转自：EarlETF 周五，A 股很惨。万得全 A 下跌 3.17%，万得全 A 等权重指数下跌 3.74%。 连有银行股苦苦支撑的上证指数，都下跌 2.45%，报收 3834.89 点，失守了 3900 点。 从图形来看，万得全 A 是跌破布林线下轨，很难看的走法。 甚至背后的内涵，也有点像。 是的，周五的下跌，不是 A 股的孤立事件，而是一次全球共振。 拉开下跌序幕的，隔夜的美股。纳斯达克 100 从高开 2%+，到收盘跌 2%+，这种高开低走的走势，在 美股是极少见的，无怪乎被称为 "A 股" 化了。 美股为什么走成这个鬼样子？ 让 Gemini 的 Deepresearch 做了一个综述分析。挺有意思。 当日，英伟达发布了一个超分析师预期的财报，本该利好，但英伟达最终以下跌 3.15% 报收。Gemini 3.0 Pro 有一个评价很有趣： 这意味着，市场并非在交易 "共识预期"（Consensus Estimates），而是在交易 "耳语数 字"（Whisper Numbers）—— 即买方机构和对冲基金内部流传的、远高于卖方分析师模型的 非正式预期。当股价在财报前已经累计上涨超过 30% 且市值逼 ...

昨日，全球市值最高的AI巨头英伟达再次交出耀眼成绩单，但随着投资者情绪从兴奋转向谨慎，美股急转直下，呈现出广泛的市场回调。 通信ETF（515880）光模块含量超50%，与海外AI产业联系紧密，今日盘中也随之迎来超4%的大幅回调。资金逢低布局踊跃，连续3日净流入超8亿元，近20 日净流入超37亿元。 此外，今年以来通信ETF（515880）在A股表现领先，截至写稿年内涨幅超81%，居全市场ETF涨幅第一。如今通信ETF（515880）深度回调，还可以低位布 局吗，或者说，还能相信"光"吗？ 在AI持续发展的背景下，光模块有望维持高景气度。通信ETF（515880）规模近130亿元居同类第一，光模块占比达52%，服务器占比达22%，叠加光纤、铜 连接等环节，合计占比达81%（权重占比截至10月28日），感兴趣的投资者可持续关注，逢低分批布局。 还能相信光吗？基本面看，人工智能产业化持续加速中 尽管短期市场存在波动，但从基本面看，人工智能行业空间巨大，海外AI产业化正在持续加速，国内方面，国产GPU放量加速，国产算力持续强势。 近日除英伟达财报消息提振外，谷歌Gemini3消息也持续发酵，实力几乎霸榜。Gemin ...

Group 1 - The report highlights a critical week for the US stock market, focusing on Nvidia's earnings report and non-farm payroll data, with expectations of liquidity improvement and sentiment recovery [3][13][20] - The A-share market is expected to experience fluctuations, with attention on price increases in sectors like new energy, non-ferrous metals, and chemicals, as well as low-level rebounds in dividend-paying sectors such as banking and coal [3][29] Group 2 - The report indicates that the overall A-share index has declined, with small-cap stocks outperforming, while the ChiNext index has shown weakness [4][30] - In terms of sector performance, industries such as consumer goods, retail, and basic chemicals have led gains, while sectors like telecommunications, electronics, and military defense have faced declines [4][31] Group 3 - The report notes a slight recovery in trading activity within the A-share market, with an increase in average daily trading volume and turnover rate [5][39] - The report also mentions a rise in panic sentiment domestically, with the implied volatility of the CSI 300 ETF increasing [5][43] Group 4 - The report discusses the weak performance of social financing and credit in October, with new loans significantly below expectations, indicating a cooling economy [23][26] - It highlights that the economic indicators, including exports and fixed asset investment, have shown a downward trend, with retail sales continuing to decline for five consecutive months [26][27] Group 5 - The report emphasizes the focus on sectors experiencing price increases, low-level rebounds, and technology themes, including military industry, domestic semiconductors, AI applications, and new energy [29][30] - It also points out that the electronic industry is nearing historical high valuation levels in terms of PE and PB ratios [33][35]