可选消费W04周度趋势解析：黄金持续创新高叠加新消费板块回暖，黄金珠宝板块本周表现最优

Investment Rating - The report assigns an "Outperform" rating to multiple companies including Nike, Midea Group, JD Group, Haier Smart Home, Gree Electric, Anta Sports, and many others, indicating a positive outlook for these stocks [1]. Core Insights - The gold and jewelry sector has emerged as the top performer this week, driven by new consumer sentiment and the upcoming Spring Festival, which is expected to boost sales [4][14]. - The overall performance of various sectors shows significant fluctuations, with gold and jewelry leading the gains, while sectors like luxury goods and U.S. hotels are experiencing declines [12][15]. - The report highlights that the valuation of various sectors remains below their historical averages, suggesting potential investment opportunities [10][17]. Sector Performance Summary - Gold and Jewelry: This sector saw a weekly increase of 12.9%, with notable stock performances from Lao Pu Gold (+20.5%) and Chao Hong Ji (+12.3%) due to positive sales forecasts [6][14]. - Gambling: The gambling sector increased by 2.9%, with companies like MGM China and Galaxy Entertainment showing strong market share growth [14]. - Overseas Cosmetics: This sector rose by 2.1%, driven by E.L.F. Beauty's stock increase of 4.6% following positive earnings forecasts [14]. - Retail: The retail sector increased by 2.0%, with Wanchen Group's stock rising by 14.3% due to optimistic revenue expectations [14]. - Domestic Cosmetics: This sector saw a modest increase of 0.9%, with companies like Proya and Runben showing positive stock movements [8][14]. - Snacks: The snack sector increased by 0.6%, with Youyou Foods and Qiaqia Foods showing gains [14]. - Pet Sector: This sector experienced a slight decline of 0.4%, with Zhongchong Co. facing stock price pressures [14]. - Domestic Sportswear: This sector decreased by 1.4%, with Anta Sports experiencing a notable decline of 6.1% [14]. - U.S. Hotels: This sector fell by 1.4%, with major hotel chains like Marriott and Hilton reporting declines [15]. - Credit Cards: The credit card sector also saw a decline of 1.4%, influenced by uncertainties regarding proposed interest rate caps [15]. - Luxury Goods: This sector decreased by 1.6%, with Burberry facing significant stock price drops due to market concerns [15]. - Overseas Sportswear: This sector fell by 1.8%, with Adidas experiencing a notable drop of 8.7% due to downgrades from investment banks [16]. Valuation Analysis - The report indicates that the expected PE ratios for various sectors in 2025 are below their historical averages, suggesting potential undervaluation. For example, the expected PE for the gold and jewelry sector is 25.9, which is 49% of its historical average [10][17].