美股小幅反弹，金价创新高

Market Overview - After a week of cooling AI-related transactions and market pressure, US stocks experienced a mild rebound on Monday, with the S&P 500 index rising 0.26% to 6661.21 points, the Nasdaq Composite increasing by 0.48% to 22591.15 points, and the Dow Jones Industrial Average gaining 68.78 points, or 0.15%, to close at 46316.07 points [1][2]. AI Sector Performance - Following concerns about the investment outlook for AI infrastructure, AI concept stocks rebounded on Monday, with Nvidia rising approximately 2%. Despite worries about energy supply bottlenecks in its collaboration with OpenAI, funds flowed back into this AI leader. Other related stocks also performed well, with AMD increasing over 1% and Micron soaring more than 4% [4]. - Barclays' US equity strategy head noted that the AI capital expenditure boom shows no signs of slowing, benefiting not only tech companies but also other industries. AI is becoming a core driver of global growth, and despite the need for caution regarding sector concentration, the S&P 500 maintains a relative advantage due to its high tech stock weight [4]. M&A Activity - Individual stock-level merger and acquisition news also boosted market sentiment, with Electronic Arts' stock surging 4.5% after announcing plans to go private at a valuation of $55 billion. According to Goldman Sachs, the total announced M&A transactions in the US this year have surpassed $1 trillion, a 29% year-on-year increase, indicating accelerated corporate expansion and restructuring amid ample capital [4]. Economic Indicators and Government Risks - The market is closely monitoring the risk of a US federal government shutdown, with the deadline for fiscal appropriations approaching. If Congress fails to reach a budget agreement, the Labor Department will suspend the release of important economic data, including the September non-farm payroll report, which could disrupt the Federal Reserve's policy judgments and affect market expectations for interest rate paths [6]. - Despite recent volatility, the US stock market maintains an upward trend on a monthly basis, with the S&P 500 up over 3% this month, the Dow rising nearly 2%, and the Nasdaq, with a higher concentration of tech stocks, showing a cumulative increase of over 5% [6]. Precious Metals Market - The demand for precious metals has risen, driven by the shadow of a US government shutdown and increasing expectations for Federal Reserve rate cuts. On Monday, spot gold surpassed $3800 per ounce, reaching a new historical high. Notably, predictions suggest that gold prices could reach $4000 per ounce by the end of the year, with potential scenarios indicating prices could rise to $4500 or even $5000 per ounce under certain conditions [8][9].