Market analysis前日传出川普正式解雇联准会理事 Lisa Cook，指控其在房贷领域存在欺诈与犯罪行为。尽管 Cook 拒绝辞职并启动法律程序，但市场开始担忧联准会（Fed）独立性受到侵蚀。若川普成功以新提名人 Miran 替换 Cook，并结合已公开支持降息的 Waller 与 Bowman，其政府将在 7 名联准会理事中取得多数。更重要的是，联准会理事对于 12 个地区分行总裁的五年任命亦具影响力，这意味著白宫对 FOMC 会议的掌控力可能明显提高。消息引发市场疑虑，美股开盘走低。然而，投资人关注周三盘后的辉达(NVDA)财报，加上 CFTC 数据显示截至 8/19 当周，对冲基金与大型投机者持有 VIX 净空头合约近 10 万口，创 2022 年 9 月以来新高，显示量化与动能交易推动美股上行。开盘短暂下跌后，美股随即收复失地，主要指数终场全数收红，恐慌指数同步走低。类股方面，industrial stocks领涨，受惠美国商务部长点名国防产业将采「Intel模式」引入政府持股，洛克希德马丁(LMT)、波音(BA)、RTX(RTX)、GE Aerospace(GE)全数走高。油价下跌则推升航空股，如联合航空(UAL)、西南航空(LUV)；financial stocks受降息预期与监管放松憧憬提振，包含美国银行(BAC)、摩根大通(JPM)、富国银行(WFC)。Information technology stocks持续上行，AI 题材依旧吸金，辉达(NVDA)、超微(AMD)走强。硬体股中，网通族群相对亮眼，思科(CSCO)上涨近 2%。相对之下，defensive sectors如必需消费与房地产收跌，资金转向景气循环与成长题材。 

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Okta raises its full-year financial forecast, and companies invest more in identity verification tools to deal with AI threats

As companies increasingly focus on AI-driven security threats, identity verification platform Okta (OKTA) announced second-quarter results that exceeded expectations and raised its full-year financial forecast for the 2026 fiscal year. The company pointed out that demand from the public sector has grown significantly, and the expansion of AI agent applications has also driven the growth of demand for identity security management software. Okta is also actively deploying product portfolios and mergers and acquisitions to strengthen competitiveness. Despite a wave of consolidation in the market, such as Palo Alto Networks 'plans to acquire rival CyberArk, Okta emphasized that "customer choice" remains a key advantage.

Enterprises have strong demand for identity security, especially with the expansion of AI applications. Okta has benefited from this trend and steadily improved its operating performance. As the government and large companies continue to purchase its products, coupled with strategic mergers and acquisitions and product portfolio expansion, the company's future growth momentum still has room for imagination.

• Outstanding performance in the second quarter
  Okta第二季营收达7.28亿美元，年增13%，高于预期的7.12亿美元；调整后EPS为0.91美元，亦优于市场预估的0.84美元。

• The revised annual financial forecast reflects market confidence
  Okta预估2026财年营收介于28.75亿至28.85亿美元，高于原先预期的28.50亿至28.60亿美元；全年调整后EPS预测提高至3.33至3.38美元。

• The public sector is one of the main growth drivers
  第二季十大交易案中，有五笔来自公部门，其中最大一笔为美国国防部内部单位。即使在预算限制与采购流程延迟下，联邦客户续约率仍高。

• AI drives identity security market expansion
  Okta CEO指出，未来企业需为AI代理人导入身份管理工具，相关软体套件销售将带动长期成长潜力。

• Emphasizing product choice in the face of consolidation trend
  在Palo Alto计划并购CyberArk的背景下，Okta强调其非绑定的产品策略能提供客户更多弹性与整合选择。

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Trump threatens to impose tariffs on digital tax countries and restrict chip exports, and the European Union strongly responds to accusations of discrimination

U.S. President Trump recently threatened to impose "substantial" new tariffs on countries that implement the Digital Services Tax (DST) and have not revoked relevant legislation, and restrict the export of advanced chips, arguing that these policies are unfair to the U.S. technology industry. The EU immediately responded, denying discrimination against U.S. companies and reiterated that regulatory measures on large technology platforms are based on market fairness and platform responsibility, rather than national bias. This move may once again raise trade tensions between the United States and Europe and affect the global layout of the technology industry.

Trump's trade threat against digital taxes represents another escalation of his protectionist policies against the U.S. technology industry. The EU emphasizes that regulatory actions are universal and in line with the principles of the rule of law. This issue may affect the future direction of transatlantic science and technology supervision and trade policies, and deepen the global debate on digital sovereignty.

• Trump's tough stance puts pressure on digital tax countries
  川普于社群平台表示，将对未撤销DST的国家加征出口关税，并限制美国高科技与晶片出口，呼吁他国「尊重美国科技公司」。

• EU insists regulatory policies are not targeted at US companies
  欧盟执委会表示，数位市场法（DMA）与数位服务法（DSA）适用于所有在欧营运平台，包括中国平台如TikTok与Temu，反驳美方歧视指控。

• DST becomes core issue in US-EU trade negotiations
  川普先前曾以DST为由暂停与加拿大的贸易谈判，并强调数位税为「歧视性课征」。类似争议恐扩大至其他已立法课征DST的国家。

• US technology giants are directly impacted by DST
  DST多数针对营收高的跨国平台企业，如Meta (META)、Alphabet (GOOGL)、亚马逊 (AMZN)，因此美方将其视为不对等对待。

• Dispute over technology regulation and digital sovereignty heats up
  欧盟认为科技巨头应负责处理非法内容并缴纳合理税赋，与美方「自由市场导向」出现制度性差异，恐持续引发跨境政策冲突。

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Apple will hold an autumn press conference on September 9, focusing on integrating iPhone 17 and AI

Apple (AAPL) announced that it will hold its annual fall presentation on September 9, U.S. Western Time. It is expected to launch a new iPhone 17 series and release new Apple Watch, iPad Pro and upgraded Vision Pro devices. With the slogan "Awe dropping", the outside world focused on not only new hardware, but also on how Apple can strengthen the AI application of devices to respond to challenges from competitors such as Samsung and Huawei. This move is seen as Apple's response to its slow AI transformation and also affects its future hardware and software integration strategy.

