500美元上涨至5312.00点的历史最高点。过去4周，美国股市指数（US500）上涨5.75%，过去12个月上涨27.7%。

US500 increased to an all-time high of 5312.00 Index Points. Over the past 4 weeks, United States Stock Market Index (US500) gained 5.75%, and in the last 12 months, it increased 27.7%.

受能源板块上涨的提振，标准普尔/多伦多证券交易所综合指数周四小幅突破平线，达到22300点，而与基本金属相关的股票对该指数施加了下行压力。昨日公布的美国库存下降提振了能源行业，使该行业平均上涨0.4%，森科尔以超过0.7%的涨幅领涨。此外，加拿大鹅的股价在季度收入超过市场预期后飙升16%，这得益于中国对其高端羽绒服需求的强劲复苏。相反，Boyd Services在昨日收盘后公布业绩后大幅下跌6.4%，紧随其后的是WSP Global下跌4.6%，限制了该指数的涨幅。

The S&P/TSX Composite index edged above the flatline, reaching the 22,300 mark on Thursday, buoyed by gains in the energy sector, while equities linked to base metals exerted downward pressure on the index. The energy sector received a boost from lower inventories in the US reported yesterday, lifting the sector by an average of 0.4%, with Suncor leading the gains with an increase of over 0.7%. Additionally, Canada Goose shares surged by 16% after exceeding market expectations for quarterly revenue, supported by a strong recovery in demand for its high-end puffer jackets in China. Conversely, Boyd Services saw significant losses of 6.4% after reporting results yesterday after the bell, followed by WSP Global down 4.6%, limiting gains for the index.

美国股市周四在平线附近波动，前一天强劲上涨，三大股指创下历史新高。交易员们消化了喜忧参半的经济数据，包括首次申请失业救济人数下降、进出口价格高于预期、令人失望的住房开工和建筑许可以及工业生产停滞。与此同时，纽约联邦银行行长威廉姆斯表示，他仍需要更多证据来调整利率。在盈利方面，迪尔公司下调全年盈利预期后，其股价下跌超过2%。思科股价也下跌（-1.7%），尽管季度业绩乐观。另一方面，沃尔玛股价上涨6.6%，此前其业绩超过分析师预期。与此同时，表情包股票GameStop（-17.7%）和AMC娱乐（-10%）连续第二天下跌。在大型股中，微软、苹果、英伟达、亚马逊和Alphabet均上涨约0.5%。

US stocks swung around the flatline on Thursday, following strong gains the day before that sent the three major averages to record levels. Traders digest mixed economic data, including a fall in initial jobless claims, higher-than-expected import and export prices, disappointing housing starts and building permits and a stall in industrial production. At the same time, Fed Bank of New York President Williams said he still needs more evidence to adjust interest rates. On the earnings front, shares of Deere & Company fell more than 2% after the company cut its full-year earnings outlook. Cisco was also lower (-1.7%) despite upbeat quarterly results. Walmart on the other hand, rose 6.6% after its results topped analysts estimates. Meanwhile, meme-stocks GameStop (-17.7%) and AMC Entertainment (-10%) declined for a second day. Among megacaps, Microsoft, Apple, Nvidia, Amazon and Alphabet were all about 0.5% higher.

US30指数点升至39935.00点的历史最高点。过去4周，美国股市指数（US30）上涨5.78%，过去12个月上涨19.5%。

US30 increased to an all-time high of 39935.00 Index Points. Over the past 4 weeks, United States Stock Market Index (US30) gained 5.78%, and in the last 12 months, it increased 19.5%.

美元指数在上一交易日下跌0.8%后，周四小幅上涨至104.5，交易员消化了喜忧参半的经济数据。首次申请失业救济人数与预测大致一致，进出口价格涨幅超过预期，房屋开工和建筑许可证令人失望，工业生产意外停滞。与此同时，纽约联邦银行行长威廉姆斯表示，他仍需要更多证据来调整利率。昨天公布的数据显示，4月份价格压力有所放缓，而零售额持平且未能增长，这促使投资者加大了对美联储今年将削减借贷成本的押注。美元兑欧元、英镑、澳元和日元走高。

The dollar index strengthened slightly to 104.5 on Thursday, after falling 0.8% in the previous session, as traders digest mixed economic data. Initial jobless claims fell roughly in line with forecasts, import and export prices rose more than anticipated, housing starts and building permits disappointed and industrial production unexpectedly stalled. At the same time, Fed Bank of New York President Williams said he still needs more evidence to adjust interest rates. Data released yesterday showed price pressures slowed in April while retail sales flattened and failed to grow, which prompted investors to raise bets the Fed will in fact cut the borrowing cost this year. The dollar was higher against the euro, pound, Aussie and yen.

