{"id":45132,"date":"2026-04-16T09:31:17","date_gmt":"2026-04-16T09:31:17","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/45132\/"},"modified":"2026-04-16T09:31:17","modified_gmt":"2026-04-16T09:31:17","slug":"%e7%ac%ac%e4%b8%80%e5%ad%a3%e6%a5%ad%e7%b8%be%e6%9c%9f%e5%bc%b7%e5%8b%a2%e5%b1%95%e9%96%8b%e3%80%80%e9%87%8d%e9%bb%9e%e6%95%b4%e7%90%86%e5%87%b8%e9%a1%af%e4%bc%81%e6%a5%ad%e6%97%a9%e6%9c%9f%e8%a1%a8","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/45132\/","title":{"rendered":"\u7b2c\u4e00\u5b63\u696d\u7e3e\u671f\u5f37\u52e2\u5c55\u958b\u3000\u91cd\u9ede\u6574\u7406\u51f8\u986f\u4f01\u696d\u65e9\u671f\u8868\u73fe\u8da8\u52e2"},"content":{"rendered":"

\u9996\u62792026\u5e74\u7b2c\u4e00\u5b63\uff08Q1\uff09\u696d\u7e3e\u986f\u793a\uff0c\u6a19\u666e500\u6307\u6578\uff08S&P 500\uff09\u6210\u4efd\u80a1\u666e\u904d\u512a\u65bc\u5e02\u5834\u9810\u6e2c\uff1b\u5373\u4f7f\u80fd\u6e90\u6210\u672c\u4e0a\u5347\u53ca\u5176\u4ed6\u98a8\u96aa\u5b58\u5728\uff0c\u6536\u5165\u8d85\u9810\u671f\u8868\u73fe\u4ecd\u5f37\u52c1\u3002\u81f3\u4eca\u5df2\u670932\u9593S&P 500\u516c\u53f8\u516c\u5e03\u696d\u7e3e\u3002<\/p>\n

\u901932\u9593\u516c\u53f8\u5408\u8a08\u76c8\u5229\u6309\u5e74\u5347+30.5%\uff0c\u6536\u5165\u6309\u5e74\u5347+13.2%\u3002\u5176\u4e2d\uff0c78.1%\u6bcf\u80a1\u76c8\u5229\uff08EPS\uff0c\u5373\u516c\u53f8\u7e3d\u76c8\u5229\u9664\u4ee5\u5df2\u767c\u884c\u80a1\u4efd\u6578\uff0c\u5e38\u7528\u4f86\u8861\u91cf\u516c\u53f8\u76c8\u5229\u80fd\u529b\uff09\u9ad8\u65bc\u5e02\u5834\u9810\u6e2c\uff0c84.4%\u6536\u5165\u9ad8\u65bc\u5e02\u5834\u9810\u6e2c\u3002<\/p>\n

Early Season Earnings Strength<\/h3>\n

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\u6574\u9ad4Q1\u800c\u8a00\uff0c\u7d9c\u5408\u5df2\u516c\u5e03\u6578\u64da\u53ca\u5e02\u5834\u9810\u6e2c\uff08estimates\uff09\uff0cS&P 500\u76c8\u5229\u9810\u8a08\u5347+13.9%\uff0c\u6536\u5165\u9810\u8a08\u5347+9.5%\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c2025\u5e74\u7b2c\u56db\u5b63\uff08Q4\uff09\u76c8\u5229\u589e\u9577\u70ba+14.1%\uff0c\u6536\u5165\u589e\u9577\u70ba+9.1%\u3002<\/p>\n

