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2021-03-29

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Stock market rally is sputtering out, with tech the biggest risk to S&P 500, says this strategist<blockquote>这位策略师表示，股市反弹正在减弱，科技股是标普500面临的最大风险</blockquote>

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Some of those headline projections include year-over-year economic growth estimates as strong as 8% for 2021 and earnings growth of 25% this year.<blockquote>这主要是因为市场已经对未来 12 至 18 个月的基本增长预期进行了定价。其中一些总体预测包括 2021 年同比经济增长预期高达 8%，今年盈利增长 25%。</blockquote> And the strategist said that these bullish growth projections are out of focus. “Those are extraordinary numbers, but if you compare them to a normal year, they’re not anywhere near as impressive as they initially seem,” Maley said. The year-over-year estimates are comparisons to 2020—when the global economy all but shut down and company earnings were battered by the COVID-19 pandemic.<blockquote>这位策略师表示，这些乐观的增长预测已经失去了重点。“马利说：”这些数字非同寻常，但如果将它们与正常年份进行比较，就会发现它们远没有最初看起来那么令人印象深刻。同比预测是与 2020 年的比较——当时全球经济几乎停摆，公司盈利受到 COVID-19 大流行的打击。</blockquote> “More importantly, they do not justify a further rally in the stock market,” Maley said. “Something else is going to have to fuel a rally of significance.”<blockquote>“马利说：”更重要的是，它们并不能证明股市进一步上涨是合理的。“必须有其他东西来推动一场重要的集会”。</blockquote> Valuations are “extreme,” according to Maley, and this expensive market “tells us that the upside is very limited,” with the risks “quite high” that a full-blown correction is coming.<blockquote>马利认为，估值是 “极端的”，而这个昂贵的市场 “告诉我们，上涨空间非常有限”，全面调整即将到来的风险 “相当高”。</blockquote> The investment firm’s main concern right now is the divergence between the S&amp;P 500SPXindex and technology stocks. The blue-chip index can hold up if there is weakness in the tech sector, but “once that weakness becomes more pronounced, it has always had a negative impact on the broader stock market,” Maley said.<blockquote>这家投资公司目前主要关注的是标准普尔 500SPXI 指数与科技股之间的背离。如果科技板块疲软，蓝筹股指数可以坚持下去，但 “一旦这种疲软变得更加明显，它总是会对整个股市产生负面影响，”马利说。</blockquote> Every time the NasdaqCOMPhas fallen between 12% and 14% in the last 40 years, it has created “material pullback” in the S&amp;P 500, the strategist said. “If that correction becomes more than 15% in the Nasdaq, the S&amp;P has always fallen at least 10% as well (and usually quite a bit more than 10%),” Maley said.<blockquote>这位策略师说，在过去的 40 年里，纳斯达克指数每次下跌 12% 到 14% 之间，都会在标普500造成 “实质性回调”。“马利说：”如果纳斯达克的调整幅度超过 15%，标准普尔指数也总是至少下跌 10%（通常会超过 10%）。</blockquote> The divergence between the S&amp;P 500 and Nasdaq is reasserting itself once again, Maley said. If the tech-heavy index moves much lower, it will “raise a serious warning flag” for both the Nasdaq and the broader stock market.<blockquote>马利说，标普500和纳斯达克之间的分歧再次显现出来。如果以科技股为主的指数大幅走低，将为纳斯达克和更广泛的股市 “敲响严重的警钟”。</blockquote> The buzz<blockquote>嗡嗡声</blockquote> The massive container ship that has blocked the Suez Canal and disrupted global trade for the last week is still stuck, but perhaps not for long. The Ever Givenwas successfully refloatedearly on Monday morning and tug boats are working to straighten the ship out.<blockquote>上周堵塞苏伊士运河并扰乱全球贸易的大型集装箱船仍被困，但可能不会持续太久。Ever Givenwas 于周一早上成功重新漂浮，拖船正在努力将船拉直。