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2021-12-22

[Miser]

2021-11-04

K

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2021-09-08

[Cool]

Bitcoin Endured a Rocky Day. What's Behind the Selloff<blockquote>比特币经历了艰难的一天。抛售背后的原因</blockquote>

2021-09-07

[What]

Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>

2021-09-03

[Cool]

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2021-09-01

[What]

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2021-09-01

[Cool]

Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后Beyond Meat股市走高</blockquote>

2021-08-31

[What]

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2021-08-26

[What]

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2021-08-26

[What]

S&P 500 opens flat near a record as investors await Fed summit<blockquote>投资者等待美联储峰会，标普500开盘持平，接近历史新高</blockquote>

2021-08-25

[Cool]

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2021-08-23

[What]

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2021-08-20

[Cool]

Microsoft jumped over 1% and reached record high<blockquote>微软上涨超过1%，创历史新高</blockquote>

2021-08-19

[What]

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2021-08-18

[What]

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2021-08-17

[What]

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2021-08-16

[Miser]

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2021-08-13

[Cool]

Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</blockquote>

2021-08-11

[Cool]

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2021-08-10

[Cool]

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16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff<blockquote>比特币经历了艰难的一天。抛售背后的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p><p><blockquote>对比特币来说，这本应是快乐的一天，但却变成了溃败。</blockquote></p><p> Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p><p><blockquote>比特币（股票代码：BTC）周二下午交易价格约为 47,000 美元，在过去 24 小时内下跌 9%，今天上午跌至 42,900 美元。抛售前，比特币股价已超过 52,800 美元。</blockquote></p><p> Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p><p><blockquote>其他加密货币也陷入困境，包括以太币 (ETH)，下跌 12%，至 3,460 美元。</blockquote></p><p> The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p><p><blockquote>抛售可能反映了7月下旬价格开始上涨后的获利了结。自 7 月下旬以来，比特币股价已上涨超过 50%，当时股价约为 34,000 美元。在其底层区块链网络进行技术升级后，以太币也一直在飞翔。</blockquote></p><p> The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p><p><blockquote>萨尔瓦多成为第一个将比特币与该国另一种官方货币美元一起作为法定货币的国家后，这一低迷的一天可能也反映了 “抛售新闻 ”的动态。</blockquote></p><p> Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p><p><blockquote>萨尔瓦多的商人现在应该接受商品和服务的比特币。政府承诺在公民的数字钱包中提供价值30美元的比特币。据路透社报道，麦当劳已开始在萨尔瓦多接受比特币。在正式发射前，纳伊布·布克莱总统的政府一直在购买比特币，包括价值至少2000万美元的产品。</blockquote></p><p> But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p><p><blockquote>但萨尔瓦多的加密货币实验并没有得到国际货币基金组织和世界银行等组织的认可，这些组织警告萨尔瓦多，将其作为法定货币可能会危及金融稳定。其他国家正在打击加密交易、采矿和交易所，这表明萨尔瓦多目前可能是一个例外。</blockquote></p><p> Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p><p><blockquote>加密货币观察人士也将市场低迷归咎于技术因素。加密货币交易研究公司 Fairlead Strategies 的创始人兼管理合伙人凯蒂-斯托克顿（Katie Stockton）说，假设价格不会突然飙升，比特币现在将迎来 “外部下跌 ”的一天。这意味着比特币的交易区间更大，收盘价将低于昨天（假设下午 5 点截止，尽管它 24 小时交易）。</blockquote></p><p> “The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p><p><blockquote>“她说：”这意味着要进一步整合。她补充说，到目前为止，抛售看起来只是一个小小的挫折，因为比特币还没有突破 4.4 万美元左右的 50 天移动平均线，这是其下一个支撑位。</blockquote></p><p> “A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p><p><blockquote>“她说：”44,000 美元的违规并不意味着破产。“这是对 50 天移动平均线的测试。“比特币和大多数接近当前低点的加密货币都有强有力的支撑”。</blockquote></p><p> Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p><p><blockquote>其他可能导致抛售的因素还包括领先的加密货币交易所 Bitfinix 的停电和 “计划外维护 ”的报道。据 Downdetector 称，Coinbase Global（股票代码：COIN）在中午前后也经历了停电激增。</blockquote></p><p> Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p><p><blockquote>即使价格从这里稳定下来，这也提醒人们，比特币和其他加密货币仍然容易受到快速下跌的影响。虽然你可以在圣萨尔瓦多买到一个加了一小块比特币的巨无霸，但你最好还是把它放在你的数字钱包里——或者不放在那里——这取决于一天中的时间。</blockquote></p><p></p>","source":"lsy1610680873436","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>Bitcoin Endured a Rocky Day. 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What's Behind the Selloff<blockquote>比特币经历了艰难的一天。抛售背后的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-09-08 16:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p><p><blockquote>对比特币来说，这本应是快乐的一天，但却变成了溃败。</blockquote></p><p> Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p><p><blockquote>比特币（股票代码：BTC）周二下午交易价格约为 47,000 美元，在过去 24 小时内下跌 9%，今天上午跌至 42,900 美元。抛售前，比特币股价已超过 52,800 美元。</blockquote></p><p> Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p><p><blockquote>其他加密货币也陷入困境，包括以太币 (ETH)，下跌 12%，至 3,460 美元。</blockquote></p><p> The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p><p><blockquote>抛售可能反映了7月下旬价格开始上涨后的获利了结。自 7 月下旬以来，比特币股价已上涨超过 50%，当时股价约为 34,000 美元。在其底层区块链网络进行技术升级后，以太币也一直在飞翔。</blockquote></p><p> The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p><p><blockquote>萨尔瓦多成为第一个将比特币与该国另一种官方货币美元一起作为法定货币的国家后，这一低迷的一天可能也反映了 “抛售新闻 ”的动态。</blockquote></p><p> Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p><p><blockquote>萨尔瓦多的商人现在应该接受商品和服务的比特币。政府承诺在公民的数字钱包中提供价值30美元的比特币。据路透社报道，麦当劳已开始在萨尔瓦多接受比特币。在正式发射前，纳伊布·布克莱总统的政府一直在购买比特币，包括价值至少2000万美元的产品。</blockquote></p><p> But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p><p><blockquote>但萨尔瓦多的加密货币实验并没有得到国际货币基金组织和世界银行等组织的认可，这些组织警告萨尔瓦多，将其作为法定货币可能会危及金融稳定。其他国家正在打击加密交易、采矿和交易所，这表明萨尔瓦多目前可能是一个例外。</blockquote></p><p> Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p><p><blockquote>加密货币观察人士也将市场低迷归咎于技术因素。加密货币交易研究公司 Fairlead Strategies 的创始人兼管理合伙人凯蒂-斯托克顿（Katie Stockton）说，假设价格不会突然飙升，比特币现在将迎来 “外部下跌 ”的一天。这意味着比特币的交易区间更大，收盘价将低于昨天（假设下午 5 点截止，尽管它 24 小时交易）。</blockquote></p><p> “The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p><p><blockquote>“她说：”这意味着要进一步整合。她补充说，到目前为止，抛售看起来只是一个小小的挫折，因为比特币还没有突破 4.4 万美元左右的 50 天移动平均线，这是其下一个支撑位。</blockquote></p><p> “A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p><p><blockquote>“她说：”44,000 美元的违规并不意味着破产。“这是对 50 天移动平均线的测试。“比特币和大多数接近当前低点的加密货币都有强有力的支撑”。</blockquote></p><p> Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p><p><blockquote>其他可能导致抛售的因素还包括领先的加密货币交易所 Bitfinix 的停电和 “计划外维护 ”的报道。据 Downdetector 称，Coinbase Global（股票代码：COIN）在中午前后也经历了停电激增。</blockquote></p><p> Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p><p><blockquote>即使价格从这里稳定下来，这也提醒人们，比特币和其他加密货币仍然容易受到快速下跌的影响。虽然你可以在圣萨尔瓦多买到一个加了一小块比特币的巨无霸，但你最好还是把它放在你的数字钱包里——或者不放在那里——这取决于一天中的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1,"symbols_score_info":{"COIN":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880107752,"gmtCreate":1631023536977,"gmtModify":1631890578806,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/880107752","repostId":"1130130857","repostType":4,"repost":{"id":"1130130857","kind":"news","pubTimestamp":1631007146,"share":"https://www.laohunote.com/m/news/1130130857?lang=zh_CN&edition=full","pubTime":"2021-09-07 17:32","market":"us","language":"en","title":"Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130130857","media":"Barron's","summary":"What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and  a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin","content":"<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊!在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔 500 指数上涨了 20%，连续七个月上涨，并一路创下 50 多个新高。此外，去年市场从 2020 年 3 月的低点反弹了 68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨速度。刺激支出已见顶，经济和企业盈利增长可能会在今年年底放缓。更重要的是，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。对于越来越昂贵的股票持有者来说，这些都不太可能满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，做好准备迎接波动性下跌，这相互矛盾地推动巴菲特股票、债券和投资者。“Nuveen 全球股票首席投资官赛拉-马利克（Saira Malik）说：”万物反弹已经过去。“这不会是一股急剧上涨的经济潮流，让所有船只都离开这里”。</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识。<i>巴伦</i>最近咨询过。所有人都看到标普500在周四收盘价 4536 点附近收盘。他们的平均目标：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>与最近的趋势相比，明年的涨幅也显得微不足道。该集团预计 2022 年标普500将再增长 6%，升至 4,800 左右。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的 21 倍，债券收益率很低，现金收益率在考虑通货膨胀因素后几乎为零，投资者面临着艰难的资产配置决策。我们的市场观察家建议关注 “优质 ”投资，而不是提振快速增长的科技股、停滞不前的备忘录股和数字世界的狗狗币。在股票中，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业股票。即使未来几个月平均指数表现不佳，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅反弹是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免 Covid 大流行病造成的经济损失。自2020年3月以来，美国央行每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并将投资者推向包括股票在内的风险更高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买规模，此举可能会动摇各种风险资产。“摩根士丹利（atMorgan Stanley）首席投资官兼首席美国股票策略师迈克-威尔逊（Mike Wilson）说：”对我们来说，这很简单：缩减规模就是收紧规模。“这是（美联储）远离最大限度宽松的第一步。他们这次对此非常精打细算，但底线是这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>战略家们指出，政府的刺激支出也达到了顶峰。每周 300 美元的补充联邦失业救济金将于 9 月 6 日到期。尽管国会似乎可能会在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约 5500 亿美元的新支出——只是之前法律授权的万亿美元的一小部分——并且将分摊多年。基础设施刺激措施将在短期内对占美国国内生产总值增长近 70% 的消费支出的提振作用，远不及去年数百万美国人收到政府支票后的经济状况。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>民主党批准的预算法案只应遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施的支出，以及其他政党优先事项。国会可能会投票提高对企业和高收入个人的税收，以抵消这笔支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他充满政治色彩的问题同样可能导致股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计支出法案，以避免<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>十月关闭。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对新冠肺炎德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要局限于旅游业和电影院。华尔街对市场的基本看法并不包括新一波会破坏经济增长的封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通货膨胀一直是美联储和投资者的热门话题，部分原因是最近通货膨胀一直非常火爆。美国消费者价格指数在 6 月和 7 月均以年化 5.4% 的速度上涨--美联储的评级是暂时的，尽管其他人并不确定。战略家们站在鲍威尔一边；他们预计明年通货膨胀率将大幅下降。他们的预测降幅在 2.5% 至 3.5% 之间，他们认为这对消费者和企业来说是可控的，也是经济快速增长的可接受的副作用。然而，高于 2.5% 的通胀率，加上美联储缩减规模，意味着现在超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>“贝莱德多资产策略集团（BlackRockMulti-Asset Strategies Group）收入投资主管迈克尔-弗雷德里克斯（Michael Fredericks）说：”我们认为通胀将继续高于金融危机以来的水平，但一旦许多与重新开放相关的压力开始消散，我们就很难看到通胀率远高于2.5%。“因此，债券收益率确实需要上升，但这将是逐步发生的。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比目前的水平高出约 35 个基点，即百分之一个百分点，但低于 2021 年 3 月高点时达到的 1.75%。该组织表示，到明年，10 年期国债收益率可能达到 2%。从绝对值来看，这些举措并不算大，但对债券市场来说意义重大，对股市来说意义更大。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会给股票估值带来压力，原因有二。收益率较高的债券会给股票带来竞争，如果按较高的利率贴现，公司未来的收益在目前就毫无价值。尽管如此，2% 左右的 10 年期国债收益率仍不足以将股票估值降至 Covid 之前的水平。即使收益率攀升，市场策略师也认为标普500持有的市盈率远高于其 30 年平均水平 16 倍远期市盈率。去年秋天，该指数的远期市盈率突破了 23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要 10 年期国债收益率保持在 2% 范围内，标普500的远期市盈率就应该能够保持在高位。在收益率大幅上升或其他导致股市下跌的因素带来更大压力之前，回到 16 倍的长期平均水平是不可能的。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>他表示，如果收益率飙升至 2% 或 2.25% 以上，投资者可能会开始更认真地质疑股票估值<a href=\"https://laohu8.com/S/STT\">状态</a>Street'schief 投资组合策略师 Gaurav Mallik： “我们已经有一段时间没有看到（10 年期国债收益率）超过 2%，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出股市的估值风险是不对称的： “他说：”考虑到增长放缓和我们在周期中的位置，市盈率不太可能上升，而且很有可能下降 10% 以上。</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充说，如果 16 到 23 倍的远期市盈率是这个范围，“你已经处于这个范围的高端了。潜在的风险大于回报”。</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>六位策略师的预测都包含了一些市盈率的压缩，这使得利润增长之路更加重要。在经历了去年的盈利低迷之后，策略师平均预计标普500今年的盈利将跃升 46%，达到约 204 美元。随后，2022 年可能会上涨 9%，达到约 222.50 美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是 2022 年联邦企业税率的提高。民主党支出和税收计划的细节将在未来几周内制定，投资者有望听到更多关于潜在增税的消息。几位策略师认为，25% 的联邦企业利润率可能是一个妥协数字，高于 2018 年以来的 21%，但低于拜登政府寻求的 28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约 5%。随着民主党和解法案的临近，该指数可能会下降类似的幅度，但影响应仅限于最初的修正。与 2017 年 12 月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>撇开这些担忧不谈，投资者不应忽视大局： 美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。“马利克说：”周期性上涨和高于趋势的增长至少将持续到 2022 年，我们希望偏向具有这种风险敞口的资产。</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将非常火爆。当国内生产总值增长高于平均水平时，价值就会战胜增长，周期性股票会战胜防御性股票。”- Lori Calvasina，加拿大皇家银行资本市场 道富银行策略师建议在投资组合中增持材料、金融和技术。这种方法既包括银行和矿业等经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场（RBC Capital Markets）美国股票策略主管洛里-卡尔瓦西纳（Lori Calvasina）同样采取杠铃策略，同时投资周期性和成长性。她喜欢的行业是能源、金融和科技。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>“卡尔瓦西纳说：”金融和能源领域的估值仍然比成长型行业（如科技或非必需消费品）更具吸引力。“近期的催化剂是摆脱当前的 Covid 浪潮......今明两年我们将迎来火热的经济，传统上，当 GDP 增长高于平均水平时，价值战胜增长，周期性战胜防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是至关重要的，尤其是进入 2022 年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长率。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>“卡尔瓦西纳说：”历史的剧本是，从经济衰退中走出来，往往会看到持续一年左右的低质量超越业绩，然后领导层会回到高质量。“但从低质量到高质量的转变往往非常坎坷”。</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师倾向于经济敏感股票和稳定增长股票的组合，包括科技股。金融股应该表现良好，尤其是在债券收益率上升的情况下。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管具有质量属性的股票今年夏天的表现优于大盘，但根据<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析认为，自去年11月首次报道积极的疫苗消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>“贝莱德（BlackRock）的弗雷德里克斯（Fredericks）说：”我们正在进入一个周期中期环境，此时潜在的经济增长依然强劲，但势头开始放缓。“我们的研究表明，优质股票在这样的时期表现尤为出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融业，包括银行，以及具有这些质量特征的必需消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>该公司的股票策略主管克里斯托弗-哈维（Christopher Harvey）认为，大流行后的受益者和防御性敞口相结合才是最佳选择。他构建了一篮子波动性低于平均水平的股票--在今年秋季市场不确定或压力时期，这些股票的表现应该会优于平均水平--并且 “Covid贝塔值 ”较高，即对大流行病的好消息或坏消息敏感。一个要求；富国银行的股票分析师不得不将这些股票评级相当于买入。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>“哈维说：”近期存在经济不确定性、利率不确定性和 Covid 风险，一般来说，9 月前后我们正处于一年中季节性疲软的时期。“如果我们能在低体积和高 Covid beta 之间取得平衡，我们就能减轻即将到来的许多不确定性和波动性，这些催化剂的时间安排。不过，从长远来看，我们仍然希望有这种[重新开放的风险敞口]”。</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的高Covid贝塔值低波动性股票名单包括苹果公司（AAPL）、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">伊克维亚</a>控股公司 (IQV) 和马斯科 (MAS)。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。景顺 KBW 银行交易所交易基金 (KBWB) 为美国该行业提供广泛的投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“哈维说：”我们喜欢估值[和]信用质量；他们现在被允许回购股票并增加股息，而且 Covid 贝塔系数也更高。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>更便宜的估值意味着市场调整中潜在的下行空间较小。而且，与股票市场的其他大部分相反，更高的利率将成为银行的推动力，然后银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。“<a href=\"https://laohu8.com/S/HR\">医疗保健</a>威尔逊说。“如今，与其他行业相比，医疗保健行业每单位增长的成本要低得多。因此，我们认为，当我们担心估值时，医疗保健行业为这个市场提供了良好的平衡。”Health insurerHumana (HUM) 将威尔逊的 “新鲜资金买入清单”评级为买入<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen 的 Malik 也将目光投向了医疗保健行业，即制药和生物技术行业，以获得价格相对较低的增长机会。她指出，Seagen (SGEN) 专注于肿瘤药物，可能是制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维 (ABBV)，该公司的远期市盈率为 8 倍，股息收益率为 4.7%。其重磅抗炎药修美乐的专利即将到期，这让一些投资者望而却步，但马利克相信管理层可以限制损害，并看到这家价值 2000 亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都经历了艰难的时期。