华尔街见闻早餐FM-Radio | 2025年8月8日

Market Overview - The 30-year U.S. Treasury auction was disappointing, leading to a rise in long-term Treasury yields, which pressured U.S. stocks [2] - The Nasdaq index managed to close up, boosted by the appointment of the dovish Stephen Miran to the Federal Reserve [2] - Apple shares rose by 3%, nearly recovering all losses since April 2 [2] - Eli Lilly's stock plummeted by 14% following its earnings report [2] - Bitcoin increased by 2% and Ethereum by 5% after Trump signed an executive order allowing 401K accounts to invest in cryptocurrencies [2] Key Economic Indicators - China's July exports in U.S. dollars grew by 7.2% year-on-year, while imports increased by 4.1% [4][10] - High-tech product imports and exports rose by 8.4% in the first seven months [4][10] - China's foreign exchange reserves decreased by 0.76% month-on-month in July, while the central bank has increased gold holdings for nine consecutive months [10] - The U.S. consumer inflation expectations rose to 3.1% for the next year, indicating a potential shift in the economic outlook [19] Company Performance - Semiconductor companies showed mixed results: - SMIC reported a 16.2% year-on-year increase in Q2 sales but a 19% decline in net profit [5][14] - Hua Hong Semiconductor's Q2 revenue grew by 18.3%, with a significant increase in capacity utilization [15] - Eli Lilly's Q2 revenue surged by 38% to $15.56 billion, but the stock fell 14% due to disappointing results from its oral weight-loss drug [16] - OpenAI launched its latest model, GPT-5, which is now available for free, marking a significant advancement towards AGI [4][10] Industry Trends - The AI sector is experiencing intense competition for talent, with major companies like Apple losing key personnel to competitors like OpenAI and Meta [21] - The zero-hour economy is reshaping employment, with companies like Uber and Airbnb reporting significant increases in free cash flow [22] - The semiconductor industry is under scrutiny due to potential tariffs, with companies like Intel facing pressure from the Trump administration [21]