brandonwcj的个人主页 - 老虎社区

brandonwcj

brandonwcj

暂无个人介绍

IP属地：未知

214关注

6粉丝

0主题

0勋章

2021-07-31

Congrats

You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>

2021-07-26

Could be good to accumulate. NFA

抱歉，原内容已删除

2021-07-25

Will it be a good opportunity?

Tencent was ordered to remove the exclusive copyright of online music<blockquote>腾讯控股被勒令删除在线音乐的独家版权</blockquote>

2021-07-22

Another ATH?

抱歉，原内容已删除

2021-07-13

Ath!

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

2021-07-10

Thanks

抱歉，原内容已删除

2021-07-09

All about making $$$

抱歉，原内容已删除

2021-07-07

危机？

抱歉，原内容已删除

2021-07-06

China power!!!

Nio Expected To Gross 5% More EV Deliveries In 2021 Than Previous Forecast, Says CICC<blockquote>中金公司表示，蔚来预计 2021 年电动汽车交付量将比之前的预测增加 5%</blockquote>

2021-07-04

Stay cautious

The Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote>

2021-07-02

Good demand for chips

抱歉，原内容已删除

2021-07-02

Good!

Amazon Stock Price: How It Can Climb Up To 30%<blockquote>亚马逊股价：如何攀升至 30%</blockquote>

2021-06-27

Nice recommendation

抱歉，原内容已删除

2021-06-26

Missed the boat

抱歉，原内容已删除

2021-06-22

Interesting move. Good in free marketing

抱歉，原内容已删除

2021-06-20

What can we do?

抱歉，原内容已删除

2021-06-19

Ok. Fight on!

