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2022-01-14

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2022-01-11

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2022-01-09

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2022-01-08

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2022-01-06

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2022-01-05

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2022-01-03

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2022-01-02

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2022-01-01

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2021-12-31

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2021-12-30

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Semiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</blockquote>

2021-12-29

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2021-12-28

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2021-12-27

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Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>

2021-12-26

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A Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</blockquote>

2021-12-25

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2021-12-24

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2021-12-23

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U.S. Stock Futures Edge Up Ahead of Inflation, Jobless Data<blockquote>美国股指期货在通胀和失业数据公布前小幅上涨</blockquote>

2021-12-22

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Red Cat shares surged 30,6% in premarket trading<blockquote>红猫股价在盘前交易中飙升30.6%</blockquote>

2021-12-21

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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":1640792807,"share":"https://www.laohu8.com/m/news/1149988860?lang=zh_CN&edition=full","pubTime":"2021-12-29 23:46","market":"us","language":"en","title":"Semiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149988860","media":"Tiger Newspress","summary":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AM","content":"<p><html><head></head><body>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><blockquote><html><head></head><body>半导体股早盘涨跌互现。美光科技上涨近3%，英伟达和AMD下跌超过2%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p></body></html></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>Semiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</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\">\nSemiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</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\">2021-12-29 23:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><blockquote><html><head></head><body>半导体股早盘涨跌互现。美光科技上涨近3%，英伟达和AMD下跌超过2%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","NVDA":"英伟达","AMD":"美国超微公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149988860","content_text":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.","news_type":1,"symbols_score_info":{"NVDA":0.9,"AMD":0.9,"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696488094,"gmtCreate":1640746961023,"gmtModify":1640747202262,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696488094","repostId":"1186633322","repostType":4,"isVote":1,"tweetType":1,"viewCount":1124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696834903,"gmtCreate":1640659977604,"gmtModify":1640659977797,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696834903","repostId":"1127544468","repostType":4,"isVote":1,"tweetType":1,"viewCount":1004,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696088386,"gmtCreate":1640574826053,"gmtModify":1640574826257,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696088386","repostId":"2194177239","repostType":4,"repost":{"id":"2194177239","kind":"news","pubTimestamp":1640559609,"share":"https://www.laohu8.com/m/news/2194177239?lang=zh_CN&edition=full","pubTime":"2021-12-27 07:00","market":"us","language":"en","title":"Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2194177239","media":"Yahoo Finance","summary":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.The S&P 500  is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.According to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any ","content":"<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周中回归，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","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>Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</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\">\nSanta Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-12-27 07:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周中回归，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">Yahoo Finance</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4541":"氢能源","BK4096":"电气部件与设备","SPY.AU":"SPDR® S&P 500® ETF Trust","FCEL":"燃料电池能源"},"source_url":"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2194177239","content_text":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.\nThe S&P 500 (^GSPC) is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.\nThe term, coined by Stock Trader's Almanac in the 1970s, encompasses the final five trading days of the year and first two sessions of the new year. This year, that Santa Claus Rally window is set to start on Monday, Dec. 27 — or the latest a Santa Claus rally has started in 11 years, due to the timing of the holidays this year.\nAccording to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any given year. Since 1950, the Santa Claus Rally period has produced a positive return for the S&P 500 78.9% of the time, with an average return of 1.33%.\n“Why are these seven days so strong?” wrote Ryan Detrick, LPL Financial chief market strategist, in a note. “Whether optimism over a coming new year, holiday spending, traders on vacation, institutions squaring up their books — or the holiday spirit — the bottom line is that bulls tend to believe in Santa.”\nAnd if history is any indication, the absence of a Santa Claus Rally has also typically served as a harbinger of lower near-term returns.\n\"Going back to the mid-1990s, there have been only six times Santa failed to show in December. January was lower five of those six times, and the full year had a solid gain only once (in 2016, but a mini-bear market early in the year),\" Detrick added.\n“Considering the bear markets of 2000 and 2008 both took place after one of the rare instances that Santa failed to show makes believers out of us,\" he said. A bear market typically refers to when stocks drop at least 20% from recent record highs. \"Should this seasonally strong period miss the mark, it could be a warning sign.\"\nAnd this year, investors do have considerable additional concerns to mull heading into the new year. Though stocks closed out Thursday's session at fresh record highs before the long holiday weekend, December still marked a volatile month to start, with renewed concerns over the Omicron variant and the potential for tighter monetary policy from the Federal Reserve weighing on risk assets. Plus, prospects for more near-term fiscal support via the Biden administration's Build Back Better bill have dwindled, and inflation concerns spiked further. Last week, the Bureau of Economic Analysis reported core personal consumption expenditures (PCE) — the Fed's preferred inflation gauge — rose at a 4.7% year-over-year clip, or the fastest since 1983.\n\"If the U.S. was not battling the Omicron variant, U.S. stocks would be dancing higher as the Santa Claus Rally would have kept the climb going into uncharted territory,\" Edward Moya, chief market strategist at OANDA, wrote in a note last week. \"It is too early to say for sure if we will get a Santa Claus Rally, but given all the short-term risks of Fed tightening, Chinese weakness, fiscal support uncertainty and COVID, Wall Street is not complaining.\"\nA man in a Santa Claus costume gestures on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on December 5, 2019 in New York. (Photo by Bryan R. Smith / AFP) (Photo by BRYAN R. SMITH/AFP via Getty Images)BRYAN R. SMITH via Getty Images\nEconomic calendar\n\nMonday: Dallas Federal Reserve Manufacturing Activity Index, Dec. (13.0 expected, 11.8 in November)\nTuesday: FHFA House Price Index, month-over-month, October (0.9% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, month-over-month, October (0.9% expected, 0.96% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, year-over-year, October (18.6%. expected, 19.05% in September); S&P CoreLogic Case-Shiller Home Price Index, year-over-year, November (19.51% in October); Richmond Fed Manufacturing Index, December (11 expected,11 in November)\nWednesday: Wholesale Inventories, month-over-month, November preliminary (1.7% expected, 2.3% in October); Advance Goods Trade Balance, November (-$89.0 billion expected, -$82.9 billion in October); Retail Inventories, month-over-month, November (0.5% expected, 0.1% in October); Pending Home Sales, month-over-month, November (0.5% expected, 7.5% in October)\nThursday: Initial jobless claims, week ended Dec. 25. (205,000 during prior week); Continuing claims, week ended Dec. 18 (1.859 million during prior week); MNI Chicago PMI, December (62.2 expected, 61.8 in November)\nFriday: No notable reports scheduled for release\n\nEarnings calendar\n\nMonday: No notable reports scheduled for release\nTuesday: No notable reports scheduled for release\nWednesday: FuelCell Energy Inc. (FCEL) before market open\nThursday: No notable reports scheduled for release\nFriday: No notable reports scheduled for release","news_type":1,"symbols_score_info":{"FCEL":0.9,"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":1141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698497035,"gmtCreate":1640486155062,"gmtModify":1640486155220,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/698497035","repostId":"1144001147","repostType":4,"repost":{"id":"1144001147","kind":"news","pubTimestamp":1640485026,"share":"https://www.laohu8.com/m/news/1144001147?lang=zh_CN&edition=full","pubTime":"2021-12-26 10:17","market":"us","language":"en","title":"A Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144001147","media":"InvestorPlace","summary":"In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, t","content":"<p><div> In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there...</p><p><blockquote><div>去年，Ocugen（纳斯达克股票代码：OCGN）股票仍然是表现最好的股票之一。在此期间，该股已大涨超500%。该股的上涨始于2020年12月21日之后——从那里开始……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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>A Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</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\">\nA Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-12-26 10:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there...</p><p><blockquote><div>去年，Ocugen（纳斯达克股票代码：OCGN）股票仍然是表现最好的股票之一。在此期间，该股已大涨超500%。该股的上涨始于2020年12月21日之后——从那里开始……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">InvestorPlace</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":{"OCGN":"Ocugen"},"source_url":"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144001147","content_text":"In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there, the stock is up over 1,600%.\nHowever, it’s worth noting that OCGN stock was trading well below one dollar before it stitched a partnership with Bharat Biotech. The companies announced plans to begin manufacturing Covid-19 vaccines in the U.S. on Dec. 22 last year.\nBeyond the news of this partnership, there has been little to cheer for investors. OCGN stock traded at all-time highs of $18.77 in February and reached slightly lower peaks in May and November. The stock traded at $5.12 at the start of Dec. 23.\nOcugen will continue to underperform going forward. Even after the downtrend in the last few months, OCGN stock should be avoided.\nLet’s talk about the reasons to be bearish.\nFDA Approval Remains Elusive\nPfizer(NYSE:PFE) and Moderna(NASDAQ:MRNA) have been leaders in the vaccine race in the U.S. In a country where more than 70% of the population has already been vaccinated, Ocugen has yet to secure an approval from the U.S. Food and Drug Administration.\nBack in June, the biotech company’s application for emergency use authorization was rejected by the FDA. The recommendation by the FDA was to file for a biologics license application, which implies full approval.\nIn November, Ocugen announced that the FDA has “issued a clinical hold on the Company’s Investigational New Drug application (IND) to evaluate the COVID-19 vaccine candidate.” The FDA will be identifying the specific deficiencies that form a basis for the clinical hold. Once Ocugen addresses these deficiencies, there will be some progress.\nThe key point is that it’s been over a year since Ocugen announced the partnership with Bharat Biotech. The company has still been unsuccessful from an approval perspective.\nIn July, Ocugen had also initiated a rolling submission to Health Canada for the vaccine. There is no positive news on that front either.\nLet’s imagine a scenario where Ocugen receives an approval for vaccine use in Q1 2022. This is very unlikely. However, even in an optimistic case scenario, Ocugen needs to compete in a market where vaccination percentage is high. There is unlikely to be a case for strong revenue and cash flow growth.\nCan Omicron Provide a Lifeline for OCGN Stock?\nThe omicron variant has been a cause of concern for governments globally. Ocugen and partner Bharat Biotech are currently studying the effectiveness of the vaccine against the variant.\nIf the vaccine proves to be effective, can it be a game-changer for Ocugen? Most likely, no.\nFirst and foremost, Moderna has announced that its Covid-19 booster increases neutralizing antibodies 37-fold against Omicron variant.\nFurthermore, Pfizer has announced that a third dose increases the “neutralizing antibody by 25-fold compared to two doses against the Omicron variant.”\nClearly, the leading vaccine makers have an edge. Even if Ocugen announces that its vaccine is effective against the omicron variant, the stock is unlikely to trend higher.\nPeople who have already taken two shots of Moderna or Pfizer are unlikely to pursue a booster shot with Ocugen. Additionally, Ocugen is still struggling for approval.\nIt’s also worth noting that Ocugen needs to share revenue with Bharat Biotech. The visibility for healthy cash flows is therefore very unlikely.\nOCGN Stock Will Trend Lower\nOCGN stock is likely to continue trending lower in the coming months. Without an approval, the company is rapidly losing out on any revenue and cash flow potential.\nThe company is building a pipeline of drugs for various indications. However, the pipeline for various indications is still at a pre-clinical stage.\nThe stock trend will therefore be dictated by the outcome of Covid-19 vaccine approval and revenue potential. Things seem bleak on that front.\nIt also seems unlikely that Ocugen has a capability to expand the vaccine partnership with Bharat Biotech to other countries.","news_type":1,"symbols_score_info":{"OCGN":0.9}},"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698234612,"gmtCreate":1640402068834,"gmtModify":1640402188454,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698234612","repostId":"1156159690","repostType":4,"isVote":1,"tweetType":1,"viewCount":892,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698104348,"gmtCreate":1640313168088,"gmtModify":1640313844352,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698104348","repostId":"2193078140","repostType":4,"isVote":1,"tweetType":1,"viewCount":1206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698030995,"gmtCreate":1640256833016,"gmtModify":1640256833207,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698030995","repostId":"1188509070","repostType":4,"repost":{"id":"1188509070","kind":"news","pubTimestamp":1640255099,"share":"https://www.laohu8.com/m/news/1188509070?lang=zh_CN&edition=full","pubTime":"2021-12-23 18:24","market":"us","language":"en","title":"U.S. Stock Futures Edge Up Ahead of Inflation, Jobless Data<blockquote>美国股指期货在通胀和失业数据公布前小幅上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188509070","media":"Wall Street Journal","summary":"U.S. stock futures crept higher ahead of fresh inflation and consumer-spending data that are set to ","content":"<p>U.S. stock futures crept higher ahead of fresh inflation and consumer-spending data that are set to continue shaping monetary policy into next year.</p><p><blockquote>在新的通胀和消费者支出数据公布之前，美国股指期货小幅走高，这些数据将继续影响明年的货币政策。</blockquote></p><p> Futures for the S&amp;P 500 gained 0.2% Thursday. The index&nbsp;climbed for a second day Wednesday&nbsp;as strong economic data helped ease investors’ concerns about the risks posed by Covid-19 and inflation. Contracts for the tech-focused Nasdaq-100 were up 0.1% Thursday, and futures for the Dow Jones Industrial Average added 0.3%.</p><p><blockquote>标普500期货周四上涨0.2%。由于强劲的经济数据帮助缓解了投资者对Covid-19和通胀带来的风险的担忧，该指数周三连续第二天攀升。以科技股为主的纳斯达克100指数合约周四上涨0.1%，道琼斯工业平均指数期货上涨0.3%。</blockquote></p><p> In premarket trading, shares of&nbsp;Novavax&nbsp;gained 5.3% after it said its two-dose Covid-19 vaccine demonstrated “strong immune responses” against&nbsp;Omicron and other variants.</p><p><blockquote>在盘前交易中，Novavax表示其两剂Covid-19疫苗对奥密克戎病毒和其他变种表现出“强烈的免疫反应”，该公司股价上涨5.3%。</blockquote></p><p> The Commerce Department is slated to release fresh figures on consumer spending and a key measure of inflation at 8:30 a.m. ET. Economists estimate that core inflation, which excludes often volatile food and energy prices, rose at the fastest annual pace in almost four decades in November. U.S. consumer spending likely increased in November, boosted by job gains and rising wages, high levels of household saving and inflationary pressures.</p><p><blockquote>商务部定于美国东部时间上午8:30发布新的消费者支出数据和一项关键的通胀指标。经济学家估计，核心通胀（不包括经常波动的食品和能源价格）在11月份以近四十年来最快的年度速度上涨。受就业增长和工资上涨、高水平的家庭储蓄和通胀压力的提振，美国11月份消费者支出可能会增加。</blockquote></p><p> Strong inflation data earlier in December helped prompt the Federal Reserve to accelerate awinding down of its pandemic-era stimulus. Brisk demand for goods, disrupted supply chains, temporary shortages and a rebound in travel have pushed inflation higher. Investors and central bankers are worried that&nbsp;the Omicron variant&nbsp;could add additional pressure to inflation.</p><p><blockquote>12月初强劲的通胀数据促使美联储加速结束大流行时期的刺激措施。商品需求旺盛、供应链中断、暂时短缺和旅行反弹推高了通胀。投资者和央行行长担心奥密克戎变体可能会给通胀增加额外压力。</blockquote></p><p> “Inflation is center stage for a lot of people,” said Andrew Cole, head of multiasset in London at Pictet Asset Management. “Inflation is widely expected to peak, if not in the first quarter, the first half of next year. You might have to wait until the second half of next year for central banks to relax.”</p><p><blockquote>百达资产管理公司伦敦多资产主管安德鲁·科尔表示：“对于很多人来说，通货膨胀是中心舞台。”“人们普遍预计通胀将在明年上半年见顶，如果不是在第一季度。各国央行可能要等到明年下半年才会放松。”</blockquote></p><p> Higher inflation and low yields on government bonds have dissuaded some investors from holding them this year, due to diminished returns on keeping them to maturity. In bond markets, the yield on the benchmark 10-year Treasury note ticked up to 1.469% Thursday from 1.457% Wednesday. Yields rise when prices fall.</p><p><blockquote>较高的通胀和较低的政府债券收益率阻止了一些投资者今年持有这些债券，因为持有这些债券到期的回报会减少。在债券市场，基准10年期国债收益率从周三的1.457%升至周四的1.469%。当价格下跌时，收益率上升。</blockquote></p><p> Fresh U.S. jobless claims data are also due at 8:30 a.m. Economists expect first-time applications for unemployment benefits, a proxy for layoffs, to remain exceptionally low in the week ended Dec. 18, as employers try to hold on to workers.</p><p><blockquote>新的美国初请失业金数据也将于上午8:30公布。经济学家预计，截至12月18日当周，首次申请失业救济人数（代表裁员）将保持在异常低的水平，因为雇主试图留住工人。</blockquote></p><p> Overseas, the Stoxx Europe 600 rose 0.4%. Major stock indexes in Asia closed higher, with China’s Shanghai Composite gaining 0.6% and South Korea’s Kospi up 0.5%. Japan’s Nikkei 225 added 0.8%.</p><p><blockquote>海外方面，欧洲斯托克600指数涨0.4%。亚洲主要股指收高，中国上证综指上涨0.6%，韩国综合指数上涨0.5%。日本日经225指数上涨0.8%。</blockquote></p><p> Shares of&nbsp;JD.com&nbsp;fell 7% in Hong Kong trading after Chinese social-media giant&nbsp;Tencent Holdings&nbsp;said it was shedding&nbsp;most of its stake in the online retailer. Shares of Tencent rose 4.2%. Hong Kong’s broader Hang Seng Index gained 0.4%.</p><p><blockquote>在中国社交媒体巨头腾讯控股控股表示将出售其在在线零售商京东的大部分股份后，京东股价在香港交易中下跌7%。腾讯控股股价上涨4.2%。香港整体恒生指数上涨0.4%。</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>U.S. Stock Futures Edge Up Ahead of Inflation, Jobless Data<blockquote>美国股指期货在通胀和失业数据公布前小幅上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stock Futures Edge Up Ahead of Inflation, Jobless Data<blockquote>美国股指期货在通胀和失业数据公布前小幅上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wall Street Journal</strong><span class=\"h-time small\">2021-12-23 18:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. stock futures crept higher ahead of fresh inflation and consumer-spending data that are set to continue shaping monetary policy into next year.</p><p><blockquote>在新的通胀和消费者支出数据公布之前，美国股指期货小幅走高，这些数据将继续影响明年的货币政策。</blockquote></p><p> Futures for the S&amp;P 500 gained 0.2% Thursday. The index&nbsp;climbed for a second day Wednesday&nbsp;as strong economic data helped ease investors’ concerns about the risks posed by Covid-19 and inflation. Contracts for the tech-focused Nasdaq-100 were up 0.1% Thursday, and futures for the Dow Jones Industrial Average added 0.3%.</p><p><blockquote>标普500期货周四上涨0.2%。由于强劲的经济数据帮助缓解了投资者对Covid-19和通胀带来的风险的担忧，该指数周三连续第二天攀升。以科技股为主的纳斯达克100指数合约周四上涨0.1%，道琼斯工业平均指数期货上涨0.3%。</blockquote></p><p> In premarket trading, shares of&nbsp;Novavax&nbsp;gained 5.3% after it said its two-dose Covid-19 vaccine demonstrated “strong immune responses” against&nbsp;Omicron and other variants.</p><p><blockquote>在盘前交易中，Novavax表示其两剂Covid-19疫苗对奥密克戎病毒和其他变种表现出“强烈的免疫反应”，该公司股价上涨5.3%。</blockquote></p><p> The Commerce Department is slated to release fresh figures on consumer spending and a key measure of inflation at 8:30 a.m. ET. Economists estimate that core inflation, which excludes often volatile food and energy prices, rose at the fastest annual pace in almost four decades in November. U.S. consumer spending likely increased in November, boosted by job gains and rising wages, high levels of household saving and inflationary pressures.</p><p><blockquote>商务部定于美国东部时间上午8:30发布新的消费者支出数据和一项关键的通胀指标。经济学家估计，核心通胀（不包括经常波动的食品和能源价格）在11月份以近四十年来最快的年度速度上涨。受就业增长和工资上涨、高水平的家庭储蓄和通胀压力的提振，美国11月份消费者支出可能会增加。</blockquote></p><p> Strong inflation data earlier in December helped prompt the Federal Reserve to accelerate awinding down of its pandemic-era stimulus. Brisk demand for goods, disrupted supply chains, temporary shortages and a rebound in travel have pushed inflation higher. Investors and central bankers are worried that&nbsp;the Omicron variant&nbsp;could add additional pressure to inflation.</p><p><blockquote>12月初强劲的通胀数据促使美联储加速结束大流行时期的刺激措施。商品需求旺盛、供应链中断、暂时短缺和旅行反弹推高了通胀。投资者和央行行长担心奥密克戎变体可能会给通胀增加额外压力。</blockquote></p><p> “Inflation is center stage for a lot of people,” said Andrew Cole, head of multiasset in London at Pictet Asset Management. “Inflation is widely expected to peak, if not in the first quarter, the first half of next year. You might have to wait until the second half of next year for central banks to relax.”</p><p><blockquote>百达资产管理公司伦敦多资产主管安德鲁·科尔表示：“对于很多人来说，通货膨胀是中心舞台。”“人们普遍预计通胀将在明年上半年见顶，如果不是在第一季度。各国央行可能要等到明年下半年才会放松。”</blockquote></p><p> Higher inflation and low yields on government bonds have dissuaded some investors from holding them this year, due to diminished returns on keeping them to maturity. In bond markets, the yield on the benchmark 10-year Treasury note ticked up to 1.469% Thursday from 1.457% Wednesday. Yields rise when prices fall.</p><p><blockquote>较高的通胀和较低的政府债券收益率阻止了一些投资者今年持有这些债券，因为持有这些债券到期的回报会减少。在债券市场，基准10年期国债收益率从周三的1.457%升至周四的1.469%。当价格下跌时，收益率上升。</blockquote></p><p> Fresh U.S. jobless claims data are also due at 8:30 a.m. Economists expect first-time applications for unemployment benefits, a proxy for layoffs, to remain exceptionally low in the week ended Dec. 18, as employers try to hold on to workers.</p><p><blockquote>新的美国初请失业金数据也将于上午8:30公布。经济学家预计，截至12月18日当周，首次申请失业救济人数（代表裁员）将保持在异常低的水平，因为雇主试图留住工人。</blockquote></p><p> Overseas, the Stoxx Europe 600 rose 0.4%. Major stock indexes in Asia closed higher, with China’s Shanghai Composite gaining 0.6% and South Korea’s Kospi up 0.5%. Japan’s Nikkei 225 added 0.8%.</p><p><blockquote>海外方面，欧洲斯托克600指数涨0.4%。亚洲主要股指收高，中国上证综指上涨0.6%，韩国综合指数上涨0.5%。日本日经225指数上涨0.8%。</blockquote></p><p> Shares of&nbsp;JD.com&nbsp;fell 7% in Hong Kong trading after Chinese social-media giant&nbsp;Tencent Holdings&nbsp;said it was shedding&nbsp;most of its stake in the online retailer. Shares of Tencent rose 4.2%. Hong Kong’s broader Hang Seng Index gained 0.4%.</p><p><blockquote>在中国社交媒体巨头腾讯控股控股表示将出售其在在线零售商京东的大部分股份后，京东股价在香港交易中下跌7%。