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2021-05-29

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2021-09-20

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Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</blockquote>

2021-06-12

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2021-08-05

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2021-06-09

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2021-09-09

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2021-07-19

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Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街罪与罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>

2021-07-16

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2021-07-15

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2021-09-06

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GameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote>

2021-08-21

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Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>

2021-09-01

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2021-06-20

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2021-08-20

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Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>

2021-07-25

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

2021-07-13

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2021-07-09

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2021-07-06

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2021-09-18

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US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>

2021-09-15

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U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>

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pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860967794","repostId":"1109188181","repostType":4,"repost":{"id":"1109188181","kind":"news","pubTimestamp":1632123243,"share":"https://www.laohu8.com/m/news/1109188181?lang=zh_CN&edition=full","pubTime":"2021-09-20 15:34","market":"us","language":"en","title":"Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109188181","media":"MarketWatch","summary":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four l","content":"<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD和MACD直方图可以提振您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出输赢头寸的区别。MACD（移动平均线收敛发散）是交易者在分析中一贯使用的关键股市指标（与移动平均线和RSI一起）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们讨论一些使用这种功能强大且多功能的仪表的创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定趋势及其相关动量（即方向速度和持续时间）何时结束或开始，或者可能逆转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD是一个“滞后”或“向后看”指标，这意味着它的信号会延迟，但不要让这阻止你。当MACD产生信号时，它通常是重要的，尤其是在周线图上使用时（相对于短线交易者喜欢的日线图）。事实上，MACD时间框架越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为“MACD线”。灰色(或红色)线被称为“信号线”记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，一条横穿图表的水平线称为“零线”（0线），零线的主要作用是提醒你标的价格行为的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的层面上，MACD会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线越过零线时，看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线穿越九日信号线上方时，看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿零线时，看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿九日信号线时，看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九天信号线都朝着同一个方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是可操作的交易。与任何指标一样，也存在错误信号。此外，在投入真钱进行交易之前，您必须确认其他指标。将这些MACD买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数DJIA(-0.48%)或标准普尔500SPX(-0.91%)的MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到主要市场指数的波动性恢复。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD现在对特斯拉有何看法</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>例如，特斯拉TSLA，+0.33%的周线图显示其MACD位于零线上方，MACD线位于信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>基于这一信息，特斯拉股票目前属于短期“强力”买入。如果特斯拉的MACD线跌破其信号线，而两条线都高于零线，则该股将属于“适度”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我与MACD的创始人杰拉尔德·阿佩尔（Gerald Appel）进行了交谈。他告诉我，他在20世纪70年代末通过在打孔机和电子表格中输入数字创造了MACD。个人电脑发明后，他能够使这个过程自动化。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>Appel对MACD变得如此受欢迎表示惊讶。“它之所以有效，是因为它可以适应任何时间范围，”他说。“您可以通过使用基于月度数据的MACD模式来很好地了解市场的主要趋势。您也可以在五分钟图上使用它。”</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说：“由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。当越来越多的股票下跌时，市场平均线也有可能继续向上漂移。”</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>阿佩尔警告说，你必须根据其他指标确认MACD信号。“没有一个指标是绝对正确的，”他说。“你可能会看到市场上涨，而MACD转向下跌。也许你认为这是卖出信号。嗯，可能不是。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>阿佩尔补充说，他喜欢同时处理不同的MACD时间框架。例如，如果短期MACD与中期MACD一起出现，他就更有信心信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD最强大（但经常被忽视）的补充之一是MACD直方图。该振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个独立的程序，应该可以在您的图表包中找到。使用此功能的交易者通常同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果棒线移动到零线以上，这意味着标的股票（或指数）正在获得力量，即动量。如果棒线移动到零线以下，股票或指数正在失去力量。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到动量总是先于价格变化。这就是MACD和MACD直方图如此有价值的原因。这两个指标都可以检测动能何时减弱。如果直方图柱移动到零线上方，这也可能是看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果MACD直方图条变成较浅的颜色，这意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图柱跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>危险信号</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD转低，这是一个危险信号。此外，如果您看到MACD直方图改变颜色并且棒线变短，则确认动量正在减弱（但请根据RSI或随机指标确认这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过MACD或MACD直方图，请尝试一下。对任何已经触底并正在走高的股票使用这些衡量标准。他们将帮助确认股票是否有腿，或者只是给交易者一个头假的。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere（michaelsincere.com）是《了解期权》和《了解股票》的作者。</i></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>Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</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\">\nSavvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-20 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD和MACD直方图可以提振您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出输赢头寸的区别。MACD（移动平均线收敛发散）是交易者在分析中一贯使用的关键股市指标（与移动平均线和RSI一起）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们讨论一些使用这种功能强大且多功能的仪表的创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定趋势及其相关动量（即方向速度和持续时间）何时结束或开始，或者可能逆转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD是一个“滞后”或“向后看”指标，这意味着它的信号会延迟，但不要让这阻止你。当MACD产生信号时，它通常是重要的，尤其是在周线图上使用时（相对于短线交易者喜欢的日线图）。事实上，MACD时间框架越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为“MACD线”。灰色(或红色)线被称为“信号线”记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，一条横穿图表的水平线称为“零线”（0线），零线的主要作用是提醒你标的价格行为的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的层面上，MACD会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线越过零线时，看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线穿越九日信号线上方时，看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿零线时，看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿九日信号线时，看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九天信号线都朝着同一个方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是可操作的交易。与任何指标一样，也存在错误信号。此外，在投入真钱进行交易之前，您必须确认其他指标。将这些MACD买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数DJIA(-0.48%)或标准普尔500SPX(-0.91%)的MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到主要市场指数的波动性恢复。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD现在对特斯拉有何看法</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>例如，特斯拉TSLA，+0.33%的周线图显示其MACD位于零线上方，MACD线位于信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>基于这一信息，特斯拉股票目前属于短期“强力”买入。如果特斯拉的MACD线跌破其信号线，而两条线都高于零线，则该股将属于“适度”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我与MACD的创始人杰拉尔德·阿佩尔（Gerald Appel）进行了交谈。他告诉我，他在20世纪70年代末通过在打孔机和电子表格中输入数字创造了MACD。个人电脑发明后，他能够使这个过程自动化。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>Appel对MACD变得如此受欢迎表示惊讶。“它之所以有效，是因为它可以适应任何时间范围，”他说。“您可以通过使用基于月度数据的MACD模式来很好地了解市场的主要趋势。您也可以在五分钟图上使用它。”</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说：“由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。当越来越多的股票下跌时，市场平均线也有可能继续向上漂移。”</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>阿佩尔警告说，你必须根据其他指标确认MACD信号。“没有一个指标是绝对正确的，”他说。“你可能会看到市场上涨，而MACD转向下跌。也许你认为这是卖出信号。嗯，可能不是。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>阿佩尔补充说，他喜欢同时处理不同的MACD时间框架。例如，如果短期MACD与中期MACD一起出现，他就更有信心信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD最强大（但经常被忽视）的补充之一是MACD直方图。该振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个独立的程序，应该可以在您的图表包中找到。使用此功能的交易者通常同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果棒线移动到零线以上，这意味着标的股票（或指数）正在获得力量，即动量。如果棒线移动到零线以下，股票或指数正在失去力量。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到动量总是先于价格变化。这就是MACD和MACD直方图如此有价值的原因。这两个指标都可以检测动能何时减弱。如果直方图柱移动到零线上方，这也可能是看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果MACD直方图条变成较浅的颜色，这意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图柱跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>危险信号</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD转低，这是一个危险信号。此外，如果您看到MACD直方图改变颜色并且棒线变短，则确认动量正在减弱（但请根据RSI或随机指标确认这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过MACD或MACD直方图，请尝试一下。对任何已经触底并正在走高的股票使用这些衡量标准。他们将帮助确认股票是否有腿，或者只是给交易者一个头假的。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere（michaelsincere.com）是《了解期权》和《了解股票》的作者。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109188181","content_text":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.\nLet’s discuss a number of creative ways to use this powerful and versatile gauge.\nMACD, introduced in the late 1970s, is a trend-following momentum indicator.  It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.\nBe aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.\nWhen you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.\nIn addition, a horizontal line runs across the chart called the “zero line” (0 line).  The main function of the zero line is to alert you to the primary trend of the underlying price action.\nFour simple trading signals\nAt its most basic level, MACD generates four signals:\nBuy:When the MACD line crosses above the zero line, it’s bullish.\nBuy:When the MACD line crosses above the nine-day signal line, it’s bullish.\nSell:When the MACD line crosses below the zero line, it’s bearish.\nSell:When the MACD line crosses below the nine-day signal line, it’s bearish.\nNote: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.\nKeep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.\nAnother limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.\nWhat MACD says about Tesla now\nFor example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.\nBased on this information, Tesla stock currently is a short-term “strong” buy. If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.\nA few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.\nAppel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”\nMACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”\nAppel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”\nAppel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.\nThe MACD-Histogram\nOne of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package. Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.\nThe histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.\nMany beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.\nHistogram signals\n\nIf the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.\n\n\nAs mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.\n\nRed flags\nIf you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).\nIf you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.\nMichael Sincere (michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2874,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887275527,"gmtCreate":1632056783569,"gmtModify":1632803103735,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887275527","repostId":"2168508165","repostType":4,"isVote":1,"tweetType":1,"viewCount":3358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887307543,"gmtCreate":1631970199482,"gmtModify":1632805035455,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/887307543","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</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":{"AKA":"a.k.a. Brands Holding Corp.","CWAN":"Clearwater Analytics Holdings, Inc.","THRN":"Thorne Healthtech","SOVO":"Sovos Brands, Inc.","TOST":"Toast, Inc.","ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","RELY":"Remitly Global, Inc.","HLTH":"Cue Health Inc.","ESMT":"EngageSmart Inc.","BRLT":"Brilliant Earth Group, Inc.","STER":"Sterling Check Corp."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"ESMT":0.9,"TOST":0.9,"STER":0.9,"AKA":0.9,"HLTH":0.9,"KDC":0.9,"CWAN":0.9,"THRN":0.9,"FRSH":0.9,"SOVO":0.9,"BRLT":0.9,"RELY":0.9,"ARBK":0.9}},"isVote":1,"tweetType":1,"viewCount":3202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885915057,"gmtCreate":1631750930279,"gmtModify":1631890796399,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/885915057","repostId":"2167090590","repostType":4,"isVote":1,"tweetType":1,"viewCount":1582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882630897,"gmtCreate":1631681711819,"gmtModify":1631890796402,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/882630897","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","kind":"news","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=zh_CN&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-09-15 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886129820,"gmtCreate":1631576330860,"gmtModify":1631890796406,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/886129820","repostId":"2167330945","repostType":4,"isVote":1,"tweetType":1,"viewCount":2606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888425138,"gmtCreate":1631521095424,"gmtModify":1631890796406,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/888425138","repostId":"1136416859","repostType":4,"repost":{"id":"1136416859","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":1631520337,"share":"https://www.laohu8.com/m/news/1136416859?lang=zh_CN&edition=full","pubTime":"2021-09-13 16:05","market":"us","language":"en","title":"Virgin Galactic stock dropped 3.4% in premarket trading<blockquote>维珍银河股价在盘前交易中下跌3.4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136416859","media":"Tiger Newspress","summary":"Virgin Galactic stock dropped 3.5% in premarket trading on delaying to space mission with Italian Ai","content":"<p>Virgin Galactic stock&nbsp;dropped 3.5% in premarket trading&nbsp;on&nbsp;delaying to space mission with Italian Air Force.