抱歉，原内容已删除

2021-06-18

Interesting move

抱歉，原内容已删除

2021-06-17

Thanks for the list

抱歉，原内容已删除

2021-06-15

Scary.. bottomless pit like sia

Royal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3581588311288634","uuid":"3581588311288634","gmtCreate":1618495060148,"gmtModify":1619071009916,"name":"brandonwcj","pinyin":"brandonwcj","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":6,"headSize":214,"tweetSize":37,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-3","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"偶像虎友","description":"加入老虎社区1500天","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.05.25","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":802376748,"gmtCreate":1627725766684,"gmtModify":1631888905525,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Congrats","listText":"Congrats","text":"Congrats","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802376748","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">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":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177793227,"gmtCreate":1627260608169,"gmtModify":1631888905536,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Could be good to accumulate. NFA","listText":"Could be good to accumulate. NFA","text":"Could be good to accumulate. NFA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177793227","repostId":"1167624311","repostType":4,"isVote":1,"tweetType":1,"viewCount":2396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177119905,"gmtCreate":1627185934807,"gmtModify":1631888905548,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Will it be a good opportunity?","listText":"Will it be a good opportunity?","text":"Will it be a good opportunity?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177119905","repostId":"1151500518","repostType":4,"repost":{"id":"1151500518","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":1627092269,"share":"https://www.laohunote.com/m/news/1151500518?lang=zh_CN&edition=full","pubTime":"2021-07-24 10:04","market":"us","language":"en","title":"Tencent was ordered to remove the exclusive copyright of online music<blockquote>腾讯控股被勒令删除在线音乐的独家版权</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151500518","media":"Tiger Newspress","summary":"The China market supervision administration made an administrative punishment decision according to ","content":"<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p><p><blockquote>国家市场监督管理总局依法作出行政处罚决定，责令腾讯控股及其关联公司采取30日内取消独家音乐版权、停止支付高额预付款等版权费用、无正当理由不得要求上游版权方给予优于其竞争对手的条件等恢复市场竞争状态的措施。腾讯控股将在3年内每年向国家市场监督管理总局报告履行义务情况，国家市场监督管理总局将依法严格监督其执行情况。</blockquote></p><p> This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p><p><blockquote>本案是我国《反垄断法》实施以来，对违法实施经营者集中行为采取必要措施恢复市场竞争状态的第一起案件。</blockquote></p><p> Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</p><p><blockquote>腾讯控股回应称，公司将认真遵守决定，严格执行监管要求，依法经营，切实履行社会责任，维护市场良性竞争。腾讯控股将全面负起责任，在规定期限内会同腾讯控股音乐等关联公司制定整改措施和方案，并按照处罚决定书要求全面完成，确保整改到位。</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>Tencent was ordered to remove the exclusive copyright of online music<blockquote>腾讯控股被勒令删除在线音乐的独家版权</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent was ordered to remove the exclusive copyright of online music<blockquote>腾讯控股被勒令删除在线音乐的独家版权</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\">2021-07-24 10:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p><p><blockquote>国家市场监督管理总局依法作出行政处罚决定，责令腾讯控股及其关联公司采取30日内取消独家音乐版权、停止支付高额预付款等版权费用、无正当理由不得要求上游版权方给予优于其竞争对手的条件等恢复市场竞争状态的措施。腾讯控股将在3年内每年向国家市场监督管理总局报告履行义务情况，国家市场监督管理总局将依法严格监督其执行情况。</blockquote></p><p> This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p><p><blockquote>本案是我国《反垄断法》实施以来，对违法实施经营者集中行为采取必要措施恢复市场竞争状态的第一起案件。</blockquote></p><p> Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</p><p><blockquote>腾讯控股回应称，公司将认真遵守决定，严格执行监管要求，依法经营，切实履行社会责任，维护市场良性竞争。腾讯控股将全面负起责任，在规定期限内会同腾讯控股音乐等关联公司制定整改措施和方案，并按照处罚决定书要求全面完成，确保整改到位。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TME":"腾讯音乐","00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151500518","content_text":"The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.\nThis case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.\nTencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.","news_type":1,"symbols_score_info":{"00700":0.9,"TME":0.9}},"isVote":1,"tweetType":1,"viewCount":3502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176584589,"gmtCreate":1626908042241,"gmtModify":1631888905561,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Another ATH?","listText":"Another ATH?","text":"Another ATH?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176584589","repostId":"1107219983","repostType":4,"isVote":1,"tweetType":1,"viewCount":2550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142335572,"gmtCreate":1626131985996,"gmtModify":1631888905573,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Ath!","listText":"Ath!","text":"Ath!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142335572","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"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,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141587974,"gmtCreate":1625880665998,"gmtModify":1631888905586,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141587974","repostId":"2150370120","repostType":4,"isVote":1,"tweetType":1,"viewCount":2791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141955480,"gmtCreate":1625835748740,"gmtModify":1631888905595,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"All about making $$$","listText":"All about making $$$","text":"All about making $$$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141955480","repostId":"2150374037","repostType":4,"isVote":1,"tweetType":1,"viewCount":2512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140489724,"gmtCreate":1625668747468,"gmtModify":1631888905608,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"危机？","listText":"危机？","text":"危机？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140489724","repostId":"2149390009","repostType":4,"isVote":1,"tweetType":1,"viewCount":4276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":157346100,"gmtCreate":1625568872900,"gmtModify":1631884665575,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"China power!!!","listText":"China power!!!","text":"China power!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157346100","repostId":"1107037757","repostType":4,"repost":{"id":"1107037757","kind":"news","pubTimestamp":1625564660,"share":"https://www.laohunote.com/m/news/1107037757?lang=zh_CN&edition=full","pubTime":"2021-07-06 17:44","market":"us","language":"en","title":"Nio Expected To Gross 5% More EV Deliveries In 2021 Than Previous Forecast, Says CICC<blockquote>中金公司表示，蔚来预计 2021 年电动汽车交付量将比之前的预测增加 5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107037757","media":"Benzinga","summary":"China International Capital Corporation Limited has updated its forecast for Nio Inc, saying it expects the  Chinese electric vehicle maker to sell 98,000 cars in 2021, 5% more than its previous estimate, as per a cnEVpostreport.What Happened:The China-based investment bank estimates Nio’s production and sales to remain strong in the second half of the year.Nio delivered 21,896 units in the second quarter,near the upper end of the company's 21,000- to 22,000-unit delivery guidance, in line with ","content":"<p><div> China International Capital Corporation Limited has updated its forecast for Nio Inc(NYSE:NIO), saying it expects the  Chinese electric vehicle maker to sell 98,000 cars in 2021, 5% more than its ...</p><p><blockquote><div>中国国际金融有限公司更新了对蔚来（纽约证券交易所股票代码：NIO）的预测，称预计这家中国电动汽车制造商2021年将售出98,000辆汽车，比预期增长5%。