Group 1 - The stock market has experienced significant gains this year, with the S&P 500, Nasdaq, and FTSE 100 indices showing unexpected upward trends [1] - The FTSE 100 index is on track to achieve its best annual performance since the global financial crisis, while the DAX index has also reached historical highs [1] - Many U.S. companies are expected to report third-quarter earnings this week, with current performance appearing to exceed expectations, potentially pushing the S&P 500 towards the 7000-point mark and the Nasdaq 100 towards 25000 points [1] Group 2 - The S&P 500's expected price-to-earnings ratio exceeds 25, indicating a rare level of market enthusiasm in modern history, while the Nasdaq's ratio stands at 32, suggesting the market may not be prepared for any disappointing signals [1] - The last time the Nasdaq reached such high valuation levels was during the internet bubble, highlighting the market's difficulty in accurately identifying potential winners in new technology [1] - As the market becomes captivated by the potential of artificial intelligence, unrealistic valuations are emerging, with traders aware that the market is approaching bubble territory [2]

Core Viewpoint - Goldman Sachs analysis team indicates that while there are signs of a bubble in the current U.S. stock market, particularly with the strong performance of tech stocks, the ongoing rally is primarily driven by fundamental growth rather than irrational speculation [1][2] Group 1: Market Conditions - The report highlights that despite concerns about a potential bubble due to the ongoing bull market and rising tech stocks, there are significant differences compared to past periods of excessive speculation [1] - Current investor behavior and market pricing exhibit some characteristics similar to previous bubbles, including rising absolute valuation levels, increased market concentration, and heightened capital intensity among leading firms [1] Group 2: Company Performance - Leading companies that have seen the largest price increases generally possess exceptionally strong balance sheets, contrasting with typical bubble markets where many unprofitable new entrants dominate [1] - The AI sector is currently led by a few established giants rather than a large number of unprofitable newcomers, which is a hallmark of typical bubble conditions [1] Group 3: Valuation Insights - Although valuations in the tech sector have become relatively tight, they have not yet reached the levels seen during historical stock market bubbles [1] - The report notes that bubbles typically occur when both stock prices and valuations soar, leading to a total market capitalization that exceeds the potential future cash flows of related companies [1] Group 4: Investment Strategy - Goldman Sachs concludes that while the market does not appear to be in a bubble, the high market concentration and increasing competition in the AI sector suggest that investors should continue to focus on portfolio diversification [2]

Core Insights - OpenAI plans to collaborate with chip manufacturers like Nvidia, Broadcom, and AMD to deploy massive computing power, requiring over $1 trillion in investment over the next five years [1][2] - The latest agreement includes a commitment to provide 26 gigawatts (GW) of computing capacity, comparable to New York State's peak summer electricity demand [1] - Citi estimates that achieving 1 GW of operational computing capacity will require an investment of $50 billion in hardware, energy infrastructure, and data center construction [1] Financial Projections - By 2030, OpenAI's capital expenditures are projected to reach $1.3 trillion, while revenues are expected to be only $163 billion, highlighting a significant cost-revenue imbalance [2] - OpenAI has made substantial commitments to global AI infrastructure, including a $300 billion partnership with Oracle for the Stargate AI infrastructure project, which aims to provide 10 GW of computing power [2] Market Concerns - There are growing concerns about the potential overestimation of AI demand, with analysts expressing uncertainty about the economic impact of OpenAI's initiatives [3] - Another concern is whether the U.S. power infrastructure can expand quickly enough to meet the energy demands of new AI projects, which could affect the return on OpenAI's investments [3] Potential Gains for Chip Manufacturers - If OpenAI achieves its goals, chip manufacturers could see substantial revenue gains, with estimates suggesting Nvidia could earn up to $500 billion from its partnership with OpenAI [3] - Broadcom is also expected to benefit significantly, with potential revenues exceeding $100 billion from its collaboration with OpenAI [3]

