<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>早餐新闻：目光转向美联储</h2>
<p>###2025 年 3 月 17 日</p>
<table>
<thead>
<tr>
<th>周五市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>5,639  (+2.13%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>17,754 (+2.61%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>41,488 (+1.65%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$84,036 (+4.2%)</td>
</tr>
</tbody>
</table>
<p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67d7fd6988dada0066cbd484/original.png/query-MTc0MjIwODM2MQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67d7fd6988dada0066cbd484/original.png/query-MTc0MjIwODM2MQ"/></p>
<p>来源：Jester AI 创建的图像。</p>
<h2>1. FOMC 能否平息紧张情绪？</h2>
<p>本周将迎来最新的美国联邦储备利率决策和政策声明，根据 CME FedWatch 工具，市场预计没有降息的可能性高达 99%。然而，近期糟糕的经济数据可能会使主席杰罗姆·鲍威尔在周三的讲话中更加宽松。</p>
<ul>
<li><strong>“美联储现在处于非常困难的境地”：</strong> BMO 资本市场的首席美国经济学家斯科特·安德森认为，滞涨前景和关税不确定性使得联邦公开市场委员会很难做出准确的货币政策决策。</li>
<li><strong>“鲍威尔保护”：</strong> 投资者希望更新的点阵图显示今年的降息次数超过之前预期的两次，鲍威尔在必要时使用支持性语言来帮助经济。这一举动可能会推动股票从近期低点反弹，有人称之为 “鲍威尔保护”。</li>
</ul>
<h2>2. 本周关注的关键财报</h2>
<p><em>股票顾问</em> 推荐的 <strong>耐克</strong>(NKE -1.35%) 将在周四市场收盘后发布季度财报。对于新任首席执行官埃利奥特·希尔来说，看到任何实质性进展可能为时已晚，销售和利润预计都会下降。</p>
<ul>
<li><strong>推荐给</strong> <strong>‘谨慎’</strong> <strong>投资者的</strong> <strong><em>隐藏宝石</em></strong> <strong>：</strong> 在周四市场开盘前，<strong>埃森哲</strong>(ACN 0.55%) 将发布第二季度业绩。投资者将密切关注咨询领域的收入增长，尤其是在帮助客户实施生成性人工智能方面，该领域在上个季度表现良好。</li>
<li><strong>在过去五年中超越标准普尔 500 的：美光科技</strong>(MU 6.23%) 也将在周四发布财报，关注美光的高带宽内存（HBM）产品在人工智能应用中的采用速度。部分短期反弹归因于对强劲财报的预期。</li>
</ul>
<h2>3. “真正的加密货币交易机会”</h2>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/bernd-schmid-1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/bernd-schmid-1.png"/></p>
<p>伯恩德·施密德，Fool 分析师</p>
<p>加密货币再次经历了一次疯狂的下跌。请放心，这种动荡对像 <em>数字探索者</em> 团队一样看到加密货币成功的投资者来说是一个宝藏。</p>
<p>尤其是许多去中心化金融协议——它们产生真实收入，通常会推动代币回购——现在都是客观的交易机会。artemis.xyz 列出了 22 个市销率低于 10 的协议。许多协议可能会失败，但那些能够存活下来的协议具有巨大的增长潜力。</p>
<p>几年后，投资者可能会为忽视这样的交易机会而感到懊悔。</p>
<h2>4. 接下来：宏观经济问题</h2>
<p>今天将发布 2 月的零售销售数据，预计月度增长为 0.7%，此前 1 月下降了 0.9%。在经历了自 2023 年 3 月以来最糟糕的数据显示后，反弹将有助于缓解投资者的担忧。</p>
<ul>
<li><strong>上个月的数据受到严重天气事件的影响：</strong> 高于预期的数据显示消费者状况良好，这是 FOMC 成员在会议开始前的最后一份主要数据发布。</li>
<li><strong>房地产作为领先经济指标：</strong> 今天房地产行业也备受关注，NAHB 3 月的住房市场指数将为房屋建筑商的信心提供指引。</li>
</ul>
<h2>5. 伯克希尔增加日本投资</h2>
<p>监管文件显示 <strong>伯克希尔哈撒韦</strong>(BRK.B 2.05%) 已增加对五家日本贸易公司的持股。自 2020 年首次投资以来，沃伦·巴菲特一直是这些多元化商业模式的公开支持者。</p>
<ul>
<li><strong>“随着时间的推移，您可能会看到伯克希尔对所有五家公司的持股有所增加”：</strong> 在上个月的年度股东信中提到这些投资后，伯克希尔在 <strong>三井物产</strong> 的持股从 8.09% 增加到 9.82%，在 <strong>三菱商事</strong> 和 <strong>住友商事</strong> 等公司也有类似的增长。</li>
<li><strong>“综合商社” 股票：</strong> 这些公司体现了巴菲特的投资风格，在传统（和经过验证的）行业中具有竞争优势，并拥有良好的管理团队。</li>
</ul>
<h2>6. 愚蠢的乐趣</h2>
<p>每位投资者应该牢记的一条投资建议是什么？与朋友和家人辩论，或者成为会员，听听其他投资者的看法！</p>

