Report Overview - The report provides a comprehensive overview of overnight futures market trends, important macro and industry news, and financial market developments as of October 31, 2025 [3] Overnight Futures Market Trends International Futures - International precious metal futures generally rose, with COMEX gold futures up 0.94% at $4038.30 per ounce and COMEX silver futures up 1.71% at $48.73 per ounce [4] - U.S. crude oil and Brent crude oil futures fell, with U.S. crude down 0.31% at $60.29 per barrel and Brent crude down 0.45% at $64.03 per barrel [5] - London base metals all declined, with LME copper down 2.27% at $10930.00 per ton, LME tin down 1.28% at $35720.00 per ton, etc. [5] - U.S. agricultural products showed mixed performance, with soybeans up 1.14%, corn down 1.04%, etc. [6] Domestic Futures - As of 23:00, domestic futures contracts mostly fell, with low-sulfur fuel oil (LU) up over 1%, and ethylene glycol (EG), methanol, etc. down over 1% [8] Important News Macroeconomic News - China and the U.S. will suspend relevant export control measures for one year, and the U.S. will also suspend 301 investigation measures on China's maritime, logistics, and shipbuilding industries [10] - A total of 500 billion yuan in new policy-based financial instruments have been fully invested, expected to drive project investment of over 7 trillion yuan [10] - The Fed may end balance sheet reduction on December 1 and become a net buyer next year [12] Energy and Chemical Futures - Singapore's fuel oil inventory rose, while middle distillates and light distillates inventories declined [16] - China's domestic soda ash inventory slightly decreased, and production increased [16] - China's national float glass inventory decreased, and inventory days decreased [16] Metal Futures - The auction of spodumene concentrate ended at a price of 7058 yuan per ton [19] - Goldman Sachs believes that copper prices may not sustain above $11,000 per ton, and the market will be slightly oversupplied in 2026 [21] - Indonesia will issue a 400,000-ton copper concentrate export quota to Amman Mineral [21] - Global gold demand in Q3 2025 reached a record high [21] Black Futures - Manganese ore production in Gabon decreased in Q3 2025 [27] - China's rebar production increased, and inventories decreased [27] - Henan Province issued an action plan for the steel industry [27] Agricultural Futures - As of October 27, Xinjiang's cotton picking progress was 82.8%, and it is expected to end around November 15 [29] - The physical inventory of red dates increased [30] - Canada's rapeseed crushing volume increased in September [32] - Brazil's sugarcane crushing and sugar production increased in October [32] Financial Markets Stocks - A-shares fell, with technology stocks leading the decline, and the lithium battery industry chain strengthened [34] - Hong Kong stocks declined, with southbound funds net buying HK$13.641 billion [34] - A-share margin trading balance exceeded 2.5 trillion yuan, and semiconductor stocks were popular among margin traders [34] Industry - The weighted average interest rate of new commercial personal housing loans in Q3 2025 was 3.07% [37] - 21 troubled real estate companies have approved or completed debt restructuring, with a total debt resolution of about 1.2 trillion yuan [37] - The pilot area for pension wealth management products will be expanded to the whole country [37] Overseas Markets - The Fed may select a new chairman before Christmas [40] - The European Central Bank maintained the benchmark interest rate at 2% [40] - Eurozone Q3 GDP grew better than expected, but member states' performance was divergent [40] - The Bank of Japan maintained the benchmark interest rate at 0.5% [40] International Stocks - U.S. stocks fell, with concerns about the economic outlook intensifying [42] - European stocks showed mixed performance, with different factors affecting each country's market [42] - Apple's Q4 revenue and earnings exceeded expectations, and it announced a cash dividend [43] - Amazon's Q3 earnings and revenue exceeded expectations, and it provided positive Q4 guidance [43] Commodities - The World Bank predicts that global commodity prices will decline in 2026 [44] - Hong Kong is accelerating the construction of an international gold trading center [45] - Global gold demand reached a record high in Q3 [45] Bonds - The interbank bond market was bullish, and Meta's bond issuance received strong demand [48] - U.S. Treasury yields rose, and the market lowered its interest rate cut expectations [49] Foreign Exchange - The central bank plans to develop the RMB foreign exchange derivatives market and promote RMB internationalization [50] - The onshore RMB depreciated against the U.S. dollar [50]

Market Overview - On October 30, US stock indices collectively declined, with the Nasdaq down by 377.33 points, a drop of 1.57%, the S&P 500 down by 0.99%, and the Dow Jones down by 0.23% [1] Company Performance - Meta Platforms experienced a significant drop of over 11%, resulting in a market value loss of $214 billion (approximately ¥15,216 million), marking its largest single-day decline in three years and reaching a new low since June. The company's Q3 net profit was $2.7 billion, falling short of analyst expectations, and it plans to raise at least $25 billion through bond issuance [2] - Google saw an increase of over 2%, with Q3 revenue, profit, and full-year capital expenditure guidance exceeding analyst expectations, and several key business segments achieving double-digit percentage growth [4] - Tesla's stock fell by over 4%, leading to a market value loss of $71.2 billion (approximately ¥5,063 million) [6] - Amazon reported Q3 net sales of $180.17 billion, surpassing the forecast of $177.82 billion, with an operating profit of $17.42 billion, below the expected $19.72 billion. The Q3 net profit was $21.19 billion, with earnings per share of $1.95, exceeding the forecast of $1.58. AWS net sales reached $33.01 billion, a 20% year-on-year increase, and the company expects Q4 net sales between $206 billion and $213 billion [7] - Apple reported Q4 revenue of $102.47 billion, a year-on-year increase of 7.9%, and a net profit of $27.47 billion, with earnings per share of $1.85, a 90.72% year-on-year increase. The company anticipates "double-digit" growth in iPhone sales for the next quarter, exceeding market expectations of 9.8% [10][11] Market Sentiment - The Nasdaq China Golden Dragon Index fell by 1.88%, with most prominent Chinese concept stocks declining, including Bilibili down over 5%, NetEase down over 4%, Alibaba down over 3%, and JD down nearly 3% [12]

