美停摆三周！美联储降息预期下，美股科技巨头如何改写投资逻辑？

Market Performance - The U.S. stock market experienced a significant rally on October 20, 2025, with the Dow Jones Industrial Average rising over 500 points, driven primarily by technology and financial stocks [1][3] - The earnings season exceeded expectations, particularly for S&P 500 companies, leading to upward revisions in profit forecasts [3][11] Company Highlights - Apple's stock reached an all-time high, with iPhone 17 sales surpassing those of iPhone 16 shortly after launch, prompting an upgrade from "Hold" to "Buy" by Loop Capital, raising the target price to $315 [5][3] - Amazon's stock rose by 1.6% despite a temporary service outage in AWS, as investors focused on the long-term potential of its cloud computing business [5][3] - The Philadelphia Semiconductor Index hit a record high, with Intel and Qualcomm shares increasing by 3% and 2%, respectively [7][11] Economic Indicators - The potential end of the government shutdown and upcoming CPI data release on October 24 could influence market sentiment, with expectations of a possible interest rate cut if inflation decreases [9][11] - The KBW Bank Index rose by 2.8% as regional banks reported stable credit conditions, alleviating previous concerns about their financial health [11][9] Global Market Dynamics - The Nasdaq Golden Dragon Index, which tracks Chinese stocks, increased by 2.4%, with notable gains in Alibaba (3.8%) and Netease (3.1%) [15][13] - The international oil prices saw a slight decline, with WTI crude oil dropping to over $57 per barrel, attributed to rising U.S. shale oil production and concerns over global economic slowdown [17][20] Commodity Trends - Gold prices surged to $4,376 per ounce, reaching a historical high as investors sought safe-haven assets amid a weakening dollar and strong demand from central banks [20][18] - The energy market showed contrasting trends, with oil prices declining while gold prices rose significantly [20][17] Upcoming Events - Key economic data releases, including the Federal Reserve's Beige Book and durable goods orders, will provide insights into the U.S. economy's health [24][26] - Major tech companies, including Tesla and Netflix, are set to report earnings, which will be closely monitored for insights into their performance amid ongoing price competition [26][30]