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2021-12-01

Ok

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2021-11-05

Ok

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2021-11-05

$Alibaba(BABA)$where earnings???

2021-11-04

Ok

Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商 Allbirds 上市首日股价飙升 110%</blockquote>

2021-10-19

Ok

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2021-10-16

Ok

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2021-10-15

Ok

4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得购买的 4 只势不可挡的股票</blockquote>

2021-10-13

$SEA LTD(SE)$DIPS ARE OVER. LET’S FLYAGAIN

2021-10-07

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2021-10-06

Ok

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2021-10-05

Ok

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2021-10-03

Ok

Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市暴跌，标普500自一月份以来首次月度下跌</blockquote>

2021-10-01

$Palantir Technologies Inc.(PLTR)$START AGAIN

2021-10-01

Ok

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2021-09-28

Ok

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2021-09-26

$Alibaba(BABA)$DONT PAPER HANDS. BTFD

2021-09-22

Ok

抱歉，原内容已删除

2021-09-20

Ok

Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港股市触及11个月低点</blockquote>

2021-09-17

Ok

Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做这件事。沃尔玛也是。为什么零售业喜欢 “先买后付”</blockquote>

2021-09-16

$Alibaba(BABA)$BOUGHT THE DIP

去老虎APP查看更多动态

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01:25","market":"us","language":"en","title":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商 Allbirds 上市首日股价飙升 110%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145835908","media":"Barrons","summary":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.\n\nAllbirds, the sustaina","content":"<p>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.</p><p><blockquote>环保运动鞋制造商 Allbirds 首日交易股价飙升 110%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8cf1dc39281c0616417e6baa42058c2\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Allbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.</p><p><blockquote>可持续鞋类公司 Allbirds 在扩大 IPO 规模后筹集了近 3.03 亿美元，其定价也高于预期价格范围。</blockquote></p><p> Allbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds 周二晚间表示，该公司以每股 15 美元的价格出售了约 2020 万股股票，高于计划以每股 12 至 14 美元的价格发售的 1920 万股股票。按每股 15 美元计算，这家初创公司的估值约为 21.5 亿美元。它将于周三在纳斯达克交易，股票代码为 BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>17 家投资银行正在筹备 Allbirds 的 IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds 是第四季度已经或将推出的几家备受期待的 IPO 之一。芯片制造商 GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries 的股价较上市时 47 美元的 IPO 价格下跌 1.3%，使该公司市值达到 248 亿美元。亚马逊支持的全电动卡车制造商Rivian将于 11 月 10 日上市。Rivian正在寻求600亿美元的估值。由伯克希尔哈撒韦公司支持的巴西数字贷款机构 Nubank 也已申请上市，目标估值为 506 亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制造鞋类。该公司的羊毛跑步运动鞋被评级为世界上最舒适的鞋子，采用可持续采购的美利奴羊毛制成。该公司所有鞋子都采用了 SweetFoam 鞋底技术，该技术采用了负碳的绿色乙烯-醋酸乙烯酯。羊毛跑步运动鞋在Allbirds网站上售价98美元，而羊毛居民拖鞋售价65美元。</blockquote></p><p></p>","source":"lsy1601382232898","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>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商 Allbirds 上市首日股价飙升 110%</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\">\nEco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商 Allbirds 上市首日股价飙升 110%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-04 01:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.</p><p><blockquote>环保运动鞋制造商 Allbirds 首日交易股价飙升 110%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8cf1dc39281c0616417e6baa42058c2\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Allbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.</p><p><blockquote>可持续鞋类公司 Allbirds 在扩大 IPO 规模后筹集了近 3.03 亿美元，其定价也高于预期价格范围。</blockquote></p><p> Allbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds 周二晚间表示，该公司以每股 15 美元的价格出售了约 2020 万股股票，高于计划以每股 12 至 14 美元的价格发售的 1920 万股股票。按每股 15 美元计算，这家初创公司的估值约为 21.5 亿美元。它将于周三在纳斯达克交易，股票代码为 BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>17 家投资银行正在筹备 Allbirds 的 IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds 是第四季度已经或将推出的几家备受期待的 IPO 之一。芯片制造商 GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries 的股价较上市时 47 美元的 IPO 价格下跌 1.3%，使该公司市值达到 248 亿美元。亚马逊支持的全电动卡车制造商Rivian将于 11 月 10 日上市。Rivian正在寻求600亿美元的估值。由伯克希尔哈撒韦公司支持的巴西数字贷款机构 Nubank 也已申请上市，目标估值为 506 亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制造鞋类。该公司的羊毛跑步运动鞋被评级为世界上最舒适的鞋子，采用可持续采购的美利奴羊毛制成。该公司所有鞋子都采用了 SweetFoam 鞋底技术，该技术采用了负碳的绿色乙烯-醋酸乙烯酯。羊毛跑步运动鞋在Allbirds网站上售价98美元，而羊毛居民拖鞋售价65美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST\">Barrons</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":{"BIRD":"Smartbird"},"source_url":"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145835908","content_text":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.\n\nAllbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.\nAllbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.\nSeventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.\nAllbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries (ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.\nFounded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.","news_type":1,"symbols_score_info":{"BIRD":0.9}},"isVote":1,"tweetType":1,"viewCount":5130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":850426228,"gmtCreate":1634619084944,"gmtModify":1634619085455,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850426228","repostId":"2176120817","repostType":4,"isVote":1,"tweetType":1,"viewCount":3491,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":827001887,"gmtCreate":1634362157765,"gmtModify":1634362158281,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/827001887","repostId":"2175146556","repostType":4,"isVote":1,"tweetType":1,"viewCount":4596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825481808,"gmtCreate":1634254954793,"gmtModify":1634274402882,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825481808","repostId":"1184483169","repostType":4,"repost":{"id":"1184483169","kind":"news","pubTimestamp":1634205641,"share":"https://www.laohunote.com/m/news/1184483169?lang=zh_CN&edition=full","pubTime":"2021-10-14 18:00","market":"us","language":"en","title":"4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得购买的 4 只势不可挡的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184483169","media":"Motley Fool","summary":"Crashes and corrections are the perfect opportunity to buy great companies at a discount.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的要普遍得多。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我接下来要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>最近，基准<b>标普500</b>10个月来首次回调至少5%。尽管华尔街没有任何保证，但许多迹象似乎表明，大盘下行的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场下跌</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500有38次两位数的百分比下降。这相当于平均每 1.87 年至少下降 10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了 1.5 年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>基于这一点，过去 60 年来，大盘在崩盘或调整后的反应非常相似。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都出现了一两次10%的下跌。这告诉我们，从熊市中反弹是一个过程，而且几乎永远不会出现投资者 18 个多月以来一直享受的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出警告。原油和天然气价格的快速上涨威胁着钱包，并可能在疫情引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在 2021 年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三次保证金债务在一年内上涨60%或以上。前两次发生在互联网泡沫破裂和金融危机爆发前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也令人担忧。标准普尔 500 指数的席勒市盈率 (P/E) 为 37.7，是 151 年平均水平 16.9 的两倍多。也许更令人担忧的是，标准普尔 500 指数的席勒市盈率在 151 年中仅五次突破过该水平并保持在 30 点。在席勒市盈率见顶后，前四个例子的最小跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但这个故事还有另一面。尽管股市调整经常发生，但它们最终总是会被牛市反弹抹去。在崩盘或调整期间以折扣价购买伟大的公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性的上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入选择。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦公司</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦公司</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）是巴菲特经营的企业集团，自 1965 年初以来，平均年回报率为 20%（总回报率接近 3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔哈撒韦公司的投资组合之所以成功，主要有两个原因。首先，它具有很强的周期性，该公司约 85% 的投资资产与科技股、金融股和必需消费品有关。尽管奥马哈先知完全意识到衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很长时间。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。在未来 12 个月内，伯克希尔哈撒韦公司应收取超过 50 亿美元的普通股和优先股息，相对于该公司的投资成本，收益率约为 5%。沃伦·巴菲特已经证明，通过收购具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易所代码：TCNNF）如果发生崩盘或调整，看起来就会买入势不可挡。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为一种非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve 确实区别于其他大麻股票。随着大多数多州运营商(MSO)在十几个合法的美国市场开店，Trulieve将大部分注意力集中在医用大麻合法化的佛罗里达州。Trulieve在阳光之州有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利了三年多。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve 最近完成了对 MSO Harvest Health &amp; Recreation 的全部股权收购。这笔交易将其推向了新的市场，最重要的是，使其成为亚利桑那州的主要参与者，亚利桑那州于 2020 年 11 月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和高于市场的股息收益率吗？制药公司<b>维亚特里斯</b>（纳斯达克股票代码：VTRS）及其 3.2% 的收益率很可能是在股市崩盘或调整时不可阻挡的购买股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris 于不到一年前由辉瑞老牌药物部门 UpJohn 与仿制药公司 Mylan 合并而成，正式成立。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两个制药巨头结合起来应该会产生显着的效率。预计到 2023 年，年度成本协同效应将超过 10 亿美元。此外，Viatris 的管理团队预计到 2023 年底将公司的债务负担从合并完成时的 260 亿美元削减至 195 亿美元。未偿债务减少意味着更大的财务灵活性，并且有可能重新启动公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris真正的魅力在于对其产品需求的一致性。由于医疗保健股具有高度防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris 领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris 的远期市盈率低于 4，其市盈率几乎是医疗保健领域的数倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只势不可挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea 拥有三个异常快速增长的运营部门，有朝一日可能会将其估值推至 1 万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是数字娱乐部门，主要包括移动游戏。截至 6 月底，Sea 拥有 7.25 亿季度活跃用户，其中 12.7%（9220 万）是付费游戏用户。整个博彩业的平均付费游戏比率接近2%。此外，第二季度每个用户的平均预订量从去年同期的 1.40 美元上升到 1.60 美元。目前，这是唯一一个产生正息税折旧摊销前利润（EBITDA）的细分市场。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea 拥有快速增长的电子商务平台，即 Shopee。