格隆汇2月3日｜现货黄金突破4700美元/盎司，日内涨0.84%。现货白银日内涨幅达2%，现报80.83美元/盎司。

Rivian has the cash it needs to build it, but are mass market consumers going to buy the R2? Electric vehicle (EV) start-up Rivian (RIVN 2.14%) has made impressive strides in its attempt to break into the auto sector. It has an award-winning vehicle and has achieved scale production of its high-end trucks. It has important partners, like Amazon (AMZN +1.60%) and Volkswagen. What it doesn't have are profits. This is what you need to watch if you own or are thinking about buying Rivian. Rivian's next step Rivian currently makes delivery vehicles and expensive consumer trucks. Operating at the high end of the consumer market makes complete sense, given the company's low production volumes, since it is still just building out its EV business. Making cars is capital-intensive, and building factories even more so. If a company has only a small number of vehicles to spread its costs over, it will have to charge a lot for each car. The problem is the market size. There are far fewer people who can afford to buy expensive cars than there are people who can buy cheaper cars. This is why Rivian, having achieved production scale with its high-end vehicles, is now set to introduce a mass-market vehicle called the R2. The right move, but will it work? This is exactly what Rivian should be doing. More importantly, it is almost certain to get the R2 to market in 2026, as planned, thanks to the roughly $7 billion in cash it had on its balance sheet at the end of the third quarter of 2025. That's the good news. Expand NASDAQ : RIVN Rivian Automotive Today's Change ( -2.14 %) $ -0.32 Current Price $ 14.44 Key Data Points Market Cap $18B Day's Range $ 14.39 - $ 14.74 52wk Range $ 10.36 - $ 22.69 Volume 676K Avg Vol 46M Gross Margin -159.38 % The bad news is that there's no way to know if consumers will buy the vehicle in large enough quantities. If sales are too low, Rivian's business model may not work over the long term. And after spending so much money building out its manufacturing...

Waymo, the Alphabet-owned autonomous vehicle company, has raised $16 billion as it plans to grow its fleet of driverless taxicabs this year to more than a dozen new cities internationally, including London and Tokyo. Dragoneer Investment Group, DST Global, and Sequoia Capital led the funding round, which now values Waymo at $126 billion, the company said in a blog post Monday. Parent company Alphabet supported the round and maintained its position as majority investor. The round also included significant investments from Andreessen Horowitz and Mubadala Capital, as well as Bessemer Venture Partners, Silver Lake, Tiger Global, and T. Rowe Price. Additional investors included BDT & MSD Partners, CapitalG, Fidelity Management & Research Company, GV, Kleiner Perkins, Perry Creek Capital, and Temasek. Waymo said the funds will be used to fuel its growth, which has accelerated over the past year and doesn’t appear to be slowing. The company recently secured rides to and from San Francisco International Airport and has expanded its robotaxi service throughout Northern California and several major metropolitan areas in the U.S. including Los Angeles, Austin, and Miami. For years, the former Google self-driving project slowly progressed forward, testing its autonomous vehicle tech on public roads in Silicon Valley and the Bay Area and providing the occasional public or media demo. In 2016, it made its first geographic leap forward and began testing in Phoenix, where it eventually pulled its human safety driver out of the vehicles. Phoenix became Waymo’s first robotaxi market, in which the public could hail driverless Chrysler Pacific minivans. Waymo pushed down the accelerator in August 2023 after receiving the final necessary permit to operate a robotaxi service — and charge for rides — in California. It launched a limited service in San Francisco, later expanding to much of the greater Bay Area, Silicon Valley, and more recently to the freeways that connect the dozens of t...

Waymo, the Alphabet-owned autonomous vehicle company, has raised $16 billion as it plans to grow its fleet of driverless taxicabs this year to more than a dozen new cities internationally, including London and Tokyo. Dragoneer Investment Group, DST Global, and Sequoia Capital led the funding round, which now values Waymo at $126 billion, the company said in a blog post Monday. Parent company Alphabet supported the round and maintained its position as majority investor. The round also included significant investments from Andreessen Horowitz and Mubadala Capital, as well as Bessemer Venture Partners, Silver Lake, Tiger Global, and T. Rowe Price. Additional investors included BDT & MSD Partners, CapitalG, Fidelity Management & Research Company, GV, Kleiner Perkins, Perry Creek Capital, and Temasek. Waymo said the funds will be used to fuel its growth, which has accelerated over the past year and doesn’t appear to be slowing. The company recently secured rides to and from San Francisco International Airport and has expanded its robotaxi service throughout Northern California and several major metropolitan areas in the U.S. including Los Angeles, Austin, and Miami. For years, the former Google self-driving project slowly progressed forward, testing its autonomous vehicle tech on public roads in Silicon Valley and the Bay Area and providing the occasional public or media demo. In 2016, it made its first geographic leap forward and began testing in Phoenix, where it eventually pulled its human safety driver out of the vehicles. Phoenix became Waymo’s first robotaxi market, in which the public could hail driverless Chrysler Pacific minivans. Waymo pushed down the accelerator in August 2023 after receiving the final necessary permit to operate a robotaxi service — and charge for rides — in California. It launched a limited service in San Francisco, later expanding to much of the greater Bay Area, Silicon Valley, and more recently to the freeways that connect the dozens of t...

