具体来看，2025年前11个月，美国雇主累计裁员117.08万人，较2024年同期增长54%。仅11月单月裁员 7.13万人，为2022年以来同期最高，远超疫情前水平。 "滚动式裁员"：温水煮青蛙的威胁 Glassdoor首席经济学家丹尼尔·赵指出，实际裁员规模可能被低估。联邦JOLTS（编者注：职位空缺与 劳动力流动调查）数据显示，同期实际裁员人数约170万。他表示："裁员形态正在变化——过去是一次 性大规模裁员，如今则是频繁的小规模'滚动式裁员'。" 这一现象需结合2025年矛盾的经济信号理解：一方面，人工智能泡沫与就业焦虑并存；另一方面，"可 负担性"政治议题折射出底层工人的不满。企业财报亦揭示出"K型经济"（编者注：高收入与低收入群 体分化加剧的经济结构）特征——最富裕的10%人群贡献近半消费，而低收入者愈发拮据。 摩根士丹利分析师迈克·威尔逊认为，2025年经济先经历"滚动式衰退"，随后自4月起开启"滚动式复 苏"。但高盛与美银分析师指出，当前复苏仅体现在金融层面：股价与利润飙升，白领岗位需求却持续 萎缩。随着"永久裁员潮"愈演愈烈，一个"无就业增长"的时代以及流程优于人力的趋势，正逐渐显现。 20 ...

这份延迟已久的就业报告，为近几个月明显降温的美国劳动力市场提供了新的线索。通胀回升以及关税 政策的不确定性，抑制了企业扩大用工规模的意愿；与此同时，特朗普政府针对移民的政策也减少了劳 动力供给，使得潜在求职者数量下降。这意味着，在劳动力供给受限的情况下，即便就业需求增长不 快，也未必会立刻推高失业率。 美东时间周二，美国劳工统计局公布的数据显示，美国11月季调后非农就业人口录得6.4万人，高于市 场普遍预期的4.5万人。而10月则减少了10.5万个，预期为下降2.5万人。 美国11月失业率升至4.6%，高于市场预期的4.4%，为2021年9月以来新高。 此外，8月份非农新增就业 人数从-0.4万人修正至-2.6万人；9月份非农新增就业人数从11.9万人修正至10.8万人。修正后，8月和9 月新增就业人数合计较修正前低3.3万人。 由于美国政府停摆影响了10月的数据采集，10月数据被纳入本次就业报告中。10月非农就业下降主要源 于政府部门大幅裁员，今年早些时候推迟实施的裁员计划开始生效。10月政府部门岗位减少16.2万，11 月又减少6000个。 在过去数月中，由于官方数据发布受阻，经济学家不得不主要依赖滞后性 ...

↑点击上面图片 加雪球核心交流群 ↑ A股三大指数今日集体回调，截止收盘，沪指跌1.11%，收报3824.81点；深证成指跌1.51%，收报12914.67点；创业板指跌2.10%，收报3071.76点。 沪深两市成交额17242亿，较昨日缩量493亿。 行业板块呈现普跌态势，贵金属、船舶制造、电源设备、风电设备、有色金属、光伏设备、文化传媒、小金属、采掘行业跌幅居前，商业百货板块 逆市走强。 个股方面，上涨股票数量接近1100只，近50只股票涨停。商业百货板块逆市掀涨停潮，永辉超市、欧亚集团、百大集团、中央商场、广百股份、家 家悦、红旗连锁、利群股份涨停。今天亚太市场大幅震荡，让我们一起看看发生了什么？ 01 亚太市场巨震！ 今日亚太市场均现大幅调整，除沪深两市调整外，恒生指数跌1.54%，恒生科技指数跌1.74%。日经225指数收跌1.56%。韩国综指收跌2.24%。 | 『 恒生指数 | 疆 英国富时 | ■ 道琼斯 | | --- | --- | --- | | 25235.41 | 9751.31 | 48416.56 | | -393.47 -1.54% | +102.28 +1.06% | -4 ...

证券日报网讯12月10日，武商集团（000501）在互动平台回答投资者提问时表示，江豚会员店是公司在 新零售模式上的战略探索，目前运营平稳，符合阶段预期。通过实践，公司已在选址、会员权益和本地 化选品等方面积累了经验。未来将持续围绕会员需求，优化模式、精细运营，稳步推进布局。公司对该 模式的长期发展充满信心。 ...

市场普遍预期，美联储将在12月11日宣布降息25个基点。平安证券认为，美元信用弱化及美联储降息有望持续，黄金等贵金属货币属性及金 融属性持续计价，同时弱美元提供工业金属向上驱动。美联储2026年上半年仍处于降息通道内，伴随美联储主席换任，货币政策独立性存 疑。中长期来看美国财政问题持续，美元信用弱化趋势未见拐点；海外主要经济体政治风险抬升，避险属性发酵，仍看高金价中枢。 房地产板块异军突起，万科A（000002.SZ）、南都物业（603506.SH）、华夏幸福（600340.SH）大涨10%，保利发展（600048.SH）涨 5.2%，中国武夷（000797.SZ）上涨。 12月10日，三大指数涨跌不一，上证指数跌0.23%，深证成指涨0.29%，创业板指跌0.02%，科创50下跌0.03%。两市超过2300只股票飘红，两 市成交额也达到了约1.78万亿元。 海南板块走强，成为今天最亮眼的板块。康芝药业（300086.SZ）涨超15%，欣龙控股（000955.SZ）、海马汽车（000572.SZ）涨10%，海南 海药（000566.SZ）、京粮控股（000505.SZ）、海南矿业（601969.SH）大涨。 ...

