全面强化基层监督。要加强基层纪检监察监督，深化落实《关于加强基层纪检监察监督的若干意见》， 持续优化基层纪检监察机构设置和力量配置，深化乡镇纪检监察片区协作，探索推动乡镇纪委与村务监 督委员会有效衔接，统筹用好县乡监督力量，持续加大基层监督办案力度。要深入开展对村巡察，聚焦 党中央决策部署在基层落实情况、基层党组织建设情况、群众身边不正之风和腐败问题，统筹市县联动 巡、乡村一体巡，紧盯村"两委"班子特别是"一肩挑"人员，优先对软弱涣散村、社情复杂村、资源丰富 村、发展滞后村开展巡察，逐步实现全覆盖，推动巡察直抵基层末梢。要在更大范围整合监督力量，聚 焦解决西藏自治区昌都市地广人稀监督差异大、基层熟人社会监督难度大、纪检监察干部能力差距大等 问题，探索构建市纪委监委统一领导、监督检查室主导、县（区）纪委监委配合、乡镇纪检监察协作片 区参与的市域"大协作片区"，通过市级督战、室组主战、县乡参与、直插基层，推动基层监督部署指挥 更加有力、资源整合更加有效、措施手段更加协同，将监督制度优势转化为治理效能。 坚决守护民生福祉。要推动党中央决策部署贯彻落实，聚焦习近平总书记重要指示批示和党中央重大决 策部署在昌都落实情况 ...

发挥"助手"作用——协助推动、同题共答 派驻监督是党和国家监督体系的重要组成部分，是纪检监察专责监督的重要制度安排。实践中，驻中国 石油纪检监察组充分发挥协助职责和监督专责，始终把以案促改促治作为协助党组落实主体责任、构建 管党治党格局的重要方法、有力举措，深挖案件富矿资源，注重在三个环节发挥助手作用，推动集团公 司完善制度、明晰责任、确立标准，不断健全完善全面从严治党体系。在案件查办环节，善于通过案件 查办发现体制性短板、制度性漏洞、行业性领域性问题，协助集团公司党组找到全面从严治党中存在的 风险隐患；在研提以案促改促治建议环节，通过把脉会诊、对症下药，协助集团公司党组采取切实可行 的整改措施，提升企业治理能力；在整改整治环节，通过持续跟进整改整治，督促案发单位在全面从严 治党、从严管权治吏、依法合规管理、加强廉洁文化建设等方面下真功、见实效。 以案促改促治，是一体推进"三不腐"的重要环节，是新形势下深化标本兼治、系统施治的有力举措。习 近平总书记在二十届中央纪委四次全会上强调，增强以案促改促治实效，推动完善权力配置运行的制约 和监督机制，丰富防治新型腐败和隐性腐败有效办法。中央纪委国家监委驻中国石油天然气 ...

Group 1 - The core focus is on high-quality development and the integration of development and safety, emphasizing the cultivation of characteristic advantageous industries to promote stable and healthy economic growth [1][2] - The importance of protecting and restoring historical cultural heritage in ancient cities is highlighted, with a call for strict management of ancient city construction and the promotion of tourism consumption [1] - Encouragement for enterprises to increase R&D investment and enhance product quality and brand influence, alongside the need for an optimized business environment and the implementation of policies to support enterprise growth [1][2] Group 2 - The initiative to enhance the quality and added value of flower products, particularly in the context of the "Belt and Road" market, is emphasized to strengthen the Qingzhou flower brand [2] - The development of the ginseng industry is discussed, focusing on utilizing local ecological and resource advantages to promote the entire industry chain and improve income for rural communities [2] - A call for a thorough review of the first half of the year and a commitment to project execution, investment expansion, and consumer promotion in the second half, aiming for high-quality development amidst uncertainties [2]