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio Expected To Gross 5% More EV Deliveries In 2021 Than Previous Forecast, Says CICC<blockquote>中金公司表示，蔚来预计 2021 年电动汽车交付量将比之前的预测增加 5%</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\">\nNio Expected To Gross 5% More EV Deliveries In 2021 Than Previous Forecast, Says CICC<blockquote>中金公司表示，蔚来预计 2021 年电动汽车交付量将比之前的预测增加 5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-07-06 17:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> China International Capital Corporation Limited has updated its forecast for Nio Inc(NYSE:NIO), saying it expects the  Chinese electric vehicle maker to sell 98,000 cars in 2021, 5% more than its ...</p><p><blockquote><div>中国国际金融有限公司更新了对蔚来（纽约证券交易所股票代码：NIO）的预测，称预计这家中国电动汽车制造商2021年将售出98,000辆汽车，比预期增长5%。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","LI":"理想汽车"},"source_url":"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/21850578/nio-expected-to-gross-5-more-ev-deliveries-in-2021-than-previous-forecast-says-cicc","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107037757","content_text":"China International Capital Corporation Limited has updated its forecast for Nio Inc(NYSE:NIO), saying it expects the  Chinese electric vehicle maker to sell 98,000 cars in 2021, 5% more than its previous estimate, as per a cnEVpostreport.\nWhat Happened:The China-based investment bank estimates Nio’s production and sales to remain strong in the second half of the year.\nNio delivered 21,896 units in the second quarter,near the upper end of the company's 21,000- to 22,000-unit delivery guidance, in line with market expectations.\nThe investment bank also raised the sales volume forecast for rival Li Auto(NASDAQ:LI) to 90,000 units, an increase of 12.5%.\nLi Auto’s second-quarter deliveriessoared 166% to 17,575 vehicles compared with a year ago.\nPrice Action:Nio shares closed 0.98% lower at $50.40 on Friday, while Li Auto stock closed 5.8% lower at $32.67.","news_type":1,"symbols_score_info":{"NIO":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2066,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155199739,"gmtCreate":1625383806521,"gmtModify":1631888905619,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Stay cautious","listText":"Stay cautious","text":"Stay cautious","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155199739","repostId":"1197906560","repostType":4,"repost":{"id":"1197906560","kind":"news","pubTimestamp":1625285328,"share":"https://www.laohunote.com/m/news/1197906560?lang=zh_CN&edition=full","pubTime":"2021-07-03 12:08","market":"us","language":"en","title":"The Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197906560","media":"Barron's","summary":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat ","content":"<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.</p><p><blockquote>从表面上看，6 月份的就业报告看起来近乎完美。在经历了几个月的失望之后，招聘超出了华尔街的预期--工资有所上涨，但增长速度低于春季的高位。</blockquote></p><p> One might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.</p><p><blockquote>人们可能会倾向于宣布劳动力短缺已经结束，通货膨胀辩论已经结束。但投资者现在还不应该上钩。虽然非农就业人数增加了85万人，这无疑是强劲的，但这掩盖了劳动力市场仍然受到供应问题的困扰。</blockquote></p><p> First, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.</p><p><blockquote>首先，考虑一下上个月政府招聘增加了19.3万人。这就是整个标题超出经济学家预期的原因。公司就业人数增加了66.2万人，这在正常情况下是不可思议的。然而，随着经济突然开放，接种疫苗的消费者花掉了疫情期间囤积的数万亿美元现金，经济学家在复苏的这一点上预计的100万美元大关仍然相去甚远。</blockquote></p><p> What’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.</p><p><blockquote>Pantheon Macroeconomics 的伊恩-谢泼德森（Ian Shepherdson）说，更重要的是，私人就业人数远低于员工调度公司 Homebase 受到密切关注的数据所暗示的 100 万。</blockquote></p><p> Second, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.</p><p><blockquote>其次，尽管招聘情况有所改善，但 6 月份劳动力参与率持平。这一比率为61.6%，仍比大流行前的水平下降了1.7个百分点。美联储官员表示正在关注的就业与人口比率在6月份也没有变化；为 58%，仍比疫情前水平低 3.1 个百分点。</blockquote></p><p> Third, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.</p><p><blockquote>第三，工资增长放缓具有欺骗性。与 5 月份相比 0.3% 的增长看起来就像金发姑娘的指纹——足以推动持续支出，而不会加剧通胀担忧，这种担忧一直在加剧，因为从劳动力到芯片到食品的短缺推高了价格。</blockquote></p><p> “If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.</p><p><blockquote>“杰富瑞首席经济学家阿内塔-马尔科夫斯卡（Aneta Markowska）在谈到 6 月份的工资增长时说：”如果说有什么不同的话，那就是这低估了潜在工资通胀率。她说，在调整了低工资休闲、酒店和零售工人的回归后，6月份平均时薪比5月份增长了0.5%。按照这一标准，它们比去年同期增长了 4.5%。世界大型企业联合会的加德·莱瓦农 (Gad Levanon) 表示，过去三个月，随着公司追逐员工，整体工资年化上涨了 6%。</blockquote></p><p> Further highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.</p><p><blockquote>这进一步凸显了招聘仍然受到供应而非需求的阻碍：今年按年化计算，休闲和酒店业工资增长了12.3%，运输和仓储业工资增长了8%，零售工资增长了5.5%。</blockquote></p><p> So, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.</p><p><blockquote>那么，投资者如何看待 6 月份的就业报告呢？没有。也就是说，最新数据对解决劳动力市场面临的最大问题毫无帮助。</blockquote></p><p> The degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.</p><p><blockquote>过渡性因素--慷慨的失业救济金、儿童保育问题和对 Covid-19 的担忧--在多大程度上限制了招聘和推高了工资，几个月后都不会明朗。学校需要重新开放，以解决阻碍工作父母的儿童保育问题，而且在明确这些福利在多大程度上让工人留在家里之前，提高的失业救济金需要到期。</blockquote></p><p> While about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.</p><p><blockquote>虽然在联邦计划于 9 月 6 日到期之前，约有二十几个州已经开始削减或即将削减每周额外的 300 美元失业保险，但谢泼德森指出，70% 的失业者不会受到提前终止的影响。由于 6 月份的报告对美联储没有任何帮助，因此它不应该阻止股市继续前行。</blockquote></p><p> At least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.</p><p><blockquote>至少现在是这样。“谢泼德森说：”看到 85 万份工资单，你不会感到不高兴，但这还远远不够快，尤其是考虑到无数指标、求助标志和公司评论所证明的劳动力需求。“他说：”劳动力供应问题可能会自行解决，但也可能不会。“真正的问题是，我们最终可能会出现工资持续上涨”。然而，政策制定者将在获得明确数据之前搁置--而这要到 11 月才会。</blockquote></p><p> All of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.</p><p><blockquote>所有这些都意味着现在和秋天之间的数据是噪音。许多经济学家和投资者预计美联储将在下个月的年度杰克逊霍尔研讨会上宣布，计划缩减每月 1200 亿美元的资产购买规模。</blockquote></p><p> Not so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.</p><p><blockquote>谢泼德森说，没那么快。“他说：”这并不像市场希望的那样线性，杰克逊霍尔也不会明白这一点。</blockquote></p><p> If that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.</p><p><blockquote>如果这是真的--美联储要到秋季晚些时候才能及时获得他们想要的数据来制定缩减规模的计划--那么一段更长的超宽松货币政策可能正在酝酿之中。这是假设官员们在实际开始撤回支持之前就有时间传达计划。</blockquote></p><p></p><p> Therein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.</p><p><blockquote>从现在到秋季，存在着忽略噪音或就业数据的风险。如果复学和取消提高失业救济金不能让工人重返工作岗位，那么很明显，结构性问题正在发挥作用，因此工资上涨将更加持久。正如谢泼德森所说，美联储很有可能不得不在 2022 年加息，因为人们很有可能不会重返劳动力市场。</blockquote></p><p> Investors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.</p><p><blockquote>投资者应继续享受股市涨幅。但他们也应该小心。等待明确数据显示劳动力短缺是否不仅仅是暂时的，这意味着政策制定者可能不得不比看起来更快、更快地采取行动--尤其是如果未来几个月出现像 6 月份这样具有欺骗性的平衡报告的话。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-03 12:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.</p><p><blockquote>从表面上看，6 月份的就业报告看起来近乎完美。在经历了几个月的失望之后，招聘超出了华尔街的预期--工资有所上涨，但增长速度低于春季的高位。</blockquote></p><p> One might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.</p><p><blockquote>人们可能会倾向于宣布劳动力短缺已经结束，通货膨胀辩论已经结束。但投资者现在还不应该上钩。虽然非农就业人数增加了85万人，这无疑是强劲的，但这掩盖了劳动力市场仍然受到供应问题的困扰。</blockquote></p><p> First, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.</p><p><blockquote>首先，考虑一下上个月政府招聘增加了19.3万人。这就是整个标题超出经济学家预期的原因。公司就业人数增加了66.2万人，这在正常情况下是不可思议的。然而，随着经济突然开放，接种疫苗的消费者花掉了疫情期间囤积的数万亿美元现金，经济学家在复苏的这一点上预计的100万美元大关仍然相去甚远。</blockquote></p><p> What’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.</p><p><blockquote>Pantheon Macroeconomics 的伊恩-谢泼德森（Ian Shepherdson）说，更重要的是，私人就业人数远低于员工调度公司 Homebase 受到密切关注的数据所暗示的 100 万。</blockquote></p><p> Second, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.</p><p><blockquote>其次，尽管招聘情况有所改善，但 6 月份劳动力参与率持平。这一比率为61.6%，仍比大流行前的水平下降了1.7个百分点。美联储官员表示正在关注的就业与人口比率在6月份也没有变化；为 58%，仍比疫情前水平低 3.1 个百分点。</blockquote></p><p> Third, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.</p><p><blockquote>第三，工资增长放缓具有欺骗性。与 5 月份相比 0.3% 的增长看起来就像金发姑娘的指纹——足以推动持续支出，而不会加剧通胀担忧，这种担忧一直在加剧，因为从劳动力到芯片到食品的短缺推高了价格。</blockquote></p><p> “If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.</p><p><blockquote>“杰富瑞首席经济学家阿内塔-马尔科夫斯卡（Aneta Markowska）在谈到 6 月份的工资增长时说：”如果说有什么不同的话，那就是这低估了潜在工资通胀率。她说，在调整了低工资休闲、酒店和零售工人的回归后，6月份平均时薪比5月份增长了0.5%。按照这一标准，它们比去年同期增长了 4.5%。世界大型企业联合会的加德·莱瓦农 (Gad Levanon) 表示，过去三个月，随着公司追逐员工，整体工资年化上涨了 6%。</blockquote></p><p> Further highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.</p><p><blockquote>这进一步凸显了招聘仍然受到供应而非需求的阻碍：今年按年化计算，休闲和酒店业工资增长了12.3%，运输和仓储业工资增长了8%，零售工资增长了5.5%。</blockquote></p><p> So, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.</p><p><blockquote>那么，投资者如何看待 6 月份的就业报告呢？