当地时间1月6日，美股三大指数全线走高，道指与标普500指数均刷新历史收盘纪录。截至当日收盘， 道琼斯工业平均指数表现尤为亮眼，大幅上涨0.99%，逼近5万点大关，收报49462.08点。标准普尔500 指数与纳斯达克综合指数分别上涨0.62%和0.65%，报收6944.82点及23547.17点。此外，纽约证券交易 所综合指数亦同步上扬0.62%，最终收于22570.82点。 | Q | 道琼斯工业平均指数 | ↑ 0.99% | | --- | --- | --- | | | 49,462.08 | | | Q | 标准普尔500指数 | ↑ 0.62% | | | 6.944.82 | | | Q | 纳斯达克综合指数 | ↑ 0.65% | | | 23,547.17 | | | Q | 纽约证券交易所综合指数 | ↑ 0.62% | | | 22,570.82 | | 道指、标普均创收盘历史新高谷歌财经 科技板块方面，大型科技股表现分化。亚马逊表现强劲，涨幅超3%；微软与英特尔紧随其后，均有逾 1%的涨幅；Meta也小幅收涨。相比之下，特斯拉领跌，跌幅超过4%；苹果下跌逾1%；英伟达、谷歌 及奈飞则 ...

Group 1: Federal Reserve Policy Signals - Federal Reserve Governor Milan indicated that further economic data trends may support additional rate cuts, suggesting a reduction of over 100 basis points this year [1][2] - Core inflation is nearing the Fed's target, and current policies are restrictive, potentially dragging on the economy [2] - Richmond Fed President Barkin noted that after a cumulative cut of 75 basis points by 2025, rates would enter a neutral range, emphasizing the need to balance employment and inflation [2][3] Group 2: Market Reactions - U.S. stock markets saw significant gains, with the Dow and S&P 500 reaching all-time highs, and semiconductor stocks experiencing substantial increases [1][4] - The Philadelphia Semiconductor Index rose by 2.75%, with notable gains in storage chip stocks, including SanDisk up over 27% and Western Digital up over 16% [4] Group 3: Semiconductor Industry Insights - Samsung and SK Hynix plan to increase server DRAM prices by 60% to 70% in Q1 2026 compared to Q4 2025, driven by AI demand and data center investments [5] - Analysts predict Samsung's Q4 2025 operating profit to reach 16.9 trillion KRW, a 160% year-on-year increase, with some estimates exceeding 20 trillion KRW due to unexpected price rises [5] Group 4: Data Center Cooling Market - Data center cooling stocks fell sharply following comments from NVIDIA's CEO regarding new cooling technologies that do not require water [6]

2026.01. 07 本文字数：1628，阅读时长大约3分钟 作者 | 第一财经 胡弋杰 Alphabet A类与C类股分别下跌0.69%和0.87%。 中概股整体承压，纳斯达克中国金龙指数收跌0.78%。个股中，中驰车福暴涨70.83%，日月光半导体 上涨3.18%，拼多多逆势收涨2.97%；阿里巴巴下跌3.43%，百度跌2.18%，蔚来跌1.65%，京东跌 0.17%，富途控股跌0.39%，腾讯控股ADR小幅回落0.09%。 Argent Capital驻圣路易斯的投资组合经理杰德·埃勒布鲁克表示："我认为大型科技公司将迎来非常 强劲的财报季。我们听到的资本支出预期仍在被上调，这为AI相关股票提供了持续支撑。" 美国股市周二集体收高，道指和标普500指数均创历史收盘新高。芯片股在人工智能（AI）乐观情绪 再度升温的带动下全线走强。与此同时，莫德纳在美国银行上调目标价后大涨，提振医疗保健板块。 与此同时，市场整体对美国突袭委内瑞拉带来的地缘政治风险反应相对克制，投资者注意力重新回到 AI产业链、即将开启的财报季以及本周密集公布的美国就业数据。 截至收盘，标普500指数上涨0.62%，报6944.82点；纳 ...

