美股前瞻 | 三大股指期货齐跌，美国银行业巨头联手探索稳定币发行，下周一美股休市

Market Overview - US stock index futures are all down ahead of the market opening on May 23, with Dow futures down 0.23%, S&P 500 futures down 0.23%, and Nasdaq futures down 0.30% [1] - European indices show mixed performance, with Germany's DAX down 0.06%, UK's FTSE 100 down 0.04%, France's CAC40 down 0.63%, and the Euro Stoxx 50 up 0.43% [1] Oil Market - WTI crude oil is up 0.07% at $61.24 per barrel, while Brent crude oil is up 0.12% at $64.52 per barrel [2] Banking Sector Developments - Major US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring the feasibility of jointly issuing stablecoins through Early Warning Services and Clearing House [3] - This initiative signals a deeper integration of traditional finance with the cryptocurrency sector, contingent on legislative progress and market demand [3] - The Senate is advancing the GENIUS Act, which aims to establish a comprehensive regulatory framework for stablecoin issuance, focusing on reserve management, risk control, and privacy protection [3] Corporate Earnings and Economic Concerns - A survey by HSBC indicates that over half of US companies expect tariffs to reduce their overall revenue by at least 25%, with about a quarter anticipating a revenue drop of over 50% due to tariff impacts on supply chains [4] - In contrast, Chinese companies are more optimistic, with only about a quarter expecting a revenue decline of 25% or more [4] Stock Market Predictions - Morgan Stanley predicts a rebound for US stocks in the second half of 2025, maintaining a 12-month target for the S&P 500 at 6,500 points, despite challenges in the first half [5] - UBS has raised its year-end target for the S&P 500 from 5,800 to 6,000 points, citing better-than-expected Q1 earnings and slightly improved GDP growth forecasts [6] Individual Company Performance - Ross Stores reported Q1 revenue of $5 billion and EPS of $1.47, exceeding market expectations, but lowered its Q2 EPS guidance due to tariff-related costs [8] - Miniso's Q1 revenue grew 19% year-on-year to 4.43 billion yuan, with a gross margin of 44.2%, marking the highest level for a first quarter [8]