Moodys

Last week, I already reminded everyone that the probability of this round continuing to surge higher is very low. Looking at this week's trend, the S&P 500 has continued to decline, with the core drag coming from the Nasdaq. The reason it's extremely difficult to reach new highs again in the short term is that unless there is a major stimulus beyond expectations, the market lacks new upward momentum. Current macro data such as employment and CPI have not deteriorated significantly, so the problem is not at the macro level, but rather that the internal structure of the tech sector is changing. In January this year, Anthropic launched agent plugins, beginning to penetrate professional fields such as law, sales, and finance...

0521 | Dolphin Research Key Focus: 🐬 Macro/Industry 1. Last Friday, Moody's downgraded the U.S. credit rating from Aaa to Aa1, triggering a wave of dollar selling. The U.S. dollar index fell below the 100 mark. Moody's downgrade exposed the structural risks of the U.S. fiscal deficit, highlighting the value of gold as the "ultimate currency." Additionally, reports of Israel planning to attack Iran's nuclear facilities and the escalating Middle East tensions have surged geopolitical risks, reigniting the appeal of gold as a traditional safe-haven asset, driving a sharp rise in gold prices recently...