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2021-11-19

Cool

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2021-07-13

Hmm okay

Dow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</blockquote>

2021-07-10

Cool

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

2021-07-08

Like and comment pls thanks!

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2021-07-05

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Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>

2021-06-29

Great!

S&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</blockquote>

2021-06-17

Nice!

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2021-06-17

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Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote>

2021-06-16

:(

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2021-06-15

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2021-06-12

Good read!

Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>

2021-06-11

Good

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2021-06-09

Comment and like!

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2021-06-08

Amazon!

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2021-06-06

Good read!

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2021-06-03

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Dow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</blockquote>

2021-06-01

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okay","listText":"Hmm okay","text":"Hmm okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145048000","repostId":"1111418784","repostType":4,"repost":{"id":"1111418784","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":1626183009,"share":"https://www.laohu8.com/m/news/1111418784?lang=zh_CN&edition=full","pubTime":"2021-07-13 21:30","market":"us","language":"en","title":"Dow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111418784","media":"Tiger Newspress","summary":"Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong ","content":"<p>Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.</p><p><blockquote>高于预期的通胀报告盖过了第二季度财报季的强劲开局，周二股市小幅下跌。</blockquote></p><p> The Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&amp;P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.</p><p><blockquote>道琼斯工业平均指数下跌20点，即0.1%。该指标前一天收于略低于35,000点的创纪录水平。标普500下跌0.1%。纳斯达克综合指数也下跌0.1%。</blockquote></p><p> Inflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.</p><p><blockquote>美国劳工部周二报告称，通货膨胀率以近13年来最快的速度上升。居民消费价格指数同比上涨5.4%；道琼斯调查的经济学家预计将上涨5%。不包括食品和能源的核心CPI上涨4.5%，为1991年9月以来该指标的最大涨幅，远高于3.8%的预期。</blockquote></p><p> \"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from&nbsp;here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"</p><p><blockquote>Cornerstone Wealth首席信息官克里夫·霍奇(Cliff Hodge)表示：“今天早上白热化的6月份消费者物价指数(CPI)数据让市场感到紧张。”“展望未来，我们预计这些通胀数据将开始降温。2020年6月是大流行关闭期间核心CPI的绝对低点，因此从这里开始比较变得更加困难。二手车价格同比飙升45%，这不太可能持续在未来几个月。”</blockquote></p><p> The10-year U.S. Treasury yield&nbsp;edged slightly higher following the CPI report.</p><p><blockquote>CPI报告公布后，10年期美国国债收益率小幅走高。</blockquote></p><p> The latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.</p><p><blockquote>最新的通胀数据发布之前，大银行和百事可乐发布了超出华尔街预期的井喷式第二季度收益报告。但由于股市创历史新高，道琼斯工业平均指数略低于35,000点，预期可能高于官方预期。</blockquote></p><p> JPMorgan Chase shares dipped in the premarket even after posting&nbsp;second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.</p><p><blockquote>摩根大通公布第二季度盈利119亿美元，即每股3.78美元，超过了Refinitiv调查的分析师3.21美元的预期，但其股价在盘前仍下跌。</blockquote></p><p> Banks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.</p><p><blockquote>银行为疫情期间的贷款损失预留了数十亿美元，但随着消费者的表现好于预期，银行一直在释放这些准备金。摩根大通在仅冲销7.34亿美元后释放了30亿美元的贷款损失准备金。这给该公司带来了23亿美元的收益，使该银行的盈利超出了预期。由于此次贷款损失准备金的释放，投资者可能会减少对摩根大通盈利超出预期的信任。</blockquote></p><p> Meanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported&nbsp;second-quarter earnings&nbsp;of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.</p><p><blockquote>与此同时，高盛股价在盘前交易中小幅上涨约1%。该公司公布第二季度每股收益为15.02美元，高于分析师预期的每股收益10.24美元。随着上季度华尔街IPO热潮席卷，该银行公布了有史以来第二好的季度投资银行收入。</blockquote></p><p> PepsiCo also crushed estimates for its&nbsp;second-quarter earnings&nbsp;and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.</p><p><blockquote>受餐厅需求回升的推动，百事公司第二季度盈利和收入也超出了预期。这家饮料和零食巨头也上调了预测。股价在盘前交易中上涨超过1%。</blockquote></p><p> Overall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.</p><p><blockquote>FactSet的数据显示，未来几周第二季度的整体盈利报告预计将非常出色，该季度利润预计同比增长64%。这将是自2009年以来最大的季度利润增幅。</blockquote></p><p> Banks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.</p><p><blockquote>FactSet调查的分析师表示，第二季度银行盈利预计将增长一倍以上，预计同比增长率为119.5%。</blockquote></p><p> In the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&amp;P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.</p><p><blockquote>在周一的常规交易时段，道琼斯指数上涨126.02点，收于略低于35,000点。该蓝筹股指标今年上涨了14%。标准普尔500指数和纳斯达克综合指数分别上涨0.3%和0.2%，创下收盘纪录。</blockquote></p><p> \"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"</p><p><blockquote>Sanctuary Wealth首席投资官杰夫·基尔伯格(Jeff Kilburg)表示：“对盈利的高预期和每家公司的前瞻性指引将推高市场，否则失望可能会导致股市小幅回调。”“人们将关注主要银行，为未来几周的盈利定下基调。”</blockquote></p><p> Bank of America,Citi&nbsp;group,Wells Fargo&nbsp;and&nbsp;Morgan Stanley&nbsp;all ended Monday higher as well. They will report their earnings later in the week.</p><p><blockquote>美国银行、花旗集团、富国银行和摩根士丹利周一也均收高。他们将在本周晚些时候公布收益。</blockquote></p><p> Federal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.</p><p><blockquote>美联储主席杰罗姆·鲍威尔斯定于周三和周四出席国会，提供货币政策的最新情况。他坚称，在就业和通胀目标取得更多进展之前，美联储的宽松政策将保持不变。</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>Dow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</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\">2021-07-13 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.</p><p><blockquote>高于预期的通胀报告盖过了第二季度财报季的强劲开局，周二股市小幅下跌。</blockquote></p><p> The Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&amp;P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.</p><p><blockquote>道琼斯工业平均指数下跌20点，即0.1%。该指标前一天收于略低于35,000点的创纪录水平。标普500下跌0.1%。纳斯达克综合指数也下跌0.1%。</blockquote></p><p> Inflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.</p><p><blockquote>美国劳工部周二报告称，通货膨胀率以近13年来最快的速度上升。居民消费价格指数同比上涨5.4%；道琼斯调查的经济学家预计将上涨5%。不包括食品和能源的核心CPI上涨4.5%，为1991年9月以来该指标的最大涨幅，远高于3.8%的预期。</blockquote></p><p> \"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from&nbsp;here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"</p><p><blockquote>Cornerstone Wealth首席信息官克里夫·霍奇(Cliff Hodge)表示：“今天早上白热化的6月份消费者物价指数(CPI)数据让市场感到紧张。”“展望未来，我们预计这些通胀数据将开始降温。2020年6月是大流行关闭期间核心CPI的绝对低点，因此从这里开始比较变得更加困难。二手车价格同比飙升45%，这不太可能持续在未来几个月。”</blockquote></p><p> The10-year U.S. Treasury yield&nbsp;edged slightly higher following the CPI report.</p><p><blockquote>CPI报告公布后，10年期美国国债收益率小幅走高。</blockquote></p><p> The latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.</p><p><blockquote>最新的通胀数据发布之前，大银行和百事可乐发布了超出华尔街预期的井喷式第二季度收益报告。但由于股市创历史新高，道琼斯工业平均指数略低于35,000点，预期可能高于官方预期。</blockquote></p><p> JPMorgan Chase shares dipped in the premarket even after posting&nbsp;second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.</p><p><blockquote>摩根大通公布第二季度盈利119亿美元，即每股3.78美元，超过了Refinitiv调查的分析师3.21美元的预期，但其股价在盘前仍下跌。</blockquote></p><p> Banks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.</p><p><blockquote>银行为疫情期间的贷款损失预留了数十亿美元，但随着消费者的表现好于预期，银行一直在释放这些准备金。摩根大通在仅冲销7.34亿美元后释放了30亿美元的贷款损失准备金。这给该公司带来了23亿美元的收益，使该银行的盈利超出了预期。由于此次贷款损失准备金的释放，投资者可能会减少对摩根大通盈利超出预期的信任。</blockquote></p><p> Meanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported&nbsp;second-quarter earnings&nbsp;of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.</p><p><blockquote>与此同时，高盛股价在盘前交易中小幅上涨约1%。该公司公布第二季度每股收益为15.02美元，高于分析师预期的每股收益10.24美元。随着上季度华尔街IPO热潮席卷，该银行公布了有史以来第二好的季度投资银行收入。</blockquote></p><p> PepsiCo also crushed estimates for its&nbsp;second-quarter earnings&nbsp;and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.</p><p><blockquote>受餐厅需求回升的推动，百事公司第二季度盈利和收入也超出了预期。这家饮料和零食巨头也上调了预测。股价在盘前交易中上涨超过1%。</blockquote></p><p> Overall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.</p><p><blockquote>FactSet的数据显示，未来几周第二季度的整体盈利报告预计将非常出色，该季度利润预计同比增长64%。这将是自2009年以来最大的季度利润增幅。</blockquote></p><p> Banks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.</p><p><blockquote>FactSet调查的分析师表示，第二季度银行盈利预计将增长一倍以上，预计同比增长率为119.5%。</blockquote></p><p> In the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&amp;P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.</p><p><blockquote>在周一的常规交易时段，道琼斯指数上涨126.02点，收于略低于35,000点。该蓝筹股指标今年上涨了14%。标准普尔500指数和纳斯达克综合指数分别上涨0.3%和0.2%，创下收盘纪录。</blockquote></p><p> \"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"</p><p><blockquote>Sanctuary Wealth首席投资官杰夫·基尔伯格(Jeff Kilburg)表示：“对盈利的高预期和每家公司的前瞻性指引将推高市场，否则失望可能会导致股市小幅回调。”“人们将关注主要银行，为未来几周的盈利定下基调。”</blockquote></p><p> Bank of America,Citi&nbsp;group,Wells Fargo&nbsp;and&nbsp;Morgan Stanley&nbsp;all ended Monday higher as well. They will report their earnings later in the week.</p><p><blockquote>美国银行、花旗集团、富国银行和摩根士丹利周一也均收高。他们将在本周晚些时候公布收益。</blockquote></p><p> Federal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.</p><p><blockquote>美联储主席杰罗姆·鲍威尔斯定于周三和周四出席国会，提供货币政策的最新情况。他坚称，在就业和通胀目标取得更多进展之前，美联储的宽松政策将保持不变。</blockquote></p><p></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111418784","content_text":"Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.\nThe Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.\nInflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.\n\"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"\nThe10-year U.S. Treasury yield edged slightly higher following the CPI report.\nThe latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.\nJPMorgan Chase shares dipped in the premarket even after posting second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.\nBanks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.\nMeanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported second-quarter earnings of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.\nPepsiCo also crushed estimates for its second-quarter earnings and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.\nOverall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.\nBanks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.\nIn the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.\n\"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"\nBank of America,Citi group,Wells Fargo and Morgan Stanley all ended Monday higher as well. They will report their earnings later in the week.