腾讯控股股价上涨4.2%。香港整体恒生指数上涨0.4%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/global-stock-markets-dow-update-12-23-2021-11640248354?mod=markets_lead_pos2\">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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/global-stock-markets-dow-update-12-23-2021-11640248354?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188509070","content_text":"U.S. stock futures crept higher ahead of fresh inflation and consumer-spending data that are set to continue shaping monetary policy into next year.\nFutures for the S&P 500 gained 0.2% Thursday. The index climbed for a second day Wednesday as strong economic data helped ease investors’ concerns about the risks posed by Covid-19 and inflation. Contracts for the tech-focused Nasdaq-100 were up 0.1% Thursday, and futures for the Dow Jones Industrial Average added 0.3%.\nIn premarket trading, shares of Novavax gained 5.3% after it said its two-dose Covid-19 vaccine demonstrated “strong immune responses” against Omicron and other variants.\nThe Commerce Department is slated to release fresh figures on consumer spending and a key measure of inflation at 8:30 a.m. ET. Economists estimate that core inflation, which excludes often volatile food and energy prices, rose at the fastest annual pace in almost four decades in November. U.S. consumer spending likely increased in November, boosted by job gains and rising wages, high levels of household saving and inflationary pressures.\nStrong inflation data earlier in December helped prompt the Federal Reserve to accelerate awinding down of its pandemic-era stimulus. Brisk demand for goods, disrupted supply chains, temporary shortages and a rebound in travel have pushed inflation higher. Investors and central bankers are worried that the Omicron variant could add additional pressure to inflation.\n“Inflation is center stage for a lot of people,” said Andrew Cole, head of multiasset in London at Pictet Asset Management. “Inflation is widely expected to peak, if not in the first quarter, the first half of next year. You might have to wait until the second half of next year for central banks to relax.”\nHigher inflation and low yields on government bonds have dissuaded some investors from holding them this year, due to diminished returns on keeping them to maturity. In bond markets, the yield on the benchmark 10-year Treasury note ticked up to 1.469% Thursday from 1.457% Wednesday. Yields rise when prices fall.\nFresh U.S. jobless claims data are also due at 8:30 a.m. Economists expect first-time applications for unemployment benefits, a proxy for layoffs, to remain exceptionally low in the week ended Dec. 18, as employers try to hold on to workers.\nOverseas, the Stoxx Europe 600 rose 0.4%. Major stock indexes in Asia closed higher, with China’s Shanghai Composite gaining 0.6% and South Korea’s Kospi up 0.5%. Japan’s Nikkei 225 added 0.8%.\nShares of JD.com fell 7% in Hong Kong trading after Chinese social-media giant Tencent Holdings said it was shedding most of its stake in the online retailer. Shares of Tencent rose 4.2%. Hong Kong’s broader Hang Seng Index gained 0.4%.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691870704,"gmtCreate":1640175430808,"gmtModify":1640175431388,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691870704","repostId":"1129551297","repostType":4,"repost":{"id":"1129551297","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":1640174131,"share":"https://www.laohu8.com/m/news/1129551297?lang=zh_CN&edition=full","pubTime":"2021-12-22 19:55","market":"us","language":"en","title":"Red Cat shares surged 30,6% in premarket trading<blockquote>红猫股价在盘前交易中飙升30.6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129551297","media":"Tiger Newspress","summary":"Red Cat shares surged 30,6% in premarket trading.\nRed Cat Holdings says that its subsidiary Teal Dro","content":"<p>Red Cat&nbsp;shares&nbsp;surged&nbsp;30,6%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/2dd69670debdab888c7690ec04df3cbf\" tg-width=\"717\" tg-height=\"597\" width=\"100%\" height=\"auto\"></p><p><blockquote>红猫股价在盘前交易中飙升30.6%。</blockquote></p><p> Red Cat Holdings&nbsp;says that its subsidiary Teal Drones has been&nbsp;awarded&nbsp;a firm-fixed-price, multiple award blanket purchase agreement(BPA) by the United States Customs and Border Protection as one of five contractors.</p><p><blockquote>Red Cat Holdings表示，其子公司Teal Drones已作为五家承包商之一获得美国海关和边境保护局授予的固定价格、多个奖项的一揽子采购协议（BPA）。</blockquote></p><p> The BPA has an estimated value of $90 million in total over a 5-year ordering period.</p><p><blockquote>在5年的订购期内，BPA的总价值估计为9000万美元。</blockquote></p><p> Through the BPA, Department of Homeland Security agencies can place orders for unmanned aircraft systems.</p><p><blockquote>通过BPA，国土安全部机构可以订购无人驾驶飞机系统。</blockquote></p><p> The drones will provide supplemental airborne reconnaissance, surveillance, and tracking capability.</p><p><blockquote>这些无人机将提供补充的机载侦察、监视和跟踪能力。</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>Red Cat shares surged 30,6% in premarket trading<blockquote>红猫股价在盘前交易中飙升30.6%</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; 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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\">\nRed Cat shares surged 30,6% in premarket trading<blockquote>红猫股价在盘前交易中飙升30.6%</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\">2021-12-22 19:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Red Cat&nbsp;shares&nbsp;surged&nbsp;30,6%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/2dd69670debdab888c7690ec04df3cbf\" tg-width=\"717\" tg-height=\"597\" width=\"100%\" height=\"auto\"></p><p><blockquote>红猫股价在盘前交易中飙升30.6%。</blockquote></p><p> Red Cat Holdings&nbsp;says that its subsidiary Teal Drones has been&nbsp;awarded&nbsp;a firm-fixed-price, multiple award blanket purchase agreement(BPA) by the United States Customs and Border Protection as one of five contractors.</p><p><blockquote>Red Cat Holdings表示，其子公司Teal Drones已作为五家承包商之一获得美国海关和边境保护局授予的固定价格、多个奖项的一揽子采购协议（BPA）。</blockquote></p><p> The BPA has an estimated value of $90 million in total over a 5-year ordering period.</p><p><blockquote>在5年的订购期内，BPA的总价值估计为9000万美元。</blockquote></p><p> Through the BPA, Department of Homeland Security agencies can place orders for unmanned aircraft systems.</p><p><blockquote>通过BPA，国土安全部机构可以订购无人驾驶飞机系统。</blockquote></p><p> The drones will provide supplemental airborne reconnaissance, surveillance, and tracking capability.</p><p><blockquote>这些无人机将提供补充的机载侦察、监视和跟踪能力。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RCAT":"Red Cat Holdings Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129551297","content_text":"Red Cat shares surged 30,6% in premarket trading.\nRed Cat Holdings says that its subsidiary Teal Drones has been awarded a firm-fixed-price, multiple award blanket purchase agreement(BPA) by the United States Customs and Border Protection as one of five contractors.\nThe BPA has an estimated value of $90 million in total over a 5-year ordering period.\nThrough the BPA, Department of Homeland Security agencies can place orders for unmanned aircraft systems.\nThe drones will provide supplemental airborne reconnaissance, surveillance, and tracking capability.","news_type":1,"symbols_score_info":{"RCAT":0.9}},"isVote":1,"tweetType":1,"viewCount":1153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693747941,"gmtCreate":1640089925284,"gmtModify":1640089925439,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581036261146444","idStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693747941","repostId":"1180762572","repostType":4,"isVote":1,"tweetType":1,"viewCount":1080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":840218409,"gmtCreate":1635648974062,"gmtModify":1635648974062,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/840218409","repostId":"2179226336","repostType":4,"isVote":1,"tweetType":1,"viewCount":1009,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604318127,"gmtCreate":1639348552659,"gmtModify":1639348552820,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604318127","repostId":"2190679207","repostType":4,"isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606959164,"gmtCreate":1638826395446,"gmtModify":1638826479229,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/606959164","repostId":"1189410190","repostType":4,"repost":{"id":"1189410190","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":1638804387,"share":"https://www.laohu8.com/m/news/1189410190?lang=zh_CN&edition=full","pubTime":"2021-12-06 23:26","market":"us","language":"en","title":"Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189410190","media":"Tiger Newspress","summary":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel book","content":"<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨。航空公司、邮轮公司和旅游预订股票在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</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; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks linked to the reopening of the economy gained on Monday<blockquote>与经济重新开放相关的股票周一上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-06 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨。航空公司、邮轮公司和旅游预订股票在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NCLH":"挪威邮轮","SAVE":"Spirit Airlines","EXPE":"Expedia","LUV":"西南航空","AAL":"美国航空","JBLU":"捷蓝航空","ABNB":"爱彼迎","ALK":"阿拉斯加航空集团有限公司","RCL":"皇家加勒比邮轮","UAL":"联合大陆航空","DAL":"达美航空","CCL":"嘉年华邮轮","BA":"波音","BKNG":"Booking Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189410190","content_text":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel booking stocks jumped in morning 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is a failed country","listText":"Afghanistan is a failed country","text":"Afghanistan is a failed country","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819304492","repostId":"2162847016","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153278239,"gmtCreate":1625030402421,"gmtModify":1633945622174,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"High and higher","listText":"High and higher","text":"High and 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plane","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":1,"link":"https://laohu8.com/post/185726981","repostId":"2143782907","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113625354,"gmtCreate":1622612613278,"gmtModify":1634099925242,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Long uptrend","listText":"Long uptrend","text":"Long uptrend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/113625354","repostId":"1106176005","repostType":4,"repost":{"id":"1106176005","kind":"news","pubTimestamp":1622588821,"share":"https://www.laohu8.com/m/news/1106176005?lang=zh_CN&edition=full","pubTime":"2021-06-02 07:07","market":"us","language":"en","title":"S&P 500 dips, as healthcare weighs; Dow ends higher<blockquote>随着医疗保健的压力，标普500下跌；道指收高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106176005","media":"Reuters","summary":"The S&P 500dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.The S&P 500 financial sectorhit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector3.9%, its biggest $one$-day gain in nearly four months. The heavyweight tech sectorfell while the healthcare sectorwas dragged down by a weak profit forec","content":"<p>The S&amp;P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.</p><p><blockquote>标普500(.SPX)周二下跌，医疗保健和科技股的下跌被能源和金融股的上涨所抵消，投资者权衡最新的美国经济数据是否有反弹和通胀上升的迹象。</blockquote></p><p>The S&amp;P 500 financial sector(.SPSY)hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector(.SPNY)3.9%, its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day gain in nearly four months. The heavyweight tech sector(.SPLRCT)fell while the healthcare sector(.SPXHC)was dragged down by a weak profit forecast from <a href=\"https://laohu8.com/S/ABT\">Abbott Laboratories</a>(ABT.N).</p><p><blockquote>标普500金融板块(.SPSY)创历史新高，而燃料需求预期增长提振油价，并帮助提振能源板块(.SPNY)上涨3.9%，为最大<a href=\"https://laohu8.com/S/AONE\">一</a>-近四个月来的日涨幅。重量级科技板块(.SPLRCT)下跌，而医疗保健板块(.SPXHC)则受到来自<a href=\"https://laohu8.com/S/ABT\">雅培实验室</a>（N部）。</blockquote></p><p>Data showed U.S.manufacturing activity pickedup in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.</p><p><blockquote>数据显示，由于经济重新开放中被压抑的需求提振了订单，美国5月份制造业活动有所回升。但由于原材料和劳动力短缺，未完成的工作堆积起来。</blockquote></p><p>\"People came back from a holiday weekend convinced that the economy is recovering nicely and that any inflation that we might be seeing in labor and other costs is temporary,\" Peter Tuz, president of <a href=\"https://laohu8.com/S/CCF\">Chase</a> Investment Counsel in Charlottesville, Virginia.</p><p><blockquote>“人们从假期周末回来后确信经济正在良好复苏，我们可能在劳动力和其他成本方面看到的任何通胀都是暂时的，”<a href=\"https://laohu8.com/S/CCF\">追逐</a>弗吉尼亚州夏洛茨维尔的投资顾问。</blockquote></p><p>The Dow Jones Industrial Average(.DJI)rose 45.86 points, or 0.13%, to 34,575.31; the S&amp;P 500(.SPX)lost 2.07 points, or 0.05%, at 4,202.04; and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite(.IXIC)dropped 12.26 points, or 0.09%, to 13,736.48.</p><p><blockquote>道琼工业指数(.DJI)涨45.86点，或0.13%，报34,575.31；标普500(.SPX)下跌2.07点，或0.05%，报4,202.04点；和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>综合指数(.IXIC)下跌12.26点，或0.09%，至13,736.48点。</blockquote></p><p>Along with sharp gains for financials and energy, the small-cap Russell 2000(.RUT)rose 1.1% on Tuesday, underscoring strength for segments of the stock market expected to do particularly well in an expanding economy.</p><p><blockquote>随着金融和能源股的大幅上涨，小盘股罗素2000指数(.RUT)周二上涨1.1%，突显了预计在经济扩张中表现尤其出色的股市板块的强势。</blockquote></p><p>While the S&amp;P 500 remains less than 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.</p><p><blockquote>尽管标普500在连续四个月上涨后仍不到历史高点的1%，但投资者担心通胀上升是否会打击股价。</blockquote></p><p>\"We have supply chain issues, delays, price increases, pricing pressures in general, we have got employers saying they have got difficulty sourcing labor,\" said Kristina Hooper, chief global market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a> in <a href=\"https://laohu8.com/S/NWY\">New York</a>.</p><p><blockquote>首席全球市场策略师克里斯蒂娜·胡珀(Kristina Hooper)表示：“我们面临供应链问题、延误、价格上涨、总体定价压力，雇主表示他们很难找到劳动力。”<a href=\"https://laohu8.com/S/IVZ\">景顺</a>在<a href=\"https://laohu8.com/S/NWY\">纽约</a>.</blockquote></p><p>\"So this is a microcosm of what we are already hearing about and seeing in the overall economy and it's just a reminder that inflation remains a concern.\"</p><p><blockquote>“因此，这是我们在整体经济中已经听到和看到的情况的一个缩影，它只是提醒人们通货膨胀仍然是一个问题。”</blockquote></p><p>A Wall St. sign is seen near the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange (NYSE) in <a href=\"https://laohu8.com/S/NGD\">New</a> York <a href=\"https://laohu8.com/S/CHCO\">City</a>, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo</p><p><blockquote>附近可以看到华尔街的标志<a href=\"https://laohu8.com/S/NYRT\">纽约</a>纽约证券交易所<a href=\"https://laohu8.com/S/NGD\">新的</a>约克<a href=\"https://laohu8.com/S/CHCO\">城市</a>，美国，2021年5月4日。路透社/Brendan McDermid/资料照片</blockquote></p><p>Stock markets on Friday brushed off a surge inkey inflation readingsfor April following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.</p><p><blockquote>在美联储官员保证央行超宽松货币政策将继续实施后，周五股市没有出现四月份关键通胀数据的飙升。</blockquote></p><p>Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.</p><p><blockquote>明尼阿波利斯联邦储备银行行长尼尔·卡什卡利和美联储负责监管的副主席兰德尔·夸尔斯周二重申了价格上涨将是暂时的观点。</blockquote></p><p>This week's focus will be on a raft of economic data, culminating with U.S. payrolls due on Friday.</p><p><blockquote>本周的焦点将是大量经济数据，最终将于周五公布的美国就业数据。</blockquote></p><p>Abbott Labs shares fell 9.3% after the company cut itsfull-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.</p><p><blockquote>雅培实验室(Abbott Labs)下调2021年全年利润预期，理由是随着越来越多的美国人接种疫苗，预计其COVID-19检测收入将大幅下降，该公司股价下跌9.3%。其他测试制造商的股价也下跌。</blockquote></p><p>Cloudera Inc(CLDR.N)shares jumped 23.9% after private equity firms KKR &amp; Co(KKR.N)and Clayton Dubilier &amp; Rice LLCagreed to take the data analytics firm private.</p><p><blockquote>Cloudera Inc(CLDR.N)在私募股权公司KKR&amp;Co(KKR)之后，股价上涨23.9%。N)和Clayton Dubilier&amp;Rice LLCA同意将这家数据分析公司私有化。</blockquote></p><p>A group of“meme stocks” extended gainsfrom the previous week, with shares of <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> Holdings Inc(AMC.N)up 22.7% after the movie theater chain said it sold $230 million of its stock.</p><p><blockquote>一批“模因股”延续了前一周的涨幅，其中<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>Holdings Inc(AMC.N)上涨22.7%，此前这家连锁电影院表示出售了价值2.3亿美元的股票。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 2.54-to-1 ratio; on <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>, a 1.79-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为2.54比1；在<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>1.79比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 73 new 52-week highs and no new lows; the Nasdaq Composite recorded 168 new highs and 25 new lows.</p><p><blockquote>标普500创下73个52周新高，无新低；纳斯达克综合指数录得168个新高和25个新低。</blockquote></p><p>About 10.7 billion shares changed hands in U.S. exchanges, compared with the 10.5 billion daily average over the last 20 sessions.</p><p><blockquote>美国交易所约有107亿股易手，而过去20个交易日的日均交易量为105亿股。</blockquote></p><p><b>Here are company's financial statements：</b></p><p><blockquote><b>以下是公司的财务报表：</b></blockquote></p><p><a href=\"https://laohu8.com/NW/1184181912\" target=\"_blank\"><b>Zoom reports blowout earnings but warns of a coming slowdown</b></a></p><p><blockquote><a href=\"https://laohu8.com/NW/1184181912\" target=\"_blank\"><b>Zoom报告盈利井喷，但警告即将放缓</b></a></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 dips, as healthcare weighs; Dow ends higher<blockquote>随着医疗保健的压力，标普500下跌；道指收高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; 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color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 dips, as healthcare weighs; Dow ends higher<blockquote>随着医疗保健的压力，标普500下跌；道指收高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-06-02 07:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.</p><p><blockquote>标普500(.SPX)周二下跌，医疗保健和科技股的下跌被能源和金融股的上涨所抵消，投资者权衡最新的美国经济数据是否有反弹和通胀上升的迹象。</blockquote></p><p>The S&amp;P 500 financial sector(.SPSY)hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector(.SPNY)3.9%, its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day gain in nearly four months. The heavyweight tech sector(.SPLRCT)fell while the healthcare sector(.SPXHC)was dragged down by a weak profit forecast from <a href=\"https://laohu8.com/S/ABT\">Abbott Laboratories</a>(ABT.N).</p><p><blockquote>标普500金融板块(.SPSY)创历史新高，而燃料需求预期增长提振油价，并帮助提振能源板块(.SPNY)上涨3.9%，为最大<a href=\"https://laohu8.com/S/AONE\">一</a>-近四个月来的日涨幅。重量级科技板块(.SPLRCT)下跌，而医疗保健板块(.SPXHC)则受到来自<a href=\"https://laohu8.com/S/ABT\">雅培实验室</a>（N部）。</blockquote></p><p>Data showed U.S.manufacturing activity pickedup in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.</p><p><blockquote>数据显示，由于经济重新开放中被压抑的需求提振了订单，美国5月份制造业活动有所回升。但由于原材料和劳动力短缺，未完成的工作堆积起来。</blockquote></p><p>\"People came back from a holiday weekend convinced that the economy is recovering nicely and that any inflation that we might be seeing in labor and other costs is temporary,\" Peter Tuz, president of <a href=\"https://laohu8.com/S/CCF\">Chase</a> Investment Counsel in Charlottesville, Virginia.</p><p><blockquote>“人们从假期周末回来后确信经济正在良好复苏，我们可能在劳动力和其他成本方面看到的任何通胀都是暂时的，”<a href=\"https://laohu8.com/S/CCF\">追逐</a>弗吉尼亚州夏洛茨维尔的投资顾问。</blockquote></p><p>The Dow Jones Industrial Average(.DJI)rose 45.86 points, or 0.13%, to 34,575.31; the S&amp;P 500(.SPX)lost 2.07 points, or 0.05%, at 4,202.04; and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite(.IXIC)dropped 12.26 points, or 0.09%, to 13,736.48.</p><p><blockquote>道琼工业指数(.DJI)涨45.86点，或0.13%，报34,575.31；标普500(.SPX)下跌2.07点，或0.05%，报4,202.04点；和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>综合指数(.IXIC)下跌12.26点，或0.09%，至13,736.48点。</blockquote></p><p>Along with sharp gains for financials and energy, the small-cap Russell 2000(.RUT)rose 1.1% on Tuesday, underscoring strength for segments of the stock market expected to do particularly well in an expanding economy.</p><p><blockquote>随着金融和能源股的大幅上涨，小盘股罗素2000指数(.RUT)周二上涨1.1%，突显了预计在经济扩张中表现尤其出色的股市板块的强势。</blockquote></p><p>While the S&amp;P 500 remains less than 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.</p><p><blockquote>尽管标普500在连续四个月上涨后仍不到历史高点的1%，但投资者担心通胀上升是否会打击股价。</blockquote></p><p>\"We have supply chain issues, delays, price increases, pricing pressures in general, we have got employers saying they have got difficulty sourcing labor,\" said Kristina Hooper, chief global market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a> in <a href=\"https://laohu8.com/S/NWY\">New York</a>.</p><p><blockquote>首席全球市场策略师克里斯蒂娜·胡珀(Kristina Hooper)表示：“我们面临供应链问题、延误、价格上涨、总体定价压力，雇主表示他们很难找到劳动力。”<a href=\"https://laohu8.com/S/IVZ\">景顺</a>在<a href=\"https://laohu8.com/S/NWY\">纽约</a>.</blockquote></p><p>\"So this is a microcosm of what we are already hearing about and seeing in the overall economy and it's just a reminder that inflation remains a concern.\"</p><p><blockquote>“因此，这是我们在整体经济中已经听到和看到的情况的一个缩影，它只是提醒人们通货膨胀仍然是一个问题。”</blockquote></p><p>A Wall St. sign is seen near the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange (NYSE) in <a href=\"https://laohu8.com/S/NGD\">New</a> York <a href=\"https://laohu8.com/S/CHCO\">City</a>, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo</p><p><blockquote>附近可以看到华尔街的标志<a href=\"https://laohu8.com/S/NYRT\">纽约</a>纽约证券交易所<a href=\"https://laohu8.com/S/NGD\">新的</a>约克<a href=\"https://laohu8.com/S/CHCO\">城市</a>，美国，2021年5月4日。路透社/Brendan McDermid/资料照片</blockquote></p><p>Stock markets on Friday brushed off a surge inkey inflation readingsfor April following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.</p><p><blockquote>在美联储官员保证央行超宽松货币政策将继续实施后，周五股市没有出现四月份关键通胀数据的飙升。</blockquote></p><p>Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.</p><p><blockquote>明尼阿波利斯联邦储备银行行长尼尔·卡什卡利和美联储负责监管的副主席兰德尔·夸尔斯周二重申了价格上涨将是暂时的观点。</blockquote></p><p>This week's focus will be on a raft of economic data, culminating with U.S. payrolls due on Friday.</p><p><blockquote>本周的焦点将是大量经济数据，最终将于周五公布的美国就业数据。</blockquote></p><p>Abbott Labs shares fell 9.3% after the company cut itsfull-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.</p><p><blockquote>雅培实验室(Abbott Labs)下调2021年全年利润预期，理由是随着越来越多的美国人接种疫苗，预计其COVID-19检测收入将大幅下降，该公司股价下跌9.3%。其他测试制造商的股价也下跌。</blockquote></p><p>Cloudera Inc(CLDR.N)shares jumped 23.9% after private equity firms KKR &amp; Co(KKR.N)and Clayton Dubilier &amp; Rice LLCagreed to take the data analytics firm private.</p><p><blockquote>Cloudera Inc(CLDR.N)在私募股权公司KKR&amp;Co(KKR)之后，股价上涨23.9%。N)和Clayton Dubilier&amp;Rice LLCA同意将这家数据分析公司私有化。</blockquote></p><p>A group of“meme stocks” extended gainsfrom the previous week, with shares of <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> Holdings Inc(AMC.N)up 22.7% after the movie theater chain said it sold $230 million of its stock.</p><p><blockquote>一批“模因股”延续了前一周的涨幅，其中<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>Holdings Inc(AMC.N)上涨22.7%，此前这家连锁电影院表示出售了价值2.3亿美元的股票。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 2.54-to-1 ratio; on <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>, a 1.79-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为2.54比1；在<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>1.79比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 73 new 52-week highs and no new lows; the Nasdaq Composite recorded 168 new highs and 25 new lows.</p><p><blockquote>标普500创下73个52周新高，无新低；纳斯达克综合指数录得168个新高和25个新低。</blockquote></p><p>About 10.7 billion shares changed hands in U.S. exchanges, compared with the 10.5 billion daily average over the last 20 sessions.</p><p><blockquote>美国交易所约有107亿股易手，而过去20个交易日的日均交易量为105亿股。</blockquote></p><p><b>Here are company's financial statements：</b></p><p><blockquote><b>以下是公司的财务报表：</b></blockquote></p><p><a href=\"https://laohu8.com/NW/1184181912\" target=\"_blank\"><b>Zoom reports blowout earnings but warns of a coming slowdown</b></a></p><p><blockquote><a href=\"https://laohu8.com/NW/1184181912\" target=\"_blank\"><b>Zoom报告盈利井喷，但警告即将放缓</b></a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/business/sp-500-dips-healthcare-weighs-dow-ends-higher-2021-06-01/\">Reuters</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":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500 ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".IXIC":"NASDAQ Composite","OEF":"标普100指数ETF-iShares","SH":"做空标普500-Proshares",".SPX":"S&P 500 Index","OEX":"标普100","IVV":"标普500ETF-iShares","SPXU":"三倍做空标普500ETF-ProShares","SPY":"标普500ETF"},"source_url":"https://www.reuters.com/business/sp-500-dips-healthcare-weighs-dow-ends-higher-2021-06-01/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106176005","content_text":"The S&P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.The S&P 500 financial sector(.SPSY)hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector(.SPNY)3.9%, its biggest one-day gain in nearly four months. The heavyweight tech sector(.SPLRCT)fell while the healthcare sector(.SPXHC)was dragged down by a weak profit forecast from Abbott Laboratories(ABT.N).Data showed U.S.manufacturing activity pickedup in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.