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Jkrapido

Jkrapido

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2021-11-22

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2021-11-17

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2021-08-08

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2021-08-05

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Airline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote>

2021-07-31

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2021-07-30

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7 Stocks To Watch For July 30, 2021<blockquote>2021 年 7 月 30 日值得关注的 7 只股票</blockquote>

2021-07-29

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2021-07-28

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2021-07-22

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2021-07-20

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2021-07-15

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2021-07-13

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Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>

2021-07-12

Good stocks

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2021-07-11

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The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>

2021-07-09

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2021-07-08

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2021-07-07

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2021-07-04

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Suze Orman worries about a market crash — here's what you should do<blockquote>苏兹·奥曼 (Suze Orman) 担心市场崩盘——以下是您应该做的</blockquote>

2021-07-02

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5 Warren Buffett Favorites To Keep An Eye On<blockquote>值得关注的 5 个沃伦·巴菲特最爱</blockquote>

2021-06-30

It’s coming home- like and comment

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like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/899852282","repostId":"1117772028","repostType":4,"repost":{"id":"1117772028","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":1628174192,"share":"https://www.laohunote.com/m/news/1117772028?lang=zh_CN&edition=full","pubTime":"2021-08-05 22:36","market":"us","language":"en","title":"Airline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117772028","media":"Tiger Newspress","summary":"(Aug&nbsp;5)&nbsp;Airline shares, Carnival stocks&nbsp;rally&nbsp;in&nbsp;morning&nbsp;trading.","content":"<p>(Aug&nbsp;5)&nbsp;Airline shares, 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#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\">\nAirline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</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\">2021-08-05 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug&nbsp;5)&nbsp;Airline shares, Carnival stocks&nbsp;rally&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（8月5日）航空股、嘉年华股早盘上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/42a38b66aa352091811cb924ece1b676\" tg-width=\"374\" tg-height=\"366\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117772028","content_text":"(Aug 5) Airline shares, Carnival stocks rally in morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802374817,"gmtCreate":1627725949339,"gmtModify":1631890951156,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802374817","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":2853,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806118910,"gmtCreate":1627640357530,"gmtModify":1631890951158,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806118910","repostId":"2155134341","repostType":4,"repost":{"id":"2155134341","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627635997,"share":"https://www.laohunote.com/m/news/2155134341?lang=zh_CN&edition=full","pubTime":"2021-07-30 17:06","market":"hk","language":"en","title":"7 Stocks To Watch For July 30, 2021<blockquote>2021 年 7 月 30 日值得关注的 7 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2155134341","media":"Benzinga Earnings","summary":"Some of the stocks that may grab investor focus today are:\n\tWall Street expects  Procter &amp; Gamble Co (NYSE: PG) to report quarterly earnings at $1.09 per share on revenue of $18.36 billion before the opening bell. Procter &amp; Gamble shares rose 0.5% to close at $139.48 on Thursday.