Carol I got to say you know I'm going to go there.

卡羅爾 我得說，你知道我要去那裡。

But the Nasdaq Golden Dragon man guys up another 5 percent.

但納斯達克金龍人又上漲了 5%。

Have you seen.

你看過嗎？

I know we've talked about it up about 41 percent since mid-September still just up about 23 percent for the year.

我知道我們已經說過，自 9 月中旬以來，它已經上漲了約 41%，但今年仍然只上漲了約 23%。

But what outperformance.

但是，我們的表現卻如此出色。

And again you know just continuing to see some of the investor enthusiasm.

你也知道，投資者的熱情還在繼續。

You know you know what I thought was funny too.

你知道我也覺得很好笑。

There was a great no doubt on this.

這一點毋庸置疑。

The potential increases that we could see by Scott Rubner over there.

我們可以看到斯科特-魯布納的潛在增長。

I didn't realize how much the Chinese markets were still well below their all time highs.

我沒有意識到中國市場仍遠低於歷史最高點。

I think it was like the Hang Seng is like you know still like 30 percent below its all time high which was set years ago.

我覺得恆生指數比多年前創下的歷史最高點還低 30%。

And of course the mainland indices have never even reclaimed their highs from the global financial crisis which just shows you right.

當然，大陸的股指甚至從未恢復到全球金融危機時的高點，這恰恰說明了這一點。

How much more ground there is to go.

還有多少路要走

And even with the jump up that we've seen and you know the Nasdaq Golden Dragon it is still just up 20 percent this year even with that 40 percent jump like in the last month or so.

即使我們看到納斯達克金龍指數（Golden Dragon）躍升，但它今年的漲幅仍然只有 20%，即使像上個月那樣躍升了 40%。

Yeah.

是啊

Some perspective right.

有些觀點是對的。

Remain.

請留步。

Everyone wants to know.

每個人都想知道

Did the iPhone arrive yet.

iPhone 到貨了嗎？

I know you've talked about this on TV.

我知道你在電視上說過這個問題。

The iPhone has landed.

iPhone 已經登陸。

I got an alert saying it had been delivered.

我收到一個提示，說已經送達。

Doorman has it.

門衛拿到了

And I'm sure as soon as I walk in the door a certain person will be all over me asking me to power that thing up.

我敢肯定，只要我一進門，某個人就會圍著我，讓我給那東西加電。

You have the new charging cord yet.

你有新的充電線嗎？

Don't start.

不要開始

Don't start.

不要開始

There's a lot of drama around this.

圍繞著這一點，有很多戲劇性的東西。

You know a thousand dollars for access.

要知道，一千美元就能進入。

Whether the strike would affect all of that.

罷工是否會影響這一切。

You wonder why this company is a cash cow.

你不禁要問，為什麼這家公司會成為搖錢樹？

All right.

好的

Anyway let's go.

不管怎樣，我們走吧。

I'll walk you through the numbers here on this Wednesday afternoon.

本週三下午，我將在這裡向大家介紹這些數字。

The Dow Jones industrial average slightly higher here on the day.

道瓊斯工業平均指數當日在此小幅走高。

There's a calendar on the board because everything is green on the screen.

黑板上有日曆，因為螢幕上一切都是綠色的。

But the gains are of a tenth of a percent gain for the S&P 500 and the Russell 2000.

但標準普爾 500 指數和羅素 2000 指數的漲幅僅為十分之一。

It's actually sitting this one out down about a tenth of a percent here on the day.

實際上，它當天的跌幅只有十分之一。

All right.

好的

To the S&P 500 we go guys.

標準普爾 500 指數，我們走了。

Not quite an even split but you had two hundred twenty one names to the upside.

雖然不是平分秋色，但也有 2201 個名字在上風。

Two hundred and seventy eight losing ground.

二百七十八次失利。

And Scarlett you had four unchanged.

斯嘉麗，你有四個沒變。

All right.

好的

Let's take a look at how it shakes out when you look at the sector performances.

讓我們看看各行業的表現如何。

It's pretty clear you've got some big gainers here.

很明顯，你在這裡收穫頗豐。

Energy extending its advance from yesterday up more than 1 percent as oil prices continue to rise.

由於油價繼續上漲，能源板塊延續了昨日的升勢，漲幅超過 1%。

Tech stocks led by chip makers up by six tenths of 1 percent.

以芯片製造商為首的科技股上漲了萬分之六點一。

Financials also squeaking into the green.

金融股也悄然轉綠。

On the flip side consumer names whether you're talking about discretionary names or staples.

反過來說，消費類股票，無論是可自由支配的股票還是主食類股票。

And we notice that auto and apparel names in particular are weak.