人民财讯1月7日电，美股三大指数集体收涨，道指、标普500指数均创收盘历史新高，其中，道指涨 0.99%，纳指涨0.65%，标普500指数涨0.62%。大型科技股涨跌不一，亚马逊涨超3%，微软、英特尔涨 逾1%，Meta小幅上涨；特斯拉跌超4%，苹果跌超1%，英伟达、谷歌、奈飞小幅下跌。美股存储概念 股集体大涨创新高，美光科技涨超10%，闪迪涨超27%，西部数据涨超16%，希捷科技涨14%。热门中 概股多数下跌，纳斯达克中国金龙指数跌0.78%。禾赛涨超10%，小马智行涨逾5%，华住涨逾4%； BOSS直聘跌超6%，腾讯音乐跌逾4%，阿里巴巴跌超3%。 转自：证券时报 ...

国泰海通证券发布研报称，从历次科技牛规律看，当前海外算力估值合理，后续上修有空间；国产算力 远期空间大，业绩兑现预期/无风险收益下沉是催化；AI应用估值性价比高，关注互联网与传媒。 估值扩张期规律：拥挤度指标参考意义有限，风险溢价能较好衡量估值边界。 此阶段新技术刚刚爆发，缺乏盈利支撑，产业、政策密集催化带来想象空间，并推动板块估值上涨。从 历史经验看，在此期间： 1)拥挤度指标参考意义有限：此阶段行业拥挤度创新高是常态，指标触及极值后20个交易日内，板块回 调概率较高。但拉长至60-90个交易日来看，行情大概率创新高; 2)风险溢价衡量估值扩张边界：当行业风险溢价(1/市盈率-十年期国债收益率)跌破滚动两年均值下方一 倍标准差时，估值对利好的反应明显减弱，行情陷入震荡等待盈利兑现; 3)高估值区间对流动性变化敏感：当估值处于性价比低位时，流动性紧缩预期易引发调整(如10年4月欧 债危机与央行提准、13年底IPO开闸、21年初美联储退出宽松)；反之，流动性宽松环境下，板块估值性 价比将被动抬升，进一步打开上行空间(如14-15的年增量资金入市，带来游戏估值的进一步抬升)。 盈利驱动期规律：业绩超预期是行情的核 ...

1月7日热门中概股涨跌不一，纳斯达克中国金龙指数（HXC）收跌0.78%。 上涨股当中（按市值从高到低），台积电涨1.61%，拼多多涨2.97%，网易涨0.72%，携程涨1.26%，日 月光半导体涨3.18%，贝壳涨1.58%，联电涨4.50%，中通涨0.60%，华住酒店集团涨4.82%，满帮涨 0.69%，中国新城农村涨3.64%。 | | 美股列表 | | | | --- | --- | --- | --- | | ▲热股榜 中概股 | 科技股 | 知名美股 | 全部美股 | | 热门股 领涨 | 领跌 | 成交额 | 量比 | | 更新时间 | | | 2026-01-07 05:36:24 | | 名称 | | 涨跌幅 ◆ | 涨跌额 ⇒ > | | 中驰车福 10 | | +70.83% | +1.530 | | AZI | | -0.27% 盘后 | | | 利邦厨具 利 | | +17.08% | +0.1005 | | LBGJ | | -7.40% 盘后 | | | 慧荣科技 | | +12.43% | +11.630 | | SIMO | | +1.18% 盘后 | | | 禾塞科技 | ...

Core Viewpoint - Kuaishou's AI product, Keling, has launched significant updates in December, which are expected to drive user growth and increase payment rates. The updates include the first global multi-modal video model Keling O1 and the audio-visual synchronization model Keling 2.6, among others [1] Group 1: Product Updates - Keling AI launched several new versions in December, including Keling O1, the first unified multi-modal video model, and Keling 2.6, which supports audio-visual synchronization [1] - Keling O1 is noted as the world's first video generation model supporting full-modal editing, enhancing workflow efficiency [1] - Keling 2.6's audio-visual synchronization feature is expected to integrate well with various industries such as gaming, advertising, short dramas, and live streaming [1] Group 2: Market Position and Competition - Keling AI's website traffic has significantly increased, surpassing competitors like Minimax, Runway, and Midjourney by the end of December 2025 [1] - Keling 2.6 offers a notable price advantage over Google Veo 3.1 and Sora 2, with high-quality video generation priced at 0.88 RMB to 0.44 RMB per second for different membership tiers [1][2] - Keling 2.6's pricing is competitive with Sora 2, which is priced at approximately 0.1 USD per second [2] Group 3: Financial Performance and Projections - Kuaishou's Keling AI generated over 300 million RMB in revenue in Q3 2025, with an annual revenue forecast of 1.4 billion USD [2] - The One series of end-to-end generative models has positively impacted the company's core business, contributing to a 4%-5% increase in domestic marketing revenue and a 5% increase in e-commerce order volume [2] - Revenue forecasts for Kuaishou have been adjusted downwards for 2025-2027, with expected revenues of 142.2 billion RMB, 155.2 billion RMB, and 169.3 billion RMB respectively [3]