在最近一个季度，Shopee 处理了 14 亿份总订单（同比增长 127%）和 150 亿美元的商品总价值 (GMV)。在某些情况下，Shopee 在 2018 年全年处理了 100 亿美元的 GMV。该公司的年在线零售运行率在 2.5 年内增长了六倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有 3270 万付费数字钱包用户，并在截至 6 月份的季度监管了超过 41 亿美元的支付。由于 Sea 服务的许多新兴市场银行服务不足，数字钱包可能是该公司偷偷摸摸的长期增长故事。</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>4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得购买的 4 只势不可挡的股票</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\">\n4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得购买的 4 只势不可挡的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-14 18:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的要普遍得多。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我接下来要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>最近，基准<b>标普500</b>10个月来首次回调至少5%。尽管华尔街没有任何保证，但许多迹象似乎表明，大盘下行的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场下跌</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500有38次两位数的百分比下降。这相当于平均每 1.87 年至少下降 10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了 1.5 年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>基于这一点，过去 60 年来，大盘在崩盘或调整后的反应非常相似。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都出现了一两次10%的下跌。这告诉我们，从熊市中反弹是一个过程，而且几乎永远不会出现投资者 18 个多月以来一直享受的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出警告。原油和天然气价格的快速上涨威胁着钱包，并可能在疫情引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在 2021 年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三次保证金债务在一年内上涨60%或以上。前两次发生在互联网泡沫破裂和金融危机爆发前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也令人担忧。标准普尔 500 指数的席勒市盈率 (P/E) 为 37.7，是 151 年平均水平 16.9 的两倍多。也许更令人担忧的是，标准普尔 500 指数的席勒市盈率在 151 年中仅五次突破过该水平并保持在 30 点。在席勒市盈率见顶后，前四个例子的最小跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但这个故事还有另一面。尽管股市调整经常发生，但它们最终总是会被牛市反弹抹去。在崩盘或调整期间以折扣价购买伟大的公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性的上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入选择。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦公司</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦公司</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）是巴菲特经营的企业集团，自 1965 年初以来，平均年回报率为 20%（总回报率接近 3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔哈撒韦公司的投资组合之所以成功，主要有两个原因。首先，它具有很强的周期性，该公司约 85% 的投资资产与科技股、金融股和必需消费品有关。尽管奥马哈先知完全意识到衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很长时间。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。在未来 12 个月内，伯克希尔哈撒韦公司应收取超过 50 亿美元的普通股和优先股息，相对于该公司的投资成本，收益率约为 5%。沃伦·巴菲特已经证明，通过收购具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易所代码：TCNNF）如果发生崩盘或调整，看起来就会买入势不可挡。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为一种非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve 确实区别于其他大麻股票。随着大多数多州运营商(MSO)在十几个合法的美国市场开店，Trulieve将大部分注意力集中在医用大麻合法化的佛罗里达州。Trulieve在阳光之州有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利了三年多。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve 最近完成了对 MSO Harvest Health &amp; Recreation 的全部股权收购。这笔交易将其推向了新的市场，最重要的是，使其成为亚利桑那州的主要参与者，亚利桑那州于 2020 年 11 月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和高于市场的股息收益率吗？制药公司<b>维亚特里斯</b>（纳斯达克股票代码：VTRS）及其 3.2% 的收益率很可能是在股市崩盘或调整时不可阻挡的购买股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris 于不到一年前由辉瑞老牌药物部门 UpJohn 与仿制药公司 Mylan 合并而成，正式成立。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两个制药巨头结合起来应该会产生显着的效率。预计到 2023 年，年度成本协同效应将超过 10 亿美元。此外，Viatris 的管理团队预计到 2023 年底将公司的债务负担从合并完成时的 260 亿美元削减至 195 亿美元。未偿债务减少意味着更大的财务灵活性，并且有可能重新启动公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris真正的魅力在于对其产品需求的一致性。由于医疗保健股具有高度防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris 领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris 的远期市盈率低于 4，其市盈率几乎是医疗保健领域的数倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只势不可挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea 拥有三个异常快速增长的运营部门，有朝一日可能会将其估值推至 1 万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是数字娱乐部门，主要包括移动游戏。截至 6 月底，Sea 拥有 7.25 亿季度活跃用户，其中 12.7%（9220 万）是付费游戏用户。整个博彩业的平均付费游戏比率接近2%。此外，第二季度每个用户的平均预订量从去年同期的 1.40 美元上升到 1.60 美元。目前，这是唯一一个产生正息税折旧摊销前利润（EBITDA）的细分市场。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea 拥有快速增长的电子商务平台，即 Shopee。在最近一个季度，Shopee 处理了 14 亿份总订单（同比增长 127%）和 150 亿美元的商品总价值 (GMV)。在某些情况下，Shopee 在 2018 年全年处理了 100 亿美元的 GMV。该公司的年在线零售运行率在 2.5 年内增长了六倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有 3270 万付费数字钱包用户，并在截至 6 月份的季度监管了超过 41 亿美元的支付。由于 Sea 服务的许多新兴市场银行服务不足，数字钱包可能是该公司偷偷摸摸的长期增长故事。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/\">Motley Fool</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":{"TCNNF":"TRULIEVE CANNABIS CORP","BRK.A":"伯克希尔","SE":"Sea Ltd","VTRS":"Viatris Inc.","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184483169","content_text":"Key Points\n\nDouble-digit percentage declines in the broader market are more common than investors realize.\nThere are no shortage of catalysts that could cause a stock market crash or correction.\nBuying this quartet of unstoppable companies during a broad-market decline would be a wise move.\n\n\nSome investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.\nRecently, the benchmark S&P 500 underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.\nIMAGE SOURCE: GETTY IMAGES.\nThere are a laundry list of catalysts that could send the market lower\nFor instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.\nTo build on this point, the broader market has responded very similarly following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.\nMacroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.\nThere's also margin debt, which has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.\nEven valuations are a concern. The S&P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.\nIMAGE SOURCE: GETTY IMAGES.\nCrashes and corrections are an opportunity to buy great stocks at a discount\nBut there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.\nIf a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.\nBerkshire Hathaway\nOne of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).\nBerkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.\nThe other catalyst working in the company's favor is its dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.\nIMAGE SOURCE: GETTY IMAGES.\nTrulieve Cannabis\nIf growth stocks are more your thing,marijuana stockTrulieve Cannabis(OTC:TCNNF) has the look of an unstoppable buy if a crash or correction strikes.\nFirst of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.\nMore specific to Trulieve, it's really differentiated itself from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.\nSaturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.\nWhat's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health & Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.\nIMAGE SOURCE: GETTY IMAGES.\nViatris\nWant deep-discount value and a market-topping dividend yield? Drug-companyViatris(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.\nViatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.\nAs you might imagine, combining two drug juggernauts should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.\nThe real beauty of Viatris is the consistency of demand for its products. Since healthcare stocks are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.\nWith a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.\nIMAGE SOURCE: GETTY IMAGES.\nSea Limited\nA fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based Sea Limited(NYSE:SE). Sea has three exceptionally fast-growing operating segments that could one day push its valuation to $1 trillion.\nFirst, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).\nSecond, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and $15 billion in gross merchandise value (GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.\nLastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"TCNNF":0.9,"SE":0.9,"BRK.A":0.9,"VTRS":0.9}},"isVote":1,"tweetType":1,"viewCount":3603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822288802,"gmtCreate":1634134595653,"gmtModify":1634134595829,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>DIPS ARE OVER. LET’S FLYAGAIN","listText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>DIPS ARE OVER. LET’S FLYAGAIN","text":"$SEA LTD(SE)$DIPS ARE OVER. LET’S FLYAGAIN","images":[{"img":"https://static.tigerbbs.com/9ec865b1d1d1b1b2c4b8c7c91600de88","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/822288802","isVote":1,"tweetType":1,"viewCount":5404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":823138181,"gmtCreate":1633596373897,"gmtModify":1633596374317,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823138181","repostId":"2173948202","repostType":4,"isVote":1,"tweetType":1,"viewCount":3646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829847592,"gmtCreate":1633492369547,"gmtModify":1633492370003,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829847592","repostId":"1140243685","repostType":4,"isVote":1,"tweetType":1,"viewCount":4863,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820574167,"gmtCreate":1633409370593,"gmtModify":1633409371087,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/820574167","repostId":"1140558350","repostType":4,"isVote":1,"tweetType":1,"viewCount":1250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867800376,"gmtCreate":1633232257522,"gmtModify":1633232257967,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/867800376","repostId":"1166373612","repostType":4,"repost":{"id":"1166373612","kind":"news","pubTimestamp":1633043917,"share":"https://www.laohunote.com/m/news/1166373612?lang=zh_CN&edition=full","pubTime":"2021-10-01 07:18","market":"us","language":"en","title":"Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市暴跌，标普500自一月份以来首次月度下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166373612","media":"Yahoo Finance","summary":"Stocks sank on Thursday in the final session of September and the third quarter, with stocks extendi","content":"<p>Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.