Economic data disappoints, expectations of interest rate cuts rise, European and American bonds continue to "charge ahead"

In November, "mini non-farm" data fell short of expectations, and wage growth hit a new low in over two years. Germany's factory orders unexpectedly declined in October, far below expectations. The global central bank's rate-cutting cycle is accelerating, and the long-term bond yields in the United States have dropped to the lowest level. Panic selling has hit the technology and growth stocks, causing a decline in stock prices for companies such as Amazon, Microsoft, Alphabet-C, and others. The growth potential of the S&P 500 index is limited, so investors should focus on stocks of companies with high returns, high profit margins, and low debt levels.