Core Viewpoint - Gold prices in both futures and spot markets dropped over 5%, falling below the 10-day moving average due to short-term overbought conditions needing correction and increased expectations for a ceasefire in the Russia-Ukraine conflict, leading to decreased risk aversion [1] Market Performance - The market opened lower but rebounded, with a reminder that a rebound above 3900 points would be a selling point; however, the bears pressured the market, leading to a drop after a morning rebound, while the afternoon saw some support from bulls, closing with a small K-line with a lower shadow [1] - Over 2300 stocks rose while around 2800 stocks fell, indicating a mixed market performance [1] Sector Analysis - Gold and non-ferrous metals experienced a sharp drop at the open due to the overnight decline in gold prices, but adjustments have created value opportunities; a potential interest in gold is anticipated next week with the Federal Reserve possibly lowering interest rates [1] - Sectors such as deep earth, new energy, engineering machinery, and small home appliances showed positive performance, while technology stocks faced a downturn, suggesting a negative sentiment post-correction; it is advised not to participate in rebounds within the declining trend of tech stocks [1] Investment Sentiment - The overall view on the A-share market is neutral, indicating that while there are opportunities in certain sectors like gold and new energy, there is also a potential for market fluctuations within a defined range, with support levels being sought after declines [1]

Core Viewpoint - The overall decline in the U.S. stock market was driven by significant losses in technology stocks, particularly Nvidia, which saw a substantial drop in market value following its earnings report [1][2]. Group 1: Market Performance - On Friday, all three major U.S. stock indices closed lower, with the Nasdaq Composite falling over 1% [1]. - Nvidia, Broadcom, and Oracle all experienced declines exceeding 3%, while Dell's stock plummeted nearly 9% [2]. Group 2: Nvidia's Earnings Report - Nvidia's market capitalization decreased by $145.6 billion (approximately 10,382 million RMB) in one night [2]. - Despite Nvidia's revenue and profit exceeding market expectations, its data center business revenue fell slightly short, and the company's guidance for Q3 revenue was only marginally above analyst estimates, failing to meet high investor expectations [2].