<p>在 10 月 10 日星期五，<strong>唐納德·特朗普</strong> 宣佈對中國商品徵收 100% 的關税後，市場受到震動，隨後總統迅速緩和了語氣，保證貿易關係 “會很好”。</p>
<p>這一甜頭受到市場的歡迎，幫助華爾街在本週初反彈。</p>
<h3>鮑威爾的鴿派言論為復甦增添動力</h3>
<p>復甦還受到強於預期的銀行盈利和美聯儲主席 <strong>傑羅姆·鮑威爾</strong> 的鴿派言論的推動。</p>
<p>鮑威爾警告就業面臨日益增加的風險，這進一步表明中央銀行可能會繼續降低借貸成本，增強了本月晚些時候降息的預期。</p>
<h3>大型銀行表現亮眼，但小型貸款機構出現裂痕</h3>
<p>包括 <strong>摩根大通</strong>（NYSE:JPM）、<strong>高盛</strong>（NYSE:GS）、<strong>美國銀行</strong>（NYSE:BAC）、<strong>花旗集團</strong>（NYSE:C）、<strong>富國銀行</strong>（NYSE:WFC）和 <strong>摩根士丹利</strong>（NYSE:MS）在內的主要美國銀行均超出分析師預期，突顯了該國金融巨頭的韌性。</p>
<p>然而，小型地區貸款機構的裂痕開始顯現。</p>
<h3>信貸擔憂在 Zions 和 Western Alliance 中重新浮現</h3>
<p>週四，市場被提醒了這種脆弱性，當時一波新的波動襲擊了該行業，幾家地區銀行警告信貸問題。<strong>Zions Bancorporation</strong>（NASDAQ:ZION）披露將在第三季度記錄 5000 萬美元的減記，涉及其加州銀行信託部門持有的兩筆問題商業和工業貸款。</p>
<p>與此同時，<strong>Western Alliance Bancorp</strong>（NYSE:WAL）透露已對一名借款人提起訴訟，指控其欺詐。週四，這兩家銀行的股價均暴跌了兩位數，而更廣泛的地區銀行業遭遇自 4 月以來最嚴重的單日損失。</p>
<p>在這種不安中，摩根大通首席執行官 <strong>傑米·戴蒙</strong> 在財報電話會議上警告信貸風險上升，提到最近的破產事件，包括次級汽車貸款機構 Tricolor Holdings 和汽車零部件製造商 First Brands。“當你看到一隻蟑螂時，可能還有更多，” 戴蒙説。</p>
<h3>黃金飆升至歷史新高</h3>
<p>黃金繼續其不可阻擋的上漲，達到每盎司 4350 美元的新紀錄——自年初以來上漲超過 60%，標誌着自 1979 年以來的最佳表現。</p>
<p>黃金礦業股票飆升三位數，分析師表示這一漲勢可能仍處於早期階段。</p>
<h3>底特律汽車股在財報前找到喘息機會</h3>
<p>對於密歇根州的股票來説，本週以更光明的前景結束。<strong>通用汽車</strong>（NYSE:GM）、<strong>福特汽車</strong>（NYSE:F）和 <strong>斯特蘭蒂斯</strong>（NYSE:STLA）的股價從上週的損失中反彈，分別上漲約 6%、4.3% 和 6.2%，因改善的貿易和利率情緒提振了汽車行業。</p>
<p>下週，通用汽車和福特將分別在 10 月 21 日和 23 日公佈季度財報。</p>
<ul>
<li><strong>即將到來的罕見假日消費熱潮——但僅限於富人</strong></li>
</ul>
<p><em>圖像由人工智能通過 Midjourney 生成。</em></p>

高盛

摩根大通

<p>美聯儲主席傑羅姆·鮑威爾的鴿派言論和強勁的銀行業盈利推動了市場復甦，市場對降息的預期增強。摩根大通和高盛等主要銀行報告了超出預期的業績，但小型貸款機構如 Zions 和 Western Alliance 則面臨信用問題，引發擔憂。黃金價格飆升至創紀錄高位，而底特律汽車股在財報發佈前反彈。總體來看，市場在銀行業混合信號和上升的信用風險中經歷波動</p>