伯克希尔哈撒韦-A

伯克希尔哈撒韦-B

<p>本周的重点是美国联邦储备委员会的利率决策，市场预计不会降息。预计耐克、埃森哲和美光科技的关键财报将发布。二月份的零售销售数据也将公布，预计将出现反弹。伯克希尔哈撒韦增持了五家日本贸易公司的股份，反映了沃伦·巴菲特对其商业模式的信心。分析师建议，目前加密市场的动荡为被低估的去中心化金融协议提供了投资机会</p>

<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png" alt="" original-src="https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>Breakfast News: Eyes Turn To The Fed</h2>
<div class="lb-trans"><h2>早餐新闻：目光转向美联储</h2>
</div><h3>March 17, 2025</h3>
<div class="lb-trans"><p>###2025 年 3 月 17 日</p>
</div><table>
<thead>
<tr>
<th>Friday's Markets</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>S&amp;P 500</strong><br/>5,639  (+2.13%)</td>
</tr>
<tr>
<td><strong>Nasdaq</strong><br/>17,754 (+2.61%)</td>
</tr>
<tr>
<td><strong>Dow</strong><br/>41,488 (+1.65%)</td>
</tr>
<tr>
<td><strong>Bitcoin</strong><br/>$84,036 (+4.2%)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>周五市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>5,639  (+2.13%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>17,754 (+2.61%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>41,488 (+1.65%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$84,036 (+4.2%)</td>
</tr>
</tbody>
</table>
</div><p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67d7fd6988dada0066cbd484/original.png/query-MTc0MjIwODM2MQ" alt="" original-src="https://braze-images.com/appboy/communication/assets/image_assets/images/67d7fd6988dada0066cbd484/original.png?1742208361"/></p>
<p>Source: Image created by Jester AI.</p>
<div class="lb-trans"><p>来源：Jester AI 创建的图像。</p>
</div><h2>1. Can the FOMC Settle Nerves?</h2>
<div class="lb-trans"><h2>1. FOMC 能否平息紧张情绪？</h2>
</div><p>This week sees the latest U.S. Federal Reserve interest rate decision and policy statement, with markets pricing in a 99% chance of no rate cut according to the CME FedWatch tool. Yet recent poor economic data could make Chair Jerome Powell more accommodative in his language on Wednesday.</p>
<div class="lb-trans"><p>本周将迎来最新的美国联邦储备利率决策和政策声明，根据 CME FedWatch 工具，市场预计没有降息的可能性高达 99%。然而，近期糟糕的经济数据可能会使主席杰罗姆·鲍威尔在周三的讲话中更加宽松。</p>
</div><ul>
<li><strong>&#34;The Fed is in a very tough spot right now&#34;:</strong> Scott Anderson, chief U.S. economist at BMO Capital Markets, believes the stagflationary outlook alongside tariff uncertainty makes it difficult for the Federal Open Market Committee to make accurate monetary policy decisions.</li>
<li><strong>The &#34;Powell Put&#34;?:</strong> Investors will be hoping the updated dot plot shows more than two cuts for the year as previously expected, with Powell using supportive language around helping the economy as needed. Such a move could boost stocks off recent lows, with some referring to the move as the 'Powell put'.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“美联储现在处于非常困难的境地”：</strong> BMO 资本市场的首席美国经济学家斯科特·安德森认为，滞涨前景和关税不确定性使得联邦公开市场委员会很难做出准确的货币政策决策。</li>
<li><strong>“鲍威尔保护”：</strong> 投资者希望更新的点阵图显示今年的降息次数超过之前预期的两次，鲍威尔在必要时使用支持性语言来帮助经济。这一举动可能会推动股票从近期低点反弹，有人称之为 “鲍威尔保护”。</li>
