Di Yi Cai Jing·2025-07-31 01:40Group 1: Economic Overview - The US GDP for Q2 grew by 3%, surpassing the market expectation of 2.4%, rebounding from a 0.5% decline in Q1 [2] - The growth was primarily driven by a decrease in imports, with domestic demand only slightly increasing [2] - The latest ADP report indicated that private sector employment increased by 104,000 in July, exceeding the forecast of 75,000 [2] Group 2: Federal Reserve and Interest Rates - The Federal Reserve maintained the federal funds rate, aligning with market expectations, while Chairman Powell stated that a decision on a rate cut in September has not yet been made [2][3] - Following the Fed's statement, market expectations for a rate cut in September rose to approximately 68%, but fell below 50% after Powell's comments [3] Group 3: Company Earnings - Meta reported Q2 revenue of $47.52 billion, exceeding the market expectation of $44.83 billion, with ad revenue of $46.5 billion also surpassing expectations [4] - Meta's Reality Labs division reported a loss of $4.5 billion, better than the anticipated loss of $4.8 billion, and EPS was $7.14, above the expected $5.89 [4] - Microsoft posted Q2 revenue of $76.44 billion, an 18% year-over-year increase, exceeding the forecast of $73.89 billion, with EPS of $3.65, up 24% [5] Group 4: Future Projections - Meta expects total revenue for Q3 to be between $47.5 billion and $50.5 billion, with analyst estimates averaging $46.17 billion [5] - Microsoft anticipates a significant increase in total spending and capital expenditures in 2026, primarily due to rising infrastructure costs and ongoing investments in AI [5] Group 5: Market Reactions - Following the positive earnings report, Meta's stock rose over 11% in after-hours trading [5] - Microsoft's stock increased by over 7% after the earnings announcement, potentially placing it in the $4 trillion market cap club alongside Nvidia [6]