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2021-09-18

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

2021-11-10

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2021-08-01

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2021-11-22

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Best Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote>

2021-09-27

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Debt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote>

2021-08-14

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Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>

2021-09-29

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Technically Speaking: Is The Market "Melting-Up?"<blockquote>从技术上讲：市场正在“融化”吗？</blockquote>

2021-08-11

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2021-08-08

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2021-07-12

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639044108,"share":"https://www.laohu8.com/m/news/1160707801?lang=zh_CN&edition=full","pubTime":"2021-12-09 18:01","market":"us","language":"en","title":"GameStop shares dipped nearly 4% in premarket trading<blockquote>游戏驿站股价在盘前交易中下跌近4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160707801","media":"Tiger Newspress","summary":"GameStop shares dipped nearly 4% in premarket trading after the videogame retailer disclosed SEC sub","content":"<p>GameStop shares dipped nearly&nbsp;4% in premarket trading&nbsp;after&nbsp;the videogame retailer&nbsp;disclosed SEC subpoena on trading activity, posted bigger-than-expected loss.</p><p><blockquote>游戏驿站股价在盘前交易中下跌近4%，此前这家视频游戏零售商披露了SEC对交易活动的传票，并公布了超出预期的亏损。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d51c3879b085d94d1e726745bc45953a\" tg-width=\"851\" tg-height=\"616\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Video game retailer GameStop Corp&nbsp;said it was issued a subpoena by the U.S. securities regulator back in August for documents on an investigation into its share trading activity, while reporting a bigger-than-expected quarterly loss.</p><p><blockquote>视频游戏零售商游戏驿站公司表示，早在8月份就收到了美国证券监管机构的传票，要求其提供有关其股票交易活动调查的文件，同时报告季度亏损超出预期。</blockquote></p><p> GameStop was one of the companies whose shares hogged the limelight in this year's meme-stock frenzy, which was led by day traders and fueled by chatter on social media platforms such as Reddit.</p><p><blockquote>游戏驿站是今年迷因股票狂潮中备受瞩目的公司之一，这场狂潮由日内交易者引领，并由Reddit等社交媒体平台上的聊天推动。</blockquote></p><p> \"We are in the process of producing the documents and have been and intend to continue cooperating fully with the SEC Staff regarding this matter,\" GameStop said in a regulatory filing on Wednesday, adding that the inquiry was not expected to have an adverse impact on the company.</p><p><blockquote>游戏驿站在周三的一份监管文件中表示：“我们正在制作文件，并且已经并打算继续就此事与SEC工作人员充分合作。”他补充说，预计调查不会对公司产生不利影响。</blockquote></p><p> On an adjusted basis, the company lost $1.39 per share in the third quarter ended Oct. 30, compared with estimates of a loss of $0.52 per share, according to Refinitiv IBES data.</p><p><blockquote>根据Refinitiv IBES的数据，在调整后的基础上，该公司在截至10月30日的第三季度每股亏损1.39美元，而预计每股亏损0.52美元。</blockquote></p><p> GameStop's business model, which was suffering even before the pandemic hit, was further impacted by the COVID-19 lockdowns, with the company shutting down hundreds of brick-and-mortar stores.</p><p><blockquote>游戏驿站的商业模式甚至在大流行爆发之前就已经受到影响，并受到COVID-19封锁的进一步影响，该公司关闭了数百家实体店。</blockquote></p><p> The company has since then tried to take advantage of the pandemic-fueled demand for online shopping by trying to sell its consoles and games online.</p><p><blockquote>此后，该公司试图利用疫情推动的在线购物需求，尝试在网上销售其游戏机和游戏。