当地时间周二，美股市场生出一丝"寒意"，三大指数集体收跌。截至收盘，道指跌0.46%，报44632.99点；纳指跌 0.38%，报21098.29点；标普500指数跌0.30%，报6370.86点。美联储即将结束为期2天的议息会议，据CME"美联储观 察"，美联储7月维持利率不变的概率为97.4%，降息25个基点的概率为2.6%。 个股方面，"网红"减重药司美格鲁肽制造商诺和诺德29日股价暴跌超21%。消息面上，由于减重"招牌"销售失速，且 在海外市场渗透率低于目标，公司将营业利润增长预期从之前的16%—24%下调至10%—16%。而这已经是诺和诺德今 年第二次下调业绩预期。 国际局势方面，据新华社消息，美国总统特朗普29日称，他把俄罗斯与乌克兰达成和平协议的最后期限设定为10天， 从当天开始计算。如果俄方没有就此取得进展，将面临美国新的制裁。 美股三大指数集体收跌 当地时间7月29日，美股三大指数集体收跌。截至收盘，道指跌204.57点，跌幅0.46%，报44632.99点；纳指跌80.29 点，跌幅0.38%，报21098.29点；标普500指数跌18.91点，跌幅0.30%，报6370.86点。 热门科 ...

Group 1 - TikTok Shop cross-border e-commerce has issued a warning regarding fraudulent activities by individuals impersonating TikTok officials to scam users [1][3] - Fraudsters claim to be "TikTok operators" and use fake "official authorization documents" to gain users' trust [1][3] - TikTok Shop has never authorized any external entities or individuals to conduct business under the guise of "operational guidance" or similar titles [3][5] Group 2 - After establishing contact with users, fraudsters use enticing phrases such as "zero experience monthly income over ten thousand" and "guaranteed profits" to lure users into downloading counterfeit TikTok apps [3][5] - The counterfeit apps are disguised using "repackaging" technology, making them appear similar to the legitimate TikTok app, although they may contain misleading features [3][5] - TikTok Shop emphasizes that it does not require merchants to transfer funds to specified accounts and does not charge additional fees for withdrawals [5]

Core Viewpoint - Reddit's unsustainable growth rate is showing signs of cracks, leading analysts to adopt a bearish outlook on the stock due to overvaluation and a shift towards more normalized growth rates [1]. User Growth and Financial Performance - Reddit reported a slowdown in quarterly user growth, with daily active users (DAU) increasing by 31% year-over-year to 108.1 million in the first quarter [3]. - The company has reached 400 million weekly active users, but its second-quarter performance expectations are not optimistic due to ongoing interference from Google [5]. - As of April, DAU totaled 107.6 million, reflecting an 18% year-over-year increase, but the growth rate is normalizing, with a limited sequential increase compared to the first quarter [6]. - The actual logged-in DAU grew by only 23% to 48.7 million, indicating a normalization in high-value user growth, while the growth rate for unlogged users was significantly higher at 51% [6]. - Reddit's revenue has seen substantial growth due to a combination of user growth and a 23% increase in average revenue per user (ARPU) [6]. Market Position and Competitive Landscape - Reddit's ARPU has reached $6.27 in the first quarter, approaching levels seen in other social media companies like Pinterest, which has an ARPU of $6.54 [10]. - The shift in Google's focus towards AI search is expected to pose significant risks for Reddit, as it may reduce the referral traffic from search engines [12]. - The stock price of Reddit has dropped from $230 to $150, despite reporting strong growth, with a current price-to-sales ratio of 14 times [13]. Challenges and Future Outlook - The company faces challenges similar to other social media platforms that struggle to maintain significant user growth as they reach billions in sales [15]. - Despite a strong increase in app downloads in April and May, this did not translate into DAU growth, and a slowdown in downloads in June suggests ongoing difficulties ahead [15]. - Investors should be cautious as Reddit's pricing is based on its own performance rather than sustained user growth driven by AI transformation [16].