</blockquote> The end of last week was marked bymassive block tradesworth around $30 billion, triggered by amargin call of U.S. investor Archegos Capital Management. The selloff pushed shares in media groups ViacomCBSVIACAand DiscoveryDISCAdown more than 27% on Friday and hit some Chinese internet stocks.<blockquote>上周末，由美国投资者 Archegos Capital Management 的 amargin 看涨期权引发的大宗交易价值约为 300 亿美元。此次抛售导致媒体集团维亚康姆、哥伦比亚广播公司、维亚卡和探索频道的股价周五下跌超过 27%，并打击了一些中国互联网股票。</blockquote> And banks tied to the fire sale on Fridayare feeling the heat. Shares in Japan’s NomuraJP:8604and Switzerland’s Credit SuisseCH:CSGNdived on Monday,after both groups extended creditto a major client that couldn’t meet its obligations. TheSwiss group said lossesfrom exiting positions as a result could have a “highly significant and material” impact on earnings.<blockquote>与周五大甩卖相关的银行也感受到了压力。日本野村证券（NomuraJP:8604）和瑞士瑞士信贷（Credit SuisseCH:CSG）的股价周一下跌，此前这两家集团都向一家无法履行义务的大客户提供了信贷。这家瑞士集团表示，因此平仓造成的损失可能会对盈利产生 “非常重大和实质性 ”的影响。</blockquote> It is a light day on the economic front, with the Chicago Fed national activity index for February due at 8:30 a.m. Eastern, followed by existing home sales data for February at 10 a.m.<blockquote>经济方面今天是光明的一天，芝加哥联储2月份全国活动指数将于上午8:30公布。东部，其次是上午 10 点的 2 月份现有房屋销售数据。</blockquote> Lawmakers in Albany reached a deal on Saturday toallow sales of cannabis for recreational use, opening the door for New York to join the growing list of states that have legalized marijuana. A vote on the bill could come by Tuesday.<blockquote>奥尔巴尼的立法者周六达成协议，允许销售娱乐用大麻，为纽约州加入越来越多的大麻合法化州名单打开了大门。该法案可能会在周二进行投票。</blockquote> British online car retailerCazoo is set to floaton the New York Stock Exchange in a listing worth $7 billion, after agreeing to a merger deal with a blank-check, special-purpose acquisition company (SPAC). Cazoo’s planned merger with AJAX I will bring the SPAC’s billionaire investor Dan Och onto the company’s board.<blockquote>英国在线汽车零售商 Cazoo 在与一家空白支票特殊目的收购公司 (SPAC) 达成合并协议后，将在纽约证券交易所上市，价值 70 亿美元。Cazoo 计划与 AJAX I 合并，这将使 SPAC 的亿万富翁投资者 Dan Och 进入公司董事会。</blockquote> The markets<blockquote>市场</blockquote> U.S. stock market futures are pointing downDJIA FUTURESSP 500 FUTURESNASDAQ 100 FUTURES,set for a weak open to start the new trading week.Bank stocks remain under pressurein the fallout from Friday’s Archegos unwinds, with Deutsche BankXE:DBKand UBSUBSamong the fallers and shares in Goldman SachsGSand Morgan StanleyMSlower in the premarket.<blockquote>美国股市期货走低贾亚期货标准普尔500期货纳斯达克100期货开盘疲软，开始新的交易周。受周五 Archegos 解散的影响，银行股仍面临压力，德意志银行 (Deutsche BankXE:DBK) 和 UBSUB 跌幅居前，高盛 (Goldman SachsGS) 和摩根士丹利 (Morgan Stanley) 的股价在盘前走低。</blockquote> European indexes were mixedUK:UKXDX:DAXFR:PX1while Asian equitiesJP:NIKHK:HSICN:SHCOMPfinished Monday in the green.<blockquote>欧洲指数涨跌互现EDUK:UKXDX:DAXFR:PX1，而亚洲股市JP:NIKHK:HSICN:SHCOMP周一收盘上涨。</blockquote> The chart<blockquote>图表</blockquote> <img src=\"https://static.tigerbbs.com/7f2012ecbcf58fc6082ae302c199e922\" tg-width=\"1260\" tg-height=\"575\">The market “is in a very healthy place right now,” said Michael Batnick ofThe Irrelevant Investorfinancial blog. In our chart of the day, Batnick shows that 93% of the stocks in the S&amp;P 500 are above their 200-day moving average—the highest reading since 2013 levels.<blockquote>无关紧要的投资者金融博客的迈克尔-巴特尼克（Michael Batnick）说，市场 “目前处于非常健康的状态”。