</p><p><blockquote>周四，股市在 9 月和第三季度的最后一个交易日下跌，由于对通胀、经济背景的担忧以及华盛顿关于一系列措施的辩论给股市带来压力，股市延续了长达数周的波动。</blockquote></p><p> The S&amp;P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&amp;P 500 remained up by about 15% for the year-to-date through Thursday's close.</p><p><blockquote>标普500收盘下跌1.2%。该指数 9 月份下跌超过 4.5%，为 1 月份以来首次月度下跌，对财政和货币政策、通胀、中国监管以及持续的疫情的担忧都相互碰撞，导致股市偏离上涨轨迹。尽管如此，截至周四收盘，标普500今年迄今仍上涨约 15%。</blockquote></p><p> Cyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&amp;P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.</p><p><blockquote>尽管周四交易时段下跌，但由于投资者押注通胀上升和利率上升，周期性股票在 9 月份领涨。原油价格的上涨使能源行业成为标普500迄今为止表现最好的行业。金融股也表现出色，国债收益率上升成为银行盈利能力的推动力。</blockquote></p><p> The Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.</p><p><blockquote>过去一个月，纳斯达克表现不佳，因为交易员纷纷远离去年推动市场走高的成长型和科技股。随着过去一周美国国债收益率飙升，飙升的科技股也受到打击，借贷成本上升给严重依赖未来强劲盈利预期的成长型公司的估值带来压力。</blockquote></p><p> “This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.</p><p><blockquote>“Heritage Capital 总裁保罗-沙茨（Paul Schatz）周三对雅虎财经直播说：”这种感觉比实际情况要糟糕得多，因为自去年 10 月、去年 9 月以来，我们就没有太大的波动。</blockquote></p><p> Concerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath &amp; Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.</p><p><blockquote>周四，对通胀和供应链问题的担忧继续阻碍市场。Bed Bath &amp; Beyond 的股价下跌了 22.1%，此前该公司表示这些问题损害了公司第二季度的业绩，这一消息似乎打击了其他零售股。沃尔格林博姿联盟和家得宝分别下跌 3.4% 和近 2.6%，成为道琼斯指数中表现最差的两家公司。</blockquote></p><p> Energy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.</p><p><blockquote>最近几周表现最好的能源和金融股周四有所回落。高盛股价下跌 1.7%，摩根大通股价下跌 1.3%。</blockquote></p><p> Tech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.</p><p><blockquote>科技股周四表现优异，但纳斯达克仍连续第五个交易日下跌。科技股受到近期 10 年期国债收益率飙升的打击，本周早些时候该收益率突破 1.567%。该措施周四略有回落。</blockquote></p><p> Rising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.</p><p><blockquote>由于对通胀的担忧以及美联储将很快开始逐步减少大流行病时期的资产购买的信号，收益率上升被视为对科技股的利空，因为这使得遥远的未来利润对投资者的吸引力下降。</blockquote></p><p> “We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.</p><p><blockquote>“我们一直在谈论阴森恐怖的季节--9 月和 10 月--以及从高点下降约 5% 的预期。.但我们说过，我们预计不会出现回调，”DWS 集团的大卫-比安科（David Bianco）说。修正通常被定义为从近期高点回调超过 10%。</blockquote></p><p> “We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.</p><p><blockquote>“我们预计收益率会攀升，这也是我们成为跑赢大盘银行的原因，但我们预计收益率不会激增。如果收益率没有激增，我们就可以接受这些[估值]，”比安科补充道。</blockquote></p><p> Shares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.</p><p><blockquote>苹果和亚马逊的股价在早盘交易中走高后收盘下跌。芯片巨头英伟达 (Nvidia) 和 Netflix 设法保持了涨幅，但收盘价远远低于盘中高点。</blockquote></p><p> “We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.</p><p><blockquote>“Vital Knowledge 的亚当-克里萨富利（Adam Crisafulli）写道：”我们今天不会陷入任何季度末的阴谋诡计，并继续建议涨势逐渐消退（尤其是科技股），因为未来几周仍将不稳定。</blockquote></p><p> September’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&amp;P 500 held on to a modest gain and is still up nearly 15% on the year.</p><p><blockquote>9 月份的亏损导致市场第三季度表现疲软。3个月期间，道琼斯指数下跌1.9%，纳斯达克综合指数下跌0.4%。标普500保持小幅上涨，今年仍上涨近15%。</blockquote></p><p> October has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&amp;P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.</p><p><blockquote>十月以剧烈抛售而闻名，但总体而言，这通常是股票季节性表现更好的开始。根据《股票交易员年鉴》（The Stock Trader's Almanac）的数据，标普500本月平均上涨 0.8%。</blockquote></p><p> Investors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.</p><p><blockquote>随着国会通过一项法案，为政府提供资金直至 12 月初，投资者也在密切关注华盛顿。该法案将避免政府关门，但国会仍未提高债务上限，财政部长珍妮特·耶伦表示，债务上限将于 10 月 18 日达到。</blockquote></p><p> Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”</p><p><blockquote>耶伦和美联储主席杰罗姆·鲍威尔周四在众议院金融服务委员会作证。耶伦重申了她对国会提高债务上限的看涨期权，称不这样做将是 “灾难性的”。</blockquote></p><p> On the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.</p><p><blockquote>数据方面，前一周首次申请失业救济人数为 362,000 人。根据道琼斯的数据，经济学家预计印刷量为 335,000 份。10 月份就业报告将于 10 月 8 日发布，该报告被视为美联储下一步行动的关键指标。</blockquote></p><p> Here were the main moves in markets as of 4:09 p.m. ET:</p><p><blockquote>以下是截至下午 4:09 的市场主要走势ET：</blockquote></p><p></p><p> <ul>  <li><b>S&amp;P 500 (^GSPC)</b>: -51.92 (-1.19%) to 4,307.54</p><p><blockquote><ul><li><b>标普500（^GSPC）</b>：-51.92 (-1.19%) 至 4,307.54</li></ul></blockquote></p><p></li>  <li><b>Dow (^DJI)</b>: -546.80 (-1.59%) to 33,843.92</p><p><blockquote><li><b>道琼斯指数（^DJI）</b>：-546.80 (-1.59%) 至 33,843.92</li></blockquote></p><p></li>  <li><b>Nasdaq (^IXIC)</b>: -63.86 (-0.44%) to 14,448.58</p><p><blockquote><li><b>纳斯达克（^IXIC）</b>：-63.86 (-0.44%) 至 14,448.58</li></blockquote></p><p></li>  <li><b>Crude (CL=F)</b>: +$0.11 (+0.15%) to $74.94 a barrel</p><p><blockquote><li><b>原油（CL=F）</b>：每桶 +0.11 美元 (+0.15%) 至 74.94 美元</li></blockquote></p><p></li>  <li><b>Gold (GC=F)</b>: +$33.70 (+1.96%) to $1,756.60 per ounce</p><p><blockquote><li><b>金（GC=F）</b>：+33.70 美元（+1.96%）至每盎司 1,756.60 美元</li></blockquote></p><p></li>  <li><b>10-year Treasury (^TNX)</b>: -1.2 bps to yield 1.5290%</p><p><blockquote><li><b>10年期国债(^TNX)</b>：-1.2 个基点，收益率为 1.5290%</li></blockquote></p><p></li> </ul> —</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>Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市暴跌，标普500自一月份以来首次月度下跌</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\">\nStocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市暴跌，标普500自一月份以来首次月度下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-10-01 07:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.</p><p><blockquote>周四，股市在 9 月和第三季度的最后一个交易日下跌，由于对通胀、经济背景的担忧以及华盛顿关于一系列措施的辩论给股市带来压力，股市延续了长达数周的波动。</blockquote></p><p> The S&amp;P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&amp;P 500 remained up by about 15% for the year-to-date through Thursday's close.</p><p><blockquote>标普500收盘下跌1.2%。该指数 9 月份下跌超过 4.5%，为 1 月份以来首次月度下跌，对财政和货币政策、通胀、中国监管以及持续的疫情的担忧都相互碰撞，导致股市偏离上涨轨迹。尽管如此，截至周四收盘，标普500今年迄今仍上涨约 15%。</blockquote></p><p> Cyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&amp;P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.</p><p><blockquote>尽管周四交易时段下跌，但由于投资者押注通胀上升和利率上升，周期性股票在 9 月份领涨。原油价格的上涨使能源行业成为标普500迄今为止表现最好的行业。金融股也表现出色，国债收益率上升成为银行盈利能力的推动力。</blockquote></p><p> The Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.</p><p><blockquote>过去一个月，纳斯达克表现不佳，因为交易员纷纷远离去年推动市场走高的成长型和科技股。随着过去一周美国国债收益率飙升，飙升的科技股也受到打击，借贷成本上升给严重依赖未来强劲盈利预期的成长型公司的估值带来压力。</blockquote></p><p> “This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.</p><p><blockquote>“Heritage Capital 总裁保罗-沙茨（Paul Schatz）周三对雅虎财经直播说：”这种感觉比实际情况要糟糕得多，因为自去年 10 月、去年 9 月以来，我们就没有太大的波动。</blockquote></p><p> Concerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath &amp; Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.</p><p><blockquote>周四，对通胀和供应链问题的担忧继续阻碍市场。Bed Bath &amp; Beyond 的股价下跌了 22.1%，此前该公司表示这些问题损害了公司第二季度的业绩，这一消息似乎打击了其他零售股。沃尔格林博姿联盟和家得宝分别下跌 3.4% 和近 2.6%，成为道琼斯指数中表现最差的两家公司。</blockquote></p><p> Energy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.</p><p><blockquote>最近几周表现最好的能源和金融股周四有所回落。高盛股价下跌 1.7%，摩根大通股价下跌 1.3%。</blockquote></p><p> Tech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.</p><p><blockquote>科技股周四表现优异，但纳斯达克仍连续第五个交易日下跌。科技股受到近期 10 年期国债收益率飙升的打击，本周早些时候该收益率突破 1.567%。该措施周四略有回落。</blockquote></p><p> Rising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.</p><p><blockquote>由于对通胀的担忧以及美联储将很快开始逐步减少大流行病时期的资产购买的信号，收益率上升被视为对科技股的利空，因为这使得遥远的未来利润对投资者的吸引力下降。</blockquote></p><p> “We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.</p><p><blockquote>“我们一直在谈论阴森恐怖的季节--9 月和 10 月--以及从高点下降约 5% 的预期。.但我们说过，我们预计不会出现回调，”DWS 集团的大卫-比安科（David Bianco）说。修正通常被定义为从近期高点回调超过 10%。</blockquote></p><p> “We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.</p><p><blockquote>“我们预计收益率会攀升，这也是我们成为跑赢大盘银行的原因，但我们预计收益率不会激增。如果收益率没有激增，我们就可以接受这些[估值]，”比安科补充道。</blockquote></p><p> Shares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.</p><p><blockquote>苹果和亚马逊的股价在早盘交易中走高后收盘下跌。芯片巨头英伟达 (Nvidia) 和 Netflix 设法保持了涨幅，但收盘价远远低于盘中高点。</blockquote></p><p> “We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.</p><p><blockquote>“Vital Knowledge 的亚当-克里萨富利（Adam Crisafulli）写道：”我们今天不会陷入任何季度末的阴谋诡计，并继续建议涨势逐渐消退（尤其是科技股），因为未来几周仍将不稳定。</blockquote></p><p> September’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&amp;P 500 held on to a modest gain and is still up nearly 15% on the year.</p><p><blockquote>9 月份的亏损导致市场第三季度表现疲软。3个月期间，道琼斯指数下跌1.9%，纳斯达克综合指数下跌0.4%。标普500保持小幅上涨，今年仍上涨近15%。</blockquote></p><p> October has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&amp;P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.</p><p><blockquote>十月以剧烈抛售而闻名，但总体而言，这通常是股票季节性表现更好的开始。根据《股票交易员年鉴》（The Stock Trader's Almanac）的数据，标普500本月平均上涨 0.8%。</blockquote></p><p> Investors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.</p><p><blockquote>随着国会通过一项法案，为政府提供资金直至 12 月初，投资者也在密切关注华盛顿。该法案将避免政府关门，但国会仍未提高债务上限，财政部长珍妮特·耶伦表示，债务上限将于 10 月 18 日达到。</blockquote></p><p> Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”</p><p><blockquote>耶伦和美联储主席杰罗姆·鲍威尔周四在众议院金融服务委员会作证。耶伦重申了她对国会提高债务上限的看涨期权，称不这样做将是 “灾难性的”。</blockquote></p><p> On the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.</p><p><blockquote>数据方面，前一周首次申请失业救济人数为 362,000 人。根据道琼斯的数据，经济学家预计印刷量为 335,000 份。10 月份就业报告将于 10 月 8 日发布，该报告被视为美联储下一步行动的关键指标。</blockquote></p><p> Here were the main moves in markets as of 4:09 p.m. ET:</p><p><blockquote>以下是截至下午 4:09 的市场主要走势ET：</blockquote></p><p></p><p> <ul>  <li><b>S&amp;P 500 (^GSPC)</b>: -51.92 (-1.19%) to 4,307.54</p><p><blockquote><ul><li><b>标普500（^GSPC）</b>：-51.92 (-1.19%) 至 4,307.54</li></ul></blockquote></p><p></li>  <li><b>Dow (^DJI)</b>: -546.80 (-1.59%) to 33,843.92</p><p><blockquote><li><b>道琼斯指数（^DJI）</b>：-546.80 (-1.59%) 至 33,843.92</li></blockquote></p><p></li>  <li><b>Nasdaq (^IXIC)</b>: -63.86 (-0.44%) to 14,448.58</p><p><blockquote><li><b>纳斯达克（^IXIC）</b>：-63.86 (-0.44%) 至 14,448.58</li></blockquote></p><p></li>  <li><b>Crude (CL=F)</b>: +$0.11 (+0.15%) to $74.94 a barrel</p><p><blockquote><li><b>原油（CL=F）</b>：每桶 +0.11 美元 (+0.15%) 至 74.94 美元</li></blockquote></p><p></li>  <li><b>Gold (GC=F)</b>: +$33.70 (+1.96%) to $1,756.60 per ounce</p><p><blockquote><li><b>金（GC=F）</b>：+33.70 美元（+1.96%）至每盎司 1,756.60 美元</li></blockquote></p><p></li>  <li><b>10-year Treasury (^TNX)</b>: -1.2 bps to yield 1.5290%</p><p><blockquote><li><b>10年期国债(^TNX)</b>：-1.2 个基点，收益率为 1.5290%</li></blockquote></p><p></li> </ul> —</p><p><blockquote>—</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/stock-market-news-live-updates-september-30-2021-223533367.html\">Yahoo Finance</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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/stock-market-news-live-updates-september-30-2021-223533367.