没有。也就是说，最新数据对解决劳动力市场面临的最大问题毫无帮助。</blockquote></p><p> The degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.</p><p><blockquote>过渡性因素--慷慨的失业救济金、儿童保育问题和对 Covid-19 的担忧--在多大程度上限制了招聘和推高了工资，几个月后都不会明朗。学校需要重新开放，以解决阻碍工作父母的儿童保育问题，而且在明确这些福利在多大程度上让工人留在家里之前，提高的失业救济金需要到期。</blockquote></p><p> While about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.</p><p><blockquote>虽然在联邦计划于 9 月 6 日到期之前，约有二十几个州已经开始削减或即将削减每周额外的 300 美元失业保险，但谢泼德森指出，70% 的失业者不会受到提前终止的影响。由于 6 月份的报告对美联储没有任何帮助，因此它不应该阻止股市继续前行。</blockquote></p><p> At least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.</p><p><blockquote>至少现在是这样。“谢泼德森说：”看到 85 万份工资单，你不会感到不高兴，但这还远远不够快，尤其是考虑到无数指标、求助标志和公司评论所证明的劳动力需求。“他说：”劳动力供应问题可能会自行解决，但也可能不会。“真正的问题是，我们最终可能会出现工资持续上涨”。然而，政策制定者将在获得明确数据之前搁置--而这要到 11 月才会。</blockquote></p><p> All of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.</p><p><blockquote>所有这些都意味着现在和秋天之间的数据是噪音。许多经济学家和投资者预计美联储将在下个月的年度杰克逊霍尔研讨会上宣布，计划缩减每月 1200 亿美元的资产购买规模。</blockquote></p><p> Not so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.</p><p><blockquote>谢泼德森说，没那么快。“他说：”这并不像市场希望的那样线性，杰克逊霍尔也不会明白这一点。</blockquote></p><p> If that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.</p><p><blockquote>如果这是真的--美联储要到秋季晚些时候才能及时获得他们想要的数据来制定缩减规模的计划--那么一段更长的超宽松货币政策可能正在酝酿之中。这是假设官员们在实际开始撤回支持之前就有时间传达计划。</blockquote></p><p></p><p> Therein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.</p><p><blockquote>从现在到秋季，存在着忽略噪音或就业数据的风险。如果复学和取消提高失业救济金不能让工人重返工作岗位，那么很明显，结构性问题正在发挥作用，因此工资上涨将更加持久。正如谢泼德森所说，美联储很有可能不得不在 2022 年加息，因为人们很有可能不会重返劳动力市场。</blockquote></p><p> Investors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.</p><p><blockquote>投资者应继续享受股市涨幅。但他们也应该小心。等待明确数据显示劳动力短缺是否不仅仅是暂时的，这意味着政策制定者可能不得不比看起来更快、更快地采取行动--尤其是如果未来几个月出现像 6 月份这样具有欺骗性的平衡报告的话。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197906560","content_text":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.\nOne might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.\nFirst, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.\nWhat’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.\nSecond, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.\nThird, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.\n“If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.\nFurther highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.\nSo, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.\nThe degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.\nWhile about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.\nAt least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.\nAll of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.\nNot so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.\nIf that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.\nTherein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.\nInvestors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156991906,"gmtCreate":1625189251405,"gmtModify":1631888905640,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Good demand for chips","listText":"Good demand for chips","text":"Good demand for chips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/156991906","repostId":"1161528901","repostType":4,"isVote":1,"tweetType":1,"viewCount":807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158560775,"gmtCreate":1625156433297,"gmtModify":1633944138639,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158560775","repostId":"1102868765","repostType":4,"repost":{"id":"1102868765","kind":"news","pubTimestamp":1625153533,"share":"https://www.laohunote.com/m/news/1102868765?lang=zh_CN&edition=full","pubTime":"2021-07-01 23:32","market":"us","language":"en","title":"Amazon Stock Price: How It Can Climb Up To 30%<blockquote>亚马逊股价：如何攀升至 30%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102868765","media":"TheStreet","summary":"Prime Day is over, but Amazon’s growth story continues. The Amazon Maven scans the latest Wall Street research reports and explains how some analysts see Amazon stock rising another 30%.Still, a few analysts believe that AMZN could still climb 30% from current levels. Following the important sales event on the e-commerce giant’s calendar, the Amazon Maven looks at the most recent opinions issued by Wall Street experts and assesses the bull case.At the highest level, Amazon makes money through tw","content":"<p>Prime Day is over, but Amazon’s growth story continues. The Amazon Maven scans the latest Wall Street research reports and explains how some analysts see Amazon stock rising another 30%.</p><p><blockquote>Prime Day 已经结束，但亚马逊的增长故事仍在继续。亚马逊专家浏览了最新的华尔街研究报告，并解释了一些分析师如何看待亚马逊股价再上涨30%。</blockquote></p><p> Prime Day,Amazon’s “summer Black Friday”, has come and gone. Wall Street did not seem overlyconfidentthat this year’s event will be a game changer for Amazon stock, which may explain why share price has remained stuck trading around $3,450 since mid-June.</p><p><blockquote>亚马逊的 “夏季黑色星期五 ”Prime Day 来来去去。华尔街似乎并不过于自信，认为今年的活动将改变亚马逊股票的游戏规则，这或许可以解释为什么自 6 月中旬以来，亚马逊股价一直停留在 3450 美元左右。</blockquote></p><p> Still, a few analysts believe that AMZN could still climb 30% from current levels. Following the important sales event on the e-commerce giant’s calendar, the Amazon Maven looks at the most recent opinions issued by Wall Street experts and assesses the bull case.</p><p><blockquote>尽管如此，一些分析师认为 AMZN 仍可能较当前水平上涨 30%。在这家电子商务巨头日历上的重要销售事件之后，《亚马逊专家》将关注华尔街专家发布的最新意见，并评估牛市情况。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da2e16a19c3807906131ed6e06652087\" tg-width=\"1240\" tg-height=\"698\"><span>Figure 1: Amazon's logo.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：亚马逊的标志。</span></p></blockquote></p><p> <b>Strength in e-commerce and cloud</b></p><p><blockquote><b>电子商务和云实力</b></blockquote></p><p> At the highest level, Amazon makes money through two distinct businesses: e-commerce and cloud. Good news for the Seattle-based company and its shareholders, these industries have been growing fast lately – and Amazon enjoys an enviable position of market leadership in both.</p><p><blockquote>在最高层面，亚马逊通过两个截然不同的业务赚钱：电子商务和云。对于这家总部位于西雅图的公司及其股东来说，这是个好消息，这些行业最近发展迅速——亚马逊在这两个领域都享有令人羡慕的市场领导地位。</blockquote></p><p> Bank of America, whose analyst believes that Amazon stock can rise 27% from here,seems to know at least one key ingredient&nbsp;to Amazon’s success on the e-commerce side: its delivery system. Justin Post thinks that Amazon will grow its fulfillment footprint by 40% this year alone, the equivalent of Walmart’s entire distribution center space.</p><p><blockquote>美国银行（Bank of America）的分析师认为，亚马逊的股价可能会从此上涨 27%，该银行似乎至少知道亚马逊在电子商务方面取得成功的一个关键因素：其配送系统。贾斯汀-波斯特（Justin Post）认为，仅今年一年，亚马逊的履行足迹就将增长 40%，相当于沃尔玛的整个配送中心空间。</blockquote></p><p> Mr. Post’s research aligns with the findings of Jefferies’ Brent Till, who has a $4,200 price target on AMZN.According&nbsp;to him, Amazon’s fulfilment capacity should rise about 50% in the next one to two years. The expanded infrastructure could allow Amazon to move to breakeven same-day delivery, and to compete better by bringing last-mile delivery in-house.</p><p><blockquote>波斯特先生的研究与杰富瑞（Jefferies）的布伦特-蒂尔（Brent Till）的研究结果一致，后者对亚马逊的目标价为 4200 美元。扩展的基础设施可以让亚马逊实现当天送达的盈亏平衡，并通过在内部引入最后一英里送达来更好地竞争。</blockquote></p><p> The improved distribution system may help Amazon with another of its businesses that could use a boost: groceries. Loop Capitalreportsthat over 50% of Prime subscribers order groceries online, of which three-fourths use either Amazon or Whole Foods (an Amazon subsidiary) only. Some of the perceived issues with fresh produce availability could be addressed with a better delivery network.</p><p><blockquote>改进后的分销系统可能会帮助亚马逊开展另一项需要提振的业务：杂货。Loop Capital 报告称，超过 50% 的 Prime 订阅者在线订购杂货，其中四分之三只使用亚马逊或全食超市（亚马逊子公司）。新鲜农产品供应方面的一些问题可以通过更好的交付网络来解决。</blockquote></p><p> On the other hand, cloud has not been a hot topic of conversation among analysts lately. But&nbsp;the Amazon Maven recently pointed out&nbsp;how the cloud infrastructure space (IaaS) grew at a dizzying 41% pace in 2020 – and Amazon remains the undisputed king of cloud, controlling 40% of the IaaS market.