五一长假将至，黄金市场多空进入激烈争夺当中，4月份受特朗普贸易关税影响，黄金市场上演暴涨暴跌的行情，4月初自3155下跌200美元，之后自2960 涨到3500美元，涨幅超500美元，再从3500滑铁卢至3300美元下方！ 一个月时间，黄金的波幅跌近1000美元，这在历史上也是很罕见的，全球对等关税引发恐慌性的抛盘，待市场冷静下来后大量资金涌入黄金市场推高金 价。 随着金价越来越高，价格波动的幅度也越来越大，以前主要的波动集中在美盘，这个月大部分剧烈的波动发生在亚盘时段，尤其是早上开盘后波动非常动 辄50，100美元。 为什么假期会出现大的单边波动？原因在于国内黄金停盘，无法有效与国际接轨，大量获利盘选择离场持币过节，担心假期受国际市场消息影响导致不可 控风险加剧，再加上节假日保证金提高，倒逼投资者补充保证金或离场。 机会，往往是在这个时候出现的，恐慌的背后就是机遇，上周黄金收较长上影线，多头动力有所减缓，市场避险情绪也慢慢从贸易冲突中开始降温，美股 等资产下跌有所收敛。 长期而言，黄金向下的空间有限，但对于杠杆交易者，不仅要关注长期大方向的预判，更要把握当下多空的转换，3385美元上周反弹并没有突破，也就是 ...

晨报 煤焦 煤焦：需求承压 盘面维持低位震荡 投资咨询业务资格： 负责人：赵 毅 从业资格号：F3059924 投资咨询号：Z0002978 电话：010-62688526 成 材：武秋婷 从业资格号：F3078638 投资咨询号：Z0018248 电话：010-62688555 从业资格号：F3038114 投资咨询号：Z0014834 电话：010-62688541 原材料： 冯艳成 从业资格号：F3059529 投资咨询号：Z0018932 电话：010-62688516 本报告中的信息均来源于公开的资料，我公司对信息的准确性及完整性不作任何保证，也不保证包含的信 息和建议不会发生变更，我们已力求报告内容的客观、公正，但文中观点、结论和建议仅供参考，投资者据此 做出的任何投资决策与本公司和作者无关。 地址：北京市海淀区海淀大街 8 号 19 层 ☎ 400-700-6700 www.zgfcc.com 有色金属：于梦雪 从业资格号：F03127144 投资咨询号：Z0020161 电话：021-20857653 成文时间： 2025 年 4 月 28 日 逻辑：上周，贸易关税形势稍有缓和，但对商品价格的 ...

Market Environment - The market environment is complex with significant volatility, making accurate predictions difficult, leading to a recommendation for reduced trading and increased observation [2] - The extreme market conditions from last week are expected to stabilize, returning to a more technical trading environment [2] Economic Indicators - This week is significant due to the non-farm payroll data, trade tariffs, geopolitical changes, and Federal Reserve policies, alongside unemployment claims data [2] Gold Market Analysis - The dollar has shown a slight rebound after forming a bottom, which is expected to support an increase in gold prices [3] - Despite a drop from 3500 to 3260, the long-term trend for gold remains bullish, with potential targets of 3420, 3500, and possibly breaking above 3500 [3] - Current gold trading is characterized by low-level fluctuations, with key resistance at 3370; a break above this level could lead to significant upward movement [4] Silver Market Analysis - The international silver market has shown a strong trend, with expectations of reaching around 34, while maintaining support at 32 [4] - Domestic silver is experiencing high-level fluctuations, with a focus on the 8400/8150 range for potential trading opportunities [5] Oil Market Analysis - The international oil market is currently in a weak range, with a trading range of 64.5 to 61.5; breaking this range could lead to a more definitive trend [5] - Fuel oil has also been in a consolidation phase, with potential for upward movement if it can establish a solid base [5]