Palantir Technologies Inc-A (NASDAQ:PLTR) Crushes Q4 Estimates and Issues Stellar 2026 Guidance Chartmill

kdrkara The U.S. dollar rose slightly on Monday as investors weighed modest gains in the greenback against mixed moves in U.S. interest rates. The dollar index ( DXY ) was last up 0.64% at $97.61, though it remains down about 0.65% year to date. Dollar weekly moves and key drivers: Over the past week, the U.S. Dollar Index, which tracks the greenback against a basket of six major currencies, slipped 0.03%, reflecting a shifting sentiment around U.S. policy signals and Federal Reserve leadership . It rebounded late in the week after President Donald Trump named Kevin Warsh as his pick for Fed chair, easing earlier concerns over central bank independence and supporting the greenback after it had fallen to near four-year lows. Graphical Representation (SeekingAlpha) The dollar extended gains on Monday as investors digested stronger U.S. manufacturing data and sought safety amid volatility across precious metals, cryptocurrencies, and oil, while markets largely looked past delays to U.S. economic data tied to a partial government shutdown. Earlier in the week, the greenback had come under pressure from speculation over possible yen intervention , warnings around risks linked to the yen carry trade, muted moves in Asian currencies ahead of the Fed’s policy decision, and broader debate over tariffs and the dollar’s longer-term role in global finance, keeping sentiment cautious. U.S. Treasury yields were mixed, with t he 10-year Treasury yield ( US10Y ) rising six basis points to 4.29%, while the 2-year yield ( US2Y ) slipped two basis points to 3.58%. Currency Highlights: Major currency movements (January 26 to February 1) Euro ( EUR:USD ) -0.09% Pound Sterling ( GBP:USD ) +0.06% Japanese Yen ( JPY:USD ) -0.31% Chinese Yuan ( CNY:USD ) +0.08% Swiss Franc ( CHF:USD ) +0.46% Australian Dollar ( AUD:USD ) +0.42% Canadian Dollar ( CAD:USD ) +0.59% Click to enlarge The euro ( EUR:USD ) fell 0.50% as European indexes dipped amid a broad sell-off in commodities. Investors weighe...

Image source: The Motley Fool. Monday, February 2, 2026 at 5 p.m. ET CALL PARTICIPANTS Chairman and Chief Executive Officer — Seamus Grady Chief Financial Officer — Csaba Sverha Vice President, Investor Relations — Garo Toomajanian Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Total Revenue -- $1.13 billion, a record, up 36% year over year and 16% sequentially. -- $1.13 billion, a record, up 36% year over year and 16% sequentially. Non-GAAP EPS -- $3.36 per share, a record and above guidance, with a $0.09 negative FX impact. -- $3.36 per share, a record and above guidance, with a $0.09 negative FX impact. Optical Communications Revenue -- $833 million, up 29% year over year and 11% sequentially. -- $833 million, up 29% year over year and 11% sequentially. Telecom Revenue -- $554 million, up 59% year over year and 17% sequentially, driven by DCI module growth. -- $554 million, up 59% year over year and 17% sequentially, driven by DCI module growth. DCI (Data Center Interconnect) Module Revenue -- $142 million, up 42% year over year and 3% sequentially; reported as "we want to be clear that in reporting our DCI revenue, it's for coherent telecom modules that we have high confidence are being used in data center interconnect applications." -- $142 million, up 42% year over year and 3% sequentially; reported as "we want to be clear that in reporting our DCI revenue, it's for coherent telecom modules that we have high confidence are being used in data center interconnect applications." Datacom Revenue -- $278 million, down 7% year over year but up 2% sequentially; sequential growth expected to continue. -- $278 million, down 7% year over year but up 2% sequentially; sequential growth expected to continue. Non-Optical Communications Revenue -- $300 million, up 61% year over year and 30% sequentially; high-performance computing ("HPC") products contributed $86 million compared to $15 million in Q1. -- $300 million, up 61% year over year and 30%...

Earnings season marches on this week. Two more Magnificent Seven tech companies—Alphabet and Amazon—will report, following on the heels of disappointing results from Microsoft that helped send software stocks tumbling last week.