\n","content":"<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Wall Street expects <b>Procter &amp; Gamble Co</b> (NYSE:PG) to report quarterly earnings at $1.09 per share on revenue of $18.36 billion before the opening bell. Procter &amp; Gamble shares rose 0.5% to close at $139.48 on Thursday.</li>  <li><b>Pinterest Inc</b> (NYSE:PINS) reported upbeat earnings and sales results for its second quarter on Thursday. However, the company’s stock dropped following weaker-than-expected growth in monthly active users and bearish revenue forecast for the third quarter. Pinterest shares dipped 18.2% to $58.95 in premarket trading.</li>  <li>Analysts expect <b>Caterpillar Inc.</b> (NYSE:CAT) to post quarterly earnings at $2.38 per share on revenue of $12.58 billion before the opening bell. Caterpillar shares fell 0.7% to $211.00 in premarket trading.</li>  <li><b>Amazon.com, Inc.</b> (NASDAQ:AMZN) reported better-than-expected earnings for its second quarter, while sales missed expectations. The company also issued weak sales forecast for the current quarter. Amazon shares fell 6.3% to $3,374.00 in the after-hours trading session.</li> </ul> <ul>  <li>Analysts are expecting <b>Exxon Mobil Corporation</b> (NYSE:XOM) to have earned $0.97 per share on revenue of $65.02 billion for the latest quarter. The company will release earnings before the markets open. Exxon Mobil shares rose 0.2% to $59.05 in premarket trading.</li>  <li><b><a href=\"https://laohu8.com/S/TMUSP\">T-Mobile US, Inc.</a> </b> (NASDAQ:TMUS) posted upbeat results for its second quarter and also raised its FY21 core adjusted EBITDA guidance. T-Mobile shares, however, dropped 2.2% to $141.50 in premarket trading.</li>  <li>Analysts expect <b>Chevron Corporation</b> (NYSE:CVX) to report quarterly earnings at $1.50 per share on revenue of $34.32 billion before the opening bell. Chevron shares gained 0.4% to $103.00 in premarket trading.</li> </ul></p><p><blockquote><ul><li>华尔街预期<b>宝洁公司</b>（纽约证券交易所股票代码：PG）将公布季度收益，每股 1.09 美元，开盘前营收为 183.6 亿美元。宝洁公司股价周四上涨0.5%，收于139.48美元。</li><li><b>Pinterest公司</b>（纽约证券交易所股票代码：PINS）周四公布了乐观的第二季度盈利和销售业绩。然而，由于月活跃用户增长弱于预期以及第三季度营收预测悲观，该公司股价下跌。Pinterest股价在盘前交易中下跌 18.2%，至 58.95 美元。</li><li>分析师预计<b>卡特彼勒公司。</b>（纽约证券交易所股票代码：CAT）公布季度收益为每股 2.38 美元，开盘前营收为 125.8 亿美元。卡特彼勒股价在盘前交易中下跌 0.7%，至 211.00 美元。</li><li><b>亚马逊公司。</b>（纳斯达克股票代码：AMZN）公布的第二季度收益好于预期，但销售额低于预期。该公司还发布了本季度疲软的销售预测。亚马逊股价在盘后交易时段下跌 6.3%，至 3,374.00 美元。</li></ul><ul><li>分析师预计<b>埃克森美孚公司</b>（纽约证券交易所股票代码：XOM）最新季度每股收益 0.97 美元，营收为 650.2 亿美元。该公司将在开盘前发布财报。埃克森美孚股价在盘前交易中上涨 0.2%，至 59.05 美元。</li><li><b><a href=\"https://laohu8.com/S/TMUSP\">T-Mobile美国公司。</a></b>（纳斯达克股票代码：TMUS）公布了乐观的第二季度业绩，并上调了 2021 财年核心调整后 EBITDA 指引。然而，T-Mobile 股价在盘前交易中下跌 2.2%，至 141.50 美元。</li><li>分析师预计<b>雪佛龙公司</b>（纽约证券交易所股票代码：CVX）将公布季度收益，每股 1.50 美元，开盘前营收为 343.2 亿美元。雪佛龙股价在盘前交易中上涨 0.4%，至 103.00 美元。</li></ul></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>7 Stocks To Watch For July 30, 2021<blockquote>2021 年 7 月 30 日值得关注的 7 只股票</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\">\n7 Stocks To Watch For July 30, 2021<blockquote>2021 年 7 月 30 日值得关注的 7 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-07-30 17:06</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Wall Street expects <b>Procter &amp; Gamble Co</b> (NYSE:PG) to report quarterly earnings at $1.09 per share on revenue of $18.36 billion before the opening bell. Procter &amp; Gamble shares rose 0.5% to close at $139.48 on Thursday.</li>  <li><b>Pinterest Inc</b> (NYSE:PINS) reported upbeat earnings and sales results for its second quarter on Thursday. However, the company’s stock dropped following weaker-than-expected growth in monthly active users and bearish revenue forecast for the third quarter. Pinterest shares dipped 18.2% to $58.95 in premarket trading.</li>  <li>Analysts expect <b>Caterpillar Inc.</b> (NYSE:CAT) to post quarterly earnings at $2.38 per share on revenue of $12.58 billion before the opening bell. Caterpillar shares fell 0.7% to $211.00 in premarket trading.</li>  <li><b>Amazon.com, Inc.</b> (NASDAQ:AMZN) reported better-than-expected earnings for its second quarter, while sales missed expectations. The company also issued weak sales forecast for the current quarter. Amazon shares fell 6.3% to $3,374.00 in the after-hours trading session.