Financial Data and Key Metrics Changes - The company reported a fully diluted EPS of $0.38, a 65% increase compared to the prior year [4][12] - Net income for the quarter was $0.38 per diluted share, up 65% over the prior year [12] - Return on average assets was 1.19% and return on average equity was 14.15% [13] - Net interest margin (NIM) was 3.10%, down slightly from the prior quarter [13][22] - Efficiency ratio improved to 52.79% [13] - Tangible book value per share increased by $0.42 to $11.23 [13] Business Line Data and Key Metrics Changes - Average loans increased by $205.3 million or 11.5% compared to Q1 2024 [7][18] - Average deposits grew by $166.6 million or 8.1% compared to the same quarter last year [7] - Loan production was robust, with end-of-period net loan growth of $63.4 million or 13% annualized compared to the prior quarter [19] - Non-interest income was 16.3% of total revenue, consistent with prior quarters and higher than Q1 2024 [34] Market Data and Key Metrics Changes - The Florida economy is forecasted to grow steadily in 2025, with a growing labor force and low unemployment [7][40] - The company anticipates high-single digit to low double-digit loan and deposit growth in the upcoming quarters [7][41] Company Strategy and Development Direction - The company emphasizes relationship-driven organic growth and has onboarded additional senior bankers to support business lending and deposit production [6][8] - The strategy includes cautious optimism regarding economic uncertainties and a focus on maintaining credit quality [6][41] - The company plans to continue disciplined expense control to improve operating leverage [41] Management's Comments on Operating Environment and Future Outlook - Management noted heightened volatility in the market due to recent tariff announcements but expressed cautious optimism about the diversified business lines [5][6] - The company is prepared for both upward and downward shifts in interest rates, reflecting a neutral balance sheet position [25] - The management expects to see improvements in non-performing assets and classified loans in the upcoming quarters [82] Other Important Information - The Board of Directors declared a cash dividend of $0.10 per share, to be paid on June 5, 2025 [9][10] - The company has a strong focus on maintaining a robust balance sheet while returning capital to investors [10] Q&A Session Summary Question: What drove the deposit growth in the quarter? - The deposit growth was seen in key areas like correspondent banking and business banking, with a balanced contribution from various segments [47] Question: What is the outlook for NIM? - The guidance for NIM is flat to slightly up, with expectations of rate cuts benefiting deposit costs [49][54] Question: What is the impact of specialty verticals on deposits? - New hires in production personnel for various verticals are expected to support continued deposit growth [60] Question: How should we think about the expense base moving forward? - The expense base is expected to gradually increase due to new hires and performance-based bonuses [65] Question: What is the focus regarding capital? - The focus remains on organic growth rather than buybacks, given solid growth prospects [66] Question: What is the outlook for credit quality? - Management anticipates improvements in non-performing and classified loans in the second quarter [82]

Eastman Chemical Company (NYSE:EMN) Q1 2025 Earnings Conference Call April 25, 2025 8:00 AM ET Company Participants Greg Riddle - IR Mark Costa - Board Chair & CEO William McLain - EVP & CFO Conference Call Participants Patrick Cunningham - Citigroup David Begleiter - Deutsche Bank Aleksey Yefremov - KeyCorp Vincent Andrews - Morgan Stanley Jeff Zekauskas - JPMorgan Kevin McCarthy - Vertical Research Partners Frank Mitsch - Fermium Research Michael Sison - Wells Fargo James Cannon - UBS Operator Good day, e ...

撰 文 / 钱亚光 设 计 / shelly 来 源 / www.ttnews.com，www.freightwaves.com 4月23日，在沃尔沃卡车北美公司（Volvo Trucks North America, VTNA）和Mack卡车2025年第一季 度财报电话会议的最后时刻，沃尔沃集团首席执行官马丁·伦德斯泰特（Martin Lundsted）抛出了一 个重磅消息，该集团北美卡车业务将在未来几周内裁员约1000人。 Mack卡车及其前母公司雷诺工业车辆公司在2000年被沃尔沃卡车北美公司以18亿美元收购。 VTNA 和Mack卡车在新河谷（3400 人）、利哈伊谷（2800 人）和哈格斯敦（1700 人）的制造工厂 共雇用了 7900 名员工。 此前预计两家公司将有约800名员工被解雇。伦德斯泰特表示，称由于需求疲软和经济不确定性， 这两家公司还将再裁减约200个工作岗位。 沃尔沃集团首席财务官马茨·巴克曼（Mats Backman）表示，由于关税的影响以及所谓的"抢购 潮"预期落空，沃尔沃下调了业绩预期。 4月中旬有消息称，Mack公司位于利哈伊谷的装配厂将有多达 350 名员工被通知离职。Tr ...