Image source: The Motley Fool. Monday, February 2, 2026 at 5 p.m. ET CALL PARTICIPANTS Chief Executive Officer — Alexander C. Karp President — Shyam Sankar Chief Financial Officer — David Glazer Chief Revenue Officer — Ryan Taylor Head of Investor Relations — Ana Soro Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Total Revenue -- $1.407 billion, up 70% year over year and 19% sequentially. -- $1.407 billion, up 70% year over year and 19% sequentially. US Revenue -- $1.076 billion, up 93% year over year and 22% sequentially; accounted for 77% of total revenue. -- $1.076 billion, up 93% year over year and 22% sequentially; accounted for 77% of total revenue. US Commercial Revenue -- $507 million, increasing 137% year over year and 28% sequentially. -- $507 million, increasing 137% year over year and 28% sequentially. US Government Revenue -- $570 million, up 66% year over year and 17% sequentially. -- $570 million, up 66% year over year and 17% sequentially. Commercial TCV Bookings -- $2.6 billion in the quarter, rising 161% year over year and 83% sequentially. -- $2.6 billion in the quarter, rising 161% year over year and 83% sequentially. US Commercial TCV Bookings -- $1.3 billion, up 67% year over year. -- $1.3 billion, up 67% year over year. Net Dollar Retention -- 139%, up 500 basis points from the prior quarter, driven by expansions and new customers. -- 139%, up 500 basis points from the prior quarter, driven by expansions and new customers. Adjusted Operating Income -- $798 million, representing a 57% margin; full year adjusted operating income was $2.254 billion at a 50% margin. -- $798 million, representing a 57% margin; full year adjusted operating income was $2.254 billion at a 50% margin. Rule of 40 Score -- 127 for the quarter, increasing 46 points year over year and 13 points sequentially. -- 127 for the quarter, increasing 46 points year over year and 13 points sequentially. Adjusted Free Cash Flow -- $791 million, a 56% mar...

Highlights Oracle Corporation remains part of the technology sector, with a focus on enterprise software, database platforms, and cloud services tied to large organisations Ratings firms broadly describe sentiment as favourable overall, with a mix of sell, neutral Recent discussion around Oracle highlights cloud-scale demand signals, including high-profile workload activity that is framed as infrastructure capability rather than social media activity Oracle Corporation operates in the technology sector, supplying enterprise software and cloud services that support database management, application development, analytics, and middleware for organisations across industries. Oracle’s (NYSE:ORCL) profile in cloud infrastructure and cloud applications has grown alongside continued demand for large-scale computing linked to modern data and AI workloads, keeping the company in focus within major market benchmarks such as the S&P 500 and the Nyse Composite. How Do Ratings Firms Respond? Coverage from ratings firms reflects a wide spread of views expressed through standard labels used in research notes. Across the coverage set, the overall tone leans favourable, with buy-oriented labels outweighing sell-oriented labels, while a meaningful portion of coverage sits in neutral territory. This blend often appears when a large-cap technology name spans both mature software franchises and faster-growing cloud segments, which can invite different weighting approaches across research houses. Recent notes referenced in market commentary show multiple firms reaffirming their stance while revising their stated view on valuation framework, business drivers, or competitive context. Even when labels remain unchanged, the narrative emphasis can shift toward cloud infrastructure execution, platform adoption, and the pace of workload migration from traditional environments to hosted environments. What Themes Appear Repeatedly? A recurring theme is Oracle’s (NYSE:ORCL) continued push to positi...

Ford Motor Co. (NYSE:F) and Chinese tech giant Xiaomi (OTC:XIACF) have both denied reports of a potential collaboration to produce electric vehicles in the United States. Ford Reportedly Held Preliminary Talks With Xiaomi The Financial Times reported that Ford had preliminary discussions with Xiaomi about a joint venture, aiming to facilitate Chinese carmakers’ entry into the U.S. market. However, both companies have refuted these claims. A Ford spokesperson stated, "This story is completely false. There is no truth to it," according to the report. Similarly, Xiaomi denied any negotiations with Ford, emphasizing that they do not sell products or services in the U.S. Don't Miss: Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Just $0.85 a Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Despite the denials, the potential collaboration has sparked controversy in Washington. John Moolenaar (R-Mich.), chair of the House China committee, criticized the idea, suggesting it would increase U.S. dependency on China. Farley's Admiration For Chinese EVs Meanwhile, Ford CEO Jim Farley has expressed admiration for Chinese EVs, even importing Xiaomi’s SU7 model for personal use. Farley has previously warned about the competitive threat posed by Chinese carmakers to Western manufacturers. Adding to the complexity, the Pentagon has flagged Ford’s existing licensing deal with China’s CATL over alleged military ties, which CATL denies. The House China committee has also raised concerns about this agreement. See Also: Blue-chip art has historically outpaced the S&P 500 since 1995, and fractional investing is now opening this institutional asset class to everyday investors. Ford Seeking Partnerships The denial of joint venture talks between Ford and Xiaomi comes at a time when Ford is actively seeking strategic partnerships to bolster its position in the electric vehicle market. Recently,...

