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janiceyl

janiceyl

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2021-06-07

About time to tax these rich coy

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2021-07-11

Good

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2021-05-17

Not sure if this helps

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2021-04-15

Good to go

Wall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</blockquote>

2021-04-10

Good news

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2021-03-28

Good news

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2021-06-13

Will it last

Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>

2021-03-20

Good for market

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>

2021-05-09

New interest

The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>

2021-04-08

Are we going to get a leg up

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2021-04-02

Good option

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2021-03-27

Shoot for the sky

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>

2021-05-09

Good for tesla but competitors not happy

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2021-04-10

$Tesla Motors(TSLA)$wow when is the time

2021-04-01

Fuel cell way to go

Thinking About Buying Stock Or Options In FuelCell Or Plug Power?<blockquote>考虑购买FuelCell或普拉格能源的股票或期权？</blockquote>

2021-03-31

Good news

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2021-03-27

Xiao liao

‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst<blockquote>技术分析师表示，随着投资者急于获利，比特币可能成为下一张倒下的多米诺骨牌</blockquote>

2021-03-18

Time for respite for the exuberance on tech stocks.

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2021-05-09

Blood on the street

What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote>

2021-04-23

Political move

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it last","listText":"Will it last","text":"Will it last","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/182883405","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://www.laohu8.com/m/news/1185020128?lang=zh_CN&edition=full","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线处于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>","source":"lsy1610449120050","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>Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</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\">\nMeme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-06-13 06:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线处于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">investors</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":{"PDCE":"PDC Energy","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"BBBY":0.9,"PDCE":0.9}},"isVote":1,"tweetType":1,"viewCount":1438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114615422,"gmtCreate":1623072241266,"gmtModify":1631891518013,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"About time to tax these rich coy","listText":"About time to tax these rich coy","text":"About time to tax these rich coy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/114615422","repostId":"1126396501","repostType":4,"isVote":1,"tweetType":1,"viewCount":1374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112517584,"gmtCreate":1622885757648,"gmtModify":1631891518022,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Long wait","listText":"Long wait","text":"Long 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sure if this helps","listText":"Not sure if this helps","text":"Not sure if this helps","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/195969036","repostId":"1197978343","repostType":4,"isVote":1,"tweetType":1,"viewCount":1012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191410802,"gmtCreate":1620897485306,"gmtModify":1631891518060,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Bad news","listText":"Bad news","text":"Bad news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191410802","repostId":"1184813521","repostType":4,"isVote":1,"tweetType":1,"viewCount":1362,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190027838,"gmtCreate":1620557194924,"gmtModify":1631884479214,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"New interest","listText":"New interest","text":"New interest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190027838","repostId":"1147179681","repostType":4,"repost":{"id":"1147179681","kind":"news","pubTimestamp":1620458192,"share":"https://www.laohu8.com/m/news/1147179681?lang=zh_CN&edition=full","pubTime":"2021-05-08 15:16","market":"us","language":"en","title":"The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147179681","media":"Benzinga","summary":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, ","content":"<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</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 Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-05-08 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">Benzinga</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":{"JAZZ":"爵士制药","MSRT":"MassRoots, Inc.","SNDL":"SNDL Inc.","MJ":"Amplify Alternative Harvest ETF","GWPH":"GW Pharmaceuticals plc","YOLO":"AdvisorShares Pure Cannabis ETF","TCNNF":"Trulieve Cannabis Corporation","GTBIF":"Green Thumb Industries Inc.","JUSHF":"Jushi Holdings Inc.","APHA":"Aphria Inc.","THCX":"Innovation Shares Cannabis ETF","CNBS":"Amplify Seymour Cannabis ETF","SPY":"标普500ETF","TLRY":"Tilray Inc.","CNTMF":"FLUENT CORP","CNBX":"CNBX Pharmaceuticals Inc.","MSOS":"AdvisorShares Pure US Cannabis ETF","NGD":"New Gold"},"source_url":"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147179681","content_text":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion.Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.Jazz Pharmaceuticals(NASDAQ:JAZZ) finalized its acquisition of GW Pharmaceuticals plc.(NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma's cash.Meanwhile,Ascend Wellness Holdings(CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.After two weeks of consolidating below resistance at the $1 level, shares of Reddit favorite Sundial Growers Inc. have resumed their downtrend.Credit Suisse Group AG(NYSE:CS) reportedly stopped handling transactions in shares of cannabis companies with U.S. operations and plans to refrain from holding cannabis stocks on behalf of its clients.The Swiss-based lender, which declined to give a statement, was among a handful of banks willing to buy and sell marijuana-related stocks and hold the shares as a custodian for clients in the United States. While it's not yet clear what impact this decision will have, Reuters reported the move has affected the sale of marijuana stocks in recent weeks.In fact, all major ETFs were down. Over the five trading days of this week:TheETFMG Alternative Harvest ETF(NYSE:MJ): lost 0.2%.The$AdvisorShares Pure Cannabis ETF(YOLO)$(NYSE:YOLO): tumbled 1.8%.TheAdvisorShares Pure US Cannabis ETF(NYSE:MSOS): shed 0.2% of its value.TheCannabis ETF(NYSE:THCX): dropped 3.4%.TheAmplify Seymour Cannabis ETF(NYSE:CNBS): was down 3.5%.TheSPDR S&P 500 ETF Trust(NYSE:SPY) closed the week up 1.21%.Policy, Science And DataIn New York, people gathered to celebrate cannabis legalization.“Last weekend's annual New York City cannabis parade brought out a who's who in politicians jockeying for position to be the one who wasalwayssupportive of legalizing cannabis. Ah-hem. Water under the bridge shall we say,” commented Debra Borchardt, CEO ofGreen Market Report. “With adult use cannabis sales likely to be legal by next year's parade, the people who attended were clearly in a celebratory mood. The New York market is expected to be the largest in the country and there were many small businesses working the crowd. There should be a Tinder app for social equity applicants to hook up with investors as there was a lot of talk about social equity applicants, but most have no money or very little.”In ColoradoGov. Jared Polis signed a bill that would expand access to medical cannabis for school children in need by removing obstacles to its administration.Financings And M&AJushi Holdings Inc.(CSE:JUSH) (OTC:JUSHF) finalized its purchase of a 93,000 sq. ft. facility operated by its subsidiary,Dalitso LLC, for around $22 million. The deal also includes nearly nine acres of surrounding land in Prince William County, Virginia.High Tide Inc.(TSXV:HITI) (OTCQB:HITIF) (FRA: 2LY) will acquire 80% ofFab Nutrition, LLC. (operating as FABCBD) for $20.64 million in stock and cash.MassRoots, Inc.(OTC:MSRT) is looking to acquireEmpire Services, Inc. for $14 million in a primarily stock-based transaction.Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) purchased West Virginia-basedMountaineer Holding LLCfor $6 million.Cansortium Inc.(CSE:TIUM), (OTCQB:CNTMF), doing business under the Fluent brand, exercised its right to regain up to the maximum of $5 million of convertible promissory notes, originally issued in the amount of $10 million in 2019.Green Thumb Industries Inc.(CSE:GTII) (OTCQX:GTBIF) will reach the Virginia market via its acquisition ofDharma Pharmaceuticals LLC.Earnings ReportsKiaro Holdings Corp.(TSXV:KO) reported record revenues of CA$17.1 million in 2021, representing a year-over-year increase of 230%. Same-store sales spiked 58% over the same period.Cansortium Inc.(CSE:TIUM) (OTCQB:CNTMF), which operates under the Fluent brand, announced its fourth-quarter and full-year 2020 financial results, with consolidated revenue of $14.7 million for the three months ending Dec. 31, up 54% year-over-year.Scotts Miracle-Gro (NYSE:SMG) reported that company-wide sales grew by 32% year-over-year reaching $1.83 billion in the second quarter. For the first half of fiscal 2021, the company reported sales of $2.58 billion, up by 47% from $1.75 billion in sales posted a year ago.Sales for the cannabis-focused Hawthorne segment climbed up to $363.8 million, representing a 66% year-over-year increase.Lowell Farms Inc.(CSE:LOWL) (OTCQX:LOWLF) generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.Cannabis REITInnovative Industrial Properties, Inc.(NYSE:IIPR) announced its total revenue increased by 103% year-over-year to $42.9 million in the first quarter of 2021. Net income for the same period was roughly $25.6 million, or $1.05 per diluted share, representing an annual growth of 122%.POSaBIT Systems Corporation(CSE:PBIT) (OTCQX:POSAF) reported its total revenue increased by 327% year-over-year, hitting roughly $3.06 million in the fourth quarter of 2020. Total revenue amounted to $7.82 million in 2020, representing an annual increase of 127%.Cronos Group Inc (NASDAQ: CRON) reported a Q1 adjusted EBITDA loss of $37.07 million, marginally up from $37.05 million reported a year ago. This slight increase in losses was primarily driven by the rise in sales and marketing costs due to brand development in the U.S. segment and an increase in R&D costs.Hemp cultivation and processing brandHempFlaxposted its full-year 2020 earnings report, with revenues of €14.5 million ($17.4 million), up 43% from 2019's $10.1 million. EBITDA increased 63% from 2019, totaling €1.8 million, marking the company's second profitable year. EBITDA margins increased to 12.7% from the previous year's 11.1%.Planet 13 Holdings Inc.(CSE:PLTH) (OTCQX:PLNHF) generated record sales in April of $10.7 million — almost as much as last year’s total second-quarter revenue of $10.8 million.Other NewsCanadian hospital Sunnybrook Health Sciences Centre and Avicana Inc(OTC:AVCNF) announced a partnership to provide medical cannabis products on-site through the Odette Cancer Centre Pharmacy.Orchid Ventures Inc(OTC:ORVRD) entered an exclusive licensing agreement with Gold Flora. Per the agreement, Gold Flora will be assuming all production, sales, and distribution of Orchid Essentials products throughout the state of California, and purchasing all hardware, packaging, and terpenes through PurTecDelivery Systems, a wholly-owned subsidiary of Orchid Ventures.“As one of the highest growth operators in the state, we are confident that Gold Flora's leadership and quality of their operations will accelerate Orchid's growth potential, further establishing the brand as a leader in the largest recreational cannabis market in the world, California,” Corey Mangold, CEO and chairman of Orchid Ventures, told Benzinga.Applied DNA Sciences, Inc.(NASDAQ:APDN) signed a new contract with the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) with a maximal value of $1.04 million.MedMen Enterprises Inc(CSE:MMEN) (OTC:MMNFF) announced the opening of its first Miami Beach, Florida location.Tamerlane Tradinglaunched an online quality-verified marketplace for wholesale and bulk cannabis, calling the move the first and only cannabis marketplace of its kind in the world.“Our overall goal with the new online marketplace is to establish trust and transparency in the cannabis industry. By including quality verification and grading of cannabis product, wholesale buyers and suppliers will benefit,” said Jhavid Mohseni, CEO of Tamerlane Trading.Acreage Holdings, Inc.(CSE:ACRG) (OTC:ACRGF) andMedterra CBD, LLCare joining forces to develop a CBD-based collection of products.Sitka Hash Househas launched its handmade hashish-based products into the California market with manufacturing partner, Garden Society. Founded in 2012, Sitka claims 9 out of the top 10 hashish SKUs in Washington state.Sitka CEO Jeff Graham told Benzinga, “Interstate expansion offers us the opportunity to provide our original cannabis concentrates to new audiences. We are proud to enter California with the Garden Society as our manufacturer and HERBL as our distributor.”The Aster Farms team tracked their energy consumption, CO2e emissions, water use, solid waste as well as their hiring practices over the last year. The company now released its first annual Sustainability Report.“Sustainability is part of our company's DNA,” shared Aster Farms CEO and co-founder Julia Jacbonson. “From regenerative agriculture and recyclable packaging to inclusive hiring practices, we understand that sustainable farming is only part of the story.”“The cannabis industry is in a unique position to change the paradigm of what a successful company looks and feels like and what is considered most important,” she added.Newly released podcastHighly Unlikely,hosted by standup comedianAlex Gettlinand produced by Wikileaf, dives into the absurdity of the world we live in. Each episode features famed comedian guests losing their minds over some very real and strange facts while trying various new cannabis products.Canadian licensed cannabis producers and global markets will have access to time-tested, feminized, organic-certified cannabis seeds. This is thanks to a new partnership betweenHumboldt Seed CompanyandNymera,which will allow not only the production and sale of the seeds in Canada, but also the export of these genetics to other countries with legal cannabis markets around the world.This is the first time a cannabis seed is certified as organic.Calyxtannounced advancements in technology that will make it easier for scientists to bring advanced breeding into hemp. The company, an expert at improving crops like soybeans and wheat to produce more heart-healthy oil or higher fiber, announced its scientists have transformed hemp – an important step as the company can now engineer the hemp genome, unlocking capabilities to selectively breed and deliver improvements in hemp traits through advanced plant breeding like gene editing or even GM level engineering.“We were able to change the plants DNA and regenerate plants through tissue culture, thus accomplishing something that has been fairly elusive in hemp to date,\" said Travis Frey, Ph.D., chief technology officer of Calyxt. “By modernizing the hemp crop, we can now deliver traits that benefits both growers and consumers who are increasingly looking for plant-based and sustainable foods, materials, cosmeceuticals, nutraceuticals and more.\"Zelira Therapeutics Ltd(ASX:ZLD) (OTCQB:ZLDAF) launched its HOPE line of cannabis products in Washington DC. The product line, especially formulated for autism spectrum disorder (ASD) patients of all ages, is also available in Pennsylvania, Louisiana and Australia.“Since we first launched HOPE in the US, our long-term goal has been to make it accessible to ASD patients everywhere, and Washington DC's reciprocity allows us to take a huge step in that direction here in the US,” Dr. Oludare Odumosu, CEO of Zelira Therapeutics, told Benzinga. “The nation's capital is one of the most popular travel destinations, so we are thrilled to be able to offer HOPE there as a treatment option for ASD patients from around the country who travel to DC.”Cannabics Pharmaceuticals Inc.