7月28日消息，在近期举办的"X Takeover"活动上，埃隆·马斯克收到的一份特殊礼物——一块刻有"信 念"的砖。现场的主持人讲到："观众为你赠送了一块象征性的'砖块'，上面刻着：'这块砖在精神上会飞 翔，因为你让不可能成为现实'"。 以下是马斯克访谈内容摘要： 01.星舰的工程挑战与进展 问：星舰是有史以来最具雄心的火箭，哪些方面比预期更困难？下一个重要里程碑是什么？ 马斯克：我从一开始便预判到项目的各个环节都会极具挑战性，因此实际进展并未出现超出预期的困 难。星舰在诸多方面都堪称一项疯狂的工程。其推力达到土星五号登月火箭的2.5倍，未来版本将提升 至3倍。要知道，土星五号曾是人类历史上体型最大的火箭与飞行载体。与土星五号相比，星舰的推力 是其3倍，重量约为其2倍，而它的目标是实现完全且快速的重复使用，这无疑是一项极端艰巨的工程挑 战。 这场活动，是由特斯拉硅谷车主俱乐部主办的年度盛会，马斯克再一次以线上的方式现身，连续第二年 与粉丝们展开对话。他分享了SpaceX、特斯拉、Neuralink、xAI及X平台的最新进展与未来愿景。 他讲述了星舰的疯狂工程如何将不可能推进现实、关于擎天柱机器人的最新迭代和 ...

智通财经APP获悉，美银全球研究部在7月25日发布的Meta Platforms(META.US)二季度前瞻报告中，重 申"买入"评级，目标价775美元，较当前股价约714.80美元仍有8.4%的上行空间。 广告引擎再显威力，AI投入成焦点 美银认为，Reels与AI推荐算法对时长提升作用明显，但TikTok及YouTube Shorts竞争依旧激烈。 估值与风险：24.5倍2025年市盈率仍处合理区间 以当前股价约713美元计，Meta交易于24.5倍2025年GAAP每股收益(26.83美元)，剔除215亿美元Reality Labs亏损后，核心Facebook业务对应市盈率仅19倍，低于标普500的21.7倍。美银用26倍2026年GAAP EPS(29.16美元)加净现金得出775美元目标价，认为AI商业化潜力尚未充分定价。 美银预计，Meta将在7月30日公布的二季度财报中实现营收455亿美元、每股收益6.12美元，双双高于市 场一致预期的445.89亿美元和5.84美元，并给出三季度指引区间445亿—475亿美元，暗示全年营收可达 1900亿美元，显著高于市场预期的1871亿美元。 美银指出，二季 ...

Summary of Key Points from Conference Call Industry or Company Involved - The discussion primarily revolves around the U.S.-China trade relations and the broader implications for global trade, particularly involving Europe and Japan. Core Points and Arguments - The U.S. is leveraging early engagement with China to apply pressure on Europe during trade negotiations, as the timeline for U.S.-EU talks precedes those with China [1][3] - The Trump administration has increased tariffs, with current agreements generally exceeding 15%, without significant negative impacts on the U.S. economy or stock market [1][3] - Europe faces multiple challenges, including deteriorating relations with China, a passive diplomatic stance due to U.S.-China thawing, and being outpaced by Japan in trade negotiations [1][6] - The upcoming U.S.-China talks in Stockholm aim to ease tensions and delay new tariffs, but a comprehensive agreement is unlikely in the short term [1][7] - U.S.-China leaders are expected to meet during the UN General Assembly in September and the APEC meeting in December, necessitating a reduction in trade friction beforehand [1][8] - The average tariff level imposed by the U.S. on China may stabilize around 40%, reflecting previous tariff structures on Southeast Asian trade [1][10] - Other topics of discussion in the upcoming meetings include TikTok transactions, rare earth supply chains, and Russian oil imports, with significant focus on the implications of secondary tariffs on Russian oil importers [1][11] Other Important but Possibly Overlooked Content - The U.S. is shifting its focus towards supply chain restructuring and international tax issues, moving away from a broad tariff approach to more targeted measures [2][12][13] - The Trump administration is investigating sectors like copper, pharmaceuticals, and semiconductors to attract foreign investment back to the U.S. [14][18] - The trade negotiations since July have emphasized smaller economies to ensure domestic accountability while attempting to negotiate with larger economies like the EU and Japan [15] - The future direction of U.S.-China trade talks is expected to prioritize easing tensions and addressing specific issues rather than immediate tariff reductions [16]