AMD’s stock rises ahead of earnings. Why investors are feeling upbeat. MarketWatch

AMD could do a better job than Intel at capitalizing on the AI-fueled boom in traditional server chips.

hapabapa/iStock Editorial via Getty Images Article Thesis Palantir Technologies Inc. ( PLTR ) reported strong earnings results on Monday evening, easily beating estimates and showing accelerating business growth. The market reacted very positively to that, sending PLTR's shares higher . While shares have pulled back from the highs seen last summer, Palantir Technologies still is a pretty expensive stock -- which is why it's not a must-own, despite its strong growth. Past Coverage I have written about Palantir Technologies here on Seeking Alpha in the past, most recently last fall, when I wrote this article . I gave Palantir a neutral rating back then, noting that its growth outlook was appealing, but that its high valuation made it a risky stock -- so far, staying on the sidelines played out well, as Palantir has seen its shares pull back since that article was published. With Palantir Technologies reporting its most recent earnings results on Monday, it is time for me to update my views on the company today. What Happened? On Monday, following the market's close, Palantir Technologies reported its fiscal Q4 earnings results . These were the headline numbers: Palantir Technologies earnings results (Seeking Alpha) We see that the company beat estimates on both lines -- this is, of course, a good thing. The revenue beat was 4.5%, with the earnings per share beat being even larger, at almost 9% -- estimates thus were outperformed very handsomely. And that was possible despite analysts already forecasting a pretty strong growth rate, but PLTR's actual results were even better than that, with revenues soaring by almost 70% compared to one year earlier. This, together with other strong metrics from the report, such as strong order intake, made PLTR's shares pop by 8% at the time of writing -- investors clearly are happy with what Palantir has achieved during the fourth quarter. Palantir's Q4: Accelerating Business Growth When we look at the revenue growth rate over the fo...

hapabapa/iStock Editorial via Getty Images Article Thesis Palantir Technologies Inc. ( PLTR ) reported strong earnings results on Monday evening, easily beating estimates and showing accelerating business growth. The market reacted very positively to that, sending PLTR's shares higher . While shares have pulled back from the highs seen last summer, Palantir Technologies still is a pretty expensive stock -- which is why it's not a must-own, despite its strong growth. Past Coverage I have written about Palantir Technologies here on Seeking Alpha in the past, most recently last fall, when I wrote this article . I gave Palantir a neutral rating back then, noting that its growth outlook was appealing, but that its high valuation made it a risky stock -- so far, staying on the sidelines played out well, as Palantir has seen its shares pull back since that article was published. With Palantir Technologies reporting its most recent earnings results on Monday, it is time for me to update my views on the company today. What Happened? On Monday, following the market's close, Palantir Technologies reported its fiscal Q4 earnings results . These were the headline numbers: Palantir Technologies earnings results (Seeking Alpha) We see that the company beat estimates on both lines -- this is, of course, a good thing. The revenue beat was 4.5%, with the earnings per share beat being even larger, at almost 9% -- estimates thus were outperformed very handsomely. And that was possible despite analysts already forecasting a pretty strong growth rate, but PLTR's actual results were even better than that, with revenues soaring by almost 70% compared to one year earlier. This, together with other strong metrics from the report, such as strong order intake, made PLTR's shares pop by 8% at the time of writing -- investors clearly are happy with what Palantir has achieved during the fourth quarter. Palantir's Q4: Accelerating Business Growth When we look at the revenue growth rate over the fo...

Source: Bloomberg, 6:02

This article first appeared on GuruFocus. Exploring the Latest Portfolio Adjustments by the FPA Crescent Fund Steven Romick (Trades, Portfolio) recently submitted the N-PORT filing for the fourth quarter of 2025, providing insights into his investment moves during this period. Steven Romick (Trades, Portfolio) joined FPA in 1996, serving as one of several Portfolio Managers for the FPA Crescent Fund. Prior to joining the firm, Steven was Chairman of Crescent Management and a consulting security analyst for Kaplan, Nathan & Co. Steven earned a Bachelors degree in Education from Northwestern University.The FPA Crescent Fund's portfolio consists of both long and short equity positions. The fund seeks value in all parts of a company's capital structure, including common and preferred stocks, as well as corporate and convertible bonds.FPA Crescent invests in securities "that the consensus does not wish to own," searching for stocks and convertible bonds that reflect low cyclically-adjusted price-earnings ratios and trade at discounts to private market value. Corporate bonds with yields substantially higher than those of government securities are also considered. The FPA Crescent Fund's investing process stems from several pillars. Absolute value investors: The fund seeks genuine bargains rather than relatively attractive securities. Alignment of interests: The fund invests its money alongside its clients, and act as stewards of its shared capital. Broad mandate: The fund invests across the capital structure, asset classes, market caps, industries and geographies. The fund is also willing to hold cash. Long-term focus: The fund believes the best way to accomplish its goals is to accept short-term underperformance in exchange for long-term success. Summary of New Buy Steven Romick (Trades, Portfolio) added a total of 17 stocks, among them: The most significant addition was Becton Dickinson & Co (NYSE:BDX), with 1,180,043 shares, accounting for 3.2% of the portfolio and a t...