\u6469\u6839\u5927\u901a\uff08JPMorgan\uff09\u76c8\u5229\u5347+12.6%\uff0c\u6536\u5165\u5347+10%\uff1b\u6de8\u5229\u606f\u6536\u5165\uff08net interest income\uff0c\u5373\u9280\u884c\u300c\u8cb8\u6b3e\u6536\u606f\u300d\u6e1b\u53bb\u300c\u5b58\u6b3e\u53ca\u878d\u8cc7\u4ed8\u606f\u300d\u5f8c\u7684\u5dee\u984d\uff0c\u662f\u9280\u884c\u6838\u5fc3\u6536\u76ca\u4f86\u6e90\uff09\u5347+9%\uff0c\u8cb8\u6b3e\uff08loans\uff09\u589e\u9577+11%\u3002\u5bcc\u570b\u9280\u884c\uff08Wells Fargo\uff09\u76c8\u5229\u5347+14.6%\uff0c\u6536\u5165\u5347+6.4%\uff1b\u6de8\u5229\u606f\u6536\u5165\u5347+5%\uff0c\u8cb8\u6b3e\u5347+11%\u3002<\/p>\n

Zacks\u6295\u8cc7\u9280\u884c\/\u8cc7\u7522\u7ba1\u7406\uff08Investment Banks\/Managers\uff0c\u5373\u6295\u884c\u53ca\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\uff09\u884c\u696d\u9810\u8a08\u76c8\u5229\u589e\u9577+19.7%\uff0c\u6536\u5165\u5347+10.5%\u3002\u91d1\u878d\u677f\u584aQ1\u76c8\u5229\u9810\u8a08\u5347+26.7%\uff0c\u6536\u5165\u5347+9.8%\uff0c\u6b64\u524d\u70ba\u76c8\u5229+17.3%\u3001\u6536\u5165+7.4%\u3002<\/p>\n

Sector And Market Implications<\/h3>\n

\u91d1\u878d\u677f\u584a\u4f54S&P 500\u672a\u4f8612\u500b\u6708\u9810\u671f\u76c8\u5229\uff08forward 12-month earnings\uff0c\u5373\u5e02\u5834\u6309\u5206\u6790\u54e1\u9810\u6e2c\u63a8\u7b97\u7684\u672a\u4f86\u4e00\u5e74\u76c8\u5229\uff09\u7d0417.2%\u3002\u81ea3\u6708\u521d\u4ee5\u4f86\uff0c\u80fd\u6e90\uff08Energy\uff09\u76c8\u5229\u9810\u6e2c\u4e0a\u8abf\uff0c\u53e6\u67098\u500b\u677f\u584a\u7684\u9810\u6e2c\u4ea6\u4e0a\u8abf\u3002<\/p>\n

\u7f8e\u570b\u7d93\u6fdf\u4f3c\u4e4e\u6b63\u6d88\u5316\u8f03\u9ad8\u80fd\u6e90\u6210\u672c\uff1b\u897f\u5fb7\u5dde\u4e2d\u8cea\u539f\u6cb9\uff08WTI crude\uff0c\u7f8e\u570b\u539f\u6cb9\u57fa\u6e96\u50f9\u683c\uff09\u73fe\u6642\u5728\u6bcf\u687695\u7f8e\u5143\u4ee5\u4e0a\uff0c\u8f03\u5e74\u521d\u660e\u986f\u4e0a\u5347\u30022026\u5e743\u6708\u6700\u65b0\u5931\u696d\u7387\u7dad\u6301\u57283.6%\u7684\u4f4e\u4f4d\uff0c\u53cd\u6620\u6d88\u8cbb\u53ca\u4f01\u696d\u9700\u6c42\u4ecd\u5177\u97cc\u6027\uff08resilient\uff0c\u5373\u627f\u53d7\u58d3\u529b\u5f8c\u4ecd\u80fd\u4fdd\u6301\u7a69\u5b9a\uff09\u3002<\/p>\n