Group 1: Overview of the Acquisition - Larry Ellison has acquired absolute control of Paramount Media for $6 billion, marking a significant shift in the media landscape [2][3][10] - The merger between Skydance and Paramount, valued at $8.4 billion, was approved by U.S. federal regulators, allowing Ellison to expand his media empire [2][10][14] Group 2: Financial Details - Ellison's personal investment of over $6 billion is a minor expense compared to his net worth of over $260 billion [5][10] - Skydance will pay $2.4 billion in cash to Paramount's holding company and $4.5 billion to Paramount's public shareholders, along with an additional $1.5 billion for business expansion and debt repayment [13][14] Group 3: Industry Context - The acquisition reflects a broader trend of consolidation in the media industry, with major companies like MGM and Warner Bros. undergoing significant changes [10][11] - Paramount, once a media giant under the Redstone family, has struggled with declining revenues and losses, prompting the sale to Ellison [13][14] Group 4: Political Implications - The deal has sparked controversy, particularly due to allegations of political influence, as Ellison has ties to former President Trump [15][22][24] - The FCC's approval of the merger was contentious, with accusations of corruption and concerns over media impartiality [15][16][20] Group 5: Future Prospects - The newly formed company, Paramount Skydance, will compete with major players like Disney and Netflix, indicating a shift towards a "content + platform + capital" model [14][20] - Ellison's family will have significant control over the new entity, with David Ellison set to become CEO [14][24]

Key Points - Taobao launched a Thai version in Thailand, with a 60% year-on-year increase in new users since its launch [5][6] - TikTok's revenue for 2024 is projected to reach $23 billion, a 42.8% year-on-year growth, making it the fourth largest social app globally [11][12] - Yushutech has officially started its IPO process, aiming to become the first listed company in the field of embodied intelligence in mainland China [14][15] - LABUBU's monthly sales are expected to reach nearly 10 million units, with significant growth in overseas sales anticipated [17][18] - BYD has become the global automotive partner of Inter Milan, providing around 70 electric vehicles to the club [24] - Yingshi Innovation is entering the drone market, planning to launch its own drone brand [26] - Xpeng Motors has officially launched its first overseas manufacturing base in Indonesia [28] - The overseas online literature market is expected to exceed 5 billion yuan in 2024, with a significant increase in overseas authors [31] - OpenAI is set to launch GPT-5, with plans for various versions and a significant increase in GPU usage [32][40] - Uber has launched an official WeChat mini-program to facilitate overseas travel for Chinese tourists [35] Taobao Expansion - Taobao has launched a Thai version, supporting Thai, English, and Chinese languages, with a significant increase in new users [5][6] - The platform's GMV during the recent 618 shopping festival showed robust growth, particularly in women's shoes, which saw over 200% year-on-year growth [6] TikTok Performance - TikTok's revenue is projected to reach $23 billion in 2024, with a 42.8% increase from the previous year [11] - The app's overseas business revenue grew by 63%, accounting for a quarter of ByteDance's total revenue [11][12] Yushutech IPO - Yushutech has initiated its IPO process, aiming to be the first listed company in the embodied intelligence sector in mainland China [14][15] LABUBU Sales - LABUBU's monthly sales are projected to approach 10 million units, with overseas sales expected to surpass domestic sales by 2025 [17][18] BYD Partnership - BYD has signed a three-year strategic partnership with Inter Milan, providing around 70 electric vehicles to the club [24] Drone Market Entry - Yingshi Innovation is planning to enter the drone market with its own brand and evaluate investment opportunities in the sector [26] Xpeng Motors Manufacturing - Xpeng Motors has officially launched its first overseas manufacturing base in Indonesia, marking a significant step in its global expansion [28] Online Literature Market - The overseas online literature market is projected to exceed 5 billion yuan in 2024, with a notable increase in the number of overseas authors [31] OpenAI Developments - OpenAI is preparing to launch GPT-5, with plans for various versions and a significant increase in GPU usage [32][40] Uber WeChat Mini-Program - Uber has launched an official WeChat mini-program to facilitate overseas travel for Chinese tourists, enhancing user experience [35]