</p><p><blockquote>由于推迟与意大利空军的太空任务，维珍银河股价在盘前交易中下跌3.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/65d1b70c4c67857a14c94c87b6cb9af9\" tg-width=\"892\" tg-height=\"821\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Virgin Galactic Holdings Inc&nbsp;on last&nbsp;Friday flagged a delay to its first commercial research mission with the Italian Air Force to mid-October due to a potential manufacturing defect.</p><p><blockquote>维珍银河控股公司上周五表示，由于潜在的制造缺陷，其与意大利空军的首次商业研究任务将推迟至10月中旬。</blockquote></p><p> The company also attributed the delay in the mission, named \"Unity 23\", to the pending resolution of a probe by the U.S. Federal Aviation Administration (FAA).</p><p><blockquote>该公司还将这项名为“Unity 23”的任务的延迟归因于美国联邦航空管理局（FAA）的调查悬而未决。</blockquote></p><p> Virgin Galactic said on last&nbsp;Friday a third-party supplier warned of a potential manufacturing defect in a component of the flight control system during test flight preparations.</p><p><blockquote>维珍银河上周五表示，一家第三方供应商在试飞准备期间警告称，飞行控制系统的一个组件可能存在制造缺陷。</blockquote></p><p> \"At this point, it is not yet known whether the defect is present in the company's vehicles and what, if any, repair work may be needed,\" the company said, adding it was conducting inspections with the vendor.</p><p><blockquote>该公司表示：“目前尚不清楚该公司的车辆是否存在缺陷，以及如果有，可能需要进行哪些维修工作。”并补充说正在与供应商进行检查。</blockquote></p><p> The mission was initially set for late September or early October to carry three paying crew members from the Italian Air Force and the Rome-based government agency National Research Council.</p><p><blockquote>该任务最初定于9月底或10月初进行，搭载来自意大利空军和罗马政府机构国家研究委员会的三名付费机组人员。</blockquote></p><p> The FAA is investigating the flight that took billionaire Richard Branson to space in July, and last week barred SpaceShipTwo flights until the agency approves the final mishap report or determines the issues do not affect public safety.</p><p><blockquote>美国联邦航空局正在调查7月份将亿万富翁理查德·布兰森送入太空的飞行，并于上周禁止太空船二号飞行，直到该机构批准最终事故报告或确定这些问题不影响公共安全。</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>Virgin Galactic stock dropped 3.4% in premarket trading<blockquote>维珍银河股价在盘前交易中下跌3.4%</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\">\nVirgin Galactic stock dropped 3.4% in premarket trading<blockquote>维珍银河股价在盘前交易中下跌3.4%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-13 16:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Virgin Galactic stock&nbsp;dropped 3.5% in premarket trading&nbsp;on&nbsp;delaying to space mission with Italian Air Force.</p><p><blockquote>由于推迟与意大利空军的太空任务，维珍银河股价在盘前交易中下跌3.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/65d1b70c4c67857a14c94c87b6cb9af9\" tg-width=\"892\" tg-height=\"821\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Virgin Galactic Holdings Inc&nbsp;on last&nbsp;Friday flagged a delay to its first commercial research mission with the Italian Air Force to mid-October due to a potential manufacturing defect.</p><p><blockquote>维珍银河控股公司上周五表示，由于潜在的制造缺陷，其与意大利空军的首次商业研究任务将推迟至10月中旬。</blockquote></p><p> The company also attributed the delay in the mission, named \"Unity 23\", to the pending resolution of a probe by the U.S. Federal Aviation Administration (FAA).</p><p><blockquote>该公司还将这项名为“Unity 23”的任务的延迟归因于美国联邦航空管理局（FAA）的调查悬而未决。</blockquote></p><p> Virgin Galactic said on last&nbsp;Friday a third-party supplier warned of a potential manufacturing defect in a component of the flight control system during test flight preparations.</p><p><blockquote>维珍银河上周五表示，一家第三方供应商在试飞准备期间警告称，飞行控制系统的一个组件可能存在制造缺陷。</blockquote></p><p> \"At this point, it is not yet known whether the defect is present in the company's vehicles and what, if any, repair work may be needed,\" the company said, adding it was conducting inspections with the vendor.</p><p><blockquote>该公司表示：“目前尚不清楚该公司的车辆是否存在缺陷，以及如果有，可能需要进行哪些维修工作。”并补充说正在与供应商进行检查。</blockquote></p><p> The mission was initially set for late September or early October to carry three paying crew members from the Italian Air Force and the Rome-based government agency National Research Council.</p><p><blockquote>该任务最初定于9月底或10月初进行，搭载来自意大利空军和罗马政府机构国家研究委员会的三名付费机组人员。</blockquote></p><p> The FAA is investigating the flight that took billionaire Richard Branson to space in July, and last week barred SpaceShipTwo flights until the agency approves the final mishap report or determines the issues do not affect public safety.</p><p><blockquote>美国联邦航空局正在调查7月份将亿万富翁理查德·布兰森送入太空的飞行，并于上周禁止太空船二号飞行，直到该机构批准最终事故报告或确定这些问题不影响公共安全。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136416859","content_text":"Virgin Galactic stock dropped 3.5% in premarket trading on delaying to space mission with Italian Air Force.\n\nVirgin Galactic Holdings Inc on last Friday flagged a delay to its first commercial research mission with the Italian Air Force to mid-October due to a potential manufacturing defect.\nThe company also attributed the delay in the mission, named \"Unity 23\", to the pending resolution of a probe by the U.S. Federal Aviation Administration (FAA).\nVirgin Galactic said on last Friday a third-party supplier warned of a potential manufacturing defect in a component of the flight control system during test flight preparations.\n\"At this point, it is not yet known whether the defect is present in the company's vehicles and what, if any, repair work may be needed,\" the company said, adding it was conducting inspections with the vendor.\nThe mission was initially set for late September or early October to carry three paying crew members from the Italian Air Force and the Rome-based government agency National Research Council.\nThe FAA is investigating the flight that took billionaire Richard Branson to space in July, and last week barred SpaceShipTwo flights until the agency approves the final mishap report or determines the issues do not affect public safety.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":2459,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888390978,"gmtCreate":1631430405494,"gmtModify":1631890796409,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888390978","repostId":"1189654544","repostType":4,"repost":{"id":"1189654544","kind":"news","pubTimestamp":1631406130,"share":"https://www.laohu8.com/m/news/1189654544?lang=zh_CN&edition=full","pubTime":"2021-09-12 08:22","market":"us","language":"en","title":"US IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week<blockquote>美国IPO周：秋季IPO市场以10周IPO拉开帷幕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189654544","media":"Renaissance Capital","summary":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion i","content":"<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.</p><p><blockquote>在短暂的假期周经历了一波发行之后，未来一周将有10起IPO计划筹集超过30亿美元的资金。</blockquote></p><p> Tech consultancy&nbsp;<b>Thoughtworks</b>(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.</p><p><blockquote>技术咨询<b>Thoughtworks</b>(TWKS)计划以63亿美元的市值筹集7亿美元。这家敏捷软件开发商为300多家企业客户提供优质的端到端数字战略、设计和工程服务。从2017年到2020年，该公司的收入复合年增长率为14%，并在2020年和2021年上半年扩大了利润率。</blockquote></p><p> Swiss running shoe brand&nbsp;<b>On Holding</b>(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.</p><p><blockquote>瑞士跑鞋品牌<b>持有时</b>(ONON)计划以59亿美元的市值筹集5.91亿美元。On是一家全球优质运动鞋、服装和配饰供应商，采用可持续材料及其专有技术设计。尽管面临来自其他知名运动服装品牌的激烈竞争，但该公司已展现出增长和盈利能力。</blockquote></p><p> After ending talks to go public via SPAC,<b>Sportradar Group</b>(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.</p><p><blockquote>在结束通过SPAC上市的谈判后，<b>Sportradar集团</b>(SRAD)计划以79亿美元的市值筹集5.04亿美元。这家瑞士公司每年报道83项运动的750,000多场赛事，为体育联盟、博彩运营商和媒体公司提供软件、数据和内容。Sportradar已实现盈利，随着体育直播的恢复，2021年上半年增长加速。</blockquote></p><p> Drive-thru coffee chain&nbsp;<b>Dutch Bros</b>(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.</p><p><blockquote>得来速咖啡连锁店<b>荷兰兄弟</b>(BROS)计划以33亿美元的市值筹集4亿美元。这家总部位于俄勒冈州的公司在美国西部拥有471家得来速咖啡店连锁店，随着业务扩展到新州，它一直能够保持同店销售增长的记录。内部人士收到了IPO前的股息，并将把股票卖回给公司。</blockquote></p><p> Healthcare intelligence platform&nbsp;<b>Definitive Healthcare</b>(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.</p><p><blockquote>医疗智能平台<b>权威医疗保健</b>(DH)计划以33亿美元的市值筹集3.5亿美元。该公司提供医疗保健商业智能和分析平台，帮助其客户分析、导航和销售复杂的医疗保健生态系统。由于增长强劲，Definitive Healthcare尚未盈利，但将在IPO后进行杠杆化。</blockquote></p><p> Identity management platform&nbsp;<b>ForgeRock</b>(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.</p><p><blockquote>身份管理平台<b>ForgeRock</b>(FORG)计划以21亿美元的市值筹集2.48亿美元。该公司提供身份和访问管理软件，以及一个提供、认证和管理所有类型数字身份的平台。由于销售和营销费用高昂，ForgeRock无利可图，是价值数十亿美元的身份和访问市场中领先的下一代提供商。</blockquote></p><p> Immunology biotech&nbsp;<b>DICE Therapeutics</b>(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.</p><p><blockquote>免疫学生物技术<b>骰子疗法</b>(DICE)计划以5.5亿美元的市值筹集1.6亿美元。这家生物技术公司正在开发口服小分子疗法，以治疗免疫学和其他治疗领域的慢性疾病。DICE计划启动其主要候选药物S011806的1期试验，这是一种具有多种免疫学适应症的口服拮抗剂。</blockquote></p><p> Surgical robotics developer&nbsp;<b>PROCEPT BioRobotics</b>(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.</p><p><blockquote>手术机器人开发商<b>PROCEPT生物机器人</b>(PRCT)计划以11亿美元的市值筹集1.27亿美元。这家商业阶段的公司开发用于微创泌尿外科手术的手术机器人系统，最初的重点是治疗良性前列腺增生。PROCEPT BioRobotics非常无利可图，2021年上半年收入增长了六倍多。</blockquote></p><p> Oncology biotech&nbsp;<b>Tyra Biosciences</b>(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.</p><p><blockquote>肿瘤生物技术<b>泰拉生物科学公司</b>(TYRA)计划以5.84亿美元的市值筹集1.01亿美元。这家临床前生物技术公司正在开发用于癌症，特别是实体瘤的FGFR激酶抑制剂。Tyra的主要候选药物最初专注于膀胱癌，该公司预计将于2022年中期提交IND。</blockquote></p><p> Micro-cap gas delivery service&nbsp;<b>EzFill Holdings</b>(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.</p><p><blockquote>微帽气体输送服务<b>埃兹菲尔控股</b>(EZFL)计划以1.04亿美元的市值筹集2500万美元。这家移动加油公司通过移动应用程序在佛罗里达州提供按需加油服务。由于爆炸性增长，EzFill表示，它是南佛罗里达州市场的主导者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/718698ff98644c4026f32efe91d076c6\" tg-width=\"1128\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/97fe13300d9e4cf61effc59b9706776a\" tg-width=\"1129\" tg-height=\"247\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&amp;P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至9/9/21，文艺复兴IPO指数今年迄今上涨了7.7%，而标普500上涨了19.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有的顶级ETF包括Snowflake（SNOW）和Palantir Technologies（PLTR）。Renaissance International IPO指数今年迄今下跌11.0%，而ACWX指数上涨10.0%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有的顶级ETF包括思摩尔国际和殷拓合伙人。</blockquote></p><p></p>","source":"lsy1603787993745","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>US IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week<blockquote>美国IPO周：秋季IPO市场以10周IPO拉开帷幕</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\">\nUS IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week<blockquote>美国IPO周：秋季IPO市场以10周IPO拉开帷幕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-09-12 08:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.</p><p><blockquote>在短暂的假期周经历了一波发行之后，未来一周将有10起IPO计划筹集超过30亿美元的资金。</blockquote></p><p> Tech consultancy&nbsp;<b>Thoughtworks</b>(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.</p><p><blockquote>技术咨询<b>Thoughtworks</b>(TWKS)计划以63亿美元的市值筹集7亿美元。这家敏捷软件开发商为300多家企业客户提供优质的端到端数字战略、设计和工程服务。从2017年到2020年，该公司的收入复合年增长率为14%，并在2020年和2021年上半年扩大了利润率。</blockquote></p><p> Swiss running shoe brand&nbsp;<b>On Holding</b>(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.</p><p><blockquote>瑞士跑鞋品牌<b>持有时</b>(ONON)计划以59亿美元的市值筹集5.91亿美元。On是一家全球优质运动鞋、服装和配饰供应商，采用可持续材料及其专有技术设计。尽管面临来自其他知名运动服装品牌的激烈竞争，但该公司已展现出增长和盈利能力。</blockquote></p><p> After ending talks to go public via SPAC,<b>Sportradar Group</b>(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.</p><p><blockquote>在结束通过SPAC上市的谈判后，<b>Sportradar集团</b>(SRAD)计划以79亿美元的市值筹集5.04亿美元。这家瑞士公司每年报道83项运动的750,000多场赛事，为体育联盟、博彩运营商和媒体公司提供软件、数据和内容。Sportradar已实现盈利，随着体育直播的恢复，2021年上半年增长加速。</blockquote></p><p> Drive-thru coffee chain&nbsp;<b>Dutch Bros</b>(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.</p><p><blockquote>得来速咖啡连锁店<b>荷兰兄弟</b>(BROS)计划以33亿美元的市值筹集4亿美元。这家总部位于俄勒冈州的公司在美国西部拥有471家得来速咖啡店连锁店，随着业务扩展到新州，它一直能够保持同店销售增长的记录。内部人士收到了IPO前的股息，并将把股票卖回给公司。</blockquote></p><p> Healthcare intelligence platform&nbsp;<b>Definitive Healthcare</b>(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.</p><p><blockquote>医疗智能平台<b>权威医疗保健</b>(DH)计划以33亿美元的市值筹集3.5亿美元。该公司提供医疗保健商业智能和分析平台，帮助其客户分析、导航和销售复杂的医疗保健生态系统。由于增长强劲，Definitive Healthcare尚未盈利，但将在IPO后进行杠杆化。</blockquote></p><p> Identity management platform&nbsp;<b>ForgeRock</b>(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.</p><p><blockquote>身份管理平台<b>ForgeRock</b>(FORG)计划以21亿美元的市值筹集2.48亿美元。该公司提供身份和访问管理软件，以及一个提供、认证和管理所有类型数字身份的平台。由于销售和营销费用高昂，ForgeRock无利可图，是价值数十亿美元的身份和访问市场中领先的下一代提供商。</blockquote></p><p> Immunology biotech&nbsp;<b>DICE Therapeutics</b>(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.</p><p><blockquote>免疫学生物技术<b>骰子疗法</b>(DICE)计划以5.5亿美元的市值筹集1.6亿美元。这家生物技术公司正在开发口服小分子疗法，以治疗免疫学和其他治疗领域的慢性疾病。DICE计划启动其主要候选药物S011806的1期试验，这是一种具有多种免疫学适应症的口服拮抗剂。</blockquote></p><p> Surgical robotics developer&nbsp;<b>PROCEPT BioRobotics</b>(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.</p><p><blockquote>手术机器人开发商<b>PROCEPT生物机器人</b>(PRCT)计划以11亿美元的市值筹集1.27亿美元。这家商业阶段的公司开发用于微创泌尿外科手术的手术机器人系统，最初的重点是治疗良性前列腺增生。