来源：市场投研资讯 大类资产近期变动（2025/10/1-2025/10/7） 美股市场全线收涨，纳斯达克指数、道琼斯工业指数与标普500指数分别录得0.57%、0.44%和0.39%的 涨幅。行业层面，Wind美国一级行业中，医疗保健（3.73%）、公用事业（2.76%）与信息技术板块 （1.48%）表现领先，二级行业中煤炭Ⅱ（5.62%）、医药生物（4.90%）及钢铁Ⅱ板块（2.83%）涨幅 居前。欧洲市场同步走强，德国DAX30、英国富时100及法国CAC40指数分别上涨2.11%、1.42%、 1.00%。大宗商品方面，LME钴（11.33%）、LME铜（4.80%）、COMEX黄金（3.39%）领涨，而受 OPEC+ 10月进一步增产预期影响，布伦特原油与纽约期油跌幅靠前。汇率方面，截至10月7日，美元指 数收报98.58，周涨0.82%；美元兑离岸人民币报7.15，周涨0.25%。 科技利好不断，美股再创新高 宏观层面来看，美国政府于当地时间10月1日零点起正式进入停摆状态，9月ADP新增就业人数意外录得 负值，市场避险情绪升温，黄金价格创下历史新高。此次停摆的直接原因是共和党与民主党未能就新财 ...

丨证券研究报告丨 市场策略丨专题报告 [Table_Title] 十一关键词：AI 迭代 vs 美国政府停摆 %% %% research.95579.com 1 报告要点 [Table_Summary] 美股三大指数国庆假期期间（2025/10/1-2025/10/7）全线收涨，其中纳斯达克指数领涨。从行 业表现看，医疗保健、公用事业等板块涨幅居前。欧洲市场同样表现强劲。大宗商品市场呈现 分化走势，基本金属价格大幅上涨，而国际油价则因供应增加预期大幅下挫。外汇市场方面， 美元指数小幅上涨，美元兑离岸人民币汇率上升。 分析师及联系人 [Table_Author] 戴清 SAC：S0490524010002 SFC：BTR264 请阅读最后评级说明和重要声明 %% %% [Table_Title2] 十一关键词：AI 迭代 vs 美国政府停摆 [Table_Summary2] 大类资产近期变动（2025/10/1-2025/10/7） 美股市场全线收涨，纳斯达克指数、道琼斯工业指数与标普 500 指数分别录得 0.57%、0.44% 和 0.39%的涨幅。行业层面，Wind 美国一级行业中，医疗保健（3.73% ...

Group 1 - Fiverr's CEO Micha Kaufman emphasizes the need for individuals to adapt to the changing job landscape influenced by AI, suggesting that traditional roles may become obsolete and that workers should focus on automating their tasks to free up time for more complex thinking [2][11][5] - The company has successfully navigated various technological shifts since its founding in 2010, including the transition from PC to mobile internet and the rise of the gig economy [2][3] - Fiverr went public in 2019 with a valuation of $650 million, and its revenue surged to $189.5 million in 2020 due to the COVID-19 pandemic and the shift to remote work [3][2] Group 2 - Kaufman warns that 99% of AI startups are likely to fail within one to two years, with only a few companies that provide foundational infrastructure or solve specific problems surviving [4][30] - He stresses that true innovation should focus on identifying new problems rather than merely optimizing existing products [4][30] - Speed is identified as a critical competitive advantage in the rapidly evolving AI market, where being first to test and validate ideas can determine a company's survival [4][30] Group 3 - The conversation highlights a collective anxiety regarding AI's impact on employment, with Kaufman stating that individuals must continuously update their skills and knowledge to remain relevant [11][14][16] - He argues that the essence of human value lies in creativity, aesthetic judgment, and moral discernment, which machines cannot replicate [11][14] - The current AI landscape is compared to the dot-com bubble, suggesting that many companies are entering the market without offering substantial value, leading to an inevitable market correction [30][19] Group 4 - Kaufman believes that the rapid pace of AI development has made traditional predictive models obsolete, as the industry is now characterized by uncertainty and volatility [39][40] - He notes that the market is currently oversaturated with AI companies, and only a few will emerge as leaders, similar to the consolidation seen in the cloud services market [32][40] - The importance of human creativity and the unique contributions of individuals are emphasized, as technology alone cannot drive success without the right people behind it [26][27]

Core Viewpoint - Apple is deepening its support for the next generation of developers in China by donating 30 million yuan to Zhejiang University and establishing a mobile application incubation fund in collaboration with the university [2][3][6]. Group 1: Donation and Collaboration - Apple announced a donation of 30 million yuan to Zhejiang University, reinforcing its commitment to supporting student and developer education in the Greater China region [2][3]. - The collaboration will focus on the establishment of the Apple Mobile Application Incubation Fund, which aims to provide cutting-edge technical training in areas such as app development, product design, marketing, and business operations [6]. - The fund will facilitate connections between student developers and industry leaders through workshops, internships, and mentorship programs, helping them succeed in the evolving iOS app economy [6]. Group 2: CEO's Engagement and Cultural Appreciation - Apple CEO Tim Cook expressed admiration for the innovative projects showcased at the Mobile Application Innovation Competition, calling them "unbelievable" [1]. - During his visit to China, Cook engaged with local culture, highlighting his appreciation for traditional Chinese art forms such as calligraphy and emphasizing the importance of preserving and passing down cultural heritage [15]. - Cook's interactions with the media were characterized by a positive outlook, although he chose not to comment on sensitive topics such as U.S. tariffs [15].