美联储古尔斯比：美联储目前不存在就业问题，但确实面临通胀问题。

China Merchants Securities says the Fed’s expected 25bp hike and relatively hawkish dot plot (implying one more hike this year) are a realized negative shock, leaving few major macro variables to drive markets short term and prompting a return to sector-level pricing. China’s August data show marginal production recovery, weak aggregate demand and divergence between old and new growth drivers; aggregate weakness is largely priced while structural strength is concentrated in tech and exports. Continued US–Iran tension alongside increased diplomacy has eased oil from recent highs, marginally reducing geopolitical risk. As macro pressure eases and prior crowding is digested, funds are rotating back to tech — TMT’s share of mainland turnover rose to 43% this week — and earnings-supported large-cap tech look set for catch-up gains; monitor AI compute chain, CPO industry chain, resource-price beneficiaries and export-linked names.

重要新闻 1. 中共中央政治局召开会议，讨论拟提请二十届五中全会审议的文件。 2. 国家粮食和物资储备局回应厄尔尼诺影响：我国粮食生产稳定性比较强。 3. 产业链人士：特斯拉机器人团队在长三角审厂，多家企业已获订单。 4. 海南推进航天旅游平台组建 相关经营主体已签订合作协议。 个股新闻 1. 主力资金流向数据显示，胜宏科技主力资金净流入17.59亿元居首位，新易盛、中际旭创、中材科技、海光信息获主力资金净流入居前；华天科技主力资金净流出13.21亿元居首位，天孚通信、C沈鼓、长电科技、东山精密主力资金净流出居前。 2. 新易盛：1.6T光模块产品已进入持续放量阶段，预计出货节奏将持续加速。 3. 晶泰科技：科学智能体平台XtalPi Science完成重要产品升级。 4. 数据港与华为昇腾910C超节点正式点亮。 5. 酒鬼酒：内参酒挺价政策达到预期。 6. 温氏股份：初步预计春节前后猪价有望迎来盘整拐点。 7. 卓锦股份：三、四季度盈利情况将会较一、二季度有所修复。