快将在今年年 内完成签约。知情人士透露，"根据计划，一汽方面初步入股比例 ...

We're thoughtful, along with open, thoughtful in aligning on and taking into consideration the visibility of demand and their financing capabilities. And so I think the the the ambitions large but the execution is disciplined as tech firms ramp up spending on advanced chips and data centers. Concerns are mounting that the boom is being propped up by a wave of circular deals.At the center of it all is Nvidia, the company often described as selling the shovels in today's gold rush as it strikes megadeals to i ...

来源：吴晓波频道CHANNELWU 巴菲特曾说，"永远不要投资一家你无法理解的企业"。然而在"股神时代"即将谢幕之际，巴菲特却作出 了一个违背"家规"的决定：买入谷歌股票，且是以约40倍自由现金流的高溢价。 是的，巴菲特首次买了"AI题材股"，不是OpenAI，也不是英伟达。所有投资者都在问一个问题：凭什 么是谷歌？ 回到2022年底。那时ChatGPT横空出世，谷歌的高管层拉响"红色警报"，他们不断开会，甚至还紧急召 回两位创始人。可那时的谷歌，看起来就像是一头行动迟缓、官僚主义缠身的恐龙。 它匆忙推出了聊天机器人Bard，但在演示中犯下事实性错误，公司股价大跌，市值一日蒸发上千亿美 元。接着，它整合旗下AI团队，推出多模态的Gemini1.5。 但这款被看做撒手锏的产品，也仅在科技圈掀起几小时热议，便被OpenAI随后推出的视频生成模型 Sora夺去所有声量，迅速变得无人在意。 稍显尴尬的是，正是谷歌的研究人员在2017年发表的开创性的学术论文，为这轮AI革命奠定了扎实的 理论基础。 《Attention Is A You Need》论文 提出的Transformer模型 对手嘲讽谷歌。OpenAI的CE ...

中国基金报记者 赵刚综合整理 道指涨289.30点，涨幅为0.61%，报47716.42点；纳指涨151.00点，涨幅为0.65%，报23365.69点；标普 500指数涨36.48点，涨幅为0.54%，报6849.09点。 受益于科技股的反弹，本周三大指数均实现了较大幅度的上涨。其中，道琼斯指数本周累计涨幅达 3.18%，标准普尔500指数上涨3.73%，纳斯达克指数涨幅为4.91%。 11月，道指涨0.32%，标普500指数涨0.13%，纳指跌1.51%。 高盛集团的交易部门称，虽然标普500指数11月可能以基本持平收官，但随着波动性回落、美股广度改 善以及趋势跟随策略转为买方，前路已变得明显更为清晰。 芝商所的期货与期权交易因数据中心故障而暂停，致使股票、外汇、债券以及大宗商品市场的交易中断 了数小时。据数据中心运营商赛勒斯万（CyrusOne）披露，此次故障是由芝加哥地区一座数据中心的 冷却系统问题所引发。该公司发言人表示，工程团队已重启多台冷却机，并且部署了临时冷却设备，但 并未透露恢复正常运营的具体时间。 欧洲证券交易所运营商泛欧交易所表示，其市场未受芝加哥商品交易所集团交易中断事件的影响，此次 ...

三大股指本周涨幅均超 3% 道指涨 289.30 点，涨幅为 0.61% ，报 47716.42 点；纳指涨 151.00 点，涨幅为 0.65% ，报 23365.69 点；标普 500 指数涨 36.48 点，涨幅为 0.54% ，报 6849.09 点。 受益于科技股的反弹，本周三大指数均实现了较大幅度的上涨。其中，道琼斯指数本周累计 涨幅达 3.18% ，标准普尔 500 指数上涨 3.73% ，纳斯达克指数涨幅为 4.91% 。 11 月，道指涨 0.32% ，标普 500 指数涨 0.13% ，纳指跌 1.51% 。 高盛集团的交易部门称，虽然标普 500 指数 11 月可能以基本持平收官，但随着波动性回 落、美股广度改善以及趋势跟随策略转为买方，前路已变得明显更为清晰。 中国基金报记者 赵刚 综合整理 美东时间 11 月 28 日周五，感恩节次日，美股提前三小时收盘，三大指数齐涨。 科技股普 涨，英特尔 涨超 10% ，创 9 月 18 日以来最佳单日表现。 WTI 原油连续第四个月下跌。 白银和铜齐创纪录新高。 天风国际分析师郭明錤称，英特尔预计最快 2027 年开始出货苹果入门级 M 系列处 ...

目前，美股总市值排名前十的个股分别为英伟达、苹果、谷歌A、谷歌C、微软、亚马逊、博通、 META、台积电及特斯拉。(格隆汇) 美股11月收官，周五标普500指数收涨0.54%，11月累涨0.13%；道指数收涨0.61%，11月累涨0.32%；纳 指收涨0.65%，11月累跌1.51%。其中，标普500指数、道指均录得月线7连涨，纳指则为7个月以来首次 下跌。 热门科技股中，11月份，礼来涨24.82%为连续第三个月上涨，市值稳定在1万亿美元上方；谷歌A涨 13.87%为连续第八个月上涨，博通涨9.02%为连续第八个月上涨，美光涨5.68%为连续第四个月上涨， 苹果涨3.24%为连续第六个月上涨，Meta跌0.06%为连续第四个月下跌，台积电跌2.97%，亚马逊跌 4.5%，微软跌4.8%，特斯拉跌5.78%，英伟达跌12.59%。 ...

