AvaTrade爱华每日市场报告：在经历了周一的普遍下跌后，全球市场于周二（12月2日）呈现出一种复杂的"谨慎反弹"格局。主要美国指数虽多数收涨，暂 时缓解了市场的紧张情绪，但波动性并未远离，投资者在国债收益率高企与关键政策事件来临前的审慎心态，为这场反弹的成色打上了问号。市场正试图在 乐观的风险偏好与对潜在风险的警惕之间寻找新的平衡点。 | 12:30am | D | AUD | 1 | GDP q/q | | --- | --- | --- | --- | --- | | 7:30am | D | CHF | 1 | CPI m/m | | 10:00am | D | EUR | U | PPI m/m | | 1:15pm | ) | USD | I | ADP Non-Farm Employment Change | | | )) | EUR | U | ECB President Lagarde Speaks | | 3:00pm | )) | USD | I | ISM Services PMI | | 3:30pm | )) | EUR | I | ECB President Lagarde S ...

美国空军发布的声明说，事故发生在当地时间10时45分左右，这架战斗机正在划定空域展开训练任务。 当地消防部门说，飞机坠毁地点靠近荒漠中的一个小型居民点，位于洛杉矶以北约270公里处。 "雷鸟"飞行表演队驻扎在内华达州的内利斯空军基地。 来源：新华社 美国空军"雷鸟"飞行表演队一架F-16C型战斗机3日在加利福尼亚州一处荒漠坠毁，飞行员弹射逃生受轻 伤。 ...

来源： 央视新闻 A 股，突 变！5 连 板 牛 股，闪 崩 跌 停！2 9 万 手 封 死！航 天 股 大 爆 发，3 0 0 0 9 5 猛 拉，直 线 2 0 c m 涨 停 内华达州内利斯空军基地发布的一份声明称，一架F-16C"战隼"战斗机在当地时间10时45分 左右执行训练任务时"在加利福尼亚州的管制空域上空"坠毁。 "雷鸟"飞行表演队驻扎在内华达州的内利斯空军基地。 当地时间12月3日， 美国空军"雷鸟"飞行表演队一架F-16C型战斗机在加利福尼亚州南部沙 漠坠毁。 飞行员弹射逃生，目前在医院接受治疗，无生命危险。 ...

Group 1 - Aerospace ETF (159227) has risen by 1.23% as of 10:33 AM on December 4, with a trading volume of 1.53 billion yuan, leading its category. Key holdings such as Aerospace Development and Aerospace Electronics have hit the daily limit, while China Satellite, Hangxin Technology, and Shanghai Hanxun have also seen gains [1] - The latest share count for Aerospace ETF (159227) has reached 1.894 billion shares, with a total asset size of 2.148 billion yuan, both marking new highs since its inception [1] - A conference titled "Winning in the Sky: Progress on Space Data Center Construction" was held in Beijing, where a construction plan for a space data center was announced. The first space data center is expected to be completed by 2030, providing large-scale services for ground and satellite users [1] Group 2 - Guotai Junan Securities emphasizes the need for increased defense investment due to the increasingly complex international environment. It highlights the importance of advanced aircraft, missiles, and efficient equipment like rockets for sustained military operations, suggesting a positive long-term trend for the military industry [1] - The Aerospace ETF (159227) closely tracks the National Aerospace Index, which has a high concentration of core companies in China's military industry, covering new sectors like large aircraft and low-altitude economy. The military industry accounts for 98.2% of the index, with a higher focus on aerospace equipment compared to other indices [2] - The National Aerospace Index emphasizes the high technical barriers in the aerospace sector, which holds a significant value share within the military industry chain [2]

12月3日，市场全天震荡调整，创业板指跌超1%，早盘一度涨超1%。截至收盘，沪指跌0.51%，深成指 跌0.78%，创业板指跌1.12%。沪深两市成交额1.67万亿，较上一个交易日放量765亿。全市场超3800只 个股下跌。 从板块来看，超硬材料概念表现活跃，煤炭板块走强，风电板块拉升，商业航天概念午后冲高。下跌方 面，AI应用概念集体走弱。板块方面，培育钻石、煤炭、风电设备等板块涨幅居前，AI应用、锂矿等 | 名称 | 最新点位 | 涨跌幅 | | --- | --- | --- | | 上证指数 | 3878 0 | -19.71(-0.51%) | | 深证指数 | 12955 25 | -101.45(-0.78%) | | 创业板指 | 3036.79 | -34.36(-1.12%) | | | 日期:12月3日 制图:21投资通 | | 据商务部网站，2025年1—10月，我国服务贸易稳步增长，服务进出口总额65844.3亿元（人民币，下 同），同比增长7.5%。其中，出口29090.3亿元，增长14.3%；进口36754亿元，增长2.6%；服务贸易逆 差7663.7亿元，同比减少2693.9亿 ...