我們注意到，汽車和服裝行業尤其疲軟。

They're down by eight tenths of 1 percent and communication services lower by four tenths of 1 percent.

它們下降了萬分之八點一個百分點，通信服務下降了萬分之四點一個百分點。

All right.

好的

That's the big picture.

這就是全局。

Let's get to some of the Toyota motors saying it is boosting its investment in the air taxi manufacturer by five hundred million dollars to support plans for commercial production bringing Toyota's total investment in the startup to about eight hundred ninety four million dollars.

豐田汽車公司表示，它將對這家空中計程車製造商增加五億美元的投資，以支持其商業化生產計劃，從而使豐田對這家初創公司的投資總額達到約八億九千四百萬美元。

So big bump up in that one sphere entertainment.

是以，在娛樂領域的地位大大提升。

You know the air taxi.

你知道空中計程車

Is that just an airplane.

那只是一架飛機嗎？

I've been in it.

我一直在其中。

You've been in it.

你一直在其中。

I'm not.

我沒有。

I wish.

我倒希望如此。

Oh no.

哦，不

These are like EV helicopters basically.

這些基本上就像是電動直升機。

Helicopter.

直升機。

Yeah.

是啊

You don't have one.

你沒有。

You'd be told.

你會被告知

I know.

我知道

I just you know me just taking those.

我只是你知道我只是把那些。

These are the type of thing where they were announced years ago.

這些都是幾年前就宣佈的類型。

You're still waiting to see them in the skies.

你還在等著在天空中看到它們呢。

Yeah eventually.

最終會的

Maybe you're maybe your phone's being delivered by a drone.

也許你的手機是由無人機送達的。

Yeah.

是啊

That'd be nice.

那就太好了

Yeah.

是啊

I hope that screen can hold up from the drop.

我希望那個螢幕能承受住跌落。

Well maybe when they're around they can take us to the sphere in Las Vegas.

也許他們在的時候，可以帶我們去拉斯維加斯的球體。

Sphere entertainment up more than 7 percent in today's session.

Sphere Entertainment 在今天的交易中上漲超過 7%。

Wolf Research upgrading the company to outperform from peer to peer or from peer perform excuse me.

沃爾夫研究公司（Wolf Research）將該公司的評級提升為 "優於同行"，或者說 "優於同行表現"，不好意思，是 "優於同行表現"。

Sphere has shown early signs of success improving its core value propositions of being a more utilized efficient and profitable venue relative to a traditional arena.

與傳統場館相比，Sphere 在提高場館利用效率和盈利能力方面的核心價值主張已初見成效。

And it should benefit as more content is created allowing it to appeal to a larger audience.

隨著更多內容的產生，它應能吸引更多閱聽人，從而從中受益。

And it also says it's not evident to us that another sphere is fully baked in.

它還說，在我們看來，另一個球體還沒有完全出爐。

So maybe they're thinking some expansion there.

是以，他們可能在考慮擴大規模。

So that one price target set at 60 bucks guys.

是以，目標價格定為 60 美元。

Stock closing about forty seven dollars and is up overall in 2024.

股票收盤價約為 47 美元，2024 年整體上漲。

Stock is up almost 40 percent.

股價上漲了近 40%。

CVS Health up another 1 percent.

CVS Health 再漲 1%。

Today's session off its highs.

今日盤中衝高回落。

We've talked about it this week already.

我們這周已經談過這個問題了。

Barclays saying the stock is well positioned for margin improvement after review of the firm's Medicare Advantage plan offerings for 2025.

巴克萊（Barclays）稱，在對該公司 2025 年的醫療保險優勢計劃（Medicare Advantage Plan）進行審查後，該公司股票的利潤率有望得到改善。

We know this was a big theme in some of the health care names today.

我們知道，這是今天一些醫療保健名稱的一大主題。

Stock though is down 20 percent year to date.

雖然今年迄今為止股價下跌了 20%。

We know the other story is maybe what happens to this company going forward in terms of as it looks at a OK let's get to some of the decliners.

我們知道，另一個故事可能是這家公司未來的發展，因為它看起來還不錯，讓我們來看看一些下跌的公司。

I do want to start with Tesla shares the Tesla down three point five percent today.

我想從特斯拉股票說起，特斯拉今天下跌了百分之三點五。

The company did post its first increase in quarterly vehicle sales this year though it did let down investors who were expecting more of that bump from China boosting EV car subsidies.

該公司的汽車銷量實現了今年以來的首次季度增長，但卻讓投資者大失所望，因為他們對中國提高電動汽車補貼的預期更高。

The numbers Tesla delivered more than four hundred sixty two thousand vehicles to customers in the last three months.

過去三個月，特斯拉向客戶交付了超過四十六萬兩千輛汽車。

It was up six point four percent from a year ago.

