作(zuo)者：霍華德·斯韋爾(er)布(bu)拉特(te)

本周，標準普爾500指數收于5303.27點(dian)，比上周收盤的(de)5222.68點(dian)上漲(zhang)1.54%，比上周收盤的(de)5127.79點(dian)上漲(zhang)1.85%。年(nian)(nian)初(chu)至今，股市(shi)上漲(zhang)了11.18%。自2020年(nian)(nian)3月(yue)23日(ri)的(de)低(di)點(dian)以來(lai)，市(shi)場(chang)上漲(zhang)了137.03%，自2020年(nian)(nian)2月(yue)19日(ri)的(de)高點(dian)以來(lai)，市(shi)場(chang)上漲(zhang)了56.62%。行(xing)(xing)(xing)業(ye)差(cha)異(yi)（最(zui)佳行(xing)(xing)(xing)業(ye)與最(zui)差(cha)行(xing)(xing)(xing)業(ye)）下(xia)降。

標普500指數覆蓋的11個(ge)行業板塊中有9個(ge)在本(ben)周(zhou)(zhou)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)，而(er)上(shang)(shang)(shang)周(zhou)(zhou)11個(ge)行業均上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)，再前(qian)一周(zhou)(zhou)11個(ge)行業中有7個(ge)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)。信(xin)息(xi)技術股(gu)表現最好(hao)，上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)2.90%，本(ben)月迄今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)7.88%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)14.72%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)27.55%。房(fang)地(di)產上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)2.53%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)下跌3.51%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)下跌25.25%。通信(xin)服務(wu)股(gu)本(ben)周(zhou)(zhou)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)1.70%（年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)20.85%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)11.14%），公用事業股(gu)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)1.24%（13.65%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)0.59%）。必需消(xiao)費品上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)0.74%（年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)9.46%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)3.71%），而(er)非必需消(xiao)費品下跌0.06%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)2.60%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)下跌9.67%。金(jin)融類(lei)股(gu)本(ben)周(zhou)(zhou)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)1.37%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)12.53%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)8.43%。能源股(gu)本(ben)周(zhou)(zhou)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)0.73%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)12.75%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)70.71%。工(gong)業股(gu)表現最差，本(ben)周(zhou)(zhou)下跌0.36%，年(nian)(nian)(nian)(nian)初(chu)至(zhi)今(jin)(jin)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)9.77%，較(jiao)(jiao)2021年(nian)(nian)(nian)(nian)收(shou)(shou)(shou)盤(pan)上(shang)(shang)(shang)漲(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)(zhang)18.33%。