PROCEPT BioRobotics非常无利可图，2021年上半年收入增长了六倍多。</blockquote></p><p> Oncology biotech&nbsp;<b>Tyra Biosciences</b>(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.</p><p><blockquote>肿瘤生物技术<b>泰拉生物科学公司</b>(TYRA)计划以5.84亿美元的市值筹集1.01亿美元。这家临床前生物技术公司正在开发用于癌症，特别是实体瘤的FGFR激酶抑制剂。Tyra的主要候选药物最初专注于膀胱癌，该公司预计将于2022年中期提交IND。</blockquote></p><p> Micro-cap gas delivery service&nbsp;<b>EzFill Holdings</b>(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.</p><p><blockquote>微帽气体输送服务<b>埃兹菲尔控股</b>(EZFL)计划以1.04亿美元的市值筹集2500万美元。这家移动加油公司通过移动应用程序在佛罗里达州提供按需加油服务。由于爆炸性增长，EzFill表示，它是南佛罗里达州市场的主导者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/718698ff98644c4026f32efe91d076c6\" tg-width=\"1128\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/97fe13300d9e4cf61effc59b9706776a\" tg-width=\"1129\" tg-height=\"247\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&amp;P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至9/9/21，文艺复兴IPO指数今年迄今上涨了7.7%，而标普500上涨了19.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有的顶级ETF包括Snowflake（SNOW）和Palantir Technologies（PLTR）。Renaissance International IPO指数今年迄今下跌11.0%，而ACWX指数上涨10.0%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有的顶级ETF包括思摩尔国际和殷拓合伙人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week\">Renaissance Capital</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":{"ONON":"On Holding AG","TWKS":"Thoughtworks Holding Inc.","PRCT":"PROCEPT BioRobotics","DICE":"DICE Therapeutics, Inc.",".SPX":"S&P 500 Index",".DJI":"道琼斯","SRAD":"Sportradar Group AG","FORG":"ForgeRock, Inc.","DH":"Definitive Healthcare Corp.",".IXIC":"NASDAQ Composite","TYRA":"Tyra Biosciences, Inc.","BROS":"Dutch Bros Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189654544","content_text":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.\nTech consultancy Thoughtworks(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.\nSwiss running shoe brand On Holding(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.\nAfter ending talks to go public via SPAC,Sportradar Group(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.\nDrive-thru coffee chain Dutch Bros(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.\nHealthcare intelligence platform Definitive Healthcare(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.\nIdentity management platform ForgeRock(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.\nImmunology biotech DICE Therapeutics(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.\nSurgical robotics developer PROCEPT BioRobotics(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.\nOncology biotech Tyra Biosciences(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.\nMicro-cap gas delivery service EzFill Holdings(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.\n\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.","news_type":1,"symbols_score_info":{".IXIC":0.9,"EZFL":0.9,"PRCT":0.9,"DICE":0.9,"DH":0.9,"ONON":0.9,"FORG":0.9,"TWKS":0.9,".SPX":0.9,".DJI":0.9,"BROS":0.9,"TYRA":0.9,"SRAD":0.9}},"isVote":1,"tweetType":1,"viewCount":2613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883899545,"gmtCreate":1631231322087,"gmtModify":1631890796413,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883899545","repostId":"1120905632","repostType":4,"isVote":1,"tweetType":1,"viewCount":3208,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889658042,"gmtCreate":1631147110486,"gmtModify":1631890796415,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/889658042","repostId":"2166392072","repostType":4,"isVote":1,"tweetType":1,"viewCount":3040,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889651260,"gmtCreate":1631147090950,"gmtModify":1631890796420,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/889651260","repostId":"2166392072","repostType":4,"isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880462704,"gmtCreate":1631073273608,"gmtModify":1631890796424,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/880462704","repostId":"1156621493","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880921422,"gmtCreate":1631011992566,"gmtModify":1631890796428,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/880921422","repostId":"1130130857","repostType":4,"repost":{"id":"1130130857","kind":"news","pubTimestamp":1631007146,"share":"https://www.laohu8.com/m/news/1130130857?lang=zh_CN&edition=full","pubTime":"2021-09-07 17:32","market":"us","language":"en","title":"Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130130857","media":"Barron's","summary":"What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and  a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin","content":"<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊！在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔500股票指数已上涨20%，连续七个月上涨，并创下50多个高点。除此之外，去年市场从2020年3月的低点反弹了68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨。刺激支出已经见顶，经济和企业盈利增长可能会在今年年底放缓。此外，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。这些都不会让股价越来越贵的持有者满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，要做好迎接波动性下跌的准备，这种冲突迫使巴菲特股票、债券和投资者。Nuveen全球股票首席投资官Saira Malik表示：“一切反弹都已经过去。”“这不会是一场急剧上升的经济浪潮，将所有船只从这里抬起。”</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识<i>巴伦周刊</i>最近咨询过。所有人都认为标普500将在周四收盘价4536点附近结束今年。他们的平均目标是：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>相对于最近的趋势，明年的涨幅看起来也很微弱。该集团预计2022年标普500将再增加6%，升至约4800。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的21倍，债券收益率很低，考虑通货膨胀后现金收益率低于零，投资者面临着艰难的资产配置决策。我们的市场观察人士建议关注“优质”投资，而不是提振快速增长的科技股、无增长的模因股和数字世界的狗狗币的“一切反弹”。在股票方面，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业的股票。即使未来几个月平均指数表现不大，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅上涨是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免新冠疫情造成的经济损失。自2020年3月以来，美联储每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并推动投资者进入包括股票在内的风险较高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买，此举可能会扰乱各类风险资产。摩根士丹利(Morgan Stanley)首席投资官兼首席美国股票策略师威尔逊(Mike Wilson)表示：“对我们来说，缩减规模很简单：缩减规模就是紧缩。这是（美联储）距离最大限度宽松政策迈出的第一步。他们这次对此非常谨慎，但底线是，这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>策略师指出，政府的刺激支出也已见顶。每周300美元的补充联邦失业救济金将于9月6日到期。尽管国会似乎有可能在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激措施相比，近期的经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约5500亿美元的新支出——只是之前法律授权的数万亿美元的一小部分——并且将分散在许多年内。基础设施刺激措施将给消费者支出带来的短期提振，占美国国内生产总值增长的近70%，但不会接近去年数百万美国人收到政府支票后的经济增长。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>仅由民主党批准的预算法案应该遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施以及其他政党优先事项的支出。国会可能会投票提高企业和高收入个人的税收，以抵消这些支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他带有政治色彩的问题同样可能会让股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计的支出法案来避免<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>10月停工。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对Covid-19德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要限于旅游业和电影院。华尔街对市场的基本假设不包括会破坏经济增长的新一波封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通胀一直是美联储和投资者的热门话题，部分原因是通胀最近非常火爆。6月和7月，美国消费者价格指数年化涨幅为5.4%，这是美联储评级暂时性的飙升，尽管其他人不太确定。策略师们站在鲍威尔一边。他们预计明年通胀将大幅下降。他们的预测在2.5%至3.5%之间，他们认为这对消费者和公司来说是可控的，也是经济快速增长的可接受的副作用。然而，通胀率高于2.5%，加上美联储缩减规模，意味着目前超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>收益投资主管迈克尔·弗雷德里克斯(Michael Fredericks)表示：“我们认为通胀将继续比金融危机以来更高，但一旦许多与重新开放相关的压力开始消散，我们很难看到通胀率远高于2.5%。”贝莱德多资产策略集团。“因此债券收益率确实需要上升，但这将逐渐发生。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比当前水平高出约35个基点（即百分之几个百分点），但低于2021年3月收益率高点时达到的1.75%。该组织表示，到明年，10年期国债收益率可能达到2%。从绝对值来看，这些举措并不是很大，但对债券市场来说意义重大，对股票来说可能更是如此。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会打压股票估值，原因有二。高收益债券提供了与股票的竞争，当以更高的利率贴现时，公司的未来收益在目前毫无价值。尽管如此，2%左右的10年期国债收益率仍不足以将股票估值降至新冠疫情爆发前的水平。即使收益率攀升，市场策略师认为标普500的市盈率仍远高于预期市盈率16倍的30年平均水平。去年秋天，该指数的远期市盈率突破23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要10年期国债收益率保持在2%的范围内，标普500的远期市盈率就应该能够在十几岁左右。除非收益率高得多或其他导致股市下跌的因素带来更大压力，否则不可能回到16倍的长期平均水平。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>表示，如果收益率飙升超过2%或2.25%，投资者可能会开始更严重地质疑股票估值<a href=\"https://laohu8.com/S/STT\">国家</a>Street首席投资组合策略师Gaurav Mallik：“我们已经有一段时间没有看到（10年期国债收益率）超过2%了，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出，股市的估值风险是不对称的：“市盈率不太可能上升，考虑到增长放缓和我们所处的位置，市盈率很有可能下降10%以上。在周期中，”他说</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充道，如果预期市盈率为16至23倍，“你已经处于这个范围的很高端。潜在风险大于回报。”</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>所有六位策略师的预测都包含了一些市盈率倍数的压缩，这对利润增长路径变得更加重要。平均而言，策略师预计，继去年的盈利低迷之后，标普500今年的盈利将增长46%，至204美元左右。随后，2022年可能会上涨9%，达到约222.50美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是2022年联邦企业税率上升。民主党支出和税收计划的细节将在未来几周内制定出来，投资者可以期待听到更多有关潜在增税的消息。几位策略师认为，25%的联邦企业利润税率可能是一个妥协数字，高于2018年以来实施的21%，但低于拜登政府寻求的28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约5%。随着今年秋天民主党和解法案的通过，该指数可能会下跌类似的幅度，但影响应该仅限于最初的调整。与2017年12月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>——一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>抛开这些担忧不谈，投资者不应错过更大的图景：美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。Mallik表示：“周期性上涨和高于趋势的增长将至少持续到2022年，我们希望偏向于具有这种风险的资产。”</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将会火爆。当GDP增长高于平均水平时，价值会战胜增长，周期性会战胜防御性。”—Lori Calvasina，加拿大皇家银行资本市场道富策略师建议在投资组合中增持材料、金融和科技股。这种方法既包括银行和矿业公司等对经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场(RBC Capital Markets)美国股票策略主管洛里·卡尔瓦西纳(Lori Calvasina)同样采取杠铃法，同时投资周期性和成长性。她最喜欢的行业是能源、金融和技术。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>卡尔瓦西纳表示：“金融和能源行业的估值仍然比增长行业（科技或非必需消费品等行业）更具吸引力。”“近期的催化剂是摆脱当前的新冠疫情浪潮……今年和明年我们将迎来经济火爆，传统上，当GDP增长高于平均水平时，价值会跑赢增长，周期性会跑赢防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是关键，尤其是进入2022年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>卡尔瓦西纳表示：“历史上的剧本是，走出衰退后，你往往会看到持续一年左右的低质量优异表现，然后领导力又会恢复到高质量。”“但从低质量回到高质量的转变往往非常坎坷。”</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师青睐对经济敏感的股票和稳定增长的股票（包括科技股）的组合。金融股应该会表现良好，特别是如果债券收益率上升的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管今年夏天具有质量属性的股票表现优于大盘，但根据一家<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析，自去年11月首次报道疫苗正面消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>贝莱德的弗雷德里克斯表示：“我们正在进入周期中期环境，基本经济增长仍然强劲，但势头开始减速。”“我们的研究表明，优质股票在这样的时期表现尤其出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融，包括银行，以及具有这些质量特征的消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>股票策略主管克里斯托弗·哈维(Christopher Harvey)表示，大流行后受益者和防御性敞口的结合才是正确的选择。他构建了一篮子波动性低于平均水平的股票——在今年秋季市场不确定性或压力时期，这些股票应该会跑赢大盘——并且“新冠贝塔值”较高，即对有关大流行的好消息或坏消息的敏感性。一个要求；富国银行的股票分析师必须将这些股票评级为“买入”。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>哈维表示：“近期经济存在不确定性、利率不确定性和新冠病毒风险，一般来说，我们正处于9月份左右的季节性疲软时期。”“如果我们能够平衡低波动性和高Covid贝塔值，我们就可以减轻其中几种催化剂时机即将到来的不确定性和波动性。不过，从长远来看，我们仍然希望[重新开放风险。]”</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的具有高新贝塔值的低波动性股票名单包括苹果(AAPL)、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">IQVIA</a>控股公司（IQV）和马斯科公司（MAS）。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。Invesco KBW银行交易所交易基金(KBWB)提供对美国该行业的广泛投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“我们喜欢估值和信用质量；他们现在被允许回购股票并增加股息，而且新冠贝塔值更高，”哈维说。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>较低的估值意味着市场调整中潜在的下行空间较小。而且，与股市的其他大部分地区相反，更高的利率将成为银行的顺风车，银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。”<a href=\"https://laohu8.com/S/HR\">医疗保健</a>具有防御性和成长性，”威尔逊说。“如今，医疗保健行业每单位增长支付的费用比其他行业低得多。因此，我们认为，当我们担心估值时，它为这个市场提供了良好的平衡。”健康保险公司Humana(HUM)跻身威尔逊“新鲜资金买入名单”股票买入评级<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen的Malik还将目光投向医疗保健领域，以获得相对低估的增长机会，即制药和生物技术领域。她指出了Seagen(SGEN)，该公司专注于肿瘤药物，可能成为制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维(ABBV)，该公司的预期市盈率为8倍，股息收益率为4.7%。其重磅抗炎药修美乐(Humira)的专利即将到期，这让一些投资者望而却步，但马利克相信管理层能够限制损失，并看到这家价值2000亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都过得很艰难。Seagen上周跌超8%，报152美元左右，因有消息称其联合创始人兼首席执行官近期大量抛售股票。在美国食品和药物管理局要求为JAK抑制剂贴上新的警告标签后，ABBVIE周三上涨7%，至112.27美元。JAK抑制剂是一种抗类风湿药物，其中包括一种<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生(JNJ)和思科系统(CSCO)是其他通过A的标普500成员<i>巴伦周刊</i>筛选质量属性。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳定上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点下跌，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</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>Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStrategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</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\">2021-09-07 17:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊！在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔500股票指数已上涨20%，连续七个月上涨，并创下50多个高点。除此之外，去年市场从2020年3月的低点反弹了68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨。刺激支出已经见顶，经济和企业盈利增长可能会在今年年底放缓。此外，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。这些都不会让股价越来越贵的持有者满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，要做好迎接波动性下跌的准备，这种冲突迫使巴菲特股票、债券和投资者。Nuveen全球股票首席投资官Saira Malik表示：“一切反弹都已经过去。”“这不会是一场急剧上升的经济浪潮，将所有船只从这里抬起。”</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识<i>巴伦周刊</i>最近咨询过。所有人都认为标普500将在周四收盘价4536点附近结束今年。他们的平均目标是：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>相对于最近的趋势，明年的涨幅看起来也很微弱。该集团预计2022年标普500将再增加6%，升至约4800。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的21倍，债券收益率很低，考虑通货膨胀后现金收益率低于零，投资者面临着艰难的资产配置决策。我们的市场观察人士建议关注“优质”投资，而不是提振快速增长的科技股、无增长的模因股和数字世界的狗狗币的“一切反弹”。在股票方面，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业的股票。即使未来几个月平均指数表现不大，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅上涨是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免新冠疫情造成的经济损失。自2020年3月以来，美联储每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并推动投资者进入包括股票在内的风险较高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买，此举可能会扰乱各类风险资产。摩根士丹利(Morgan Stanley)首席投资官兼首席美国股票策略师威尔逊(Mike Wilson)表示：“对我们来说，缩减规模很简单：缩减规模就是紧缩。这是（美联储）距离最大限度宽松政策迈出的第一步。他们这次对此非常谨慎，但底线是，这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>策略师指出，政府的刺激支出也已见顶。每周300美元的补充联邦失业救济金将于9月6日到期。尽管国会似乎有可能在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激措施相比，近期的经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约5500亿美元的新支出——只是之前法律授权的数万亿美元的一小部分——并且将分散在许多年内。