</p><p><blockquote>另一方面，云最近并不是分析师热议的话题。但亚马逊专家最近指出，云基础设施领域（IaaS）在2020年以令人眼花缭乱的41%的速度增长——亚马逊仍然是无可争议的云之王，控制着40%的IaaS市场。</blockquote></p><p> <b>Not stellar, not terrible either</b></p><p><blockquote><b>不算出色，也不算糟糕</b></blockquote></p><p> Lastly, and despite Amazon’s Prime Day 2021 not being a center-stage argument in most analysts’ investment theses, one bull still sees reasons to be excited. Evercore ISI has a $4,500 price target on AMZN, suggesting 30% upside from end-of-June share price.</p><p><blockquote>最后，尽管亚马逊 2021 年 Prime Day 并不是大多数分析师投资论点的中心论点，但多头仍然认为有理由感到兴奋。Evercore ISI 将 AMZN 的目标价定为 4,500 美元，较 6 月底股价上涨 30%。</blockquote></p><p> The research shop noted that Amazon sold more than 250 million items on Prime Day, which represents a compounded annual increase of more than 20% over 2019. Considering that a pandemic and a flash recession took place within these past 24 months, Prime Day unit sales growth did not look bad at all.</p><p><blockquote>该研究商店指出，亚马逊在 Prime Day 上售出了超过 2.5 亿件商品，比 2019 年复合年增长率超过 20%。考虑到过去 24 个月内发生了疫情和快速衰退，Prime Day 单位销售增长看起来一点也不差。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Stock Price: How It Can Climb Up To 30%<blockquote>亚马逊股价：如何攀升至 30%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Stock Price: How It Can Climb Up To 30%<blockquote>亚马逊股价：如何攀升至 30%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-07-01 23:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Prime Day is over, but Amazon’s growth story continues. The Amazon Maven scans the latest Wall Street research reports and explains how some analysts see Amazon stock rising another 30%.</p><p><blockquote>Prime Day 已经结束，但亚马逊的增长故事仍在继续。亚马逊专家浏览了最新的华尔街研究报告，并解释了一些分析师如何看待亚马逊股价再上涨30%。</blockquote></p><p> Prime Day,Amazon’s “summer Black Friday”, has come and gone. Wall Street did not seem overlyconfidentthat this year’s event will be a game changer for Amazon stock, which may explain why share price has remained stuck trading around $3,450 since mid-June.</p><p><blockquote>亚马逊的 “夏季黑色星期五 ”Prime Day 来来去去。华尔街似乎并不过于自信，认为今年的活动将改变亚马逊股票的游戏规则，这或许可以解释为什么自 6 月中旬以来，亚马逊股价一直停留在 3450 美元左右。</blockquote></p><p> Still, a few analysts believe that AMZN could still climb 30% from current levels. Following the important sales event on the e-commerce giant’s calendar, the Amazon Maven looks at the most recent opinions issued by Wall Street experts and assesses the bull case.</p><p><blockquote>尽管如此，一些分析师认为 AMZN 仍可能较当前水平上涨 30%。在这家电子商务巨头日历上的重要销售事件之后，《亚马逊专家》将关注华尔街专家发布的最新意见，并评估牛市情况。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da2e16a19c3807906131ed6e06652087\" tg-width=\"1240\" tg-height=\"698\"><span>Figure 1: Amazon's logo.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：亚马逊的标志。</span></p></blockquote></p><p> <b>Strength in e-commerce and cloud</b></p><p><blockquote><b>电子商务和云实力</b></blockquote></p><p> At the highest level, Amazon makes money through two distinct businesses: e-commerce and cloud. Good news for the Seattle-based company and its shareholders, these industries have been growing fast lately – and Amazon enjoys an enviable position of market leadership in both.</p><p><blockquote>在最高层面，亚马逊通过两个截然不同的业务赚钱：电子商务和云。对于这家总部位于西雅图的公司及其股东来说，这是个好消息，这些行业最近发展迅速——亚马逊在这两个领域都享有令人羡慕的市场领导地位。</blockquote></p><p> Bank of America, whose analyst believes that Amazon stock can rise 27% from here,seems to know at least one key ingredient&nbsp;to Amazon’s success on the e-commerce side: its delivery system. Justin Post thinks that Amazon will grow its fulfillment footprint by 40% this year alone, the equivalent of Walmart’s entire distribution center space.</p><p><blockquote>美国银行（Bank of America）的分析师认为，亚马逊的股价可能会从此上涨 27%，该银行似乎至少知道亚马逊在电子商务方面取得成功的一个关键因素：其配送系统。贾斯汀-波斯特（Justin Post）认为，仅今年一年，亚马逊的履行足迹就将增长 40%，相当于沃尔玛的整个配送中心空间。</blockquote></p><p> Mr. Post’s research aligns with the findings of Jefferies’ Brent Till, who has a $4,200 price target on AMZN.According&nbsp;to him, Amazon’s fulfilment capacity should rise about 50% in the next one to two years. The expanded infrastructure could allow Amazon to move to breakeven same-day delivery, and to compete better by bringing last-mile delivery in-house.</p><p><blockquote>波斯特先生的研究与杰富瑞（Jefferies）的布伦特-蒂尔（Brent Till）的研究结果一致，后者对亚马逊的目标价为 4200 美元。扩展的基础设施可以让亚马逊实现当天送达的盈亏平衡，并通过在内部引入最后一英里送达来更好地竞争。</blockquote></p><p> The improved distribution system may help Amazon with another of its businesses that could use a boost: groceries. Loop Capitalreportsthat over 50% of Prime subscribers order groceries online, of which three-fourths use either Amazon or Whole Foods (an Amazon subsidiary) only. Some of the perceived issues with fresh produce availability could be addressed with a better delivery network.</p><p><blockquote>改进后的分销系统可能会帮助亚马逊开展另一项需要提振的业务：杂货。Loop Capital 报告称，超过 50% 的 Prime 订阅者在线订购杂货，其中四分之三只使用亚马逊或全食超市（亚马逊子公司）。新鲜农产品供应方面的一些问题可以通过更好的交付网络来解决。</blockquote></p><p> On the other hand, cloud has not been a hot topic of conversation among analysts lately. But&nbsp;the Amazon Maven recently pointed out&nbsp;how the cloud infrastructure space (IaaS) grew at a dizzying 41% pace in 2020 – and Amazon remains the undisputed king of cloud, controlling 40% of the IaaS market.</p><p><blockquote>另一方面，云最近并不是分析师热议的话题。但亚马逊专家最近指出，云基础设施领域（IaaS）在2020年以令人眼花缭乱的41%的速度增长——亚马逊仍然是无可争议的云之王，控制着40%的IaaS市场。</blockquote></p><p> <b>Not stellar, not terrible either</b></p><p><blockquote><b>不算出色，也不算糟糕</b></blockquote></p><p> Lastly, and despite Amazon’s Prime Day 2021 not being a center-stage argument in most analysts’ investment theses, one bull still sees reasons to be excited. Evercore ISI has a $4,500 price target on AMZN, suggesting 30% upside from end-of-June share price.</p><p><blockquote>最后，尽管亚马逊 2021 年 Prime Day 并不是大多数分析师投资论点的中心论点，但多头仍然认为有理由感到兴奋。Evercore ISI 将 AMZN 的目标价定为 4,500 美元，较 6 月底股价上涨 30%。</blockquote></p><p> The research shop noted that Amazon sold more than 250 million items on Prime Day, which represents a compounded annual increase of more than 20% over 2019. Considering that a pandemic and a flash recession took place within these past 24 months, Prime Day unit sales growth did not look bad at all.</p><p><blockquote>该研究商店指出，亚马逊在 Prime Day 上售出了超过 2.5 亿件商品，比 2019 年复合年增长率超过 20%。考虑到过去 24 个月内发生了疫情和快速衰退，Prime Day 单位销售增长看起来一点也不差。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/amazon/stock/amazon-stock-price-how-it-can-climb-up-to-30\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.thestreet.com/amazon/stock/amazon-stock-price-how-it-can-climb-up-to-30","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102868765","content_text":"Prime Day is over, but Amazon’s growth story continues. The Amazon Maven scans the latest Wall Street research reports and explains how some analysts see Amazon stock rising another 30%.\nPrime Day,Amazon’s “summer Black Friday”, has come and gone. Wall Street did not seem overlyconfidentthat this year’s event will be a game changer for Amazon stock, which may explain why share price has remained stuck trading around $3,450 since mid-June.\nStill, a few analysts believe that AMZN could still climb 30% from current levels. Following the important sales event on the e-commerce giant’s calendar, the Amazon Maven looks at the most recent opinions issued by Wall Street experts and assesses the bull case.\nFigure 1: Amazon's logo.\nStrength in e-commerce and cloud\nAt the highest level, Amazon makes money through two distinct businesses: e-commerce and cloud. Good news for the Seattle-based company and its shareholders, these industries have been growing fast lately – and Amazon enjoys an enviable position of market leadership in both.\nBank of America, whose analyst believes that Amazon stock can rise 27% from here,seems to know at least one key ingredient to Amazon’s success on the e-commerce side: its delivery system. Justin Post thinks that Amazon will grow its fulfillment footprint by 40% this year alone, the equivalent of Walmart’s entire distribution center space.