Report Industry Investment Rating - Not provided Core View of the Report - The fundamentals of aluminum are neutral due to carbon neutrality controlling capacity expansion, weak downstream demand, and a soft real - estate market with volatile short - term macro sentiment. The basis shows a neutral situation with a spot price of 20730 and a basis of - 20, indicating a discount to the futures. The inventory situation is neutral as the上期所 aluminum inventory decreased by 8047 tons to 124605 tons last week. The market trend is bullish as the closing price is above the 20 - day moving average which is upward. The main positions are net long and the long positions are increasing. In the long - term, carbon neutrality will drive the transformation of the aluminum industry and is bullish for aluminum prices, but the US expanding steel and aluminum tariffs creates a situation where bulls and bears are intertwined, leading to an oscillating aluminum price [2]. Summary According to Relevant Catalogs Daily View - The overall assessment of aluminum has multiple aspects: fundamental analysis is neutral; basis analysis is neutral; inventory analysis is neutral; market trend analysis is bullish; main position analysis is bullish; and the expected price movement is oscillating due to mixed factors [2]. Recent利多利空Analysis - **利多 factors**: Carbon neutrality controls capacity expansion; the Russia - Ukraine geopolitical situation affects Russian aluminum supply; and there is a possibility of interest rate cuts [3]. - **利空 factors**: The global economy is not optimistic, and high aluminum prices will suppress downstream consumption; the export tax rebate for aluminum products has been cancelled [3]. Daily Summary - **Spot prices**: In Shanghai, the price was 70770 with a decline of 375; in Nanchu, it was 70690 with a decline of 450; and the Yangtze River price was 70870 with a decline of 400 [4]. - **Inventory**: Shanghai warehouse receipts increased by 699 to 70798 tons; LME inventory decreased by 425 tons to 74750 tons; SHFE inventory (weekly) increased by 29728 tons to 136300 tons [4]. Supply - Demand Balance - The supply - demand balance of aluminum in China from 2018 - 2024 shows different situations. In 2018, the supply - demand balance was - 47.61 million tons; in 2019, it was - 68.61 million tons; in 2020, it was 1.3 million tons; in 2021, it was - 14.2 million tons; in 2022, it was - 29.98 million tons; in 2023, it was - 4.31 million tons; and in 2024, it was 15 million tons [20].

1. Report Industry Investment Ratings - Iron ore: Oscillation [2] - Coal and coke: Oscillation [2] - Rebar (Rolled steel): Oscillation with a weak bias [2] - Glass: Oscillation with a weak bias [2] - Shanghai Stock Exchange 50 Index: Upward [2] - CSI 300 Index: Oscillation [2] - CSI 500 Index: Oscillation [2] - CSI 1000 Index: Upward [4] - 2 - year Treasury bond: Oscillation [4] - 5 - year Treasury bond: Oscillation [4] - 10 - year Treasury bond: Decline [4] - Gold: Oscillation with a strong bias [4] - Silver: Oscillation with a strong bias [4] - Pulp: Weak operation [5] - Logs: Range oscillation [5] - Soybean oil: Oscillation [5] - Palm oil: Oscillation [5] - Rapeseed oil: Oscillation [5] - Soybean meal: Oscillation with a bearish bias [5] - Rapeseed meal: Oscillation with a bearish bias [5] - Soybean No. 2: Oscillation with a bearish bias [5] - Soybean No. 1: Oscillation with a bearish bias [5] - Live pigs: Oscillation with a weak bias [8] - Rubber: Oscillation [10] - PX: Wait - and - see [10] - PTA: Oscillation [10] - MEG: Reverse spread [10] - PR: Wait - and - see [10] - PF: Wait - and - see [10] 2. Core Views of the Report - The overall market shows a complex trend, with different products having different outlooks based on their specific supply - demand fundamentals, policy factors, and geopolitical situations. For example, the black industry is affected by production restrictions and demand trends; the financial market is influenced by policies and market sentiment; precious metals are driven by central bank purchases, geopolitical risks, and inflation data; and agricultural products are affected by weather, planting area, and consumption demand [2][4][5]. 