Major earnings expected before the bell on Tuesday include: Pfizer ( PFE ) PayPal Holdings ( PYPL ) Merck & Co. ( MRK ) PepsiCo ( PEP ) Enterprise Products Partners L.P. ( EPD ) Other earnings slated for release before Tuesday's open include: ADM , AME , ATI , ATKR , AUDC , BALL , BR , BRBR , CPRI , ETN , FUBO , GLXY , GPK , GWW , HUBB , INGR , IT , ITW , MITSY , MPC , MPLX , MZTI , PJT , PNR , RES , RITM , SR , TDG , WTW For Seeking Alpha's full earnings season calendar, click here .

In the latest close session, XPeng Inc. Sponsored ADR (XPEV) was down 8.29% at $16.49. This move lagged the S&P 500's daily gain of 0.54%. Meanwhile, the Dow experienced a rise of 1.05%, and the technology-dominated Nasdaq saw an increase of 0.56%. The stock of company has fallen by 11.99% in the past month, lagging the Auto-Tires-Trucks sector's loss of 2.82% and the S&P 500's gain of 0.74%. Market participants will be closely following the financial results of XPeng Inc. Sponsored ADR in its upcoming release. Alongside, our most recent consensus estimate is anticipating revenue of $3.32 billion, indicating a 50.52% upward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.23 per share and a revenue of $10.95 billion, representing changes of +72.62% and 0%, respectively, from the prior year. It's also important for investors to be aware of any recent modifications to analyst estimates for XPeng Inc Sponsored ADR. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. XPeng Inc. Sponsored ADR is holding a Zacks Rank of #2 (Buy) right now. Valuation is also important, so investors should note that XPeng Inc. Sponsored ADR has a Forward P/E ratio of 110.65 right now. This ind...

美國總統特朗普正式提名前聯儲局理事沃什出任新一任聯儲局主席。沃什多年來在公開場合批評聯儲局資產負債表膨脹，主張大幅縮減規模，並曾直言「通脹是一種選擇」。他在智庫胡佛研究所及投資人杜克米勒的家族辦公室任職期間，亦多次撰文指出市場需要紀律，而非央行的長期支持。 道瓊斯新聞評論文章指，特朗普的政治需求十分明確：他希望在中期選舉前維持股市繁榮，並要求利率下調。這意味著沃什即使在公開言辭上保持「鷹派」姿態，實際政策仍將偏向寬鬆。前紐約聯儲局總裁杜德利更直言，沃什的縮表計劃「只是一個童話故事」，難以在現實中落實。 投資啟示 市場分析認為，投資者不應單純依賴沃什的「鷹派」言辭，而要觀察其實際政策行動。 美債仍蝕本：目前10年期美債孳息約4.2%，但實際通脹接近7%，長期持有等同被通脹稀釋。美國龐大債務最終只會透過通脹逐步消化，持有長期美債風險高企。 金銀受惠：短期美元或因「鷹派言辭」走強，但最終政策仍偏寬鬆，實質利率維持負值，黃金及白銀等硬資產價值凸顯。 比特幣有潛力：沃什曾稱比特幣是「可持續的價值儲存」，並投資相關初創公司。若監管環境改善，將成為抗通脹工具。 股息成長股跑贏：在「名義高息、實質寬鬆」的環境下，能持續提高股息的企業更具吸引力，投資者可獲得穩定回報。 風險資產短期大漲：特朗普要市場上升，沃什就會配合，短期風險資產有望受惠。 投資者宜防貨幣貶值 沃什並非前聯儲局主席保羅．伏爾克（Paul Volcker）般的強硬領導者。伏爾克曾在1980年代以高息壓制通脹，即使引發衰退亦在所不惜。但沃什更像是一位懂得在政治壓力下「優雅執行」的操盤手。他會在公開場合引用「價格穩定」的辭令，營造專業形象，但最終仍會順從特朗普的減息需求。 聯儲局的獨立性近年已逐步被削弱，先是因龐大財政赤字需要央行支持，再因市場恐慌而被迫安撫，現更直接受到總統壓力。沃什不會逆轉這一趨勢，只會以更精緻的言辭管理局面。 投資者若期待「回歸健全貨幣」，恐怕只是幻想。真正的策略是：減少持有紙資產，多配置黃金、白銀等硬資產，以及能持續派息的優質股票。因為貨幣貶值才是長期趨勢，而「鷹派言辭」只是一層包裝。