\nFederal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148338993,"gmtCreate":1625928061912,"gmtModify":1633931525660,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148338993","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohu8.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济蓬勃发展，盈利上升，美联储给予前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（豪尔赫·格雷罗/法新社，盖蒂图片社摄）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经大幅上涨17%，确实可能会出现回调。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于这六个原因，我们仍处于股市三到五年牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1.有巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。总而言之，巨大的被压抑的私营部门需求将有助于推动美国今年的GDP增长达到8%，并在此后几年达到3.5%-4.5%。Leuthold Group首席策略师兼经济学家吉姆·保尔森指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年，家庭组建激增。这有助于解释家庭需求的大幅上升。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未用完的储蓄，因为他们为疫情做好了准备。个人储蓄率接近GDP的16%，而战后的平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表显著改善。债务收入比是20世纪90年代以来的最低水平。消费者将继续利用更多的银行贷款和信用卡容量，因为就业和经济保持强劲，他们的信心增强。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会提高，这必然会促进经济增长。劳动参与率还有提高的空间，在我们达到可能限制经济增长的充分就业之前，留下了闲置的就业能力。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们看看企业被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听说的所有短缺的东西吗？这就是为什么会发生这种情况。为了应对长期的疫情，企业大幅削减库存。这是有史以来最大的库存清理。但现在，企业不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司也削减了产能，并再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平，去年飙升至历史新高，增长了近23%。这创造了持续的增长，它告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>：我们今年将看到7%-8%的GDP增长，明年将达到4%-4.5%，之后将高于平均水平的增长，支持股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2.被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得如此之快，分析师们跟不上。分析师预计标普500今年的每股收益为190美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激通常需要六到八个月才能生效，最近的很多刺激都发生在这个窗口内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计，2021年标普500的盈利将更接近220美元，而不是普遍预期的190美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>保尔森表示：“分析师仍然低估了利润的改善程度以及将会改善多少。”“我们从政策官员那里得到了戏剧性的过度反应。他们解决了崩溃的问题，但在基本面上创造了巨大的改善。这在利润复苏方面仍在发挥作用。”</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出现。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3.城里有一个新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通胀。在此过程中，央行扼杀了经济增长。这就是过去20年是战后经济增长最慢的原因之一。然而现在，美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的衡量标准来衡量这一点。以GDP增长减去10年期国债收益率MUBMUSD10Y，1.359%。该指标在1980年至2010年的大部分时间里都为负值，当时美联储保持增长降温以遏制通胀。但现在，美联储的政策正在帮助将10年期国债收益率保持在远低于GDP增长的水平，从而使经济过热。这就是1950-1965年的情况，一些分析家将其看涨期权为“资本主义的黄金时代”，因为增长的下滑路径。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4.通货膨胀不会杀死公牛</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通胀短期内可能会上升。但从中期来看，通胀杀手将获胜。这是一个综述。人口老龄化，老年人消费减少。企业资本支出的繁荣将继续提高企业的生产率。这使他们能够避免将上升的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地制造商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>五、估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹的阶段，通常会出现以下动态。股市连续几个月横盘整理，主要是因为对通胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，压低了股票估值。在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中，这种动态大约在这一点上发挥了作用。简而言之，我们将看到盈利大幅飙升，而股市则标志着时间的到来，甚至是回调。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将降低股票估值，消除投资者的主要担忧之一——高估值。如果标普500的盈利在年底达到220美元，并且该指数因回调而达到4,000至4,100点，那么股票的市盈率将达到18-19倍，低于1990年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>与往常一样，道琼斯工业平均指数DJIA+1.30%和罗素2000小盘股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们重新进入横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6.情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一名逆向投资者，我将过度情绪视为是时候筹集一些现金的迹象。我们还没有看到这一点。一个简单的衡量标准是投资者情报牛熊比率。最近的价格是3.92。那是在警告路径附近，对我来说从4点开始。另一方面，共同基金现金最近为4.6万亿美元，接近历史高位。这代表了投资者的谨慎态度。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来持续的经济复苏和股市多年牛市，那么遵循这三个主题是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性股票。</b>继续投资对经济敏感的企业，并在回调时增持这些企业。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果您想要收益，请选择支付股息但具有资本增值潜力的股票，而不是销售消费品等稳定增长的公司。关于这个主题，在我的股票信Brush Up on Stocks（链接在下面的简介中）中，我最近建议或重申了零售业的家得宝、市场和投资银行名称B.Riley Financial以及消费者金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长率往往更高。小心中国。它的人口正在老龄化。劳动力增长有限可能会限制经济增长。另一个挑战是，持续的美中紧张局势以及持续关税和贸易壁垒的相关威胁导致全球公司将供应链转移到其他地方。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济蓬勃发展，盈利上升，美联储给予前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（豪尔赫·格雷罗/法新社，盖蒂图片社摄）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经大幅上涨17%，确实可能会出现回调。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于这六个原因，我们仍处于股市三到五年牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1.有巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。总而言之，巨大的被压抑的私营部门需求将有助于推动美国今年的GDP增长达到8%，并在此后几年达到3.5%-4.5%。Leuthold Group首席策略师兼经济学家吉姆·保尔森指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年，家庭组建激增。这有助于解释家庭需求的大幅上升。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未用完的储蓄，因为他们为疫情做好了准备。个人储蓄率接近GDP的16%，而战后的平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表显著改善。债务收入比是20世纪90年代以来的最低水平。消费者将继续利用更多的银行贷款和信用卡容量，因为就业和经济保持强劲，他们的信心增强。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会提高，这必然会促进经济增长。劳动参与率还有提高的空间，在我们达到可能限制经济增长的充分就业之前，留下了闲置的就业能力。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们看看企业被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听说的所有短缺的东西吗？这就是为什么会发生这种情况。为了应对长期的疫情，企业大幅削减库存。这是有史以来最大的库存清理。但现在，企业不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司也削减了产能，并再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平，去年飙升至历史新高，增长了近23%。这创造了持续的增长，它告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>：我们今年将看到7%-8%的GDP增长，明年将达到4%-4.5%，之后将高于平均水平的增长，支持股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2.被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得如此之快，分析师们跟不上。分析师预计标普500今年的每股收益为190美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激通常需要六到八个月才能生效，最近的很多刺激都发生在这个窗口内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计，2021年标普500的盈利将更接近220美元，而不是普遍预期的190美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>保尔森表示：“分析师仍然低估了利润的改善程度以及将会改善多少。”“我们从政策官员那里得到了戏剧性的过度反应。他们解决了崩溃的问题，但在基本面上创造了巨大的改善。这在利润复苏方面仍在发挥作用。”</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出现。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3.城里有一个新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通胀。在此过程中，央行扼杀了经济增长。这就是过去20年是战后经济增长最慢的原因之一。然而现在，美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的衡量标准来衡量这一点。以GDP增长减去10年期国债收益率MUBMUSD10Y，1.359%。该指标在1980年至2010年的大部分时间里都为负值，当时美联储保持增长降温以遏制通胀。但现在，美联储的政策正在帮助将10年期国债收益率保持在远低于GDP增长的水平，从而使经济过热。这就是1950-1965年的情况，一些分析家将其看涨期权为“资本主义的黄金时代”，因为增长的下滑路径。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4.通货膨胀不会杀死公牛</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通胀短期内可能会上升。但从中期来看，通胀杀手将获胜。这是一个综述。人口老龄化，老年人消费减少。企业资本支出的繁荣将继续提高企业的生产率。这使他们能够避免将上升的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地制造商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>五、估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹的阶段，通常会出现以下动态。股市连续几个月横盘整理，主要是因为对通胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，压低了股票估值。在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中，这种动态大约在这一点上发挥了作用。简而言之，我们将看到盈利大幅飙升，而股市则标志着时间的到来，甚至是回调。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将降低股票估值，消除投资者的主要担忧之一——高估值。如果标普500的盈利在年底达到220美元，并且该指数因回调而达到4,000至4,100点，那么股票的市盈率将达到18-19倍，低于1990年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>与往常一样，道琼斯工业平均指数DJIA+1.30%和罗素2000小盘股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们重新进入横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6.情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一名逆向投资者，我将过度情绪视为是时候筹集一些现金的迹象。我们还没有看到这一点。一个简单的衡量标准是投资者情报牛熊比率。最近的价格是3.92。那是在警告路径附近，对我来说从4点开始。另一方面，共同基金现金最近为4.6万亿美元，接近历史高位。这代表了投资者的谨慎态度。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来持续的经济复苏和股市多年牛市，那么遵循这三个主题是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性股票。</b>继续投资对经济敏感的企业，并在回调时增持这些企业。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果您想要收益，请选择支付股息但具有资本增值潜力的股票，而不是销售消费品等稳定增长的公司。关于这个主题，在我的股票信Brush Up on Stocks（链接在下面的简介中）中，我最近建议或重申了零售业的家得宝、市场和投资银行名称B.Riley Financial以及消费者金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长率往往更高。小心中国。它的人口正在老龄化。劳动力增长有限可能会限制经济增长。另一个挑战是，持续的美中紧张局势以及持续关税和贸易壁垒的相关威胁导致全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149620936,"gmtCreate":1625723588425,"gmtModify":1633937988749,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Like and comment pls thanks!","listText":"Like and comment pls thanks!","text":"Like and comment pls thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/149620936","repostId":"2149313255","repostType":4,"isVote":1,"tweetType":1,"viewCount":2235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154173163,"gmtCreate":1625492794652,"gmtModify":1633940219551,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154173163","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159528064,"gmtCreate":1624974888658,"gmtModify":1633946323220,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Great!","listText":"Great!","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159528064","repostId":"1182476641","repostType":4,"repost":{"id":"1182476641","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":1624973526,"share":"https://www.laohu8.com/m/news/1182476641?lang=zh_CN&edition=full","pubTime":"2021-06-29 21:32","market":"us","language":"en","title":"S&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182476641","media":"Tiger Newspress","summary":"The S&P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.\nTh","content":"<p>The S&amp;P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.</p><p><blockquote>随着银行股和其他周期性股票的攀升，标普500周二上午创下历史新高。</blockquote></p><p> The broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.</p><p><blockquote>大盘指数在前一交易日创纪录的收盘价基础上上涨约0.2%。道琼斯工业平均指数上涨130点，以科技股为主的纳斯达克综合指数上涨0.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7ee5a6ac292793d696bb5b5629fcf235\" tg-width=\"1074\" tg-height=\"478\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will&nbsp;double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.</p><p><blockquote>摩根士丹利表示将把季度股息增加一倍后，该银行股价在早盘交易中上涨超过3%。该行还宣布了120亿美元的股票回购计划。此前，美联储上周进行了压力测试，所有23家主要银行都通过了压力测试。</blockquote></p><p> Wells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.</p><p><blockquote>富国银行表示，计划将股息增加一倍至每股20美分，但须经董事会批准，并宣布了180亿美元的回购计划。美国银行、高盛和摩根大通也宣布增加股息。</blockquote></p><p> Boeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&amp;P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.</p><p><blockquote>联合航空表示将购买200架Max飞机后，波音股价早盘上涨超过1%。通用电气也提振了工业板块，在高盛将该股评为最佳创意后，该股上涨超过1%。S&amp;P Cash Shiller表示4月份房价同比上涨超过14%后，住宅建筑商股票上涨。</blockquote></p><p> Stocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&amp;P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.</p><p><blockquote>由于大型科技股走强，股市在周一的常规交易中升至新高。