{"id":614150,"date":"2026-01-12T03:16:38","date_gmt":"2026-01-12T11:16:38","guid":{"rendered":"https:\/\/nai500.com\/?p=614150"},"modified":"2026-01-12T03:16:38","modified_gmt":"2026-01-12T11:16:38","slug":"k-wmt-tgt-dg-goldman","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2026\/01\/k-wmt-tgt-dg-goldman\/","title":{"rendered":"K\u578b\u6d88\u8d39\u8005\u5206\u5316\u6d4b\u8bd5 WMT\u3001TGT\u3001DG\uff0cGoldman \u8868\u6001\u652f\u6301"},"content":{"rendered":"

Goldman Sachs \u5728\u7f8e\u56fd\u7ecf\u6d4e\u6cbf\u6536\u5165\u7ebf\u5206\u5316\u4e4b\u9645\u7ee7\u7eed\u62bc\u6ce8\u6d88\u8d39\u3002\u5728\u4e00\u4efd\u65b0\u7684\u4eea\u8868\u76d8\u4e2d\uff0c\u8be5\u884c\u8ba4\u4e3a\u5bb6\u5ead\u652f\u51fa\u5728 2026 \u5e74\u5e94\u4fdd\u6301\u7a33\u5065\uff0c\u5f97\u76ca\u4e8e\u5f3a\u52b2\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u3001\u9000\u7a0e\u7684\u6b63\u9762\u6548\u5e94\u4ee5\u53ca\u8d44\u4ea7\u6301\u6709\u8005\u4ecd\u7136\u504f\u9ad8\u7684\u8d22\u5bcc\u3002\u8868\u9762\u4e4b\u4e0b\uff0c\u56fe\u666f\u5374\u662f\u5206\u88c2\u7684\u3002\u53d7\u80a1\u7968\u548c\u623f\u4ef7\u63d0\u632f\u7684\u9ad8\u6536\u5165\u7fa4\u4f53\u6b63\u5728\u63a8\u52a8\u603b\u4f53\u9700\u6c42\uff0c\u800c\u6ca1\u6709\u8d44\u4ea7\u7f13\u51b2\u7684\u4f4e\u6536\u5165\u548c\u4e2d\u7b49\u6536\u5165\u5bb6\u5ead\u5219\u9762\u4e34\u5c31\u4e1a\u75b2\u8f6f\u3001\u8f83\u9ad8\u7684\u501f\u8d37\u6210\u672c\u548c\u5bf9\u5fc5\u9700\u54c1\u6301\u4e45\u7684\u4ef7\u683c\u538b\u529b\u3002\u8fd9\u79cd\u5206\u5316\u5df2\u7ecf\u5728\u5851\u9020\u96f6\u552e\u884c\u4e1a\u7684\u80dc\u8d1f\u683c\u5c40\uff0c\u5e76\u5c06\u5728\u63a5\u4e0b\u6765\u51e0\u5468\u7684\u94f6\u884c\u76c8\u5229\u3001\u5229\u6da6\u7387\u8bc4\u8ff0\u548c\u6307\u5f15\u4e2d\u6210\u4e3a\u6838\u5fc3\u8bae\u9898\u3002<\/p>\n

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\u8d22\u5bcc\u6548\u5e94\u5728\u53d1\u6325\u5173\u952e\u4f5c\u7528<\/h3>\n