基础设施刺激措施将给消费者支出带来的短期提振，占美国国内生产总值增长的近70%，但不会接近去年数百万美国人收到政府支票后的经济增长。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>仅由民主党批准的预算法案应该遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施以及其他政党优先事项的支出。国会可能会投票提高企业和高收入个人的税收，以抵消这些支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他带有政治色彩的问题同样可能会让股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计的支出法案来避免<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>10月停工。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对Covid-19德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要限于旅游业和电影院。华尔街对市场的基本假设不包括会破坏经济增长的新一波封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通胀一直是美联储和投资者的热门话题，部分原因是通胀最近非常火爆。6月和7月，美国消费者价格指数年化涨幅为5.4%，这是美联储评级暂时性的飙升，尽管其他人不太确定。策略师们站在鲍威尔一边。他们预计明年通胀将大幅下降。他们的预测在2.5%至3.5%之间，他们认为这对消费者和公司来说是可控的，也是经济快速增长的可接受的副作用。然而，通胀率高于2.5%，加上美联储缩减规模，意味着目前超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>收益投资主管迈克尔·弗雷德里克斯(Michael Fredericks)表示：“我们认为通胀将继续比金融危机以来更高，但一旦许多与重新开放相关的压力开始消散，我们很难看到通胀率远高于2.5%。”贝莱德多资产策略集团。“因此债券收益率确实需要上升，但这将逐渐发生。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比当前水平高出约35个基点（即百分之几个百分点），但低于2021年3月收益率高点时达到的1.75%。该组织表示，到明年，10年期国债收益率可能达到2%。从绝对值来看，这些举措并不是很大，但对债券市场来说意义重大，对股票来说可能更是如此。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会打压股票估值，原因有二。高收益债券提供了与股票的竞争，当以更高的利率贴现时，公司的未来收益在目前毫无价值。尽管如此，2%左右的10年期国债收益率仍不足以将股票估值降至新冠疫情爆发前的水平。即使收益率攀升，市场策略师认为标普500的市盈率仍远高于预期市盈率16倍的30年平均水平。去年秋天，该指数的远期市盈率突破23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要10年期国债收益率保持在2%的范围内，标普500的远期市盈率就应该能够在十几岁左右。除非收益率高得多或其他导致股市下跌的因素带来更大压力，否则不可能回到16倍的长期平均水平。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>表示，如果收益率飙升超过2%或2.25%，投资者可能会开始更严重地质疑股票估值<a href=\"https://laohu8.com/S/STT\">国家</a>Street首席投资组合策略师Gaurav Mallik：“我们已经有一段时间没有看到（10年期国债收益率）超过2%了，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出，股市的估值风险是不对称的：“市盈率不太可能上升，考虑到增长放缓和我们所处的位置，市盈率很有可能下降10%以上。在周期中，”他说</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充道，如果预期市盈率为16至23倍，“你已经处于这个范围的很高端。潜在风险大于回报。”</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>所有六位策略师的预测都包含了一些市盈率倍数的压缩，这对利润增长路径变得更加重要。平均而言，策略师预计，继去年的盈利低迷之后，标普500今年的盈利将增长46%，至204美元左右。随后，2022年可能会上涨9%，达到约222.50美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是2022年联邦企业税率上升。民主党支出和税收计划的细节将在未来几周内制定出来，投资者可以期待听到更多有关潜在增税的消息。几位策略师认为，25%的联邦企业利润税率可能是一个妥协数字，高于2018年以来实施的21%，但低于拜登政府寻求的28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约5%。随着今年秋天民主党和解法案的通过，该指数可能会下跌类似的幅度，但影响应该仅限于最初的调整。与2017年12月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>——一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>抛开这些担忧不谈，投资者不应错过更大的图景：美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。Mallik表示：“周期性上涨和高于趋势的增长将至少持续到2022年，我们希望偏向于具有这种风险的资产。”</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将会火爆。当GDP增长高于平均水平时，价值会战胜增长，周期性会战胜防御性。”—Lori Calvasina，加拿大皇家银行资本市场道富策略师建议在投资组合中增持材料、金融和科技股。这种方法既包括银行和矿业公司等对经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场(RBC Capital Markets)美国股票策略主管洛里·卡尔瓦西纳(Lori Calvasina)同样采取杠铃法，同时投资周期性和成长性。她最喜欢的行业是能源、金融和技术。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>卡尔瓦西纳表示：“金融和能源行业的估值仍然比增长行业（科技或非必需消费品等行业）更具吸引力。”“近期的催化剂是摆脱当前的新冠疫情浪潮……今年和明年我们将迎来经济火爆，传统上，当GDP增长高于平均水平时，价值会跑赢增长，周期性会跑赢防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是关键，尤其是进入2022年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>卡尔瓦西纳表示：“历史上的剧本是，走出衰退后，你往往会看到持续一年左右的低质量优异表现，然后领导力又会恢复到高质量。”“但从低质量回到高质量的转变往往非常坎坷。”</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师青睐对经济敏感的股票和稳定增长的股票（包括科技股）的组合。金融股应该会表现良好，特别是如果债券收益率上升的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管今年夏天具有质量属性的股票表现优于大盘，但根据一家<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析，自去年11月首次报道疫苗正面消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>贝莱德的弗雷德里克斯表示：“我们正在进入周期中期环境，基本经济增长仍然强劲，但势头开始减速。”“我们的研究表明，优质股票在这样的时期表现尤其出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融，包括银行，以及具有这些质量特征的消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>股票策略主管克里斯托弗·哈维(Christopher Harvey)表示，大流行后受益者和防御性敞口的结合才是正确的选择。他构建了一篮子波动性低于平均水平的股票——在今年秋季市场不确定性或压力时期，这些股票应该会跑赢大盘——并且“新冠贝塔值”较高，即对有关大流行的好消息或坏消息的敏感性。一个要求；富国银行的股票分析师必须将这些股票评级为“买入”。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>哈维表示：“近期经济存在不确定性、利率不确定性和新冠病毒风险，一般来说，我们正处于9月份左右的季节性疲软时期。”“如果我们能够平衡低波动性和高Covid贝塔值，我们就可以减轻其中几种催化剂时机即将到来的不确定性和波动性。不过，从长远来看，我们仍然希望[重新开放风险。]”</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的具有高新贝塔值的低波动性股票名单包括苹果(AAPL)、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">IQVIA</a>控股公司（IQV）和马斯科公司（MAS）。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。Invesco KBW银行交易所交易基金(KBWB)提供对美国该行业的广泛投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“我们喜欢估值和信用质量；他们现在被允许回购股票并增加股息，而且新冠贝塔值更高，”哈维说。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>较低的估值意味着市场调整中潜在的下行空间较小。而且，与股市的其他大部分地区相反，更高的利率将成为银行的顺风车，银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。”<a href=\"https://laohu8.com/S/HR\">医疗保健</a>具有防御性和成长性，”威尔逊说。“如今，医疗保健行业每单位增长支付的费用比其他行业低得多。因此，我们认为，当我们担心估值时，它为这个市场提供了良好的平衡。”健康保险公司Humana(HUM)跻身威尔逊“新鲜资金买入名单”股票买入评级<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen的Malik还将目光投向医疗保健领域，以获得相对低估的增长机会，即制药和生物技术领域。她指出了Seagen(SGEN)，该公司专注于肿瘤药物，可能成为制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维(ABBV)，该公司的预期市盈率为8倍，股息收益率为4.7%。其重磅抗炎药修美乐(Humira)的专利即将到期，这让一些投资者望而却步，但马利克相信管理层能够限制损失，并看到这家价值2000亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都过得很艰难。Seagen上周跌超8%，报152美元左右，因有消息称其联合创始人兼首席执行官近期大量抛售股票。在美国食品和药物管理局要求为JAK抑制剂贴上新的警告标签后，ABBVIE周三上涨7%，至112.27美元。JAK抑制剂是一种抗类风湿药物，其中包括一种<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生(JNJ)和思科系统(CSCO)是其他通过A的标普500成员<i>巴伦周刊</i>筛选质量属性。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳定上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点下跌，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2\">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":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130130857","content_text":"What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.\nTailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.\nIn other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”\nThat’s the general consensus among the six market strategists and chief investment officers whomBarron’srecently consulted. All see the S&P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.\nNext year’s gains look muted, as well, relative to recent trends. The group expects the S&P 500 to tack on another 6% in 2022, rising to about 4800.\nWith stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.\nThe stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.\nFed Chairman Jerome Powell has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”\nThe government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.\nThe bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.\nA budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.\nOther politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a Washington shutdown in October.\nFor now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.\nInflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.\n“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”\nThe strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for the bond market—and could be even more so for stocks.\nRising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.\n\nAs long as 10-year Treasury yields stay in the 2% range, the S&P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.\nIf yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says State Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”\n\nWilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says\nIf 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”\nSome P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.\nA potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.\nAn increase of that magnitude would shave about 5% off S&P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a one-time event for the market, some strategists predict.\nThese concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.\n\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n\nThe State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.\nRBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.\n“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”\nBut the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.\n“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”\nA Shopping List for Fall\nMost strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.\n\nAlthough stocks with quality attributes have outperformed the market this summer, according to a BlackRock analysis, the quality factor has lagged since positive vaccine news was first reported last November.\n“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”\nHe recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.\nFor Wells Fargo’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.\n“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”\nHarvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),Bank of America(BAC),Northern Trust(NTRS),Lowe’s(LOW),IQVIA Holdings(IQV), andMasco(MAS).\nOverall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.\n“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.\nCheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.\nHealthcare stocks also have some fans. “Healthcare has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by Morgan Stanley analysts and fitting his macro views.\nNuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.\nMalik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.\nBoth stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of AbbVie’s most promising post-Humira products.\nPfizer(PFE),American Express(AXP),Johnson & Johnson(JNJ), andCisco Systems(CSCO) are other S&P 500 members that pass aBarron’sscreen for quality attributes.\nAfter a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. Just be more selective. And go with quality.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814704228,"gmtCreate":1630883764264,"gmtModify":1631893278073,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/814704228","repostId":"1143325200","repostType":4,"repost":{"id":"1143325200","kind":"news","pubTimestamp":1630882610,"share":"https://www.laohu8.com/m/news/1143325200?lang=zh_CN&edition=full","pubTime":"2021-09-06 06:56","market":"us","language":"en","title":"GameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143325200","media":"Barrons","summary":"U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then feat","content":"<p>U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.</p><p><blockquote>美国股市和债市周一因劳动节休市。假期缩短的一周将发布几个值得注意的公司更新和经济数据。</blockquote></p><p> GameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its&nbsp;$21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle&nbsp;hosts&nbsp;an investor day on Friday.</p><p><blockquote>游戏驿站和Lululemon Athletica将于周三发布季度业绩，国际纸业将于周四发布季度业绩，克罗格将于周五发布季度业绩。Analog Devices刚刚以210亿美元收购Maxim Integrated Products，将于周三举办投资者日。Moderna、丹纳赫和家得宝管理层也将于周四与投资者交谈。最后，雅宝将于周五举办投资者日。</blockquote></p><p> The economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.</p><p><blockquote>本周的经济数据亮点将是周五美国劳工统计局公布的8月份生产者价格指数。经济学家的普遍预期是总体指数月度上涨0.6%，核心PPI上涨0.5%——这还不包括波动更大的食品和能源价格。7月份核心指数和整体指数均上涨1%。8月份消费者价格指数将于下周9月14日公布。</blockquote></p><p> On Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.</p><p><blockquote>周二，美联储将发布最新的褐皮书，其中包含十几个中央银行区的经济、招聘和商业状况的最新信息。欧洲央行也将于周四宣布货币政策决定，但市场普遍预计将把目标利率维持在目前负0.5%的水平。</blockquote></p><p> <b>Monday 9/6</b></p><p><blockquote><b>星期一9/6</b></blockquote></p><p> Stock and fixed-income markets are closed in observance of Labor Day.</p><p><blockquote>股票和固定收益市场因劳动节休市。</blockquote></p><p> <b>Tuesday 9/7</b></p><p><blockquote><b>星期二9/7</b></blockquote></p><p> Casey’s General Stores and Coupa Software announce earnings.</p><p><blockquote>Casey’s General Stores和Coupa Software公布收益。</blockquote></p><p> <b>Wednesday 9/8</b></p><p><blockquote><b>星期三9/8</b></blockquote></p><p> Copart, GameStop, and Lululemon Athletica release quarterly results.</p><p><blockquote>Copart、游戏驿站和Lululemon Athletica发布季度业绩。</blockquote></p><p> Analog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.</p><p><blockquote>ADI公司召开电话会议，讨论其资本配置计划并更新2021财年展望。该公司最近完成了对Maxim Integrated Products的210亿美元收购。</blockquote></p><p> Global Payments, Johnson Controls International, and ResMed hold virtual investor days.</p><p><blockquote>Global Payments、江森自控国际和ResMed举办虚拟投资者日。</blockquote></p><p> The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.</p><p><blockquote>劳工统计局发布职位空缺和劳动力流动调查。普遍估计7月最后一个工作日将有1000万个职位空缺。6月份，有1010万个职位空缺，连续第四个月创下纪录。</blockquote></p><p> The Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.</p><p><blockquote>美联储公布7月份消费者信贷数据。6月份未偿消费者债务总额增加377亿美元，达到创纪录的4.32万亿美元。第二季度，消费信贷经季节调整后的年率增长8.8%，反映了被压抑的需求。</blockquote></p><p> The Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.</p><p><blockquote>美联储今年八次发布褐皮书中的第六次。该报告总结了12个美联储地区当前的经济状况。</blockquote></p><p> <b>Thursday 9/9</b></p><p><blockquote><b>星期四9/9</b></blockquote></p><p> Home Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.</p><p><blockquote>家得宝召开电话会议讨论其ESG战略，由公司首席可持续发展官Ron Jarvis主持。</blockquote></p><p> Moderna hosts its fifth annual R&amp;D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.</p><p><blockquote>Moderna举办第五届年度研发日，讨论公司在研疫苗。首席执行官Stéphane Bancel将是演讲者之一。</blockquote></p><p> Danaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.</p><p><blockquote>丹纳赫召开投资者和分析师会议，由首席执行官Rainer Blair主持。</blockquote></p><p> International Paper, Synchrony Financial, and Willis Towers Watson hold investor days.</p><p><blockquote>国际纸业、同步金融和威利斯韬睿惠悦举办投资者日。</blockquote></p><p> The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.</p><p><blockquote>欧洲中央银行宣布其货币政策决定。