标普500上涨0.23%，连续第三次创下收盘纪录。纳斯达克上涨近1%，近六个交易日第五次上涨，收盘也创新高。然而，由于波音和雪佛龙等公司的回调，道琼斯指数下跌151点。</blockquote></p><p> The early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.</p><p><blockquote>周二周期性股和价值股的早盘走强抵消了成长股和科技股近期的部分反弹。达拉斯Delos Capital Advisors首席投资策略师安德鲁·史密斯表示，他预计这些集团将在未来几个月继续来回竞争。</blockquote></p><p> “It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.</p><p><blockquote>“这真的不会像我们过去那样简单的轮换，所有收益都来自价值，或者ETF资产流动将脱离价值并进入增长。我认为这将是一个来回波动的市场，”史密斯说，并补充说，他建议投资者增加防御性股票，而不仅仅是完全转向增长。</blockquote></p><p> With the market entering the final trading days of June and the second quarter, the S&amp;P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.</p><p><blockquote>随着市场进入6月和第二季度的最后几个交易日，标普500有望连续第五个月上涨。纳斯达克正迎来过去八个月中的第七个积极月份。然而，道琼斯指数本月出现亏损，并有望实现四个月连涨。</blockquote></p><p> Through Monday’s close, the S&amp;P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.</p><p><blockquote>截至周一收盘，标普500指数已上涨14%，道琼斯指数和纳斯达克指数2021年迄今已上涨12%。</blockquote></p><p> “Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick表示：“今年市场开局强劲。”“然而，其中大部分上涨发生在今年年初，许多股票在最近几个月停滞不前，”他补充道。Detrick认为，相对于债券，投资者应该持有跑赢大盘股票，但他指出了市场的一些担忧，包括估值上升。</blockquote></p><p> JPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.</p><p><blockquote>摩根大通量化策略师Dubravkos Lakos-Bujas在CNBC的“Squawk Box”节目中表示，市场近期似乎有上涨空间。</blockquote></p><p> “The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.</p><p><blockquote>“我们认为，总体而言，增长政策背景仍然支持风险资产，当然包括股票。与此同时，定位并没有真正延伸到我们所处的问题区域。因此，我们确实认为仍有一条跑道。……我认为未来两个月的夏季时期是市场继续爆发的时期，”该策略师表示。</blockquote></p><p> On the data front, an updated reading on consumer confidence is due out later Tuesday morning.</p><p><blockquote>数据方面，消费者信心的最新数据将于周二上午晚些时候公布。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\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\">\nS&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</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\">2021-06-29 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.</p><p><blockquote>随着银行股和其他周期性股票的攀升，标普500周二上午创下历史新高。</blockquote></p><p> The broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.</p><p><blockquote>大盘指数在前一交易日创纪录的收盘价基础上上涨约0.2%。道琼斯工业平均指数上涨130点，以科技股为主的纳斯达克综合指数上涨0.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7ee5a6ac292793d696bb5b5629fcf235\" tg-width=\"1074\" tg-height=\"478\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will&nbsp;double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.</p><p><blockquote>摩根士丹利表示将把季度股息增加一倍后，该银行股价在早盘交易中上涨超过3%。该行还宣布了120亿美元的股票回购计划。此前，美联储上周进行了压力测试，所有23家主要银行都通过了压力测试。</blockquote></p><p> Wells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.</p><p><blockquote>富国银行表示，计划将股息增加一倍至每股20美分，但须经董事会批准，并宣布了180亿美元的回购计划。美国银行、高盛和摩根大通也宣布增加股息。</blockquote></p><p> Boeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&amp;P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.</p><p><blockquote>联合航空表示将购买200架Max飞机后，波音股价早盘上涨超过1%。通用电气也提振了工业板块，在高盛将该股评为最佳创意后，该股上涨超过1%。S&amp;P Cash Shiller表示4月份房价同比上涨超过14%后，住宅建筑商股票上涨。</blockquote></p><p> Stocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&amp;P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.</p><p><blockquote>由于大型科技股走强，股市在周一的常规交易中升至新高。标普500上涨0.23%，连续第三次创下收盘纪录。纳斯达克上涨近1%，近六个交易日第五次上涨，收盘也创新高。然而，由于波音和雪佛龙等公司的回调，道琼斯指数下跌151点。</blockquote></p><p> The early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.</p><p><blockquote>周二周期性股和价值股的早盘走强抵消了成长股和科技股近期的部分反弹。达拉斯Delos Capital Advisors首席投资策略师安德鲁·史密斯表示，他预计这些集团将在未来几个月继续来回竞争。</blockquote></p><p> “It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.</p><p><blockquote>“这真的不会像我们过去那样简单的轮换，所有收益都来自价值，或者ETF资产流动将脱离价值并进入增长。我认为这将是一个来回波动的市场，”史密斯说，并补充说，他建议投资者增加防御性股票，而不仅仅是完全转向增长。</blockquote></p><p> With the market entering the final trading days of June and the second quarter, the S&amp;P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.</p><p><blockquote>随着市场进入6月和第二季度的最后几个交易日，标普500有望连续第五个月上涨。纳斯达克正迎来过去八个月中的第七个积极月份。然而，道琼斯指数本月出现亏损，并有望实现四个月连涨。</blockquote></p><p> Through Monday’s close, the S&amp;P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.</p><p><blockquote>截至周一收盘，标普500指数已上涨14%，道琼斯指数和纳斯达克指数2021年迄今已上涨12%。</blockquote></p><p> “Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick表示：“今年市场开局强劲。”“然而，其中大部分上涨发生在今年年初，许多股票在最近几个月停滞不前，”他补充道。Detrick认为，相对于债券，投资者应该持有跑赢大盘股票，但他指出了市场的一些担忧，包括估值上升。</blockquote></p><p> JPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.</p><p><blockquote>摩根大通量化策略师Dubravkos Lakos-Bujas在CNBC的“Squawk Box”节目中表示，市场近期似乎有上涨空间。</blockquote></p><p> “The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.</p><p><blockquote>“我们认为，总体而言，增长政策背景仍然支持风险资产，当然包括股票。与此同时，定位并没有真正延伸到我们所处的问题区域。因此，我们确实认为仍有一条跑道。……我认为未来两个月的夏季时期是市场继续爆发的时期，”该策略师表示。</blockquote></p><p> On the data front, an updated reading on consumer confidence is due out later Tuesday morning.</p><p><blockquote>数据方面，消费者信心的最新数据将于周二上午晚些时候公布。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182476641","content_text":"The S&P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.\nThe broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.\n\nShares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.\nWells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.\nBoeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.\nStocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.\nThe early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.\n“It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.\nWith the market entering the final trading days of June and the second quarter, the S&P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.\nThrough Monday’s close, the S&P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.\n“Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.\nJPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.\n“The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.\nOn the data front, an updated reading on consumer confidence is due out later Tuesday morning.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161213611,"gmtCreate":1623928219933,"gmtModify":1634025775594,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161213611","repostId":"2144748296","repostType":4,"isVote":1,"tweetType":1,"viewCount":2120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163862636,"gmtCreate":1623871017925,"gmtModify":1634026710452,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/163862636","repostId":"1170150919","repostType":4,"repost":{"id":"1170150919","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":1623866564,"share":"https://www.laohu8.com/m/news/1170150919?lang=zh_CN&edition=full","pubTime":"2021-06-17 02:02","market":"hk","language":"en","title":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170150919","media":"Tiger Newspress","summary":"U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and finan","content":"<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</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>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</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\">\nFed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</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\">2021-06-17 02:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170150919","content_text":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\nU.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.\nThe Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.\nNine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.\nEconomic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.\nThe policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.\nThe Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"\nChairman Jerome Powell will hold a press conference at 2:30 p.m. ET.\nThe meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.\nThe central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.\n\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"\nTreasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.\n\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"\nOn Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163922539,"gmtCreate":1623857487321,"gmtModify":1634026945414,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":":(","listText":":(","text":":(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163922539","repostId":"1160215752","repostType":4,"isVote":1,"tweetType":1,"viewCount":3457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187952598,"gmtCreate":1623736680715,"gmtModify":1634029327236,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Like and comment thanks!","listText":"Like and comment thanks!","text":"Like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/187952598","repostId":"2143178756","repostType":4,"isVote":1,"tweetType":1,"viewCount":3012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186306314,"gmtCreate":1623471798538,"gmtModify":1634032677330,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186306314","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-12 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">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":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181741120,"gmtCreate":1623413831860,"gmtModify":1634033571108,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/181741120","repostId":"1190309980","repostType":4,"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189098843,"gmtCreate":1623230817782,"gmtModify":1634035569659,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Comment and like!","listText":"Comment and like!","text":"Comment and 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read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115321004","repostId":"2140540596","repostType":4,"isVote":1,"tweetType":1,"viewCount":1084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118821074,"gmtCreate":1622728323998,"gmtModify":1634098676774,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/118821074","repostId":"1129684720","repostType":4,"repost":{"id":"1129684720","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":1622727120,"share":"https://www.laohu8.com/m/news/1129684720?lang=zh_CN&edition=full","pubTime":"2021-06-03 21:32","market":"us","language":"en","title":"Dow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129684720","media":"Tiger Newspress","summary":"U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid h","content":"<p>U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.</p><p><blockquote>美国股市周四下跌，因投机性交易活动加剧，市场继续难以创下历史新高，而投资者对好于预期的劳动力市场数据不屑一顾。