特朗普：关税公式是基于常识，旨在保护美国的利益。 ...

美元兑巴西雷亚尔USD/BRL短线拉升，现报5.4752，此前特朗普称将公布对巴西的关税。 美元/巴西里亚尔 ...

特朗普：我们对关税没有太多抱怨。 ...

Core Viewpoint - The Malaysian Prime Minister Anwar highlighted that tariffs, export restrictions, and investment barriers have become sharp tools in geopolitical competition, transforming from instruments of economic growth to means of pressure, isolation, and containment [1] Group 1 - Tariffs are now utilized as tools for geopolitical competition rather than for economic growth [1] - Export restrictions are being employed to exert pressure and isolate nations [1] - Investment barriers are increasingly seen as mechanisms for containment in the current geopolitical landscape [1]

有色金属 姓名：龙奥明 宝城期货投资咨询部 从业资格证号：F3035632 投资咨询证号：Z0014648 电话：0571-87006873 邮箱：longaoming@bcqhgs.com 作者声明 本人具有中国期货业协会授 予的期货从业资格证书，期货投 资咨询资格证书，本人承诺以勤 勉的职业态度，独立、客观地出 具本报告。本报告清晰准确地反 映了本人的研究观点。本人不会 因本报告中的具体推荐意见或观 点而直接或间接接收到任何形式 的报酬。 专业研究·创造价值 2025 年 7 月 9 日 有色日报 美关税冲击，沪铜领跌有色 核心观点 （仅供参考，不构成任何投资建议） 专业研究·创造价值 1 / 6 请务必阅读文末免责条款 请务必阅读文末免责条款部分 有色金属 | 日报 投资咨询业务资格：证监许可【2011】1778 号 沪铜 7 月 8 日美国特朗普表示要对铜征收 50%关税，这使得纽约铜拉涨 超 10%，突破 3 月时的高位，一度逼近 6 美元/磅。但伦铜走势反差 较大，呈现冲高回落态势，一度跌破 9600 美元/吨。COMEX 和 LME 价 差快速走阔，按照 7 月 7 日收盘价计算，价差已接近 2 ...

Group 1 - Analysts predict a 5.8% year-over-year growth in S&P 500 earnings for Q2, a significant decline from 13.7% in Q1 [1] - The forward P/E ratio of the S&P 500 is approximately 22 times, higher than the 10-year average of 18 times, raising concerns about whether earnings growth can support higher stock prices [1] - The trade war initiated by President Trump has expanded, with increased tariffs announced for 14 countries and specific tariffs on copper, semiconductors, and pharmaceuticals [1] Group 2 - Goldman Sachs notes that high tariffs have not yet pressured sales forecasts or corporate spending plans at the overall index level, but some companies may face profit margin risks if they absorb tariff costs [2] - The S&P 500's Q2 earnings growth forecast has stabilized after significant downward revisions in April, particularly for sectors like automotive and durable goods that are heavily impacted by tariffs [2] - The estimated earnings growth rate for the S&P 500 has decreased by 4.4 percentage points over the past three months, compared to a three-year average decline of 3.5 percentage points [2] Group 3 - Lower earnings expectations may not be negative, as many S&P 500 companies typically exceed analyst forecasts, making it easier to surpass lower expectations [3] - A weaker dollar, which has depreciated about 7% in Q2 and 10% year-to-date, may benefit corporate earnings by making U.S. goods cheaper abroad [3] - The technology and communication services sectors are expected to see the highest year-over-year earnings growth in Q2, with technology projected to grow by 17.7% and communication services by 31.8% [3] Group 4 - Optimism surrounding artificial intelligence remains high, with Nvidia's market capitalization nearing $4 trillion, positioning it as a potential highest-valued company in history [4]

白宫贸易顾问纳瓦罗：苹果认为自己体量太大而不会被征收关税。#行情 苹果股价盘前转跌。 ...

Core Viewpoint - The CEO of UBS Group emphasized that uncertainty is worse than any specific issue, such as tariffs [1] Group 1 - The statement reflects a broader concern in the financial industry regarding the impact of uncertainty on market stability and investment decisions [1]

Group 1 - The article discusses the potential impact of Trump's announced tariffs on gold prices and market trends [1] - It highlights the ongoing analysis of mainstream commodities and their expected trends in response to economic changes [1] - The content encourages viewers to engage with the analysis provided by TTPS Trading School [1]

中辉有色观点 | 品种 | 核心观点 | 主要逻辑及价格区间 | | --- | --- | --- | | 黄金 | 高位震荡 | 短期关税风险影响减少，市场风险偏好回升。中长期看美国财政扩张既成事实， 多国财政继续扩大，多国央行继续购买黄金，中长期货币宽松、不确定性仍然 | | | | 较多，长期全球秩序尚在重塑，黄金战略配置。【765-785】 | | 白银 | 强势震荡 | 双宽松政策对白银需求有支撑。白银盘面 8700 附近支撑较强，受基本金属和黄 | | | | 金价格情绪影响较大，高位区间思路操作，做好仓位控制。【8800-9075】 | | 铜 | 多单持有 | 特朗普称即将对铜进口加征 50%关税，美铜爆拉 10%创历史新高，建议铜多单继续 | | | | 持有，中长期我们对铜依旧看好。沪铜关注区间【79000，83000】 | | 锌 | 震荡 | 特朗普关税施压，宏观情绪回落，基本面锌精矿加工费修复，国内锌库存小幅 累库，国内消费淡季，锌窄幅震荡，长期看，锌供增需弱，把握逢高空机会。 | | | | 沪锌关注区间【21800，22500】 | | 铅 | 反弹承压 | 原生铅冶炼厂检修后 ...