\"People came back from a holiday weekend convinced that the economy is recovering nicely and that any inflation that we might be seeing in labor and other costs is temporary,\" Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average(.DJI)rose 45.86 points, or 0.13%, to 34,575.31; the S&P 500(.SPX)lost 2.07 points, or 0.05%, at 4,202.04; and the Nasdaq Composite(.IXIC)dropped 12.26 points, or 0.09%, to 13,736.48.Along with sharp gains for financials and energy, the small-cap Russell 2000(.RUT)rose 1.1% on Tuesday, underscoring strength for segments of the stock market expected to do particularly well in an expanding economy.While the S&P 500 remains less than 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.\"We have supply chain issues, delays, price increases, pricing pressures in general, we have got employers saying they have got difficulty sourcing labor,\" said Kristina Hooper, chief global market strategist at Invesco in New York.\"So this is a microcosm of what we are already hearing about and seeing in the overall economy and it's just a reminder that inflation remains a concern.\"A Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid/File PhotoStock markets on Friday brushed off a surge inkey inflation readingsfor April following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.This week's focus will be on a raft of economic data, culminating with U.S. payrolls due on Friday.Abbott Labs shares fell 9.3% after the company cut itsfull-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.Cloudera Inc(CLDR.N)shares jumped 23.9% after private equity firms KKR & Co(KKR.N)and Clayton Dubilier & Rice LLCagreed to take the data analytics firm private.A group of“meme stocks” extended gainsfrom the previous week, with shares of AMC Entertainment Holdings Inc(AMC.N)up 22.7% after the movie theater chain said it sold $230 million of its stock.Advancing issues outnumbered decliners on the NYSE by a 2.54-to-1 ratio; on Nasdaq, a 1.79-to-1 ratio favored advancers.The S&P 500 posted 73 new 52-week highs and no new lows; the Nasdaq Composite recorded 168 new highs and 25 new lows.About 10.7 billion shares changed hands in U.S. exchanges, compared with the 10.5 billion daily average over the last 20 sessions.Here are company's financial statements：Zoom reports blowout earnings but warns of a coming slowdown","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SDS":0.9,"UPRO":0.9,"SPXU":0.9,"OEF":0.9,"SPY":0.9,"SSO":0.9,"OEX":0.9,"SH":0.9,".SPX":0.9,".IXIC":0.9,"ESmain":0.9,"IVV":0.9}},"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105979131,"gmtCreate":1620266602623,"gmtModify":1634206518536,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Recovery","listText":"Recovery","text":"Recovery","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/105979131","repostId":"2133652936","repostType":4,"isVote":1,"tweetType":1,"viewCount":716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346430507,"gmtCreate":1618100083509,"gmtModify":1634294941857,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Ho about Moderna?","listText":"Ho about Moderna?","text":"Ho about Moderna?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/346430507","repostId":"2126038125","repostType":4,"isVote":1,"tweetType":1,"viewCount":588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":698497035,"gmtCreate":1640486155062,"gmtModify":1640486155220,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/698497035","repostId":"1144001147","repostType":4,"repost":{"id":"1144001147","kind":"news","pubTimestamp":1640485026,"share":"https://www.laohu8.com/m/news/1144001147?lang=zh_CN&edition=full","pubTime":"2021-12-26 10:17","market":"us","language":"en","title":"A Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144001147","media":"InvestorPlace","summary":"In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, t","content":"<p><div> In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there...</p><p><blockquote><div>去年，Ocugen（纳斯达克股票代码：OCGN）股票仍然是表现最好的股票之一。在此期间，该股已大涨超500%。该股的上涨始于2020年12月21日之后——从那里开始……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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>A Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</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\">\nA Year After Announcing a Big Partnership, Ocugen Is in a Sorry State<blockquote>宣布大合作伙伴关系一年后，Ocugen的处境很糟糕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-12-26 10:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there...</p><p><blockquote><div>去年，Ocugen（纳斯达克股票代码：OCGN）股票仍然是表现最好的股票之一。在此期间，该股已大涨超500%。该股的上涨始于2020年12月21日之后——从那里开始……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/\">InvestorPlace</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":{"OCGN":"Ocugen"},"source_url":"https://investorplace.com/2021/12/a-year-after-its-big-partnership-with-bharat-ocgn-stock-is-in-a-sorry-state/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144001147","content_text":"In the last year, Ocugen(NASDAQ:OCGN) stock is still among the top performers. During this period, the stock has surged by over 500%. The stock’s ascent began after Dec. 21, 2020 — starting from there, the stock is up over 1,600%.\nHowever, it’s worth noting that OCGN stock was trading well below one dollar before it stitched a partnership with Bharat Biotech. The companies announced plans to begin manufacturing Covid-19 vaccines in the U.S. on Dec. 22 last year.\nBeyond the news of this partnership, there has been little to cheer for investors. OCGN stock traded at all-time highs of $18.77 in February and reached slightly lower peaks in May and November. The stock traded at $5.12 at the start of Dec. 23.\nOcugen will continue to underperform going forward. Even after the downtrend in the last few months, OCGN stock should be avoided.\nLet’s talk about the reasons to be bearish.\nFDA Approval Remains Elusive\nPfizer(NYSE:PFE) and Moderna(NASDAQ:MRNA) have been leaders in the vaccine race in the U.S. In a country where more than 70% of the population has already been vaccinated, Ocugen has yet to secure an approval from the U.S. Food and Drug Administration.\nBack in June, the biotech company’s application for emergency use authorization was rejected by the FDA. The recommendation by the FDA was to file for a biologics license application, which implies full approval.\nIn November, Ocugen announced that the FDA has “issued a clinical hold on the Company’s Investigational New Drug application (IND) to evaluate the COVID-19 vaccine candidate.” The FDA will be identifying the specific deficiencies that form a basis for the clinical hold. Once Ocugen addresses these deficiencies, there will be some progress.\nThe key point is that it’s been over a year since Ocugen announced the partnership with Bharat Biotech. The company has still been unsuccessful from an approval perspective.\nIn July, Ocugen had also initiated a rolling submission to Health Canada for the vaccine. There is no positive news on that front either.\nLet’s imagine a scenario where Ocugen receives an approval for vaccine use in Q1 2022. This is very unlikely. However, even in an optimistic case scenario, Ocugen needs to compete in a market where vaccination percentage is high. There is unlikely to be a case for strong revenue and cash flow growth.\nCan Omicron Provide a Lifeline for OCGN Stock?\nThe omicron variant has been a cause of concern for governments globally. Ocugen and partner Bharat Biotech are currently studying the effectiveness of the vaccine against the variant.\nIf the vaccine proves to be effective, can it be a game-changer for Ocugen? Most likely, no.\nFirst and foremost, Moderna has announced that its Covid-19 booster increases neutralizing antibodies 37-fold against Omicron variant.\nFurthermore, Pfizer has announced that a third dose increases the “neutralizing antibody by 25-fold compared to two doses against the Omicron variant.”\nClearly, the leading vaccine makers have an edge. Even if Ocugen announces that its vaccine is effective against the omicron variant, the stock is unlikely to trend higher.\nPeople who have already taken two shots of Moderna or Pfizer are unlikely to pursue a booster shot with Ocugen. Additionally, Ocugen is still struggling for approval.\nIt’s also worth noting that Ocugen needs to share revenue with Bharat Biotech. The visibility for healthy cash flows is therefore very unlikely.\nOCGN Stock Will Trend Lower\nOCGN stock is likely to continue trending lower in the coming months. Without an approval, the company is rapidly losing out on any revenue and cash flow potential.\nThe company is building a pipeline of drugs for various indications. However, the pipeline for various indications is still at a pre-clinical stage.\nThe stock trend will therefore be dictated by the outcome of Covid-19 vaccine approval and revenue potential. Things seem bleak on that front.\nIt also seems unlikely that Ocugen has a capability to expand the vaccine partnership with Bharat Biotech to other countries.","news_type":1,"symbols_score_info":{"OCGN":0.9}},"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608574336,"gmtCreate":1638768041155,"gmtModify":1638768041155,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/608574336","repostId":"1179313612","repostType":4,"repost":{"id":"1179313612","kind":"news","pubTimestamp":1638745398,"share":"https://www.laohu8.com/m/news/1179313612?lang=zh_CN&edition=full","pubTime":"2021-12-06 07:03","market":"us","language":"en","title":"Game Stop, Toll Brothers, Costco, CVS, and Other Stocks to Watch This Week<blockquote>Game Stop、Toll Brothers、Costco、CVS和其他本周值得关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179313612","media":"Barrons","summary":"Meme stock darling GameStop headlines this week’s earnings report lineup. The videogame retailer rep","content":"<p>Meme stock darling <a href=\"https://laohu8.com/S/GME\">GameStop</a> headlines this week’s earnings report lineup. The videogame retailer reports results after the market closes on Wednesday. <a href=\"https://laohu8.com/S/AZO\">AutoZone</a>, Casey’s <a href=\"https://laohu8.com/S/BGC\">General</a> Stores, and <a href=\"https://laohu8.com/S/TOL\">Toll Brothers</a> report earnings on Tuesday, followed by <a href=\"https://laohu8.com/S/BF.A\">Brown-Forman</a> and <a href=\"https://laohu8.com/S/CPB\">Campbell Soup</a> on Wednesday. <a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>, <a href=\"https://laohu8.com/S/COST\">Costco</a> Wholesale, and <a href=\"https://laohu8.com/S/HRL\">Hormel</a> Foods round things out on Thursday.</p><p><blockquote>模因股票宠儿<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>本周财报阵容头条。这家视频游戏零售商将在周三收盘后公布业绩。<a href=\"https://laohu8.com/S/AZO\">AutoZone</a>，凯西的<a href=\"https://laohu8.com/S/BGC\">一般的</a>商店，以及<a href=\"https://laohu8.com/S/TOL\">托尔兄弟</a>周二公布收益，随后<a href=\"https://laohu8.com/S/BF.A\">布朗-福尔曼</a>和<a href=\"https://laohu8.com/S/CPB\">坎贝尔汤</a>星期三。<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>,<a href=\"https://laohu8.com/S/COST\">Costco</a>批发，及<a href=\"https://laohu8.com/S/HRL\">荷美尔</a>周四的食物使事情更加圆满。</blockquote></p><p> On Monday, <a href=\"https://laohu8.com/S/UNP\">Union Pacific</a> will hold a conference call to discuss its climate action plan. <a href=\"https://laohu8.com/S/MCK\">McKesson</a> and <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a> host their 2021 investor days on Wednesday, followed by <a href=\"https://laohu8.com/S/CVS\">CVS Health</a> and <a href=\"https://laohu8.com/S/TSN\">Tyson</a> Foods on Thursday.</p><p><blockquote>周一，<a href=\"https://laohu8.com/S/UNP\">联合太平洋</a>将召开电话会议讨论其气候行动计划。<a href=\"https://laohu8.com/S/MCK\">麦克森</a>和<a href=\"https://laohu8.com/S/LUV\">西南航空</a>周三举办2021年投资者日，随后<a href=\"https://laohu8.com/S/CVS\">CVS健康</a>和<a href=\"https://laohu8.com/S/TSN\">泰森</a>周四的食物。</blockquote></p><p> The Federal Reserve’s report on consumer credit data for October will be released on Tuesday. On Thursday, the U.S. Labor Department reports initial jobless claims for the week ending on Dec. 4.</p><p><blockquote>美联储10月消费者信贷数据报告将于周二公布。周四，美国劳工部公布了截至12月4日当周的首次申请失业救济人数。</blockquote></p><p> The Bureau of Labor Statistics releases the consumer price index for November on Friday. The consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously.</p><p><blockquote>美国劳工统计局周五发布11月份消费者价格指数。市场普遍预期同比增长6.7%，比10月份高出半个百分点。排除波动较大的食品和能源价格的核心CPI预计将上涨4.8%，而此前为4.6%。</blockquote></p><p> <b>Monday 12/6</b></p><p><blockquote><b>星期一12/6</b></blockquote></p><p> Union Pacific holds a conference call to discuss its climate action plan.</p><p><blockquote>联合太平洋公司召开电话会议讨论其气候行动计划。</blockquote></p><p> <b>Tuesday 12/7</b></p><p><blockquote><b>星期二12/7</b></blockquote></p><p> AutoZone, Casey’s General Stores, and Toll Brothers announce quarterly results.</p><p><blockquote>AutoZone、Casey’s General Stores和Toll Brothers公布季度业绩。</blockquote></p><p> The Federal Reserve reports on consumer credit data for October. After falling slightly last year, total outstanding consumer debt has risen an average of $20 billion a month through September, and stands at a record $4.37 trillion.</p><p><blockquote>美联储报告10月份消费者信贷数据。继去年小幅下降后，截至9月份，未偿消费者债务总额平均每月增加200亿美元，达到创纪录的4.37万亿美元。</blockquote></p><p> <b>Wednesday 12/8</b></p><p><blockquote><b>星期三12/8</b></blockquote></p><p> The BLS releases the Job Openings and Labor Turnover Survey. Economists forecast 10.5 million job openings on the last business day of October, only 600,000 less than the record high of 11.1 million in July.</p><p><blockquote>BLS发布职位空缺和劳动力流动调查。经济学家预测10月最后一个工作日将有1050万个职位空缺，仅比7月1110万的历史新高少60万个。</blockquote></p><p> <a href=\"https://laohu8.com/S/BF.B\">Brown-Forman</a>, Campbell Soup, and GameStop report earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/BF.B\">布朗-福尔曼</a>、金宝汤和游戏驿站公布财报。</blockquote></p><p> McKesson and <a href=\"https://laohu8.com/S/OKSB\">Southwest</a> Airlines host their 2021 investor days.</p><p><blockquote>麦克森和<a href=\"https://laohu8.com/S/OKSB\">西南</a>航空公司举办2021年投资者日。</blockquote></p><p> <a href=\"https://laohu8.com/S/EW\">Edwards Lifesciences</a> holds an investor conference in Irvine, Calif. The company will discuss its product pipeline as well as its financial outlook for 2022.</p><p><blockquote><a href=\"https://laohu8.com/S/EW\">爱德华兹生命科学公司</a>在加州尔湾举行投资者会议。该公司将讨论其产品线以及2022年的财务前景。</blockquote></p><p> The Bank of Canada announces its monetary-policy decision. The central bank is expected to keep its key short-term interest rate unchanged at 0.25%. At its late-October meeting, the bank ended its quantitative-easing program and signaled that its first interest-rate hike would be earlier in 2022 than had been expected.</p><p><blockquote>加拿大央行宣布货币政策决定。预计央行将维持关键短期利率在0.25%不变。在10月底的会议上，央行结束了量化宽松计划，并表示首次加息将于2022年早于预期。</blockquote></p><p> <b>Thursday 12/9</b></p><p><blockquote><b>星期四12/9</b></blockquote></p><p> Broadcom, Costco Wholesale, and Hormel Foods hold conference calls to discuss quarterly results.</p><p><blockquote>Broadcom、Costco Wholesale和Hormel Foods在评级召开会议讨论季度业绩。</blockquote></p><p> CVS Health and Tyson Foods host their annual investor days.</p><p><blockquote>CVS Health和泰森食品举办年度投资者日。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Dec. 4. Jobless claims averaged 238,750 in November, the lowest since the beginning of the pandemic, and just 24,750 more than in February of 2020.</p><p><blockquote>劳工部报告了截至12月4日当周的首次申请失业救济人数。11月份平均申请失业救济人数为238,750人，为大流行开始以来的最低水平，仅比2020年2月增加24,750人。</blockquote></p><p> <b>Friday 12/10</b></p><p><blockquote><b>星期五12/10</b></blockquote></p><p> Archer-Daniels-Midland holds its global investor day.</p><p><blockquote>阿彻-丹尼尔斯-米德兰举办全球投资者日。</blockquote></p><p> <a href=\"https://laohu8.com/S/CNC\">Centene</a> holds an investor meeting and will provide financial guidance for 2022.</p><p><blockquote><a href=\"https://laohu8.com/S/CNC\">Centene</a>召开投资者会议，并将提供2022年的财务指导。</blockquote></p><p> The Bureau of Labor Statistics releases the consumer price index for November. Consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously. October’s 6.2% increase was the hottest the CPI has run in more than 30 years, and this past week Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> finally ditched “transitory” when discussing inflation before the Senate Banking Committee.</p><p><blockquote>美国劳工统计局发布11月份消费者价格指数。市场普遍预计同比增长6.7%，比10月份高出半个百分点。排除波动较大的食品和能源价格的核心CPI预计将上涨4.8%，而此前为4.6%。10月份6.2%的涨幅是CPI 30多年来最热的一次，而上周美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>在参议院银行委员会讨论通货膨胀时，最终放弃了“暂时性”。</blockquote></p><p> The University of Michigan releases its Consumer Sentiment index for December. Economists forecast a 66 reading, slightly less than the November data.</p><p><blockquote>密歇根大学发布12月份消费者信心指数。经济学家预测为66，略低于11月份的数据。</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>Game Stop, Toll Brothers, Costco, CVS, and Other Stocks to Watch This Week<blockquote>Game Stop、Toll Brothers、Costco、CVS和其他本周值得关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGame Stop, Toll Brothers, Costco, CVS, and Other Stocks to Watch This Week<blockquote>Game Stop、Toll Brothers、Costco、CVS和其他本周值得关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-06 07:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Meme stock darling <a href=\"https://laohu8.com/S/GME\">GameStop</a> headlines this week’s earnings report lineup. The videogame retailer reports results after the market closes on Wednesday. <a href=\"https://laohu8.com/S/AZO\">AutoZone</a>, Casey’s <a href=\"https://laohu8.com/S/BGC\">General</a> Stores, and <a href=\"https://laohu8.com/S/TOL\">Toll Brothers</a> report earnings on Tuesday, followed by <a href=\"https://laohu8.com/S/BF.A\">Brown-Forman</a> and <a href=\"https://laohu8.com/S/CPB\">Campbell Soup</a> on Wednesday. <a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>, <a href=\"https://laohu8.com/S/COST\">Costco</a> Wholesale, and <a href=\"https://laohu8.com/S/HRL\">Hormel</a> Foods round things out on Thursday.</p><p><blockquote>模因股票宠儿<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>本周财报阵容头条。这家视频游戏零售商将在周三收盘后公布业绩。<a href=\"https://laohu8.com/S/AZO\">AutoZone</a>，凯西的<a href=\"https://laohu8.com/S/BGC\">一般的</a>商店，以及<a href=\"https://laohu8.com/S/TOL\">托尔兄弟</a>周二公布收益，随后<a href=\"https://laohu8.com/S/BF.A\">布朗-福尔曼</a>和<a href=\"https://laohu8.com/S/CPB\">坎贝尔汤</a>星期三。<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>,<a href=\"https://laohu8.com/S/COST\">Costco</a>批发，及<a href=\"https://laohu8.com/S/HRL\">荷美尔</a>周四的食物使事情更加圆满。</blockquote></p><p> On Monday, <a href=\"https://laohu8.com/S/UNP\">Union Pacific</a> will hold a conference call to discuss its climate action plan. <a href=\"https://laohu8.com/S/MCK\">McKesson</a> and <a href=\"https://laohu8.com/S/LUV\">Southwest Airlines</a> host their 2021 investor days on Wednesday, followed by <a href=\"https://laohu8.com/S/CVS\">CVS Health</a> and <a href=\"https://laohu8.com/S/TSN\">Tyson</a> Foods on Thursday.</p><p><blockquote>周一，<a href=\"https://laohu8.com/S/UNP\">联合太平洋</a>将召开电话会议讨论其气候行动计划。<a href=\"https://laohu8.com/S/MCK\">麦克森</a>和<a href=\"https://laohu8.com/S/LUV\">西南航空</a>周三举办2021年投资者日，随后<a href=\"https://laohu8.com/S/CVS\">CVS健康</a>和<a href=\"https://laohu8.com/S/TSN\">泰森</a>周四的食物。</blockquote></p><p> The Federal Reserve’s report on consumer credit data for October will be released on Tuesday. On Thursday, the U.S. Labor Department reports initial jobless claims for the week ending on Dec. 4.</p><p><blockquote>美联储10月消费者信贷数据报告将于周二公布。周四，美国劳工部公布了截至12月4日当周的首次申请失业救济人数。</blockquote></p><p> The Bureau of Labor Statistics releases the consumer price index for November on Friday. The consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously.</p><p><blockquote>美国劳工统计局周五发布11月份消费者价格指数。市场普遍预期同比增长6.7%，比10月份高出半个百分点。排除波动较大的食品和能源价格的核心CPI预计将上涨4.8%，而此前为4.6%。</blockquote></p><p> <b>Monday 12/6</b></p><p><blockquote><b>星期一12/6</b></blockquote></p><p> Union Pacific holds a conference call to discuss its climate action plan.</p><p><blockquote>联合太平洋公司召开电话会议讨论其气候行动计划。</blockquote></p><p> <b>Tuesday 12/7</b></p><p><blockquote><b>星期二12/7</b></blockquote></p><p> AutoZone, Casey’s General Stores, and Toll Brothers announce quarterly results.</p><p><blockquote>AutoZone、Casey’s General Stores和Toll Brothers公布季度业绩。</blockquote></p><p> The Federal Reserve reports on consumer credit data for October. After falling slightly last year, total outstanding consumer debt has risen an average of $20 billion a month through September, and stands at a record $4.37 trillion.</p><p><blockquote>美联储报告10月份消费者信贷数据。继去年小幅下降后，截至9月份，未偿消费者债务总额平均每月增加200亿美元，达到创纪录的4.37万亿美元。</blockquote></p><p> <b>Wednesday 12/8</b></p><p><blockquote><b>星期三12/8</b></blockquote></p><p> The BLS releases the Job Openings and Labor Turnover Survey. Economists forecast 10.5 million job openings on the last business day of October, only 600,000 less than the record high of 11.1 million in July.</p><p><blockquote>BLS发布职位空缺和劳动力流动调查。经济学家预测10月最后一个工作日将有1050万个职位空缺，仅比7月1110万的历史新高少60万个。</blockquote></p><p> <a href=\"https://laohu8.com/S/BF.B\">Brown-Forman</a>, Campbell Soup, and GameStop report earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/BF.B\">布朗-福尔曼</a>、金宝汤和游戏驿站公布财报。</blockquote></p><p> McKesson and <a href=\"https://laohu8.com/S/OKSB\">Southwest</a> Airlines host their 2021 investor days.</p><p><blockquote>麦克森和<a href=\"https://laohu8.com/S/OKSB\">西南</a>航空公司举办2021年投资者日。</blockquote></p><p> <a href=\"https://laohu8.com/S/EW\">Edwards Lifesciences</a> holds an investor conference in Irvine, Calif. The company will discuss its product pipeline as well as its financial outlook for 2022.</p><p><blockquote><a href=\"https://laohu8.com/S/EW\">爱德华兹生命科学公司</a>在加州尔湾举行投资者会议。该公司将讨论其产品线以及2022年的财务前景。</blockquote></p><p> The Bank of Canada announces its monetary-policy decision. The central bank is expected to keep its key short-term interest rate unchanged at 0.25%. At its late-October meeting, the bank ended its quantitative-easing program and signaled that its first interest-rate hike would be earlier in 2022 than had been expected.</p><p><blockquote>加拿大央行宣布货币政策决定。预计央行将维持关键短期利率在0.25%不变。在10月底的会议上，央行结束了量化宽松计划，并表示首次加息将于2022年早于预期。</blockquote></p><p> <b>Thursday 12/9</b></p><p><blockquote><b>星期四12/9</b></blockquote></p><p> Broadcom, Costco Wholesale, and Hormel Foods hold conference calls to discuss quarterly results.</p><p><blockquote>Broadcom、Costco Wholesale和Hormel Foods在评级召开会议讨论季度业绩。</blockquote></p><p> CVS Health and Tyson Foods host their annual investor days.</p><p><blockquote>CVS Health和泰森食品举办年度投资者日。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Dec. 4. Jobless claims averaged 238,750 in November, the lowest since the beginning of the pandemic, and just 24,750 more than in February of 2020.</p><p><blockquote>劳工部报告了截至12月4日当周的首次申请失业救济人数。11月份平均申请失业救济人数为238,750人，为大流行开始以来的最低水平，仅比2020年2月增加24,750人。</blockquote></p><p> <b>Friday 12/10</b></p><p><blockquote><b>星期五12/10</b></blockquote></p><p> Archer-Daniels-Midland holds its global investor day.</p><p><blockquote>阿彻-丹尼尔斯-米德兰举办全球投资者日。</blockquote></p><p> <a href=\"https://laohu8.com/S/CNC\">Centene</a> holds an investor meeting and will provide financial guidance for 2022.</p><p><blockquote><a href=\"https://laohu8.com/S/CNC\">Centene</a>召开投资者会议，并将提供2022年的财务指导。</blockquote></p><p> The Bureau of Labor Statistics releases the consumer price index for November. Consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously. October’s 6.2% increase was the hottest the CPI has run in more than 30 years, and this past week Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> finally ditched “transitory” when discussing inflation before the Senate Banking Committee.</p><p><blockquote>美国劳工统计局发布11月份消费者价格指数。市场普遍预计同比增长6.7%，比10月份高出半个百分点。排除波动较大的食品和能源价格的核心CPI预计将上涨4.8%，而此前为4.6%。10月份6.2%的涨幅是CPI 30多年来最热的一次，而上周美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>在参议院银行委员会讨论通货膨胀时，最终放弃了“暂时性”。</blockquote></p><p> The University of Michigan releases its Consumer Sentiment index for December. Economists forecast a 66 reading, slightly less than the November data.</p><p><blockquote>密歇根大学发布12月份消费者信心指数。经济学家预测为66，略低于11月份的数据。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/game-stop-toll-brothers-costco-cvs-and-other-stocks-to-watch-this-week-51638734413?mod=barrons-on-marketwatch\">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":{"GME":"游戏驿站","COST":"好市多","CVS":"西维斯健康","BK4088":"住宅建筑","TOL":"托尔兄弟"},"source_url":"https://www.marketwatch.com/articles/game-stop-toll-brothers-costco-cvs-and-other-stocks-to-watch-this-week-51638734413?mod=barrons-on-marketwatch","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1179313612","content_text":"Meme stock darling GameStop headlines this week’s earnings report lineup. The videogame retailer reports results after the market closes on Wednesday. AutoZone, Casey’s General Stores, and Toll Brothers report earnings on Tuesday, followed by Brown-Forman and Campbell Soup on Wednesday. Broadcom, Costco Wholesale, and Hormel Foods round things out on Thursday.