（原标题：纳斯达克100指数ETF今日合计成交额52.08亿元，环比增加36.34%） 从市场表现看，截至收盘，跟踪纳斯达克100指数的相关ETF今日平均上涨0.50%，其中，涨幅居前的有 汇添富纳斯达克100ETF（159660）、国泰纳斯达克100(QDII-ETF)（513100）等，今日分别上涨 2.12%、0.72%。今日跌幅居前的有广发纳指100ETF（159941），下跌0.07%。（数据宝） 纳斯达克100指数ETF9月30日成交额变动 | 基金代码 | 基金简称 | 今日涨跌幅 | 今日成交额 | 较上一交易日 | 环比增幅 | | --- | --- | --- | --- | --- | --- | | | | | | 增加 | | | 159941 | 广发纳指100ETF | -0.07% | 13.72亿元 | 4.60亿元 | 50.38% | | 159660 | 汇添富纳斯达克100ETF | 2.12% | 2.22亿元 | 1.57亿元 | 241.54% | | 513390 | 博时纳斯达克100ETF | 0.71% | 5.49亿元 | 1.38亿元 | 33.6 ...

来源：市场投研资讯 （来源：博时基金） 一、美国宏观经济数据 降息预期方面，点阵图19个票委中有9人预计年内再降息1次甚至更少，9人预计再降息2次，米兰预期再 降息5次，这个异常的预期拉低了平均数，除去异常值预计还有1-2次降息，与当前的期货市场的降息预 期基本匹配。 开启降息后的4季度美国增长可能仍然得到支撑，AI产业投资持续强劲，财政支出在10月新财年后可以 重新启动，等待降息催化的传统需求如制造业PMI和房地产也可能受货币宽松影响很快传导到需求，美 国经济可能仍具韧性。 美国8月零售销售环比意外回升。美国8月零售销售环比上升0.6%，与前值持平，高于预期值0.2%；零 售销售（除汽车）环比上升0.7%，高于预期值0.4%和前值0.4%；零售销售（除汽车与汽油）环比上升 0.7%，高于前值0.4%和前值0.3%。 美国8月新屋开工大幅逊于预期。美国8月新屋开工环比下降8.5%，不及预期值-4.4%和前值3.4%；8月 新屋开工130.7万户，低于预期值136.5万户和前值142.9万户。 美国8月营建许可不及预期，环比跌幅扩大。美国8月营建许可环比下降3.7%，低于预期值0.6%和前 值-2.2%。8月营 ...

宏观经济方面，美国消费者通胀继续上涨，核心通胀增速符合预期。美国8月CPI同比上涨2.9%，高于 前值2.7%，符合预期；核心CPI同比上涨3.1%，持平前值、符合预期；CPI环比上涨0.4%，高于前值 0.2%和预期0.3%；核心CPI环比上涨0.3%，持平前值、符合预期。 美国PPI增速回落。美国8月PPI同比上涨2.6%，不及预期值3.3%和前值3.1%；PPI环比增速录得-0.1%， 低于预期值0.3%和前值0.7%；核心PPI同比2.8%，低于预期值3.5%和前值3.4%；核心PPI环比增速录 得-0.1%，不及预期值0.3%和前值0.7%。 美国消费者信心继续萎靡，长期通胀预期升温。美国9月密歇根大学消费者信心指数录得55.4，低于预 期值58和前值58.2。美国9月密歇根大学调查居民对未来1年的通胀预期录得4.8%，持平预期和前值；5 年通胀预期录得3.9%，高于预期值3.4%和前值3.5%。 主要指数相关情况 一周指数表现 上周（9月8日-12日），标普油气指数整周上涨0.33%，纳斯达克100指数整周上涨1.86%，标普500指数 整周上涨1.59%，其覆盖的11个行业板块有10个上涨，其中 ...