Seagen 上周下跌超过 8%，至 152 美元左右，原因是有消息称其联合创始人兼首席执行官最近出售了大量股票。周三，艾伯维股价下跌 7%，至 112.27 美元，此前美国食品和药物管理局要求 JAK 抑制剂贴上新的警告标签，JAK 抑制剂是一种抗类风湿药物，包括以下成分之一<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生公司 (JNJ) 和思科系统公司 (CSCO) 是其他通过<i>巴伦</i>质量属性屏幕。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳步上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点回落，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</blockquote></p><p></p>","source":"lsy1610680873436","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>Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</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\">\nStrategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-09-07 17:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊!在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔 500 指数上涨了 20%，连续七个月上涨，并一路创下 50 多个新高。此外，去年市场从 2020 年 3 月的低点反弹了 68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨速度。刺激支出已见顶，经济和企业盈利增长可能会在今年年底放缓。更重要的是，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。对于越来越昂贵的股票持有者来说，这些都不太可能满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，做好准备迎接波动性下跌，这相互矛盾地推动巴菲特股票、债券和投资者。“Nuveen 全球股票首席投资官赛拉-马利克（Saira Malik）说：”万物反弹已经过去。“这不会是一股急剧上涨的经济潮流，让所有船只都离开这里”。</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识。<i>巴伦</i>最近咨询过。所有人都看到标普500在周四收盘价 4536 点附近收盘。他们的平均目标：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>与最近的趋势相比，明年的涨幅也显得微不足道。该集团预计 2022 年标普500将再增长 6%，升至 4,800 左右。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的 21 倍，债券收益率很低，现金收益率在考虑通货膨胀因素后几乎为零，投资者面临着艰难的资产配置决策。我们的市场观察家建议关注 “优质 ”投资，而不是提振快速增长的科技股、停滞不前的备忘录股和数字世界的狗狗币。在股票中，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业股票。即使未来几个月平均指数表现不佳，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅反弹是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免 Covid 大流行病造成的经济损失。自2020年3月以来，美国央行每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并将投资者推向包括股票在内的风险更高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买规模，此举可能会动摇各种风险资产。“摩根士丹利（atMorgan Stanley）首席投资官兼首席美国股票策略师迈克-威尔逊（Mike Wilson）说：”对我们来说，这很简单：缩减规模就是收紧规模。“这是（美联储）远离最大限度宽松的第一步。他们这次对此非常精打细算，但底线是这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>战略家们指出，政府的刺激支出也达到了顶峰。每周 300 美元的补充联邦失业救济金将于 9 月 6 日到期。尽管国会似乎可能会在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约 5500 亿美元的新支出——只是之前法律授权的万亿美元的一小部分——并且将分摊多年。基础设施刺激措施将在短期内对占美国国内生产总值增长近 70% 的消费支出的提振作用，远不及去年数百万美国人收到政府支票后的经济状况。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>民主党批准的预算法案只应遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施的支出，以及其他政党优先事项。国会可能会投票提高对企业和高收入个人的税收，以抵消这笔支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他充满政治色彩的问题同样可能导致股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计支出法案，以避免<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>十月关闭。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对新冠肺炎德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要局限于旅游业和电影院。华尔街对市场的基本看法并不包括新一波会破坏经济增长的封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通货膨胀一直是美联储和投资者的热门话题，部分原因是最近通货膨胀一直非常火爆。美国消费者价格指数在 6 月和 7 月均以年化 5.4% 的速度上涨--美联储的评级是暂时的，尽管其他人并不确定。战略家们站在鲍威尔一边；他们预计明年通货膨胀率将大幅下降。他们的预测降幅在 2.5% 至 3.5% 之间，他们认为这对消费者和企业来说是可控的，也是经济快速增长的可接受的副作用。然而，高于 2.5% 的通胀率，加上美联储缩减规模，意味着现在超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>“贝莱德多资产策略集团（BlackRockMulti-Asset Strategies Group）收入投资主管迈克尔-弗雷德里克斯（Michael Fredericks）说：”我们认为通胀将继续高于金融危机以来的水平，但一旦许多与重新开放相关的压力开始消散，我们就很难看到通胀率远高于2.5%。“因此，债券收益率确实需要上升，但这将是逐步发生的。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比目前的水平高出约 35 个基点，即百分之一个百分点，但低于 2021 年 3 月高点时达到的 1.75%。该组织表示，到明年，10 年期国债收益率可能达到 2%。从绝对值来看，这些举措并不算大，但对债券市场来说意义重大，对股市来说意义更大。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会给股票估值带来压力，原因有二。收益率较高的债券会给股票带来竞争，如果按较高的利率贴现，公司未来的收益在目前就毫无价值。尽管如此，2% 左右的 10 年期国债收益率仍不足以将股票估值降至 Covid 之前的水平。即使收益率攀升，市场策略师也认为标普500持有的市盈率远高于其 30 年平均水平 16 倍远期市盈率。去年秋天，该指数的远期市盈率突破了 23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要 10 年期国债收益率保持在 2% 范围内，标普500的远期市盈率就应该能够保持在高位。在收益率大幅上升或其他导致股市下跌的因素带来更大压力之前，回到 16 倍的长期平均水平是不可能的。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>他表示，如果收益率飙升至 2% 或 2.25% 以上，投资者可能会开始更认真地质疑股票估值<a href=\"https://laohu8.com/S/STT\">状态</a>Street'schief 投资组合策略师 Gaurav Mallik： “我们已经有一段时间没有看到（10 年期国债收益率）超过 2%，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出股市的估值风险是不对称的： “他说：”考虑到增长放缓和我们在周期中的位置，市盈率不太可能上升，而且很有可能下降 10% 以上。</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充说，如果 16 到 23 倍的远期市盈率是这个范围，“你已经处于这个范围的高端了。潜在的风险大于回报”。</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>六位策略师的预测都包含了一些市盈率的压缩，这使得利润增长之路更加重要。在经历了去年的盈利低迷之后，策略师平均预计标普500今年的盈利将跃升 46%，达到约 204 美元。随后，2022 年可能会上涨 9%，达到约 222.50 美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是 2022 年联邦企业税率的提高。民主党支出和税收计划的细节将在未来几周内制定，投资者有望听到更多关于潜在增税的消息。几位策略师认为，25% 的联邦企业利润率可能是一个妥协数字，高于 2018 年以来的 21%，但低于拜登政府寻求的 28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约 5%。随着民主党和解法案的临近，该指数可能会下降类似的幅度，但影响应仅限于最初的修正。与 2017 年 12 月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>撇开这些担忧不谈，投资者不应忽视大局： 美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。“马利克说：”周期性上涨和高于趋势的增长至少将持续到 2022 年，我们希望偏向具有这种风险敞口的资产。</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将非常火爆。当国内生产总值增长高于平均水平时，价值就会战胜增长，周期性股票会战胜防御性股票。”- Lori Calvasina，加拿大皇家银行资本市场 道富银行策略师建议在投资组合中增持材料、金融和技术。这种方法既包括银行和矿业等经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场（RBC Capital Markets）美国股票策略主管洛里-卡尔瓦西纳（Lori Calvasina）同样采取杠铃策略，同时投资周期性和成长性。她喜欢的行业是能源、金融和科技。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>“卡尔瓦西纳说：”金融和能源领域的估值仍然比成长型行业（如科技或非必需消费品）更具吸引力。“近期的催化剂是摆脱当前的 Covid 浪潮......今明两年我们将迎来火热的经济，传统上，当 GDP 增长高于平均水平时，价值战胜增长，周期性战胜防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是至关重要的，尤其是进入 2022 年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长率。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>“卡尔瓦西纳说：”历史的剧本是，从经济衰退中走出来，往往会看到持续一年左右的低质量超越业绩，然后领导层会回到高质量。“但从低质量到高质量的转变往往非常坎坷”。</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师倾向于经济敏感股票和稳定增长股票的组合，包括科技股。金融股应该表现良好，尤其是在债券收益率上升的情况下。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管具有质量属性的股票今年夏天的表现优于大盘，但根据<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析认为，自去年11月首次报道积极的疫苗消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>“贝莱德（BlackRock）的弗雷德里克斯（Fredericks）说：”我们正在进入一个周期中期环境，此时潜在的经济增长依然强劲，但势头开始放缓。“我们的研究表明，优质股票在这样的时期表现尤为出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融业，包括银行，以及具有这些质量特征的必需消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>该公司的股票策略主管克里斯托弗-哈维（Christopher Harvey）认为，大流行后的受益者和防御性敞口相结合才是最佳选择。他构建了一篮子波动性低于平均水平的股票--在今年秋季市场不确定或压力时期，这些股票的表现应该会优于平均水平--并且 “Covid贝塔值 ”较高，即对大流行病的好消息或坏消息敏感。一个要求；富国银行的股票分析师不得不将这些股票评级相当于买入。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>“哈维说：”近期存在经济不确定性、利率不确定性和 Covid 风险，一般来说，9 月前后我们正处于一年中季节性疲软的时期。“如果我们能在低体积和高 Covid beta 之间取得平衡，我们就能减轻即将到来的许多不确定性和波动性，这些催化剂的时间安排。不过，从长远来看，我们仍然希望有这种[重新开放的风险敞口]”。</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的高Covid贝塔值低波动性股票名单包括苹果公司（AAPL）、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">伊克维亚</a>控股公司 (IQV) 和马斯科 (MAS)。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。景顺 KBW 银行交易所交易基金 (KBWB) 为美国该行业提供广泛的投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“哈维说：”我们喜欢估值[和]信用质量；他们现在被允许回购股票并增加股息，而且 Covid 贝塔系数也更高。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>更便宜的估值意味着市场调整中潜在的下行空间较小。而且，与股票市场的其他大部分相反，更高的利率将成为银行的推动力，然后银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。“<a href=\"https://laohu8.com/S/HR\">医疗保健</a>威尔逊说。“如今，与其他行业相比，医疗保健行业每单位增长的成本要低得多。因此，我们认为，当我们担心估值时，医疗保健行业为这个市场提供了良好的平衡。”Health insurerHumana (HUM) 将威尔逊的 “新鲜资金买入清单”评级为买入<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen 的 Malik 也将目光投向了医疗保健行业，即制药和生物技术行业，以获得价格相对较低的增长机会。她指出，Seagen (SGEN) 专注于肿瘤药物，可能是制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维 (ABBV)，该公司的远期市盈率为 8 倍，股息收益率为 4.7%。其重磅抗炎药修美乐的专利即将到期，这让一些投资者望而却步，但马利克相信管理层可以限制损害，并看到这家价值 2000 亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都经历了艰难的时期。Seagen 上周下跌超过 8%，至 152 美元左右，原因是有消息称其联合创始人兼首席执行官最近出售了大量股票。周三，艾伯维股价下跌 7%，至 112.27 美元，此前美国食品和药物管理局要求 JAK 抑制剂贴上新的警告标签，JAK 抑制剂是一种抗类风湿药物，包括以下成分之一<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生公司 (JNJ) 和思科系统公司 (CSCO) 是其他通过<i>巴伦</i>质量属性屏幕。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳步上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点回落，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130130857","content_text":"What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.\nTailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.\nIn other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”\nThat’s the general consensus among the six market strategists and chief investment officers whomBarron’srecently consulted. All see the S&P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.\nNext year’s gains look muted, as well, relative to recent trends. The group expects the S&P 500 to tack on another 6% in 2022, rising to about 4800.\nWith stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.\nThe stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.\nFed Chairman Jerome Powell has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”\nThe government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.\nThe bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.\nA budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.\nOther politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a Washington shutdown in October.\nFor now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.\nInflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.\n“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”\nThe strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for the bond market—and could be even more so for stocks.\nRising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.\n\nAs long as 10-year Treasury yields stay in the 2% range, the S&P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.\nIf yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says State Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”\n\nWilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says\nIf 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”\nSome P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.\nA potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.\nAn increase of that magnitude would shave about 5% off S&P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a one-time event for the market, some strategists predict.\nThese concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.\n\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n\nThe State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.\nRBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.\n“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”\nBut the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.\n“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”\nA Shopping List for Fall\nMost strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.\n\nAlthough stocks with quality attributes have outperformed the market this summer, according to a BlackRock analysis, the quality factor has lagged since positive vaccine news was first reported last November.\n“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”\nHe recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.\nFor Wells Fargo’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.\n“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”\nHarvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),Bank of America(BAC),Northern Trust(NTRS),Lowe’s(LOW),IQVIA Holdings(IQV), andMasco(MAS).\nOverall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.\n“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.\nCheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.\nHealthcare stocks also have some fans. “Healthcare has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by Morgan Stanley analysts and fitting his macro views.\nNuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.\nMalik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.\nBoth stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of AbbVie’s most promising post-Humira products.\nPfizer(PFE),American Express(AXP),Johnson & Johnson(JNJ), andCisco Systems(CSCO) are other S&P 500 members that pass aBarron’sscreen for quality attributes.\nAfter a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. Just be more selective. And go with quality.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2702,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815294811,"gmtCreate":1630679393933,"gmtModify":1631890578807,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815294811","repostId":"1198573200","repostType":4,"isVote":1,"tweetType":1,"viewCount":2659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816503653,"gmtCreate":1630505908872,"gmtModify":1631890578814,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816503653","repostId":"1167796919","repostType":4,"isVote":1,"tweetType":1,"viewCount":3250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816500969,"gmtCreate":1630505808451,"gmtModify":1631890578813,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816500969","repostId":"1150832177","repostType":4,"repost":{"id":"1150832177","kind":"news","pubTimestamp":1630504818,"share":"https://www.laohunote.com/m/news/1150832177?lang=zh_CN&edition=full","pubTime":"2021-09-01 22:00","market":"us","language":"en","title":"Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后Beyond Meat股市走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150832177","media":"Thestreet","summary":"Beyond Meat (BYND) Meat, Inc. Report shares edged higher Tuesday after the plant-based food producer","content":"<p>Beyond Meat&nbsp;(<b>BYND</b>)&nbsp;Meat, Inc. Report&nbsp;shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.</p><p><blockquote>Beyond Meat（<b>拜恩德</b>) Meat, Inc. 报告称，这家植物性食品生产商表示，在与 Don Lee Farms 正在进行的商业秘密案件中获得了有利裁决，该公司股价周二小幅走高。</blockquote></p><p> Beyond Meat said&nbsp;Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of&nbsp;misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.</p><p><blockquote>Beyond Meat表示，洛杉矶高等法院法官 Holly J. Fujie 裁定，前制造合作伙伴 Don Lee Farms 提出的两项关键索赔，即挪用商业秘密和不正当竞争，将不会进行定于 9 月 22 日进行的审判。</blockquote></p><p> Earlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.