Hua Er Jie Jian Wen·2025-12-18 23:24Market Overview - The US CPI unexpectedly cooled, strengthening rate cut trades, and combined with Micron's earnings report, the S&P 500 rose nearly 0.8%, ending a four-day decline [2] - Major tech stocks led the gains, with Tesla up 3.45% and Micron soaring approximately 12% [2] - The US dollar initially fell but ended slightly higher, while the Chinese yuan strengthened again, approaching 7.03 after the CPI report [3] Economic Indicators - The US initial jobless claims fell to 224,000, reversing the previous surge trend [8] - The November core CPI rose 2.6% year-on-year, marking the lowest since 2021, although economists expressed concerns about potential data distortions due to government shutdowns [7][23] Central Bank Actions - The European Central Bank (ECB) maintained its interest rates for the fourth consecutive time, reiterating that inflation will return to the 2% target in the medium term, with no clear easing guidance [9] - The Bank of England adopted a hawkish stance, cutting rates by 25 basis points with a close 5-4 vote, indicating that further easing will be more challenging [10][25] Corporate Developments - Micron's CEO stated that the company has sold out its HBM capacity for 2026 and is signing unprecedented long-term contracts, indicating a structural shortage in the industry [34] - OpenAI released GPT-5.2-Codex, claiming significant improvements in software engineering and cybersecurity capabilities, and is exploring new financing options up to $100 billion [26] - Trump's media group surged over 40% after announcing plans to acquire a fusion energy company, TAE Technologies, with a valuation exceeding $6 billion [27] Industry Trends - The virtual digital human sector in China has established its first national standard, which is expected to drive significant growth in the market, projected to reach 480.6 billion yuan by 2025 [37] - The Ministry of Industry and Information Technology announced plans to strengthen capacity regulation in the photovoltaic industry, aiming for a dynamic balance of production capacity by 2026 [30] - The AI healthcare sector in China is expected to grow from 97.3 billion yuan in 2023 to 159.8 billion yuan by 2028, with significant growth in AI medical imaging and AI pharmaceuticals [41]