Group 1: Federal Reserve and Economic Pressure - President Trump visited the Federal Reserve for the first time in nearly 20 years, breaking the tradition of distance between the White House and the Fed, raising concerns about the Fed's independence [6][12] - During the visit, Trump confronted Fed Chair Powell over a $2.5 billion renovation budget that exceeded initial estimates by $700 million, attributing the cost overruns to rising tariffs and material costs [9][10] - Trump reiterated his desire for interest rate cuts, claiming that a reduction of three percentage points could save the U.S. over $1 trillion [10][12] Group 2: Market Reactions and Future Expectations - Following Trump's visit, the probability of the Fed maintaining interest rates unchanged in July rose to 97.4%, with only a 62.1% chance of a rate cut in September [10][12] - Despite Trump's denial of plans to dismiss Powell, there are signals from the White House suggesting that the budget overruns could be used as justification for Powell's potential removal [12][16] - Market expectations indicate that traders anticipate the Fed will be more aggressive in cutting rates next year, with a projected 75 basis points cut compared to earlier expectations of 25 basis points [12][17] Group 3: Meta's AI Leadership Appointment - Meta appointed Shengjia Zhao, a key figure in the development of ChatGPT, as the Chief Scientist of its Superintelligence Lab, reporting directly to CEO Mark Zuckerberg [20][21] - Zhao's appointment is part of Meta's significant investment in AI, with Zuckerberg committing to invest "tens of billions" in AI infrastructure [21] - The establishment of the Superintelligence Lab aims to gather top AI researchers to focus on next-generation foundational models and AI products [21] Group 4: International Conflicts and Trade Discussions - Ongoing border conflicts between Thailand and Cambodia have resulted in 32 deaths, with both sides accusing each other of initiating hostilities [22][24] - The upcoming meeting between U.S. and EU leaders on July 27 is set to address trade cooperation and disputes, with Trump indicating a 50% chance of reaching a trade agreement [27] - The EU has prepared countermeasures against U.S. tariffs, including a plan to impose retaliatory tariffs on $93.1 billion worth of U.S. products if no agreement is reached by August 7 [27]

Group 1 - Elon Musk's political ambitions have led to significant declines in the valuations of Tesla and SpaceX, with Tesla's stock down 23% and SpaceX's valuation down 15% since the announcement of the "American Party" in July 2024 [2] - The acquisition of Twitter for $44 billion has resulted in a 60% drop in Tesla's stock over 18 months, equating to a loss of market value equivalent to three times the purchase price of Twitter [3] - Musk's establishment of the "American Party" has triggered a bipartisan backlash, with both Democratic and Republican leaders expressing strong opposition [4] Group 2 - The political landscape poses significant challenges for Musk, as 37 out of 50 states require third-party candidates to gather thousands of signatures for ballot access, making his political goals mathematically improbable [4] - Institutional investors have reduced their holdings in Tesla from 68% in 2021 to 42%, with short positions reaching a record $12 billion, indicating a loss of confidence in Musk's leadership [4] - Historical parallels can be drawn between Musk's situation and that of Ross Perot and John D. Rockefeller, highlighting the risks of political engagement for business leaders [6] Group 3 - Despite the challenges, Musk retains a substantial user base on the X platform, with 250 million monthly active users, which could influence election outcomes by attracting moderate voters [7] - Musk's simultaneous engagement in political and business arenas is straining his resources, particularly time and credibility, as regulatory hurdles arise for Tesla's operations in Germany and SpaceX's projects [9] - The outcome of Musk's political gamble could redefine the relationship between capital and power, with historical precedents suggesting a potentially costly lesson for tech leaders attempting to navigate political landscapes [10]