</p><p><blockquote>今年早些时候，加州高等法院裁定Beyond Meat支付欠唐·李农场的约40万美元，作为其2017年终止的合同的一部分。</blockquote></p><p> \"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"</p><p><blockquote>“Beyond Meat在一份声明中说：”虽然唐李农场以前没有生产植物性肉制品的经验，但它声称自己拥有生产Beyond Meat专有植物性肉制品的程序。“法院现已断然拒绝这一主张。”</blockquote></p><p> Beyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.</p><p><blockquote>Beyond Meat股价在盘前交易中上涨 0.46%，扭转了早些时候的跌势，开盘价为每股 120.85 美元。</blockquote></p><p> Earlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.</p><p><blockquote>本月早些时候，Beyond Meat公布第二季度每股亏损 31 美分，超出预期，销售额为 1.494 亿美元。</blockquote></p><p> It also forecast softer third quarter sales of between&nbsp;$120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.</p><p><blockquote>它还预测，随着夏季Delta变种冠状病毒感染的增加，餐馆对食品订单变得更加谨慎，第三季度销售额将疲软，在1.2亿至1.4亿美元之间。</blockquote></p><p> \"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .</p><p><blockquote>首席财务官 Philip Hardin 表示：“我们认为，由于最近由 Delta 变种引起的 COVID-19 感染率上升，我们看到了一些早期迹象，表明餐饮业的某些领域恢复了更加谨慎的立场。” 8 月 6 日对投资者表示。</blockquote></p><p> \"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"</p><p><blockquote>他指出：“仍然存在不确定性，特别是在与德尔塔变异毒株 COVID-19 感染率相关的餐饮服务渠道，以及某些司法管辖区重新实施安全措施以及对客户需求水平的潜在影响方面。”“尽管我们普遍预计今年剩余时间内我们的餐饮服务业务将继续同比增长，尽管增长速度比第二季度更为温和。”</blockquote></p><p></p>","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>Beyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后Beyond Meat股市走高</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; 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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\">\nBeyond Meat Stock Turns Higher After Don Lee Farms Trade Secrets Case Ruling<blockquote>唐·李农场商业秘密案裁决后Beyond Meat股市走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-09-01 22:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Beyond Meat&nbsp;(<b>BYND</b>)&nbsp;Meat, Inc. Report&nbsp;shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.</p><p><blockquote>Beyond Meat（<b>拜恩德</b>) Meat, Inc. 报告称，这家植物性食品生产商表示，在与 Don Lee Farms 正在进行的商业秘密案件中获得了有利裁决，该公司股价周二小幅走高。</blockquote></p><p> Beyond Meat said&nbsp;Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of&nbsp;misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.</p><p><blockquote>Beyond Meat表示，洛杉矶高等法院法官 Holly J. Fujie 裁定，前制造合作伙伴 Don Lee Farms 提出的两项关键索赔，即挪用商业秘密和不正当竞争，将不会进行定于 9 月 22 日进行的审判。</blockquote></p><p> Earlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.</p><p><blockquote>今年早些时候，加州高等法院裁定Beyond Meat支付欠唐·李农场的约40万美元，作为其2017年终止的合同的一部分。</blockquote></p><p> \"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"</p><p><blockquote>“Beyond Meat在一份声明中说：”虽然唐李农场以前没有生产植物性肉制品的经验，但它声称自己拥有生产Beyond Meat专有植物性肉制品的程序。“法院现已断然拒绝这一主张。”</blockquote></p><p> Beyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.</p><p><blockquote>Beyond Meat股价在盘前交易中上涨 0.46%，扭转了早些时候的跌势，开盘价为每股 120.85 美元。</blockquote></p><p> Earlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.</p><p><blockquote>本月早些时候，Beyond Meat公布第二季度每股亏损 31 美分，超出预期，销售额为 1.494 亿美元。</blockquote></p><p> It also forecast softer third quarter sales of between&nbsp;$120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.</p><p><blockquote>它还预测，随着夏季Delta变种冠状病毒感染的增加，餐馆对食品订单变得更加谨慎，第三季度销售额将疲软，在1.2亿至1.4亿美元之间。</blockquote></p><p> \"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .</p><p><blockquote>首席财务官 Philip Hardin 表示：“我们认为，由于最近由 Delta 变种引起的 COVID-19 感染率上升，我们看到了一些早期迹象，表明餐饮业的某些领域恢复了更加谨慎的立场。” 8 月 6 日对投资者表示。</blockquote></p><p> \"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"</p><p><blockquote>他指出：“仍然存在不确定性，特别是在与德尔塔变异毒株 COVID-19 感染率相关的餐饮服务渠道，以及某些司法管辖区重新实施安全措施以及对客户需求水平的潜在影响方面。”“尽管我们普遍预计今年剩余时间内我们的餐饮服务业务将继续同比增长，尽管增长速度比第二季度更为温和。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/beyond-meat-stock-turns-higher-after-don-lee-farms-case-ruling\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.thestreet.com/investing/beyond-meat-stock-turns-higher-after-don-lee-farms-case-ruling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150832177","content_text":"Beyond Meat (BYND) Meat, Inc. Report shares edged higher Tuesday after the plant-based food producer said it received a favorable ruling in an ongoing trade secrets case with Don Lee Farms.\nBeyond Meat said Los Angeles Superior Court Judge Holly J. Fujie ruled that two key claims of misappropriation of trade secrets and unfair competition raised by Don Lee Farms -- a former manufacturing partner -- would not proceed to trial, which is set for September 22.\nEarlier this year, California's Superior Court ruled the Beyond Meat pay around $400,000 owed to Don Lee farms as part of the contract it severed in 2017.\n\"Although Don Lee Farms had no prior experience manufacturing plant-based meat products, it claimed it owned the procedures for manufacturing Beyond Meat’s proprietary plant-based meat products,\" Beyond Meat said in a statement. \"The Court has now outright rejected that claim.\"\nBeyond Meat shares were marked 0.46% higher in pre-market trading, reversing an earlier decline, to indicate an opening bell price of $120.85 each.\nEarlier this month, Beyond Meat posted a wider-than-expected second quarter loss of 31 cents per share, on sales of $149.4 million.\nIt also forecast softer third quarter sales of between $120 million to $140 million as restaurants grow more cautious on food orders amid the summer rise in Delta-variant coronavirus infections.\n\"We believe it's prudent to call out that due to recent increases in COVID-19 infection rates stemming from the Delta variant, we're seeing some early signs of a return to a more cautionary stance across certain parts of the Foodservice sector,\" CFO Philip Hardin told investors on August 6. .\n\"There continues to be uncertainty, particularly in Foodservice channels related to the COVID-19 infection rates in the Delta variant, as well as reimplementation of safety measures in certain jurisdictions and potential impact on customer demand levels,\" he noted. \"Although we generally expect to see continued year-over-year growth in our Foodservice business for the balance of the year, albeit at a more moderate pace than what we saw in Q2.\"","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":2485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818506513,"gmtCreate":1630417619332,"gmtModify":1631890578814,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818506513","repostId":"1155360019","repostType":4,"isVote":1,"tweetType":1,"viewCount":2273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810430062,"gmtCreate":1629990437656,"gmtModify":1704954323763,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/810430062","repostId":"1186610229","repostType":4,"isVote":1,"tweetType":1,"viewCount":2610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810494427,"gmtCreate":1629990393369,"gmtModify":1704954321685,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/810494427","repostId":"1120391898","repostType":4,"repost":{"id":"1120391898","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629984746,"share":"https://www.laohunote.com/m/news/1120391898?lang=zh_CN&edition=full","pubTime":"2021-08-26 21:32","market":"us","language":"en","title":"S&P 500 opens flat near a record as investors await Fed summit<blockquote>投资者等待美联储峰会，标普500开盘持平，接近历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120391898","media":"Tiger Newspress","summary":"The S&P 500 was little changed Thursday morning, following the benchmark's rally above the 4,500 lev","content":"<p>The S&amp;P 500 was little changed Thursday morning, following the benchmark's rally above the 4,500 level for the first time ever in the prior session, as investors await the Federal Reserve's annual symposium on Friday.</p><p><blockquote>周四上午，由于投资者等待美联储周五的年度研讨会，该基准指数在前一交易日首次升至 4,500 点上方，标普500几乎没有变化。</blockquote></p><p> The Dow Jones Industrial Average rose about 24 points, or 0.1%. The S&amp;P 500 lost 0.08% and the Nasdaq Composite fell 0.09%.</p><p><blockquote>道琼斯工业平均指数上涨约24点，涨幅0.1%。标普500指数下跌0.08%，纳斯达克综合指数下跌0.09%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/aeb3e35b07de26deb37e5b218327ded1\" tg-width=\"1038\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Weekly initial jobless claims&nbsp;came in at 353,000, the Labor Department reported Thursday morning, a slight increase from the prior week’s 349,000. Economists polled by Dow Jones expected 350,000 Americans filed for unemployment last week.</p><p><blockquote>美国劳工部周四上午报告称，每周首次申请失业救济人数为 35.3 万人，比前一周的 34.9 万人略有增加。道琼斯调查的经济学家预计上周将有35万美国人申请失业。</blockquote></p><p> Economic&nbsp;growth totaled 6.6%&nbsp;in the second quarter, according to the Commerce Department’s second estimate Thursday. That was a slight revision upward from the 6.5% annual increase&nbsp;previously reported&nbsp;but slightly lower than the Dow Jones estimate of 6.7%.</p><p><blockquote>根据商务部周四的第二次估算，第二季度经济增长率为 6.6%。这比之前报告的 6.5% 的年增长率略有上调，但略低于道琼斯预期的 6.7%。</blockquote></p><p> The highly anticipated Jackson Hole symposium from the Federal Reserve will be held virtually this year on Friday, with many central bank speakers making remarks to the media beginning Thursday. At the event, central bankers could provide updates on their plan around tapering monetary stimulus.</p><p><blockquote>备受期待的美联储杰克逊霍尔研讨会将于今年周五举行，许多央行发言人将于周四开始向媒体发表讲话。在此次活动中，央行行长可以提供有关缩减货币刺激计划的最新情况。</blockquote></p><p> Esther George, president of the Kansas City Fed, told CNBC Thursday morning that “given the progress we’ve seen,” Fed&nbsp;tapering is “appropriate,”though she didn’t specify when she thinks it should start.</p><p><blockquote>堪萨斯城联储主席埃丝特-乔治（Esther George）周四上午告诉 CNBC，“鉴于我们所看到的进展”，美联储缩减规模是 “适当的”，但她没有具体说明她认为何时应该开始缩减规模。</blockquote></p><p> “When you look at the job gains we saw last month, the month before, you look at the level of inflation right now, I think it would suggest that the level of accommodation we’re providing right now is probably not needed in this scenario,” she said. “So I would be ready to talk about taper sooner rather than later.”</p><p><blockquote>“她说：”当你看看我们上个月和上个月看到的就业增长，再看看现在的通货膨胀水平，我认为这表明在这种情况下可能不需要我们现在提供的住宿水平。“因此，我准备尽早谈论缩减规模。”</blockquote></p><p> Shares of&nbsp;Salesforce&nbsp;rose nearly 4% on&nbsp;fiscal second-quarter earnings&nbsp;and forward guidance that exceeded analysts' estimates.Ulta Beauty&nbsp;rose more than 1% after reporting strong results.</p><p><blockquote>由于第二财季收益和前瞻性指引超出分析师预期，Salesforce 股价上涨近 4%。 Ulta Beauty 在公布强劲业绩后上涨超过 1%。</blockquote></p><p> Zoom Video shares jumped more than 5%&nbsp;after Morgan Stanley upgraded the stockand predicted 18% upside.</p><p><blockquote>摩根士丹利上调Zoom Video股价并预测上涨 18% 后，该股上涨超过 5%。</blockquote></p><p> On&nbsp;Wednesday, the S&amp;P 500 gained 0.22% to close at a record, led by stocks that benefit from the economic reopening like airlines, cruise lines and financials. The 500-stock average crossed the 4,500 threshold for the first time ever on Wednesday, but closed below that level. The benchmark is up 105% from its pandemic low.</p><p><blockquote>周三，标普500上涨 0.22%，收于历史新高，领涨受益于经济重新开放的股票，如航空公司、邮轮公司和金融公司。周三，500 股平均指数首次突破 4,500 点关口，但收盘低于该水平。该基准较大流行低点上涨了 105%。</blockquote></p><p> The Nasdaq Composite rose 0.15%, also notching a record close. The Dow Jones Industrial Average rose 39 points.</p><p><blockquote>纳斯达克综合指数上涨 0.15%，也创下收盘纪录。道琼斯工业平均指数上涨39点。</blockquote></p><p> “While we remain believers in the secular bull market for US equities, we have suggested raising some cash in U.S. equities given lower highs (aka bearish divergences) across a variety of indicators, weaker August-October seasonality, the Presidential Cycle moving into its weakest period and bearish signals from margin debt,” wrote Stephen Suttmeier, technical research strategist at Bank of America.</p><p><blockquote>“美国银行（Bank of America）技术研究策略师斯蒂芬-萨特迈尔（Stephen Suttmeier）写道：”虽然我们仍然相信美国股市将处于长期牛市，但鉴于各种指标的高点较低（又名看跌背离）、8-10月季节性减弱、总统周期进入最弱时期以及保证金债务的看跌信号，我们建议在美国股市中筹集一些现金。</blockquote></p><p> The yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday as concerns about slowing growth from the delta variant eased, hitting its highest level since earlier in the month when it yielded as much as 1.364%.</p><p><blockquote>由于对德尔塔变异毒株经济增长放缓的担忧有所缓解，基准 10 年期国债收益率周三升至 1.352%，触及本月早些时候收益率高达 1.364% 以来的最高水平。</blockquote></p><p> “The 10-year Treasury bond yield has continued rising in recent days and exploded higher in [Wednesday’s] trading, sending a strong message that the Delta variant of Covid may be peaking in the U.S. which should improve confidence, restart economic reopenings, and drive investment flows toward small caps and cyclicals,” said Jim Paulsen, chief investment strategist at the Leuthold Group.</p><p><blockquote>“洛伊特霍尔德集团（Leuthold Group）首席投资策略师吉姆-保尔森（Jim Paulsen）说：”10年期国债收益率最近几天持续上升，并在[周三]的交易中飙升，这发出了一个强烈的信息，即美国的Covid德尔塔变异毒株可能正在见顶，这将提振信心，重启经济重启，并推动投资流向小盘股和周期性股票。</blockquote></p><p> Chairman Jerome Powell is slated to make remarks on Friday as part of the Fed’s summit. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth in reaction to the pandemic.</p><p><blockquote>美联储主席杰罗姆-鲍威尔（Jerome Powell）定于周五在美联储峰会上发表讲话。美联储每月购买至少 1200 亿美元的债券，以抑制长期利率并促进经济增长，以应对疫情。</blockquote></p><p> “Expect investors to keep an eye on the Fed’s symposium the rest of this week for any comments about tapering or timing for interest rate hikes,” said Paulsen. “Either unexpected commentary from the Fed or a failure or success in scaling 4500 could bring additional volatility to the stock and bond markets.”</p><p><blockquote>“保尔森说：”预计投资者将在本周剩余时间里关注美联储的研讨会，以了解有关缩减规模或加息时机的任何评论。“无论是美联储的意外评论，还是攀升 4500 点的失败或成功，都可能给股票和债券市场带来额外的波动。”</blockquote></p><p> Several companies report quarterly earnings on Thursday including&nbsp;Dell Technologies,Gap,HP&nbsp;and&nbsp;Abercrombie &amp; Fitch.</p><p><blockquote>多家公司将于周四公布季度收益，包括戴尔科技、Gap、惠普和Abercrombie &amp; Fitch。</blockquote></p><p></p>","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>S&P 500 opens flat near a record as investors await Fed summit<blockquote>投资者等待美联储峰会，标普500开盘持平，接近历史新高</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\">\nS&P 500 opens flat near a record as investors await Fed summit<blockquote>投资者等待美联储峰会，标普500开盘持平，接近历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-26 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 was little changed Thursday morning, following the benchmark's rally above the 4,500 level for the first time ever in the prior session, as investors await the Federal Reserve's annual symposium on Friday.