<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251126_072631_spn89_720.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://invezz.com/wp-content/uploads/2025/11/20251126_072631_spn89_720.png"/></p>
<p>美国股市周四表现不一，投资者在主要科技公司发布新一波财报与美联储最新的利率决定以及持续的政治和地缘政治不确定性之间进行权衡。</p>
<p>标准普尔 500 指数小幅上涨 0.1%，反映出在前一交易日基准指数短暂突破 7000 点后，市场的谨慎情绪。</p>
<p>道琼斯工业平均指数仅上涨 16 点，而纳斯达克综合指数下跌 0.1%，受到微软股价大幅下跌的拖累。</p>
<h2>科技财报驱动显著分化</h2>
<p>大型科技公司的财报占据了市场关注的焦点，并推动个股之间的广泛分化。</p>
<p>Meta Platforms 是本次交易会的亮眼表现者之一，在 Facebook 母公司发布强于预期的第一季度销售预测后，股价飙升约 9%。</p>
<p>乐观的前景让投资者对广告需求感到安心，并帮助抵消了对科技行业部分领域增长放缓的广泛担忧。</p>
<p>特斯拉的股价也上涨，涨幅为 1.6%，此前这家电动车制造商公布的第四季度业绩超出预期。</p>
<p>Meta 和特斯拉的涨幅突显了围绕财报的选择性乐观情绪如何继续支持市场的部分领域，即使投资者对指引进行仔细审查。</p>
<p>然而，这种乐观情绪被微软的急剧抛售所抑制。该软件巨头的股价暴跌约 10%，创下自 2020 年 3 月以来的最大单日跌幅。</p>
<p>微软报告称其云业务在财年第二季度增长放缓，并对财年第三季度的运营利润指引发布了低于预期的预告。</p>
<p>这些结果引发了对大型科技公司最重要增长引擎之一的扩张速度的质疑，并对纳斯达克造成了沉重压力。</p>
<p>投资者现在期待苹果的财报，苹果计划在周四市场收盘后发布业绩。</p>
<p>苹果的财报预计将成为消费者需求和利润率的关键测试，特别是在市场评估科技行业整体健康状况时。</p>
<p>在科技行业之外，卡特彼勒的股价上涨超过 1%，因为这家工业制造商发布的第四季度业绩大幅超出华尔街预期，为来自大型科技公司的混合信号提供了更具周期性的对比。</p>
<h2>美联储决定强化谨慎立场</h2>
<p>周四市场的温和波动紧随美联储周三的政策决定，此次会议上，中央银行将基准利率维持在 3.5% 至 3.75% 的目标区间不变。该决定被广泛预期，市场反应仅温和。</p>
<p>在会议后的声明中，联邦公开市场委员会表示，指标显示 “经济活动以稳健的速度扩张”，失业率 “显示出一些稳定的迹象”。</p>
<p>与此同时，美联储重申通胀仍高于其 2% 的目标。</p>
<p>美联储主席杰罗姆·鲍威尔重申了这一信息，称通胀仍远高于中央银行的目标，并强调政策制定者将谨慎行事的预期。</p>
<p>两位美联储理事，斯蒂芬·米兰和克里斯托弗·沃勒，对这一决定表示异议，支持降息 25 个基点。</p>
<p>尽管有这些异议，会议的整体信号仍然是耐心。</p>
<p>根据 CME FedWatch 工具，期货市场继续预计到 2026 年底将有两次 25 个基点的降息，但对近期放松政策的预期仍然较低。</p>
<p>交易员现在普遍预计美联储将在当前季度结束前保持利率稳定，并可能一直持续到鲍威尔的主席任期在 5 月结束。</p>
<h2>政治和地缘政治风险依然存在</h2>
<p>除了货币政策外，关于美联储独立性的担忧为市场背景增添了另一层不确定性。</p>
<p>涉及鲍威尔的司法部刑事调查，以及对美联储理事丽莎·库克的罢免努力，引起了对货币政策制定中潜在政治干预的关注。</p>
<p>这些发展导致投资者的风险偏好更加谨慎。</p>
<p>地缘政治风险也对市场情绪造成了压力。</p>
<p>路透社报道，美国总统唐纳德·特朗普正在考虑对伊朗采取行动，包括针对安全部队和领导人物的定点打击，因为该国的抗议活动仍在继续。</p>
<p>这一报道加剧了对全球稳定的广泛担忧，即使市场试图专注于财报和经济基本面。</p>
<p>美国股市在大型科技公司财报和美联储决定后平开：标准普尔指数低于 7000 点的文章首发于 Invezz。</p>

Meta 财报，一站看懂！

<p>美国股市开盘表现不一，投资者对主要科技公司的财报和联邦储备的利率决定作出反应。标准普尔 500 指数上涨 0.1%，道琼斯指数上涨 16 点，纳斯达克指数下跌 0.1%。Meta Platforms 因强劲的销售预测上涨 9%，而微软因云业务增长放缓股价下跌 10%。联邦储备维持利率不变，表明在持续的政治和地缘政治不确定性中持谨慎乐观态度，包括涉及联邦储备主席鲍威尔的司法部调查和与伊朗的紧张关系</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251126_072631_spn89_720.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/11/20251126_072631_spn89_720.png"/></p>
<p>US stocks were mixed on Thursday as investors balanced a fresh wave of earnings from major technology companies against the Federal Reserve’s latest interest rate decision and lingering political and geopolitical uncertainty.</p>