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166373612","content_text":"Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.\nThe S&P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&P 500 remained up by about 15% for the year-to-date through Thursday's close.\nCyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.\nThe Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.\n“This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.\nConcerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath & Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.\nEnergy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.\nTech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.\nRising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.\n“We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.\n“We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.\nShares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.\n“We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.\nSeptember’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&P 500 held on to a modest gain and is still up nearly 15% on the year.\nOctober has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.\nInvestors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.\nYellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”\nOn the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.\nHere were the main moves in markets as of 4:09 p.m. ET:\n\nS&P 500 (^GSPC): -51.92 (-1.19%) to 4,307.54\nDow (^DJI): -546.80 (-1.59%) to 33,843.92\nNasdaq (^IXIC): -63.86 (-0.44%) to 14,448.58\nCrude (CL=F): +$0.11 (+0.15%) to $74.94 a barrel\nGold (GC=F): +$33.70 (+1.96%) to $1,756.60 per ounce\n10-year Treasury (^TNX): -1.2 bps to yield 1.5290%\n\n—","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864128354,"gmtCreate":1633076225719,"gmtModify":1633076236064,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","text":"$Palantir Technologies Inc.(PLTR)$START AGAIN","images":[{"img":"https://static.tigerbbs.com/d966669d5ec2e8b6575bbcd085df41e5","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/864128354","isVote":1,"tweetType":1,"viewCount":1482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":864960128,"gmtCreate":1633049519382,"gmtModify":1633049519854,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864960128","repostId":"1194635458","repostType":4,"isVote":1,"tweetType":1,"viewCount":1268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866460725,"gmtCreate":1632797239167,"gmtModify":1632797565444,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866460725","repostId":"2170624172","repostType":4,"isVote":1,"tweetType":1,"viewCount":971,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868616711,"gmtCreate":1632638444133,"gmtModify":1632647380378,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>DONT PAPER HANDS. 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The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货比周五现金收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至 30 年来高点后可能会进行盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌 0.5%，标普500期货下跌 0.3%，在令人失望的美国消费者信心数据后，华尔街上周收盘走软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管人们普遍认为实际宣布将推迟到 11 月或 12 月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋平。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB 经济总监塔帕斯·斯特里克兰 (Tapas Strickland) 警告称：“收益率曲线趋平表明人们担心美联储可能会过度加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，只有 2-3 名 FOMC 成员需要改变他们对 2022 年加息的“点阵图”预测，以使其成为中位数，因为 18 名成员中有 7 名已经暗示明年加息。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定 2024 年的 DOT，这将表明潜在加息周期的陡峭程度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场共识是 2023 年加息两次，2024 年加息四次，长期联邦基金利率为 2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都将召开会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>挪威银行预计将成为G10中第一个加息的银行。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>较高的美国收益率加上普遍的避险情绪，有利于美元，一篮子货币兑美元汇率接近93.303的一个月高点。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元汇率在109.96区间波动，而欧元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，因为这场比赛与看涨期权的选情太接近了。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强令金价承压，金价在上周下跌 1.9% 后收于每盎司 1,749 美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>由于美国墨西哥湾的能源公司在该地区连续发生的飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌 54 美分，至每桶 74.80 美元，美国原油下跌 57 美分，至每桶 71.40 美元。</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>Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港股市触及11个月低点</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; 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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\">\nAsia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港股市触及11个月低点</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\">2021-09-20 11:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>亚洲股市下跌，美元周一坚挺，本周央行将召开不少于十几次会议，美联储可能会朝着缩减规模迈出又一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况恶化，而加拿大和德国的选举将在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌超过4%，跌至近11个月来的最低点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际 (MSCI) 日本以外最广泛的亚太股票指数继上周下跌 2.5% 后，又下跌 1.4%，其中澳大利亚下跌 1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货比周五现金收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至 30 年来高点后可能会进行盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌 0.5%，标普500期货下跌 0.3%，在令人失望的美国消费者信心数据后，华尔街上周收盘走软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管人们普遍认为实际宣布将推迟到 11 月或 12 月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋平。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB 经济总监塔帕斯·斯特里克兰 (Tapas Strickland) 警告称：“收益率曲线趋平表明人们担心美联储可能会过度加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，只有 2-3 名 FOMC 成员需要改变他们对 2022 年加息的“点阵图”预测，以使其成为中位数，因为 18 名成员中有 7 名已经暗示明年加息。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定 2024 年的 DOT，这将表明潜在加息周期的陡峭程度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场共识是 2023 年加息两次，2024 年加息四次，长期联邦基金利率为 2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都将召开会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>挪威银行预计将成为G10中第一个加息的银行。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>较高的美国收益率加上普遍的避险情绪，有利于美元，一篮子货币兑美元汇率接近93.303的一个月高点。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元汇率在109.96区间波动，而欧元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，因为这场比赛与看涨期权的选情太接近了。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强令金价承压，金价在上周下跌 1.9% 后收于每盎司 1,749 美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>由于美国墨西哥湾的能源公司在该地区连续发生的飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌 54 美分，至每桶 74.80 美元，美国原油下跌 57 美分，至每桶 71.40 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCCI":"红筹指数","HSTECH":"恒生科技指数","HSI":"恒生指数","HSCEI":"国企指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147800593","content_text":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.\nHolidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.\nThe stocks in Hong Kong skidded more than 4% to their lowest in almost 11 months.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan slid another 1.4%, after shedding 2.5% last week, with Australia down 1.5%.\nJapan's Nikkei was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.\nNasdaq futures eased 0.5% and S&P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.\nThe Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.\nYields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.\n\"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.\nHe noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.\n\"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"\nThe market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.\nCentral banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.\nThe Norges Bank is expected to be the first in the G10 to raise interest rates.\nHigher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.\nIt was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.\nCanada goes to the polls on Monday with the race too close to call.\nThe firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.\nOil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.\nBrent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.","news_type":1,"symbols_score_info":{"HSCEI":0.9,"HSTECH":0.9,"HSCCI":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":947,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884941662,"gmtCreate":1631850342356,"gmtModify":1631890256627,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884941662","repostId":"1168707929","repostType":4,"repost":{"id":"1168707929","kind":"news","pubTimestamp":1631802521,"share":"https://www.laohunote.com/m/news/1168707929?lang=zh_CN&edition=full","pubTime":"2021-09-16 22:28","market":"us","language":"en","title":"Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做这件事。沃尔玛也是。为什么零售业喜欢 “先买后付”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168707929","media":"The Wall Street Journal","summary":"Retailers big and small are using installment plans to wring more sales out of shoppers who can’t ge","content":"<p>Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards</p><p><blockquote>大大小小的零售商都在使用分期付款计划，从无法获得信用卡的购物者那里榨取更多销售额</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108a4007d95b3e93e4d3fe6d678d8339\" tg-width=\"1290\" tg-height=\"859\" width=\"100%\" height=\"auto\"><span>Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.</span></p><p><blockquote><p class=\"t-img-caption\"><span>梅西百货首席执行官杰夫-根内特（Jeff Gennette）在最近的一次财报看涨期权上说，购物者在使用 Klarna 银行提供的分期付款计划时，在梅西百货的消费会更多。