先说说昨天夜里的盘面，挺有意思的——道指、纳指、标普500仨指数，连着第三天创历史新高，标普盘中一度冲到6911点，眼看就要站稳6900关口，结果 收盘又缩回去了，报在6890点。就跟爬山似的，费劲爬到山顶，没站稳又退了半步。那边英伟达倒是猛，大涨近5个点，股价破200美元，市值都快摸到4.9 万亿美元了，科技股的劲头还是足。 为啥能连涨三天？背后不是没原因的。上周末中美在吉隆坡磋商，说是形成了初步共识，贝森特也说为领导人会谈准备了框架，特朗普更是直接放话"要达 成协议"——国际贸易这块的紧张感一降，市场就松了口气。还有ADP就业数据，10月私营部门岗位从9月的负增长转成正的，每周增14000多，虽说不算特 别亮眼，但好歹是止跌回升，给劳动力市场添了点信心。更关键的是，美联储今天开始开两天议息会，市场都等着今年第二次降息，甚至盼着鲍威尔放话12 月再降——钱要变松，资金自然愿意往股市里跑。但热闹背后也有凉风吹，亚马逊昨天宣布要搞史上最大规模裁员，科技行业裁员潮还没停，这也是个隐 忧。 早上一睁眼，手机推送就炸了——美股又双叒创新高了，标普500都摸到6900点了！估计不少朋友盯着屏幕嘀咕：这行情到底是真强，还 ...

Group 1 - Company Jiao Da Si Nuo (SZ 300851) announced on October 29 that it will recognize an asset impairment provision, which will reduce the company's operating profit for the period from January to September 2025 by approximately 7.85 million yuan [1] - The asset impairment provision will also decrease the company's equity as of September 30, 2025, by approximately 7.85 million yuan [1] - The asset impairment provision has not been audited by an accounting firm [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation [1] - The technology sector is leading the market's transformation, indicating the onset of a "slow bull" market pattern [1]

Market Overview - The US stock market continued to rise on October 28, with the Dow and Nasdaq slightly up, while the S&P 500 approached breakeven as investors awaited earnings reports from major tech companies and the Federal Reserve's two-day meeting [2][4] - Major tech companies including Microsoft, Alphabet, Meta, Amazon, and Apple, which account for about a quarter of the S&P 500's weight, are set to report earnings this week, with a focus on capital expenditure expectations [3] Capital Expenditure Insights - Analysts predict that combined capital expenditures for Microsoft, Alphabet, Amazon, and Meta will reach $360 billion in the current fiscal year, with a significant portion related to artificial intelligence [3] - This figure is expected to rise to nearly $420 billion next year, indicating a strong investment trend in AI technologies [3] Nvidia's Investment in Nokia - Nvidia announced a $1 billion equity investment in Nokia, marking a significant endorsement of Nokia's shift from mobile network equipment to an AI-focused strategy [6] - Nokia will issue approximately 166 million new shares at $6.01 each, resulting in Nvidia holding a 2.9% stake in the company [6] - Nvidia's chips will be utilized to enhance Nokia's software for 5G and 6G networks, while Nvidia will explore integrating Nokia's data center technology into its AI infrastructure [6] Nokia's Stock Performance - Following the announcement of Nvidia's investment, Nokia's stock surged nearly 20% [7]

Core Insights - Tianhong Technology (CLS.US) shares rose over 6%, reaching a new all-time high, with a year-to-date increase of 246% [1] Financial Performance - The company reported Q3 revenue of $3.19 billion, a 28% year-over-year increase, surpassing the expected $3.02 billion [1] - Adjusted earnings per share (EPS) for Q3 were $1.58, a 52% year-over-year increase, exceeding the anticipated $1.47 [1] Future Outlook - The company raised its full-year 2025 guidance, increasing revenue from $11.55 billion to $12.2 billion and adjusted EPS from $5.50 to $5.90 [1] - For the first time, the company provided guidance for 2026, projecting revenue of $16 billion, a 31.2% increase, and adjusted EPS of $8.20, a 39% increase [1]

Core Viewpoint - The U.S. stock market opened slightly higher, with major indices showing positive movement, particularly in technology stocks, indicating strong investor sentiment and potential growth opportunities in the sector [1] Group 1: Company Performance - Microsoft (MSFT.US) shares rose nearly 3%, with its market capitalization surpassing $4 trillion, following a significant contract with OpenAI for an additional $250 billion in Azure services [1] - Apple (AAPL.US) saw a slight increase of 0.2% in its stock price, marking its market capitalization crossing the $4 trillion threshold for the first time, making it the third U.S. company to achieve this milestone [1] - Other notable tech stocks, including Tesla (TSLA.US), Nvidia (NVDA.US), and Broadcom (AVGO.US), experienced gains of over 1% [1] Group 2: Market Sentiment and Economic Indicators - Morgan Stanley analyst Samik Chatterjee projected that Apple's services business could account for 25% of total revenue, contributing up to 50% of profits, highlighting the strong user engagement with products like Apple Pay and iCloud subscriptions [1] - Positive macroeconomic signals, ongoing capital inflows, and seasonal trends are driving bullish sentiment on Wall Street, with the S&P 500 index closing at a record 6875 points, fueled by favorable trade signals, interest rate cut expectations, and strong corporate earnings [1] - Strategists from multiple institutions believe the market is poised to break the 7000-point barrier, with 7500-7700 points identified as the next target range [1]

