格隆汇10月7日｜标准普尔500指数盘中触及历史新高，最新上涨0.2%。 ...

Core Insights - The stock market reached new record highs despite the ongoing government shutdown [1] Market Performance - The Dow Jones Industrial Average increased by 79 points, or 0.2% [1] - The S&P 500 rose by 0.1% [1] - The Nasdaq Composite saw a gain of 0.4% [1] - The S&P and Nasdaq achieved their 30th record closing highs of the year, while the Dow marked its 10th record high [1] - All three indexes experienced simultaneous increases for five consecutive trading days, a first since August 19, 2024 [1]

The government shutdown deadline came and went. Investors responded by pushing the S&P 500 to its highest level on record. ...

Group 1 - The S&P 500 financial sector has reached an all-time high, with a recent increase of 0.8% [1]

Core Viewpoint - The company, despite holding a significant amount of Bitcoin and having a high market capitalization, has been denied entry into the S&P 500 index due to its classification as a fund-like entity rather than a traditional operating company [3][5][25]. Group 1: Company Background - The company initially operated as a software firm focused on enterprise intelligence software, with a stable revenue stream [7][9]. - In 2020, the company shifted its focus to Bitcoin, accumulating 640,000 Bitcoins, which represents 3% of the global supply [9][11]. - The company's financial performance is now heavily reliant on the fluctuations in Bitcoin prices, leading to concerns about its business model [11][13]. Group 2: S&P 500 Entry Criteria - The S&P 500 requires companies to have a stable operating income and a significant market capitalization, both of which the company meets [5][7]. - However, the S&P committee has a rule that excludes fund-like companies from the index, which the company inadvertently falls under due to its primary business of accumulating Bitcoin [13][25]. Group 3: Market Performance and Challenges - The company's stock price has seen a dramatic increase, rising 25 times since August 2020, but has recently underperformed compared to Bitcoin itself [15][17]. - The premium on the company's stock, which allowed it to issue new shares to buy more Bitcoin, has decreased from 3 times to 1.5 times, raising investor concerns [17][19]. - Efforts to issue new shares and preferred stock have met with limited success, indicating a potential loss of investor confidence [20][22]. Group 4: Future Outlook - The company's current model, which relies on stock issuance to acquire Bitcoin, faces fundamental challenges as it resembles a Bitcoin fund rather than a traditional operating company [25][28]. - Without a clear operational strategy beyond Bitcoin accumulation, the company may struggle to gain entry into the S&P 500, as it needs to demonstrate value creation beyond being a cryptocurrency holder [25][30].

（来源：科创100ETF基金） 标准普尔500指数回吐涨幅，转为下跌。纳指跌幅扩大至0.5%。道指涨幅收窄至0.8%，此前曾上涨1%。 来源：市场资讯 ...

Group 1 - The S&P 500 index reversed its gains and turned negative [1] - The Nasdaq index's decline expanded to 0.65% [1] - The Dow Jones index's gains narrowed to 0.8%, after previously rising by 1% [1]

美联储降息25个基点后，标准普尔500指数小幅上扬，尾盘上涨0.1%。 来源：滚动播报 ...

The S&P 500 hit another record close. But what happens when the rate cut finally arrives? ...

Core Viewpoint - Investors are anticipating consumer price data to provide insights into the potential pace of interest rate cuts by the end of the year [1] Group 1 - The upcoming consumer price data is expected to influence market expectations regarding interest rate adjustments [1]