华尔街见闻早餐FM-Radio | 2025年10月22日

Market Overview - US stock market showed mixed results, with the Dow Jones reaching a new high driven by corporate earnings, while tech and small-cap stocks faced pressure due to trade uncertainties, leading to a decline in the Nasdaq [3] - Apple saw a three-day rise, hitting a new high before a slight retreat, closing up 0.2%. General Motors surged 14.8% post-earnings, and Coca-Cola rose 4%. Meme stock Beyond Meat skyrocketed 146%, accumulating a three-day gain of approximately 600% [3] - Gold and silver experienced significant declines, with gold dropping over 5.7%, marking its largest single-day drop since 2013, and silver falling nearly 8% [3] - Crude oil prices rose over 1.2% due to the Trump administration's commitment to purchase 1 million barrels of strategic oil reserves [3] Key Corporate Earnings - Pop Mart reported a Q3 revenue increase of 245%-250% year-on-year, with overseas revenue growing by 365%-370% [7] - Netflix's Q3 earnings fell short of expectations due to tax issues in Brazil, leading to a downward revision of its full-year guidance, with shares dropping 7% in after-hours trading [8] - L'Oréal's Q3 sales also missed expectations, with a notable recovery in high-end demand in China but disappointing performance in North America, causing a significant drop in stock price [9] - General Motors' Q3 adjusted EBIT was $3.4 billion, down 18% year-on-year but exceeding analyst expectations, leading to a pre-market stock increase of over 9% [31] Industry Insights - The zinc market is experiencing a "short squeeze," with available inventory dropping to less than one day's demand, causing spot premiums to soar to their highest levels since 1997 [18] - OpenAI launched the AI browser ChatGPT Atlas, prompting a decline in Google's stock [19] - Samsung reported positive progress in its 2nm chip yield, raising its year-end target from 50% to 70% [20] - The AI storage chip market is entering a strong upward cycle due to surging demand and supply constraints, with DRAM inventory dropping to below two weeks [30] Macro Trends - The US banking sector is facing challenges, with regional banks like Western Alliance Bancorp reporting a 27% year-on-year profit increase, alleviating some investor concerns [22] - The Japanese stock market reached new highs following the election of Fumio Kishida as the first female Prime Minister, although investors are cautious about the sustainability of this rally [26] - The digital currency landscape is evolving, with discussions around its strategic military functions in modern warfare [34]