美国4月制造业产量较上月下降0.3%，未达到市场0.1%的增长预期。耐用制造业指数在4月份下降了0.5%，而非耐用制造业的指数小幅下降了0.1%，出版和伐木指数上升了0.3%。跌幅最大的是汽车和零部件、电气设备、电器和零部件以及木制品指数，分别下跌2.0%、1.9%和1.6%。主要金属（1.0%）、计算机和电子产品（0.6%）以及航空航天和杂项运输设备（0.9%）是唯一出现增长的群体。在非耐用产品中，石油和煤炭产品的产量下降了4.4%；其他非耐用类别有所上涨。4月份，制造业的产能利用率下降了0.3%，降至76.9%，比长期平均水平低1.3个百分点。

Manufacturing production in the US decreased 0.3% from a month earlier in April, missing market expectations of a 0.1% growth. The index for durable manufacturing declined 0.5% in April, while the index for nondurable manufacturing edged down 0.1%, and the index for publishing and logging rose 0.3%. The largest declines were in the indexes for motor vehicles and parts, for electrical equipment, appliances, and components, and for wood products, which fell 2.0%, 1.9%, and 1.6%, respectively. Primary metals (1.0%), computer and electronic products (0.6%), and aerospace and miscellaneous transportation equipment (0.9%) were the only groups that posted increases. Within nondurables, the output of petroleum and coal products dropped 4.4%; the other nondurable categories posted gains. Capacity utilization for manufacturing moved down 0.3%age point in April to 76.9%, a rate that is 1.3 percentage points below its long-run average.

2024年4月，美国的产能利用率从3月的78.5%小幅下降至78.4%，与市场估计一致。该比率目前比长期平均水平低1.2个百分点。制造业产能利用率下降0.3个百分点至76.9%，比长期平均水平低1.3个百分点。采矿业的开工率下降了0.6个百分点，至92.1%，而公用事业的开工率上升了1.8个百分点，达到71%。采矿率比长期平均水平高5.6个百分点，而公用事业率仍远低于长期平均水平。

Capacity utilization rate in the US edged down to 78.4% in April 2024 from an upwardly revised 78.5% in March, and in line with market estimates. The rate is now 1.2 percentage points below its long-run average. Capacity utilization for manufacturing moved down 0.3 percentage points to 76.9%, a rate that is 1.3 percentage points below its long-run average. The operating rate for mining fell 0.6 percentage points to 92.1%, while the operating rate for utilities increased 1.8 percentage points to 71%. The rate for mining was 5.6 percentage points above its long-run average, while the rate for utilities remained substantially below its long-run average.

继3月份增长0.1%，未达到市场预期的0.1%之后，美国4月份的工业生产几乎没有变化。占总产量78%的制造业产出下降0.3%，而市场预测增长0.1%。此外，采矿产量下降了0.6%，主要是因为煤炭开采指数下降了18.1%。另一方面，公用事业的产量增长了2.8%。4月份，产能利用率降至78.4%，比长期（1972年至2023年）平均水平低1.2个百分点。

Industrial production in the US was little changed in April, following a 0.1% increase in March and missing market expectations of a 0.1% growth. Manufacturing output, which makes up 78% of total production, decreased 0.3 percent, compared with market forecast of 0.1% increase. Also, mining output decreased 0.6 percent, largely because of an 18.1 percent decline in the index for coal mining. On the other hand, the output of utilities increased 2.8 percent. Capacity utilization moved down to 78.4 percent in April, a rate that is 1.2 percentage points below its long-run (1972–2023) average.