</li> </ul> <ul>  <li>Analysts are expecting <b>Exxon Mobil Corporation</b> (NYSE:XOM) to have earned $0.97 per share on revenue of $65.02 billion for the latest quarter. The company will release earnings before the markets open. Exxon Mobil shares rose 0.2% to $59.05 in premarket trading.</li>  <li><b><a href=\"https://laohu8.com/S/TMUSP\">T-Mobile US, Inc.</a> </b> (NASDAQ:TMUS) posted upbeat results for its second quarter and also raised its FY21 core adjusted EBITDA guidance. T-Mobile shares, however, dropped 2.2% to $141.50 in premarket trading.</li>  <li>Analysts expect <b>Chevron Corporation</b> (NYSE:CVX) to report quarterly earnings at $1.50 per share on revenue of $34.32 billion before the opening bell. Chevron shares gained 0.4% to $103.00 in premarket trading.</li> </ul></p><p><blockquote><ul><li>华尔街预期<b>宝洁公司</b>（纽约证券交易所股票代码：PG）将公布季度收益，每股 1.09 美元，开盘前营收为 183.6 亿美元。宝洁公司股价周四上涨0.5%，收于139.48美元。</li><li><b>Pinterest公司</b>（纽约证券交易所股票代码：PINS）周四公布了乐观的第二季度盈利和销售业绩。然而，由于月活跃用户增长弱于预期以及第三季度营收预测悲观，该公司股价下跌。Pinterest股价在盘前交易中下跌 18.2%，至 58.95 美元。</li><li>分析师预计<b>卡特彼勒公司。</b>（纽约证券交易所股票代码：CAT）公布季度收益为每股 2.38 美元，开盘前营收为 125.8 亿美元。卡特彼勒股价在盘前交易中下跌 0.7%，至 211.00 美元。</li><li><b>亚马逊公司。</b>（纳斯达克股票代码：AMZN）公布的第二季度收益好于预期，但销售额低于预期。该公司还发布了本季度疲软的销售预测。亚马逊股价在盘后交易时段下跌 6.3%，至 3,374.00 美元。</li></ul><ul><li>分析师预计<b>埃克森美孚公司</b>（纽约证券交易所股票代码：XOM）最新季度每股收益 0.97 美元，营收为 650.2 亿美元。该公司将在开盘前发布财报。埃克森美孚股价在盘前交易中上涨 0.2%，至 59.05 美元。</li><li><b><a href=\"https://laohu8.com/S/TMUSP\">T-Mobile美国公司。</a></b>（纳斯达克股票代码：TMUS）公布了乐观的第二季度业绩，并上调了 2021 财年核心调整后 EBITDA 指引。然而，T-Mobile 股价在盘前交易中下跌 2.2%，至 141.50 美元。</li><li>分析师预计<b>雪佛龙公司</b>（纽约证券交易所股票代码：CVX）将公布季度收益，每股 1.50 美元，开盘前营收为 343.2 亿美元。雪佛龙股价在盘前交易中上涨 0.4%，至 103.00 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","XOM":"埃克森美孚","TMUS":"T-Mobile US Inc","CAT":"卡特彼勒","PG":"宝洁","PINS":"Pinterest, Inc.","CVX":"雪佛龙"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155134341","content_text":"Some of the stocks that may grab investor focus today are:\n\nWall Street expects Procter & Gamble Co (NYSE:PG) to report quarterly earnings at $1.09 per share on revenue of $18.36 billion before the opening bell. Procter & Gamble shares rose 0.5% to close at $139.48 on Thursday.\nPinterest Inc (NYSE:PINS) reported upbeat earnings and sales results for its second quarter on Thursday. However, the company’s stock dropped following weaker-than-expected growth in monthly active users and bearish revenue forecast for the third quarter. Pinterest shares dipped 18.2% to $58.95 in premarket trading.\nAnalysts expect Caterpillar Inc. (NYSE:CAT) to post quarterly earnings at $2.38 per share on revenue of $12.58 billion before the opening bell. Caterpillar shares fell 0.7% to $211.00 in premarket trading.\nAmazon.com, Inc. (NASDAQ:AMZN) reported better-than-expected earnings for its second quarter, while sales missed expectations. The company also issued weak sales forecast for the current quarter. Amazon shares fell 6.3% to $3,374.00 in the after-hours trading session.\n\n\nAnalysts are expecting Exxon Mobil Corporation (NYSE:XOM) to have earned $0.97 per share on revenue of $65.02 billion for the latest quarter. The company will release earnings before the markets open. Exxon Mobil shares rose 0.2% to $59.05 in premarket trading.\nT-Mobile US, Inc.  (NASDAQ:TMUS) posted upbeat results for its second quarter and also raised its FY21 core adjusted EBITDA guidance. T-Mobile shares, however, dropped 2.2% to $141.50 in premarket trading.\nAnalysts expect Chevron Corporation (NYSE:CVX) to report quarterly earnings at $1.50 per share on revenue of $34.32 billion before the opening bell. Chevron shares gained 0.4% to $103.00 in premarket trading.","news_type":1,"symbols_score_info":{"PG":0.9,"CVX":0.9,"TMUS":0.9,"PINS":0.9,"AMZN":0.9,"CAT":0.9,"XOM":0.9}},"isVote":1,"tweetType":1,"viewCount":2117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808369445,"gmtCreate":1627557937187,"gmtModify":1631890951158,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls 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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/801186301","repostId":"1179923360","repostType":4,"isVote":1,"tweetType":1,"viewCount":3772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172345569,"gmtCreate":1626940665451,"gmtModify":1631890951165,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Please like&nbsp;","listText":"Please