<p>（更新美国市场收盘情况）</p>
<p>日元在周五经历两次剧烈波动后再次飙升</p>
<p>干预担忧弥漫，田内千佳誓言采取行动</p>
<p>由于避险需求和美元疲软，贵金属持续上涨</p>
<p>投资者期待本周晚些时候的美联储政策会议</p>
<p>作者：Chuck Mikolajczak</p>
<p>纽约，1 月 26 日（路透社）- 全球股市在周一连续第四个交易日上涨，投资者期待一系列美国大型公司的财报，同时日元对美元走强，投资者在寻找日本货币干预的任何迹象。此外，黄金首次突破 5100 美元/盎司，因一系列地缘政治紧张局势继续对美元施加压力。在华尔街，美国股市收盘上涨，部分受到标准普尔 500 指数通信服务（.SPLRCL）和科技（.SPLRCT）板块上涨的提振。</p>
<p>市场还期待本周来自所谓的 “七大巨头” 的重磅公司如微软（MSFT.O）、苹果（AAPL.O）、特斯拉（TSLA.O）和 Meta Platforms（META.O）的财报，同时美联储计划在周三发布政策声明。</p>
<p>“你会看到通信和科技板块今天（周一）表现良好，提前迎接许多大型公司的财报，” 北光资产管理公司首席投资官 Chris Zaccarelli 在北卡罗来纳州夏洛特表示。“看起来我们正在经历企业利润和经济的扩张——总体而言，投资者持谨慎乐观态度，并且很可能期待财报季。” 标准普尔 500 材料板块（.SPLRCM）也收盘上涨，黄金的上涨帮助提升了如自由港麦克莫兰（FCX.N）和纽蒙特矿业（NEM.N）等股票，尽管该板块的收盘远低于早前的高点。根据 LSEG 的数据，材料板块在第一季度的盈利增长率为 24.4%，是所有板块中第二高的。</p>
<p>道琼斯工业平均指数（.DJI）上涨 313.69 点，或 0.64%，至 49,412.40 点；标准普尔 500 指数（.SPX）上涨 34.69 点，或 0.50%，至 6,950.30 点；纳斯达克综合指数（.IXIC）上涨 100.11 点，或 0.43%，至 23,601.36 点。MSCI 全球股票指数（.MIWD00000PUS）上涨 6.12 点，或 0.59%，至 1,043.67 点，正朝着连续第四个交易日上涨的方向发展，而泛欧 STOXX 600 指数（.STOXX）上涨 0.2%，受到金融股在本周晚些时候的银行财报前上涨的支持。</p>
<h3>黄金创下历史新高</h3>
<p>现货黄金（XAU=）上涨 1.42%，至每盎司 5,053.37 美元，曾触及 5,110.50 美元的高点。本月上涨超过 17%。</p>
<p>“我们现在预计黄金在年底前将达到每盎司 6,000 美元，前提是这可能是一个保守的估计，实际上可能会更高，” 法国外贸银行的分析师表示。根据 CME 的 FedWatch 工具，市场普遍预计美联储将维持利率不变，同时投资者将关注美联储主席杰罗姆·鲍威尔的言论，以获取货币政策走向的线索。美元指数（=USD）对一篮子货币下跌 0.22%，至 97.01，欧元（EUR=）上涨 0.48%，至 1.1883 美元。英镑（GBP=）上涨 0.29%，至 1.368 美元。美元对日元（JPY=）下跌 1.05%，至 154.09，在周五日元剧烈波动后，美元曾触及自 11 月中旬以来的最低点 153.30 日元，引发了对可能干预的猜测。路透社的消息来源称，纽约联邦储备银行在周五进行了利率检查。日本高层官员周一表示，他们与美国在外汇方面保持密切协调，这将标志着两国 15 年来首次协调干预。</p>
<p>“尽管美联储本周采取谨慎的鹰派立场，加上强劲的数据可能会对美元提供一些支持，但对日元市场的任何潜在干预可能会加剧美元流动性状况的疲软，” 巴克莱的分析师在一份报告中表示。尽管市场将关注鲍威尔在美联储政策声明后的评论，但此次会议可能会因特朗普政府对美联储主席的刑事调查、总统试图解雇美联储理事丽莎·库克以及即将在 5 月提名鲍威尔继任者而受到影响。</p>
<p>美国 10 年期基准国债收益率（US10YT=RR）下跌 2.4 个基点，至 4.215%。分析师认为 690 亿美元的两年期国债拍卖（US2YT=RR）表现强劲。</p>
<h3>日本的财政挑战</h3>
<p>自田内千佳于 10 月成为日本首相以来，日元一直承压，部分原因是日本政府债务超过其经济产出的两倍。市场利率的历史性上升引发了对日本偿还债务能力的担忧，但田内千佳表示，她将在 2 月 8 日的快选中竞选减税。周一发布的日本央行货币市场数据显示，周五并未进行干预。美国原油（CLc1）下跌 0.72%，至每桶 60.63 美元，布伦特原油（LCOc1）下跌 0.44%，至每桶 65.59 美元，此前因投资者评估冬季风暴对美国原油生产地区的影响而上涨超过 2%。</p>
<p>七大巨头与市场的对比</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/INDEXES-MAG7-COMPARISON-365D/lbpgmxqrzpq/chart_eikon.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1420" height="994" original-src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/INDEXES-MAG7-COMPARISON-365D/lbpgmxqrzpq/chart_eikon.jpg"/></p>
<p>货币对美元的变动</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/ALL-CURRENCY-VS-USD-PCT-CHG-ARROW-SINCE-ELEX/mopabrxbava/chart_eikon.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1420" height="1398" original-src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/ALL-CURRENCY-VS-USD-PCT-CHG-ARROW-SINCE-ELEX/mopabrxbava/chart_eikon.jpg"/></p>

<p>全球股市连续第四个交易日上涨，日元在干预担忧中对美元走强。贵金属，特别是黄金，因地缘政治紧张局势和美元疲软而创下历史新高。投资者对即将公布的美国大型公司的财报和即将召开的美联储政策会议持乐观态度。道琼斯指数上涨了 0.64%，标准普尔 500 指数和纳斯达克也有所上涨。分析师预测到年底黄金可能达到每盎司 6000 美元。美元对日元走弱，引发了市场对日本当局可能进行干预的猜测</p>