预计欧洲央行将维持关键利率在负0.5%不变。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.</p><p><blockquote>劳工部报告了截至9月4日当周的首次申请失业救济人数。8月份，平均每周申请失业救济人数为35.5万人，为疫情爆发以来的最低水平。这也将是联邦强化失业救济金额外发放300美元的最后一周。它们将于9月6日到期。</blockquote></p><p> <b>Friday 9/10</b></p><p><blockquote><b>星期五9/10</b></blockquote></p><p> The BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.</p><p><blockquote>BLS报告8月份生产者价格指数。经济学家预测核心生产者价格指数（不包括波动较大的食品和能源价格）月度上涨0.6%，核心生产者价格指数将上涨0.5%。7月份两者均上涨1%。</blockquote></p><p> Kroger holds a conference calls to discuss earnings.</p><p><blockquote>克罗格评级召开会议讨论收益。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-06 06:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.</p><p><blockquote>美国股市和债市周一因劳动节休市。假期缩短的一周将发布几个值得注意的公司更新和经济数据。</blockquote></p><p> GameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its&nbsp;$21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle&nbsp;hosts&nbsp;an investor day on Friday.</p><p><blockquote>游戏驿站和Lululemon Athletica将于周三发布季度业绩，国际纸业将于周四发布季度业绩，克罗格将于周五发布季度业绩。Analog Devices刚刚以210亿美元收购Maxim Integrated Products，将于周三举办投资者日。Moderna、丹纳赫和家得宝管理层也将于周四与投资者交谈。最后，雅宝将于周五举办投资者日。</blockquote></p><p> The economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.</p><p><blockquote>本周的经济数据亮点将是周五美国劳工统计局公布的8月份生产者价格指数。经济学家的普遍预期是总体指数月度上涨0.6%，核心PPI上涨0.5%——这还不包括波动更大的食品和能源价格。7月份核心指数和整体指数均上涨1%。8月份消费者价格指数将于下周9月14日公布。</blockquote></p><p> On Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.</p><p><blockquote>周二，美联储将发布最新的褐皮书，其中包含十几个中央银行区的经济、招聘和商业状况的最新信息。欧洲央行也将于周四宣布货币政策决定，但市场普遍预计将把目标利率维持在目前负0.5%的水平。</blockquote></p><p> <b>Monday 9/6</b></p><p><blockquote><b>星期一9/6</b></blockquote></p><p> Stock and fixed-income markets are closed in observance of Labor Day.</p><p><blockquote>股票和固定收益市场因劳动节休市。</blockquote></p><p> <b>Tuesday 9/7</b></p><p><blockquote><b>星期二9/7</b></blockquote></p><p> Casey’s General Stores and Coupa Software announce earnings.</p><p><blockquote>Casey’s General Stores和Coupa Software公布收益。</blockquote></p><p> <b>Wednesday 9/8</b></p><p><blockquote><b>星期三9/8</b></blockquote></p><p> Copart, GameStop, and Lululemon Athletica release quarterly results.</p><p><blockquote>Copart、游戏驿站和Lululemon Athletica发布季度业绩。</blockquote></p><p> Analog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.</p><p><blockquote>ADI公司召开电话会议，讨论其资本配置计划并更新2021财年展望。该公司最近完成了对Maxim Integrated Products的210亿美元收购。</blockquote></p><p> Global Payments, Johnson Controls International, and ResMed hold virtual investor days.</p><p><blockquote>Global Payments、江森自控国际和ResMed举办虚拟投资者日。</blockquote></p><p> The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.</p><p><blockquote>劳工统计局发布职位空缺和劳动力流动调查。普遍估计7月最后一个工作日将有1000万个职位空缺。6月份，有1010万个职位空缺，连续第四个月创下纪录。</blockquote></p><p> The Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.</p><p><blockquote>美联储公布7月份消费者信贷数据。6月份未偿消费者债务总额增加377亿美元，达到创纪录的4.32万亿美元。第二季度，消费信贷经季节调整后的年率增长8.8%，反映了被压抑的需求。</blockquote></p><p> The Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.</p><p><blockquote>美联储今年八次发布褐皮书中的第六次。该报告总结了12个美联储地区当前的经济状况。</blockquote></p><p> <b>Thursday 9/9</b></p><p><blockquote><b>星期四9/9</b></blockquote></p><p> Home Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.</p><p><blockquote>家得宝召开电话会议讨论其ESG战略，由公司首席可持续发展官Ron Jarvis主持。</blockquote></p><p> Moderna hosts its fifth annual R&amp;D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.</p><p><blockquote>Moderna举办第五届年度研发日，讨论公司在研疫苗。首席执行官Stéphane Bancel将是演讲者之一。</blockquote></p><p> Danaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.</p><p><blockquote>丹纳赫召开投资者和分析师会议，由首席执行官Rainer Blair主持。</blockquote></p><p> International Paper, Synchrony Financial, and Willis Towers Watson hold investor days.</p><p><blockquote>国际纸业、同步金融和威利斯韬睿惠悦举办投资者日。</blockquote></p><p> The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.</p><p><blockquote>欧洲中央银行宣布其货币政策决定。预计欧洲央行将维持关键利率在负0.5%不变。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.</p><p><blockquote>劳工部报告了截至9月4日当周的首次申请失业救济人数。8月份，平均每周申请失业救济人数为35.5万人，为疫情爆发以来的最低水平。这也将是联邦强化失业救济金额外发放300美元的最后一周。它们将于9月6日到期。</blockquote></p><p> <b>Friday 9/10</b></p><p><blockquote><b>星期五9/10</b></blockquote></p><p> The BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.</p><p><blockquote>BLS报告8月份生产者价格指数。经济学家预测核心生产者价格指数（不包括波动较大的食品和能源价格）月度上涨0.6%，核心生产者价格指数将上涨0.5%。7月份两者均上涨1%。</blockquote></p><p> Kroger holds a conference calls to discuss earnings.</p><p><blockquote>克罗格评级召开会议讨论收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/gamestop-moderna-home-depot-kroger-and-other-stocks-for-investors-to-watch-this-week-51630853023?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","MRNA":"Moderna, Inc.",".DJI":"道琼斯","KR":"克罗格","HD":"家得宝","GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-moderna-home-depot-kroger-and-other-stocks-for-investors-to-watch-this-week-51630853023?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143325200","content_text":"U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.\nGameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its $21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle hosts an investor day on Friday.\nThe economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.\nOn Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.\nMonday 9/6\nStock and fixed-income markets are closed in observance of Labor Day.\nTuesday 9/7\nCasey’s General Stores and Coupa Software announce earnings.\nWednesday 9/8\nCopart, GameStop, and Lululemon Athletica release quarterly results.\nAnalog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.\nGlobal Payments, Johnson Controls International, and ResMed hold virtual investor days.\nThe Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.\nThe Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.\nThe Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.\nThursday 9/9\nHome Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.\nModerna hosts its fifth annual R&D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.\nDanaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.\nInternational Paper, Synchrony Financial, and Willis Towers Watson hold investor days.\nThe European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.\nThe Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.\nFriday 9/10\nThe BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.\nKroger holds a conference calls to discuss earnings.","news_type":1,"symbols_score_info":{"GME":0.9,".IXIC":0.9,"MRNA":0.9,".DJI":0.9,"HD":0.9,".SPX":0.9,"KR":0.9}},"isVote":1,"tweetType":1,"viewCount":595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814628898,"gmtCreate":1630814488914,"gmtModify":1631893278082,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814628898","repostId":"1157895022","repostType":4,"repost":{"id":"1157895022","kind":"news","pubTimestamp":1630810619,"share":"https://www.laohu8.com/m/news/1157895022?lang=zh_CN&edition=full","pubTime":"2021-09-05 10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</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>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</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\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814081982,"gmtCreate":1630727889346,"gmtModify":1631893278086,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584395488031951","idStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like 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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/811116358","repostId":"2163776380","repostType":4,"isVote":1,"tweetType":1,"viewCount":462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":137928434,"gmtCreate":1622287799428,"gmtModify":1634102504705,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/137928434","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":517,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860967794,"gmtCreate":1632124215818,"gmtModify":1632802692174,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860967794","repostId":"1109188181","repostType":4,"repost":{"id":"1109188181","kind":"news","pubTimestamp":1632123243,"share":"https://www.laohu8.com/m/news/1109188181?lang=zh_CN&edition=full","pubTime":"2021-09-20 15:34","market":"us","language":"en","title":"Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109188181","media":"MarketWatch","summary":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four l","content":"<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD和MACD直方图可以提振您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出输赢头寸的区别。MACD（移动平均线收敛发散）是交易者在分析中一贯使用的关键股市指标（与移动平均线和RSI一起）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们讨论一些使用这种功能强大且多功能的仪表的创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定趋势及其相关动量（即方向速度和持续时间）何时结束或开始，或者可能逆转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD是一个“滞后”或“向后看”指标，这意味着它的信号会延迟，但不要让这阻止你。当MACD产生信号时，它通常是重要的，尤其是在周线图上使用时（相对于短线交易者喜欢的日线图）。事实上，MACD时间框架越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为“MACD线”。灰色(或红色)线被称为“信号线”记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，一条横穿图表的水平线称为“零线”（0线），零线的主要作用是提醒你标的价格行为的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的层面上，MACD会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线越过零线时，看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线穿越九日信号线上方时，看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿零线时，看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿九日信号线时，看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九天信号线都朝着同一个方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是可操作的交易。与任何指标一样，也存在错误信号。此外，在投入真钱进行交易之前，您必须确认其他指标。将这些MACD买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数DJIA(-0.48%)或标准普尔500SPX(-0.91%)的MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到主要市场指数的波动性恢复。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD现在对特斯拉有何看法</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>例如，特斯拉TSLA，+0.33%的周线图显示其MACD位于零线上方，MACD线位于信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>基于这一信息，特斯拉股票目前属于短期“强力”买入。如果特斯拉的MACD线跌破其信号线，而两条线都高于零线，则该股将属于“适度”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我与MACD的创始人杰拉尔德·阿佩尔（Gerald Appel）进行了交谈。他告诉我，他在20世纪70年代末通过在打孔机和电子表格中输入数字创造了MACD。个人电脑发明后，他能够使这个过程自动化。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>Appel对MACD变得如此受欢迎表示惊讶。“它之所以有效，是因为它可以适应任何时间范围，”他说。“您可以通过使用基于月度数据的MACD模式来很好地了解市场的主要趋势。您也可以在五分钟图上使用它。”</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说：“由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。当越来越多的股票下跌时，市场平均线也有可能继续向上漂移。”</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>阿佩尔警告说，你必须根据其他指标确认MACD信号。“没有一个指标是绝对正确的，”他说。“你可能会看到市场上涨，而MACD转向下跌。也许你认为这是卖出信号。嗯，可能不是。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>阿佩尔补充说，他喜欢同时处理不同的MACD时间框架。例如，如果短期MACD与中期MACD一起出现，他就更有信心信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD最强大（但经常被忽视）的补充之一是MACD直方图。该振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个独立的程序，应该可以在您的图表包中找到。使用此功能的交易者通常同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果棒线移动到零线以上，这意味着标的股票（或指数）正在获得力量，即动量。如果棒线移动到零线以下，股票或指数正在失去力量。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到动量总是先于价格变化。这就是MACD和MACD直方图如此有价值的原因。这两个指标都可以检测动能何时减弱。如果直方图柱移动到零线上方，这也可能是看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果MACD直方图条变成较浅的颜色，这意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图柱跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>危险信号</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD转低，这是一个危险信号。此外，如果您看到MACD直方图改变颜色并且棒线变短，则确认动量正在减弱（但请根据RSI或随机指标确认这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过MACD或MACD直方图，请尝试一下。对任何已经触底并正在走高的股票使用这些衡量标准。他们将帮助确认股票是否有腿，或者只是给交易者一个头假的。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere（michaelsincere.com）是《了解期权》和《了解股票》的作者。</i></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>Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</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\">\nSavvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这2个内幕提示来了解何时买入和卖出</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-20 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD和MACD直方图可以提振您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出输赢头寸的区别。MACD（移动平均线收敛发散）是交易者在分析中一贯使用的关键股市指标（与移动平均线和RSI一起）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们讨论一些使用这种功能强大且多功能的仪表的创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定趋势及其相关动量（即方向速度和持续时间）何时结束或开始，或者可能逆转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD是一个“滞后”或“向后看”指标，这意味着它的信号会延迟，但不要让这阻止你。当MACD产生信号时，它通常是重要的，尤其是在周线图上使用时（相对于短线交易者喜欢的日线图）。事实上，MACD时间框架越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为“MACD线”。灰色(或红色)线被称为“信号线”记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，一条横穿图表的水平线称为“零线”（0线），零线的主要作用是提醒你标的价格行为的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的层面上，MACD会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线越过零线时，看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当MACD线穿越九日信号线上方时，看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿零线时，看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>销售：</b>当MACD线下穿九日信号线时，看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九天信号线都朝着同一个方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是可操作的交易。与任何指标一样，也存在错误信号。此外，在投入真钱进行交易之前，您必须确认其他指标。将这些MACD买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数DJIA(-0.48%)或标准普尔500SPX(-0.91%)的MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到主要市场指数的波动性恢复。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD现在对特斯拉有何看法</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>例如，特斯拉TSLA，+0.33%的周线图显示其MACD位于零线上方，MACD线位于信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>基于这一信息，特斯拉股票目前属于短期“强力”买入。如果特斯拉的MACD线跌破其信号线，而两条线都高于零线，则该股将属于“适度”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我与MACD的创始人杰拉尔德·阿佩尔（Gerald Appel）进行了交谈。他告诉我，他在20世纪70年代末通过在打孔机和电子表格中输入数字创造了MACD。个人电脑发明后，他能够使这个过程自动化。