每个交易日，由吉姆·克莱默主持的CNBC投资俱乐部都会推出《最后冲刺》——一份可据以行动的午后市场更新，正赶上华尔街最后一个交易小时。周五股市走高，本周有望录得涨幅。尽管国债收益率飙升，标普500指数和纳斯达克指数依然走强。周五，10年期美国国债收益率一度升至5.23%，达到2007年6月中旬以来的最高水平。收益率飙升源于通胀担忧，而高企的油价又加剧了这种担忧。尽管西德克萨斯中质原油周五走低，并有望结束连续三周的涨势，但自2月下旬伊朗战争爆发以来，该油价仍累计上涨近40%。上周，美联储三年来首次加息，试图推动通胀向央行2%的目标水平回落。CME的“美联储观察”工具显示，市场预计年底前将再加息一次，甚至可能再加息一次。自9月16日加息以来，银行股累计下跌约4%，这一表现以代码为XLF的道富银行金融精选行业ETF为基准。我们关注的四家银行——富国银行、第一资本、高盛和BNY——均随金融板块下跌。周五的评论已发至会员邮箱，我们曾在评论中指出，不应笼统地给整个板块定性。微软对其Copilot人工智能工具进行了重大升级，市场对此次改版颇为买账，推动这家云计算和软件巨头的股价上涨逾4%。在周五的交易时段中，微软是“七巨头”里表现最最好的成员。其股价也远远高于一篮子软件股，而后者所在的iShares扩展科技软件行业ETF下跌约0.4%。本次更新的核心是一款全新、功能全面的Copilot应用。首先，该应用将现有的Copilot功能整合到一个平台中，包括一款名为Chat的简易聊天机器人，以及一个名为Cowork的更高级版本。
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks were higher Friday and headed for a winning week . The strength in the S & P 500 and Nasdaq came despite soaring bond yields. The 10-year Treasury yield briefly reached 5.23% on Friday, a level not seen since mid-June 2007. The surge in yields has been driven by concerns about inflation, which has been stoked by elevated oil prices. While lower Friday and set to break three straight weeks of higher prices, West Texas Intermediate crude is still up nearly 40% since the Iran war started in late February. Last week, the Federal Reserve raised interest rates for the first time in three years, in a move to try to put inflation on a path towards the central bank's 2% target. According to the CME FedWatch tool, the market sees a second rate increase by the end of the year, and possibly one more. Bank stocks have lost roughly 4% since the Sept. 16 rate hike, as measured by the State Street Financial Select Sector ETF , ticker symbol XLF. Our four banks — Wells Fargo , Capital One , Goldman Sachs , and BNY — have traded down with the rest of the financials. In Friday commentary already in members' email inboxes, we argued that the market should not be painting the sector with a broad brush. Microsoft has given its Copilot AI tool a major facelift — and the market likes what it sees, sending shares of the cloud and software giant up more than 4%. Microsoft is the best-performing member of the "Magnificent Seven" in Friday's session. It's also levitating above a basket of software stocks, the iShares Expanded Tech-Software Sector ETF , which is down about 0.4%. At the heart of the update is a new, comprehensive Copilot app. For starters, the app integrates existing Copilot capabilities such as a simple chatbot (known as Chat) and a more advanced version (known as Cowork) into one place. It also adds a new Code feature, targeted for use by non-technical employees, and an Autopilot tab, where people can create autonomous agents to complete certain tasks. The key is housing all these AI capabilities within a singular Copilot app. Microsoft Office, which includes Word and Excel, is now fully embedded in the Copilot app, CEO Satya Nadella wrote on social media. Nadella argued this is the "biggest update to Copilot to date." Microsoft's Copilot pricing strategy is also evolving as part of the overhaul. While the basic Chat functionality will remain covered a flat, per-user license fee, the more advanced Cowork, Code and Autopilot features will be priced based on usage. "Every era of technology has basically had a new kind of defining interface," Jacob Andreou, executive vice president for Microsoft Copilot, said on CNBC earlier Friday. "For the PC era, Office became that interface for work for so many people. And with Copilot, that's really going to become this interface to AI, especially when you're bringing it to the workplace." In the race to bring AI to the enterprise, Microsoft has been criticized for falling behind Anthropic's Claude and OpenAI's ChatGPT, so Friday's exuberant market reaction is notable. Microsoft's messaging also suggests a sharper focus on business customers rather than the consumer chatbot horse race. We have no issues with ceding AI consumer to the likes of Apple , Google and Meta , all of which are more consumer-oriented than Microsoft. "We believe this is MSFT's 'super app' that has been speculated on for months and view the updates favorably," analysts at Piper Sandler wrote to clients Friday. The narrative around Copilot has "improved materially" this year, they added. We agree with