</p><p><blockquote>周四上午，由于投资者等待美联储周五的年度研讨会，该基准指数在前一交易日首次升至 4,500 点上方，标普500几乎没有变化。</blockquote></p><p> The Dow Jones Industrial Average rose about 24 points, or 0.1%. The S&amp;P 500 lost 0.08% and the Nasdaq Composite fell 0.09%.</p><p><blockquote>道琼斯工业平均指数上涨约24点，涨幅0.1%。标普500指数下跌0.08%，纳斯达克综合指数下跌0.09%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/aeb3e35b07de26deb37e5b218327ded1\" tg-width=\"1038\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Weekly initial jobless claims&nbsp;came in at 353,000, the Labor Department reported Thursday morning, a slight increase from the prior week’s 349,000. Economists polled by Dow Jones expected 350,000 Americans filed for unemployment last week.</p><p><blockquote>美国劳工部周四上午报告称，每周首次申请失业救济人数为 35.3 万人，比前一周的 34.9 万人略有增加。道琼斯调查的经济学家预计上周将有35万美国人申请失业。</blockquote></p><p> Economic&nbsp;growth totaled 6.6%&nbsp;in the second quarter, according to the Commerce Department’s second estimate Thursday. That was a slight revision upward from the 6.5% annual increase&nbsp;previously reported&nbsp;but slightly lower than the Dow Jones estimate of 6.7%.</p><p><blockquote>根据商务部周四的第二次估算，第二季度经济增长率为 6.6%。这比之前报告的 6.5% 的年增长率略有上调，但略低于道琼斯预期的 6.7%。</blockquote></p><p> The highly anticipated Jackson Hole symposium from the Federal Reserve will be held virtually this year on Friday, with many central bank speakers making remarks to the media beginning Thursday. At the event, central bankers could provide updates on their plan around tapering monetary stimulus.</p><p><blockquote>备受期待的美联储杰克逊霍尔研讨会将于今年周五举行，许多央行发言人将于周四开始向媒体发表讲话。在此次活动中，央行行长可以提供有关缩减货币刺激计划的最新情况。</blockquote></p><p> Esther George, president of the Kansas City Fed, told CNBC Thursday morning that “given the progress we’ve seen,” Fed&nbsp;tapering is “appropriate,”though she didn’t specify when she thinks it should start.</p><p><blockquote>堪萨斯城联储主席埃丝特-乔治（Esther George）周四上午告诉 CNBC，“鉴于我们所看到的进展”，美联储缩减规模是 “适当的”，但她没有具体说明她认为何时应该开始缩减规模。</blockquote></p><p> “When you look at the job gains we saw last month, the month before, you look at the level of inflation right now, I think it would suggest that the level of accommodation we’re providing right now is probably not needed in this scenario,” she said. “So I would be ready to talk about taper sooner rather than later.”</p><p><blockquote>“她说：”当你看看我们上个月和上个月看到的就业增长，再看看现在的通货膨胀水平，我认为这表明在这种情况下可能不需要我们现在提供的住宿水平。“因此，我准备尽早谈论缩减规模。”</blockquote></p><p> Shares of&nbsp;Salesforce&nbsp;rose nearly 4% on&nbsp;fiscal second-quarter earnings&nbsp;and forward guidance that exceeded analysts' estimates.Ulta Beauty&nbsp;rose more than 1% after reporting strong results.</p><p><blockquote>由于第二财季收益和前瞻性指引超出分析师预期，Salesforce 股价上涨近 4%。 Ulta Beauty 在公布强劲业绩后上涨超过 1%。</blockquote></p><p> Zoom Video shares jumped more than 5%&nbsp;after Morgan Stanley upgraded the stockand predicted 18% upside.</p><p><blockquote>摩根士丹利上调Zoom Video股价并预测上涨 18% 后，该股上涨超过 5%。</blockquote></p><p> On&nbsp;Wednesday, the S&amp;P 500 gained 0.22% to close at a record, led by stocks that benefit from the economic reopening like airlines, cruise lines and financials. The 500-stock average crossed the 4,500 threshold for the first time ever on Wednesday, but closed below that level. The benchmark is up 105% from its pandemic low.</p><p><blockquote>周三，标普500上涨 0.22%，收于历史新高，领涨受益于经济重新开放的股票，如航空公司、邮轮公司和金融公司。周三，500 股平均指数首次突破 4,500 点关口，但收盘低于该水平。该基准较大流行低点上涨了 105%。</blockquote></p><p> The Nasdaq Composite rose 0.15%, also notching a record close. The Dow Jones Industrial Average rose 39 points.</p><p><blockquote>纳斯达克综合指数上涨 0.15%，也创下收盘纪录。道琼斯工业平均指数上涨39点。</blockquote></p><p> “While we remain believers in the secular bull market for US equities, we have suggested raising some cash in U.S. equities given lower highs (aka bearish divergences) across a variety of indicators, weaker August-October seasonality, the Presidential Cycle moving into its weakest period and bearish signals from margin debt,” wrote Stephen Suttmeier, technical research strategist at Bank of America.</p><p><blockquote>“美国银行（Bank of America）技术研究策略师斯蒂芬-萨特迈尔（Stephen Suttmeier）写道：”虽然我们仍然相信美国股市将处于长期牛市，但鉴于各种指标的高点较低（又名看跌背离）、8-10月季节性减弱、总统周期进入最弱时期以及保证金债务的看跌信号，我们建议在美国股市中筹集一些现金。</blockquote></p><p> The yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday as concerns about slowing growth from the delta variant eased, hitting its highest level since earlier in the month when it yielded as much as 1.364%.</p><p><blockquote>由于对德尔塔变异毒株经济增长放缓的担忧有所缓解，基准 10 年期国债收益率周三升至 1.352%，触及本月早些时候收益率高达 1.364% 以来的最高水平。</blockquote></p><p> “The 10-year Treasury bond yield has continued rising in recent days and exploded higher in [Wednesday’s] trading, sending a strong message that the Delta variant of Covid may be peaking in the U.S. which should improve confidence, restart economic reopenings, and drive investment flows toward small caps and cyclicals,” said Jim Paulsen, chief investment strategist at the Leuthold Group.</p><p><blockquote>“洛伊特霍尔德集团（Leuthold Group）首席投资策略师吉姆-保尔森（Jim Paulsen）说：”10年期国债收益率最近几天持续上升，并在[周三]的交易中飙升，这发出了一个强烈的信息，即美国的Covid德尔塔变异毒株可能正在见顶，这将提振信心，重启经济重启，并推动投资流向小盘股和周期性股票。</blockquote></p><p> Chairman Jerome Powell is slated to make remarks on Friday as part of the Fed’s summit. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth in reaction to the pandemic.</p><p><blockquote>美联储主席杰罗姆-鲍威尔（Jerome Powell）定于周五在美联储峰会上发表讲话。美联储每月购买至少 1200 亿美元的债券，以抑制长期利率并促进经济增长，以应对疫情。</blockquote></p><p> “Expect investors to keep an eye on the Fed’s symposium the rest of this week for any comments about tapering or timing for interest rate hikes,” said Paulsen. “Either unexpected commentary from the Fed or a failure or success in scaling 4500 could bring additional volatility to the stock and bond markets.”</p><p><blockquote>“保尔森说：”预计投资者将在本周剩余时间里关注美联储的研讨会，以了解有关缩减规模或加息时机的任何评论。“无论是美联储的意外评论，还是攀升 4500 点的失败或成功，都可能给股票和债券市场带来额外的波动。”</blockquote></p><p> Several companies report quarterly earnings on Thursday including&nbsp;Dell Technologies,Gap,HP&nbsp;and&nbsp;Abercrombie &amp; Fitch.</p><p><blockquote>多家公司将于周四公布季度收益，包括戴尔科技、Gap、惠普和Abercrombie &amp; Fitch。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120391898","content_text":"The S&P 500 was little changed Thursday morning, following the benchmark's rally above the 4,500 level for the first time ever in the prior session, as investors await the Federal Reserve's annual symposium on Friday.\nThe Dow Jones Industrial Average rose about 24 points, or 0.1%. The S&P 500 lost 0.08% and the Nasdaq Composite fell 0.09%.\n\nWeekly initial jobless claims came in at 353,000, the Labor Department reported Thursday morning, a slight increase from the prior week’s 349,000. Economists polled by Dow Jones expected 350,000 Americans filed for unemployment last week.\nEconomic growth totaled 6.6% in the second quarter, according to the Commerce Department’s second estimate Thursday. That was a slight revision upward from the 6.5% annual increase previously reported but slightly lower than the Dow Jones estimate of 6.7%.\nThe highly anticipated Jackson Hole symposium from the Federal Reserve will be held virtually this year on Friday, with many central bank speakers making remarks to the media beginning Thursday. At the event, central bankers could provide updates on their plan around tapering monetary stimulus.\nEsther George, president of the Kansas City Fed, told CNBC Thursday morning that “given the progress we’ve seen,” Fed tapering is “appropriate,”though she didn’t specify when she thinks it should start.\n“When you look at the job gains we saw last month, the month before, you look at the level of inflation right now, I think it would suggest that the level of accommodation we’re providing right now is probably not needed in this scenario,” she said. “So I would be ready to talk about taper sooner rather than later.”\nShares of Salesforce rose nearly 4% on fiscal second-quarter earnings and forward guidance that exceeded analysts' estimates.Ulta Beauty rose more than 1% after reporting strong results.\nZoom Video shares jumped more than 5% after Morgan Stanley upgraded the stockand predicted 18% upside.\nOn Wednesday, the S&P 500 gained 0.22% to close at a record, led by stocks that benefit from the economic reopening like airlines, cruise lines and financials. The 500-stock average crossed the 4,500 threshold for the first time ever on Wednesday, but closed below that level. The benchmark is up 105% from its pandemic low.\nThe Nasdaq Composite rose 0.15%, also notching a record close. The Dow Jones Industrial Average rose 39 points.\n“While we remain believers in the secular bull market for US equities, we have suggested raising some cash in U.S. equities given lower highs (aka bearish divergences) across a variety of indicators, weaker August-October seasonality, the Presidential Cycle moving into its weakest period and bearish signals from margin debt,” wrote Stephen Suttmeier, technical research strategist at Bank of America.\nThe yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday as concerns about slowing growth from the delta variant eased, hitting its highest level since earlier in the month when it yielded as much as 1.364%.\n“The 10-year Treasury bond yield has continued rising in recent days and exploded higher in [Wednesday’s] trading, sending a strong message that the Delta variant of Covid may be peaking in the U.S. which should improve confidence, restart economic reopenings, and drive investment flows toward small caps and cyclicals,” said Jim Paulsen, chief investment strategist at the Leuthold Group.\nChairman Jerome Powell is slated to make remarks on Friday as part of the Fed’s summit. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth in reaction to the pandemic.\n“Expect investors to keep an eye on the Fed’s symposium the rest of this week for any comments about tapering or timing for interest rate hikes,” said Paulsen. “Either unexpected commentary from the Fed or a failure or success in scaling 4500 could bring additional volatility to the stock and bond markets.”\nSeveral companies report quarterly earnings on Thursday including Dell Technologies,Gap,HP and Abercrombie & Fitch.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837489588,"gmtCreate":1629905216444,"gmtModify":1631890578824,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837489588","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":1192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835593103,"gmtCreate":1629725935602,"gmtModify":1631890578827,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/835593103","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":951,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836892845,"gmtCreate":1629468540987,"gmtModify":1631893679376,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836892845","repostId":"1176518973","repostType":4,"repost":{"id":"1176518973","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629467183,"share":"https://www.laohunote.com/m/news/1176518973?lang=zh_CN&edition=full","pubTime":"2021-08-20 21:46","market":"other","language":"en","title":"Microsoft jumped over 1% and reached record high<blockquote>微软上涨超过1%，创历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176518973","media":"Tiger Newspress","summary":" $Microsoft$ jumped over 1% and reached record high.Mizuho reiterates Microsoft as buy. Mizuho raised its price target on the stock to $350 from $325 after the company announced price increases for its Microsoft 365 products. The firm said it expects the increase to have a “significant” financial impact on the company.","content":"<p>(Aug 20)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> jumped over 1% and reached record high.</p><p><blockquote>（8月20日）<a href=\"https://laohu8.com/S/MSFT\">微软</a>跃升超过1%，创历史新高。</blockquote></p><p> <b>Mizuho reiterates Microsoft as buy.&nbsp;</b>Mizuho raised its price target on the stock to $350 from $325 after the company announced price increases for its Microsoft 365 products. The firm said it expects the increase to have a “significant” financial impact on the company.</p><p><blockquote><b>瑞穗重申微软买入。</b>瑞穗宣布提高微软 365 产品的价格后，将该股目标价从 325 美元上调至 350 美元。该公司表示，预计此次加薪将对公司产生 “重大 ”财务影响。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/58d31e4415ba0e93df1ead488d443fc7\" tg-width=\"1087\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","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>Microsoft jumped over 1% and reached record high<blockquote>微软上涨超过1%，创历史新高</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\">\nMicrosoft jumped over 1% and reached record high<blockquote>微软上涨超过1%，创历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-20 21:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 20)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> jumped over 1% and reached record high.</p><p><blockquote>（8月20日）<a href=\"https://laohu8.com/S/MSFT\">微软</a>跃升超过1%，创历史新高。</blockquote></p><p> <b>Mizuho reiterates Microsoft as buy.&nbsp;</b>Mizuho raised its price target on the stock to $350 from $325 after the company announced price increases for its Microsoft 365 products. The firm said it expects the increase to have a “significant” financial impact on the company.</p><p><blockquote><b>瑞穗重申微软买入。</b>瑞穗宣布提高微软 365 产品的价格后，将该股目标价从 325 美元上调至 350 美元。该公司表示，预计此次加薪将对公司产生 “重大 ”财务影响。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/58d31e4415ba0e93df1ead488d443fc7\" tg-width=\"1087\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176518973","content_text":"(Aug 20) Microsoft jumped over 1% and reached record high.