\nOn Monday, Union Pacific will hold a conference call to discuss its climate action plan. McKesson and Southwest Airlines host their 2021 investor days on Wednesday, followed by CVS Health and Tyson Foods on Thursday.\nThe Federal Reserve’s report on consumer credit data for October will be released on Tuesday. On Thursday, the U.S. Labor Department reports initial jobless claims for the week ending on Dec. 4.\nThe Bureau of Labor Statistics releases the consumer price index for November on Friday. The consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously.\nMonday 12/6\nUnion Pacific holds a conference call to discuss its climate action plan.\nTuesday 12/7\nAutoZone, Casey’s General Stores, and Toll Brothers announce quarterly results.\nThe Federal Reserve reports on consumer credit data for October. After falling slightly last year, total outstanding consumer debt has risen an average of $20 billion a month through September, and stands at a record $4.37 trillion.\nWednesday 12/8\nThe BLS releases the Job Openings and Labor Turnover Survey. Economists forecast 10.5 million job openings on the last business day of October, only 600,000 less than the record high of 11.1 million in July.\nBrown-Forman, Campbell Soup, and GameStop report earnings.\nMcKesson and Southwest Airlines host their 2021 investor days.\nEdwards Lifesciences holds an investor conference in Irvine, Calif. The company will discuss its product pipeline as well as its financial outlook for 2022.\nThe Bank of Canada announces its monetary-policy decision. The central bank is expected to keep its key short-term interest rate unchanged at 0.25%. At its late-October meeting, the bank ended its quantitative-easing program and signaled that its first interest-rate hike would be earlier in 2022 than had been expected.\nThursday 12/9\nBroadcom, Costco Wholesale, and Hormel Foods hold conference calls to discuss quarterly results.\nCVS Health and Tyson Foods host their annual investor days.\nThe Department of Labor reports initial jobless claims for the week ending on Dec. 4. Jobless claims averaged 238,750 in November, the lowest since the beginning of the pandemic, and just 24,750 more than in February of 2020.\nFriday 12/10\nArcher-Daniels-Midland holds its global investor day.\nCentene holds an investor meeting and will provide financial guidance for 2022.\nThe Bureau of Labor Statistics releases the consumer price index for November. Consensus estimate is for a 6.7% year-over-year jump, half a percentage point more than in October. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.8% versus 4.6% previously. October’s 6.2% increase was the hottest the CPI has run in more than 30 years, and this past week Federal Reserve Chairman Jerome Powell finally ditched “transitory” when discussing inflation before the Senate Banking Committee.\nThe University of Michigan releases its Consumer Sentiment index for December. Economists forecast a 66 reading, slightly less than the November data.","news_type":1,"symbols_score_info":{"COST":0.9,"TOL":0.9,"CVS":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853815610,"gmtCreate":1634787896862,"gmtModify":1634787897180,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Go Tesla","listText":"Go Tesla","text":"Go Tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/853815610","repostId":"1132338087","repostType":4,"repost":{"id":"1132338087","kind":"news","pubTimestamp":1634787362,"share":"https://www.laohu8.com/m/news/1132338087?lang=zh_CN&edition=full","pubTime":"2021-10-21 11:36","market":"us","language":"en","title":"Tesla’s earnings show is more cautious — and yes, boring — without Elon around<blockquote>没有埃隆在场，特斯拉的财报更加谨慎——是的，也很无聊——</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132338087","media":"MarketWatch","summary":"Tesla Inc. was more cautious Wednesday in both its shareholder letter and its conference call, its f","content":"<p>Tesla Inc. was more cautious Wednesday in both its shareholder letter and its conference call, its first since Chief Executive Elon Musk bowed out of the quarterly earnings show, and it may have cost the stock.</p><p><blockquote>特斯拉周三在股东信和电话会议中都表现得更加谨慎，这是自首席执行官Elon Musk退出季度财报以来的首次，这可能导致该股损失。</blockquote></p><p> The electric-vehicle maker reported record third-quarter earnings and revenue Wednesday, but shares still declined 1.6% in after-hours trading. Tesla disclosed that chip shortages, port congestion and other supply-chain issues were hurting its ability to make as many cars as it could sell, and toned down its forecasts language. Tesla’s revenue of $13.8 billion came in a bit shy of analysts’ estimates of $14 billion.</p><p><blockquote>这家电动汽车制造商周三公布了创纪录的第三季度盈利和收入，但盘后交易中股价仍下跌1.6%。特斯拉透露，芯片短缺、港口拥堵和其他供应链问题正在损害其尽可能多地生产汽车的能力，并淡化了预测语言。特斯拉138亿美元的营收略低于分析师预期的140亿美元。</blockquote></p><p> Tesla also removed a clause that had led investors to believe 2021 would be an outlier growth year, when it stated previously: “In some years it may grow faster, which we expect to be the case in 2021.”</p><p><blockquote>特斯拉还删除了一项导致投资者认为2021年将是异常增长的一年的条款，该公司此前曾表示：“在某些年份，它可能会增长更快，我们预计2021年的情况就是如此。”</blockquote></p><p> “It’s important to note while we have roughly doubled deliveries year to date, this has been exceptionally difficult to achieve,” said Tesla&nbsp;Chief Financial Officer Zachary Kirkhorn, who took over as the main executive in Tesla’s earnings call after Musk bowed out last quarter.</p><p><blockquote>特斯拉首席财务官扎卡里·柯克霍恩(Zachary Kirkhorn)表示：“值得注意的是，虽然今年迄今为止我们的交付量大约翻了一番，但这非常难以实现。”上个季度马斯克退出后，他接任了特斯拉盈利看涨期权的主要高管。</blockquote></p><p> When asked by investors what the company’s goal was for production capacity, Kirkhorn said Tesla seeks to increase growth by 50%, but wisely couched that goal in a way that Musk rarely does.</p><p><blockquote>当被投资者问及公司的产能目标是什么时，柯克霍恩表示，特斯拉寻求将增长提高50%，但明智地以马斯克很少这样做的方式表达了这一目标。</blockquote></p><p> “There may be some periods of time which we’re ahead of that. There could be some periods of time despite our best efforts where we’re slightly lower than that,” he said. “But that remains the long-term goal of the company.”</p><p><blockquote>“可能会有一些时期我们领先于此。尽管我们尽了最大努力，但也可能会有一些时期略低于此水平，”他说。“但这仍然是公司的长期目标。”</blockquote></p><p> Gone from the quarterly call were the often outlandish predictions by Musk, such as his infamous prediction for 1 million Teslas as self-driving robotaxis in 2020 and his forecasts for production targets that were frequently missed.</p><p><blockquote>马斯克经常古怪的预测从季度看涨期权中消失了，例如他臭名昭著的2020年将有100万辆特斯拉作为自动驾驶机器人出租车的预测，以及他对经常被错过的生产目标的预测。</blockquote></p><p> Instead, the more staid call, with what seemed like a few more questions from Wall Street analysts, included more discussion of operating margins, but it also included comments on some small changes to the CyberTruck, and a statement that Tesla is looking to launch it late next year. When asked about the increased regulatory scrutiny of “Full Self-Driving” mode, Kirkhorn said there are regulatory inquiries all the time, and followed up with some bland corporate speak: “We expect and embrace the scrutiny of the products and know the truth about their performance and innovations our products have will ultimately be all that matters.”</p><p><blockquote>相反，华尔街分析师似乎又问了几个问题，其中包括更多关于营业利润率的讨论，但也包括对CyberTruck的一些小变化的评论，以及特斯拉正在寻求推出的声明明年年底。当被问及监管机构对“全自动驾驶”模式加强审查时，柯克霍恩表示，监管机构一直在询问，并随后发表了一些平淡的企业言论：“我们期待并接受对产品的审查，并了解真相关于我们产品的性能和创新最终将是最重要的。”</blockquote></p><p> Tesla also did not give specific revenue guidance for this year.</p><p><blockquote>特斯拉也没有给出今年具体的营收指引。</blockquote></p><p> Investors seemed to be disappointed with the company’s manufacturing constraints or the more staid nature of the comments. In after-hours trading, shares of Tesla slipped about $14, or nearly 2%, as the call continued on. While they are likely better off without the often fantastic pronouncements and over-promising comments by the controversial Musk, investors definitely felt his absence today.</p><p><blockquote>投资者似乎对该公司的制造限制或评论更古板的性质感到失望。在盘后交易中，随着看涨期权的持续，特斯拉股价下跌约14美元，跌幅近2%。虽然如果没有备受争议的马斯克经常发表精彩的声明和过度承诺的评论，他们的情况可能会更好，但投资者今天肯定感受到了他的缺席。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla’s earnings show is more cautious — and yes, boring — without Elon around<blockquote>没有埃隆在场，特斯拉的财报更加谨慎——是的，也很无聊——</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’s earnings show is more cautious — and yes, boring — without Elon around<blockquote>没有埃隆在场，特斯拉的财报更加谨慎——是的，也很无聊——</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-10-21 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla Inc. was more cautious Wednesday in both its shareholder letter and its conference call, its first since Chief Executive Elon Musk bowed out of the quarterly earnings show, and it may have cost the stock.</p><p><blockquote>特斯拉周三在股东信和电话会议中都表现得更加谨慎，这是自首席执行官Elon Musk退出季度财报以来的首次，这可能导致该股损失。</blockquote></p><p> The electric-vehicle maker reported record third-quarter earnings and revenue Wednesday, but shares still declined 1.6% in after-hours trading. Tesla disclosed that chip shortages, port congestion and other supply-chain issues were hurting its ability to make as many cars as it could sell, and toned down its forecasts language. Tesla’s revenue of $13.8 billion came in a bit shy of analysts’ estimates of $14 billion.</p><p><blockquote>这家电动汽车制造商周三公布了创纪录的第三季度盈利和收入，但盘后交易中股价仍下跌1.6%。特斯拉透露，芯片短缺、港口拥堵和其他供应链问题正在损害其尽可能多地生产汽车的能力，并淡化了预测语言。特斯拉138亿美元的营收略低于分析师预期的140亿美元。</blockquote></p><p> Tesla also removed a clause that had led investors to believe 2021 would be an outlier growth year, when it stated previously: “In some years it may grow faster, which we expect to be the case in 2021.”</p><p><blockquote>特斯拉还删除了一项导致投资者认为2021年将是异常增长的一年的条款，该公司此前曾表示：“在某些年份，它可能会增长更快，我们预计2021年的情况就是如此。”</blockquote></p><p> “It’s important to note while we have roughly doubled deliveries year to date, this has been exceptionally difficult to achieve,” said Tesla&nbsp;Chief Financial Officer Zachary Kirkhorn, who took over as the main executive in Tesla’s earnings call after Musk bowed out last quarter.</p><p><blockquote>特斯拉首席财务官扎卡里·柯克霍恩(Zachary Kirkhorn)表示：“值得注意的是，虽然今年迄今为止我们的交付量大约翻了一番，但这非常难以实现。”上个季度马斯克退出后，他接任了特斯拉盈利看涨期权的主要高管。</blockquote></p><p> When asked by investors what the company’s goal was for production capacity, Kirkhorn said Tesla seeks to increase growth by 50%, but wisely couched that goal in a way that Musk rarely does.</p><p><blockquote>当被投资者问及公司的产能目标是什么时，柯克霍恩表示，特斯拉寻求将增长提高50%，但明智地以马斯克很少这样做的方式表达了这一目标。</blockquote></p><p> “There may be some periods of time which we’re ahead of that. There could be some periods of time despite our best efforts where we’re slightly lower than that,” he said. “But that remains the long-term goal of the company.”</p><p><blockquote>“可能会有一些时期我们领先于此。尽管我们尽了最大努力，但也可能会有一些时期略低于此水平，”他说。“但这仍然是公司的长期目标。”</blockquote></p><p> Gone from the quarterly call were the often outlandish predictions by Musk, such as his infamous prediction for 1 million Teslas as self-driving robotaxis in 2020 and his forecasts for production targets that were frequently missed.</p><p><blockquote>马斯克经常古怪的预测从季度看涨期权中消失了，例如他臭名昭著的2020年将有100万辆特斯拉作为自动驾驶机器人出租车的预测，以及他对经常被错过的生产目标的预测。</blockquote></p><p> Instead, the more staid call, with what seemed like a few more questions from Wall Street analysts, included more discussion of operating margins, but it also included comments on some small changes to the CyberTruck, and a statement that Tesla is looking to launch it late next year. When asked about the increased regulatory scrutiny of “Full Self-Driving” mode, Kirkhorn said there are regulatory inquiries all the time, and followed up with some bland corporate speak: “We expect and embrace the scrutiny of the products and know the truth about their performance and innovations our products have will ultimately be all that matters.”</p><p><blockquote>相反，华尔街分析师似乎又问了几个问题，其中包括更多关于营业利润率的讨论，但也包括对CyberTruck的一些小变化的评论，以及特斯拉正在寻求推出的声明明年年底。当被问及监管机构对“全自动驾驶”模式加强审查时，柯克霍恩表示，监管机构一直在询问，并随后发表了一些平淡的企业言论：“我们期待并接受对产品的审查，并了解真相关于我们产品的性能和创新最终将是最重要的。”</blockquote></p><p> Tesla also did not give specific revenue guidance for this year.</p><p><blockquote>特斯拉也没有给出今年具体的营收指引。</blockquote></p><p> Investors seemed to be disappointed with the company’s manufacturing constraints or the more staid nature of the comments. In after-hours trading, shares of Tesla slipped about $14, or nearly 2%, as the call continued on. While they are likely better off without the often fantastic pronouncements and over-promising comments by the controversial Musk, investors definitely felt his absence today.</p><p><blockquote>投资者似乎对该公司的制造限制或评论更古板的性质感到失望。在盘后交易中，随着看涨期权的持续，特斯拉股价下跌约14美元，跌幅近2%。虽然如果没有备受争议的马斯克经常发表精彩的声明和过度承诺的评论，他们的情况可能会更好，但投资者今天肯定感受到了他的缺席。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/teslas-earnings-show-is-more-cautious-and-yes-boring-without-elon-around-11634779650?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":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/teslas-earnings-show-is-more-cautious-and-yes-boring-without-elon-around-11634779650?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132338087","content_text":"Tesla Inc. was more cautious Wednesday in both its shareholder letter and its conference call, its first since Chief Executive Elon Musk bowed out of the quarterly earnings show, and it may have cost the stock.\nThe electric-vehicle maker reported record third-quarter earnings and revenue Wednesday, but shares still declined 1.6% in after-hours trading. Tesla disclosed that chip shortages, port congestion and other supply-chain issues were hurting its ability to make as many cars as it could sell, and toned down its forecasts language. Tesla’s revenue of $13.8 billion came in a bit shy of analysts’ estimates of $14 billion.\nTesla also removed a clause that had led investors to believe 2021 would be an outlier growth year, when it stated previously: “In some years it may grow faster, which we expect to be the case in 2021.”\n“It’s important to note while we have roughly doubled deliveries year to date, this has been exceptionally difficult to achieve,” said Tesla Chief Financial Officer Zachary Kirkhorn, who took over as the main executive in Tesla’s earnings call after Musk bowed out last quarter.\nWhen asked by investors what the company’s goal was for production capacity, Kirkhorn said Tesla seeks to increase growth by 50%, but wisely couched that goal in a way that Musk rarely does.\n“There may be some periods of time which we’re ahead of that. There could be some periods of time despite our best efforts where we’re slightly lower than that,” he said. “But that remains the long-term goal of the company.”\nGone from the quarterly call were the often outlandish predictions by Musk, such as his infamous prediction for 1 million Teslas as self-driving robotaxis in 2020 and his forecasts for production targets that were frequently missed.\nInstead, the more staid call, with what seemed like a few more questions from Wall Street analysts, included more discussion of operating margins, but it also included comments on some small changes to the CyberTruck, and a statement that Tesla is looking to launch it late next year. When asked about the increased regulatory scrutiny of “Full Self-Driving” mode, Kirkhorn said there are regulatory inquiries all the time, and followed up with some bland corporate speak: “We expect and embrace the scrutiny of the products and know the truth about their performance and innovations our products have will ultimately be all that matters.”\nTesla also did not give specific revenue guidance for this year.\nInvestors seemed to be disappointed with the company’s manufacturing constraints or the more staid nature of the comments. In after-hours trading, shares of Tesla slipped about $14, or nearly 2%, as the call continued on. While they are likely better off without the often fantastic pronouncements and over-promising comments by the controversial Musk, investors definitely felt his absence today.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":824,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":859234359,"gmtCreate":1634698779619,"gmtModify":1634698779779,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/859234359","repostId":"2176710436","repostType":4,"isVote":1,"tweetType":1,"viewCount":613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":886338460,"gmtCreate":1631549432750,"gmtModify":1631890701985,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886338460","repostId":"1171919128","repostType":4,"repost":{"id":"1171919128","kind":"news","pubTimestamp":1631547161,"share":"https://www.laohu8.com/m/news/1171919128?lang=zh_CN&edition=full","pubTime":"2021-09-13 23:32","market":"us","language":"en","title":"Apple App Store: The Tide Is Turning<blockquote>苹果应用商店：潮流正在转向</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171919128","media":"seekingalpha","summary":"Summary\n\nA US Federal District Court judge has ruled mostly in Apple’s favor in their case with Epic","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>A US Federal District Court judge has ruled mostly in Apple’s favor in their case with Epic Games.</li>  <li>Despite that, and in conjunction with a recent settlement with Japanese regulators, Apple will be getting rid of their anti-steering rule. This is a bigger change than people think.</li>  <li>The threat to Apple doesn't end with the Epic trial. There are bigger threats coming from the executive and legislative branches in the US, and regulators in Europe and Asia.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/323e8503a813d4996ee819f5591992b8\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Chip Somodevilla/Getty Images News</span></p><p><blockquote><ul><li>美国联邦地区法院法官在Epic Games的案件中做出了对苹果有利的裁决。</li><li>尽管如此，加上最近与日本监管机构达成的和解，苹果将取消他们的反转向规则。这是一个比人们想象的更大的变化。</li><li>对苹果的威胁并没有随着史诗般的审判而结束。更大的威胁来自美国的行政和立法部门，以及欧洲和亚洲的监管机构。</li></ul><p class=\"t-img-caption\"><span>奇普·索莫德维拉/盖蒂图片社新闻</span></p></blockquote></p><p> <b>It Does Not End Here</b></p><p><blockquote><b>它并没有就此结束</b></blockquote></p><p> For&nbsp;some time now, I&nbsp;have been warning&nbsp;that&nbsp;antitrust law was about to change, and these changes would not be favorable to Apple(NASDAQ:AAPL), and that investors need to take these threats seriously. In every one of these attempts, I was rebuffed in the comments by many Apple shareholders telling me that these fears and warnings were overblown. “Long and strong AAPL!” cheerleading seems to be popular.Confirmation bias&nbsp;is a strong thing, and you should fight it every single day.</p><p><blockquote>一段时间以来，我一直警告反垄断法即将发生变化，这些变化对苹果（纳斯达克股票代码：AAPL）不利，投资者需要认真对待这些威胁。在每一次尝试中，我都遭到了许多苹果股东的拒绝，他们告诉我这些担忧和警告被夸大了。“长而强的AAPL！”啦啦队似乎很受欢迎。确认偏见是一种强烈的东西，你应该每天都与之斗争。</blockquote></p><p> My last attempt was&nbsp;less than two weeks ago, and I was similarly dismissed, and even accused of being a short-selling tout to boot. That last suggestion is pretty funny to anyone who has had to listen to me drone on about Apple stock the last 16 years. The consequence of those 16 years is that I have a lot of Apple stock, so I take things like this very seriously.</p><p><blockquote>我最后一次尝试是在不到两周前，我同样被驳回，甚至被指责为卖空者。对于那些在过去16年里不得不听我喋喋不休地谈论苹果股票的人来说，最后一个建议非常有趣。那16年的后果是我有很多苹果的股票，所以我非常认真地对待这样的事情。</blockquote></p><p> Friday’s decision in Epic v. Apple had one part very bad news for Apple, but mostly a rejection of Epic’s main claim — that iOS is a market unto itself. But the bigger threat continues to be from Congress, where they can change the law in a single session. The House has already passed several bipartisan bills through committee, and three of them seem to have pretty wide support with the rest of the House. A narrower, but just as damaging companion bill is about to start working its way through the Senate. Keep your eyes on Amy Klobuchar of Minnesota and Mike Lee of Utah.</p><p><blockquote>周五Epic诉苹果案的判决对苹果来说有一部分是非常坏的消息，但主要是拒绝了Epic的主要主张——iOS本身就是一个市场。但更大的威胁仍然来自国会，他们可以在一次会议中改变法律。众议院已经通过了几项两党法案，其中三项似乎得到了众议院其他成员的广泛支持。一项范围更窄但同样具有破坏性的配套法案即将开始在参议院通过。请关注明尼苏达州的艾米·克洛布查尔和犹他州的李政颖。</blockquote></p><p> Then we have regulatory action in the EU, Apple’s second most important region, where antitrust enforcers are siding with Spotify(NYSE:SPOT)in their dispute over in-app payments. Apple has already settled with Japan over their anti-steering rules. South Korea is forcing Apple and Google(NASDAQ:GOOGL)(NASDAQ:GOOG)to allow third-party in-app payments. China is a black hole of regulatory mystery.</p><p><blockquote>然后，我们在苹果第二重要地区欧盟采取了监管行动，那里的反垄断执法人员在应用内支付纠纷中站在Spotify（纽约证券交易所股票代码：SPOT）一边。苹果已经就日本的反转向规则与日本达成和解。南韩正在迫使苹果和谷歌（纳斯达克：GOOGL）（纳斯达克：GOOG）允许第三方应用内支付。中国是一个监管神秘的黑洞。</blockquote></p><p> The tide is turning on Apple on this issue. If you think this begins and ends with the Epic case, you haven’t been paying attention.</p><p><blockquote>在这个问题上，潮流正在转向苹果。如果你认为这是以史诗般的案件开始和结束的，那你就没有注意到。</blockquote></p><p> Right now the threat is confined to App Store, but this is the end of the beginning, not the beginning of the end. This new antitrust movement may come for other parts of Apple, like the other pillar of their fast-growing Services segment, AppleCare, and even dig deeper into the way Apple likes to do business.</p><p><blockquote>目前威胁仅局限于App Store，但是这是开始的结束，而非结束的开始。这场新的反垄断运动可能会降临到苹果的其他部门，比如他们快速增长的服务部门的另一个支柱AppleCare，甚至更深入地挖掘苹果喜欢的做生意方式。</blockquote></p><p> <b>What The Ruling Says</b></p><p><blockquote><b>裁决内容</b></blockquote></p><p> Judge Yvonne Gonzalez Rogers hewed very closely to existing law, because that’s what usually happens in District Court, the lowest level of the federal system. She mostly had bad news for Epic, and targeted bad news for Apple.</p><p><blockquote>伊冯娜·冈萨雷斯·罗杰斯法官非常严格地遵守现有法律，因为这通常是联邦系统最低级别的地区法院发生的事情。她主要是给Epic带来坏消息，并针对苹果带来坏消息。</blockquote></p><p> The case rested on how the court defined the “relevant market” in question. Epic wanted it to be iOS, a market unto itself because of the high walls Apple builds around the ecosystem. Judge Rogers rejected that novel claim pretty handily. But she also rejected Apple’s definition: all gaming transactions, including PCs and consoles. She settled on mobile gaming transactions, so essentially the iOS-Android duopoly of mobile gaming transactions.</p><p><blockquote>该案取决于法院如何定义所讨论的“相关市场”。Epic希望它成为iOS，一个独立的市场，因为苹果在生态系统周围筑起了高墙。罗杰斯法官轻而易举地驳回了这一新颖的主张。但她也拒绝了苹果的定义：所有游戏交易，包括PC和主机。她选择了移动游戏交易，所以本质上是移动游戏交易的iOS和Android双头垄断。</blockquote></p><p> Here is the meat of the decision that follows from that:</p><p><blockquote>以下是由此得出的决定的实质：</blockquote></p><p>   Given the trial record, the Court cannot ultimately conclude that Apple is a monopolist under either federal or state antitrust laws. While the Court finds that Apple enjoys considerable market share of over 55% and extraordinarily high profit margins, these factors alone do not show antitrust conduct. Success is not illegal…    Nonetheless, the trial did show that Apple is engaging in anticompetitive conduct under California’s competition laws. The Court concludes that Apple’s anti-steering provisions hide critical information from consumers and illegally stifle consumer choice. When coupled with Apple’s incipient antitrust violations, these anti-steering provisions are anticompetitive and a nationwide remedy to eliminate those provisions is warranted.  The most important thing to note here is that the problem for Apple is California law, not federal law. Federal law changing is where the real threat remains, and we are already well into that process.</p><p><blockquote>鉴于审判记录，法院无法最终得出结论，根据联邦或州反垄断法，苹果是垄断者。虽然法院发现苹果享有超过55%的可观市场份额和极高的利润率，但仅凭这些因素并不表明存在反垄断行为。成功并不违法……尽管如此，审判确实表明苹果参与了加州竞争法下的反竞争行为。法院的结论是，苹果的反转向条款向消费者隐瞒了关键信息，非法扼杀了消费者的选择。再加上苹果初期的反垄断违规行为，这些反转向条款是反竞争的，有必要在全国范围内采取补救措施来消除这些条款。这里最需要注意的是，苹果的问题是加州法律，而不是联邦法律。联邦法律的改变是真正的威胁所在，我们已经进入了这个过程。</blockquote></p><p></p><p> Judge Rogers ruled that Apple has to get rid of their anti-steering rules. App developers will now be allowed to inform users of less expensive options on their website, with a link. We’ll talk about the implications in a moment. Apple charges developers 30% for in-app payments, and the first year of in-app subscriptions (15% thereafter). In-app payments and subscriptions are substantially where all of App Store revenue comes from, about 28% of the Services segment and 5.4% of all revenue in calendar 2020.</p><p><blockquote>Rogers法官裁定苹果必须取消他们的反转向规则。应用开发者现在将被允许在他们的网站上通过链接通知用户更便宜的选项。我们一会儿会谈到其中的含义。苹果向开发者收取30%的应用内支付费用，以及第一年的应用内订阅费用（此后收取15%）。应用内支付和订阅基本上是App Store所有收入的来源，约占服务部门的28%，占2020年所有收入的5.4%。</blockquote></p><p> Also, in the category of rounding errors, Epic has to pay Apple the $3.6 million they owe them when they breached their contract. That’s about 0.001% of Apple’s 2021 top line.