来源：市场资讯 前言： 过去一周，市场整体走势基本和我上周的判断一致。美元、美债利率还有原油都出现了反弹（原油的做 多逻辑我在之前就点过），唯一稍微超出预期的是美股出现了小幅回落。 | LC | 5 欧进行 | 2025-09-21 09:20 阅读人数 946 | | --- | --- | --- | | 2025-09-21 周末小结 No.98 | | | | ♂ 2025-09-21 周末小结 No.98 | | | | 本周重点:美国零售数据, FOMC | 美债,美元:利率见底,美元见底 | | | 美股：成长股重回视野 | 英格兰央行:又又又进入两难 | | | Projection Year End | | | | Ship An | | | 美国数据再超预期，经济底子仍然硬 本周美国数据不多，但几项关键指标都值得关注。失业金申请人数降到21.8万，明显低于市场预期的 23.3万；PCE通胀大致符合预期；密歇根大学的通胀预期反而低于市场预期。 | United States | | | Browse 20:05:07 | Ask Al | 口 D | 09 高度 三日 | 74) | | | ...

Core Insights - The earnings engine of the S&P 500 index is showing sustained strong momentum, reflecting the robust profitability of U.S. companies during the current earnings season, which may alleviate concerns about the overheated nature of the stock market [1] Earnings Performance - Approximately one-third of S&P 500 companies have reported earnings, with about 83% exceeding analyst expectations, potentially marking the highest level since Q2 2021 [3] - The S&P 500 index has rebounded 28% since hitting a low on April 8, with multiple new historical highs reached in recent weeks, indicating a broad-based market rally rather than being driven by a few large-cap stocks [3] Market Sentiment - The strong earnings performance has helped dispel some investors' concerns about a market bubble, leading to a more optimistic outlook for future market trends [4] - The improvement in market sentiment is closely linked to the easing of concerns regarding tariff impacts, which had previously made investors cautious about corporate profitability [3] Sector Performance - Different sectors have shown varying earnings results, but overall, key sectors such as technology, consumer, and industrials have reported satisfactory results, contributing significantly to the index's rise [4] - Some previously bearish sectors have also seen stock price rebounds due to improved profitability, adding to the market's upward momentum [4]