Core Insights - Sustainable Growth Advisers (SGA) reported a negative return of -1.3% (Gross) and -1.4% (Net) for its U.S. Large Cap Growth Strategy in Q3, underperforming the Russell 1000 Growth Index which returned 10.5% and the S&P 500 Index which returned 8.1% [1] - The investment strategy focuses on high-quality growth businesses with expected mid-teens earnings growth, but faced challenges as lower-quality stocks and cyclical industries outperformed in the market [1] Company-Specific Insights - Workday, Inc. (NASDAQ:WDAY) was highlighted in SGA's investor letter, reporting a one-month return of -0.85% and a 52-week loss of 14.72%, with a market capitalization of $57.346 billion as of December 31, 2025 [2] - SGA liquidated its position in Workday due to signs of a deteriorating competitive environment, particularly with increased pressure from rivals like SAP, despite Workday maintaining its annual revenue guidance [3] - Workday reported total revenue of $2.432 billion in its fiscal third quarter of 2026, reflecting a year-over-year growth of 13% [4]

根据伦敦证券交易所集团（lseg）的数据以及路透社的测算，芯片巨头英伟达在刚刚过去的一年中跃升 为全球市值最高的公司，市值高达4.63万亿美元，超过了长期排名第一的苹果（4.04万亿美元）。与此 同时，谷歌母公司alphabet也从第四位升至第三位，超越了微软。alphabet当前的市值为3.79万亿美元 ——如果放在2024年，这一规模足以登顶全球第一。 不仅如此，芯片制造商博通（broadcom，排名第七）以及晶圆代工巨头台积电（tsmc）同样受益于汹涌 而来的人工智能需求。台积电是全球市值前十名中唯一的新面孔，也是继沙特阿美之后，全球市值第二 高、但并非来自美国的公司。 总体来看，美国企业依旧占据主导地位：在全球市值前20名中，美国公司占16席；在前100名中，占到 62家。如今，全球已有12家公司市值超过1万亿美元，而三年前这一数字还只有4家。 来源：市场资讯 （来源：DOLC） 多年来，苹果一直稳居全球市值最高公司的宝座。但如今，这家加州科技巨头被芯片制造商英伟达超 越。今年，人工智能浪潮席卷全球资本市场，相关企业纷纷从中获益。 PART 01 人工智能（ai）热潮牢牢吸引着全球股市的目光 同样来自 ...

Core Viewpoint - Tesla is expected to see a decline in deliveries in the fourth quarter due to the loss of U.S. tax credits and increasing global competition, despite the introduction of cheaper versions of its best-selling models [1] Group 1 - The loss of U.S. tax credits is anticipated to negatively impact demand for Tesla vehicles [1] - Rising global competition is contributing to the expected decrease in Tesla's deliveries [1] - The company is attempting to mitigate this by rolling out more affordable versions of its popular models [1]

The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to give back ground after turning in a strong performance last week.Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on recent gains going into the end of the year.Partly reflecting renewed strength among tech stocks, the Dow and the S&P 500 ended last Thursday's trading at record closing highs before edging slightly lower last Friday.A pullback by big-name tech ...

The major European moved slightly higher on Monday even as stocks swung between gains and losses in cautious trade amid a lack of significant triggers. Defense stocks shed ground amid signs of progress in Ukraine peace talks.U.S. President Donald Trump said a Ukraine peace deal is "getting a lot closer" although territorial issues remain unsolved.The pan European Stoxx 600 was up 0.11% at 589.36 a little while ago. The U.K.'s FTSE 100 moved up 0.2% to 9,890.90. Germany's DAX was up 18.87 points or 0.1% 24, ...

During the quarter, licensing revenue increased 56% to $515 million, reflecting deeper relationships and growing interest in AI-optimized systems. Profitability also increased, with adjusted earnings per share (EPS) rising by 30% to $0.39. Beyond the data center, Arm is expanding its AI footprint into edge devices and automotive systems. Strategic collaborations with Meta (META) and Samsung aim to boost AI efficiency across wearables and flagship smartphones, while new platforms such as Lumex CSS provide po ...

Dilok Klaisataporn / Shutterstock.com Quick Read ACWX gained in 2025 as US dollar weakness amplified returns from international stocks for dollar-based investors. The fund holds $7.3B across 2,000 non-US stocks with a 0.32% expense ratio and just 12% in top 10 holdings. IXUS offers nearly identical exposure at 0.07% compared to ACWX’s 0.32% fee. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than e ...

SILICON VALLEY, Calif.--(BUSINESS WIRE)--Payactiv is now officially listed on the SAP® Store for SAP SuccessFactors HCM customers. ...

