新蓝图，新起点：申万期货早间评论-20251024

Core Insights - The article discusses the key objectives for China's economic and social development during the 14th Five-Year Plan period, emphasizing high-quality development, technological self-reliance, and improved living standards by 2035 [1] Group 1: Economic and Social Development Goals - The 14th Five-Year Plan aims for significant achievements in high-quality development, technological independence, and comprehensive reforms [1] - By 2035, the goals include substantial increases in economic, technological, and national defense strength, with GDP per capita reaching the level of moderately developed countries [1] Group 2: Commodity Market Insights - In the commodity market, crude oil prices rose by 3.48% to 469.8 yuan per barrel, influenced by geopolitical tensions and U.S. sanctions on Russian oil companies [1][3] - Precious metals like gold and silver have stabilized after high adjustments, with gold being increasingly recognized as a safe-haven asset amid rising global tensions and financial system distrust [2][19] Group 3: Industry News - The U.S. housing market showed signs of recovery with a slight increase in existing home sales, attributed to lower mortgage rates and a slowdown in price growth [6] - In China, electricity consumption reached a record high of 7.77 trillion kilowatt-hours in the first three quarters, reflecting a year-on-year growth of 4.6% [7] - The automotive industry saw over 10 million applications for the vehicle trade-in subsidy, with new energy vehicles making up 57.2% of the total [8] Group 4: Market Performance - The S&P 500 index increased by 0.58%, while the European STOXX50 rose by 0.34%, indicating a positive trend in international markets [10] - The domestic stock index is expected to enter a phase of directional choice, influenced by recent U.S.-China trade tensions and upcoming policy directions from the 20th Central Committee [11]