Core Viewpoint - Citigroup highlights the presence of potential bubbles in various industries, particularly in relation to current stock valuations and price-to-earnings ratios [1] Group 1 - The CFO of Citigroup expressed confidence in the company's business and its ability to serve clients despite concerns about overvaluation in certain sectors [1] - The statement suggests that while the company feels positive about its operations, it acknowledges the possibility of inflated valuations in the market [1] - Citigroup anticipates that the effects of these valuation concerns will become clearer over time [1]

Market Overview - The three major indices in the U.S. experienced a strong rebound, with President Trump indicating he would not implement the threatened "significant tariff increases," which provided hope for negotiations [1] - The S&P 500 index reached a new high, driven by a surge in technology stocks, although concerns about inflated valuations and potential market bubbles were raised [1] - The Dow Jones Industrial Average rose by 587.98 points (1.29%) to 46067.58, the Nasdaq increased by 490.178 points (2.21%) to 22694.608, and the S&P 500 gained 102.21 points (1.56%) to 6654.72 [1] European Market - The German DAX30 index increased by 139.27 points (0.57%) to 24406.07, while the UK FTSE 100 rose by 14.38 points (0.15%) to 9441.85 [2] - Other European indices also saw gains, with the French CAC40 up by 16.26 points (0.21%) to 7934.26 and the Euro Stoxx 50 rising by 37.73 points (0.68%) to 5569.05 [2] Commodities - Crude oil prices saw an increase, with light crude for November delivery rising by $0.59 to $59.49 per barrel (1.0% increase) and Brent crude for December delivery up by $0.59 to $63.32 per barrel (0.94% increase) [2] Cryptocurrency - Bitcoin rose by 0.71% to $115,909, while Ethereum increased by over 2.6% to $4,270.14 [3] Precious Metals - Spot gold surpassed $4,111, gaining over 2% during the day, while spot silver broke through $52 [4] Macroeconomic Insights - Federal Reserve official Paulson indicated support for two more rate cuts this year, each by 25 basis points, suggesting that tariffs should not significantly impact consumer prices [5] - Morgan Stanley analysts forecast continued weakness in organic sales for consumer goods in Q3, with expectations of a slight improvement by 2026, driven partially by tariff-related price increases [6][7] - Standard Chartered analysts noted that if U.S. economic momentum persists, further rate cuts in 2026 may be unlikely, potentially leading to higher dollar and U.S. Treasury yields [7] Company News - Microsoft is facing a new antitrust class action lawsuit, accused of illegally raising ChatGPT prices through a secret agreement with OpenAI [8] - Strategy, a Bitcoin reserve company, invested $27 million to increase its Bitcoin holdings, now totaling 640,250 coins, representing about 3% of the circulating supply [9] - Oracle's CEO expressed confidence in OpenAI's ability to cover its substantial cloud infrastructure costs, estimated at $60 billion annually [10]

Core Viewpoint - The U.S. stock market experienced a strong rebound, with the S&P 500 index rising by 1.6% and the Nasdaq 100 index increasing by 2.1%, reversing previous losses from last week [1] Group 1: Market Reactions - The collaboration between OpenAI and Broadcom to develop custom chips and networking equipment provided a positive boost to the market [1] - The ongoing AI capital expenditure trend is expected to sustain market strength, according to Sevens Report's Tom Essaye [1] Group 2: Valuation Concerns - Despite the strong performance of tech stocks pushing the S&P 500 to new highs, there are concerns about rising valuations leading to potential market bubbles [1] - Gabelli fund manager John Belton acknowledged the presence of some overheating in specific sectors but cautioned against oversimplifying the situation by labeling it a "bubble" [1]