周五（11月28日），美国股市逢感恩节次日提早三小时收盘，三大指数连续第五个交易日上涨。 截至收盘，道琼斯指数涨0.61%，报47716.42点；标普500指数涨0.54%，报6849.09点；纳斯达克综合指数涨0.65%，报23365.69点。 威廉姆斯表态后，美联储12月降息25个基点的几率大幅上升。芝商所"美联储观察"工具显示，市场预计该行12月会议上降息25个基点的概率 为86.9%。 Zacks Investment Management客户投资组合经理Brian Mulberry评论道："情绪又回到了风险偏好之中，因为市场现在有80%到85%的把握，美 联储将在几周内降息。" Sevens Report Research创始人Tom Essaye写道，"目前来看，数据支持美国经济软着陆，这也促成了感恩节前股市的持续上涨。" "然而，当前经济形势仍存在诸多未知因素，鉴于近几个月来政府数据匮乏，经济可能并不像投资者预期的那样强劲，这其中暗藏着风险。" 先前美股整体走弱部分源于市场对人工智能公司的未来盈利能力存在疑虑，科技股的回调拖累了大盘。但随着多家投行重申对该领域的信 心，美股得以重拾涨势。 热门股 ...

The Dow Jones Industrial Average (^DJI) closed higher on Friday, November 28, 2025, gaining 289.30 (0.61%) points in a shortened Black Friday trading session. Dow Futures (YM=F) also reflected positive sentiment, rising 253.00 (0.5327%). The primary narrative driving the market today was strong optimism surrounding the Black Friday shopping period and the broader holiday retail season, signaling robust consumer spending expectations. This positive outlook propelled a broad range of sectors, particularly tho ...

Market Overview - U.S. stock markets closed higher on November 28, 2025, with all three major indexes extending a multi-day rally, driven by hopes for future interest rate cuts and positive economic data [1][12] - The Dow Jones Industrial Average (DJIA) rose 0.6% to 47,427.12, the Nasdaq Composite (IXIC) increased by 0.7% to 23,214.69, and the S&P 500 (SPX) gained 0.5% to 6,812.61, marking the fifth consecutive session of increases for all three benchmarks [2] Weekly Performance - For the week, the Nasdaq surged 4.9%, the S&P 500 was up approximately 3.7%, and the Dow gained about 3.2% [3] - November was mixed; while the S&P 500 and Dow extended their winning streaks to seven months, the Nasdaq ended down 1.5%, attributed to reassessment of profitability timelines for major AI companies [3] Economic Data - Initial jobless claims decreased by 6,000 to 216,000, below the consensus estimate of 229,000, indicating a strong labor market [5] - Orders for durable goods rose by 0.5% in September, missing estimates, while non-defense capital goods orders increased by 0.9%, a key indicator for business spending [5] Upcoming Events - Market participants are monitoring the potential for another interest rate cut by the Federal Reserve next month, which is a significant driver of market optimism [4] - Kevin Hassett is a key contender for the next Fed Chairman, with an announcement expected from President Trump before Christmas, which could influence monetary policy expectations [4] Individual Stock Performance - Intel (INTC) surged 10.2%, leading the S&P 500, following speculation it could become a foundry supplier for Apple (AAPL) processors [7] - Eli Lilly (LLY) shares slipped 2.6%, giving back some recent gains despite a market cap exceeding $1 trillion due to sales of weight-loss drugs [8] - Nvidia (NVDA) shares slid 1.8% amid competitive concerns, while other tech stocks like Microsoft (MSFT) and Amazon (AMZN) saw gains of 1.3% and 1.8%, respectively [9] Sector Performance - Retailers performed well on Black Friday, with Walmart (WMT), Target (TGT), and Amazon (AMZN) finishing up roughly 1% to 2% [10] - Cryptocurrency-related stocks rose as Bitcoin moved above $90,000, with Marathon Digital Holdings (MARA), MicroStrategy (MSTR), and Coinbase Global (COIN) up by 7%, 5%, and 5%, respectively [11]

Core Insights - The AI boom has significantly benefited NVIDIA Corporation, with its shares rising 33.2% over the past year, while BigBear.ai Holdings, Inc. has seen a remarkable 181% increase in the same period, raising questions about its potential as a future leader in the AI sector [1] Group 1: BigBear.ai's Performance and Growth Potential - BigBear.ai's revenues fell 20% year-over-year to $33.1 million in Q3 2023, following an 18% decline to $32.5 million in Q2 2023, largely due to reduced federal funding [1][7] - The acquisition of Ask Sage for $250 million is expected to enhance BigBear.ai's growth, as it is a widely adopted generative AI platform used by various government agencies, supporting 100,000 users across 16,000 teams [2][3] - BigBear.ai's CEO stated that integrating Ask Sage will create a secure, integrated AI platform, which aligns with market demands [3] Group 2: Financial Position and Future Outlook - BigBear.ai ended Q3 2023 with a strong cash position of $456.6 million, providing a solid foundation for growth initiatives and potential acquisitions [4][7] - The company is maintaining its full-year sales guidance between $125 million and $140 million, with a net income of $2.5 million in Q3 2023, a significant improvement from a net loss of $15.1 million in the same period last year [5][7] - Analysts project a short-term price target for BigBear.ai stock at $6.67, indicating a potential upside of 10.8% from the last closing price, with the highest target at $8, suggesting a 32.9% upside [6] Group 3: Comparison with NVIDIA - Despite the positive outlook for BigBear.ai, it is premature to label it as the "next NVIDIA" due to its operational loss of $21.9 million in Q3 2023, which more than doubled from the previous year's loss [9] - NVIDIA has consistently shown revenue and profit growth, driven by its strong position in AI hardware and competitive advantages from its CUDA software platform [9]