</blockquote></p><p> GameStop's overall revenue rose to $1.30 billion, beating estimates of $1.19 billion.</p><p><blockquote>游戏驿站的整体营收升至13亿美元，超出预期的11.9亿美元。</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>GameStop shares dipped nearly 4% in premarket trading<blockquote>游戏驿站股价在盘前交易中下跌近4%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop shares dipped nearly 4% in premarket trading<blockquote>游戏驿站股价在盘前交易中下跌近4%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-09 18:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>GameStop shares dipped nearly&nbsp;4% in premarket trading&nbsp;after&nbsp;the videogame retailer&nbsp;disclosed SEC subpoena on trading activity, posted bigger-than-expected loss.</p><p><blockquote>游戏驿站股价在盘前交易中下跌近4%，此前这家视频游戏零售商披露了SEC对交易活动的传票，并公布了超出预期的亏损。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d51c3879b085d94d1e726745bc45953a\" tg-width=\"851\" tg-height=\"616\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Video game retailer GameStop Corp&nbsp;said it was issued a subpoena by the U.S. securities regulator back in August for documents on an investigation into its share trading activity, while reporting a bigger-than-expected quarterly loss.</p><p><blockquote>视频游戏零售商游戏驿站公司表示，早在8月份就收到了美国证券监管机构的传票，要求其提供有关其股票交易活动调查的文件，同时报告季度亏损超出预期。</blockquote></p><p> GameStop was one of the companies whose shares hogged the limelight in this year's meme-stock frenzy, which was led by day traders and fueled by chatter on social media platforms such as Reddit.</p><p><blockquote>游戏驿站是今年迷因股票狂潮中备受瞩目的公司之一，这场狂潮由日内交易者引领，并由Reddit等社交媒体平台上的聊天推动。</blockquote></p><p> \"We are in the process of producing the documents and have been and intend to continue cooperating fully with the SEC Staff regarding this matter,\" GameStop said in a regulatory filing on Wednesday, adding that the inquiry was not expected to have an adverse impact on the company.</p><p><blockquote>游戏驿站在周三的一份监管文件中表示：“我们正在制作文件，并且已经并打算继续就此事与SEC工作人员充分合作。”他补充说，预计调查不会对公司产生不利影响。</blockquote></p><p> On an adjusted basis, the company lost $1.39 per share in the third quarter ended Oct. 30, compared with estimates of a loss of $0.52 per share, according to Refinitiv IBES data.</p><p><blockquote>根据Refinitiv IBES的数据，在调整后的基础上，该公司在截至10月30日的第三季度每股亏损1.39美元，而预计每股亏损0.52美元。</blockquote></p><p> GameStop's business model, which was suffering even before the pandemic hit, was further impacted by the COVID-19 lockdowns, with the company shutting down hundreds of brick-and-mortar stores.</p><p><blockquote>游戏驿站的商业模式甚至在大流行爆发之前就已经受到影响，并受到COVID-19封锁的进一步影响，该公司关闭了数百家实体店。</blockquote></p><p> The company has since then tried to take advantage of the pandemic-fueled demand for online shopping by trying to sell its consoles and games online.</p><p><blockquote>此后，该公司试图利用疫情推动的在线购物需求，尝试在网上销售其游戏机和游戏。</blockquote></p><p> GameStop's overall revenue rose to $1.30 billion, beating estimates of $1.19 billion.</p><p><blockquote>游戏驿站的整体营收升至13亿美元，超出预期的11.9亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160707801","content_text":"GameStop shares dipped nearly 4% in premarket trading after the videogame retailer disclosed SEC subpoena on trading activity, posted bigger-than-expected loss.\n\nVideo game retailer GameStop Corp said it was issued a subpoena by the U.S. securities regulator back in August for documents on an investigation into its share trading activity, while reporting a bigger-than-expected quarterly loss.\nGameStop was one of the companies whose shares hogged the limelight in this year's meme-stock frenzy, which was led by day traders and fueled by chatter on social media platforms such as Reddit.