美國總統特朗普正式提名前聯儲局理事沃什出任新一任聯儲局主席。沃什多年來在公開場合批評聯儲局資產負債表膨脹，主張大幅縮減規模，並曾直言「通脹是一種選擇」。他在智庫胡佛研究所及投資人杜克米勒的家族辦公室任職期間，亦多次撰文指出市場需要紀律，而非央行的長期支持。 道瓊斯新聞評論文章指，特朗普的政治需求十分明確：他希望在中期選舉前維持股市繁榮，並要求利率下調。這意味著沃什即使在公開言辭上保持「鷹派」姿態，實際政策仍將偏向寬鬆。前紐約聯儲局總裁杜德利更直言，沃什的縮表計劃「只是一個童話故事」，難以在現實中落實。 投資啟示 市場分析認為，投資者不應單純依賴沃什的「鷹派」言辭，而要觀察其實際政策行動。 美債仍蝕本：目前10年期美債孳息約4.2%，但實際通脹接近7%，長期持有等同被通脹稀釋。美國龐大債務最終只會透過通脹逐步消化，持有長期美債風險高企。 金銀受惠：短期美元或因「鷹派言辭」走強，但最終政策仍偏寬鬆，實質利率維持負值，黃金及白銀等硬資產價值凸顯。 比特幣有潛力：沃什曾稱比特幣是「可持續的價值儲存」，並投資相關初創公司。若監管環境改善，將成為抗通脹工具。 股息成長股跑贏：在「名義高息、實質寬鬆」的環境下，能持續提高股息的企業更具吸引力，投資者可獲得穩定回報。 風險資產短期大漲：特朗普要市場上升，沃什就會配合，短期風險資產有望受惠。 投資者宜防貨幣貶值 沃什並非前聯儲局主席保羅．伏爾克（Paul Volcker）般的強硬領導者。伏爾克曾在1980年代以高息壓制通脹，即使引發衰退亦在所不惜。但沃什更像是一位懂得在政治壓力下「優雅執行」的操盤手。他會在公開場合引用「價格穩定」的辭令，營造專業形象，但最終仍會順從特朗普的減息需求。 聯儲局的獨立性近年已逐步被削弱，先是因龐大財政赤字需要央行支持，再因市場恐慌而被迫安撫，現更直接受到總統壓力。沃什不會逆轉這一趨勢，只會以更精緻的言辭管理局面。 投資者若期待「回歸健全貨幣」，恐怕只是幻想。真正的策略是：減少持有紙資產，多配置黃金、白銀等硬資產，以及能持續派息的優質股票。因為貨幣貶值才是長期趨勢，而「鷹派言辭」只是一層包裝。

Indian equities are primed to narrow their rare underperformance versus Asian peers after New Delhi and Washington clinched a long-awaited trade agreement , removing a key overhang that had weighed on the nation’s financial assets and triggered record foreign outflows. The accord, announced late Monday night India time, saw President Donald Trump cut the reciprocal tariff on Indian goods to 18% from 25% and eliminate an additional 25% duty linked to India’s purchases of Russian crude oil. The move is widely seen by fund managers as a catalyst for global investors to return to Indian equities, which logged their worst January since 2016, while also offering support to a rupee that has slid to a series of record lows. “This is a good reset to India-US trade that may shift foreign investor sentiment toward India to positive,” said Arvind Chari , chief investment strategist at Q India UK. “India’s underperformance versus emerging markets could reverse.” Early market reaction pointed to rising risk appetite. Nifty 50 futures traded at GIFT City surged as much as 4.5% overnight following the announcement, signaling optimism ahead of Tuesday’s session. Cash equities had shown tentative signs of a rebound earlier in the day, with the NSE Nifty 50 Index climbing 1.1% — its strongest gain in more than two months — even as most Asian markets closed in the red amid a broader regional selloff. The advance came despite investor concerns over a proposed tax hike on equity derivatives in the Feb. 1 budget and a sharp drop in metal prices that weighed on risk assets globally. India’s valuation premium over Asia has also fallen to its lowest level in nearly five years as concerns about steep US tariffs and a drawn-out earnings slowdown weighed on sentiment. The trade deal’s finalization comes just a day after Sunday’s budget, which offered fresh support for exporters and strategic sectors such as rare earths, reinforcing early signs of improving investor confidence. “It is a great de...