\u8d22\u5bcc\u6e20\u9053\u4ecd\u662f\u6446\u52a8\u56e0\u7d20\u3002\u51c0\u8d22\u5bcc\u4e0e\u53ef\u652f\u914d\u6536\u5165\u4e4b\u6bd4\u63a5\u8fd1\u5386\u53f2\u9ad8\u4f4d\uff0c\u5f97\u76ca\u4e8e\u80a1\u5e02\u4e0a\u6da8\u548c\u623f\u5e02\u62d2\u7edd\u56de\u843d\u3002\u8fd9\u4e00\u7f13\u51b2\u652f\u6491\u7740\u9ad8\u6536\u5165\u4eba\u7fa4\u7684\u6d88\u8d39\u548c\u670d\u52a1\u9700\u6c42\uff0c\u5373\u4fbf\u50a8\u84c4\u7387\u5728 9 \u6708\u4e0b\u6ed1\u81f3 4.0%\uff0c\u9884\u8ba1\u5230 2026 \u5e74\u672b\u56de\u5347\u81f3\u7ea6 5%\u3002RBC Economics \u76f4\u8a00\u4e0d\u8bb3\uff1a\u4e0a\u4e94\u5206\u4e4b\u4e00\u7684\u6536\u5165\u8005\u56e0\u8d44\u4ea7\u589e\u503c\u800c\u63a8\u52a8\u6d88\u8d39\u589e\u957f\u3002Fed \u4e3b\u5e2d Jerome Powell \u5df2\u627f\u8ba4\u8fd9\u79cd K \u578b\u5206\u5316\u5e76\u8d28\u7591\u5176\u6301\u4e45\u6027\u3002\u8fd9\u79cd\u96c6\u4e2d\u4e0d\u4ec5\u5173\u4e4e\u6295\u8d44\u7ec4\u5408\u3002\u53ef\u83b7\u5f97\u5ec9\u4ef7\u56fa\u5b9a\u5229\u7387\u62b5\u62bc\u8d37\u6b3e\u548c\u623f\u5c4b\u51c0\u503c\u989d\u5ea6\u6b63\u5728\u4f7f\u501f\u8d37\u884c\u4e3a\u4e24\u6781\u5206\u5316\u3002\u5bf9\u4e8e\u62e5\u6709\u623f\u5c4b\u51c0\u503c\u7684\u5bb6\u5ead\uff0cHELOC \u6b63\u5728\u5feb\u901f\u589e\u957f\uff1b\u5bf9\u4e8e\u79df\u623f\u6216\u6301\u6709\u6d6e\u52a8\u5229\u7387\u503a\u52a1\u8005\uff0c\u73b0\u5b9e\u66f4\u52a0\u7d27\u5f20\u3002<\/p>\n

\u4fe1\u8d37\u6469\u64e6\u662f\u96c6\u4e2d\u6027\u7684\uff0c\u800c\u975e\u7cfb\u7edf\u6027\u7684<\/h3>\n

Goldman \u7684\u4eea\u8868\u76d8\u6307\u51fa\u6574\u4f53\u8fdd\u7ea6\u7387\u8d8b\u4e8e\u7a33\u5b9a\uff0c\u4f46\u5f3a\u8c03\u6b21\u8d37\u501f\u6b3e\u4eba\u7684\u6c7d\u8f66\u8d37\u6b3e\u5b58\u5728\u75db\u70b9\uff0c\u5c24\u5176\u662f 2022 \u548c 2023 \u5e74\u7684\u5e74\u4efd\uff0c\u6838\u9500\u4ecd\u7136\u504f\u9ad8\u3002\u6d88\u8d39\u8005\u4fe1\u8d37\u589e\u957f\u75b2\u8f6f\uff0c\u6309\u5e74\u7387\u7565\u9ad8\u4e8e 2%\uff0c\u5373\u4fbf\u623f\u5c4b\u51c0\u503c\u8d37\u6b3e\u6309\u8fd1\u671f\u8861\u91cf\u7ea6\u4ee5 6%\u20137% \u7684\u5e74\u5316\u901f\u5ea6\u6269\u5f20\u3002\u8fd9\u79cd\u5206\u5316\u5c06\u5728\u5927\u578b\u94f6\u884c\u8d22\u62a5\u4e2d\u6210\u4e3a\u7126\u70b9\u3002\u5bf9\u4e0b\u5c42\u501f\u6b3e\u4eba\u6709\u6df1\u5ea6\u655e\u53e3\u7684\u94f6\u884c\u5361\u653e\u8d37\u673a\u6784\u548c\u5730\u533a\u6027\u94f6\u884c\u5c06\u9762\u4e34\u5173\u4e8e\u7ee7\u7eed\u6eda\u52a8\u7387\u548c\u635f\u5931\u6b63\u5e38\u5316\u7684\u8d28\u8be2\uff0c\u800c\u5927\u578b\u94f6\u884c\u5c06\u4f9d\u8d56\u5bcc\u88d5\u5ba2\u6237\u3001\u8d22\u5bcc\u7ba1\u7406\u8d39\u548c\u9ad8\u7aef\u7684\u7a33\u5065\u5237\u5361\u652f\u51fa\u3002\u9884\u8ba1 CEO \u4f1a\u8c08\u8bba\u201c\u5065\u5eb7\u4f46\u8c28\u614e\u201d\uff0c\u5e76\u5f3a\u8c03\u4fe1\u8d37\u6b63\u5e38\u5316\u662f\u4ece\u5f02\u5e38\u504f\u4f4e\u7684\u57fa\u6570\u4e0a\u56de\u5f52\u3002<\/p>\n

