In terms of macroeconomics, the US core Producer Price Index (PPI) for January 2026 exceeded expectations both year-on-year and month-on-month. The core PPI increased by 3.6% year-on-year, surpassing the expected 3% and the previous value of 3.3%. Month-on-month, it rose by 0.8%, higher than the anticipated 0.3% and the prior figure of 0.6%. This indicates rising inflationary pressures at the production end, suggesting that upstream price transmission remains relatively strong.
The US Conference Board Consumer Confidence Index for February 2026 saw a slight rebound but remained at a low level. The index climbed to 91.2, above the expected 87.1 and the previous (revised) value of 89.0. The Present Situation Index decreased to 120.0 (from 121.8 previously), while the Expectations Index rose to 72.0 (from 67.2). This reflects a fragile recovery in consumer sentiment.
**Performance of Major Indices** 1. Weekly Index Performance Last week (February 23-27), the S&P Oil & Gas Index gained 1.17% for the week. The Nasdaq 100 Index fell by 0.21%, and the S&P 500 Index declined by 0.44%. Among the 11 sectors covered by the S&P 500, seven rose, with the S&P 500 Utilities sector leading gains at 2.89%, while the S&P 500 Information Technology sector was the biggest decliner, dropping 2.17%.
2. Allocation Direction US Stocks: The US Purchasing Managers' Index (PMI) for February showed a decline. With continued loose US dollar liquidity and favorable financial conditions supporting overseas manufacturing, overseas growth may maintain some resilience in the near term. After a significant weakening, US Treasury yields are approaching the lower bound of their fluctuation range, suggesting limited room for further decline. Resources and AI hardware have emerged as two main themes in global investment since the Lunar New Year. Over the past weekend, geopolitical tensions between the US and Iran escalated, driving simultaneous gains in gold and oil prices, while US stock futures declined. Regarding market expectations for interest rate cuts, CME futures still suggest the first rate cut is likely to occur in June. Concerning fourth-quarter earnings, the number of S&P 500 constituent companies reporting profits above expectations has decreased compared to previous quarters.
The US S&P 500 Index is internationally recognized as a barometer for US stocks, covering over 500 representative listed companies across 11 sectors in the US. It is concentrated in large-cap stocks and represents approximately 80% of the total US stock market capitalization.
The Bosera Nasdaq 100 ETF (513390) is a domestic product tracking the US Nasdaq 100 Index. According to data from the Nasdaq Index website, the Information Technology sector accounts for 57.87% of the index, making it the primary component. The index also includes allocations to Consumer Services, Consumer Goods, Healthcare, and other sectors. The top ten constituents of the index are all high-quality high-tech companies.
All information in this report is derived from publicly available sources. No guarantee is made regarding the accuracy or completeness of this information. Under no circumstances shall the information or opinions expressed in this report constitute actual investment results or any investment advice to investors.
Unless otherwise specified, data in this report is sourced from Wind, with the date截至 February 27, 2026.
The copyright of this report belongs to Bosera Asset Management Co., Ltd.
Investing involves risks; please choose carefully.
The Bosera S&P 500 ETF (513500) risk rating: Medium-High. The Bosera Nasdaq 100 ETF (513390) risk rating: Medium-High.
A MACD golden cross signal has formed, and certain stocks have shown good performance.
Comments