国庆环球市场回顾：地缘政治扰动难阻美欧日股上攻，黄金破4000

Market Performance - The U.S. stock indices experienced multiple milestones during the National Day holiday, with investors downplaying concerns over the government shutdown and focusing on corporate dynamics, particularly in the artificial intelligence sector, which helped the Nasdaq challenge 23,000 points [2] - The S&P 500 companies are expected to see a year-on-year EPS growth of 7.9% for Q3, with a projected growth of 9.3% for the entire year of 2025 [2] - The Nikkei 225 index in Japan briefly surpassed 48,000 points, influenced by the new Liberal Democratic Party president's economic policies, which are reminiscent of "Abenomics" [2] European Market Insights - The UK FTSE 100 index broke through the 9,500-point mark, reaching a historical high, driven by rising metal prices and strong performance in the mining sector [3] - The DAX 30 index in Germany surpassed its July high, although investor sentiment was pressured by weak economic data, with August industrial output dropping 4.3% month-on-month, significantly worse than the 1% expected decline [3] - The French CAC 40 index returned to the 8,000-point level, but market sentiment remained cautious due to escalating political crises, including pressure on President Macron and instability in the parliament [3] Precious Metals and Commodities - International gold futures prices surpassed $4,000 per ounce for the first time, with gold prices up 53% year-to-date, driven by expectations of interest rate cuts and ongoing geopolitical uncertainties [4] - Silver prices reached $48 per ounce, marking a 14-year high, with a year-to-date increase of nearly 70%, supported by strong physical demand from the solar and electronics sectors [5] - Platinum prices exceeded $1,600 per ounce, a 12-year record, due to supply constraints and strong demand from hybrid vehicles [6] Oil Market Dynamics - International oil prices are experiencing fluctuations at four-month lows, with OPEC+ announcing a modest increase in production starting in November, amid concerns of potential oversupply [6] Key Events and Outlook - The U.S. government shutdown has delayed the release of key economic indicators, leading investors to rely on unofficial data to gauge the timing and extent of potential Fed rate cuts [7] - The political turmoil in France and Japan is being closely monitored for its impact on market stability, with significant fluctuations in bond yields and currency values observed in response to political developments [8]