<p><strong>根据美国银行的数据，华尔街上周售出了 83 亿美元的股票，这是美国历史上第二大周销售额。</strong></p>
<p>散户投资者介入，购买了 10 亿美元的股票。这使得普通交易者连续五周买入。对冲基金也增加了持仓，购买了 12 亿美元，记录了过去九周中的第八周买入。大资金在出售，而小型投资者和快速资金在买入。</p>
<h3>机构抛售美国股票，愚蠢资金和对冲基金吸收供应</h3>
<p>在同一周，股票 ETF 录得 22 亿美元的流入。同时，单只股票名称记录了 83 亿美元的流出。投资者更青睐广泛的基金而非个别公司。ETF 流入与单只股票撤回之间的差距显而易见。</p>
<p>单只股票的流出在过去 15 周中发生了 13 次。在此期间，总撤回额达到 520 亿美元。机构正在直接向散户交易者和对冲基金出售股票。流动数据表明所有权的稳定转移。</p>
<p>在最高法院裁决后，散户需求仍然有限。东部时间上午 10 点，最高法院表示，特朗普总统错误地使用了《国际紧急经济权力法》来施加互惠关税。交易者迅速反应。主要平均指数迅速上涨、下跌，然后在数小时内恢复。</p>
<p>纳斯达克综合指数正试图结束五周的下跌趋势。到周五中午，该指数上涨了 0.8%。这使得其周涨幅达到 1.4%。如果保持这一势头，科技股重的指数将打破自 2022 年 5 月以来最长的周跌势。</p>
<h3>市场为关税、伊朗风险和英伟达业绩做好准备</h3>
<p>在裁决后，特朗普表示他将根据其他贸易法实施新的 10%“全球关税”。股票在周五分阶段反应。</p>
<p>Orion Wealth Management 的首席投资官 Tim Holland 写道：“华尔街和主街似乎将在未来一段时间内处理贸易和关税问题。” Tim 关注市场面临的持续政策风险。</p>
<p>最高法院没有解决进口商是否会获得已支付的更高关税的退款的问题。该问题现在返回下级法院。Raymond James 的董事总经理兼华盛顿政策分析师 Ed Mills 写道：“我们预计企业获得关税退款的过程将漫长而具有挑战性，诉讼方需要提起个案或参与集体诉讼。”</p>
<p>未来的关税可能不会如此广泛，除非国会提供支持。如果通胀缓解，美联储可能有空间降低利率。交易者也在关注地缘政治风险。</p>
<p>特朗普将在周二晚上向国会联席会议发表国情咨文。巴克莱的交易台表示，演讲可能包括对伊朗的最后通牒。</p>
<p>与此同时，英伟达将在周三发布财报，由于该公司是今年仅有的两家在股票上获得收益的 “七大巨头” 之一，预期很高。分析师希望看到强劲的收入和与人工智能支出相关的更高预测。Cryptopolitan 将在 2 月 25 日直播财报。</p>
<p>不仅要阅读加密新闻，还要理解它。订阅我们的新闻通讯。它是免费的。</p>

纳斯达克 OMX 交易所

英伟达

<p>根据美国银行的数据，上周机构投资者出售了 83 亿美元的股票，创下美国历史上第二大周销售记录。散户投资者购买了 10 亿美元，连续五周保持买入，而对冲基金则购买了 12 亿美元。股票 ETF 的资金流入为 22 亿美元，而单只股票则出现了 83 亿美元的资金流出。纳斯达克综合指数正试图结束五周的下跌趋势，本周上涨了 1.4%。市场反应受到贸易关税和即将发布的财报的影响，特别是来自英伟达的财报</p>