宏观新闻 1、中共中央政治局常委、国务院总理李强2月2日在山东调研。他强调，要深入贯彻习近平总书记关于做好今年和“十五五”时期经济社会发展工作的重要指示精神，坚持远近结合，抓好开局起步，靠前发力实施各项政策，坚决把党中央各项决策部署落实到位，更加扎实有效地促发展惠民生增后劲。 2、中共中央、国务院发布关于《现代化首都都市圈空间协同规划（2023－2035年）》，其中指出，要建成以首都为核心的世界一流都市圈、先行示范中国式现代化的首善之区；高标准高质量建设河北雄安新区，把北京城市副中心建设成为首都发展新的增长极。 3、据伊朗政府相关人士透露，伊朗总统已正式下令开启与美国的核问题专项谈判。伊朗外交部发言人在当天早些时候的表态中也证实，伊美双方极有可能在未来几天内展开对话。据悉，本次谈判有望实现高层对接。 4、美国将把印度“对等”关税税率从25%下调至18%，即日起生效。 行业新闻 1、市场监管总局会同中央空管办、国家发展改革委等十部门联合发布《低空经济标准体系建设指南（2025年版）》，其中提出，到2027年，低空经济标准体系基本建立，基本满足低空经济安全健康发展需求。到2030年，低空经济领域标准超过300项 ，结构优化、先进合理、国际兼容的低空经济标准体系基本形成，为低空经济安全健康发展提供有力支撑。 2、工信部发布强制性国家标准《汽车车门把手安全技术要求》，将于2027年1月1日起开始实施。要求指出，每个车门 (不包括背门)应配备机械释放车门外把手。车辆的安全设计应为当发生不可逆约束装置展开或动力电池热扩散等事件后，能够通过机械释放车门外把手开启车门。每个车门 (不包括背门) 应配备至少一个机械释放车门内把手，且独立操作任一车门内把手应能够开启对应车门。 3、上海收购二手住房用于保障性租赁住房项目工作实质性启动。上海市浦东新区、静安区、徐汇区作为首批试点区。 4、SpaceX据悉正与xAI就合并事宜进行深入谈判。消息人士称，SpaceX最早可能在本周宣布与xAI的协议。 5、随着黄金、白银价格持续大幅下挫，实物黄金投资的热情有所松动，部分投资者选择观望，此前日日被抢断货的银行金条也出现了库存，部分银行的实物金条甚至显示为“库存充足”状态。 6、昨日有关于IPO政策变动的传闻，其中提到，“证监会于2月1日深夜连发三条公告，将IPO现场检查比例从5%提至20%、突击入...

For Thai beverage companies, summer can’t come fast enough. After a year of weak consumer sentiment weighing on earnings, warmer days are expected to boost the bottom lines of tea and energy drink makers. Major Thai beverage players endured profit pressures through much of 2025. Osotspa PCL , Carabao Group PCL and Ichitan Group PCL saw quarterly earnings growth in the first nine months of last year decline sequentially, while expansion in the fourth quarter is expected to be muted, according to consensus estimates compiled by Bloomberg. Increasing living costs, US tariffs, high household debt and even the Thailand-Cambodia conflict dampened profit margins in the sector last year. First-quarter earnings, though, are apt to reveal more positive numbers as the temperatures rise. “Warmer weather is expected to support beverage earnings in 2026 by lifting consumption frequency and accelerating demand for higher-value drinks,” according to Pimwadee Aguilar, director of Thailand consumer reports at Mintel. “Climate-driven demand is likely to keep the beverage sector among the stronger performers in Thailand through 2026.” Thai consumers are also increasingly interested in vitamin waters and drinks viewed as good for their health, she said. Maybank analyst Tanida Jirapornkasemsuk forecasts Thailand’s beverage sector recovering as the days get warmer with earnings growth of 9% compared with a 5% decline for food this year and will get help from summer days. “Within the food and beverage sector, we prefer beverages due to their superior sales and earnings growth outlook,” Jirapornkasemsuk said in a January report. Refreshed product lines could also entice more sales. Forty-one percent of consumers in general are motivated to try new flavored beverages, according to a survey by Mintel. Thai consumers are also increasingly interested in vitamin waters and drinks viewed as good for their health, Aguilar said. The sector could also get a boost if Thai consumer confidence strength...

"All In" On AI: Deutsche Bank Says Tesla No Longer Just A Car Company Deutsche Bank’s latest note argues that Tesla Inc. is no longer mainly a car company, but a long-term bet on artificial intelligence, robotics, and autonomy. In the report, Edison Yu and his team of analysts at Deutsche say that after Tesla’s latest earnings, any doubt about its direction is gone, describing the company as now “all in on Physical AI.” The clearest sign of that shift is spending. Tesla plans to more than double capital expenditures, potentially topping $20 billion, with most of the money going toward AI training systems, data centers, custom chips, robotics factories, and new platforms. The analysts estimate that billions will be poured into computing alone, as Tesla builds the infrastructure needed to train self-driving and robot systems at scale. Management, they note, is aiming to “structurally disrupt labor intensive services” through vertical integration. Autonomy and robotics now sit at the center of Deutsche’s long-term outlook. The firm highlights Tesla’s 1.1 million Full Self-Driving subscribers and sees FSD eventually generating up to $10 billion in annual revenue. It also expects the robotaxi network to grow to hundreds of thousands of vehicles by the end of the decade, producing more than $15 billion a year. On Optimus, Tesla’s humanoid robot, the analysts are optimistic but realistic, warning that complex engineering, new supply chains, and slow early production will limit volumes in the near term. Despite its bullish view on AI, Deutsche slightly trimmed its numbers. It cut earnings and revenue forecasts and lowered its price target from $500 to $480, while keeping a Buy rating. The reduction reflects more conservative assumptions on vehicle sales and slower model rollouts, along with a revised valuation that separates FSD, robotaxis, and robotics into distinct businesses. Most of Tesla’s long-term value, in their model, now comes from software, autonomy, and robots r...