1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Viewpoints of the Report Based on macro - fundamental and technical analyses, the report predicts the trends of various futures contracts on October 13, 2025. Stock index futures are expected to oscillate weakly; ten - year and thirty - year treasury bond futures are likely to oscillate strongly; gold and silver futures are predicted to oscillate strongly; while copper, tin, polysilicon, coking coal, glass, crude oil, fuel oil, and natural rubber futures are expected to oscillate weakly [1][2]. 3. Summary by Relevant Catalogs 3.1 Futures Market Forecast - **Stock Index Futures**: IF2512, IH2512, IC2512, and IM2512 are expected to oscillate weakly. Resistance and support levels are provided for each contract [2]. - **Treasury Bond Futures**: The ten - year T2512 and thirty - year TL2512 are likely to oscillate strongly, with specific resistance and support levels [2]. - **Precious Metal Futures**: Gold (AU2512) and silver (AG2512) futures are expected to oscillate strongly, with resistance and support levels given [2][3]. - **Base Metal Futures**: Copper (CU2511), aluminum (AL2511), alumina (AO2601), zinc (ZN2511), nickel (NI2511), and tin (SN2511) futures are expected to oscillate weakly, with corresponding resistance and support levels [3][4]. - **Other Commodity Futures**: Polysilicon (PS2511), lithium carbonate (LC2511), rebar (RB2601), hot - rolled coil (HC2601), iron ore (I2601), coking coal (JM2601), glass (FG601), soda ash (SA601), crude oil (SC2511), fuel oil (FU2601), PTA (TA601), PVC (V2601), soybean meal (M2601), soybean oil (Y2601), palm oil (P2601), and natural rubber (RU2601) futures are expected to oscillate weakly, with resistance and support levels provided. Methanol (MA601) is expected to have a wide - range oscillation [6][7][8]. 3.2 Macro - news and Trading Tips - China will impose a special port fee on US - related ships starting from October 14 in response to the US's 301 investigation restrictions on China's shipbuilding and other industries [9]. - Chinese Vice - Premier He Lifeng met with executives of well - known multinational companies, stating that China will continue to expand high - level opening - up [9]. - Vice - Premier Zhang Guoqing investigated the development of specialized and sophisticated enterprises with unique features in Zhejiang [9]. - The Ministry of Commerce responded to US tariff threats, stating that China is opposed to tariff wars and will take corresponding measures if the US persists [10][11]. - The market regulatory authority launched an investigation into Qualcomm for its illegal acquisition of Autotalks [11][12]. - The central bank announced the liquidity injection in September, with SLF, MLF, short - term reverse repurchase, and buy - out reverse repurchase having net injections, while PSL had a net withdrawal [11]. 3.3 Commodity Futures - related Information - The Shanghai Futures Exchange adjusted the daily price limit and margin ratios for nickel, tin, butadiene rubber, natural rubber, pulp, and offset printing paper futures contracts starting from the settlement on October 14 [15]. - The Shanghai International Energy Exchange adjusted the daily price limit and margin ratios for 20 - gauge rubber and container freight index (European line) futures contracts starting from the settlement on October 14 [16]. - On October 10, international precious metal futures generally rose, with COMEX gold rising 1.58% and COMEX silver rising 0.76%. International oil prices fell, with WTI crude oil falling 5.32% and Brent crude oil falling 4.8%. London base metals fell across the board [16][17]. 3.4 Futures Market Analysis and Forecast - **Stock Index Futures**: On October 10, IF2512, IH2512, IC2512, and IM2512 all opened slightly lower, rebounded but faced resistance and then declined. Short - term downward pressure increased. In the future, they are expected to have a weakly wide - range oscillation in October 2025 [18][19][20]. - **Treasury Bond Futures**: On October 10, ten - year and thirty - year treasury bond futures closed lower. The ten - year T2512 and thirty - year TL2512 are expected to oscillate strongly on October 13 [40][44]. - **Gold Futures**: On October 10, the gold futures AU2512 opened slightly higher, then declined. In the night session, it opened slightly higher and oscillated upwards. It is expected to oscillate strongly in October 2025 and reach new highs [48]. - **Silver Futures**: On October 10, the silver futures AG2512 opened with a gap up, then declined. It is expected to oscillate strongly in October 2025 and reach new highs [53]. - **Copper Futures**: On October 10, the copper futures CU2511 opened higher, then declined. It is expected to oscillate weakly on October 13 [60]. - **Aluminum Futures**: On October 10, the aluminum futures AL2511 opened slightly higher, then declined slightly. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [65]. - **Alumina Futures**: On October 10, the alumina futures AO2601 opened slightly higher, then declined. It is expected to have a weakly wide - range oscillation in October 2025 and oscillate weakly on October 13 [71]. - **Zinc Futures**: On October 10, the zinc futures ZN2511 opened slightly higher, then declined slightly. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [75]. - **Nickel Futures**: On October 10, the nickel futures NI2511 opened slightly lower, then declined. