Market Performance - On August 21, US stock indices closed lower, with the Dow Jones, Nasdaq, and S&P 500 down by 0.34%, 0.34%, and 0.4% respectively, marking the S&P 500's fifth consecutive day of decline [2][3] - The Nasdaq Golden Dragon China Index rose by 1.35%, with notable gains in Chinese stocks such as Xpeng up over 11% and NIO up over 9% [1][5] European Market - European stock indices showed mixed results, with the UK FTSE 100 and German DAX indices slightly up, while the French CAC40 index closed down [1][7] Labor Market Data - The US Department of Labor reported that initial jobless claims rose to 235,000, the largest increase in nearly three months, exceeding expectations of 225,000 [2] Technology Sector - Major US tech stocks generally declined, with the Wind US Tech Giants Index down 0.43%, while Google-C saw a slight increase of 0.21% [4] Banking Sector - US bank stocks fell across the board, with JPMorgan down 0.28% and Goldman Sachs down 0.68% [4] US-EU Trade Agreement - The US and EU announced a joint statement on August 21, indicating an agreement on a trade deal framework covering various sectors including agriculture, automobiles, and semiconductors [1][11] - The framework includes 19 key points, with the EU agreeing to eliminate tariffs on all US industrial products and provide preferential market access for certain US agricultural products [12][13] Future Trade Relations - The EU is expected to purchase US energy products worth $750 billion by 2028 and commit to buying at least $400 billion in US AI chips for data center construction [15] - The EU will continue discussions with the US to negotiate further tariff reductions and explore additional areas of cooperation [17]

Market Overview - US stock indices collectively declined due to investor concerns over potential hawkish comments from Federal Reserve Chairman Jerome Powell, which could lead to market volatility [1] - The probability of a rate cut in September is around 80%, but this expectation is facing challenges as investors reassess risks and choose to take profits [1] - Data from LSEG indicates that traders' bets on a 25 basis point rate cut have dropped from 99.9% to 79% [1] - The S&P 500 index saw declines across 9 of its 11 sectors, with consumer staples leading the drop at 1.18% [3] Company Performance - Walmart's stock fell 4.5% after reporting Q2 revenue of $177.4 billion, exceeding analyst expectations of $176.16 billion, but adjusted EPS of $0.68 fell short of the expected $0.74, marking the first miss in three years [4] - Major tech stocks continued to decline, with Tesla down 1.17%, Meta down 1.15%, and Amazon down 0.83% [4] - Coty experienced a significant drop of 21.4% due to anticipated sales declines attributed to weak demand in the US market [5] Sector Dynamics - Recent data showed a rebound in US business activity for August and an unexpected month-over-month increase in July home sales, contributing to rising US Treasury yields and further pressure on the stock market [2] - The technology sector has faced a sell-off, raising concerns over inflated valuations since April and increasing regulatory scrutiny from the US government [2] Notable Developments - Apple raised the monthly subscription price for Apple TV+ by 30% to $13 as part of its strategy to expand service revenue, with the annual plan remaining at $99 [9] - Anthropic is in talks to raise up to $10 billion in new funding, which would be one of the largest funding rounds for an AI startup to date, with strong investor demand driving the increase from an initial target of $5 billion [8]

美股周四普遍下挫，标普500指数连续第五个交易日下跌，投资者在美联储主席鲍威尔周五的讲话前保持谨慎，市场交投气氛趋于观望。市场普遍期待鲍 威尔在杰克逊霍尔经济年会上释放有关利率政策的信号，这可能成为未来数周市场走势的关键转折点。 标普500指数下跌0.4%，收于6370.17点；纳斯达克综合指数下跌0.34%，收报21100.31点；道琼斯工业平均指数下跌152.81点，跌幅0.34%，收在44785.50 点。三大股指均录得明显回落，延续本周以来的弱势表现。 然而，7月联邦公开市场委员会（FOMC）会议纪要显示，大多数决策官员依然担忧通胀和劳动力市场的状态，并认为"现在降息仍然过早"。值得注意的 是，美联储理事克里斯托弗·沃勒（Christopher Waller）与米歇尔·鲍曼（Michelle Bowman）反对维持利率不变。这是自1993年以来首次出现两位现任理事 在利率决策上持反对意见，显示联储内部的分歧正在加深。 市场人士普遍认为，鲍威尔的讲话若偏向鸽派，确认9月可能启动降息，将缓解市场担忧并带来提振；但若他保持谨慎甚至偏鹰派，则可能引发新一轮抛 售。 "当前股票估值已经非常高，而投资者对鲍威尔在 ...