此举标志着这家世界收入最高的公司、市值约8,000亿美元的企业，完成资本市场平台的重要迁移。沃 尔玛的转板将创下单笔交易所转换的历史最高市值纪录，叠加其转板规模，2025年纳斯达克单年度承接 的转板市值首次突破1万亿美元。 来源：市场资讯 （来源：Nasdaq纳斯达克） 2025年12月9日起，沃尔玛（NYSE: WMT）将正式转板在纳斯达克挂牌交易，股票代码维持"WMT"不 变。 史上最大单笔迁移 沃尔玛此次决策，不仅反映其对交易成本与服务效率的考量，更凸显其与纳斯达克在技术驱动、创新生 态与长期增长叙事上的深层契合。 转板背景：制度宽松与战略协同 自2003年美国证监会（SEC）废除限制交易所竞争的"Rule 500"，特别是2007年允许企业转板时保留原 有股票代码以来，交易所间的制度性壁垒显著降低，转板操作在近二十年来日趋常态化。截至今年年初 已有500家上市公司由纽交所转至纳斯达克，累计转板市值达3万亿美元。 事实上转板企业中包括40家标普500成分股，其中24家在转板后成功纳入纳斯达克100指数。作为全球最 具影响力的科技成长基准之一，该指数为成分股带来显著的被动资金配置。 这一趋势反映出，企业转 ...

Market Overview - The Dow Jones Industrial Average rose by 233.70 points, an increase of 0.49%, closing at 47,708.16 points; the Nasdaq increased by 2.10 points, or 0.01%, to 23,415.77 points; and the S&P 500 gained 9.94 points, a rise of 0.15%, ending at 6,839.31 points [3][8] - Bitcoin continued its recovery after a significant sell-off in recent weeks, trading above $93,000 [5][10] Employment Data - The ADP report indicated an unexpected decrease of 32,000 jobs in the U.S. private sector for November, primarily due to significant layoffs in small businesses, which cut 120,000 jobs [9] - Large enterprises, with 50 or more employees, reported a net increase of 90,000 jobs [9] Industrial Production - U.S. industrial output showed minimal growth in September, with a month-on-month increase of 0.1%, aligning with economists' median forecasts [4][9] - Capacity utilization remained steady at 75.9%, unchanged from August [4] Price Data - September import prices remained flat month-on-month, contrary to economists' expectations of a 0.1% increase [9] - Year-on-year, import prices rose by 0.3%, while export prices increased by 3.8% [9] Company-Specific News - Marvell Technology's stock surged due to positive growth expectations for its data center business [10] - American Eagle Outfitters raised its full-year forecast, citing a strong start to the holiday shopping season [10] Market Sentiment - Traders are optimistic about corporate earnings results and are anticipating the Federal Reserve's interest rate decision on December 10, with an 89% probability of a rate cut expected [6][10] - Historical trends suggest a strong performance for U.S. stocks in December, with recent profit-taking creating buying opportunities for undervalued stocks [5][10]

Core Viewpoint - Gao Xin Retail (06808) experienced a significant stock increase of over 7%, closing at 1.73 HKD with a trading volume of 31.86 million HKD following the announcement of a leadership change [1] Group 1: Leadership Change - Li Weiping has been appointed as the Executive Director and CEO of Gao Xin Retail, effective December 1, 2025, succeeding Shen Hui who resigned due to family reasons [1] - Li Weiping has 26 years of experience in the retail industry and previously held key positions at Hema, including General Manager of North China and CEO of Hema Fresh [1] - The company anticipates that Li Weiping's expertise aligns well with its three-year strategic plan, focusing on product differentiation and supply chain efficiency [1] Group 2: Strategic Focus - The company aims to enhance product differentiation and supply chain efficiency under Li Weiping's leadership [1] - Plans include store adjustments, multi-format layout, and accelerating online business growth as part of the strategic implementation [1]

The final month of the year gets underway on Monday, and investors will be looking for a smoother month to round out the year after choppy November trading saw the Nasdaq Composite (^IXIC) snap a seven-month winning streak while the S&P 500 (^GSPC) moved back to within 1% of a record high. On Friday, markets ended the week by notching a fifth straight session of gains to close out the up-and-down month in a holiday-shortened trading session. And despite snapping its monthly winning streak, the Nasdaq is a ...

Core Viewpoint - The announcement details the leadership transition at Sun Art Retail Group, with Shen Hui resigning as Executive Director and CEO, effective December 1, 2025, and Li Weiping appointed to these roles, marking a strategic shift for the company [1][3]. Group 1: Leadership Changes - Shen Hui will resign from his positions as Executive Director, CEO, and authorized representative due to family reasons, effective December 1, 2025 [3]. - Li Weiping, with 26 years of experience in the retail industry, will take over as Executive Director and CEO, bringing a wealth of knowledge from her previous roles at Hema [4]. Group 2: Contributions and Future Directions - The board acknowledges Shen Hui's contributions to the company's strategic implementation and business upgrades, emphasizing his commitment to retail fundamentals and brand competitiveness [2]. - Li Weiping's appointment is seen as a crucial move in the company's strategic layout, with her experience aligning with the company's vision for transformation [2][4]. - Li Weiping plans to enhance product quality, optimize supplier collaboration, and improve operational efficiency, aiming to meet new customer standards [4]. - The company will focus on agile decision-making, encouraging innovation and a competitive incentive system to energize its workforce [4]. - Sun Art Retail currently operates over 500 stores across 29 provinces and municipalities, with a user base of 100 million on its online platforms [5].