汇丰在维持激进风险偏好立场的同时，明确划定了令其转向看空的三条红线——情绪与仓位过度拥挤、AI支出放缓，以及芯片供给增加导致内存价格下跌。相比之下，该团队认为盈利预期、地缘政治和利率上升对风险资产的威胁均属次要。 据追风交易台，汇丰首席多资产策略师Max Kettner在6月4日发布的报告中指出，当前市场最大的隐患并非来自宏观层面的传统风险， 而是高度集中于科技与AI主题的结构性脆弱性。 他警告称，一旦AI支出出现任何放缓迹象，将对美国家庭财富产生负面财富效应，进而拖累整体消费，形成"经典的恶性循环"。 目前，汇丰情绪与仓位框架尚未发出卖出信号，但系统性策略的仓位已回升至中性水平。该团队特别提示，若中东局势出现实质性缓和，引发股票和信用市场的全面普涨，则可能触发其仓位框架的卖出信号——这是当前最直接的近期风险触发点。 盈利、地缘政治与利率 盈利预期过高、地缘政治紧张以及美债收益率上升被列为"低优先级"看空因素。 在盈利层面，FactSet数据显示，市场对标普500二季度每股盈利的一致预期较一季度环比小幅下降，这意味着实际业绩超预期的门槛相对较低，盈利本身反而可能成为短期上行催化剂。 盈利风险更多是下半年的故事，且科技板块的持续支撑和美国经济同比增速的潜在再加速，使得盈利大幅失望的概率有限。 在地缘政治方面，中东冲突目前主要影响油价、利率和部分外汇市场，尚未对风险资产产生系统性压制。 若要令冲突真正拖累风险资产，需要看到局势升级至足以压倒AI和芯片主题乐观情绪的程度。 此外，美国政府在过去13个月内频繁对关税政策进行回调，市场对关税风险的定价趋于钝化。 在利率层面，10年期美债收益率已处于其所定义的"危险区间"，但强调强劲的一季度盈利、较低的利率波动率，以及美国企业和居民在疫情后对利率敏感性的结构性下降，共同支撑了风险资产的韧性。该团队认为，利率成为长期看空因素的前提，是美联储独立性问题重新浮出水面，进而引发利率波动率的结构性上升。 情绪与仓位过度拥挤 情绪与仓位的过度拉伸列为首要看空触发条件之一。 报告显示， 短期情绪与仓位综合框架目前尚未发出卖出信号，系统性策略（包括CTA、风险平价和波动率目标策略）的仓位已回升至中性水平。 值得注意的是，多头长线投资者的股票敞口明显高于去年"关税日"后的水平，且在近期回调中迅速加仓，显示出较强的风险偏好。 即将到来的大型IPO本...

SoftBank Group Corp. ’s payments unit is buying the life insurance unit of T&D Holdings Inc. for ¥134.3 billion ($840 million) to broaden its offerings and better compete in Japan’s ballooning fintech market. PayPay Corp. , Japan’s dominant payments app, said it will take a 70.2% stake in privately held T&D Financial Life Insurance Co. in a deal expected to close in October of next year. One Investment Management’s OneIM Indigo will acquire a 14.9% stake. A unit of SoftBank’s telecom unit, PayPay is angling for a bigger slice of Japanese households’ near $15 trillion in financial assets . Consumers are spending more time online, spurring double-digit growth in fintech revenues across the industry. The company, which made its market debut in New York in March, is seeking to make further inroads into asset management, according to a release. Launched in 2018, PayPay has amassed more than 70 million users, gaining ground against rivals like e-commerce heavyweight Rakuten Group Inc. ’s Rakuten Pay through heavy marketing, aggressive subsidies and SoftBank’s support in signing on merchants. But Rakuten has a deeper reach through its online marketplace, cash-generating bank and securities arms, and capital tie-up with Mizuho Financial Group Inc. Under the agreement, T&D has an option to sell its remaining 14.9% stake in the life insurer three years after the deal is closed.

中海油所属海洋石油工程股份有限公司4日发布消息称，中国自主设计建造的新一代深水专业铺管船在位于青岛西海岸新区的海油工程青岛国际高端装备制造基地浮体平台完成龙骨安放，进入船体成型关键阶段，为后续分段合拢及按期交付奠定坚实基础。该船建成投用后，将进一步完善中国自主可控的海底管道施工装备矩阵，提升中国深远海复杂海域油气开发及海上风电配套管网建设核心施工能力和智能化水平，为建设海洋强国提供坚实的装备支撑。（中新网）

加皇环球资产管理公司（RBC Global Asset Management）的美国固定收益主管Andrzej Skiba表示，随着AI领域庞大资本支出不断拉动GDP增长，美联储将不得不重新审视经济过热的风险，甚至可能需要考虑加息

Oracle Corporation $ORCL Shares Acquired by Calton & Associates Inc. MarketBeat

AVGO's Q2 call says AI demand is accelerating, with $10.8B AI semi sales and a Q3 guide that lifts expectations into 2027.

