周二，三大指数收跌，美债收益率飙升令投资者担忧。美股在刚刚过去的8月份表现强劲，道指当月上 涨超3%，标普500指数攀升近2%，以科技股为主的纳斯达克指数月度涨幅达1.6%。这是标普500指数连 续第四个月上涨。 【美股】截至周二收盘，道指跌249.07点，跌幅为0.55%，报45295.81点；纳指跌175.92点，跌幅为 0.82%，报21279.63点；标普500指数跌44.72点，跌幅为0.69%，报6415.54点。英伟达(NVDA.US)收跌 1.95%，CoreWeave(CRWV.US)收跌9.41%。 【欧股】德国DAX30指数跌534.22点，跌幅2.22%，报23488.84点；英国富时100指数跌83.99点，跌幅 0.91%，报9112.35点；法国CAC40指数跌53.65点，跌幅0.70%，报7654.25点；欧洲斯托克50指数跌 78.93点，跌幅1.47%，报5288.15点；西班牙IBEX35指数跌223.00点，跌幅1.49%，报14707.50点；意大 利富时MIB指数跌704.71点，跌幅1.66%，报41705.00点。 【美债】美国10年期基准国债收益率涨3.30 ...

【美股】截至周二收盘，道指跌249.07点，跌幅为0.55%，报45295.81点；纳指跌175.92点，跌幅为 0.82%，报21279.63点；标普500指数跌44.72点，跌幅为0.69%，报6415.54点。英伟达(NVDA.US)收跌 1.95%，CoreWeave(CRWV.US)收跌9.41%。 【欧股】德国DAX30指数跌534.22点，跌幅2.22%，报23488.84点；英国富时100指数跌83.99点，跌幅 0.91%，报9112.35点；法国CAC40指数跌53.65点，跌幅0.70%，报7654.25点；欧洲斯托克50指数跌 78.93点，跌幅1.47%，报5288.15点；西班牙IBEX35指数跌223.00点，跌幅1.49%，报14707.50点；意大 利富时MIB指数跌704.71点，跌幅1.66%，报41705.00点。 智通财经APP获悉，周二，三大指数收跌，美债收益率飙升令投资者担忧。美股在刚刚过去的8月份表 现强劲，道指当月上涨超3%，标普500指数攀升近2%，以科技股为主的纳斯达克指数月度涨幅达 1.6%。这是标普500指数连续第四个月上涨。 【亚太股市】日经225指 ...

台积电表示，已收到美国政府通知，将于12月31日撤销其南京工厂的VEU授权。外汇交易员 (@myfxtrader):#要闻 彭博：美国政府撤销台积电向中国大陆的主要芯片制造基地自由运送必要设备的授权，可能会削弱其在该老一代工厂的生产能力。美国将取消台积电南京工厂的“验证最终用户”（VEU）资格。此前美国撤销三星电子和SK海力士旗下中国工厂的VEU资格，豁免将于约四个月后到期。#行情 台积电美股盘前跳水7%。 https://t.co/hyBr51CfwU ...

罕见警告！桥水基金创始人达利欧（Ray Dalio）称，特朗普正将美国推向1930年代的治理模式，而整个华尔街却因为害怕批评后遭报复而保持沉默。 9月2日，据报道，对冲基金亿万富翁达利欧表示，当前政治和社会形势与1930-40年代全球局势相似，而华尔街投资者因担心遭到报复而对总统政策保持沉 默。 达利欧表示，特朗普对私营部门的国家干预，包括获得英特尔10%股份的决定，体现出"强势专制领导力"的特征。他警告称， 这种做法与1930-40年代全球出 现的政治模式类似，源于"控制金融和经济局势的渴望" 。 这位资深投资者还警告美联储独立性面临威胁。达利欧表示， 政治化的央行将"削弱人们对美联储捍卫货币价值的信心"，国际投资者已开始从美债转向黄金 。 在美联储独立性受到威胁的同时，达利欧预测 美国将在三年左右面临债务危机 。他指出巨大财政缺口将迫使大规模发债，而投资者正质疑美债的价值储存功 能。 1930年代政治模式的回归 Dalio将当前美国政治和社会状况与1930-40年代的全球形势进行类比。他指出， "财富差距"、"价值观差距"以及信任崩塌正推动美国采取"更极端"的政策 。 特朗普政府对私营部门的国家干预成为达 ...