</p><p><blockquote>此外，在舍入错误类别中，Epic必须向苹果支付他们违反合同时欠他们的360万美元。这约占苹果2021年营收的0.001%。</blockquote></p><p> <b>Epic’s Game</b></p><p><blockquote><b>史诗的游戏</b></blockquote></p><p> If you read&nbsp;my first article&nbsp;about the trial from when the pre-trial filings dropped, you may notice that I was a bit confused about what precisely Epic’s game was here. The foundation of their entire argument — that iOS was a market unto itself — was novel, to say the least. At least one of their lawyers must have informed them of the low likelihood of success on their main claims. Moreover, they burned a lot of pages on arguments not central to their case, but seem more geared towards tarnishing Apple’s reputation.</p><p><blockquote>如果你读了我的第一篇关于预审文件撤销时的审判文章，你可能会注意到我对Epic的游戏到底是什么有点困惑。至少可以说，他们整个论点的基础——iOS本身就是一个市场——是新颖的。至少有一名律师必须告知他们主要索赔成功的可能性很低。此外，他们烧毁了很多页的论点，这些论点与他们的案件无关，但似乎更倾向于玷污苹果的声誉。</blockquote></p><p> My current understanding is that this case was a publicity stunt. What’s more, it worked. The point was to get this issue into the public conversation. Here I am writing about it, and here you are reading about it. But more importantly, the tide is turning in Washington, and I think the issues raised by this trial have accelerated that.</p><p><blockquote>我目前的理解是，这个案子是一个宣传噱头。更重要的是，它起作用了。重点是让这个问题进入公众对话。我在这里写它，你在这里读到它。但更重要的是，华盛顿的潮流正在发生转变，我认为这次审判提出的问题加速了这一点。</blockquote></p><p> <b>The Anti-Steering Rule</b></p><p><blockquote><b>反转向规则</b></blockquote></p><p> Like many of the App Store rules, the anti-steering rule was part of a multi-year whack-a-mole process where developers tried to find ways to cut out Apple, and Apple closed those holes. Apple fought very hard to keep this rule, but now seems to be capitulating. They settled with Japanese regulators recently on the anti-steering rules as it applied to media subscription apps, and applied the settlement to the rest of the world as well, maybe in anticipation of this ruling. With the Epic ruling, the anti-steering rule is gone.</p><p><blockquote>与许多App Store规则一样，反转向规则是多年打地鼠过程的一部分，开发者试图找到切断苹果的方法，苹果填补了这些漏洞。苹果非常努力地维护这一规则，但现在似乎投降了。他们最近与日本监管机构就适用于媒体订阅应用程序的反转向规则达成了和解，并将和解协议也适用于世界其他地区，也许是对这一裁决的预期。随着史诗般的裁决，反转向规则消失了。</blockquote></p><p> When a game developer like Epic sells their virtual currency on the App Store, they have a 30% payment fee. When they make the same transaction on their website, it is probably under 3%. This was always what this was about. Epic wanted to have their own in-app payment system to supersede Apple’s, without the friction of sending people to the website. Judge Rogers rejected that, but gave Epic a partial victory by banning Apple’s anti-steering rules.</p><p><blockquote>当像Epic这样的游戏开发商在App Store上出售他们的虚拟货币时，他们有30%的支付费用。当他们在自己的网站上进行同样的交易时，大概在3%以下。这一直都是为了这个。Epic希望拥有自己的应用内支付系统来取代苹果的支付系统，而不会出现将人们送到网站的摩擦。Rogers法官驳回了这一要求，但通过禁止苹果的反转向规则，Epic获得了部分胜利。</blockquote></p><p> The anti-steering rules prevented app developers from having text and links to their own much less expensive in-app payments or subscriptions on their websites. This is a real loss for Apple, and puts the whole structure of the two most lucrative payment methods in the App Store at risk.</p><p><blockquote>反转向规则阻止应用程序开发者在其网站上发布文本和链接到他们自己便宜得多的应用内支付或订阅。这对苹果来说是一个真正的损失，并将App Store中最赚钱的两种支付方式的整个结构置于危险之中。</blockquote></p><p> Let’s say a gaming company pays a 2.5% processing fee on their website. That means they have 27.5 percentage points of marketing to play with. They could give that entire 27.5% to users in the form of a rebate or freebies. It certainly increases friction to have to leave a game you're having fun with, but if there is a big, friendly, dark-patterned button that says “Want free money?” I think a lot of people would tap that button. What’s more, they get to book the same amount in revenue, and stick the cost down in sales and marketing.</p><p><blockquote>假设一家游戏公司在其网站上支付2.5%的处理费。这意味着他们有27.5个百分点的营销空间可以利用。他们可以以折扣或免费赠品的形式给用户全部27.5%。不得不离开一个你正在享受的游戏肯定会增加摩擦，但是如果有一个大的、友好的、深色图案的按钮写着“想要免费的钱吗？”我想很多人会点击那个按钮。更重要的是，他们可以记录相同金额的收入，并在销售和营销方面降低成本。</blockquote></p><p> That’s just one example of how companies may decide to go with this. That’s a lot of margin to play with. The reason Apple had this rule in the first place is that they feared someone would find the magic formula that would provide more revenue by eschewing in-app payments altogether, and everyone else would copy them. They had fought very hard to keep this rule for a reason.</p><p><blockquote>这只是公司可能决定采取这种做法的一个例子。这是一个很大的空间。苹果最初制定这条规则的原因是，他们担心有人会找到一个神奇的公式，通过完全避免应用内支付来提供更多收入，而其他人都会效仿他们。他们努力维护这条规则是有原因的。</blockquote></p><p> Just after the news broke, a friend who knows&nbsp;I own both stocks&nbsp;trolled me with this Bloomberg Terminal screenshot:</p><p><blockquote>消息传出后，一位知道我拥有这两只股票的朋友用这张彭博终端截图向我进行了攻击：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78570d7ae73401a933b2359f3dcd47da\" tg-width=\"640\" tg-height=\"281\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Roblox(NYSE:RBLX)is a pure-play mobile gaming company. The vast majority of their revenues come from in-app payments from iOS and Android, the rest from their website sales. Their cost-of-revenues almost all goes to Apple and Google. In the TTM, they had a 74.4% gross margin. If they pay a 2.5% processing fee for website sales, that means 84% of their transaction value was through iOS and Android. If they could get that to 50-50, that would raise all their margins down to EBT by 10 percentage points. If they could get to 73% of sales on the website, they would have a 90% gross margin.</p><p><blockquote>Roblox（纽约证券交易所股票代码：RBLX）是一家纯粹的移动游戏公司。他们的绝大多数收入来自iOS和Android的应用内支付，其余来自网站销售。他们的收入成本几乎全部归苹果和谷歌所有。在TTM，他们的毛利率为74.4%。如果他们为网站销售支付2.5%的处理费，这意味着他们84%的交易价值是通过iOS和Android进行的。如果他们能够将这一比例提高到50-50，那么他们在EBT的所有利润率将提高10个百分点。如果他们能在网站上获得73%的销售额，他们将有90%的毛利率。</blockquote></p><p> There is a lot of money at stake, and a huge incentive for gaming and subscription media companies to figure out how to thread this needle. And that’s all in the absence of further action by the other two branches of government.</p><p><blockquote>这关系到大量的资金，游戏和订阅媒体公司也有巨大的动力去想办法解决这个问题。这一切都是在其他两个政府部门没有采取进一步行动的情况下发生的。</blockquote></p><p> <b>The Executive Branch</b></p><p><blockquote><b>行政部门</b></blockquote></p><p></p><p> This is a good place to discuss the theoretical underpinnings of the new antitrust movement, because two of its leaders now work in the Biden administration. The movement is sometimes referred to as the “neo-Brandeis” movement after Supreme Court Justice Louis Brandeis, because it harkens back to a much earlier era of antitrust enforcement that drastically changed in the 1980s.</p><p><blockquote>这是讨论新反垄断运动理论基础的好地方，因为其两位领导人现在在拜登政府工作。这场运动有时被称为“新布兰代斯”运动，以最高法院大法官路易斯·布兰代斯的名字命名，因为它可以追溯到更早的反垄断执法时代，该时代在20世纪80年代发生了巨大变化。</blockquote></p><p> In 1978, Robert Bork (yes,that Robert Bork) wrote a very influential book called&nbsp;<i>The Antitrust Paradox</i>. His theory urged a refocusing of enforcement away from competition, and towards consumer benefit as the main test. He argued that antitrust enforcement was propping up smaller, less efficient companies to the detriment of the economy.</p><p><blockquote>1978年，罗伯特·博克（没错，就是那个罗伯特·博克）写了一本非常有影响力的书，叫做<i>反垄断悖论</i>他的理论敦促将执法重点从竞争转向消费者利益作为主要检验标准。他认为，反垄断执法正在支撑规模较小、效率较低的公司，损害了经济。</blockquote></p><p> The 1982 AT&amp;T breakup consent decree became the prototype for the new enforcement. By controlling local and long distance telecommunication, as well as the equipment, AT&amp;T had been underinvesting and overcharging for decades. Their breakup brought an explosion of investment into telecommunications, and brought down prices quickly for landline service and equipment. That became the limit of antitrust enforcement.</p><p><blockquote>1982年美国电话电报公司分手同意法令成为新执法的原型。通过控制本地和长途电信以及设备，美国电话电报公司几十年来一直投资不足，收费过高。他们的分手带来了电信投资的爆炸式增长，并迅速降低了固定电话服务和设备的价格。这成为反垄断执法的极限。</blockquote></p><p> But the focus on consumer benefit has affected competition, and that’s what the neo-Brandeis movement hopes to change. They want antitrust enforcement to return to the way it was a century ago, with more of a focus on how large companies affect competition. Lina Khan, a law professor at Columbia, now runs the FTC, the primary antitrust enforcer in the federal government. Her 2017 law review article, “Amazon’s Antitrust Paradox” was the spark that lit this fire. Her colleague at Columbia Law, Tim Wu, is also one of the leaders of this movement. He is a member of the White House Council of Economic Advisors, and his fingerprints are all over&nbsp;the July competition executive order.</p><p><blockquote>但是对消费者利益的关注影响了竞争，这就是新布兰代斯运动希望改变的。他们希望反垄断执法回到一个世纪前的样子，更多地关注大公司如何影响竞争。哥伦比亚大学法学教授莉娜·汗(Lina Khan)现在负责联邦政府主要的反垄断执法机构联邦贸易委员会(FTC)。她2017年的法律评论文章《亚马逊的反垄断悖论》是点燃这场大火的火花。她在哥伦比亚法学院的同事蒂姆·吴也是这场运动的领导者之一。他是白宫经济顾问委员会的成员，7月份的竞争行政命令上到处都是他的指纹。</blockquote></p><p> The order was very wide ranging, with 72 initiatives covering 14 departments and agencies. Most of it does not relate to Apple, but it gives you an idea of the wide breadth of the order. As it relates to Apple:</p><p><blockquote>该命令范围非常广泛，有72项举措，涵盖14个部门和机构。它的大部分与苹果无关，但它让你对秩序的广度有所了解。就苹果而言：</blockquote></p><p> <ul>  <li>Right-to-repair is a huge threat to the other pillar of Services, AppleCare, which I estimate at 25%-30% of the segment. But more than that, it would change the way Apple makes devices. Apple squeezes out efficiency gains by attaching pooled memory directly to the main processor die, and by soldering storage into the motherboard. Both of these would likely be prohibited to them, and the devices would suffer.</li>  <li>The FTC is two months into a yearlong frisk of the mobile app ecosystem. Based on previous writings, Lina Khan will likely recommend third party app stores, “sideloading” directly from the web, and an end to the in-app payments monopoly.</li> </ul> Executive branch action is always subject to court challenges, and they can take very long to implement. But Congress can change the law in a single session. And they are already into that process.</p><p><blockquote><ul><li>维修权对服务的另一个支柱AppleCare来说是一个巨大的威胁，我估计AppleCare占该细分市场的25%-30%。但更重要的是，它将改变苹果制造设备的方式。苹果通过将池内存直接连接到主处理器芯片，以及将存储焊接到主板来挤出效率增益。这两个都可能被禁止，设备也会受到影响。</li><li>联邦贸易委员会对移动应用生态系统长达一年的搜查已经进行了两个月。根据之前的著作，Lina Khan可能会推荐第三方应用商店，直接从网络“侧装”，并结束应用内支付垄断。</li></ul>行政部门的行动总是受到法院的质疑，而且可能需要很长时间才能实施。但是国会可以在一届会议上改变法律。他们已经进入了这个过程。</blockquote></p><p> <b>The Legislative Branch</b></p><p><blockquote><b>立法部门</b></blockquote></p><p> Since there are two houses of Congress, this issue is off on two tracks. The House Judiciary Committee recently passed a suite of bipartisan bills. Of the ones that I think have a good likelihood of passing the full House, here’s how it affects Apple:</p><p><blockquote>由于国会有两院，这个问题在两条轨道上。众议院司法委员会最近通过了一系列两党法案。在我认为很有可能获得全院通过的法案中，以下是它对苹果的影响：</blockquote></p><p> They would be required to allow third party app stores, sideloading, and third party payments in the Apple App Store.</p><p><blockquote>他们将被要求允许苹果应用商店中的第三方应用商店、侧装和第三方支付。</blockquote></p><p> Restricting Apple’s ability to acquire smaller companies. In the past 6 years, Apple has bought around 100 companies, which works out to about one every three weeks on average. It looks like they had been accelerating since fiscal 2018, but then abruptly stopped in fiscal 2021. The reason is the new leader of the FTC.</p><p><blockquote>限制苹果收购小公司的能力。在过去的6年里，苹果收购了大约100家公司，平均每三周就收购一家。看起来他们自2018财年以来一直在加速，但在2021财年突然停止。原因是FTC的新领导人。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2fc9a2578663cc746fdb19ca19dea4c\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The big bulge you see there in 2014 is the Beats acquisition at $3 billion, which remains the exception. Otherwise, Apple buys very small companies for tens or hundreds of millions, usually shuts down any products they may have, and absorbs the talent and IP into Apple proper. Apple’s chip design unit, a cornerstone of their current success, began this way in 2008.</p><p><blockquote>你在2014年看到的最大增长是以30亿美元收购Beats，这仍然是个例外。否则，苹果会花数千万或数亿美元收购非常小的公司，通常会关闭他们可能拥有的任何产品，并将人才和知识产权吸收到苹果本土。苹果的芯片设计部门是他们目前成功的基石，2008年就是这样开始的。</blockquote></p><p> <b>No more private APIs.</b>This would mean everything, like the Apple Pay-enabling NFC chip, would be open to competitors.</p><p><blockquote><b>不再有私有API。</b>这意味着一切，比如支持苹果支付的NFC芯片，都将向竞争对手开放。</blockquote></p><p> <b>No more discriminatory rules.</b>Apple doesn’t force real-world product and service providers like Uber(NYSE:UBER)to use in-app payments. Apple would either have to try and get Uber to pay them 30%, or drop the requirement altogether.</p><p><blockquote><b>不再有歧视性的规则。</b>苹果不会强迫Uber（纽约证券交易所股票代码：UBER）等现实世界的产品和服务提供商使用应用内支付。苹果要么试图让优步向他们支付30%的费用，要么完全放弃这一要求。</blockquote></p><p> <b>The end of the Google search deal.</b>Google currently pays Apple a purported $12 billion a year to make Google the default search engine on iOS. This cash goes directly to EBT.</p><p><blockquote><b>谷歌搜索交易的结束。</b>谷歌目前据称每年向苹果支付120亿美元，以使谷歌成为iOS上的默认搜索引擎。这笔现金直接流向EBT。</blockquote></p><p> <b>They would have to expose more user data to developers.</b></p><p><blockquote><b>他们将不得不向开发者公开更多的用户数据。</b></blockquote></p><p> <b>Formalizing the anti-steering decision.</b></p><p><blockquote><b>正式确定反转向决策。</b></blockquote></p><p></p><p> <b>Anti-retaliation provision.</b>If these bills were law, Epic would still be on the App Store while they sued Apple.</p><p><blockquote><b>反报复条款。</b>如果这些法案成为法律，当他们起诉苹果时，Epic仍将在App Store上。</blockquote></p><p> After the House is done wrangling over budget reconciliation, I think these bills will hit the House floor this fall or winter, and I think that they have a high likelihood of passing in something like their current form.</p><p><blockquote>在众议院结束关于预算协调的争论后，我认为这些法案将在今年秋天或冬天提交众议院，我认为它们很有可能以目前的形式获得通过。</blockquote></p><p> But bills also have to clear the Senate, and they move slower. Things are just getting started there. The big movers in the Senate are Amy Klobuchar of Minnesota and Mike Lee of Utah. Klobuchar has&nbsp;written a long book&nbsp;on the subject, and it is not friendly towards Apple. She has also authored a new bill, Open App Markets Act. It is more narrow than the House suite, but not by much. It would still force Apple to allow third party app stores, sideloading, and third party in-app payments. They would also have to get rid of their private APIs. The bill is narrower than the House suite, and less of a threat to Apple, but still would mean the end of App Store as a driver of growth.<i>The Senate bill is the better outcome for Apple, and it is still terrible.</i></p><p><blockquote>但法案也必须通过参议院，而且进展较慢。那里的事情才刚刚开始。参议院的大推动者是明尼苏达州的艾米·克洛布查尔和犹他州的李政颖。Klobuchar就这个问题写了一本长书，它对苹果并不友好。她还起草了一项新法案《开放应用市场法案》。它比房子套房窄，但也窄不了多少。它仍将迫使苹果允许第三方应用商店、侧装和第三方应用内支付。他们还必须摆脱他们的私有API。该法案比众议院套房更窄，对苹果的威胁也更小，但仍意味着App Store作为增长驱动力的终结。<i>参议院的法案对苹果来说是更好的结果，但仍然很糟糕。</i></blockquote></p><p> I believe that we will see something pass before the next Presidential election, or even in this Congressional session. The best Apple shareholders can hope for is that the final bill gets watered down considerably.</p><p><blockquote>我相信，在下届总统选举之前，甚至在本届国会会议上，我们会看到一些事情通过。苹果股东最大的希望就是最终法案被大幅淡化。</blockquote></p><p> <b>Outside The US</b></p><p><blockquote><b>美国境外</b></blockquote></p><p> This is in no way limited to the US. We already discussed the Japanese settlement, and South Korea is forcing Apple and Google to allow third party in-app payments. The case that is farthest along in the EU is Spotify’s, which would force Apple to not charge fees to competing services, so that means music, podcasts, games, video and fitness.</p><p><blockquote>这绝不仅限于美国。我们已经讨论了日本的和解，南韩正在迫使苹果和谷歌允许第三方应用内支付。欧盟进展最快的案例是Spotify，这将迫使苹果不向竞争服务收费，因此这意味着音乐、播客、游戏、视频和健身。</blockquote></p><p> The Chinese Communist Party remains the&nbsp;second biggest tail risk in the world&nbsp;after climate change. Apple’s regulatory risk there is uniquely high, both on the supply and demand sides. Apple has already given into them by not providing their Chinese customers with the same level of privacy as everyone else. With the mood in China right now, who knows where that goes.</p><p><blockquote>中国共产党仍然是仅次于气候变化的世界第二大尾部风险。无论是在供应还是需求方面，苹果的监管风险都非常高。苹果已经屈服于他们，没有向他们的中国客户提供和其他人一样的隐私水平。以中国现在的情绪，谁知道会走向何方。</blockquote></p><p> <b>What Losing Control Of App Store Looks Like</b></p><p><blockquote><b>失去对App Store的控制是什么样子</b></blockquote></p><p> Stone Fox Capital here at Seeking Alpha is&nbsp;out with an article&nbsp;pivoting off Katy Huberty's estimation of a 2% earnings loss if the top 20 apps on the App Store were able to eschew in-app payments. Stone Fox would also like you to care about that seemingly small number:</p><p><blockquote>Seeking Alpha的Stone Fox Capital发表了一篇文章，反驳了Katy Huberty的估计，如果App Store上排名前20的应用程序能够避免应用内支付，收益将损失2%。石狐也希望大家关心一下这个看似很小的数字：</blockquote></p><p>   Apple won most of their legal case with Epic Games based on the ruling announced on September 10, but the tech giant lost the ultimate battle. The stock remains priced for perfection while the company continues to have growth paths chipped away from the business.  My last article on this subject was called “Chipping Away at App Store.” This is what is happening and the trend is now clear. There is a mood globally to take Apple down a peg, and it is happening too slowly for many people to realize it is happening.</p><p><blockquote>根据9月10日宣布的裁决，苹果赢得了与Epic Games的大部分法律诉讼，但这家科技巨头输掉了最终的战斗。该股的定价仍然是完美的，而该公司的增长道路继续从业务中被削弱。我上一篇关于这个主题的文章叫做“在App Store上削足适履”。这就是正在发生的事情，趋势现在很明显。全球都有一种降低苹果汇率的情绪，但这种情绪发生得太慢，许多人都没有意识到它正在发生。</blockquote></p><p> My own way of modeling the worst case is through my DCF model. It’s modeled as a 25% hit to Services in the first year, with services gross margin reduced from 68% to 65%, followed by a slightly increased growth rate in the segment because of composition effects — the rest of Services grows faster than App Store. I used to model that happening in fiscal 2024, but I have moved that up to fiscal 2023, beginning less than 13 months from now.</p><p><blockquote>我自己对最坏情况建模的方法是通过我的DCF模型。它的模型是第一年服务受到25%的打击，服务毛利率从68%下降到65%，随后由于构成效应，该细分市场的增长率略有上升——其余服务的增长速度快于App Store。我曾经对2024财年发生的情况进行建模，但我已将其提前到2023财年，从现在开始不到13个月。</blockquote></p><p> Here is the effect on fair value on my base case:</p><p><blockquote>以下是我的基本案例对公允价值的影响：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94b635fe7a2473aafe36bd095a1206b6\" tg-width=\"640\" tg-height=\"352\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Even with the very slow start for the reason Stone Fox says — the share price has gotten way out ahead of cash flows — my base case still shows an 11% CAGR in fair value through the end of fiscal 2025. The App Store collapse takes that down to an 8% CAGR, 12% lower by 2025.</p><p><blockquote>尽管由于Stone Fox所说的原因，起步非常缓慢——股价已经远远领先于现金流——但我的基本假设仍然显示，到2025财年末，公允价值复合年增长率为11%。App Store的倒闭使复合年增长率降至8%，到2025年将下降12%。</blockquote></p><p> Circling back, Stone Fox puts a button on this more succinctly than I can:</p><p><blockquote>回头，石狐比我更简洁地按下了一个按钮：</blockquote></p><p>   The key investor takeaway is that Apple has a bright future. The company will continue generating profits with operating cash flows topping $100 billion annually, but the tech giant will struggle to generate the growth needed to warrant the current stock price. The 2% hit to earnings might not seem meaningful, but the amount is very harmful to a stock priced for perfection.  <b>How To Take This Seriously</b></p><p><blockquote>投资者的主要收获是苹果拥有光明的未来。该公司将继续创造利润，每年运营现金流超过1000亿美元，但这家科技巨头将难以实现维持当前股价所需的增长。盈利2%的打击似乎没有意义，但这个数额对于定价完美的股票来说是非常有害的。<b>如何认真对待这个</b></blockquote></p><p> In my last article on this subject, someone cheekily replied in the comments, “‘Please take this seriously.’ What does that even mean?” That’s a good question. The first part of the answer is to stop pretending it’s not happening.</p><p><blockquote>在我关于这个主题的上一篇文章中，有人在评论中厚颜无耻地回答说：“‘请认真对待这件事。’这到底是什么意思？”这是个好问题。答案的第一部分是不要假装它没有发生。</blockquote></p><p> “If your time horizon is short, now is a good time to take profits.” I have been using that phrase frequently since Apple hit $140. The last chart just formalizes it with math, but my opinion is that Apple will remain range-bound for some time, between $125 and $155, roughly. I still mean it: if your time horizon is short, now is a good time to take profits.</p><p><blockquote>“如果你的时间范围很短，现在是获利了结的好时机。”自从苹果股价达到140美元以来，我就经常使用这个短语。最后一张图表只是用数学将其形式化，但我的观点是苹果将在一段时间内保持区间波动，大约在125美元到155美元之间。我还是这个意思：如果你的时间范围很短，现在是获利了结的好时机。</blockquote></p><p></p><p> But I also believe that no other company is as prepared for the future of technology, regardless of what that brings. That is a&nbsp;far longer discussion. I have been buying Apple shares on the dip since 2005, which is two splits ago. My last buy was in January 2019, when Apple reported that they would miss guidance for the first time in many years. At the time, the commentariat was telling me that Apple’s best days were behind them. I tried to explain that Apple was in a transitional phase, part of a strategy they launched around 2015 to focus more on the growth of the iPhone user base than sales. The strategy would pay off soon, I predicted, and it did in fiscal 2021. That seems like a very long time ago now.</p><p><blockquote>但我也相信，没有其他公司为技术的未来做好了准备，无论它会带来什么。这是一个长得多的讨论。自2005年以来，我一直在逢低买入苹果股票，这是两次拆分前。我最后一次购买是在2019年1月，当时苹果报告称他们将多年来首次错过指导。当时，评论员告诉我，苹果最好的日子已经过去了。我试图解释说，苹果正处于过渡阶段，这是他们在2015年左右推出的战略的一部分，旨在更多地关注iPhone用户群的增长，而不是销售。我预测，这一策略很快就会得到回报，并且在2021财年就得到了回报。那似乎是很久以前的事了。</blockquote></p><p> A consequence of buying the dip from 2005 to 2019 is that I own way too many Apple shares that I could never bring myself to sell. I am massively overweight Apple. There is a “What To Do With The Apple Shares” clause in my will. It is our largest asset, worth more than the house. That has not made me nervous until the last few months, when the tide seemed to start turning on Apple on this issue. I also used to be someone who did not take this threat seriously. I am going to start shaving my position as opportunities present themselves, and one may happen this week with the iPhone launch on Tuesday.</p><p><blockquote>从2005年到2019年逢低买入的一个后果是，我拥有太多苹果股票，我永远无法出售。我完全是跑赢大盘·苹果。我的遗嘱里有一个“如何处理苹果股票”的条款。这是我们最大的资产，比房子还值钱。这并没有让我感到紧张，直到最近几个月，在这个问题上，潮流似乎开始转向苹果。我也曾经是一个不把这种威胁当回事的人。随着机会的出现，我将开始削减我的职位，其中一个可能会在本周周二iPhone的发布中发生。</blockquote></p><p> <i>To be clear, I will remain overweight Apple, just less so, and I remain bullish in the long term. But I no longer feel the safety I once did with this wildly overweight position.</i></p><p><blockquote><i>需要明确的是，我仍将是跑赢大盘·苹果，只是程度有所降低，而且从长远来看，我仍然看好。但是我不再感觉到曾经在这个疯狂的跑赢大盘位置上的安全感。</i></blockquote></p><p> In contrast, if you are a long term investor who does not have a massively overweight position, watch, wait and fight confirmation bias every day. If you think this begins and ends with Epic, you haven’t been paying attention.</p><p><blockquote>相比之下，如果您是一位没有大量跑赢大盘头寸的长期投资者，请每天观察、等待并对抗确认偏差。如果你认为这是以史诗开始和结束的，那你就没有注意。</blockquote></p><p> Please take this seriously.</p><p><blockquote>请认真对待这件事。</blockquote></p><p> I will be back in a few days with hopefully happier news from the iPhone launch on Tuesday. The big question is whether Apple can begin shipping iPhone before the quarter is out.</p><p><blockquote>几天后我会带着周二iPhone发布会的好消息回来。最大的问题是苹果能否在本季度结束前开始发货iPhone。</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>Apple App Store: The Tide Is Turning<blockquote>苹果应用商店：潮流正在转向</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\">\nApple App Store: The Tide Is Turning<blockquote>苹果应用商店：潮流正在转向</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-09-13 23:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>A US Federal District Court judge has ruled mostly in Apple’s favor in their case with Epic Games.</li>  <li>Despite that, and in conjunction with a recent settlement with Japanese regulators, Apple will be getting rid of their anti-steering rule. This is a bigger change than people think.</li>  <li>The threat to Apple doesn't end with the Epic trial. There are bigger threats coming from the executive and legislative branches in the US, and regulators in Europe and Asia.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/323e8503a813d4996ee819f5591992b8\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Chip Somodevilla/Getty Images News</span></p><p><blockquote><ul><li>美国联邦地区法院法官在Epic Games的案件中做出了对苹果有利的裁决。</li><li>尽管如此，加上最近与日本监管机构达成的和解，苹果将取消他们的反转向规则。这是一个比人们想象的更大的变化。</li><li>对苹果的威胁并没有随着史诗般的审判而结束。更大的威胁来自美国的行政和立法部门，以及欧洲和亚洲的监管机构。</li></ul><p class=\"t-img-caption\"><span>奇普·索莫德维拉/盖蒂图片社新闻</span></p></blockquote></p><p> <b>It Does Not End Here</b></p><p><blockquote><b>它并没有就此结束</b></blockquote></p><p> For&nbsp;some time now, I&nbsp;have been warning&nbsp;that&nbsp;antitrust law was about to change, and these changes would not be favorable to Apple(NASDAQ:AAPL), and that investors need to take these threats seriously. In every one of these attempts, I was rebuffed in the comments by many Apple shareholders telling me that these fears and warnings were overblown. “Long and strong AAPL!” cheerleading seems to be popular.Confirmation bias&nbsp;is a strong thing, and you should fight it every single day.