<div class="lb-trans"><p>美国股市周四表现不一，投资者在主要科技公司发布新一波财报与美联储最新的利率决定以及持续的政治和地缘政治不确定性之间进行权衡。</p>
</div><p>The S&amp;P 500 edged up 0.1%, reflecting a cautious tone after the benchmark briefly crossed the 7,000 level in the prior session.</p>
<div class="lb-trans"><p>标准普尔 500 指数小幅上涨 0.1%，反映出在前一交易日基准指数短暂突破 7000 点后，市场的谨慎情绪。</p>
</div><p>The Dow Jones Industrial Average added just 16 points, while the Nasdaq Composite slipped 0.1%, weighed down by a sharp decline in Microsoft shares.</p>
<div class="lb-trans"><p>道琼斯工业平均指数仅上涨 16 点，而纳斯达克综合指数下跌 0.1%，受到微软股价大幅下跌的拖累。</p>
</div><h2>Tech earnings drive sharp divergences</h2>
<div class="lb-trans"><h2>科技财报驱动显著分化</h2>
</div><p>Earnings from large technology companies dominated market attention and drove wide dispersion across individual stocks.</p>
<div class="lb-trans"><p>大型科技公司的财报占据了市场关注的焦点，并推动个股之间的广泛分化。</p>
</div><p>Meta Platforms was among the session’s standout performers, surging about 9% after the Facebook parent issued a stronger-than-expected first-quarter sales forecast.</p>
<div class="lb-trans"><p>Meta Platforms 是本次交易会的亮眼表现者之一，在 Facebook 母公司发布强于预期的第一季度销售预测后，股价飙升约 9%。</p>
</div><p>The upbeat outlook reassured investors about advertising demand and helped offset broader concerns about slowing growth in parts of the technology sector.</p>
<div class="lb-trans"><p>乐观的前景让投资者对广告需求感到安心，并帮助抵消了对科技行业部分领域增长放缓的广泛担忧。</p>
</div><p>Tesla shares also advanced, rising 1.6% after the electric-vehicle maker reported fourth-quarter results that exceeded expectations.</p>
<div class="lb-trans"><p>特斯拉的股价也上涨，涨幅为 1.6%，此前这家电动车制造商公布的第四季度业绩超出预期。</p>
</div><p>The gains in Meta and Tesla underscored how selective optimism around earnings continues to support parts of the market, even as investors scrutinise guidance closely.</p>
<div class="lb-trans"><p>Meta 和特斯拉的涨幅突显了围绕财报的选择性乐观情绪如何继续支持市场的部分领域，即使投资者对指引进行仔细审查。</p>
</div><p>That optimism was tempered by a steep sell-off in Microsoft. Shares of the software giant plunged roughly 10%, marking what would be its worst one-day decline since March 2020.</p>
<div class="lb-trans"><p>然而，这种乐观情绪被微软的急剧抛售所抑制。该软件巨头的股价暴跌约 10%，创下自 2020 年 3 月以来的最大单日跌幅。</p>
</div><p>Microsoft reported that cloud growth slowed in its fiscal second quarter and issued softer-than-expected guidance on operating margin for the fiscal third quarter.</p>
<div class="lb-trans"><p>微软报告称其云业务在财年第二季度增长放缓，并对财年第三季度的运营利润指引发布了低于预期的预告。</p>
</div><p>The results raised questions about the pace of expansion in one of the most important engines of growth for Big Tech and weighed heavily on the Nasdaq.</p>