\n\"We are in the process of producing the documents and have been and intend to continue cooperating fully with the SEC Staff regarding this matter,\" GameStop said in a regulatory filing on Wednesday, adding that the inquiry was not expected to have an adverse impact on the company.\nOn an adjusted basis, the company lost $1.39 per share in the third quarter ended Oct. 30, compared with estimates of a loss of $0.52 per share, according to Refinitiv IBES data.\nGameStop's business model, which was suffering even before the pandemic hit, was further impacted by the COVID-19 lockdowns, with the company shutting down hundreds of brick-and-mortar stores.\nThe company has since then tried to take advantage of the pandemic-fueled demand for online shopping by trying to sell its consoles and games online.\nGameStop's overall revenue rose to $1.30 billion, beating estimates of $1.19 billion.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":3139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602547386,"gmtCreate":1639048275639,"gmtModify":1639048275738,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/602547386","repostId":"1192937541","repostType":4,"repost":{"id":"1192937541","kind":"news","pubTimestamp":1639045976,"share":"https://www.laohu8.com/m/news/1192937541?lang=zh_CN&edition=full","pubTime":"2021-12-09 18:32","market":"us","language":"en","title":"U.S. Stock Futures Wobble on Omicron Restrictions<blockquote>美国股指期货因奥密克戎限制而波动</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192937541","media":"Wall Street Journal","summary":"U.S. stock futures edged down as investors assessed the latest headlines on restrictions to limit th","content":"<p>U.S. stock futures edged down as investors assessed the latest headlines on restrictions to limit the spread of the Omicron variant.</p><p><blockquote>由于投资者评估了有关限制奥密克戎变种传播的限制措施的最新头条新闻，美国股指期货小幅下跌。</blockquote></p><p> Futures tied to the S&amp;P 500 retreated 0.3% Thursday, suggesting the broad-market index is set to pull back moderately after&nbsp;closing up 0.3% Wednesday. Dow Jones Industrial Average futures also slid 0.3% and Nasdaq-100 futures ticked down 0.2%.</p><p><blockquote>与标普500相关的期货周四下跌0.3%，表明大盘指数在周三收盘上涨0.3%后将小幅回调。道琼斯工业平均指数期货也下跌0.3%，纳斯达克100指数期货下跌0.2%。</blockquote></p><p> Stocks have swung in recent weeks, buffeted by conflicting headlines on the Omicron coronavirus variant and mixed signals on the health of the economy. Investors are still awaiting further data on the strain’s severity and vaccine efficacy. Some pharmaceutical companies including&nbsp;Pfizer&nbsp;and&nbsp;Glaxo&nbsp;Smith&nbsp;Kline&nbsp;have said this week that their shot and antibody treatment appears to work in early-stage studies.</p><p><blockquote>最近几周，受有关奥密克戎冠状病毒变种的相互矛盾的头条新闻和有关经济健康状况的混合信号的打击，股市出现波动。投资者仍在等待有关该毒株严重程度和疫苗效力的进一步数据。包括辉瑞和葛兰素史克在内的一些制药公司本周表示，他们的疫苗和抗体治疗在早期研究中似乎有效。</blockquote></p><p> European governments have moved to tighten restrictions, spurring concerns about setbacks to the economic recovery. U.K. Prime Minister Johnson outlined a new&nbsp;work-from-home mandate&nbsp;and mask guidelines on Wednesday evening. A study released by a Japanese scientist said the variant was four times more transmissible than the Delta strain.</p><p><blockquote>欧洲各国政府已采取行动收紧限制，引发人们对经济复苏受挫的担忧。英国首相约翰逊周三晚上概述了新的在家工作规定和口罩指南。日本科学家发布的一项研究称，该变种的传播力是德尔塔毒株的四倍。</blockquote></p><p> “There’s still a lot we don’t know, we’re waiting for details to emerge,” said Arun Sai, a multi-asset strategist at Pictet Asset Management. On restrictions, “as long as it’s temporary, it doesn’t completely derail the recovery. We now know the playbook. We’re talking about a one or two quarter postponement of a recovery in services, that’s the critical element that’s at risk here.”</p><p><blockquote>百达资产管理公司(Pictet Asset Management)多资产策略师阿伦·赛(Arun Sai)表示：“还有很多事情我们不知道，我们正在等待细节的出现。”