你有没有发现，美联储这两年说话越来越直接了，今天鲍曼一开口，话锋简直冲着特朗普去的。什么出售抵押贷款支持证券，什么紧急工具不能变成常态， 还提关税对通胀的影响，听起来像是在念政策稿，其实每句话都带着火药味。 我第一反应是，鲍曼这是在替美联储划清界限。抵押贷款支持证券，简单说就是当年次贷危机留下的一堆烂摊子，美联储一路买到手里，撑住了市场。结果 现在美国经济看似稳住，通胀却还在高位，他们干脆说要卖掉了。 这个动作让我想到2008年后的量化宽松，美联储也是先拼命买债救市，再慢慢退出。区别是这次他们一句"紧急工具不能常用"说得特别决绝，等于告诉市 场：别再幻想央行一直兜底。 更有意思的是，美联储这次放话和股市节奏也呼应。过去一周标普500连续下跌，投资者本来期待央行放点鸽，结果鲍曼偏偏强调要卖资产。 我查了下数据，美国通胀从2021年到2022年一度飙到9%以上，今年虽然回落，但8月的核心通胀还在3.2%左右，远高于目标2%。 关税在里面到底起了什么作用？2018年特朗普对中国商品加征关税后，美国商务部的数据就显示，进口商把成本转嫁给消费者，消费品价格明显上升。结果 美联储当年说"通胀会回到2%可现实是一波波涨价潮 ...

据路透社26日报道，当地时间周四（25日），特朗普在白宫会见记者时一如既往地吹嘘着自己的"关 税"功绩，"过去其他国家对我们并不公平，但现在情况不同了，美国从未有过如此好的局面……多亏了 关税和贸易协议，目前正在进行的交易金额达到9500亿美元，而在此之前我们一分钱都没拿到过。" 【文/观察者网 阮佳琪】 尽管韩国方面强调，如果在缺乏保障措施的情况下满足美方在贸易谈判中提出的巨额投资要求，该国或 将遭遇严重金融危机，但美国总统特朗普仍坚持要求韩国"预付款"。 紧接着他说，"我们将从日本获得5500亿美元，从韩国获得3500亿美元，这些都是预先付款 （upfront）。我们通过关税获得了巨额收入，这种规模是前所未有的。我们从未见过这种情况，任何国 家都未曾见过。" 随李在明赴美访问的韩国财政部一名高级官员，在被问及特朗普"预付款"的相关言论时，同样拒绝置 评。 韩媒《朝鲜日报》对此解读称，特朗普这一表态意在重申，这笔巨额将会是韩国在双边贸易协议下获得 关税减免的"前提条件"。 美韩贸易谈判陷入僵局之际，特朗普的言论也进一步引发投资者焦虑。他们担心首尔最终可能会得到一 份不公平的协议，甚至可能根本无法达成协议。 ...

纳斯达克中国金龙指数收跌1.56%，热门中概股多数下跌，金山云跌超10%；蔚来、理想汽车跌超5%；哔哩哔哩跌超4%；百度跌3%，爱奇艺、阿里巴巴 跌超2%；小鹏汽车涨超2%。 富时A50期指连续夜盘收涨0.11%，报14983点。 每经编辑｜何小桃 杜宇 当地时间9月26日，美股三大指数集体收涨，道指上涨299.97点，涨幅0.65%；纳指涨0.44%；标普500指数涨0.59%。 热门科技股多数上涨，英特尔涨超4%，微软、亚马逊涨幅不足1%，甲骨文跌超2%。金属与采矿、汽车股涨幅居前，世纪铝业涨超7%，泛美白银、美国 黄金公司、黄金资源涨超4%，Lucid、福特汽车涨超3%。加密矿企、稀土概念跌幅居前，Hut 8跌近5%，TeraWulf跌超1%。艺电收涨15%，创最近六年来 最佳单日表现，报道称沙特主权财富基金PIF和银湖资本考虑将其私有化。 特斯拉报440.40美元，涨幅4.02%，市值为14643.96亿美元。其市值一夜增加约566亿美元（约合人民币4038亿元）。 剔除了波动较大的食品和能源部分的核心PCE物价指数同比上涨2.9%，预期为2.9%，前值为2.9%；核心PCE物价指数环比上涨0.2%， ...

Core Insights - Consumer spending continues to support the U.S. economy, with personal consumption expenditures (PCE) showing steady growth despite rising tariffs and inflation pressures [1][3] Economic Indicators - The PCE index increased by 0.3% month-on-month in August, up from 0.2% in July, while the year-on-year increase rose to 2.7% from 2.6% [2] - Core PCE, excluding food and energy, remained stable with a month-on-month increase of 0.2% and a year-on-year increase of 2.9% [2] - Consumer spending, which accounts for over two-thirds of economic activity, grew by 0.6% in August, marking the third consecutive month of growth [2][3] Sector Performance - Service prices rose by 0.3%, driven by increases in air travel, hotel accommodations, financial services, and utilities, contributing to PCE inflation [2] - Spending in transportation and dining out has increased, indicating a robust consumer demand in the service sector [3] Income Growth - Personal income rose by 0.4% month-on-month in August, with wage growth outpacing inflation, enhancing purchasing power [3] GDP Growth - Strong consumer spending contributed to a 3.8% annualized growth rate in GDP for the second quarter, the fastest in nearly two years, with third-quarter GDP growth expectations around 2.5% [3] Monetary Policy Outlook - The latest data may bolster the Federal Reserve's confidence in further rate cuts, with a 90% probability of a rate cut in October [5] - The Fed's decision will depend on upcoming employment and consumer price reports, with inflation remaining a critical concern [5][6]