like&nbsp;","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172345569","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":3278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178935781,"gmtCreate":1626780129443,"gmtModify":1631890951169,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/178935781","repostId":"2152698867","repostType":4,"isVote":1,"tweetType":1,"viewCount":2833,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147002379,"gmtCreate":1626317682591,"gmtModify":1631890951170,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147002379","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142684855,"gmtCreate":1626146427777,"gmtModify":1631890951174,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/142684855","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146572035,"gmtCreate":1626094221027,"gmtModify":1631892183230,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Good stocks&nbsp;","listText":"Good stocks&nbsp;","text":"Good stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146572035","repostId":"1103477589","repostType":4,"isVote":1,"tweetType":1,"viewCount":839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148804336,"gmtCreate":1625965025325,"gmtModify":1631892183239,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/148804336","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohunote.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">marketwatch</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://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143898724,"gmtCreate":1625786501968,"gmtModify":1631892183252,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/143898724","repostId":"1195657546","repostType":4,"isVote":1,"tweetType":1,"viewCount":776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143997895,"gmtCreate":1625754744517,"gmtModify":1631892183264,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/143997895","repostId":"1162204971","repostType":4,"isVote":1,"tweetType":1,"viewCount":731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140682734,"gmtCreate":1625654129128,"gmtModify":1631892183275,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/140682734","repostId":"1142292077","repostType":4,"isVote":1,"tweetType":1,"viewCount":918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152779891,"gmtCreate":1625360888613,"gmtModify":1631892183286,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/152779891","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","kind":"news","pubTimestamp":1625276221,"share":"https://www.laohunote.com/m/news/1188153141?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do<blockquote>苏兹·奥曼 (Suze Orman) 担心市场崩盘——以下是您应该做的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让包括苏兹-奥曼（Suze Orman）在内的投资专家感到担忧，她甚至表示自己现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一个著名指标——被称为巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下是对这种担忧从何而来的解释，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏兹·奥曼怎么想？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>媒体打孔/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>苏兹·奥曼几十年来一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“奥曼在 CNBC 的一段视频中说：”我不喜欢我现在在市场上看到的情况。“经济形势很糟糕，但股市一直在上涨”。</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样简单，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激检查仍在进行中，房地产市场去年也打破了自己的记录，奥曼仍然担心冠状病毒会带来什么——尤其是在新变种不断涌现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得自从上次撞车以来，已经太久了，不能再在这个高度停留太久了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“奥尔曼说：”这让我再次想起了 2000 年。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦-巴菲特（Warren Buffett）经常用来评估市场的一个指标，以他的名字命名，这个指标已经出现了足够长的时间，以至于市场观察人士开始怀疑它是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但巴菲特指标（衡量股市总价值与美国经济产出之比的指标）继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士不禁要问，这是否是我们即将迎来一场硬着陆的征兆。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为撞车做好准备Freedomz / Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>奥曼提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1. 低买入</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等备受关注的股票感到非常不安，部分原因是它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“她说：”你们所有人的头都被拧到了后面。“你只想让这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金是在 401(k) 或 IRA 计划中用于退休投资。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年都不打算动用这笔钱，所以最好的长期策略是低价买入。这样，您的美元现在将走得更远，为未来 20、30 或 40 年的增长留下充足的空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2. 