\nMizuho reiterates Microsoft as buy. Mizuho raised its price target on the stock to $350 from $325 after the company announced price increases for its Microsoft 365 products. The firm said it expects the increase to have a “significant” financial impact on the company.","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":1155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831853441,"gmtCreate":1629302515183,"gmtModify":1631893679389,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831853441","repostId":"2160379017","repostType":4,"isVote":1,"tweetType":1,"viewCount":1190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831884779,"gmtCreate":1629300619391,"gmtModify":1631893679402,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831884779","repostId":"2160737882","repostType":4,"isVote":1,"tweetType":1,"viewCount":1336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833881670,"gmtCreate":1629215708090,"gmtModify":1631893679410,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/833881670","repostId":"1115558959","repostType":4,"isVote":1,"tweetType":1,"viewCount":1231,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839992230,"gmtCreate":1629114134120,"gmtModify":1631893679421,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/839992230","repostId":"2159248377","repostType":4,"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894727846,"gmtCreate":1628859057985,"gmtModify":1631893679477,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894727846","repostId":"1137098889","repostType":4,"repost":{"id":"1137098889","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628856721,"share":"https://www.laohunote.com/m/news/1137098889?lang=zh_CN&edition=full","pubTime":"2021-08-13 20:12","market":"us","language":"en","title":"Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137098889","media":"Tiger Newspress","summary":"The Dow and the S&P 500 futures inched to record highs on Friday after Walt Disney’s forecast-beatin","content":"<p>The Dow and the S&amp;P 500 futures inched to record highs on Friday after Walt Disney’s forecast-beating results, while signs of cooling inflation and a strong recovery in corporate earnings kept the indexes on track for a second straight week of gains.</p><p><blockquote>在华特-迪斯尼（Walt Disney）业绩超出预期后，道琼斯指数和标普500期货周五小幅创下历史新高，而通胀降温和企业盈利强劲复苏的迹象使这些指数有望连续第二周上涨。</blockquote></p><p> At 8:10 a.m. ET, Dow E-minis were up 59 points, or 0.17%, S&amp;P 500 E-minis were up 1.5 points, or 0.03% and Nasdaq 100 E-minis were down 17 points, or 0.11%.</p><p><blockquote>美国东部时间上午 8:10，道琼斯电子迷你指数上涨 59 点，即 0.17%，标普500电子迷你指数上涨 1.5 点，即 0.03%，纳斯达克 100 电子迷你指数下跌 17 点，即 0.11%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7c31d72fc86500c83b0502d21899072\" tg-width=\"1172\" tg-height=\"375\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:10</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间 08:10</span></p></blockquote></p><p> A stellar earnings season, improving economic data and the Senate’s passage of a large infrastructure bill have all reinforced investors’ belief in the economic recovery, pushing U.S. stocks to all-time highs in the past few sessions.</p><p><blockquote>出色的财报季、改善的经济数据以及参议院通过的一项大型基础设施法案都增强了投资者对经济复苏的信心，推动美国股市在过去几个交易日创下历史新高。</blockquote></p><p> Concerns over higher inflation and a sooner-than-anticipated policy tapering by the Federal Reserve also ebbed after data earlier this week showed the pace of increase in U.S. consumer prices slowed in July even as producer prices posted their biggest annual increase in more than a decade.</p><p><blockquote>本周早些时候的数据显示，尽管生产者价格创下十多年来最大年度涨幅，但美国7月份消费者价格涨幅放缓，对通胀上升和美联储提前缩减政策的担忧也有所减弱。</blockquote></p><p> Investors now await the minutes of the Fed’s latest policy meeting, due next week, and the annual meeting of central bankers in Jackson Hole, Wyoming, later in August for policy cues.</p><p><blockquote>投资者目前正在等待下周举行的美联储最新政策会议纪要，以及 8 月晚些时候在怀俄明州杰克逊霍尔举行的央行行长年会议纪要，以获取政策线索。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/DIS\">Walt Disney</a> – Walt Disney reported adjusted quarterly earnings of 80 cents per share, well above the 55-cent consensus estimate, with revenue beating forecasts as well. Disney’s performance was boosted by a rebound in U.S. theme park attendance as well as stronger-than-expected growth for its Disney+ streaming service. The company did, however, warn of uncertainty surrounding the impact of the delta coronavirus variant. Disney shares rallied 5.5% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/DIS\">华特·迪士尼</a>– 华特迪士尼公布调整后季度收益为每股 80 美分，远高于 55 美分的市场普遍预期，收入也超出预期。迪士尼的业绩得益于美国主题公园游客量的反弹以及其 Disney+ 流媒体服务的增长强于预期。然而，该公司确实警告称，德尔塔新冠病毒变异毒株的影响存在不确定性。迪士尼股价盘前上涨 5.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ABNB\">Airbnb, Inc.</a> – Airbnb lost 11 cents per share for its latest quarter, smaller than the 47-cent loss that analysts were anticipating. Revenue exceeded estimates, nearly quadrupling from a year earlier as domestic travel rebounded from its pandemic lows. However, the company pointed to uncertainty surrounding the pandemic and the delta variant, and Airbnb shares slid 2.8% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/ABNB\">爱彼迎公司。</a>– 爱彼迎最新季度每股亏损 11 美分，低于分析师预期的 47 美分。随着国内旅行从疫情低点反弹，收入超出预期，同比增长近四倍。然而，该公司指出疫情和德尔塔变异毒株的不确定性，爱彼迎股价在盘前交易中下跌 2.8%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ME\">23andMe, Inc.</a> – The genetic research company reported revenue of $59 million in its first quarter as a public company, up 23% from a year ago, while reporting a smaller loss. 23andMe shares climbed 2.1% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/ME\">23andMe公司。</a>– 这家基因研究公司作为上市公司公布的第一季度收入为 5900 万美元，比去年同期增长 23%，但亏损幅度较小。23andMe 股价在盘前交易中上涨 2.1%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a> – DoorDash posted a quarterly loss of 30 cents per share, wider than the 20 cents that Wall Street had projected. However, the food delivery service’s revenue did beat estimates, with gross order volume up 70% from a year ago. DoorDash also raised its full-year guidance for gross order volume. DoorDash shares fell 4.2% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/DASH\">DoorDash公司。</a>– DoorDash 公布每股季度亏损 30 美分，高于华尔街预测的 20 美分。不过，这家送餐服务的收入确实超出了预期，订单总量比一年前增长了 70%。DoorDash 还上调了全年总订单量指引。DoorDash 股价在盘前下跌 4.2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/SOFI\">SoFi Technologies Inc.</a> – SoFi lost 48 cents per share for its second quarter, compared with analyst forecasts of a 6 cents per share loss. The digital financial services company’s revenue exceeded estimates, as membership more than doubled from a year earlier, but the stock tanked 9.6% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/SOFI\">索菲技术公司。</a>– SoFi 第二季度每股亏损 48 美分，而分析师预测每股亏损 6 美分。这家数字金融服务公司的收入超出了预期，会员人数比去年同期增加了一倍多，但其股价在盘前交易中下跌了 9.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a> ,<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a> ,<a href=\"https://laohu8.com/S/MRNA\">Moderna, Inc.</a> – The FDA authorized Covid-19 vaccine booster shots for immunocompromised people utilizing the Pfizer/BioNTech and Moderna vaccines. Pfizer added 0.2%, BioNTech climbed 2.4% and Moderna gained 2.3%.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>,<a href=\"https://laohu8.com/S/BNTX\">生物科技公司</a>,<a href=\"https://laohu8.com/S/MRNA\">现代公司。</a>– FDA 授权使用辉瑞/BioNTech 和 Moderna 疫苗为免疫功能低下的人注射 Covid-19 疫苗加强针。辉瑞上涨 0.2%，BioNTech 上涨 2.4%，Moderna 上涨 2.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ERJ\">Embraer SA</a> – The Brazilian jet maker posted its first recurring quarterly profit since the first quarter of 2018, as travel demand rebounded from the lowest levels of the pandemic. Shares jumped 3.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/ERJ\">巴西航空工业公司</a>– 随着旅行需求从疫情最低水平反弹，这家巴西喷气式飞机制造商公布了自 2018 年第一季度以来的首次经常性季度利润。盘前股价上涨 3.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> – Kansas City Southern rejected an improved takeover offer fromCanadian Pacific Railway(CP), saying it did not constitute a “superior proposal” to its agreement withCanadian National Railway(CNI). The Canadian Pacific offer is worth $27 billion compared to $29 billion for Canadian National, but Canadian Pacific feels its bid has a better chance of regulatory approval.</p><p><blockquote><a href=\"https://laohu8.com/S/KSU\">堪萨斯城南部</a>- 堪萨斯城南方公司拒绝了加拿大太平洋铁路公司（CP）提出的改进后的收购要约，称该要约并不构成其与加拿大国家铁路公司（CNI）达成的协议的 “优越要约”。加拿大太平洋航空的报价价值 270 亿美元，而加拿大国家航空的报价为 290 亿美元，但加拿大太平洋航空认为其报价获得监管部门批准的机会更大。</blockquote></p><p> <a href=\"https://laohu8.com/S/ZIP\">ZipRecruiter Inc.</a> – ZipRecruiter posted a quarterly loss of 55 cents per share, compared with a consensus estimate of a 22 cents per share loss. However, the online employment marketplace operator saw revenue well above Street forecasts and made upbeat comments about the remainder of 2021. ZipRecruiter surged 14.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/ZIP\">ZipRecruiter公司。</a>– ZipRecruiter 公布季度亏损为每股 55 美分，而市场普遍预期为每股亏损 22 美分。然而，这家在线就业市场运营商的收入远高于华尔街的预测，并对2021年剩余时间发表了乐观的评论。ZipRecruiter 在盘前飙升 14.3%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/RKT\">Rocket Companies</a> – Rocket shares gained 5.4% in premarket action despite a miss on the top and bottom lines for the online mortgage platform operator. Rocket did see a surge in closed loan origination volume over a year ago and gave upbeat current-quarter guidance for a variety of metrics.</p><p><blockquote><a href=\"https://laohu8.com/S/RKT\">火箭公司</a>– 尽管在线抵押贷款平台运营商 Rocket 的营收和利润均有所下降，但其股价在盘前交易中上涨了 5.4%。Rocket 确实看到封闭式贷款发放量比一年前激增，并对各种指标给出了乐观的本季度指引。</blockquote></p><p> <a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> – The e-commerce platform company’s stock tumbled 27.8% in the premarket, following top and bottom line misses for its latest quarter. The operator of wish.com said it saw slowing demand for its products, fewer users and active buyers, and higher costs.</p><p><blockquote><a href=\"https://laohu8.com/S/WISH\">上下文逻辑公司。</a>- 这家电子商务平台公司的股价在盘前暴跌 27.8%，原因是该公司最近一个季度的营收和利润均有所下降。wish.com 的运营商表示，其产品需求放缓，用户和活跃买家减少，成本上升。</blockquote></p><p> <a href=\"https://laohu8.com/S/ATVI\">Activision Blizzard</a> – The videogame maker’s stock added 1.1% in premarket trading after Citi upgraded it to “buy” from “neutral”, saying the current risk/reward profile looks favorable following the stock’s recent pullback.</p><p><blockquote><a href=\"https://laohu8.com/S/ATVI\">动视暴雪</a>- 这家视频游戏制造商的股票在盘前交易中上涨了 1.1%，此前花旗将其评级从 “中性 ”上调至 “买入 ”，称在该股最近的回调之后，目前的风险/回报状况看起来很有利。</blockquote></p><p></p>","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>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</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; 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}\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\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-13 20:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Dow and the S&amp;P 500 futures inched to record highs on Friday after Walt Disney’s forecast-beating results, while signs of cooling inflation and a strong recovery in corporate earnings kept the indexes on track for a second straight week of gains.</p><p><blockquote>在华特-迪斯尼（Walt Disney）业绩超出预期后，道琼斯指数和标普500期货周五小幅创下历史新高，而通胀降温和企业盈利强劲复苏的迹象使这些指数有望连续第二周上涨。</blockquote></p><p> At 8:10 a.m. ET, Dow E-minis were up 59 points, or 0.17%, S&amp;P 500 E-minis were up 1.5 points, or 0.03% and Nasdaq 100 E-minis were down 17 points, or 0.11%.</p><p><blockquote>美国东部时间上午 8:10，道琼斯电子迷你指数上涨 59 点，即 0.17%，标普500电子迷你指数上涨 1.5 点，即 0.03%，纳斯达克 100 电子迷你指数下跌 17 点，即 0.11%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7c31d72fc86500c83b0502d21899072\" tg-width=\"1172\" tg-height=\"375\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:10</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间 08:10</span></p></blockquote></p><p> A stellar earnings season, improving economic data and the Senate’s passage of a large infrastructure bill have all reinforced investors’ belief in the economic recovery, pushing U.S. stocks to all-time highs in the past few sessions.</p><p><blockquote>出色的财报季、改善的经济数据以及参议院通过的一项大型基础设施法案都增强了投资者对经济复苏的信心，推动美国股市在过去几个交易日创下历史新高。</blockquote></p><p> Concerns over higher inflation and a sooner-than-anticipated policy tapering by the Federal Reserve also ebbed after data earlier this week showed the pace of increase in U.S. consumer prices slowed in July even as producer prices posted their biggest annual increase in more than a decade.</p><p><blockquote>本周早些时候的数据显示，尽管生产者价格创下十多年来最大年度涨幅，但美国7月份消费者价格涨幅放缓，对通胀上升和美联储提前缩减政策的担忧也有所减弱。</blockquote></p><p> Investors now await the minutes of the Fed’s latest policy meeting, due next week, and the annual meeting of central bankers in Jackson Hole, Wyoming, later in August for policy cues.</p><p><blockquote>投资者目前正在等待下周举行的美联储最新政策会议纪要，以及 8 月晚些时候在怀俄明州杰克逊霍尔举行的央行行长年会议纪要，以获取政策线索。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/DIS\">Walt Disney</a> – Walt Disney reported adjusted quarterly earnings of 80 cents per share, well above the 55-cent consensus estimate, with revenue beating forecasts as well. Disney’s performance was boosted by a rebound in U.S. theme park attendance as well as stronger-than-expected growth for its Disney+ streaming service. The company did, however, warn of uncertainty surrounding the impact of the delta coronavirus variant. Disney shares rallied 5.5% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/DIS\">华特·迪士尼</a>– 华特迪士尼公布调整后季度收益为每股 80 美分，远高于 55 美分的市场普遍预期，收入也超出预期。迪士尼的业绩得益于美国主题公园游客量的反弹以及其 Disney+ 流媒体服务的增长强于预期。然而，该公司确实警告称，德尔塔新冠病毒变异毒株的影响存在不确定性。迪士尼股价盘前上涨 5.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ABNB\">Airbnb, Inc.</a> – Airbnb lost 11 cents per share for its latest quarter, smaller than the 47-cent loss that analysts were anticipating. Revenue exceeded estimates, nearly quadrupling from a year earlier as domestic travel rebounded from its pandemic lows. However, the company pointed to uncertainty surrounding the pandemic and the delta variant, and Airbnb shares slid 2.8% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/ABNB\">爱彼迎公司。</a>– 爱彼迎最新季度每股亏损 11 美分，低于分析师预期的 47 美分。随着国内旅行从疫情低点反弹，收入超出预期，同比增长近四倍。然而，该公司指出疫情和德尔塔变异毒株的不确定性，爱彼迎股价在盘前交易中下跌 2.8%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ME\">23andMe, Inc.</a> – The genetic research company reported revenue of $59 million in its first quarter as a public company, up 23% from a year ago, while reporting a smaller loss. 23andMe shares climbed 2.1% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/ME\">23andMe公司。