them. Microsoft's earnings report in July rewarded us for our patience with the stock, and for our trust in Nadella and CFO Amy Hood. Injecting life into Copilot is another reason to be grateful we stuck around. Coming up next week , both sides of the Fed's dual mandate of maximizing employment and fostering stable prices come into focus. The September ADP report on private sector hiring comes out on Wednesday, and the government releases weekly jobless claims on Thursday. It all leads up to Friday's government monthly employment report. Despite simmering inflation, the job picture has been pretty good. However, economists expect about 85,000 nonfarm jobs to have been created in September, just over half the additions from the prior month. The stable-prices mandate will be in the spotlight Wednesday morning. The Fed's preferred inflation gauge, the PCE price index for August, is expected to remain well above the Fed's 2% target. Also on the calendar, Club name Micron reports earnings on Wednesday evening. The stock has ridden the soaring prices from the global memory shortage to year-to-date gains of nearly 280%. In this environment, a beat and raise might be the bare minimum to avoid a steep post-earnings decline. The memory trade, while on fire in 2026, has been volatile. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As ar to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
它还新增了一项面向非技术员工的Code功能，以及一个Autopilot选项卡，用户可以在其中创建自主智能体来执行特定任务。其核心是将所有这些AI能力整合到一个Copilot应用中。微软首席执行官萨提亚·纳德拉在社交媒体上写道，包含Word和Excel在内的微软Office现已全面嵌入Copilot应用。纳德拉表示，这是“迄今为止Copilot最大的一次更新”。作为此次全面改版的一部分，微软Copilot的定价策略也在调整。基础Chat功能仍将纳入统一的每用户许可费中，而更高级的Cowork、Code和Autopilot功能则将根据使用量收费。微软Copilot执行副总裁雅各布·安德烈乌周五早些时候在CNBC上说：“每个技术时代基本上都有一种新的标志性界面。PC时代，Office成为许多人处理工作的界面。而有了Copilot，它确实将成为AI的界面，尤其是在你把它带入职场的时候。”在将AI引入企业的竞争中，微软因落后于Anthropic的Claude和OpenAI的ChatGPT而受到批评，因此周五市场的热烈反应格外引人关注。微软的表态也表明，公司正把重点更多地放在企业客户上，而非消费者聊天机器人领域的竞争。对于将AI消费者市场让给苹果、谷歌和Meta等更偏重消费者市场的公司，我们并无异议。Piper Sandler的分析师周五在致客户的报告中写道：“我们认为，这就是外界数月以来一直推测的微软‘超级应用’，并看好此次更新。”他们补充称，围绕Copilot的叙事今年已经“得到实质性改善”。我们对此表示认同。微软7月份的财报回报了我们长期持有该股票的耐心，也印证了我们对纳德拉和首席财务官艾米·胡德的信任。Copilot焕发生机，是我们庆幸自己一直坚守至今的又一个理由。
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks were higher Friday and headed for a winning week . The strength in the S & P 500 and Nasdaq came despite soaring bond yields. The 10-year Treasury yield briefly reached 5.23% on Friday, a level not seen since mid-June 2007. The surge in yields has been driven by concerns about inflation, which has been stoked by elevated oil prices. While lower Friday and set to break three straight weeks of higher prices, West Texas Intermediate crude is still up nearly 40% since the Iran war started in late February. Last week, the Federal Reserve raised interest rates for the first time in three years, in a move to try to put inflation on a path towards the central bank's 2% target. According to the CME FedWatch tool, the market sees a second rate increase by the end of the year, and possibly one more. Bank stocks have lost roughly 4% since the Sept. 16 rate hike, as measured by the State Street Financial Select Sector ETF , ticker symbol XLF. Our four banks — Wells Fargo , Capital One , Goldman Sachs , and BNY — have traded down with the rest of the financials. In Friday commentary already in members' email inboxes, we argued that the market should not be painting the sector with a broad brush. Microsoft has given its Copilot AI tool a major facelift — and the market likes what it sees, sending shares of the cloud and software giant up more than 4%. Microsoft is the best-performing member of the "Magnificent Seven" in Friday's session. It's also levitating above a basket of software stocks, the iShares Expanded Tech-Software Sector ETF , which is down about 0.4%. At the heart of the update is a new, comprehensive Copilot app. For starters, the app integrates existing Copilot capabilities such as a simple chatbot (known as Chat) and a more advanced version (known as Cowork) into one place. It also adds a new Code feature, targeted for use by non-technical employees, and an Autopilot tab, where people can create autonomous agents to complete certain tasks. The key is housing all these AI capabilities within a singular Copilot app. Microsoft Office, which