周四，美元指数稳定在104.2左右，投资者正在为个人消费支出价格指数报告做准备，该报告可能会对美联储即将出台的政策决定产生重大影响。市场也谨慎预期周五的非农就业数据和下周的美国总统大选。周三，ADP数据显示10月份私人就业激增，表明劳动力市场强劲。此外，美国经济在第三季度的年化增长率为2.8%，略低于预期的3%，但强劲的个人支出和销售数据表明消费者支出稳健。人们普遍预计，美联储在9月份更激进地降息50个基点后，下周将适度降息25个基点。美元兑其他主要货币仍接近数月高点，日元在日本持续的政策不确定性下尤其疲软。

The dollar index held steady around 104.2 on Thursday as investors prepared for the PCE price index report, which could significantly impact upcoming Federal Reserve policy decisions. Markets are also cautiously anticipating Friday's nonfarm payrolls data and next week's US presidential election. On Wednesday, ADP data indicated a surge in private employment for October, signaling a robust labor market. Additionally, the US economy grew at an annualized rate of 2.8% in Q3, slightly below the expected 3%, but strong personal expenditure and sales figures suggested solid consumer spending. The Fed is widely expected to implement a modest 25 basis point rate cut next week, following a more aggressive 50 bps reduction in September. The dollar remains near multi-month highs against other major currencies, with the yen particularly weak amid ongoing policy uncertainties in Japan.

周四，美国股指期货下跌，由于令人失望的企业盈利报告，大型科技股在盘后交易中暴跌。元平台在错过用户增长预期并警告2025年资本支出增加后下跌了3%以上。由于收入指导疲软，微软也出现了近4%的下降。在周三的常规交易中，道琼斯指数下跌0.22%，标准普尔500指数下跌0.33%，纳斯达克综合指数下跌0.56%。半导体股受到的打击尤其严重，AMD因收入预测不佳而暴跌10.6%，而SMCI在审计师突然辞职后经历了惊人的32.7%的下跌，这是六年多来最糟糕的表现。英伟达也下跌了1.3%。在经济方面，第三季度GDP增长放缓至2.8%，略低于预期，而强劲的就业数据抑制了人们对美联储可能降息的预期。投资者现在将注意力转向定于周四公布的更多数据和收益。

US stock futures declined on Thursday as megacap technology names tumbled in after-hours trading on disappointing corporate earnings reports. Meta Platforms dropped over 3% after missing user growth expectations and warning of increased capital expenditures in 2025. Microsoft also saw a nearly 4% decline due to weak revenue guidance. In regular trading on Wednesday, the Dow dipped 0.22%, the S&P 500 lost 0.33%, and the Nasdaq Composite fell 0.56%. Semiconductor stocks were particularly hard-hit, with AMD plunging 10.6% on lackluster revenue projections, while SMCI experienced a staggering 32.7% drop—its worst performance in over six years—following the sudden resignation of its auditor. Nvidia also fell 1.3%. On the economic front, GDP growth slowed to an annualized 2.8% in Q3, slightly below estimates, while robust jobs data dampened expectations for potential rate cuts by the Fed. Investors are now turning their attention to more data and earnings releases scheduled for Thursday.

美国股市周三收跌，因投资者在经济降温的迹象下处理了另一轮企业盈利，并等待大型科技公司的业绩。标准普尔500指数和纳斯达克100指数分别下跌0.3%和0.6%，道琼斯指数下跌91点。芯片制造商面临压力，英伟达下跌0.9%，AMD因业绩不佳下跌10.6%，超级微型计算机在审计师突然辞职后下跌32.7%，这是六年多来最糟糕的一天。与此同时，Alphabet（+2.8%）凭借强劲的云增长提振了市场情绪，在Meta（+0.2%）、微软（+0.1%）、苹果（-1.5%）和亚马逊（+1%）的业绩公布之前提振了乐观情绪。经济数据显示，第三季度GDP增长放缓至2.8%，略低于预期，而强劲的劳动力市场抑制了美联储降息的希望，随着更多关键收益报告的临近，投资者持谨慎态度。

U.S. stocks closed lower on Wednesday as investors processed another round of corporate earnings and awaited results from Big Tech amid signs of a cooling economy. The S&P 500 and Nasdaq 100 slipped 0.3% and 0.6%, respectively, while the Dow lost 91 points. Chipmakers faced pressure, with Nvidia down 0.9%, AMD dropping 10.6% on weak guidance, and Super Micro Computer tumbling 32.7%—its worst day in over six years—after its auditor’s sudden resignation. Meanwhile, Alphabet (+2.8%) boosted sentiment with strong cloud growth, fueling optimism ahead of results from Meta (+0.2%), Microsoft (+0.1%), Apple (-1.5%), and Amazon (+1%). Economic data revealed GDP growth slowed to an annualized 2.8% in Q3, slightly below estimates, while a strong labor market dampened hopes for Fed rate cuts, leaving investors wary as more key earnings reports approach.

周三下午，美国三大股指均徘徊在持平线附近，尽管有经济增长放缓的迹象，但Alphabet令人印象深刻的盈利助长了人们对大型科技公司的乐观情绪。标准普尔500指数和纳斯达克指数小幅下跌，道琼斯指数基本持平。Alphabet（+4.2%）的云增长在Meta（+0.2%）、微软（+0.6%）和亚马逊（+1.4%）的业绩之前引发了乐观情绪。然而，芯片制造商却举步维艰，AMD因收入指导不佳而下跌超过10%，而Super Micro Computer在审计师意外辞职后暴跌超过32%。经济数据显示，第三季度GDP增长放缓至2.8%，低于预期，同时劳动力市场强劲，削弱了美联储降息的希望，并使投资者在更多关键收益报告临近时感到不安。

All three major US indexes hovered near the flat line Wednesday afternoon, with Alphabet’s impressive earnings fueling optimism for Big Tech despite signs of slowing economic growth. The S&P 500 and Nasdaq dipped slightly and the Dow was reading about the flat line. Alphabet’s (+4.2%) cloud growth fueled optimism ahead of Meta (+0.2%), Microsoft (+0.6%) and Amazon’s (+1.4%) results. However, chipmakers struggled, with AMD dropping over 10% on underwhelming revenue guidance, while Super Micro Computer plunged over 32% following its auditor’s unexpected resignation. Economic data showed that GDP growth slowed to an annualized 2.8% in Q3, below forecasts, alongside a robust labor market, tempering Fed rate cut hopes and keeping investors on edge as more key earnings reports approach.