当前资本市场正经历前所未有的变革与挑战，如何借助专业投研力量优化资产配置，成为投资者迫切关注的 核心命题。与此同时，中国公募基金行业正经历从规模扩张向高质量发展的深刻生态变革，基金经理队伍的 迭代更新与投研体系的深度重塑，为市场注入全新活力。 在行业变革与市场波动交织之际，券商中国推出《基金经理周周看》栏目，以"拨云穿雾"的专业视角锚定产 业趋势研判。栏目将通过深度对话优秀基金经理群体，系统解构其投资框架的底层逻辑与市场前瞻思维，构 建连接产业变革与资产配置的专业桥梁，为投资者提供兼具行业深度与市场时效性的价值参考。 本期《基金经理周周看》栏目中，诺安基金权益事业部副总经理、研究部总经理邓心怡表示，科技股估值抬升 后，AI等产业仍有趋势，且AI应用带来的预期差较多，个股布局上将识别和聚焦优质公司。财通基金基金经理 沈犁善于用胜率、赔率、景气度构成的"三好"标准来优选成长股，也时常用消费视角挖掘科技股，他表示看好 AI算力和出海制造。安联基金副总经理、首席投资官郑宇尘以及安联基金研究部总经理、基金经理程彧认为， 这一轮行情的根本动力并非短期资金，而是企业长期竞争力提升、系统性风险缓和与政策托底三大因素共同作 用 ...

Group 1: Political and Social Climate - Ray Dalio compares the current political and social climate in the U.S. to that of the 1930s and 1940s, highlighting issues such as wealth disparity, value gap, and a collapse of trust driving the adoption of more extreme policies [1][2] - The Trump administration's intervention in the private sector, particularly the acquisition of a 10% stake in Intel, is seen as a manifestation of "strong authoritarian leadership" driven by a desire to control financial and economic situations [1][2] Group 2: Wall Street's Response - Despite growing concerns among Wall Street investors regarding Trump's policies, few prominent financial figures have publicly criticized the president due to fears of retaliation [2] - Dalio emphasizes that his statements are merely a description of the causal relationships driving the current situation, reflecting the political pressure faced by the financial community [2] Group 3: Federal Reserve Independence - Dalio expresses concerns over the independence of the Federal Reserve, particularly following Trump's dismissal of a Fed governor, which he believes could undermine confidence in the Fed's ability to protect the value of the currency [3] - The political pressure on the Fed may lead to a loss of attractiveness for dollar-denominated debt assets, prompting international investors to shift towards gold [3] Group 4: Debt Crisis Prediction - Dalio predicts that the U.S. will face a debt crisis in approximately three years, driven by a significant fiscal imbalance where annual expenditures of about $7 trillion exceed revenues of $5 trillion [5] - The growing skepticism among investors regarding the reliability of U.S. debt as a store of value is highlighted, with Dalio stating that debt demand is unlikely to keep pace with supply [5] - The Federal Reserve faces a difficult choice between allowing interest rates to rise, risking a debt default crisis, or printing money to purchase unwanted debt, both of which could damage the dollar [5]

Group 1 - Ray Dalio compares the current political and social climate in the U.S. to the global situation of the 1930s and 1940s, highlighting issues such as wealth disparity and a collapse of trust driving extreme policies [1][2] - Dalio emphasizes that Wall Street investors are largely silent about Trump's policies due to fear of retaliation, despite growing private concerns [2][3] - The intervention of the Trump administration in the private sector, particularly the acquisition of a 10% stake in Intel, is seen as a manifestation of "strong authoritarian leadership" [1][2] Group 2 - Concerns about the independence of the Federal Reserve are raised, particularly following Trump's dismissal of a Fed official, which could undermine confidence in the Fed's ability to maintain currency value [3][4] - International investors are reportedly shifting from U.S. Treasury bonds to gold, reflecting worries about the stability of the dollar system [3][4] - Dalio predicts a debt crisis in the U.S. within approximately three years, driven by a significant fiscal imbalance where annual spending is around $7 trillion against $5 trillion in revenue [4]

