Senda Resources said in a midday announcement that its controlled subsidiary Sichuan Honglin Mining Co., Ltd. had the Caiyuanzi Copper-Gold Mine mining-area engineering inspected on site by the Sichuan Provincial Emergency Management Department, which organized relevant units and experts, and recently received a Safety Production Permit issued by that department. With the permit, Honglin Mining may commence mining operations in the Caiyuanzi mining area, and underground workings will enter full-

澳大利亞第一季度私人新增資本支出年率 14.6%，前值7.8%。

Ed Yardeni, senior market strategist at Yardeni Research, dismissed concerns that US stocks are in a bubble, saying the current rebound is driven by "Fabulous Earnings Momentum" (FEMO) rather than speculation. He said if the US economy can avoid a recession over the next few years, the S&P 500's current forward P/E of about 20–22x looks reasonable. Yardeni coined the term FEMO to distinguish the present advance from "FOMO" (fear of missing out), which he described as hope- and speculation-driven rather than fundamentals-driven. He conceded that outsized recent gains in some semiconductor names give the market a "melt-up" feel. Under a "roaring 2020s" scenario, he expects the S&P 500 could reach 10,000 before 2030, implying roughly a 33% rise from current levels. Year-to-date he has observed only one notable sell-off, in March, and he said another similar sell-off is unlikely before year-end. His FEMO thesis also underpins his 2026 S&P 500 target of 8,250, which ranks highest among analysts tracked by Bloomberg.