美国10年期国债收益率在5月份保持在3.35%以下，为一个多月来的最低水平，因为经济背景支持了美联储今年将降息50个基点的押注。首次申请失业救济人数高于预期，这与上周创下八个月新高后劳动力市场疲软的担忧以及4月份就业报告的疲软趋势一致。与此同时，建筑许可证下降幅度略高于预期，5月份的当地活动指标也未达到预期。这一结果使人们继续押注美联储将在9月的会议上开始降息，因为4月的通胀数据给人们带来了希望，即在第一季度CPI数据居高不下后，通货紧缩可能会重新开始。70%的市场现在已经为美联储在9月开始其宽松周期做好了准备，近65%的市场预计今年会有两次或两次以上的降息。

The yield on the US 10-year Treasury note held below 3.35% in May, the lowest in over one month, as the economic backdrop supported bets that the Fed will deliver 50bps in rate cuts this year. Initial jobless claims were above expectations, aligning with concerns of labor market weakening following last week’s eight-month high and the softening trend in April’s jobs report. In the meantime, building permits fell slightly more than expected, and local activity gauges for May also missed expectations. The result maintained bets for the Federal Reserve to start cutting rates in its September meeting, as April’s inflation print offered hope that disinflation may restart after stubbornly high CPI readings in the first quarter. 70% of the market is now positioned for the Fed to kick off its loosening cycle in September, and nearly 65% expect two or more cuts this year.

周四，美国股票期货在小幅上涨和下跌之间波动，前一天的强劲上涨使三大股指创下历史新高。交易员们消化了喜忧参半的经济数据，包括首次申请失业救济人数下降、进出口价格高于预期以及令人失望的住房开工和建筑许可证。与此同时，纽约联邦银行行长威廉姆斯表示，他仍需要更多证据来调整利率。在盈利方面，迪尔公司下调全年盈利预期后，其股价在盘前交易中下跌超过5%。另一方面，思科在季度业绩乐观后上涨2.7%。沃尔玛股价上涨4.5%，此前其业绩超过分析师预期。与此同时，表情包股票GameStop（-13.6%）和AMC（-11%）连续第二天下跌。在大型股中，微软和Alphabet的股价持平，而苹果（0.2%）、英伟达（0.7%）和亚马逊（0.2%）在开盘前上涨。

Stock futures in the US swung between small gains and losses on Thursday, following strong gains the day before that sent the three major averages to record levels. Traders digest mixed economic data, including a fall in initial jobless claims, higher-than-expected import and export prices and disappointing housing starts and building permits. At the same time, Fed Bank of New York President Williams said he still needs more evidence to adjust interest rates. On the earnings front, shares of Deere & Company fell more than 5% in premarket trading after the company cut its full-year earnings outlook. On the other hand, Cisco added 2.7% after upbeat quarterly results. Walmart rose 4.5% after its results topped analysts estimates. Meanwhile, meme-stocks GameStop (-13.6%) and AMC (-11%) declined for a second day. Among megacaps, Microsoft and Alphabet traded around the flatline while Apple (0.2%), Nvidia (0.7%) and Amazon (0.2%) booked gains before the opening bell.

2024年4月，美国进口价格环比上涨0.9%，为2022年3月以来的最大涨幅，较3月上调0.6%的涨幅有所加快，涨幅超过市场预测的0.3%。燃料进口价格上涨2.4%。与此同时，非燃料进口价格上涨0.7%，为2022年3月以来的最快涨幅，非燃料工业用品和材料成本上涨；食品、饲料和饮料；汽车；资本货物；消费品对经济好转起到了推波助澜的作用。食品、饲料和饮料的通货膨胀率上升至1.7%，因为面包、糖果和水果价格的上涨抵消了蔬菜价格的下跌。进口价格同比上涨1.1%。

Import prices in the US rose 0.9% month-over-month in April 2024, the most since March 2022, accelerating from an upwardly revised 0.6% gain in March and beating market forecasts for a 0.3% increase. Prices for fuel imports advanced by 2.4%. Meanwhile, nonfuel import prices rose 0.7%, the steepest pace since March 2022, with higher costs of nonfuel industrial supplies & materials; foods, feeds, & beverages; automotive vehicles; capital goods; and consumer goods contributing to the upturn. Foods, feeds, & beverages inflation picked up to 1.7%, as growing prices for bakery and confectionary products and fruit more than offset lower vegetable prices. Year-on-year, import prices increased by 1.1%.