<p>(Updates with close of US markets)</p>
<div class="lb-trans"><p>（更新美国市场收盘情况）</p>
</div><p>Yen surges again after two bouts of spikes on Friday</p>
<div class="lb-trans"><p>日元在周五经历两次剧烈波动后再次飙升</p>
</div><p>Intervention worries swirl as Takaichi vows to act</p>
<div class="lb-trans"><p>干预担忧弥漫，田内千佳誓言采取行动</p>
</div><p>Precious metals keep rising on safe-haven bet, soft dollar</p>
<div class="lb-trans"><p>由于避险需求和美元疲软，贵金属持续上涨</p>
</div><p>Investors await Fed policy meeting later in the week</p>
<div class="lb-trans"><p>投资者期待本周晚些时候的美联储政策会议</p>
</div><p>By Chuck Mikolajczak</p>
<div class="lb-trans"><p>作者：Chuck Mikolajczak</p>
</div><p>NEW YORK, Jan 26 (Reuters) - Global stocks advanced for a fourth straight session on Monday as investors awaited earnings from a bevy of U.S. megacaps while the yen strengthened against the dollar as investors looked for any signs of intervention in the Japanese currency. In addition, gold advanced to top $5,100 an ounce for the first time, as a swath of geopolitical tensions continues to weigh on the U.S. dollar. On Wall Street, U.S. stocks closed higher, buoyed in part by gains in the S&amp;P 500 communication services (.SPLRCL) and tech</p>
<div class="lb-trans"><p>纽约，1 月 26 日（路透社）- 全球股市在周一连续第四个交易日上涨，投资者期待一系列美国大型公司的财报，同时日元对美元走强，投资者在寻找日本货币干预的任何迹象。此外，黄金首次突破 5100 美元/盎司，因一系列地缘政治紧张局势继续对美元施加压力。在华尔街，美国股市收盘上涨，部分受到标准普尔 500 指数通信服务（.SPLRCL）和科技（.SPLRCT）板块上涨的提振。</p>
</div><p>(.SPLRCT) sectors. Markets are also expecting earnings this week from heavyweight names that are part of the so-called Magnificent Seven such as Microsoft (MSFT.O) , Apple (AAPL.O) , Tesla (TSLA.O) and Meta Platforms (META.O) , while the Federal Reserve is scheduled to release its policy statement on Wednesday.</p>
<div class="lb-trans"><p>市场还期待本周来自所谓的 “七大巨头” 的重磅公司如微软（MSFT.O）、苹果（AAPL.O）、特斯拉（TSLA.O）和 Meta Platforms（META.O）的财报，同时美联储计划在周三发布政策声明。</p>
</div><p>“You’re seeing communications and technology are trading well today (Monday) in advance of the earnings from a lot of the large companies,” said Chris Zaccarelli, chief investment officer of Northlight Asset Management in Charlotte, North Carolina. “It seems like we’re having an expansion in corporate profits and an expansion in the economy - so generally speaking, investors are cautiously optimistic and most likely looking forward to earnings season.” The S&amp;P 500 materials sector (.SPLRCM) also closed higher, as the rise in gold helped lift stocks such as Freeport-McMoRan (FCX.N) and Newmont Mining (NEM.N) , although the sector ended well off earlier highs. The materials sector has the second-highest earnings growth rate of any sector in the first quarter at 24.4%, according to LSEG data.</p>
<div class="lb-trans"><p>“你会看到通信和科技板块今天（周一）表现良好，提前迎接许多大型公司的财报，” 北光资产管理公司首席投资官 Chris Zaccarelli 在北卡罗来纳州夏洛特表示。“看起来我们正在经历企业利润和经济的扩张——总体而言，投资者持谨慎乐观态度，并且很可能期待财报季。” 标准普尔 500 材料板块（.SPLRCM）也收盘上涨，黄金的上涨帮助提升了如自由港麦克莫兰（FCX.N）和纽蒙特矿业（NEM.N）等股票，尽管该板块的收盘远低于早前的高点。根据 LSEG 的数据，材料板块在第一季度的盈利增长率为 24.4%，是所有板块中第二高的。</p>
