点击图片▲立即购买 中央一号文件继续聚焦三农问题 2月3日，《中共中央 国务院关于锚定农业农村现代化扎实推进乡村全面振兴的意见》向社会公布。这是党的十八大以来，中央连续出台的第14 个指导"三农"工作的一号文件，是又一个以推进乡村全面振兴作为主题的一号文件，也是"十五五"首个中央一号文件。《意见》全文共六个部 分，包括：提升农业综合生产能力和质量效益、实施常态化精准帮扶、积极促进农民稳定增收、因地制宜推进宜居宜业和美乡村建设、强化体制 机制创新。 今年指导"三农"工作的一号文件有不少新的提法，如近10年来首次提出"实施粮食流通提质增效项目"，"机器人"也是近10年来首次进入中央一号 文件，而在脱贫攻坚5年过渡期结束后，中央一号文件也首次提出"常态化精准帮扶"概念。（每经网） ｜点评｜ 中央"一号文件"连续多年聚焦"三农"议题，已成为中国高度重视该领域的标志性符号。从早期的促增产、保增收，到如今的乡村振兴 和建设农业强国，"一号文件"根据国内"三农"情况在不同时期的不同特征，高屋建瓴地提出了前瞻性意见。今年是脱贫攻坚5年过渡期结束，帮 扶工作进入常态化阶段的第一年，《意见》健全帮扶体系，将防止返贫转为长期制度性 ...

芯片供应商高通公司周三预测第二季度营收和利润低于华尔街预期，预计全球内存供应短缺将打击手机 销售。总部位于加利福尼亚州圣迭戈的高通公司发布财报之际，全球电子产品供应链正在努力解决内存 芯片严重短缺的问题，内存芯片是智能手机和数据中心等设备的重要组成部分。财报发布后，高通公司 股价在盘后交易中下跌了 9%。由于华尔街正在考虑市场份额的损失和内存价格暴涨的影响，该公司股 价今年迄今已下跌超过 11%。高通公司首席执行官阿蒙（Cristiano Amon）在接受采访时表示，整个预 测失误的原因是高通公司的智能手机客户遭遇了内存芯片短缺。阿蒙说："我对公司的业务非常满意-- 我只是希望我们能有更多的内存。"阿蒙说："一切基本上都是原始设备制造商，尤其是在中国，降低库 存水平，以适应内存供应。"该公司预计第二季度的营收将在102亿至110亿美元之间，而分析师的平均 预期为111.2亿美元。该公司还预测调整后的本季度每股收益在 2.45 美元至 2.65 美元之间，而预期利润 为 2.89 美元。 来源：滚动播报 ...

Market Overview - The U.S. stock market closed mixed on February 4, with the Dow Jones Industrial Average rising by 260.31 points (0.53%) to 49,501.30, while the Nasdaq Composite fell by 350.61 points (1.51%) to 22,904.58, and the S&P 500 dropped by 35.09 points (0.51%) to 6,882.72 [1] Employment Data - The ADP report indicated that private sector employment in January increased by only 22,000 jobs, significantly below the Dow Jones estimate of 45,000 [4][6] - The report highlighted a "low hiring, low firing" environment, suggesting that the labor market remains nearly stagnant, which may raise concerns for Federal Reserve policymakers regarding the need for more economic support [5][6] Technology Sector Performance - The technology sector faced significant selling pressure, with major companies like AMD experiencing a sharp decline of 17.31%, marking its largest single-day drop since 2017 [10][11] - Other tech stocks such as Nvidia, Oracle, and Broadcom also saw declines, contributing to the overall poor performance of the tech sector, which was the worst-performing sector in the S&P 500, falling over 2% [8][11] Cryptocurrency Market - Bitcoin experienced a 3% drop, briefly falling below the $73,000 level, which further intensified market risk aversion [3] Upcoming Financial Reports - A busy earnings week is underway, with Alphabet set to report on Wednesday and Amazon expected to release its earnings on Thursday, as over 100 S&P 500 companies are scheduled to announce their financial results this week [9]

2月5日，高通盘后跌逾8%，报136.7美元。高通第一财季调整后营收122.5亿美元，分析师预期122亿美元。该公司对当前财 季营收给出平淡的展望，令人担忧存储芯片短缺导致价格上涨可能抑制手机需求。高通预计，第二财季营收达到102亿-110 亿美元，分析师的平均预估为营收112亿美元。剔除部分项目后每股收益料达2.55美元，分析师预计每股收益2.89美元。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 高通称，虽然高端手机仍有需求，但由于存储芯片供应紧张且价格大涨，部分客户的手机产量将低于预期。高通首席执行 官Cristiano Amon正在推动公司转型，增加面向汽车、个人电脑和数据中心的芯片销售，使业务更加多元化，但这些新业务 的规模仍不足以弥补手机芯片市场放缓。Amon在声明中表示："尽管短期内我们的手机芯片业务展望受到全行业存储芯片 供应受限的影响，但我们仍对高端智能手机的需求感到鼓舞。" ...