\nMr. Post’s research aligns with the findings of Jefferies’ Brent Till, who has a $4,200 price target on AMZN.According to him, Amazon’s fulfilment capacity should rise about 50% in the next one to two years. The expanded infrastructure could allow Amazon to move to breakeven same-day delivery, and to compete better by bringing last-mile delivery in-house.\nThe improved distribution system may help Amazon with another of its businesses that could use a boost: groceries. Loop Capitalreportsthat over 50% of Prime subscribers order groceries online, of which three-fourths use either Amazon or Whole Foods (an Amazon subsidiary) only. Some of the perceived issues with fresh produce availability could be addressed with a better delivery network.\nOn the other hand, cloud has not been a hot topic of conversation among analysts lately. But the Amazon Maven recently pointed out how the cloud infrastructure space (IaaS) grew at a dizzying 41% pace in 2020 – and Amazon remains the undisputed king of cloud, controlling 40% of the IaaS market.\nNot stellar, not terrible either\nLastly, and despite Amazon’s Prime Day 2021 not being a center-stage argument in most analysts’ investment theses, one bull still sees reasons to be excited. Evercore ISI has a $4,500 price target on AMZN, suggesting 30% upside from end-of-June share price.\nThe research shop noted that Amazon sold more than 250 million items on Prime Day, which represents a compounded annual increase of more than 20% over 2019. Considering that a pandemic and a flash recession took place within these past 24 months, Prime Day unit sales growth did not look bad at all.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124615820,"gmtCreate":1624762006260,"gmtModify":1633948950574,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Nice recommendation","listText":"Nice recommendation","text":"Nice recommendation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124615820","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":1025,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125235934,"gmtCreate":1624674391328,"gmtModify":1633949748266,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Missed the boat","listText":"Missed the boat","text":"Missed the boat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125235934","repostId":"1100072036","repostType":4,"isVote":1,"tweetType":1,"viewCount":810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120715058,"gmtCreate":1624337289774,"gmtModify":1634007569025,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Interesting move. Good in free marketing","listText":"Interesting move. Good in free marketing","text":"Interesting move. Good in free marketing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/120715058","repostId":"2145037589","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165547076,"gmtCreate":1624153474095,"gmtModify":1634010247590,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"What can we do?","listText":"What can we do?","text":"What can we do?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/165547076","repostId":"1133385197","repostType":4,"isVote":1,"tweetType":1,"viewCount":894,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162341882,"gmtCreate":1624036639946,"gmtModify":1634023686635,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Ok. Fight on!","listText":"Ok. Fight on!","text":"Ok. Fight on!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162341882","repostId":"1103331073","repostType":4,"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168141748,"gmtCreate":1623968434784,"gmtModify":1634025208209,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Interesting move","listText":"Interesting move","text":"Interesting move","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168141748","repostId":"1108846547","repostType":4,"isVote":1,"tweetType":1,"viewCount":762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161375514,"gmtCreate":1623907896938,"gmtModify":1634025998524,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Thanks for the list","listText":"Thanks for the list","text":"Thanks for the list","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161375514","repostId":"2143379379","repostType":4,"isVote":1,"tweetType":1,"viewCount":878,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187514587,"gmtCreate":1623758769049,"gmtModify":1634028882521,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Scary.. bottomless pit like sia","listText":"Scary.. bottomless pit like sia","text":"Scary.. bottomless pit like sia","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/187514587","repostId":"1129954811","repostType":4,"repost":{"id":"1129954811","kind":"news","pubTimestamp":1623757841,"share":"https://www.laohunote.com/m/news/1129954811?lang=zh_CN&edition=full","pubTime":"2021-06-15 19:50","market":"us","language":"en","title":"Royal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129954811","media":"MarketWatch","summary":"Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million o","content":"<p>Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. </p><p><blockquote>皇家加勒比集团 RCL（-2.38%）周二表示，已开始私募 6.5 亿美元的五年期高收益债券。</blockquote></p><p> Proceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. </p><p><blockquote>邮轮运营商在一份声明中表示，此次交易的收益将用于赎回银海邮轮金融有限公司发行的约6.198亿美元的7.25%票据，这些票据将于2025年到期。剩余资金将用于一般公司用途。</blockquote></p><p> Shares were up 0.51% premarket and have gained 18% in the year to date, while the S&amp;P 500 SPX, +0.18% has gained 13%.</p><p><blockquote>该股盘前上涨 0.51%，今年迄今已上涨 18%，而标普500 SPX 指数上涨 0.18%，上涨 13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e7be375c5b14bd0e88066699dea19c74\" tg-width=\"663\" tg-height=\"440\"></p><p><blockquote></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>Royal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</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\">\nRoyal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-15 19:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. </p><p><blockquote>皇家加勒比集团 RCL（-2.38%）周二表示，已开始私募 6.5 亿美元的五年期高收益债券。</blockquote></p><p> Proceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. </p><p><blockquote>邮轮运营商在一份声明中表示，此次交易的收益将用于赎回银海邮轮金融有限公司发行的约6.198亿美元的7.25%票据，这些票据将于2025年到期。剩余资金将用于一般公司用途。</blockquote></p><p> Shares were up 0.51% premarket and have gained 18% in the year to date, while the S&amp;P 500 SPX, +0.18% has gained 13%.</p><p><blockquote>该股盘前上涨 0.51%，今年迄今已上涨 18%，而标普500 SPX 指数上涨 0.18%，上涨 13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e7be375c5b14bd0e88066699dea19c74\" tg-width=\"663\" tg-height=\"440\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/royal-caribbean-is-issuing-650-million-of-five-year-junk-bonds-2021-06-15?siteid=rss&utm_campaign=Feed%3A+marketwatch%2Fmarketpulse+%28MarketWatch.com+-+MarketPulse%29&utm_medium=feed&utm_source=feedburner\">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":{"RCL":"皇家加勒比邮轮"},"source_url":"https://www.marketwatch.com/story/royal-caribbean-is-issuing-650-million-of-five-year-junk-bonds-2021-06-15?siteid=rss&utm_campaign=Feed%3A+marketwatch%2Fmarketpulse+%28MarketWatch.com+-+MarketPulse%29&utm_medium=feed&utm_source=feedburner","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1129954811","content_text":"Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. \nProceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. \nShares were up 0.51% premarket and have gained 18% in the year to date, while the S&P 500 SPX, +0.18% has gained 13%.","news_type":1,"symbols_score_info":{"RCL":0.9}},"isVote":1,"tweetType":1,"viewCount":756,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":156991906,"gmtCreate":1625189251405,"gmtModify":1631888905640,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Good