Add to all of these concerns the idea that tariffs could threaten to disrupt things even more, and yet the market has largely ignored these signals. Instead, it's focused on valuing stocks on the hopes that AI will deliver generational returns and that growth will accelerate. To be fair, the real question here isn't whether the market will eventually acknowledge this disconnect in reality, but when.It's here that most of the confusion starts, as many investors look at the S&P 500 and the 16% number and thin ...

2026年将是AI公告撼动市场的又一个关键年份。美银证券前瞻2026年AI关键催化剂：亚马逊或携手OpenAI进军智能商务，谷歌有望与苹果联 手改造Siri，Meta将豪掷千亿美元推出AI视频工具，Uber加速L4自动驾驶布局。Anthropic、OpenAI等明星AI公司IPO在即，其估值溢价或将 推动谷歌等科技巨头估值重估，22倍市盈率凸显投资机会。 在基础设施投资持续攀升的背景下，华尔街目前的焦点已从单纯的"军备竞赛"转向"商业化落地"。 美银在1月5日的报告中表示，2026年将是AI公告撼动市场的又一个关键年份。无论是芯片技术、前沿模型，还是用户数据和分发渠道，其重要 性都在加剧。在基础设施投资持续攀升的背景下，AI能力依然是大盘互联网股的核心资产和估值驱动力。 美银总结了潜在的重磅消息，这些消息可能在2026年改变竞争格局、货币化轨迹，成为投资者情绪的关键催化剂。 基准情景：七大潜在重磅消息或将重塑竞争格局 美银认为以下事件在2026年发生的可能性较高，且直接关系到巨头的护城河与现金流： 1. 亚马逊与OpenAI签署"代理商务"协议（Agentic Commerce） 报告指出，鉴于亚马逊首次对O ...

Core Viewpoint - Morgan Stanley expresses optimism about Kuaishou Technology's stock price, highlighting the significant growth potential driven by its Keling AI's performance in overseas markets [1] Group 1: Keling AI's Overseas Success - Keling AI's popularity surged in early January 2026, with daily revenue increasing by 102% compared to December 2025, driven by a new motion control feature that sparked a "pet dancing" trend on social networks [2] - In South Korea, Keling AI's daily revenue skyrocketed by 1300% compared to December 2025, contributing 6% to its total revenue over the past three months [2] - Keling AI topped download charts in four countries and ranked in the top ten in ten regions, with significant revenue contributions from the US, UK, and South Korea [2] Group 2: Financial Projections and Market Potential - Morgan Stanley predicts Keling AI's revenue will grow by 62% year-on-year to 1.7 billion yuan in 2026, supported by product upgrades and enterprise spending [3] - The global market for AI video generation is projected to reach $140 billion, with Keling AI positioned as a leading model with substantial monetization opportunities [3] Group 3: Kuaishou's Valuation and Growth Drivers - Kuaishou is considered one of the most undervalued AI stocks globally, with a projected P/E ratio of only 12 times for 2026, while profit growth is expected to compound at 21% from 2026 to 2027 [4] - AI technology is expected to drive advertising growth in 2026, with non-e-commerce ads showing strong growth despite challenges in the e-commerce sector [4] Group 4: Profitability and Investment Outlook - Kuaishou's adjusted net profit is forecasted to grow by 20% in 2026, with a net profit margin increase of 1.4 percentage points, exceeding market expectations by 8% [5] - Increased capital expenditure for AI model development and advertising technology upgrades is expected to enhance core competitiveness and drive high-margin advertising growth [5] Group 5: Target Price and Investment Rationale - Morgan Stanley maintains a target price of 89 HKD for Kuaishou, indicating a 22% upside from the current price of 73.60 HKD [6] - Key investment rationales include underutilized monetization in advertising and e-commerce, a shift towards higher-margin revenue streams, and Keling AI's rapid revenue growth as a significant growth engine [6]