格隆汇10月10日｜纳指盘中涨0.3%，创历史新高；道琼斯指数涨幅扩大，现涨0.5%，最新报46588.68 点。 ...

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]

Group 1 - The macro growth factor continues to rise, while inflation indicators show a weakening rebound, with domestic CPI turning negative at -0.4% and PPI's decline narrowing to -2.9%, indicating persistent internal demand issues [4] - The Federal Reserve's interest rate cut expectations are driving upward global liquidity expectations, benefiting Asian equity markets, with the Korean Composite Index rising by 5.94% and the Hang Seng Tech Index by 5.31% [4][9] - The A-share market shows a preference for growth styles, with the Sci-Tech 50 Index increasing by 5.48%, while small-cap indices outperform large-cap blue chips [4] Group 2 - Recommendations for asset allocation include favoring high-grade credit bonds in the bond market, adjusting duration flexibly, and focusing on bank and insurance sector movements [5] - In the overseas equity market, the report suggests monitoring interest rate-sensitive sectors due to limited short-term rebound potential for the dollar and significantly raised interest rate cut expectations [5] - For gold, it is recommended to increase allocations to gold and silver as they are core assets during the interest rate cut cycle, with expectations for Shanghai gold to break previous highs [5] Group 3 - The report indicates that the overall liquidity environment remains supportive for market valuation recovery and structural trends, with a significant decrease in average daily trading volume in the A-share market [56] - The A-share valuation levels have increased, with the price-to-earnings ratio rising to 50.38 times and the price-to-book ratio reaching 5.60 times, suggesting that market expectations for future corporate earnings may be overly optimistic [60] - The report highlights that the earnings expectations for A-shares are weaker than historical averages, with a projected rolling one-year earnings growth rate of 10.3% and revenue growth rate of 5.9% [61]

Group 1 - The protest in London on September 13 saw over 100,000 participants, resulting in clashes with police, injuring 26 officers and leading to at least 25 arrests [3] - The protest, named "United Kingdom," was organized by far-right activist Tommy Robinson, who has previously received support from Elon Musk [4] - Elon Musk made a surprise video appearance during the protest, calling for a change in government and the dissolution of Parliament [4]

Group 1 - The three major US stock indices opened slightly higher on Wednesday, with the Nasdaq briefly surpassing 22,000 points, setting a new historical high [1] - The Dow Jones index increased by 1.02%, while the S&P 500 index rose by 0.54% [1]

Core Viewpoint - The S&P 500 index reached an intraday low, declining by 1.4%, while the Nasdaq fell by 1.7% and the Dow Jones decreased by 1.1% [1] Market Performance - S&P 500 index experienced a drop of 1.4% [1] - Nasdaq index saw a decline of 1.7% [1] - Dow Jones index decreased by 1.1% [1]

Group 1 - The S&P 500 index increased by over 0.1%, the Nasdaq rose by over 0.2%, and the semiconductor index gained 1% [1] - Trump announced that trade agreements with the EU, Japan, and South Korea have been completed [1]

Group 1 - The U.S. stock market experienced a decline, with the S&P 500 index falling by 1% [1] - The Nasdaq composite index dropped by 1.85% [1] - The Dow Jones Industrial Average saw a smaller decrease of 0.3% [1]

Group 1 - The Dow Jones and S&P 500 indices turned negative, while the Nasdaq's gains narrowed to 0.5% [1]

Core Points - The Nasdaq Composite Index increased by over 1% to reach an intraday high [1] - The S&P 500 Index rose by 0.8% [1] - The Dow Jones Industrial Average saw a gain of 0.3% [1]