按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡特延 / Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然奥曼更喜欢低价买入，但她并不建议您在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的起伏之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济衰退欢呼可能是你获得更多利润丰厚投资的最佳选择——就像一些幸运的投资者在 2007 年和 2008 年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“奥尔曼说：”当市场下跌、下跌、下跌时，你可以免费买到东西。“现在看看 15 年后的他们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议您制定美元成本平均策略，这意味着无论市场波动如何，您都要定期等额投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易在目前可供DIY投资者使用的许多投资应用程序中实现。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至还有一些应用程序会通过将您的借记卡和信用卡购买金额四舍五入到最接近的美元来自动投资您的备用零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3. 通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助抵御市场特定角落的下跌，奥曼建议您分散投资——通过对许多不同类型资产和经济部门的投资来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法可以让你购买一家大牌公司的股份，否则你将买不起这部分股份。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在不受欢迎的股票交易工具的帮助下，任何预算的任何人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“奥曼说：”越早开始，你的钱就越多。“只是不要停下来，当这些市场下跌时，你应该非常高兴，因为你的美元找到了更多的股票”。</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股份越多，20 年、40 年、50 年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹 / Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在 CNBC 视频中表示，无论大崩盘是否迫在眉睫，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>首先，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择罗斯账户，无论是 401(k) 还是 IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>当您从退休账户中提取资金时，这将帮助您避免纳税，因为您对罗斯账户的缴款是在税后进行的。另一方面，传统的 IRA 在您供款时无需缴税，因此您最终会在以后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果你发现你需要更多的指导，与专业的财务顾问合作，可以帮助你指出正确的方向，这样你就可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离航向或过度纠正时，你将牢牢掌握在驾驶座上，计划着你的夕阳西下。</blockquote></p><p></p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do<blockquote>苏兹·奥曼 (Suze Orman) 担心市场崩盘——以下是您应该做的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuze Orman worries about a market crash — here's what you should do<blockquote>苏兹·奥曼 (Suze Orman) 担心市场崩盘——以下是您应该做的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-07-03 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让包括苏兹-奥曼（Suze Orman）在内的投资专家感到担忧，她甚至表示自己现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一个著名指标——被称为巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下是对这种担忧从何而来的解释，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏兹·奥曼怎么想？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>媒体打孔/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>苏兹·奥曼几十年来一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“奥曼在 CNBC 的一段视频中说：”我不喜欢我现在在市场上看到的情况。“经济形势很糟糕，但股市一直在上涨”。</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样简单，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激检查仍在进行中，房地产市场去年也打破了自己的记录，奥曼仍然担心冠状病毒会带来什么——尤其是在新变种不断涌现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得自从上次撞车以来，已经太久了，不能再在这个高度停留太久了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“奥尔曼说：”这让我再次想起了 2000 年。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦-巴菲特（Warren Buffett）经常用来评估市场的一个指标，以他的名字命名，这个指标已经出现了足够长的时间，以至于市场观察人士开始怀疑它是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但巴菲特指标（衡量股市总价值与美国经济产出之比的指标）继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士不禁要问，这是否是我们即将迎来一场硬着陆的征兆。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为撞车做好准备Freedomz / Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>奥曼提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1. 低买入</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等备受关注的股票感到非常不安，部分原因是它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“她说：”你们所有人的头都被拧到了后面。“你只想让这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金是在 401(k) 或 IRA 计划中用于退休投资。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年都不打算动用这笔钱，所以最好的长期策略是低价买入。这样，您的美元现在将走得更远，为未来 20、30 或 40 年的增长留下充足的空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2. 按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡特延 / Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然奥曼更喜欢低价买入，但她并不建议您在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的起伏之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济衰退欢呼可能是你获得更多利润丰厚投资的最佳选择——就像一些幸运的投资者在 2007 年和 2008 年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“奥尔曼说：”当市场下跌、下跌、下跌时，你可以免费买到东西。“现在看看 15 年后的他们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议您制定美元成本平均策略，这意味着无论市场波动如何，您都要定期等额投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易在目前可供DIY投资者使用的许多投资应用程序中实现。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至还有一些应用程序会通过将您的借记卡和信用卡购买金额四舍五入到最接近的美元来自动投资您的备用零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3. 