<p>After the shock of Friday, Oct. 10, when <strong>Donald Trump</strong> announced 100% tariffs on Chinese products, the president quickly softened his tone, assuring that trade relations &#34;will be fine.&#34;</p>
<div class="lb-trans"><p>在 10 月 10 日星期五，<strong>唐納德·特朗普</strong> 宣佈對中國商品徵收 100% 的關税後，市場受到震動，隨後總統迅速緩和了語氣，保證貿易關係 “會很好”。</p>
</div><p>That sweetener was well received by markets, helping Wall Street rebound early in the week.</p>
<div class="lb-trans"><p>這一甜頭受到市場的歡迎，幫助華爾街在本週初反彈。</p>
</div><h3>Powell's Dovish Tone Added Fuel To The Recovery</h3>
<div class="lb-trans"><h3>鮑威爾的鴿派言論為復甦增添動力</h3>
</div><p>The recovery was also fueled by stronger-than-expected bank earnings and by dovish remarks from Federal Reserve Chair <strong>Jerome Powell.</strong></p>
<div class="lb-trans"><p>復甦還受到強於預期的銀行盈利和美聯儲主席 <strong>傑羅姆·鮑威爾</strong> 的鴿派言論的推動。</p>
</div><p>Powell warned of mounting risks to employment, another indication that the central bank is likely to continue easing borrowing costs, bolstering bets on a rate cut later this month.</p>
<div class="lb-trans"><p>鮑威爾警告就業面臨日益增加的風險，這進一步表明中央銀行可能會繼續降低借貸成本，增強了本月晚些時候降息的預期。</p>
</div><h3>Big Banks Shine, But Cracks Emerge in Smaller Lenders</h3>
<div class="lb-trans"><h3>大型銀行表現亮眼，但小型貸款機構出現裂痕</h3>
</div><p>Major U.S. banks including <strong>JPMorgan Chase &amp; Co.</strong> (NYSE:JPM), <strong>Goldman Sachs Group Inc.</strong> (NYSE:GS), <strong>Bank of America Corp.</strong>(NYSE:BAC), <strong>Citigroup Inc.</strong> (NYSE:C), <strong>Wells Fargo &amp; Co.</strong> (NYSE:WFC) and <strong>Morgan Stanley</strong> (NYSE:MS) all beat analyst estimates, highlighting the resilience of the country's financial giants.</p>
<div class="lb-trans"><p>包括 <strong>摩根大通</strong>（NYSE:JPM）、<strong>高盛</strong>（NYSE:GS）、<strong>美國銀行</strong>（NYSE:BAC）、<strong>花旗集團</strong>（NYSE:C）、<strong>富國銀行</strong>（NYSE:WFC）和 <strong>摩根士丹利</strong>（NYSE:MS）在內的主要美國銀行均超出分析師預期，突顯了該國金融巨頭的韌性。</p>
</div><p>Yet cracks are beginning to show further down the ladder among smaller regional lenders.</p>
<div class="lb-trans"><p>然而，小型地區貸款機構的裂痕開始顯現。</p>
</div><h3>Credit Concerns Resurface With Zions And Western Alliance</h3>
<div class="lb-trans"><h3>信貸擔憂在 Zions 和 Western Alliance 中重新浮現</h3>
</div><p>Markets were reminded of that fragility on Thursday, when a new wave of volatility hit the sector as several regional banks flagged credit problems. <strong>Zions Bancorporation</strong> (NASDAQ:ZION) disclosed it would record a $50 million charge-off in the third quarter, tied to two troubled commercial and industrial loans held by its California Bank &amp; Trust unit.</p>
<div class="lb-trans"><p>週四，市場被提醒了這種脆弱性，當時一波新的波動襲擊了該行業，幾家地區銀行警告信貸問題。<strong>Zions Bancorporation</strong>（NASDAQ:ZION）披露將在第三季度記錄 5000 萬美元的減記，涉及其加州銀行信託部門持有的兩筆問題商業和工業貸款。</p>