</blockquote></p><p>The Dow Jones Industrial Average slipped 132 points. The S&amp;P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.</p><p><blockquote>道琼斯工业平均指数下跌132点。标普500下跌0.5%，以科技股为主的纳斯达克综合指数下跌0.8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4db1560703f1b8d53ae6eab976b7daa5\" tg-width=\"1047\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>The benchmark S&amp;P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&amp;P 500 is up 11% this year so far.</p><p><blockquote>基准标普500距离上月初达到的历史高点约1%，但过去两周左右一直徘徊在这些水平附近。今年迄今为止，标普500上涨了11%。</blockquote></p><p>Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.</p><p><blockquote>因预期今年经济重新开放而上涨的股票表现疲软。万豪、嘉年华和Gap均出现亏损。</blockquote></p><p>Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.</p><p><blockquote>通用汽车表示，预计2021年上半年业绩将“明显好于”之前的指引，该公司股价上涨3%。</blockquote></p><p>Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was&nbsp;up as much as 20% in premarket trading&nbsp;Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class&nbsp;A common stock.</p><p><blockquote>早期的大部分市场走势都集中在meme股票和连锁影院AMC院线上。该股在前一交易日几乎翻倍后，周四盘前交易中上涨了20%。AMC随后抹去涨幅，下跌10%，此前这家连锁影院表示可能会不时发行和出售最多1155万股A类普通股。</blockquote></p><p>Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.</p><p><blockquote>另一只模因股票黑莓周四上涨27%，使其本周迄今的涨幅达到约90%。</blockquote></p><p>Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.</p><p><blockquote>让人想起今年早些时候发生的事情，散户交易者在Reddit上聚集在一起，引发了该股的轧空。据S3 Partners称，周三，随着股价飙升，做空该股的卖空者损失了28亿美元。据S3称，这使得他们今年迄今的亏损超过50亿美元。当股票继续像这样上涨时，卖空者被迫回购股票以减少损失。</blockquote></p><p>The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.</p><p><blockquote>今年早些时候游戏驿站的模因股票泡沫给市场带来了一些压力，因为投资者担心这意味着股市上有太多的投机活动。随着对冲基金做空该股的损失增加，人们越来越担心华尔街的冒险行为会回落，这可能会打击整个市场。到目前为止，AMC最近的飙升似乎没有引起类似的担忧，但如果该股继续走高并引发其他股票的类似走势，这种情况可能会改变。</blockquote></p><p>On the date front,&nbsp;private job growth for May accelerated&nbsp;at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.</p><p><blockquote>薪资处理公司ADP周四发布的一份报告显示，在日期方面，5月份私人就业增长以近一年来最快的速度加速，企业雇佣了近100万名工人。</blockquote></p><p>Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.</p><p><blockquote>本月总雇佣人数达到978,000人，较4月份的654,000人大幅跃升，为2020年6月以来的最大增幅。道琼斯调查的经济学家一直在寻找68万人。</blockquote></p><p>Meanwhile, the latest jobless claims data&nbsp;came in slightly above estimates.&nbsp;First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.</p><p><blockquote>与此同时，最新的初请失业金数据略高于预期。截至5月29日当周，首次申请失业救济人数为38.5万人，而道琼斯估计为39.3万人。</blockquote></p><p>The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.</p><p><blockquote>根据道琼斯调查的经济学家，在周五就业报告发布之前，市场可能会暂停，该报告可能显示5月份非农就业人数增加671,000人。4月份经济增加了266,000个就业岗位。</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>Dow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</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\">2021-06-03 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.</p><p><blockquote>美国股市周四下跌，因投机性交易活动加剧，市场继续难以创下历史新高，而投资者对好于预期的劳动力市场数据不屑一顾。</blockquote></p><p>The Dow Jones Industrial Average slipped 132 points. The S&amp;P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.</p><p><blockquote>道琼斯工业平均指数下跌132点。标普500下跌0.5%，以科技股为主的纳斯达克综合指数下跌0.8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4db1560703f1b8d53ae6eab976b7daa5\" tg-width=\"1047\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>The benchmark S&amp;P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&amp;P 500 is up 11% this year so far.</p><p><blockquote>基准标普500距离上月初达到的历史高点约1%，但过去两周左右一直徘徊在这些水平附近。今年迄今为止，标普500上涨了11%。</blockquote></p><p>Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.</p><p><blockquote>因预期今年经济重新开放而上涨的股票表现疲软。万豪、嘉年华和Gap均出现亏损。</blockquote></p><p>Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.</p><p><blockquote>通用汽车表示，预计2021年上半年业绩将“明显好于”之前的指引，该公司股价上涨3%。</blockquote></p><p>Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was&nbsp;up as much as 20% in premarket trading&nbsp;Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class&nbsp;A common stock.</p><p><blockquote>早期的大部分市场走势都集中在meme股票和连锁影院AMC院线上。该股在前一交易日几乎翻倍后，周四盘前交易中上涨了20%。AMC随后抹去涨幅，下跌10%，此前这家连锁影院表示可能会不时发行和出售最多1155万股A类普通股。</blockquote></p><p>Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.</p><p><blockquote>另一只模因股票黑莓周四上涨27%，使其本周迄今的涨幅达到约90%。</blockquote></p><p>Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.</p><p><blockquote>让人想起今年早些时候发生的事情，散户交易者在Reddit上聚集在一起，引发了该股的轧空。据S3 Partners称，周三，随着股价飙升，做空该股的卖空者损失了28亿美元。据S3称，这使得他们今年迄今的亏损超过50亿美元。当股票继续像这样上涨时，卖空者被迫回购股票以减少损失。</blockquote></p><p>The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.</p><p><blockquote>今年早些时候游戏驿站的模因股票泡沫给市场带来了一些压力，因为投资者担心这意味着股市上有太多的投机活动。随着对冲基金做空该股的损失增加，人们越来越担心华尔街的冒险行为会回落，这可能会打击整个市场。到目前为止，AMC最近的飙升似乎没有引起类似的担忧，但如果该股继续走高并引发其他股票的类似走势，这种情况可能会改变。</blockquote></p><p>On the date front,&nbsp;private job growth for May accelerated&nbsp;at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.</p><p><blockquote>薪资处理公司ADP周四发布的一份报告显示，在日期方面，5月份私人就业增长以近一年来最快的速度加速，企业雇佣了近100万名工人。</blockquote></p><p>Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.</p><p><blockquote>本月总雇佣人数达到978,000人，较4月份的654,000人大幅跃升，为2020年6月以来的最大增幅。道琼斯调查的经济学家一直在寻找68万人。</blockquote></p><p>Meanwhile, the latest jobless claims data&nbsp;came in slightly above estimates.&nbsp;First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.</p><p><blockquote>与此同时，最新的初请失业金数据略高于预期。截至5月29日当周，首次申请失业救济人数为38.5万人，而道琼斯估计为39.3万人。</blockquote></p><p>The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.</p><p><blockquote>根据道琼斯调查的经济学家，在周五就业报告发布之前，市场可能会暂停，该报告可能显示5月份非农就业人数增加671,000人。4月份经济增加了266,000个就业岗位。</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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129684720","content_text":"U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.The Dow Jones Industrial Average slipped 132 points. The S&P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.The benchmark S&P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&P 500 is up 11% this year so far.Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was up as much as 20% in premarket trading Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class A common stock.Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.On the date front, private job growth for May accelerated at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.Meanwhile, the latest jobless claims data came in slightly above estimates. First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119162107,"gmtCreate":1622528067909,"gmtModify":1634100782088,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584851873772781","authorIdStr":"3584851873772781"},"themes":[],"htmlText":"Like n comment pls thank you!","listText":"Like n comment pls thank you!","text":"Like n comment pls thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/119162107","repostId":"2139304437","repostType":4,"isVote":1,"tweetType":1,"viewCount":787,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":154173163,"gmtCreate":1625492794652,"gmtModify":1633940219551,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154173163","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149620936,"gmtCreate":1625723588425,"gmtModify":1633937988749,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Like and comment pls thanks!","listText":"Like and comment pls thanks!","text":"Like and comment pls thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/149620936","repostId":"2149313255","repostType":4,"isVote":1,"tweetType":1,"viewCount":2235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187952598,"gmtCreate":1623736680715,"gmtModify":1634029327236,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Like and comment thanks!","listText":"Like and comment thanks!","text":"Like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/187952598","repostId":"2143178756","repostType":4,"isVote":1,"tweetType":1,"viewCount":3012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118821074,"gmtCreate":1622728323998,"gmtModify":1634098676774,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/118821074","repostId":"1129684720","repostType":4,"repost":{"id":"1129684720","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":1622727120,"share":"https://www.laohu8.com/m/news/1129684720?lang=zh_CN&edition=full","pubTime":"2021-06-03 21:32","market":"us","language":"en","title":"Dow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129684720","media":"Tiger Newspress","summary":"U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid h","content":"<p>U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.</p><p><blockquote>美国股市周四下跌，因投机性交易活动加剧，市场继续难以创下历史新高，而投资者对好于预期的劳动力市场数据不屑一顾。</blockquote></p><p>The Dow Jones Industrial Average slipped 132 points. The S&amp;P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.</p><p><blockquote>道琼斯工业平均指数下跌132点。标普500下跌0.5%，以科技股为主的纳斯达克综合指数下跌0.8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4db1560703f1b8d53ae6eab976b7daa5\" tg-width=\"1047\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>The benchmark S&amp;P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&amp;P 500 is up 11% this year so far.</p><p><blockquote>基准标普500距离上月初达到的历史高点约1%，但过去两周左右一直徘徊在这些水平附近。今年迄今为止，标普500上涨了11%。</blockquote></p><p>Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.</p><p><blockquote>因预期今年经济重新开放而上涨的股票表现疲软。万豪、嘉年华和Gap均出现亏损。</blockquote></p><p>Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.</p><p><blockquote>通用汽车表示，预计2021年上半年业绩将“明显好于”之前的指引，该公司股价上涨3%。</blockquote></p><p>Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was&nbsp;up as much as 20% in premarket trading&nbsp;Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class&nbsp;A common stock.</p><p><blockquote>早期的大部分市场走势都集中在meme股票和连锁影院AMC院线上。该股在前一交易日几乎翻倍后，周四盘前交易中上涨了20%。AMC随后抹去涨幅，下跌10%，此前这家连锁影院表示可能会不时发行和出售最多1155万股A类普通股。</blockquote></p><p>Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.</p><p><blockquote>另一只模因股票黑莓周四上涨27%，使其本周迄今的涨幅达到约90%。</blockquote></p><p>Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.</p><p><blockquote>让人想起今年早些时候发生的事情，散户交易者在Reddit上聚集在一起，引发了该股的轧空。据S3 Partners称，周三，随着股价飙升，做空该股的卖空者损失了28亿美元。据S3称，这使得他们今年迄今的亏损超过50亿美元。当股票继续像这样上涨时，卖空者被迫回购股票以减少损失。</blockquote></p><p>The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.</p><p><blockquote>今年早些时候游戏驿站的模因股票泡沫给市场带来了一些压力，因为投资者担心这意味着股市上有太多的投机活动。随着对冲基金做空该股的损失增加，人们越来越担心华尔街的冒险行为会回落，这可能会打击整个市场。到目前为止，AMC最近的飙升似乎没有引起类似的担忧，但如果该股继续走高并引发其他股票的类似走势，这种情况可能会改变。</blockquote></p><p>On the date front,&nbsp;private job growth for May accelerated&nbsp;at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.</p><p><blockquote>薪资处理公司ADP周四发布的一份报告显示，在日期方面，5月份私人就业增长以近一年来最快的速度加速，企业雇佣了近100万名工人。