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>Appel对MACD变得如此受欢迎表示惊讶。“它之所以有效，是因为它可以适应任何时间范围，”他说。“您可以通过使用基于月度数据的MACD模式来很好地了解市场的主要趋势。您也可以在五分钟图上使用它。”</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说：“由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。当越来越多的股票下跌时，市场平均线也有可能继续向上漂移。”</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>阿佩尔警告说，你必须根据其他指标确认MACD信号。“没有一个指标是绝对正确的，”他说。“你可能会看到市场上涨，而MACD转向下跌。也许你认为这是卖出信号。嗯，可能不是。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>阿佩尔补充说，他喜欢同时处理不同的MACD时间框架。例如，如果短期MACD与中期MACD一起出现，他就更有信心信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD最强大（但经常被忽视）的补充之一是MACD直方图。该振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个独立的程序，应该可以在您的图表包中找到。使用此功能的交易者通常同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果棒线移动到零线以上，这意味着标的股票（或指数）正在获得力量，即动量。如果棒线移动到零线以下，股票或指数正在失去力量。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到动量总是先于价格变化。这就是MACD和MACD直方图如此有价值的原因。这两个指标都可以检测动能何时减弱。如果直方图柱移动到零线上方，这也可能是看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果MACD直方图条变成较浅的颜色，这意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图柱跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>危险信号</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD转低，这是一个危险信号。此外，如果您看到MACD直方图改变颜色并且棒线变短，则确认动量正在减弱（但请根据RSI或随机指标确认这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过MACD或MACD直方图，请尝试一下。对任何已经触底并正在走高的股票使用这些衡量标准。他们将帮助确认股票是否有腿，或者只是给交易者一个头假的。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere（michaelsincere.com）是《了解期权》和《了解股票》的作者。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109188181","content_text":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.\nLet’s discuss a number of creative ways to use this powerful and versatile gauge.\nMACD, introduced in the late 1970s, is a trend-following momentum indicator.  It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.\nBe aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.\nWhen you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.\nIn addition, a horizontal line runs across the chart called the “zero line” (0 line).  The main function of the zero line is to alert you to the primary trend of the underlying price action.\nFour simple trading signals\nAt its most basic level, MACD generates four signals:\nBuy:When the MACD line crosses above the zero line, it’s bullish.\nBuy:When the MACD line crosses above the nine-day signal line, it’s bullish.\nSell:When the MACD line crosses below the zero line, it’s bearish.\nSell:When the MACD line crosses below the nine-day signal line, it’s bearish.\nNote: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.\nKeep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.\nAnother limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.\nWhat MACD says about Tesla now\nFor example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.\nBased on this information, Tesla stock currently is a short-term “strong” buy. If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.\nA few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.\nAppel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”\nMACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”\nAppel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”\nAppel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.\nThe MACD-Histogram\nOne of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package. Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.\nThe histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.\nMany beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.\nHistogram signals\n\nIf the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.\n\n\nAs mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.\n\nRed flags\nIf you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).\nIf you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.\nMichael Sincere (michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2874,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186006851,"gmtCreate":1623464132873,"gmtModify":1634032844246,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/186006851","repostId":"2142204074","repostType":4,"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890435532,"gmtCreate":1628127648026,"gmtModify":1633753331406,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/890435532","repostId":"2157483930","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180866328,"gmtCreate":1623198796364,"gmtModify":1634035949036,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"like and comment pls","listText":"like and comment pls","text":"like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/180866328","repostId":"2141126527","repostType":4,"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889658042,"gmtCreate":1631147110486,"gmtModify":1631890796415,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/889658042","repostId":"2166392072","repostType":4,"isVote":1,"tweetType":1,"viewCount":3040,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173146469,"gmtCreate":1626650196051,"gmtModify":1633925354033,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/173146469","repostId":"1139907709","repostType":4,"repost":{"id":"1139907709","kind":"news","pubTimestamp":1626568617,"share":"https://www.laohu8.com/m/news/1139907709?lang=zh_CN&edition=full","pubTime":"2021-07-18 08:36","market":"us","language":"en","title":"Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街罪与罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139907709","media":"Benzinga","summary":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Q","content":"<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一位名叫托马斯·F·奎因的美国侨民，罪名是他策划了一项全球证券计划，诈骗投资者5亿美元。作为...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">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>Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街罪与罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街罪与罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-07-18 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一位名叫托马斯·F·奎因的美国侨民，罪名是他策划了一项全球证券计划，诈骗投资者5亿美元。作为...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">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/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">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":{},"source_url":"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139907709","content_text":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.\nIllusory Assets For Sale:Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.\nQuinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.\nQuinn opted to go into business for himself, starting a brokerage firm in New York called Thomas, Williams & Lee.The main focus of this firm became the promotion of Kent Industries,a company that claimed to own Florida property valued at $2 million.\nThere was a slight problem — Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).\nLong story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”\nThe U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.\nA Job With The Mob:Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”\nQuinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,Sundance Gold Mining and Aquarius Gold Exploration, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the Genovese crime family.\nThe SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.\nThree years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.\nThe FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.\nRealizing that he wore out his welcome in his home country, Quinn and his common-law wife Rochelle Rothfleisch decided to relocate to France and to up his game to an unprecedented operation.\nBoiler Room Follies:The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.\nQuinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.\nEach office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.\nThe investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.\nQuinn’s henchmen would telephone the investors — nearly all of whom were novices to investing — and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.\nQuinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.\nA Temporary Setback: In 1988, Quinn’s arrest in France saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.\nFor starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up. Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered Bank of Credit and Commerce International in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.\nAlso, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.\nThe SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C. with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.\nIn France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.\nHe came to trial in 1991 and was only sentenced to four years in prison, but his sentence was reduced to include time served and he was extradited to Switzerland.\nHis Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.\nAn Eventual Stumble:One of Quinn’s neighbors in Greenwich wasMartin Frankel,a financier with his own addiction to swindling.\nIn 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies — but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.\nFrankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.\nFor most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.\nIn 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)\nIn November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.\nQuinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.\nWhat became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.\nOne information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.\nQuinn rarely spoke to anyone about his criminal activities. During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.\n\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170889312,"gmtCreate":1626419616236,"gmtModify":1633926903809,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/170889312","repostId":"2151573133","repostType":4,"isVote":1,"tweetType":1,"viewCount":616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144549131,"gmtCreate":1626307633023,"gmtModify":1633928088087,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/144549131","repostId":"1109835939","repostType":4,"isVote":1,"tweetType":1,"viewCount":721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814704228,"gmtCreate":1630883764264,"gmtModify":1631893278073,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/814704228","repostId":"1143325200","repostType":4,"repost":{"id":"1143325200","kind":"news","pubTimestamp":1630882610,"share":"https://www.laohu8.com/m/news/1143325200?lang=zh_CN&edition=full","pubTime":"2021-09-06 06:56","market":"us","language":"en","title":"GameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143325200","media":"Barrons","summary":"U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then feat","content":"<p>U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.</p><p><blockquote>美国股市和债市周一因劳动节休市。假期缩短的一周将发布几个值得注意的公司更新和经济数据。</blockquote></p><p> GameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its&nbsp;$21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle&nbsp;hosts&nbsp;an investor day on Friday.</p><p><blockquote>游戏驿站和Lululemon Athletica将于周三发布季度业绩，国际纸业将于周四发布季度业绩，克罗格将于周五发布季度业绩。Analog Devices刚刚以210亿美元收购Maxim Integrated Products，将于周三举办投资者日。Moderna、丹纳赫和家得宝管理层也将于周四与投资者交谈。最后，雅宝将于周五举办投资者日。</blockquote></p><p> The economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.</p><p><blockquote>本周的经济数据亮点将是周五美国劳工统计局公布的8月份生产者价格指数。经济学家的普遍预期是总体指数月度上涨0.6%，核心PPI上涨0.5%——这还不包括波动更大的食品和能源价格。7月份核心指数和整体指数均上涨1%。8月份消费者价格指数将于下周9月14日公布。</blockquote></p><p> On Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.</p><p><blockquote>周二，美联储将发布最新的褐皮书，其中包含十几个中央银行区的经济、招聘和商业状况的最新信息。欧洲央行也将于周四宣布货币政策决定，但市场普遍预计将把目标利率维持在目前负0.5%的水平。</blockquote></p><p> <b>Monday 9/6</b></p><p><blockquote><b>星期一9/6</b></blockquote></p><p> Stock and fixed-income markets are closed in observance of Labor Day.</p><p><blockquote>股票和固定收益市场因劳动节休市。</blockquote></p><p> <b>Tuesday 9/7</b></p><p><blockquote><b>星期二9/7</b></blockquote></p><p> Casey’s General Stores and Coupa Software announce earnings.</p><p><blockquote>Casey’s General Stores和Coupa Software公布收益。</blockquote></p><p> <b>Wednesday 9/8</b></p><p><blockquote><b>星期三9/8</b></blockquote></p><p> Copart, GameStop, and Lululemon Athletica release quarterly results.</p><p><blockquote>Copart、游戏驿站和Lululemon Athletica发布季度业绩。</blockquote></p><p> Analog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.</p><p><blockquote>ADI公司召开电话会议，讨论其资本配置计划并更新2021财年展望。该公司最近完成了对Maxim Integrated Products的210亿美元收购。</blockquote></p><p> Global Payments, Johnson Controls International, and ResMed hold virtual investor days.</p><p><blockquote>Global Payments、江森自控国际和ResMed举办虚拟投资者日。</blockquote></p><p> The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.</p><p><blockquote>劳工统计局发布职位空缺和劳动力流动调查。普遍估计7月最后一个工作日将有1000万个职位空缺。6月份，有1010万个职位空缺，连续第四个月创下纪录。</blockquote></p><p> The Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.</p><p><blockquote>美联储公布7月份消费者信贷数据。6月份未偿消费者债务总额增加377亿美元，达到创纪录的4.32万亿美元。第二季度，消费信贷经季节调整后的年率增长8.8%，反映了被压抑的需求。</blockquote></p><p> The Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.</p><p><blockquote>美联储今年八次发布褐皮书中的第六次。该报告总结了12个美联储地区当前的经济状况。</blockquote></p><p> <b>Thursday 9/9</b></p><p><blockquote><b>星期四9/9</b></blockquote></p><p> Home Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.</p><p><blockquote>家得宝召开电话会议讨论其ESG战略，由公司首席可持续发展官Ron Jarvis主持。</blockquote></p><p> Moderna hosts its fifth annual R&amp;D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.