通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助抵御市场特定角落的下跌，奥曼建议您分散投资——通过对许多不同类型资产和经济部门的投资来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法可以让你购买一家大牌公司的股份，否则你将买不起这部分股份。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在不受欢迎的股票交易工具的帮助下，任何预算的任何人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“奥曼说：”越早开始，你的钱就越多。“只是不要停下来，当这些市场下跌时，你应该非常高兴，因为你的美元找到了更多的股票”。</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股份越多，20 年、40 年、50 年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹 / Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在 CNBC 视频中表示，无论大崩盘是否迫在眉睫，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>首先，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择罗斯账户，无论是 401(k) 还是 IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>当您从退休账户中提取资金时，这将帮助您避免纳税，因为您对罗斯账户的缴款是在税后进行的。另一方面，传统的 IRA 在您供款时无需缴税，因此您最终会在以后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果你发现你需要更多的指导，与专业的财务顾问合作，可以帮助你指出正确的方向，这样你就可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离航向或过度纠正时，你将牢牢掌握在驾驶座上，计划着你的夕阳西下。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">MoneyWise</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","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156778375,"gmtCreate":1625238795797,"gmtModify":1631892183302,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/156778375","repostId":"1196057674","repostType":4,"repost":{"id":"1196057674","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1625229715,"share":"https://www.laohunote.com/m/news/1196057674?lang=zh_CN&edition=full","pubTime":"2021-07-02 20:41","market":"us","language":"en","title":"5 Warren Buffett Favorites To Keep An Eye On<blockquote>值得关注的 5 个沃伦·巴菲特最爱</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196057674","media":"Benzinga Earnings","summary":"Legendary investor Warren Buffett has posted an impressive 21% year-to-date return for his flagship Berkshire Hathaway Inc  in the first half of 2021.Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan","content":"<p>Legendary investor&nbsp;<b>Warren Buffett</b>&nbsp;has posted an impressive 21% year-to-date return for his flagship&nbsp;<b>Berkshire Hathaway Inc</b>(NYSE:BRKA) (NYSE:BRKB)&nbsp;in the first half of 2021.</p><p><blockquote>传奇投资人<b>沃伦·巴菲特</b>他的旗舰产品今年迄今为止的回报率高达 21%<b>伯克希尔哈撒韦公司</b>（纽约证券交易所代码：BRKA）（纽约证券交易所代码：BRKB）2021 年上半年。</blockquote></p><p> Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.</p><p><blockquote>以下是巴菲特和伯克希尔哈撒韦公司拥有的五只股票，它们可能会在 2021 年下半年出现强劲上涨。</blockquote></p><p> <b>1. Aon:</b>Earlier this year, Berkshire Hathaway took an&nbsp;initial position&nbsp;in insurance broker&nbsp;<b>Aon plc</b>(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.</p><p><blockquote><b>1. 怡安：</b>今年早些时候，伯克希尔哈撒韦公司首次担任保险经纪人职务<b>怡安有限公司</b>（纽约证券交易所代码：怡安）。该公司股价今年迄今已上涨 15%，可能会有更多上涨空间，也可能是巴菲特加仓的一个头寸。</blockquote></p><p> Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.</p><p><blockquote>怡安报告第一季度收入同比增长10%，其中有机收入增长6%。公司利润率有所提高，每股收益同比增长 22%。怡安宣布了一项针对 COVID-19 疫苗的供应链全球保护计划，这可能是下一份财报的亮点。</blockquote></p><p> <b>2. Apple:</b>There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL) traded flat in the first half of 2021.</p><p><blockquote><b>2. 苹果：</b>2021年上半年，科技股出现了几次反弹。尽管上涨，科技巨头的股价<b>苹果公司</b>（纳斯达克股票代码：AAPL）2021 年上半年交易持平。</blockquote></p><p> Apple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker&nbsp;continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.</p><p><blockquote>苹果占伯克希尔哈撒韦投资组合中最大的股票持有量。这家 iPhone 制造商仍然是一家创新者，下半年不应忽视更多产品发布和公告，这可能会推动该股股价走高。</blockquote></p><p> <b>3. Bank of America:</b>&nbsp;<b>Bank of America Corporation</b>(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in&nbsp;<b>Wells Fargo Co</b>(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.</p><p><blockquote><b>3.美国银行：</b> <b>美国银行公司</b>（纽约证券交易所股票代码：BAC）是巴菲特的大量持股，也是他持有的几只银行股之一。巴菲特大幅降低了该公司的权重<b>富国银行</b>（纽约证券交易所股票代码：WFC），该公司曾持有该股票 10% 的股份，并于 1989 年开始投资。</blockquote></p><p> Bank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.</p><p><blockquote>美国银行可能是巴菲特最喜欢的银行股，该公司公布第一季度创纪录的消费者投资资产和创纪录的客户余额。</blockquote></p><p> Revenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.</p><p><blockquote>第一季度收入为 228 亿美元，同比持平，但多个领域的需求和增长强劲。该公司于 6 月下旬宣布将季度股息从 18 美分提高到 21 美分，并可能在通过新的银行压力测试后继续提高股息。</blockquote></p><p> <b>4. Coca-Cola:</b>One of Buffett's favorites&nbsp;is<b>&nbsp;Coca-Cola Co</b>&nbsp;(NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of&nbsp;<b>Monster Beverage Corporation</b>(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.