在我们今天的图表中，Batnick 显示标普500 93% 的股票高于 200 天移动平均线，这是自 2013 年水平以来的最高读数。</blockquote>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock market rally is sputtering out, with tech the biggest risk to S&P 500, says this strategist<blockquote>这位策略师表示，股市反弹正在减弱，科技股是标普500面临的最大风险</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock market rally is sputtering out, with tech the biggest risk to S&P 500, says this strategist<blockquote>这位策略师表示，股市反弹正在减弱，科技股是标普500面临的最大风险</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nmarketwatch2021-03-29 20:38\n\n</h4>\n</header>\n<article>\nThe S&amp;P 500 index touched a record high on Friday for the 15th time this year, but stock market futures are pointing to a more muted start to the trading week.<blockquote>标普500指数周五创下今年第15次历史新高，但股市期货预示着交易周的开局将更加平静。</blockquote> Even if stocks can keep rallying, the upside will be very limited, said Matt Maley, a strategist at investment firm Miller Tabak + Co., in ourcall of the day.<blockquote>投资公司 Miller Tabak + Co. 策略师马特·马利 (Matt Maley) 在我们的报告中表示，即使股市能够继续上涨，上涨空间也将非常有限今日看涨期权.</blockquote> Maley said there “is no question that the stock market could rise further from current levels,” but his team believes that any more gains won’t be due to fundamentals.<blockquote>马利说，“毫无疑问，股市可能会从目前的水平进一步上涨”，但他的团队认为，进一步的上涨不会是由于基本面因素造成的。</blockquote> This is largely because the market has already priced in fundamental growth expectations over the next 12 to 18 months. Some of those headline projections include year-over-year economic growth estimates as strong as 8% for 2021 and earnings growth of 25% this year.<blockquote>这主要是因为市场已经对未来 12 至 18 个月的基本增长预期进行了定价。其中一些总体预测包括 2021 年同比经济增长预期高达 8%，今年盈利增长 25%。</blockquote> And the strategist said that these bullish growth projections are out of focus. “Those are extraordinary numbers, but if you compare them to a normal year, they’re not anywhere near as impressive as they initially seem,” Maley said. The year-over-year estimates are comparisons to 2020—when the global economy all but shut down and company earnings were battered by the COVID-19 pandemic.<blockquote>这位策略师表示，这些乐观的增长预测已经失去了重点。“马利说：”这些数字非同寻常，但如果将它们与正常年份进行比较，就会发现它们远没有最初看起来那么令人印象深刻。同比预测是与 2020 年的比较——当时全球经济几乎停摆，公司盈利受到 COVID-19 大流行的打击。</blockquote> “More importantly, they do not justify a further rally in the stock market,” Maley said. “Something else is going to have to fuel a rally of significance.”<blockquote>“马利说：”更重要的是，它们并不能证明股市进一步上涨是合理的。“必须有其他东西来推动一场重要的集会”。</blockquote> Valuations are “extreme,” according to Maley, and this expensive market “tells us that the upside is very limited,” with the risks “quite high” that a full-blown correction is coming.<blockquote>马利认为，估值是 “极端的”，而这个昂贵的市场 “告诉我们，上涨空间非常有限”，全面调整即将到来的风险 “相当高”。</blockquote> The investment firm’s main concern right now is the divergence between the S&amp;P 500SPXindex and technology stocks. The blue-chip index can hold up if there is weakness in the tech sector, but “once that weakness becomes more pronounced, it has always had a negative impact on the broader stock market,” Maley said.<blockquote>这家投资公司目前主要关注的是标准普尔 500SPXI 指数与科技股之间的背离。如果科技板块疲软，蓝筹股指数可以坚持下去，但 “一旦这种疲软变得更加明显，它总是会对整个股市产生负面影响，”马利说。