Core Viewpoint - Gold prices are experiencing volatility, influenced by the Federal Reserve's upcoming statements and concerns over U.S. trade agreements, particularly with Japan, which are affecting the dollar's strength [1][5][7]. Group 1: Market Analysis - Gold prices found buying support near a monthly low of $3,250, as the market anticipates dovish signals from the Federal Reserve [1]. - The dollar is under pressure, having reached a near four-year low against major currencies, which is contributing to gold's recovery [4][7]. - Concerns regarding U.S. trade agreements, especially with Japan, are overshadowing optimism surrounding trade deals with China and Canada [5][6]. Group 2: Technical Analysis - Gold closed below a key support level, indicating potential for further declines [2]. - The price is attempting to rebound from the $3,250 demand zone, aiming to reclaim the resistance level at $3,297 [14]. - The Relative Strength Index (RSI) remains below 50, suggesting that any rebound may be temporary [15]. - If buyers can maintain upward momentum and surpass $3,297, a new rally towards the 50-day Simple Moving Average (SMA) at $3,321 could occur [16]. - On the downside, a break below the intraday low of $3,248 could trigger a move towards the 50% Fibonacci level at $3,232 [18].

Core Viewpoint - The recent appreciation of the Renminbi (RMB) against the US dollar has caused significant regret among dollar holders, as the offshore RMB exchange rate has surged to a new high since November of the previous year, reaching 7.16 [1][3]. Group 1: Factors Driving RMB Appreciation - The RMB's strong performance is attributed to multiple factors, including the nearing end of the Federal Reserve's aggressive interest rate hikes, which has diminished the dollar's attractiveness [5]. - China's economy has shown robust resilience, with favorable foreign trade data and a significant increase in trade surplus, leading to strong demand for currency exchange [5]. - Continuous inflow of foreign capital into the A-share market has further supported the RMB, as foreign investors convert dollars to RMB for investment [5]. Group 2: Market Reactions and Predictions - The People's Bank of China's subtle policy adjustments have effectively guided market sentiment, with the central parity rate of the RMB being raised multiple times, signaling stability [3]. - Market reactions have been swift, with the onshore and offshore RMB rates showing a narrowing price gap, indicating strong buying interest [3]. - Most institutions predict that the RMB will maintain its strength in the second half of the year, with a trading range expected between 7.1 and 7.2, although unforeseen events could lead to volatility [9]. Group 3: Impacts of RMB Appreciation - The appreciation of the RMB benefits outbound travelers and online shoppers, as they can save significantly on expenses when converting currency [8]. - Conversely, export-oriented companies face pressure as clients demand lower prices, leading to reduced profit margins [8].

Group 1: Commodity Price Forecast - Gold is expected to experience range-bound fluctuations, while copper and oil are anticipated to trend upwards [1][14] - Domestic copper concentrate processing fees have plummeted, and the Panama copper mine has not yet resumed operations, indicating a tight supply for copper, which supports an upward price trend [15] Group 2: Consumer Trends - Passenger car sales have rebounded, while new and second-hand housing sales have weakened, with first-tier cities seeing a decline in second-hand housing price growth [3] - The summer consumption heat is recovering, with an increase in foot traffic in commercial areas and subway passenger volumes, alongside improved hotel occupancy rates and average room prices [4] Group 3: Foreign Trade - Overall export performance is weakening, with shipments to the U.S. shifting from growth to decline [5][6] - Concerns over the expiration of tariff exemptions have led to a decrease in container bookings to the U.S., with a corresponding drop in shipping volumes [7] Group 4: Production Insights - Demand remains relatively resilient, with an increase in the price of thermal coal due to rising daily coal consumption at power plants [9][12] - The production of rebar has increased, and while social inventory continues to decline, factory inventory has shifted from decline to increase [11] Group 5: Price Movements - Geopolitical risks have eased, leading to a decline in gold and oil prices, although oil prices may rebound if conflicts resume [13] - Domestic prices for cement, rebar, glass, and thermal coal have shown signs of recovery [13]

Core Insights - A recent study reveals a persistent cold water zone in the North Atlantic that has resisted overall warming trends for over a century, linked to the long-term weakening of the Atlantic Meridional Overturning Circulation (AMOC) [1][2] - The study enhances future climate predictions related to Europe, as AMOC significantly impacts European weather patterns [1] Group 1: AMOC and Climate Impact - The AMOC is a large ocean current system that regulates climate by transporting warm, salty water northward and cold water southward, acting like a conveyor belt [1][2] - The weakening of AMOC results in less warm, salty water reaching subpolar regions, leading to observed cooling and freshwater influx in the southern Greenland area [1][2] Group 2: Research Methodology - Researchers analyzed sea temperature and salinity data over the past century to reconstruct changes in the AMOC, comparing it with nearly 100 different climate models [2] - Only models simulating the weakening of AMOC aligned with real-world data, indicating the significance of this phenomenon [2] Group 3: Broader Implications - The cold water zone near southern Greenland is crucial as it is one of the most sensitive areas to ocean circulation changes, affecting weather patterns in Europe, altering rainfall, and modifying jet streams [2] - The slowdown of ocean currents may disrupt marine ecosystems due to changes in salinity and temperature affecting species habitats [2][3]