</span></p></blockquote></p><p> Alexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.</p><p><blockquote>2019 年，Alexis Luedtke 在申请信用卡被拒后，获得了她的第一个 “先买后付 ”计划。从那以后，她至少又用了五个钱来买面霜、T恤和生日礼物。</blockquote></p><p> Installment plans are back&nbsp;in style.PayPal Holdings&nbsp;Inc.&nbsp;last week&nbsp;said it was buying Japanese installment payment startup&nbsp;Paidy Inc., following Square Inc.’s&nbsp;$29 billion deal&nbsp;for&nbsp;Afterpay&nbsp;Ltd.Macy’s&nbsp;Inc.&nbsp;and&nbsp;Bed Bath &amp; Beyond&nbsp;Inc.&nbsp;have added the option at checkout over the past year. Even&nbsp;Amazon.com&nbsp;Inc.&nbsp;is doing it.</p><p><blockquote>PayPal Holdings Inc. 继 Square Inc. 以 290 亿美元收购 Afterpay Ltd. 之后，PayPal Holdings Inc. 和 Bed Bath &amp; Beyond Inc.甚至亚马逊公司也在这么做。</blockquote></p><p> One reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.</p><p><blockquote>原因之一： 像 Luedtke 女士这样没有资格使用信用卡的购物者。先买后付的公司表示，他们较少依赖传统信用评分和报告，在某些情况下甚至完全绕过传统信用评分和报告。这样做可以让他们认可更多的消费者。即使手头没有现金，购物者也能购买商品，这意味着零售商的销售额会更高。</blockquote></p><p> Afterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings&nbsp;Inc.&nbsp;last year said purchases made with its payment plans were 85% larger, on average.</p><p><blockquote>Affirm Holdings Inc. Affirm Holdings Inc. Affirm Holdings Inc.</blockquote></p><p> Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.</p><p><blockquote>梅西百货首席执行官杰夫-根内特（Jeff Gennette）在最近的一次财报看涨期权上说，购物者在使用 Klarna Bank AB 提供的分期付款计划时，在梅西百货的消费会更多。他说，Klarna 还在帮助零售商吸引年轻顾客。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40620bab35c446816da175fb2334c05e\" tg-width=\"435\" tg-height=\"562\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.</p><p><blockquote>“Klarna 北美负责人 David Sykes 说：”大多数零售商在“先买后付”中看到的价值是客户获取。</blockquote></p><p> Ms. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.</p><p><blockquote>26岁的Luedtke女士现在有信用卡，但仍然更喜欢分期付款计划。就在上个月，她用它们从Shein购买了价值约40美元的Peter Thomas Roth护肤品和65美元的衣服。</blockquote></p><p> “It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”</p><p><blockquote>“她说：”这肯定会影响我多买多少或多花多少钱。“与现在的 200 美元相比，在这么多周内支付 200 美元要容易得多”。</blockquote></p><p> Buy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.</p><p><blockquote>先买后付是对旧观念的新改动。几十年来，大型零售商一直为洗衣机等大件商品提供分期付款计划。如今，这些计划有多种口味。Afterpay 提供购物者通常附在借记卡上的付款计划。其他公司，如 Affirm，也为新贷款提供便利。</blockquote></p><p> Interest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.</p><p><blockquote>利率和其他条款因付款计划提供商而异。Affirm 的利率范围为 0% 至 30%，上一财年约有 43% 的交易根本不收取利息。公司不收取滞纳金。Afterpay 不收取利息，但收取滞纳金。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/223a1da79b30869fc443b06f41a959eb\" tg-width=\"441\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Merchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.</p><p><blockquote>据知情人士透露，商家不承担这些计划的信用风险，但他们产生的费用可能高于信用卡购买，通常在购买价格的 3% 至 5% 之间。</blockquote></p><p> Buy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator&nbsp;Fair Isaac&nbsp;Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.</p><p><blockquote>先买后付的公司表示，他们可以批准比银行更多的客户，包括借款记录很少或没有借款记录的人。据 FICO 评分创建者 Fair Isaac Corp. 称，美国约有 5300 万成年人缺乏传统信用评分。他们表示，分期付款计划更安全，因为它们通常小于信用卡消费限额，并且是按每笔交易批准的。</blockquote></p><p> Affirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.</p><p><blockquote>Affirm 表示，截至 6 月 30 日的季度，其净冲销率为 1%，低于去年同期的 2%。Afterpay 表示，在截至 6 月 30 日的财年中，该公司注销了支付总额的 0.6%，高于上一年的 0.4%。</blockquote></p><p> Working with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.</p><p><blockquote>通过与零售商网络合作，先买后付的公司可以创建独立的支付生态系统。他们将支付行为纳入未来的承保决策。延迟付款或根本不付款的客户可能会失去其他参与零售商的分期付款选项。</blockquote></p><p> “Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”</p><p><blockquote>“Affirm 首席执行官马克斯-列夫钦（Max Levchin）说：”大多数商家都希望合作伙伴具有真正的优势和真正的承保能力。“这些不是更深层次的认可，但却是不同的认可”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f0a5ab7e1c7d6de154b68c230f13b49\" tg-width=\"1050\" tg-height=\"700\" width=\"100%\" height=\"auto\"><span>Affirm facilitates new loans among other payment plans.</span></p><p><blockquote><p class=\"t-img-caption\"><span>Affirm 在其他付款计划中促进新贷款。</span></p></blockquote></p><p></p><p> Amazon&nbsp;and&nbsp;Walmart&nbsp;Inc.&nbsp;are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.</p><p><blockquote>亚马逊和沃尔玛公司都在与Affirm合作。两家公司都表示，他们希望他们的金融合作伙伴向更多客户提供信贷。</blockquote></p><p> Amazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase &amp; Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.</p><p><blockquote>亚马逊正在审查提案，因为它正在权衡是否更换其长期发卡机构摩根大通公司。亚马逊正在寻求 “有竞争力的承保承诺，以拓宽收购渠道”，该零售商在接受《华尔街日报》审查的征求建议书中表示。</blockquote></p><p> A desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with&nbsp;Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.</p><p><blockquote>提高贷款审批的愿望是沃尔玛在 2018 年决定终止与 Synchrony Financial 长达数十年的信用卡合作伙伴关系的原因之一。（第一资本金融公司现在发行沃尔玛品牌的信用卡。）该零售商第二年向大多数客户提供了 Affirm 贷款。</blockquote></p><p> “Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.</p><p><blockquote>“沃尔玛金融服务副总裁朱莉娅-昂格尔（Julia Unger）说：”我们的目标是实现所有人的金融普惠。</blockquote></p><p> Some banks now offer installment options on their credit cards.Citigroup&nbsp;Inc.&nbsp;saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.</p><p><blockquote>花旗集团美国消费者银行负责人冈萨洛-卢切蒂（Gonzalo Luchetti）表示，花旗集团（Citigroup Inc.）7 月份转换为分期贷款的信用卡消费金额比去年同期增长了七倍。</blockquote></p><p> Synchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.</p><p><blockquote>美国最大的商店信用卡发行商 Synchrony 将于 10 月份推出先买后付计划。Capital One 首席执行官理查德·费尔班克 (Richard Fairbank) 在周一的一次会议上表示，Capital One 将在今年晚些时候测试自己的产品。</blockquote></p><p> Wells Fargo &amp; Co. and&nbsp;Bank of America&nbsp;Corp.&nbsp;are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa&nbsp;Inc.&nbsp;said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.</p><p><blockquote>据知情人士透露，富国银行 (Wells Fargo &amp; Co.) 和美国银行 (Bank of America Corp.) 正在探索在信用卡上添加分期付款计划。 Visa Inc. 表示，它一直在测试购物者在结账时输入卡号时检查自己是否符合分期付款计划的方法。</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>Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做这件事。沃尔玛也是。为什么零售业喜欢 “先买后付”</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\">\nAmazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做这件事。沃尔玛也是。为什么零售业喜欢 “先买后付”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-09-16 22:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards</p><p><blockquote>大大小小的零售商都在使用分期付款计划，从无法获得信用卡的购物者那里榨取更多销售额</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108a4007d95b3e93e4d3fe6d678d8339\" tg-width=\"1290\" tg-height=\"859\" width=\"100%\" height=\"auto\"><span>Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.</span></p><p><blockquote><p class=\"t-img-caption\"><span>梅西百货首席执行官杰夫-根内特（Jeff Gennette）在最近的一次财报看涨期权上说，购物者在使用 Klarna 银行提供的分期付款计划时，在梅西百货的消费会更多。</span></p></blockquote></p><p> Alexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.</p><p><blockquote>2019 年，Alexis Luedtke 在申请信用卡被拒后，获得了她的第一个 “先买后付 ”计划。从那以后，她至少又用了五个钱来买面霜、T恤和生日礼物。</blockquote></p><p> Installment plans are back&nbsp;in style.PayPal Holdings&nbsp;Inc.&nbsp;last week&nbsp;said it was buying Japanese installment payment startup&nbsp;Paidy Inc., following Square Inc.’s&nbsp;$29 billion deal&nbsp;for&nbsp;Afterpay&nbsp;Ltd.Macy’s&nbsp;Inc.&nbsp;and&nbsp;Bed Bath &amp; Beyond&nbsp;Inc.&nbsp;have added the option at checkout over the past year. Even&nbsp;Amazon.com&nbsp;Inc.&nbsp;is doing it.</p><p><blockquote>PayPal Holdings Inc. 继 Square Inc. 以 290 亿美元收购 Afterpay Ltd. 之后，PayPal Holdings Inc. 和 Bed Bath &amp; Beyond Inc.甚至亚马逊公司也在这么做。</blockquote></p><p> One reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.</p><p><blockquote>原因之一： 像 Luedtke 女士这样没有资格使用信用卡的购物者。先买后付的公司表示，他们较少依赖传统信用评分和报告，在某些情况下甚至完全绕过传统信用评分和报告。这样做可以让他们认可更多的消费者。即使手头没有现金，购物者也能购买商品，这意味着零售商的销售额会更高。</blockquote></p><p> Afterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings&nbsp;Inc.&nbsp;last year said purchases made with its payment plans were 85% larger, on average.</p><p><blockquote>Affirm Holdings Inc. Affirm Holdings Inc. Affirm Holdings Inc.</blockquote></p><p> Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.</p><p><blockquote>梅西百货首席执行官杰夫-根内特（Jeff Gennette）在最近的一次财报看涨期权上说，购物者在使用 Klarna Bank AB 提供的分期付款计划时，在梅西百货的消费会更多。他说，Klarna 还在帮助零售商吸引年轻顾客。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40620bab35c446816da175fb2334c05e\" tg-width=\"435\" tg-height=\"562\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.</p><p><blockquote>“Klarna 北美负责人 David Sykes 说：”大多数零售商在“先买后付”中看到的价值是客户获取。</blockquote></p><p> Ms. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.</p><p><blockquote>26岁的Luedtke女士现在有信用卡，但仍然更喜欢分期付款计划。就在上个月，她用它们从Shein购买了价值约40美元的Peter Thomas Roth护肤品和65美元的衣服。</blockquote></p><p> “It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”</p><p><blockquote>“她说：”这肯定会影响我多买多少或多花多少钱。“与现在的 200 美元相比，在这么多周内支付 200 美元要容易得多”。</blockquote></p><p> Buy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.</p><p><blockquote>先买后付是对旧观念的新改动。几十年来，大型零售商一直为洗衣机等大件商品提供分期付款计划。如今，这些计划有多种口味。Afterpay 提供购物者通常附在借记卡上的付款计划。其他公司，如 Affirm，也为新贷款提供便利。</blockquote></p><p> Interest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.</p><p><blockquote>利率和其他条款因付款计划提供商而异。Affirm 的利率范围为 0% 至 30%，上一财年约有 43% 的交易根本不收取利息。公司不收取滞纳金。Afterpay 不收取利息，但收取滞纳金。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/223a1da79b30869fc443b06f41a959eb\" tg-width=\"441\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Merchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.</p><p><blockquote>据知情人士透露，商家不承担这些计划的信用风险，但他们产生的费用可能高于信用卡购买，通常在购买价格的 3% 至 5% 之间。</blockquote></p><p> Buy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator&nbsp;Fair Isaac&nbsp;Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.</p><p><blockquote>先买后付的公司表示，他们可以批准比银行更多的客户，包括借款记录很少或没有借款记录的人。据 FICO 评分创建者 Fair Isaac Corp. 称，美国约有 5300 万成年人缺乏传统信用评分。他们表示，分期付款计划更安全，因为它们通常小于信用卡消费限额，并且是按每笔交易批准的。</blockquote></p><p> Affirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.</p><p><blockquote>Affirm 表示，截至 6 月 30 日的季度，其净冲销率为 1%，低于去年同期的 2%。Afterpay 表示，在截至 6 月 30 日的财年中，该公司注销了支付总额的 0.6%，高于上一年的 0.4%。</blockquote></p><p> Working with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.