关于限制，“只要是暂时的，就不会完全破坏复苏。我们现在知道了剧本。我们谈论的是服务业复苏推迟一两个季度，这是这里面临风险的关键因素。”</blockquote></p><p> The yield on the benchmark 10-year Treasury note edged down to 1.494% Thursday from 1.508% Wednesday.</p><p><blockquote>基准10年期国债收益率从周三的1.508%小幅降至周四的1.494%。</blockquote></p><p> China’s producer-price index showed a&nbsp;12.9% increase in November&nbsp;from a year earlier, a decline from the previous month but still more than economists expected. Consumer prices also rose.</p><p><blockquote>11月份中国生产者价格指数同比上涨12.消费价格也有所上涨。</blockquote></p><p> “Factory gate prices only showed modest signs of slowing,” which may signal that higher inflation will remain in place in the coming months, said Michael Hewson, a chief markets analyst at CMC Markets. China’s producer prices drive consumer prices around the world, he added.</p><p><blockquote>CMC Markets首席市场分析师迈克尔·休森(Michael Hewson)表示，“出厂价格仅显示出温和放缓的迹象”，这可能表明未来几个月通胀将持续走高。他补充说，中国的生产者价格推动了世界各地的消费者价格。</blockquote></p><p> In Asia, major benchmarks were mixed. The Shanghai Composite Index advanced 1%, while Hong Kong’s Hang Seng Index climbed 1.1%. Japan’s Nikkei 225 slid 0.5%, boosted by gains in technology stocks.</p><p><blockquote>在亚洲，主要基准涨跌互现。上证综合指数上涨1%，恒生指数上涨1.1%。受科技股上涨提振，日本日经225指数下跌0.5%。</blockquote></p><p> In Europe, the pan-continental Stoxx Europe 600 ticked up 0.2%. Rolls Royce shares declined 4.4% after the company released an update that showed it had a long way to go before meeting its cash-flow target and which will depend on international travel being allowed, Mr. Hewson said.</p><p><blockquote>在欧洲，泛大陆斯托克欧洲600指数上涨0.2%。休森表示，劳斯莱斯发布更新后，该公司股价下跌4.4%，该公司距离实现现金流目标还有很长的路要走，这将取决于是否允许国际旅行。</blockquote></p><p> In the U.S., cloud-computing firmOracle,&nbsp;network company&nbsp;Broadcom&nbsp;and wholesaler Costco are set to report Thursday after market close. Popular meme stock&nbsp;GameStop&nbsp;declined 3.2% in off-hours trading after the company posted earnings that showed a&nbsp;widening loss last quarter.</p><p><blockquote>在美国，云计算公司甲骨文、网络公司博通和批发商好市多将于周四收盘后发布报告。热门模因股票游戏驿站在盘后交易中下跌3.2%，此前该公司公布的财报显示上季度亏损扩大。</blockquote></p><p> “Earnings have been strong overall, it’s a really positive underlying driver for equity markets,” said Kiran Ganesh, a multi-asset strategist at UBS Global Wealth Management.</p><p><blockquote>瑞银全球财富管理多资产策略师基兰·加内什(Kiran Ganesh)表示：“整体盈利强劲，这对股市来说是一个非常积极的潜在驱动因素。”</blockquote></p><p> Shares of&nbsp;Amazon.com&nbsp;declined 0.2% premarket after the Italian government fined it $1.3 billion for&nbsp;alleged abuse of market dominance. The European Union is also investigating the e-commerce giant in a similar antitrust case.</p><p><blockquote>亚马逊股价盘前下跌0.2%，此前意大利政府因涉嫌滥用市场支配地位对其处以13亿美元罚款。欧盟也在类似的反垄断案件中调查这家电子商务巨头。</blockquote></p><p> Fresh data on U.S. jobless claims, a proxy for layoffs, is set to go out at 8:30 a.m. ET. Economists are forecasting that the level will remain near pandemic lows. It has come close to the pre-pandemic average in recent weeks in a sign that the labor market is improving.</p><p><blockquote>代表裁员的美国初请失业金人数的最新数据将于美国东部时间上午8:30公布。经济学家预测，这一水平将保持在疫情低点附近。最近几周已接近大流行前的平均水平，表明劳动力市场正在改善。</blockquote></p><p> Oil prices wavered between small gains and losses. Global benchmark Brent crude declined 0.2% and traded at $75.61 a barrel. It has risen more than 8% this week, lifted by early indications that the Omicron variant may not weigh on energy demand as much as feared, according to analysts at ANZ.</p><p><blockquote>油价在小幅涨跌之间波动。全球基准布伦特原油下跌0.2%，至每桶75.61美元。澳新银行分析师表示，由于早期迹象表明奥密克戎变种可能不会像人们担心的那样对能源需求造成压力，本周该股已上涨超过8%。</blockquote></p><p> Bitcoin reversed direction after four days of gains, slipping 2% from its level at 5 p.m. Wednesday. It traded below $50,000, a 28% drop from its record high set in November.