</ul>
</div><h2>2. Key Earnings to Watch This Week</h2>
<div class="lb-trans"><h2>2. 本周关注的关键财报</h2>
</div><p><em>Stock Advisor</em> recommendation <strong>Nike</strong>(NKE -1.35%) will report quarterly earnings after the market closes on Thursday. It's likely too early to see any material progress on the turnaround for new CEO Elliott Hill, with sales and profits both expected to decline.</p>
<div class="lb-trans"><p><em>股票顾问</em> 推荐的 <strong>耐克</strong>(NKE -1.35%) 将在周四市场收盘后发布季度财报。对于新任首席执行官埃利奥特·希尔来说，看到任何实质性进展可能为时已晚，销售和利润预计都会下降。</p>
</div><ul>
<li><strong>Recommended for '</strong> <strong>Cautious</strong> <strong>' investors in</strong> <strong><em>Hidden Gems</em></strong> <strong>:</strong> Before the market opens on Thursday, <strong>Accenture</strong>(ACN 0.55%) will drop Q2 results. Investors will be closely watching for growth in revenue from the consultancy area of helping clients implement generative AI in their businesses, which did well last quarter.</li>
<li><strong>Beating the S&amp;P 500 across the last 5 years: Micron Technology</strong>(MU 6.23%) will also report on Thursday, with attention on the speed of adoption of Micron's high-bandwidth memory (HBM) products in AI applications. Part of the short-term rally is down to the anticipation of strong earnings.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>推荐给</strong> <strong>‘谨慎’</strong> <strong>投资者的</strong> <strong><em>隐藏宝石</em></strong> <strong>：</strong> 在周四市场开盘前，<strong>埃森哲</strong>(ACN 0.55%) 将发布第二季度业绩。投资者将密切关注咨询领域的收入增长，尤其是在帮助客户实施生成性人工智能方面，该领域在上个季度表现良好。</li>
<li><strong>在过去五年中超越标准普尔 500 的：美光科技</strong>(MU 6.23%) 也将在周四发布财报，关注美光的高带宽内存（HBM）产品在人工智能应用中的采用速度。部分短期反弹归因于对强劲财报的预期。</li>
</ul>
</div><h2>3. &#34;Real Crypto Bargains To Be Had&#34;</h2>
<div class="lb-trans"><h2>3. “真正的加密货币交易机会”</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/misc-assets/bernd-schmid-1.png" alt="" original-src="https://g.foolcdn.com/misc-assets/bernd-schmid-1.png"/></p>
<p>Bernd Schmid, Fool Analyst</p>
<div class="lb-trans"><p>伯恩德·施密德，Fool 分析师</p>
</div><p>Crypto is on one of its wild downhill rides again. Rest assured, this turmoil is a treasure trove for Fools who, like the <em>Digital Explorers</em> team, see crypto succeed.</p>
<div class="lb-trans"><p>加密货币再次经历了一次疯狂的下跌。请放心，这种动荡对像 <em>数字探索者</em> 团队一样看到加密货币成功的投资者来说是一个宝藏。</p>
</div><p>Especially many DeFi protocols – which generate real revenue, often boosting token buybacks – are objective bargains right now. artemis.xyz lists 22 protocols with P/S ratios under 10. Many of those will likely fail, but those that endure have massive growth potential</p>
<div class="lb-trans"><p>尤其是许多去中心化金融协议——它们产生真实收入，通常会推动代币回购——现在都是客观的交易机会。artemis.xyz 列出了 22 个市销率低于 10 的协议。许多协议可能会失败，但那些能够存活下来的协议具有巨大的增长潜力。</p>
</div><p>In a few years investors might just be kicking themselves for overlooking such bargains.</p>
<div class="lb-trans"><p>几年后，投资者可能会为忽视这样的交易机会而感到懊悔。</p>
</div><h2>4. Next Up: Macro Matters</h2>
<div class="lb-trans"><h2>4. 接下来：宏观经济问题</h2>