9月26日，美股三大指数集体拉升，道指收涨0.65%，本周累计下跌0.15%；纳指涨0.44%，本周累计下跌0.65%；标普500指数涨0.59%，本周累计下跌 0.31%。 | 纳斯达克 | 道琼斯工业平均 | | DJIA | | | IXIC | 标普500 | | | | | SPX | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 22484.07 | 46247.29 | | 299.97 | | | 99.37 | | 6643.70 | | | | 38.98 | | | | | 0.65% | | | 0.44% | | | | | | 0.59% | | 1 - 1 - | 46353.03 | | 0.88% | 22488.18 | | | 6648.97 | | | and and a series and the same of the same of the states of the | | | | 22436.44 | 46150.18 renar | | 0 ...

Market Overview - The S&P 500 index rose nearly 0.6%, ending a three-day decline, with the Dow Jones increasing by 299.97 points (0.65%) to 46247.29 points, and the Nasdaq up 0.44% to 22484.07 points [1] - August personal income increased by 0.4% month-over-month, while personal consumption expenditures (PCE) rose by 0.6%, both exceeding expectations [1][2] - The PCE price index increased by 0.3% month-over-month in August, up from 0.2% in July, while the core PCE remained stable at 0.2% [2] Individual Stocks - PACCAR Inc. (PCAR) saw a 5.1% increase, benefiting from new import tariffs announced by Trump affecting heavy trucks [4] - Electronic Arts (EA) surged 14.4% amid reports of a potential privatization deal valued at $50 billion, with investors including Silver Lake and Saudi Arabia's Public Investment Fund [4][5] Commodity Market - International oil prices rose, with WTI crude oil increasing by 1.14% to $65.72 per barrel, and Brent crude up 1.02% to $70.13 per barrel [5] - Gold prices also climbed, with COMEX gold futures reaching $3810 per ounce before closing at $3792.56, a 0.56% increase [5]

Group 1 - Apple is reportedly developing an application similar to ChatGPT to assist in testing the new version of Siri [3] - Electronic Arts' stock surged by 15% as it nears a $50 billion privatization deal [3] - Starbucks' Chief Technology Officer resigned, and the company has appointed an interim leader [3] Group 2 - Flipkart, which is planning to go public, has received key approvals and will relocate its headquarters to India [3] - Citi Research warns that tariffs may lead to a slowdown in U.S. consumer spending [3] - The FAA has partially restored the airworthiness certificate for certain Boeing models [3] Group 3 - United Airlines announced that its first aircraft equipped with Starlink has received FAA approval [3] - Li Auto's stock fell by 3.1% after announcing the launch of its five-seat electric SUV, the Li Xiang i6 [3] - TeraWulf, supported by Google, plans to raise $3 billion to expand its data center operations [3] Group 4 - OpenAI has had a historic week, redefining the AI arms race for investors [3] - Foreign investors are significantly increasing their purchases of U.S. stocks despite trade tensions [3] - The Federal Reserve's Vice Chair Bowman suggests that the balance sheet should be reduced to the lowest possible level [3]

Core Viewpoint - President Trump announced a 100% tariff on pharmaceutical products entering the US starting October 1st unless companies establish manufacturing plants in the US, with the EU and Japan exempt from this tariff [1] Group 1: Market Reaction - The pharmaceutical sector is responding positively to the news, with stocks of major pharmaceutical companies trading higher [2] - This tariff announcement is perceived as a "d-risking event" for the pharmaceutical industry, alleviating investor uncertainty since the initial tariff announcement on April 2nd [3] Group 2: Manufacturing Plans - Many pharmaceutical companies have already announced plans to increase manufacturing in the US, which may mitigate the impact of the tariffs [4] - A comprehensive list of companies that have made public commitments to expand manufacturing includes major players in both the US and Europe, indicating a proactive approach to the new tariff environment [5] Group 3: Future Investments - Companies in the pharmaceutical sector typically have long-term plans (5 to 10 years) for capital expenditures and manufacturing growth, which may have been accelerated due to the tariff announcement [7] - There is an expectation that new manufacturing plants will begin construction soon, reflecting a genuine commitment to increasing domestic production [8]

When President Donald Trump made his “Liberation Day” speech on April 2, announcing sweeping tariffs across a range of sectors, markets reacted sharply. Investors feared a replay of the disruptive trade battles of his first term, and stocks dropped as they tried to assess how new levies might ripple through global supply chains. But six months on, the story looks different. Much of the initial panic has faded, replaced by recognition that the real economic impact of Trump’s tariffs has been softened by ca ...

Ask Wharton School professor of finance and wisdom chief economist Jeremy Seagull. Uh, Professor Seagull, what was your take on on the report today. Obviously came in line as expected, but year-over-year inflation at the headline up 2.9% still above the Fed's target rate.>> Yeah, most certainly. But but the news was good. It hit all the targets.Uh, nothing no upside uh surprise and and yesterday strong strong economic data. I think that uh both on the the trade deficit going down and on the durable goods re ...