Group 1 - The 80th anniversary of the victory in the Chinese People's Anti-Japanese War and the World Anti-Fascist War will be commemorated on September 3 in Beijing, with a significant speech by President Xi Jinping [1][2][3] Group 2 - The U.S. government has been ruled to have acted unlawfully in imposing tariffs under the International Emergency Economic Powers Act, which poses a significant setback to Trump's aggressive trade policies [4][5][6] - The ruling maintains that tariffs are a core power of Congress, and the president does not have the authority to impose tariffs through executive orders without congressional approval [5][6] - The decision is set to take effect after October 14, allowing the Trump administration to appeal to the Supreme Court [6] Group 3 - U.S. Treasury and State Department officials have warned that the ruling could lead to "devastating" consequences for international trade negotiations and U.S. economic standing [7][8] - The ruling may also impact ongoing trade negotiations with various countries, as it raises questions about the legality of previously established trade agreements [8] Group 4 - Japan's manufacturing sector continues to shrink, with the August PMI at 49.7, indicating ongoing contraction due to declining overseas orders and investment cuts [11][12] - Japanese manufacturers' pre-tax profits fell by 11.5% year-on-year, primarily due to the impact of U.S. tariffs on the automotive sector [13] - Concerns are growing that the focus on a $550 billion investment mechanism in the U.S.-Japan trade agreement may lead Japanese companies to prioritize investments in the U.S. over domestic development [14] Group 5 - The U.S. has revoked the fast-track compliance status for South Korean chip manufacturers, which will require them to obtain licenses for certain U.S. chip manufacturing equipment exports to China [34][35] - This decision is part of the ongoing tech competition between the U.S. and China, despite a temporary easing of trade tensions [35] Group 6 - India's Prime Minister Modi's visit to Japan highlights the growing semiconductor cooperation between the two nations, aiming to reduce reliance on imports and enhance manufacturing capabilities [37][40] - The collaboration is expected to strengthen India's position in the global semiconductor supply chain while leveraging Japan's advanced technology [40] Group 7 - Tesla's sales in Europe have continued to decline, with significant drops in new car registrations reported in France, Sweden, and Denmark, attributed to increased competition and a lack of new models [60][61][66] - The brand's loyalty is reportedly declining due to CEO Elon Musk's political affiliations, which have alienated some consumers [67][69] - The used car market for Tesla vehicles has seen a surge in sales, negatively impacting new car sales and brand perception [71][70]

Group 1: Technology Developments - Baidu's response to user complaints about the hidden ad close button in its map app, stating that a visible close button is available and user experience is a priority [2] - Tencent's Hunyuan-MT-7B translation model wins first place in 30 languages at the WMT2025 competition, supporting translation across 33 languages [4] - Tesla's CEO Elon Musk emphasizes the potential of the Optimus robot, predicting it will contribute 80% of Tesla's future value [6] Group 2: Market Trends and Regulations - The implementation of the new national standard for electric bicycles in Beijing, with a meeting held for 10 major companies to ensure smooth transition [7] - TSMC plans to increase prices for high-end process technology by 5%-10% in 2026 to offset cost pressures, while also advancing the construction of a new 1.4nm facility [8] - The global wafer foundry revenue reached a record high of $41.7 billion in Q2 2025, with TSMC maintaining a 70.2% market share [9] Group 3: Corporate Actions and Investments - G42, an AI company in the UAE, seeks to diversify its chip supply sources beyond Nvidia, negotiating with major tech firms [5] - JD Group announces a voluntary public acquisition offer for European consumer electronics retailer CECONOMY at €4.6 per share [13] - China Fusion Energy Company increases its registered capital from approximately 3.531 billion RMB to 15 billion RMB, introducing new shareholders [14] Group 4: Innovations and Product Launches - Chengdu Huamei announces the launch of a 4-channel 12-bit 40G high-precision RF direct sampling ADC chip, achieving international leading standards [10] - Baidu launches an AI learning tool for the new school season, providing personalized services and covering approximately 9,600 knowledge points [16] - Yushu Technology reveals a patent for robot motion control based on digital twins, aimed at enhancing stage performance capabilities [17]

焦煤焦炭产业日报 2025/9/1 | 项目类别 | 数据指标 最新 环比 | | | 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | --- | | | JM主力合约收盘价（日，元/吨） 1118.50 | | -32.50↓ | J主力合约收盘价（日，元/吨） | 1594.50 | -48.50↓ | | 期货市场 | JM期货合约持仓量（日，手） 920229.00 | | +10170.00↑ | J期货合约持仓量（日，手） | 52306.00 | +3566.00↑ | | | 焦煤前20名合约净持仓（日，手） -135349.00 | | -1871.00↓ | 焦炭前20名合约净持仓（日，手） | -5127.00 | +167.00↑ | | | JM5-1月合约价差（日，元/吨） 49.00 | | +7.00↑ | J5-1月合约价差（日，元/吨） | 96.50 | +6.00↑ | | | 焦煤仓单（日，张） 300.00 | | +300.00↑ | 焦炭仓单（日，张） | 970.00 | +60.00↑ | | | ...