国元证券晨会纪要-20250703

Group 1 - The report highlights that the U.S. economy is showing mixed signals, with a surprising decrease in ADP employment numbers by 33,000 in June, indicating potential labor market weakness [4] - The report notes a significant increase in wholesale sales of new energy passenger vehicles in China, projected to grow by 29% year-on-year in June [4] - Tesla's second-quarter vehicle deliveries reached 384,000, which fell short of market expectations, suggesting potential challenges in meeting demand [4] Group 2 - The Baltic Dry Index closed at 1458.00, reflecting a decrease of 2.08%, indicating a decline in shipping rates [5] - The Nasdaq Index increased by 0.94% to close at 20,393.13, while the Dow Jones Industrial Average saw a slight decrease of 0.02% to 44,484.42 [5] - The price of ICE Brent crude oil rose by 3.04% to $69.15, suggesting a recovery in oil prices [5] Group 3 - The report indicates that the U.S. Treasury yields have seen slight increases, with the 2-year yield rising by 1.64 basis points to 3.781% and the 10-year yield increasing by 4.50 basis points to 4.279% [4] - The report mentions that the number of new A-share accounts opened in June reached 1.65 million, marking a year-on-year increase of 53%, indicating growing investor interest in the Chinese stock market [4] - The report also notes that the Hong Kong Hang Seng Index closed at 24,221.41, up by 0.62%, reflecting positive market sentiment [5]