美國企業股票供給正在明顯增加。美聯儲金融賬戶數據經整理後顯示，2026年第二季度，美國非金融企業淨股票發行額升至約1520億美元，爲圖表自1990年代末以來最高水平；第一季度約爲454億美元，而2025年第二季度爲淨回購約977億美元。一年間，淨髮行規模擺動約2500億美元。第二季度企業股票發行總額約5020億美元，扣除約2160億美元股票回購及約1340億美元併購導致的股權註銷後，淨髮行約1520億美元。過去近二十年，回購註銷通常超過新發行，持續減少市場股票供給；如今，融資發行與併購活動正在改變這一格局。若淨髮行持續處於高位，企業回購對每股盈利和股價的支撐可能減弱，新增股票供給也將成爲美股資金供需的重要變量。

Previous: +3.0%; market preview: +3.1%. Forecasts — +3.0%: BERENBERG, UniCredit, ABN AMRO Bank. +3.1%: Bank of Montreal (BMO), BNP Paribas, BofA, Barclays, Capital Economics, Citigroup, Fifth Third Bank, Goldman Sachs, HSBC, JP Morgan, Nomura, Lloyds, Morgan Stanley, Societe Generale, Standard Chartered, Stifel, TD Securities, UBS, Wells Fargo. +3.2%: Jefferies. +3.5%: High Frequency Economics.

At its Q3 2026 results briefing, Fuchuang Precision said AI-driven new market demand, rising domestic semiconductor-equipment localization and continued wafer-fab capacity expansion have rapidly released industry demand and lifted order sizes at leading equipment vendors. Through the first three quarters the company said the downstream demand dividend has shown up in its business: earlier large-customer strategy and capacity buildup are being realized, order-to-revenue conversion efficiency has improved, and operating performance remains on an upward trend.