每经编辑｜金冥羽 当地时间8月21日，美股三大指数延续弱势。截至发稿，道琼斯指数跌0.17%，标普500指数跌0.2%，纳斯达克综合指数跌0.2%。 大型科技股跌多涨少，截至发稿，苹果跌0.21%，特斯拉跌0.55%，亚马逊跌0.84%，脸书跌1.07%，英伟达跌0.11%，微软涨0.35%，谷歌涨0.27%。 | IF | 现价 | 涨跌幅▼ | | --- | --- | --- | | 微软(MICROSOFT) | 506.660 | 0.35% | | US MSFT | | | | 谷歌(ALPHABET)-A | 199.860 | 0.27% | | US GOOGL | | | | 英伟达(NVIDIA) | 175.200 | -0.11% | | US NVDA | | | | 苹果(APPLE) | 225.540 | -0.21% | | US AAPL | | | | 特斯拉(TESLA) | 322.128 | -0.55% | | US TSLA | | | | 亚马逊(AMAZON) | 221.920 | -0.84% | | US AMZN | | | | 脸书(META ...

? 根据 2025 年 8 月 21 日询价申购情况，初步确定的本次询价转让价格为 一、本次询价转让初步定价 （一）经向机构投资者询价后，初步确定的转让价格为 90.32 元/股。 （二）本次询价转让收到有效报价单共 12 份，涵盖基金管理公司、合格境外投 资者、证券公司、私募基金管理人等专业机构投资者。 参与本次询价转让报价的机构投资者合计有效认购股份数量为 1,142,000 股， 对应的有效认购倍数为 1.16 倍。 证券代码：301413 证券简称：安培龙 公告编号：2025-061 深圳安培龙科技股份有限公司 （三）本次询价转让拟转让股份已获全额认购，初步确定受让方为 10 名机构投 资者，拟受让股份总数为 985,000 股。 股东宁波长盈粤富投资有限公司保证向深圳安培龙科技股份有限公司提供的 信息内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、准确 性和完整性依法承担法律责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： （二）本次询价转让不涉及公司控制权变更，不会影响公司治理结构和持续经 营。 特此公告。 深圳安培龙科技股份有限公司董事会 ...

美股二季报成绩单来了！企业盈利增长超预期 多数集中在这两大板块 美股二季度财报季本周接近尾声，已公布的财报数据显示，标普500指数成份股企业营收和利润超预 期，利润同比增长12%，远高于分析师7月给出的5%的增幅预期。包含"衰退"的电话财报会议数量也下 降了84%。细分来看，其中三分之二盈利增长仅来自通信服务和信息技术两个板块，更多行业和企业则 面临艰难情况。 公司新闻 凤凰网财经讯 8月21日，美股三大指数震荡整理，截至发稿，道指跌0.17%，纳指涨0.04%，标普500指 数跌0.06%。 中概股方面，小鹏汽车涨超10%，蔚来、名创优品涨超8%，拼多多涨超3%；哔哩哔哩跌超6%，迅雷跌 超3%，金山云、小米（ADR）跌超2%。 全球要闻 7大理事+12位地区联储主席！特朗普真能"一统"美联储？ 越来越多的迹象显示，特朗普对美联储的战争正在"升级"——按照当前的事态发展，特朗普极有希 望"掌控"由七位理事官员组成的美联储理事会，甚至威胁到12位地区联储主席的任免……可以说，特朗 普政府正潜移默化地对美联储进行一场全面的人事"清洗"，其干预手段的残酷程度和创造性——是很少 有美联储观察家能够想象的。 美国科技 ...

今天一波三折，指数还行，个股赚钱效应一般，不少投资者又开始慌了，不过嘉宾一点都不担心，缓和缓和，震荡震荡更健康。 首先：继续看多做多，指数趋势没有改变，成交仍在2万亿以上，平均股价也在新高，还有还有 9・3 阅兵临近的催化，所以问题不大，夯实下3731点，后 市会继续新高； 其次：短期出现震荡，甚至出现一定的回踩，只要趋势没变，这都是上涨途中的正常回踩，我们无需慌张； 再者：我们在应对市场的时候，注意以下三点： 第一，谨慎追高追涨，意思不要追高位的，也不要追着去买直线拉升的； 第二，注意高低切换，最近白酒出现异动，而CPO出现回踩，这就是高低切的迹象，不可能一直涨，涨多的必然会有调整的； 第三，上升趋势类的，要么持有，要么回踩趋势低吸，千万不要被洗下车。这里注意，低吸上升趋势的品种，还没有加速的就耐心点，不要那么担心，有 加速上涨，高位卖出，然后在找下一只就行了，依次轮回就行。 回顾今天市场： 指数冲高回落，沪指涨0.13%续创十年新高，深证成指跌0.06%，创业板指跌0.47%，科创50微红0.09%。两市个股跌多涨少，下跌个股近3000只；两市全 天成交2.42万亿元，较上一日放量成交158亿元，平均股价 ...