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [80]. - **Tin Futures**: On October 10, the tin futures SN2511 opened slightly higher, then declined slightly. It is expected to have a strongly wide - range oscillation in October 2025 and oscillate weakly on October 13 [84]. - **Polysilicon Futures**: On October 10, the polysilicon futures PS2511 opened slightly lower, then declined. It is expected to oscillate weakly on October 13 [89]. - **Lithium Carbonate Futures**: On October 10, the lithium carbonate futures LC2511 opened slightly lower, then declined. It is expected to have a weakly wide - range oscillation in October 2025 and oscillate weakly on October 13 [89][90]. - **Rebar Futures**: On October 10, the rebar futures RB2601 opened slightly higher, then declined slightly. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [94]. - **Hot - rolled Coil Futures**: On October 10, the hot - rolled coil futures HC2601 opened slightly higher, then declined slightly. It is expected to oscillate weakly on October 13 [99]. - **Iron Ore Futures**: On October 10, the iron ore futures I2601 opened slightly higher, then had a strong oscillation. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [102]. - **Coking Coal Futures**: On October 10, the coking coal futures JM2601 opened slightly higher, then declined slightly. It is expected to have a wide - range oscillation in October 2025 and oscillate weakly on October 13 [106]. - **Glass Futures**: On October 10, the glass futures FG601 opened slightly higher, then declined. It is expected to have a weakly wide - range oscillation in October 2025 and oscillate weakly on October 13 [109]. - **Soda Ash Futures**: On October 10, the soda ash futures SA601 opened slightly higher, then declined. It is expected to have a weakly wide - range oscillation in October 2025 and oscillate weakly on October 13 [112]. - **Crude Oil Futures**: On October 10, the crude oil futures SC2511 opened flat, then declined. It is expected to oscillate weakly in October 2025 and on October 13 [115]. - **Fuel Oil Futures**: On October 10, the fuel oil futures FU2601 opened slightly lower, then declined. It is expected to oscillate weakly on October 13 [119]. - **PTA Futures**: On October 10, the PTA futures TA601 opened slightly lower, then declined. It is expected to oscillate weakly on October 13 [119][120]. - **PVC Futures**: On October 10, the PVC futures V2601 opened slightly higher, then declined. It is expected to oscillate weakly on October 13 [123]. - **Methanol Futures**: On October 10, the methanol futures MA601 opened flat, then oscillated upwards. It is expected to have a wide - range oscillation on October 13 [125]. - **Soybean Meal Futures**: On October 10, the soybean meal futures M2601 opened slightly higher, then declined slightly. It is expected to oscillate weakly on October 13 [127]. - **Soybean Oil Futures**: On October 10, the soybean oil futures Y2601 opened slightly lower, then declined slightly. It is expected to oscillate weakly on October 13 [129]. - **Palm Oil Futures**: On October 10, the palm oil futures P2601 opened flat, then declined. It is expected to oscillate weakly on October 13 [132]. - **Natural Rubber Futures**: On October 10, the natural rubber futures RU2601 opened slightly higher, then declined. It is expected to oscillate weakly on October 13 [135].

Core Viewpoint - Global central bank officials and finance ministers are facing new concerns about the risk of a market crash, particularly related to a potential bubble in AI-related stocks, as they gather for the IMF/World Bank autumn meetings in Washington [1] Group 1: Market Concerns - IMF President Kristalina Georgieva acknowledged risks to financial stability, comparing current valuations to those seen during the internet bubble 25 years ago, warning that a significant correction could hinder global economic growth and exacerbate vulnerabilities, especially for developing countries [1] - The Bank of England and the European Central Bank have also expressed concerns about the risk of a "significant market adjustment," indicating a broader recognition of potential market instability [2][4] - The upcoming IMF Global Financial Stability Report and World Economic Outlook are expected to draw heightened attention due to these concerns [4] Group 2: Economic Data and Indicators - In the U.S., economic data releases are delayed due to a government shutdown, with investors focusing on Federal Reserve Chair Jerome Powell's assessment of the labor market and inflation [5] - In Asia, key data releases include China's export growth and India's consumer price index, which are anticipated to provide insights into how these economies are navigating global uncertainties [6] - In Europe, the focus will be on the upcoming statistics, including Germany's ZEW investor confidence index and the Eurozone's industrial production data, which may influence market sentiment [7]

