Goldman Sachs(US:GS) Zhi Tong Cai Jing·2025-11-26 14:04Group 1 - The recent market trends are primarily driven by the Federal Reserve's October FOMC meeting, which has fundamentally altered trading patterns [1] - Retail trading enthusiasm peaked during the week of the FOMC meeting, particularly evident in high liquidity stocks and short-term call options demand [1] - The Federal Reserve is expected to lower interest rates in December and two more times next year, with the statement that "bull markets do not end with the conclusion of a rate-cutting cycle" [1] Group 2 - Hedge funds and real money investors have shown a significant rotation from the technology sector to the healthcare sector, which may become a norm in the coming months if profit inflection points trend upwards [2] - Gold and Bitcoin have generally moved in tandem for most of the year, but recently diverged, with gold maintaining its position while Bitcoin has seen significant sell-offs [2] - The anticipated capital expenditure of large corporations reaching $614 billion by 2027 presents substantial opportunities for AI infrastructure suppliers, although there is a cautious outlook on the future market enthusiasm for this trend [2]