(OTCQB:CNBX), received a “Notice of Allowance” from the Mexican Patent and Trademark Office (IMPI) for a patent on a “System and method for high throughput screening of cancer cells.”Executive MovesCBD products distributor,Khode LLC., announced Tuesday it formed its first board of directors consisting of music artists, executives and CBD industry veterans, including Grammy award-winning artists and entrepreneurDJ Khaled, music executiveLenny S, CEO ofEndexx Corporation(OTC:EDXC)Todd Davis, andStephen HerronandRon CottingofCBD Unlimited, Inc.","news_type":1,"symbols_score_info":{"JAZZ":0.9,"GWPH":0.9,"HITIF":0.9,"NGD":0.9,"CNTMF":0.9,"THCX":0.9,"CNBS":0.9,"MSRT":0.9,"YOLO":0.9,"SPY":0.9,"APHA":0.9,"SNDL":0.9,"GTBIF":0.9,"TCNNF":0.9,"MJ":0.9,"CS":0.9,"CNBX":0.9,"TLRY":0.9,"JUSHF":0.9,"MSOS":0.9}},"isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190027356,"gmtCreate":1620557136175,"gmtModify":1631891518070,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good for tesla but competitors not happy&nbsp;","listText":"Good for tesla but competitors not happy&nbsp;","text":"Good for tesla but competitors not happy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190027356","repostId":"1140579879","repostType":4,"isVote":1,"tweetType":1,"viewCount":1351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190024439,"gmtCreate":1620557025521,"gmtModify":1631891518083,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Blood on the street","listText":"Blood on the street","text":"Blood on the street","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190024439","repostId":"1122089368","repostType":4,"repost":{"id":"1122089368","kind":"news","pubTimestamp":1620457397,"share":"https://www.laohu8.com/m/news/1122089368?lang=zh_CN&edition=full","pubTime":"2021-05-08 15:03","market":"us","language":"en","title":"What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122089368","media":"The Wall Street Journal","summary":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are t","content":"<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.</p><p><blockquote>对于金融泡沫的老手来说，现在有很多熟悉的东西。股票估值是自2000年互联网泡沫以来最高的。房价回到了金融危机前的峰值。高风险公司可以以有记录以来的最低利率借款。个人投资者正在向绿色能源和加密货币投入资金。</blockquote></p><p>This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.</p><p><blockquote>这种繁荣有一些合理的解释，从数字商务的进步到可能是1983年以来最强劲的财政增长。</blockquote></p><p>But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.</p><p><blockquote>但最重要的是一个驱动因素：美联储。宽松的货币政策经常推动金融繁荣，现在尤其容易。美联储在过去一年中将利率维持在接近零的水平，并暗示利率至少在两年内不会改变。它正在购买数千亿美元的债券。因此，10年期国债收益率远低于通胀——即实际收益率深度为负——这是40年来的第二次。</blockquote></p><p>There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.</p><p><blockquote>利率如此之低是有充分理由的。美联储采取行动是为了应对一场疫情，这场疫情在最严重的时候可能造成的损害甚至比2007-09年的金融危机还要大。然而，这在很大程度上要归功于美联储和国会通过了约5万亿美元的财政刺激计划，这次复苏看起来比上次要健康得多。这可能会削弱利率如此之低的原因，威胁市场的基础。</blockquote></p><p>“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”</p><p><blockquote>与现任主席杰罗姆·鲍威尔一起担任美联储理事的哈佛大学经济学家杰里米·斯坦表示：“假设利率将长期处于低位，股市的定价至少是完美的。”“当然，你会感觉到美联储非常努力地说，‘一切都很好，我们不急于加息。’但虽然我不认为我们会走向持续的高通胀，但这是完全有可能的。我们将有几个季度的通胀热点数据。”</blockquote></p><p>Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”</p><p><blockquote>他问道，由于只有在利率保持极低水平的情况下，股票估值才是合理的，因此如果美联储不得不收紧货币政策以对抗通胀并且债券收益率上升1至1.5个百分点，股票如何重新定价。“资产价格可能会出现严重调整。”</blockquote></p><p><b>‘A bit frothy’</b></p><p><blockquote><b>“有点泡沫”</b></blockquote></p><p>The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.</p><p><blockquote>美联储以前也来过这里。20世纪90年代末，为了应对亚洲金融危机和对冲基金长期资本管理公司几近崩溃，它愿意降息，这被一些人视为隐性的市场支持，助长了随后的互联网泡沫。泡沫破裂后的低利率政策被指责推高了房价。两次美联储官员都为自己的政策辩护，认为仅仅为了防止泡沫而加息（或不降息）会损害他们低失业率和通胀的主要目标，而且比让泡沫自行破灭造成的危害更大。</blockquote></p><p>As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.</p><p><blockquote>至于今年，央行在本周的一份报告中警告称，资产“估值普遍较高”，“如果投资者风险偏好下降、遏制病毒进展令人失望或复苏停滞，资产估值很容易大幅下跌”。4月28日，鲍威尔承认市场看起来“有点泡沫”，美联储可能是原因之一：“我不会说这与货币政策无关，但它与疫苗接种有很大关系和经济重新开放。”但他没有暗示美联储将缩减刺激措施：“经济距离我们的目标还有很长的路要走。”劳工部周五的一份报告显示，4月份创造的就业机会远低于华尔街的预期，这突显了这一点。</blockquote></p><p>The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”</p><p><blockquote>美联储的选择深受金融危机的影响。尽管美联储当时将利率降至接近零的水平并购买了债券，但随着家庭、银行和政府寻求偿还债务，美联储正面临强大的阻力。这抑制了支出，并将通胀率推至美联储2%的目标以下。人口老龄化等深层次力量也抑制了经济增长和利率，一些人将这种组合称为“长期停滞”。</blockquote></p><p>The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.</p><p><blockquote>一年前的疫情关闭引发了对经济产出的打击，最初比金融危机还要严重。但两个月后，随着限制放松和企业适应社交距离，经济活动开始复苏。美联储启动了新的贷款计划，国会通过了2.2万亿美元的Cares法案。疫苗比预期的更早到达。美国经济可能会在本季度达到大流行前的规模，比金融危机后快两年。</blockquote></p><p>And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.</p><p><blockquote>然而，即使前景有所改善，财政和货币的水龙头仍然敞开着。去年5月，民主党人首次提出额外3万亿美元的刺激计划，当时预计去年产出将下降6%。实际上下降了不到一半，但民主党在赢得白宫和国会后，继续推进同样规模的刺激计划。</blockquote></p><p></p><p>The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.</p><p><blockquote>美联储于2020年3月开始购买债券，以应对市场的混乱状况。夏末，随着市场正常运转，它延长了该计划，同时将理由转向保持低债券收益率。</blockquote></p><p>At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.</p><p><blockquote>与此同时，它公布了一个新框架：在通胀率多年低于2%之后，它的目标是将通胀率不仅推回到2%，而且更高，以便随着时间的推移，平均通胀率和预期通胀率都稳定在2%。为此，它承诺在充分就业恢复、通胀率达到2%并走高之前不会加息。官员们预测这种情况在2024年之前不会发生，尽管前景显着改善，但此后仍坚持这一指导。</blockquote></p><p><b>Running of the bulls</b></p><p><blockquote><b>奔牛节</b></blockquote></p><p>This injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&amp;P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.</p><p><blockquote>美国银行的一项调查显示，向因疫苗接种而已经反弹的经济注入前所未有的货币和财政刺激措施，这就是华尔街策略师自上次金融危机前以来最看好股市的原因。虽然盈利预测大幅上升，但股市涨幅更大。根据FactSet的数据，标普500股票指数目前的交易价格约为来年利润的22倍，这一水平仅在2000年互联网繁荣的顶峰时期才超过。</blockquote></p><p>Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.</p><p><blockquote>其他资产市场也同样捉襟见肘。根据彭博巴克莱的数据，投资者愿意以至少1995年以来的最低收益率以及自2007年以来与安全国债的最窄利差购买垃圾级公司的债券。经通胀调整后，住宅和商业地产价格接近2006年达到的峰值。</blockquote></p><p>Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.</p><p><blockquote>今天的股票和房地产估值比2000年或2006年更加合理，因为无风险国债的回报率要低得多。从这个意义上说，美联储的政策完全按照预期发挥作用：改善经济前景，这有利于利润、住房需求和企业信誉；和风险偏好。</blockquote></p><p>Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.</p><p><blockquote>尽管如此，低利率不再足以证明某些资产估值的合理性。相反，多头会调用替代指标。</blockquote></p><p>Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.</p><p><blockquote>美国银行最近指出，碳排放量相对较低、用水效率较高的公司估值较高。这些估值并不是优越的现金流或利润前景的结果，而是根据环境、社会和治理（ESG）标准投资的资金浪潮。</blockquote></p><p>Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.</p><p><blockquote>对于不赚取利息、租金或股息的加密货币，传统估值也毫无用处。相反，倡导者声称数字货币将取代央行发行的法定货币作为交易媒介和价值储存手段。“加密货币有可能像互联网一样具有革命性并被广泛采用，”加密货币交易所Coinbase GlobalInc.首次公开募股的招股说明书称，其语言让人想起二十多年前与互联网相关的IPO。根据信息服务机构CoinDesk的数据，截至4月29日，加密货币的价值超过2万亿美元，大致相当于流通中的所有美元。</blockquote></p><p>Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.</p><p><blockquote>金融创新也在发挥作用，就像过去的金融繁荣一样。投资组合保险是一种旨在对冲市场损失的策略，在1987年股市崩盘期间放大了抛售。20世纪90年代，互联网股票经纪人推动了科技股的上涨，而在21世纪初，次级抵押贷款衍生品帮助为住房融资。今天的等价物是零佣金经纪商，如Robinhood Markets Inc.、部分所有权和社交媒体，所有这些都赋予了个人投资者权力。</blockquote></p><p>Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&amp;P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.</p><p><blockquote>根据世界各国央行组成的财团国际清算银行最近的一份报告，此类投资者越来越多地影响整体市场的走向。例如，它发现，自2017年以来，跟踪机构投资者最喜欢的标普500的交易所交易基金的交易量已经持平，而个人投资者更喜欢的成分股的交易量却在攀升。报告指出，个人更有可能出于与其基础业务无关的原因购买一家公司的股票，例如，因为该公司的名称与另一只正在上涨的股票相似。</blockquote></p><p>While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.</p><p><blockquote>虽然这种猜测经常被归咎于美联储，但很难划清界限。财政刺激则不然。金融研究公司Bianco Research的负责人Jim Bianco表示，随着财政部发放1400美元的刺激支票，3月份流入交易所交易基金和共同基金的资金激增。“你用支票做的第一件事就是将其存入你的账户，到2021年，这就是你的经纪账户，”比安科先生说。</blockquote></p><p><b>Facing the future</b></p><p><blockquote><b>面向未来</b></blockquote></p><p></p><p>It’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.</p><p><blockquote>无法预测这一切将如何结束，甚至是否会结束。事实并非如此：高价股票最终可能会赚取必要的利润来证明当今的估值是合理的，尤其是在经济目前处于领先地位的情况下。与此同时，随着利润令人失望或竞争的出现，更极端的投机领域可能会在自身压力下崩溃。</blockquote></p><p>Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.</p><p><blockquote>比特币曾威胁要取代美元；现在，许多竞争对手也声称要做同样的事情。特斯拉公司曾经是你唯一可以购买来押注电动汽车的股票；现在有蔚来、NikolaCorp.和FiskerInc.，更不用说大众汽车公司和通用汽车公司等老牌制造商正在推出越来越多的电动车型。</blockquote></p><p>But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.</p><p><blockquote>但资产全面下跌可能涉及某种宏观经济事件，例如经济衰退、金融危机或通货膨胀。</blockquote></p><p>The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.</p><p><blockquote>美联储上周的报告称，该病毒仍然是对经济乃至金融体系的最大威胁。4月份的就业令人失望提醒人们经济前景仍然多么不稳定。尽管如此，随着病毒的消退，经济衰退现在似乎不太可能发生。不能排除与一些隐藏的脆弱性相关的金融危机。尽管如此，银行拥有如此多的资本，而抵押贷款承销又如此紧张，以至于类似于2007-09年始于抵押贷款违约的金融危机似乎很遥远。如果垃圾债券、加密货币或科技股主要是用借来的钱购买的，其价值暴跌可能会引发一波强制抛售、破产和潜在的危机。但这似乎并没有发生。Archegos Capital Management最近因衍生品股票投资逆转而倒闭，给其贷方造成了损失。但这并没有威胁到他们的生存，也没有引发对处境相似的公司的蔓延。</blockquote></p><p>“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”</p><p><blockquote>“第二个阿尔奇戈斯在哪里？”比安科先生说。“还没有。”</blockquote></p><p>That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.</p><p><blockquote>这就剩下通货膨胀了。由于半导体、木材和工人的短缺都给价格和成本带来了上行压力，对通胀的担忧现在很普遍。大多数预测者和美联储认为，一旦经济重新开放和正常支出模式恢复，这些压力将会缓解。尽管如此，常规债券收益率和通胀指数债券收益率之间的差异表明，投资者预计未来几年的通胀率平均约为2.5%。这很难是20世纪70年代的重演，也符合美联储长期平均通胀率2%的新目标。尽管如此，这将明显打破过去十年低于2%的区间。</blockquote></p><p>Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw &amp; Co. LP. He attributes that, in part, to inflation concerns.</p><p><blockquote>通胀略高将导致美联储将短期利率也略高，这不一定会损害股票估值。更令人担忧的是：对股票价值至关重要的长期债券收益率可能会大幅上升。自20世纪90年代末以来，债券和股票价格往往朝着相反的方向波动。这是因为当通胀不是问题时，经济冲击往往会压低债券收益率（与价格走势相反）和股票价格。因此，债券充当了抵御股票损失的保险政策，投资者愿意接受较低的收益率。如果通货膨胀再次成为一个问题，那么债券就会失去保险价值，其收益率就会上升。前美联储经济学家、现就职于对冲基金D.E.的布莱恩·萨克(Brian Sack)表示，近几个月来，过去几十年大部分时间里存在的股债相关性开始消失。肖公司。他将此部分归因于通胀担忧。</blockquote></p><p>The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.</p><p><blockquote>多年来，通货膨胀主导了金融领域，这导致投资者对资产定价，就好像通货膨胀再也不会产生这种影响一样。他们可能是对的。但如果史无前例的货币和财政刺激组合成功地使经济摆脱了过去十年的模式，这种自满可能会付出相当大的代价。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-05-08 15:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.</p><p><blockquote>对于金融泡沫的老手来说，现在有很多熟悉的东西。股票估值是自2000年互联网泡沫以来最高的。房价回到了金融危机前的峰值。高风险公司可以以有记录以来的最低利率借款。个人投资者正在向绿色能源和加密货币投入资金。</blockquote></p><p>This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.</p><p><blockquote>这种繁荣有一些合理的解释，从数字商务的进步到可能是1983年以来最强劲的财政增长。</blockquote></p><p>But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.</p><p><blockquote>但最重要的是一个驱动因素：美联储。宽松的货币政策经常推动金融繁荣，现在尤其容易。美联储在过去一年中将利率维持在接近零的水平，并暗示利率至少在两年内不会改变。它正在购买数千亿美元的债券。因此，10年期国债收益率远低于通胀——即实际收益率深度为负——这是40年来的第二次。</blockquote></p><p>There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.</p><p><blockquote>利率如此之低是有充分理由的。美联储采取行动是为了应对一场疫情，这场疫情在最严重的时候可能造成的损害甚至比2007-09年的金融危机还要大。然而，这在很大程度上要归功于美联储和国会通过了约5万亿美元的财政刺激计划，这次复苏看起来比上次要健康得多。这可能会削弱利率如此之低的原因，威胁市场的基础。</blockquote></p><p>“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”</p><p><blockquote>与现任主席杰罗姆·鲍威尔一起担任美联储理事的哈佛大学经济学家杰里米·斯坦表示：“假设利率将长期处于低位，股市的定价至少是完美的。”“当然，你会感觉到美联储非常努力地说，‘一切都很好，我们不急于加息。’但虽然我不认为我们会走向持续的高通胀，但这是完全有可能的。我们将有几个季度的通胀热点数据。”</blockquote></p><p>Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”</p><p><blockquote>他问道，由于只有在利率保持极低水平的情况下，股票估值才是合理的，因此如果美联储不得不收紧货币政策以对抗通胀并且债券收益率上升1至1.5个百分点，股票如何重新定价。“资产价格可能会出现严重调整。”</blockquote></p><p><b>‘A bit frothy’</b></p><p><blockquote><b>“有点泡沫”</b></blockquote></p><p>The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.</p><p><blockquote>美联储以前也来过这里。20世纪90年代末，为了应对亚洲金融危机和对冲基金长期资本管理公司几近崩溃，它愿意降息，这被一些人视为隐性的市场支持，助长了随后的互联网泡沫。泡沫破裂后的低利率政策被指责推高了房价。两次美联储官员都为自己的政策辩护，认为仅仅为了防止泡沫而加息（或不降息）会损害他们低失业率和通胀的主要目标，而且比让泡沫自行破灭造成的危害更大。</blockquote></p><p>As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.</p><p><blockquote>至于今年，央行在本周的一份报告中警告称，资产“估值普遍较高”，“如果投资者风险偏好下降、遏制病毒进展令人失望或复苏停滞，资产估值很容易大幅下跌”。4月28日，鲍威尔承认市场看起来“有点泡沫”，美联储可能是原因之一：“我不会说这与货币政策无关，但它与疫苗接种有很大关系和经济重新开放。”但他没有暗示美联储将缩减刺激措施：“经济距离我们的目标还有很长的路要走。”劳工部周五的一份报告显示，4月份创造的就业机会远低于华尔街的预期，这突显了这一点。</blockquote></p><p>The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”</p><p><blockquote>美联储的选择深受金融危机的影响。尽管美联储当时将利率降至接近零的水平并购买了债券，但随着家庭、银行和政府寻求偿还债务，美联储正面临强大的阻力。这抑制了支出，并将通胀率推至美联储2%的目标以下。人口老龄化等深层次力量也抑制了经济增长和利率，一些人将这种组合称为“长期停滞”。</blockquote></p><p>The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.</p><p><blockquote>一年前的疫情关闭引发了对经济产出的打击，最初比金融危机还要严重。但两个月后，随着限制放松和企业适应社交距离，经济活动开始复苏。美联储启动了新的贷款计划，国会通过了2.2万亿美元的Cares法案。疫苗比预期的更早到达。美国经济可能会在本季度达到大流行前的规模，比金融危机后快两年。</blockquote></p><p>And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.</p><p><blockquote>然而，即使前景有所改善，财政和货币的水龙头仍然敞开着。去年5月，民主党人首次提出额外3万亿美元的刺激计划，当时预计去年产出将下降6%。实际上下降了不到一半，但民主党在赢得白宫和国会后，继续推进同样规模的刺激计划。</blockquote></p><p></p><p>The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.</p><p><blockquote>美联储于2020年3月开始购买债券，以应对市场的混乱状况。夏末，随着市场正常运转，它延长了该计划，同时将理由转向保持低债券收益率。</blockquote></p><p>At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.</p><p><blockquote>与此同时，它公布了一个新框架：在通胀率多年低于2%之后，它的目标是将通胀率不仅推回到2%，而且更高，以便随着时间的推移，平均通胀率和预期通胀率都稳定在2%。为此，它承诺在充分就业恢复、通胀率达到2%并走高之前不会加息。官员们预测这种情况在2024年之前不会发生，尽管前景显着改善，但此后仍坚持这一指导。</blockquote></p><p><b>Running of the bulls</b></p><p><blockquote><b>奔牛节</b></blockquote></p><p>This injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&amp;P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.</p><p><blockquote>美国银行的一项调查显示，向因疫苗接种而已经反弹的经济注入前所未有的货币和财政刺激措施，这就是华尔街策略师自上次金融危机前以来最看好股市的原因。虽然盈利预测大幅上升，但股市涨幅更大。根据FactSet的数据，标普500股票指数目前的交易价格约为来年利润的22倍，这一水平仅在2000年互联网繁荣的顶峰时期才超过。</blockquote></p><p>Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.</p><p><blockquote>其他资产市场也同样捉襟见肘。根据彭博巴克莱的数据，投资者愿意以至少1995年以来的最低收益率以及自2007年以来与安全国债的最窄利差购买垃圾级公司的债券。经通胀调整后，住宅和商业地产价格接近2006年达到的峰值。</blockquote></p><p>Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.</p><p><blockquote>今天的股票和房地产估值比2000年或2006年更加合理，因为无风险国债的回报率要低得多。从这个意义上说，美联储的政策完全按照预期发挥作用：改善经济前景，这有利于利润、住房需求和企业信誉；和风险偏好。</blockquote></p><p>Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.</p><p><blockquote>尽管如此，低利率不再足以证明某些资产估值的合理性。相反，多头会调用替代指标。</blockquote></p><p>Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.</p><p><blockquote>美国银行最近指出，碳排放量相对较低、用水效率较高的公司估值较高。这些估值并不是优越的现金流或利润前景的结果，而是根据环境、社会和治理（ESG）标准投资的资金浪潮。</blockquote></p><p>Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.</p><p><blockquote>对于不赚取利息、租金或股息的加密货币，传统估值也毫无用处。相反，倡导者声称数字货币将取代央行发行的法定货币作为交易媒介和价值储存手段。“加密货币有可能像互联网一样具有革命性并被广泛采用，”加密货币交易所Coinbase GlobalInc.首次公开募股的招股说明书称，其语言让人想起二十多年前与互联网相关的IPO。根据信息服务机构CoinDesk的数据，截至4月29日，加密货币的价值超过2万亿美元，大致相当于流通中的所有美元。</blockquote></p><p>Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.</p><p><blockquote>金融创新也在发挥作用，就像过去的金融繁荣一样。投资组合保险是一种旨在对冲市场损失的策略，在1987年股市崩盘期间放大了抛售。20世纪90年代，互联网股票经纪人推动了科技股的上涨，而在21世纪初，次级抵押贷款衍生品帮助为住房融资。今天的等价物是零佣金经纪商，如Robinhood Markets Inc.、部分所有权和社交媒体，所有这些都赋予了个人投资者权力。</blockquote></p><p>Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&amp;P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.</p><p><blockquote>根据世界各国央行组成的财团国际清算银行最近的一份报告，此类投资者越来越多地影响整体市场的走向。例如，它发现，自2017年以来，跟踪机构投资者最喜欢的标普500的交易所交易基金的交易量已经持平，而个人投资者更喜欢的成分股的交易量却在攀升。报告指出，个人更有可能出于与其基础业务无关的原因购买一家公司的股票，例如，因为该公司的名称与另一只正在上涨的股票相似。</blockquote></p><p>While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.</p><p><blockquote>虽然这种猜测经常被归咎于美联储，但很难划清界限。财政刺激则不然。金融研究公司Bianco Research的负责人Jim Bianco表示，随着财政部发放1400美元的刺激支票，3月份流入交易所交易基金和共同基金的资金激增。“你用支票做的第一件事就是将其存入你的账户，到2021年，这就是你的经纪账户，”比安科先生说。</blockquote></p><p><b>Facing the future</b></p><p><blockquote><b>面向未来</b></blockquote></p><p></p><p>It’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.</p><p><blockquote>无法预测这一切将如何结束，甚至是否会结束。事实并非如此：高价股票最终可能会赚取必要的利润来证明当今的估值是合理的，尤其是在经济目前处于领先地位的情况下。与此同时，随着利润令人失望或竞争的出现，更极端的投机领域可能会在自身压力下崩溃。</blockquote></p><p>Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.</p><p><blockquote>比特币曾威胁要取代美元；现在，许多竞争对手也声称要做同样的事情。特斯拉公司曾经是你唯一可以购买来押注电动汽车的股票；现在有蔚来、NikolaCorp.和FiskerInc.，更不用说大众汽车公司和通用汽车公司等老牌制造商正在推出越来越多的电动车型。</blockquote></p><p>But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.</p><p><blockquote>但资产全面下跌可能涉及某种宏观经济事件，例如经济衰退、金融危机或通货膨胀。</blockquote></p><p>The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.</p><p><blockquote>美联储上周的报告称，该病毒仍然是对经济乃至金融体系的最大威胁。4月份的就业令人失望提醒人们经济前景仍然多么不稳定。尽管如此，随着病毒的消退，经济衰退现在似乎不太可能发生。不能排除与一些隐藏的脆弱性相关的金融危机。尽管如此，银行拥有如此多的资本，而抵押贷款承销又如此紧张，以至于类似于2007-09年始于抵押贷款违约的金融危机似乎很遥远。如果垃圾债券、加密货币或科技股主要是用借来的钱购买的，其价值暴跌可能会引发一波强制抛售、破产和潜在的危机。但这似乎并没有发生。Archegos Capital Management最近因衍生品股票投资逆转而倒闭，给其贷方造成了损失。但这并没有威胁到他们的生存，也没有引发对处境相似的公司的蔓延。</blockquote></p><p>“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”</p><p><blockquote>“第二个阿尔奇戈斯在哪里？”比安科先生说。“还没有。”</blockquote></p><p>That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.</p><p><blockquote>这就剩下通货膨胀了。由于半导体、木材和工人的短缺都给价格和成本带来了上行压力，对通胀的担忧现在很普遍。大多数预测者和美联储认为，一旦经济重新开放和正常支出模式恢复，这些压力将会缓解。尽管如此，常规债券收益率和通胀指数债券收益率之间的差异表明，投资者预计未来几年的通胀率平均约为2.5%。这很难是20世纪70年代的重演，也符合美联储长期平均通胀率2%的新目标。尽管如此，这将明显打破过去十年低于2%的区间。</blockquote></p><p>Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw &amp; Co. LP. He attributes that, in part, to inflation concerns.</p><p><blockquote>通胀略高将导致美联储将短期利率也略高，这不一定会损害股票估值。更令人担忧的是：对股票价值至关重要的长期债券收益率可能会大幅上升。自20世纪90年代末以来，债券和股票价格往往朝着相反的方向波动。这是因为当通胀不是问题时，经济冲击往往会压低债券收益率（与价格走势相反）和股票价格。因此，债券充当了抵御股票损失的保险政策，投资者愿意接受较低的收益率。如果通货膨胀再次成为一个问题，那么债券就会失去保险价值，其收益率就会上升。前美联储经济学家、现就职于对冲基金D.E.的布莱恩·萨克(Brian Sack)表示，近几个月来，过去几十年大部分时间里存在的股债相关性开始消失。肖公司。他将此部分归因于通胀担忧。</blockquote></p><p>The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.</p><p><blockquote>多年来，通货膨胀主导了金融领域，这导致投资者对资产定价，就好像通货膨胀再也不会产生这种影响一样。他们可能是对的。