</blockquote> Every time the NasdaqCOMPhas fallen between 12% and 14% in the last 40 years, it has created “material pullback” in the S&amp;P 500, the strategist said. “If that correction becomes more than 15% in the Nasdaq, the S&amp;P has always fallen at least 10% as well (and usually quite a bit more than 10%),” Maley said.<blockquote>这位策略师说，在过去的 40 年里，纳斯达克指数每次下跌 12% 到 14% 之间，都会在标普500造成 “实质性回调”。“马利说：”如果纳斯达克的调整幅度超过 15%，标准普尔指数也总是至少下跌 10%（通常会超过 10%）。</blockquote> The divergence between the S&amp;P 500 and Nasdaq is reasserting itself once again, Maley said. If the tech-heavy index moves much lower, it will “raise a serious warning flag” for both the Nasdaq and the broader stock market.<blockquote>马利说，标普500和纳斯达克之间的分歧再次显现出来。如果以科技股为主的指数大幅走低，将为纳斯达克和更广泛的股市 “敲响严重的警钟”。</blockquote> The buzz<blockquote>嗡嗡声</blockquote> The massive container ship that has blocked the Suez Canal and disrupted global trade for the last week is still stuck, but perhaps not for long. The Ever Givenwas successfully refloatedearly on Monday morning and tug boats are working to straighten the ship out.<blockquote>上周堵塞苏伊士运河并扰乱全球贸易的大型集装箱船仍被困，但可能不会持续太久。Ever Givenwas 于周一早上成功重新漂浮，拖船正在努力将船拉直。</blockquote> The end of last week was marked bymassive block tradesworth around $30 billion, triggered by amargin call of U.S. investor Archegos Capital Management. The selloff pushed shares in media groups ViacomCBSVIACAand DiscoveryDISCAdown more than 27% on Friday and hit some Chinese internet stocks.<blockquote>上周末，由美国投资者 Archegos Capital Management 的 amargin 看涨期权引发的大宗交易价值约为 300 亿美元。此次抛售导致媒体集团维亚康姆、哥伦比亚广播公司、维亚卡和探索频道的股价周五下跌超过 27%，并打击了一些中国互联网股票。</blockquote> And banks tied to the fire sale on Fridayare feeling the heat. Shares in Japan’s NomuraJP:8604and Switzerland’s Credit SuisseCH:CSGNdived on Monday,after both groups extended creditto a major client that couldn’t meet its obligations. TheSwiss group said lossesfrom exiting positions as a result could have a “highly significant and material” impact on earnings.<blockquote>与周五大甩卖相关的银行也感受到了压力。日本野村证券（NomuraJP:8604）和瑞士瑞士信贷（Credit SuisseCH:CSG）的股价周一下跌，此前这两家集团都向一家无法履行义务的大客户提供了信贷。这家瑞士集团表示，因此平仓造成的损失可能会对盈利产生 “非常重大和实质性 ”的影响。</blockquote> It is a light day on the economic front, with the Chicago Fed national activity index for February due at 8:30 a.m. Eastern, followed by existing home sales data for February at 10 a.m.<blockquote>经济方面今天是光明的一天，芝加哥联储2月份全国活动指数将于上午8:30公布。东部，其次是上午 10 点的 2 月份现有房屋销售数据。</blockquote> Lawmakers in Albany reached a deal on Saturday toallow sales of cannabis for recreational use, opening the door for New York to join the growing list of states that have legalized marijuana. A vote on the bill could come by Tuesday.<blockquote>奥尔巴尼的立法者周六达成协议，允许销售娱乐用大麻，为纽约州加入越来越多的大麻合法化州名单打开了大门。该法案可能会在周二进行投票。</blockquote> British online car retailerCazoo is set to floaton the New York Stock Exchange in a listing worth $7 billion, after agreeing to a merger deal with a blank-check, special-purpose acquisition company (SPAC). Cazoo’s planned merger with AJAX I will bring the SPAC’s billionaire investor Dan Och onto the company’s board.<blockquote>英国在线汽车零售商 Cazoo 在与一家空白支票特殊目的收购公司 (SPAC) 达成合并协议后，将在纽约证券交易所上市，价值 70 亿美元。Cazoo 计划与 AJAX I 合并，这将使 SPAC 的亿万富翁投资者 Dan Och 进入公司董事会。