中国基金报·2025-10-31 01:32Market Overview - The three major U.S. stock indices closed down, with Meta experiencing a decline of over 11%, resulting in a market value loss of $214 billion (approximately 1.5 trillion RMB) [2][4][8] - The Dow Jones fell by 0.23% to 47,522.12 points, the S&P 500 dropped by 0.99% to 6,822.34 points, and the Nasdaq decreased by 1.57% to 23,581.14 points [4] Economic Concerns - The U.S. federal government has been in a "shutdown" status for five weeks, with potential economic losses estimated between $7 billion to $14 billion if the situation continues [6] - High-profile warnings from executives, including Goldman Sachs' CEO, indicate that persistent economic stagnation could lead to a "reckoning" due to rising debt levels [7] Company Performance - Meta's stock plummeted by 11.33%, despite achieving its highest revenue growth since Q1 2024, largely due to a one-time expense of $15.93 billion related to Trump's "Great American Plan" [10] - Microsoft shares fell by 2.9% after announcing a $3.1 billion loss from its investment in OpenAI, raising concerns about AI spending [10] Technology Sector Insights - Major tech stocks mostly declined, with Facebook down over 11%, Tesla down over 4%, Amazon down over 3%, and Microsoft down nearly 3% [8] - Alphabet's stock rose due to strong earnings, while Meta and Microsoft faced market pressure following their earnings reports [10] Capital Expenditure Trends - The total capital expenditure for Alphabet, Meta, and Microsoft reached approximately $78 billion, marking an 89% year-over-year increase, with both Alphabet and Meta raising their capital expenditure forecasts for 2025 due to strong AI demand [10] Netflix Stock Split Announcement - Netflix announced a 1-for-10 stock split, effective November 17, aimed at making its stock price more accessible for employee stock options [12][14] - Following the announcement, Netflix's stock rose over 3% in after-hours trading, closing at $1,089 per share, with a year-to-date increase of 42% [12] Commodity Market Update - Copper prices have retreated from record highs, influenced by a stronger dollar and reduced expectations for further Fed easing [16][17] - The London Metal Exchange's benchmark copper price fell by 3.3%, marking the largest drop since October 14, after reaching a new high of $11,200 per ton [17]