但如果史无前例的货币和财政刺激组合成功地使经济摆脱了过去十年的模式，这种自满可能会付出相当大的代价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122089368","content_text":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”‘A bit frothy’The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.Running of the bullsThis injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.Facing the futureIt’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw & Co. LP. He attributes that, in part, to inflation concerns.The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372358006,"gmtCreate":1619181499805,"gmtModify":1631891518102,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/372358006","repostId":"1116132782","repostType":4,"repost":{"id":"1116132782","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":1619180197,"share":"https://www.laohu8.com/m/news/1116132782?lang=zh_CN&edition=full","pubTime":"2021-04-23 20:16","market":"us","language":"en","title":"Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116132782","media":"Tiger Newspress","summary":"U.S. Futures Rise After Stocks Bruised by Tax Plan\n\n\nU.S. dollar and Treasuries weaken; oil pares we","content":"<p><ul>  <li>U.S. Futures Rise After Stocks Bruised by Tax Plan</li> </ul> <ul>  <li>U.S. dollar and Treasuries weaken; oil pares weekly loss</li> </ul> U.S. stock index futures edged higher on Friday as investors awaited business activity data to gauge the pace of economic recovery, a day after reports that President Joe Biden planned to almost double the capital gains tax spooked markets.</p><p><blockquote><ul><li>股市受到税收计划重创后美国期货上涨</li></ul><ul><li>美元和美国国债走弱；油价收窄周跌幅</li></ul>美国股指期货周五小幅走高，因投资者等待商业活动数据以衡量经济复苏步伐，此前一天，有报道称总统乔·拜登计划将资本利得税提高近一倍，令市场感到恐慌。</blockquote></p><p> At 08:05 a.m. ET, Dow e-minis were up 8 points, or 0.02%, S&amp;P 500 e-minis were up 6.5 points, or 0.16%, and Nasdaq 100 e-minis were up 19.5 points, or 0.14%.</p><p><blockquote>截至美国东部时间上午08:05，道指e-minis上涨8点，涨幅0.02%，标普500 e-minis上涨6.5点，涨幅0.16%，纳斯达克100 e-minis上涨19.5点，涨幅0.14%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0479e3eceac0801a6343fe6821a592ef\" tg-width=\"1080\" tg-height=\"391\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> Cryptocurrency and blockchain-related stocks including Riot Blockchain&nbsp;and Marathon Digital&nbsp;tumbled after bitcoin suffered hefty losses on fears plans to raise capital gains taxes would curb investment in digital assets.</p><p><blockquote>由于担心提高资本利得税的计划将抑制对数字资产的投资，比特币遭受重创，包括Riot Blockchain和Marathon Digital在内的加密货币和区块链相关股票暴跌。</blockquote></p><p> IHS Markit's flash reading at 9:45 a.m ET is likely to show business activity in the manufacturing and services sectors improved in April from the prior month.</p><p><blockquote>IHS Markit美国东部时间上午9:45的快速读数可能显示4月份制造业和服务业的商业活动较上月有所改善。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Intel&nbsp;</b><b>(INTC)</b> – Intel fell 2.5% in premarket trading despite&nbsp;beating estimates on both the top and bottom lines&nbsp;for the first quarter. Investors are focusing on a lighter than expected full-year sales forecast, even though the chipmaker raised that outlook from its prior guidance.</p><p><blockquote><b>英特尔</b><b>(INTC)</b>-尽管第一季度的营收和利润均超出预期，但英特尔在盘前交易中仍下跌2.5%。投资者关注的是低于预期的全年销售预测，尽管这家芯片制造商从之前的指引上调了这一前景。</blockquote></p><p> <b>Snap&nbsp;</b><b>(SNAP) </b>– The parent of Snapchat&nbsp;reported a breakeven quarter, compared to consensus forecasts for a 6 cents per share loss. Revenue also beat estimates, as did user growth for Snapchat, and the stock rallied 4.6% in the premarket.</p><p><blockquote><b>Snap</b><b>（SNAP）</b>-Snapchat母公司报告季度实现盈亏平衡，而市场普遍预测每股亏损6美分。Snapchat的收入和用户增长也超出了预期，该股盘前上涨4.6%。</blockquote></p><p> <b>American Express&nbsp;(AXP) </b>– American Express reported first-quarter profit of $2.74 per share, beating the consensus estimate of $1.61 a share. The financial services company’s revenue came in slightly short of forecasts. The bottom line was helped by $1.05 billion in credit reserve releases as the macroeconomic environment improved. American Express shares fell 3.5% in premarket trading.</p><p><blockquote><b>美国运通(AXP)</b>-美国运通公布第一季度每股盈利2.74美元，超出市场普遍预期的每股1.61美元。这家金融服务公司的收入略低于预期。随着宏观经济环境的改善，10.5亿美元的信贷准备金释放有助于盈利。美国运通股价在盘前交易中下跌3.5%。</blockquote></p><p> <b>Honeywell&nbsp;(HON) </b>– The industrial conglomerate beat estimates by 12 cents a share, with quarterly earnings of $1.92 per share. Revenue beat estimates as well. Sales for Honeywell’s aerospace segment declined, but it saw strength in its safety and productivity business. Honeywell shares slid 1.2% in the premarket.</p><p><blockquote><b>霍尼韦尔(HON)</b>–该工业集团每股收益超出预期12美分，季度收益为每股1.92美元。收入也超出预期。霍尼韦尔航空航天部门的销售额下降，但其安全和生产力业务表现强劲。霍尼韦尔股价盘前下跌1.2%。</blockquote></p><p> <b>Schlumberger&nbsp;(SLB)</b> – The oilfield services company’s shares rose 1.4% in the premarket after it reported better-than-expected profit and revenue on improved international drilling activity. That follows upbeat reports earlier this week from rivals&nbsp;Halliburton&nbsp;(HAL) and&nbsp;Baker Hughes&nbsp;(BKR).</p><p><blockquote><b>斯伦贝谢(SLB)</b>-该油田服务公司股价盘前上涨1.4%，此前该公司报告称，由于国际钻探活动改善，利润和收入好于预期。此前，竞争对手哈里伯顿(HAL)和贝克休斯(BKR)本周早些时候发布了乐观报告。</blockquote></p><p> <b>Kimberly-Clark&nbsp;(KMB)</b> – The consumer products company’s stock dropped 3.3% in premarket action after it reported weaker-than-expected profit and sales for its latest quarter and gave a full-year forecast that came in below Wall Street consensus. Kimberly-Clark said it faced a number of challenges during the quarter, including supply chain issues and difficult comparisons to a year ago when consumers stocked up on items as the pandemic began.</p><p><blockquote><b>金佰利(KMB)</b>-这家消费品公司公布最近一个季度的利润和销售额弱于预期，并给出的全年预测低于华尔街共识，该公司股价在盘前下跌3.3%。金佰利表示，该季度面临许多挑战，包括供应链问题以及与一年前相比的困难，当时消费者在大流行开始时囤积商品。</blockquote></p><p> <b>Boston Beer&nbsp;(SAM) </b>– The Sam Adams brewer surged 7.6% in premarket action after beating top and bottom line estimates by a wide margin for its latest quarter. Boston Beer’s results were helped by a jump in sales for its Truly hard seltzer brand.</p><p><blockquote><b>波士顿啤酒（SAM）</b>-这家Sam Adams啤酒制造商在最近一个季度的营收和利润大幅超出预期后，在盘前股价飙升7.6%。波士顿啤酒的业绩得益于其Truly hard seltzer品牌销售额的增长。</blockquote></p><p> <b>Mattel&nbsp;(MAT)</b> – The toy maker’s shares rallied 6.8% in premarket action after it&nbsp;reported record 47% sales growth&nbsp;for its latest quarter compared to a year ago. Mattel reported a much smaller-than-expected loss, but revenue beat forecasts on strong sales of toys like Barbie dolls and Hot Wheels cars.</p><p><blockquote><b>美泰(MAT)</b>–该玩具制造商公布最新季度销售额较去年同期增长47%，创历史新高，其股价在盘前上涨6.8%。美泰公布的亏损远小于预期，但由于芭比娃娃和风火轮汽车等玩具的强劲销售，收入超出了预期。</blockquote></p><p> <b>Seagate Technology&nbsp;(STX) </b>– The hard disk drive maker’s shares slipped 2% in the premarket despite better-than-expected profit and revenue for its latest quarter. Seagate forecast slightly better-than-expected profit for the full year, with its revenue projection roughly in line with Wall Street forecasts.</p><p><blockquote><b>希捷科技(STX)</b>-尽管最近一个季度的利润和收入好于预期，但这家硬盘驱动器制造商的股价在盘前下跌了2%。希捷预测全年利润略好于预期，其收入预测与华尔街预测大致一致。</blockquote></p><p> <b>Skillz&nbsp;(SKLZ) </b>– The esports platform surged 10.1% in premarket trading following news that Cathie Wood’s ARK funds bought another 1.2 million shares following a 5 million share purchase on Wednesday.</p><p><blockquote><b>Skillz(SKLZ)</b>–Cathie Wood的ARK基金继周三购买500万股后又购买了120万股，该电子竞技平台在盘前交易中飙升10.1%。</blockquote></p><p> <b>Skechers&nbsp;(SKX) </b>– The footwear maker beat estimates on the top and bottom lines for its latest quarter, boosted by strong overseas demand for its shoes. Skechers shares soared 10.4% in premarket action.</p><p><blockquote><b>斯凯奇(SKX)</b>-由于海外对其鞋子的强劲需求，该鞋类制造商最近一个季度的营收和利润超出了预期。斯凯奇股价在盘前上涨10.4%。</blockquote></p><p> <b>World Wrestling Entertainment&nbsp;(WWE) </b>– The media and entertainment company’s shares rose 2.9% in premarket action after it reported better-than-expected profit and revenue for the first quarter. Profit fell from a year ago, however, reflecting a decline in live events due to the pandemic.</p><p><blockquote><b>世界摔跤娱乐公司</b>-这家媒体和娱乐公司公布第一季度利润和收入好于预期后，其股价在盘前上涨2.9%。然而，利润较一年前有所下降，反映出现场活动因疫情而减少。</blockquote></p><p></p><p> <b>Skyworks Solutions&nbsp;(SWKS)</b> – The chipmaker is buying the infrastructure and automotive business of&nbsp;Silicon Labs&nbsp;(SLAB) for $2.75 billion in cash. The deal will help Skyworks expand into new markets like electric vehicles and 5G technology. Skyworks rose 4.1% in the premarket, while Silicon Labs rallied 12.3% after saying it would return $2 billion of the deal’s proceeds to shareholders.</p><p><blockquote><b>Skyworks解决方案(SWKS)</b>–该芯片制造商将以27.5亿美元现金收购Silicon Labs(SLAB)的基础设施和汽车业务。这笔交易将帮助Skyworks扩展到电动汽车和5G技术等新市场。Skyworks盘前上涨4.1%，而Silicon Labs在表示将向股东返还20亿美元交易收益后上涨12.3%。</blockquote></p><p> <b>Harley-Davidson&nbsp;</b><b>(HOG) </b>– The motorcycle maker’s stock fell 2.6% in the premarket after Morgan Stanley downgraded it to “underweight” from “equal-weight.” The stock rallied after strong first-quarter earnings, but Morgan Stanley said recent positive dynamics are now priced in and that investors are underappreciating the challenges that lie ahead.</p><p><blockquote><b>哈雷-戴维森</b><b>（猪）</b>-摩根斯坦利将摩根斯坦利评级从“等权重”下调至“跑输大盘”后，该摩托车制造商的股价在盘前下跌2.6%。该股在第一季度强劲盈利后上涨，但摩根士丹利表示，最近的积极动态现已被消化，投资者低估了未来的挑战。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</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\">2021-04-23 20:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>U.S. Futures Rise After Stocks Bruised by Tax Plan</li> </ul> <ul>  <li>U.S. dollar and Treasuries weaken; oil pares weekly loss</li> </ul> U.S. stock index futures edged higher on Friday as investors awaited business activity data to gauge the pace of economic recovery, a day after reports that President Joe Biden planned to almost double the capital gains tax spooked markets.</p><p><blockquote><ul><li>股市受到税收计划重创后美国期货上涨</li></ul><ul><li>美元和美国国债走弱；油价收窄周跌幅</li></ul>美国股指期货周五小幅走高，因投资者等待商业活动数据以衡量经济复苏步伐，此前一天，有报道称总统乔·拜登计划将资本利得税提高近一倍，令市场感到恐慌。</blockquote></p><p> At 08:05 a.m. ET, Dow e-minis were up 8 points, or 0.02%, S&amp;P 500 e-minis were up 6.5 points, or 0.16%, and Nasdaq 100 e-minis were up 19.5 points, or 0.14%.</p><p><blockquote>截至美国东部时间上午08:05，道指e-minis上涨8点，涨幅0.02%，标普500 e-minis上涨6.5点，涨幅0.16%，纳斯达克100 e-minis上涨19.5点，涨幅0.14%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0479e3eceac0801a6343fe6821a592ef\" tg-width=\"1080\" tg-height=\"391\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> Cryptocurrency and blockchain-related stocks including Riot Blockchain&nbsp;and Marathon Digital&nbsp;tumbled after bitcoin suffered hefty losses on fears plans to raise capital gains taxes would curb investment in digital assets.</p><p><blockquote>由于担心提高资本利得税的计划将抑制对数字资产的投资，比特币遭受重创，包括Riot Blockchain和Marathon Digital在内的加密货币和区块链相关股票暴跌。</blockquote></p><p> IHS Markit's flash reading at 9:45 a.m ET is likely to show business activity in the manufacturing and services sectors improved in April from the prior month.</p><p><blockquote>IHS Markit美国东部时间上午9:45的快速读数可能显示4月份制造业和服务业的商业活动较上月有所改善。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Intel&nbsp;</b><b>(INTC)</b> – Intel fell 2.5% in premarket trading despite&nbsp;beating estimates on both the top and bottom lines&nbsp;for the first quarter. Investors are focusing on a lighter than expected full-year sales forecast, even though the chipmaker raised that outlook from its prior guidance.</p><p><blockquote><b>英特尔</b><b>(INTC)</b>-尽管第一季度的营收和利润均超出预期，但英特尔在盘前交易中仍下跌2.5%。投资者关注的是低于预期的全年销售预测，尽管这家芯片制造商从之前的指引上调了这一前景。</blockquote></p><p> <b>Snap&nbsp;</b><b>(SNAP) </b>– The parent of Snapchat&nbsp;reported a breakeven quarter, compared to consensus forecasts for a 6 cents per share loss. Revenue also beat estimates, as did user growth for Snapchat, and the stock rallied 4.6% in the premarket.</p><p><blockquote><b>Snap</b><b>（SNAP）</b>-Snapchat母公司报告季度实现盈亏平衡，而市场普遍预测每股亏损6美分。Snapchat的收入和用户增长也超出了预期，该股盘前上涨4.6%。</blockquote></p><p> <b>American Express&nbsp;(AXP) </b>– American Express reported first-quarter profit of $2.74 per share, beating the consensus estimate of $1.61 a share. The financial services company’s revenue came in slightly short of forecasts. The bottom line was helped by $1.05 billion in credit reserve releases as the macroeconomic environment improved. American Express shares fell 3.5% in premarket trading.</p><p><blockquote><b>美国运通(AXP)</b>-美国运通公布第一季度每股盈利2.74美元，超出市场普遍预期的每股1.61美元。这家金融服务公司的收入略低于预期。随着宏观经济环境的改善，10.5亿美元的信贷准备金释放有助于盈利。美国运通股价在盘前交易中下跌3.5%。</blockquote></p><p> <b>Honeywell&nbsp;(HON) </b>– The industrial conglomerate beat estimates by 12 cents a share, with quarterly earnings of $1.92 per share. Revenue beat estimates as well. Sales for Honeywell’s aerospace segment declined, but it saw strength in its safety and productivity business. Honeywell shares slid 1.2% in the premarket.</p><p><blockquote><b>霍尼韦尔(HON)</b>–该工业集团每股收益超出预期12美分，季度收益为每股1.92美元。收入也超出预期。霍尼韦尔航空航天部门的销售额下降，但其安全和生产力业务表现强劲。霍尼韦尔股价盘前下跌1.2%。</blockquote></p><p> <b>Schlumberger&nbsp;(SLB)</b> – The oilfield services company’s shares rose 1.4% in the premarket after it reported better-than-expected profit and revenue on improved international drilling activity. That follows upbeat reports earlier this week from rivals&nbsp;Halliburton&nbsp;(HAL) and&nbsp;Baker Hughes&nbsp;(BKR).</p><p><blockquote><b>斯伦贝谢(SLB)</b>-该油田服务公司股价盘前上涨1.4%，此前该公司报告称，由于国际钻探活动改善，利润和收入好于预期。此前，竞争对手哈里伯顿(HAL)和贝克休斯(BKR)本周早些时候发布了乐观报告。</blockquote></p><p> <b>Kimberly-Clark&nbsp;(KMB)</b> – The consumer products company’s stock dropped 3.3% in premarket action after it reported weaker-than-expected profit and sales for its latest quarter and gave a full-year forecast that came in below Wall Street consensus. Kimberly-Clark said it faced a number of challenges during the quarter, including supply chain issues and difficult comparisons to a year ago when consumers stocked up on items as the pandemic began.</p><p><blockquote><b>金佰利(KMB)</b>-这家消费品公司公布最近一个季度的利润和销售额弱于预期，并给出的全年预测低于华尔街共识，该公司股价在盘前下跌3.3%。金佰利表示，该季度面临许多挑战，包括供应链问题以及与一年前相比的困难，当时消费者在大流行开始时囤积商品。</blockquote></p><p> <b>Boston Beer&nbsp;(SAM) </b>– The Sam Adams brewer surged 7.6% in premarket action after beating top and bottom line estimates by a wide margin for its latest quarter. Boston Beer’s results were helped by a jump in sales for its Truly hard seltzer brand.</p><p><blockquote><b>波士顿啤酒（SAM）</b>-这家Sam Adams啤酒制造商在最近一个季度的营收和利润大幅超出预期后，在盘前股价飙升7.6%。波士顿啤酒的业绩得益于其Truly hard seltzer品牌销售额的增长。</blockquote></p><p> <b>Mattel&nbsp;(MAT)</b> – The toy maker’s shares rallied 6.8% in premarket action after it&nbsp;reported record 47% sales growth&nbsp;for its latest quarter compared to a year ago. Mattel reported a much smaller-than-expected loss, but revenue beat forecasts on strong sales of toys like Barbie dolls and Hot Wheels cars.</p><p><blockquote><b>美泰(MAT)</b>–该玩具制造商公布最新季度销售额较去年同期增长47%，创历史新高，其股价在盘前上涨6.8%。美泰公布的亏损远小于预期，但由于芭比娃娃和风火轮汽车等玩具的强劲销售，收入超出了预期。</blockquote></p><p> <b>Seagate Technology&nbsp;(STX) </b>– The hard disk drive maker’s shares slipped 2% in the premarket despite better-than-expected profit and revenue for its latest quarter. Seagate forecast slightly better-than-expected profit for the full year, with its revenue projection roughly in line with Wall Street forecasts.</p><p><blockquote><b>希捷科技(STX)</b>-尽管最近一个季度的利润和收入好于预期，但这家硬盘驱动器制造商的股价在盘前下跌了2%。希捷预测全年利润略好于预期，其收入预测与华尔街预测大致一致。</blockquote></p><p> <b>Skillz&nbsp;(SKLZ) </b>– The esports platform surged 10.1% in premarket trading following news that Cathie Wood’s ARK funds bought another 1.2 million shares following a 5 million share purchase on Wednesday.</p><p><blockquote><b>Skillz(SKLZ)</b>–Cathie Wood的ARK基金继周三购买500万股后又购买了120万股，该电子竞技平台在盘前交易中飙升10.1%。</blockquote></p><p> <b>Skechers&nbsp;(SKX) </b>– The footwear maker beat estimates on the top and bottom lines for its latest quarter, boosted by strong overseas demand for its shoes. Skechers shares soared 10.4% in premarket action.</p><p><blockquote><b>斯凯奇(SKX)</b>-由于海外对其鞋子的强劲需求，该鞋类制造商最近一个季度的营收和利润超出了预期。斯凯奇股价在盘前上涨10.4%。</blockquote></p><p> <b>World Wrestling Entertainment&nbsp;(WWE) </b>– The media and entertainment company’s shares rose 2.9% in premarket action after it reported better-than-expected profit and revenue for the first quarter. Profit fell from a year ago, however, reflecting a decline in live events due to the pandemic.</p><p><blockquote><b>世界摔跤娱乐公司</b>-这家媒体和娱乐公司公布第一季度利润和收入好于预期后，其股价在盘前上涨2.9%。然而，利润较一年前有所下降，反映出现场活动因疫情而减少。</blockquote></p><p></p><p> <b>Skyworks Solutions&nbsp;(SWKS)</b> – The chipmaker is buying the infrastructure and automotive business of&nbsp;Silicon Labs&nbsp;(SLAB) for $2.75 billion in cash. The deal will help Skyworks expand into new markets like electric vehicles and 5G technology. Skyworks rose 4.1% in the premarket, while Silicon Labs rallied 12.3% after saying it would return $2 billion of the deal’s proceeds to shareholders.</p><p><blockquote><b>Skyworks解决方案(SWKS)</b>–该芯片制造商将以27.5亿美元现金收购Silicon Labs(SLAB)的基础设施和汽车业务。