<p>华尔街这一周人潮涌动，联邦储备委员会召开会议，并发布了一系列主要科技公司的财报。但最终最重要的时刻出现在周五早上，<strong>唐纳德·特朗普</strong> 总统提名 <strong>凯文·沃什</strong> 为下一任联邦储备委员会主席。</p>
<p>沃什将在 <strong>杰罗姆·鲍威尔</strong> 的任期于五月到期时接任。沃什曾于 2006 年至 2011 年担任联邦储备委员会理事，是现代美联储历史上最年轻的政策制定者之一，35 岁时便加入了理事会。</p>
<p>沃什还因长期批评量化宽松政策而广为人知，该政策在金融危机后通过大规模资产购买扩大了美联储的资产负债表。</p>
<h2>对美联储独立性的担忧消失</h2>
<p>对市场而言，沃什的提名意味着美联储不太可能积极降息，此前市场对货币政策可能倾向于更宽松的条件以适应特朗普总统的政治议程表示担忧。</p>
<p>市场反应迅速。主导市场的大趋势在本月大部分时间内突然逆转。美元在跌至四年低点后找到了支撑。同时，贵金属的强劲反弹也戛然而止。</p>
<p>银价在周四上涨了约 60%——这是自 1864 年美国内战以来最强的月度表现——但周五早上仅一天内就下跌了约 30%，创下自 1980 年以来的最糟糕表现。</p>
<p>黄金也随之下跌了约 10%——这是四十多年来未曾见过的变动。</p>
<p>在财报方面，最大的震惊来自 <strong>微软公司</strong> (NYSE: MSFT)，其股价在周四暴跌约 10%——这是自 2020 年 3 月以来最糟糕的一天——尽管报告的财报超出预期。投资者却将注意力集中在 Azure 云服务增长放缓和谨慎的指引上，重新引发了对人工智能变现速度和可持续性的质疑。</p>
<p><strong>Meta Platforms Inc</strong>. (NASDAQ: META) 则交出了相反的惊喜。由于创纪录的季度业绩，股价上涨，收入同比增长约 24%，其应用程序的日活跃用户数上升至约 35.8 亿。</p>
<p>在科技领域，供应端的紧张继续推动内存和存储芯片制造商如 <strong>SanDisk Corp.</strong> (NASDAQ: SNDK)、<strong>Seagate Technology Holdings plc</strong> (NASDAQ: STX)、<strong>Western Digital Corp</strong>. (NASDAQ: WDC) 和 <strong>Micron Technology Inc</strong>. (NASDAQ: MU) 的股价均上涨超过 50%。</p>
<p>与此同时，密歇根州的股票在一个强劲的月份中收官。<strong>通用汽车公司</strong> (NYSE: GM) 的涨势延续至第七个月——这是自 2011 年重新上市以来最长的连胜纪录——收盘创下历史新高。<strong>福特汽车公司</strong> (NYSE: F) 上涨约 5%，在 2023 年 1 月以自 2023 年 7 月以来的最高水平收官。</p>
<p><em>图像由人工智能通过 Midjourney 生成。</em></p>

Meta 财报，一站看懂！

<p>特朗普总统提名凯文·沃什（Kevin Warsh）担任下一任联邦储备委员会主席，表明货币政策将转向不那么激进。这一提名导致市场趋势逆转，美元获得支撑，白银和黄金等贵金属经历了显著下跌。尽管微软的财报表现强劲，股价仍下跌了 10%；而 Meta Platforms 在创纪录的季度业绩后，股价大幅上涨。此外，密歇根州的股票如通用汽车和福特继续保持上升势头，收盘创下历史新高</p>