</p><p><blockquote>比特币在连续四天上涨后逆转方向，较下午5点的水平下跌2%。星期三。其交易价格低于50,000美元，较11月份创下的历史高点下跌了28%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stock Futures Wobble on Omicron Restrictions<blockquote>美国股指期货因奥密克戎限制而波动</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stock Futures Wobble on Omicron Restrictions<blockquote>美国股指期货因奥密克戎限制而波动</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wall Street Journal</strong><span class=\"h-time small\">2021-12-09 18:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. stock futures edged down as investors assessed the latest headlines on restrictions to limit the spread of the Omicron variant.</p><p><blockquote>由于投资者评估了有关限制奥密克戎变种传播的限制措施的最新头条新闻，美国股指期货小幅下跌。</blockquote></p><p> Futures tied to the S&amp;P 500 retreated 0.3% Thursday, suggesting the broad-market index is set to pull back moderately after&nbsp;closing up 0.3% Wednesday. Dow Jones Industrial Average futures also slid 0.3% and Nasdaq-100 futures ticked down 0.2%.</p><p><blockquote>与标普500相关的期货周四下跌0.3%，表明大盘指数在周三收盘上涨0.3%后将小幅回调。道琼斯工业平均指数期货也下跌0.3%，纳斯达克100指数期货下跌0.2%。</blockquote></p><p> Stocks have swung in recent weeks, buffeted by conflicting headlines on the Omicron coronavirus variant and mixed signals on the health of the economy. Investors are still awaiting further data on the strain’s severity and vaccine efficacy. Some pharmaceutical companies including&nbsp;Pfizer&nbsp;and&nbsp;Glaxo&nbsp;Smith&nbsp;Kline&nbsp;have said this week that their shot and antibody treatment appears to work in early-stage studies.</p><p><blockquote>最近几周，受有关奥密克戎冠状病毒变种的相互矛盾的头条新闻和有关经济健康状况的混合信号的打击，股市出现波动。投资者仍在等待有关该毒株严重程度和疫苗效力的进一步数据。包括辉瑞和葛兰素史克在内的一些制药公司本周表示，他们的疫苗和抗体治疗在早期研究中似乎有效。</blockquote></p><p> European governments have moved to tighten restrictions, spurring concerns about setbacks to the economic recovery. U.K. Prime Minister Johnson outlined a new&nbsp;work-from-home mandate&nbsp;and mask guidelines on Wednesday evening. A study released by a Japanese scientist said the variant was four times more transmissible than the Delta strain.</p><p><blockquote>欧洲各国政府已采取行动收紧限制，引发人们对经济复苏受挫的担忧。英国首相约翰逊周三晚上概述了新的在家工作规定和口罩指南。日本科学家发布的一项研究称，该变种的传播力是德尔塔毒株的四倍。</blockquote></p><p> “There’s still a lot we don’t know, we’re waiting for details to emerge,” said Arun Sai, a multi-asset strategist at Pictet Asset Management. On restrictions, “as long as it’s temporary, it doesn’t completely derail the recovery. We now know the playbook. We’re talking about a one or two quarter postponement of a recovery in services, that’s the critical element that’s at risk here.”</p><p><blockquote>百达资产管理公司(Pictet Asset Management)多资产策略师阿伦·赛(Arun Sai)表示：“还有很多事情我们不知道，我们正在等待细节的出现。”关于限制，“只要是暂时的，就不会完全破坏复苏。我们现在知道了剧本。我们谈论的是服务业复苏推迟一两个季度，这是这里面临风险的关键因素。”</blockquote></p><p> The yield on the benchmark 10-year Treasury note edged down to 1.494% Thursday from 1.508% Wednesday.</p><p><blockquote>基准10年期国债收益率从周三的1.508%小幅降至周四的1.494%。</blockquote></p><p> China’s producer-price index showed a&nbsp;12.9% increase in November&nbsp;from a year earlier, a decline from the previous month but still more than economists expected. Consumer prices also rose.</p><p><blockquote>11月份中国生产者价格指数同比上涨12.消费价格也有所上涨。</blockquote></p><p> “Factory gate prices only showed modest signs of slowing,” which may signal that higher inflation will remain in place in the coming months, said Michael Hewson, a chief markets analyst at CMC Markets. China’s producer prices drive consumer prices around the world, he added.</p><p><blockquote>CMC Markets首席市场分析师迈克尔·休森(Michael Hewson)表示，“出厂价格仅显示出温和放缓的迹象”，这可能表明未来几个月通胀将持续走高。他补充说，中国的生产者价格推动了世界各地的消费者价格。