2025年美股強勢開局

標準普爾 500 指數、道瓊工業指數和那斯達克指數在今年首個交易日開盤上漲

The U.S. stock market opened 2025 on a positive note, with major indexes showing strong early gains after a rough end to 2024. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all rose at the open on the first day of trading for the year, signaling optimism and a potential recovery following the market’s longest losing streak since September.

美國股市 2025 年開盤積極，主要股指在經歷了 2024 年的艱難收尾後，早盤表現強勁。以來，市場在經歷9 月以來最長的連續下跌後，顯示出樂觀情緒和潛在復甦的跡象。

The S&P 500 rose by 0.6%, while the Dow Jones Industrial Average saw a solid gain of 332 points, or 0.8%. The Nasdaq composite also jumped 0.7%, giving investors hope that the four-day losing streak that marked the end of 2024 was a temporary setback.

標準普爾 500 指數上漲 0.6%，而道瓊工業指數強勁上漲 332 點，即 0.8%。那斯達克指數也上漲 0.7%，讓投資人希望標誌著 2024 年結束的四天連跌只是暫時的挫折。

The resilience of the U.S. economy has been a key factor contributing to the market’s optimism. A recent report showed that fewer workers applied for unemployment benefits last week than economists had expected, providing a sign that the job market remains strong. Additionally, Treasury yields eased in the bond market, which further supported investor sentiment.

美國經濟的韌性是推動市場樂觀的關鍵因素。最近的一份報告顯示，上週申請失業救濟的人數少於經濟學家的預期，這表明就業市場仍然強勁。此外，債券市場國債殖利率回落，進一步支撐了投資者情緒。

While the U.S. stock market showed gains, global shares were more mixed, reflecting uncertainty in other regions. In Europe, France’s CAC 40 dropped by 0.5%, while Germany’s DAX index rose by 0.2%. The FTSE 100 in Britain remained virtually unchanged.

儘管美國股市上漲，但全球股市漲跌互現，反映出其他地區的不確定性。歐洲方面，法國CAC 40指數下跌0.5%，德國DAX指數上漲0.2%。英國富時 100 指數幾乎沒有變動。

Asian markets experienced more significant declines, with China’s Shanghai Composite index falling by 2.7% and Hong Kong’s Hang Seng dropping 2.2%. These losses were partly due to slower-than-expected economic growth in China, as indicated by the Caixin China Purchasing Managers Index, which showed a slower pace of expansion in December.

亞洲市場跌幅更為顯著，中國上證綜合指數下跌2.7%，香港恆生指數下跌2.2%。這些損失的部分原因是中國經濟成長低於預期，財新中國採購經理指數顯示 12 月擴張速度放緩。

Despite positive remarks from Chinese leader Xi Jinping about China’s economic recovery, the market sentiment remained cautious. Investors were hoping for more concrete actions to support the economy and revitalize the stock market.

儘管中國領導人習近平對中國經濟復甦發表正面言論，但市場情緒仍保持謹慎。投資人希望採取更多具體行動來支持經濟並重振股市。

As U.S. investors turn their attention to 2025, they are keeping a close eye on the potential policies of President-elect Donald Trump. Concerns have emerged that Trump may raise tariffs on imports from China and other Asian nations, which could stoke inflation and lead to higher costs for consumers and businesses alike.

隨著美國投資者將注意力轉向2025年，他們正在密切關注當選總統川普的潛在政策。人們擔心川普可能會對來自中國和其他亞洲國家的進口產品提高關稅，這可能會引發通貨膨脹並導致消費者和企業的成本上升。

Although the Federal Reserve has taken a more cautious stance following three interest rate cuts in 2024, inflation remains a key issue, and any potential tariff hikes could reignite inflationary pressures. These uncertainties are contributing to investor caution, but so far, the U.S. stock market appears to be resilient.

儘管聯準會在2024年三次降息後採取了更加謹慎的立場，但通膨仍然是一個關鍵問題，任何潛在的關稅上調都可能重新引發通膨壓力。這些不確定性導致投資者保持謹慎，但到目前為止，美國股市似乎具有彈性。

In the energy sector, U.S. crude oil prices rose by 26 cents to $71.98 per barrel, while Brent crude, the international standard, added 28 cents to $74.85 per barrel. These slight increases suggest stability in the global oil market, despite some volatility in other sectors.

能源板塊，美國原油價格上漲26美分，至每桶71.98美元，國際標準布蘭特原油價格上漲28美分，每桶74.85美元。儘管其他行業出現一些波動，但這些小幅增長表明全球石油市場穩定。

Currency markets saw the U.S. dollar slip slightly against the Japanese yen, falling from 157.24 yen to 156.79 yen. The euro also experienced a slight increase, costing $1.0368 compared to $1.0359 the previous day.

貨幣市場美元兌日圓小幅下滑，從157.24日圓跌至156.79日圓。歐元也小幅上漲，從前一天的 1.0359 美元上漲至 1.0368 美元。

Looking ahead, investors are awaiting key economic data, including U.S. construction spending for November and manufacturing numbers for December, both of which could give additional insight into the strength of the economy. While some sectors of the market, such as AI stocks, continue to see strong growth, there are still significant risks, including the ongoing uncertainty surrounding tariffs and inflation.

展望未來，投資人正在等待關鍵經濟數據，包括美國 11 月的建築支出和 12 月的製造業數據，這兩項數據都可以讓人們進一步了解經濟實力。儘管人工智慧股票等市場的某些領域繼續強勁增長，但仍存在重大風險，包括圍繞關稅和通膨的持續不確定性。

As 2025 unfolds, all eyes will be on the potential actions of the new U.S. administration and the global economic landscape. Wall Street’s performance in the coming months will depend on how effectively these challenges are addressed and how resilient the U.S. economy proves to be in the face of shifting geopolitical and economic conditions.

隨著2025年的到來，所有人的目光都將集中在美國新政府的潛在行動和全球經濟格局。華爾街未來幾個月的表現將取決於如何有效應對這些挑戰，以及美國經濟面對不斷變化的地緣政治和經濟狀況的彈性。