</div><p>The Dow Jones Industrial Average (.DJI) rose 313.69 points, or 0.64%, to 49,412.40, the S&amp;P 500 (.SPX) rose 34.69 points, or 0.50%, to 6,950.30 and the Nasdaq Composite (.IXIC) rose 100.11 points, or 0.43%, to 23,601.36. MSCI’s gauge of stocks across the globe (.MIWD00000PUS) added 6.12 points, or 0.59%, to 1,043.67 and was on track for a fourth straight session of gains, while the pan-European STOXX 600 (.STOXX) index closed up 0.2%, supported by gains in financial stocks ahead of bank earnings later in the week.</p>
<div class="lb-trans"><p>道琼斯工业平均指数（.DJI）上涨 313.69 点，或 0.64%，至 49,412.40 点；标准普尔 500 指数（.SPX）上涨 34.69 点，或 0.50%，至 6,950.30 点；纳斯达克综合指数（.IXIC）上涨 100.11 点，或 0.43%，至 23,601.36 点。MSCI 全球股票指数（.MIWD00000PUS）上涨 6.12 点，或 0.59%，至 1,043.67 点，正朝着连续第四个交易日上涨的方向发展，而泛欧 STOXX 600 指数（.STOXX）上涨 0.2%，受到金融股在本周晚些时候的银行财报前上涨的支持。</p>
</div><h3>GOLD HITS RECORD HIGH</h3>
<div class="lb-trans"><h3>黄金创下历史新高</h3>
</div><p>Spot gold (XAU=) rose 1.42% to $5,053.37 an ounce after hitting a high of $5,110.50. It is up more than 17% for the month.</p>
<div class="lb-trans"><p>现货黄金（XAU=）上涨 1.42%，至每盎司 5,053.37 美元，曾触及 5,110.50 美元的高点。本月上涨超过 17%。</p>
</div><p>“We now see gold reaching $6,000/oz by year-end, with the caveat that this is probably a conservative estimate and it could well go higher,” analysts at Societe Generale said. The Fed is widely expected to keep rates unchanged, according to CME’s FedWatch Tool, while investors will monitor comments from Chair Jerome Powell for clues on the path of monetary policy. The dollar index (=USD) , which measures the greenback against a basket of currencies, shed 0.22% to 97.01, with the euro (EUR=) up 0.48% at $1.1883. Sterling (GBP=) strengthened 0.29% to $1.368. Against the Japanese yen (JPY=) , the dollar weakened 1.05% to 154.09 after hitting its lowest since mid-November at 153.30 yen, after sharp spikes in the Japanese currency on Friday sparked speculation over a possible intervention. The New York Federal Reserve conducted rate checks on Friday, sources told Reuters. Top Japanese authorities said on Monday they have been in close coordination with the United States on foreign exchange, which would mark the first coordinated intervention between the two countries in 15 years.</p>
<div class="lb-trans"><p>“我们现在预计黄金在年底前将达到每盎司 6,000 美元，前提是这可能是一个保守的估计，实际上可能会更高，” 法国外贸银行的分析师表示。根据 CME 的 FedWatch 工具，市场普遍预计美联储将维持利率不变，同时投资者将关注美联储主席杰罗姆·鲍威尔的言论，以获取货币政策走向的线索。美元指数（=USD）对一篮子货币下跌 0.22%，至 97.01，欧元（EUR=）上涨 0.48%，至 1.1883 美元。英镑（GBP=）上涨 0.29%，至 1.368 美元。美元对日元（JPY=）下跌 1.05%，至 154.09，在周五日元剧烈波动后，美元曾触及自 11 月中旬以来的最低点 153.30 日元，引发了对可能干预的猜测。路透社的消息来源称，纽约联邦储备银行在周五进行了利率检查。日本高层官员周一表示，他们与美国在外汇方面保持密切协调，这将标志着两国 15 年来首次协调干预。</p>