这笔交易将帮助Skyworks扩展到电动汽车和5G技术等新市场。Skyworks盘前上涨4.1%，而Silicon Labs在表示将向股东返还20亿美元交易收益后上涨12.3%。</blockquote></p><p> <b>Harley-Davidson&nbsp;</b><b>(HOG) </b>– The motorcycle maker’s stock fell 2.6% in the premarket after Morgan Stanley downgraded it to “underweight” from “equal-weight.” The stock rallied after strong first-quarter earnings, but Morgan Stanley said recent positive dynamics are now priced in and that investors are underappreciating the challenges that lie ahead.</p><p><blockquote><b>哈雷-戴维森</b><b>（猪）</b>-摩根斯坦利将摩根斯坦利评级从“等权重”下调至“跑输大盘”后，该摩托车制造商的股价在盘前下跌2.6%。该股在第一季度强劲盈利后上涨，但摩根士丹利表示，最近的积极动态现已被消化，投资者低估了未来的挑战。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNAP":"Snap Inc",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","INTC":"英特尔"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116132782","content_text":"U.S. Futures Rise After Stocks Bruised by Tax Plan\n\n\nU.S. dollar and Treasuries weaken; oil pares weekly loss\n\nU.S. stock index futures edged higher on Friday as investors awaited business activity data to gauge the pace of economic recovery, a day after reports that President Joe Biden planned to almost double the capital gains tax spooked markets.\nAt 08:05 a.m. ET, Dow e-minis were up 8 points, or 0.02%, S&P 500 e-minis were up 6.5 points, or 0.16%, and Nasdaq 100 e-minis were up 19.5 points, or 0.14%.\n*Source From Tiger Trade, EST 08:05\nCryptocurrency and blockchain-related stocks including Riot Blockchain and Marathon Digital tumbled after bitcoin suffered hefty losses on fears plans to raise capital gains taxes would curb investment in digital assets.\nIHS Markit's flash reading at 9:45 a.m ET is likely to show business activity in the manufacturing and services sectors improved in April from the prior month.\nStocks making the biggest moves in the premarket:\nIntel (INTC) – Intel fell 2.5% in premarket trading despite beating estimates on both the top and bottom lines for the first quarter. Investors are focusing on a lighter than expected full-year sales forecast, even though the chipmaker raised that outlook from its prior guidance.\nSnap (SNAP) – The parent of Snapchat reported a breakeven quarter, compared to consensus forecasts for a 6 cents per share loss. Revenue also beat estimates, as did user growth for Snapchat, and the stock rallied 4.6% in the premarket.\nAmerican Express (AXP) – American Express reported first-quarter profit of $2.74 per share, beating the consensus estimate of $1.61 a share. The financial services company’s revenue came in slightly short of forecasts. The bottom line was helped by $1.05 billion in credit reserve releases as the macroeconomic environment improved. American Express shares fell 3.5% in premarket trading.\nHoneywell (HON) – The industrial conglomerate beat estimates by 12 cents a share, with quarterly earnings of $1.92 per share. Revenue beat estimates as well. Sales for Honeywell’s aerospace segment declined, but it saw strength in its safety and productivity business. Honeywell shares slid 1.2% in the premarket.\nSchlumberger (SLB) – The oilfield services company’s shares rose 1.4% in the premarket after it reported better-than-expected profit and revenue on improved international drilling activity. That follows upbeat reports earlier this week from rivals Halliburton (HAL) and Baker Hughes (BKR).\nKimberly-Clark (KMB) – The consumer products company’s stock dropped 3.3% in premarket action after it reported weaker-than-expected profit and sales for its latest quarter and gave a full-year forecast that came in below Wall Street consensus. Kimberly-Clark said it faced a number of challenges during the quarter, including supply chain issues and difficult comparisons to a year ago when consumers stocked up on items as the pandemic began.\nBoston Beer (SAM) – The Sam Adams brewer surged 7.6% in premarket action after beating top and bottom line estimates by a wide margin for its latest quarter. Boston Beer’s results were helped by a jump in sales for its Truly hard seltzer brand.\nMattel (MAT) – The toy maker’s shares rallied 6.8% in premarket action after it reported record 47% sales growth for its latest quarter compared to a year ago. Mattel reported a much smaller-than-expected loss, but revenue beat forecasts on strong sales of toys like Barbie dolls and Hot Wheels cars.\nSeagate Technology (STX) – The hard disk drive maker’s shares slipped 2% in the premarket despite better-than-expected profit and revenue for its latest quarter. Seagate forecast slightly better-than-expected profit for the full year, with its revenue projection roughly in line with Wall Street forecasts.\nSkillz (SKLZ) – The esports platform surged 10.1% in premarket trading following news that Cathie Wood’s ARK funds bought another 1.2 million shares following a 5 million share purchase on Wednesday.\nSkechers (SKX) – The footwear maker beat estimates on the top and bottom lines for its latest quarter, boosted by strong overseas demand for its shoes. Skechers shares soared 10.4% in premarket action.\nWorld Wrestling Entertainment (WWE) – The media and entertainment company’s shares rose 2.9% in premarket action after it reported better-than-expected profit and revenue for the first quarter. Profit fell from a year ago, however, reflecting a decline in live events due to the pandemic.\nSkyworks Solutions (SWKS) – The chipmaker is buying the infrastructure and automotive business of Silicon Labs (SLAB) for $2.75 billion in cash. 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sure if this helps","listText":"Not sure if this helps","text":"Not sure if this helps","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/195969036","repostId":"1197978343","repostType":4,"isVote":1,"tweetType":1,"viewCount":1012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347841475,"gmtCreate":1618488907797,"gmtModify":1634292610491,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good to go","listText":"Good to go","text":"Good to go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/347841475","repostId":"1128319234","repostType":4,"repost":{"id":"1128319234","kind":"news","pubTimestamp":1618486201,"share":"https://www.laohu8.com/m/news/1128319234?lang=zh_CN&edition=full","pubTime":"2021-04-15 19:30","market":"us","language":"en","title":"Wall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128319234","media":"seekingalpha","summary":"Retail reboundThe market will get some insight into how much the consumer is participating in the ec","content":"<p><b>Retail rebound</b></p><p><blockquote><b>零售反弹</b></blockquote></p><p>The market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&amp;P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.</p><p><blockquote>通过今天最新的零售销售数据，市场将深入了解消费者对经济复苏的参与程度。标准普尔期货（SPX）、纳斯达克期货（NDX：IND）和道指期货（INDU）均呈绿色。</blockquote></p><p>The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.</p><p><blockquote>商务部将于美国东部时间上午8:30发布3月份零售销售数据。平均而言，经济学家预计销售额将强劲反弹，销售额将增长5.9%，而2月份则下降了3%。不包括汽车在内的核心零售额预计将增长5%，扭转上个月2.7%的降幅。自去年实施封锁措施以来，零售额在短短四个月内就实现了增长，最近一次是1月份增长了5.3%。</blockquote></p><p>If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.</p><p><blockquote>如果销售额按预期增长，这将是一个很好的迹象，表明最新一轮1400美元的直接支票正在进入经济，提供白宫打算的刺激措施。错过可能表明资金被转移到其他途径，例如储蓄或资产购买。纽约联储上周表示，每一美元的刺激资金中有42美分被节省下来，而25%的资金被支出，其余的用于偿还债务。</blockquote></p><p>Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&amp;P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.</p><p><blockquote>通货再膨胀交易：对于股市来说，强劲的零售销售数据可能会启动有利于周期性股票的通货再膨胀交易，而周期性股票最近已经失去了动力。尽管发生了一系列影响市场的事件，但标准普尔指数（NYSEARCA：SPDR标普500指数ETF）仍难以在两个方向上获得牵引力，本周下跌0.1%。</blockquote></p><p>“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.</p><p><blockquote>瑞银全球财富管理首席信息官马克·海菲尔表示：“通货再膨胀交易一直在放春假。”据彭博社报道，他补充道，随着疫苗接种的推出和经济的复苏，“我们认为投资者应该继续为通货再膨胀做好准备”。金融股（NYSEARCA：XLF）、工业股（NYSEARCA：XLI）和能源股（NYSEARCA：XLE）可能会跑赢大盘。</blockquote></p><p>Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.</p><p><blockquote>巴克莱策略师Emmanuel Cau表示，价值作为对冲过热的手段具有吸引力，但他对休闲、食品零售和汽车不太乐观。</blockquote></p><p>Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.</p><p><blockquote>经济加速，但仍然温和：美联储昨天发布的褐皮书称，美国经济正在以温和的速度加速，而一些受疫情打击最严重的行业正显示出复苏的迹象。</blockquote></p><p>\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.</p><p><blockquote>报告称：“旅游业报告更加乐观，这得益于春假、疫情相关限制放松、疫苗接种增加以及最近的刺激付款等因素对休闲活动和旅行需求的回升。”</blockquote></p><p>Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"</p><p><blockquote>DataTrek Research写道，经济增长和消费者支出“在过去6周内加速，被压抑的休闲活动和旅行需求开始实现”。“通胀加剧，企业同时面临劳动力短缺和供应链中断。最终，我们继续同意美联储的观点，即近期通胀是暂时性的，而不是结构性的，因此我们认为鲍威尔主席不会将这些通胀压力视为一个重大危险信号。”</blockquote></p><p>\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"</p><p><blockquote>DataTrek补充道：“此外，最新的美联储褐皮书报告继续显示雇主在让工人重返劳动力市场方面面临的挑战。”“随着疫苗的推出和儿童保育变得更加容易，这需要时间，这些因素超出了鲍威尔主席的控制范围。这就是为什么他和美联储继续暗示至少在2022年之前将利率维持在接近零的水平，以让经济足够热以实现他们的双重使命。”</blockquote></p><p><b>ARK Invest snaps up Coinbase</b></p><p><blockquote><b>ARK Invest抢购Coinbase</b></blockquote></p><p>ARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.</p><p><blockquote>ARK Investment Management为三只不同的基金购买了新上市的Coinbase Global（纳斯达克：COIN）的股票，同时出售了其持有的部分特斯拉（纳斯达克：TSLA）股份。</blockquote></p><p>Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.</p><p><blockquote>Cathie Wood为ARK Fintech Innovation ETF（NYSEARCA：ARKF）购买了89,589股Coinbase股票。她为旗舰ARK Innovation ETF（NYSEARCA：ARKK）购买了512,535股加密货币交易平台股票。她还向ARK下一代互联网ETF（NYSEARCA：ARKW）添加了147,081股COIN股票。这相当于价值约2.46亿美元的Coinbase股票。</blockquote></p><p>\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.</p><p><blockquote>伍德告诉彭博社：“从现在到五年后，逢低买入（Coinbase）将会有很好的机会。”ARK认为机构兴趣可能会使比特币（BTC-USD）的价格增加50万美元。ARK从ARKK出售了185,712股特斯拉股票，从ARKW出售了57,043股该汽车制造商股票。特斯拉是ARKW和ARKK的最大持股。Coinbase昨天首次亮相就上涨了30%，但收盘时较当天开盘下跌。</blockquote></p><p><b>SpaceX valued at $74B</b></p><p><blockquote><b>SpaceX估值$74B</b></blockquote></p><p>SpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.</p><p><blockquote>根据美国证券交易委员会(SEC)提交的文件，SpaceX(SPACE)增加了上次股权融资的规模。该公司在之前报告的8.5亿美元的基础上又带来了3.14亿美元。新的1.16 B美元的股权融资总额使SpaceX的估值约为740亿美元。</blockquote></p><p></p><p>Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.</p><p><blockquote>SpaceX的投资者可能会从Starlink(STRLK)互联网卫星业务中寻求回报。有人猜测Starlink将在某个时候通过IPO获得自由。看看SpaceX的发射计划，最早计划在2022年进行月球之旅，猎鹰9号火箭将代表阿拉伯联合酋长国运送一辆探索漫游车。</blockquote></p><p><b>Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.</b></p><p><blockquote><b>据称，自动驾驶卡车初创公司TuSimple已通过IPO筹集了1.35 B美元。</b></blockquote></p><p>Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.</p><p><blockquote>据称，自动驾驶卡车初创公司TuSimple(TSP)在IPO中筹集了1.35 B美元，股价为40美元，高于之前的区间。据彭博社报道，图森未来和一名售股股东以每股40美元的价格出售了3400万股股票，高于35-39美元的预估价格。</blockquote></p><p>The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).</p><p><blockquote>该公司得到了战略投资者的支持，包括大众汽车公司（OTCPK：VLKAF）的重型卡车业务Traton Group、Navistar（纽约证券交易所：NAV）、固特异（纳斯达克：GT）、U.S.Xpress（纽约证券交易所：USX）、NVIDIA（纳斯达克：NVDA）和联合包裹服务公司（纽约证券交易所：UPS）。</blockquote></p><p><b>Lucid Motors says its new electric vehicle is ready for the cold stuff</b></p><p><blockquote><b>Lucid Motors表示其新型电动汽车已做好应对寒冷天气的准备</b></blockquote></p><p>Lucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.</p><p><blockquote>Lucid Motors(LUCIDM)更新了Lucid Air在-40摄氏度下进行的寒冷天气测试。</blockquote></p><p>\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"</p><p><blockquote>“Lucid Air达到了所有寒冷天气测试目标，从快速预热到启动、充电等。尽管气温很低，但机舱的安静度还是很显著的。通常情况下，随着温度的下降，车辆的内部部件会变得更加嘈杂。不是Lucid Air。它的NVH方面——或噪音、振动和声振粗糙度——测试得非常好。对于豪华车车主来说，这是一个至关重要的结果。”</blockquote></p><p><b>What else is happening...</b></p><p><blockquote><b>还发生了什么...</b></blockquote></p><p>Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.</p><p><blockquote>台积电(NYSE：TSM)每股收益超过预期0.04美元，营收超出预期。Shopify(NYSE：SHOP)在增长推动下失去了一些关键高管。比特币(BTC-USD)徘徊在历史新高附近。石油(CL1：COM)触及3月中旬以来的最高水平强劲的需求前景。高盛表示，由于绿色转型，铜(HG1：COM)将在2025年达到15,000美元/吨。阿斯利康(纳斯达克：AZN)的COVID-19疫苗在印度研究中击败了Ocugen的Covaxinin。</blockquote></p><p><b>Today's Markets</b></p><p><blockquote><b>今日市场</b></blockquote></p><p><b>In Asia,</b>Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.</p><p><blockquote><b>在亚洲，</b>日本+0.1%。香港-0.4%。中国-0.5%。印度+0.6%。</blockquote></p><p><b>In Europe,</b>at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.</p><p><blockquote><b>在欧洲，</b>午盘，伦敦+0.4%。巴黎+0.3%。法兰克福+0.3%。</blockquote></p><p><b>Futures at 6:20,</b>Dow+0.4%. S&amp;P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.</p><p><blockquote><b>6点20分期货，</b>道指+0.4%。标准普尔+0.4%。纳斯达克+0.5%。原油-0.7%至62.70美元。黄金上涨0.6%，至1747.60美元。比特币-2%至62311美元。</blockquote></p><p><b>Ten-year Treasury Yield</b>-2 bps to1.615%</p><p><blockquote><b>十年期国债收益率</b>-2个基点至1.615%</blockquote></p><p><b>Today's Economic Calendar</b></p><p><blockquote><b>今日经济日历</b></blockquote></p><p>8:30&nbsp;Initial Jobless Claims</p><p><blockquote>8:30首次申请失业救济人数</blockquote></p><p>8:30&nbsp;Philly Fed Business Outlook</p><p><blockquote>8:30费城联储商业展望</blockquote></p><p>8:30&nbsp;Retail Sales</p><p><blockquote>8:30零售额</blockquote></p><p>8:30&nbsp;Empire State Mfg Survey</p><p><blockquote>8:30帝国大厦制造业调查</blockquote></p><p>9:15&nbsp;Industrial Production</p><p><blockquote>9:15工业生产</blockquote></p><p>10:00&nbsp;Business Inventories</p><p><blockquote>10:00业务库存</blockquote></p><p>10:00&nbsp;NAHB Housing Market Index</p><p><blockquote>10:00 NAHB房地产市场指数</blockquote></p><p>10:30&nbsp;EIA Natural Gas Inventory</p><p><blockquote>10:30 EIA天然气库存</blockquote></p><p>11:30&nbsp;Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"</p><p><blockquote>11:30美联储博斯蒂克：《大西洋月刊进展报告：黑人社区状况》</blockquote></p><p>2:00 PMFed’s Daly Speech</p><p><blockquote>下午2:00美联储戴利演讲</blockquote></p><p>4:00 PMFed’s Mester: \"Economic Inclusion\"</p><p><blockquote>下午4:00美联储梅斯特：“经济包容性”</blockquote></p><p>4:00 PMTreasury International Capital</p><p><blockquote>下午4:00财资国际资本</blockquote></p><p>4:30 PMFed Balance Sheet</p><p><blockquote>下午4:30美联储资产负债表</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>Wall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</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\">\nWall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-15 19:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Retail rebound</b></p><p><blockquote><b>零售反弹</b></blockquote></p><p>The market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&amp;P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.</p><p><blockquote>通过今天最新的零售销售数据，市场将深入了解消费者对经济复苏的参与程度。标准普尔期货（SPX）、纳斯达克期货（NDX：IND）和道指期货（INDU）均呈绿色。</blockquote></p><p>The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.</p><p><blockquote>商务部将于美国东部时间上午8:30发布3月份零售销售数据。平均而言，经济学家预计销售额将强劲反弹，销售额将增长5.9%，而2月份则下降了3%。不包括汽车在内的核心零售额预计将增长5%，扭转上个月2.7%的降幅。自去年实施封锁措施以来，零售额在短短四个月内就实现了增长，最近一次是1月份增长了5.3%。</blockquote></p><p>If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.</p><p><blockquote>如果销售额按预期增长，这将是一个很好的迹象，表明最新一轮1400美元的直接支票正在进入经济，提供白宫打算的刺激措施。错过可能表明资金被转移到其他途径，例如储蓄或资产购买。纽约联储上周表示，每一美元的刺激资金中有42美分被节省下来，而25%的资金被支出，其余的用于偿还债务。</blockquote></p><p>Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&amp;P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.</p><p><blockquote>通货再膨胀交易：对于股市来说，强劲的零售销售数据可能会启动有利于周期性股票的通货再膨胀交易，而周期性股票最近已经失去了动力。尽管发生了一系列影响市场的事件，但标准普尔指数（NYSEARCA：SPDR标普500指数ETF）仍难以在两个方向上获得牵引力，本周下跌0.1%。</blockquote></p><p>“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.</p><p><blockquote>瑞银全球财富管理首席信息官马克·海菲尔表示：“通货再膨胀交易一直在放春假。”据彭博社报道，他补充道，随着疫苗接种的推出和经济的复苏，“我们认为投资者应该继续为通货再膨胀做好准备”。金融股（NYSEARCA：XLF）、工业股（NYSEARCA：XLI）和能源股（NYSEARCA：XLE）可能会跑赢大盘。</blockquote></p><p>Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.</p><p><blockquote>巴克莱策略师Emmanuel Cau表示，价值作为对冲过热的手段具有吸引力，但他对休闲、食品零售和汽车不太乐观。</blockquote></p><p>Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.</p><p><blockquote>经济加速，但仍然温和：美联储昨天发布的褐皮书称，美国经济正在以温和的速度加速，而一些受疫情打击最严重的行业正显示出复苏的迹象。</blockquote></p><p>\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.</p><p><blockquote>报告称：“旅游业报告更加乐观，这得益于春假、疫情相关限制放松、疫苗接种增加以及最近的刺激付款等因素对休闲活动和旅行需求的回升。”</blockquote></p><p>Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"</p><p><blockquote>DataTrek Research写道，经济增长和消费者支出“在过去6周内加速，被压抑的休闲活动和旅行需求开始实现”。“通胀加剧，企业同时面临劳动力短缺和供应链中断。最终，我们继续同意美联储的观点，即近期通胀是暂时性的，而不是结构性的，因此我们认为鲍威尔主席不会将这些通胀压力视为一个重大危险信号。”</blockquote></p><p>\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"</p><p><blockquote>DataTrek补充道：“此外，最新的美联储褐皮书报告继续显示雇主在让工人重返劳动力市场方面面临的挑战。”“随着疫苗的推出和儿童保育变得更加容易，这需要时间，这些因素超出了鲍威尔主席的控制范围。这就是为什么他和美联储继续暗示至少在2022年之前将利率维持在接近零的水平，以让经济足够热以实现他们的双重使命。”</blockquote></p><p><b>ARK Invest snaps up Coinbase</b></p><p><blockquote><b>ARK Invest抢购Coinbase</b></blockquote></p><p>ARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.</p><p><blockquote>ARK Investment Management为三只不同的基金购买了新上市的Coinbase Global（纳斯达克：COIN）的股票，同时出售了其持有的部分特斯拉（纳斯达克：TSLA）股份。</blockquote></p><p>Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.</p><p><blockquote>Cathie Wood为ARK Fintech Innovation ETF（NYSEARCA：ARKF）购买了89,589股Coinbase股票。她为旗舰ARK Innovation ETF（NYSEARCA：ARKK）购买了512,535股加密货币交易平台股票。她还向ARK下一代互联网ETF（NYSEARCA：ARKW）添加了147,081股COIN股票。这相当于价值约2.46亿美元的Coinbase股票。</blockquote></p><p>\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.