Core Viewpoint - The current bullish trend in the A-share market is reminiscent of the 2015 bull market, raising concerns about a potential repeat of the rapid decline that followed that period [5][6][13]. Market Performance - The A-share market has seen a continuous rise, with the index approaching 3800 points and daily trading volumes exceeding 2 trillion yuan [1]. - The interest in the A-share market has increased significantly, even attracting foreign investors, particularly from South Korea, whose holdings in Chinese stocks rose from 19.083 billion yuan at the end of 2024 to 24.475 billion yuan, marking an increase of nearly 30% [2][4]. Comparison with 2015 Bull Market - The 2015 bull market was primarily driven by excess liquidity, with significant contributions from foreign capital and unregulated leverage [7][8]. - In contrast, the current market is supported by domestic government funds and institutional leverage, with foreign capital's role being replaced by more stable domestic sources [9][10]. - The risk management capabilities of the financial system have improved since 2015, with stricter regulations on foreign capital and leverage, reducing the likelihood of a similar crash [12][11]. Market Structure - The current market resembles a structural bull market, similar to early 2021, where only specific sectors, such as technology, are experiencing significant gains while others lag behind [14][15]. - The government is likely to maintain a slow bull market strategy, which may prevent widespread participation from retail investors and lead to a rotation of funds among different sectors [16][15]. Investment Strategy - Investors are advised to either hold onto indices related to the market or strategically position themselves in sectors that have not yet experienced significant gains [17]. - The current phase is viewed as the initial stage of a bull market, with opportunities for those who can recognize market signals and trends [17].

Core Viewpoint - The article presents a generally optimistic outlook for the A-share market in the medium term, while acknowledging that the Hong Kong stock market may underperform in the short term but holds long-term investment value [3][4]. Institutional Consensus - A-share market is expected to benefit from liquidity easing, favorable market sentiment, and supportive policy environment, with a potential shift from a structural bull market to a comprehensive bull market [3]. - The Hong Kong market is seen as having long-term allocation value due to its historically low valuations and continuous inflow of southbound funds, despite short-term challenges [4]. Major Disagreements - There are significant differences in views regarding the bond market and the consumer sector [5]. Asset Assessment Hot Industries - Some institutions believe the bond market faces headwinds due to a bullish stock market, making it difficult to achieve excess returns, while others see potential for allocation opportunities if the stock market experiences volatility [7]. - In the consumer sector, some institutions express concerns over slowing domestic demand and weak durable goods consumption, while others highlight the positive impact of national strategies to expand domestic demand [7]. Common Points - Both A-share and Hong Kong markets see investment value in technology and dividend-paying assets, with a focus on sectors like artificial intelligence and innovative pharmaceuticals [8][11]. - The AI and computing power sectors are viewed as having significant long-term investment opportunities, driven by technological advancements and policy support [12][15]. Divergent Views - In the computing power sector, there are differing opinions on the pace of domestic substitution, with some institutions optimistic about rapid progress while others caution against potential obstacles [16]. - The innovative pharmaceutical sector is seen as having solid long-term prospects despite recent pullbacks, with concerns about external policy impacts [17][18]. Industry-Specific Insights - The robotics industry is viewed neutrally to optimistically, closely tied to AI developments, with varying predictions on the timing of AI applications' explosion in the sector [19][20]. - The non-ferrous metals industry is influenced by policy and industrial demand, with expectations of price and profit increases amid tightening supply and strong demand from the electric vehicle sector [21][22]. - The military industry shows significant development opportunities, supported by increasing defense budgets and technological advancements, although opinions differ on how quickly these benefits will be reflected in stock prices [25][26].

英伟达和Palantir等AI相关公司的股价出现下跌，市值蒸发显著。科技行业的市盈率已达到未来12个月预期收益的30倍，为一年来的最高水平。 麻省理工学院的研究发现，95%的组织在人工智能投资上没有获得回报，这也引发了投资者的担忧。 美联储主席鲍威尔即将在杰克逊霍尔年度研讨会上发表讲话，市场对美联储即将降息的预期升温。 如果鲍威尔的讲话未能满足市场对宽松政策的预期，可能引发市场波动。科技股通常估值较高，对利率变化敏感，因此投资者在此时降低风险敞口。 8月和9月通常是股市季节性低迷的时期，投资者可能在此时调整投资组合，锁定利润或降低风险敞口。Vatee外汇分析师指出，当前科技股估值较高，部分 公司面临盈利压力，股市可能进入更加艰难的阶段。 美国科技股近期连续遭遇抛售，尤其是以人工智能（AI）为主题的股票，市场对这一板块的热情出现降温。 以英伟达和Palantir为代表的高估值科技股，近期表现疲软，投资者对AI主题的投资热情有所减退。Vatee外汇分析认为，AI驱动的涨势过度、投资者情绪谨 慎以及美联储即将发表讲话等因素共同导致了这一局面。 ...