3. Summary by Related Catalogs Black Industry - **Iron ore**: The fundamental contradiction is not prominent. The probability of an interest rate cut in September is high, supporting commodities. The expectation of domestic blast furnace production restrictions has been temporarily disproven, and the impact on demand is small. Global iron ore shipments have decreased slightly, and there is no obvious inventory accumulation pressure. Terminal demand is weak, and short - term prices are expected to oscillate [2]. - **Coal and coke**: Coal supply accidents are frequent, and production reduction expectations may cause supply fluctuations. Coal mine inventories are at a low level, and downstream demand is high. Short - term price adjustments are limited, and it is recommended to buy on dips after the market sentiment is released [2]. - **Rolled steel (Rebar)**: The production restriction policy in Tangshan is clear, but the reduction is less than expected. Overall demand is difficult to show a counter - seasonal performance, and there will be a pattern of high in the front and low in the back. Spot demand for rebar is weak, and futures prices are looking for support after a significant adjustment [2]. - **Glass**: Market sentiment has cooled, and the supply - demand pattern has not improved significantly in the short term. The key for the 01 contract is the cold - repair path. The long - term demand is difficult to recover significantly due to the adjustment of the real estate industry [2]. Financial Market - **Stock index futures/options**: The market has rebounded, and it is recommended to increase risk preference and long - position holdings. The release of relevant policies and international trade exchanges may have an impact on the market [2][4]. - **Treasury bonds**: Market interest rates are fluctuating, and the trend of Treasury bonds is weak. It is recommended that long - position holders hold lightly [4]. Precious Metals - **Gold and silver**: The pricing mechanism of gold is shifting from being centered on real interest rates to central bank gold purchases. Factors such as the US debt problem, geopolitical risks, and central bank gold - buying behavior support the prices of gold and silver. Although some factors may cause short - term fluctuations, the upward - driving logic has not completely reversed [4]. Light Industry - **Pulp**: The cost support for pulp prices is weak, and the paper - making industry has low profitability and high inventory pressure. The supply - demand pattern is weak, and prices are expected to decline [5]. - **Logs**: The daily shipment volume of logs is relatively stable, and the supply pressure is not large. The cost support is increasing, and prices are expected to oscillate within a range [5]. Oils and Fats - **Soybean oil, palm oil, and rapeseed oil**: The demand for soybean oil is promising due to strong export sales and relevant policies. The production and inventory of palm oil are in a certain state, and the demand growth provides long - term support. The inventory of domestic oils shows different trends, and prices are expected to oscillate after a previous sharp rise [5]. Oilseeds and Meals - **Soybean meal, rapeseed meal, soybean No. 1, and soybean No. 2**: The US soybean planting area has been significantly reduced, but the single - yield is expected to increase. The domestic soybean supply is abundant, and prices are expected to oscillate with a bearish bias, with weather and import volume being key factors [5]. Agricultural Products - **Live pigs**: The average trading weight of live pigs is decreasing, and the supply is increasing. The demand is restricted by high temperatures, and prices are expected to oscillate with a weak bias in the future [8]. Soft Commodities - **Rubber**: The supply of natural rubber is affected by weather and geopolitical factors, and the demand is relatively stable. The inventory is decreasing, and prices are expected to be strong in the short term [10]. Polyester - **PX, PTA, MEG, PR, and PF**: These products are affected by factors such as the geopolitical situation, oil prices, supply - demand fundamentals, and cost. Different products have different outlooks, including oscillation, wait - and - see, and reverse spread [10].