</p><p><blockquote>Moderna举办第五届年度研发日，讨论公司在研疫苗。首席执行官Stéphane Bancel将是演讲者之一。</blockquote></p><p> Danaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.</p><p><blockquote>丹纳赫召开投资者和分析师会议，由首席执行官Rainer Blair主持。</blockquote></p><p> International Paper, Synchrony Financial, and Willis Towers Watson hold investor days.</p><p><blockquote>国际纸业、同步金融和威利斯韬睿惠悦举办投资者日。</blockquote></p><p> The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.</p><p><blockquote>欧洲中央银行宣布其货币政策决定。预计欧洲央行将维持关键利率在负0.5%不变。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.</p><p><blockquote>劳工部报告了截至9月4日当周的首次申请失业救济人数。8月份，平均每周申请失业救济人数为35.5万人，为疫情爆发以来的最低水平。这也将是联邦强化失业救济金额外发放300美元的最后一周。它们将于9月6日到期。</blockquote></p><p> <b>Friday 9/10</b></p><p><blockquote><b>星期五9/10</b></blockquote></p><p> The BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.</p><p><blockquote>BLS报告8月份生产者价格指数。经济学家预测核心生产者价格指数（不包括波动较大的食品和能源价格）月度上涨0.6%，核心生产者价格指数将上涨0.5%。7月份两者均上涨1%。</blockquote></p><p> Kroger holds a conference calls to discuss earnings.</p><p><blockquote>克罗格评级召开会议讨论收益。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop, Moderna, Home Depot, Kroger, and Other Stocks for Investors to Watch This Week<blockquote>游戏驿站、Moderna、家得宝、克罗格等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-06 06:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.</p><p><blockquote>美国股市和债市周一因劳动节休市。假期缩短的一周将发布几个值得注意的公司更新和经济数据。</blockquote></p><p> GameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its&nbsp;$21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle&nbsp;hosts&nbsp;an investor day on Friday.</p><p><blockquote>游戏驿站和Lululemon Athletica将于周三发布季度业绩，国际纸业将于周四发布季度业绩，克罗格将于周五发布季度业绩。Analog Devices刚刚以210亿美元收购Maxim Integrated Products，将于周三举办投资者日。Moderna、丹纳赫和家得宝管理层也将于周四与投资者交谈。最后，雅宝将于周五举办投资者日。</blockquote></p><p> The economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.</p><p><blockquote>本周的经济数据亮点将是周五美国劳工统计局公布的8月份生产者价格指数。经济学家的普遍预期是总体指数月度上涨0.6%，核心PPI上涨0.5%——这还不包括波动更大的食品和能源价格。7月份核心指数和整体指数均上涨1%。8月份消费者价格指数将于下周9月14日公布。</blockquote></p><p> On Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.</p><p><blockquote>周二，美联储将发布最新的褐皮书，其中包含十几个中央银行区的经济、招聘和商业状况的最新信息。欧洲央行也将于周四宣布货币政策决定，但市场普遍预计将把目标利率维持在目前负0.5%的水平。</blockquote></p><p> <b>Monday 9/6</b></p><p><blockquote><b>星期一9/6</b></blockquote></p><p> Stock and fixed-income markets are closed in observance of Labor Day.</p><p><blockquote>股票和固定收益市场因劳动节休市。</blockquote></p><p> <b>Tuesday 9/7</b></p><p><blockquote><b>星期二9/7</b></blockquote></p><p> Casey’s General Stores and Coupa Software announce earnings.</p><p><blockquote>Casey’s General Stores和Coupa Software公布收益。</blockquote></p><p> <b>Wednesday 9/8</b></p><p><blockquote><b>星期三9/8</b></blockquote></p><p> Copart, GameStop, and Lululemon Athletica release quarterly results.</p><p><blockquote>Copart、游戏驿站和Lululemon Athletica发布季度业绩。</blockquote></p><p> Analog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.</p><p><blockquote>ADI公司召开电话会议，讨论其资本配置计划并更新2021财年展望。该公司最近完成了对Maxim Integrated Products的210亿美元收购。</blockquote></p><p> Global Payments, Johnson Controls International, and ResMed hold virtual investor days.</p><p><blockquote>Global Payments、江森自控国际和ResMed举办虚拟投资者日。</blockquote></p><p> The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.</p><p><blockquote>劳工统计局发布职位空缺和劳动力流动调查。普遍估计7月最后一个工作日将有1000万个职位空缺。6月份，有1010万个职位空缺，连续第四个月创下纪录。</blockquote></p><p> The Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.</p><p><blockquote>美联储公布7月份消费者信贷数据。6月份未偿消费者债务总额增加377亿美元，达到创纪录的4.32万亿美元。第二季度，消费信贷经季节调整后的年率增长8.8%，反映了被压抑的需求。</blockquote></p><p> The Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.</p><p><blockquote>美联储今年八次发布褐皮书中的第六次。该报告总结了12个美联储地区当前的经济状况。</blockquote></p><p> <b>Thursday 9/9</b></p><p><blockquote><b>星期四9/9</b></blockquote></p><p> Home Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.</p><p><blockquote>家得宝召开电话会议讨论其ESG战略，由公司首席可持续发展官Ron Jarvis主持。</blockquote></p><p> Moderna hosts its fifth annual R&amp;D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.</p><p><blockquote>Moderna举办第五届年度研发日，讨论公司在研疫苗。首席执行官Stéphane Bancel将是演讲者之一。</blockquote></p><p> Danaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.</p><p><blockquote>丹纳赫召开投资者和分析师会议，由首席执行官Rainer Blair主持。</blockquote></p><p> International Paper, Synchrony Financial, and Willis Towers Watson hold investor days.</p><p><blockquote>国际纸业、同步金融和威利斯韬睿惠悦举办投资者日。</blockquote></p><p> The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.</p><p><blockquote>欧洲中央银行宣布其货币政策决定。预计欧洲央行将维持关键利率在负0.5%不变。</blockquote></p><p> The Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.</p><p><blockquote>劳工部报告了截至9月4日当周的首次申请失业救济人数。8月份，平均每周申请失业救济人数为35.5万人，为疫情爆发以来的最低水平。这也将是联邦强化失业救济金额外发放300美元的最后一周。它们将于9月6日到期。</blockquote></p><p> <b>Friday 9/10</b></p><p><blockquote><b>星期五9/10</b></blockquote></p><p> The BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.</p><p><blockquote>BLS报告8月份生产者价格指数。经济学家预测核心生产者价格指数（不包括波动较大的食品和能源价格）月度上涨0.6%，核心生产者价格指数将上涨0.5%。7月份两者均上涨1%。</blockquote></p><p> Kroger holds a conference calls to discuss earnings.</p><p><blockquote>克罗格评级召开会议讨论收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/gamestop-moderna-home-depot-kroger-and-other-stocks-for-investors-to-watch-this-week-51630853023?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","MRNA":"Moderna, Inc.",".DJI":"道琼斯","KR":"克罗格","HD":"家得宝","GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-moderna-home-depot-kroger-and-other-stocks-for-investors-to-watch-this-week-51630853023?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143325200","content_text":"U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.\nGameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its $21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle hosts an investor day on Friday.\nThe economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.\nOn Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.\nMonday 9/6\nStock and fixed-income markets are closed in observance of Labor Day.\nTuesday 9/7\nCasey’s General Stores and Coupa Software announce earnings.\nWednesday 9/8\nCopart, GameStop, and Lululemon Athletica release quarterly results.\nAnalog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.\nGlobal Payments, Johnson Controls International, and ResMed hold virtual investor days.\nThe Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.\nThe Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.\nThe Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.\nThursday 9/9\nHome Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.\nModerna hosts its fifth annual R&D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.\nDanaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.\nInternational Paper, Synchrony Financial, and Willis Towers Watson hold investor days.\nThe European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.\nThe Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.\nFriday 9/10\nThe BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.\nKroger holds a conference calls to discuss earnings.","news_type":1,"symbols_score_info":{"GME":0.9,".IXIC":0.9,"MRNA":0.9,".DJI":0.9,"HD":0.9,".SPX":0.9,"KR":0.9}},"isVote":1,"tweetType":1,"viewCount":595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836721036,"gmtCreate":1629526675925,"gmtModify":1633684176008,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Ike pls","listText":"Ike pls","text":"Ike pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/836721036","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</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>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</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\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ON":"安森美半导体","SOXX":"iShares费城交易所半导体ETF","TSM":"台积电","ASML":"阿斯麦","AAPL":"苹果","AMZN":"亚马逊","QCOM":"高通","SNPS":"新思科技","SSNLF":"三星电子","GOOG":"谷歌","GOOGL":"谷歌A","CDNS":"铿腾电子","NVDA":"英伟达"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"TSM":0.9,"GOOGL":0.9,"ON":0.9,"SSNLF":0.9,"QCOM":0.9,"NVDA":0.9,"ASML":0.9,"SOXX":0.9,"CDNS":0.9,"AAPL":0.9,"AMZN":0.9,"SNPS":0.9}},"isVote":1,"tweetType":1,"viewCount":472,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816959869,"gmtCreate":1630461972451,"gmtModify":1631893278089,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/816959869","repostId":"1188002565","repostType":4,"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165672735,"gmtCreate":1624142746627,"gmtModify":1634010424996,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/165672735","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836135313,"gmtCreate":1629463572632,"gmtModify":1633684677056,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/836135313","repostId":"1180862486","repostType":4,"repost":{"id":"1180862486","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":1629460028,"share":"https://www.laohu8.com/m/news/1180862486?lang=zh_CN&edition=full","pubTime":"2021-08-20 19:47","market":"us","language":"en","title":"Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180862486","media":"Tiger Newspress","summary":"(Aug 20) U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and t","content":"<p>(Aug 20)&nbsp;U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&amp;P 500 on course for their worst week since mid-June.</p><p><blockquote>（8月20日）美国。股指期货周五下跌，因对经济复苏放缓和可能缩减货币刺激的担忧损害了与经济相关的板块，并使道指和标普500走上了自6月中旬以来最糟糕的一周。</blockquote></p><p> At 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&amp;P 500 E-minis were down&nbsp;16.5 points, or 0.37% and Nasdaq 100 E-minis were&nbsp;down&nbsp;24 points, or 0.16%.</p><p><blockquote>截至美国东部时间上午07:52，道琼斯指数下跌139点，跌幅0.40%，标普500指数下跌16.5点，跌幅0.37%，纳斯达克100指数下跌24点，跌幅0.16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c1746670a754aa5714712ad089963b51\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> 1)&nbsp;<a href=\"https://laohu8.com/S/DE\">John Deere</a> – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.</p><p><blockquote>1) <a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>-这家重型设备制造商公布的季度收益为每股5.32美元，而市场普遍预期为4.58美元，其收入也超出了预期。Deere在盘前交易中上涨1.1%，由于农业设备需求强劲，该公司还上调了全年盈利预期。</blockquote></p><p> 2)&nbsp;<a href=\"https://laohu8.com/S/FL\">Foot Locker</a>&nbsp;– Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.</p><p><blockquote>2) <a href=\"https://laohu8.com/S/FL\">脚锁</a>-运动鞋和服装制造商Foot Locker公布好于预期的第二季度业绩后，该公司股价在盘前飙升6.2%。Foot Locker调整后每股收益为2.21美元，市场普遍预期为1.01美元，可比商店销售额增长6.9%。分析师此前预计公司销售额将略有下降。</blockquote></p><p> 3)&nbsp;<a href=\"https://laohu8.com/S/BKE\">Buckle</a> – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.</p><p><blockquote>3) <a href=\"https://laohu8.com/S/BKE\">扣</a>-这家时尚配饰零售商超出预期18美分，季度收益为每股1.04美元，收入高于预期，因为该公司受益于更多的面对面购物。该股在盘前交易中上涨4.6%。</blockquote></p><p> 4)&nbsp;<a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a> – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.</p><p><blockquote>4) <a href=\"https://laohu8.com/S/SPOT\">Spotify技术有限公司。</a>–这家音乐流媒体服务公司宣布其董事会批准了10亿美元的股票回购。首席财务官Paul Vogel表示，此举表明了公司对其业务和长期增长机会的信心。Spotify盘前上涨1.1%。</blockquote></p><p> 5)&nbsp;<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a> – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.</p><p><blockquote>5) <a href=\"https://laohu8.com/S/AMAT\">应用材料</a>-这家半导体制造设备制造商超出预期13美分，调整后季度利润为每股1.90美元，收入也超出分析师预测。它还给出了好于预期的前景，但应用材料公司股价在盘前交易中下跌1.3%。</blockquote></p><p> 6)&nbsp;<a href=\"https://laohu8.com/S/ROST\">Ross</a> – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.</p><p><blockquote>6) <a href=\"https://laohu8.com/S/ROST\">罗斯</a>-这家折扣零售商报告季度利润为每股1.39美元，超出市场普遍预期的98美分，收入也好于预期。然而，其本季度和全年盈利前景低于分析师预测，该股在盘前下跌4%。</blockquote></p><p> 7)&nbsp;<a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.</p><p><blockquote>7) <a href=\"https://laohu8.com/S/JNJ\">强生公司</a>–首席执行官Alex Gorsky于1月3日宣布计划辞职，由公司资深人士Joaquin Duato接任，Gorsky担任执行董事长。</blockquote></p><p> 8)&nbsp;<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a> – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.</p><p><blockquote>8) <a href=\"https://laohu8.com/S/RIDE\">洛兹敦汽车公司。</a>–这家电动汽车制造商的股价在盘前上涨2.1%，收复了周四9.5%跌幅的一小部分，该跌幅导致该股跌至上市以来的最低水平。这发生在仅持续10分钟的年度股东大会之后。</blockquote></p><p> 9)&nbsp;<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.</p><p><blockquote>9) <a href=\"https://laohu8.com/S/ADBE\">土坯</a>–该软件制造商宣布以12.75亿美元现金收购基于云的视频协作平台Frame.io的交易。此次收购将用于扩展Adobe Create Cloud软件套件的功能。</blockquote></p><p> 10)&nbsp;<a href=\"https://laohu8.com/S/WOOF\">Petco Health and Wellness Company, Inc.</a> – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.</p><p><blockquote>10) <a href=\"https://laohu8.com/S/WOOF\">Petco健康和保健公司。</a>–Petco盘前上涨2.1%，周四上涨3.6%，瑞士信贷将这家宠物产品零售商的股票评级从“中性”上调至“跑赢大盘”。瑞士信贷表示，在Petco发布乐观的财报后，该公司对该公司的业务前景更加乐观。</blockquote></p><p> 11)&nbsp;<a href=\"https://laohu8.com/S/MOS\">Mosaic</a> – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.</p><p><blockquote>11) <a href=\"https://laohu8.com/S/MOS\">马赛克</a>-基于化肥价格上涨的预期收益，汇丰银行将该化肥生产商的评级从“持有”上调至“买入”。</blockquote></p><p></p><p> <b>In FX,</b>the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.</p><p><blockquote><b>在FX中，</b>由于风险基调仍然倾向于谨慎/避险，该指数在FOMC会议后继续上涨。隔夜，由于欧洲情绪在早盘交易中受到影响，DXY在93.500点触底，然后最多升至93.684点。从技术角度来看，该指数关注93.900关口附近的阻力位——该关口在2020年第三季度和第四季度多次充当上限。在此之上，突破94.000心理关口可能会为94.300（2020年11月4日高点）、94.500附近的阻力打开大门，随后是94.650和94.807的100和200 WMA——尽管这些还有一段路要走。下行方面，昨日低点为93.214，心理低点为93.000，而21日均线(92.674)和50日均线(92.377)位于下方。未来，国家日历将是空的，但价格走势可能会由风险基调决定。顺便说一句，美联储主席鲍威尔将于8月27日英国夏令时15:00/美国东部时间10:00在杰克逊霍尔研讨会上就经济前景发表讲话。</blockquote></p><p> <b>In commodities,</b>WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.</p><p><blockquote><b>在大宗商品中，</b>由于对COVID的持续担忧以及市场的谨慎基调，WTI和布伦特原油近月期货再次走软。在前者方面，隔夜交易中，新西兰全国范围内的封锁延长，澳大利亚悉尼的限制延长至9月底。除此之外，该综合体和整个市场的消息一直很平静——在缺乏催化剂的情况下，情绪和达美航空的困境可能会优先。