帮主郑重：美股周四收跌，标普与纳指创盘中新高后回落 财报季和美联储才是关键

Core Insights - The recent fluctuations in the U.S. stock market, characterized by a "high and then a drop," have raised questions among long-term investors about whether this indicates a pause in the market or a buildup of momentum [1] Market Performance - On Thursday, the Dow Jones Industrial Average fell by over 243 points, a decline of 0.52%, closing at 46,358 points; the Nasdaq dropped slightly by 18 points, or 0.08%, ending at 23,024 points; the S&P 500 decreased by over 18 points, or 0.28%, closing at 6,735 points [3] - Notably, both the Nasdaq and S&P 500 reached historical highs during the session, with the Nasdaq peaking at 23,062 points and the S&P 500 at 6,754 points, indicating a strong upward movement before the late-session pullback [3] Earnings Season - The earnings season has commenced, serving as a critical window for long-term investors to assess fundamentals [3] - PepsiCo reported third-quarter earnings of $2.29 per share and revenue of $23.94 billion, both exceeding market expectations, leading to a 4.2% increase in its stock price [3] - Delta Air Lines also performed well, with a stock price increase of 4.3%, and its CEO noted a "significant improvement" in revenue outlook, positively impacting market sentiment [3] - The upcoming earnings reports from major tech companies, including Tesla, Google, Microsoft, and Meta, are crucial for determining whether the recent AI-driven market rally can be sustained [3] Federal Reserve Signals - The Federal Reserve's stance is currently mixed, with New York Fed President Williams supporting further rate cuts this year, while Governor Barr expressed caution due to uncertainties and potential inflationary pressures from tariffs [4] - The recent government shutdown has delayed the release of important economic data, contributing to market uncertainty and the observed pullback after reaching new highs [5] Investment Outlook - Long-term investors are advised to focus on the performance of tech giants' earnings and the Federal Reserve's future rate cut signals as key indicators for market direction [5] - The current market environment suggests that while there may be volatility, strong earnings from quality companies could provide a stabilizing effect [5]