</p><p><blockquote><b>4. 可口可乐：</b>巴菲特的最爱之一是<b>可口可乐公司</b>（纽约证券交易所代码：KO）。由于许多消费食品和饮料公司都实现了正回报，这家饮料巨头的股价在 2021 年上半年下跌了 1%。该公司可能会进行类似的大型收购<b>怪物饮料公司</b>（纳斯达克股票代码：MNST）或进一步进军酒精饮料。</blockquote></p><p> <b>5. Verizon:</b>Shares of&nbsp;<b>Verizon Communications</b>(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.</p><p><blockquote><b>5. 威瑞森：</b>股份<b>威瑞森通信</b>（纽约证券交易所股票代码：VZ）2021 年上半年下降了约 4%。该公司第一季度总收入为329亿美元，同比增长4%。公司的几个核心业务部门实现了个位数增长。</blockquote></p><p> A shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.</p><p><blockquote>全国范围内向 5G 的转变可以帮助像 Verizon 这样的公司，再加上近 5% 的股息收益率，可能会使这家通信巨头成为 2021 年下半年值得关注的股票。</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>5 Warren Buffett Favorites To Keep An Eye On<blockquote>值得关注的 5 个沃伦·巴菲特最爱</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\">\n5 Warren Buffett Favorites To Keep An Eye On<blockquote>值得关注的 5 个沃伦·巴菲特最爱</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-07-02 20:41</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Legendary investor&nbsp;<b>Warren Buffett</b>&nbsp;has posted an impressive 21% year-to-date return for his flagship&nbsp;<b>Berkshire Hathaway Inc</b>(NYSE:BRKA) (NYSE:BRKB)&nbsp;in the first half of 2021.</p><p><blockquote>传奇投资人<b>沃伦·巴菲特</b>他的旗舰产品今年迄今为止的回报率高达 21%<b>伯克希尔哈撒韦公司</b>（纽约证券交易所代码：BRKA）（纽约证券交易所代码：BRKB）2021 年上半年。</blockquote></p><p> Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.</p><p><blockquote>以下是巴菲特和伯克希尔哈撒韦公司拥有的五只股票，它们可能会在 2021 年下半年出现强劲上涨。</blockquote></p><p> <b>1. Aon:</b>Earlier this year, Berkshire Hathaway took an&nbsp;initial position&nbsp;in insurance broker&nbsp;<b>Aon plc</b>(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.</p><p><blockquote><b>1. 怡安：</b>今年早些时候，伯克希尔哈撒韦公司首次担任保险经纪人职务<b>怡安有限公司</b>（纽约证券交易所代码：怡安）。该公司股价今年迄今已上涨 15%，可能会有更多上涨空间，也可能是巴菲特加仓的一个头寸。</blockquote></p><p> Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.</p><p><blockquote>怡安报告第一季度收入同比增长10%，其中有机收入增长6%。公司利润率有所提高，每股收益同比增长 22%。怡安宣布了一项针对 COVID-19 疫苗的供应链全球保护计划，这可能是下一份财报的亮点。</blockquote></p><p> <b>2. Apple:</b>There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL) traded flat in the first half of 2021.</p><p><blockquote><b>2. 苹果：</b>2021年上半年，科技股出现了几次反弹。尽管上涨，科技巨头的股价<b>苹果公司</b>（纳斯达克股票代码：AAPL）2021 年上半年交易持平。</blockquote></p><p> Apple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker&nbsp;continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.</p><p><blockquote>苹果占伯克希尔哈撒韦投资组合中最大的股票持有量。这家 iPhone 制造商仍然是一家创新者，下半年不应忽视更多产品发布和公告，这可能会推动该股股价走高。</blockquote></p><p> <b>3. Bank of America:</b>&nbsp;<b>Bank of America Corporation</b>(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in&nbsp;<b>Wells Fargo Co</b>(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.</p><p><blockquote><b>3.美国银行：</b> <b>美国银行公司</b>（纽约证券交易所股票代码：BAC）是巴菲特的大量持股，也是他持有的几只银行股之一。巴菲特大幅降低了该公司的权重<b>富国银行</b>（纽约证券交易所股票代码：WFC），该公司曾持有该股票 10% 的股份，并于 1989 年开始投资。</blockquote></p><p> Bank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.</p><p><blockquote>美国银行可能是巴菲特最喜欢的银行股，该公司公布第一季度创纪录的消费者投资资产和创纪录的客户余额。</blockquote></p><p> Revenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.</p><p><blockquote>第一季度收入为 228 亿美元，同比持平，但多个领域的需求和增长强劲。该公司于 6 月下旬宣布将季度股息从 18 美分提高到 21 美分，并可能在通过新的银行压力测试后继续提高股息。</blockquote></p><p> <b>4. Coca-Cola:</b>One of Buffett's favorites&nbsp;is<b>&nbsp;Coca-Cola Co</b>&nbsp;(NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of&nbsp;<b>Monster Beverage Corporation</b>(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.</p><p><blockquote><b>4. 可口可乐：</b>巴菲特的最爱之一是<b>可口可乐公司</b>（纽约证券交易所代码：KO）。由于许多消费食品和饮料公司都实现了正回报，这家饮料巨头的股价在 2021 年上半年下跌了 1%。该公司可能会进行类似的大型收购<b>怪物饮料公司</b>（纳斯达克股票代码：MNST）或进一步进军酒精饮料。</blockquote></p><p> <b>5. Verizon:</b>Shares of&nbsp;<b>Verizon Communications</b>(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.</p><p><blockquote><b>5. 威瑞森：</b>股份<b>威瑞森通信</b>（纽约证券交易所股票代码：VZ）2021 年上半年下降了约 4%。该公司第一季度总收入为329亿美元，同比增长4%。公司的几个核心业务部门实现了个位数增长。</blockquote></p><p> A shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.</p><p><blockquote>全国范围内向 5G 的转变可以帮助像 Verizon 这样的公司，再加上近 5% 的股息收益率，可能会使这家通信巨头成为 2021 年下半年值得关注的股票。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AON":"怡安保险","KO":"可口可乐","AAPL":"苹果","BRK.B":"伯克希尔B","BAC":"美国银行","MNST":"怪物饮料","WFC":"富国银行","BRK.A":"伯克希尔"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196057674","content_text":"Legendary investor Warren Buffett has posted an impressive 21% year-to-date return for his flagship Berkshire Hathaway Inc(NYSE:BRKA) (NYSE:BRKB) in the first half of 2021.