WTI原油价格回到63美元/桶（相对于64.04美元/桶的高点），布伦特原油价格回到66美元/桶（相对于66.93美元/桶的高点）。在其他地方，现货黄金和白银各不相同，但在更大的范围内分别保持在1775美元/盎司以上和23美元/盎司以上。与此同时，基本金属从昨日的剧烈抛售中温和反弹，但基准LME铜在找到上限后仍低于9000/吨。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Opens Friday<blockquote>周五美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-20 19:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 20)&nbsp;U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&amp;P 500 on course for their worst week since mid-June.</p><p><blockquote>（8月20日）美国。股指期货周五下跌，因对经济复苏放缓和可能缩减货币刺激的担忧损害了与经济相关的板块，并使道指和标普500走上了自6月中旬以来最糟糕的一周。</blockquote></p><p> At 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&amp;P 500 E-minis were down&nbsp;16.5 points, or 0.37% and Nasdaq 100 E-minis were&nbsp;down&nbsp;24 points, or 0.16%.</p><p><blockquote>截至美国东部时间上午07:52，道琼斯指数下跌139点，跌幅0.40%，标普500指数下跌16.5点，跌幅0.37%，纳斯达克100指数下跌24点，跌幅0.16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c1746670a754aa5714712ad089963b51\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> 1)&nbsp;<a href=\"https://laohu8.com/S/DE\">John Deere</a> – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.</p><p><blockquote>1) <a href=\"https://laohu8.com/S/DE\">约翰·Deere</a>-这家重型设备制造商公布的季度收益为每股5.32美元，而市场普遍预期为4.58美元，其收入也超出了预期。Deere在盘前交易中上涨1.1%，由于农业设备需求强劲，该公司还上调了全年盈利预期。</blockquote></p><p> 2)&nbsp;<a href=\"https://laohu8.com/S/FL\">Foot Locker</a>&nbsp;– Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.</p><p><blockquote>2) <a href=\"https://laohu8.com/S/FL\">脚锁</a>-运动鞋和服装制造商Foot Locker公布好于预期的第二季度业绩后，该公司股价在盘前飙升6.2%。Foot Locker调整后每股收益为2.21美元，市场普遍预期为1.01美元，可比商店销售额增长6.9%。分析师此前预计公司销售额将略有下降。</blockquote></p><p> 3)&nbsp;<a href=\"https://laohu8.com/S/BKE\">Buckle</a> – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.</p><p><blockquote>3) <a href=\"https://laohu8.com/S/BKE\">扣</a>-这家时尚配饰零售商超出预期18美分，季度收益为每股1.04美元，收入高于预期，因为该公司受益于更多的面对面购物。该股在盘前交易中上涨4.6%。</blockquote></p><p> 4)&nbsp;<a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a> – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.</p><p><blockquote>4) <a href=\"https://laohu8.com/S/SPOT\">Spotify技术有限公司。</a>–这家音乐流媒体服务公司宣布其董事会批准了10亿美元的股票回购。首席财务官Paul Vogel表示，此举表明了公司对其业务和长期增长机会的信心。Spotify盘前上涨1.1%。</blockquote></p><p> 5)&nbsp;<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a> – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.</p><p><blockquote>5) <a href=\"https://laohu8.com/S/AMAT\">应用材料</a>-这家半导体制造设备制造商超出预期13美分，调整后季度利润为每股1.90美元，收入也超出分析师预测。它还给出了好于预期的前景，但应用材料公司股价在盘前交易中下跌1.3%。</blockquote></p><p> 6)&nbsp;<a href=\"https://laohu8.com/S/ROST\">Ross</a> – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.</p><p><blockquote>6) <a href=\"https://laohu8.com/S/ROST\">罗斯</a>-这家折扣零售商报告季度利润为每股1.39美元，超出市场普遍预期的98美分，收入也好于预期。然而，其本季度和全年盈利前景低于分析师预测，该股在盘前下跌4%。</blockquote></p><p> 7)&nbsp;<a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.</p><p><blockquote>7) <a href=\"https://laohu8.com/S/JNJ\">强生公司</a>–首席执行官Alex Gorsky于1月3日宣布计划辞职，由公司资深人士Joaquin Duato接任，Gorsky担任执行董事长。</blockquote></p><p> 8)&nbsp;<a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a> – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.</p><p><blockquote>8) <a href=\"https://laohu8.com/S/RIDE\">洛兹敦汽车公司。</a>–这家电动汽车制造商的股价在盘前上涨2.1%，收复了周四9.5%跌幅的一小部分，该跌幅导致该股跌至上市以来的最低水平。这发生在仅持续10分钟的年度股东大会之后。</blockquote></p><p> 9)&nbsp;<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.</p><p><blockquote>9) <a href=\"https://laohu8.com/S/ADBE\">土坯</a>–该软件制造商宣布以12.75亿美元现金收购基于云的视频协作平台Frame.io的交易。此次收购将用于扩展Adobe Create Cloud软件套件的功能。</blockquote></p><p> 10)&nbsp;<a href=\"https://laohu8.com/S/WOOF\">Petco Health and Wellness Company, Inc.</a> – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.</p><p><blockquote>10) <a href=\"https://laohu8.com/S/WOOF\">Petco健康和保健公司。</a>–Petco盘前上涨2.1%，周四上涨3.6%，瑞士信贷将这家宠物产品零售商的股票评级从“中性”上调至“跑赢大盘”。瑞士信贷表示，在Petco发布乐观的财报后，该公司对该公司的业务前景更加乐观。</blockquote></p><p> 11)&nbsp;<a href=\"https://laohu8.com/S/MOS\">Mosaic</a> – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.</p><p><blockquote>11) <a href=\"https://laohu8.com/S/MOS\">马赛克</a>-基于化肥价格上涨的预期收益，汇丰银行将该化肥生产商的评级从“持有”上调至“买入”。</blockquote></p><p></p><p> <b>In FX,</b>the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.</p><p><blockquote><b>在FX中，</b>由于风险基调仍然倾向于谨慎/避险，该指数在FOMC会议后继续上涨。隔夜，由于欧洲情绪在早盘交易中受到影响，DXY在93.500点触底，然后最多升至93.684点。从技术角度来看，该指数关注93.900关口附近的阻力位——该关口在2020年第三季度和第四季度多次充当上限。在此之上，突破94.000心理关口可能会为94.300（2020年11月4日高点）、94.500附近的阻力打开大门，随后是94.650和94.807的100和200 WMA——尽管这些还有一段路要走。下行方面，昨日低点为93.214，心理低点为93.000，而21日均线(92.674)和50日均线(92.377)位于下方。未来，国家日历将是空的，但价格走势可能会由风险基调决定。顺便说一句，美联储主席鲍威尔将于8月27日英国夏令时15:00/美国东部时间10:00在杰克逊霍尔研讨会上就经济前景发表讲话。</blockquote></p><p> <b>In commodities,</b>WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.</p><p><blockquote><b>在大宗商品中，</b>由于对COVID的持续担忧以及市场的谨慎基调，WTI和布伦特原油近月期货再次走软。在前者方面，隔夜交易中，新西兰全国范围内的封锁延长，澳大利亚悉尼的限制延长至9月底。除此之外，该综合体和整个市场的消息一直很平静——在缺乏催化剂的情况下，情绪和达美航空的困境可能会优先。WTI原油价格回到63美元/桶（相对于64.04美元/桶的高点），布伦特原油价格回到66美元/桶（相对于66.93美元/桶的高点）。在其他地方，现货黄金和白银各不相同，但在更大的范围内分别保持在1775美元/盎司以上和23美元/盎司以上。与此同时，基本金属从昨日的剧烈抛售中温和反弹，但基准LME铜在找到上限后仍低于9000/吨。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180862486","content_text":"(Aug 20) U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&P 500 on course for their worst week since mid-June.\nAt 07:52 a.m. ET, Dow E-minis were down 139 points, or 0.40%, S&P 500 E-minis were down 16.5 points, or 0.37% and Nasdaq 100 E-minis were down 24 points, or 0.16%.\n\nStocks making the biggest moves premarket:\n1) John Deere – The heavy equipment maker reported quarterly earnings of $5.32 per share, compared with a consensus estimate of $4.58, and its revenue beat forecasts as well. Deere was up 1.1% in premarket trading as it also raised its full-year earnings forecast on solid demand for farm equipment.\n2) Foot Locker – Foot Locker shares surged 6.2% in the premarket after the athletic footwear and apparel maker reported better-than-expected second-quarter results. Foot Locker earned an adjusted $2.21 per share, compared with a $1.01 consensus estimate, and comparable stores sales rose 6.9%. Analysts had expected a slight decline in comp sales.\n3) Buckle – The fashion accessories retailer beat estimates by 18 cents with quarterly earnings of $1.04 per share, and revenue above estimates as the company benefited from more in-person shopping. The stock jumped 4.6% in premarket trading.\n4) Spotify Technology S.A. – The music streaming service announced that its board approved a $1 billion stock buyback. Chief Financial Officer Paul Vogel said the move demonstrates the company’s confidence in its business and long-term growth opportunities. Spotify added 1.1% in the premarket.\n5) Applied Materials – The maker of semiconductor manufacturing equipment beat estimates by 13 cents with an adjusted quarterly profit of $1.90 per share and revenue also topping analyst predictions. It also gave a better-than-expected outlook, but Applied Materials shares fell 1.3% in premarket trading.\n6) Ross – The discount retailer reported a quarterly profit of $1.39 per share, beating the 98 cent consensus estimate, and also reported better-than-expected revenue. However, its current-quarter and full-year earnings outlook fell short of analyst forecasts, and the stock slid 4% in premarket action.\n7) Johnson & Johnson – Chief Executive Officer Alex Gorsky announced plans to step aside on Jan. 3, with company veteran Joaquin Duato taking over and Gorsky assuming the role of executive chairman.\n8) Lordstown Motors Corp. – The electric vehicle maker’s shares rose 2.1% in the premarket, recovering a small part of the 9.5% Thursday drop that had sent the stock to its lowest since going public. That took place after the annual shareholder meeting that lasted only 10 minutes.\n9) Adobe – The software maker announced a deal to buy cloud-based video collaboration platform Frame.io for $1.275 billion in cash. The acquisition will be used to expand the capabilities of Adobe’s Create Cloud software suite.\n10) Petco Health and Wellness Company, Inc. – Petco added 2.1% in the premarket to Thursday’s 3.6% gain, with Credit Suisse upgrading the pet products retailer’s stock to “outperform” from “neutral”. Credit Suisse said it is more positive on the outlook for Petco’s business following the company’s upbeat earnings report.\n11) Mosaic – The fertilizer producer was upgraded to “buy” from “hold” at HSBC, based on expected benefits from higher fertilizer prices.\nIn FX,the index continues to extend on the upside seen post-FOMC as the risk tone remains tilted towards caution/risk aversion. Overnight, the DXY found a floor at 93.500 before rising to 93.684 at best as sentiment in Europe is tainted in early trade. From a technical standpoint, the index eyes resistance around the 93.900 mark - which acted as a ceiling on several occasions during Q3 and Q4 2020. Above that, a breach of the psychological 94.000 mark could open the door to resistance around 94.300 (4th Nov 2020 high), 94.500 and thereafter the 100 and 200 WMAs at 94.650 and 94.807 - although these are still some way off. To the downside, yesterday’s low was at 93.214, the psychological 93.000, whilst the 21 DMA (92.674) and the 50 DMA (92.377) reside just below. Ahead, an empty state-side calendar but price action will likely be dictated by the risk tone. As a side note Fed Chair Powell is to speak on the economic outlook at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT.\nIn commodities,WTI and Brent front-month futures are once again on a softer footing amid the continuing COVID concerns coupled with the cautious tone around the market. On the former, the overnight session saw an extension of the Kiwi nationwide lockdown alongside Australia's Sydney's curbs extended until the end of September. Aside from that news flow has been quiet for the complex and the market in general - with sentiment and Delta woes likely to take precedence in the absence of catalysts. WTI makes its way back towards UD 63/bbl (vs high 64.04/bbl) and Brent towards USD 66/bbl (vs 66.93 high). Elsewhere, spot gold and silver vary but remain flat in the grander scheme above USD 1,775/oz and north of USD 23/oz respectively. Base metals meanwhile see a mild rebound from yesterday's violent selloff, but benchmark LME copper remains sub-9,000/t after finding a ceiling at the mark.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177931907,"gmtCreate":1627174714409,"gmtModify":1633767524762,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177931907","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.laohu8.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>腾讯控股被命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>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措施，恢复市场竞争状态，如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竞争对手的条件等。腾讯控股将在三年内每年向国家市场监管总局报告义务履行情况，国家市场监管总局将依法严格监督落实。</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。腾讯控股将负全责，在规定时限内与腾讯控股音乐等关联公司制定整改措施和方案，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>腾讯控股被命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>腾讯控股被命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>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措施，恢复市场竞争状态，如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竞争对手的条件等。腾讯控股将在三年内每年向国家市场监管总局报告义务履行情况，国家市场监管总局将依法严格监督落实。</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。腾讯控股将负全责，在规定时限内与腾讯控股音乐等关联公司制定整改措施和方案，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":{"TME":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142201734,"gmtCreate":1626150170328,"gmtModify":1633929613936,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142201734","repostId":"1101566017","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143604771,"gmtCreate":1625790370493,"gmtModify":1633937350535,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/143604771","repostId":"1126734950","repostType":4,"isVote":1,"tweetType":1,"viewCount":515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154485123,"gmtCreate":1625539224562,"gmtModify":1633939840142,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154485123","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887307543,"gmtCreate":1631970199482,"gmtModify":1632805035455,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/887307543","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</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":{"AKA":"a.k.a. Brands Holding Corp.","CWAN":"Clearwater Analytics Holdings, Inc.","THRN":"Thorne Healthtech","SOVO":"Sovos Brands, Inc.","TOST":"Toast, Inc.","ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","RELY":"Remitly Global, Inc.","HLTH":"Cue Health Inc.","ESMT":"EngageSmart Inc.","BRLT":"Brilliant Earth Group, Inc.","STER":"Sterling Check Corp."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"ESMT":0.9,"TOST":0.9,"STER":0.9,"AKA":0.9,"HLTH":0.9,"KDC":0.9,"CWAN":0.9,"THRN":0.9,"FRSH":0.9,"SOVO":0.9,"BRLT":0.9,"RELY":0.9,"ARBK":0.9}},"isVote":1,"tweetType":1,"viewCount":3202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882630897,"gmtCreate":1631681711819,"gmtModify":1631890796402,"author":{"id":"3584395488031951","authorId":"3584395488031951","name":"TohYangYang","avatar":"https://static.tigerbbs.com/3e76cb2a204369fb8e5eb9e84a258516","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584395488031951","authorIdStr":"3584395488031951"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/882630897","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","kind":"news","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=zh_CN&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}