在經(jing)濟方面，4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)PPI為(wei)(wei)(wei)(wei)(wei)0.5%，原本預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)0.3%，但(dan)3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)的(de)(de)數據從最(zui)初(chu)(chu)公布的(de)(de)0.2%降至-0.1%，同(tong)(tong)比(bi)(bi)(bi)增(zeng)(zeng)(zeng)長率為(wei)(wei)(wei)(wei)(wei)2.2%，高(gao)于(yu)(yu)3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)重申的(de)(de)1.8%（最(zui)初(chu)(chu)報告(gao)(gao)為(wei)(wei)(wei)(wei)(wei)2.1%）。不包括食(shi)品(pin)和能(neng)源(yuan)的(de)(de)核心(xin)(xin)PPI增(zeng)(zeng)(zeng)長0.5%，而(er)此前(qian)預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)增(zeng)(zeng)(zeng)長0.2%，同(tong)(tong)比(bi)(bi)(bi)增(zeng)(zeng)(zeng)幅(fu)保持(chi)(chi)在2.4%不變(bian)。與預(yu)(yu)期(qi)(qi)一樣(yang)，4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)CPI上漲(zhang)0.3%，同(tong)(tong)比(bi)(bi)(bi)漲(zhang)幅(fu)為(wei)(wei)(wei)(wei)(wei)3.4%，低于(yu)(yu)3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)的(de)(de)3.5%。核心(xin)(xin)CPI（不包括食(shi)品(pin)和能(neng)源(yuan)）如預(yu)(yu)期(qi)(qi)一樣(yang)增(zeng)(zeng)(zeng)長0.3%，同(tong)(tong)比(bi)(bi)(bi)增(zeng)(zeng)(zeng)長率從上個月(yue)(yue)(yue)(yue)(yue)(yue)的(de)(de)3.8%降至3.6%。4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)零(ling)售額與3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)持(chi)(chi)平，3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)預(yu)(yu)計增(zeng)(zeng)(zeng)長0.4%。3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)企業(ye)庫(ku)存下(xia)降0.1%，而(er)此前(qian)預(yu)(yu)計企業(ye)庫(ku)存將持(chi)(chi)平。4月(yue)(yue)(yue)(yue)(yue)(yue)新屋開工數低于(yu)(yu)預(yu)(yu)期(qi)(qi)，為(wei)(wei)(wei)(wei)(wei)136萬套(tao)(tao)，預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)143.5萬套(tao)(tao)（3月(yue)(yue)(yue)(yue)(yue)(yue)為(wei)(wei)(wei)(wei)(wei)128.7萬套(tao)(tao)）。4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)許可為(wei)(wei)(wei)(wei)(wei)144.4萬套(tao)(tao)，預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)148.8萬套(tao)(tao)(3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)為(wei)(wei)(wei)(wei)(wei)148.5萬套(tao)(tao))。4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)進口價(jia)格(ge)同(tong)(tong)比(bi)(bi)(bi)上漲(zhang)0.9%，高(gao)于(yu)(yu)3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)的(de)(de)0.6%，較上年同(tong)(tong)期(qi)(qi)上漲(zhang)1.1%，而(er)此前(qian)的(de)(de)預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)0.2%。出(chu)口價(jia)格(ge)增(zeng)(zeng)(zeng)長0.5%，而(er)預(yu)(yu)期(qi)(qi)為(wei)(wei)(wei)(wei)(wei)增(zeng)(zeng)(zeng)長0.2%，同(tong)(tong)比(bi)(bi)(bi)增(zeng)(zeng)(zeng)幅(fu)為(wei)(wei)(wei)(wei)(wei)-1.0%，高(gao)于(yu)(yu)3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)的(de)(de)-1.6%。4月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)工業(ye)生產持(chi)(chi)平，預(yu)(yu)期(qi)(qi)增(zeng)(zeng)(zeng)長0.1%（3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)增(zeng)(zeng)(zeng)長0.4%），而(er)產能(neng)利用率為(wei)(wei)(wei)(wei)(wei)78.4，3月(yue)(yue)(yue)(yue)(yue)(yue)份(fen)(fen)(fen)(fen)(fen)(fen)從最(zui)初(chu)(chu)報告(gao)(gao)的(de)(de)78.4重估為(wei)(wei)(wei)(wei)(wei)78.5。

2024年一季報披露(lu)期(qi)，美股發行了(le)462只(zhi)新股，其中(zhong)352只(zhi)（76.2%）超出(chu)預(yu)(yu)期(qi)，459只(zhi)新股中(zhong)有(you)265只(zhi)（57.7%）超出(chu)預(yu)(yu)期(qi)。總體而言(yan)，預(yu)(yu)計2024年第一季度的收(shou)益(yi)將(jiang)比2023年第四(si)季度增長2.4%（同比增長5.1%）。企(qi)業(ye)盈利表現不錯，但前瞻指引未能(neng)達到(dao)預(yu)(yu)期(qi)，對今年剩余時(shi)間的預(yu)(yu)期(qi)維持在原(yuan)有(you)水平。由于市場仍預(yu)(yu)期(qi)美聯儲9月份將(jiang)加息，該指數本周累計上漲1.54%，年初至(zhi)今累計上漲11.18%。

經濟數(shu)(shu)據(ju)(ju)方面，下(xia)(xia)周(zhou)三(san)將公布每(mei)周(zhou)抵押貸款(kuan)申請(qing)報(bao)(bao)告，美東時間周(zhou)三(san)上(shang)午10點將公布成屋銷售數(shu)(shu)據(ju)(ju)，每(mei)周(zhou)EIA石油報(bao)(bao)告也將于同一時間發布。周(zhou)四上(shang)午10點將公布耐用品訂單數(shu)(shu)據(ju)(ju)，下(xia)(xia)午2點的聯邦公開市(shi)場委(wei)員會會議(yi)紀要(yao)將公布每(mei)周(zhou)新失業申請(qing)報(bao)(bao)告。周(zhou)五(wu)上(shang)午10點將公布消(xiao)費者信(xin)心指(zhi)數(shu)(shu)。

（作者系標普道(dao)瓊斯指(zhi)數公(gong)司資深(shen)指(zhi)數分析師(shi) 劉英杰(jie)編(bian)譯）