美股近期展现的脆弱性，是在市场结构失衡情况下，估值过高、投资者信心不足的必然结果。自今年4 月以来，美股经历了一轮迅猛上涨。推动上涨的因素来自多方面，包括全球贸易战局势缓解、美联储政 策转向宽松等，但是人工智能（AI）投资持续扩张是主要因素，AI相关股票也贡献了绝大部分涨幅。 进入10月，随着美股涨势达到空前高点，估值来到高位。一些支撑因素却迎来考验，例如市场开始忧虑 AI投资的可持续性，让美股的高估值受到打击。 受英伟达财报提振，近期低迷的美股盘后出现普涨。然而，财报带动的股市反弹，难掩市场的结构性问 题。近段时间，美股持续走弱，科技板块尤为疲软，这是在市场结构失衡情况下，估值过高、投资者信 心不足的必然结果。当整个股市需要依赖一家企业的"完美财报"来维持稳定时，说明市场已经偏离健康 轨道。 当地时间11月19日，美股上市公司英伟达公布了2026财年三季度（2025年7月28日至10月26日）财报： 营收570.1亿美元，预计四季度营收约650亿美元。两项数据均超出华尔街预期。受财报提振，近期低迷 的美股盘后出现普涨，让投资者松了一口气。然而，财报带动的股市反弹，难掩市场的结构性问题。 在财报发布前，市场情 ...

The U.S. stock market experienced a dramatic session on Thursday, November 20, 2025, as an initial rally fueled by stellar earnings from artificial intelligence (AI) chip giant Nvidia (NVDA) ultimately gave way to a sharp decline across all major indexes. Investors grappled with lingering concerns about the sustainability of the AI-driven market surge and the Federal Reserve's future interest rate policy, leading to significant volatility throughout the trading day.Major Market Indexes See Steep LossesAfter ...

The S&P 500 needs to stay above 6,500 — or all bets are off. ...

PenderFund Capital Management首席投资官Greg Taylor： 来源：环球市场播报 处于人工智能竞争核心地位的芯片制造商发布的业绩令人惊艳。就业报告证实美国经济依然稳健。全球 最大零售商的季度财报表明消费者仍在支出。 尽管种种迹象表明美股将迎来风险偏好升温的一日，但交易大厅的乐观情绪并未持续太久。标普500指 数在开盘一小时后一度上涨1.9%，但随后抹去涨幅，到下午1点下跌1.1%，创下自4月市场动荡以来最 大反转，市值蒸发超过2万亿美元。VIX指数升破28。 关于此次股市走势反转的原因众说纷纭。一些交易员指出，人们再度担忧人工智能能否带来足够的收入 或利润以支撑对该技术的巨额投入。一些人认为比特币自4月以来首次跌破87，000美元是导致股市暴跌 的部分原因。一些股票交易员则表示，他们担心股票估值过高，以及临近周五期权到期日，市场波动性 可能会加剧。 以下是华尔街分析师、策略师和交易员对周四股市剧烈波动的看法： 海纳国际集团衍生品策略联席主管Chris Murphy： "随着英伟达财报尘埃落定，而美联储12月降息的可能性不大，投资者开始质疑还有什么因素能推动年 底上涨。据说商品交 ...

Joining me now, Dan Ies, managing director and senior equity research analyst at Wedbush Securities. Dan, always a pleasure. Thanks so much for joining us.>> Great to be here. Thank you. >> All right, Dan, break it down for us.We've seen Nvidia's numbers. We've seen the stock reaction. What is it that we need to know about what Nvidia had to say.Give us the highlights. I mean, look how I think those are as good numbers as you're going to get relative to half a trillion dollars that they have in terms of Reu ...

Jarring swings keep rocking Wall Street, and U.S. stocks erased a big morning gain to drop on Thursday as the market remains skittish following weeks of doubts and erratic moves.After initially soaring toward what seemed like its best day since May, with an early surge of 1.9%, the S&P 500 erased all of it and fell 1.6%. The Dow Jones Industrial Average dropped 386 points, or 0.8%, and the Nasdaq composite sank 2.2%.In Canada, the main S&P/TSX composite index fell more than 370 points, weighed down by loss ...

Hello everyone. I've got a very special treat for you guys today. Sitting down with Phil Rosen, the co-founder and editor-inchief of Opening Bell Daily. In this conversation, Phil brings a bunch of really interesting data and also beautiful charts that explain exactly what's happening in financial markets and what it means for your portfolio. We're live today from the desk of Anthony Pompiano. Before we get into today's conversation with Phil, I need your help. My goal is to get to 1 million subscribers on ...

美股周四收盘，道指收跌0.84%，标普500指数跌1.55%，纳斯达克综合指数跌2.15%。英伟达(NVDA.O) 跌3.1%，盘中一度上涨5%，美光科技(MU.O)跌超10%，甲骨文(ORCL.N)跌超6%。纳斯达克中国金龙 指数跌3.2%，蔚来汽车(NIO.N)跌6%，小鹏汽车(XPEV.N)跌5%。 来源：第一财经 ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld, taking you through to that closing bell with the global simulcast. Carol Massar, Tim Stenovec joining us from the radio booth as we bring together our audiences across all of our Bloomberg platforms, including our partnership with YouTube here, and what's shaping up to be the widest trading session for the S&P and the Nasdaq since those Liberation Day moments that we had back in April.A big downdra ...

Market Overview - The trading session for the S&P 500 and Nasdaq is experiencing significant volatility, with the S&P 500 showing its widest trading range since April [1][6] - The S&P 500 is down approximately 100 points or about 1.5%, while the Nasdaq has decreased nearly 500 points or 2.2% [6] Company Performance - Nvidia's stock initially rose by about 5% following strong revenue forecasts but later fell close to 3% due to concerns over inventory buildup and accounts receivable [5][17] - Wal-Mart is the top gainer in the S&P 500, up 6.5%, as it raises its full-year sales and profit outlook, benefiting from strong e-commerce performance and a diverse product range [11][12] - Regeneron shares increased by nearly 5% after FDA approval for a higher dose of its drug EYLEA, indicating positive market reception [13][14] - Ross Stores reported a 10% year-over-year sales increase, with earnings per share beating estimates at $1.58 compared to the expected $1.40 [9] Earnings Reports - A company reported an adjusted EPS of $3.34, exceeding the estimate of $3.09, with net revenue for the quarter at $9 billion, also above expectations [7][8] - Ross Stores anticipates second-quarter revenue to be between $4 billion and $5 billion, indicating a positive outlook [10] Industry Trends - There is a notable shift in focus among analysts from public companies to private markets, driven by the impact of artificial intelligence on public company fortunes [28][29] - Companies are increasingly interested in understanding private firms either for investment opportunities or to assess potential threats to their investments [29][30]