Report Industry Investment Ratings - The report does not explicitly provide an overall industry investment rating. However, individual investment suggestions are given for different sectors: - For股指期货, it is recommended to evenly allocate long positions in various stock index futures [15]. - For外汇 futures (US Dollar Index), the US dollar is expected to oscillate weakly [19]. - For US stock index futures, it is suggested to buy on dips after short - term corrections as the upward trend of US stocks has not reversed [22]. - For treasury bond futures, it is in a recent oscillatory trend, and when going long, one needs to pay attention to the absolute price, funds, and market sentiment [24]. - For other sectors such as commodities, specific investment suggestions are provided for each commodity, including buying on dips, selling on rallies, and waiting and seeing [26][28][29] Core Views - The A - share market has a V - shaped reversal with trading volume exceeding 3 trillion, but market divergence is increasing, and marginal changes need attention [2][14]. - The US labor market shows resilience with lower - than - expected initial jobless claims, and the market risk preference remains high. The Federal Reserve officials are releasing signals of interest rate cuts, which has an impact on the US stock and foreign exchange markets [17][20][21]. - In the commodity market, different commodities have different price trends and influencing factors. For example, copper prices are expected to oscillate at a high level due to the complex influence of macro and fundamental factors; the price of soybeans and related products is affected by factors such as export sales, reserve sales, and Sino - US relations [5][25][26] Summary by Directory 1. Financial News and Comments 1.1 Macro Strategy (Stock Index Futures) - The Chinese trade representative will visit the US. The "Opinions of the CPC Central Committee and the State Council on Promoting High - Quality Urban Development" is released. The A - share market has a V - shaped reversal with trading volume exceeding 3 trillion, but market divergence is increasing [13][14]. - Investment suggestion: Evenly allocate long positions in various stock index futures [15]. 1.2 Macro Strategy (Foreign Exchange Futures - US Dollar Index) - There are disputes over the dismissal of Federal Reserve Governor Lisa Cook. German Chancellor Merz says a meeting between Putin and Zelensky is unlikely. The US initial jobless claims last week were lower than expected [16][17]. - Investment suggestion: The US dollar is expected to oscillate weakly [19]. 1.3 Macro Strategy (US Stock Index Futures) - The US initial and continuing jobless claims last week were lower than expected. Federal Reserve Governor Waller supports a 25 - basis - point interest rate cut in the September meeting [20][21]. - Investment suggestion: Buy on dips after short - term corrections as the upward trend of US stocks has not reversed [22]. 1.4 Macro Strategy (Treasury Bond Futures) - The central bank conducted 4161 billion yuan of 7 - day reverse repurchase operations, with a net investment of 1631 billion yuan. The stock - bond seesaw effect has weakened recently, and the bond market is expected to be in an oscillatory trend [23]. - Investment suggestion: It is in a recent oscillatory trend, and when going long, one needs to pay attention to the absolute price, funds, and market sentiment [24]. 2. Commodity News and Comments 2.1 Agricultural Products (Soybean Meal) - The export sales of US new - crop soybeans were better than expected. China will auction 164,000 tons of imported soybeans on August 29. The soybean meal futures price is weaker than the overseas market [25][26]. - Investment suggestion: Affected by the expectation of improved Sino - US relations, soybean meal is weaker than the overseas market. The focus later is on China's purchase of US soybeans [26]. 2.2 Agricultural Products (Soybean Oil/Rapeseed Oil/Palm Oil) - The US soybean shipments to China were 0 tons in the week ending August 21. The oil market continued to oscillate at a high level and had a slight correction [27]. - Investment suggestion: The oil market still lacks clear guidance. It is recommended to go long on dips considering India's replenishment demand and the unfavorable inventory accumulation data of Malaysian palm oil in August [28]. 2.3 Agricultural Products (Corn Starch) - The corn consumption of starch sugar products increased slightly this week, while the corn starch consumption decreased. The industry's operating rate decreased slightly, and the inventory decreased slightly. The supply - demand situation is weak, and the CS11 - C11 spread is under pressure [29]. - Investment suggestion: The corn - starch price difference has fallen to a low level. It is necessary to pay attention to whether there are opportunities to widen the spread driven by factors such as the regional price difference of raw materials [29]. 