includes Word and Excel, is now fully embedded in the Copilot app, CEO Satya Nadella wrote on social media. Nadella argued this is the "biggest update to Copilot to date." Microsoft's Copilot pricing strategy is also evolving as part of the overhaul. While the basic Chat functionality will remain covered a flat, per-user license fee, the more advanced Cowork, Code and Autopilot features will be priced based on usage. "Every era of technology has basically had a new kind of defining interface," Jacob Andreou, executive vice president for Microsoft Copilot, said on CNBC earlier Friday. "For the PC era, Office became that interface for work for so many people. And with Copilot, that's really going to become this interface to AI, especially when you're bringing it to the workplace." In the race to bring AI to the enterprise, Microsoft has been criticized for falling behind Anthropic's Claude and OpenAI's ChatGPT, so Friday's exuberant market reaction is notable. Microsoft's messaging also suggests a sharper focus on business customers rather than the consumer chatbot horse race. We have no issues with ceding AI consumer to the likes of Apple , Google and Meta , all of which are more consumer-oriented than Microsoft. "We believe this is MSFT's 'super app' that has been speculated on for months and view the updates favorably," analysts at Piper Sandler wrote to clients Friday. The narrative around Copilot has "improved materially" this year, they added. We agree with them. Microsoft's earnings report in July rewarded us for our patience with the stock, and for our trust in Nadella and CFO Amy Hood. Injecting life into Copilot is another reason to be grateful we stuck around. Coming up next week , both sides of the Fed's dual mandate of maximizing employment and fostering stable prices come into focus. The September ADP report on private sector hiring comes out on Wednesday, and the government releases weekly jobless claims on Thursday. It all leads up to Friday's government monthly employment report. Despite simmering inflation, the job picture has been pretty good. However, economists expect about 85,000 nonfarm jobs to have been created in September, just over half the additions from the prior month. The stable-prices mandate will be in the spotlight Wednesday morning. The Fed's preferred inflation gauge, the PCE price index for August, is expected to remain well above the Fed's 2% target. Also on the calendar, Club name Micron reports earnings on Wednesday evening. The stock has ridden the soaring prices from the global memory shortage to year-to-date gains of nearly 280%. In this environment, a beat and raise might be the bare minimum to avoid a steep post-earnings decline. The memory trade, while on fire in 2026, has been volatile. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As ar to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
下周，美联储在实现“最大化就业”与“维持价格稳定”这两项核心目标方面的表现将受到广泛关注：私营部门就业情况的ADP报告将于周三发布，政府每周的失业数据则会在周四公布；所有这些数据最终将汇总成周五发布的官方月度就业报告。尽管通胀压力持续存在，但就业形势总体依然较为乐观。不过，经济学家预计9月份非农就业岗位的新增数量约为8.5万个，仅为上个月新增岗位数量的一半左右。周三上午，“维持价格稳定”这一目标将成为关注的焦点；美联储青睐的通胀指标——8月份的PCE价格指数——预计仍将远高于其2%的通胀目标。此外，Micron公司也将在周三晚间公布财报。由于全球内存短缺导致的股价飙升，该公司股价今年以来已上涨了近280%。在这种市场环境下，公司若能超出市场预期并上调盈利预期，至少可以避免财报发布后的股价大幅下跌。虽然2026年内存相关投资表现非常火爆，但这类投资其实具有较高的波动性。（如需查看Jim Cramer慈善信托基金所持有的全部股票名单，请参阅此处。）关于Jim Cramer主持的CNBC投资俱乐部，您会在Jim做出任何交易决策之前收到相应的交易提醒；Jim会在发送交易提醒后的45分钟内才执行其慈善信托基金中的股票买卖操作；如果Jim曾在CNBC电视节目中提及某只股票，他会在发送交易提醒后的72小时内才进行相关交易。以上关于投资俱乐部的信息均受我们的服务条款、隐私政策以及免责声明的约束；您接收的任何与投资俱乐部相关的信息均不构成任何信托责任或义务，也无法保证任何具体的投资回报或利润。
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks were higher Friday and headed for a winning week . The strength in the S & P 500 and Nasdaq came despite soaring bond yields. The 10-year Treasury yield briefly reached 5.23% on Friday, a level not seen since mid-June 2007. The surge in yields has been driven by concerns about inflation, which has been stoked by elevated oil prices. While lower Friday and set to break three straight weeks of higher prices, West Texas Intermediate crude is still up nearly 40% since the Iran war started in late February. Last week, the Federal Reserve raised interest rates for the first time in three years, in a move to try to put inflation on a path towards the central bank's 2% target. According