Market Overview - US stocks are experiencing a positive reaction following the Federal Reserve's first interest rate cut of the year, with major indexes reaching all-time highs. The S&P 500 is up 0.72%, the Dow is up 0.67%, and the Nasdaq has increased by 1.49% this week [1][2]. Federal Reserve Actions - The Federal Reserve's recent 25-basis point cut was the first since December of the previous year, with only one dissenting vote for a larger cut. Fed Chair Jerome Powell described this as a "risk management cut" in response to labor market softness, indicating potential for two more cuts this year [2][3]. Historical Context - Historically, the S&P 500 tends to rally after rate cuts following a long pause, with an average gain of about 15% over 12 months based on data since 1976. The current easing cycle began after the last rate hike in July 2023 [4]. Small-Cap Performance - Small-cap stocks are showing strong performance, with the Russell 2000 index recently hitting a new all-time high after a period of stagnation since November 2021. The forward P/E ratio of small-caps is at its lowest relative to large-caps since 1999, indicating potential for further growth [5][6]. Stocks to Watch - Credo Technology Group (CRDO) has seen a significant increase in its stock price, surging over 150% in 2025, and recently reported fiscal first-quarter earnings of 52 cents per share, exceeding estimates by 48.6% [8][9]. - IonQ (IONQ), a quantum computing company, has also experienced stock growth after acquiring Oxford Ionics, with expected revenue growth of 115% to $92.7 million this year, despite operating at a net loss [12][13]. Market Sentiment - The current market trend remains strong, with bullish sentiment not yet reaching cautionary levels, suggesting potential for further upside. Many individual stocks are outperforming, indicating a healthy market environment [15].

据FactSet数据，Credo营收和利润均大幅超出华尔街预期。其调整后每股收益为52美分，远高于分析师预测的36美 分；营收达到2.231亿美元，同比增长高达274%，同样超过了1.906亿美元的普遍预期。 作为人工智能基础设施的关键一环，数据中心互联解决方案领导者Credo交出了一份亮眼的成绩单，再次印证了AI 领域投资的持续高热。 当地时间9月3日周三，Credo发布远超预期的2026财年第一季度业绩，营收同比激增274%至2.231亿美元，调整后 每股收益0.52美元大幅超越市场预期。 受亮眼财报及强劲指引推动，公司股价在盘后交易中一度大涨近13%。今年以来，Credo股价表现突出，年内已累 计上涨约85%，远超纳斯达克综合指数同期11%的涨幅。 业绩全面超预期：营收飙升274% 根据研究公司650 Group的数据，截至上个报告季度，Credo在AEC市场占据了73%的份额。随着市场转向更高 GPU密度的机架式服务器，如英伟达的GB200 NVL72，对连接大型AI服务器集群所需的AEC需求将大幅增加。 Credo的解决方案得到了众多行业巨头的青睐。据Needham的数据，亚马逊、微软以及埃隆·马斯 ...