Goldman \u6307\u793a\u7684\u53cc\u7aef\u96f6\u552e\u5e03\u5c40<\/h3>\n

\u5728\u80a1\u6743\u65b9\u9762\uff0cGoldman \u7684\u6d88\u8d39\u56e2\u961f\u660e\u786e\u8868\u793a\uff1a\u4ed6\u4eec\u5728\u5c3c\u53e4\u4e01\u3001\u80fd\u91cf\u996e\u6599\u3001\u7cd6\u679c\u548c\u7f8e\u5986\u9886\u57df\u770b\u5230\u673a\u4f1a\u3002\u8fd9\u662f\u4e00\u5957\u4e3a K \u578b\u4e16\u754c\u6253\u9020\u7684\u7b56\u7565\u3002\u4ef7\u503c\u53ca\u4e0e\u65e5\u5e38\u6d88\u8d39\u54c1\u76f8\u90bb\u7684\u96f6\u98df\u5bf9\u4f4e\u81f3\u4e2d\u7aef\u6d88\u8d39\u8005\u4ecd\u6709\u5438\u5f15\u529b\uff0c\u800c\u9ad8\u7aef\u7f8e\u5986\u548c\u5065\u5eb7\u7c7b\u4ea7\u54c1\u5728\u9876\u7aef\u6301\u7eed\u7545\u9500\u3002\u53ef\u89c1\u53cc\u7aef\u5e03\u5c40\uff1a\u4e00\u7aef\u662f\u4ed3\u50a8\u4f1a\u5458\u5e97\u548c\u9ad8\u7aef\u54c1\u724c\uff0c\u53e6\u4e00\u7aef\u662f\u4e00\u7f8e\u5143\u7c7b\u5546\u5e97\u548c\u4fbf\u5229\u6d88\u8d39\u4eab\u53d7\u3002Walmart \u548c Costco \u6301\u7eed\u5438\u5f15\u5411\u4e0b\u4ea4\u6613\u53ca\u4ea4\u53c9\u8d2d\u7269\uff0c\u800c Amazon \u5728\u88ab\u65f6\u95f4\u538b\u7f29\u7684\u9ad8\u6536\u5165\u5bb6\u5ead\u4e2d\u4efd\u989d\u4e0a\u5347\u3002\u4e2d\u95f4\u5c42\u4ecd\u662f\u95ee\u9898\u6240\u5728\u3002\u4e00\u4e9b\u7efc\u5408\u7c7b\u548c\u670d\u9970\u8fde\u9501\u5e97\u9762\u4e34\u5ba2\u6d41\u6ce2\u52a8\uff0c\u56e0\u4e3a\u5bf9\u5fc5\u9700\u54c1\u7684\u901a\u80c0\u6324\u51fa\u4e86\u975e\u5fc5\u9700\u54c1\u8d2d\u7269\u8f66\u3002\u9762\u5411\u6700\u4f4e\u6536\u5165\u90ae\u7f16\u7684\u6298\u6263\u5e97\u6b63\u7ecf\u5386\u7ec4\u5408\u538b\u529b\u548c\u66f4\u9ad8\u7684\u5546\u54c1\u635f\u8017\u6210\u672c\uff0c\u800c\u5176\u987e\u5ba2\u5728\u9000\u7a0e\u5b63\u7ed3\u675f\u540e\u6700\u4e0d\u5177\u5907\u62b5\u5fa1\u8d44\u91d1\u51b2\u51fb\u7684\u4fdd\u62a4\u3002<\/p>\n