Group 1 - The core viewpoint emphasizes the importance of reform and innovation in driving high-quality development in Dongying City, focusing on the implementation of major national strategies related to the Yellow River [3] - Dongying City is advancing the construction of the National Saline-Alkali Land Comprehensive Utilization Innovation Center and aims to improve 146,000 acres of saline-alkali farmland while adding 35,000 acres of arable land [3] - The city has signed 108 formal contract projects with a total investment of 54.192 billion yuan in the first four months of the year, showcasing a strong commitment to high-quality investment attraction [2] Group 2 - Dongying City is actively promoting the development of renewable energy, with plans for renewable energy installations to reach 10 million kilowatts and new energy storage capacity to reach 1.6 million kilowatts this year [4] - The city is focusing on the transformation and upgrading of the petrochemical industry while nurturing emerging industries such as high-end petroleum equipment and lithium batteries [4] - In the first quarter, the city's GDP grew by 6.1%, surpassing the provincial growth rate by 0.1 percentage points, indicating robust economic performance [4]

Core Viewpoint - The earnings outlook for major banks such as JPMorgan, Wells Fargo, and Citigroup is subdued despite passing stress tests, with growth hindered by weak demand in conventional and investment banking [2][3]. Group 1: Earnings Expectations - JPMorgan's Q2 earnings are expected to decline by -5.6% with revenues down -13.4% [3] - Citigroup and Wells Fargo are projected to see Q2 earnings decrease by -3.2% and -6.8% respectively [3] - The Zacks Investment Brokers & Managers industry, including these banks, anticipates a total Q2 earnings drop of -2.8% on -0.6% lower revenues [3] Group 2: Sector Performance - The overall Finance sector is expected to see Q2 earnings increase by +8.2% on +3.9% higher revenues [3] - Total S&P 500 earnings for the June quarter are projected to rise by +5.0% with +4.0% higher revenues [5] - Three sectors are expected to achieve double-digit earnings growth in Q2: Aerospace (+15.2%), Tech (+12.1%), and Consumer Discretionary (+106.1%) [5] Group 3: Market Performance - Despite weak earnings growth expectations, stocks of JPMorgan, Citigroup, and Wells Fargo have performed well in the market, likely due to anticipated capital returns and hopes for improved earnings growth [6] - The market's recovery from April lows suggests that participants may not view tariff uncertainties as a significant threat, although there is skepticism regarding this outlook [23]

研究早观点 2025 年 7 月 3 日 星期四 市场走势 资料来源：最闻 国内市场主要指数 | 指数 | | 收盘 | 涨跌幅% | | --- | --- | --- | --- | | 上证指数 | | 3,454.79 | -0.09 | | 深证成指 | | 10,412.63 | -0.61 | | 沪深 | 300 | 3,943.68 | 0.02 | | 中小板指 | | 6,512.36 | -0.62 | | 创业板指 | | 2,123.72 | -1.13 | | 科创 | 50 | 982.64 | -1.22 | 资料来源：最闻 分析师： 李召麒 执业登记编码：S0760521050001 电话：010-83496307 邮箱：lizhaoqi@sxzq.com 【今日要点】 2019 年 2 月 21 日 星期四 请务必阅读最后股票评级说明和免责声明 1 【山证新股】新股月报（2025 年 6 月）-新股市场较为活跃，月内共上 市 6 只新股 【行业评论】煤炭：煤炭进口数据拆解：25 年 5 月进口加速收缩 【行业评论】生物医药Ⅱ：创新药动态更新：IBI363：实现免疫耐药 N ...

Market Performance - The major U.S. stock indices showed mixed results, with the Dow Jones Industrial Average slightly down by 0.02% to 44,484.42 points, while the S&P 500 and Nasdaq both reached record closing highs, up 0.47% to 6,227.42 points and 0.94% to 20,393.13 points respectively [3][2] - Large tech stocks mostly rose, with Tesla surging nearly 5%, Nvidia up over 2%, Apple rising more than 2%, and Google increasing over 1%. However, Microsoft, Amazon, and Facebook saw slight declines [5][3] Tesla Performance - Tesla reported second-quarter delivery numbers of 384,122 vehicles, slightly below the forecast of 389,407 vehicles, while production reached 410,244 vehicles, exceeding the estimate of 400,083 vehicles [5][7] - Cathie Wood, head of Ark Investment, purchased 56,368 shares of Tesla, valued at approximately $17.91 million, during a period when Tesla's stock price had declined [5][7] Employment Data - U.S. private sector employment unexpectedly decreased by 33,000 jobs in June, marking the first decline in over two years and significantly below the expected increase of 95,000 jobs [7][8] - The ADP data indicates a hesitance in hiring among companies, despite low levels of layoffs, which may signal a weakening labor market amid economic slowdown concerns [7][8] Federal Reserve Developments - Anna Paulson has been appointed as the new president and CEO of the Philadelphia Federal Reserve, representing the third Federal Reserve district in the FOMC [10][12] - Paulson's extensive experience in financial stability and monetary policy will influence U.S. monetary policy decisions, particularly in the upcoming FOMC meetings [12] Microsoft Layoffs - Microsoft announced a global layoff of approximately 9,000 employees, representing less than 4% of its total workforce, as part of an organizational restructuring [14] - This marks the fourth round of layoffs for Microsoft in 2023, focusing on streamlining management layers and enhancing operational efficiency, particularly in areas with slowing growth [14]