</blockquote></p><p>Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.</p><p><blockquote>本月总雇佣人数达到978,000人，较4月份的654,000人大幅跃升，为2020年6月以来的最大增幅。道琼斯调查的经济学家一直在寻找68万人。</blockquote></p><p>Meanwhile, the latest jobless claims data&nbsp;came in slightly above estimates.&nbsp;First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.</p><p><blockquote>与此同时，最新的初请失业金数据略高于预期。截至5月29日当周，首次申请失业救济人数为38.5万人，而道琼斯估计为39.3万人。</blockquote></p><p>The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.</p><p><blockquote>根据道琼斯调查的经济学家，在周五就业报告发布之前，市场可能会暂停，该报告可能显示5月份非农就业人数增加671,000人。4月份经济增加了266,000个就业岗位。</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>Dow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow falls 132 points despite solid jobs data, wild trading in meme stocks continues<blockquote>尽管就业数据稳健，道琼斯指数仍下跌132点，模因股票的疯狂交易仍在继续</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\">2021-06-03 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.</p><p><blockquote>美国股市周四下跌，因投机性交易活动加剧，市场继续难以创下历史新高，而投资者对好于预期的劳动力市场数据不屑一顾。</blockquote></p><p>The Dow Jones Industrial Average slipped 132 points. The S&amp;P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.</p><p><blockquote>道琼斯工业平均指数下跌132点。标普500下跌0.5%，以科技股为主的纳斯达克综合指数下跌0.8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4db1560703f1b8d53ae6eab976b7daa5\" tg-width=\"1047\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>The benchmark S&amp;P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&amp;P 500 is up 11% this year so far.</p><p><blockquote>基准标普500距离上月初达到的历史高点约1%，但过去两周左右一直徘徊在这些水平附近。今年迄今为止，标普500上涨了11%。</blockquote></p><p>Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.</p><p><blockquote>因预期今年经济重新开放而上涨的股票表现疲软。万豪、嘉年华和Gap均出现亏损。</blockquote></p><p>Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.</p><p><blockquote>通用汽车表示，预计2021年上半年业绩将“明显好于”之前的指引，该公司股价上涨3%。</blockquote></p><p>Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was&nbsp;up as much as 20% in premarket trading&nbsp;Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class&nbsp;A common stock.</p><p><blockquote>早期的大部分市场走势都集中在meme股票和连锁影院AMC院线上。该股在前一交易日几乎翻倍后，周四盘前交易中上涨了20%。AMC随后抹去涨幅，下跌10%，此前这家连锁影院表示可能会不时发行和出售最多1155万股A类普通股。</blockquote></p><p>Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.</p><p><blockquote>另一只模因股票黑莓周四上涨27%，使其本周迄今的涨幅达到约90%。</blockquote></p><p>Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.</p><p><blockquote>让人想起今年早些时候发生的事情，散户交易者在Reddit上聚集在一起，引发了该股的轧空。据S3 Partners称，周三，随着股价飙升，做空该股的卖空者损失了28亿美元。据S3称，这使得他们今年迄今的亏损超过50亿美元。当股票继续像这样上涨时，卖空者被迫回购股票以减少损失。</blockquote></p><p>The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.</p><p><blockquote>今年早些时候游戏驿站的模因股票泡沫给市场带来了一些压力，因为投资者担心这意味着股市上有太多的投机活动。随着对冲基金做空该股的损失增加，人们越来越担心华尔街的冒险行为会回落，这可能会打击整个市场。到目前为止，AMC最近的飙升似乎没有引起类似的担忧，但如果该股继续走高并引发其他股票的类似走势，这种情况可能会改变。</blockquote></p><p>On the date front,&nbsp;private job growth for May accelerated&nbsp;at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.</p><p><blockquote>薪资处理公司ADP周四发布的一份报告显示，在日期方面，5月份私人就业增长以近一年来最快的速度加速，企业雇佣了近100万名工人。</blockquote></p><p>Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.</p><p><blockquote>本月总雇佣人数达到978,000人，较4月份的654,000人大幅跃升，为2020年6月以来的最大增幅。道琼斯调查的经济学家一直在寻找68万人。</blockquote></p><p>Meanwhile, the latest jobless claims data&nbsp;came in slightly above estimates.&nbsp;First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.</p><p><blockquote>与此同时，最新的初请失业金数据略高于预期。截至5月29日当周，首次申请失业救济人数为38.5万人，而道琼斯估计为39.3万人。</blockquote></p><p>The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.</p><p><blockquote>根据道琼斯调查的经济学家，在周五就业报告发布之前，市场可能会暂停，该报告可能显示5月份非农就业人数增加671,000人。4月份经济增加了266,000个就业岗位。</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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129684720","content_text":"U.S. stocks fell on Thursday as the market continued to struggle to reach a new all-time high amid heightened speculative trading activity, while investors shrugged off better-than-expected labor market data.The Dow Jones Industrial Average slipped 132 points. The S&P 500 declined 0.5% and the tech-heavy Nasdaq Composite shed 0.8%.The benchmark S&P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&P 500 is up 11% this year so far.Stocks that have run up in anticipation of the economy reopening this year were weak. Marriott, Carnival and Gap all traded in the red.Shares of General Motors rose 3% after the company said it expects its results for the first half of 2021 to be “significantly better” than its prior guidance.Most of the early market action centered on meme stock and theater chain AMC Entertainment. The stock was up as much as 20% in premarket trading Thursday after practically doubling in the prior session. AMC later wiped out gains and fell 10% after the movie theater chain said it may offer and sell from time to time up to 11.55 million shares of its Class A common stock.Another meme stock BlackBerry rallied 27% on Thursday, bringing its week-to-date gains to about 90%.Reminiscent of what occurred earlier this year, retail traders rallying together on Reddit have triggered a short squeeze in the stock. On Wednesday, short-sellers betting against the stock lost $2.8 billion as the shares surged, according to S3 Partners. That brings their year-to-date losses to more than $5 billion, according to S3. Short sellers are forced to buy back the stock to cut their losses when it keeps rallying like this.The meme stock bubble in GameStop earlier this year weighed on the market a bit as investors worried it meant too much speculative activity was in the stock market. As losses in hedge funds betting against the stock mounted, worries increased about a pullback in risk-taking across Wall Street that could hit the overall market. AMC's latest surge did not appear to be causing similar concerns so far, but that could change if the stock keeps going higher and triggers similar moves in other stocks.On the date front, private job growth for May accelerated at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.Total hires came to 978,000 for the month, a big jump from April’s 654,000 and the largest gain since June 2020. Economists surveyed by Dow Jones had been looking for 680,000.Meanwhile, the latest jobless claims data came in slightly above estimates. First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000.The market may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, according to economists polled by Dow Jones. The economy added 266,000 jobs in April.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148338993,"gmtCreate":1625928061912,"gmtModify":1633931525660,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148338993","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohu8.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济蓬勃发展，盈利上升，美联储给予前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（豪尔赫·格雷罗/法新社，盖蒂图片社摄）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经大幅上涨17%，确实可能会出现回调。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于这六个原因，我们仍处于股市三到五年牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1.有巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。总而言之，巨大的被压抑的私营部门需求将有助于推动美国今年的GDP增长达到8%，并在此后几年达到3.5%-4.5%。Leuthold Group首席策略师兼经济学家吉姆·保尔森指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年，家庭组建激增。这有助于解释家庭需求的大幅上升。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未用完的储蓄，因为他们为疫情做好了准备。个人储蓄率接近GDP的16%，而战后的平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表显著改善。债务收入比是20世纪90年代以来的最低水平。消费者将继续利用更多的银行贷款和信用卡容量，因为就业和经济保持强劲，他们的信心增强。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会提高，这必然会促进经济增长。劳动参与率还有提高的空间，在我们达到可能限制经济增长的充分就业之前，留下了闲置的就业能力。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们看看企业被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听说的所有短缺的东西吗？这就是为什么会发生这种情况。为了应对长期的疫情，企业大幅削减库存。这是有史以来最大的库存清理。但现在，企业不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司也削减了产能，并再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平，去年飙升至历史新高，增长了近23%。这创造了持续的增长，它告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>：我们今年将看到7%-8%的GDP增长，明年将达到4%-4.5%，之后将高于平均水平的增长，支持股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2.被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得如此之快，分析师们跟不上。分析师预计标普500今年的每股收益为190美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激通常需要六到八个月才能生效，最近的很多刺激都发生在这个窗口内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计，2021年标普500的盈利将更接近220美元，而不是普遍预期的190美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>保尔森表示：“分析师仍然低估了利润的改善程度以及将会改善多少。”“我们从政策官员那里得到了戏剧性的过度反应。他们解决了崩溃的问题，但在基本面上创造了巨大的改善。这在利润复苏方面仍在发挥作用。”</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出现。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3.城里有一个新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通胀。在此过程中，央行扼杀了经济增长。这就是过去20年是战后经济增长最慢的原因之一。然而现在，美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的衡量标准来衡量这一点。以GDP增长减去10年期国债收益率MUBMUSD10Y，1.359%。该指标在1980年至2010年的大部分时间里都为负值，当时美联储保持增长降温以遏制通胀。但现在，美联储的政策正在帮助将10年期国债收益率保持在远低于GDP增长的水平，从而使经济过热。这就是1950-1965年的情况，一些分析家将其看涨期权为“资本主义的黄金时代”，因为增长的下滑路径。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4.通货膨胀不会杀死公牛</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通胀短期内可能会上升。但从中期来看，通胀杀手将获胜。这是一个综述。人口老龄化，老年人消费减少。企业资本支出的繁荣将继续提高企业的生产率。这使他们能够避免将上升的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地制造商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>五、估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹的阶段，通常会出现以下动态。股市连续几个月横盘整理，主要是因为对通胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，压低了股票估值。在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中，这种动态大约在这一点上发挥了作用。简而言之，我们将看到盈利大幅飙升，而股市则标志着时间的到来，甚至是回调。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将降低股票估值，消除投资者的主要担忧之一——高估值。如果标普500的盈利在年底达到220美元，并且该指数因回调而达到4,000至4,100点，那么股票的市盈率将达到18-19倍，低于1990年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>与往常一样，道琼斯工业平均指数DJIA+1.30%和罗素2000小盘股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们重新进入横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6.情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一名逆向投资者，我将过度情绪视为是时候筹集一些现金的迹象。我们还没有看到这一点。一个简单的衡量标准是投资者情报牛熊比率。最近的价格是3.92。那是在警告路径附近，对我来说从4点开始。另一方面，共同基金现金最近为4.6万亿美元，接近历史高位。这代表了投资者的谨慎态度。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来持续的经济复苏和股市多年牛市，那么遵循这三个主题是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性股票。</b>继续投资对经济敏感的企业，并在回调时增持这些企业。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果您想要收益，请选择支付股息但具有资本增值潜力的股票，而不是销售消费品等稳定增长的公司。关于这个主题，在我的股票信Brush Up on Stocks（链接在下面的简介中）中，我最近建议或重申了零售业的家得宝、市场和投资银行名称B.Riley Financial以及消费者金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长率往往更高。