都是 NPT，用 RL 做预训练的潜力更大吗？为什么强化学习里很少有预训练模型？最流行的 RL 范式有何理论缺陷？ 已有成效 的后训练 RL 实现存在什么问题？ 2. 硅谷 AI Leaders 近期「暴论」大盘点！ 1.从后训练回到预训练，LLM+RL 的潜力兑现有有机会走更远吗？ 未来订阅 ChatGPT 就送人形机器人？AGI 为什么可能永远无法实现？为什么 AI 比程序员更显性价比？行业大模型真的没必要 吗？做好研究不如写好推文？OpenAI 和 Nvidia 的「AI 工厂」有何区别？ 本期完整版通讯含 2 项专题解读 + 29 项 AI & Robotics 赛道要事速递，其中技术方面 11 项，国内方面 9 项，国外方面 9 项。 本期通讯总计 23143 字，可免费试读至 9% 机器之心PRO · 会员通讯 Week 26 --- 本周为您解读 ② 个值得细品的 AI & Robotics 业内要事 --- ① LLM 预训练对监督数据的需求趋于无穷，且需要覆盖尽可能所有遇到的问题，同时要求监督信号必须准确无 误，从而保证模型正确性。 ② 两项要求在现实中均难以实现，原因在于高质量人类标注数据 ...

Core Viewpoint - Dorian LPG has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that revisions in earnings estimates can lead to significant price changes [4][6]. - The recent upgrade reflects an improvement in Dorian LPG's underlying business, which is expected to drive the stock price higher as investors respond positively to the earnings outlook [5][10]. Earnings Estimate Revisions - For the fiscal year ending March 2026, Dorian LPG is projected to earn $2.95 per share, consistent with the previous year's figure [8]. - Over the past three months, the Zacks Consensus Estimate for Dorian LPG has increased by 23.4%, indicating a strong upward trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with only the top 5% receiving a "Strong Buy" rating, highlighting Dorian LPG's strong position in this regard [9][10]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, underscoring the effectiveness of the rating system in identifying high-potential investments [7].

Core Viewpoint - LifeStance Health Group (LFST) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Stock Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, making the Zacks rating system beneficial for investors [3][5]. Impact of Institutional Investors - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, leading to stock price movements based on their buying or selling activities [5]. Business Improvement Indicators - The rising earnings estimates for LifeStance Health indicate an improvement in the company's underlying business, which is expected to positively influence its stock price [6]. Importance of Earnings Estimate Revisions - Empirical research supports the correlation between earnings estimate revisions and stock movements, highlighting the importance of tracking these revisions for investment decisions [7]. Zacks Rank System Performance - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. Specific Earnings Estimates for LifeStance Health - LifeStance Health is projected to earn -$0.06 per share for the fiscal year ending December 2025, with no year-over-year change, while the Zacks Consensus Estimate has increased by 45% over the past three months [9]. Overall Rating System Characteristics - The Zacks rating system maintains a balanced distribution of "buy" and "sell" ratings across its universe of over 4,000 stocks, with only the top 5% receiving a "Strong Buy" rating [10][11].

Core Viewpoint - CryoPort, Inc. (CYRX) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, indicating a positive outlook for the company's stock price [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine the fair value of a company's shares, leading to significant buying or selling actions that affect stock prices [4]. Recent Performance and Outlook - For the fiscal year ending December 2025, CryoPort is expected to earn -$0.82 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 25.7% over the past three months [8]. - The upgrade to Zacks Rank 2 places CryoPort in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - The system maintains a balanced distribution of ratings, ensuring that only the top 20% of stocks receive a "Strong Buy" or "Buy" rating, indicating superior earnings estimate revisions [9][10].

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on MongoDB (MDB), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like Zacks Rank to make informed investment decisions [1][5][10]. Brokerage Recommendations for MongoDB - MongoDB has an average brokerage recommendation (ABR) of 1.54, indicating a consensus between Strong Buy and Buy, based on recommendations from 35 brokerage firms [2]. - Out of the 35 recommendations, 24 are classified as Strong Buy, accounting for 68.6%, while three are classified as Buy, making up 8.6% of the total recommendations [2]. Limitations of Brokerage Recommendations - Solely relying on brokerage recommendations may not be wise, as studies indicate limited success in guiding investors towards stocks with the best price increase potential [5]. - Brokerage firms often exhibit a positive bias in their ratings due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [6][10]. Zacks Rank as an Alternative Indicator - Zacks Rank categorizes stocks into five groups based on earnings estimate revisions, providing a more reliable indicator of a stock's price performance in the near future [8][11]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates and business trends [13]. MongoDB's Earnings Estimates - The Zacks Consensus Estimate for MongoDB has increased by 15.8% over the past month to $3.03, indicating growing optimism among analysts regarding the company's earnings prospects [14]. - This increase in consensus estimates, along with other factors, has resulted in a Zacks Rank 2 (Buy) for MongoDB, suggesting a positive outlook for the stock [15].

近期预测结论 I H IF 1. 00% 1. 00% 真实基差变动 预测基差变动 0. 75% 0. 75% 0. 50% 0. 50% 0. 25% 0. 25% 0. 00% 0. 00% -0. 25% -0. 25% -0. 50% -0. 50% -0. 75% -0. 75% 真实基差变动 预测基差变动 -1.00% -1.00% 2025-06-13 025-03-28 025-04-03 025-05-3 2025-04-0 025-05-2 025-06-0 025-06-2 25-03-2 025-04-1 025-04-3 5-06-2 025-05-0 2025-04-2 2025-05-1 2025-07-0 025-05-0 025-04-1 025-04-3 2025-06-2 2025-04-1 025-05-1 025-04-1 25-04-2 025-05-2 2025-06- IC I W 1. 00% 1. 00% 真实基差变动 预测基差变动 0. 75% 0. 75% 0. 50% 0. 50% 0. 25% 0. 25% 0. 00% -0. 25% -0. 50 ...