2024年4月，美国出口价格较上月上涨0.5%，较上月下调后的0.1%有所加快，略高于市场预期的0.4%。这是出口价格连续第四次上涨，由于非农业工业用品和材料、资本品、汽车和消费品的成本增加，非农业出口增长0.7%。这足以抵消因其他动物饲料、水果和蔬菜价格下跌而导致的农产品出口价格下跌0.9%的影响。与前一年相比，出口价格下降了1%，这标志着连续15个月的年度下降。

Export prices in the US rose 0.5 percent from the previous month in April of 2024, accelerating from the downwardly revised 0.1 percent increase in the previous month, and slightly above market expectations of 0.4 percent. It was the fourth consecutive increase in export prices, carried by a 0.7 percent jump in non-agricultural exports amid increases in costs of non-agricultural industrial supplies and materials, capital goods, automotive vehicles, and consumer goods. This was enough to offset a 0.9 percent decline in prices of agricultural exports, due to lower prices for other animal feeds, fruits, and vegetables. From the previous year, export prices fell by 1 percent, marking 15 consecutive months of annual declines.

美国费城联储制造业指数仍为正，但从4月的两年高点15.5降至2024年5月的4.5，下降了11点，低于市场预期的8。新订单指数从12.2下降到-7.9，这是自2月份以来的首次负值，出货量指数从19.1下降到-1.2，这是1月份以来的第一次负值。尽管就业指标有所上升，但总的来说，这些公司的就业人数仍在下降。就业指数上升3点，至-7.9。在价格方面，这两个价格指数都表明价格总体上涨，但仍低于长期平均水平。展望未来，这些公司继续预计未来六个月的增长。

The Philadelphia Fed Manufacturing Index in the US remained positive but dropped 11 points to 4.5 in May 2024, from a two-year high of 15.5 in April, below market expectations of 8. The index for new orders declined from 12.2 to -7.9, its first negative reading since February, and the shipments index fell from 19.1 to -1.2, its first negative reading since January. Although employment indicators rose, the firms continued to report a decline in employment, on balance. The employment index moved up 3 points to -7.9. On the price front, both price indexes indicate overall increases in prices but remain below their long-run averages. Looking ahead, the firms continue to expect growth over the next six months.

截至5月11日的一周，美国申请失业救济的人数减少了1万人，降至22.2万人，低于市场预期的22万人。这是今年的第三高数据，使申请失业救济人数远高于过去9个月的平均水平，并表明美国劳动力市场正在疲软。四周移动平均线增加了2500人，达到217750人，这减少了每周的波动性。非季节性调整后的索赔人数减少了13325人，至196725人，因为佛罗里达州（1158人）的增加限制了纽约州（-9442人）的季节性急剧下降。与此同时，截至5月4日的一周内，未决索赔增加到1794000件，为一个月来的最高值，这反映了就业市场的紧张。

The number of people claiming unemployment benefits in the US fell by 10,000 to 222,000 on the week ending May 11th, less than market expectations of 220,000. It was the third-highest reading this year, keeping the claims well above the last 9 months' average, and pointing to the weakening labor market in the US. The four-week moving average, which reduces week-to-week volatility, rose by 2,500 to 217,750. The non-seasonally adjusted claim count fell by 13,325 to 196,725, as an increase in Florida (1,158) limited a sharp seasonal decline in New York (-9,442). Meanwhile, outstanding claims increased to 1,794,000 in the week ending May 4th, the highest in one month, to reflect tightness in the job market.

根据初步估计，2024年4月，美国的建筑许可证下降了3%，经季节性调整后的年增长率为144万，为2022年12月以来的最低水平，低于市场预期的148万。拥有五个或五个以上单元的建筑中的单元审批量下降了9.1%，至40.8万个，达到2020年10月以来的最低水平，单户授权量下降了0.8%，至9.76亿个八个月来的最低水平。在美国不同地区，中西部（-18.1%至16.7万）和西部（-14.4%至29.2万）的许可证数量有所下降，而南部（4.2%至82.7万）和东北部（5.5%至15.4万）的报告数量有所增加。

Building permits in the United States fell by 3% to a seasonally adjusted annual rate of 1.440 million in April 2024, the lowest since December 2022 and below market expectations of 1.480 million, according to a preliminary estimate. Approvals of units in buildings with five units or more tumbled by 9.1% to a rate of 408 thousand, reaching the lowest level since October 2020, and single-family authorizations went down by 0.8% to an eight-month low of 976 million. Across different US regions, there were declines in permits in the Midwest (-18.1% to 167 thousand), and the West (-14.4% to 292 thousand), while increases were reported in the South (4.2% to 827 thousand), and Northeast (5.5% to 154 thousand).