</p><p><blockquote>伍德告诉彭博社：“从现在到五年后，逢低买入（Coinbase）将会有很好的机会。”ARK认为机构兴趣可能会使比特币（BTC-USD）的价格增加50万美元。ARK从ARKK出售了185,712股特斯拉股票，从ARKW出售了57,043股该汽车制造商股票。特斯拉是ARKW和ARKK的最大持股。Coinbase昨天首次亮相就上涨了30%，但收盘时较当天开盘下跌。</blockquote></p><p><b>SpaceX valued at $74B</b></p><p><blockquote><b>SpaceX估值$74B</b></blockquote></p><p>SpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.</p><p><blockquote>根据美国证券交易委员会(SEC)提交的文件，SpaceX(SPACE)增加了上次股权融资的规模。该公司在之前报告的8.5亿美元的基础上又带来了3.14亿美元。新的1.16 B美元的股权融资总额使SpaceX的估值约为740亿美元。</blockquote></p><p></p><p>Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.</p><p><blockquote>SpaceX的投资者可能会从Starlink(STRLK)互联网卫星业务中寻求回报。有人猜测Starlink将在某个时候通过IPO获得自由。看看SpaceX的发射计划，最早计划在2022年进行月球之旅，猎鹰9号火箭将代表阿拉伯联合酋长国运送一辆探索漫游车。</blockquote></p><p><b>Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.</b></p><p><blockquote><b>据称，自动驾驶卡车初创公司TuSimple已通过IPO筹集了1.35 B美元。</b></blockquote></p><p>Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.</p><p><blockquote>据称，自动驾驶卡车初创公司TuSimple(TSP)在IPO中筹集了1.35 B美元，股价为40美元，高于之前的区间。据彭博社报道，图森未来和一名售股股东以每股40美元的价格出售了3400万股股票，高于35-39美元的预估价格。</blockquote></p><p>The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).</p><p><blockquote>该公司得到了战略投资者的支持，包括大众汽车公司（OTCPK：VLKAF）的重型卡车业务Traton Group、Navistar（纽约证券交易所：NAV）、固特异（纳斯达克：GT）、U.S.Xpress（纽约证券交易所：USX）、NVIDIA（纳斯达克：NVDA）和联合包裹服务公司（纽约证券交易所：UPS）。</blockquote></p><p><b>Lucid Motors says its new electric vehicle is ready for the cold stuff</b></p><p><blockquote><b>Lucid Motors表示其新型电动汽车已做好应对寒冷天气的准备</b></blockquote></p><p>Lucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.</p><p><blockquote>Lucid Motors(LUCIDM)更新了Lucid Air在-40摄氏度下进行的寒冷天气测试。</blockquote></p><p>\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"</p><p><blockquote>“Lucid Air达到了所有寒冷天气测试目标，从快速预热到启动、充电等。尽管气温很低，但机舱的安静度还是很显著的。通常情况下，随着温度的下降，车辆的内部部件会变得更加嘈杂。不是Lucid Air。它的NVH方面——或噪音、振动和声振粗糙度——测试得非常好。对于豪华车车主来说，这是一个至关重要的结果。”</blockquote></p><p><b>What else is happening...</b></p><p><blockquote><b>还发生了什么...</b></blockquote></p><p>Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.</p><p><blockquote>台积电(NYSE：TSM)每股收益超过预期0.04美元，营收超出预期。Shopify(NYSE：SHOP)在增长推动下失去了一些关键高管。比特币(BTC-USD)徘徊在历史新高附近。石油(CL1：COM)触及3月中旬以来的最高水平强劲的需求前景。高盛表示，由于绿色转型，铜(HG1：COM)将在2025年达到15,000美元/吨。阿斯利康(纳斯达克：AZN)的COVID-19疫苗在印度研究中击败了Ocugen的Covaxinin。</blockquote></p><p><b>Today's Markets</b></p><p><blockquote><b>今日市场</b></blockquote></p><p><b>In Asia,</b>Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.</p><p><blockquote><b>在亚洲，</b>日本+0.1%。香港-0.4%。中国-0.5%。印度+0.6%。</blockquote></p><p><b>In Europe,</b>at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.</p><p><blockquote><b>在欧洲，</b>午盘，伦敦+0.4%。巴黎+0.3%。法兰克福+0.3%。</blockquote></p><p><b>Futures at 6:20,</b>Dow+0.4%. S&amp;P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.</p><p><blockquote><b>6点20分期货，</b>道指+0.4%。标准普尔+0.4%。纳斯达克+0.5%。原油-0.7%至62.70美元。黄金上涨0.6%，至1747.60美元。比特币-2%至62311美元。</blockquote></p><p><b>Ten-year Treasury Yield</b>-2 bps to1.615%</p><p><blockquote><b>十年期国债收益率</b>-2个基点至1.615%</blockquote></p><p><b>Today's Economic Calendar</b></p><p><blockquote><b>今日经济日历</b></blockquote></p><p>8:30&nbsp;Initial Jobless Claims</p><p><blockquote>8:30首次申请失业救济人数</blockquote></p><p>8:30&nbsp;Philly Fed Business Outlook</p><p><blockquote>8:30费城联储商业展望</blockquote></p><p>8:30&nbsp;Retail Sales</p><p><blockquote>8:30零售额</blockquote></p><p>8:30&nbsp;Empire State Mfg Survey</p><p><blockquote>8:30帝国大厦制造业调查</blockquote></p><p>9:15&nbsp;Industrial Production</p><p><blockquote>9:15工业生产</blockquote></p><p>10:00&nbsp;Business Inventories</p><p><blockquote>10:00业务库存</blockquote></p><p>10:00&nbsp;NAHB Housing Market Index</p><p><blockquote>10:00 NAHB房地产市场指数</blockquote></p><p>10:30&nbsp;EIA Natural Gas Inventory</p><p><blockquote>10:30 EIA天然气库存</blockquote></p><p>11:30&nbsp;Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"</p><p><blockquote>11:30美联储博斯蒂克：《大西洋月刊进展报告：黑人社区状况》</blockquote></p><p>2:00 PMFed’s Daly Speech</p><p><blockquote>下午2:00美联储戴利演讲</blockquote></p><p>4:00 PMFed’s Mester: \"Economic Inclusion\"</p><p><blockquote>下午4:00美联储梅斯特：“经济包容性”</blockquote></p><p>4:00 PMTreasury International Capital</p><p><blockquote>下午4:00财资国际资本</blockquote></p><p>4:30 PMFed Balance Sheet</p><p><blockquote>下午4:30美联储资产负债表</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4419172-wall-street-breakfast-retail-rebound\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://seekingalpha.com/article/4419172-wall-street-breakfast-retail-rebound","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128319234","content_text":"Retail reboundThe market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"ARK Invest snaps up CoinbaseARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.SpaceX valued at $74BSpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).Lucid Motors says its new electric vehicle is ready for the cold stuffLucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"What else is happening...Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.Today's MarketsIn Asia,Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.In Europe,at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.Futures at 6:20,Dow+0.4%. S&P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.Ten-year Treasury Yield-2 bps to1.615%Today's Economic Calendar8:30 Initial Jobless Claims8:30 Philly Fed Business Outlook8:30 Retail Sales8:30 Empire State Mfg Survey9:15 Industrial Production10:00 Business Inventories10:00 NAHB Housing Market Index10:30 EIA Natural Gas Inventory11:30 Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"2:00 PMFed’s Daly Speech4:00 PMFed’s Mester: \"Economic Inclusion\"4:00 PMTreasury International Capital4:30 PMFed Balance Sheet","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346342069,"gmtCreate":1618008445251,"gmtModify":1634295308648,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/346342069","repostId":"2126315033","repostType":4,"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352973421,"gmtCreate":1616887078663,"gmtModify":1634523684451,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/352973421","repostId":"2122847947","repostType":4,"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182883405,"gmtCreate":1623562641407,"gmtModify":1631891517997,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Will it last","listText":"Will it last","text":"Will it last","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/182883405","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://www.laohu8.com/m/news/1185020128?lang=zh_CN&edition=full","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线处于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>","source":"lsy1610449120050","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>Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</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\">\nMeme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-06-13 06:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线处于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">investors</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":{"PDCE":"PDC Energy","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"BBBY":0.9,"PDCE":0.9}},"isVote":1,"tweetType":1,"viewCount":1438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350237699,"gmtCreate":1616210165311,"gmtModify":1634526714743,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good for market","listText":"Good for market","text":"Good for market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/350237699","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?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":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190027838,"gmtCreate":1620557194924,"gmtModify":1631884479214,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"New interest","listText":"New interest","text":"New interest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190027838","repostId":"1147179681","repostType":4,"repost":{"id":"1147179681","kind":"news","pubTimestamp":1620458192,"share":"https://www.laohu8.com/m/news/1147179681?lang=zh_CN&edition=full","pubTime":"2021-05-08 15:16","market":"us","language":"en","title":"The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147179681","media":"Benzinga","summary":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, ","content":"<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</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 Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-05-08 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">Benzinga</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":{"JAZZ":"爵士制药","MSRT":"MassRoots, Inc.","SNDL":"SNDL Inc.","MJ":"Amplify Alternative Harvest ETF","GWPH":"GW Pharmaceuticals plc","YOLO":"AdvisorShares Pure Cannabis ETF","TCNNF":"Trulieve Cannabis Corporation","GTBIF":"Green Thumb Industries Inc.","JUSHF":"Jushi Holdings Inc.","APHA":"Aphria Inc.","THCX":"Innovation Shares Cannabis ETF","CNBS":"Amplify Seymour Cannabis ETF","SPY":"标普500ETF","TLRY":"Tilray Inc.","CNTMF":"FLUENT CORP","CNBX":"CNBX Pharmaceuticals Inc.","MSOS":"AdvisorShares Pure US Cannabis ETF","NGD":"New Gold"},"source_url":"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147179681","content_text":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion.Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.Jazz Pharmaceuticals(NASDAQ:JAZZ) finalized its acquisition of GW Pharmaceuticals plc.(NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma's cash.Meanwhile,Ascend Wellness Holdings(CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.After two weeks of consolidating below resistance at the $1 level, shares of Reddit favorite Sundial Growers Inc. have resumed their downtrend.Credit Suisse Group AG(NYSE:CS) reportedly stopped handling transactions in shares of cannabis companies with U.S. operations and plans to refrain from holding cannabis stocks on behalf of its clients.The Swiss-based lender, which declined to give a statement, was among a handful of banks willing to buy and sell marijuana-related stocks and hold the shares as a custodian for clients in the United States. While it's not yet clear what impact this decision will have, Reuters reported the move has affected the sale of marijuana stocks in recent weeks.In fact, all major ETFs were down. Over the five trading days of this week:TheETFMG Alternative Harvest ETF(NYSE:MJ): lost 0.2%.The$AdvisorShares Pure Cannabis ETF(YOLO)$(NYSE:YOLO): tumbled 1.8%.TheAdvisorShares Pure US Cannabis ETF(NYSE:MSOS): shed 0.2% of its value.TheCannabis ETF(NYSE:THCX): dropped 3.4%.TheAmplify Seymour Cannabis ETF(NYSE:CNBS): was down 3.5%.TheSPDR S&P 500 ETF Trust(NYSE:SPY) closed the week up 1.21%.Policy, Science And DataIn New York, people gathered to celebrate cannabis legalization.“Last weekend's annual New York City cannabis parade brought out a who's who in politicians jockeying for position to be the one who wasalwayssupportive of legalizing cannabis. Ah-hem. Water under the bridge shall we say,” commented Debra Borchardt, CEO ofGreen Market Report. “With adult use cannabis sales likely to be legal by next year's parade, the people who attended were clearly in a celebratory mood. The New York market is expected to be the largest in the country and there were many small businesses working the crowd. There should be a Tinder app for social equity applicants to hook up with investors as there was a lot of talk about social equity applicants, but most have no money or very little.”In ColoradoGov. Jared Polis signed a bill that would expand access to medical cannabis for school children in need by removing obstacles to its administration.Financings And M&AJushi Holdings Inc.(CSE:JUSH) (OTC:JUSHF) finalized its purchase of a 93,000 sq. ft. facility operated by its subsidiary,Dalitso LLC, for around $22 million. The deal also includes nearly nine acres of surrounding land in Prince William County, Virginia.High Tide Inc.(TSXV:HITI) (OTCQB:HITIF) (FRA: 2LY) will acquire 80% ofFab Nutrition, LLC. (operating as FABCBD) for $20.64 million in stock and cash.MassRoots, Inc.(OTC:MSRT) is looking to acquireEmpire Services, Inc. for $14 million in a primarily stock-based transaction.Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) purchased West Virginia-basedMountaineer Holding LLCfor $6 million.Cansortium Inc.(CSE:TIUM), (OTCQB:CNTMF), doing business under the Fluent brand, exercised its right to regain up to the maximum of $5 million of convertible promissory notes, originally issued in the amount of $10 million in 2019.Green Thumb Industries Inc.(CSE:GTII) (OTCQX:GTBIF) will reach the Virginia market via its acquisition ofDharma Pharmaceuticals LLC.Earnings ReportsKiaro Holdings Corp.(TSXV:KO) reported record revenues of CA$17.1 million in 2021, representing a year-over-year increase of 230%. Same-store sales spiked 58% over the same period.Cansortium Inc.(CSE:TIUM) (OTCQB:CNTMF), which operates under the Fluent brand, announced its fourth-quarter and full-year 2020 financial results, with consolidated revenue of $14.7 million for the three months ending Dec. 31, up 54% year-over-year.Scotts Miracle-Gro (NYSE:SMG) reported that company-wide sales grew by 32% year-over-year reaching $1.83 billion in the second quarter. For the first half of fiscal 2021, the company reported sales of $2.58 billion, up by 47% from $1.75 billion in sales posted a year ago.Sales for the cannabis-focused Hawthorne segment climbed up to $363.8 million, representing a 66% year-over-year increase.Lowell Farms Inc.(CSE:LOWL) (OTCQX:LOWLF) generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.Cannabis REITInnovative Industrial Properties, Inc.(NYSE:IIPR) announced its total revenue increased by 103% year-over-year to $42.9 million in the first quarter of 2021. Net income for the same period was roughly $25.6 million, or $1.05 per diluted share, representing an annual growth of 122%.POSaBIT Systems Corporation(CSE:PBIT) (OTCQX:POSAF) reported its total revenue increased by 327% year-over-year, hitting roughly $3.06 million in the fourth quarter of 2020. Total revenue amounted to $7.82 million in 2020, representing an annual increase of 127%.Cronos Group Inc (NASDAQ: CRON) reported a Q1 adjusted EBITDA loss of $37.07 million, marginally up from $37.05 million reported a year ago. This slight increase in losses was primarily driven by the rise in sales and marketing costs due to brand development in the U.S. segment and an increase in R&D costs.Hemp cultivation and processing brandHempFlaxposted its full-year 2020 earnings report, with revenues of €14.5 million ($17.4 million), up 43% from 2019's $10.1 million. EBITDA increased 63% from 2019, totaling €1.8 million, marking the company's second profitable year. EBITDA margins increased to 12.7% from the previous year's 11.1%.Planet 13 Holdings Inc.(CSE:PLTH) (OTCQX:PLNHF) generated record sales in April of $10.7 million — almost as much as last year’s total second-quarter revenue of $10.8 million.Other NewsCanadian hospital Sunnybrook Health Sciences Centre and Avicana Inc(OTC:AVCNF) announced a partnership to provide medical cannabis products on-site through the Odette Cancer Centre Pharmacy.Orchid Ventures Inc(OTC:ORVRD) entered an exclusive licensing agreement with Gold Flora. Per the agreement, Gold Flora will be assuming all production, sales, and distribution of Orchid Essentials products throughout the state of California, and purchasing all hardware, packaging, and terpenes through PurTecDelivery Systems, a wholly-owned subsidiary of Orchid Ventures.“As one of the highest growth operators in the state, we are confident that Gold Flora's leadership and quality of their operations will accelerate Orchid's growth potential, further establishing the brand as a leader in the largest recreational cannabis market in the world, California,” Corey Mangold, CEO and chairman of Orchid Ventures, told Benzinga.Applied DNA Sciences, Inc.(NASDAQ:APDN) signed a new contract with the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) with a maximal value of $1.04 million.MedMen Enterprises Inc(CSE:MMEN) (OTC:MMNFF) announced the opening of its first Miami Beach, Florida location.Tamerlane Tradinglaunched an online quality-verified marketplace for wholesale and bulk cannabis, calling the move the first and only cannabis marketplace of its kind in the world.“Our overall goal with the new online marketplace is to establish trust and transparency in the cannabis industry. By including quality verification and grading of cannabis product, wholesale buyers and suppliers will benefit,” said Jhavid Mohseni, CEO of Tamerlane Trading.Acreage Holdings, Inc.