In terms of macroeconomics, the U.S. FHFA House Price Index for October showed a better-than-expected month-over-month increase. The index rose by 0.4% in October, surpassing the expected 0.1% and the previous value of -0.1%.
Initial jobless claims in the United States fell significantly. For the week ending December 20, initial jobless claims stood at 199,000, dipping below 200,000 and approaching historic lows, compared to the previous figure of 215,000 and an expectation of 218,000.
The operating rate of U.S. refineries saw a slight increase. For the week ending December 26, the U.S. refinery utilization rate reached 94.7%, a marginal rise from the previous week's 94.6%.
U.S. crude steel production continued its year-on-year decline for the week. As of December 27, U.S. crude steel production for the week was down 1.8% year-on-year, a further drop from the previous week's decline of 3.6%.
Performance of Major Indices for the Week
Last week (2025/12/29 - 2026/01/02), the S&P Oil & Gas Exploration & Production Select Industry Index gained 3.11% for the week. Conversely, the Nasdaq 100 Index fell 1.71%, and the S&P 500 Index declined 1.03%. Among the 11 sectors covered by the S&P 500, only three posted gains, with the S&P 500 Energy sector leading the increase, up 3.29%, while the S&P 500 Consumer Discretionary sector led the declines, dropping 3.17%.
Data source: Wind
Allocation Direction
U.S. Stocks: The minutes from the December FOMC meeting released last week indicated that most officials supported further interest rate cuts. However, the sharp drop in initial jobless claims fueled increased market expectations for rate cuts. U.S. stocks experienced a pullback during the holiday period, while gold prices rebounded. U.S. actions pressuring the Venezuelan government to align with its sphere of influence and secure strategic resources like oil could potentially provide short-term support for crude oil prices. In the medium to long term, however, an increase in global crude oil supply may instead exert downward pressure on prices. The Bosera S&P 500 ETF (513500) is an ETF product domestically tracking the U.S. S&P 500 Index. Utilizing ETFs, which are investment tools with low management costs, it helps domestic investors capture the growth returns of U.S. stocks. Investors may also consider the Bosera S&P 500 ETF Link Fund (A 050025, C 006075). The U.S. S&P 500 Index is internationally recognized as a bellwether for the U.S. stock market, covering over 500 representative listed companies across 11 sectors in the U.S., primarily focused on large-cap stocks, representing approximately 80% of the total U.S. stock market capitalization. The Bosera Nasdaq 100 ETF (513390) is a domestic product tracking the U.S. Nasdaq 100 Index. According to data from the Nasdaq Index website, in terms of sector distribution, the Information Technology sector comprises 57.87%, forming the primary component of the index. Additionally, the index has exposure to sectors such as Consumer Services, Consumer Goods, and Healthcare. An examination of the index's top ten constituents reveals they are all high-quality, high-tech companies.
Data source: Bloomberg The information in this report is derived from publicly available sources, and our company makes no warranty regarding its accuracy or completeness. Under no circumstances shall the information or opinions expressed in this report constitute the actual investment results of our company, nor do they constitute any investment advice to investors. Unless otherwise specified, the data in this report is sourced from Wind, with the date截至 January 2, 2026. The copyright of this report belongs to Bosera Asset Management Co., Ltd. Investing involves risks, please choose cautiously. Bosera S&P 500 ETF (513500) Risk Level: Medium-High Bosera Nasdaq 100 ETF (513390) Risk Level: Medium-High Dear Investor: Funds carry risks, investment requires caution. 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