11月21日，汽车街(02443)盘中股价最低触及3.38港元，这预示着其在近期连续的下跌行情中，离刷新上市股价新低又近了一步。 但在一个多月后的11月27日，汽车街迎来上市后的首次大笔解禁，同日开盘半小时内公司股价就急跌超四成，最终收于6.8港元，全天下跌44.44%。至此之 后，汽车街股价长期保持低位横盘，只在今年4月7日因港市大盘剧烈波动导致股价跌至上市新低3.22港元。4月8日，汽车街股价大幅收涨13.99%，当日的股 价最低价即为3.38港元。 虽然后续汽车街股价略有波动，但总体在3-5港元至今波动。如今其阶段性低价再次来到3.38港元，在股票即将"出通"的背景下，留给场内投资者的显然是一 个配置方向上的抉择。 已进入"出通"倒计时? 自今年7月18日盘中触及阶段性高点5.11港元后，汽车街的股价便进入了新一轮的波动下行通道中。尤其是10月以来，在经过2个多月的的长期横盘震荡后， 汽车街股价在技术面上正式进入均线粘合向下发散形态，所有均线齐头向下发散。 通常来说，如此技术形态意味着个股的上一个技术趋势出现根本性扭转，随着场内短、中、长期的持仓成本逐级下降，下跌趋势开始逐级确立。 虽然上市不到2年时间 ...

Janney Montgomery Scott首席投资策略师Mark Luschini表示，自10月下旬开始的美股调整似乎尚未完全 结束。市场已呈现超卖状态，为技术性反弹创造了条件，但即将发布的经济数据将成为决定性因素—— 这些可能影响美联储降息预期的数据，将决定反弹力度或是否需要更深度回调来吸引买家。（格隆汇） ...

财达期货｜螺纹钢、铁矿石 周报 财达期货｜螺纹钢、铁矿石 周报 2025-11-17 短期铁水需求止跌回升，带动螺矿企稳反弹 【螺纹钢】 研究员 Z0017173 请务必阅读正文之后的免责条款部分 第 1 页 共 10 页 姓名：薛国鹏 F3073406 期货方面：本周螺纹 01 合约在空头主力减仓驱动下维持窄幅整理走势。截 止周五，螺纹 01 合约收于 3053 元/吨，环比上周上涨 19 元， 周涨幅 0.63%。 从 业 资 格 号 ： 现货方面：本周螺纹主流地区价格开始小幅上调，整体成交一般。截止周 五，全国螺纹平均报价上调 17 元至 3242 元/吨；其中上海地区 螺纹价格维持不变 3190 元/吨；杭州地区螺纹价格上调 10 元至 3240 元/吨；北京地区螺纹价格上调 10 元至 3190 元/吨；天津 地区螺纹价格上调 10 元至 3210 元/吨；广州地区螺纹价格上调 40 元至 3330 元/吨。 投 资 咨 询 号 ： 基 本 面：供给方面：全国 247 家钢厂高炉开工率 82.81%，环比减少 0.32%， 同比增加 0.73%；高炉炼铁产能利用率 88.8%，环比增加 0.99% ...

来源：华尔街情报圈 惊心动魄的一晚结束了，市场像是经历四季：道琼斯指数跌0.6%，标普500指数和纳斯达克指数勉强持 平（盘中一度跌逾1%）。 虽然出现反弹，但核心矛盾没有解决，反而暴露得更彻底（不是趋势、不代表底部）。 第一，"无国界"的黄金和比特币并未像美股一样，收复部分跌幅。这两个市场更加国际化，并且连续24 小时交易，在美股收盘后金价还在跌。如果"底层情绪"真正缓和，这两者都应该出现强力反弹，甚至比 股市更快（黄金没有跟、比特币没有跟、美股自己尾盘又吐一部分）。所以，美股的反弹是本地化的， 被动的，被技术位托出来的。而黄金与比特币揭示了全球市场的主线：信心未恢复。 第二，美股反弹是从23:00开始的，但同一时段消息面极为安静，有三点值得关注。 1）分析师们将其归结为"技术性反弹"——指数刚好踩到重要均线（50日、100日）的位置，被动触发了 大量买盘。 2）买家不是"主动看多"，而是"被动、被迫"。昨晚出现大量 ETF 相关流动（占 37% 的成交量）。市场 突然剧烈波动，机构第一反应——射一箭 ETF 来对冲、调仓、止损。这些不是信仰买，是反射弧式 买。重点不是看多，而是市场变化太快，人们只能用 E ...

金价因可能出现技术性反弹而小幅走高，此前近月 黄金期货隔夜结算价下跌1.3%。现货黄金上涨 0.1%，报每盎司3,934.70美元。道明 证券大宗商品策略主管巴特·梅莱克研报表示，黄金在每盎司3,800- 4,050美元的较低交易区间盘整，应该不足为奇。该大宗商品策略主管表示，"完美的"黄金牛市环境已 受到近期美联储降息前景不明以及对央行和中国散户买盘担忧的侵蚀。不过，梅莱克补充说，在盘整之 后，黄金均价可能会在2026年上半年达到每盎司4,400美元上方的季度新高。 ...

来源：格隆汇APP 格隆汇10月30日｜受美元回落和美联储降息的支撑，金价周四反弹。Capital.com分析师凯尔-罗达表 示，"除了技术性反弹之外，没有其他催化剂推动黄金走高。本周对黄金不利的因素很多。贸易协议削 弱了贸易和地缘政治的利多影响，美联储的鹰派降息和 12 月再次降息的可能性下降也对黄金不利。我 认为在这种态势下，黄金可能会继续回调。尽管从长远来看，黄金的趋势是向上的。" ...