Diversification is usually a winning investment strategy, and that's proven especially true in 2025 when international stocks largely outperformed U.S. equities. While the S&P 500 is up about 15% this year, stocks in Spain have surged 40%, and South Korea is up 65%.Despite the tariff woes with the U.S., its largest trading partner, Canada’s stock market has doubled the S&P 500’s stock performance this year.And all signs point to this trend continuing, and even strengthening, in 2026.Now, getting exposure to ...

1. Report Industry Investment Rating - No information provided in the report. 2. Core Views of the Report - Gold: Unemployment is rising [2] - Silver: Undergoing high - level adjustment [2] - Copper: The weakening dollar supports prices [2] - Zinc: Domestic and overseas markets are in resonance [2] - Lead: Lacking price drivers and experiencing price fluctuations [2] - Tin: Supply is disrupted again [2] - Aluminum: Trading sideways [2] - Alumina: Slightly rebounding [2] - Cast aluminum alloy: Following the trend of electrolytic aluminum [2] - Platinum: Showing a strong upward momentum [2] - Palladium: Continuously breaking through resistance levels and approaching previous highs [2] - Nickel: The structural surplus is changing, and attention should be paid to Indonesia's policy risks [2] - Stainless steel: Supply and demand are both weak, and steel prices are fluctuating at low levels [2] 3. Summary by Related Catalogs Gold - **Fundamentals**: The closing prices of various gold futures and spot products showed fluctuations. For example, the closing price of Shanghai Gold 2602 was 971.42, with a daily decline of 1.19%. Trading volume decreased, and inventory changes were relatively small [4] - **News**: US non - farm payrolls in October had the largest decline in five years, recovered in November but remained weak overall, and the unemployment rate reached a four - year high [4] - **Trend Intensity**: 0, indicating a neutral trend [8] Silver - **Fundamentals**: Similar to gold, silver prices fluctuated, trading volume decreased, and inventory changes were significant in some cases. For example, the Shanghai Silver 2602 closing price was 14666, with a daily decline of 0.85% [4] - **Trend Intensity**: 0, indicating a neutral trend [8] Copper - **Fundamentals**: The closing prices of Shanghai and London copper futures declined. Trading volume and open interest decreased. Inventory changes were mixed, and spot - futures spreads also changed [10] - **News**: In November, US non - farm payrolls exceeded expectations, but the unemployment rate unexpectedly reached a four - year high. In October, Codelco's copper production in Chile decreased by 14.3% year - on - year, while Peru's copper production increased by 4.8% [10][12] - **Trend Intensity**: 0, indicating a neutral trend [12] Zinc - **Fundamentals**: The closing prices of Shanghai and London zinc futures declined. Trading volume and open interest decreased. Spot premiums and discounts, inventory, and other indicators also changed [13] - **News**: US retail sales in October were flat overall, but core indicators strongly supported Q4 growth. The eurozone's December manufacturing PMI contracted further [14] - **Trend Intensity**: - 1, indicating a slightly bearish trend [15] Lead - **Fundamentals**: The closing prices of Shanghai and London lead futures declined. Trading volume and open interest showed different trends, and inventory and price spreads changed [16] - **News**: Similar to copper, US non - farm payrolls and the eurozone's manufacturing PMI had a certain impact [17] - **Trend Intensity**: 0, indicating a neutral trend [17] Tin - **Fundamentals**: The closing prices of Shanghai and London tin futures declined. Trading volume decreased, and inventory and price spreads changed [19] - **News**: Similar to gold, including US non - farm payrolls and other macro - news [20] - **Trend Intensity**: - 1, indicating a slightly bearish trend [21] Aluminum, Alumina, Cast Aluminum Alloy - **Fundamentals**: Aluminum prices were trading sideways, alumina prices slightly rebounded, and cast aluminum alloy followed electrolytic aluminum. Various futures and spot indicators such as closing prices, trading volume, open interest, inventory, and price spreads changed [22] - **News**: China plans to promote investment and consumption growth next year, and the real estate supply side will control increments and revitalize stocks. The US labor market is cooling [23] - **Trend Intensity**: 0, indicating a neutral trend for all three [23] Platinum and Palladium - **Fundamentals**: Platinum and palladium prices rose, trading volume and open interest changed, and ETF holdings and price spreads also changed [26] - **News**: US non - farm payrolls, ADP employment reports, and news related to the Fed chair candidate and international trade policies [29] - **Trend Intensity**: 1, indicating a slightly bullish trend for both [28] Nickel and Stainless Steel - **Fundamentals**: Nickel and stainless steel prices declined. Various industry indicators such as trading volume, open interest, product prices, and spreads changed [30] - **News**: Indonesian nickel mines have been affected by regulatory actions, China has adjusted import subsidies, and the US may impose additional tariffs on China. Also, some US Fed officials have made dovish statements, and China will implement export license management for some steel products [30][33] - **Trend Intensity**: 0, indicating a neutral trend for both [34]