\u6ce2\u52d5\u7387\u6307\u6578VIX\uff08\u8861\u91cf\u5e02\u5834\u6050\u614c\u7a0b\u5ea6\u7684\u6307\u6a19\uff0c\u6578\u503c\u6108\u9ad8\u4ee3\u8868\u5e02\u5834\u6108\u6ce2\u52d5\uff09\u5df2\u75313\u6708\u9ad8\u4f4d\u56de\u843d\u81f3\u7d0416\uff0c\u986f\u793a\u5e02\u5834\u5c0d\u77ed\u671f\u5927\u8dcc\u7684\u6182\u616e\u964d\u6eab\u3002\u5728\u8f03\u4f4e\u6ce2\u52d5\u74b0\u5883\u4e0b\uff0c\u8ce3\u51fa\u73fe\u91d1\u64d4\u4fdd\u6cbd\u51fa\u671f\u6b0a\uff08cash-secured puts\uff0c\u5373\u6295\u8cc7\u8005\u6536\u53d6\u671f\u6b0a\u91d1\uff0c\u540c\u6642\u9810\u7559\u8db3\u5920\u73fe\u91d1\u5728\u6307\u5b9a\u50f9\u683c\u63a5\u8ca8\uff09\u7b49\u7b56\u7565\u7684\u98a8\u96aa\u56de\u5831\u66f4\u5438\u5f15\u3002<\/p>\n

\u91d1\u878d\u677f\u584a\u8868\u73fe\u9818\u5148\uff0c\u6469\u6839\u5927\u901a\u8cb8\u6b3e\u589e\u9577\u7a81\u51fa\uff0c\u591a\u6578\u9280\u884c\u76c8\u5229\u9ad8\u65bc\u9810\u671f\u3002\u56de\u98672025\u5e74\uff0c\u91d1\u878d\u677f\u584a\u8868\u73fe\u5e73\u7a69\u4f46\u4e0d\u7b97\u4eae\u773c\uff0c\u73fe\u6642\u8f49\u5f37\u6216\u53cd\u6620\u8cc7\u91d1\u56de\u88dc\uff08catch-up trade\uff0c\u5373\u6b64\u524d\u843d\u5f8c\u7684\u677f\u584a\u88ab\u8cc7\u91d1\u8ffd\u843d\u5f8c\uff09\u3002\u96a8\u7740\u672a\u4f86\u6578\u5468\u66f4\u591a\u9280\u884c\u516c\u5e03\u696d\u7e3e\uff0c\u91d1\u878dETF\uff08\u4ea4\u6613\u6240\u8cb7\u8ce3\u57fa\u91d1\uff0c\u5373\u5728\u4ea4\u6613\u6240\u8cb7\u8ce3\u3001\u8ffd\u8e64\u4e00\u7c43\u5b50\u8cc7\u7522\u7684\u57fa\u91d1\uff09\u6216\u51fa\u73fe\u66f4\u591a\u770b\u5347\u6a5f\u6703\u3002<\/p>\n

\u66f4\u503c\u5f97\u7559\u610f\u7684\u662f\uff0c\u5373\u4f7f\u5730\u7de3\u653f\u6cbb\u5c40\u52e2\u672a\u660e\uff0c\u5206\u6790\u54e1\u4ecd\u5728\u591a\u6578\u677f\u584a\u4e0a\u8abf2026\u5e74\u5168\u5e74\u76c8\u5229\u9810\u6e2c\uff0c\u53cd\u6620\u57fa\u672c\u9762\uff08fundamentals\uff0c\u5373\u4f01\u696d\u76c8\u5229\u53ca\u7d93\u71df\u72c0\u6cc1\u7b49\u6838\u5fc3\u56e0\u7d20\uff09\u4ecd\u5f37\uff0c\u4f01\u696d\u52d5\u529b\uff08momentum\uff0c\u5373\u696d\u7e3e\u53ca\u7d93\u71df\u6539\u5584\u7684\u5ef6\u7e8c\u6027\uff09\u504f\u6b63\u9762\u3002<\/p>\n

\u5efa\u7acb\u4f60\u7684VT Markets\u771f\u5be6\u5e33\u6236<\/a>\u00a0\u4e26\u00a0\u7acb\u5373\u958b\u59cb\u4ea4\u6613<\/a>\u3002 <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

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