</p><p><blockquote>一段时间以来，我一直警告反垄断法即将发生变化，这些变化对苹果（纳斯达克股票代码：AAPL）不利，投资者需要认真对待这些威胁。在每一次尝试中，我都遭到了许多苹果股东的拒绝，他们告诉我这些担忧和警告被夸大了。“长而强的AAPL！”啦啦队似乎很受欢迎。确认偏见是一种强烈的东西，你应该每天都与之斗争。</blockquote></p><p> My last attempt was&nbsp;less than two weeks ago, and I was similarly dismissed, and even accused of being a short-selling tout to boot. That last suggestion is pretty funny to anyone who has had to listen to me drone on about Apple stock the last 16 years. The consequence of those 16 years is that I have a lot of Apple stock, so I take things like this very seriously.</p><p><blockquote>我最后一次尝试是在不到两周前，我同样被驳回，甚至被指责为卖空者。对于那些在过去16年里不得不听我喋喋不休地谈论苹果股票的人来说，最后一个建议非常有趣。那16年的后果是我有很多苹果的股票，所以我非常认真地对待这样的事情。</blockquote></p><p> Friday’s decision in Epic v. Apple had one part very bad news for Apple, but mostly a rejection of Epic’s main claim — that iOS is a market unto itself. But the bigger threat continues to be from Congress, where they can change the law in a single session. The House has already passed several bipartisan bills through committee, and three of them seem to have pretty wide support with the rest of the House. A narrower, but just as damaging companion bill is about to start working its way through the Senate. Keep your eyes on Amy Klobuchar of Minnesota and Mike Lee of Utah.</p><p><blockquote>周五Epic诉苹果案的判决对苹果来说有一部分是非常坏的消息，但主要是拒绝了Epic的主要主张——iOS本身就是一个市场。但更大的威胁仍然来自国会，他们可以在一次会议中改变法律。众议院已经通过了几项两党法案，其中三项似乎得到了众议院其他成员的广泛支持。一项范围更窄但同样具有破坏性的配套法案即将开始在参议院通过。请关注明尼苏达州的艾米·克洛布查尔和犹他州的李政颖。</blockquote></p><p> Then we have regulatory action in the EU, Apple’s second most important region, where antitrust enforcers are siding with Spotify(NYSE:SPOT)in their dispute over in-app payments. Apple has already settled with Japan over their anti-steering rules. South Korea is forcing Apple and Google(NASDAQ:GOOGL)(NASDAQ:GOOG)to allow third-party in-app payments. China is a black hole of regulatory mystery.</p><p><blockquote>然后，我们在苹果第二重要地区欧盟采取了监管行动，那里的反垄断执法人员在应用内支付纠纷中站在Spotify（纽约证券交易所股票代码：SPOT）一边。苹果已经就日本的反转向规则与日本达成和解。南韩正在迫使苹果和谷歌（纳斯达克：GOOGL）（纳斯达克：GOOG）允许第三方应用内支付。中国是一个监管神秘的黑洞。</blockquote></p><p> The tide is turning on Apple on this issue. If you think this begins and ends with the Epic case, you haven’t been paying attention.</p><p><blockquote>在这个问题上，潮流正在转向苹果。如果你认为这是以史诗般的案件开始和结束的，那你就没有注意到。</blockquote></p><p> Right now the threat is confined to App Store, but this is the end of the beginning, not the beginning of the end. This new antitrust movement may come for other parts of Apple, like the other pillar of their fast-growing Services segment, AppleCare, and even dig deeper into the way Apple likes to do business.</p><p><blockquote>目前威胁仅局限于App Store，但是这是开始的结束，而非结束的开始。这场新的反垄断运动可能会降临到苹果的其他部门，比如他们快速增长的服务部门的另一个支柱AppleCare，甚至更深入地挖掘苹果喜欢的做生意方式。</blockquote></p><p> <b>What The Ruling Says</b></p><p><blockquote><b>裁决内容</b></blockquote></p><p> Judge Yvonne Gonzalez Rogers hewed very closely to existing law, because that’s what usually happens in District Court, the lowest level of the federal system. She mostly had bad news for Epic, and targeted bad news for Apple.</p><p><blockquote>伊冯娜·冈萨雷斯·罗杰斯法官非常严格地遵守现有法律，因为这通常是联邦系统最低级别的地区法院发生的事情。她主要是给Epic带来坏消息，并针对苹果带来坏消息。</blockquote></p><p> The case rested on how the court defined the “relevant market” in question. Epic wanted it to be iOS, a market unto itself because of the high walls Apple builds around the ecosystem. Judge Rogers rejected that novel claim pretty handily. But she also rejected Apple’s definition: all gaming transactions, including PCs and consoles. She settled on mobile gaming transactions, so essentially the iOS-Android duopoly of mobile gaming transactions.</p><p><blockquote>该案取决于法院如何定义所讨论的“相关市场”。Epic希望它成为iOS，一个独立的市场，因为苹果在生态系统周围筑起了高墙。罗杰斯法官轻而易举地驳回了这一新颖的主张。但她也拒绝了苹果的定义：所有游戏交易，包括PC和主机。她选择了移动游戏交易，所以本质上是移动游戏交易的iOS和Android双头垄断。</blockquote></p><p> Here is the meat of the decision that follows from that:</p><p><blockquote>以下是由此得出的决定的实质：</blockquote></p><p>   Given the trial record, the Court cannot ultimately conclude that Apple is a monopolist under either federal or state antitrust laws. While the Court finds that Apple enjoys considerable market share of over 55% and extraordinarily high profit margins, these factors alone do not show antitrust conduct. Success is not illegal…    Nonetheless, the trial did show that Apple is engaging in anticompetitive conduct under California’s competition laws. The Court concludes that Apple’s anti-steering provisions hide critical information from consumers and illegally stifle consumer choice. When coupled with Apple’s incipient antitrust violations, these anti-steering provisions are anticompetitive and a nationwide remedy to eliminate those provisions is warranted.  The most important thing to note here is that the problem for Apple is California law, not federal law. Federal law changing is where the real threat remains, and we are already well into that process.</p><p><blockquote>鉴于审判记录，法院无法最终得出结论，根据联邦或州反垄断法，苹果是垄断者。虽然法院发现苹果享有超过55%的可观市场份额和极高的利润率，但仅凭这些因素并不表明存在反垄断行为。成功并不违法……尽管如此，审判确实表明苹果参与了加州竞争法下的反竞争行为。法院的结论是，苹果的反转向条款向消费者隐瞒了关键信息，非法扼杀了消费者的选择。再加上苹果初期的反垄断违规行为，这些反转向条款是反竞争的，有必要在全国范围内采取补救措施来消除这些条款。这里最需要注意的是，苹果的问题是加州法律，而不是联邦法律。联邦法律的改变是真正的威胁所在，我们已经进入了这个过程。</blockquote></p><p></p><p> Judge Rogers ruled that Apple has to get rid of their anti-steering rules. App developers will now be allowed to inform users of less expensive options on their website, with a link. We’ll talk about the implications in a moment. Apple charges developers 30% for in-app payments, and the first year of in-app subscriptions (15% thereafter). In-app payments and subscriptions are substantially where all of App Store revenue comes from, about 28% of the Services segment and 5.4% of all revenue in calendar 2020.</p><p><blockquote>Rogers法官裁定苹果必须取消他们的反转向规则。应用开发者现在将被允许在他们的网站上通过链接通知用户更便宜的选项。我们一会儿会谈到其中的含义。苹果向开发者收取30%的应用内支付费用，以及第一年的应用内订阅费用（此后收取15%）。应用内支付和订阅基本上是App Store所有收入的来源，约占服务部门的28%，占2020年所有收入的5.4%。</blockquote></p><p> Also, in the category of rounding errors, Epic has to pay Apple the $3.6 million they owe them when they breached their contract. That’s about 0.001% of Apple’s 2021 top line.</p><p><blockquote>此外，在舍入错误类别中，Epic必须向苹果支付他们违反合同时欠他们的360万美元。这约占苹果2021年营收的0.001%。</blockquote></p><p> <b>Epic’s Game</b></p><p><blockquote><b>史诗的游戏</b></blockquote></p><p> If you read&nbsp;my first article&nbsp;about the trial from when the pre-trial filings dropped, you may notice that I was a bit confused about what precisely Epic’s game was here. The foundation of their entire argument — that iOS was a market unto itself — was novel, to say the least. At least one of their lawyers must have informed them of the low likelihood of success on their main claims. Moreover, they burned a lot of pages on arguments not central to their case, but seem more geared towards tarnishing Apple’s reputation.</p><p><blockquote>如果你读了我的第一篇关于预审文件撤销时的审判文章，你可能会注意到我对Epic的游戏到底是什么有点困惑。至少可以说，他们整个论点的基础——iOS本身就是一个市场——是新颖的。至少有一名律师必须告知他们主要索赔成功的可能性很低。此外，他们烧毁了很多页的论点，这些论点与他们的案件无关，但似乎更倾向于玷污苹果的声誉。</blockquote></p><p> My current understanding is that this case was a publicity stunt. What’s more, it worked. The point was to get this issue into the public conversation. Here I am writing about it, and here you are reading about it. But more importantly, the tide is turning in Washington, and I think the issues raised by this trial have accelerated that.</p><p><blockquote>我目前的理解是，这个案子是一个宣传噱头。更重要的是，它起作用了。重点是让这个问题进入公众对话。我在这里写它，你在这里读到它。但更重要的是，华盛顿的潮流正在发生转变，我认为这次审判提出的问题加速了这一点。</blockquote></p><p> <b>The Anti-Steering Rule</b></p><p><blockquote><b>反转向规则</b></blockquote></p><p> Like many of the App Store rules, the anti-steering rule was part of a multi-year whack-a-mole process where developers tried to find ways to cut out Apple, and Apple closed those holes. Apple fought very hard to keep this rule, but now seems to be capitulating. They settled with Japanese regulators recently on the anti-steering rules as it applied to media subscription apps, and applied the settlement to the rest of the world as well, maybe in anticipation of this ruling. With the Epic ruling, the anti-steering rule is gone.</p><p><blockquote>与许多App Store规则一样，反转向规则是多年打地鼠过程的一部分，开发者试图找到切断苹果的方法，苹果填补了这些漏洞。苹果非常努力地维护这一规则，但现在似乎投降了。他们最近与日本监管机构就适用于媒体订阅应用程序的反转向规则达成了和解，并将和解协议也适用于世界其他地区，也许是对这一裁决的预期。随着史诗般的裁决，反转向规则消失了。</blockquote></p><p> When a game developer like Epic sells their virtual currency on the App Store, they have a 30% payment fee. When they make the same transaction on their website, it is probably under 3%. This was always what this was about. Epic wanted to have their own in-app payment system to supersede Apple’s, without the friction of sending people to the website. Judge Rogers rejected that, but gave Epic a partial victory by banning Apple’s anti-steering rules.</p><p><blockquote>当像Epic这样的游戏开发商在App Store上出售他们的虚拟货币时，他们有30%的支付费用。当他们在自己的网站上进行同样的交易时，大概在3%以下。这一直都是为了这个。Epic希望拥有自己的应用内支付系统来取代苹果的支付系统，而不会出现将人们送到网站的摩擦。Rogers法官驳回了这一要求，但通过禁止苹果的反转向规则，Epic获得了部分胜利。</blockquote></p><p> The anti-steering rules prevented app developers from having text and links to their own much less expensive in-app payments or subscriptions on their websites. This is a real loss for Apple, and puts the whole structure of the two most lucrative payment methods in the App Store at risk.</p><p><blockquote>反转向规则阻止应用程序开发者在其网站上发布文本和链接到他们自己便宜得多的应用内支付或订阅。这对苹果来说是一个真正的损失，并将App Store中最赚钱的两种支付方式的整个结构置于危险之中。</blockquote></p><p> Let’s say a gaming company pays a 2.5% processing fee on their website. That means they have 27.5 percentage points of marketing to play with. They could give that entire 27.5% to users in the form of a rebate or freebies. It certainly increases friction to have to leave a game you're having fun with, but if there is a big, friendly, dark-patterned button that says “Want free money?” I think a lot of people would tap that button. What’s more, they get to book the same amount in revenue, and stick the cost down in sales and marketing.</p><p><blockquote>假设一家游戏公司在其网站上支付2.5%的处理费。这意味着他们有27.5个百分点的营销空间可以利用。他们可以以折扣或免费赠品的形式给用户全部27.5%。不得不离开一个你正在享受的游戏肯定会增加摩擦，但是如果有一个大的、友好的、深色图案的按钮写着“想要免费的钱吗？”我想很多人会点击那个按钮。更重要的是，他们可以记录相同金额的收入，并在销售和营销方面降低成本。</blockquote></p><p> That’s just one example of how companies may decide to go with this. That’s a lot of margin to play with. The reason Apple had this rule in the first place is that they feared someone would find the magic formula that would provide more revenue by eschewing in-app payments altogether, and everyone else would copy them. They had fought very hard to keep this rule for a reason.</p><p><blockquote>这只是公司可能决定采取这种做法的一个例子。这是一个很大的空间。苹果最初制定这条规则的原因是，他们担心有人会找到一个神奇的公式，通过完全避免应用内支付来提供更多收入，而其他人都会效仿他们。他们努力维护这条规则是有原因的。</blockquote></p><p> Just after the news broke, a friend who knows&nbsp;I own both stocks&nbsp;trolled me with this Bloomberg Terminal screenshot:</p><p><blockquote>消息传出后，一位知道我拥有这两只股票的朋友用这张彭博终端截图向我进行了攻击：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/78570d7ae73401a933b2359f3dcd47da\" tg-width=\"640\" tg-height=\"281\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Roblox(NYSE:RBLX)is a pure-play mobile gaming company. The vast majority of their revenues come from in-app payments from iOS and Android, the rest from their website sales. Their cost-of-revenues almost all goes to Apple and Google. In the TTM, they had a 74.4% gross margin. If they pay a 2.5% processing fee for website sales, that means 84% of their transaction value was through iOS and Android. If they could get that to 50-50, that would raise all their margins down to EBT by 10 percentage points. If they could get to 73% of sales on the website, they would have a 90% gross margin.</p><p><blockquote>Roblox（纽约证券交易所股票代码：RBLX）是一家纯粹的移动游戏公司。他们的绝大多数收入来自iOS和Android的应用内支付，其余来自网站销售。他们的收入成本几乎全部归苹果和谷歌所有。在TTM，他们的毛利率为74.4%。如果他们为网站销售支付2.5%的处理费，这意味着他们84%的交易价值是通过iOS和Android进行的。如果他们能够将这一比例提高到50-50，那么他们在EBT的所有利润率将提高10个百分点。如果他们能在网站上获得73%的销售额，他们将有90%的毛利率。</blockquote></p><p> There is a lot of money at stake, and a huge incentive for gaming and subscription media companies to figure out how to thread this needle. And that’s all in the absence of further action by the other two branches of government.</p><p><blockquote>这关系到大量的资金，游戏和订阅媒体公司也有巨大的动力去想办法解决这个问题。这一切都是在其他两个政府部门没有采取进一步行动的情况下发生的。</blockquote></p><p> <b>The Executive Branch</b></p><p><blockquote><b>行政部门</b></blockquote></p><p></p><p> This is a good place to discuss the theoretical underpinnings of the new antitrust movement, because two of its leaders now work in the Biden administration. The movement is sometimes referred to as the “neo-Brandeis” movement after Supreme Court Justice Louis Brandeis, because it harkens back to a much earlier era of antitrust enforcement that drastically changed in the 1980s.</p><p><blockquote>这是讨论新反垄断运动理论基础的好地方，因为其两位领导人现在在拜登政府工作。这场运动有时被称为“新布兰代斯”运动，以最高法院大法官路易斯·布兰代斯的名字命名，因为它可以追溯到更早的反垄断执法时代，该时代在20世纪80年代发生了巨大变化。</blockquote></p><p> In 1978, Robert Bork (yes,that Robert Bork) wrote a very influential book called&nbsp;<i>The Antitrust Paradox</i>. His theory urged a refocusing of enforcement away from competition, and towards consumer benefit as the main test. He argued that antitrust enforcement was propping up smaller, less efficient companies to the detriment of the economy.</p><p><blockquote>1978年，罗伯特·博克（没错，就是那个罗伯特·博克）写了一本非常有影响力的书，叫做<i>反垄断悖论</i>他的理论敦促将执法重点从竞争转向消费者利益作为主要检验标准。他认为，反垄断执法正在支撑规模较小、效率较低的公司，损害了经济。</blockquote></p><p> The 1982 AT&amp;T breakup consent decree became the prototype for the new enforcement. By controlling local and long distance telecommunication, as well as the equipment, AT&amp;T had been underinvesting and overcharging for decades. Their breakup brought an explosion of investment into telecommunications, and brought down prices quickly for landline service and equipment. That became the limit of antitrust enforcement.</p><p><blockquote>1982年美国电话电报公司分手同意法令成为新执法的原型。通过控制本地和长途电信以及设备，美国电话电报公司几十年来一直投资不足，收费过高。他们的分手带来了电信投资的爆炸式增长，并迅速降低了固定电话服务和设备的价格。这成为反垄断执法的极限。</blockquote></p><p> But the focus on consumer benefit has affected competition, and that’s what the neo-Brandeis movement hopes to change. They want antitrust enforcement to return to the way it was a century ago, with more of a focus on how large companies affect competition. Lina Khan, a law professor at Columbia, now runs the FTC, the primary antitrust enforcer in the federal government. Her 2017 law review article, “Amazon’s Antitrust Paradox” was the spark that lit this fire. Her colleague at Columbia Law, Tim Wu, is also one of the leaders of this movement. He is a member of the White House Council of Economic Advisors, and his fingerprints are all over&nbsp;the July competition executive order.</p><p><blockquote>但是对消费者利益的关注影响了竞争，这就是新布兰代斯运动希望改变的。他们希望反垄断执法回到一个世纪前的样子，更多地关注大公司如何影响竞争。哥伦比亚大学法学教授莉娜·汗(Lina Khan)现在负责联邦政府主要的反垄断执法机构联邦贸易委员会(FTC)。她2017年的法律评论文章《亚马逊的反垄断悖论》是点燃这场大火的火花。她在哥伦比亚法学院的同事蒂姆·吴也是这场运动的领导者之一。他是白宫经济顾问委员会的成员，7月份的竞争行政命令上到处都是他的指纹。</blockquote></p><p> The order was very wide ranging, with 72 initiatives covering 14 departments and agencies. Most of it does not relate to Apple, but it gives you an idea of the wide breadth of the order. As it relates to Apple:</p><p><blockquote>该命令范围非常广泛，有72项举措，涵盖14个部门和机构。它的大部分与苹果无关，但它让你对秩序的广度有所了解。就苹果而言：</blockquote></p><p> <ul>  <li>Right-to-repair is a huge threat to the other pillar of Services, AppleCare, which I estimate at 25%-30% of the segment. But more than that, it would change the way Apple makes devices. Apple squeezes out efficiency gains by attaching pooled memory directly to the main processor die, and by soldering storage into the motherboard. Both of these would likely be prohibited to them, and the devices would suffer.</li>  <li>The FTC is two months into a yearlong frisk of the mobile app ecosystem. Based on previous writings, Lina Khan will likely recommend third party app stores, “sideloading” directly from the web, and an end to the in-app payments monopoly.</li> </ul> Executive branch action is always subject to court challenges, and they can take very long to implement. But Congress can change the law in a single session. And they are already into that process.</p><p><blockquote><ul><li>维修权对服务的另一个支柱AppleCare来说是一个巨大的威胁，我估计AppleCare占该细分市场的25%-30%。但更重要的是，它将改变苹果制造设备的方式。苹果通过将池内存直接连接到主处理器芯片，以及将存储焊接到主板来挤出效率增益。这两个都可能被禁止，设备也会受到影响。</li><li>联邦贸易委员会对移动应用生态系统长达一年的搜查已经进行了两个月。根据之前的著作，Lina Khan可能会推荐第三方应用商店，直接从网络“侧装”，并结束应用内支付垄断。</li></ul>行政部门的行动总是受到法院的质疑，而且可能需要很长时间才能实施。但是国会可以在一届会议上改变法律。他们已经进入了这个过程。</blockquote></p><p> <b>The Legislative Branch</b></p><p><blockquote><b>立法部门</b></blockquote></p><p> Since there are two houses of Congress, this issue is off on two tracks. The House Judiciary Committee recently passed a suite of bipartisan bills. Of the ones that I think have a good likelihood of passing the full House, here’s how it affects Apple:</p><p><blockquote>由于国会有两院，这个问题在两条轨道上。众议院司法委员会最近通过了一系列两党法案。在我认为很有可能获得全院通过的法案中，以下是它对苹果的影响：</blockquote></p><p> They would be required to allow third party app stores, sideloading, and third party payments in the Apple App Store.</p><p><blockquote>他们将被要求允许苹果应用商店中的第三方应用商店、侧装和第三方支付。</blockquote></p><p> Restricting Apple’s ability to acquire smaller companies. In the past 6 years, Apple has bought around 100 companies, which works out to about one every three weeks on average. It looks like they had been accelerating since fiscal 2018, but then abruptly stopped in fiscal 2021. The reason is the new leader of the FTC.</p><p><blockquote>限制苹果收购小公司的能力。在过去的6年里，苹果收购了大约100家公司，平均每三周就收购一家。看起来他们自2018财年以来一直在加速，但在2021财年突然停止。原因是FTC的新领导人。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2fc9a2578663cc746fdb19ca19dea4c\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The big bulge you see there in 2014 is the Beats acquisition at $3 billion, which remains the exception. Otherwise, Apple buys very small companies for tens or hundreds of millions, usually shuts down any products they may have, and absorbs the talent and IP into Apple proper. Apple’s chip design unit, a cornerstone of their current success, began this way in 2008.</p><p><blockquote>你在2014年看到的最大增长是以30亿美元收购Beats，这仍然是个例外。否则，苹果会花数千万或数亿美元收购非常小的公司，通常会关闭他们可能拥有的任何产品，并将人才和知识产权吸收到苹果本土。苹果的芯片设计部门是他们目前成功的基石，2008年就是这样开始的。</blockquote></p><p> <b>No more private APIs.</b>This would mean everything, like the Apple Pay-enabling NFC chip, would be open to competitors.</p><p><blockquote><b>不再有私有API。</b>这意味着一切，比如支持苹果支付的NFC芯片，都将向竞争对手开放。</blockquote></p><p> <b>No more discriminatory rules.</b>Apple doesn’t force real-world product and service providers like Uber(NYSE:UBER)to use in-app payments. Apple would either have to try and get Uber to pay them 30%, or drop the requirement altogether.</p><p><blockquote><b>不再有歧视性的规则。</b>苹果不会强迫Uber（纽约证券交易所股票代码：UBER）等现实世界的产品和服务提供商使用应用内支付。苹果要么试图让优步向他们支付30%的费用，要么完全放弃这一要求。</blockquote></p><p> <b>The end of the Google search deal.</b>Google currently pays Apple a purported $12 billion a year to make Google the default search engine on iOS. This cash goes directly to EBT.</p><p><blockquote><b>谷歌搜索交易的结束。</b>谷歌目前据称每年向苹果支付120亿美元，以使谷歌成为iOS上的默认搜索引擎。这笔现金直接流向EBT。</blockquote></p><p> <b>They would have to expose more user data to developers.</b></p><p><blockquote><b>他们将不得不向开发者公开更多的用户数据。</b></blockquote></p><p> <b>Formalizing the anti-steering decision.</b></p><p><blockquote><b>正式确定反转向决策。</b></blockquote></p><p></p><p> <b>Anti-retaliation provision.</b>If these bills were law, Epic would still be on the App Store while they sued Apple.</p><p><blockquote><b>反报复条款。</b>如果这些法案成为法律，当他们起诉苹果时，Epic仍将在App Store上。</blockquote></p><p> After the House is done wrangling over budget reconciliation, I think these bills will hit the House floor this fall or winter, and I think that they have a high likelihood of passing in something like their current form.</p><p><blockquote>在众议院结束关于预算协调的争论后，我认为这些法案将在今年秋天或冬天提交众议院，我认为它们很有可能以目前的形式获得通过。</blockquote></p><p> But bills also have to clear the Senate, and they move slower. Things are just getting started there. The big movers in the Senate are Amy Klobuchar of Minnesota and Mike Lee of Utah. Klobuchar has&nbsp;written a long book&nbsp;on the subject, and it is not friendly towards Apple. She has also authored a new bill, Open App Markets Act. It is more narrow than the House suite, but not by much. It would still force Apple to allow third party app stores, sideloading, and third party in-app payments. They would also have to get rid of their private APIs. The bill is narrower than the House suite, and less of a threat to Apple, but still would mean the end of App Store as a driver of growth.<i>The Senate bill is the better outcome for Apple, and it is still terrible.</i></p><p><blockquote>但法案也必须通过参议院，而且进展较慢。那里的事情才刚刚开始。参议院的大推动者是明尼苏达州的艾米·克洛布查尔和犹他州的李政颖。Klobuchar就这个问题写了一本长书，它对苹果并不友好。她还起草了一项新法案《开放应用市场法案》。它比房子套房窄，但也窄不了多少。它仍将迫使苹果允许第三方应用商店、侧装和第三方应用内支付。他们还必须摆脱他们的私有API。该法案比众议院套房更窄，对苹果的威胁也更小，但仍意味着App Store作为增长驱动力的终结。<i>参议院的法案对苹果来说是更好的结果，但仍然很糟糕。</i></blockquote></p><p> I believe that we will see something pass before the next Presidential election, or even in this Congressional session. The best Apple shareholders can hope for is that the final bill gets watered down considerably.</p><p><blockquote>我相信，在下届总统选举之前，甚至在本届国会会议上，我们会看到一些事情通过。苹果股东最大的希望就是最终法案被大幅淡化。</blockquote></p><p> <b>Outside The US</b></p><p><blockquote><b>美国境外</b></blockquote></p><p> This is in no way limited to the US. We already discussed the Japanese settlement, and South Korea is forcing Apple and Google to allow third party in-app payments. The case that is farthest along in the EU is Spotify’s, which would force Apple to not charge fees to competing services, so that means music, podcasts, games, video and fitness.</p><p><blockquote>这绝不仅限于美国。我们已经讨论了日本的和解，南韩正在迫使苹果和谷歌允许第三方应用内支付。欧盟进展最快的案例是Spotify，这将迫使苹果不向竞争服务收费，因此这意味着音乐、播客、游戏、视频和健身。</blockquote></p><p> The Chinese Communist Party remains the&nbsp;second biggest tail risk in the world&nbsp;after climate change. Apple’s regulatory risk there is uniquely high, both on the supply and demand sides. Apple has already given into them by not providing their Chinese customers with the same level of privacy as everyone else. With the mood in China right now, who knows where that goes.</p><p><blockquote>中国共产党仍然是仅次于气候变化的世界第二大尾部风险。无论是在供应还是需求方面，苹果的监管风险都非常高。苹果已经屈服于他们，没有向他们的中国客户提供和其他人一样的隐私水平。以中国现在的情绪，谁知道会走向何方。</blockquote></p><p> <b>What Losing Control Of App Store Looks Like</b></p><p><blockquote><b>失去对App Store的控制是什么样子</b></blockquote></p><p> Stone Fox Capital here at Seeking Alpha is&nbsp;out with an article&nbsp;pivoting off Katy Huberty's estimation of a 2% earnings loss if the top 20 apps on the App Store were able to eschew in-app payments. Stone Fox would also like you to care about that seemingly small number:</p><p><blockquote>Seeking Alpha的Stone Fox Capital发表了一篇文章，反驳了Katy Huberty的估计，如果App Store上排名前20的应用程序能够避免应用内支付，收益将损失2%。石狐也希望大家关心一下这个看似很小的数字：</blockquote></p><p>   Apple won most of their legal case with Epic Games based on the ruling announced on September 10, but the tech giant lost the ultimate battle. The stock remains priced for perfection while the company continues to have growth paths chipped away from the business.  My last article on this subject was called “Chipping Away at App Store.” This is what is happening and the trend is now clear. There is a mood globally to take Apple down a peg, and it is happening too slowly for many people to realize it is happening.</p><p><blockquote>根据9月10日宣布的裁决，苹果赢得了与Epic Games的大部分法律诉讼，但这家科技巨头输掉了最终的战斗。该股的定价仍然是完美的，而该公司的增长道路继续从业务中被削弱。我上一篇关于这个主题的文章叫做“在App Store上削足适履”。这就是正在发生的事情，趋势现在很明显。全球都有一种降低苹果汇率的情绪，但这种情绪发生得太慢，许多人都没有意识到它正在发生。</blockquote></p><p> My own way of modeling the worst case is through my DCF model. It’s modeled as a 25% hit to Services in the first year, with services gross margin reduced from 68% to 65%, followed by a slightly increased growth rate in the segment because of composition effects — the rest of Services grows faster than App Store. I used to model that happening in fiscal 2024, but I have moved that up to fiscal 2023, beginning less than 13 months from now.</p><p><blockquote>我自己对最坏情况建模的方法是通过我的DCF模型。它的模型是第一年服务受到25%的打击，服务毛利率从68%下降到65%，随后由于构成效应，该细分市场的增长率略有上升——其余服务的增长速度快于App Store。我曾经对2024财年发生的情况进行建模，但我已将其提前到2023财年，从现在开始不到13个月。</blockquote></p><p> Here is the effect on fair value on my base case:</p><p><blockquote>以下是我的基本案例对公允价值的影响：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94b635fe7a2473aafe36bd095a1206b6\" tg-width=\"640\" tg-height=\"352\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Even with the very slow start for the reason Stone Fox says — the share price has gotten way out ahead of cash flows — my base case still shows an 11% CAGR in fair value through the end of fiscal 2025. The App Store collapse takes that down to an 8% CAGR, 12% lower by 2025.</p><p><blockquote>尽管由于Stone Fox所说的原因，起步非常缓慢——股价已经远远领先于现金流——但我的基本假设仍然显示，到2025财年末，公允价值复合年增长率为11%。App Store的倒闭使复合年增长率降至8%，到2025年将下降12%。