格隆汇6月4日｜港股今日延续跌势，三大指数连续两日大跌近乎抹平此前涨幅，科技股“AI热”降温、半导体股一枝独秀。截止收盘，恒生指数跌1.48%报25253点，国企指数跌1.1%报8501点，恒生科技指数跌1.61%报失守5000点。 具体盘面上，权重科技股普遍低迷大市再次承压，阿里巴巴、美团、百度跌超2%，腾讯跌1.59%，小米、京东皆走低；锂电池概念股集体走低，龙头宁德时代减持上游供应商股份，机构指6月碳酸锂价格或下行，宁德时代放量大跌7%；国际金价走低，黄金ETF近一个月资金净流出超百亿元，黄金股领衔有色金属股下跌；AI应用概念股、软件类股集体弱势，光伏股、家电股、保险股、汽车股、中资券商股、生物医药股、濠赌股纷纷走低。 另一方面，AI引爆存储狂潮！存储半导体继续狂欢，兆易创新大涨近7%，华虹半导体、澜起科技跟涨，影视股尾盘拉升，中国星集团涨至13.67%。(格隆汇)

There's a lot of debate about the future of AI — not just whether it will produce the returns investors are expecting, but also if AI will lead to mass worker displacement. Big banks are the perfect prism through which to explore some of these questions. Not only are they deploying AI very quickly, but they have a wide range of workers who are using the technology, from back-office employees to junior analysts to the most senior investment bankers. We spoke with David Solomon, chairman and CEO of Goldman Sachs, about the impact of AI on the banking business, and why he does not predict a major white collar wipeout. We talk about the outlook for headcount, current conditions in capital markets, and the bank's role in the upcoming SpaceX IPO and Alphabet's historic equity capital raise. He also tells us about his early career in junk bonds and (with his love of electronic dance music) how AI is transforming music production. (Source: Bloomberg)

据网络平台数据，电影《给阿嬷的情书》票房突破15亿。

格隆汇6月4日｜6月2日，在上海外高桥振东码头上海海运跨境电商运营中心，一批货值1.8万元的手持小风扇在上海海关所属上海外高桥港区海关监管下顺利发往海外。依托海关创新的“总单+拼箱”监管模式，这批跨境电商零散货得以与其他一般贸易出口货物一道，以满柜状态直接装船发运。“总单+拼箱”模式不仅释放了中小微企业的外贸动能，更通过高效的物流供给，反向吸引亚马逊等大型电商平台货源向上海口岸“虹吸”集聚，推动跨境电商海运出口进入放量增长阶段。今年前5个月，上海海关已累计监管跨境电商海运出口货物超520万个包裹、货值超58亿元，货值已超去年全年。

Siobhan Haughey, one of Hong Kong’s most successful athletes with four Olympic swimming medals, has her sights set on more success in the pool at this September’s Asian Games in Nagoya and Aichi prefecture in Japan. The 28 year-old, who won silver medals in both the women’s 100m and 200m freestyle at the delayed 2020 Tokyo Games and two bronze medals in the same events at the 2024 Paris Games, has continued her winning ways in recent months. Earlier this year, Haughey won several medals at the...

腾讯称，后续将逐步覆盖更多机型 【财新网】 微信智能体开始在手机上落地。 “微信正在与华为、小米、OPPO、vivo等手机厂商合作推出智能体功能。目前荣耀已首批接入该功能，用户可通过荣耀手机的YOYO助理发起微信音视频通话或向指定好友发送消息。” 6月4日，腾讯客服作出上述回复，内容即来自腾讯在“腾讯客服”公众号中预制的关于这一情况的知识库。腾讯客服还称，其他厂商的智能体功能也在陆续上线中，后续会逐步覆盖更多机型，“合作基于A2A（Agent-to-Agent）协作机制，保障数据安全与隐私。”

格隆汇6月4日｜在博通大跌的拖累下，美股盘前光通信概念股集体下跌，其中，博通跌12%，POET Technologies跌超6%，诺基亚跌超5%，迈威尔科技跌超4%，康宁、Lumentum跌超3%。 消息面上，博通虽然交出了一份数据亮眼的季报，AI业务的爆发势头也延续至下季指引，但CEO在长期目标上按兵不动，拒绝为2027财年AI营收指引加码。

Arm Holdings美股盘前跌超5%，现报391.15美元。

Drones are emerging as game changers in modern defense, and the U.S. is ramping up its spending on this technology.