1. Report Industry Investment Rating No information provided. 2. Core Views of the Report - The overall market presents a complex and diverse situation. In the overnight night - market, London basic metals mostly declined, international oil prices fell, and international precious metals generally rose. There are also significant policy adjustments and industry - specific news in various sectors such as macro, energy - chemical, metal, black - series, and agricultural products futures, as well as in the financial and industrial fields [3][4][5]. 3. Summary by Relevant Catalogs Overnight Night - Market Trends - London basic metals: LME tin dropped 4.61% to $35,350/ton, with a weekly decline of 5.62%; LME copper fell 4.54% to $10,374/ton, with a weekly decline of 3.19%; LME aluminum dropped 1.88% to $2,746/ton, with a weekly increase of 1.35%; LME nickel fell 1.79% to $15,215/ton, with a weekly decline of 1.41%; LME zinc dropped 0.86% to $2,984.50/ton, with a weekly decline of 1.65%; LME lead fell 0.76% to $2,014.50/ton, with a weekly decline of 0.27% [3]. - International oil prices: WTI crude oil's main contract fell 5.32% to $58.24/barrel, with a weekly decline of 4.34%; Brent crude oil's main contract fell 4.8% to $62.09/barrel, with a weekly decline of 3.78% [4]. - International precious metals: COMEX gold futures rose 1.58% to $4,035.50/ounce, with a weekly increase of 3.24%; COMEX silver futures rose 0.76% to $47.52/ounce, with a weekly decline of 0.94% [5]. Important News Macroeconomic News - The Ministry of Transport will start charging a special port fee for US - related ships from October 14 to safeguard the legitimate rights and interests of Chinese shipping enterprises [8]. - The Ministry of Commerce urges the US to correct its wrong actions regarding the inclusion of Chinese entities in the export control "Entity List" [8]. - Israel achieved its combat goals after announcing a cease - fire in the Gaza Strip [8]. - The trading rules of the container shipping index (European route) futures contracts will be adjusted, including changes in the daily limit and trading margin ratio, and a limit on the maximum number of intraday opening positions [8]. - As of October 10, 2025, the Shanghai Export Containerized Freight Index rose 45.9 points compared to the previous period, while the China Export Containerized Freight Index fell 6.7% [9]. - China's economy has a stable foundation, many advantages, strong resilience, and great potential, and will continue to expand high - level opening - up [11]. - A Fed governor is worried about the weakening labor market [11]. - China's export control is not a ban on exports, and compliant applications for civilian use can be approved [11]. - Hamas will counterattack if Israel resumes military operations in Gaza [12]. Energy - Chemical Futures - The trading rules of butadiene rubber, natural rubber, 20 - number rubber, pulp, and offset printing paper futures contracts on the Shanghai Futures Exchange and Shanghai International Energy Exchange will be adjusted, including changes in the daily limit and trading margin ratio [14][16]. - Last week, the sample demand for ethylene glycol in China increased by 1.18% to 553,600 tons [16]. Metal Futures - The trading rules of nickel and tin futures contracts on the Shanghai Futures Exchange will be adjusted, including changes in the daily limit and trading margin ratio [18]. - Last week, copper, aluminum, zinc, and nickel inventories increased, while lead and tin inventories decreased [19]. - In September, the estimated wholesale sales of new energy passenger vehicles in China reached 1.5 million, a year - on - year increase of 22% and a month - on - month increase of 16% [19]. - Dynamic Mining expects the bauxite mining volume to increase by more than 50 million tons [19]. - A large recycled lead smelter in East China resumed production and is expected to produce over 15,000 tons of refined lead in October [20]. - An accident occurred at BHP's Escondida copper mine in Chile, resulting in the death of a worker [21]. - Australia is considering setting a minimum price for key minerals and investing in new rare - earth projects [23]. Black - Series Futures - In September, the total steel export volume of 32 domestic ports increased by 2.17% month - on - month, with different trends in different ports [25]. - Liansteel's CSP