</p><p><blockquote>通过与零售商网络合作，先买后付的公司可以创建独立的支付生态系统。他们将支付行为纳入未来的承保决策。延迟付款或根本不付款的客户可能会失去其他参与零售商的分期付款选项。</blockquote></p><p> “Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”</p><p><blockquote>“Affirm 首席执行官马克斯-列夫钦（Max Levchin）说：”大多数商家都希望合作伙伴具有真正的优势和真正的承保能力。“这些不是更深层次的认可，但却是不同的认可”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f0a5ab7e1c7d6de154b68c230f13b49\" tg-width=\"1050\" tg-height=\"700\" width=\"100%\" height=\"auto\"><span>Affirm facilitates new loans among other payment plans.</span></p><p><blockquote><p class=\"t-img-caption\"><span>Affirm 在其他付款计划中促进新贷款。</span></p></blockquote></p><p></p><p> Amazon&nbsp;and&nbsp;Walmart&nbsp;Inc.&nbsp;are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.</p><p><blockquote>亚马逊和沃尔玛公司都在与Affirm合作。两家公司都表示，他们希望他们的金融合作伙伴向更多客户提供信贷。</blockquote></p><p> Amazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase &amp; Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.</p><p><blockquote>亚马逊正在审查提案，因为它正在权衡是否更换其长期发卡机构摩根大通公司。亚马逊正在寻求 “有竞争力的承保承诺，以拓宽收购渠道”，该零售商在接受《华尔街日报》审查的征求建议书中表示。</blockquote></p><p> A desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with&nbsp;Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.</p><p><blockquote>提高贷款审批的愿望是沃尔玛在 2018 年决定终止与 Synchrony Financial 长达数十年的信用卡合作伙伴关系的原因之一。（第一资本金融公司现在发行沃尔玛品牌的信用卡。）该零售商第二年向大多数客户提供了 Affirm 贷款。</blockquote></p><p> “Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.</p><p><blockquote>“沃尔玛金融服务副总裁朱莉娅-昂格尔（Julia Unger）说：”我们的目标是实现所有人的金融普惠。</blockquote></p><p> Some banks now offer installment options on their credit cards.Citigroup&nbsp;Inc.&nbsp;saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.</p><p><blockquote>花旗集团美国消费者银行负责人冈萨洛-卢切蒂（Gonzalo Luchetti）表示，花旗集团（Citigroup Inc.）7 月份转换为分期贷款的信用卡消费金额比去年同期增长了七倍。</blockquote></p><p> Synchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.</p><p><blockquote>美国最大的商店信用卡发行商 Synchrony 将于 10 月份推出先买后付计划。Capital One 首席执行官理查德·费尔班克 (Richard Fairbank) 在周一的一次会议上表示，Capital One 将在今年晚些时候测试自己的产品。</blockquote></p><p> Wells Fargo &amp; Co. and&nbsp;Bank of America&nbsp;Corp.&nbsp;are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa&nbsp;Inc.&nbsp;said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.</p><p><blockquote>据知情人士透露，富国银行 (Wells Fargo &amp; Co.) 和美国银行 (Bank of America Corp.) 正在探索在信用卡上添加分期付款计划。 Visa Inc. 表示，它一直在测试购物者在结账时输入卡号时检查自己是否符合分期付款计划的方法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amazon-is-doing-it-so-is-walmart-why-retail-loves-buy-now-pay-later-11631784601?mod=hp_lead_pos10\">The Wall Street Journal</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":{"WMT":"沃尔玛","V":"Visa","PYPL":"PayPal","AFRM":"Affirm Holdings, Inc.","AMZN":"亚马逊","M":"梅西百货"},"source_url":"https://www.wsj.com/articles/amazon-is-doing-it-so-is-walmart-why-retail-loves-buy-now-pay-later-11631784601?mod=hp_lead_pos10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168707929","content_text":"Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards\nShoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.\nAlexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.\nInstallment plans are back in style.PayPal Holdings Inc. last week said it was buying Japanese installment payment startup Paidy Inc., following Square Inc.’s $29 billion deal for Afterpay Ltd.Macy’s Inc. and Bed Bath & Beyond Inc. have added the option at checkout over the past year. Even Amazon.com Inc. is doing it.\nOne reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.\nAfterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings Inc. last year said purchases made with its payment plans were 85% larger, on average.\nShoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.\n\n“The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.\nMs. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.\n“It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”\nBuy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.\nInterest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.\n\nMerchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.\nBuy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator Fair Isaac Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.\nAffirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.\nWorking with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.\n“Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”\nAffirm facilitates new loans among other payment plans.\nAmazon and Walmart Inc. are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.\nAmazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase & Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.\nA desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.\n“Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.\nSome banks now offer installment options on their credit cards.Citigroup Inc. saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.\nSynchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.\nWells Fargo & Co. and Bank of America Corp. are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa Inc. said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.","news_type":1,"symbols_score_info":{"SQ":0.9,"WMT":0.9,"V":0.9,"PYPL":0.9,"AMZN":0.9,"AFRM":0.9,"M":0.9}},"isVote":1,"tweetType":1,"viewCount":1075,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885127171,"gmtCreate":1631767307893,"gmtModify":1631883587760,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>BOUGHT THE DIP","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>BOUGHT THE DIP","text":"$Alibaba(BABA)$BOUGHT THE DIP","images":[{"img":"https://static.tigerbbs.com/60a6964016360c019c62dbf96fe085b7","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885127171","isVote":1,"tweetType":1,"viewCount":787,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":816421132,"gmtCreate":1630515666026,"gmtModify":1631892127537,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>should I average up?","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>should I average up?","text":"$Alibaba(BABA)$should I average up?","images":[{"img":"https://static.tigerbbs.com/49e177cf593d00cdec654562e563bef8","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/816421132","isVote":1,"tweetType":1,"viewCount":861,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805892675,"gmtCreate":1627868651997,"gmtModify":1633755788399,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805892675","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","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":1627857540,"share":"https://www.laohunote.com/m/news/1170689665?lang=zh_CN&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴、Uber、DraftKings、通用汽车、Roku、EA、维亚康姆哥伦比亚广播公司和其他投资者本周值得关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩游行本周继续。除了数百家小盘股公司外，还有不少于 143 家标普500公司正在提交报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software 和 Simon Property Group 将于周一启动。随后，Lyft、阿里巴巴-SW集团控股公司、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、优步科技、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银均有报道。Beyond Meat、Yelp、Wayfair、Moderna 和 ViacomCBS 将于周四关闭，DraftKings、Canopy Growth 和 Tripadvisor 将于周五关闭本周。中国教育公司新东方教育科技集团公司和好未来教育集团取消了原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局（Bureau of Labor Statistics）预计，继 6 月份的 85 万人之后，7 月份非农就业人数将增加 62.5 万人。失业率略低于6%。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括周一公布的美国供应管理协会（Institute for Supply Management）7 月份制造业采购经理人指数，随后是周三公布的服务业同等指数。这两项经济活动指标预计都将达到 61 左右，这将意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一 8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett &amp; Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、Heineken、Trex、Ferrari、Ultra Clean Holdings 和 Simon Property Group 预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股 104 美元，周五收盘价为 12.95 美元。该公司于周五晚上完成了 1 比 8 的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布 7 月份制造业采购经理人指数。普遍估计读数为 60.8，高于 6 月份的 60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份的建筑支出。继 5 月份下降 0.3% 后，预计环比增长 0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二 8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>伊顿、英国石油公司、安德玛、Lyft、高乐氏、安进、Akamai Technologies、康明斯、礼来公司、阿里巴巴-SW集团控股公司、Nikola、EnPro Industries、华纳音乐集团、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、邓白氏控股公司、康菲石油公司和 Jacobs Engineering Group 在评级举办会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告六月份的工厂订单。经济学家预测，本月订单增长1.0%，而5月份增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三 8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>索尼集团、CVS Health、卡夫亨氏、软银、通用汽车、Progressive、Etsy、艺电、西部数据、Uber Technologies、Roku、米高梅国际酒店集团、福克斯和 Re/Max Holdings 预计将主办财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告 7 月份轻型汽车销量。预计看涨期权经季节性调整后的年增长率为 1530 万辆，而 6 月份为 1540 万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业采购经理人指数。一致估计读数为 60.8，而 6 月份的读数为 60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>其7月份的全国就业报告。普遍估计，继 6 月份增加 692,000 人之后，非农私营部门就业人数将增加 635,000 人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四 8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman &amp; Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五 8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>BLS 发布就业报告</b>七月。经济学家预测，继6月份增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、Tripadvisor、Spectrum Brands Holdings、E.W。Scripps、Cinemark Holdings 和 Manitowoc 主办评级会议讨论财务业绩。</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>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴、Uber、DraftKings、通用汽车、Roku、EA、维亚康姆哥伦比亚广播公司和其他投资者本周值得关注的股票</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\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴、Uber、DraftKings、通用汽车、Roku、EA、维亚康姆哥伦比亚广播公司和其他投资者本周值得关注的股票</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\">2021-08-02 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩游行本周继续。除了数百家小盘股公司外，还有不少于 143 家标普500公司正在提交报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software 和 Simon Property Group 将于周一启动。