Core Viewpoint - Gold prices experienced a slight increase during Asian trading hours, potentially indicating a technical rebound after a significant drop earlier [1] Group 1: Price Movement - Spot gold rose by 0.2% to $3,347.81 per ounce [1] - The price decline on Monday marked the largest drop in three months [1] Group 2: Influencing Factors - President Trump clarified on social media that gold would not be subject to tariffs, which contributed to the price movement [1] - Reports of potential tariffs on gold bars last Friday led to a surge in gold prices, reaching historical highs [1] Group 3: Market Sentiment - Traders are closely monitoring the upcoming release of the U.S. July CPI data for insights into the Federal Reserve's interest rate trajectory [1]

Group 1 - The core viewpoint of the news is that the recent weak U.S. non-farm payroll data has led to a significant market shift, resulting in a strong rebound in gold prices, which closed above $3360, indicating a potential short-term trend reversal [1] - The U.S. government has experienced key vacancies in two major economic departments: the Federal Reserve and the Department of Labor, with the resignation of Federal Reserve Governor Adrianne Kugler and the dismissal of the Labor Statistics Bureau Director [2][5] - President Trump announced plans to nominate new leaders for both the Federal Reserve and the Labor Statistics Bureau within a few days, indicating a potential shift in economic policy direction [4][5] Group 2 - Technical analysis of gold shows a significant rebound signal after a prolonged period of consolidation, with prices recovering from a low of below $3270 and currently stabilizing above the middle Bollinger band at $3340.11, which boosts bullish sentiment [6] - The MACD indicator suggests a potential end to the bearish divergence, with decreasing green column momentum, indicating that a technical rebound may have continuation potential [6] - The RSI indicator has risen from the oversold region to 52.24, breaking the previous weak trend, and if momentum continues, gold prices may test resistance at $3407, with a breakthrough opening up further upside potential [6]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The easing of geopolitical risks in the Middle East has boosted global market risk appetite, leading to a technical rebound in major stock indices. However, domestic funds remain cautious, and the trading volume in the two markets is stable. It is expected that the large-cap stock index will continue to fluctuate and repair with low volume in the short term, and the structural opportunities may be concentrated in the main lines of policy-driven and valuation recovery [1][3]. 3. Summary by Directory Market Analysis - **Domestic Economy**: In May, the added value of large-scale industrial enterprises increased by 5.8% year-on-year, and the total retail sales of consumer goods increased by 6.4%. From January to May, the national fixed-asset investment increased by 3.7% year-on-year. The added value of high-tech manufacturing and digital product manufacturing increased by 8.6% and 9.1% respectively in May. The sales area and sales volume of newly built commercial housing decreased by 2.9% and 3.8% respectively from January to May, the decline in new construction continued to narrow at a low level, the decline in investment slightly expanded, and the inventory of commercial housing has decreased for three consecutive months [1]. - **Overseas Situation**: Iran has expressed its willingness to restart negotiations on the premise that the United States does not participate in the Israeli attack, and hopes to limit the attacks to a limited scope [1]. - **Stock Market Performance**: A-share three major indices fluctuated upward, with the Shanghai Composite Index rising 0.35% to close at 3388.73 points and the ChiNext Index rising 0.26%. The sector indices rose more and fell less, with the media, communication, computer, and real estate industries leading the gains, and the agriculture, forestry, animal husbandry, fishery, beauty care, and non-ferrous metal industries leading the losses. The trading volume of the two markets in Shanghai and Shenzhen was 1.2 trillion yuan. The three major US stock indices closed up across the board, with the Nasdaq rising 1.52% to 19701.21 points [1]. Futures Market - **Basis**: This Friday, the current-month contracts were delivered, and the basis of IF, IH, and IC rebounded. - **Trading Volume and Open Interest**: The trading volume of IF increased, and the open interest of all stock index futures decreased [2]. Strategy - Driven by the positive signal of the easing of geopolitical risks in the Middle East, the risk appetite of the global market has been repaired, and the main stock indices have shown a technical rebound. The domestic capital market remains cautious, and the trading volume in the two markets is stable. It is expected that the large-cap stock index will continue to fluctuate and repair with low volume in the short term, and the structural opportunities may be concentrated in the main lines of policy-driven and valuation recovery [3]. Chart Summary - **Macroeconomic Charts**: Include the relationship between the US dollar index and A-share trends, the relationship between US Treasury yields and A-share trends, the relationship between the RMB exchange rate and A-share trends, and the relationship between US Treasury yields and A-share style trends [5][6]. - **Spot Market Tracking Charts**: Show the daily performance of major domestic stock indices, the trading volume of the two markets in Shanghai and Shenzhen, and the margin trading balance [12]. - **Stock Index Futures Tracking Charts**: Present the trading volume and open interest of stock index futures, the basis of stock index futures, and the inter - period spreads of stock index futures [15][35][40].

Core Viewpoint - Traders are taking profits, leading to a pullback in oil prices despite ongoing geopolitical tensions in the Middle East, with prices still supported by risk premiums related to Iran and weakened expectations for a nuclear deal with the U.S. [1] Group 1 - Oil futures have retraced some of the gains from the previous day due to profit-taking by traders [1] - The market remains influenced by geopolitical concerns, particularly those centered around Iran, which have contributed to a recent technical rebound in oil prices [1] - Expectations regarding the U.S. nuclear deal have diminished, adding to the complexity of the oil market dynamics [1]