周五非农因政府停摆推迟发布。 *美股低开高走，标普500指数逼近7000点； *中长期美债收益率上扬，10年期美债升至4.27%； *因地缘政治局势降温，原油重挫5%。 受存储芯片制造商及科技、金融权重股走高推动，美股三大主要指数周一低开高走，顶住了贵金属市场的抛售压力。 截至收盘，道指涨515.19点，涨幅1.05%，报49407.66点，纳指涨0.56%，报23592.11点，标普500指数涨0.54%，报6976.44点。芝加哥期权交易所波动率指数（VIX）盘中触及近两周高点后下跌超6%，报16.32点。 【热门股表现】 明星科技股分化，苹果涨4.04%，亚马逊涨1.53%，Meta、微软和特斯拉跌超1%，英伟达近3%。 甲骨文冲高回落跌2.75%，该公司计划2026年筹集至多500亿美元资金，用于拓展云基础设施业务、扩充产能，以满足多家头部科技企业的需求。 谷歌涨1.86%，公司旗下的Waymo自动驾驶部门即将完成一轮160亿美元的融资，德邵资本、红杉资本、DST 全球等机构或成为新晋投资方。 受益于人工智能领域零部件需求的存储芯片制造商集体走高：闪迪股价飙升15.4%，美光科技上涨5.5%，超威半导体上涨4%。 金融板块走强，富国银行、高盛和美银涨幅超1%，花旗、摩根大通涨超0.5%。 纳斯达克中国金龙指数跌0.65%，拼多多涨2.38%，网易涨0.19%，京东涨0.18%，阿里巴巴跌0.69%，百度跌3.01%。 【市场概述】 当前投资者的焦点正转向仓位调整，为美股财报季最繁忙的一周以及多项重要经济指标的公布做准备。 本周，包括谷歌母公司字母表、亚马逊、超威半导体在内的128家标普500指数成分股公司将陆续发布财报。 据富时罗素数据，目前约三分之一的标普500成分股公司已发布财报，其中约78%的企业业绩超出市场预期。 B.Riley资管分析师阿特・霍根表示：“新的一周迎来诸多市场催化因素，目前市场正显现企稳迹象。短期来看，此前的诸多担忧已经在股价中充分反映。” 不过美国银行在周一发布的研报中警告，全球股票风险偏好指标飙升至95百分位，这一利空信号表明当前市场已处于过热状态。“市场乐观情绪如今几乎体现在所有关键维度 ——波动率、资产相关性、利差、现金配置、投资者调查、认沽认购比以及技术面指标均显现出这一特征。”报告称，美国银行并非认为牛市已走到尽头，而是市...

Purpose de dividendes américain A (0P00015Q8F.TO) 過往股價及數據 Yahoo 財經

Getty Images Investment Thesis This article aims to provide a direct analysis of two CEF funds whose strategies focus on investing in utilities and infrastructure assets. The funds in question are Reaves Utility Income Trust ( UTG ) and DNP Select Income Fund ( DNP ), which are engaged in a classic duel between two giants of the utilities sector. Even though these funds invest in pretty much the same stuff, the way they invest and their strategies are totally different. I think the investment potential of UTG and DNP will grow in 2026, which is due to expectations that the Fed will keep cutting interest rates. Leverage levels for both funds are high (19.0% and 24.0%, respectively), meaning that interest rates affect the cost of servicing their debt. Therefore, lower Fed rates will result in lower leverage costs, and this directly impacts the potential total return of the funds under review. Analysis results show that the DNP portfolio is more diversified and less concentrated, whereas UTG focuses on Modern Utilities, which allows it to benefit further from the ongoing AI supercycle. Given that my forecasts anticipate a continuation of the upward trend in the technology sector market, it is my opinion that UTG has greater potential to benefit from the prevailing economic conditions in 2026. Fundamental Similarities Between UTG and DNP One important similarity between UTG and DNP is their investment concept, built on investing in the assets of utility companies that have a protective mechanism in place due to the inelasticity of demand for their services. These companies generate stable cash flows from the profits of US utility companies involved in electricity, gas, water supply, and telecommunications infrastructure. Focusing on assets involves selecting companies in the defensive sector of the US economy, the services of which are always needed by people (for the satisfaction of basic needs), independent of the macroeconomic situation. In addition, both UTG and DNP...

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