</a>– 这家基因研究公司作为上市公司公布的第一季度收入为 5900 万美元，比去年同期增长 23%，但亏损幅度较小。23andMe 股价在盘前交易中上涨 2.1%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a> – DoorDash posted a quarterly loss of 30 cents per share, wider than the 20 cents that Wall Street had projected. However, the food delivery service’s revenue did beat estimates, with gross order volume up 70% from a year ago. DoorDash also raised its full-year guidance for gross order volume. DoorDash shares fell 4.2% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/DASH\">DoorDash公司。</a>– DoorDash 公布每股季度亏损 30 美分，高于华尔街预测的 20 美分。不过，这家送餐服务的收入确实超出了预期，订单总量比一年前增长了 70%。DoorDash 还上调了全年总订单量指引。DoorDash 股价在盘前下跌 4.2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/SOFI\">SoFi Technologies Inc.</a> – SoFi lost 48 cents per share for its second quarter, compared with analyst forecasts of a 6 cents per share loss. The digital financial services company’s revenue exceeded estimates, as membership more than doubled from a year earlier, but the stock tanked 9.6% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/SOFI\">索菲技术公司。</a>– SoFi 第二季度每股亏损 48 美分，而分析师预测每股亏损 6 美分。这家数字金融服务公司的收入超出了预期，会员人数比去年同期增加了一倍多，但其股价在盘前交易中下跌了 9.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a> ,<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a> ,<a href=\"https://laohu8.com/S/MRNA\">Moderna, Inc.</a> – The FDA authorized Covid-19 vaccine booster shots for immunocompromised people utilizing the Pfizer/BioNTech and Moderna vaccines. Pfizer added 0.2%, BioNTech climbed 2.4% and Moderna gained 2.3%.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>,<a href=\"https://laohu8.com/S/BNTX\">生物科技公司</a>,<a href=\"https://laohu8.com/S/MRNA\">现代公司。</a>– FDA 授权使用辉瑞/BioNTech 和 Moderna 疫苗为免疫功能低下的人注射 Covid-19 疫苗加强针。辉瑞上涨 0.2%，BioNTech 上涨 2.4%，Moderna 上涨 2.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/ERJ\">Embraer SA</a> – The Brazilian jet maker posted its first recurring quarterly profit since the first quarter of 2018, as travel demand rebounded from the lowest levels of the pandemic. Shares jumped 3.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/ERJ\">巴西航空工业公司</a>– 随着旅行需求从疫情最低水平反弹，这家巴西喷气式飞机制造商公布了自 2018 年第一季度以来的首次经常性季度利润。盘前股价上涨 3.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> – Kansas City Southern rejected an improved takeover offer fromCanadian Pacific Railway(CP), saying it did not constitute a “superior proposal” to its agreement withCanadian National Railway(CNI). The Canadian Pacific offer is worth $27 billion compared to $29 billion for Canadian National, but Canadian Pacific feels its bid has a better chance of regulatory approval.</p><p><blockquote><a href=\"https://laohu8.com/S/KSU\">堪萨斯城南部</a>- 堪萨斯城南方公司拒绝了加拿大太平洋铁路公司（CP）提出的改进后的收购要约，称该要约并不构成其与加拿大国家铁路公司（CNI）达成的协议的 “优越要约”。加拿大太平洋航空的报价价值 270 亿美元，而加拿大国家航空的报价为 290 亿美元，但加拿大太平洋航空认为其报价获得监管部门批准的机会更大。</blockquote></p><p> <a href=\"https://laohu8.com/S/ZIP\">ZipRecruiter Inc.</a> – ZipRecruiter posted a quarterly loss of 55 cents per share, compared with a consensus estimate of a 22 cents per share loss. However, the online employment marketplace operator saw revenue well above Street forecasts and made upbeat comments about the remainder of 2021. ZipRecruiter surged 14.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/ZIP\">ZipRecruiter公司。</a>– ZipRecruiter 公布季度亏损为每股 55 美分，而市场普遍预期为每股亏损 22 美分。然而，这家在线就业市场运营商的收入远高于华尔街的预测，并对2021年剩余时间发表了乐观的评论。ZipRecruiter 在盘前飙升 14.3%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/RKT\">Rocket Companies</a> – Rocket shares gained 5.4% in premarket action despite a miss on the top and bottom lines for the online mortgage platform operator. Rocket did see a surge in closed loan origination volume over a year ago and gave upbeat current-quarter guidance for a variety of metrics.</p><p><blockquote><a href=\"https://laohu8.com/S/RKT\">火箭公司</a>– 尽管在线抵押贷款平台运营商 Rocket 的营收和利润均有所下降，但其股价在盘前交易中上涨了 5.4%。Rocket 确实看到封闭式贷款发放量比一年前激增，并对各种指标给出了乐观的本季度指引。</blockquote></p><p> <a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> – The e-commerce platform company’s stock tumbled 27.8% in the premarket, following top and bottom line misses for its latest quarter. The operator of wish.com said it saw slowing demand for its products, fewer users and active buyers, and higher costs.</p><p><blockquote><a href=\"https://laohu8.com/S/WISH\">上下文逻辑公司。</a>- 这家电子商务平台公司的股价在盘前暴跌 27.8%，原因是该公司最近一个季度的营收和利润均有所下降。wish.com 的运营商表示，其产品需求放缓，用户和活跃买家减少，成本上升。</blockquote></p><p> <a href=\"https://laohu8.com/S/ATVI\">Activision Blizzard</a> – The videogame maker’s stock added 1.1% in premarket trading after Citi upgraded it to “buy” from “neutral”, saying the current risk/reward profile looks favorable following the stock’s recent pullback.</p><p><blockquote><a href=\"https://laohu8.com/S/ATVI\">动视暴雪</a>- 这家视频游戏制造商的股票在盘前交易中上涨了 1.1%，此前花旗将其评级从 “中性 ”上调至 “买入 ”，称在该股最近的回调之后，目前的风险/回报状况看起来很有利。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137098889","content_text":"The Dow and the S&P 500 futures inched to record highs on Friday after Walt Disney’s forecast-beating results, while signs of cooling inflation and a strong recovery in corporate earnings kept the indexes on track for a second straight week of gains.\nAt 8:10 a.m. ET, Dow E-minis were up 59 points, or 0.17%, S&P 500 E-minis were up 1.5 points, or 0.03% and Nasdaq 100 E-minis were down 17 points, or 0.11%.\n*Source From Tiger Trade, EST 08:10\nA stellar earnings season, improving economic data and the Senate’s passage of a large infrastructure bill have all reinforced investors’ belief in the economic recovery, pushing U.S. stocks to all-time highs in the past few sessions.\nConcerns over higher inflation and a sooner-than-anticipated policy tapering by the Federal Reserve also ebbed after data earlier this week showed the pace of increase in U.S. consumer prices slowed in July even as producer prices posted their biggest annual increase in more than a decade.\nInvestors now await the minutes of the Fed’s latest policy meeting, due next week, and the annual meeting of central bankers in Jackson Hole, Wyoming, later in August for policy cues.\nStocks making the biggest moves in the premarket:\nWalt Disney – Walt Disney reported adjusted quarterly earnings of 80 cents per share, well above the 55-cent consensus estimate, with revenue beating forecasts as well. Disney’s performance was boosted by a rebound in U.S. theme park attendance as well as stronger-than-expected growth for its Disney+ streaming service. The company did, however, warn of uncertainty surrounding the impact of the delta coronavirus variant. Disney shares rallied 5.5% in the premarket.\nAirbnb, Inc. – Airbnb lost 11 cents per share for its latest quarter, smaller than the 47-cent loss that analysts were anticipating. Revenue exceeded estimates, nearly quadrupling from a year earlier as domestic travel rebounded from its pandemic lows. However, the company pointed to uncertainty surrounding the pandemic and the delta variant, and Airbnb shares slid 2.8% in premarket trading.\n23andMe, Inc. – The genetic research company reported revenue of $59 million in its first quarter as a public company, up 23% from a year ago, while reporting a smaller loss. 23andMe shares climbed 2.1% in premarket action.\nDoorDash, Inc. – DoorDash posted a quarterly loss of 30 cents per share, wider than the 20 cents that Wall Street had projected. However, the food delivery service’s revenue did beat estimates, with gross order volume up 70% from a year ago. DoorDash also raised its full-year guidance for gross order volume. DoorDash shares fell 4.2% in the premarket.\nSoFi Technologies Inc. – SoFi lost 48 cents per share for its second quarter, compared with analyst forecasts of a 6 cents per share loss. The digital financial services company’s revenue exceeded estimates, as membership more than doubled from a year earlier, but the stock tanked 9.6% in premarket action.\nPfizer ,BioNTech SE ,Moderna, Inc. – The FDA authorized Covid-19 vaccine booster shots for immunocompromised people utilizing the Pfizer/BioNTech and Moderna vaccines. Pfizer added 0.2%, BioNTech climbed 2.4% and Moderna gained 2.3%.\nEmbraer SA – The Brazilian jet maker posted its first recurring quarterly profit since the first quarter of 2018, as travel demand rebounded from the lowest levels of the pandemic. Shares jumped 3.6% in the premarket.\nKansas City Southern – Kansas City Southern rejected an improved takeover offer fromCanadian Pacific Railway(CP), saying it did not constitute a “superior proposal” to its agreement withCanadian National Railway(CNI). The Canadian Pacific offer is worth $27 billion compared to $29 billion for Canadian National, but Canadian Pacific feels its bid has a better chance of regulatory approval.\nZipRecruiter Inc. – ZipRecruiter posted a quarterly loss of 55 cents per share, compared with a consensus estimate of a 22 cents per share loss. However, the online employment marketplace operator saw revenue well above Street forecasts and made upbeat comments about the remainder of 2021. ZipRecruiter surged 14.3% in the premarket.\nRocket Companies – Rocket shares gained 5.4% in premarket action despite a miss on the top and bottom lines for the online mortgage platform operator. Rocket did see a surge in closed loan origination volume over a year ago and gave upbeat current-quarter guidance for a variety of metrics.\nContextLogic Inc. – The e-commerce platform company’s stock tumbled 27.8% in the premarket, following top and bottom line misses for its latest quarter. The operator of wish.com said it saw slowing demand for its products, fewer users and active buyers, and higher costs.\nActivision Blizzard – The videogame maker’s stock added 1.1% in premarket trading after Citi upgraded it to “buy” from “neutral”, saying the current risk/reward profile looks favorable following the stock’s recent pullback.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1058,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892714326,"gmtCreate":1628689501965,"gmtModify":1631893679486,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892714326","repostId":"1101136291","repostType":4,"isVote":1,"tweetType":1,"viewCount":1254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896563414,"gmtCreate":1628594481638,"gmtModify":1631893679501,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574889845267160","idStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896563414","repostId":"2158765304","repostType":4,"isVote":1,"tweetType":1,"viewCount":971,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":359170319,"gmtCreate":1616377474731,"gmtModify":1634526177867,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"Please like and comment!","listText":"Please like and comment!","text":"Please like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/359170319","repostId":"1160065206","repostType":4,"repost":{"id":"1160065206","kind":"news","pubTimestamp":1616374606,"share":"https://www.laohunote.com/m/news/1160065206?lang=zh_CN&edition=full","pubTime":"2021-03-22 08:56","market":"us","language":"en","title":"The Fed May Have Just Sealed The Stock Market's Fate<blockquote>美联储可能刚刚决定了股市的命运</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160065206","media":"seekingalpha","summary":"Summary\n\nThe Fed's outlook of lower for as long as possible was just what stocks wanted to hear.\nHow","content":"<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>The Fed's outlook of lower for as long as possible was just what stocks wanted to hear.</li>  <li>However, that has sent US yields soaring.</li>  <li>The higher yields will force a massive repricing of equity valuation.</li>  <li>Looking for a helping hand in the market? Members of Reading The Markets get exclusive ideas and guidance to navigate any climate.</li> </ul> The Fed gave the equity market exactly what it wanted, lower for as long as possible. Unfortunately, the bond market doesn't seem as pleased, which will be horrible news for the stock market. Rising rates are crushing growth and technology stocks, and soon the rest of the market will follow because there are very few if any \"cheap\" sectors left in the market.</p><p><blockquote><ul><li>美联储尽可能长时间地降低利率的前景正是股市希望听到的。</li><li>然而，这导致我们的收益率飙升。</li><li>更高的收益率将迫使股票估值大幅重新定价。</li><li>在市场上寻找帮助？阅读市场的会员可以获得独家的想法和指导，以适应任何气候。</li></ul>美联储给了股市它想要的，尽可能长时间地走低。不幸的是，债券市场似乎并不那么高兴，这对股市来说将是一个可怕的消息。利率上升正在压垮成长型和科技股，很快市场的其他部分也将紧随其后，因为市场上几乎没有“便宜”的板块了。</blockquote></p><p> In essence, the Fed will let the economy run hot, and the bond market does not seem the least bit comfortable with that. Rates are rising sharply on March 18, with the 10-Year now trading just under 1.75%. The curve continues to lift because the bond market fears that a hot economy could quickly overheat, causing prices to rise, and inflation becomes an issue.</p><p><blockquote>从本质上讲，美联储会让经济过热，而债券市场似乎对此一点也不舒服。3 月 18 日利率大幅上升，10 年期国债目前交易价格略低于 1.75%。曲线继续上升，因为债券市场担心过热的经济可能会迅速过热，导致价格上涨，通货膨胀成为一个问题。</blockquote></p><p> It leaves the door open for the Fed to start having to taper its bond purchases and to raise rates much sooner than expected and potentially much faster than indicated. This is resulting in bond yields pushing higher. Additionally, there's a tremendous amount of debt coming to the market, with another round of fiscal stimulus passed, and more supply will need a lot more demand.</p><p><blockquote>这为美联储开始缩减债券购买规模并比预期更早、甚至可能比预期更快地加息打开了大门。这导致债券收益率走高。此外，随着新一轮财政刺激计划的通过，大量债务流入市场，更多的供应将需要更多的需求。</blockquote></p><p> While the news at first seems to be everything the stock market wants to hear, it's not good news. In fact, there was very little the Fed could have on March 17 to please both the stock and bond market. The Fed chose to placate the stock market. But stock prices are derived from interest rates, and as interest rates rise, stock prices need to reprice. They have been repricing and shall continue to reprice at lower levels.</p><p><blockquote>虽然这个消息乍一看似乎是股市想听到的一切，但这并不是好消息。