<div class="lb-trans"><p>这些结果引发了对大型科技公司最重要增长引擎之一的扩张速度的质疑，并对纳斯达克造成了沉重压力。</p>
</div><p>Investors are now looking ahead to results from Apple, which is scheduled to report earnings after the market close on Thursday.</p>
<div class="lb-trans"><p>投资者现在期待苹果的财报，苹果计划在周四市场收盘后发布业绩。</p>
</div><p>Apple’s report is expected to be a key test of consumer demand and margins, particularly as markets assess the broader health of the technology sector.</p>
<div class="lb-trans"><p>苹果的财报预计将成为消费者需求和利润率的关键测试，特别是在市场评估科技行业整体健康状况时。</p>
</div><p>Outside of technology, Caterpillar shares rose more than 1% after the industrial manufacturer posted fourth-quarter results that comfortably beat Wall Street expectations, offering a more cyclical counterpoint to the mixed signals coming from Big Tech.</p>
<div class="lb-trans"><p>在科技行业之外，卡特彼勒的股价上涨超过 1%，因为这家工业制造商发布的第四季度业绩大幅超出华尔街预期，为来自大型科技公司的混合信号提供了更具周期性的对比。</p>
</div><h2>Fed decision reinforces cautious stance</h2>
<div class="lb-trans"><h2>美联储决定强化谨慎立场</h2>
</div><p>Thursday’s muted market moves followed the Federal Reserve’s policy decision on Wednesday, when the central bank kept its benchmark interest rate unchanged at a target range of 3.5% to 3.75%. The decision was widely anticipated, and markets reacted only modestly.</p>
<div class="lb-trans"><p>周四市场的温和波动紧随美联储周三的政策决定，此次会议上，中央银行将基准利率维持在 3.5% 至 3.75% 的目标区间不变。该决定被广泛预期，市场反应仅温和。</p>
</div><p>In its post-meeting statement, the Federal Open Market Committee said indicators suggest that “economic activity has been expanding at a solid pace” and that the unemployment rate “has shown some signs of stabilization.”</p>
<div class="lb-trans"><p>在会议后的声明中，联邦公开市场委员会表示，指标显示 “经济活动以稳健的速度扩张”，失业率 “显示出一些稳定的迹象”。</p>
</div><p>At the same time, the Fed reiterated that inflation remains above its 2% target.</p>
<div class="lb-trans"><p>与此同时，美联储重申通胀仍高于其 2% 的目标。</p>
</div><p>Federal Reserve Chair Jerome Powell reinforced that message, saying inflation is still well above the central bank’s goal and underscoring expectations that policymakers will proceed cautiously.</p>
<div class="lb-trans"><p>美联储主席杰罗姆·鲍威尔重申了这一信息，称通胀仍远高于中央银行的目标，并强调政策制定者将谨慎行事的预期。</p>
</div><p>Two Fed governors, Stephen Miran and Christopher Waller, dissented from the decision in favor of a 25 basis-point rate cut.</p>
<div class="lb-trans"><p>两位美联储理事，斯蒂芬·米兰和克里斯托弗·沃勒，对这一决定表示异议，支持降息 25 个基点。</p>
</div><p>Despite those dissents, the overall signal from the meeting was one of patience.</p>