</blockquote></p><p> In Asia, major benchmarks were mixed. The Shanghai Composite Index advanced 1%, while Hong Kong’s Hang Seng Index climbed 1.1%. Japan’s Nikkei 225 slid 0.5%, boosted by gains in technology stocks.</p><p><blockquote>在亚洲，主要基准涨跌互现。上证综合指数上涨1%，恒生指数上涨1.1%。受科技股上涨提振，日本日经225指数下跌0.5%。</blockquote></p><p> In Europe, the pan-continental Stoxx Europe 600 ticked up 0.2%. Rolls Royce shares declined 4.4% after the company released an update that showed it had a long way to go before meeting its cash-flow target and which will depend on international travel being allowed, Mr. Hewson said.</p><p><blockquote>在欧洲，泛大陆斯托克欧洲600指数上涨0.2%。休森表示，劳斯莱斯发布更新后，该公司股价下跌4.4%，该公司距离实现现金流目标还有很长的路要走，这将取决于是否允许国际旅行。</blockquote></p><p> In the U.S., cloud-computing firmOracle,&nbsp;network company&nbsp;Broadcom&nbsp;and wholesaler Costco are set to report Thursday after market close. Popular meme stock&nbsp;GameStop&nbsp;declined 3.2% in off-hours trading after the company posted earnings that showed a&nbsp;widening loss last quarter.</p><p><blockquote>在美国，云计算公司甲骨文、网络公司博通和批发商好市多将于周四收盘后发布报告。热门模因股票游戏驿站在盘后交易中下跌3.2%，此前该公司公布的财报显示上季度亏损扩大。</blockquote></p><p> “Earnings have been strong overall, it’s a really positive underlying driver for equity markets,” said Kiran Ganesh, a multi-asset strategist at UBS Global Wealth Management.</p><p><blockquote>瑞银全球财富管理多资产策略师基兰·加内什(Kiran Ganesh)表示：“整体盈利强劲，这对股市来说是一个非常积极的潜在驱动因素。”</blockquote></p><p> Shares of&nbsp;Amazon.com&nbsp;declined 0.2% premarket after the Italian government fined it $1.3 billion for&nbsp;alleged abuse of market dominance. The European Union is also investigating the e-commerce giant in a similar antitrust case.</p><p><blockquote>亚马逊股价盘前下跌0.2%，此前意大利政府因涉嫌滥用市场支配地位对其处以13亿美元罚款。欧盟也在类似的反垄断案件中调查这家电子商务巨头。</blockquote></p><p> Fresh data on U.S. jobless claims, a proxy for layoffs, is set to go out at 8:30 a.m. ET. Economists are forecasting that the level will remain near pandemic lows. It has come close to the pre-pandemic average in recent weeks in a sign that the labor market is improving.</p><p><blockquote>代表裁员的美国初请失业金人数的最新数据将于美国东部时间上午8:30公布。经济学家预测，这一水平将保持在疫情低点附近。最近几周已接近大流行前的平均水平，表明劳动力市场正在改善。</blockquote></p><p> Oil prices wavered between small gains and losses. Global benchmark Brent crude declined 0.2% and traded at $75.61 a barrel. It has risen more than 8% this week, lifted by early indications that the Omicron variant may not weigh on energy demand as much as feared, according to analysts at ANZ.</p><p><blockquote>油价在小幅涨跌之间波动。全球基准布伦特原油下跌0.2%，至每桶75.61美元。澳新银行分析师表示，由于早期迹象表明奥密克戎变种可能不会像人们担心的那样对能源需求造成压力，本周该股已上涨超过8%。</blockquote></p><p> Bitcoin reversed direction after four days of gains, slipping 2% from its level at 5 p.m. Wednesday. It traded below $50,000, a 28% drop from its record high set in November.</p><p><blockquote>比特币在连续四天上涨后逆转方向，较下午5点的水平下跌2%。星期三。其交易价格低于50,000美元，较11月份创下的历史高点下跌了28%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/global-stock-markets-dow-update-12-09-2021-11639038586?mod=markets_lead_pos4\">Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/global-stock-markets-dow-update-12-09-2021-11639038586?mod=markets_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192937541","content_text":"U.S. stock futures edged down as investors assessed the latest headlines on restrictions to limit the spread of the Omicron variant.\nFutures tied to the S&P 500 retreated 0.3% Thursday, suggesting the broad-market index is set to pull back moderately after closing up 0.3% Wednesday. Dow Jones Industrial Average futures also slid 0.3% and Nasdaq-100 futures ticked down 0.2%.\nStocks have swung in recent weeks, buffeted by conflicting headlines on the Omicron coronavirus variant and mixed signals on the health of the economy. Investors are still awaiting further data on the strain’s severity and vaccine efficacy. Some pharmaceutical companies including Pfizer and Glaxo Smith Kline have said this week that their shot and antibody treatment appears to work in early-stage studies.