事实上，美联储在3月17日几乎没有什么能让股市和债市满意。美联储选择安抚股市。但股票价格来源于利率，随着利率上升，股票价格需要重新定价。他们一直在重新定价，并将继续在较低水平重新定价。</blockquote></p><p> The problem is that now, relative to the 10-year note, the S&amp;P 500 has a valuation on par with the periods in January 2018 and October 2018. At no other time in modern history has the index been this expensive on a relative basis in this low-interest rate world. Everything changed in 2008 when we flipped from a high rate to a low rate world, so the period of 1999 would not be a fair comparison.</p><p><blockquote>问题是，现在，相对于10年期票据，标普500的估值与2018年1月和2018年10月期间相当。在这个低利率的世界里，该指数的相对价格从未如此昂贵。2008年，当我们从高利率转向低利率世界时，一切都发生了变化，所以1999年的时期不是一个公平的比较。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/06eb49f0f96fe3d05081b17e0de7ca77\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> From another angle, the S&amp;P 500 dividend yield is currently around 1.44%, and it has only been lower one other period in time, at the turn of the century. And now, the 10-Year once again has a higher yield than the S&amp;P 500. So will the 10-Year yield pull the S&amp;P 500 dividend yield over time? It seems possible. Since 2010 the 10-year has traded with a premium over the S&amp;P 500 dividend yield of 21 bps. It is currently 20 bps, which means that a movement high in the 10-year from this point is likely to result in the premium growing wider, or dragging the S&amp;P 500 yield higher along with the 10-year.</p><p><blockquote>从另一个角度来看，标普500的股息收益率目前约为1.44%，只是在世纪之交的另一个时期更低。现在，10年期国债的收益率再次高于标普500。那么，随着时间的推移，10年期收益率会拉低标普500股息收益率吗？似乎有可能。自 2010 年以来，10 年期国债的交易价格比标普500股息收益率溢价 21 个基点。目前为 20 个基点，这意味着从这一点开始，10 年期国债的高位移动可能会导致溢价扩大，或者拖累标普500收益率随着 10 年期国债的走高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d0b5613b7b88e02f76e004aededbcaa\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The rising yields in the bond market have prompted investors to refocus from growth and technology stocks to value and reflation stocks. The problem is that there is no bargain sector left - there's no \"value\" trade. The cheap stocks are cheap for a reason and because they have weak fundamentals. Over the past six months, the top ten holdings in the S&amp;P 500 Value ETF have skyrocketed.</p><p><blockquote>债券市场收益率上升促使投资者将注意力从成长型和科技股重新转向价值型和通货膨胀型股票。问题是没有讨价还价的部门了——没有“价值”贸易。廉价股票便宜是有原因的，因为它们的基本面薄弱。过去六个月，标普500价值ETF的前十大持仓量飙升。</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Name</td>    <td>Symbol</td>    <td>3/18/2021</td>    <td>10/31/2020</td>    <td>% Change</td>   </tr>   <tr>    <td>EXXON MOBIL ORD</td>    <td>XOM</td>    <td>58.25</td>    <td>$ 32.62</td>    <td>78.57%</td>   </tr>   <tr>    <td>BANK OF AMERICA ORD</td>    <td>BAC</td>    <td>39.9274</td>    <td>$ 23.70</td>    <td>68.47%</td>   </tr>   <tr>    <td>JPMORGAN CHASE ORD</td>    <td>JPM</td>    <td>161.48</td>    <td>$ 98.04</td>    <td>64.71%</td>   </tr>   <tr>    <td>WALT DISNEY ORD</td>    <td>DIS</td>    <td>193.735</td>    <td>$ 121.25</td>    <td>59.78%</td>   </tr>   <tr>    <td>CHEVRON ORD</td>    <td>CVX</td>    <td>106.65</td>    <td>$ 69.50</td>    <td>53.45%</td>   </tr>   <tr>    <td>INTEL ORD</td>    <td>INTC.O</td>    <td>64.98</td>    <td>$ 44.28</td>    <td>46.75%</td>   </tr>   <tr>    <td>BERKSHIRE HATHAWAY CL B ORD</td>    <td>BRKb</td>    <td>255.2</td>    <td>$ 201.90</td>    <td>26.40%</td>   </tr>   <tr>    <td>JOHNSON &amp; JOHNSON ORD</td>    <td>JNJ</td>    <td>161.1501</td>    <td>$ 137.11</td>    <td>17.53%</td>   </tr>   <tr>    <td>AT&amp;T ORD</td>    <td>T</td>    <td>30.245</td>    <td>$ 27.02</td>    <td>11.94%</td>   </tr>   <tr>    <td>VERIZON COMMUNICATIONS ORD</td>    <td>VZ</td>    <td>56.095</td>    <td>$ 56.99</td>    <td>-1.57%</td>   </tr>  </tbody> </table> The banks have risen sharply and for good reasons because yields have risen and spreads have widened. But even the banks are getting stretched with many trading at all-time highs, and the sector trading at valuations not witnessed since 2017, relative to the 10-year Treasury rate, making the banks one of the least overvalued sectors. The industrial sector has only been this expensive relative to the 10-year rate one time and that was in January of 2018, which was followed by nearly two years of going nowhere.</p><p><blockquote><table><tbody><tr><td>名字</td><td>象征</td><td>3/18/2021</td><td>10/31/2020</td><td>%变化</td></tr><tr><td>埃克森美孚ORD</td><td>生的</td><td>58.25</td><td>$32.62</td><td>78.57%</td></tr><tr><td>美国银行秩序</td><td>巴克</td><td>39.9274</td><td>$23.70</td><td>68.47%</td></tr><tr><td>摩根大通ORD</td><td>摩根大通</td><td>161.48</td><td>$98.04</td><td>64.71%</td></tr><tr><td>沃尔特·迪士尼</td><td>迪斯</td><td>193.735</td><td>$121.25</td><td>59.78%</td></tr><tr><td>人字形字</td><td>CVX</td><td>106.65</td><td>$69.50</td><td>53.45%</td></tr><tr><td>英特尔字</td><td>国际组织</td><td>64.98</td><td>$44.28</td><td>46.75%</td></tr><tr><td>伯克希尔哈撒韦公司 CL B ORD</td><td>布尔克布</td><td>255.2</td><td>$201.90</td><td>26.40%</td></tr><tr><td>强生公司</td><td>JNJ</td><td>161.1501</td><td>$137.11</td><td>17.53%</td></tr><tr><td>美国电话电报公司</td><td>T</td><td>30.245</td><td>$27.02</td><td>11.94%</td></tr><tr><td>威瑞森通信订单</td><td>VZ</td><td>56.095</td><td>$56.99</td><td>-1.57%</td></tr></tbody></table>银行股大幅上涨，这是有充分理由的，因为收益率上升，利差扩大。但即使是银行也因许多交易处于历史高位而捉襟见肘，相对于 10 年期国债利率，该行业的估值自 2017 年以来从未见过，这使得银行成为估值最低的行业之一。相对于 10 年期利率，工业部门只出现过一次如此昂贵的情况，那是在 2018 年 1 月，随后近两年毫无进展。</blockquote></p><p> Sure, there may be some value left out there in the materials and energy sector. But these two sectors are highly correlated to the commodities they represent. As the dollar begins to strengthen, those commodity prices are likely to begin falling rather sharply, dragging the sectors lower with them. That dollar seems poised to rise.</p><p><blockquote>当然，材料和能源领域可能还有一些价值。但这两个部门与它们所代表的商品高度相关。随着美元开始走强，这些大宗商品价格可能会开始大幅下跌，从而拖累各行业走低。美元似乎准备上涨。</blockquote></p><p> The dollar initially began to fall following the fears of inflation, but that quickly reversed when US rates began to rise again. That allowed the spread between global rates to widen. The spread between the US and German 10-Year now stands at 2%, while US and Japanese 10-years are at 1.65%. The wider the spreads get, the more attractive US yields become. This will bring foreign investors to buy US bonds, sell local currency, and buy US dollars, supporting the dollar and boosting its value.</p><p><blockquote>由于对通胀的担忧，美元最初开始下跌，但当美国利率开始再次上升时，这种情况很快逆转。这使得全球利率之间的利差扩大。美国和德国10年期国债之间的利差目前为2%，而美国和日本10年期国债之间的利差为1.65%。利差越大，美国收益率就越有吸引力。这将带来外国投资者买入美国债券，卖出本币，买入美元，支撑美元并提振其价值。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3b38756db2fb8fdb2e613fa9d05a36e7\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source: TradingView</p><p><blockquote>来源：TradingView</blockquote></p><p> The rising dollar already has helped to bring oil prices off their highs, and that's a trend that's likely to continue as the dollar strengthens further. Oil has already broken down from a technical standpoint after failing at a key level of resistance around $66.50. It has additionally broken a major uptrend, with a drop below $59.50, sending the commodity back to $54. This could easily reverse the very hot rotation into the energy sector.</p><p><blockquote>美元升值已经帮助油价摆脱高位，随着美元进一步走强，这一趋势可能会继续下去。从技术角度来看，油价在跌破 66.50 美元左右的关键阻力位后已经下跌。它还打破了一个主要的上升趋势，跌破59.50美元，使大宗商品回到54美元。这可以很容易地扭转能源领域的火热轮换。</blockquote></p><p> Source: TradingView</p><p><blockquote>来源：TradingView</blockquote></p><p> If the economy will continue to improve, and the Fed is more than happy to let it, then there's no reason yields shouldn't continue to rise. The more they raise, the more the dollar will strengthen, and the more overvalued equities will grow on a relative basis, forcing a massive repricing.</p><p><blockquote>如果经济将继续改善，并且美联储非常乐意允许这种情况发生，那么收益率没有理由不继续上升。他们筹集的资金越多，美元就会走强，被高估的股票就会相对增长，迫使大规模重新定价。</blockquote></p><p></p>","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>The Fed May Have Just Sealed The Stock Market's Fate<blockquote>美联储可能刚刚决定了股市的命运</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\">\nThe Fed May Have Just Sealed The Stock Market's Fate<blockquote>美联储可能刚刚决定了股市的命运</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-03-22 08:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>The Fed's outlook of lower for as long as possible was just what stocks wanted to hear.</li>  <li>However, that has sent US yields soaring.</li>  <li>The higher yields will force a massive repricing of equity valuation.</li>  <li>Looking for a helping hand in the market? Members of Reading The Markets get exclusive ideas and guidance to navigate any climate.</li> </ul> The Fed gave the equity market exactly what it wanted, lower for as long as possible. Unfortunately, the bond market doesn't seem as pleased, which will be horrible news for the stock market. Rising rates are crushing growth and technology stocks, and soon the rest of the market will follow because there are very few if any \"cheap\" sectors left in the market.</p><p><blockquote><ul><li>美联储尽可能长时间地降低利率的前景正是股市希望听到的。</li><li>然而，这导致我们的收益率飙升。</li><li>更高的收益率将迫使股票估值大幅重新定价。</li><li>在市场上寻找帮助？阅读市场的会员可以获得独家的想法和指导，以适应任何气候。</li></ul>美联储给了股市它想要的，尽可能长时间地走低。不幸的是，债券市场似乎并不那么高兴，这对股市来说将是一个可怕的消息。利率上升正在压垮成长型和科技股，很快市场的其他部分也将紧随其后，因为市场上几乎没有“便宜”的板块了。</blockquote></p><p> In essence, the Fed will let the economy run hot, and the bond market does not seem the least bit comfortable with that. Rates are rising sharply on March 18, with the 10-Year now trading just under 1.75%. The curve continues to lift because the bond market fears that a hot economy could quickly overheat, causing prices to rise, and inflation becomes an issue.</p><p><blockquote>从本质上讲，美联储会让经济过热，而债券市场似乎对此一点也不舒服。3 月 18 日利率大幅上升，10 年期国债目前交易价格略低于 1.75%。曲线继续上升，因为债券市场担心过热的经济可能会迅速过热，导致价格上涨，通货膨胀成为一个问题。</blockquote></p><p> It leaves the door open for the Fed to start having to taper its bond purchases and to raise rates much sooner than expected and potentially much faster than indicated. This is resulting in bond yields pushing higher. Additionally, there's a tremendous amount of debt coming to the market, with another round of fiscal stimulus passed, and more supply will need a lot more demand.</p><p><blockquote>这为美联储开始缩减债券购买规模并比预期更早、甚至可能比预期更快地加息打开了大门。这导致债券收益率走高。此外，随着新一轮财政刺激计划的通过，大量债务流入市场，更多的供应将需要更多的需求。</blockquote></p><p> While the news at first seems to be everything the stock market wants to hear, it's not good news. In fact, there was very little the Fed could have on March 17 to please both the stock and bond market. The Fed chose to placate the stock market. But stock prices are derived from interest rates, and as interest rates rise, stock prices need to reprice. They have been repricing and shall continue to reprice at lower levels.</p><p><blockquote>虽然这个消息乍一看似乎是股市想听到的一切，但这并不是好消息。事实上，美联储在3月17日几乎没有什么能让股市和债市满意。美联储选择安抚股市。但股票价格来源于利率，随着利率上升，股票价格需要重新定价。他们一直在重新定价，并将继续在较低水平重新定价。</blockquote></p><p> The problem is that now, relative to the 10-year note, the S&amp;P 500 has a valuation on par with the periods in January 2018 and October 2018. At no other time in modern history has the index been this expensive on a relative basis in this low-interest rate world. Everything changed in 2008 when we flipped from a high rate to a low rate world, so the period of 1999 would not be a fair comparison.</p><p><blockquote>问题是，现在，相对于10年期票据，标普500的估值与2018年1月和2018年10月期间相当。在这个低利率的世界里，该指数的相对价格从未如此昂贵。2008年，当我们从高利率转向低利率世界时，一切都发生了变化，所以1999年的时期不是一个公平的比较。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/06eb49f0f96fe3d05081b17e0de7ca77\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> From another angle, the S&amp;P 500 dividend yield is currently around 1.44%, and it has only been lower one other period in time, at the turn of the century. And now, the 10-Year once again has a higher yield than the S&amp;P 500. So will the 10-Year yield pull the S&amp;P 500 dividend yield over time? It seems possible. Since 2010 the 10-year has traded with a premium over the S&amp;P 500 dividend yield of 21 bps. It is currently 20 bps, which means that a movement high in the 10-year from this point is likely to result in the premium growing wider, or dragging the S&amp;P 500 yield higher along with the 10-year.</p><p><blockquote>从另一个角度来看，标普500的股息收益率目前约为1.44%，只是在世纪之交的另一个时期更低。现在，10年期国债的收益率再次高于标普500。那么，随着时间的推移，10年期收益率会拉低标普500股息收益率吗？似乎有可能。自 2010 年以来，10 年期国债的交易价格比标普500股息收益率溢价 21 个基点。目前为 20 个基点，这意味着从这一点开始，10 年期国债的高位移动可能会导致溢价扩大，或者拖累标普500收益率随着 10 年期国债的走高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d0b5613b7b88e02f76e004aededbcaa\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The rising yields in the bond market have prompted investors to refocus from growth and technology stocks to value and reflation stocks. The problem is that there is no bargain sector left - there's no \"value\" trade. The cheap stocks are cheap for a reason and because they have weak fundamentals. Over the past six months, the top ten holdings in the S&amp;P 500 Value ETF have skyrocketed.</p><p><blockquote>债券市场收益率上升促使投资者将注意力从成长型和科技股重新转向价值型和通货膨胀型股票。问题是没有讨价还价的部门了——没有“价值”贸易。廉价股票便宜是有原因的，因为它们的基本面薄弱。过去六个月，标普500价值ETF的前十大持仓量飙升。</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Name</td>    <td>Symbol</td>    <td>3/18/2021</td>    <td>10/31/2020</td>    <td>% Change</td>   </tr>   <tr>    <td>EXXON MOBIL ORD</td>    <td>XOM</td>    <td>58.25</td>    <td>$ 32.62</td>    <td>78.57%</td>   </tr>   <tr>    <td>BANK OF AMERICA ORD</td>    <td>BAC</td>    <td>39.9274</td>    <td>$ 23.70</td>    <td>68.47%</td>   </tr>   <tr>    <td>JPMORGAN CHASE ORD</td>    <td>JPM</td>    <td>161.48</td>    <td>$ 98.04</td>    <td>64.71%</td>   </tr>   <tr>    <td>WALT DISNEY ORD</td>    <td>DIS</td>    <td>193.735</td>    <td>$ 121.25</td>    <td>59.78%</td>   </tr>   <tr>    <td>CHEVRON ORD</td>    <td>CVX</td>    <td>106.65</td>    <td>$ 69.50</td>    <td>53.45%</td>   </tr>   <tr>    <td>INTEL ORD</td>    <td>INTC.O</td>    <td>64.98</td>    <td>$ 44.28</td>    <td>46.75%</td>   </tr>   <tr>    <td>BERKSHIRE HATHAWAY CL B ORD</td>    <td>BRKb</td>    <td>255.2</td>    <td>$ 201.90</td>    <td>26.40%</td>   </tr>   <tr>    <td>JOHNSON &amp; JOHNSON ORD</td>    <td>JNJ</td>    <td>161.1501</td>    <td>$ 137.11</td>    <td>17.53%</td>   </tr>   <tr>    <td>AT&amp;T ORD</td>    <td>T</td>    <td>30.245</td>    <td>$ 27.02</td>    <td>11.94%</td>   </tr>   <tr>    <td>VERIZON COMMUNICATIONS ORD</td>    <td>VZ</td>    <td>56.095</td>    <td>$ 56.99</td>    <td>-1.57%</td>   </tr>  </tbody> </table> The banks have risen sharply and for good reasons because yields have risen and spreads have widened. But even the banks are getting stretched with many trading at all-time highs, and the sector trading at valuations not witnessed since 2017, relative to the 10-year Treasury rate, making the banks one of the least overvalued sectors. The industrial sector has only been this expensive relative to the 10-year rate one time and that was in January of 2018, which was followed by nearly two years of going nowhere.