Macroeconomic Overview - In August 2025, the U.S. non-farm payrolls added only 22,000 jobs, significantly below the expected 75,000, with the previous month's figure revised up to 79,000 [1] - The labor force participation rate increased by 0.1 percentage points to 62.3%, while the unemployment rate remained steady at 4.3% [1] - Hourly wage growth slowed to 3.7% year-on-year, with a month-on-month increase of 0.3% [1] - The U.S. manufacturing and services sectors continue to show divergent trends, with manufacturing contracting and services expanding [1] - The ISM manufacturing index for August recorded 48.7, below the expected 49, while the ISM non-manufacturing index was at 52, exceeding both expectations and the previous value [1] - The ADP employment data for August showed a significant decline, with only 54,000 jobs added, falling short of the expected 68,000 and the previous 104,000 [1] Index Performance - For the week of September 1-5, the S&P Oil & Gas Index fell by 2.51%, while the Nasdaq 100 Index rose by 1.01% and the S&P 500 Index increased by 0.33% [2][3] - Among the 11 sectors covered by the S&P 500, five sectors saw gains, with communication equipment leading at 5.07%, while energy was the worst performer, declining by 3.52% [2][3] Investment Direction - The disappointing non-farm payroll data has led to increased expectations for interest rate cuts, resulting in a surge in gold prices and volatility in U.S. equities [4] - Market expectations for rate cuts have significantly risen, with projections indicating a potential cut starting in September [4] - The upcoming U.S. PPI and CPI data will be closely monitored as inflationary pressures remain concentrated in the fourth quarter [4] - The Bosera S&P 500 ETF (513500) is highlighted as a cost-effective investment tool for domestic investors to capture U.S. equity growth [4] - The S&P 500 Index is recognized as a benchmark for U.S. equities, covering over 500 representative companies across 11 sectors, accounting for approximately 80% of the total market capitalization [4] Nasdaq 100 ETF - The Bosera Nasdaq 100 ETF (513390) tracks the Nasdaq 100 Index, with a significant allocation of 57.87% in the information technology sector [5] - The index includes high-quality technology companies, providing exposure to various sectors such as consumer services, consumer goods, and healthcare [5]

Macroeconomic Summary - The US July PCE increased by 2.6% year-on-year, consistent with expectations and previous values, while the month-on-month increase was 0.2%, lower than the previous 0.3% [1] - The core PCE for July rose by 2.9% year-on-year, matching expectations and slightly higher than the previous 2.8%, with a month-on-month increase of 0.3% [1] - Durable goods orders in July fell by 2.8% month-on-month, better than the expected decline of 3.8% and previous decline of 9.4%, while core durable goods orders excluding transportation rose by 1.1%, exceeding expectations of 0.2% [1] - New home sales in July decreased by 0.6% month-on-month, falling short of the expected 0.5% increase and previous 4.1% increase, totaling 652,000 units, which was better than the expected 630,000 units but lower than the previous 656,000 units [1] Index Performance - The S&P Oil & Gas Index rose by 3.37% over the week, while the Nasdaq 100 Index fell by 0.35% and the S&P 500 Index decreased by 0.10% [2][3] - Among the 11 sectors of the S&P 500, 3 sectors saw gains, with Energy leading at 2.46% and Utilities lagging at -2.10% [2][3] Investment Direction - The Q2 GDP revision in the US showed stronger-than-expected growth driven by business investment, leading to expectations of interest rate cuts by the Federal Reserve, which could catalyze a recovery trade [4] - Market expectations for rate cuts have slightly increased, with a probability of 86.6% for cuts starting in September [4] - The BoShi S&P 500 ETF (513500) is highlighted as a tool for domestic investors to capture growth in the US stock market, tracking the S&P 500 Index which covers over 500 representative companies [4]