\u6536\u5165\u653f\u7b56\u5c06\u5728 2026 \u5e74\u5de6\u53f3\u504f\u5411\u5f71\u54cd\u7ed3\u679c<\/h3>\n

Goldman \u9884\u8ba1\u5728 2026 \u5e74\u5b9e\u8d28\u53ef\u652f\u914d\u6536\u5165\u589e\u957f\u5c06\u5c0f\u5e45\u56de\u5347\uff0c\u5f97\u76ca\u4e8e\u5305\u542b\u5728 One Big Beautiful Bill Act \u4e2d\u7684\u9884\u671f\u51cf\u7a0e\u4ee5\u53ca\u5173\u7a0e\u62d6\u7d2f\u7684\u51cf\u5f31\u3002\u8be5\u884c\u9884\u8ba1\u6309\u7b2c 4 \u5b63\u5ea6\u6bd4\u7b2c 4 \u5b63\u5ea6\u53e3\u5f84\uff0c2026 \u5e74\u5b9e\u8d28\u53ef\u652f\u914d\u6536\u5165\u589e\u957f\u5c06\u52a0\u901f\u81f3\u7ea6 2.7%\u3002\u4f46\u653f\u7b56\u4e5f\u5728\u4ea7\u751f\u76f8\u53cd\u7684\u62c9\u529b\u3002\u5bf9 Medicaid \u548c SNAP \u7684\u524a\u51cf\u5c06\u6253\u51fb\u6700\u5e95\u5c42\u7684\u4e94\u5206\u4e4b\u4e00\u4eba\u53e3\uff0c\u52a0\u5267\u66f4\u9ad8\u503a\u52a1\u670d\u52a1\u8d1f\u62c5\u548c\u96f6\u661f\u7684\u5c31\u4e1a\u589e\u957f\u6240\u5e26\u6765\u7684\u5f71\u54cd\u3002\u8fd9\u5c31\u662f\u4e3a\u4f55\u5934\u6761\u7684\u4fe1\u5fc3\u8bfb\u6570\u53ef\u4ee5\u4fdd\u6301\u4f4e\u8ff7\u800c\u652f\u51fa\u4ecd\u7136\u5e73\u7a33\u7684\u539f\u56e0\u3002\u5bc6\u6b47\u6839\u5927\u5b66\u7684\u60c5\u7eea\u6307\u6570\u5df2\u4ece\u4f4e\u4f4d\u56de\u5347\uff0c\u4f46 Conference Board \u7684\u6307\u6807\u6700\u8fd1\u4e0b\u6ed1\uff0c\u6700\u53ca\u65f6\u7684\u6bcf\u65e5\u8ffd\u8e2a\u5668\u6ce2\u52a8\u8f83\u5927\u3002\u60c5\u7eea\u75b2\u8f6f\u4e0e\u9ad8\u7aef\u5f3a\u52b2\u652f\u51fa\u5e76\u5b58\u662f\u8fd9\u4e00\u9636\u6bb5\u7684\u663e\u8457\u7279\u5f81\u3002<\/p>\n

AI \u5e26\u6765\u7684\u8d22\u5bcc\u6548\u5e94\u4e3a\u9876\u7aef\u518d\u6dfb\u52a8\u529b<\/h3>\n

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\u5728 K \u578b\u4e16\u754c\u4e2d\u7684\u914d\u7f6e<\/h3>\n

