下周前瞻：柳暗花明，把握三个机会

Market Overview - Global major stock indices faced pressure, primarily due to the unexpected slowdown in the US labor market and trade policy disruptions [1] - The US non-farm payrolls added only 73,000 jobs in July, the lowest monthly increase since April 2020, raising concerns about economic stagflation [1] - Major US indices saw declines: Dow Jones down 2.92%, S&P 500 down 2.36%, and Nasdaq down 2.17% [1] - European markets also weakened, with Germany's DAX down 3.27% and France's CAC40 down 3.68% [1] - Asian markets experienced declines, with Japan's Nikkei 225 down 1.58% and South Korea's composite index down 2.40% [1] Commodity Prices - Commodity prices showed mixed trends, with energy commodities performing strongly; INE crude oil rose by 3.79% [2] - Industrial metals faced pressure, with SHFE copper down 1.17% and aluminum prices also retreating [2] - Precious metals saw gains, with COMEX gold futures up 2.41% while SHFE silver fell by 4.84% [2] - The weak US employment data suppressed industrial demand expectations, while Trump's tariff policies raised supply chain concerns [2] - Global gold ETF holdings reached a historical high due to increased demand for safe-haven assets [2] Industry Performance - In the A-share market, the pharmaceutical and biotechnology sector rose by 2.95%, benefiting from favorable policies and strong growth among key drug companies [3] - The communication sector increased by 2.54%, driven by AI computing demand and accelerated 5G investments [3] - The media sector saw a 1.13% rise due to strong box office performance and the application of AI content generation technology [3] - The coal sector fell by 4.67% and non-ferrous metals by 4.62%, impacted by prior gains and weak industrial metal prices [3] - The real estate sector declined by 3.43% amid concerns over regulatory policies and industry adjustment pressures [3] Investment Focus - Short-term focus on three key areas: the artificial intelligence industry chain, innovative pharmaceuticals, and commodity supply-demand restructuring [4] - Investment strategy suggests selecting targets based on "high prosperity verification + dilemma reversal," focusing on AI computing infrastructure and innovative drug commercialization [4] - Long-term perspective indicates a likely upward trend in broad indices, with structural opportunities driven by industrial upgrades [4] - Key sectors to watch include technology (AI computing, military, innovative drugs), new consumption (smart home, health upgrades), and non-ferrous metals [4]