與一年前相比，增長了 6.4%。

Analysts who were tracked by Bloomberg wanted to see a drop of one point fifty three thousand nine hundred units.

彭博社跟蹤的分析師希望看到下降一點五萬三千九百臺。

Shares of Humana.

Humana 的股票。

Wow.

哇

All over the place today in the red down 11 point 8 percent at the end of the day.

今天全線飄紅，收盤時下跌了 11.8%。

But they were down as much as 24 percent earlier in the session the most intraday going back to 2009.

但早些時候的盤中跌幅高達 24%，為 2009 年以來最大跌幅。

The company disclosed the sharp drop in decline in quality ratings for its Medicare plans for 2025.

該公司披露，其 2025 年醫療保險計劃的品質評級急劇下降。

It said the drop will impact quality bonus payments in 2026.

它表示，這一下降將影響到 2026 年的品質獎金支付。

We had John Tazi of Bloomberg News on earlier.

之前我們請到了彭博新聞社的約翰-塔齊。

He reminded us that he managed traditionally had pretty good quality ratings and earned bonuses on most of its plans.

他提醒我們說，他所管理的公司歷來都有相當不錯的品質評級，而且大多數計劃都能獲得獎金。

But as of only 25 percent of its members will be in highly rated plans that generate extra revenue that's down from 94 percent.

但截至目前，只有 25% 的會員參加了能產生額外收入的高評級計劃，低於 94%的比例。

Previously the company is appealing some of these ratings.

此前，該公司正在對其中一些評級提出上訴。

Also he made it down 46 percent so far this year.

此外，今年到目前為止，他的業績下降了 46%。

Finally Nike we covered the earnings after the bell yesterday.

最後，耐克公司在昨天收盤後發佈了財報。

Its sales in said that it was withdrawing guidance for the year.

其銷售部門表示，將撤回今年的指導意見。

They cited that leadership transition that's happening on October 13th and 14th.

他們提到了將於 10 月 13 日和 14 日進行的領導層交接。

John Donahoe out as president and CEO on the 13th.

約翰-多納霍（John Donahoe）13 日卸任總裁兼首席執行官。

Elliott Hill in on the 14th down so far this year.

艾略特-希爾（Elliott Hill）是今年迄今為止第 14 個倒下的人。

More than 23 percent down today.

今天跌幅超過 23%。

Six point eight percent.

6.8%。

What are you wearing right now.

你現在穿的是什麼？

This.

這。

Yeah.

是啊

Oh this is awkward.

真尷尬

Wait.

等等。

Are you to my shoes.

你到我的鞋子。

I'm actually wearing I'm wearing I'm wearing travel.

實際上，我穿著我穿著我穿著旅行。

That was really funny.

這真的很有趣。

I got some on my footwear.

我的鞋上也有一些。

I got the American Wolverines on America.

我得到了美國狼隊的美國。

It's fall.

秋天到了

It's fall.

秋天到了

It's boot season.

現在是開機季節。

Whatever.

管它呢

All I want are sneakers.

我只想要運動鞋。

The stiletto heels.

細高跟鞋

OK.

好的。

I'm taking a look at the bond market and I'm going to hit the FX market for a quick second.

我先看一下債券市場，然後再看一下外匯市場。

So overall you're seeing a bear steepener in the market sell off across the board.

是以，總體而言，你看到的是市場全面拋售的低迷的市場陡增。

The back end though rising a little bit more.

不過，後端上升的幅度更大一些。

So you're seeing that curve continue to steepen.

是以，你會看到曲線繼續陡峭化。

But I do want to point out guys that the dollar definitely gaining in strength particularly if you take a look at dollar yen the yen now weakening 2 percent to 146 about 42 45 per dollar.

但我想指出的是，美元確實在走強，特別是如果你看看美元兌日元的匯率，日元現在貶值了 2%，跌至 146 美元兌 42 45 日元左右。

And we haven't seen that since the beginning of August.

而自 8 月初以來，我們還沒有看到過這種情況。

Definitely want to point out you had the new prime minister saying the economy isn't ready for another interest rate hike.

我想指出的是，新任總理表示，經濟還沒有準備好再次加息。

So just putting that on everyone's radar for right now.

所以，現在就把它放在大家的雷達上。

All right.

好的

I don't know if this is on your radar guys but are you at all worried about your job being replaced by A.I.

我不知道你們是否關注這個問題，但你們是否擔心自己的工作會被人工智能取代。

Yes.

是的。

Yes.

是的。

I'll do it too for both hands.

兩隻手我也要做。

I mean it's oddly confident in this.

我的意思是，它在這一點上非常自信。

I'm just I'm just hoping I'll be long gone by the time that thing is still phased about the what are you wearing.