小心中国。它的人口正在老龄化。劳动力增长有限可能会限制经济增长。另一个挑战是，持续的美中紧张局势以及持续关税和贸易壁垒的相关威胁导致全球公司将供应链转移到其他地方。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济蓬勃发展，盈利上升，美联储给予前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（豪尔赫·格雷罗/法新社，盖蒂图片社摄）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经大幅上涨17%，确实可能会出现回调。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于这六个原因，我们仍处于股市三到五年牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1.有巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。总而言之，巨大的被压抑的私营部门需求将有助于推动美国今年的GDP增长达到8%，并在此后几年达到3.5%-4.5%。Leuthold Group首席策略师兼经济学家吉姆·保尔森指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年，家庭组建激增。这有助于解释家庭需求的大幅上升。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未用完的储蓄，因为他们为疫情做好了准备。个人储蓄率接近GDP的16%，而战后的平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表显著改善。债务收入比是20世纪90年代以来的最低水平。消费者将继续利用更多的银行贷款和信用卡容量，因为就业和经济保持强劲，他们的信心增强。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会提高，这必然会促进经济增长。劳动参与率还有提高的空间，在我们达到可能限制经济增长的充分就业之前，留下了闲置的就业能力。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们看看企业被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听说的所有短缺的东西吗？这就是为什么会发生这种情况。为了应对长期的疫情，企业大幅削减库存。这是有史以来最大的库存清理。但现在，企业不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司也削减了产能，并再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平，去年飙升至历史新高，增长了近23%。这创造了持续的增长，它告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>：我们今年将看到7%-8%的GDP增长，明年将达到4%-4.5%，之后将高于平均水平的增长，支持股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2.被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得如此之快，分析师们跟不上。分析师预计标普500今年的每股收益为190美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激通常需要六到八个月才能生效，最近的很多刺激都发生在这个窗口内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计，2021年标普500的盈利将更接近220美元，而不是普遍预期的190美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>保尔森表示：“分析师仍然低估了利润的改善程度以及将会改善多少。”“我们从政策官员那里得到了戏剧性的过度反应。他们解决了崩溃的问题，但在基本面上创造了巨大的改善。这在利润复苏方面仍在发挥作用。”</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出现。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3.城里有一个新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通胀。在此过程中，央行扼杀了经济增长。这就是过去20年是战后经济增长最慢的原因之一。然而现在，美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的衡量标准来衡量这一点。以GDP增长减去10年期国债收益率MUBMUSD10Y，1.359%。该指标在1980年至2010年的大部分时间里都为负值，当时美联储保持增长降温以遏制通胀。但现在，美联储的政策正在帮助将10年期国债收益率保持在远低于GDP增长的水平，从而使经济过热。这就是1950-1965年的情况，一些分析家将其看涨期权为“资本主义的黄金时代”，因为增长的下滑路径。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4.通货膨胀不会杀死公牛</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通胀短期内可能会上升。但从中期来看，通胀杀手将获胜。这是一个综述。人口老龄化，老年人消费减少。企业资本支出的繁荣将继续提高企业的生产率。这使他们能够避免将上升的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地制造商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>五、估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹的阶段，通常会出现以下动态。股市连续几个月横盘整理，主要是因为对通胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，压低了股票估值。在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中，这种动态大约在这一点上发挥了作用。简而言之，我们将看到盈利大幅飙升，而股市则标志着时间的到来，甚至是回调。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将降低股票估值，消除投资者的主要担忧之一——高估值。如果标普500的盈利在年底达到220美元，并且该指数因回调而达到4,000至4,100点，那么股票的市盈率将达到18-19倍，低于1990年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>与往常一样，道琼斯工业平均指数DJIA+1.30%和罗素2000小盘股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们重新进入横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6.情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一名逆向投资者，我将过度情绪视为是时候筹集一些现金的迹象。我们还没有看到这一点。一个简单的衡量标准是投资者情报牛熊比率。最近的价格是3.92。那是在警告路径附近，对我来说从4点开始。另一方面，共同基金现金最近为4.6万亿美元，接近历史高位。这代表了投资者的谨慎态度。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来持续的经济复苏和股市多年牛市，那么遵循这三个主题是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性股票。</b>继续投资对经济敏感的企业，并在回调时增持这些企业。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果您想要收益，请选择支付股息但具有资本增值潜力的股票，而不是销售消费品等稳定增长的公司。关于这个主题，在我的股票信Brush Up on Stocks（链接在下面的简介中）中，我最近建议或重申了零售业的家得宝、市场和投资银行名称B.Riley Financial以及消费者金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长率往往更高。小心中国。它的人口正在老龄化。劳动力增长有限可能会限制经济增长。另一个挑战是，持续的美中紧张局势以及持续关税和贸易壁垒的相关威胁导致全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117481487,"gmtCreate":1623157330449,"gmtModify":1634036367650,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Amazon!","listText":"Amazon!","text":"Amazon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/117481487","repostId":"1154765176","repostType":4,"isVote":1,"tweetType":1,"viewCount":394,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":876651793,"gmtCreate":1637309029607,"gmtModify":1637309029607,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876651793","repostId":"2184389835","repostType":4,"isVote":1,"tweetType":1,"viewCount":2322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":163862636,"gmtCreate":1623871017925,"gmtModify":1634026710452,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Please like and comment thanks!","listText":"Please like and comment thanks!","text":"Please like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/163862636","repostId":"1170150919","repostType":4,"repost":{"id":"1170150919","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":1623866564,"share":"https://www.laohu8.com/m/news/1170150919?lang=zh_CN&edition=full","pubTime":"2021-06-17 02:02","market":"hk","language":"en","title":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170150919","media":"Tiger Newspress","summary":"U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and finan","content":"<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</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>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</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\">\nFed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</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\">2021-06-17 02:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170150919","content_text":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\nU.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.\nThe Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.\nNine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.\nEconomic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.\nThe policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.\nThe Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"\nChairman Jerome Powell will hold a press conference at 2:30 p.m. ET.\nThe meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.\nThe central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.\n\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"\nTreasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.\n\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"\nOn Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159528064,"gmtCreate":1624974888658,"gmtModify":1633946323220,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Great!","listText":"Great!","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159528064","repostId":"1182476641","repostType":4,"repost":{"id":"1182476641","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":1624973526,"share":"https://www.laohu8.com/m/news/1182476641?lang=zh_CN&edition=full","pubTime":"2021-06-29 21:32","market":"us","language":"en","title":"S&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182476641","media":"Tiger Newspress","summary":"The S&P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.\nTh","content":"<p>The S&amp;P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.</p><p><blockquote>随着银行股和其他周期性股票的攀升，标普500周二上午创下历史新高。</blockquote></p><p> The broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.</p><p><blockquote>大盘指数在前一交易日创纪录的收盘价基础上上涨约0.2%。道琼斯工业平均指数上涨130点，以科技股为主的纳斯达克综合指数上涨0.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7ee5a6ac292793d696bb5b5629fcf235\" tg-width=\"1074\" tg-height=\"478\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will&nbsp;double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.</p><p><blockquote>摩根士丹利表示将把季度股息增加一倍后，该银行股价在早盘交易中上涨超过3%。该行还宣布了120亿美元的股票回购计划。此前，美联储上周进行了压力测试，所有23家主要银行都通过了压力测试。</blockquote></p><p> Wells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.</p><p><blockquote>富国银行表示，计划将股息增加一倍至每股20美分，但须经董事会批准，并宣布了180亿美元的回购计划。美国银行、高盛和摩根大通也宣布增加股息。</blockquote></p><p> Boeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&amp;P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.</p><p><blockquote>联合航空表示将购买200架Max飞机后，波音股价早盘上涨超过1%。通用电气也提振了工业板块，在高盛将该股评为最佳创意后，该股上涨超过1%。S&amp;P Cash Shiller表示4月份房价同比上涨超过14%后，住宅建筑商股票上涨。</blockquote></p><p> Stocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&amp;P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.</p><p><blockquote>由于大型科技股走强，股市在周一的常规交易中升至新高。标普500上涨0.23%，连续第三次创下收盘纪录。纳斯达克上涨近1%，近六个交易日第五次上涨，收盘也创新高。然而，由于波音和雪佛龙等公司的回调，道琼斯指数下跌151点。</blockquote></p><p> The early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.</p><p><blockquote>周二周期性股和价值股的早盘走强抵消了成长股和科技股近期的部分反弹。达拉斯Delos Capital Advisors首席投资策略师安德鲁·史密斯表示，他预计这些集团将在未来几个月继续来回竞争。</blockquote></p><p> “It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.</p><p><blockquote>“这真的不会像我们过去那样简单的轮换，所有收益都来自价值，或者ETF资产流动将脱离价值并进入增长。我认为这将是一个来回波动的市场，”史密斯说，并补充说，他建议投资者增加防御性股票，而不仅仅是完全转向增长。</blockquote></p><p> With the market entering the final trading days of June and the second quarter, the S&amp;P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.</p><p><blockquote>随着市场进入6月和第二季度的最后几个交易日，标普500有望连续第五个月上涨。纳斯达克正迎来过去八个月中的第七个积极月份。然而，道琼斯指数本月出现亏损，并有望实现四个月连涨。</blockquote></p><p> Through Monday’s close, the S&amp;P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.</p><p><blockquote>截至周一收盘，标普500指数已上涨14%，道琼斯指数和纳斯达克指数2021年迄今已上涨12%。</blockquote></p><p> “Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick表示：“今年市场开局强劲。”“然而，其中大部分上涨发生在今年年初，许多股票在最近几个月停滞不前，”他补充道。Detrick认为，相对于债券，投资者应该持有跑赢大盘股票，但他指出了市场的一些担忧，包括估值上升。</blockquote></p><p> JPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.</p><p><blockquote>摩根大通量化策略师Dubravkos Lakos-Bujas在CNBC的“Squawk Box”节目中表示，市场近期似乎有上涨空间。</blockquote></p><p> “The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.</p><p><blockquote>“我们认为，总体而言，增长政策背景仍然支持风险资产，当然包括股票。与此同时，定位并没有真正延伸到我们所处的问题区域。因此，我们确实认为仍有一条跑道。……我认为未来两个月的夏季时期是市场继续爆发的时期，”该策略师表示。</blockquote></p><p> On the data front, an updated reading on consumer confidence is due out later Tuesday morning.</p><p><blockquote>数据方面，消费者信心的最新数据将于周二上午晚些时候公布。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\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\">\nS&P 500 rises to another record at the open, led by bank shares<blockquote>银行股领涨标普500开盘再创新高</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\">2021-06-29 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.