\nEuropean governments have moved to tighten restrictions, spurring concerns about setbacks to the economic recovery. U.K. Prime Minister Johnson outlined a new work-from-home mandate and mask guidelines on Wednesday evening. A study released by a Japanese scientist said the variant was four times more transmissible than the Delta strain.\n“There’s still a lot we don’t know, we’re waiting for details to emerge,” said Arun Sai, a multi-asset strategist at Pictet Asset Management. On restrictions, “as long as it’s temporary, it doesn’t completely derail the recovery. We now know the playbook. We’re talking about a one or two quarter postponement of a recovery in services, that’s the critical element that’s at risk here.”\nThe yield on the benchmark 10-year Treasury note edged down to 1.494% Thursday from 1.508% Wednesday.\nChina’s producer-price index showed a 12.9% increase in November from a year earlier, a decline from the previous month but still more than economists expected. Consumer prices also rose.\n“Factory gate prices only showed modest signs of slowing,” which may signal that higher inflation will remain in place in the coming months, said Michael Hewson, a chief markets analyst at CMC Markets. China’s producer prices drive consumer prices around the world, he added.\nIn Asia, major benchmarks were mixed. The Shanghai Composite Index advanced 1%, while Hong Kong’s Hang Seng Index climbed 1.1%. Japan’s Nikkei 225 slid 0.5%, boosted by gains in technology stocks.\nIn Europe, the pan-continental Stoxx Europe 600 ticked up 0.2%. Rolls Royce shares declined 4.4% after the company released an update that showed it had a long way to go before meeting its cash-flow target and which will depend on international travel being allowed, Mr. Hewson said.\nIn the U.S., cloud-computing firmOracle, network company Broadcom and wholesaler Costco are set to report Thursday after market close. Popular meme stock GameStop declined 3.2% in off-hours trading after the company posted earnings that showed a widening loss last quarter.\n“Earnings have been strong overall, it’s a really positive underlying driver for equity markets,” said Kiran Ganesh, a multi-asset strategist at UBS Global Wealth Management.\nShares of Amazon.com declined 0.2% premarket after the Italian government fined it $1.3 billion for alleged abuse of market dominance. The European Union is also investigating the e-commerce giant in a similar antitrust case.\nFresh data on U.S. jobless claims, a proxy for layoffs, is set to go out at 8:30 a.m. ET. Economists are forecasting that the level will remain near pandemic lows. It has come close to the pre-pandemic average in recent weeks in a sign that the labor market is improving.\nOil prices wavered between small gains and losses. Global benchmark Brent crude declined 0.2% and traded at $75.61 a barrel. It has risen more than 8% this week, lifted by early indications that the Omicron variant may not weigh on energy demand as much as feared, according to analysts at ANZ.\nBitcoin reversed direction after four days of gains, slipping 2% from its level at 5 p.m. Wednesday. It traded below $50,000, a 28% drop from its record high set in November.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606667676,"gmtCreate":1638873510335,"gmtModify":1638873668504,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606667676","repostId":"1189504982","repostType":2,"repost":{"id":"1189504982","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638865865,"share":"https://www.laohu8.com/m/news/1189504982?lang=zh_CN&edition=full","pubTime":"2021-12-07 16:31","market":"hk","language":"zh","title":"综述：气势如虹！