2.4 Agricultural Products (Corn) - The corn inventory of major processing enterprises and the average inventory days of feed enterprises decreased. The spot market was cautious, while the futures rebounded. The short - term price decline rhythm may change [30][31][32]. - Investment suggestion: Short - term long positions entered earlier should be closed at an appropriate time. After the selling pressure is gradually realized, pay attention to whether there are new opportunities to go short on rallies [33]. 2.5 Black Metals (Rebar/Hot - Rolled Coil) - The inventory of five major steel products increased by 268,400 tons week - on - week. The supply - demand fundamentals of steel products still face pressure, but the industry policy has a positive impact on market sentiment [34][35]. - Investment suggestion: In the short term, a oscillatory approach should be adopted for steel prices [36]. 2.6 Black Metals (Steam Coal) - The price of low - calorie Indonesian coal has loosened, and the port coal price has fallen. The coal price is expected to be seasonally weak, but there is support below 650 yuan [37]. - Investment suggestion: The coal price is expected to be seasonally weak, but there is support below 650 yuan [37]. 2.7 Agricultural Products (Sugar) - The number of sugar - carrying ships waiting at Brazilian ports increased, and the estimated sugar production in Brazil was lowered. The international sugar price is expected to oscillate, and the outlook for the fourth - quarter external market is optimistic. The domestic sugar price is affected by factors such as imports and warehouse receipts [38][40][41]. - Investment suggestion: The Zhengzhou sugar futures price has fallen rapidly recently. The 1 - month contract can wait for opportunities to go long on dips, with a target price of around 5500 yuan or after the September contract is delivered [41]. 2.8 Black Metals (Iron Ore) - Rio Tinto adjusted its operation mode and executive committee. The iron ore price continued to oscillate, and the short - term supply - demand pressure was not large [42]. - Investment suggestion: Pay attention to the actual trading volume after the price increase. The iron ore market is expected to oscillate, and pay attention to positive spread trading opportunities [43]. 2.9 Agricultural Products (Red Dates) - The price of red dates in the Guangzhou Ruyifang market increased. The downstream arrivals decreased, and the spot price was firm but lacked upward momentum. The new - season production is uncertain [43][44]. - Investment suggestion: It is recommended to wait and see. Pay attention to the weather in the production area and the results of on - the - spot investigations [44]. 2.10 Non - Ferrous Metals (Lithium Carbonate) - KoBold Metals obtained seven lithium ore exploration licenses in the Democratic Republic of the Congo. The short - term supply - demand balance is affected by factors such as imports and production resumption, and there is support at the bottom [45]. - Investment suggestion: Pay attention to opportunities to go long on dips and positive spread trading opportunities [46]. 2.11 Non - Ferrous Metals (Polysilicon) - JinkoSolar's semi - annual report shows high - volume shipments but losses. The polysilicon price is stable, and the market is in a game about whether the upstream price increase can be transmitted downstream. The September production is uncertain [47][48]. - Investment suggestion: The downside space of the futures price is more definite, and the upside space depends on factors such as component bidding prices and production cuts. Unilaterally, a bullish view on dips can be maintained, and for arbitrage, pay attention to the 11 - 12 reverse spread opportunity at around - 2000 yuan/ton [49]. 2.12 Non - Ferrous Metals (Industrial Silicon) - Hesheng Silicon Industry's semi - annual report shows a loss. The production and inventory of industrial silicon are affected by the resumption of production of large factories in Xinjiang. The short - term price is expected to operate in the range of 8200 - 9500 yuan/ton [50][51]. - Investment suggestion: Pay attention to the resumption of production progress of large factories in Xinjiang. The short - term price may operate in the range of 8200 - 9500 yuan/ton, and pay attention to range - trading opportunities [51]. 2.13 Non - Ferrous Metals (Copper) - Yunnan Copper produced 779,400 tons of cathode copper in the first half of the year. Jiangxi Copper's semi - annual profit increased. The Snow Lake copper - gold mine in Canada resumed operation. The copper price is affected by macro and fundamental factors and is expected to oscillate at a high level [52][53][54]. - Investment suggestion: Unilaterally, it is recommended to go long on dips. For arbitrage, it is recommended to wait and see [56]. 