Summary of Honeywell International Conference Call Company Overview - **Company**: Honeywell International (NasdaqGS: HON) - **Event**: Goldman Sachs Industrials and Materials Conference - **Date**: December 03, 2025 Key Points Company Performance and Strategy - Honeywell has had a busy year with significant progress under the new CFO, focusing on investor confidence and reliable forecasts, achieving three consecutive earnings beats [5][6][8] - The company is pivoting towards growth through New Product Introductions (NPI) and has reinvested in R&D to enhance connectivity between engineering and product teams [6][8] - Orders increased by 22% in the fourth quarter, indicating strong demand and positive momentum heading into 2026 [8][36] Separation and Simplification - Honeywell is preparing for a separation into three focused companies, which is expected to enhance operational efficiency and market positioning [10][12] - The separation aims to simplify the company structure and improve focus on core business areas, particularly in aerospace and automation [10][11][12] Aerospace Segment Insights - Aerospace margins are expected to improve as the business has bottomed out, with several tailwinds including acquisitions and better pricing strategies [23][24][25] - The supply chain is stabilizing, with a reduction in days of supply, indicating improved operational health [26] - Organic growth in aerospace is projected to be high single digits, with aftermarket and defense segments performing well [30][32] Pricing and Tariff Impact - Honeywell anticipates a 5% growth for the year, with 3% attributed to pricing adjustments that have helped offset tariff impacts [19][20] - The pricing environment is mixed, with some segments experiencing low demand while others, like LNG, are performing well [21][22] Building Automation and Market Trends - The Building Automation business has shown strong growth, driven by high demand in data centers and AI investments [51][52] - The segment is expected to continue growing, with margins supported by acquisitions and operational efficiencies [54][55] Industrial Automation and Process Business - The Industrial Automation segment is undergoing a strategic review, with a focus on organic growth and potential M&A opportunities [58][62] - Demand in the life cycle and aftermarket segments remains strong, while project volumes are currently lower [59] Future Outlook - Honeywell is optimistic about 2026, with strong order backlogs and a disciplined approach to cost management and pricing strategies [45][46] - The company is focused on achieving its long-term growth framework of 4% to 7% organic growth and 40 to 60 basis points of margin expansion [47][48] AI and Technological Advancements - Honeywell is leveraging AI across various functions to enhance productivity, particularly in engineering and proposal processes [70][72] - The company is excited about the potential of AI to drive efficiencies and improve customer interactions [71][73] Quantinuum and IPO Considerations - Honeywell is pleased with the progress of Quantinuum and is considering a potential IPO in the next 24 months, focusing on commercialization and customer demand [74][75] Conclusion - The company is in a transition phase, aiming for a cleaner and more focused business structure post-separation, with expectations for a stronger performance in 2026 [76]

随后，澳门特别行政区招商投资促进局李思寻主任详细介绍了该局的职能与新一年的业务规划。她提 到，基于澳门计划在2029年底前建设澳门科技产业园的目标，投促局将重点围绕集成电路、航空航天、 生物医药、数字经济等领域，与内地赴澳企业开展合作，并配套推出包括税收优惠在内的一系列支持政 策。同时，李主任也欢迎内地企业积极参与澳门国际贸易投资展览会（MIF）、环保展等本地知名展 会。 在之后的交流中，双方就川商企业产业出海、重点产业招商引资合作，以及展会会议、葡语国家经贸考 察等板块进行了深入探讨，共同期待在新的一年里推动具体合作项目落地。 为贯彻商会"聚合川商，融通国际，创享未来"的核心价值观。12月2日，四川省川商经济国际合作商会 秘书长王璐（代）携国际部刘金菲女士一行，拜访了澳门特别行政区招商投资促进局成都代表处，受到 该局李思寻主任、梁洁副主任、周田副主任一行的热情接待。 会上，商会秘书长王璐（代）首先介绍了商会的职能定位、业务布局及会员企业出海近况。他表示，商 会持续助力会员企业进行政策申报、外贸拓展与产业孵化，今年更着力构建专委会机制，以进一步提升 行业服务的针对性与渗透力。商会目前拥有近300多家会员企业， ...