<div class="lb-trans"><p>尽管有这些异议，会议的整体信号仍然是耐心。</p>
</div><p>Futures markets continue to price in two quarter-point cuts by the end of 2026, according to the CME FedWatch Tool, but expectations for near-term easing remain low.</p>
<div class="lb-trans"><p>根据 CME FedWatch 工具，期货市场继续预计到 2026 年底将有两次 25 个基点的降息，但对近期放松政策的预期仍然较低。</p>
</div><p>Traders now largely expect the Fed to hold rates steady through the end of the current quarter and potentially until Powell’s term as chair concludes in May.</p>
<div class="lb-trans"><p>交易员现在普遍预计美联储将在当前季度结束前保持利率稳定，并可能一直持续到鲍威尔的主席任期在 5 月结束。</p>
</div><h2>Political and geopolitical risks linger</h2>
<div class="lb-trans"><h2>政治和地缘政治风险依然存在</h2>
</div><p>Beyond monetary policy, concerns over the Federal Reserve’s independence have added another layer of uncertainty to the market backdrop.</p>
<div class="lb-trans"><p>除了货币政策外，关于美联储独立性的担忧为市场背景增添了另一层不确定性。</p>
</div><p>A Department of Justice criminal investigation involving Powell, along with an evolving effort to remove Fed Governor Lisa Cook, has drawn attention to potential political interference in monetary policymaking.</p>
<div class="lb-trans"><p>涉及鲍威尔的司法部刑事调查，以及对美联储理事丽莎·库克的罢免努力，引起了对货币政策制定中潜在政治干预的关注。</p>
</div><p>Those developments have contributed to a more cautious risk appetite among investors.</p>
<div class="lb-trans"><p>这些发展导致投资者的风险偏好更加谨慎。</p>
</div><p>Geopolitical risks have also weighed on sentiment.</p>
<div class="lb-trans"><p>地缘政治风险也对市场情绪造成了压力。</p>
</div><p>Reuters reported that US President Donald Trump is considering options against Iran, including targeted strikes on security forces and leadership figures, as protests continue in the country.</p>
<div class="lb-trans"><p>路透社报道，美国总统唐纳德·特朗普正在考虑对伊朗采取行动，包括针对安全部队和领导人物的定点打击，因为该国的抗议活动仍在继续。</p>
</div><p>The report added to broader unease about global stability, even as markets attempted to focus on earnings and economic fundamentals.</p>
<div class="lb-trans"><p>这一报道加剧了对全球稳定的广泛担忧，即使市场试图专注于财报和经济基本面。</p>
</div><p>The post US stocks open flat after Big Tech earnings, Fed decision: S&amp;P below 7,000 appeared first on Invezz</p>
<div class="lb-trans"><p>美国股市在大型科技公司财报和美联储决定后平开：标准普尔指数低于 7000 点的文章首发于 Invezz。</p>
</div>

US stocks open flat after Big Tech earnings, Fed decision: S&P below 7,000

- 美国股市周四涨跌互现，因投资者关注科技公司财报与美联储利率决策。  
- 标普 500 小幅上涨 0.1%，道指上涨 16 点，纳斯达克下跌 0.1%。  
- 微软股价暴跌 10%，影响市场情绪，投资者关注苹果即将发布的财报。

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在大型科技公司公布财报和美联储决策之后，美国股市开盘持平：标普指数低于 7,000 点