Germany, France, UK See Opportunity To Revive Putin Talks Without Washington Europe's most influential powers of Germany, France, and the United Kingdom are trying to again jump-start Ukraine war peace talks, collectively operating as the E3 group. They seek to implement a new framework aimed at engaging Russian President Vladimir Putin in direct negotiations to end the war. Reuters on Wednesday reports that "A window for dialogue is slowly opening between Russia and Europe on Ukraine, ​although it is likely to be months before talks can ‌begin, a German government official said at a briefing on Wednesday." It seems this window of opportunity is based to some degree on perceptions that the war tide and momentum is finally shifting in Ukraine's favor , given the increasing effectiveness of Ukraine's devastating cross-border drone attacks of late. European leaders apparently view the current battlefield and political dynamics as having strengthened Kiev's bargaining position, creating what they believe is the optimal moment to press Moscow for talks. Zelensky himself is suddenly talking about directly engaging Putin this week , saying that he's 'ready' to go to the table : 🇺🇦🇷🇺Zelensky just went nuclear on the wait-and-see game: “I’m ready for direct negotiations with Putin RIGHT NOW! Not sitting in line while the world finishes every other war first.” pic.twitter.com/yLEkLAc9zD — Mario Nawfal (@MarioNawfal) June 3, 2026 The groundwork was reportedly laid in late May, when Zelenskyy sat down for a high-stakes meeting with French President Emmanuel Macron, UK Prime Minister Keir Starmer, and German Chancellor Friedrich Merz. The leaders have sought to revamp the entire Western negotiation strategy, presenting a fiercely united European front, at a moment the Trump administration is seen as on the sidelines , or even perhaps ambivalent and apathetic to the question of Ukraine peace. The EU has been pushing back against external influence on selecting negotiators for pea...

Key PointsThe war in Ukraine highlighted the effectiveness of low-cost drones, prompting the Pentagon to initiate a $1.1 billion Drone Dominance Program.

Disorder broke out in Southampton on Tuesday in the wake of the murder of Henry Nowak.

Enrique Riquelme held Madrid shirt with Haaland’s name City bid rejected for Nottingham Forest’s Elliot Anderson Manchester City are considering legal action against Enrique Riquelme after the Real Madrid presidential candidate held up a Madrid shirt with Erling Haaland’s name on the back during a TV appearance in which he claimed a clause in the striker’s contract would allow him to sign Haaland if elected. On Wednesday Riquelme said that Haaland, who agreed a record nine-and-a-half-year deal in January 2025, wanted to join Real. The Spanish businessman also promised that Rodri would leave City for the record 15-times European champions. Continue reading...

OUTFRONT Media ( OUT ) said its wholly owned subsidiaries priced a private offering of $500M aggregate principal amount of 6.000% senior notes due 2034. The notes were priced at 100% of principal, and the offering is expected to close on June 12. Net proceeds, together with borrowings under its accounts receivable securitization facility and cash on hand, will be used to redeem all outstanding 5.000% senior notes due 2027, pay related accrued interest, and cover fees and expenses associated with the transaction. The offering is being conducted as a private placement. More on Outfront Media OUTFRONT Media Inc. (OUT) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript OUTFRONT Media Inc. (OUT) Q1 2026 Earnings Call Transcript OUTFRONT Media Inc. 2026 Q1 - Results - Earnings Call Presentation Outfront Media declares $0.30 dividend Seeking Alpha’s Quant Rating on Outfront Media

NVIDIA recently used Computex and GTC Taipei to unveil RTX Spark, its first AI PC superchip co‑developed with Microsoft and MediaTek, alongside the Vera CPU and rack‑scale Vera Rubin platform for agentic AI factories now ramping into full production. These launches push NVIDIA beyond GPUs into end‑to‑end AI infrastructure for both data centers and Windows PCs, tightening ecosystem ties with hyperscalers, OEMs, chipmakers, and software providers across industries from healthcare to autonomous...

Will NVIDIA's (NVDA) RTX Spark and Vera AI PC Platform Shift Its End‑to‑End Narrative? Yahoo Finance

AEVEX ( AVEX ), part of Madison Dearborn Partners’ funds, announced the pricing of its public offering , which includes 5.73M shares from AEVEX and 2.27M shares from certain selling stockholders, priced at $27.00 per share. Additionally, AEVEX and the selling stockholders have allowed underwriters a 30-day option to buy up to 858.92K and 341.08K additional shares of Class A common stock from AEVEX and the selling stockholders , respectively, at the same price, minus underwriting fees. The offering is expected to close on June 5, 2026, pending standard closing conditions. More on AEVEX Corp. AEVEX Corp.: Operational Trends In Kinetic Drones AEVEX: This Defense-Tech Full Drone Stack Company Could Be A Future Winner AEVEX: Drone Player Taking Off AEVEX launches public offering of 8M Class A shares Applied Aerospace & Defense seeks $3.59 billion valuation in IPO