Core Viewpoint - AMD's stock price plummeted despite reporting better-than-expected Q4 earnings, raising concerns about its ability to compete in the AI chip market against Nvidia and the impact of its revenue guidance for Q1 [4][5][6]. Financial Performance - AMD reported Q4 revenue of $10.3 billion, a 34% year-over-year increase, surpassing the analyst consensus of $9.65 billion [5]. - Adjusted EPS for Q4 was $1.53, exceeding the expected $1.32 by nearly 16% [5]. - The data center business grew 39% year-over-year to $5.38 billion, significantly above the expected $4.97 billion [5]. Market Concerns - Despite strong Q4 results, AMD's Q1 revenue guidance of approximately $9.8 billion fell short of some analysts' expectations, leading to disappointment in the market [4][5]. - Concerns were raised about AMD's ability to compete effectively in the AI chip market, especially without a boost from the Chinese market [3][4][5]. - The stock's high forward P/E ratio of 33.16 indicates that any execution missteps could lead to significant price adjustments [4][6]. Analyst Perspectives - Analysts expressed mixed views, with some noting that AMD's revenue from the Chinese market was unexpected and did not significantly exceed expectations [6]. - AMD's CEO maintained an optimistic outlook, projecting AI revenue to reach hundreds of billions by 2027 and indicating strong demand for data center chips [6][7]. - Some analysts believe the recent stock drop may present a buying opportunity, suggesting that the market's reaction may be overly cautious [8][9]. Future Outlook - AMD's agreements with OpenAI and Oracle reflect growing interest in its MI series AI accelerators, with significant deployments expected in the future [7]. - Analysts have set target prices for AMD stock between $280 and $300, indicating potential upside of 40% to 50% from current levels [9]. - The upcoming launch of the Helios rack-scale solution is anticipated to drive significant growth [9].

2026.02.05 本文字数：1676，阅读时长大约3分钟 作者 |第一财经 樊志菁 周三，受科技股抛售潮加剧影响，纳指标普承压收跌，资金流向工业等板块避险。截至收盘，道指涨 260.31点，涨幅0.53%，报49501.30点，纳指跌1.51%，报22904.58点，标普500指数跌0.51%，报6882.72 点。 | 道琼斯工业平均 纳斯达克 | 标普500 | | --- | --- | | 49501.30 22904.58 | 6882.72 | | +260.31 +0.53% -350.61 -1.51% -35.09 -0.51% | | 明星科技股跌多涨少，苹果涨2.60%，微软涨0.72%，谷歌跌2.16%，亚马逊跌2.36%，Meta跌3.28%。特 斯拉跌3.78%。 软件板块因AI技术发展挑战继续承压，甲骨文跌5.19%。 美股延续周二抛压，投资者对板块高估值存忧，同时质疑华尔街本轮人工智能行情是否已见顶，纷纷撤 离高风险成长股，转向沃尔玛等周期股。科技板块成为当日标普500指数中表现最差的板块。 Certuity首席投资官斯科特・韦尔奇表示："去年年底，市场已开始区分人工智能领 ...

美股科技股突遭猛烈抛售。 隔夜美股市场，科技股全线重挫，纳指盘中一度大跌超2%，芯片股集体大跌，费城半导体指数一度暴跌超6%， AI算力芯片公司AMD暴跌超17%，"存储四巨头"集体大跌，闪迪暴跌超15%，美光科技跌超9%。另外，AI应用股 AppLovin、Palantir均跌超10%。 有分析指出，AMD的财报指引不及分析师的高预期是芯片股大跌的"导火索"。另外，软件板块掀起的抛售持续蔓 延加剧了市场担忧情绪。对此，英伟达公司首席执行官黄仁勋公开表示；"难以理解，软件产品是工具，人工智能 （AI）会使用这些工具，而不是重新发明它们。" 美股盘后，科技巨头谷歌的母公司Alphabet披露的财报显示，公司2026年资本支出将达到惊人的1750亿美元至 1850亿美元，大超市场预期。受财报影响，其股价盘后剧烈波动，截至发稿，跌超1%。 科技股全线重挫 美东时间2月4日，美股开盘后，三大指数明显分化，资金迅速从前期强势的科技板块撤出，纳指跌幅一度扩大至 2.45%，芯片股指数一度大跌超6%，道指则逆势走高，截至收盘，纳指跌1.51%，标普500指数跌0.51%，道指涨 0.53%。 美股大型科技股多数下挫，英伟达 ...