Macroeconomic Overview - In July, US inflation did not exceed expectations, with the CPI year-on-year at 2.7%, unchanged from the previous value and slightly below the expected 2.8%. The core CPI year-on-year rose to 3.1%, up from 2.9% and above the expected 3% [1] - The PPI data for July showed a significant increase, with a year-on-year rise of 3.3%, surpassing the expected 2.2% and the previous value of 2.3%. The core PPI also increased to 3.7%, exceeding both the expected 3% and the previous 2.6% [1] - Retail sales in July maintained resilience, with a month-on-month increase of 0.5%, below the expected 0.6% but revised up from a previous 0.6% [1] Consumer Confidence and Inflation Expectations - The University of Michigan's consumer confidence index for August recorded an initial value of 58.6, lower than the expected 62 and the previous value of 61.7. The one-year inflation expectation index rose to 4.9%, above the expected 4.4% and the previous 4.5% [2] Market Performance - For the week of August 11-15, major indices showed positive performance, with the S&P Oil & Gas Index up 0.92%, the Nasdaq 100 Index up 0.43%, and the S&P 500 Index up 0.93%. Among the 11 sectors covered by the S&P 500, 7 sectors increased, with healthcare leading at 4.62% [3] Investment Direction - US stocks experienced an upward trend, supported by slightly lower July CPI and core CPI, along with PPI exceeding expectations. The earnings per share (EPS) for S&P 500 companies grew by 11% year-on-year, surpassing market expectations by 4%, indicating relative economic stability in Q2 [5] - The market continues to anticipate interest rate cuts, with expectations remaining stable compared to the previous week. The geopolitical situation has shown signs of easing, which may enhance market risk appetite [5]

Macroeconomic Overview - In July, US service sector activity unexpectedly cooled, with tariffs showing their impact, while prices accelerated and employment continued to shrink [1] - The ISM non-manufacturing index for July recorded 50.1%, below the expected 51.5% and the previous value of 50.8% [1] - The import index fell to 45.9%, down 5.8 percentage points from the previous value, becoming the largest drag on the index [1] - Factors contributing to the decline in imports include a stabilization of prior import demand and rising costs due to tariffs, leading companies to reduce imports to cut costs [1] - Price increases are accelerating, raising concerns about stagflation as employment continues to contract [1] Index Performance - For the week of August 4-8, the S&P Oil & Gas Index fell by 0.55%, while the Nasdaq 100 Index rose by 3.73% and the S&P 500 Index increased by 2.43% [2] - Among the 11 sectors covered by the S&P 500, 8 sectors saw gains, with Information Technology leading at 4.27% and Energy lagging at -0.98% [2] Investment Direction - US stocks rebounded last week, with the July ISM PMI falling short of expectations, fueling ongoing interest rate cut expectations following significant employment data shocks [3] - Approximately 90% of S&P 500 companies have reported Q2 earnings, with 76% exceeding market expectations, compared to 73% in Q1, indicating relative economic stability in Q2 [3] - Market expectations for rate cuts have risen, with CME data showing an increase compared to the previous week, as the market anticipates cuts starting in September [3] - Concerns about recession have emerged following significant downward revisions to July non-farm data, while tariff uncertainties may lead to market volatility [3] - The Bosera S&P 500 ETF (513500) is highlighted as a cost-effective investment tool for domestic investors to capture US stock growth [3]

Core Insights - The total trading volume of Nasdaq 100 Index ETFs reached 2.951 billion yuan today, an increase of 787 million yuan from the previous trading day, representing a growth rate of 36.35% [1] Trading Volume Summary - The trading volume of GF Nasdaq 100 ETF (159941) was 833 million yuan, up 267 million yuan from the previous day, with a growth rate of 47.23% [1] - The trading volume of Huaxia Nasdaq 100 ETF (QDII) (513300) was 588 million yuan, an increase of 174 million yuan, with a growth rate of 41.93% [1] - The trading volume of Guotai Nasdaq 100 (QDII-ETF) (513100) was 654 million yuan, up 166 million yuan, with a growth rate of 33.96% [1] - Notable increases in trading volume were observed in Huatai-PineBridge Nasdaq 100 ETF (159660) and Bosera Nasdaq 100 ETF (513390), with increases of 83.61% and 69.49% respectively [1] Market Performance Summary - As of market close, the average increase for ETFs tracking the Nasdaq 100 Index was 1.03%, with GF Nasdaq 100 ETF (159941) and Bosera Nasdaq 100 ETF (513390) leading the gains at 1.26% and 1.10% respectively [1]

