美股策略周报：市场情绪进入极度恐惧区间，已具备触底反弹条件

Macro Data - The Consumer Confidence Index for February dropped to 98.3, below the expected 102.5 and previous value of 104.1[4] - New home sales in January fell by 10.5% month-on-month to 657,000 units, lower than the expected 680,000 units and previous 734,000 units[7] - The median new home sales price increased by 7.5% month-on-month to $446,300, reaching a 27-month high[7] - The annualized GDP growth rate for Q4 was 2.3%, in line with expectations, but showed a slowdown compared to the previous quarter[12] Market Sentiment - Market sentiment shifted from 'fear' to 'extreme fear', with a fear and greed index reading of 20[21] - Historically, when the sentiment enters the 'extreme fear' zone, the S&P 500 index tends to rebound[21] Earnings and Market Performance - 77% of S&P 500 companies reported Q4 EPS above expectations, with a year-on-year EPS growth of 17.8%, the highest since Q4 2021[4] - The S&P 500's Q1 EPS forecast was downgraded by 3.5%, from$ 62.89 to $60.66, exceeding historical average downgrades[4] Global Market Overview - Global equity markets experienced a weekly decline of 1.3%, with emerging markets down 4.4% and developed markets down 1.0%[22] - Bitcoin saw a significant drop of 11.7% over the week[22] Sector Performance - Among 36 secondary sectors, 19 sectors rose, primarily traditional industries, while 17 sectors fell, mainly in technology[25] - The strongest performing sectors included non-bank financials, pharmaceuticals, and real estate, with 26 sectors outperforming the S&P 500[25]