本文字数：1676，阅读时长大约3分钟 作者 | 第一财经 樊志菁 周三，受科技股抛售潮加剧影响，纳指标普承压收跌，资金流向工业等板块避险。截至收盘，道指涨260.31点，涨幅0.53%，报49501.30点，纳指跌 1.51%，报22904.58点，标普500指数跌0.51%，报6882.72点。 明星科技股跌多涨少，苹果涨2.60%，微软涨0.72%，谷歌跌2.16%，亚马逊跌2.36%，Meta跌3.28%。特斯拉跌3.78%。 纳斯达克中国金龙指数跌近2%，网易跌5.4%，百度跌4.77%，阿里巴巴跌2.76%，京东、拼多多跌超1%。 2026.02. 05 阿根特资本的投资组合经理杰德・埃勒布鲁克表示："人工智能基础设施的建设规模史无前例，消费者和企业采用人工智能工具的速度也前所未有。股市 如今难以判断相关个股的合理定价，也无法看清行业未来走势……市场突然对人工智能领域产生了质疑和担忧。" 中长期美债收益率分化，与利率预期关联密切的2年期美债跌1.3个基点至3.558%，基准10年期美债涨0.4个基点至4.277%。 | 名称 | 现价令 > 张跌幅 > > > 涨跌 > | | --- | --- ...

昨夜今晨，美股市场延续风格轮动的态势，在多家科技权重持续回调的压力下，纳指连续第二天跌超1%。标普500指数同样收跌，但其中超7成成分股以涨 势收盘。 截至收盘，标准普尔500指数跌0.51%，报6882.72点；纳斯达克综合指数跌1.51%，报22904.58点；道琼斯工业平均指数涨0.53%，报49501.3点。连续两日下 跌后，纳指也跌破了100日均线。 财报方面，谷歌母公司ALPHABET第四财季营收1,138.3亿美元，同比增长18%，预估1,114亿美元，谷歌云收入176.6亿美元，同比增长48%；经营利润359.3 亿美元，同比增长16%，预估369.5亿美元。公司四季度大模型Gemini月活用户数（MAU）超过7.5亿。公司预计2026年资本开支1750亿~1850亿美元，分析 师预期1195亿美元。 周三市场的关键异动，是光伏板块在"SpaceX团队考察中国光伏产业链"的消息影响下全面上涨。其中微型逆变器制造商Enphase Energy涨38.60%、 SolarEdge涨13.14%，光伏组件龙头晶科能源涨8.66%。 按照市值排名，截至收盘，英伟达跌3.41%、苹果逆势上涨2.6%、谷 ...

Market Performance - The US stock market continued its style rotation, with the Nasdaq Composite Index falling over 1% for the second consecutive day, closing at 22,904.58 points, and breaking below the 100-day moving average [1] - The S&P 500 Index decreased by 0.51% to 6,882.72 points, while the Dow Jones Industrial Average rose by 0.53% to 49,501.3 points [1] S&P 500 Component Stocks - Among the S&P 500 components, 363 stocks closed higher, leading to a 0.9% increase in the equal-weighted S&P 500 index [2] - Notable gainers included Advanced Micro Devices (AMD) down 17.31% after disappointing earnings, and other AI-related stocks like AppLovin and Palantir, which fell over 10% [2] - The "storage giants" also saw significant declines, with SanDisk down 15.95% and Micron Technology down 9.55% [2] Key Company Developments - Nvidia's CEO expressed confusion over the software sector's decline, emphasizing that AI tools are not replacing existing tools [2] - Alphabet announced a staggering capital expenditure forecast of $175 billion to $185 billion for the current fiscal year, significantly higher than the analyst expectation of $119.5 billion [3] - Following Alphabet's announcement, Broadcom, which produces TPUs for Google, saw its stock rise over 5% in after-hours trading [4] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 1.95%, with Alibaba down 2.76% and JD down 1.75% [6] Earnings Reports - Eli Lilly's stock rose 10.33% after a positive earnings report and optimistic sales guidance, solidifying its position in the obesity treatment market [7] - AMD experienced its largest single-day drop since 2017, down 17.31%, due to weak earnings guidance [8] - Qualcomm's disappointing earnings guidance led to an 8% drop in its stock [9] - Arm Holdings' stock fell 10% despite meeting market expectations for the quarter [10] - e.l.f. Beauty's stock surged 15% after significantly exceeding analyst expectations in both earnings and guidance [11]