U.S. financial markets are closed today, Thursday, January 1st, 2026, in observance of the New Year's Day holiday. Both the New York Stock Exchange (NYSE) and Nasdaq will remain shut, with regular trading hours set to resume on Friday, January 2nd, 2026. This market holiday provides a pause for investors to reflect on a remarkably strong 2025 and to strategize for the opportunities and challenges that the new year may bring.2025 Closes with a Slight Pullback, But Stellar Annual GainsThe final trading day of ...

科技为国而商，为需而兴——2025年中国商业科技的发展与2026年展望 崔传刚 新经济学家智库特约研究员 2025年，由中美主导的全球商业科技竞争，已经进入"近身博弈"的深化期，与此同时，中国科创力量在商业化赛道的强势崛起，正成为重塑全球产业格局 的关键变量。从人工智能大模型的规模化落地到人形机器人产业的场景渗透，从商业航天的规模化运营到"太空经济"的多元探索，以至于半导体芯片的自 主突破与光刻机的技术攻坚，中国的商业科技产业正在以一种"技术突破—场景验证—商业变现"的闭环发展模式，勾勒出前途远大的发展图景。 在这一年，中国的商业科技与实体经济持续深度融合，既加速推动了新质生产力的形成、夯实了中国的硬经济根基，更鲜明呈现出一种核心趋势：中国科 技商业化的进程不再仅局限于单纯经济价值的创造，而是已然与国家的战略需求形成高度协同。在一系列的关键领域，科技商业化和国家战略已形成 了"产业赋能国家、国家支撑产业"的良性互动态势，商业价值的创造与国家利益的增进正变得越发同步。 这一趋势，可以说是全球科技竞争逻辑演变的一种必然结果，同时也深受各国产业发展的客观差异影响。 来源：经济学家圈 从国际视野看，科技中立主义正日渐 ...

当日上午，峰飞"凯瑞鸥"吨级物流飞行器与亿航EH216-S无人驾驶载人航空器从海口明珠岛升空，向广 东湛江徐闻港平稳进发。在复杂海洋气象条件下，飞行器凭借精准导航与稳定控制系统，历时10多分钟成功 跨越琼州海峡，完成全国首例吨级无人驾驶航空器跨海和无人机场景应用演示系列验证。 文/海南日报全媒体记者 邵长春 图/海南日报全媒体记者 袁琛 2025年12月31日，海南自贸港"向天图强"首例吨级无人驾驶航空器跨海峡低空飞行暨无人机场景应用演 示系列活动在海口举行。 通讯员 李坤东 ...

Core Viewpoint - Air China has entered into an agreement to purchase 60 Airbus A320NEO series aircraft, with a total list price of approximately $9.53 billion, benefiting from significant price concessions from Airbus [1] Group 1: Aircraft Purchase Agreement - The agreement involves the purchase of 60 Airbus A320NEO series aircraft from Airbus [1] - The total list price for the aircraft is approximately $9.53 billion [1] - Airbus has provided considerable price concessions, which will be in the form of credit memoranda that can be applied towards the final payment or used for purchasing goods and services from Airbus [1] - The actual consideration for the aircraft purchase will be lower than the list price due to these negotiated concessions [1]

Group 1 - Plug Power plans to grow its revenue by 30% annually from 2025 to 2030, with Wall Street projecting $2.1 billion in revenue and profitability in 2030 [1] - Lucid Group has two of the top 10 electric vehicles according to Car & Driver and is financially backed by the Saudi Arabian Public Investment Fund, its majority shareholder [2] - Boeing is expected to earn its first profit after eight years of losses as it recovers from issues with the 787 Dreamliner and other projects, indicating a potential turnaround [3] Group 2 - Despite the optimistic projections for Plug Power, Lucid Group, and Boeing, the analysis suggests these companies may not be good investment choices, with a higher risk of significant losses [4] - Plug Power is viewed as the weakest among the three, with a history of failing to meet its promises and delivering disappointing results [5][6] - Boeing, while having the most potential for recovery, is still experiencing a long-term decline, raising concerns about its future performance [5]

Core Viewpoint - Firefly Aerospace Inc. is facing a class action lawsuit due to alleged violations of securities laws related to its IPO and subsequent financial disclosures, which reportedly misrepresented the company's operational readiness and financial performance [1][3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Diamond v. Firefly Aerospace Inc. and involves claims against the company and its executives for misleading statements made during the IPO and throughout the class period from August 7, 2025, to September 29, 2025 [1][3]. - The lawsuit alleges that Firefly Aerospace overstated demand for its Spacecraft Solutions and the viability of its Alpha rocket program, which could have a significant negative impact on the company once revealed [3][4]. Group 2: Financial Performance - Firefly Aerospace reported a loss of $80.3 million for Q2 2025, an increase from a loss of $58.7 million in Q2 2024, and revenue of $15.55 million, which was below analyst expectations of $17.25 million and a 26.2% decrease from the previous year [4]. - The company's Spacecraft Solutions segment reported revenue of only $9.2 million, reflecting a 49% year-over-year decline, contributing to a significant drop in share price of over 15% following the earnings report [4]. Group 3: Subsequent Developments - On September 29, 2025, Firefly Aerospace disclosed an incident involving the loss of the first stage of its Alpha Flight 7 rocket, which led to a further decline in share price of more than 20% [5].

