标普500指数逾100个交易日未出现5%回调

Core Viewpoint - The U.S. stock market is experiencing a one-way upward trend, with the S&P 500 index not having a 5% pullback for 114 consecutive trading days [1] Market Performance - As of the report, S&P 500 and Nasdaq 100 futures are both up by 0.3%, potentially setting a record for the longest consecutive gains since July [1] Economic Indicators - The upcoming non-farm payroll report is expected to be impacted by the U.S. government shutdown, which may help to suppress market volatility [1] - Current labor market conditions may not be as weak as suggested by this week's ADP employment data [1] Investment Strategies - A suggested investment strategy in response to the AI boom is the "barbell strategy," which combines undervalued cyclical assets with overvalued tech assets to balance extreme valuation differences [1] Market Drivers - Positive market sentiment is driven by developments such as Global Infrastructure Partners negotiating to acquire Aligned Data Centers and OpenAI announcing new collaboration projects [1] - According to PitchBook data, venture capital firms have invested $192.7 billion in AI startups this year, setting a global record [1]