(CSE:ACRG) (OTC:ACRGF) andMedterra CBD, LLCare joining forces to develop a CBD-based collection of products.Sitka Hash Househas launched its handmade hashish-based products into the California market with manufacturing partner, Garden Society. Founded in 2012, Sitka claims 9 out of the top 10 hashish SKUs in Washington state.Sitka CEO Jeff Graham told Benzinga, “Interstate expansion offers us the opportunity to provide our original cannabis concentrates to new audiences. We are proud to enter California with the Garden Society as our manufacturer and HERBL as our distributor.”The Aster Farms team tracked their energy consumption, CO2e emissions, water use, solid waste as well as their hiring practices over the last year. The company now released its first annual Sustainability Report.“Sustainability is part of our company's DNA,” shared Aster Farms CEO and co-founder Julia Jacbonson. “From regenerative agriculture and recyclable packaging to inclusive hiring practices, we understand that sustainable farming is only part of the story.”“The cannabis industry is in a unique position to change the paradigm of what a successful company looks and feels like and what is considered most important,” she added.Newly released podcastHighly Unlikely,hosted by standup comedianAlex Gettlinand produced by Wikileaf, dives into the absurdity of the world we live in. Each episode features famed comedian guests losing their minds over some very real and strange facts while trying various new cannabis products.Canadian licensed cannabis producers and global markets will have access to time-tested, feminized, organic-certified cannabis seeds. This is thanks to a new partnership betweenHumboldt Seed CompanyandNymera,which will allow not only the production and sale of the seeds in Canada, but also the export of these genetics to other countries with legal cannabis markets around the world.This is the first time a cannabis seed is certified as organic.Calyxtannounced advancements in technology that will make it easier for scientists to bring advanced breeding into hemp. The company, an expert at improving crops like soybeans and wheat to produce more heart-healthy oil or higher fiber, announced its scientists have transformed hemp – an important step as the company can now engineer the hemp genome, unlocking capabilities to selectively breed and deliver improvements in hemp traits through advanced plant breeding like gene editing or even GM level engineering.“We were able to change the plants DNA and regenerate plants through tissue culture, thus accomplishing something that has been fairly elusive in hemp to date,\" said Travis Frey, Ph.D., chief technology officer of Calyxt. “By modernizing the hemp crop, we can now deliver traits that benefits both growers and consumers who are increasingly looking for plant-based and sustainable foods, materials, cosmeceuticals, nutraceuticals and more.\"Zelira Therapeutics Ltd(ASX:ZLD) (OTCQB:ZLDAF) launched its HOPE line of cannabis products in Washington DC. The product line, especially formulated for autism spectrum disorder (ASD) patients of all ages, is also available in Pennsylvania, Louisiana and Australia.“Since we first launched HOPE in the US, our long-term goal has been to make it accessible to ASD patients everywhere, and Washington DC's reciprocity allows us to take a huge step in that direction here in the US,” Dr. Oludare Odumosu, CEO of Zelira Therapeutics, told Benzinga. “The nation's capital is one of the most popular travel destinations, so we are thrilled to be able to offer HOPE there as a treatment option for ASD patients from around the country who travel to DC.”Cannabics Pharmaceuticals Inc.(OTCQB:CNBX), received a “Notice of Allowance” from the Mexican Patent and Trademark Office (IMPI) for a patent on a “System and method for high throughput screening of cancer cells.”Executive MovesCBD products distributor,Khode LLC., announced Tuesday it formed its first board of directors consisting of music artists, executives and CBD industry veterans, including Grammy award-winning artists and entrepreneurDJ Khaled, music executiveLenny S, CEO ofEndexx Corporation(OTC:EDXC)Todd Davis, andStephen HerronandRon CottingofCBD Unlimited, Inc.","news_type":1,"symbols_score_info":{"JAZZ":0.9,"GWPH":0.9,"HITIF":0.9,"NGD":0.9,"CNTMF":0.9,"THCX":0.9,"CNBS":0.9,"MSRT":0.9,"YOLO":0.9,"SPY":0.9,"APHA":0.9,"SNDL":0.9,"GTBIF":0.9,"TCNNF":0.9,"MJ":0.9,"CS":0.9,"CNBX":0.9,"TLRY":0.9,"JUSHF":0.9,"MSOS":0.9}},"isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341225889,"gmtCreate":1617835128941,"gmtModify":1634296305335,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Are we going to get a leg up","listText":"Are we going to get a leg up","text":"Are we going to get a leg up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/341225889","repostId":"1160369765","repostType":4,"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340913756,"gmtCreate":1617329383675,"gmtModify":1634521395755,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good option","listText":"Good option","text":"Good option","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/340913756","repostId":"1110671753","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356489221,"gmtCreate":1616806610263,"gmtModify":1634523919183,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Shoot for the sky","listText":"Shoot for the sky","text":"Shoot for the sky","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/356489221","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohu8.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</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; 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\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190027356,"gmtCreate":1620557136175,"gmtModify":1631891518070,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good for tesla but competitors not happy&nbsp;","listText":"Good for tesla but competitors not happy&nbsp;","text":"Good for tesla but competitors not happy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190027356","repostId":"1140579879","repostType":4,"isVote":1,"tweetType":1,"viewCount":1351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346346947,"gmtCreate":1618008348889,"gmtModify":1634295309365,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>wow when is the time","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>wow when is the time","text":"$Tesla Motors(TSLA)$wow when is the time","images":[{"img":"https://static.tigerbbs.com/f48ef5a17216ab8acd71bd074b767558","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/346346947","isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":357262872,"gmtCreate":1617279541796,"gmtModify":1634521650967,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Fuel cell way to go","listText":"Fuel cell way to go","text":"Fuel cell way to go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357262872","repostId":"2124786609","repostType":4,"repost":{"id":"2124786609","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617277436,"share":"https://www.laohu8.com/m/news/2124786609?lang=zh_CN&edition=full","pubTime":"2021-04-01 19:43","market":"hk","language":"en","title":"Thinking About Buying Stock Or Options In FuelCell Or Plug Power?<blockquote>考虑购买FuelCell或普拉格能源的股票或期权？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2124786609","media":"Benzinga","summary":"One of the most common questions traders have about stocks is “Why Is It Moving?”\n\nThat’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.","content":"<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p> That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE\">one</a>-sentence description as to why that stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE\">一</a>-句子描述股票为什么会变动。</blockquote></p><p> Fuel cell stocks spiked on volume in Wednesday’s after-hours session as President Biden suggested the benefits of investing in clean energy infrastructure.</p><p><blockquote>由于拜登总统暗示投资清洁能源基础设施的好处，燃料电池股在周三盘后交易中飙升。</blockquote></p><p> With names in clean energy manufacturing in the spotlight once again, here are the latest earnings results and analyst rating updates for <b>FuelCell Energy Inc</b> (NASDAQ:FCEL) and <b>Plug Power Inc</b> (NASDAQ:PLUG).</p><p><blockquote>随着清洁能源制造业的名字再次成为人们关注的焦点，以下是最新的盈利结果和分析师评级更新<b>燃料电池能源公司</b>（纳斯达克：FCEL）及<b>普拉格能源公司</b>（纳斯达克：插头）。</blockquote></p><p> <i>Companies around the world are shifting gears towards clean technology to adhere to more sustainable business practices. Check out&nbsp;Benzinga's Cleantech Small Cap Conference on April 22&nbsp;to learn more!</i></p><p><blockquote><i>世界各地的公司正在转向清洁技术，以坚持更可持续的商业实践。查看4月22日Benzinga的清洁技术小型股会议以了解更多信息！</i></blockquote></p><p> Northcoast Research&nbsp;initiated coverage this week on Plug Power&nbsp;with a Neutral rating.</p><p><blockquote>北海岸研究公司本周首次对普拉格能源进行了中性评级。</blockquote></p><p> Plug Power lost 5 cents per share in the fourth quarter, compared to a 6-cent per share loss in the year-ago quarter. The clean energy manufacturing company has a 52-week-high of $75.49 and a 52-week-low of $3.22.</p><p><blockquote>普拉格能源第四季度每股亏损5美分，而去年同期每股亏损6美分。这家清洁能源制造公司的52周高点为75.49美元，52周低点为3.22美元。</blockquote></p><p> Here are Plug Power’s analyst rating updates for 2021:</p><p><blockquote>以下是普拉格能源2021年分析师评级更新：</blockquote></p><p> <table>  <tbody>   <tr>    <td><b>Date</b></p><p><blockquote><table><tbody><tr><td><b>日期</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Research Firm</b></p><p><blockquote><td><b>研究公司</b></td></blockquote></p><p></td>    <td><b>Action</b></p><p><blockquote><td><b>行动</b></td></blockquote></p><p></td>    <td><b>Current</b></p><p><blockquote><td><b>当前的</b></td></blockquote></p><p></td>    <td><b>PT</b></p><p><blockquote><td><b>PT</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>3/30/21</p><p><blockquote><tr><td>3/30/21</td></tr></blockquote></p><p></td>    <td>Northcoast Research</p><p><blockquote><td>北海岸研究</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>n/a</p><p><blockquote><td>n/a</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/17/21</p><p><blockquote><tr><td>3/17/21</td></tr></blockquote></p><p></td>    <td>Craig-Hallum</p><p><blockquote><td>克雷格-哈勒姆</td></blockquote></p><p></td>    <td>Maintains</p><p><blockquote><td>维护</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>49.0</p><p><blockquote><td>49.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/17/21</p><p><blockquote><tr><td>3/17/21</td></tr></blockquote></p><p></td>    <td>Truist Securities</p><p><blockquote><td>Truist证券</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Hold</p><p><blockquote><td>抓住</td></blockquote></p><p></td>    <td>42.0</p><p><blockquote><td>42.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/02/21</p><p><blockquote><tr><td>3/02/21</td></tr></blockquote></p><p></td>    <td>Barclays</p><p><blockquote><td>巴克莱银行</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Underweight</p><p><blockquote><td>跑输大盘</td></blockquote></p><p></td>    <td>29.0</p><p><blockquote><td>29.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/01/21</p><p><blockquote><tr><td>3/01/21</td></tr></blockquote></p><p></td>    <td>Roth Capital</p><p><blockquote><td>罗斯资本</td></blockquote></p><p></td>    <td>Reiterates</p><p><blockquote><td>重申</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>65.0</p><p><blockquote><td>65.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/01/21</p><p><blockquote><tr><td>3/01/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Upgrades</p><p><blockquote><td>升级</td></blockquote></p><p></td>    <td>Overweight</p><p><blockquote><td>跑赢大盘</td></blockquote></p><p></td>    <td>65.0</p><p><blockquote><td>65.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>2/03/21</p><p><blockquote><tr><td>2/03/21</td></tr></blockquote></p><p></td>    <td>Bernstein</p><p><blockquote><td>伯恩斯坦</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Outperform</p><p><blockquote><td>表现出色</td></blockquote></p><p></td>    <td>75.0</p><p><blockquote><td>75.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/27/21</p><p><blockquote><tr><td>1/27/21</td></tr></blockquote></p><p></td>    <td>Piper Sandler</p><p><blockquote><td>派珀·桑德勒</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>66.0</p><p><blockquote><td>66.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/14/21</p><p><blockquote><tr><td>1/14/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>60.0</p><p><blockquote><td>60.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/13/21</p><p><blockquote><tr><td>1/13/21</td></tr></blockquote></p><p></td>    <td>HC Wainwright &amp; Co.</p><p><blockquote><td>温赖特公司。</td></blockquote></p><p></td>    <td>Maintains</p><p><blockquote><td>维护</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>85.0</p><p><blockquote><td>85.0</td></blockquote></p><p></td>   </tr>  </tbody> </table> Meanwhile, Northcoast Research&nbsp;initiated coverage on FuelCell with a Neutral rating.</p><p><blockquote>与此同时，Northcoast Research首次对FuelCell给予中性评级。</blockquote></p><p> For the first quarter, FuelCell Energy lost 6 cents per share. FuelCell lost 20 cents in the year-ago quarter. The stock has a 52-week-high of $29.44 and a 52-week-low of $1.26.</p><p><blockquote>第一季度，FuelCell Energy每股亏损6美分。FuelCell去年同期亏损20美分。该股的52周高点为29.44美元，52周低点为1.26美元。</blockquote></p><p> Here are FuelCell’s analyst rating updates for 2021:</p><p><blockquote>以下是FuelCell 2021年分析师评级更新：</blockquote></p><p> <table>  <tbody>   <tr>    <td><b>Date</b></p><p><blockquote><table><tbody><tr><td><b>日期</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Research Firm</b></p><p><blockquote><td><b>研究公司</b></td></blockquote></p><p></td>    <td><b>Action</b></p><p><blockquote><td><b>行动</b></td></blockquote></p><p></td>    <td><b>Current</b></p><p><blockquote><td><b>当前的</b></td></blockquote></p><p></td>    <td><b>PT</b></p><p><blockquote><td><b>PT</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>3/30/21</p><p><blockquote><tr><td>3/30/21</td></tr></blockquote></p><p></td>    <td>Northcoast Research</p><p><blockquote><td>北海岸研究</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>n/a</p><p><blockquote><td>n/a</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/14/21</p><p><blockquote><tr><td>1/14/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Underweight</p><p><blockquote><td>跑输大盘</td></blockquote></p><p></td>    <td>10.0</p><p><blockquote><td>10.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/07/21</p><p><blockquote><tr><td>1/07/21</td></tr></blockquote></p><p></td>    <td>Jefferies</p><p><blockquote><td>杰弗里斯</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Hold</p><p><blockquote><td>抓住</td></blockquote></p><p></td>    <td>11.0</p><p><blockquote><td>11.0</td></blockquote></p><p></td>   </tr>  </tbody> </table></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thinking About Buying Stock Or Options In FuelCell Or Plug Power?<blockquote>考虑购买FuelCell或普拉格能源的股票或期权？</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\">\nThinking About Buying Stock Or Options In FuelCell Or Plug Power?<blockquote>考虑购买FuelCell或普拉格能源的股票或期权？</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 </p>\n<p class=\"h-time smaller\">2021-04-01 19:43</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p> That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE\">one</a>-sentence description as to why that stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE\">一</a>-句子描述股票为什么会变动。</blockquote></p><p> Fuel cell stocks spiked on volume in Wednesday’s after-hours session as President Biden suggested the benefits of investing in clean energy infrastructure.</p><p><blockquote>由于拜登总统暗示投资清洁能源基础设施的好处，燃料电池股在周三盘后交易中飙升。</blockquote></p><p> With names in clean energy manufacturing in the spotlight once again, here are the latest earnings results and analyst rating updates for <b>FuelCell Energy Inc</b> (NASDAQ:FCEL) and <b>Plug Power Inc</b> (NASDAQ:PLUG).</p><p><blockquote>随着清洁能源制造业的名字再次成为人们关注的焦点，以下是最新的盈利结果和分析师评级更新<b>燃料电池能源公司</b>（纳斯达克：FCEL）及<b>普拉格能源公司</b>（纳斯达克：插头）。</blockquote></p><p> <i>Companies around the world are shifting gears towards clean technology to adhere to more sustainable business practices. Check out&nbsp;Benzinga's Cleantech Small Cap Conference on April 22&nbsp;to learn more!</i></p><p><blockquote><i>世界各地的公司正在转向清洁技术，以坚持更可持续的商业实践。查看4月22日Benzinga的清洁技术小型股会议以了解更多信息！</i></blockquote></p><p> Northcoast Research&nbsp;initiated coverage this week on Plug Power&nbsp;with a Neutral rating.</p><p><blockquote>北海岸研究公司本周首次对普拉格能源进行了中性评级。</blockquote></p><p> Plug Power lost 5 cents per share in the fourth quarter, compared to a 6-cent per share loss in the year-ago quarter. The clean energy manufacturing company has a 52-week-high of $75.49 and a 52-week-low of $3.22.</p><p><blockquote>普拉格能源第四季度每股亏损5美分，而去年同期每股亏损6美分。这家清洁能源制造公司的52周高点为75.49美元，52周低点为3.22美元。