海外高频 | 美国9月零售弱于预期，黄金白银大幅上涨（申万宏观·赵伟团队）

Group 1 - The article highlights that major asset classes saw an increase, with equities and precious metals like gold and silver experiencing significant gains. The S&P 500 rose by 3.7% and the Nasdaq by 4.9% during the week [2][3] - The U.S. 10-year Treasury yield decreased by 4.0 basis points to 4.02%, while the dollar index fell by 0.7% to 99.44, indicating a strengthening of other currencies against the dollar [2][21][32] - The article notes that the WTI crude oil price increased by 0.8% to $58.6 per barrel, and COMEX gold rose by 3.4% to $4223.9 per ounce, reflecting a positive trend in commodity prices [2][47][54] Group 2 - The article discusses the signing of the "Genesis Plan" by Trump, aimed at doubling U.S. scientific productivity over ten years, although it lacks specific budget allocations [2][64] - The U.S. fiscal deficit for 2025 reached $1.65 trillion, with total expenditures at $7.29 trillion and tax revenues at $4.49 trillion, indicating a slight decrease in the deficit compared to the previous year [2][65] - The latest Beige Book from the Federal Reserve indicates a slight decline in employment and a reduction in hiring activity, suggesting a weakening labor market [2][77] Group 3 - U.S. retail sales for September grew by only 0.2%, falling short of market expectations, with notable declines in categories such as sporting goods and online retail [2][81] - The article mentions that the GDPNow forecast from the Atlanta Fed predicts a 3.9% growth rate for the U.S. economy in the third quarter, indicating a stable economic outlook despite the retail sales data [2][84]