</p><p><blockquote><table><tbody><tr><td>名字</td><td>象征</td><td>3/18/2021</td><td>10/31/2020</td><td>%变化</td></tr><tr><td>埃克森美孚ORD</td><td>生的</td><td>58.25</td><td>$32.62</td><td>78.57%</td></tr><tr><td>美国银行秩序</td><td>巴克</td><td>39.9274</td><td>$23.70</td><td>68.47%</td></tr><tr><td>摩根大通ORD</td><td>摩根大通</td><td>161.48</td><td>$98.04</td><td>64.71%</td></tr><tr><td>沃尔特·迪士尼</td><td>迪斯</td><td>193.735</td><td>$121.25</td><td>59.78%</td></tr><tr><td>人字形字</td><td>CVX</td><td>106.65</td><td>$69.50</td><td>53.45%</td></tr><tr><td>英特尔字</td><td>国际组织</td><td>64.98</td><td>$44.28</td><td>46.75%</td></tr><tr><td>伯克希尔哈撒韦公司 CL B ORD</td><td>布尔克布</td><td>255.2</td><td>$201.90</td><td>26.40%</td></tr><tr><td>强生公司</td><td>JNJ</td><td>161.1501</td><td>$137.11</td><td>17.53%</td></tr><tr><td>美国电话电报公司</td><td>T</td><td>30.245</td><td>$27.02</td><td>11.94%</td></tr><tr><td>威瑞森通信订单</td><td>VZ</td><td>56.095</td><td>$56.99</td><td>-1.57%</td></tr></tbody></table>银行股大幅上涨，这是有充分理由的，因为收益率上升，利差扩大。但即使是银行也因许多交易处于历史高位而捉襟见肘，相对于 10 年期国债利率，该行业的估值自 2017 年以来从未见过，这使得银行成为估值最低的行业之一。相对于 10 年期利率，工业部门只出现过一次如此昂贵的情况，那是在 2018 年 1 月，随后近两年毫无进展。</blockquote></p><p> Sure, there may be some value left out there in the materials and energy sector. But these two sectors are highly correlated to the commodities they represent. As the dollar begins to strengthen, those commodity prices are likely to begin falling rather sharply, dragging the sectors lower with them. That dollar seems poised to rise.</p><p><blockquote>当然，材料和能源领域可能还有一些价值。但这两个部门与它们所代表的商品高度相关。随着美元开始走强，这些大宗商品价格可能会开始大幅下跌，从而拖累各行业走低。美元似乎准备上涨。</blockquote></p><p> The dollar initially began to fall following the fears of inflation, but that quickly reversed when US rates began to rise again. That allowed the spread between global rates to widen. The spread between the US and German 10-Year now stands at 2%, while US and Japanese 10-years are at 1.65%. The wider the spreads get, the more attractive US yields become. This will bring foreign investors to buy US bonds, sell local currency, and buy US dollars, supporting the dollar and boosting its value.</p><p><blockquote>由于对通胀的担忧，美元最初开始下跌，但当美国利率开始再次上升时，这种情况很快逆转。这使得全球利率之间的利差扩大。美国和德国10年期国债之间的利差目前为2%，而美国和日本10年期国债之间的利差为1.65%。利差越大，美国收益率就越有吸引力。这将带来外国投资者买入美国债券，卖出本币，买入美元，支撑美元并提振其价值。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3b38756db2fb8fdb2e613fa9d05a36e7\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Source: TradingView</p><p><blockquote>来源：TradingView</blockquote></p><p> The rising dollar already has helped to bring oil prices off their highs, and that's a trend that's likely to continue as the dollar strengthens further. Oil has already broken down from a technical standpoint after failing at a key level of resistance around $66.50. It has additionally broken a major uptrend, with a drop below $59.50, sending the commodity back to $54. This could easily reverse the very hot rotation into the energy sector.</p><p><blockquote>美元升值已经帮助油价摆脱高位，随着美元进一步走强，这一趋势可能会继续下去。从技术角度来看，油价在跌破 66.50 美元左右的关键阻力位后已经下跌。它还打破了一个主要的上升趋势，跌破59.50美元，使大宗商品回到54美元。这可以很容易地扭转能源领域的火热轮换。</blockquote></p><p> Source: TradingView</p><p><blockquote>来源：TradingView</blockquote></p><p> If the economy will continue to improve, and the Fed is more than happy to let it, then there's no reason yields shouldn't continue to rise. The more they raise, the more the dollar will strengthen, and the more overvalued equities will grow on a relative basis, forcing a massive repricing.</p><p><blockquote>如果经济将继续改善，并且美联储非常乐意允许这种情况发生，那么收益率没有理由不继续上升。他们筹集的资金越多，美元就会走强，被高估的股票就会相对增长，迫使大规模重新定价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4414816-fed-may-just-sealed-stock-markets-fate\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4414816-fed-may-just-sealed-stock-markets-fate","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160065206","content_text":"Summary\n\nThe Fed's outlook of lower for as long as possible was just what stocks wanted to hear.\nHowever, that has sent US yields soaring.\nThe higher yields will force a massive repricing of equity valuation.\nLooking for a helping hand in the market? Members of Reading The Markets get exclusive ideas and guidance to navigate any climate.\n\nThe Fed gave the equity market exactly what it wanted, lower for as long as possible. Unfortunately, the bond market doesn't seem as pleased, which will be horrible news for the stock market. Rising rates are crushing growth and technology stocks, and soon the rest of the market will follow because there are very few if any \"cheap\" sectors left in the market.\nIn essence, the Fed will let the economy run hot, and the bond market does not seem the least bit comfortable with that. Rates are rising sharply on March 18, with the 10-Year now trading just under 1.75%. The curve continues to lift because the bond market fears that a hot economy could quickly overheat, causing prices to rise, and inflation becomes an issue.\nIt leaves the door open for the Fed to start having to taper its bond purchases and to raise rates much sooner than expected and potentially much faster than indicated. This is resulting in bond yields pushing higher. Additionally, there's a tremendous amount of debt coming to the market, with another round of fiscal stimulus passed, and more supply will need a lot more demand.\nWhile the news at first seems to be everything the stock market wants to hear, it's not good news. In fact, there was very little the Fed could have on March 17 to please both the stock and bond market. The Fed chose to placate the stock market. But stock prices are derived from interest rates, and as interest rates rise, stock prices need to reprice. They have been repricing and shall continue to reprice at lower levels.\nThe problem is that now, relative to the 10-year note, the S&P 500 has a valuation on par with the periods in January 2018 and October 2018. At no other time in modern history has the index been this expensive on a relative basis in this low-interest rate world. Everything changed in 2008 when we flipped from a high rate to a low rate world, so the period of 1999 would not be a fair comparison.\n\nFrom another angle, the S&P 500 dividend yield is currently around 1.44%, and it has only been lower one other period in time, at the turn of the century. And now, the 10-Year once again has a higher yield than the S&P 500. So will the 10-Year yield pull the S&P 500 dividend yield over time? It seems possible. Since 2010 the 10-year has traded with a premium over the S&P 500 dividend yield of 21 bps. It is currently 20 bps, which means that a movement high in the 10-year from this point is likely to result in the premium growing wider, or dragging the S&P 500 yield higher along with the 10-year.\n\nThe rising yields in the bond market have prompted investors to refocus from growth and technology stocks to value and reflation stocks. The problem is that there is no bargain sector left - there's no \"value\" trade. The cheap stocks are cheap for a reason and because they have weak fundamentals. Over the past six months, the top ten holdings in the S&P 500 Value ETF have skyrocketed.\n\n\n\nName\nSymbol\n3/18/2021\n10/31/2020\n% Change\n\n\nEXXON MOBIL ORD\nXOM\n58.25\n$ 32.62\n78.57%\n\n\nBANK OF AMERICA ORD\nBAC\n39.9274\n$ 23.70\n68.47%\n\n\nJPMORGAN CHASE ORD\nJPM\n161.48\n$ 98.04\n64.71%\n\n\nWALT DISNEY ORD\nDIS\n193.735\n$ 121.25\n59.78%\n\n\nCHEVRON ORD\nCVX\n106.65\n$ 69.50\n53.45%\n\n\nINTEL ORD\nINTC.O\n64.98\n$ 44.28\n46.75%\n\n\nBERKSHIRE HATHAWAY CL B ORD\nBRKb\n255.2\n$ 201.90\n26.40%\n\n\nJOHNSON & JOHNSON ORD\nJNJ\n161.1501\n$ 137.11\n17.53%\n\n\nAT&T ORD\nT\n30.245\n$ 27.02\n11.94%\n\n\nVERIZON COMMUNICATIONS ORD\nVZ\n56.095\n$ 56.99\n-1.57%\n\n\n\nThe banks have risen sharply and for good reasons because yields have risen and spreads have widened. But even the banks are getting stretched with many trading at all-time highs, and the sector trading at valuations not witnessed since 2017, relative to the 10-year Treasury rate, making the banks one of the least overvalued sectors. The industrial sector has only been this expensive relative to the 10-year rate one time and that was in January of 2018, which was followed by nearly two years of going nowhere.\nSure, there may be some value left out there in the materials and energy sector. But these two sectors are highly correlated to the commodities they represent. As the dollar begins to strengthen, those commodity prices are likely to begin falling rather sharply, dragging the sectors lower with them. That dollar seems poised to rise.\nThe dollar initially began to fall following the fears of inflation, but that quickly reversed when US rates began to rise again. That allowed the spread between global rates to widen. The spread between the US and German 10-Year now stands at 2%, while US and Japanese 10-years are at 1.65%. The wider the spreads get, the more attractive US yields become. This will bring foreign investors to buy US bonds, sell local currency, and buy US dollars, supporting the dollar and boosting its value.\n\nSource: TradingView\nThe rising dollar already has helped to bring oil prices off their highs, and that's a trend that's likely to continue as the dollar strengthens further. Oil has already broken down from a technical standpoint after failing at a key level of resistance around $66.50. It has additionally broken a major uptrend, with a drop below $59.50, sending the commodity back to $54. This could easily reverse the very hot rotation into the energy sector.\nSource: TradingView\nIf the economy will continue to improve, and the Fed is more than happy to let it, then there's no reason yields shouldn't continue to rise. The more they raise, the more the dollar will strengthen, and the more overvalued equities will grow on a relative basis, forcing a massive repricing.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327572950,"gmtCreate":1616113896770,"gmtModify":1634527189179,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"Like and comment please [开心]&nbsp;","listText":"Like and comment please [开心]&nbsp;","text":"Like and comment please [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/327572950","repostId":"1103812798","repostType":4,"isVote":1,"tweetType":1,"viewCount":847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":154348348,"gmtCreate":1625484192484,"gmtModify":1633940303488,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/154348348","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohunote.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年的7月4日是星期天，在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么主要市场在假期会开放还是关闭呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整收盘日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11 月 26 日星期五，交易时间为美国东部时间上午 9:30 至下午 1 点，为期半天多一点。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为美国东部时间上午 9:30 至下午 4 点。</blockquote></p><p></p>","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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股市是开市还是休市？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年的7月4日是星期天，在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么主要市场在假期会开放还是关闭呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整收盘日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11 月 26 日星期五，交易时间为美国东部时间上午 9:30 至下午 1 点，为期半天多一点。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为美国东部时间上午 9:30 至下午 4 点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191826668,"gmtCreate":1620870627754,"gmtModify":1634195728822,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Anger]&nbsp;","listText":"[Anger]&nbsp;","text":"[Anger]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/191826668","repostId":"2135584610","repostType":4,"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115121973,"gmtCreate":1622960570692,"gmtModify":1634096546645,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/115121973","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohunote.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","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>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</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\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIBS":"1stdibs.com Inc.","ZETA":"Zeta Global Holdings Corp.","TASK":"TaskUs Inc.","ZME":"掌门教育","LFST":"LifeStance Health Group, Inc.","MQ":"Marqeta, Inc.",".IXIC":"NASDAQ Composite","BZ":"BOSS直聘",".SPX":"S&P 500 Index","MNDY":"Monday.com Ltd.",".DJI":"道琼斯"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"DIBS":0.9,"ZME":0.9,".DJI":0.9,"MQ":0.9,".IXIC":0.9,"TASK":0.9,"LFST":0.9,"ZETA":0.9,"BZ":0.9,".SPX":0.9,"MNDY":0.9}},"isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325770561,"gmtCreate":1615940613353,"gmtModify":1703495234716,"author":{"id":"3574889845267160","authorId":"3574889845267160","name":"Lunchenmeat","avatar":"https://static.tigerbbs.com/acd5a0ac49c26186e6eb58c8fb6d7c34","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574889845267160","authorIdStr":"3574889845267160"},"themes":[],"title":"","htmlText":"Go china go! Please like and reply","listText":"Go china go! Please like and reply","text":"Go china go! 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