</blockquote></p><p> Here are Plug Power’s analyst rating updates for 2021:</p><p><blockquote>以下是普拉格能源2021年分析师评级更新：</blockquote></p><p> <table>  <tbody>   <tr>    <td><b>Date</b></p><p><blockquote><table><tbody><tr><td><b>日期</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Research Firm</b></p><p><blockquote><td><b>研究公司</b></td></blockquote></p><p></td>    <td><b>Action</b></p><p><blockquote><td><b>行动</b></td></blockquote></p><p></td>    <td><b>Current</b></p><p><blockquote><td><b>当前的</b></td></blockquote></p><p></td>    <td><b>PT</b></p><p><blockquote><td><b>PT</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>3/30/21</p><p><blockquote><tr><td>3/30/21</td></tr></blockquote></p><p></td>    <td>Northcoast Research</p><p><blockquote><td>北海岸研究</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>n/a</p><p><blockquote><td>n/a</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/17/21</p><p><blockquote><tr><td>3/17/21</td></tr></blockquote></p><p></td>    <td>Craig-Hallum</p><p><blockquote><td>克雷格-哈勒姆</td></blockquote></p><p></td>    <td>Maintains</p><p><blockquote><td>维护</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>49.0</p><p><blockquote><td>49.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/17/21</p><p><blockquote><tr><td>3/17/21</td></tr></blockquote></p><p></td>    <td>Truist Securities</p><p><blockquote><td>Truist证券</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Hold</p><p><blockquote><td>抓住</td></blockquote></p><p></td>    <td>42.0</p><p><blockquote><td>42.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/02/21</p><p><blockquote><tr><td>3/02/21</td></tr></blockquote></p><p></td>    <td>Barclays</p><p><blockquote><td>巴克莱银行</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Underweight</p><p><blockquote><td>跑输大盘</td></blockquote></p><p></td>    <td>29.0</p><p><blockquote><td>29.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/01/21</p><p><blockquote><tr><td>3/01/21</td></tr></blockquote></p><p></td>    <td>Roth Capital</p><p><blockquote><td>罗斯资本</td></blockquote></p><p></td>    <td>Reiterates</p><p><blockquote><td>重申</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>65.0</p><p><blockquote><td>65.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>3/01/21</p><p><blockquote><tr><td>3/01/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Upgrades</p><p><blockquote><td>升级</td></blockquote></p><p></td>    <td>Overweight</p><p><blockquote><td>跑赢大盘</td></blockquote></p><p></td>    <td>65.0</p><p><blockquote><td>65.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>2/03/21</p><p><blockquote><tr><td>2/03/21</td></tr></blockquote></p><p></td>    <td>Bernstein</p><p><blockquote><td>伯恩斯坦</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Outperform</p><p><blockquote><td>表现出色</td></blockquote></p><p></td>    <td>75.0</p><p><blockquote><td>75.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/27/21</p><p><blockquote><tr><td>1/27/21</td></tr></blockquote></p><p></td>    <td>Piper Sandler</p><p><blockquote><td>派珀·桑德勒</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>66.0</p><p><blockquote><td>66.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/14/21</p><p><blockquote><tr><td>1/14/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>60.0</p><p><blockquote><td>60.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/13/21</p><p><blockquote><tr><td>1/13/21</td></tr></blockquote></p><p></td>    <td>HC Wainwright &amp; Co.</p><p><blockquote><td>温赖特公司。</td></blockquote></p><p></td>    <td>Maintains</p><p><blockquote><td>维护</td></blockquote></p><p></td>    <td>Buy</p><p><blockquote><td>购买</td></blockquote></p><p></td>    <td>85.0</p><p><blockquote><td>85.0</td></blockquote></p><p></td>   </tr>  </tbody> </table> Meanwhile, Northcoast Research&nbsp;initiated coverage on FuelCell with a Neutral rating.</p><p><blockquote>与此同时，Northcoast Research首次对FuelCell给予中性评级。</blockquote></p><p> For the first quarter, FuelCell Energy lost 6 cents per share. FuelCell lost 20 cents in the year-ago quarter. The stock has a 52-week-high of $29.44 and a 52-week-low of $1.26.</p><p><blockquote>第一季度，FuelCell Energy每股亏损6美分。FuelCell去年同期亏损20美分。该股的52周高点为29.44美元，52周低点为1.26美元。</blockquote></p><p> Here are FuelCell’s analyst rating updates for 2021:</p><p><blockquote>以下是FuelCell 2021年分析师评级更新：</blockquote></p><p> <table>  <tbody>   <tr>    <td><b>Date</b></p><p><blockquote><table><tbody><tr><td><b>日期</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Research Firm</b></p><p><blockquote><td><b>研究公司</b></td></blockquote></p><p></td>    <td><b>Action</b></p><p><blockquote><td><b>行动</b></td></blockquote></p><p></td>    <td><b>Current</b></p><p><blockquote><td><b>当前的</b></td></blockquote></p><p></td>    <td><b>PT</b></p><p><blockquote><td><b>PT</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>3/30/21</p><p><blockquote><tr><td>3/30/21</td></tr></blockquote></p><p></td>    <td>Northcoast Research</p><p><blockquote><td>北海岸研究</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Neutral</p><p><blockquote><td>中立的</td></blockquote></p><p></td>    <td>n/a</p><p><blockquote><td>n/a</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/14/21</p><p><blockquote><tr><td>1/14/21</td></tr></blockquote></p><p></td>    <td>JP Morgan</p><p><blockquote><td>摩根大通</td></blockquote></p><p></td>    <td>Downgrades</p><p><blockquote><td>降级</td></blockquote></p><p></td>    <td>Underweight</p><p><blockquote><td>跑输大盘</td></blockquote></p><p></td>    <td>10.0</p><p><blockquote><td>10.0</td></blockquote></p><p></td>   </tr>   <tr>    <td>1/07/21</p><p><blockquote><tr><td>1/07/21</td></tr></blockquote></p><p></td>    <td>Jefferies</p><p><blockquote><td>杰弗里斯</td></blockquote></p><p></td>    <td>Initiates Coverage On</p><p><blockquote><td>开始覆盖</td></blockquote></p><p></td>    <td>Hold</p><p><blockquote><td>抓住</td></blockquote></p><p></td>    <td>11.0</p><p><blockquote><td>11.0</td></blockquote></p><p></td>   </tr>  </tbody> </table></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源","FCEL":"燃料电池能源"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124786609","content_text":"One of the most common questions traders have about stocks is “Why Is It Moving?”\nThat’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.\nFuel cell stocks spiked on volume in Wednesday’s after-hours session as President Biden suggested the benefits of investing in clean energy infrastructure.\nWith names in clean energy manufacturing in the spotlight once again, here are the latest earnings results and analyst rating updates for FuelCell Energy Inc (NASDAQ:FCEL) and Plug Power Inc (NASDAQ:PLUG).\nCompanies around the world are shifting gears towards clean technology to adhere to more sustainable business practices. Check out Benzinga's Cleantech Small Cap Conference on April 22 to learn more!\nNorthcoast Research initiated coverage this week on Plug Power with a Neutral rating.\nPlug Power lost 5 cents per share in the fourth quarter, compared to a 6-cent per share loss in the year-ago quarter. The clean energy manufacturing company has a 52-week-high of $75.49 and a 52-week-low of $3.22.\nHere are Plug Power’s analyst rating updates for 2021:\n\n\n\nDate\nResearch Firm\nAction\nCurrent\nPT\n\n\n3/30/21\nNorthcoast Research\nInitiates Coverage On\nNeutral\nn/a\n\n\n3/17/21\nCraig-Hallum\nMaintains\nBuy\n49.0\n\n\n3/17/21\nTruist Securities\nDowngrades\nHold\n42.0\n\n\n3/02/21\nBarclays\nDowngrades\nUnderweight\n29.0\n\n\n3/01/21\nRoth Capital\nReiterates\nBuy\n65.0\n\n\n3/01/21\nJP Morgan\nUpgrades\nOverweight\n65.0\n\n\n2/03/21\nBernstein\nInitiates Coverage On\nOutperform\n75.0\n\n\n1/27/21\nPiper Sandler\nInitiates Coverage On\nNeutral\n66.0\n\n\n1/14/21\nJP Morgan\nInitiates Coverage On\nNeutral\n60.0\n\n\n1/13/21\nHC Wainwright & Co.\nMaintains\nBuy\n85.0\n\n\n\nMeanwhile, Northcoast Research initiated coverage on FuelCell with a Neutral rating.\nFor the first quarter, FuelCell Energy lost 6 cents per share. FuelCell lost 20 cents in the year-ago quarter. The stock has a 52-week-high of $29.44 and a 52-week-low of $1.26.\nHere are FuelCell’s analyst rating updates for 2021:\n\n\n\nDate\nResearch Firm\nAction\nCurrent\nPT\n\n\n3/30/21\nNorthcoast Research\nInitiates Coverage On\nNeutral\nn/a\n\n\n1/14/21\nJP Morgan\nDowngrades\nUnderweight\n10.0\n\n\n1/07/21\nJefferies\nInitiates Coverage On\nHold\n11.0","news_type":1,"symbols_score_info":{"PLUG":0.9,"FCEL":0.9}},"isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354575417,"gmtCreate":1617193053539,"gmtModify":1634522170210,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/354575417","repostId":"1163996400","repostType":4,"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356483474,"gmtCreate":1616806657398,"gmtModify":1634523918000,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"&nbsp;Xiao liao","listText":"&nbsp;Xiao liao","text":"Xiao liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356483474","repostId":"1119843211","repostType":4,"repost":{"id":"1119843211","kind":"news","pubTimestamp":1616770039,"share":"https://www.laohu8.com/m/news/1119843211?lang=zh_CN&edition=full","pubTime":"2021-03-26 22:47","market":"fut","language":"en","title":"‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst<blockquote>技术分析师表示，随着投资者急于获利，比特币可能成为下一张倒下的多米诺骨牌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119843211","media":"MarketWatch","summary":"Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.At last check, bitcoin was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past ","content":"<p>Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.</p><p><blockquote>一位分析师表示，比特币价格周四面临压力，如果股市继续下跌，世界第一大加密货币短期内可能会面临进一步的看跌痛苦。</blockquote></p><p>At last check, bitcoin&nbsp;was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.</p><p><blockquote>根据最新检查，比特币在CoinDesk上的易手价格为51.743美元，该资产在过去24小时内短暂触及50,458.10美元的低点，并在两周多来的最低点附近交易。</blockquote></p><p>Values for the crypto are off more than 11% so far this week, FactSet data show.</p><p><blockquote>FactSet数据显示，本周迄今为止，该加密货币的价值已下跌超过11%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2f433365c95d3e6845d8275eea88bafc\" tg-width=\"947\" tg-height=\"654\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And at least one analyst fears that the crypto asset could come under pressure as a host of speculative assets have been coming under steady selling pressure so far this week. Bitcoin is often perceived as being uncorrelated with stocks and other assets but it has lately been moving in tandem with selloffs in crude-oil futures, and stocks, with declines in so-called risk assets coming as the U.S. dollar has gained some traction higher.</p><p><blockquote>至少一位分析师担心加密资产可能会面临压力，因为本周迄今为止，许多投机性资产一直面临稳定的抛售压力。比特币通常被认为与股票和其他资产无关，但最近它一直与原油期货和股票的抛售同步波动，随着美元走高，所谓的风险资产也随之下跌。</blockquote></p><p>For that reason, Fawad&nbsp;Razaqzada, market analyst at ThinkMarkets, in a Thursday note cautioned investors to watch out for more pressure on bitcoin that could take it beneath $50,000.</p><p><blockquote>出于这个原因，ThinkMarkets市场分析师Fawad Razaqzada在周四的一份报告中警告投资者要警惕比特币面临的更大压力，这可能会使其跌破50,000美元。</blockquote></p><p>“Judging by recent events, traders seem happy to be selling into the rallies rather than buying the dip. So, don’t be surprised if we see renewed weakness in the markets later on in the session,” he wrote.</p><p><blockquote>“从最近的事件来看，交易员似乎乐于逢高卖出，而不是逢低买入。因此，如果我们在盘中晚些时候看到市场再次疲软，请不要感到惊讶，”他写道。</blockquote></p><p>“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past year and if that relationship remains strong then the digital currency could follow risk assets lower,” he added.</p><p><blockquote>“如果是这样，这对比特币来说可能是进一步的坏消息。过去一年，加密货币与风险资产一直呈正相关，如果这种关系保持强劲，那么数字货币可能会跟随风险资产走低，”他补充道。</blockquote></p><p>“Even if a proper sell-off does not materialise for stocks and other risk assets today, Bitcoin traders need to proceed with caution because in recent days we have been getting more and more signs that the appetite for risk is slowly fading away across the financial markets,” he added.</p><p><blockquote>“即使今天股票和其他风险资产没有出现适当的抛售，比特币交易员也需要谨慎行事，因为最近几天我们得到越来越多的迹象表明，整个金融市场的风险偏好正在慢慢消退，”他补充道。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst<blockquote>技术分析师表示，随着投资者急于获利，比特币可能成为下一张倒下的多米诺骨牌</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\">\n‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst<blockquote>技术分析师表示，随着投资者急于获利，比特币可能成为下一张倒下的多米诺骨牌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-26 22:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.</p><p><blockquote>一位分析师表示，比特币价格周四面临压力，如果股市继续下跌，世界第一大加密货币短期内可能会面临进一步的看跌痛苦。</blockquote></p><p>At last check, bitcoin&nbsp;was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.</p><p><blockquote>根据最新检查，比特币在CoinDesk上的易手价格为51.743美元，该资产在过去24小时内短暂触及50,458.10美元的低点，并在两周多来的最低点附近交易。</blockquote></p><p>Values for the crypto are off more than 11% so far this week, FactSet data show.</p><p><blockquote>FactSet数据显示，本周迄今为止，该加密货币的价值已下跌超过11%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2f433365c95d3e6845d8275eea88bafc\" tg-width=\"947\" tg-height=\"654\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>And at least one analyst fears that the crypto asset could come under pressure as a host of speculative assets have been coming under steady selling pressure so far this week. Bitcoin is often perceived as being uncorrelated with stocks and other assets but it has lately been moving in tandem with selloffs in crude-oil futures, and stocks, with declines in so-called risk assets coming as the U.S. dollar has gained some traction higher.</p><p><blockquote>至少一位分析师担心加密资产可能会面临压力，因为本周迄今为止，许多投机性资产一直面临稳定的抛售压力。比特币通常被认为与股票和其他资产无关，但最近它一直与原油期货和股票的抛售同步波动，随着美元走高，所谓的风险资产也随之下跌。</blockquote></p><p>For that reason, Fawad&nbsp;Razaqzada, market analyst at ThinkMarkets, in a Thursday note cautioned investors to watch out for more pressure on bitcoin that could take it beneath $50,000.</p><p><blockquote>出于这个原因，ThinkMarkets市场分析师Fawad Razaqzada在周四的一份报告中警告投资者要警惕比特币面临的更大压力，这可能会使其跌破50,000美元。</blockquote></p><p>“Judging by recent events, traders seem happy to be selling into the rallies rather than buying the dip. So, don’t be surprised if we see renewed weakness in the markets later on in the session,” he wrote.</p><p><blockquote>“从最近的事件来看，交易员似乎乐于逢高卖出，而不是逢低买入。因此，如果我们在盘中晚些时候看到市场再次疲软，请不要感到惊讶，”他写道。</blockquote></p><p>“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past year and if that relationship remains strong then the digital currency could follow risk assets lower,” he added.</p><p><blockquote>“如果是这样，这对比特币来说可能是进一步的坏消息。过去一年，加密货币与风险资产一直呈正相关，如果这种关系保持强劲，那么数字货币可能会跟随风险资产走低，”他补充道。</blockquote></p><p>“Even if a proper sell-off does not materialise for stocks and other risk assets today, Bitcoin traders need to proceed with caution because in recent days we have been getting more and more signs that the appetite for risk is slowly fading away across the financial markets,” he added.</p><p><blockquote>“即使今天股票和其他风险资产没有出现适当的抛售，比特币交易员也需要谨慎行事，因为最近几天我们得到越来越多的迹象表明，整个金融市场的风险偏好正在慢慢消退，”他补充道。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/bitcoin-could-be-next-domino-to-fall-as-investors-rush-to-book-profit-says-technical-analyst-11616701631?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":{"PYPL":"PayPal","GBTC":"比特币ETF-Grayscale","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/bitcoin-could-be-next-domino-to-fall-as-investors-rush-to-book-profit-says-technical-analyst-11616701631?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1119843211","content_text":"Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.At last check, bitcoin was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.Values for the crypto are off more than 11% so far this week, FactSet data show.And at least one analyst fears that the crypto asset could come under pressure as a host of speculative assets have been coming under steady selling pressure so far this week. Bitcoin is often perceived as being uncorrelated with stocks and other assets but it has lately been moving in tandem with selloffs in crude-oil futures, and stocks, with declines in so-called risk assets coming as the U.S. dollar has gained some traction higher.For that reason, Fawad Razaqzada, market analyst at ThinkMarkets, in a Thursday note cautioned investors to watch out for more pressure on bitcoin that could take it beneath $50,000.“Judging by recent events, traders seem happy to be selling into the rallies rather than buying the dip. So, don’t be surprised if we see renewed weakness in the markets later on in the session,” he wrote.“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past year and if that relationship remains strong then the digital currency could follow risk assets lower,” he added.