Group 1: Market Performance - As of August 6, the average net value of equity funds in the market increased by 5.88% over the past month, with actively managed equity funds showing an average increase of 7.27% [1] - A total of 4426 products reported positive returns, representing a high proportion of 97.55% [1] - The A-share market experienced weak fluctuations on August 8, with the Shanghai Composite Index down by 0.12% to 3635.13 points, the Shenzhen Component Index down by 0.26% to 11128.67 points, and the ChiNext Index down by 0.38% to 2333.96 points [1] Group 2: Fund News - On August 8, eight new funds were launched, primarily mixed funds and ETF-linked funds, with the Xin Yuan CSI 800 Free Cash Flow Index A aiming to raise 5 billion yuan [2] - A total of 27 funds announced dividends, with the highest dividend payout being 6.00 yuan per 10 fund shares from the ICBC Credit Suisse Clean Energy Infrastructure Securities Investment Fund [2] - QDII funds have recently implemented purchase restrictions due to rapid depletion of new QDII quotas and increased volatility in overseas markets [2] Group 3: REITs Performance - The first two data center REITs listed on August 8 reached a 30% limit-up on their first day, bringing the total number of limit-up public REITs to 15, which is 20.55% of all 73 listed REITs [2] - The average return of the 73 REITs since listing is nearly 35%, with 17 of them showing gains exceeding 50% [2] - Despite the strong demand for quality assets, the total market size of REITs is just over 200 billion yuan, indicating a significant supply gap [2] Group 4: Fund Performance - The best-performing fund on August 8 was the Fidelity Hong Kong Stock Selection Mixed A, with a daily growth rate of 5.7523% [3] - In the stock fund category, the top performer was the Harvest Resource Selection Stock A, with a daily growth rate of 1.8215% [4] - The top QDII fund was the E Fund Nikkei 225 ETF, achieving a daily growth rate of 2.1688% [4]

Macroeconomic Overview - The US non-farm payroll data for July showed a significant slowdown, with only 73,000 jobs added, below the expected 104,000, and previous months' data revised down by 258,000 to 19,000 and 14,000 respectively, indicating a cooling labor market since April [1] - The labor force participation rate unexpectedly declined by 0.1 percentage points to 62.2%, while the unemployment rate rose by 0.1 percentage points to 4.2% [1] - Hourly wage growth increased by 0.1 percentage points year-on-year to 3.9%, and month-on-month growth also rose by 0.1 percentage points to 0.3% [1] - The US GDP growth for Q2 exceeded expectations, with a significant increase to 3% from a contraction of 0.5% in Q1, driven by net exports contributing 5 percentage points to GDP [1] - The core PCE price index for June rose by 2.58% year-on-year, while the core PCE increased by 2.79%, slightly below the market expectation of 2.85% [1] - The ISM manufacturing PMI for July fell to 48, below the expected 49.5, with the employment index dropping further to 43.4 [1] Index Performance - The S&P Oil & Gas Index fell by 3.40%, the Nasdaq 100 Index decreased by 2.19%, and the S&P 500 Index dropped by 2.36% during the week of July 28 to August 1 [2][3] - Among the 11 sectors covered by the S&P 500, only two sectors saw gains, with Utilities leading at 1.52% and Materials lagging with a decline of 5.40% [2][3] Investment Direction - The US stock market experienced a pullback, with the Federal Reserve's July FOMC indicating a wait-and-see approach regarding the inflation effects of tariffs, while the July employment data fell short of expectations, raising recession concerns and increasing the likelihood of rate cuts in September [4] - Approximately 78% of S&P 500 companies that reported Q2 earnings exceeded market expectations, compared to 73% in Q1, suggesting relative economic stability in Q2 [4] - Market expectations for rate cuts have significantly increased, with an 83.6% probability of a rate cut starting in September [4] - The BoShi S&P 500 ETF (513500) is highlighted as a cost-effective investment tool for domestic investors to capture growth in the US stock market [4]