先聊个和市场无关的。 释放的信号已经非常明显，如果把2025年成为金融机构出清的元年，那么，往后若干年，这股趋势一定会越来越强，而非逐步减弱。 在去年底的《 2025金融行业的十大猜想 》，对于金融机构这块，咱们就提到，下图，各类机构的出清潮，都会加速。 今天，zy金融办副主任发表了一篇署名文章，其中提到： " 稳步有序推动中小金融机构兼并重组、减量提质。 " 我们可以举出大量今年已经发生的案例，有些可能大家也比较熟悉。 比如 证券业 ，发生在眼前的，就是中金吸收合并东兴、信达的事儿； 银行业 ，也是上个月，吉林的九台农商宣布从港股退市，而背后的大棋，是吉林省年中已完成260亿专项债发行，后续要进一步推进省内农商系统的大合 并； 保险业 ，前期被忠旺系掏空，而被实施贴身监管的君康人寿，上个月被山东国资发起的富泽人寿接管； 信托业 ，此前被爆出董事长用锤子殴打总经理的华信信托，上月底，破产重整的申请获批复，成为我国第三家进入破产程序的信托公司； 公募 这边，其实也有，前阵子，华夏银行就接手了一家此前危在旦夕的机构。 等等。 包括 私募 这边，大家也会发现，虽然这两年行情反弹，但是大家应该没听说过什么突然异军突起 ...

12月3日，据央视财经消息，当地时间周二，市场继续聚焦美联储降息前景，投资者对全球金融市场流动性紧缩的担忧 情绪有所缓解。 连日来，美股科技巨头加快AI技术布局与相关投资，推动以科技股为主的成长股估值修复，美国三大股指周二集体收 涨。截至收盘，道指涨0.39%，标普500指数涨0.25%，纳指涨0.59%。 重点个股方面，波音高管周二表示，公司正酝酿逐步提高产能，预计2026年将实现数十亿美元的正向现金流，从而改变 自2023年以来现金流为负的局面。公司的乐观预期获得机构分析师认可，波音股价周二大涨10.15%。美股航空股周二也 普遍上涨，美联航上涨3.22%，美国航空上涨2.01%。 部分投资者赶在美国关键通胀数据发布前以及国际金价涨至六周高位之际获利了结，纽商所黄金期价周二跌超1.2%。截 至收盘，纽约商品交易所明年2月黄金期价收于每盎司4220.8美元，跌幅为1.26%。 内容转自：央视财经 来源：南京日报 2日国际金价下跌 ...

Core Insights - The report presented by Huang Fusheng at the "2026 Postal Financial Forum" highlights China's economic recovery, driven by the "14th Five-Year Plan" focusing on modern industrial systems and high-tech sectors [3][8]. Group 1: Economic Recovery and Industrial Policy - China is building a modern industrial system under the "14th Five-Year Plan," with a focus on high-tech sectors showing significant performance [3][8]. - The plan prioritizes the construction of a modern industrial system and strengthening the real economy, aiming to "recreate a Chinese high-tech industry" over the next decade [3][8]. - Key strategies include enhancing traditional industries, addressing core technology challenges, and fostering strategic emerging industries like new materials and quantum technology [3][8]. Group 2: Manufacturing Sector Performance - The manufacturing sector exhibits a K-shaped recovery, with high-tech product exports growing faster than the overall export growth rate of 5.3% in the first ten months of 2025 [4][9]. - Profit growth in upstream manufacturing sectors like transportation equipment and non-ferrous metal smelting significantly outpaces that of downstream industries such as furniture and apparel [4][9]. - A-share non-financial companies reported a revenue increase of 0.9% year-on-year in Q3 2025, with net profits rising by 3.29% [4][10]. Group 3: Consumer Wealth and Spending Trends - Recovery of resident wealth is projected to take 3-5 years, with service consumption identified as a future growth area [5][10]. - In 2025, there remains a significant gap in resident wealth compared to the peak in 2021, but optimistic scenarios suggest recovery to previous levels by 2028 [5][10]. - The consumption structure indicates a saturation in goods consumption (15% of GDP) compared to major Western countries, while service consumption in healthcare and education is below global averages, indicating substantial growth potential [5][10].