</div><p>Retail sales data for February is due today, with expectations of a monthly 0.7% gain following the 0.9% fall from January. A bounceback following the worst print since March 2023 would go some way in alleviating investor concern.</p>
<div class="lb-trans"><p>今天将发布 2 月的零售销售数据，预计月度增长为 0.7%，此前 1 月下降了 0.9%。在经历了自 2023 年 3 月以来最糟糕的数据显示后，反弹将有助于缓解投资者的担忧。</p>
</div><ul>
<li><strong>Last month's data skewed by severe weather events:</strong> A high print can be viewed as a sign the consumer is doing well, being one of the last major data releases members of the FOMC will have before their meeting begins.</li>
<li><strong>Property as a leading economic indicator:</strong> The property sector is also in focus today, with the NAHB housing market index for March providing a steer on homebuilder confidence.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>上个月的数据受到严重天气事件的影响：</strong> 高于预期的数据显示消费者状况良好，这是 FOMC 成员在会议开始前的最后一份主要数据发布。</li>
<li><strong>房地产作为领先经济指标：</strong> 今天房地产行业也备受关注，NAHB 3 月的住房市场指数将为房屋建筑商的信心提供指引。</li>
</ul>
</div><h2>5. Berkshire Increases Japanese Exposure</h2>
<div class="lb-trans"><h2>5. 伯克希尔增加日本投资</h2>
</div><p>Regulatory filings show <strong>Berkshire Hathaway</strong>(BRK.B 2.05%) has raised existing holdings in five Japanese trading houses. After first investing back in 2020, Warren Buffett has been an outspoken fan of the diversified business models from the conglomerates.</p>
<div class="lb-trans"><p>监管文件显示 <strong>伯克希尔哈撒韦</strong>(BRK.B 2.05%) 已增加对五家日本贸易公司的持股。自 2020 年首次投资以来，沃伦·巴菲特一直是这些多元化商业模式的公开支持者。</p>
</div><ul>
<li><strong>&#34;Over time, you will likely see Berkshire's ownership of all five increase somewhat&#34;:</strong> After addressing the investments last month in his annual shareholder letter, Berkshire's stake in <strong>Mitsui &amp; Co</strong> increased from 8.09% to 9.82%, with similar jumps in the likes of <strong>Mitsubishi Corp</strong> and <strong>Sumitomo Corp</strong>.</li>
<li><strong>&#34;Sogo Shosha&#34; stocks:</strong> The companies speak to Buffett's investing style, with a competitive advantage in traditional (and proven) sectors with well-run management teams.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“随着时间的推移，您可能会看到伯克希尔对所有五家公司的持股有所增加”：</strong> 在上个月的年度股东信中提到这些投资后，伯克希尔在 <strong>三井物产</strong> 的持股从 8.09% 增加到 9.82%，在 <strong>三菱商事</strong> 和 <strong>住友商事</strong> 等公司也有类似的增长。</li>
<li><strong>“综合商社” 股票：</strong> 这些公司体现了巴菲特的投资风格，在传统（和经过验证的）行业中具有竞争优势，并拥有良好的管理团队。</li>
</ul>
</div><h2>6. Foolish Fun</h2>
<div class="lb-trans"><h2>6. 愚蠢的乐趣</h2>
</div><p>What's one piece of investing advice that every investor should keep front and center? Debate with friends and family, or become a member to hear what your fellow Fools are saying!</p>
<div class="lb-trans"><p>每位投资者应该牢记的一条投资建议是什么？与朋友和家人辩论，或者成为会员，听听其他投资者的看法！</p>
</div>

Breakfast News: Eyes Turn To The Fed

- 本周美联储将公布利率决策，市场预期无降息可能性。  
- 伯克希尔哈撒韦增持五家日本交易公司，显示出对多元化商业模式的青睐。  
- 预计 2 月零售销售数据将反弹，缓解投资者担忧。  

早餐新闻：关注美联储