美股周观点：英伟达“交卷”，美伊局势“搅局”

Market Performance - Emerging markets rose by 2.8% while developed markets showed no change[1] - The Dow Jones Industrial Average fell by 1.3%, the Nasdaq by 1.0%, and the S&P 500 by 0.4% during the week[1] - 58% of S&P 500 constituents saw price increases, with notable gains from companies like Nvidia and Netflix[1] Key Concerns - Nvidia's earnings report did not fully alleviate AI-related anxieties, despite exceeding expectations[1] - Market concerns persist regarding the peak of capital expenditures for large enterprises and Nvidia's profit potential[1] - Geopolitical tensions between the U.S. and Iran have escalated, impacting market risk appetite and valuations[2] Economic Outlook - Short-term indicators suggest that the U.S. stock market has not yet reached a turning point, with ongoing AI anxieties and macroeconomic pressures[2] - The likelihood of interest rate cuts may diminish due to inflation and geopolitical pressures, potentially leading to a rise in 10-year Treasury yields[2] - Uncertainty surrounding Trump's tariff policies could further complicate market conditions, with potential impacts on U.S. fiscal health[2] Upcoming Data and Events - Key economic indicators to watch include the ISM Manufacturing Index on March 2 and the ADP employment change on March 4[3] - Significant corporate earnings reports are expected from companies like JD.com and Broadcom in early March[3]