Group 1: Meta - Meta's stock dropped over 11%, resulting in a market value loss of $214 billion (approximately 1521.6 billion RMB), marking the largest single-day decline in three years and reaching a new low since June [1] - The company's Q3 net profit was $2.7 billion, significantly below analyst expectations, prompting plans to raise at least $25 billion through bond issuance [1] Group 2: Amazon - Amazon reported Q3 net sales of $180.17 billion, exceeding the forecast of $177.82 billion, with an operating profit of $17.42 billion, below the expected $19.72 billion [6] - The company's Q3 net profit was $21.19 billion, with earnings per share of $1.95, surpassing the expected $1.58 [6] - AWS net sales reached $33.01 billion, a 20% year-over-year increase, above the forecast of $32.39 billion [6] - Amazon's stock surged over 13% in after-hours trading following the earnings report [6] Group 3: Apple - Apple's Q4 revenue was $102.47 billion, a 7.9% year-over-year increase, slightly above the forecast of $102.19 billion [7] - The company's Q4 net profit was $27.47 billion, with earnings per share of $1.85, a 90.72% increase year-over-year, exceeding the expected $1.77 [7] - iPhone revenue for Q4 was $49.03 billion, a 6.1% increase, while the company forecasts "double-digit" growth in iPhone sales for the next quarter, higher than the market's expected 9.8% growth [7] Group 4: Google - Google's stock rose over 2% as the company reported Q3 revenue and profit that exceeded analyst expectations, with multiple key business segments achieving double-digit percentage growth [3] Group 5: Other Companies - Microsoft and Nvidia stocks fell over 2%, while Netflix dropped over 1% [6] - Metsera Inc. (MTSR), a clinical-stage biotech company, saw its stock rise over 22%, reaching an all-time high since its listing [6] - Cryptocurrency-related stocks, including Canaan Inc., Coinbase Global, and Marathon Holdings, experienced declines, with Canaan falling over 9% and others dropping over 5% [6] Group 6: Market Indices - The Nasdaq Golden Dragon China Index fell by 1.88%, with most prominent Chinese concept stocks declining, including Bilibili down over 5% and Alibaba down over 3% [9]

4月24日，成都市统计局发布，一季度，全市实现地区生产总值5930.3亿元，按不变价格计算，同比 增长6.0%，这一增速分别高于四川省和全国0.5和0.6个百分点，也比成都去年全年增速高出0.3个百 分点，显示经济持续向好发展的态势。 支柱产业增长提速 从供给端来看，成都工业表现亮眼。一季度，规模以上工业增加值同比增长8.1%，比上年全年加快 3.3个百分点。其中有色金属冶炼和压延加工业、汽车制造业、通用设备制造业、计算机通信和其他 电子设备制造业增加值分别增长83.7%、25.4%、24.7%、22.7%。 汽车和电子信息产业是成都最重要的两大支柱产业，今年一季度这两大产业实现大幅增长，带动工业 增速提升，为经济增长提供了有力支撑。 2月19日，由成都市经信局市新经济委主办的"携手长三角 共享新机遇"2025"成都⇌长三角"电子信息 产业场景发布会在杭州举行。发布会现场，成都分别聚焦智慧装备、AI基础设施、智慧交通、智慧 应急等场景，共发布187条机会信息，涉及金额超2000亿元，将牵引带动形成市场规模超5600亿元。 成都汽车产量曾经跻身全国十强城市，2017年达到133万辆，但在新能源汽车变革大潮中受到 ...

Core Viewpoint - The article discusses how individuals, particularly those who have achieved financial freedom, can find joy and fulfillment through various means of spending and experiences rather than material possessions alone [1][10]. Group 1: Financial Freedom and Spending - Individuals should invest in a satisfactory home, especially in first-tier cities, which may cost no less than 20 million [2]. - Annual spending on personal training for health and well-being is suggested to be around 100,000 to 200,000 [2]. - Engaging in charitable acts, such as donating to local causes or sponsoring students, can provide a sense of fulfillment [6][12]. Group 2: Personal Experiences and Joy - The joy derived from financial freedom is subjective and varies from person to person, with some finding happiness in simple pleasures like gardening or cooking [14][15]. - Traveling and experiencing different cultures is highlighted as a way to enrich life and create lasting memories [11][16]. - Engaging in community activities, such as supporting local markets or helping neighbors, can enhance social connections and personal satisfaction [3][4].