demand for chips","listText":"Good demand for chips","text":"Good demand for chips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/156991906","repostId":"1161528901","repostType":4,"isVote":1,"tweetType":1,"viewCount":807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177793227,"gmtCreate":1627260608169,"gmtModify":1631888905536,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Could be good to accumulate. NFA","listText":"Could be good to accumulate. NFA","text":"Could be good to accumulate. NFA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177793227","repostId":"1167624311","repostType":4,"isVote":1,"tweetType":1,"viewCount":2396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124615820,"gmtCreate":1624762006260,"gmtModify":1633948950574,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Nice recommendation","listText":"Nice recommendation","text":"Nice recommendation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124615820","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":1025,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165547076,"gmtCreate":1624153474095,"gmtModify":1634010247590,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"What can we do?","listText":"What can we do?","text":"What can we do?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/165547076","repostId":"1133385197","repostType":4,"isVote":1,"tweetType":1,"viewCount":894,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374340716,"gmtCreate":1619423649835,"gmtModify":1634273606442,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Nice summary","listText":"Nice summary","text":"Nice summary","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/374340716","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176584589,"gmtCreate":1626908042241,"gmtModify":1631888905561,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Another ATH?","listText":"Another ATH?","text":"Another ATH?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176584589","repostId":"1107219983","repostType":4,"isVote":1,"tweetType":1,"viewCount":2550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192008808,"gmtCreate":1621127554504,"gmtModify":1634193936627,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"They know when to exit","listText":"They know when to exit","text":"They know when to exit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/192008808","repostId":"1181700327","repostType":4,"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142335572,"gmtCreate":1626131985996,"gmtModify":1631888905573,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Ath!","listText":"Ath!","text":"Ath!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142335572","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"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,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187514587,"gmtCreate":1623758769049,"gmtModify":1634028882521,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Scary.. bottomless pit like sia","listText":"Scary.. bottomless pit like sia","text":"Scary.. bottomless pit like sia","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/187514587","repostId":"1129954811","repostType":4,"repost":{"id":"1129954811","kind":"news","pubTimestamp":1623757841,"share":"https://www.laohunote.com/m/news/1129954811?lang=zh_CN&edition=full","pubTime":"2021-06-15 19:50","market":"us","language":"en","title":"Royal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129954811","media":"MarketWatch","summary":"Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million o","content":"<p>Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. </p><p><blockquote>皇家加勒比集团 RCL（-2.38%）周二表示，已开始私募 6.5 亿美元的五年期高收益债券。</blockquote></p><p> Proceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. </p><p><blockquote>邮轮运营商在一份声明中表示，此次交易的收益将用于赎回银海邮轮金融有限公司发行的约6.198亿美元的7.25%票据，这些票据将于2025年到期。剩余资金将用于一般公司用途。</blockquote></p><p> Shares were up 0.51% premarket and have gained 18% in the year to date, while the S&amp;P 500 SPX, +0.18% has gained 13%.</p><p><blockquote>该股盘前上涨 0.51%，今年迄今已上涨 18%，而标普500 SPX 指数上涨 0.18%，上涨 13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e7be375c5b14bd0e88066699dea19c74\" tg-width=\"663\" tg-height=\"440\"></p><p><blockquote></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>Royal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</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\">\nRoyal Caribbean is issuing $650 million of five-year junk bonds<blockquote>皇家加勒比将发行 6.5 亿美元五年期垃圾债券</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-15 19:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. </p><p><blockquote>皇家加勒比集团 RCL（-2.38%）周二表示，已开始私募 6.5 亿美元的五年期高收益债券。</blockquote></p><p> Proceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. </p><p><blockquote>邮轮运营商在一份声明中表示，此次交易的收益将用于赎回银海邮轮金融有限公司发行的约6.198亿美元的7.25%票据，这些票据将于2025年到期。剩余资金将用于一般公司用途。</blockquote></p><p> Shares were up 0.51% premarket and have gained 18% in the year to date, while the S&amp;P 500 SPX, +0.18% has gained 13%.</p><p><blockquote>该股盘前上涨 0.51%，今年迄今已上涨 18%，而标普500 SPX 指数上涨 0.18%，上涨 13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e7be375c5b14bd0e88066699dea19c74\" tg-width=\"663\" tg-height=\"440\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/royal-caribbean-is-issuing-650-million-of-five-year-junk-bonds-2021-06-15?siteid=rss&utm_campaign=Feed%3A+marketwatch%2Fmarketpulse+%28MarketWatch.com+-+MarketPulse%29&utm_medium=feed&utm_source=feedburner\">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":{"RCL":"皇家加勒比邮轮"},"source_url":"https://www.marketwatch.com/story/royal-caribbean-is-issuing-650-million-of-five-year-junk-bonds-2021-06-15?siteid=rss&utm_campaign=Feed%3A+marketwatch%2Fmarketpulse+%28MarketWatch.com+-+MarketPulse%29&utm_medium=feed&utm_source=feedburner","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1129954811","content_text":"Royal Caribbean Group RCL, -2.38% said Tuesday it has commenced a private offering of $650 million of five-year, high-yield bonds. \nProceeds of the deal will be used to fund the redemption of about $619.8 million of 7.25% notes that mature in 2025 that were issued by Silversea Cruise Finance Ltd., the cruise operator said in a statement. The remaining funds will be used for general corporate purposes. \nShares were up 0.51% premarket and have gained 18% in the year to date, while the S&P 500 SPX, +0.18% has gained 13%.","news_type":1,"symbols_score_info":{"RCL":0.9}},"isVote":1,"tweetType":1,"viewCount":756,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155199739,"gmtCreate":1625383806521,"gmtModify":1631888905619,"author":{"id":"3581588311288634","authorId":"3581588311288634","name":"brandonwcj","avatar":"https://static.tigerbbs.com/a122e339b72dc656fb1dd02ceab78968","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581588311288634","authorIdStr":"3581588311288634"},"themes":[],"title":"","htmlText":"Stay cautious","listText":"Stay cautious","text":"Stay cautious","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155199739","repostId":"1197906560","repostType":4,"repost":{"id":"1197906560","kind":"news","pubTimestamp":1625285328,"share":"https://www.laohunote.com/m/news/1197906560?lang=zh_CN&edition=full","pubTime":"2021-07-03 12:08","market":"us","language":"en","title":"The Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197906560","media":"Barron's","summary":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat ","content":"<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.</p><p><blockquote>从表面上看，6 月份的就业报告看起来近乎完美。在经历了几个月的失望之后，招聘超出了华尔街的预期--工资有所上涨，但增长速度低于春季的高位。</blockquote></p><p> One might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.</p><p><blockquote>人们可能会倾向于宣布劳动力短缺已经结束，通货膨胀辩论已经结束。但投资者现在还不应该上钩。虽然非农就业人数增加了85万人，这无疑是强劲的，但这掩盖了劳动力市场仍然受到供应问题的困扰。</blockquote></p><p> First, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.