</blockquote></p><p> Circling back, Stone Fox puts a button on this more succinctly than I can:</p><p><blockquote>回头，石狐比我更简洁地按下了一个按钮：</blockquote></p><p>   The key investor takeaway is that Apple has a bright future. The company will continue generating profits with operating cash flows topping $100 billion annually, but the tech giant will struggle to generate the growth needed to warrant the current stock price. The 2% hit to earnings might not seem meaningful, but the amount is very harmful to a stock priced for perfection.  <b>How To Take This Seriously</b></p><p><blockquote>投资者的主要收获是苹果拥有光明的未来。该公司将继续创造利润，每年运营现金流超过1000亿美元，但这家科技巨头将难以实现维持当前股价所需的增长。盈利2%的打击似乎没有意义，但这个数额对于定价完美的股票来说是非常有害的。<b>如何认真对待这个</b></blockquote></p><p> In my last article on this subject, someone cheekily replied in the comments, “‘Please take this seriously.’ What does that even mean?” That’s a good question. The first part of the answer is to stop pretending it’s not happening.</p><p><blockquote>在我关于这个主题的上一篇文章中，有人在评论中厚颜无耻地回答说：“‘请认真对待这件事。’这到底是什么意思？”这是个好问题。答案的第一部分是不要假装它没有发生。</blockquote></p><p> “If your time horizon is short, now is a good time to take profits.” I have been using that phrase frequently since Apple hit $140. The last chart just formalizes it with math, but my opinion is that Apple will remain range-bound for some time, between $125 and $155, roughly. I still mean it: if your time horizon is short, now is a good time to take profits.</p><p><blockquote>“如果你的时间范围很短，现在是获利了结的好时机。”自从苹果股价达到140美元以来，我就经常使用这个短语。最后一张图表只是用数学将其形式化，但我的观点是苹果将在一段时间内保持区间波动，大约在125美元到155美元之间。我还是这个意思：如果你的时间范围很短，现在是获利了结的好时机。</blockquote></p><p></p><p> But I also believe that no other company is as prepared for the future of technology, regardless of what that brings. That is a&nbsp;far longer discussion. I have been buying Apple shares on the dip since 2005, which is two splits ago. My last buy was in January 2019, when Apple reported that they would miss guidance for the first time in many years. At the time, the commentariat was telling me that Apple’s best days were behind them. I tried to explain that Apple was in a transitional phase, part of a strategy they launched around 2015 to focus more on the growth of the iPhone user base than sales. The strategy would pay off soon, I predicted, and it did in fiscal 2021. That seems like a very long time ago now.</p><p><blockquote>但我也相信，没有其他公司为技术的未来做好了准备，无论它会带来什么。这是一个长得多的讨论。自2005年以来，我一直在逢低买入苹果股票，这是两次拆分前。我最后一次购买是在2019年1月，当时苹果报告称他们将多年来首次错过指导。当时，评论员告诉我，苹果最好的日子已经过去了。我试图解释说，苹果正处于过渡阶段，这是他们在2015年左右推出的战略的一部分，旨在更多地关注iPhone用户群的增长，而不是销售。我预测，这一策略很快就会得到回报，并且在2021财年就得到了回报。那似乎是很久以前的事了。</blockquote></p><p> A consequence of buying the dip from 2005 to 2019 is that I own way too many Apple shares that I could never bring myself to sell. I am massively overweight Apple. There is a “What To Do With The Apple Shares” clause in my will. It is our largest asset, worth more than the house. That has not made me nervous until the last few months, when the tide seemed to start turning on Apple on this issue. I also used to be someone who did not take this threat seriously. I am going to start shaving my position as opportunities present themselves, and one may happen this week with the iPhone launch on Tuesday.</p><p><blockquote>从2005年到2019年逢低买入的一个后果是，我拥有太多苹果股票，我永远无法出售。我完全是跑赢大盘·苹果。我的遗嘱里有一个“如何处理苹果股票”的条款。这是我们最大的资产，比房子还值钱。这并没有让我感到紧张，直到最近几个月，在这个问题上，潮流似乎开始转向苹果。我也曾经是一个不把这种威胁当回事的人。随着机会的出现，我将开始削减我的职位，其中一个可能会在本周周二iPhone的发布中发生。</blockquote></p><p> <i>To be clear, I will remain overweight Apple, just less so, and I remain bullish in the long term. But I no longer feel the safety I once did with this wildly overweight position.</i></p><p><blockquote><i>需要明确的是，我仍将是跑赢大盘·苹果，只是程度有所降低，而且从长远来看，我仍然看好。但是我不再感觉到曾经在这个疯狂的跑赢大盘位置上的安全感。</i></blockquote></p><p> In contrast, if you are a long term investor who does not have a massively overweight position, watch, wait and fight confirmation bias every day. If you think this begins and ends with Epic, you haven’t been paying attention.</p><p><blockquote>相比之下，如果您是一位没有大量跑赢大盘头寸的长期投资者，请每天观察、等待并对抗确认偏差。如果你认为这是以史诗开始和结束的，那你就没有注意。</blockquote></p><p> Please take this seriously.</p><p><blockquote>请认真对待这件事。</blockquote></p><p> I will be back in a few days with hopefully happier news from the iPhone launch on Tuesday. The big question is whether Apple can begin shipping iPhone before the quarter is out.</p><p><blockquote>几天后我会带着周二iPhone发布会的好消息回来。最大的问题是苹果能否在本季度结束前开始发货iPhone。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4454891-apple-app-store-the-tide-is-turning\">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":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4454891-apple-app-store-the-tide-is-turning","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171919128","content_text":"Summary\n\nA US Federal District Court judge has ruled mostly in Apple’s favor in their case with Epic Games.\nDespite that, and in conjunction with a recent settlement with Japanese regulators, Apple will be getting rid of their anti-steering rule. This is a bigger change than people think.\nThe threat to Apple doesn't end with the Epic trial. There are bigger threats coming from the executive and legislative branches in the US, and regulators in Europe and Asia.\n\nChip Somodevilla/Getty Images News\nIt Does Not End Here\nFor some time now, I have been warning that antitrust law was about to change, and these changes would not be favorable to Apple(NASDAQ:AAPL), and that investors need to take these threats seriously. In every one of these attempts, I was rebuffed in the comments by many Apple shareholders telling me that these fears and warnings were overblown. “Long and strong AAPL!” cheerleading seems to be popular.Confirmation bias is a strong thing, and you should fight it every single day.\nMy last attempt was less than two weeks ago, and I was similarly dismissed, and even accused of being a short-selling tout to boot. That last suggestion is pretty funny to anyone who has had to listen to me drone on about Apple stock the last 16 years. The consequence of those 16 years is that I have a lot of Apple stock, so I take things like this very seriously.\nFriday’s decision in Epic v. Apple had one part very bad news for Apple, but mostly a rejection of Epic’s main claim — that iOS is a market unto itself. But the bigger threat continues to be from Congress, where they can change the law in a single session. The House has already passed several bipartisan bills through committee, and three of them seem to have pretty wide support with the rest of the House. A narrower, but just as damaging companion bill is about to start working its way through the Senate. Keep your eyes on Amy Klobuchar of Minnesota and Mike Lee of Utah.\nThen we have regulatory action in the EU, Apple’s second most important region, where antitrust enforcers are siding with Spotify(NYSE:SPOT)in their dispute over in-app payments. Apple has already settled with Japan over their anti-steering rules. South Korea is forcing Apple and Google(NASDAQ:GOOGL)(NASDAQ:GOOG)to allow third-party in-app payments. China is a black hole of regulatory mystery.\nThe tide is turning on Apple on this issue. If you think this begins and ends with the Epic case, you haven’t been paying attention.\nRight now the threat is confined to App Store, but this is the end of the beginning, not the beginning of the end. This new antitrust movement may come for other parts of Apple, like the other pillar of their fast-growing Services segment, AppleCare, and even dig deeper into the way Apple likes to do business.\nWhat The Ruling Says\nJudge Yvonne Gonzalez Rogers hewed very closely to existing law, because that’s what usually happens in District Court, the lowest level of the federal system. She mostly had bad news for Epic, and targeted bad news for Apple.\nThe case rested on how the court defined the “relevant market” in question. Epic wanted it to be iOS, a market unto itself because of the high walls Apple builds around the ecosystem. Judge Rogers rejected that novel claim pretty handily. But she also rejected Apple’s definition: all gaming transactions, including PCs and consoles. She settled on mobile gaming transactions, so essentially the iOS-Android duopoly of mobile gaming transactions.\nHere is the meat of the decision that follows from that:\n\n Given the trial record, the Court cannot ultimately conclude that Apple is a monopolist under either federal or state antitrust laws. While the Court finds that Apple enjoys considerable market share of over 55% and extraordinarily high profit margins, these factors alone do not show antitrust conduct. Success is not illegal…\n\n\n Nonetheless, the trial did show that Apple is engaging in anticompetitive conduct under California’s competition laws. The Court concludes that Apple’s anti-steering provisions hide critical information from consumers and illegally stifle consumer choice. When coupled with Apple’s incipient antitrust violations, these anti-steering provisions are anticompetitive and a nationwide remedy to eliminate those provisions is warranted.\n\nThe most important thing to note here is that the problem for Apple is California law, not federal law. Federal law changing is where the real threat remains, and we are already well into that process.\nJudge Rogers ruled that Apple has to get rid of their anti-steering rules. App developers will now be allowed to inform users of less expensive options on their website, with a link. We’ll talk about the implications in a moment. Apple charges developers 30% for in-app payments, and the first year of in-app subscriptions (15% thereafter). In-app payments and subscriptions are substantially where all of App Store revenue comes from, about 28% of the Services segment and 5.4% of all revenue in calendar 2020.\nAlso, in the category of rounding errors, Epic has to pay Apple the $3.6 million they owe them when they breached their contract. That’s about 0.001% of Apple’s 2021 top line.\nEpic’s Game\nIf you read my first article about the trial from when the pre-trial filings dropped, you may notice that I was a bit confused about what precisely Epic’s game was here. The foundation of their entire argument — that iOS was a market unto itself — was novel, to say the least. At least one of their lawyers must have informed them of the low likelihood of success on their main claims. Moreover, they burned a lot of pages on arguments not central to their case, but seem more geared towards tarnishing Apple’s reputation.\nMy current understanding is that this case was a publicity stunt. What’s more, it worked. The point was to get this issue into the public conversation. Here I am writing about it, and here you are reading about it. But more importantly, the tide is turning in Washington, and I think the issues raised by this trial have accelerated that.\nThe Anti-Steering Rule\nLike many of the App Store rules, the anti-steering rule was part of a multi-year whack-a-mole process where developers tried to find ways to cut out Apple, and Apple closed those holes. Apple fought very hard to keep this rule, but now seems to be capitulating. They settled with Japanese regulators recently on the anti-steering rules as it applied to media subscription apps, and applied the settlement to the rest of the world as well, maybe in anticipation of this ruling. With the Epic ruling, the anti-steering rule is gone.\nWhen a game developer like Epic sells their virtual currency on the App Store, they have a 30% payment fee. When they make the same transaction on their website, it is probably under 3%. This was always what this was about. Epic wanted to have their own in-app payment system to supersede Apple’s, without the friction of sending people to the website. Judge Rogers rejected that, but gave Epic a partial victory by banning Apple’s anti-steering rules.\nThe anti-steering rules prevented app developers from having text and links to their own much less expensive in-app payments or subscriptions on their websites. This is a real loss for Apple, and puts the whole structure of the two most lucrative payment methods in the App Store at risk.\nLet’s say a gaming company pays a 2.5% processing fee on their website. That means they have 27.5 percentage points of marketing to play with. They could give that entire 27.5% to users in the form of a rebate or freebies. It certainly increases friction to have to leave a game you're having fun with, but if there is a big, friendly, dark-patterned button that says “Want free money?” I think a lot of people would tap that button. What’s more, they get to book the same amount in revenue, and stick the cost down in sales and marketing.\nThat’s just one example of how companies may decide to go with this. That’s a lot of margin to play with. The reason Apple had this rule in the first place is that they feared someone would find the magic formula that would provide more revenue by eschewing in-app payments altogether, and everyone else would copy them. They had fought very hard to keep this rule for a reason.\nJust after the news broke, a friend who knows I own both stocks trolled me with this Bloomberg Terminal screenshot:\n\nRoblox(NYSE:RBLX)is a pure-play mobile gaming company. The vast majority of their revenues come from in-app payments from iOS and Android, the rest from their website sales. Their cost-of-revenues almost all goes to Apple and Google. In the TTM, they had a 74.4% gross margin. If they pay a 2.5% processing fee for website sales, that means 84% of their transaction value was through iOS and Android. If they could get that to 50-50, that would raise all their margins down to EBT by 10 percentage points. If they could get to 73% of sales on the website, they would have a 90% gross margin.\nThere is a lot of money at stake, and a huge incentive for gaming and subscription media companies to figure out how to thread this needle. And that’s all in the absence of further action by the other two branches of government.\nThe Executive Branch\nThis is a good place to discuss the theoretical underpinnings of the new antitrust movement, because two of its leaders now work in the Biden administration. The movement is sometimes referred to as the “neo-Brandeis” movement after Supreme Court Justice Louis Brandeis, because it harkens back to a much earlier era of antitrust enforcement that drastically changed in the 1980s.\nIn 1978, Robert Bork (yes,that Robert Bork) wrote a very influential book called The Antitrust Paradox. His theory urged a refocusing of enforcement away from competition, and towards consumer benefit as the main test. He argued that antitrust enforcement was propping up smaller, less efficient companies to the detriment of the economy.\nThe 1982 AT&T breakup consent decree became the prototype for the new enforcement. By controlling local and long distance telecommunication, as well as the equipment, AT&T had been underinvesting and overcharging for decades. Their breakup brought an explosion of investment into telecommunications, and brought down prices quickly for landline service and equipment. That became the limit of antitrust enforcement.\nBut the focus on consumer benefit has affected competition, and that’s what the neo-Brandeis movement hopes to change. They want antitrust enforcement to return to the way it was a century ago, with more of a focus on how large companies affect competition. Lina Khan, a law professor at Columbia, now runs the FTC, the primary antitrust enforcer in the federal government. Her 2017 law review article, “Amazon’s Antitrust Paradox” was the spark that lit this fire. Her colleague at Columbia Law, Tim Wu, is also one of the leaders of this movement. He is a member of the White House Council of Economic Advisors, and his fingerprints are all over the July competition executive order.\nThe order was very wide ranging, with 72 initiatives covering 14 departments and agencies. Most of it does not relate to Apple, but it gives you an idea of the wide breadth of the order. As it relates to Apple:\n\nRight-to-repair is a huge threat to the other pillar of Services, AppleCare, which I estimate at 25%-30% of the segment. But more than that, it would change the way Apple makes devices. Apple squeezes out efficiency gains by attaching pooled memory directly to the main processor die, and by soldering storage into the motherboard. Both of these would likely be prohibited to them, and the devices would suffer.\nThe FTC is two months into a yearlong frisk of the mobile app ecosystem. Based on previous writings, Lina Khan will likely recommend third party app stores, “sideloading” directly from the web, and an end to the in-app payments monopoly.\n\nExecutive branch action is always subject to court challenges, and they can take very long to implement. But Congress can change the law in a single session. And they are already into that process.\nThe Legislative Branch\nSince there are two houses of Congress, this issue is off on two tracks. The House Judiciary Committee recently passed a suite of bipartisan bills. Of the ones that I think have a good likelihood of passing the full House, here’s how it affects Apple:\nThey would be required to allow third party app stores, sideloading, and third party payments in the Apple App Store.\nRestricting Apple’s ability to acquire smaller companies. In the past 6 years, Apple has bought around 100 companies, which works out to about one every three weeks on average. It looks like they had been accelerating since fiscal 2018, but then abruptly stopped in fiscal 2021. The reason is the new leader of the FTC.\nData by YCharts\nThe big bulge you see there in 2014 is the Beats acquisition at $3 billion, which remains the exception. Otherwise, Apple buys very small companies for tens or hundreds of millions, usually shuts down any products they may have, and absorbs the talent and IP into Apple proper. Apple’s chip design unit, a cornerstone of their current success, began this way in 2008.\nNo more private APIs.This would mean everything, like the Apple Pay-enabling NFC chip, would be open to competitors.\nNo more discriminatory rules.Apple doesn’t force real-world product and service providers like Uber(NYSE:UBER)to use in-app payments. Apple would either have to try and get Uber to pay them 30%, or drop the requirement altogether.\nThe end of the Google search deal.Google currently pays Apple a purported $12 billion a year to make Google the default search engine on iOS. This cash goes directly to EBT.\nThey would have to expose more user data to developers.\nFormalizing the anti-steering decision.\nAnti-retaliation provision.If these bills were law, Epic would still be on the App Store while they sued Apple.\nAfter the House is done wrangling over budget reconciliation, I think these bills will hit the House floor this fall or winter, and I think that they have a high likelihood of passing in something like their current form.\nBut bills also have to clear the Senate, and they move slower. Things are just getting started there. The big movers in the Senate are Amy Klobuchar of Minnesota and Mike Lee of Utah. Klobuchar has written a long book on the subject, and it is not friendly towards Apple. She has also authored a new bill, Open App Markets Act. It is more narrow than the House suite, but not by much. It would still force Apple to allow third party app stores, sideloading, and third party in-app payments. They would also have to get rid of their private APIs. The bill is narrower than the House suite, and less of a threat to Apple, but still would mean the end of App Store as a driver of growth.The Senate bill is the better outcome for Apple, and it is still terrible.\nI believe that we will see something pass before the next Presidential election, or even in this Congressional session. The best Apple shareholders can hope for is that the final bill gets watered down considerably.\nOutside The US\nThis is in no way limited to the US. We already discussed the Japanese settlement, and South Korea is forcing Apple and Google to allow third party in-app payments. The case that is farthest along in the EU is Spotify’s, which would force Apple to not charge fees to competing services, so that means music, podcasts, games, video and fitness.\nThe Chinese Communist Party remains the second biggest tail risk in the world after climate change. Apple’s regulatory risk there is uniquely high, both on the supply and demand sides. Apple has already given into them by not providing their Chinese customers with the same level of privacy as everyone else. With the mood in China right now, who knows where that goes.\nWhat Losing Control Of App Store Looks Like\nStone Fox Capital here at Seeking Alpha is out with an article pivoting off Katy Huberty's estimation of a 2% earnings loss if the top 20 apps on the App Store were able to eschew in-app payments. Stone Fox would also like you to care about that seemingly small number:\n\n Apple won most of their legal case with Epic Games based on the ruling announced on September 10, but the tech giant lost the ultimate battle. The stock remains priced for perfection while the company continues to have growth paths chipped away from the business.\n\nMy last article on this subject was called “Chipping Away at App Store.” This is what is happening and the trend is now clear. There is a mood globally to take Apple down a peg, and it is happening too slowly for many people to realize it is happening.\nMy own way of modeling the worst case is through my DCF model. It’s modeled as a 25% hit to Services in the first year, with services gross margin reduced from 68% to 65%, followed by a slightly increased growth rate in the segment because of composition effects — the rest of Services grows faster than App Store. I used to model that happening in fiscal 2024, but I have moved that up to fiscal 2023, beginning less than 13 months from now.\nHere is the effect on fair value on my base case:\n\nEven with the very slow start for the reason Stone Fox says — the share price has gotten way out ahead of cash flows — my base case still shows an 11% CAGR in fair value through the end of fiscal 2025. The App Store collapse takes that down to an 8% CAGR, 12% lower by 2025.\nCircling back, Stone Fox puts a button on this more succinctly than I can:\n\n The key investor takeaway is that Apple has a bright future. The company will continue generating profits with operating cash flows topping $100 billion annually, but the tech giant will struggle to generate the growth needed to warrant the current stock price. The 2% hit to earnings might not seem meaningful, but the amount is very harmful to a stock priced for perfection.\n\nHow To Take This Seriously\nIn my last article on this subject, someone cheekily replied in the comments, “‘Please take this seriously.’ What does that even mean?” That’s a good question. The first part of the answer is to stop pretending it’s not happening.\n“If your time horizon is short, now is a good time to take profits.” I have been using that phrase frequently since Apple hit $140. The last chart just formalizes it with math, but my opinion is that Apple will remain range-bound for some time, between $125 and $155, roughly. I still mean it: if your time horizon is short, now is a good time to take profits.\nBut I also believe that no other company is as prepared for the future of technology, regardless of what that brings. That is a far longer discussion. I have been buying Apple shares on the dip since 2005, which is two splits ago. My last buy was in January 2019, when Apple reported that they would miss guidance for the first time in many years. At the time, the commentariat was telling me that Apple’s best days were behind them. I tried to explain that Apple was in a transitional phase, part of a strategy they launched around 2015 to focus more on the growth of the iPhone user base than sales. The strategy would pay off soon, I predicted, and it did in fiscal 2021. That seems like a very long time ago now.\nA consequence of buying the dip from 2005 to 2019 is that I own way too many Apple shares that I could never bring myself to sell. I am massively overweight Apple. There is a “What To Do With The Apple Shares” clause in my will. It is our largest asset, worth more than the house. That has not made me nervous until the last few months, when the tide seemed to start turning on Apple on this issue. I also used to be someone who did not take this threat seriously. I am going to start shaving my position as opportunities present themselves, and one may happen this week with the iPhone launch on Tuesday.\nTo be clear, I will remain overweight Apple, just less so, and I remain bullish in the long term. But I no longer feel the safety I once did with this wildly overweight position.\nIn contrast, if you are a long term investor who does not have a massively overweight position, watch, wait and fight confirmation bias every day. If you think this begins and ends with Epic, you haven’t been paying attention.