滞涨与关税双击下的美股困局

Group 1 - The report highlights the dual impact of economic stagnation expectations and tariff uncertainties on the U.S. stock market, with all three major indices declining this week [1][7][28] - Key economic indicators show rising stagnation risks, including the February core PCE price index year-on-year at +2.8% and month-on-month at +0.4%, both exceeding expectations [1][8][28] - The announcement of a 25% tariff on all imported cars by Trump, effective April 2, has negatively affected stock indices, particularly in the automotive sector, leading to lowered profit expectations [1][7][28] Group 2 - The report notes that the U.S. labor market remains resilient, with initial jobless claims for the week ending March 22 recorded at 224,000, slightly below the previous week's figure [8][9] - The manufacturing PMI for March is reported at 49.8, below both the previous and expected values, indicating potential contraction in the manufacturing sector [8][9] - The service sector PMI for March stands at 54.3, indicating expansion, and is above both previous and expected values [8][9] Group 3 - The report indicates mixed performance across global asset classes, with CBOT soybean oil showing the largest increase at +7.57%, while the Nasdaq Composite Index experienced a decline of -2.59% [28][31] - In the equity market, the consumer discretionary sector in the U.S. saw a gain of +1.36%, while the information technology sector faced the largest decline at -4.10% [36][31] - The report also highlights that the Australian dollar and Canadian dollar appreciated against the Chinese yuan, while the Japanese yen and New Zealand dollar depreciated [37][31]