随后，Lyft、阿里巴巴-SW集团控股公司、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、优步科技、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银均有报道。Beyond Meat、Yelp、Wayfair、Moderna 和 ViacomCBS 将于周四关闭，DraftKings、Canopy Growth 和 Tripadvisor 将于周五关闭本周。中国教育公司新东方教育科技集团公司和好未来教育集团取消了原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局（Bureau of Labor Statistics）预计，继 6 月份的 85 万人之后，7 月份非农就业人数将增加 62.5 万人。失业率略低于6%。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括周一公布的美国供应管理协会（Institute for Supply Management）7 月份制造业采购经理人指数，随后是周三公布的服务业同等指数。这两项经济活动指标预计都将达到 61 左右，这将意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一 8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett &amp; Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、Heineken、Trex、Ferrari、Ultra Clean Holdings 和 Simon Property Group 预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股 104 美元，周五收盘价为 12.95 美元。该公司于周五晚上完成了 1 比 8 的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布 7 月份制造业采购经理人指数。普遍估计读数为 60.8，高于 6 月份的 60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份的建筑支出。继 5 月份下降 0.3% 后，预计环比增长 0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二 8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>伊顿、英国石油公司、安德玛、Lyft、高乐氏、安进、Akamai Technologies、康明斯、礼来公司、阿里巴巴-SW集团控股公司、Nikola、EnPro Industries、华纳音乐集团、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、邓白氏控股公司、康菲石油公司和 Jacobs Engineering Group 在评级举办会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告六月份的工厂订单。经济学家预测，本月订单增长1.0%，而5月份增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三 8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>索尼集团、CVS Health、卡夫亨氏、软银、通用汽车、Progressive、Etsy、艺电、西部数据、Uber Technologies、Roku、米高梅国际酒店集团、福克斯和 Re/Max Holdings 预计将主办财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告 7 月份轻型汽车销量。预计看涨期权经季节性调整后的年增长率为 1530 万辆，而 6 月份为 1540 万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业采购经理人指数。一致估计读数为 60.8，而 6 月份的读数为 60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>其7月份的全国就业报告。普遍估计，继 6 月份增加 692,000 人之后，非农私营部门就业人数将增加 635,000 人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四 8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman &amp; Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五 8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>BLS 发布就业报告</b>七月。经济学家预测，继6月份增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、Tripadvisor、Spectrum Brands Holdings、E.W。Scripps、Cinemark Holdings 和 Manitowoc 主办评级会议讨论财务业绩。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","GM":"通用汽车","UBER":"优步",".DJI":"道琼斯","BABA":"阿里巴巴",".IXIC":"NASDAQ Composite","GE":"GE航空航天","DKNG":"DraftKings Inc.","EA":"艺电","ROKU":"Roku Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1,"symbols_score_info":{"EA":0.9,".IXIC":0.9,"VIAC":0.9,".SPX":0.9,"DKNG":0.9,"GE":0.9,"GM":0.9,"ROKU":0.9,"UBER":0.9,"BABA":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802311692,"gmtCreate":1627717585916,"gmtModify":1633756834130,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802311692","repostId":"1135561812","repostType":4,"repost":{"id":"1135561812","kind":"news","pubTimestamp":1627637430,"share":"https://www.laohunote.com/m/news/1135561812?lang=zh_CN&edition=full","pubTime":"2021-07-30 17:30","market":"us","language":"en","title":"AMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135561812","media":"seekingalpha","summary":"AMD's margin gains are driven by growing strength in end markets.AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors  and Radeon graphic cards. The uptick in g","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 的利润率增长是由终端市场不断增长的实力推动的。</li><li>AMD 将 2021 财年的收入指引上调了 $1.0B，毛利率接近 50%。</li><li>即使增长放缓，这家半导体公司明年也可能成为价值 60 亿美元的自由现金流业务。</li><li>AMD 的美元销售额增长比 Nvidia 便宜，而且 AMD 甚至可能增长得更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock 来自盖蒂图片社</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD (AMD) 昨天引起了轰动，这家半导体公司公布的增长和利润率甚至好于预期。AMD 的收入加速增长和毛利率的强劲扩张为该股上涨提供了有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么 AMD 值 120 美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在深入探讨 AMD 的最新业绩之前，让我们快速回顾一下该公司上一季度的业绩指引。AMD 预计 21 年第二季度的收入至少为 35 亿美元，“高情况 ”指导意味着收入环比增长 7%，毛利率为 47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计 AMD 的收入将达到指导的上限（37 亿美元），最低自由现金流为 8.95 亿美元（环比增长 8%），自由现金流利润率为 24%。鉴于高价 Ryzen 台式机和笔记本电脑处理器和 GPU 的销售加速，以及终端市场广泛实力推动的平均售价/平均售价上涨，我预计 AMD 将超出自己的利润率指导，在 21 年第二季度的毛利率为 48%。我还预测，由于 CPU 和 GPU 平均售价的强劲，AMD 的毛利率指引将会更新。我在《AMD: 年自由现金流迈向 50 亿美元》一书中详细阐述了我对 AMD 21 年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>从 AMD 的实际业绩来看，这家半导体公司再次证明了它正在全力以赴。AMD 21 年第二季度收入为 38.5 亿美元，比高端指引高出 1.5 亿美元，环比增长 12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增长以及平均售价的增强，图形/计算收入环比增长 7%，达到 22.5 亿美元。Enterprise 已成为 AMD 近几个季度销售增长的驱动力，21 年第二季度的收入为 16 亿美元，环比增长 19%。继 AMD 在 21 年第一季度实现 5% 的环比收入增长后，21 年第二季度企业收入继续加速增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>不过，AMD 21 年第二季度财报中最有趣的发现是毛利率的趋势。AMD 的毛利率跃升 4 个百分点，达到 48%，比指导高出 1 个百分点，原因是价格较高的 Ryzen 处理器（移动和台式机）和 Radeon 显卡的更好组合。21 年第二季度毛利率的上升标志着 AMD 连续第三个季度利润率扩张，我认为 AMD 还没有看到这一趋势的终结。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD 报告的经营活动现金流为 9.52 亿美元，自由现金流为 8.88 亿美元，比我的预期少了 700 万美元，但仍几乎是一年前的六倍。随着 AMD 在计算/图形和企业终端市场继续看到强劲的收入增长，我相信到明年年底，AMD 的自由现金流利润率可能会增长到 30%。AMD 将 2021 财年的收入指引（稍后讨论）上调了 $1.0B，这意味着我也在更新今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD 预计今年的收入为 15.6B 美元。假设自由现金流利润率稳定在 23-24%，AMD 预计自由现金流为 $3.6B 至 $3.7B。明年的收入预测尚未更新，但 AMD 在 2022 财年的收入至少应为 200 亿美元（假设同比增长 25%），这意味着明年的自由现金流将达到 46 亿至 48 亿美元.这些预测并没有考虑到 AMD 第三代 EPYC Milan 服务器处理器和价格更高的 GPU 可能会提高 AMD 的自由现金流利润率。明年 30% 的自由现金流利润率意味着自由现金流为 $6.0B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD 的收入指引为 4.1B 美元 +/- 1 亿美元，该公司更新了 2021 财年收入和毛利率指引（如预期）。AMD 目前预计 2021 财年收入增长 60%（之前为 50%），毛利率为 48%（之前为 47%）。假设收入增长 60%，AMD 目前的全年收入为 156 亿美元（之前为 146 亿美元），因此 AMD 的新指导评级为 10 亿美元的额外收入，而到目前为止，这些收入还没有计入 AMD 的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD 较高的毛利率和销售指引为该公司股票的估值创造了强大的动力。由于 AMD 股价最近下跌，以及 10 亿美元收入的增加，AMD 的美元销售额增长在财报公布后变得更加便宜。AMD 的美元销售额增长率低于 Nvidia，而且 AMD 的增长速度可能会更快： AMD 的收入指导评级为同比增长 60%，而对 Nvidia 的预测则意味着 2021 财年的收入 “仅 ”同比增长 49%。AMD 的市值与收益比为 42.5，对于一家收入增长 60%、毛利率接近 50% 的公司来说，这个比率很低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>根据 2022 财年每股收益 17.29 美元计算，英伟达的市盈率为 44.5。如果 AMD 的盈利增长（2022 财年每股收益为 2.71 美元）与 Nvidia 的估值相同，AMD 的公允价格将为 120 美元（2.71 美元 x 44.5 盈利乘数系数），表明上涨空间为 17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD 最大的机遇和最大的风险都与毛利率有关。AMD 今年的收入加速和利润率增长强劲，这也是我相信 AMD 可以进行更高估值的主要原因。但毛利率不可能每个季度增长 3-4 个百分点。如果 AMD 的毛利率扩张放缓，或者更糟的是，毛利率回落至 40%，AMD 的股票回报率可能会下降。毛利率趋势的逆转将改变我对 AMD 的看法，并使我 120 美元的股价目标处于危险之中。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU 和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着 AMD 的终端市场疲软。终端市场疲软意味着 AMD 的收入增长将放缓，这可能导致 AMD 利润估值的盈利乘数系数降低。我不认为AMD基于盈利被高估，但市场可能随时不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD 报告第二季度收入增长和毛利率令人印象深刻。AMD 上调的指引和环比收入加速表明 CPU 和 GPU 的终端市场比预期强劲得多。这可能会导致 AMD 的收入再次加速增长，并在平均售价上升的支撑下，继续扩大到 50%。AMD 的风险状况仍然严重偏向上行。</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>AMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</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\">\nAMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-30 17:30</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>AMD's margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 的利润率增长是由终端市场不断增长的实力推动的。</li><li>AMD 将 2021 财年的收入指引上调了 $1.0B，毛利率接近 50%。</li><li>即使增长放缓，这家半导体公司明年也可能成为价值 60 亿美元的自由现金流业务。</li><li>AMD 的美元销售额增长比 Nvidia 便宜，而且 AMD 甚至可能增长得更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock 来自盖蒂图片社</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD (AMD) 昨天引起了轰动，这家半导体公司公布的增长和利润率甚至好于预期。AMD 的收入加速增长和毛利率的强劲扩张为该股上涨提供了有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么 AMD 值 120 美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在深入探讨 AMD 的最新业绩之前，让我们快速回顾一下该公司上一季度的业绩指引。AMD 预计 21 年第二季度的收入至少为 35 亿美元，“高情况 ”指导意味着收入环比增长 7%，毛利率为 47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计 AMD 的收入将达到指导的上限（37 亿美元），最低自由现金流为 8.95 亿美元（环比增长 8%），自由现金流利润率为 24%。鉴于高价 Ryzen 台式机和笔记本电脑处理器和 GPU 的销售加速，以及终端市场广泛实力推动的平均售价/平均售价上涨，我预计 AMD 将超出自己的利润率指导，在 21 年第二季度的毛利率为 48%。我还预测，由于 CPU 和 GPU 平均售价的强劲，AMD 的毛利率指引将会更新。我在《AMD: 年自由现金流迈向 50 亿美元》一书中详细阐述了我对 AMD 21 年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>从 AMD 的实际业绩来看，这家半导体公司再次证明了它正在全力以赴。AMD 21 年第二季度收入为 38.5 亿美元，比高端指引高出 1.5 亿美元，环比增长 12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增长以及平均售价的增强，图形/计算收入环比增长 7%，达到 22.5 亿美元。Enterprise 已成为 AMD 近几个季度销售增长的驱动力，21 年第二季度的收入为 16 亿美元，环比增长 19%。继 AMD 在 21 年第一季度实现 5% 的环比收入增长后，21 年第二季度企业收入继续加速增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>不过，AMD 21 年第二季度财报中最有趣的发现是毛利率的趋势。AMD 的毛利率跃升 4 个百分点，达到 48%，比指导高出 1 个百分点，原因是价格较高的 Ryzen 处理器（移动和台式机）和 Radeon 显卡的更好组合。21 年第二季度毛利率的上升标志着 AMD 连续第三个季度利润率扩张，我认为 AMD 还没有看到这一趋势的终结。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD 报告的经营活动现金流为 9.52 亿美元，自由现金流为 8.88 亿美元，比我的预期少了 700 万美元，但仍几乎是一年前的六倍。随着 AMD 在计算/图形和企业终端市场继续看到强劲的收入增长，我相信到明年年底，AMD 的自由现金流利润率可能会增长到 30%。AMD 将 2021 财年的收入指引（稍后讨论）上调了 $1.0B，这意味着我也在更新今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD 预计今年的收入为 15.6B 美元。假设自由现金流利润率稳定在 23-24%，AMD 预计自由现金流为 $3.6B 至 $3.7B。明年的收入预测尚未更新，但 AMD 在 2022 财年的收入至少应为 200 亿美元（假设同比增长 25%），这意味着明年的自由现金流将达到 46 亿至 48 亿美元.这些预测并没有考虑到 AMD 第三代 EPYC Milan 服务器处理器和价格更高的 GPU 可能会提高 AMD 的自由现金流利润率。明年 30% 的自由现金流利润率意味着自由现金流为 $6.0B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD 的收入指引为 4.1B 美元 +/- 1 亿美元，该公司更新了 2021 财年收入和毛利率指引（如预期）。AMD 目前预计 2021 财年收入增长 60%（之前为 50%），毛利率为 48%（之前为 47%）。假设收入增长 60%，AMD 目前的全年收入为 156 亿美元（之前为 146 亿美元），因此 AMD 的新指导评级为 10 亿美元的额外收入，而到目前为止，这些收入还没有计入 AMD 的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD 较高的毛利率和销售指引为该公司股票的估值创造了强大的动力。由于 AMD 股价最近下跌，以及 10 亿美元收入的增加，AMD 的美元销售额增长在财报公布后变得更加便宜。AMD 的美元销售额增长率低于 Nvidia，而且 AMD 的增长速度可能会更快： AMD 的收入指导评级为同比增长 60%，而对 Nvidia 的预测则意味着 2021 财年的收入 “仅 ”同比增长 49%。AMD 的市值与收益比为 42.5，对于一家收入增长 60%、毛利率接近 50% 的公司来说，这个比率很低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>根据 2022 财年每股收益 17.29 美元计算，英伟达的市盈率为 44.5。如果 AMD 的盈利增长（2022 财年每股收益为 2.71 美元）与 Nvidia 的估值相同，AMD 的公允价格将为 120 美元（2.71 美元 x 44.5 盈利乘数系数），表明上涨空间为 17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD 最大的机遇和最大的风险都与毛利率有关。