</div><p>“While a cautiously hawkish stance from the (Fed) this week, along with resilient data could offer some support to the USD, any potential intervention in the yen market may worsen the already weak flow picture for the dollar,” analysts at Barclays said in a note. While markets will eye comments from Powell in the wake of the Fed policy statement, the meeting may be overshadowed by a Trump administration criminal investigation into the central bank chief, the president’s effort to fire Fed Governor Lisa Cook and the coming nomination of a successor for Powell in May.</p>
<div class="lb-trans"><p>“尽管美联储本周采取谨慎的鹰派立场，加上强劲的数据可能会对美元提供一些支持，但对日元市场的任何潜在干预可能会加剧美元流动性状况的疲软，” 巴克莱的分析师在一份报告中表示。尽管市场将关注鲍威尔在美联储政策声明后的评论，但此次会议可能会因特朗普政府对美联储主席的刑事调查、总统试图解雇美联储理事丽莎·库克以及即将在 5 月提名鲍威尔继任者而受到影响。</p>
</div><p>The yield on the benchmark U.S. 10-year note (US10YT=RR) dipped 2.4 basis points to 4.215%. A $69 billion auction of two-year notes (US2YT=RR) was seen as strong by analysts.</p>
<div class="lb-trans"><p>美国 10 年期基准国债收益率（US10YT=RR）下跌 2.4 个基点，至 4.215%。分析师认为 690 亿美元的两年期国债拍卖（US2YT=RR）表现强劲。</p>
</div><h3>JAPAN’S FISCAL CHALLENGE</h3>
<div class="lb-trans"><h3>日本的财政挑战</h3>
</div><p>The yen has been under pressure since Sanae Takaichi became Japan’s prime minister in October, in part due to concerns over Japan’s government debt that stands at more than double its economic output. A historic rise in market interest rates has raised fears for Japan’s ability to service its debt, but Takaichi has said she will cut taxes as she campaigns in a snap election set for February 8. BOJ money market data released on Monday suggested there had been no intervention on Friday. U.S. crude (CLc1) settled down 0.72% to $60.63 a barrel and Brent (LCOc1) settled at $65.59 per barrel, down 0.44% on the day after climbing more than 2% as investors assessed the impact on output in U.S. crude-producing regions from winter storms.</p>
<div class="lb-trans"><p>自田内千佳于 10 月成为日本首相以来，日元一直承压，部分原因是日本政府债务超过其经济产出的两倍。市场利率的历史性上升引发了对日本偿还债务能力的担忧，但田内千佳表示，她将在 2 月 8 日的快选中竞选减税。周一发布的日本央行货币市场数据显示，周五并未进行干预。美国原油（CLc1）下跌 0.72%，至每桶 60.63 美元，布伦特原油（LCOc1）下跌 0.44%，至每桶 65.59 美元，此前因投资者评估冬季风暴对美国原油生产地区的影响而上涨超过 2%。</p>
</div><p>The Magnificent Seven versus the market</p>
<div class="lb-trans"><p>七大巨头与市场的对比</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/INDEXES-MAG7-COMPARISON-365D/lbpgmxqrzpq/chart_eikon.jpg" alt="" original-src="https://www.reuters.com/graphics/AUTOMATED-20260123/INDEXES-MAG7-COMPARISON-365D/lbpgmxqrzpq/chart_eikon.jpg"/></p>
<p>Currency moves against the US dollar</p>
<div class="lb-trans"><p>货币对美元的变动</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.reuters.com/graphics/AUTOMATED-20260123/ALL-CURRENCY-VS-USD-PCT-CHG-ARROW-SINCE-ELEX/mopabrxbava/chart_eikon.jpg" alt="" original-src="https://www.reuters.com/graphics/AUTOMATED-20260123/ALL-CURRENCY-VS-USD-PCT-CHG-ARROW-SINCE-ELEX/mopabrxbava/chart_eikon.jpg"/></p>

GLOBAL MARKETS-Stocks rise, yen strengthens against dollar as intervention eyed

Reuters

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全球市场：股市上涨，日元兑美元走强，因市场关注可能的干预措施