我只是希望，當那東西還在糾結你穿的是什麼的時候，我早已不在人世了。

The elder statesman.

老政治家

Yeah.

是啊

Sorry.

對不起。

All right.

好的

Well listen this is a great little story.

聽著，這是一個很棒的小故事。

A renowned M.I.T. economist professor professor actually Daron Asimov glue.

著名的麻省理工學院經濟學家教授其實是達龍-阿西莫夫膠水。

Am I saying it correct.

我說的對不對？

No.

不

Some Lou.

一些盧。

Am I saying it correctly.

我沒說錯吧？

No you're not.

不，你沒有。

But continue.

但請繼續。

OK.

好的。

Do you know how to say it.

你知道怎麼說嗎？

No.

不

All right.

好的

So anyway well if we had A.I. maybe it would help us out here.

總之，如果我們有人工智能，也許會幫到我們。

Anyway he says that with all this A.I. hype and all the investments he says basically that I can only do about 5 percent of jobs so that maybe we're safe.

總之，他說，人工智能和所有的投資都在炒作，基本上我只能做5%的工作，所以我們可能是安全的。

But which 5 percent.

但哪 5%呢？

That's the problem.

這就是問題所在。

Our 5 percent.

我們的 5%。

That's the concern.

這就是問題所在。

The easy 5 percent.

輕鬆的 5%。

Here's what he says though.

他是這麼說的

He says a lot of money is going to get wasted.

他說會浪費很多錢。

You're not going to get an economic revolution out of that 5 percent.

你不可能從這 5% 中獲得經濟革命。

We wanted to talk about this story because open A.I. raised six point six billion dollars in this latest funding round.

我們想談談這個故事，因為開放式人工智能公司在最新一輪融資中籌集了六十六億美元。

It's one hundred and fifty seven billion dollars in value.

價值 1557 億美元。

I mean we're talking like SpaceX.

我的意思是，我們說的是像 SpaceX 這樣的公司。

Yeah.

是啊

Tick tock.

滴答滴答

All right.

好的

Let's try to get to the real story of the day.

讓我們來看看今天真正的故事。

And that's going to go there.

而這將在那裡進行。

Throw the banners up there.

把橫幅扔上去

Fat Bear Week has started and apparently ended.

肥熊周已經開始，顯然也已經結束。

Of course this is the annual tradition up in Alaska's Katami National Park here where the bears basically start to stock up for winter.

當然，這是阿拉斯加卡塔米國家公園一年一度的傳統，這裡的熊基本上都開始為過冬做準備了。

They're eating all the salmon.

它們把鮭魚都吃光了。

You vote on who can get fattest.

你們投票決定誰最胖。

But apparently there was bear on bear violence that shut it all down just a little bit earlier.

但很顯然，熊對熊的暴力行為讓一切都停止了。

This feels really sad to me.

這讓我感到非常難過。

OK.

好的。

Here's my question.

我的問題是

Yeah.

是啊

Did like the world of humans make this happen because we're putting bears together or is this just a natural evolution of they're both predators and something.

是因為我們把熊放在一起，還是因為它們都是捕食者，這是自然進化的結果？

I think I think it's just both predators.

我想，我認為這只是兩個捕食者。

Look at this.

看看這個。

This is a small little area.

這是一個很小的區域。

All the sockeye salmon make the migration there.

所有的紅鮭魚都會在這裡洄游。

The bears just stand there catch it in their mouth.

熊就站在那裡叼住它。

I don't know.

我不知道。

Maybe somebody got a little chippy and I can't.

也許是有人不小心弄傷了我，所以我不能去。

I don't think bears are doing what they're doing.

我不認為熊會這麼做。

And we happen to catch it on camera.

而我們恰好拍到了這一幕。

Right.

對

I'm going to leave my earnings guys.

我要把我的收入留給你們。

I just can't do it.

我就是做不到。

All right.

好的

Levi seeing fiscal year just an EPS as some outlook at the midpoint of a dollar 17 to a dollar 27 a share on the street.

李維斯認為，本財年的每股收益將介於 17 美元到 27 美元之間。

That's for sure.

這是肯定的。

The estimate on the street is a dollar 25.

街上的估價是 25 美元。

You already see shares of Levi down almost 7 percent in the after hours.

你已經看到李維斯的股價在盤後下跌了近 7%。

Third quarter net revenue.

第三季度淨收入。

That was shy of what the street was expecting.

這與街道的預期相差甚遠。

One point fifty two billion versus an estimate of one point fifty five gross margin though coming in better than forecast.

毛利率為 15.2 億美元，高於預期的 15.5 億美元。

So disappointment here.

太失望了。

Yeah.

是啊

The company saying it's going to announce a strategic review of the Dockers brand.