其 他 报 告 2025年07月03日 晨会纪要 | 国内市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 上证综合指数 | 3455 | -0.09 | 1.91 | | 深证成份指数 | 10413 | -0.61 | 3.73 | | 沪深300指数 | 3944 | 0.02 | 1.95 | | 创业板指数 | 2124 | -1.13 | 5.69 | | 上证国债指数 | 226 | 0.06 | 0.02 | | 上证基金指数 | 6936 | -0.04 | 0.37 | | | | 资料来源:同花顺iFinD | | | 海外市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 中国香港恒生指数 | 24221 | 0.62 | 3.20 | | 中国香港国企指数 | 8725 | 0.54 | 2.76 | | 中国台湾加权指数 | 22578 | 0.11 | 2.42 | | 道琼斯指数 | 44495 | 0.91 ...

【观网财经丨智能早报 7月3日】 百度搜索迎来10年最大改版 京东推出两款AI社交产品 7月2日，有消息称，京东推出两款AI（人工智能）社交产品，分别名为"宠TA"和"聊愈小宇宙"。《每 日经济新闻》记者证实，在京东App中搜索上述名字即可跳转至产品服务界面。据了解，"宠TA"是一个 以数字人、数字宠物为中心的AI社区产品，而 "聊愈小宇宙"是一个识别用户情绪、记录情绪的解压游 戏，为用户提供全天候的心理陪伴服务。（每经网） 腾讯回应微信AI搜索被指开盒 7月2日，在百度"AI DAY"科技沙龙活动中，百度搜索官宣升级和上新了多款AI新产品、新功能，迎来 了近十年最大的改版。最直观的变化是在输入端，搜索框"变大"了，变成了"智能框"，可以满足超千字 的长文本搜索、文件搜索、AI工具调用、语音搜等多模态、更丰富的搜索需求，想怎么搜，就怎么 搜。 从此次百度搜索改版中，通过底层模型能力、中间层工具能力、上层应用的"三层联动"，推动了百度搜 索向AI生态平台方向发展。从"通用化"到"个性化"，从"工具化"到"内容化"，从"信息获取"到"任务完 成"三个方向的演进，百度搜索变化的背后，展现了AI时代，百度为用户自我变 ...

上涨缺乏强有力的驱动，预计在65~80美分/磅区间震荡 从2025年上半年美棉价格的走势来看，整体呈现区间震荡格局，上涨或下跌的驱动力量均不强，震荡区 间在62～70美分/磅。其间，受关税政策的影响，价格波动幅度有所放大。如在4月，中美关税政策涉及 棉花及棉纺织品领域，这使得市场对消费的忧虑情绪升温，美棉价格触及跌停。不过，值得注意的是， 近日美棉价格连收阳线，走势偏强。 国际供需改善幅度不大 从美国农业部（USDA）发布的全球棉花6月供需数据来看，2025/2026年度棉花库存消费比出现小幅下 调，降至65.22%。产量方面，呈现小幅减少态势，较上一年度减少64万吨，降至2547万吨。消费则有所 上调，增加26万吨，达到2564万吨；期末库存小幅下调11万吨，至1672万吨。整体而言，由于产量下降 以及消费上升，棉花期末库存有所下滑，导致整体库存消费比下降，但下降程度有限。 进出口方面，总体态势基本保持平衡。其中，中国进口量下调11万吨，土耳其进口量下调4万吨，孟加 拉国进口量下调2万吨；巴基斯坦进口量上调7万吨。与此同时，巴西和澳大利亚的出口预期分别上调7 万吨和2万吨，而印度的出口预期则下调11万吨。整 ...