</p><p><blockquote>随着银行股和其他周期性股票的攀升，标普500周二上午创下历史新高。</blockquote></p><p> The broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.</p><p><blockquote>大盘指数在前一交易日创纪录的收盘价基础上上涨约0.2%。道琼斯工业平均指数上涨130点，以科技股为主的纳斯达克综合指数上涨0.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7ee5a6ac292793d696bb5b5629fcf235\" tg-width=\"1074\" tg-height=\"478\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Shares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will&nbsp;double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.</p><p><blockquote>摩根士丹利表示将把季度股息增加一倍后，该银行股价在早盘交易中上涨超过3%。该行还宣布了120亿美元的股票回购计划。此前，美联储上周进行了压力测试，所有23家主要银行都通过了压力测试。</blockquote></p><p> Wells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.</p><p><blockquote>富国银行表示，计划将股息增加一倍至每股20美分，但须经董事会批准，并宣布了180亿美元的回购计划。美国银行、高盛和摩根大通也宣布增加股息。</blockquote></p><p> Boeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&amp;P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.</p><p><blockquote>联合航空表示将购买200架Max飞机后，波音股价早盘上涨超过1%。通用电气也提振了工业板块，在高盛将该股评为最佳创意后，该股上涨超过1%。S&amp;P Cash Shiller表示4月份房价同比上涨超过14%后，住宅建筑商股票上涨。</blockquote></p><p> Stocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&amp;P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.</p><p><blockquote>由于大型科技股走强，股市在周一的常规交易中升至新高。标普500上涨0.23%，连续第三次创下收盘纪录。纳斯达克上涨近1%，近六个交易日第五次上涨，收盘也创新高。然而，由于波音和雪佛龙等公司的回调，道琼斯指数下跌151点。</blockquote></p><p> The early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.</p><p><blockquote>周二周期性股和价值股的早盘走强抵消了成长股和科技股近期的部分反弹。达拉斯Delos Capital Advisors首席投资策略师安德鲁·史密斯表示，他预计这些集团将在未来几个月继续来回竞争。</blockquote></p><p> “It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.</p><p><blockquote>“这真的不会像我们过去那样简单的轮换，所有收益都来自价值，或者ETF资产流动将脱离价值并进入增长。我认为这将是一个来回波动的市场，”史密斯说，并补充说，他建议投资者增加防御性股票，而不仅仅是完全转向增长。</blockquote></p><p> With the market entering the final trading days of June and the second quarter, the S&amp;P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.</p><p><blockquote>随着市场进入6月和第二季度的最后几个交易日，标普500有望连续第五个月上涨。纳斯达克正迎来过去八个月中的第七个积极月份。然而，道琼斯指数本月出现亏损，并有望实现四个月连涨。</blockquote></p><p> Through Monday’s close, the S&amp;P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.</p><p><blockquote>截至周一收盘，标普500指数已上涨14%，道琼斯指数和纳斯达克指数2021年迄今已上涨12%。</blockquote></p><p> “Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick表示：“今年市场开局强劲。”“然而，其中大部分上涨发生在今年年初，许多股票在最近几个月停滞不前，”他补充道。Detrick认为，相对于债券，投资者应该持有跑赢大盘股票，但他指出了市场的一些担忧，包括估值上升。</blockquote></p><p> JPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.</p><p><blockquote>摩根大通量化策略师Dubravkos Lakos-Bujas在CNBC的“Squawk Box”节目中表示，市场近期似乎有上涨空间。</blockquote></p><p> “The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.</p><p><blockquote>“我们认为，总体而言，增长政策背景仍然支持风险资产，当然包括股票。与此同时，定位并没有真正延伸到我们所处的问题区域。因此，我们确实认为仍有一条跑道。……我认为未来两个月的夏季时期是市场继续爆发的时期，”该策略师表示。</blockquote></p><p> On the data front, an updated reading on consumer confidence is due out later Tuesday morning.</p><p><blockquote>数据方面，消费者信心的最新数据将于周二上午晚些时候公布。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182476641","content_text":"The S&P 500 hit a record high on Tuesday morning as bank stocks and other cyclical plays climbed.\nThe broad market index ticked up about 0.2%, building on a record close from the previous session. The Dow Jones Industrial Average rose 130 points, and the tech-heavy Nasdaq Composite climbed 0.1%.\n\nShares of Morgan Stanley jumped more than 3% in morning trading after the bank said it will double its quarterly dividend. The bank also announced a $12 billion stock buy back program. The announcement follows last week's stress tests by the Federal Reserve, which all 23 major banks passed.\nWells Fargo said it plans on doubling its dividend to 20 cents a share, subject to board approval and announced an $18 billion buyback plan. Bank of America, Goldman Sachs and JPMorgan also announced dividend increases.\nBoeing shares rose more than 1% in early trading trading after United Airlinessaid it was buying 200 Max planes. General Electric also boosted the industrials sector, rising more than 1% afterGoldman Sachs named the stock a top idea. Homebuilder stocks rose after S&P Cash Shiller saidhome prices rose more than 14% in Aprilcompared to the prior year.\nStocks rose to new highs during regular trading on Monday amid strength in Big Tech. The S&P 500 advanced 0.23%, registering its third straight record close. The Nasdaq gained nearly 1%, posting its fifth positive session in the last six, and also closed at a new high. The Dow, however, dipped 151 points amid a pullback in Boeing and Chevron, among other names.\nThe early strength for cyclical and value stocks on Tuesday pushed back against some of the recent rebound in growth and tech stocks. Andrew Smith, chief investment strategist at Delos Capital Advisors in Dallas, said he expects those groups to continue to jockey back and forth in the months ahead.\n“It’s not really going to be one of those easy rotations that we’ve had in the past, where all the gains come out of value or the ETF asset flows are going to go out of value and into growth. I think it’s going to be a choppy market back and forth,” Smith said, adding that he recommends investors add defensive stocks and not just shift fully back to growth.\nWith the market entering the final trading days of June and the second quarter, the S&P 500 is on track to register its fifth straight month of gains. The Nasdaq is pacing for its seventh positive month in the last eight. The Dow, however, is in the red for the month, and on track to snap a four-month winning streak.\nThrough Monday’s close, the S&P 500 is up 14% and the Dow and Nasdaq are up 12% so far for 2021.\n“Markets are off to a strong start this year,” LPL Financial chief market strategist Ryan Detrick said. “However, most of those gains came early in the year, and many stocks have stagnated over recent months,” he added. Detrick believes investors should stay overweight stocks relative to bonds, but pointed to some concerns in the market, including elevated valuations.\nJPMorgan quantitative strategist Dubravkos Lakos-Bujas on CNBC’s “Squawk Box” that the market appeared to have near-term upside.\n“The growth policy backdrop in our opinion still remains supportive for risk assets in general, certainly including equities. At the same time, the positioning is not really stretched to where we are in a problematic territory. So we do think there is still a runway. ... The summer period, the next two months, is where I think the market continues to break out,” the strategist said.\nOn the data front, an updated reading on consumer confidence is due out later Tuesday morning.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181741120,"gmtCreate":1623413831860,"gmtModify":1634033571108,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/181741120","repostId":"1190309980","repostType":4,"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119162107,"gmtCreate":1622528067909,"gmtModify":1634100782088,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Like n comment pls thank you!","listText":"Like n comment pls thank you!","text":"Like n comment pls thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/119162107","repostId":"2139304437","repostType":4,"isVote":1,"tweetType":1,"viewCount":787,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145048000,"gmtCreate":1626184458900,"gmtModify":1633929296262,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Hmm okay","listText":"Hmm okay","text":"Hmm okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145048000","repostId":"1111418784","repostType":4,"repost":{"id":"1111418784","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":1626183009,"share":"https://www.laohu8.com/m/news/1111418784?lang=zh_CN&edition=full","pubTime":"2021-07-13 21:30","market":"us","language":"en","title":"Dow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111418784","media":"Tiger Newspress","summary":"Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong ","content":"<p>Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.</p><p><blockquote>高于预期的通胀报告盖过了第二季度财报季的强劲开局，周二股市小幅下跌。</blockquote></p><p> The Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&amp;P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.</p><p><blockquote>道琼斯工业平均指数下跌20点，即0.1%。该指标前一天收于略低于35,000点的创纪录水平。标普500下跌0.1%。纳斯达克综合指数也下跌0.1%。</blockquote></p><p> Inflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.</p><p><blockquote>美国劳工部周二报告称，通货膨胀率以近13年来最快的速度上升。居民消费价格指数同比上涨5.4%；道琼斯调查的经济学家预计将上涨5%。不包括食品和能源的核心CPI上涨4.5%，为1991年9月以来该指标的最大涨幅，远高于3.8%的预期。</blockquote></p><p> \"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from&nbsp;here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"</p><p><blockquote>Cornerstone Wealth首席信息官克里夫·霍奇(Cliff Hodge)表示：“今天早上白热化的6月份消费者物价指数(CPI)数据让市场感到紧张。”“展望未来，我们预计这些通胀数据将开始降温。2020年6月是大流行关闭期间核心CPI的绝对低点，因此从这里开始比较变得更加困难。二手车价格同比飙升45%，这不太可能持续在未来几个月。”</blockquote></p><p> The10-year U.S. Treasury yield&nbsp;edged slightly higher following the CPI report.</p><p><blockquote>CPI报告公布后，10年期美国国债收益率小幅走高。</blockquote></p><p> The latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.</p><p><blockquote>最新的通胀数据发布之前，大银行和百事可乐发布了超出华尔街预期的井喷式第二季度收益报告。但由于股市创历史新高，道琼斯工业平均指数略低于35,000点，预期可能高于官方预期。</blockquote></p><p> JPMorgan Chase shares dipped in the premarket even after posting&nbsp;second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.</p><p><blockquote>摩根大通公布第二季度盈利119亿美元，即每股3.78美元，超过了Refinitiv调查的分析师3.21美元的预期，但其股价在盘前仍下跌。</blockquote></p><p> Banks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.</p><p><blockquote>银行为疫情期间的贷款损失预留了数十亿美元，但随着消费者的表现好于预期，银行一直在释放这些准备金。摩根大通在仅冲销7.34亿美元后释放了30亿美元的贷款损失准备金。这给该公司带来了23亿美元的收益，使该银行的盈利超出了预期。由于此次贷款损失准备金的释放，投资者可能会减少对摩根大通盈利超出预期的信任。</blockquote></p><p> Meanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported&nbsp;second-quarter earnings&nbsp;of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.</p><p><blockquote>与此同时，高盛股价在盘前交易中小幅上涨约1%。该公司公布第二季度每股收益为15.02美元，高于分析师预期的每股收益10.24美元。随着上季度华尔街IPO热潮席卷，该银行公布了有史以来第二好的季度投资银行收入。</blockquote></p><p> PepsiCo also crushed estimates for its&nbsp;second-quarter earnings&nbsp;and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.</p><p><blockquote>受餐厅需求回升的推动，百事公司第二季度盈利和收入也超出了预期。这家饮料和零食巨头也上调了预测。股价在盘前交易中上涨超过1%。</blockquote></p><p> Overall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.</p><p><blockquote>FactSet的数据显示，未来几周第二季度的整体盈利报告预计将非常出色，该季度利润预计同比增长64%。这将是自2009年以来最大的季度利润增幅。</blockquote></p><p> Banks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.