格隆汇6月4日｜Piper Sandler将信诺的目标价从370美元下调至346美元，维持“增持”评级。(格隆汇)

Bank of America predicts a streak of gilt purchases by foreign buyers extended through May, as some of the highest government yields in major developed nations offset political turbulence and inflation fears. The BofA forecast came after Bank of England data on Tuesday showed more overseas investors bought gilts than sold them for an eighth consecutive month in April, the longest streak since 2021. Thirty-year yields above 5.5% are the highest in a basket of 21 developed markets tracked by Bloomberg. “Up until 2022, investors were systematically bearish gilts,” said Mark Capleton , head of global-inflation linked research at Bank of America. “They thought gilts were expensive, and now they think they are cheap.” A potential Labour leadership challenge and inflationary pressures from the war in Iran sent UK borrowing costs to the highest in decades in the first half of May. Gilts then staged a recovery as hopes for a peace deal between the US and Iran drove oil prices lower. Andy Burnham, the potential rival to Prime Minister Keir Starmer, will take part in a TV debate on Thursday evening between candidates in a June 18 by-election. To be sure, Capleton said that some of the overseas demand may come from UK-based investors purchasing gilts via offshore accounts. The figures could also be inflated by hedge funds executing non-directional trades, such as basis trades, which seek to profit from small price differences between cash bonds and futures contracts, he said. Read more: Hedge Funds Control More Than Half of Electronic Gilts Trading The gilt-buying data suggest banks are trying to rebuild their holdings of high-quality liquid assets as the BOE pushes ahead selling the bonds it bought as part of its past quantitative easing programs. According to Capleton, the Debt Management Office should continue reducing the weighted-average maturity of newly issued bonds. “The curve would benefit from further shortening to meet the needs of what are now the dominant investors...

【港股收市】恒指再跌379點 寧德時代挫7% 友邦跌逾6%（不斷更新） 香港經濟日報HKET

全市场超4100只个股下跌 6月4日，A股三大指数集体走低，上证指数跌0.64%，深证成指跌0.27%，创业板指跌0.83%。全市场成交额2.78万亿元，较前一交易日缩量3740亿元，超4100股下跌。 盘面上，电子化学品全天强势，龙辰科技盘中触及30cm涨停；DRAM大宗价格半年涨至3.5倍，存储芯片板块走强，大为股份等多股涨停；PCB板块拉升，奕东电子等多股涨停；煤炭、玻璃基板、超级电容、光刻机板块涨幅居前。另一方面，油气开采及服务板块全天低迷，科力股份、通源石油跌超10%；白酒板块震荡走低，金种子酒、金徽酒下跌；工业金属板块走弱，中国铝业跌逾9%；钛白粉、锂电池、零售板块下跌。 具体来看： 中船系上涨，中船特气20cm涨停，中国动力10cm涨停，久之洋涨超6%，中船汉光涨5%，中国船舶、中船防务跟涨。 电子化学品全天强势，龙辰科技盘中触及30cm涨停，中船特气20cm涨停，唯特偶、奥来德、华特气体、三孚新科、兴福电子涨幅靠前。 存储芯片板块走强，大为股份、立昂微、德明利等多股涨停。 市场调研机构Counterpoint发布了NAND存储市场追踪报告。报告显示，受人工智能需求推动，2026年第一季度全球NAND存储市场营收达460亿美元，环比接近翻倍。 煤炭开采加工板块持续活跃，安泰集团、平煤股份、大有能源收获涨停，华电能源涨7%，陕西黑猫涨超6%，兖矿能源、淮北矿业、晋控煤业、山西焦煤跟涨。 PCB概念震荡回升，奕东电子20cm涨停，三孚新科涨超14%，民爆光电涨超13%，芯碁微装、弘信电子涨超11%。 据IDC披露，2026年全球AI服务器出货量预计突破200万台，直接拉动高端PCB需求增长超110%，单台AI服务器PCB价值量达普通服务器的近10倍。 油气开采及服务板块全天低迷，科力股份、通源石油双双跌超10%，潜能恒信跌超6%，蓝焰控股跌超5%，中曼石油、贝肯能源、中油工程跟跌。 白酒板块震荡下跌，金徽酒跌超7%，酒鬼酒、金种子酒跌超6%，今世缘、水井坊、伊力特、皇台酒业跌超5%。 猪肉板块飘绿，立华股份跌超12%，益生股份、巨星农牧跌超4%，天邦食品、新希望、海大集团、唐人神、金新农跌超3%。 工业金属板块走弱，中国铝业跌逾9%，天山铝业跌超8%，锌业股份、宏桥控股、神火股份、云铝股份跌超6%。 零售板块亦表现疲软，中央商场、中百集团跌停，步步高、宁波...

格隆汇6月4日丨瑞银将意法半导体目标股价从49欧元上调至80欧元。