华尔街见闻早餐FM-Radio | 2025年7月26日

Market Overview - The recent rise in US stocks has raised concerns about valuation bubbles, but strong earnings and optimism regarding US trade agreements have led the S&P 500 and Nasdaq to reach record highs, with VIX closing below 15 [2] - Tesla shares increased by 3.5%, leading the tech giants, while Intel shares fell by 8.5% [2] - US Treasury yields showed mixed results, with short-term rates rising and the 10-year yield dropping by approximately 1 basis point [2] - The US dollar rose by 0.23%, despite a decline over the week, while Bitcoin experienced a drop of over 3% before rebounding [2] - Gold prices fell for three consecutive days, dropping nearly 1%, and domestic futures markets saw widespread declines, with coking coal futures dropping by 7.76% [2] Key News - The China Securities Regulatory Commission (CSRC) is committed to stabilizing the market and enhancing investment value through various measures, including promoting long-term capital and addressing risks in real estate financing [4][9] - The State Council of China has initiated measures to gradually implement free preschool education, emphasizing its importance for long-term development [9] - The US government plans to impose tariffs on Canadian softwood lumber, with current anti-dumping duties potentially increasing significantly [11] - South Korea is preparing to invest over $100 billion in exchange for tariff concessions from the US, indicating a strategic shift in trade negotiations [11] - Japan's central bank may consider raising interest rates within the year, following recent discussions on trade agreements with the US [13] Company Developments - Intel is accelerating its business restructuring by planning to spin off its networking division, which is expected to generate $5.8 billion in revenue for 2024, accounting for 11% of Intel's total sales [20] - Volkswagen reported a 29% decline in Q2 operating profit, attributing a loss of €1.3 billion to tariffs and lowering its full-year sales forecast [20] - The Chinese toy company Blokus is projected to achieve a compound annual growth rate (CAGR) of 54% in net profit from 2024 to 2027, driven by strong R&D capabilities and efficient supply chain management [16]