Core Viewpoint - The global financial markets are closely monitoring the potential impacts of President Trump's trade tariffs, which could affect stocks across various countries and sectors. Two scenarios are presented for retail investors to consider regarding their portfolio strategies [1][2]. Group 1: Trade Environment Scenarios - A challenging trade environment could lead to sustained global GDP growth slowdown, but this scenario is deemed less likely as effective de-globalization would require significant cuts to the world economy [2]. - A more probable scenario involves a resolution of trade issues between the United States and its trading partners, alleviating fears related to tariffs [2]. Group 2: Investment Opportunities - Three stocks are highlighted as strong investment opportunities once tariff fears subside: Alibaba Group (NYSE: BABA), West Fraser Timber Co. (NYSE: WFG), and Canadian National Railway (NYSE: CNI) [3]. - Alibaba Group is noted for its strong market position despite recent negative sentiment surrounding China's stock market, with a current price of $119.16 and a potential price target of $150.36, indicating a possible upside of 26% [4][7]. - West Fraser Timber, a major Canadian lumber exporter, is expected to recover as clarity returns to the market, with a current price of $72.75 and a price target of $100.40, suggesting a potential increase of 38% [8][11]. - Canadian National Railway is positioned to benefit from increased lumber production and exports, with a current price of $97.58 and a price target of $120.36, indicating a potential upside of 23% [13][15].

Banner (BANR) Q1 2025 Earnings Call April 17, 2025 11:00 AM ET Company Participants Mark Grescovich - President & Chief Executive OfficerRich Arnold - Head-Investor RelationsJill Rice - Executive VP & Chief Credit OfficerRobert Butterfield - Executive VP & CFODavid Feaster - Director - BankingAndrew Terrell - Managing DirectorKelly Motta - Managing DirectorTimothy Coffey - MD & Associate Director of Depository Research Conference Call Participants Jeff Rulis - MD & Senior Research AnalystAndrew Liesch - MD ...

"美方肆意加征单边关税，严重违反国际经贸规则，也违背基本的经济规律和常识，造成当前世界经 济、全球市场和多边贸易体制面临严重冲击和剧烈动荡，美方对此应负全部责任。"商务部新闻发言人 称。 4月11日，国务院关税税则委员会公告，自4月12日起，调整原产于美国的进口商品加征关税税率，由此 前的84%提高至125%。这是近期国务院关税税则委员会发布的第二则调整加征关税措施公告。 "鉴于在目前关税水平下，美国输华商品已无市场接受可能性，如果美方后续对中国输美商品继续加征 关税，中方将不予理会。"国务院关税税则委员会在公告中表示。 商务部新闻发言人4月11日指出，美东时间4月10日，美方公布行政令，进一步提高对中国产品加征 的"对等关税"。美方行政令公布的对中国产品加征的税率为41%，比此前美方所称的加征关税税率还高 20个百分点。 本周内，美国多次调整所谓的"对等关税"政策，加上3月初以来美国就所谓芬太尼问题施加的20%关 税，截至目前，美国对中国产品征收的额外关税已达145%。 该负责人强调，美方对华轮番加征畸高关税已经沦为数字游戏，在经济上已无实际意义，只会更加暴露 出美方将关税工具化、武器化，搞霸凌胁迫的伎俩， ...

国 务 院 关 税 税 则 委 员 会 今 天 发 布 公 告 ， 2 0 2 5 年 4 月 1 0 日 ， 美 国 政 府 宣 布 对 中 国 输 美 商 品 征 收"对等关税"的税率进一步提高至1 2 5%。美方对华加征畸高关税，严重违反国际经贸规则， 也违背基本的经济规律和常识，完全是单边霸凌胁迫做法。 根据《中华人民共和国关税法》、《中华人民共和国海关法》、《中华人民共和国对外贸易 法》等法律法规和国际法基本原则，经国务院批准，自2 0 2 5年4月1 2日起，调整对原产于美国 的进口商品加征关税措施。有关事项如下： 本期编辑 金珊 二、其他事项按照《国务院关税税则委员会关于对原产于美国的进口商品加征关税的公告》 （税委会公告2 0 2 5年第4号）执行。 来源 | 央视新闻 SFC 一、调整《国务院关税税则委员会关于调整对原产于美国的进口商品加征关税措施的公告》 （税委会公告2 0 2 5年第5号）规定的加征关税税率， 由8 4%提高至1 2 5% 。鉴于在目前关税 水平下，美国输华商品已无市场接受可能性，如果美方后续对中国输美商品继续加征关税， 中方将不予理会。 ...