<p>It was a crowded week on Wall Street, with a Federal Reserve meeting and a slate of major tech earnings. But the moment that ultimately mattered most came Friday morning, when President <strong>Donald Trump</strong> nominated <strong>Kevin Warsh</strong> as the next Chair of the Federal Reserve.</p>
<div class="lb-trans"><p>华尔街这一周人潮涌动，联邦储备委员会召开会议，并发布了一系列主要科技公司的财报。但最终最重要的时刻出现在周五早上，<strong>唐纳德·特朗普</strong> 总统提名 <strong>凯文·沃什</strong> 为下一任联邦储备委员会主席。</p>
</div><p>Warsh is set to replace <strong>Jerome Powell</strong> when Powell's term expires in May. A former Federal Reserve governor from 2006 to 2011, Warsh was one of the youngest policymakers in modern Fed history, joining the Board at just 35.</p>
<div class="lb-trans"><p>沃什将在 <strong>杰罗姆·鲍威尔</strong> 的任期于五月到期时接任。沃什曾于 2006 年至 2011 年担任联邦储备委员会理事，是现代美联储历史上最年轻的政策制定者之一，35 岁时便加入了理事会。</p>
</div><p>Warsh is also well known as a long-time critic of quantitative easing, the policy that expanded the Fed's balance sheet through large-scale asset purchases following the financial crisis.</p>
<div class="lb-trans"><p>沃什还因长期批评量化宽松政策而广为人知，该政策在金融危机后通过大规模资产购买扩大了美联储的资产负债表。</p>
</div><h2>Fears Over Fed Independence Vanish</h2>
<div class="lb-trans"><h2>对美联储独立性的担忧消失</h2>
</div><p>To markets, Warsh's nomination signals a Federal Reserve less willing to aggressively cut interest rates, following weeks of concern that monetary policy could tilt toward easier conditions to accommodate President Trump's political agenda.</p>
<div class="lb-trans"><p>对市场而言，沃什的提名意味着美联储不太可能积极降息，此前市场对货币政策可能倾向于更宽松的条件以适应特朗普总统的政治议程表示担忧。</p>
</div><p>The market reaction was swift. Trends that had dominated markets for much of the month abruptly reversed. The U.S. dollar, which had fallen to four-year lows, found support. Meanwhile, the powerful rally in precious metals came to a sudden halt.</p>
<div class="lb-trans"><p>市场反应迅速。主导市场的大趋势在本月大部分时间内突然逆转。美元在跌至四年低点后找到了支撑。同时，贵金属的强劲反弹也戛然而止。</p>
</div><p>Silver, which on Thursday had surged roughly 60% on the month — its strongest monthly performance since the U.S. Civil War in 1864 — fell about 30% on Friday morning alone, marking its worst day since 1980.</p>
<div class="lb-trans"><p>银价在周四上涨了约 60%——这是自 1864 年美国内战以来最强的月度表现——但周五早上仅一天内就下跌了约 30%，创下自 1980 年以来的最糟糕表现。</p>
</div><p>Gold followed with a roughly 10% decline – another move unseen in over four decades.</p>
<div class="lb-trans"><p>黄金也随之下跌了约 10%——这是四十多年来未曾见过的变动。</p>
</div><p>In earnings, the biggest shock came from <strong>Microsoft Corp.</strong> (NYSE: MSFT), whose shares plunged about 10% on Thursday — their worst session since March 2020 — despite reporting stronger-than-expected earnings. Investors instead focused on slowing Azure cloud growth and cautious guidance, reviving doubts about the pace and sustainability of AI monetization.</p>
<div class="lb-trans"><p>在财报方面，最大的震惊来自 <strong>微软公司</strong> (NYSE: MSFT)，其股价在周四暴跌约 10%——这是自 2020 年 3 月以来最糟糕的一天——尽管报告的财报超出预期。投资者却将注意力集中在 Azure 云服务增长放缓和谨慎的指引上，重新引发了对人工智能变现速度和可持续性的质疑。</p>
</div><p><strong>Meta Platforms Inc</strong>. (NASDAQ: META) delivered the opposite surprise. Shares rallied after a record quarter, with revenue up roughly 24% year over year and daily active users across its apps rising to about 3.58 billion.</p>
<div class="lb-trans"><p><strong>Meta Platforms Inc</strong>. (NASDAQ: META) 则交出了相反的惊喜。由于创纪录的季度业绩，股价上涨，收入同比增长约 24%，其应用程序的日活跃用户数上升至约 35.8 亿。</p>
</div><p>Elsewhere in tech, a supply-side squeeze continued to drive outsized gains for memory and storage chipmakers such as <strong>SanDisk Corp.</strong> (NASDAQ: SNDK), <strong>Seagate Technology Holdings plc</strong> (NASDAQ: STX), <strong>Western Digital Corp</strong>. (NASDAQ: WDC) and <strong>Micron Technology Inc</strong>. (NASDAQ: MU), all up more than 50% year to date.</p>
<div class="lb-trans"><p>在科技领域，供应端的紧张继续推动内存和存储芯片制造商如 <strong>SanDisk Corp.</strong> (NASDAQ: SNDK)、<strong>Seagate Technology Holdings plc</strong> (NASDAQ: STX)、<strong>Western Digital Corp</strong>. (NASDAQ: WDC) 和 <strong>Micron Technology Inc</strong>. (NASDAQ: MU) 的股价均上涨超过 50%。</p>
</div><p>Meanwhile, Michigan-based stocks capped off a strong month. <strong>General Motors Co</strong>. (NYSE: GM) extended its rally to a seventh straight month — its longest winning streak since returning to public markets in 2011 — closing at record highs. <strong>Ford Motor Co</strong>. (NYSE: F) gained about 5%, finishing January at its highest level since July 2023.</p>
<div class="lb-trans"><p>与此同时，密歇根州的股票在一个强劲的月份中收官。<strong>通用汽车公司</strong> (NYSE: GM) 的涨势延续至第七个月——这是自 2011 年重新上市以来最长的连胜纪录——收盘创下历史新高。<strong>福特汽车公司</strong> (NYSE: F) 上涨约 5%，在 2023 年 1 月以自 2023 年 7 月以来的最高水平收官。</p>
</div><p><em>Image created using artificial intelligence via Midjourney.</em></p>
<div class="lb-trans"><p><em>图像由人工智能通过 Midjourney 生成。</em></p>
</div>

Trump's Warsh Pick Shakes Markets, Microsoft Plunges After Earnings: This Week On Wall Street

- 美联储主席提名 Kevin Warsh，替代现任主席 Jerome Powell。  
- Warsh 曾批评量化宽松，市场反应迅速。  
- 微软股价暴跌，而 Meta 股价上涨，汽车股表现强劲。

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特朗普选择 Warsh 引发市场动荡，微软在财报发布后股价暴跌：本周华尔街动态