<p><strong>Wall Street sold $8.3 billion of stock last week, which is the second-largest weekly sale ever recorded in U.S. history, according to data from Bank of America.</strong></p>
<div class="lb-trans"><p><strong>根据美国银行的数据，华尔街上周售出了 83 亿美元的股票，这是美国历史上第二大周销售额。</strong></p>
</div><p>Retail investors stepped in and bought $1.0 billion of stock. That makes five straight weeks of buying from everyday traders. Hedge funds also added exposure. They purchased $1.2 billion, logging their eighth buying week out of the last nine. Big money sold. Smaller players and fast money bought.</p>
<div class="lb-trans"><p>散户投资者介入，购买了 10 亿美元的股票。这使得普通交易者连续五周买入。对冲基金也增加了持仓，购买了 12 亿美元，记录了过去九周中的第八周买入。大资金在出售，而小型投资者和快速资金在买入。</p>
</div><h3>Institutions offload US stocks just as dumb money and hedge funds absorb supply</h3>
<div class="lb-trans"><h3>机构抛售美国股票，愚蠢资金和对冲基金吸收供应</h3>
</div><p>Equity ETFs saw $2.2 billion in inflows during the same week. At the same time, single stock names recorded $8.3 billion in outflows. Investors favored broad funds over individual companies. The gap between ETF inflows and single-name withdrawals was clear.</p>
<div class="lb-trans"><p>在同一周，股票 ETF 录得 22 亿美元的流入。同时，单只股票名称记录了 83 亿美元的流出。投资者更青睐广泛的基金而非个别公司。ETF 流入与单只股票撤回之间的差距显而易见。</p>
</div><p>Single stock outflows have now happened in 13 of the past 15 weeks. Total withdrawals over that stretch equal $52.0 billion. Institutions are selling directly into bids from retail traders and hedge funds. The flow data shows a steady transfer of ownership.</p>
<div class="lb-trans"><p>单只股票的流出在过去 15 周中发生了 13 次。在此期间，总撤回额达到 520 亿美元。机构正在直接向散户交易者和对冲基金出售股票。流动数据表明所有权的稳定转移。</p>
</div><p>Retail demand after the Supreme Court ruling stayed limited. At 10 a.m. ET, the high court said President Donald Trump wrongly used the International Emergency Economic Powers Act to impose reciprocal tariffs. Traders reacted fast. Major averages jumped, dropped, then recovered within hours.</p>
<div class="lb-trans"><p>在最高法院裁决后，散户需求仍然有限。东部时间上午 10 点，最高法院表示，特朗普总统错误地使用了《国际紧急经济权力法》来施加互惠关税。交易者迅速反应。主要平均指数迅速上涨、下跌，然后在数小时内恢复。</p>
</div><p>The Nasdaq Composite is trying to end a five-week losing streak. By midday Friday, the index was up 0.8%. That brought its weekly gain to 1.4%. If it holds, the technology-heavy index will break its longest run of weekly losses since May 2022.</p>
<div class="lb-trans"><p>纳斯达克综合指数正试图结束五周的下跌趋势。到周五中午，该指数上涨了 0.8%。这使得其周涨幅达到 1.4%。如果保持这一势头，科技股重的指数将打破自 2022 年 5 月以来最长的周跌势。</p>
</div><h3>Markets brace for tariffs, Iran risk, and Nvidia results</h3>
<div class="lb-trans"><h3>市场为关税、伊朗风险和英伟达业绩做好准备</h3>
</div><p>After the ruling, Trump said he will impose a new 10% “global tariff” using other trade laws. Stocks reacted in stages on Friday.</p>
<div class="lb-trans"><p>在裁决后，特朗普表示他将根据其他贸易法实施新的 10%“全球关税”。股票在周五分阶段反应。</p>
</div><p>Tim Holland, chief investment officer at Orion Wealth Management, wrote, “It would seem that Wall Street and Main Street are going to be dealing with the issue of trade and tariffs for some time to come.” Tim focused on the ongoing policy risk facing markets.</p>
<div class="lb-trans"><p>Orion Wealth Management 的首席投资官 Tim Holland 写道：“华尔街和主街似乎将在未来一段时间内处理贸易和关税问题。” Tim 关注市场面临的持续政策风险。</p>
</div><p>The Supreme Court did not address whether importers will receive refunds for tariffs already paid under steeper rates. The issue now returns to the lower courts. Ed Mills, managing director and Washington policy analyst at Raymond James, wrote, “We expect that the process for firms to receive tariff refunds will be lengthy and challenging, with litigants needing to bring individual cases or participate in class action.”</p>
<div class="lb-trans"><p>最高法院没有解决进口商是否会获得已支付的更高关税的退款的问题。该问题现在返回下级法院。Raymond James 的董事总经理兼华盛顿政策分析师 Ed Mills 写道：“我们预计企业获得关税退款的过程将漫长而具有挑战性，诉讼方需要提起个案或参与集体诉讼。”</p>
</div><p>Future tariffs may not be as broad unless Congress provides backing. If inflation eases, the Federal Reserve could gain room to cut interest rates. Traders are also watching geopolitical risk.</p>
<div class="lb-trans"><p>未来的关税可能不会如此广泛，除非国会提供支持。如果通胀缓解，美联储可能有空间降低利率。交易者也在关注地缘政治风险。</p>
</div><p>Trump will deliver his State of the Union address Tuesday night before a joint session of Congress. Barclays’ trading desk said the speech may include an ultimatum to Iran.</p>
<div class="lb-trans"><p>特朗普将在周二晚上向国会联席会议发表国情咨文。巴克莱的交易台表示，演讲可能包括对伊朗的最后通牒。</p>
</div><p>Meanwhile, Nvidia reports earnings on Wednesday, and since the company is one of only two Magnificent Seven names posting a stock gain this year, expectations are high. Analysts want strong revenue and higher forecasts tied to artificial intelligence spending. Cryptopolitan will be reporting the earnings post live on February 25.</p>
<div class="lb-trans"><p>与此同时，英伟达将在周三发布财报，由于该公司是今年仅有的两家在股票上获得收益的 “七大巨头” 之一，预期很高。分析师希望看到强劲的收入和与人工智能支出相关的更高预测。Cryptopolitan 将在 2 月 25 日直播财报。</p>
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<div class="lb-trans"><p>不仅要阅读加密新闻，还要理解它。订阅我们的新闻通讯。它是免费的。</p>
</div>

Institutional investors sold $8.3 billion of stock last week, the second-largest weekly sale on record

- 华尔街上周售出 83 亿美元股票，为美国历史上第二大周销售记录。
- 投资者青睐广泛基金，单只股票 15 周内流出 520 亿美元。
- 特朗普将发布国情咨文，市场关注关税及 Nvidia 财报。

Cryptopolitan

纳指 100 ETF - Invesco

2 倍做多英伟达 ETF - Direxion

机构投资者上周抛售了 83 亿美元的股票，这是有记录以来第二大的单周抛售量