海外宏观周报：美股业绩表现亮眼-20250729

Group 1: Macro Economic Insights - As of July 28, 32% of S&P 500 companies have reported Q2 earnings, with 77% exceeding expectations, up from 73% last year[1] - 62% of companies reported both revenue and net profit exceeding expectations, compared to 48% last year[1] - Q2 revenue growth rate was 5.0% year-on-year, while net profit growth rate was 5.5%, better than last year's 3.1% for non-financial companies[1] Group 2: Market Recommendations - It is suggested to buy on dips in the U.S. stock market, as historical trends show seasonal weakness from September to November[2] - The high yield of 10-year U.S. Treasury bonds may lead to a potential pullback in Q3, but a weaker dollar could enhance S&P 500 earnings[2] Group 3: Risks and Economic Data - Risks include trade negotiations falling short of expectations and escalating tariff conflicts[3] - U.S. existing home sales slightly declined to 3.93 million units in June, falling below the 4 million mark[8] - Initial jobless claims show a slow decline, while continuing claims remain high, indicating increased difficulty in the job market[8]