2.14 Non - Ferrous Metals (Nickel) - The Indonesian Nickel Mining Association focuses on illegal mining in the nickel industry. The nickel price is affected by factors such as raw material prices and supply - demand fundamentals. The short - term price is expected to have band - trading opportunities, and medium - term short - selling opportunities can be considered [57][58][59]. - Investment suggestion: Short - term band - trading opportunities can be paid attention to, and medium - term short - selling opportunities on rallies can be considered. The downside space depends on factors such as the decline of raw material prices and downstream restocking [59]. 2.15 Energy Chemicals (Liquefied Petroleum Gas) - The weekly commercial volume of liquefied petroleum gas in China increased, and the inventory situation was mixed. The market is expected to oscillate in the short term [60][61]. - Investment suggestion: The market is expected to oscillate in the short term [63]. 2.16 Energy Chemicals (Carbon Emissions) - The CEA closing price decreased on August 28. The carbon market trading volume has not increased significantly, and the price is expected to oscillate weakly in the short term [64]. - Investment suggestion: The CEA price is expected to oscillate weakly in the short term [65]. 2.17 Energy Chemicals (Natural Gas) - The US natural gas inventory increased less than expected. The natural gas price has support at the current level, and the export demand is strong. The market is expected to oscillate in the short term [66]. - Investment suggestion: The NYMEX natural gas price is expected to oscillate in the short term [67]. 2.18 Energy Chemicals (Caustic Soda) - The price of high - concentration caustic soda in Shandong increased locally. The supply is relatively sufficient, and the demand is stable. The market is affected by factors such as transportation and inventory [68][69]. - Investment suggestion: Be cautious when chasing high prices [69]. 2.19 Energy Chemicals (Pulp) - The import pulp spot market was mostly stable. The pulp market is in a weak fundamental situation and is expected to oscillate weakly [70][71]. - Investment suggestion: The pulp market is expected to oscillate weakly [71]. 2.20 Energy Chemicals (PVC) - The domestic PVC powder market price decreased slightly. The market is affected by factors such as futures prices and downstream demand. It is expected to oscillate [72][73]. - Investment suggestion: The market is expected to oscillate [73]. 2.21 Energy Chemicals (Styrene) - The weekly output of styrene decreased slightly. The port inventory is accumulating, and the supply pressure is large. The market is affected by factors such as policies and oil prices [74][75]. - Investment suggestion: Pay attention to internal and external policy variables [75]. 2.22 Energy Chemicals (Bottle Chips) - The export price of bottle chips decreased, and the major manufacturers will maintain a minimum 20% production cut in September. The inventory is decreasing, and the supply - demand contradiction is alleviated [76][78]. - Investment suggestion: Pay attention to whether new production capacity can be put into operation as scheduled in September. The absolute price follows the fluctuation of polyester raw materials [78]. 2.23 Energy Chemicals (PTA) - The terminal operating rate in the Jiangsu and Zhejiang regions decreased locally. The supply - demand situation of PTA has improved marginally, and it is recommended to go long on dips in the short term [79][80][81]. - Investment suggestion: The short - term unilateral price will oscillate and adjust. It is recommended to go long on dips in a rolling manner [82]. 2.24 Energy Chemicals (Soda Ash) - The inventory of domestic soda ash manufacturers decreased. The soda ash price is in a weak and stable oscillation. It is recommended to sell on rallies and pay attention to supply - side disturbances [83]. - Investment suggestion: Sell on rallies and pay attention to supply - side disturbances [83]. 2.25 Energy Chemicals (Float Glass) - The price of float glass in the Shahe market decreased slightly. The glass price was affected by the equity market. The supply - demand contradiction has not been resolved, and it is recommended to be cautious in unilateral operations and focus on arbitrage [84][85]. - Investment suggestion: Be cautious in unilateral operations and focus on arbitrage. Pay attention to the spread - widening strategy of going long on glass and short on soda ash [85]. 2.26 Shipping Index (Container Freight Rate) - The cargo and container throughput of major ports from January to July increased year - on - year. The spot freight rate is weak, and the supply pressure is high. The freight rate is expected to continue to decline [86][87]. - Investment suggestion: The 10 - contract has broken through the 1300 support, and the next test is the 1250 support level [87].