首先是市场愈发聚焦的资金流数据显示，散户与机构投资者们正不断涌入美股市场，并且更重要的是——技术分析指标 显示在这一整数里程碑之前技术层面阻力非常微弱。作为一种季节性的怪癖——9月与10月往往是股票市场的疲软时 期，然而，刚刚过去的一周在经历过的75年中是对股票市场最为有利的一周。无论是基本面预期、技术面还是资金流， 抑或是历史流数据都已经充分铺垫，标普500指数冲破7,000点这一超级关口可能就是在最近几个交易日。 "推动风险资产走高的催化剂根本不缺少。"来自瑞银证券的对冲基金股票衍生品销售主管Michael Romano周日在致客户 们的一份研究报告中写道。"曾被视为年末7,100点的'蓝天极限情景'，正迅速成为市场的基准情景，因为市场把明年的 上行预期提前反映并定价了。" 对于一些立场谨慎的投资者而言，这种乐观情绪无疑将在本周面临严峻考验，因为驱动美股自2023年以来牛市行情且在 标普500指数中占据高权重的"七大科技巨头"中的五家科技巨擘将于美东时间周三和周四美股收盘之后公布业绩。 智通财经APP获悉，随着一场季节性的剧烈波动基本上已经过去，看涨美国股市的华尔街对冲基金以及机构投资者们正 排队押注标普 ...

Group 1 - Company Jiulian Technology (SH 688609) reported a revenue of approximately 1.761 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 6.28% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 120 million yuan [1] - As of the report date, Jiulian Technology's market capitalization was 4.8 billion yuan [2] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with the technology sector leading the market's transformation [2] - A new "slow bull" market pattern is emerging, indicating a shift in market dynamics [2]

Economic Outlook - The upcoming week will feature significant tech earnings on Wednesday and Thursday, alongside a crucial meeting between US and Chinese leaders on Thursday [1] - The Federal Reserve's decision is anticipated, but the ongoing government shutdown complicates data availability for October, leading to uncertainty for November as well [2][9] Labor Market Insights - The Chicago Fed's real-time unemployment forecast estimates an unemployment rate of 4.35% for October, showing little change from September's 4.3% [3] - Despite the lack of comprehensive data due to the shutdown, there is no indication of a significant deterioration in the labor market [4] Data Collection Challenges - The Federal Reserve's ability to gather accurate data is hindered, with the next meeting scheduled for December 10, leaving a gap in data collection for potentially one to three months [9][12] - The reliance on electronic sources for job data may allow for some estimates, but the unemployment number remains challenging to obtain due to its dependence on telephone surveys [8] Inflation and Consumer Confidence - There is a possibility of obtaining a reasonable estimate for the October CPI report if the government shutdown ends early in November, as only 2.5% of the sample is needed for a reasonable estimate [6] - Consumer confidence and jobless claims data will be monitored, although the overall data week is expected to be light due to cancellations [4][5]

Key Points There are growing signs of economic weakness, making the Federal Reserve's job harder. Meanwhile, stock prices have soared faster than underlying earnings, pushing valuations higher. Powell warns there's "no risk-free path" going forward -- here's what to do. These 10 stocks could mint the next wave of millionaires › The current bull market is showing no signs of slowing down anytime soon. The S&P 500 climbed nearly 40% from its April lows. The tech-heavy Nasdaq Composite soared even h ...

Group 1: U.S. Macro Strategy - The Federal Reserve is expected to lower interest rates by 25 basis points in both October and December meetings, bringing the year-end policy rate to a range of 3.5-3.75% [2] - September's U.S. CPI data was weaker than expected, with a year-on-year increase of 3.0% and a month-on-month increase of 0.3%, indicating short-term inflation concerns may be alleviated [2] - The U.S. economy is facing downward pressure, with a significant tightening in fiscal stance reflected in a surplus of $25.4 billion for week 42, compared to the same period last year [3] Group 2: U.S. Equity Market - The S&P 500 index rose by 1.9% last week, supported by strong corporate earnings and the expectation of continued rate cuts from the Federal Reserve [3] - Despite the current resilience in the U.S. stock market, uncertainties are rising, with high valuations primarily driven by AI narratives and tech giants' earnings [3] - The risk premium in the U.S. stock market is low, which may not align with potential credit and geopolitical risks [3] Group 3: U.S. Debt Market - Due to lower-than-expected inflation, expectations for rate cuts have strengthened, leading to a forecasted decline in U.S. Treasury yields [4] - The long-term interest rates face pressure from concerns over U.S. fiscal sustainability and the independence of the Federal Reserve, limiting their downward potential [4] Group 4: Chinese Macro Strategy - High-frequency data indicates a contraction in durable goods consumption and real estate transactions, with new home sales in 30 major cities down by 23.6% year-on-year [7] - Industrial enterprise profit growth accelerated to 21.6% year-on-year in September, supported by low base effects and recovery in upstream product prices [8] - Exports are expected to remain stable in October, with positive signals from recent U.S.-China trade discussions [9] Group 5: Chinese Equity Market - The A-share market saw a 2.9% increase last week, driven by liquidity support and stable economic fundamentals [11] - Growth and small-cap stocks are expected to outperform, with technology sectors showing high investment interest [11] - The Hong Kong stock market rebounded by 3.6%, benefiting from improved U.S.-China trade relations and favorable policies for the technology sector [12]