“Even if a proper sell-off does not materialise for stocks and other risk assets today, Bitcoin traders need to proceed with caution because in recent days we have been getting more and more signs that the appetite for risk is slowly fading away across the financial markets,” he added.","news_type":1,"symbols_score_info":{"XBTmain":0.9,"PYPL":0.9,"TSLA":0.9,"BTCmain":0.9,"SQ":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327898625,"gmtCreate":1616075166167,"gmtModify":1634527370569,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Time for respite for the exuberance on tech stocks.","listText":"Time for respite for the exuberance on tech stocks.","text":"Time for respite for the exuberance on tech stocks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327898625","repostId":"1145217400","repostType":4,"isVote":1,"tweetType":1,"viewCount":363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190024439,"gmtCreate":1620557025521,"gmtModify":1631891518083,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Blood on the street","listText":"Blood on the street","text":"Blood on the street","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190024439","repostId":"1122089368","repostType":4,"repost":{"id":"1122089368","kind":"news","pubTimestamp":1620457397,"share":"https://www.laohu8.com/m/news/1122089368?lang=zh_CN&edition=full","pubTime":"2021-05-08 15:03","market":"us","language":"en","title":"What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122089368","media":"The Wall Street Journal","summary":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are t","content":"<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.</p><p><blockquote>对于金融泡沫的老手来说，现在有很多熟悉的东西。股票估值是自2000年互联网泡沫以来最高的。房价回到了金融危机前的峰值。高风险公司可以以有记录以来的最低利率借款。个人投资者正在向绿色能源和加密货币投入资金。</blockquote></p><p>This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.</p><p><blockquote>这种繁荣有一些合理的解释，从数字商务的进步到可能是1983年以来最强劲的财政增长。</blockquote></p><p>But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.</p><p><blockquote>但最重要的是一个驱动因素：美联储。宽松的货币政策经常推动金融繁荣，现在尤其容易。美联储在过去一年中将利率维持在接近零的水平，并暗示利率至少在两年内不会改变。它正在购买数千亿美元的债券。因此，10年期国债收益率远低于通胀——即实际收益率深度为负——这是40年来的第二次。</blockquote></p><p>There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.</p><p><blockquote>利率如此之低是有充分理由的。美联储采取行动是为了应对一场疫情，这场疫情在最严重的时候可能造成的损害甚至比2007-09年的金融危机还要大。然而，这在很大程度上要归功于美联储和国会通过了约5万亿美元的财政刺激计划，这次复苏看起来比上次要健康得多。这可能会削弱利率如此之低的原因，威胁市场的基础。</blockquote></p><p>“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”</p><p><blockquote>与现任主席杰罗姆·鲍威尔一起担任美联储理事的哈佛大学经济学家杰里米·斯坦表示：“假设利率将长期处于低位，股市的定价至少是完美的。”“当然，你会感觉到美联储非常努力地说，‘一切都很好，我们不急于加息。’但虽然我不认为我们会走向持续的高通胀，但这是完全有可能的。我们将有几个季度的通胀热点数据。”</blockquote></p><p>Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”</p><p><blockquote>他问道，由于只有在利率保持极低水平的情况下，股票估值才是合理的，因此如果美联储不得不收紧货币政策以对抗通胀并且债券收益率上升1至1.5个百分点，股票如何重新定价。“资产价格可能会出现严重调整。”</blockquote></p><p><b>‘A bit frothy’</b></p><p><blockquote><b>“有点泡沫”</b></blockquote></p><p>The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.</p><p><blockquote>美联储以前也来过这里。20世纪90年代末，为了应对亚洲金融危机和对冲基金长期资本管理公司几近崩溃，它愿意降息，这被一些人视为隐性的市场支持，助长了随后的互联网泡沫。泡沫破裂后的低利率政策被指责推高了房价。两次美联储官员都为自己的政策辩护，认为仅仅为了防止泡沫而加息（或不降息）会损害他们低失业率和通胀的主要目标，而且比让泡沫自行破灭造成的危害更大。</blockquote></p><p>As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.</p><p><blockquote>至于今年，央行在本周的一份报告中警告称，资产“估值普遍较高”，“如果投资者风险偏好下降、遏制病毒进展令人失望或复苏停滞，资产估值很容易大幅下跌”。4月28日，鲍威尔承认市场看起来“有点泡沫”，美联储可能是原因之一：“我不会说这与货币政策无关，但它与疫苗接种有很大关系和经济重新开放。”但他没有暗示美联储将缩减刺激措施：“经济距离我们的目标还有很长的路要走。”劳工部周五的一份报告显示，4月份创造的就业机会远低于华尔街的预期，这突显了这一点。</blockquote></p><p>The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”</p><p><blockquote>美联储的选择深受金融危机的影响。尽管美联储当时将利率降至接近零的水平并购买了债券，但随着家庭、银行和政府寻求偿还债务，美联储正面临强大的阻力。这抑制了支出，并将通胀率推至美联储2%的目标以下。人口老龄化等深层次力量也抑制了经济增长和利率，一些人将这种组合称为“长期停滞”。</blockquote></p><p>The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.</p><p><blockquote>一年前的疫情关闭引发了对经济产出的打击，最初比金融危机还要严重。但两个月后，随着限制放松和企业适应社交距离，经济活动开始复苏。美联储启动了新的贷款计划，国会通过了2.2万亿美元的Cares法案。疫苗比预期的更早到达。美国经济可能会在本季度达到大流行前的规模，比金融危机后快两年。</blockquote></p><p>And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.</p><p><blockquote>然而，即使前景有所改善，财政和货币的水龙头仍然敞开着。去年5月，民主党人首次提出额外3万亿美元的刺激计划，当时预计去年产出将下降6%。实际上下降了不到一半，但民主党在赢得白宫和国会后，继续推进同样规模的刺激计划。</blockquote></p><p></p><p>The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.</p><p><blockquote>美联储于2020年3月开始购买债券，以应对市场的混乱状况。夏末，随着市场正常运转，它延长了该计划，同时将理由转向保持低债券收益率。</blockquote></p><p>At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.</p><p><blockquote>与此同时，它公布了一个新框架：在通胀率多年低于2%之后，它的目标是将通胀率不仅推回到2%，而且更高，以便随着时间的推移，平均通胀率和预期通胀率都稳定在2%。为此，它承诺在充分就业恢复、通胀率达到2%并走高之前不会加息。官员们预测这种情况在2024年之前不会发生，尽管前景显着改善，但此后仍坚持这一指导。</blockquote></p><p><b>Running of the bulls</b></p><p><blockquote><b>奔牛节</b></blockquote></p><p>This injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&amp;P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.</p><p><blockquote>美国银行的一项调查显示，向因疫苗接种而已经反弹的经济注入前所未有的货币和财政刺激措施，这就是华尔街策略师自上次金融危机前以来最看好股市的原因。虽然盈利预测大幅上升，但股市涨幅更大。根据FactSet的数据，标普500股票指数目前的交易价格约为来年利润的22倍，这一水平仅在2000年互联网繁荣的顶峰时期才超过。</blockquote></p><p>Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.</p><p><blockquote>其他资产市场也同样捉襟见肘。根据彭博巴克莱的数据，投资者愿意以至少1995年以来的最低收益率以及自2007年以来与安全国债的最窄利差购买垃圾级公司的债券。经通胀调整后，住宅和商业地产价格接近2006年达到的峰值。</blockquote></p><p>Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.</p><p><blockquote>今天的股票和房地产估值比2000年或2006年更加合理，因为无风险国债的回报率要低得多。从这个意义上说，美联储的政策完全按照预期发挥作用：改善经济前景，这有利于利润、住房需求和企业信誉；和风险偏好。</blockquote></p><p>Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.</p><p><blockquote>尽管如此，低利率不再足以证明某些资产估值的合理性。相反，多头会调用替代指标。</blockquote></p><p>Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.</p><p><blockquote>美国银行最近指出，碳排放量相对较低、用水效率较高的公司估值较高。这些估值并不是优越的现金流或利润前景的结果，而是根据环境、社会和治理（ESG）标准投资的资金浪潮。</blockquote></p><p>Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.</p><p><blockquote>对于不赚取利息、租金或股息的加密货币，传统估值也毫无用处。相反，倡导者声称数字货币将取代央行发行的法定货币作为交易媒介和价值储存手段。“加密货币有可能像互联网一样具有革命性并被广泛采用，”加密货币交易所Coinbase GlobalInc.首次公开募股的招股说明书称，其语言让人想起二十多年前与互联网相关的IPO。根据信息服务机构CoinDesk的数据，截至4月29日，加密货币的价值超过2万亿美元，大致相当于流通中的所有美元。</blockquote></p><p>Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.</p><p><blockquote>金融创新也在发挥作用，就像过去的金融繁荣一样。投资组合保险是一种旨在对冲市场损失的策略，在1987年股市崩盘期间放大了抛售。20世纪90年代，互联网股票经纪人推动了科技股的上涨，而在21世纪初，次级抵押贷款衍生品帮助为住房融资。今天的等价物是零佣金经纪商，如Robinhood Markets Inc.、部分所有权和社交媒体，所有这些都赋予了个人投资者权力。</blockquote></p><p>Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&amp;P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.</p><p><blockquote>根据世界各国央行组成的财团国际清算银行最近的一份报告，此类投资者越来越多地影响整体市场的走向。例如，它发现，自2017年以来，跟踪机构投资者最喜欢的标普500的交易所交易基金的交易量已经持平，而个人投资者更喜欢的成分股的交易量却在攀升。报告指出，个人更有可能出于与其基础业务无关的原因购买一家公司的股票，例如，因为该公司的名称与另一只正在上涨的股票相似。</blockquote></p><p>While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.</p><p><blockquote>虽然这种猜测经常被归咎于美联储，但很难划清界限。财政刺激则不然。金融研究公司Bianco Research的负责人Jim Bianco表示，随着财政部发放1400美元的刺激支票，3月份流入交易所交易基金和共同基金的资金激增。“你用支票做的第一件事就是将其存入你的账户，到2021年，这就是你的经纪账户，”比安科先生说。</blockquote></p><p><b>Facing the future</b></p><p><blockquote><b>面向未来</b></blockquote></p><p></p><p>It’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.</p><p><blockquote>无法预测这一切将如何结束，甚至是否会结束。事实并非如此：高价股票最终可能会赚取必要的利润来证明当今的估值是合理的，尤其是在经济目前处于领先地位的情况下。与此同时，随着利润令人失望或竞争的出现，更极端的投机领域可能会在自身压力下崩溃。</blockquote></p><p>Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.</p><p><blockquote>比特币曾威胁要取代美元；现在，许多竞争对手也声称要做同样的事情。特斯拉公司曾经是你唯一可以购买来押注电动汽车的股票；现在有蔚来、NikolaCorp.和FiskerInc.，更不用说大众汽车公司和通用汽车公司等老牌制造商正在推出越来越多的电动车型。</blockquote></p><p>But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.</p><p><blockquote>但资产全面下跌可能涉及某种宏观经济事件，例如经济衰退、金融危机或通货膨胀。</blockquote></p><p>The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.</p><p><blockquote>美联储上周的报告称，该病毒仍然是对经济乃至金融体系的最大威胁。4月份的就业令人失望提醒人们经济前景仍然多么不稳定。尽管如此，随着病毒的消退，经济衰退现在似乎不太可能发生。不能排除与一些隐藏的脆弱性相关的金融危机。尽管如此，银行拥有如此多的资本，而抵押贷款承销又如此紧张，以至于类似于2007-09年始于抵押贷款违约的金融危机似乎很遥远。如果垃圾债券、加密货币或科技股主要是用借来的钱购买的，其价值暴跌可能会引发一波强制抛售、破产和潜在的危机。但这似乎并没有发生。Archegos Capital Management最近因衍生品股票投资逆转而倒闭，给其贷方造成了损失。但这并没有威胁到他们的生存，也没有引发对处境相似的公司的蔓延。</blockquote></p><p>“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”</p><p><blockquote>“第二个阿尔奇戈斯在哪里？”比安科先生说。“还没有。”</blockquote></p><p>That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.</p><p><blockquote>这就剩下通货膨胀了。由于半导体、木材和工人的短缺都给价格和成本带来了上行压力，对通胀的担忧现在很普遍。大多数预测者和美联储认为，一旦经济重新开放和正常支出模式恢复，这些压力将会缓解。尽管如此，常规债券收益率和通胀指数债券收益率之间的差异表明，投资者预计未来几年的通胀率平均约为2.5%。这很难是20世纪70年代的重演，也符合美联储长期平均通胀率2%的新目标。尽管如此，这将明显打破过去十年低于2%的区间。</blockquote></p><p>Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw &amp; Co. LP. He attributes that, in part, to inflation concerns.</p><p><blockquote>通胀略高将导致美联储将短期利率也略高，这不一定会损害股票估值。更令人担忧的是：对股票价值至关重要的长期债券收益率可能会大幅上升。自20世纪90年代末以来，债券和股票价格往往朝着相反的方向波动。这是因为当通胀不是问题时，经济冲击往往会压低债券收益率（与价格走势相反）和股票价格。因此，债券充当了抵御股票损失的保险政策，投资者愿意接受较低的收益率。如果通货膨胀再次成为一个问题，那么债券就会失去保险价值，其收益率就会上升。前美联储经济学家、现就职于对冲基金D.E.的布莱恩·萨克(Brian Sack)表示，近几个月来，过去几十年大部分时间里存在的股债相关性开始消失。肖公司。他将此部分归因于通胀担忧。</blockquote></p><p>The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.</p><p><blockquote>多年来，通货膨胀主导了金融领域，这导致投资者对资产定价，就好像通货膨胀再也不会产生这种影响一样。他们可能是对的。但如果史无前例的货币和财政刺激组合成功地使经济摆脱了过去十年的模式，这种自满可能会付出相当大的代价。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?<blockquote>当美联储停止投放资金时，股票和加密货币会发生什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-05-08 15:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.</p><p><blockquote>对于金融泡沫的老手来说，现在有很多熟悉的东西。股票估值是自2000年互联网泡沫以来最高的。房价回到了金融危机前的峰值。高风险公司可以以有记录以来的最低利率借款。个人投资者正在向绿色能源和加密货币投入资金。</blockquote></p><p>This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.</p><p><blockquote>这种繁荣有一些合理的解释，从数字商务的进步到可能是1983年以来最强劲的财政增长。</blockquote></p><p>But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.</p><p><blockquote>但最重要的是一个驱动因素：美联储。宽松的货币政策经常推动金融繁荣，现在尤其容易。美联储在过去一年中将利率维持在接近零的水平，并暗示利率至少在两年内不会改变。它正在购买数千亿美元的债券。因此，10年期国债收益率远低于通胀——即实际收益率深度为负——这是40年来的第二次。</blockquote></p><p>There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.</p><p><blockquote>利率如此之低是有充分理由的。美联储采取行动是为了应对一场疫情，这场疫情在最严重的时候可能造成的损害甚至比2007-09年的金融危机还要大。然而，这在很大程度上要归功于美联储和国会通过了约5万亿美元的财政刺激计划，这次复苏看起来比上次要健康得多。这可能会削弱利率如此之低的原因，威胁市场的基础。</blockquote></p><p>“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”</p><p><blockquote>与现任主席杰罗姆·鲍威尔一起担任美联储理事的哈佛大学经济学家杰里米·斯坦表示：“假设利率将长期处于低位，股市的定价至少是完美的。”“当然，你会感觉到美联储非常努力地说，‘一切都很好，我们不急于加息。’但虽然我不认为我们会走向持续的高通胀，但这是完全有可能的。我们将有几个季度的通胀热点数据。”</blockquote></p><p>Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”</p><p><blockquote>他问道，由于只有在利率保持极低水平的情况下，股票估值才是合理的，因此如果美联储不得不收紧货币政策以对抗通胀并且债券收益率上升1至1.5个百分点，股票如何重新定价。“资产价格可能会出现严重调整。”</blockquote></p><p><b>‘A bit frothy’</b></p><p><blockquote><b>“有点泡沫”</b></blockquote></p><p>The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.</p><p><blockquote>美联储以前也来过这里。20世纪90年代末，为了应对亚洲金融危机和对冲基金长期资本管理公司几近崩溃，它愿意降息，这被一些人视为隐性的市场支持，助长了随后的互联网泡沫。泡沫破裂后的低利率政策被指责推高了房价。两次美联储官员都为自己的政策辩护，认为仅仅为了防止泡沫而加息（或不降息）会损害他们低失业率和通胀的主要目标，而且比让泡沫自行破灭造成的危害更大。</blockquote></p><p>As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.</p><p><blockquote>至于今年，央行在本周的一份报告中警告称，资产“估值普遍较高”，“如果投资者风险偏好下降、遏制病毒进展令人失望或复苏停滞，资产估值很容易大幅下跌”。4月28日，鲍威尔承认市场看起来“有点泡沫”，美联储可能是原因之一：“我不会说这与货币政策无关，但它与疫苗接种有很大关系和经济重新开放。”但他没有暗示美联储将缩减刺激措施：“经济距离我们的目标还有很长的路要走。”劳工部周五的一份报告显示，4月份创造的就业机会远低于华尔街的预期，这突显了这一点。</blockquote></p><p>The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”</p><p><blockquote>美联储的选择深受金融危机的影响。尽管美联储当时将利率降至接近零的水平并购买了债券，但随着家庭、银行和政府寻求偿还债务，美联储正面临强大的阻力。这抑制了支出，并将通胀率推至美联储2%的目标以下。人口老龄化等深层次力量也抑制了经济增长和利率，一些人将这种组合称为“长期停滞”。</blockquote></p><p>The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.</p><p><blockquote>一年前的疫情关闭引发了对经济产出的打击，最初比金融危机还要严重。但两个月后，随着限制放松和企业适应社交距离，经济活动开始复苏。美联储启动了新的贷款计划，国会通过了2.2万亿美元的Cares法案。疫苗比预期的更早到达。美国经济可能会在本季度达到大流行前的规模，比金融危机后快两年。</blockquote></p><p>And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.</p><p><blockquote>然而，即使前景有所改善，财政和货币的水龙头仍然敞开着。去年5月，民主党人首次提出额外3万亿美元的刺激计划，当时预计去年产出将下降6%。实际上下降了不到一半，但民主党在赢得白宫和国会后，继续推进同样规模的刺激计划。</blockquote></p><p></p><p>The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.</p><p><blockquote>美联储于2020年3月开始购买债券，以应对市场的混乱状况。夏末，随着市场正常运转，它延长了该计划，同时将理由转向保持低债券收益率。</blockquote></p><p>At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.</p><p><blockquote>与此同时，它公布了一个新框架：在通胀率多年低于2%之后，它的目标是将通胀率不仅推回到2%，而且更高，以便随着时间的推移，平均通胀率和预期通胀率都稳定在2%。为此，它承诺在充分就业恢复、通胀率达到2%并走高之前不会加息。官员们预测这种情况在2024年之前不会发生，尽管前景显着改善，但此后仍坚持这一指导。</blockquote></p><p><b>Running of the bulls</b></p><p><blockquote><b>奔牛节</b></blockquote></p><p>This injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&amp;P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.</p><p><blockquote>美国银行的一项调查显示，向因疫苗接种而已经反弹的经济注入前所未有的货币和财政刺激措施，这就是华尔街策略师自上次金融危机前以来最看好股市的原因。虽然盈利预测大幅上升，但股市涨幅更大。根据FactSet的数据，标普500股票指数目前的交易价格约为来年利润的22倍，这一水平仅在2000年互联网繁荣的顶峰时期才超过。</blockquote></p><p>Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.</p><p><blockquote>其他资产市场也同样捉襟见肘。根据彭博巴克莱的数据，投资者愿意以至少1995年以来的最低收益率以及自2007年以来与安全国债的最窄利差购买垃圾级公司的债券。经通胀调整后，住宅和商业地产价格接近2006年达到的峰值。</blockquote></p><p>Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.</p><p><blockquote>今天的股票和房地产估值比2000年或2006年更加合理，因为无风险国债的回报率要低得多。从这个意义上说，美联储的政策完全按照预期发挥作用：改善经济前景，这有利于利润、住房需求和企业信誉；和风险偏好。</blockquote></p><p>Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.</p><p><blockquote>尽管如此，低利率不再足以证明某些资产估值的合理性。相反，多头会调用替代指标。</blockquote></p><p>Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.</p><p><blockquote>美国银行最近指出，碳排放量相对较低、用水效率较高的公司估值较高。这些估值并不是优越的现金流或利润前景的结果，而是根据环境、社会和治理（ESG）标准投资的资金浪潮。</blockquote></p><p>Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.</p><p><blockquote>对于不赚取利息、租金或股息的加密货币，传统估值也毫无用处。相反，倡导者声称数字货币将取代央行发行的法定货币作为交易媒介和价值储存手段。“加密货币有可能像互联网一样具有革命性并被广泛采用，”加密货币交易所Coinbase GlobalInc.首次公开募股的招股说明书称，其语言让人想起二十多年前与互联网相关的IPO。根据信息服务机构CoinDesk的数据，截至4月29日，加密货币的价值超过2万亿美元，大致相当于流通中的所有美元。</blockquote></p><p>Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.</p><p><blockquote>金融创新也在发挥作用，就像过去的金融繁荣一样。投资组合保险是一种旨在对冲市场损失的策略，在1987年股市崩盘期间放大了抛售。20世纪90年代，互联网股票经纪人推动了科技股的上涨，而在21世纪初，次级抵押贷款衍生品帮助为住房融资。今天的等价物是零佣金经纪商，如Robinhood Markets Inc.、部分所有权和社交媒体，所有这些都赋予了个人投资者权力。</blockquote></p><p>Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&amp;P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.</p><p><blockquote>根据世界各国央行组成的财团国际清算银行最近的一份报告，此类投资者越来越多地影响整体市场的走向。例如，它发现，自2017年以来，跟踪机构投资者最喜欢的标普500的交易所交易基金的交易量已经持平，而个人投资者更喜欢的成分股的交易量却在攀升。报告指出，个人更有可能出于与其基础业务无关的原因购买一家公司的股票，例如，因为该公司的名称与另一只正在上涨的股票相似。</blockquote></p><p>While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.</p><p><blockquote>虽然这种猜测经常被归咎于美联储，但很难划清界限。财政刺激则不然。金融研究公司Bianco Research的负责人Jim Bianco表示，随着财政部发放1400美元的刺激支票，3月份流入交易所交易基金和共同基金的资金激增。“你用支票做的第一件事就是将其存入你的账户，到2021年，这就是你的经纪账户，”比安科先生说。</blockquote></p><p><b>Facing the future</b></p><p><blockquote><b>面向未来</b></blockquote></p><p></p><p>It’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.</p><p><blockquote>无法预测这一切将如何结束，甚至是否会结束。事实并非如此：高价股票最终可能会赚取必要的利润来证明当今的估值是合理的，尤其是在经济目前处于领先地位的情况下。与此同时，随着利润令人失望或竞争的出现，更极端的投机领域可能会在自身压力下崩溃。</blockquote></p><p>Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.</p><p><blockquote>比特币曾威胁要取代美元；现在，许多竞争对手也声称要做同样的事情。特斯拉公司曾经是你唯一可以购买来押注电动汽车的股票；现在有蔚来、NikolaCorp.和FiskerInc.，更不用说大众汽车公司和通用汽车公司等老牌制造商正在推出越来越多的电动车型。</blockquote></p><p>But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.</p><p><blockquote>但资产全面下跌可能涉及某种宏观经济事件，例如经济衰退、金融危机或通货膨胀。</blockquote></p><p>The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.</p><p><blockquote>美联储上周的报告称，该病毒仍然是对经济乃至金融体系的最大威胁。4月份的就业令人失望提醒人们经济前景仍然多么不稳定。尽管如此，随着病毒的消退，经济衰退现在似乎不太可能发生。不能排除与一些隐藏的脆弱性相关的金融危机。尽管如此，银行拥有如此多的资本，而抵押贷款承销又如此紧张，以至于类似于2007-09年始于抵押贷款违约的金融危机似乎很遥远。如果垃圾债券、加密货币或科技股主要是用借来的钱购买的，其价值暴跌可能会引发一波强制抛售、破产和潜在的危机。但这似乎并没有发生。Archegos Capital Management最近因衍生品股票投资逆转而倒闭，给其贷方造成了损失。但这并没有威胁到他们的生存，也没有引发对处境相似的公司的蔓延。</blockquote></p><p>“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”</p><p><blockquote>“第二个阿尔奇戈斯在哪里？”比安科先生说。“还没有。”</blockquote></p><p>That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.</p><p><blockquote>这就剩下通货膨胀了。由于半导体、木材和工人的短缺都给价格和成本带来了上行压力，对通胀的担忧现在很普遍。大多数预测者和美联储认为，一旦经济重新开放和正常支出模式恢复，这些压力将会缓解。尽管如此，常规债券收益率和通胀指数债券收益率之间的差异表明，投资者预计未来几年的通胀率平均约为2.5%。这很难是20世纪70年代的重演，也符合美联储长期平均通胀率2%的新目标。尽管如此，这将明显打破过去十年低于2%的区间。</blockquote></p><p>Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw &amp; Co. LP. He attributes that, in part, to inflation concerns.</p><p><blockquote>通胀略高将导致美联储将短期利率也略高，这不一定会损害股票估值。更令人担忧的是：对股票价值至关重要的长期债券收益率可能会大幅上升。自20世纪90年代末以来，债券和股票价格往往朝着相反的方向波动。这是因为当通胀不是问题时，经济冲击往往会压低债券收益率（与价格走势相反）和股票价格。因此，债券充当了抵御股票损失的保险政策，投资者愿意接受较低的收益率。如果通货膨胀再次成为一个问题，那么债券就会失去保险价值，其收益率就会上升。前美联储经济学家、现就职于对冲基金D.E.的布莱恩·萨克(Brian Sack)表示，近几个月来，过去几十年大部分时间里存在的股债相关性开始消失。肖公司。他将此部分归因于通胀担忧。</blockquote></p><p>The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.</p><p><blockquote>多年来，通货膨胀主导了金融领域，这导致投资者对资产定价，就好像通货膨胀再也不会产生这种影响一样。他们可能是对的。但如果史无前例的货币和财政刺激组合成功地使经济摆脱了过去十年的模式，这种自满可能会付出相当大的代价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122089368","content_text":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”‘A bit frothy’The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.Running of the bullsThis injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.Facing the futureIt’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw & Co. LP. He attributes that, in part, to inflation concerns.The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372351240,"gmtCreate":1619181470580,"gmtModify":1631893817506,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578391811195027","idStr":"3578391811195027"},"themes":[],"htmlText":"Political move","listText":"Political move","text":"Political move","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/372351240","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}