AMD 今年的收入加速和利润率增长强劲，这也是我相信 AMD 可以进行更高估值的主要原因。但毛利率不可能每个季度增长 3-4 个百分点。如果 AMD 的毛利率扩张放缓，或者更糟的是，毛利率回落至 40%，AMD 的股票回报率可能会下降。毛利率趋势的逆转将改变我对 AMD 的看法，并使我 120 美元的股价目标处于危险之中。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU 和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着 AMD 的终端市场疲软。终端市场疲软意味着 AMD 的收入增长将放缓，这可能导致 AMD 利润估值的盈利乘数系数降低。我不认为AMD基于盈利被高估，但市场可能随时不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD 报告第二季度收入增长和毛利率令人印象深刻。AMD 上调的指引和环比收入加速表明 CPU 和 GPU 的终端市场比预期强劲得多。这可能会导致 AMD 的收入再次加速增长，并在平均售价上升的支撑下，继续扩大到 50%。AMD 的风险状况仍然严重偏向上行。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued\">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":{"AMD":"美国超微公司"},"source_url":"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135561812","content_text":"Summary\n\nAMD's margin gains are driven by growing strength in end markets.\nAMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.\nThe semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.\nAMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.\n\nJay_Zynism/iStock via Getty Images\nAMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.\nWhy AMD is worth $120\nBefore I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.\nI expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.\nTurning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.\n(Source:AMD)\nThe most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.\n(Source:AMD)\nTurning to cash flow.\nAMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.\nAMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.\n(Source: Author)\n\n\n\n\n\nAMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.\n(Source:AMD)\nAMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.\n(Source: Author)\n\n\n\n\n\nNvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.\nChallenges to my price target\nThe biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.\nSoftening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.\nFinal thoughts\nAMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":864128354,"gmtCreate":1633076225719,"gmtModify":1633076236064,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","text":"$Palantir Technologies Inc.(PLTR)$START AGAIN","images":[{"img":"https://static.tigerbbs.com/d966669d5ec2e8b6575bbcd085df41e5","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/864128354","isVote":1,"tweetType":1,"viewCount":1482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":140328262,"gmtCreate":1625631346056,"gmtModify":1633938876934,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/140328262","repostId":"1163143630","repostType":4,"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128345842,"gmtCreate":1624503358086,"gmtModify":1631888290346,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a>HIGHER","listText":"<a href=\"https://laohu8.com/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a>HIGHER","text":"$Spotify Technology S.A.(SPOT)$HIGHER","images":[{"img":"https://static.tigerbbs.com/029bc32d782726d1ac58bfc25a0d104b","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/128345842","isVote":1,"tweetType":1,"viewCount":1016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":860020860,"gmtCreate":1632109001950,"gmtModify":1632802774611,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860020860","repostId":"1147800593","repostType":4,"repost":{"id":"1147800593","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":1632106802,"share":"https://www.laohunote.com/m/news/1147800593?lang=zh_CN&edition=full","pubTime":"2021-09-20 11:00","market":"hk","language":"en","title":"Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港股市触及11个月低点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147800593","media":"Tiger Newspress","summary":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a doze","content":"<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>亚洲股市下跌，美元周一坚挺，本周央行将召开不少于十几次会议，美联储可能会朝着缩减规模迈出又一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况恶化，而加拿大和德国的选举将在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌超过4%，跌至近11个月来的最低点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际 (MSCI) 日本以外最广泛的亚太股票指数继上周下跌 2.5% 后，又下跌 1.4%，其中澳大利亚下跌 1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货比周五现金收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至 30 年来高点后可能会进行盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌 0.5%，标普500期货下跌 0.3%，在令人失望的美国消费者信心数据后，华尔街上周收盘走软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管人们普遍认为实际宣布将推迟到 11 月或 12 月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋平。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB 经济总监塔帕斯·斯特里克兰 (Tapas Strickland) 警告称：“收益率曲线趋平表明人们担心美联储可能会过度加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，只有 2-3 名 FOMC 成员需要改变他们对 2022 年加息的“点阵图”预测，以使其成为中位数，因为 18 名成员中有 7 名已经暗示明年加息。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定 2024 年的 DOT，这将表明潜在加息周期的陡峭程度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场共识是 2023 年加息两次，2024 年加息四次，长期联邦基金利率为 2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都将召开会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>挪威银行预计将成为G10中第一个加息的银行。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>较高的美国收益率加上普遍的避险情绪，有利于美元，一篮子货币兑美元汇率接近93.303的一个月高点。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元汇率在109.96区间波动，而欧元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，因为这场比赛与看涨期权的选情太接近了。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强令金价承压，金价在上周下跌 1.9% 后收于每盎司 1,749 美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>由于美国墨西哥湾的能源公司在该地区连续发生的飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌 54 美分，至每桶 74.80 美元，美国原油下跌 57 美分，至每桶 71.40 美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nAsia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港股市触及11个月低点</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\">2021-09-20 11:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>亚洲股市下跌，美元周一坚挺，本周央行将召开不少于十几次会议，美联储可能会朝着缩减规模迈出又一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况恶化，而加拿大和德国的选举将在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌超过4%，跌至近11个月来的最低点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际 (MSCI) 日本以外最广泛的亚太股票指数继上周下跌 2.5% 后，又下跌 1.4%，其中澳大利亚下跌 1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货比周五现金收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至 30 年来高点后可能会进行盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌 0.5%，标普500期货下跌 0.3%，在令人失望的美国消费者信心数据后，华尔街上周收盘走软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管人们普遍认为实际宣布将推迟到 11 月或 12 月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋平。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB 经济总监塔帕斯·斯特里克兰 (Tapas Strickland) 警告称：“收益率曲线趋平表明人们担心美联储可能会过度加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，只有 2-3 名 FOMC 成员需要改变他们对 2022 年加息的“点阵图”预测，以使其成为中位数，因为 18 名成员中有 7 名已经暗示明年加息。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定 2024 年的 DOT，这将表明潜在加息周期的陡峭程度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场共识是 2023 年加息两次，2024 年加息四次，长期联邦基金利率为 2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都将召开会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>挪威银行预计将成为G10中第一个加息的银行。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>较高的美国收益率加上普遍的避险情绪，有利于美元，一篮子货币兑美元汇率接近93.303的一个月高点。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元汇率在109.96区间波动，而欧元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，因为这场比赛与看涨期权的选情太接近了。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强令金价承压，金价在上周下跌 1.9% 后收于每盎司 1,749 美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>由于美国墨西哥湾的能源公司在该地区连续发生的飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌 54 美分，至每桶 74.80 美元，美国原油下跌 57 美分，至每桶 71.40 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCCI":"红筹指数","HSTECH":"恒生科技指数","HSI":"恒生指数","HSCEI":"国企指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147800593","content_text":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.\nHolidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.\nThe stocks in Hong Kong skidded more than 4% to their lowest in almost 11 months.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan slid another 1.4%, after shedding 2.5% last week, with Australia down 1.5%.\nJapan's Nikkei was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.\nNasdaq futures eased 0.5% and S&P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.\nThe Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.\nYields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.\n\"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.\nHe noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.\n\"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"\nThe market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.\nCentral banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.\nThe Norges Bank is expected to be the first in the G10 to raise interest rates.\nHigher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.\nIt was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.\nCanada goes to the polls on Monday with the race too close to call.\nThe firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.\nOil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.\nBrent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to 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href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>TOUCHED 328 TONIGHT","listText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>TOUCHED 328 TONIGHT","text":"$SEA LTD(SE)$TOUCHED 328 TONIGHT","images":[{"img":"https://static.tigerbbs.com/afcbe08a9d79b6c07ff21e1d54e43079","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838814657","isVote":1,"tweetType":1,"viewCount":911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830063982,"gmtCreate":1628993908646,"gmtModify":1631883653360,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/SE\">$SEA 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