Market Overview - The Dow Jones Industrial Average closed down 94.87 points (-0.1958%) on December 31, 2025, reflecting a broader trend of lower stock futures and pressure on technology and AI stocks [1] - Year-end profit-taking and concerns about the technology sector, particularly AI-focused companies, were significant narratives influencing the market [2] Sector Performance - The S&P 500 and Nasdaq had a robust year with significant gains driven by advancements in AI [2] - Commodity markets, including gold, silver, and copper, saw notable upward movement after earlier declines [2] Company Highlights - Nike (NKE) was the top gainer in the Dow, rising 1.50% following news of its CEO's share purchase [3] - Other strong performers included Chevron (CVX) up 0.87%, UnitedHealth Group (UNH) gaining 0.74%, Boeing (BA) increasing 0.69%, and Walt Disney (DIS) advancing 0.60% [3] - IBM (IBM) was the biggest laggard, falling 1.32%, with other significant losers including Goldman Sachs (GS) down 0.98%, Cisco Systems (CSCO) declining 0.87%, Nvidia (NVDA) dropping 0.61%, and Walmart (WMT) decreasing 0.60% [3]

Group 1 - Federal contracts have played a significant role in the success of Tesla and SpaceX, as highlighted by investor Ross Gerber [1][2] - Over the past two decades, Tesla and SpaceX have received more than $38 billion in federal contracts, subsidies, or loans [3] - SpaceX has utilized a legal tax benefit to offset future taxable income, saving over $3 billion by using more than $5 billion in losses incurred by the end of 2021 [5] Group 2 - SpaceX was a frontrunner in the Golden Dome missile defense system and received $119 million in funding from Montana for its Starlink service [4] - Tesla's sales were boosted by the $7,500 Federal EV Credit, which was recently scrapped [6] - Elon Musk criticized Senator Bernie Sanders, emphasizing that his wealth is tied to the performance of Tesla and SpaceX [7]

Core Insights - Shenzhen has produced a number of globally impactful companies, showcasing a shift from "Made in China" to "Created in China" [2] - The 45th anniversary of Shenzhen Special Economic Zone marks a significant milestone in its rapid modernization and brand development [2][3] - The "Shenzhen Brand Development White Paper (1980-2025)" outlines the evolution of Shenzhen's brands and their internal logic and success factors [3][5] Group 1: Brand Evolution - Shenzhen's brand journey reflects a transition from manufacturing to innovation, with key phases including the emergence of local brands in the 1980s and 1990s, and the rise of autonomous brands in the early 2000s [7][10] - The current phase is characterized by cluster upgrades, with companies like Tencent, BYD, and DJI leading in various sectors [8][10] - As of now, Shenzhen has cultivated 1,220 notable local brands, including 13 billion-level brands and 7 trillion-level brands, with Tencent, Ping An, and Huawei each exceeding a brand value of 490 billion [10][11] Group 2: Economic Contributions - The 1,220 notable brands contribute 47.97% of the city's sales, 42.05% of tax revenue, and 32.87% of exports, serving as the backbone of Shenzhen's high-quality economic development [11] - These brands span critical sectors such as electronics, renewable energy, biomedicine, high-end equipment, financial services, and digital economy, forming a robust industrial structure [11] Group 3: Brand Development Factors - Shenzhen's brand success is attributed to a unique ecosystem supported by policy innovation, technological advancement, and collaborative industrial frameworks [15][16][19] - The government has played a crucial role in creating a conducive environment for brand growth through targeted policies and regulatory frameworks [16] - Innovation drives brand competitiveness, with companies investing over 10% of their annual revenue in R&D, fostering a comprehensive innovation ecosystem [17] Group 4: Global Expansion and Responsibility - Shenzhen brands have established clear pathways for international expansion, evolving from processing trade to localized operations and global standardization [20] - Social responsibility is ingrained in the corporate strategy, enhancing brand value and sustainability through practices like tax compliance and community support [21] Group 5: Future Outlook - The release of the white paper is a significant step in documenting Shenzhen's brand journey and providing strategic guidance for future brand development [31] - Shenzhen's brands are expected to continue thriving in emerging sectors like digital and low-altitude economies, contributing to the global narrative of Chinese brands [33][34]

Billionaire Elon Musk has hit back at Sen. Bernie Sanders' (I-VT) criticism of his wealth, sharing that his assets primarily comprise Tesla Inc. (NASDAQ:TSLA) and SpaceX shares.Check out the current price of TSLA here.Elon Musk Calls Bernie Sanders A ‘Taker'Musk took to the social media platform X on Tuesday, sharing that most of his assets are in the form of shares in his two major companies, which only increase in value based on "how much useful product those companies produce and service," he said.Musk a ...