\nHere's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.\n1. Aon:Earlier this year, Berkshire Hathaway took an initial position in insurance broker Aon plc(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.\nAonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.\n2. Apple:There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant Apple Inc(NASDAQ:AAPL) traded flat in the first half of 2021.\nApple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.\n3. Bank of America: Bank of America Corporation(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in Wells Fargo Co(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.\nBank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.\nRevenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.\n4. Coca-Cola:One of Buffett's favorites is Coca-Cola Co (NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of Monster Beverage Corporation(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.\n5. Verizon:Shares of Verizon Communications(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.\nA shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.","news_type":1,"symbols_score_info":{"WFC":0.9,"BRK.B":0.9,"BRK.A":0.9,"MNST":0.9,"AON":0.9,"KO":0.9,"BAC":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151031835,"gmtCreate":1625056573927,"gmtModify":1631892183322,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576545773081754","idStr":"3576545773081754"},"themes":[],"title":"","htmlText":"It’s coming home- like and comment&nbsp;","listText":"It’s coming home- like and 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/138050328","repostId":"2138159407","repostType":4,"isVote":1,"tweetType":1,"viewCount":782,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891782872,"gmtCreate":1628429971196,"gmtModify":1631890951147,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like&nbsp;","listText":"Pls like&nbsp;","text":"Pls 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/111485376","repostId":"1115876867","repostType":4,"isVote":1,"tweetType":1,"viewCount":436,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":871742004,"gmtCreate":1637116460406,"gmtModify":1637116460671,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Pls like thanks&nbsp;","listText":"Pls like thanks&nbsp;","text":"Pls like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/871742004","repostId":"2184881094","repostType":4,"isVote":1,"tweetType":1,"viewCount":5096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":142684855,"gmtCreate":1626146427777,"gmtModify":1631890951174,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/142684855","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</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\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148804336,"gmtCreate":1625965025325,"gmtModify":1631892183239,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/148804336","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohunote.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">marketwatch</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://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143898724,"gmtCreate":1625786501968,"gmtModify":1631892183252,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/143898724","repostId":"1195657546","repostType":4,"isVote":1,"tweetType":1,"viewCount":776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168225136,"gmtCreate":1623976880525,"gmtModify":1634024956415,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Market to go up- like and comment&nbsp;","listText":"Market to go up- like and comment&nbsp;","text":"Market to go up- like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/168225136","repostId":"2144286417","repostType":4,"isVote":1,"tweetType":1,"viewCount":484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163546608,"gmtCreate":1623890018804,"gmtModify":1634026426023,"author":{"id":"3576545773081754","authorId":"3576545773081754","name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576545773081754","authorIdStr":"3576545773081754"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/163546608","repostId":"2144713861","repostType":4,"isVote":1,"tweetType":1,"viewCount":717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}