</div><p>Meanwhile, <strong>Western Alliance Bancorp</strong>(NYSE:WAL) revealed it had filed a lawsuit against a borrower alleging fraud. Shares of both banks plunged by double digits on Thursday, while the broader regional banking industry suffered its worst single-day loss since April.</p>
<div class="lb-trans"><p>與此同時，<strong>Western Alliance Bancorp</strong>（NYSE:WAL）透露已對一名借款人提起訴訟，指控其欺詐。週四，這兩家銀行的股價均暴跌了兩位數，而更廣泛的地區銀行業遭遇自 4 月以來最嚴重的單日損失。</p>
</div><p>Adding to the unease, JPMorgan CEO <strong>Jamie Dimon</strong> warned of rising credit risk during the earnings call, citing the recent bankruptcies of Tricolor Holdings, a subprime auto lender, and First Brands, an auto parts manufacturer. &#34;When you see one cockroach, there's probably more,&#34; Dimon said.</p>
<div class="lb-trans"><p>在這種不安中，摩根大通首席執行官 <strong>傑米·戴蒙</strong> 在財報電話會議上警告信貸風險上升，提到最近的破產事件，包括次級汽車貸款機構 Tricolor Holdings 和汽車零部件製造商 First Brands。“當你看到一隻蟑螂時，可能還有更多，” 戴蒙説。</p>
</div><h3>Gold Surges To All-Time Highs</h3>
<div class="lb-trans"><h3>黃金飆升至歷史新高</h3>
</div><p>Gold continued its unstoppable rally, reaching new record highs of $4,350 per ounce — up more than 60% since the start of the year, marking its strongest performance since 1979.</p>
<div class="lb-trans"><p>黃金繼續其不可阻擋的上漲，達到每盎司 4350 美元的新紀錄——自年初以來上漲超過 60%，標誌着自 1979 年以來的最佳表現。</p>
</div><p>Gold-mining stocks have soared by triple digits, and analysts suggest the rally may still be in its early stages.</p>
<div class="lb-trans"><p>黃金礦業股票飆升三位數，分析師表示這一漲勢可能仍處於早期階段。</p>
</div><h3>Detroit Auto Stocks Find Relief Ahead of Earnings</h3>
<div class="lb-trans"><h3>底特律汽車股在財報前找到喘息機會</h3>
</div><p>For Michigan-based stocks, the week ended on a brighter note. Shares of <strong>General Motors Co</strong>. (NYSE:GM), <strong>Ford Motor Co.</strong>(NYSE:F) and <strong>Stellantis N.V.</strong> (NYSE:STLA) rebounded from last week's losses, up around 6%, 4.3%, and 6.2%, respectively, as improved trade and interest-rate sentiment lifted the auto sector.</p>
<div class="lb-trans"><p>對於密歇根州的股票來説，本週以更光明的前景結束。<strong>通用汽車</strong>（NYSE:GM）、<strong>福特汽車</strong>（NYSE:F）和 <strong>斯特蘭蒂斯</strong>（NYSE:STLA）的股價從上週的損失中反彈，分別上漲約 6%、4.3% 和 6.2%，因改善的貿易和利率情緒提振了汽車行業。</p>
</div><p>Next week, GM and Ford will report quarterly earnings on Oct. 21 and 23, respectively.</p>
<div class="lb-trans"><p>下週，通用汽車和福特將分別在 10 月 21 日和 23 日公佈季度財報。</p>
</div><ul>
<li><strong>A Rare Holiday Spending Boom Is Coming—But Only For The Wealthy</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>即將到來的罕見假日消費熱潮——但僅限於富人</strong></li>
</ul>
</div><p><em>Image created using artificial intelligence via Midjourney.</em></p>
<div class="lb-trans"><p><em>圖像由人工智能通過 Midjourney 生成。</em></p>
</div>

Powell Hints At Rate Cut, Bank Credit Fears Emerge: This Week In Markets

- 特朗普宣佈對中國商品徵收 100% 關税後，市場迅速反彈。  
- 美聯儲主席鮑威爾的温和言論和強勁的銀行業績推動了復甦。  
- 黃金價格創下歷史新高，汽車股在改善的貿易和利率情緒中回升。

鮑威爾暗示可能降息，銀行信貸擔憂浮現：本週市場動態