to the CME FedWatch tool, the market sees a second rate increase by the end of the year, and possibly one more. Bank stocks have lost roughly 4% since the Sept. 16 rate hike, as measured by the State Street Financial Select Sector ETF , ticker symbol XLF. Our four banks — Wells Fargo , Capital One , Goldman Sachs , and BNY — have traded down with the rest of the financials. In Friday commentary already in members' email inboxes, we argued that the market should not be painting the sector with a broad brush. Microsoft has given its Copilot AI tool a major facelift — and the market likes what it sees, sending shares of the cloud and software giant up more than 4%. Microsoft is the best-performing member of the "Magnificent Seven" in Friday's session. It's also levitating above a basket of software stocks, the iShares Expanded Tech-Software Sector ETF , which is down about 0.4%. At the heart of the update is a new, comprehensive Copilot app. For starters, the app integrates existing Copilot capabilities such as a simple chatbot (known as Chat) and a more advanced version (known as Cowork) into one place. It also adds a new Code feature, targeted for use by non-technical employees, and an Autopilot tab, where people can create autonomous agents to complete certain tasks. The key is housing all these AI capabilities within a singular Copilot app. Microsoft Office, which includes Word and Excel, is now fully embedded in the Copilot app, CEO Satya Nadella wrote on social media. Nadella argued this is the "biggest update to Copilot to date." Microsoft's Copilot pricing strategy is also evolving as part of the overhaul. While the basic Chat functionality will remain covered a flat, per-user license fee, the more advanced Cowork, Code and Autopilot features will be priced based on usage. "Every era of technology has basically had a new kind of defining interface," Jacob Andreou, executive vice president for Microsoft Copilot, said on CNBC earlier Friday. "For the PC era, Office became that interface for work for so many people. And with Copilot, that's really going to become this interface to AI, especially when you're bringing it to the workplace." In the race to bring AI to the enterprise, Microsoft has been criticized for falling behind Anthropic's Claude and OpenAI's ChatGPT, so Friday's exuberant market reaction is notable. Microsoft's messaging also suggests a sharper focus on business customers rather than the consumer chatbot horse race. We have no issues with ceding AI consumer to the likes of Apple , Google and Meta , all of which are more consumer-oriented than Microsoft. "We believe this is MSFT's 'super app' that has been speculated on for months and view the updates favorably," analysts at Piper Sandler wrote to clients Friday. The narrative around Copilot has "improved materially" this year, they added. We agree with them. Microsoft's earnings report in July rewarded us for our patience with the stock, and for our trust in Nadella and CFO Amy Hood. Injecting life into Copilot is another reason to be grateful we stuck around. Coming up next week , both sides of the Fed's dual mandate of maximizing employment and fostering stable prices come into focus. The September ADP report on private sector hiring comes out on Wednesday, and the government releases weekly jobless claims on Thursday. It all leads up to Friday's government monthly employment report. Despite simmering inflation, the job picture has been pretty good. However, economists expect about 85,000 nonfarm jobs to have been created in September, just over half the additions from the prior month. The stable-prices mandate will be in the spotlight Wednesday morning. The Fed's preferred inflation gauge, the PCE price index for August, is expected to remain well above the Fed's 2% target. Also on the calendar, Club name Micron reports earnings on Wednesday evening. The stock has ridden the soaring prices from the global memory shortage to year-to-date gains of nearly 280%. In this environment, a beat and raise might be the bare minimum to avoid a steep post-earnings decline. The memory trade, while on fire in 2026, has been volatile. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As ar to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.