</blockquote> The markets<blockquote>市场</blockquote> U.S. stock market futures are pointing downDJIA FUTURESSP 500 FUTURESNASDAQ 100 FUTURES,set for a weak open to start the new trading week.Bank stocks remain under pressurein the fallout from Friday’s Archegos unwinds, with Deutsche BankXE:DBKand UBSUBSamong the fallers and shares in Goldman SachsGSand Morgan StanleyMSlower in the premarket.<blockquote>美国股市期货走低贾亚期货标准普尔500期货纳斯达克100期货开盘疲软，开始新的交易周。受周五 Archegos 解散的影响，银行股仍面临压力，德意志银行 (Deutsche BankXE:DBK) 和 UBSUB 跌幅居前，高盛 (Goldman SachsGS) 和摩根士丹利 (Morgan Stanley) 的股价在盘前走低。</blockquote> European indexes were mixedUK:UKXDX:DAXFR:PX1while Asian equitiesJP:NIKHK:HSICN:SHCOMPfinished Monday in the green.<blockquote>欧洲指数涨跌互现EDUK:UKXDX:DAXFR:PX1，而亚洲股市JP:NIKHK:HSICN:SHCOMP周一收盘上涨。</blockquote> The chart<blockquote>图表</blockquote> <img src=\"https://static.tigerbbs.com/7f2012ecbcf58fc6082ae302c199e922\" tg-width=\"1260\" tg-height=\"575\">The market “is in a very healthy place right now,” said Michael Batnick ofThe Irrelevant Investorfinancial blog. In our chart of the day, Batnick shows that 93% of the stocks in the S&amp;P 500 are above their 200-day moving average—the highest reading since 2013 levels.<blockquote>无关紧要的投资者金融博客的迈克尔-巴特尼克（Michael Batnick）说，市场 “目前处于非常健康的状态”。在我们今天的图表中，Batnick 显示标普500 93% 的股票高于 200 天移动平均线，这是自 2013 年水平以来的最高读数。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/stock-market-rally-is-sputtering-out-with-tech-the-biggest-risk-to-s-p-500-says-this-strategist-11617016581\">marketwatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/stock-market-rally-is-sputtering-out-with-tech-the-biggest-risk-to-s-p-500-says-this-strategist-11617016581","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175939614","content_text":"The S&P 500 index touched a record high on Friday for the 15th time this year, but stock market futures are pointing to a more muted start to the trading week.\nEven if stocks can keep rallying, the upside will be very limited, said Matt Maley, a strategist at investment firm Miller Tabak + Co., in ourcall of the day.\nMaley said there “is no question that the stock market could rise further from current levels,” but his team believes that any more gains won’t be due to fundamentals.\nThis is largely because the market has already priced in fundamental growth expectations over the next 12 to 18 months. Some of those headline projections include year-over-year economic growth estimates as strong as 8% for 2021 and earnings growth of 25% this year.\nAnd the strategist said that these bullish growth projections are out of focus. “Those are extraordinary numbers, but if you compare them to a normal year, they’re not anywhere near as impressive as they initially seem,” Maley said. The year-over-year estimates are comparisons to 2020—when the global economy all but shut down and company earnings were battered by the COVID-19 pandemic.\n“More importantly, they do not justify a further rally in the stock market,” Maley said. “Something else is going to have to fuel a rally of significance.”\nValuations are “extreme,” according to Maley, and this expensive market “tells us that the upside is very limited,” with the risks “quite high” that a full-blown correction is coming.\nThe investment firm’s main concern right now is the divergence between the S&P 500SPXindex and technology stocks. The blue-chip index can hold up if there is weakness in the tech sector, but “once that weakness becomes more pronounced, it has always had a negative impact on the broader stock market,” Maley said.