production line will be shut down for renovation from October 12, affecting the daily hot - rolled production by 4,000 tons [26]. - The iron ore inventory at 47 and 45 ports increased, while the daily ore - handling volume decreased [26]. - The blast furnace operating rate of 247 steel mills decreased slightly, and the daily pig iron output decreased [26]. - Mainstream coke enterprises believe that the coke market is not ready for a price increase and should control or suspend coal procurement [26]. - In late September 2025, the steel inventory of key steel enterprises decreased, and the daily output of crude steel and pig iron decreased, while the daily output of steel increased [28]. Agricultural Product Futures - As of the end of September, Malaysia's palm oil inventory increased by 7.20%, production decreased by 0.73%, and exports increased by 7.69% [30]. - Malaysia expects the production of crude palm oil to increase in 2026, with an average price of RM3,900 - 4,100 per ton [30]. - From October 1 - 10, Malaysia's palm oil exports increased by 9.86% (ITS data) and 19.37% (AmSpec data) compared to the same period last month [31][32]. - In the 41st week, the actual soybean crushing volume of oil mills was 1.2893 million tons, with an operating rate of 35.99%, lower than the forecast [32]. - In September, Guangxi's sugar sales decreased, and the industrial inventory of sugar in Guangxi and Yunnan increased [34]. Financial Market Finance - A - share market: After reaching a new stage high, the three major A - share indexes adjusted. Institutions believe that the core factors driving the market remain unchanged, and focus on policy - focused and high - performance sectors [36]. - Brokerage strategies: Brokers are optimistic about the fourth - quarter and cross - year market, focusing on technology growth and cyclical sectors [36]. - A - share performance: As of October 12, 82.35% of the 51 A - share listed companies that disclosed their third - quarter performance forecasts were positive [36]. - IPO and inspection: Two companies were selected for on - site inspection of their IPOs, and some companies passed the Hong Kong Stock Exchange's listing hearing [37][40]. - Fund issuance: In October, the number of newly issued funds increased significantly, with equity funds accounting for 76.7% [39]. - Company responses: Some companies responded to market rumors, such as Zhongji Innolight and Zhipu [39][40]. - Brokerage views: CITIC Securities recommends focusing on upstream resource and traditional manufacturing sectors [40]. Industry - The 138th Canton Fair will open on October 15, with record - high exhibition scale, indicating that China's foreign trade may continue to grow resiliently [41]. - The supervision of personal business loans flowing into the real estate market has been strengthened, and the risks of such loans are emerging [43]. - "Report - price consistency" will be implemented in the non - auto insurance field to promote high - quality development [43]. - China's manned deep - sea exploration has achieved important progress during the "14th Five - Year Plan" period [44]. - Australia is considering setting a minimum price for key minerals and investing in rare - earth projects [44]. - The global 300mm wafer factory equipment expenditure is expected to reach $374 billion from 2026 - 2028 [44]. Overseas - South Korea's economic deputy prime minister will visit the US to discuss economic and financial issues with the US Treasury Secretary [45]. - Ray Dalio warns that the US government's debt growth is too fast [47]. - South Korea's 20 - 29 - year - old population was surpassed by the over - 70 - year - old population last year [48]. International Stock Market - Global central bank governors will discuss stock market bubbles and potential crash risks [49]. - NVIDIA's CEO Huang Renxun has cashed out $113 million by selling company stocks in October [49]. - Warner Bros Discovery rejected Paramount Skydance's acquisition proposal [50]. Commodity - International spot gold prices exceeded $4,000/ounce, and banks issued risk warnings [51]. - The silver price rose above $50/ounce, causing chaos in the London silver market [52].

穆迪最新警告称，美国大约有22个州正处于经济衰退或濒临衰退。如果经济疲软从以制造业为主的小州蔓延到像加州 或纽约这样的大州，美国经济可能会整体陷入衰退。 与此同时，全球股市投资者正加速将资金从美国转向其他地区，以分散风险、实现投资组合多元化。有数据统计，过 去一个月，流入"剔除美股"全球股票基金与ETF的资金超过1750亿美元，而包含美国股票的全球基金仅吸引约1000亿 美元；截至9月底，流入欧洲股票ETF的资金达到创纪录的710亿美元。 【环球网财经综合报道】受多种因素影响，美股遭遇"黑色星期五"，资本市场对此前迭创历史新高的美股担忧情绪急 剧升温，市场人士普遍担心上涨行情即将终结。但亦有部分投资者认为，外部因素不太可能显著改变市场走势，因为 人工智能仍是主导因素。 值得关注的是，全球央行行长将在IMF和世界银行秋季年会上重点讨论股市泡沫及潜在的崩盘风险。IMF总裁 Kristalina Georgieva警告称，当前资产估值已接近25年前互联网泡沫时期的水平，市场若大幅回调将拖累全球经济；美 联储、欧洲央行、英国央行等均已对市场估值过高和回调风险表示担忧。 ...