Core Viewpoint - Federal Reserve Governor Waller supports a 25 basis point interest rate cut at the upcoming monetary policy meeting on September 16-17, with expectations for further cuts in the next three to six months depending on forthcoming data [1] Group 1: Interest Rate Policy - Waller believes the potential inflation rate in the U.S. is nearing the Fed's long-term target of 2%, supporting an immediate rate cut due to stable long-term inflation expectations and increasing likelihood of labor market weakness [1] - Waller previously voted against maintaining the interest rate at the last FOMC meeting in late July, advocating for a 25 basis point cut [1] Group 2: Economic Indicators - Waller suggests that the Fed should "ignore" the impact of tariffs on inflation, anticipating that their effects are temporary [1]

Group 1: Federal Reserve and Economic Outlook - Federal Reserve Governor Waller supports a 25 basis point rate cut in the September meeting, with expectations for further cuts in the next 3 to 6 months unless the August employment report shows significant economic weakness and inflation remains well-controlled [5] - The probability of the Federal Reserve maintaining rates in September is 13.8%, while the probability of a 25 basis point cut is 86.2% [5] - The market is expected to be influenced by the Federal Reserve's interest rate decisions, with predictions of over 100 basis points in cuts over the next year [5] Group 2: Stock Market Performance - On August 28, U.S. stock markets opened higher, with the Nasdaq up 0.53%, S&P 500 up 0.32%, and Dow Jones up 0.16%, with both Dow and S&P 500 reaching new closing highs [1] - Major tech stocks mostly rose, with Google A up over 2%, Amazon up over 1%, while Tesla fell over 1% and Nvidia slightly down by 0.79% [2] Group 3: Intel and Government Involvement - Intel's CFO announced receipt of $5.7 billion in unpaid grants from the CHIPS Act, which will convert into government equity holdings [3] - The Trump administration's investment of $8.9 billion for a 9.9% stake in Intel aims to prevent the sale of its chip manufacturing division, but may alter customer perceptions [3] - Ongoing discussions between Intel and the U.S. government regarding the transaction details are still in progress [3][4] Group 4: EU-U.S. Trade Relations - The European Commission proposed legislation to eliminate certain tariffs on U.S. goods, including industrial products and seafood, to enhance transatlantic trade relations [6] - The U.S. has committed to reducing tariffs on EU automobiles and parts from 27.5% to 15% [6]

Group 1: Market Performance - Major global stock indices showed mixed performance, with the Dow Jones Industrial Average at 45636.9, up 71.67 points or 0.16% [1] - The Nasdaq increased by 115.02 points, reaching 21705.16, a rise of 0.53% [1] - The S&P 500 rose by 20.46 points to 6501.86, reflecting a 0.32% increase [1] - The Shanghai Composite Index gained 43.25 points, closing at 3843.6, an increase of 1.14% [1] - The Shenzhen Component Index surged by 276.3 points, reaching 12571.37, a rise of 2.25% [1] - The Hang Seng Index fell by 202.94 points to 24998.82, a decrease of 0.81% [1] Group 2: Federal Reserve Insights - Federal Reserve Governor Waller supports a 25 basis point rate cut in September, anticipating further cuts in the next 3-6 months unless the August employment report indicates significant economic weakness [2] - Waller noted that the underlying inflation rate is close to 2%, with the policy rate expected to be 1.25 to 1.50 percentage points above the neutral rate [2] Group 3: Company Financials - Dell reported Q2 revenue of $29.8 billion, a 19% year-over-year increase, exceeding market expectations of $29.17 billion [4] - Dell's AI solutions shipments reached a value of $10 billion in the first half of the fiscal year 2026, surpassing the total for the entire fiscal year 2025 [4] - Dell expects full-year revenue for fiscal 2026 to be between $105 billion and $109 billion, with Q3 revenue guidance between $26.5 billion and $27.5 billion [4] Group 4: Investment and Financing - Commonwealth Fusion Systems (CFS) secured $863 million in funding, with investors including Nvidia and Alphabet, to advance its fusion energy demonstration system and develop its first commercial fusion power plant [5] Group 5: Target Price Adjustments - Multiple institutions raised Nvidia's target price, with Bank of America increasing it from $220 to $235, and Morgan Stanley from $206 to $210 [7] - Other notable adjustments include Citigroup raising its target from $190 to $210, and Bernstein from $185 to $225 [7] - Argus Research significantly raised Nvidia's target price from $150 to $220 [8]

当地时间8月28日，美股市场高开高走，三大指数集体收涨，纳斯达克指数上涨0.53%，标普500指数上涨0.32%，道琼斯指数上涨 0.16%。其中，道指和标普500指数纷纷创下收盘新高，纳指也一度逼近最高纪录。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | DJI | 道琼斯工业指数 | 45636.90c | 71.67 | 0.16% | | IXIC | 纳斯达克指数 | 21705.16c | 115.02 | 0.53% | | SPX | 标普500 | 6501.86c | 20.46 | 0.32% | 热门科技股多数上涨，谷歌A涨超2%，亚马逊涨超1%，苹果、微软、奈飞、Meta、英特尔均出现小幅上涨，而特斯拉跌超1%，英 伟达小幅下跌0.79%。 中概股涨跌不一，纳斯达克中国金龙指数上涨0.14%。宝尊电商涨超12%，老虎证券涨超10%，金山云、爱奇艺涨超6%，迅雷、高 途涨超5%，理想汽车、蔚来、有道、网易涨超2%，百度、斗鱼、小马智行涨超1%。阿里巴巴下跌超2%，腾讯音乐、小鹏汽车下跌 超3%。 英特尔收到现 ...

AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 美联储理事克里斯托弗·沃勒（Christopher Waller）再次呼吁降息。他表示将在9月支持降息25个基点， 并预计未来三到六个月内将有进一步的降息。如果就业数据显示美国经济"显著疲软"，他可能支持大幅 降息。 沃勒在讲话中并未提及库克事件，而是将大部分内容放在劳动力市场上，他表示"风险仍在不断累积"。 在7月的上一次政策会议上，他曾反对维持利率不变的决定，主张通过降息来提振就业。 北京时间周五，沃勒在迈阿密经济俱乐部的讲话中表示，在核心通胀接近2％、基于市场的长期通胀预 期稳固锚定、劳动力市场走弱风险加大的情况下，恰当的风险管理意味着联邦公开市场委员会 （FOMC）现在就应当下调政策利率。 沃勒是美国总统特朗普考虑明年接替鲍威尔出任美联储主席的人选之一。他说，目前并不认为在9月 FOMC会议有必要采取大幅降息，但如果下周五的非农"显示经济显著走弱且通胀仍然受控"，情况可 能发生变化。他补充道： "就目前而言，我预计未来三到六个月内还会有进一步降息，降息的节奏将取决于新公布的 数据。" 这是美联储高级官员在特朗普本周试图罢免理事库克后的首次公开表 ...

美当地时间8月28日，美股高开高走，三大指数集体收涨。纳指涨0.53%，标普500指数涨0.32%，道指涨0.16%。其中，道指、标普500指数均再创收盘新 高。 富时A50期指连续夜盘收涨0.32%，报14810点。 8月28日晚间，离岸人民币汇率大涨约300点，一度涨至7.1173元，为2024年11月6日以来首次突破7.12元，值得注意的是，人民币升值的幅度远超美元贬值幅 度。 纽约尾盘，离岸人民币(CNH)兑美元报7.1202元，较周三纽约尾盘涨337点，日内整体交投于7.1551~7.1183元区间。 COMEX黄金期货涨0.83%，报3477.2美元/盎司；COMEX白银期货涨1.36%，报39.24美元/盎司。 国际原油期货结算价小幅上涨。WTI 10月原油期货收涨0.7%，报64.6美元/桶；布伦特10月原油期货收涨0.84%，报68.62美元/桶。 图片来源：视觉中国 大型科技股多数上涨，谷歌涨超2%，亚马逊涨逾1%，苹果、微软、奈飞、Meta、英特尔小幅上涨；特斯拉跌超1%，英伟达小幅下跌。量子计算概念股领 涨，Quantum Computing涨超8%，Rigetti Computing ...

2025 年 8 月 28 日星期四 【实时热点】 【美国债市】 资料来源：BLOOMBERG、AASTOCKS、WIND、格隆汇、国元证券经纪（香港）整理 研 究 报 告 请务必阅读免责条款 1 【经济数据】 | 重要指数 | 收市价 | 涨跌(%) | 海外市场重要指数 | 收市价 | 涨跌(%) | | --- | --- | --- | --- | --- | --- | | 波罗的海干散货 | 2041.00 | 4.99 | 纳斯达克指数 | 21590.14 | 0.21 | | CME比特币期货 | 112505.00 | 1.15 | 道琼斯工业指数 | 45565.23 | 0.32 | | ICE布油 | 67.80 | 0.86 | 美元指数 | 98.19 | -0.05 | | 伦敦金现 | 3396.50 | 0.09 | 标普500 | 6481.40 | 0.24 | | 美元兑人民币(CFETS) | 7.16 | 0.15 | 日经225 | 42520.27 | 0.30 | 证 券 美企以创纪录速度推进万亿美元股票回购热潮 美联储威廉姆斯：9 月降息需要观察数据 美国 ...