导读：①昨日三大指数集体上涨，节前量能反增，透露出对节后行情的乐观预期，为持股过节创造好环 境；②新能源赛道活跃，固态电池方向爆发，受技术突破与涨价逻辑双重催化；③大金融板块异动，券 商权重股获资金流入，后续大概率震荡向上；④科技股方向，DeepSeek 模型更新降成本且技术生态有 突破，国产算力及下游应用或迎机会。 昨日市场震荡反弹，三大指数全线上涨，并且即使受到节前效应的影响下，量能还能不减反增，也一定 程度反映出市场对于节后行情依旧较为乐观之预期，为持股过节创造了相对良好的环境。 昨日午后以证券为代表的大金融板块异动走强，汇金股份、华泰证券、国盛金控涨停，东方财富、中信 证券等涨超5%。而上述个股都属于券商板块的权重，可见在出现资金大规模流入的背景下，对于证券 板块的后续走势仍值得期待。不过需注意的是，昨日尾盘阶段，券商板块还是出现了一定的回流，可见 大金融短期出现大规模逼空的概率仍相对较低，后续大概率还是以震荡向上的模式所延续。 科技股方向再迎重磅催化，昨日DeepSeek发布重磅更新——DeepSeek-V3.2-Exp 模型。这次亮点是价 格，输入成本降低50%，输出成本降低75%，对于下游应用行 ...

Report Industry Investment Rating - The global economy in the macro and financial sector is rated as (bullish) [1] Core View - The global economy maintains an upward trend. China strengthens its domestic cycle, Asian exports are strong, and the terminal demand is considered strong. Market expects the Fed to cut interest rates in September 2025 and accelerate rate - cuts in 2026. China's comprehensive rectification of involution - style competition is expected to boost listed company performance. The European Central Bank has cut interest rates 8 times, Germany is expanding its military by 30%, and Meta plans to invest hundreds of billions of dollars in building large - scale data centers [1] Summary by Related Information AI Investment - AI investment covers three major directions: computing power, data, and downstream applications. The global data center construction in computing power is booming, and in application fields such as AI agents, intelligent driving, and intelligent terminals, China has many globally competitive enterprises [1] Eurozone Government Bonds - As the US dollar's safe - haven status is questioned, central banks around the world are increasing their allocation of eurozone government bonds, and the subscription ratio in eurozone government bond issuance has risen from 16% last year to 20% so far this year [1] Central Bank Independence - After JPMorgan Chase's Dimon took the lead, executives from Goldman Sachs, Bank of America, and Citigroup also voiced their support for the central bank's independent operation without White House intervention [1] Japanese Stock Market - With the upcoming Japanese election, Japan's $6.8 trillion stock market faces a "reckoning" moment. Polls suggest that the ruling coalition led by Prime Minister Ishiba Shigeru may lose its majority in the Senate election this weekend [1] Stablecoin Business - JPMorgan Chase's CEO Dimon and Citigroup's CEO Fraser said they will participate in the stablecoin business, and JPMorgan needs to accept stablecoins to keep up with competitors [1] Tariffs and Inflation - New York Fed President Williams expects tariffs to add about one percentage point to inflation from the second half of 2025 to 2026, although the current comprehensive data shows only a relatively limited impact of tariffs [1] xAI's Expansion - Musk's xAI is looking to expand its infrastructure in the Middle East to power its computing - intensive AI models with the region's cheap energy, abundant capital, and political goodwill [1] Trump's Tariff Plan - Trump plans to impose tariffs slightly higher than 10% on at least 100 countries, including those in Africa and the Caribbean [1] Economic Data - The final value of the US Markit Manufacturing PMI in June 2025 was 52.0, continuing to expand. China's PMI production index and new order index in June 2025 resumed expansion. Germany's industrial output in May 2025 increased by 1.2% month - on - month [1]