\nEvery time the NasdaqCOMPhas fallen between 12% and 14% in the last 40 years, it has created “material pullback” in the S&P 500, the strategist said. “If that correction becomes more than 15% in the Nasdaq, the S&P has always fallen at least 10% as well (and usually quite a bit more than 10%),” Maley said.\nThe divergence between the S&P 500 and Nasdaq is reasserting itself once again, Maley said. If the tech-heavy index moves much lower, it will “raise a serious warning flag” for both the Nasdaq and the broader stock market.\nThe buzz\nThe massive container ship that has blocked the Suez Canal and disrupted global trade for the last week is still stuck, but perhaps not for long. The Ever Givenwas successfully refloatedearly on Monday morning and tug boats are working to straighten the ship out.\nThe end of last week was marked bymassive block tradesworth around $30 billion, triggered by amargin call of U.S. investor Archegos Capital Management. The selloff pushed shares in media groups ViacomCBSVIACAand DiscoveryDISCAdown more than 27% on Friday and hit some Chinese internet stocks.\nAnd banks tied to the fire sale on Fridayare feeling the heat. Shares in Japan’s NomuraJP:8604and Switzerland’s Credit SuisseCH:CSGNdived on Monday,after both groups extended creditto a major client that couldn’t meet its obligations. TheSwiss group said lossesfrom exiting positions as a result could have a “highly significant and material” impact on earnings.\nIt is a light day on the economic front, with the Chicago Fed national activity index for February due at 8:30 a.m. Eastern, followed by existing home sales data for February at 10 a.m.\nLawmakers in Albany reached a deal on Saturday toallow sales of cannabis for recreational use, opening the door for New York to join the growing list of states that have legalized marijuana. A vote on the bill could come by Tuesday.\nBritish online car retailerCazoo is set to floaton the New York Stock Exchange in a listing worth $7 billion, after agreeing to a merger deal with a blank-check, special-purpose acquisition company (SPAC). Cazoo’s planned merger with AJAX I will bring the SPAC’s billionaire investor Dan Och onto the company’s board.\nThe markets\nU.S. stock market futures are pointing downDJIA FUTURESSP 500 FUTURESNASDAQ 100 FUTURES,set for a weak open to start the new trading week.Bank stocks remain under pressurein the fallout from Friday’s Archegos unwinds, with Deutsche BankXE:DBKand UBSUBSamong the fallers and shares in Goldman SachsGSand Morgan StanleyMSlower in the premarket.\nEuropean indexes were mixedUK:UKXDX:DAXFR:PX1while Asian equitiesJP:NIKHK:HSICN:SHCOMPfinished Monday in the green.\nThe chart\nThe market “is in a very healthy place right now,” said Michael Batnick ofThe Irrelevant Investorfinancial blog. In our chart of the day, Batnick shows that 93% of the stocks in the S&P 500 are above their 200-day moving average—the highest reading since 2013 levels.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":793,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":36,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/355916734"}