</p><p><blockquote>首先，考虑一下上个月政府招聘增加了19.3万人。这就是整个标题超出经济学家预期的原因。公司就业人数增加了66.2万人，这在正常情况下是不可思议的。然而，随着经济突然开放，接种疫苗的消费者花掉了疫情期间囤积的数万亿美元现金，经济学家在复苏的这一点上预计的100万美元大关仍然相去甚远。</blockquote></p><p> What’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.</p><p><blockquote>Pantheon Macroeconomics 的伊恩-谢泼德森（Ian Shepherdson）说，更重要的是，私人就业人数远低于员工调度公司 Homebase 受到密切关注的数据所暗示的 100 万。</blockquote></p><p> Second, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.</p><p><blockquote>其次，尽管招聘情况有所改善，但 6 月份劳动力参与率持平。这一比率为61.6%，仍比大流行前的水平下降了1.7个百分点。美联储官员表示正在关注的就业与人口比率在6月份也没有变化；为 58%，仍比疫情前水平低 3.1 个百分点。</blockquote></p><p> Third, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.</p><p><blockquote>第三，工资增长放缓具有欺骗性。与 5 月份相比 0.3% 的增长看起来就像金发姑娘的指纹——足以推动持续支出，而不会加剧通胀担忧，这种担忧一直在加剧，因为从劳动力到芯片到食品的短缺推高了价格。</blockquote></p><p> “If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.</p><p><blockquote>“杰富瑞首席经济学家阿内塔-马尔科夫斯卡（Aneta Markowska）在谈到 6 月份的工资增长时说：”如果说有什么不同的话，那就是这低估了潜在工资通胀率。她说，在调整了低工资休闲、酒店和零售工人的回归后，6月份平均时薪比5月份增长了0.5%。按照这一标准，它们比去年同期增长了 4.5%。世界大型企业联合会的加德·莱瓦农 (Gad Levanon) 表示，过去三个月，随着公司追逐员工，整体工资年化上涨了 6%。</blockquote></p><p> Further highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.</p><p><blockquote>这进一步凸显了招聘仍然受到供应而非需求的阻碍：今年按年化计算，休闲和酒店业工资增长了12.3%，运输和仓储业工资增长了8%，零售工资增长了5.5%。</blockquote></p><p> So, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.</p><p><blockquote>那么，投资者如何看待 6 月份的就业报告呢？没有。也就是说，最新数据对解决劳动力市场面临的最大问题毫无帮助。</blockquote></p><p> The degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.</p><p><blockquote>过渡性因素--慷慨的失业救济金、儿童保育问题和对 Covid-19 的担忧--在多大程度上限制了招聘和推高了工资，几个月后都不会明朗。学校需要重新开放，以解决阻碍工作父母的儿童保育问题，而且在明确这些福利在多大程度上让工人留在家里之前，提高的失业救济金需要到期。</blockquote></p><p> While about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.</p><p><blockquote>虽然在联邦计划于 9 月 6 日到期之前，约有二十几个州已经开始削减或即将削减每周额外的 300 美元失业保险，但谢泼德森指出，70% 的失业者不会受到提前终止的影响。由于 6 月份的报告对美联储没有任何帮助，因此它不应该阻止股市继续前行。</blockquote></p><p> At least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.</p><p><blockquote>至少现在是这样。“谢泼德森说：”看到 85 万份工资单，你不会感到不高兴，但这还远远不够快，尤其是考虑到无数指标、求助标志和公司评论所证明的劳动力需求。“他说：”劳动力供应问题可能会自行解决，但也可能不会。“真正的问题是，我们最终可能会出现工资持续上涨”。然而，政策制定者将在获得明确数据之前搁置--而这要到 11 月才会。</blockquote></p><p> All of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.</p><p><blockquote>所有这些都意味着现在和秋天之间的数据是噪音。许多经济学家和投资者预计美联储将在下个月的年度杰克逊霍尔研讨会上宣布，计划缩减每月 1200 亿美元的资产购买规模。</blockquote></p><p> Not so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.</p><p><blockquote>谢泼德森说，没那么快。“他说：”这并不像市场希望的那样线性，杰克逊霍尔也不会明白这一点。</blockquote></p><p> If that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.</p><p><blockquote>如果这是真的--美联储要到秋季晚些时候才能及时获得他们想要的数据来制定缩减规模的计划--那么一段更长的超宽松货币政策可能正在酝酿之中。这是假设官员们在实际开始撤回支持之前就有时间传达计划。</blockquote></p><p></p><p> Therein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.</p><p><blockquote>从现在到秋季，存在着忽略噪音或就业数据的风险。如果复学和取消提高失业救济金不能让工人重返工作岗位，那么很明显，结构性问题正在发挥作用，因此工资上涨将更加持久。正如谢泼德森所说，美联储很有可能不得不在 2022 年加息，因为人们很有可能不会重返劳动力市场。</blockquote></p><p> Investors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.</p><p><blockquote>投资者应继续享受股市涨幅。但他们也应该小心。等待明确数据显示劳动力短缺是否不仅仅是暂时的，这意味着政策制定者可能不得不比看起来更快、更快地采取行动--尤其是如果未来几个月出现像 6 月份这样具有欺骗性的平衡报告的话。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Jobs Report Was Strong. Why Investors Should Be Skeptical.<blockquote>就业报告强劲。为什么投资者应该持怀疑态度。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-03 12:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.</p><p><blockquote>从表面上看，6 月份的就业报告看起来近乎完美。在经历了几个月的失望之后，招聘超出了华尔街的预期--工资有所上涨，但增长速度低于春季的高位。</blockquote></p><p> One might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.</p><p><blockquote>人们可能会倾向于宣布劳动力短缺已经结束，通货膨胀辩论已经结束。但投资者现在还不应该上钩。虽然非农就业人数增加了85万人，这无疑是强劲的，但这掩盖了劳动力市场仍然受到供应问题的困扰。</blockquote></p><p> First, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.</p><p><blockquote>首先，考虑一下上个月政府招聘增加了19.3万人。这就是整个标题超出经济学家预期的原因。公司就业人数增加了66.2万人，这在正常情况下是不可思议的。然而，随着经济突然开放，接种疫苗的消费者花掉了疫情期间囤积的数万亿美元现金，经济学家在复苏的这一点上预计的100万美元大关仍然相去甚远。</blockquote></p><p> What’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.</p><p><blockquote>Pantheon Macroeconomics 的伊恩-谢泼德森（Ian Shepherdson）说，更重要的是，私人就业人数远低于员工调度公司 Homebase 受到密切关注的数据所暗示的 100 万。</blockquote></p><p> Second, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.</p><p><blockquote>其次，尽管招聘情况有所改善，但 6 月份劳动力参与率持平。这一比率为61.6%，仍比大流行前的水平下降了1.7个百分点。美联储官员表示正在关注的就业与人口比率在6月份也没有变化；为 58%，仍比疫情前水平低 3.1 个百分点。</blockquote></p><p> Third, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.</p><p><blockquote>第三，工资增长放缓具有欺骗性。与 5 月份相比 0.3% 的增长看起来就像金发姑娘的指纹——足以推动持续支出，而不会加剧通胀担忧，这种担忧一直在加剧，因为从劳动力到芯片到食品的短缺推高了价格。</blockquote></p><p> “If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.</p><p><blockquote>“杰富瑞首席经济学家阿内塔-马尔科夫斯卡（Aneta Markowska）在谈到 6 月份的工资增长时说：”如果说有什么不同的话，那就是这低估了潜在工资通胀率。她说，在调整了低工资休闲、酒店和零售工人的回归后，6月份平均时薪比5月份增长了0.5%。按照这一标准，它们比去年同期增长了 4.5%。世界大型企业联合会的加德·莱瓦农 (Gad Levanon) 表示，过去三个月，随着公司追逐员工，整体工资年化上涨了 6%。</blockquote></p><p> Further highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.</p><p><blockquote>这进一步凸显了招聘仍然受到供应而非需求的阻碍：今年按年化计算，休闲和酒店业工资增长了12.3%，运输和仓储业工资增长了8%，零售工资增长了5.5%。</blockquote></p><p> So, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.</p><p><blockquote>那么，投资者如何看待 6 月份的就业报告呢？没有。也就是说，最新数据对解决劳动力市场面临的最大问题毫无帮助。</blockquote></p><p> The degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.</p><p><blockquote>过渡性因素--慷慨的失业救济金、儿童保育问题和对 Covid-19 的担忧--在多大程度上限制了招聘和推高了工资，几个月后都不会明朗。学校需要重新开放，以解决阻碍工作父母的儿童保育问题，而且在明确这些福利在多大程度上让工人留在家里之前，提高的失业救济金需要到期。</blockquote></p><p> While about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.</p><p><blockquote>虽然在联邦计划于 9 月 6 日到期之前，约有二十几个州已经开始削减或即将削减每周额外的 300 美元失业保险，但谢泼德森指出，70% 的失业者不会受到提前终止的影响。由于 6 月份的报告对美联储没有任何帮助，因此它不应该阻止股市继续前行。</blockquote></p><p> At least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.</p><p><blockquote>至少现在是这样。“谢泼德森说：”看到 85 万份工资单，你不会感到不高兴，但这还远远不够快，尤其是考虑到无数指标、求助标志和公司评论所证明的劳动力需求。“他说：”劳动力供应问题可能会自行解决，但也可能不会。“真正的问题是，我们最终可能会出现工资持续上涨”。然而，政策制定者将在获得明确数据之前搁置--而这要到 11 月才会。</blockquote></p><p> All of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.</p><p><blockquote>所有这些都意味着现在和秋天之间的数据是噪音。许多经济学家和投资者预计美联储将在下个月的年度杰克逊霍尔研讨会上宣布，计划缩减每月 1200 亿美元的资产购买规模。</blockquote></p><p> Not so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.</p><p><blockquote>谢泼德森说，没那么快。“他说：”这并不像市场希望的那样线性，杰克逊霍尔也不会明白这一点。</blockquote></p><p> If that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.</p><p><blockquote>如果这是真的--美联储要到秋季晚些时候才能及时获得他们想要的数据来制定缩减规模的计划--那么一段更长的超宽松货币政策可能正在酝酿之中。这是假设官员们在实际开始撤回支持之前就有时间传达计划。</blockquote></p><p></p><p> Therein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.</p><p><blockquote>从现在到秋季，存在着忽略噪音或就业数据的风险。如果复学和取消提高失业救济金不能让工人重返工作岗位，那么很明显，结构性问题正在发挥作用，因此工资上涨将更加持久。正如谢泼德森所说，美联储很有可能不得不在 2022 年加息，因为人们很有可能不会重返劳动力市场。</blockquote></p><p> Investors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.</p><p><blockquote>投资者应继续享受股市涨幅。但他们也应该小心。等待明确数据显示劳动力短缺是否不仅仅是暂时的，这意味着政策制定者可能不得不比看起来更快、更快地采取行动--尤其是如果未来几个月出现像 6 月份这样具有欺骗性的平衡报告的话。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197906560","content_text":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.\nOne might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.\nFirst, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.\nWhat’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.\nSecond, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.\nThird, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.\n“If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.\nFurther highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.\nSo, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.\nThe degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.\nWhile about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.\nAt least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.\nAll of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.\nNot so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.\nIf that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.\nTherein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.\nInvestors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}