As the AI wave sweeps across the technology industry, Apple is revitalizing market attention through a new generation of iPhones and AI feature updates, and further deepening its advantages in the hardware and software ecosystem. This conference is not only a new product debut, but also a turning point for Apple to face industrial changes.

• iPhone 17 debuts as the highlight of the year
  苹果预期发表新一代iPhone 17系列，包括传闻中的「iPhone Air」轻量化版本，主打设计与便携性，可能牺牲部分电池与相机性能。

• AI applications are integrated into focus
  发表会将展示更多AI功能整合，包括新版作业系统「液态玻璃」介面，力求赶上AI竞争者如三星与中国品牌的脚步。

• Comprehensive upgrade of hardware product line
  苹果将推出新款Apple Watch，包括入门与高阶版本，并预计更新iPad Pro与更快的Vision Pro头戴式装置。

• US-China trade pressure affects production layout
  面对美国对中国与印度制造品加征关税压力，苹果加码投资美国本土生产，未来四年将投入高达6,000亿美元。

• The press conference will be pre-recorded online format
  自2020年以来，苹果改采预录影片发表新品，此次活动将在官网同步直播，继续延续疫情后的数位发布模式。

Meta launches California Super Political Action Committee and a $50 billion AI data center to strengthen policy influence and technology layout

Meta (META) announced the establishment of a California Political Action Committee (PAC) with AI at its core to support state candidates who advocate technology-friendly and light regulation, while accelerating the construction of an AI data center in Louisiana that is estimated to cost US$50 billion. This move highlights that Meta is using both funding and political influence to try to dominate the development of future AI policies. Although the company emphasizes promoting innovation and safety in parallel, its cooperation with the National Parent Teacher Association (PTA) has also raised questions about its image of "whitewashing" youth protection.

Meta is using huge capital investment and political mobilization to pave the way for its AI development and actively create a favorable policy environment. However, it is facing increasing attention and backlash from private and regulatory agencies to its children's security and digital governance.

• Launch pro-AI Political Action Committee
  Meta宣布成立加州专属PAC「Mobilizing Economic Transformation Across California」，支持无论党派、主张AI友善政策的候选人，为2026年州长选举布局。

• Spend $50 billion to build an AI data center
  总统川普透露，Meta于路易斯安那州Richland Parish的新AI资料中心预计耗资500亿美元，将成为其最大数据中心，强化超级智慧与运算能力。

• Cooperation with PTA sparks controversy
  Tech Transparency Project报告指出，Meta长期资助PTA推广其青少年安全功能，疑似利用其教育公信力淡化对平台伤害青少年的批评。

• Facing pressure from parents and law enforcement agencies
  家长团体与联邦机构对Meta平台上性勒索、上瘾设计与内容风险表示关切，并提出多起诉讼，质疑其对未成年使用者保护不足。

• Actively attract investment and industrial allies
  Meta与PIMCO、Blue Owl Capital合作筹资290亿美元建设数据中心，并与风投Andreessen Horowitz、OpenAI高层联手推动AI相关政治资金网络。

AT&T buys EchoStar spectrum assets for $23 billion to accelerate 5G and fiber network expansion

AT&T (T) announced that it will acquire EchoStar's (SATS)'s approximately 50 MHz national wireless spectrum assets for approximately US$23 billion in cash, a move that will strengthen its 5G and fiber network coverage and help resolve regulatory disputes between EchoStar and the FCC. EchoStar's share price soared more than 70% on news. The deal not only strengthens AT&T's spectrum in the middle and low-frequency bands, but also allows EchoStar to continue to develop Boost Mobile's hybrid virtual mobile network business and relieve pressure from SpaceX's accusation that its spectrum is idle.

AT&T expands key spectrum resources through acquisitions and enhances market competitiveness, while EchoStar uses this to transform its operating model and resolve regulatory risks. Both parties each take what they need, which is a strategically complementary transaction.

• AT&T strengthens spectrum layout
  此笔交易涵盖约50 MHz的中低频段频谱，横跨美国400多个市场，为AT&T扩张5G与纤维服务提供关键资源。

• EchoStar shares rise
  收购消息公布后，EchoStar股价大涨逾70%，反映市场对其资产变现与监管风险释放的正面看法。

• Relieving FCC regulatory pressure
  EchoStar表示此次交易有助于解决FCC针对其频谱使用情形的查核问题，过去曾遭SpaceX批评未善用中频频谱。

• Expand Boost Mobile business model
  双方将扩大网路合作协议，允许EchoStar以Boost Mobile品牌继续提供混合型行动服务，转型为虚拟行动网路业者（MVNO）。

• The transaction is expected to be completed in mid-2026
  此笔交易仍需通过监管审查，预计将于2026年中完成，AT&T强调此案对消费者与产业皆具正面效益。