</p><p><blockquote>FactSet调查的分析师表示，第二季度银行盈利预计将增长一倍以上，预计同比增长率为119.5%。</blockquote></p><p> In the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&amp;P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.</p><p><blockquote>在周一的常规交易时段，道琼斯指数上涨126.02点，收于略低于35,000点。该蓝筹股指标今年上涨了14%。标准普尔500指数和纳斯达克综合指数分别上涨0.3%和0.2%，创下收盘纪录。</blockquote></p><p> \"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"</p><p><blockquote>Sanctuary Wealth首席投资官杰夫·基尔伯格(Jeff Kilburg)表示：“对盈利的高预期和每家公司的前瞻性指引将推高市场，否则失望可能会导致股市小幅回调。”“人们将关注主要银行，为未来几周的盈利定下基调。”</blockquote></p><p> Bank of America,Citi&nbsp;group,Wells Fargo&nbsp;and&nbsp;Morgan Stanley&nbsp;all ended Monday higher as well. They will report their earnings later in the week.</p><p><blockquote>美国银行、花旗集团、富国银行和摩根士丹利周一也均收高。他们将在本周晚些时候公布收益。</blockquote></p><p> Federal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.</p><p><blockquote>美联储主席杰罗姆·鲍威尔斯定于周三和周四出席国会，提供货币政策的最新情况。他坚称，在就业和通胀目标取得更多进展之前，美联储的宽松政策将保持不变。</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>Dow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow retreats slightly from record as hot inflation report overshadows strong earnings<blockquote>由于热门通胀报告盖过强劲盈利，道琼斯指数从创纪录水平小幅回落</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\">2021-07-13 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.</p><p><blockquote>高于预期的通胀报告盖过了第二季度财报季的强劲开局，周二股市小幅下跌。</blockquote></p><p> The Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&amp;P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.</p><p><blockquote>道琼斯工业平均指数下跌20点，即0.1%。该指标前一天收于略低于35,000点的创纪录水平。标普500下跌0.1%。纳斯达克综合指数也下跌0.1%。</blockquote></p><p> Inflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.</p><p><blockquote>美国劳工部周二报告称，通货膨胀率以近13年来最快的速度上升。居民消费价格指数同比上涨5.4%；道琼斯调查的经济学家预计将上涨5%。不包括食品和能源的核心CPI上涨4.5%，为1991年9月以来该指标的最大涨幅，远高于3.8%的预期。</blockquote></p><p> \"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from&nbsp;here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"</p><p><blockquote>Cornerstone Wealth首席信息官克里夫·霍奇(Cliff Hodge)表示：“今天早上白热化的6月份消费者物价指数(CPI)数据让市场感到紧张。”“展望未来，我们预计这些通胀数据将开始降温。2020年6月是大流行关闭期间核心CPI的绝对低点，因此从这里开始比较变得更加困难。二手车价格同比飙升45%，这不太可能持续在未来几个月。”</blockquote></p><p> The10-year U.S. Treasury yield&nbsp;edged slightly higher following the CPI report.</p><p><blockquote>CPI报告公布后，10年期美国国债收益率小幅走高。</blockquote></p><p> The latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.</p><p><blockquote>最新的通胀数据发布之前，大银行和百事可乐发布了超出华尔街预期的井喷式第二季度收益报告。但由于股市创历史新高，道琼斯工业平均指数略低于35,000点，预期可能高于官方预期。</blockquote></p><p> JPMorgan Chase shares dipped in the premarket even after posting&nbsp;second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.</p><p><blockquote>摩根大通公布第二季度盈利119亿美元，即每股3.78美元，超过了Refinitiv调查的分析师3.21美元的预期，但其股价在盘前仍下跌。</blockquote></p><p> Banks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.</p><p><blockquote>银行为疫情期间的贷款损失预留了数十亿美元，但随着消费者的表现好于预期，银行一直在释放这些准备金。摩根大通在仅冲销7.34亿美元后释放了30亿美元的贷款损失准备金。这给该公司带来了23亿美元的收益，使该银行的盈利超出了预期。由于此次贷款损失准备金的释放，投资者可能会减少对摩根大通盈利超出预期的信任。</blockquote></p><p> Meanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported&nbsp;second-quarter earnings&nbsp;of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.</p><p><blockquote>与此同时，高盛股价在盘前交易中小幅上涨约1%。该公司公布第二季度每股收益为15.02美元，高于分析师预期的每股收益10.24美元。随着上季度华尔街IPO热潮席卷，该银行公布了有史以来第二好的季度投资银行收入。</blockquote></p><p> PepsiCo also crushed estimates for its&nbsp;second-quarter earnings&nbsp;and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.</p><p><blockquote>受餐厅需求回升的推动，百事公司第二季度盈利和收入也超出了预期。这家饮料和零食巨头也上调了预测。股价在盘前交易中上涨超过1%。</blockquote></p><p> Overall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.</p><p><blockquote>FactSet的数据显示，未来几周第二季度的整体盈利报告预计将非常出色，该季度利润预计同比增长64%。这将是自2009年以来最大的季度利润增幅。</blockquote></p><p> Banks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.</p><p><blockquote>FactSet调查的分析师表示，第二季度银行盈利预计将增长一倍以上，预计同比增长率为119.5%。</blockquote></p><p> In the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&amp;P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.</p><p><blockquote>在周一的常规交易时段，道琼斯指数上涨126.02点，收于略低于35,000点。该蓝筹股指标今年上涨了14%。标准普尔500指数和纳斯达克综合指数分别上涨0.3%和0.2%，创下收盘纪录。</blockquote></p><p> \"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"</p><p><blockquote>Sanctuary Wealth首席投资官杰夫·基尔伯格(Jeff Kilburg)表示：“对盈利的高预期和每家公司的前瞻性指引将推高市场，否则失望可能会导致股市小幅回调。”“人们将关注主要银行，为未来几周的盈利定下基调。”</blockquote></p><p> Bank of America,Citi&nbsp;group,Wells Fargo&nbsp;and&nbsp;Morgan Stanley&nbsp;all ended Monday higher as well. They will report their earnings later in the week.</p><p><blockquote>美国银行、花旗集团、富国银行和摩根士丹利周一也均收高。他们将在本周晚些时候公布收益。</blockquote></p><p> Federal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.</p><p><blockquote>美联储主席杰罗姆·鲍威尔斯定于周三和周四出席国会，提供货币政策的最新情况。他坚称，在就业和通胀目标取得更多进展之前，美联储的宽松政策将保持不变。</blockquote></p><p></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111418784","content_text":"Stocks fell slightly on Tuesday after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.\nThe Dow Jones Industrial average shed 20 points, or 0.1%. The measure closed at a record just below 35,000 the day prior. The S&P 500 lost 0.1%. The Nasdaq Composite also fell 0.1%.\nInflation rose at its fastest pace in nearly 13 years,the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago; economists surveyed by Dow Jones expected a 5% gain. Core CPI, excluding food and energy, jumped 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.\n\"A white-hot June CPI print has the markets jittery this morning,\" Cliff Hodge, CIO at Cornerstone Wealth, said. \"Moving forward we expect these inflation numbers to begin to cool. June 2020 was the absolute low for Core CPI during the pandemic shutdown, so the comparisons get tougher from here. Used car prices soared 45% year over year which is not likely to persist in coming months.\"\nThe10-year U.S. Treasury yield edged slightly higher following the CPI report.\nThe latest inflation data came after big banks and PepsiCo posted blowout second-quarter earnings reports beating Wall Street estimates. But with stocks at record highs and the Dow Jones Industrial Average just shy of 35,000, expectations likely ran higher than the official estimates reflected.\nJPMorgan Chase shares dipped in the premarket even after posting second-quarter earningsof $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate of analysts surveyed by Refinitiv.\nBanks set aside billions of dollars for loan losses amid the pandemic, but have been releasing those reserves as consumers performed better than expected. JPMorgan released $3 billion in loan loss reserves after taking just $734 million in charge-offs. That gave the firm a $2.3 billion benefit, allowing the bank to top earnings expectations. Investors may be giving less credit to JPMorgan's earnings beat due to this loan loss reserve release.\nMeanwhile, Goldman Sachs shared edged about 1% higher in premarket trading. The firm reported second-quarter earnings of $15.02 per share, topping analysts' expectation of $10.24 earnings per share. The bank posted its second-best ever quarterly investment banking revenue as a rush of IPOs hit Wall Street last quarter.\nPepsiCo also crushed estimates for its second-quarter earnings and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast. Shares added more than 1% in premarket trading.\nOverall earnings reports are expected to be stellar for the second quarter over the coming weeks with profit growth estimated at 64% year-over-year for the quarter, according to FactSet. That would be the biggest quarterly profit increase since 2009.\nBanks' earnings are expected to more than double for the second quarter, with an estimated 119.5% estimated year-over-year growth rate, according to analysts polled by FactSet.\nIn the regular trading session on Monday theDowrose 126.02 points to close just below 35,000. The blue-chip measure is up 14% this year. TheS&P 500andNasdaq Compositegained 0.3% and 0.2%, respectively, to record closes.\n\"High expectations for earnings and each companies' forward guidance will push markets higher or disappointment may create a small pullback in equity markets,\" said Jeff Kilburg, chief investment officer at Sanctuary Wealth. \"Eyes will be on the major banks to set the tone for the next few weeks of earnings.\"\nBank of America,Citi group,Wells Fargo and Morgan Stanley all ended Monday higher as well. They will report their earnings later in the week.\nFederal Reserve Chairman Jerome Powellis scheduled to appearin front of Congress Wednesday and Thursday to provide an update on monetary policy. He has maintained that the Fed's easy policies will remain intact until there's more progress on its employment and inflation goals.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189098843,"gmtCreate":1623230817782,"gmtModify":1634035569659,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Comment and like!","listText":"Comment and like!","text":"Comment and like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/189098843","repostId":"1154263782","repostType":4,"isVote":1,"tweetType":1,"viewCount":910,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115321004,"gmtCreate":1622952510308,"gmtModify":1634096631629,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115321004","repostId":"2140540596","repostType":4,"isVote":1,"tweetType":1,"viewCount":1084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186306314,"gmtCreate":1623471798538,"gmtModify":1634032677330,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186306314","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-12 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">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":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161213611,"gmtCreate":1623928219933,"gmtModify":1634025775594,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161213611","repostId":"2144748296","repostType":4,"isVote":1,"tweetType":1,"viewCount":2120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163922539,"gmtCreate":1623857487321,"gmtModify":1634026945414,"author":{"id":"3584851873772781","authorId":"3584851873772781","name":"dannytayjy","avatar":"https://static.tigerbbs.com/c5389b99d2b7d7c19400102c0b55a9dc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584851873772781","idStr":"3584851873772781"},"themes":[],"htmlText":":(","listText":":(","text":":(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163922539","repostId":"1160215752","repostType":4,"isVote":1,"tweetType":1,"viewCount":3457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}