道琼斯工业指数下跌0.46%，标普500下跌0.30%，纳斯达克回落0.38%。下跌背后，几个重量级公司的 财报表现令人意外。联合健康集团发布的盈利预测低于市场预期，股价重挫7.5%，成为拖累道指的"重 灾区"；波音虽然亏损收窄，但未能赢得投资者信心，跌幅达4.4%。默克更是因延长对中国的HPV疫苗 出口暂停时间，收跌1.7%。这些公司属于传统的盈利支柱，一旦失速，市场信心便会迅速动摇。 短期调整或许只是风向的初步信号。在所有变量都未落定之前，市场将很难再现此前那种无惧利空的单 边上涨。投资者或许需要重新思考，涨势背后是否已埋下过热的隐忧。 DLSMARKETS认为财报不佳固然构成直接冲击，但市场真正纠结的，还是即将公布的美联储政策声 明。通胀路径、就业数据与增长预期之间的微妙平衡，让货币政策走向充满不确定性。投资者一方面希 望看到美联储继续"鸽派"维稳，另一方面又担心经济可能没有市场想象中强韧。一旦表态偏"鹰"，资金 可能重新定价风险资产。 周二，美国三大股指集体回落，市场情绪出现微妙转变。虽然此前标普500和纳斯达克指数不断刷新纪 录高位，但本轮调整暴露出投资者对盈利质量和政策前景的双重担忧。财报季如期而 ...

白宫经济顾问哈塞特表示，国会预算办公室给出的1.8%的增长预期非常保守。 ...

Investment Rating - The report assigns an "Overweight" rating to Tesla Inc, with an industry view of "In-Line" [4][67]. Core Insights - The survey results indicate that 85% of respondents believe Elon Musk's political activities negatively impact Tesla's business fundamentals [6]. - A significant 59% of respondents expect Tesla's FY25 deliveries to decline year-over-year, contrasting sharply with previous bullish sentiments [6]. - Despite the negative outlook, investor sentiment is relatively mixed regarding Tesla's stock performance by year-end, with 45% expecting the stock to rise and 36% expecting it to fall [6]. Summary by Sections Investor Survey Results - The survey collected 245 responses, revealing that 40% of investors view Musk's political activities as insignificant, while 3% see them as positive [3][6]. - Expectations for Tesla's auto delivery growth in 2025 show that 38% anticipate a decline of 10% or less year-over-year, while only 4% expect growth of more than 10% [8]. Valuation - Tesla's current valuation stands at 19x FY30 PE and approximately 10x EV/EBITDA for FY30, indicating a favorable risk-reward profile [6]. - The price target for Tesla is set at $430, with the stock closing at $230.58 on March 11, 2025 [4][6]. Market Sentiment - The report highlights a stark contrast in sentiment compared to earlier bullish outlooks, with a notable shift in expectations regarding Tesla's growth trajectory [6]. - The survey results suggest a cautious approach among investors, reflecting concerns over delivery forecasts and external factors impacting the company's performance [6].