\u5e02\u573a\u5df2\u7ecf\u5728\u4ea4\u6613\u8fd9\u79cd\u5206\u5316\u3002\u9762\u5411\u5bcc\u88d5\u5ba2\u6237\u7684\u5e73\u53f0\u3001\u8ba2\u9605\u670d\u52a1\u548c\u53d7\u76ca\u4e8e\u5411\u4e0b\u4ea4\u6613\u8005\u7684\u4f01\u4e1a\u7ee7\u7eed\u8dd1\u8d62\u4e2d\u7aef\u975e\u5fc5\u9700\u54c1\u3002\u6709\u5b9a\u4ef7\u6743\u4e14\u5f39\u6027\u9002\u4e2d\u7684\u5305\u88c5\u6d88\u8d39\u54c1\u4ecd\u638c\u63e1\u6760\u6746\u3002\u5728\u5468\u671f\u6027\u6d88\u8d39\u9886\u57df\uff0c\u53ef\u9632\u5b88\u7684\u7b56\u7565\u4ecd\u662f\u53cc\u7aef\uff1a\u6301\u6709\u4f9d\u9644\u4e8e\u8d22\u5bcc\u7684\u9ad8\u7aef\u655e\u53e3\uff0c\u4ee5\u53ca\u5728\u9884\u7b97\u62c9\u4f38\u65f6\u80fd\u593a\u53d6\u4efd\u989d\u7684\u5927\u578b\u96f6\u552e\u5546\u3002\u5c31\u98ce\u9669\u800c\u8a00\uff0c\u6ce8\u610f\u6c7d\u8f66\u4fe1\u8d37\u548c\u65e0\u62c5\u4fdd\u4fe1\u7528\u5361\u7fa4\u4f53\u7684\u62d0\u70b9\u3002Morgan Stanley \u7684 Lisa Shalett \u76f4\u8a00\uff1a\u4e2d\u7aef\u5230\u4f4e\u7aef\u6d88\u8d39\u8005\u6b63\u51fa\u73b0\u771f\u5b9e\u88c2\u75d5\u3002Goldman \u7684\u4eea\u8868\u76d8\u8ba4\u4e3a\u603b\u4f53\u6d88\u8d39\u8005\u80fd\u5ea6\u8fc7 2026 \u5e74\u3002\u4e8c\u8005\u53ef\u4ee5\u540c\u65f6\u4e3a\u771f\u3002\u5728 K \u578b\u7ecf\u6d4e\u4e2d\uff0c\u5e73\u5747\u503c\u544a\u8bc9\u4f60\u7684\u4fe1\u606f\u66f4\u5c11\u3002\u524d\u8def\u5c06\u7531\u8d44\u4ea7\u5e02\u573a\u80fd\u7ef4\u6301\u591a\u4e45\u4ee5\u53ca\u52b3\u52a8\u529b\u5728\u4fe1\u8d37\u538b\u529b\u6269\u5927\u524d\u662f\u5426\u627e\u5230\u5e95\u90e8\u51b3\u5b9a\u3002\u90a3\u4e9b\u8bfb\u61c2\u5206\u5316\u800c\u4e0d\u4ec5\u4ec5\u770b\u5934\u6761\u7684\u6295\u8d44\u8005\u5c06\u5360\u636e\u4f18\u52bf\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs\u9884\u6d4b\uff0c\u5f97\u76ca\u4e8e\u7a33\u5065\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u548c\u62c9\u5927\u7684\u8d22\u5bcc\u5dee\u8ddd\uff0c2026\u5e74\u6d88\u8d39\u5c06\u4fdd\u6301\u97e7\u6027\uff0c\u5728K\u578b\u7ecf\u6d4e\u4e0b\u5851\u9020\u96f6\u552e\u4e1a\u7684\u8d62\u5bb6\u4e0e\u8f93\u5bb6\u3002<\/p>\n","protected":false},"author":48,"featured_media":587492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[427],"tags":[2387,1121],"class_list":["post-614150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hans","tag-ai-sch","tag-1121"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/614150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=614150"}],"version-history":[{"count":2,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/614150\/revisions"}],"predecessor-version":[{"id":614176,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/614150\/revisions\/614176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/587492"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=614150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=614150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=614150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}