\nPlease take this seriously.\nI will be back in a few days with hopefully happier news from the iPhone launch on Tuesday. The big question is whether Apple can begin shipping iPhone before the quarter is out.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142894933,"gmtCreate":1626139901122,"gmtModify":1633929751543,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Bullish time","listText":"Bullish time","text":"Bullish time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142894933","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohu8.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数首次收于35,000点，但所有3个股指均在银行财报公布前连续创下历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数收盘略低于35,000点的里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一综合指数连续创下纪录，以上周结束的方式开始了本周。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的收官之际，投资者正在等待美联储主席杰罗姆的半年度证词<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，一批经济报告贯穿整个星期，企业季度业绩的非正式开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数上涨126.02点，涨幅0.4%，收于创纪录的34,996.18点。</li><li>标普500指数SPX,+0.35%上涨15.08点，涨幅0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，此前盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收于历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。此次上涨发生在本周晚些时候可能成为催化剂的一些关键事件之前，包括财报季的非正式开始，<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>&amp;Co</b>鲍威尔将于周二在国会大厦作证，摩根大通+1.43%<a href=\"https://laohu8.com/S/HIL\">山丘</a>，以及有关通货膨胀的最新读数。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S.的收入，并补充说，目前，盈利已经掩盖了<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>超过计划的基础设施支出和可能更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>凯里对MarketWatch表示：“大多数人似乎都关注经济实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。”</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是美国国债收益率下降。政府债务利率的下调引发了人们对美国经济从疫情复苏的前景的质疑。COVID-19德尔塔变异毒株的蔓延已成为一个令人担忧的问题，但某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，人们对美联储货币政策的质疑也被指责为部分交易不稳定的原因。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>周一，10年期国债收益率MUBMUSD10Y, 1.365%小幅上涨不到一个基点至1.362%，而30年期国债收益率MUBMUSD30Y, 2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月1200亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管通胀和增长峰值的担忧继续渗透并令美国家庭担忧，但一些策略师表示，这些担忧对市场来说可能被“过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>由杰森·普莱德和迈克尔·雷诺兹领导的格伦梅德团队在周一的一份报告中写道：“之前的通胀担忧和当前的增长峰值担忧都可能是对近期趋势的过度推断，不会持续下去。”</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行中持续复苏的过程中，市场试图适应快速变化的信息流，可能会保持波动”，但这些因素“不应对市场造成长期破坏”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注delta驱动的COVID感染。美国以3385万例COVID病例和607156例死亡位居世界第一。安东尼·福奇博士周一表示，目前不需要加强剂，但周日CNN inview表示，看到保守派为低疫苗接种率欢呼是“令人震惊的”，并指责“意识形态僵化”阻碍了抗击疫情的斗争。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“我们长期以来一直警告说，疫苗接种不太可能引发向正常状态的平稳过渡，”本·梅说，<a href=\"https://laohu8.com/S/OXM\">牛津大学</a>经济学全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格数据。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“我们需要可持续的收入来源，而不是依赖于进一步对工人工资征税和加剧我们都致力于缩小的经济差距，”美国财政部长珍妮特·耶伦在向欧盟国家发表的关于修改国际企业税法的讲话中表示。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>她说：“我们需要制止企业将资本收入转移到低税收管辖区，以及让他们逃避支付公平份额的会计噱头。”</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>Inc</b>.AVGO,+1.16%据《华尔街日报》报道，这家芯片和软件公司正在就收购SAS Institute Inc.进行谈判，这笔交易的估值可能达到150亿至200亿美元，周一股价上涨1.2%。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc</b>特拉华联邦法官驳回了Blix Inc.的诉讼，称该诉讼未能证明苹果如何损害了移动操作系统市场的竞争，该公司股价一天下跌0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>LB表示，从8月3日开始，该公司将分拆为两家上市公司，维多利亚的秘密(Victoria's Secret&amp;Co.)的内衣部门将更名为“VSCO”，而Bath&amp;BodyWorks Inc.的子公司将更名为“BBWI”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>Inc</b>.GME,-1.04%周一，Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远未接近该公司周一189.25美元的收盘价。</li><li>户外烤架制造商韦伯(Weber)已申请上市，距其标志性的圆顶状烤架问世已近50年。股票将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>证券交易所，股票代码为WEBR。</li><li>本公司之股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid周一下跌17.3%，这是自2020年3月16日以来的最大单日跌幅，此前一天创始人理查德·布兰森(Richard Branson)和五名机组人员乘坐该公司的VSS成功飞入亚轨道空间<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力太空飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商.BASE周一设定了首次公开募股的条款，计划发行700万股，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为“BASE”。</li><li>本公司之股份<b>现代公司</b>.MRNA周一上涨2.8%，此前该公司表示将向阿根廷供应2000万剂COVID-19疫苗。</li><li>本公司之股份<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds公司</a>.</b>尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景，但SWI周一仍下跌1.8%。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>衡量美元兑六个主要竞争对手的ICE美元指数DXY上涨0.1%。</li><li>石油期货周一收低，美国基准Cl 00 Cl.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金GC 00收跌0.3%，报每盎司1805.90美元。</li><li>欧洲股市方面，斯托克欧洲600指数收盘上涨0.7%，而伦敦股市收盘上涨0.7%<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX周一收盘上涨0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨0.7%，恒生指数恒生指数上涨0.6%，日经225指数上涨2.3%。</li></ul></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数首次收于35,000点，但所有3个股指均在银行财报公布前连续创下历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数收盘略低于35,000点的里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一综合指数连续创下纪录，以上周结束的方式开始了本周。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的收官之际，投资者正在等待美联储主席杰罗姆的半年度证词<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，一批经济报告贯穿整个星期，企业季度业绩的非正式开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数上涨126.02点，涨幅0.4%，收于创纪录的34,996.18点。</li><li>标普500指数SPX,+0.35%上涨15.08点，涨幅0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，此前盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收于历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。此次上涨发生在本周晚些时候可能成为催化剂的一些关键事件之前，包括财报季的非正式开始，<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>&amp;Co</b>鲍威尔将于周二在国会大厦作证，摩根大通+1.43%<a href=\"https://laohu8.com/S/HIL\">山丘</a>，以及有关通货膨胀的最新读数。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S.的收入，并补充说，目前，盈利已经掩盖了<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>超过计划的基础设施支出和可能更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>凯里对MarketWatch表示：“大多数人似乎都关注经济实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。”</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是美国国债收益率下降。政府债务利率的下调引发了人们对美国经济从疫情复苏的前景的质疑。COVID-19德尔塔变异毒株的蔓延已成为一个令人担忧的问题，但某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，人们对美联储货币政策的质疑也被指责为部分交易不稳定的原因。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>周一，10年期国债收益率MUBMUSD10Y, 1.365%小幅上涨不到一个基点至1.362%，而30年期国债收益率MUBMUSD30Y, 2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月1200亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管通胀和增长峰值的担忧继续渗透并令美国家庭担忧，但一些策略师表示，这些担忧对市场来说可能被“过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>由杰森·普莱德和迈克尔·雷诺兹领导的格伦梅德团队在周一的一份报告中写道：“之前的通胀担忧和当前的增长峰值担忧都可能是对近期趋势的过度推断，不会持续下去。”</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行中持续复苏的过程中，市场试图适应快速变化的信息流，可能会保持波动”，但这些因素“不应对市场造成长期破坏”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注delta驱动的COVID感染。美国以3385万例COVID病例和607156例死亡位居世界第一。安东尼·福奇博士周一表示，目前不需要加强剂，但周日CNN inview表示，看到保守派为低疫苗接种率欢呼是“令人震惊的”，并指责“意识形态僵化”阻碍了抗击疫情的斗争。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“我们长期以来一直警告说，疫苗接种不太可能引发向正常状态的平稳过渡，”本·梅说，<a href=\"https://laohu8.com/S/OXM\">牛津大学</a>经济学全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格数据。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“我们需要可持续的收入来源，而不是依赖于进一步对工人工资征税和加剧我们都致力于缩小的经济差距，”美国财政部长珍妮特·耶伦在向欧盟国家发表的关于修改国际企业税法的讲话中表示。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>她说：“我们需要制止企业将资本收入转移到低税收管辖区，以及让他们逃避支付公平份额的会计噱头。”</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>Inc</b>.AVGO,+1.16%据《华尔街日报》报道，这家芯片和软件公司正在就收购SAS Institute Inc.进行谈判，这笔交易的估值可能达到150亿至200亿美元，周一股价上涨1.2%。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc</b>特拉华联邦法官驳回了Blix Inc.的诉讼，称该诉讼未能证明苹果如何损害了移动操作系统市场的竞争，该公司股价一天下跌0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>LB表示，从8月3日开始，该公司将分拆为两家上市公司，维多利亚的秘密(Victoria's Secret&amp;Co.)的内衣部门将更名为“VSCO”，而Bath&amp;BodyWorks Inc.的子公司将更名为“BBWI”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>Inc</b>.GME,-1.04%周一，Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远未接近该公司周一189.25美元的收盘价。</li><li>户外烤架制造商韦伯(Weber)已申请上市，距其标志性的圆顶状烤架问世已近50年。股票将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>证券交易所，股票代码为WEBR。</li><li>本公司之股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid周一下跌17.3%，这是自2020年3月16日以来的最大单日跌幅，此前一天创始人理查德·布兰森(Richard Branson)和五名机组人员乘坐该公司的VSS成功飞入亚轨道空间<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力太空飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商.BASE周一设定了首次公开募股的条款，计划发行700万股，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为“BASE”。</li><li>本公司之股份<b>现代公司</b>.MRNA周一上涨2.8%，此前该公司表示将向阿根廷供应2000万剂COVID-19疫苗。</li><li>本公司之股份<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds公司</a>.</b>尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景，但SWI周一仍下跌1.8%。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>衡量美元兑六个主要竞争对手的ICE美元指数DXY上涨0.1%。</li><li>石油期货周一收低，美国基准Cl 00 Cl.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金GC 00收跌0.3%，报每盎司1805.90美元。</li><li>欧洲股市方面，斯托克欧洲600指数收盘上涨0.7%，而伦敦股市收盘上涨0.7%<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX周一收盘上涨0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨0.7%，恒生指数恒生指数上涨0.6%，日经225指数上涨2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128132374,"gmtCreate":1624505151898,"gmtModify":1634005123797,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Go TESLA","listText":"Go TESLA","text":"Go TESLA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/128132374","repostId":"2145156570","repostType":4,"isVote":1,"tweetType":1,"viewCount":476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138758372,"gmtCreate":1621977782596,"gmtModify":1634185094670,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Tesla is number 1 in EV","listText":"Tesla is number 1 in EV","text":"Tesla is number 1 in EV","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/138758372","repostId":"2138934961","repostType":4,"isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374045388,"gmtCreate":1619404557644,"gmtModify":1634273739965,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Dont forget, May 1'st","listText":"Dont forget, May 1'st","text":"Dont forget, May 1'st","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/374045388","repostId":"1196378304","repostType":4,"isVote":1,"tweetType":1,"viewCount":714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348520343,"gmtCreate":1617943228082,"gmtModify":1634295605822,"author":{"id":"3581036261146444","authorId":"3581036261146444","name":"Dsd","avatar":"https://static.tigerbbs.com/2a1957746498df0232ae53ac81018443","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581036261146444","authorIdStr":"3581036261146444"},"themes":[],"htmlText":"Covid gone, recoveru up ahead","listText":"Covid gone, recoveru up ahead","text":"Covid gone, recoveru up ahead","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/348520343","repostId":"1160289591","repostType":4,"repost":{"id":"1160289591","kind":"news","pubTimestamp":1617941885,"share":"https://www.laohu8.com/m/news/1160289591?lang=zh_CN&edition=full","pubTime":"2021-04-09 12:18","market":"hk","language":"en","title":"Asia: Markets mostly down but optimism remains<blockquote>亚洲：市场大多下跌但乐观情绪依然存在</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160289591","media":"AFP","summary":"[HONG KONG] Most Asian markets retreated on Friday as traders took their foot off the pedal ahead of","content":"<p>[HONG KONG] Most Asian markets retreated on Friday as traders took their foot off the pedal ahead of a much-anticipated earnings season, while an increasingly confident mood on trading floors has analysts predicting the global equities rally still has legs.</p><p><blockquote>[香港]大多数亚洲市场周五下跌，因为交易员在备受期待的财报季之前放松了脚步，而交易大厅里日益自信的情绪让分析师预测全球股市仍有上涨的势头。</blockquote></p><p> While some countries are having trouble with their vaccine programmes and a pick-up in infections, there is a general feeling that governments will get a better hold on the crisis and allow economies to reopen, if a little later than previously hoped.</p><p><blockquote>尽管一些国家的疫苗计划遇到了问题，感染人数有所上升，但人们普遍认为，政府将更好地控制危机，并允许经济重新开放，尽管比之前希望的要晚一点。</blockquote></p><p> Wall Street provided another strong lead, with the S&amp;P 500 chalking up a second successive record and the Nasdaq piling on more than one percent as tech shares regained their mojo, having suffered recent selling.</p><p><blockquote>华尔街再次强劲领先，标普500连续第二次创下纪录，纳斯达克股价上涨超过1%，科技股在最近遭受抛售后重拾魔力。</blockquote></p><p> Federal Reserve boss Jerome Powell again repeated his mantra that the bank would stand fast in its pledge to keep borrowing costs at record lows for as long as needed to support recovery in the world's top economy.</p><p><blockquote>美联储主席杰罗姆·鲍威尔再次重申了他的口号，即只要需要支持世界最大经济体的复苏，该行将坚定承诺将借贷成本保持在历史低点。</blockquote></p><p> While last week's blockbuster jobs report was welcome, he said the \"recovery remains uneven and incomplete\" and he wanted to see more of those in future before he was happy progress was being made.</p><p><blockquote>虽然上周重磅的就业报告受到欢迎，但他表示“复苏仍然不平衡和不完整”，他希望在未来看到更多这样的情况，然后才对取得进展感到高兴。</blockquote></p><p> Analysts said an unexpected rise in jobless claims last week backed up Mr Powell's stance.</p><p><blockquote>分析师表示，上周初请失业金人数意外上升支持了鲍威尔的立场。</blockquote></p><p> There remains a concern that the forecast strong recovery, reopening of the economy, President Joe Biden's vast spending sprees and the rollout of vaccines will fan inflation to a point that the Fed will be forced to lift rates earlier than it intends.</p><p><blockquote>人们仍然担心，预测的强劲复苏、经济重新开放、总统乔·拜登的大规模支出以及疫苗的推出将加剧通胀，以至于美联储将被迫比预期更早加息。</blockquote></p><p> Yields on benchmark 10-year Treasuries - a gauge of future rates - edged down as Mr Powell spoke, though they remain around a one-year high.</p><p><blockquote>鲍威尔发表讲话时，基准10年期国债收益率（衡量未来利率的指标）小幅下跌，但仍处于一年高点附近。</blockquote></p><p> <b>'KIDS IN A CANDY STORE'</b></p><p><blockquote><b>“糖果店里的孩子”</b></blockquote></p><p> Data on Friday showed Chinese producer prices rose at their fastest pace in more than two years owing to a jump in the cost of commodities.</p><p><blockquote>周五的数据显示，由于大宗商品成本飙升，中国生产者价格以两年多来最快的速度上涨。</blockquote></p><p> That has led to concerns the increases will filter through to the world economy from the export giant, putting pressure on central banks as they try to keep borrowing costs down.</p><p><blockquote>这引发了人们的担忧，即加息将从这个出口巨头渗透到世界经济，给试图降低借贷成本的央行带来压力。</blockquote></p><p> Axi strategist Stephen Innes said the figures \"might add a ripple or two of angst to the inflation pacifist calm that has fallen on the market\".</p><p><blockquote>Axi策略师斯蒂芬·英尼斯(Stephen Innes)表示，这些数据“可能会给市场上已经陷入的通胀和平主义平静增添一两丝焦虑”。</blockquote></p><p> Still, he added, \"Make no mistake this is a global equity market that is turning exceptionally comfortable with growth driving up yields supported by a Fed that is in absolutely no hurry to tap the brakes.</p><p><blockquote>不过，他补充道，“毫无疑问，这是一个全球股市，在美联储绝对不急于踩刹车的支持下，经济增长推高了收益率。</blockquote></p><p> \"The question is, does it get better than this, or are we nearing peak optimism? Or will US stocks remain in 'kids in a candy store mode' while gliding on a sugar rush tailwind from a once in a generation type stimulus effect?\"</p><p><blockquote>“问题是，情况会比这更好吗，还是我们正在接近乐观情绪的顶峰？或者，美国股市是否会继续处于‘糖果店的孩子模式’，同时在一代人一次的刺激效应带来的食糖热潮中滑行？”</blockquote></p><p> In early trade, Hong Kong and Shanghai, Sydney, Seoul, Singapore and Wellington were all lower, though there were gains in Tokyo and Jakarta.</p><p><blockquote>早盘交易中，香港和上海、悉尼、首尔、新加坡和惠灵顿均走低，但东京和雅加达有所上涨。</blockquote></p><p> But Xi Qiao at UBS Global Wealth Management said there would likely be more gains in the pipeline.</p><p><blockquote>但瑞银全球财富管理的*·乔表示，未来可能会有更多收益。</blockquote></p><p> \"A lot of investors are worried about the stock market highs, but that doesn't mean it can't get higher, and the economic conditions are certainly set up for a positive equity environment,\" she told Bloomberg TV.</p><p><blockquote>她对彭博电视台表示：“很多投资者都担心股市高点，但这并不意味着股市不能走高，而且经济状况肯定为积极的股市环境奠定了基础。”</blockquote></p><p> Eyes are now turning to the release of corporate results for January to March, with expectations high that companies are seeing the benefits of the recovery and are hopeful for the outlook.</p><p><blockquote>现在人们的目光转向了1月至3月企业业绩的发布，人们对企业看到复苏的好处并对前景充满希望的期望很高。</blockquote></p><p></p>","source":"lsy1605843958005","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Asia: Markets mostly down but optimism remains<blockquote>亚洲：市场大多下跌但乐观情绪依然存在</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAsia: Markets mostly down but optimism remains<blockquote>亚洲：市场大多下跌但乐观情绪依然存在</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">AFP</strong><span class=\"h-time small\">2021-04-09 12:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>[HONG KONG] Most Asian markets retreated on Friday as traders took their foot off the pedal ahead of a much-anticipated earnings season, while an increasingly confident mood on trading floors has analysts predicting the global equities rally still has legs.</p><p><blockquote>[香港]大多数亚洲市场周五下跌，因为交易员在备受期待的财报季之前放松了脚步，而交易大厅里日益自信的情绪让分析师预测全球股市仍有上涨的势头。</blockquote></p><p> While some countries are having trouble with their vaccine programmes and a pick-up in infections, there is a general feeling that governments will get a better hold on the crisis and allow economies to reopen, if a little later than previously hoped.</p><p><blockquote>尽管一些国家的疫苗计划遇到了问题，感染人数有所上升，但人们普遍认为，政府将更好地控制危机，并允许经济重新开放，尽管比之前希望的要晚一点。</blockquote></p><p> Wall Street provided another strong lead, with the S&amp;P 500 chalking up a second successive record and the Nasdaq piling on more than one percent as tech shares regained their mojo, having suffered recent selling.</p><p><blockquote>华尔街再次强劲领先，标普500连续第二次创下纪录，纳斯达克股价上涨超过1%，科技股在最近遭受抛售后重拾魔力。</blockquote></p><p> Federal Reserve boss Jerome Powell again repeated his mantra that the bank would stand fast in its pledge to keep borrowing costs at record lows for as long as needed to support recovery in the world's top economy.</p><p><blockquote>美联储主席杰罗姆·鲍威尔再次重申了他的口号，即只要需要支持世界最大经济体的复苏，该行将坚定承诺将借贷成本保持在历史低点。</blockquote></p><p> While last week's blockbuster jobs report was welcome, he said the \"recovery remains uneven and incomplete\" and he wanted to see more of those in future before he was happy progress was being made.</p><p><blockquote>虽然上周重磅的就业报告受到欢迎，但他表示“复苏仍然不平衡和不完整”，他希望在未来看到更多这样的情况，然后才对取得进展感到高兴。</blockquote></p><p> Analysts said an unexpected rise in jobless claims last week backed up Mr Powell's stance.</p><p><blockquote>分析师表示，上周初请失业金人数意外上升支持了鲍威尔的立场。</blockquote></p><p> There remains a concern that the forecast strong recovery, reopening of the economy, President Joe Biden's vast spending sprees and the rollout of vaccines will fan inflation to a point that the Fed will be forced to lift rates earlier than it intends.</p><p><blockquote>人们仍然担心，预测的强劲复苏、经济重新开放、总统乔·拜登的大规模支出以及疫苗的推出将加剧通胀，以至于美联储将被迫比预期更早加息。</blockquote></p><p> Yields on benchmark 10-year Treasuries - a gauge of future rates - edged down as Mr Powell spoke, though they remain around a one-year high.</p><p><blockquote>鲍威尔发表讲话时，基准10年期国债收益率（衡量未来利率的指标）小幅下跌，但仍处于一年高点附近。</blockquote></p><p> <b>'KIDS IN A CANDY STORE'</b></p><p><blockquote><b>“糖果店里的孩子”</b></blockquote></p><p> Data on Friday showed Chinese producer prices rose at their fastest pace in more than two years owing to a jump in the cost of commodities.</p><p><blockquote>周五的数据显示，由于大宗商品成本飙升，中国生产者价格以两年多来最快的速度上涨。</blockquote></p><p> That has led to concerns the increases will filter through to the world economy from the export giant, putting pressure on central banks as they try to keep borrowing costs down.</p><p><blockquote>这引发了人们的担忧，即加息将从这个出口巨头渗透到世界经济，给试图降低借贷成本的央行带来压力。</blockquote></p><p> Axi strategist Stephen Innes said the figures \"might add a ripple or two of angst to the inflation pacifist calm that has fallen on the market\".</p><p><blockquote>Axi策略师斯蒂芬·英尼斯(Stephen Innes)表示，这些数据“可能会给市场上已经陷入的通胀和平主义平静增添一两丝焦虑”。</blockquote></p><p> Still, he added, \"Make no mistake this is a global equity market that is turning exceptionally comfortable with growth driving up yields supported by a Fed that is in absolutely no hurry to tap the brakes.</p><p><blockquote>不过，他补充道，“毫无疑问，这是一个全球股市，在美联储绝对不急于踩刹车的支持下，经济增长推高了收益率。</blockquote></p><p> \"The question is, does it get better than this, or are we nearing peak optimism? Or will US stocks remain in 'kids in a candy store mode' while gliding on a sugar rush tailwind from a once in a generation type stimulus effect?\"</p><p><blockquote>“问题是，情况会比这更好吗，还是我们正在接近乐观情绪的顶峰？或者，美国股市是否会继续处于‘糖果店的孩子模式’，同时在一代人一次的刺激效应带来的食糖热潮中滑行？”</blockquote></p><p> In early trade, Hong Kong and Shanghai, Sydney, Seoul, Singapore and Wellington were all lower, though there were gains in Tokyo and Jakarta.</p><p><blockquote>早盘交易中，香港和上海、悉尼、首尔、新加坡和惠灵顿均走低，但东京和雅加达有所上涨。</blockquote></p><p> But Xi Qiao at UBS Global Wealth Management said there would likely be more gains in the pipeline.</p><p><blockquote>但瑞银全球财富管理的*·乔表示，未来可能会有更多收益。</blockquote></p><p> \"A lot of investors are worried about the stock market highs, but that doesn't mean it can't get higher, and the economic conditions are certainly set up for a positive equity environment,\" she told Bloomberg TV.</p><p><blockquote>她对彭博电视台表示：“很多投资者都担心股市高点，但这并不意味着股市不能走高，而且经济状况肯定为积极的股市环境奠定了基础。”</blockquote></p><p> Eyes are now turning to the release of corporate results for January to March, with expectations high that companies are seeing the benefits of the recovery and are hopeful for the outlook.</p><p><blockquote>现在人们的目光转向了1月至3月企业业绩的发布，人们对企业看到复苏的好处并对前景充满希望的期望很高。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.businesstimes.com.sg/stocks/asia-markets-mostly-down-but-optimism-remains\">AFP</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.businesstimes.com.sg/stocks/asia-markets-mostly-down-but-optimism-remains","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160289591","content_text":"[HONG KONG] Most Asian markets retreated on Friday as traders took their foot off the pedal ahead of a much-anticipated earnings season, while an increasingly confident mood on trading floors has analysts predicting the global equities rally still has legs.\nWhile some countries are having trouble with their vaccine programmes and a pick-up in infections, there is a general feeling that governments will get a better hold on the crisis and allow economies to reopen, if a little later than previously hoped.\nWall Street provided another strong lead, with the S&P 500 chalking up a second successive record and the Nasdaq piling on more than one percent as tech shares regained their mojo, having suffered recent selling.\nFederal Reserve boss Jerome Powell again repeated his mantra that the bank would stand fast in its pledge to keep borrowing costs at record lows for as long as needed to support recovery in the world's top economy.\nWhile last week's blockbuster jobs report was welcome, he said the \"recovery remains uneven and incomplete\" and he wanted to see more of those in future before he was happy progress was being made.\nAnalysts said an unexpected rise in jobless claims last week backed up Mr Powell's stance.\nThere remains a concern that the forecast strong recovery, reopening of the economy, President Joe Biden's vast spending sprees and the rollout of vaccines will fan inflation to a point that the Fed will be forced to lift rates earlier than it intends.\nYields on benchmark 10-year Treasuries - a gauge of future rates - edged down as Mr Powell spoke, though they remain around a one-year high.\n'KIDS IN A CANDY STORE'\nData on Friday showed Chinese producer prices rose at their fastest pace in more than two years owing to a jump in the cost of commodities.\nThat has led to concerns the increases will filter through to the world economy from the export giant, putting pressure on central banks as they try to keep borrowing costs down.\nAxi strategist Stephen Innes said the figures \"might add a ripple or two of angst to the inflation pacifist calm that has fallen on the market\".\nStill, he added, \"Make no mistake this is a global equity market that is turning exceptionally comfortable with growth driving up yields supported by a Fed that is in absolutely no hurry to tap the brakes.\n\"The question is, does it get better than this, or are we nearing peak optimism? Or will US stocks remain in 'kids in a candy store mode' while gliding on a sugar rush tailwind from a once in a generation type stimulus effect?\"\nIn early trade, Hong Kong and Shanghai, Sydney, Seoul, Singapore and Wellington were all lower, though there were gains in Tokyo and Jakarta.\nBut Xi Qiao at UBS Global Wealth Management said there would likely be more gains in the pipeline.\n\"A lot of investors are worried about the stock market highs, but that doesn't mean it can't get higher, and the economic conditions are certainly set up for a positive equity environment,\" she told Bloomberg TV.\nEyes are now turning to the release of corporate results for January to March, with expectations high that companies are seeing the benefits of the recovery and are hopeful for the outlook.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}