恒生科指大涨4%，阿里涨超12%","url":"https://stock-news.laohu8.com/highlight/detail?id=1189504982","media":"老虎资讯综合","summary":"要闻回顾：\n央行下调支农、支小再贷款利率0.25个百分点\n记者从多个信源了解到，支农、支小再贷款自2021年12月7日起下调0.25个百分点，下调后3个月、6个月、1年期再贷款利率分别为1.7%、1.","content":"<p><b>要闻回顾：</b></p>\n<p><b>央行下调支农、支小再贷款利率0.25个百分点</b></p>\n<p>记者从多个信源了解到，支农、支小再贷款自2021年12月7日起下调0.25个百分点，下调后3个月、6个月、1年期再贷款利率分别为1.7%、1.9%、2%。这是时隔一年多人民银行再度下调支农、支小再贷款利率。2020年7月，央行彼时下调支农、支小再贷款利率0.25个百分点。</p>\n<p><b>清华大学、<a href=\"https://laohu8.com/S/688551\">科威尔</a>、国鸿氢能签订合作协议 联合攻关燃料电池测试领域关键问题</b></p>\n<p>12月7日，清华大学、<a href=\"https://laohu8.com/S/688551\">科威尔</a>、国鸿氢能在清华大学签订合作协议。三方达成合作意愿，项目由科威尔牵头，通过清华大学裴普成教授团队研究和评价快速活化方法、科威尔开发匹配工艺设备及国鸿氢能验证活化方法和设备，力争推动解决“燃料电池快速活化”这一制约燃料电池批量生产的共性关键问题，从而扩大清华大学研究成果转化的社会效益，增强科威尔、国鸿氢能企业的产品市场竞争力。</p>\n<p><b>海关总署：今年前11个月我国进出口总值同比增长22% 超过去年全年水平</b></p>\n<p>海关总署7日发布数据显示，11月份，我国进出口总值3.72万亿元，同比增长20.5%，环比增长11.4%，比2019年同期增长29.6%。今年前11个月，我国进出口总值35.39万亿元人民币，同比增长22%，超过去年全年的32.16万亿元水平，比2019年同期增长24%。其中，出口19.58万亿元，同比增长21.8%，比2019年同期增长25.8%；进口15.81万亿元，同比增长22.2%，比2019年同期增长21.8%；贸易顺差3.77万亿元，同比增加20.1%。</p>\n<p><b>中汽协：1-10月前十家客车企业共销售35.12万辆 占客车销售总量的87.62%</b></p>\n<p>据中国汽车工业协会统计分析，2021年1-10月，客车销量排名前十位的企业依次为：江铃股份、上汽大通、<a href=\"https://laohu8.com/S/000625\">长安汽车</a>、北汽福田、<a href=\"https://laohu8.com/S/600066\">宇通客车</a>、南京依维柯、金龙联合、厦门金旅、东风公司和华晨<a href=\"https://laohu8.com/S/0NQF.UK\">雷诺</a>。与上年同期相比，金龙联合销量略降，其他企业保持较快增长，东风公司增速更为显著。2021年1-10月，上述十家企业共销售35.12万辆，占客车销售总量的87.62%。</p>\n<p><b>港股</b></p>\n<p><b>恒生科技指数涨近4% <a href=\"https://laohu8.com/S/09988\">阿里巴巴</a>涨超12%</b></p>\n<p>港股今日大反弹，此前连续下跌的科技股领衔上涨，致恒生科技指数大幅收涨4.21%，昨日创上市新低，恒指涨2.72%上扬超600点，国指涨3.05%。</p>\n<p>回港中概股、地产股、航空股、SaaS概念股表现强势，<a href=\"https://laohu8.com/S/01918\">融创中国</a>涨超16%，<a href=\"https://laohu8.com/S/00909\">明源云</a>涨超15%，<a href=\"https://laohu8.com/S/09988\">阿里巴巴</a>涨超12%创单日最大涨幅，南航、国航涨超5%。</p>\n<p><b>A股</b></p>\n<p><b>创业板指跌逾1% 北向资金净买入近80亿元</b></p>\n<p>三大指数涨跌不一，沪指收涨0.16%，深成指跌0.38%，盘中一度跌近2%的创业板收跌1.09%。</p>\n<p>房地产板块走强，<a href=\"https://laohu8.com/S/600638\">新黄浦</a>、<a href=\"https://laohu8.com/S/000736\">中交地产</a>2连板；家装、家电板块联动上涨，<a href=\"https://laohu8.com/S/002572\">索菲亚</a>、<a href=\"https://laohu8.com/S/002508\">老板电器</a>等近10股涨停。ST板块个股再掀涨停潮，板块内超40股涨停。锂电、军工、半导体等高景气赛道板块集体下挫，权重股<a href=\"https://laohu8.com/S/300750\">宁德时代</a>盘中一度跌近7%，全天成交额近140亿元。总体上个股普遍下跌，超2700家飘绿，沪深两市成交额连续第33个交易日突破万亿。盘面上，厨卫电器、房地产、机场航运、食品加工等板块涨幅前列，盐湖提锂、氟化工、国防军工、半导体芯片等板块跌幅居前。截止收盘，沪指涨0.16%，深成指跌0.38%，创业板指跌1.09%。北向资金全天净买入近80亿元，为连续第5日净买入。</p>\n<p><b>美股</b></p>\n<p>美国三大股指期货全面反弹，截至发稿，道指期货涨0.67%；标普500指数期货涨0.76%；纳斯达克100指数期货涨0.96%。<img src=\"https://static.tigerbbs.com/95398f412f17379255f5e2796085c005\" tg-width=\"373\" tg-height=\"124\" referrerpolicy=\"no-referrer\"><b>欧股</b></p>\n<p>欧洲主要指数全线上涨，欧洲斯托克50指数涨1.50%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.74%，德国DAX30指数涨1.28%。</p>\n<p><img src=\"https://static.tigerbbs.com/3ccfe469f8987a62147c69de4ec7cb58\" tg-width=\"636\" tg-height=\"240\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p><b>原油</b><img src=\"https://static.tigerbbs.com/4f8c48d187643d0ee389a85d1ddc29e7\" tg-width=\"625\" tg-height=\"48\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p>国际油价上涨，美油报71.02美元/桶，日内涨幅2.20%；布油现报74.43美元/桶，日内涨幅1.85%。</p>\n<p>原油延续昨日反弹势头，布油和美油均站上70美元，昨日涨幅接近5%，市场对Omicron的担忧有所缓和，同时伊核协议谈判仍然没有取得实质性进展。</p>\n<p>南非公共卫生专家Ntsakisi Maluleke上周末表示，Omicron新冠肺炎患者只出现了轻微的症状。美国国家过敏和传染病研究所所长Anthony Fuci也表示，到目前为止，“看起来情况并不严重”。澳新银行(ANZ)分析师表示：“这降低了将出现最坏情况的可能性，而市场此前是根据最坏情况定价的。”</p>\n<p>此外，沙特阿拉伯在本周早些时候上调了对亚洲和美国1月份原油售价，显示了沙特对需求前景的信心。</p>\n<p>另一方面，伊朗与美国恢复2015年核协议的间接谈判遇阻，这将阻碍伊朗石油重返市场。澳大利亚联邦银行大宗商品分析师Vivek Dhar在一份报告中表示：“本周晚些时候虽然会再次谈判，也有可能成功，但伊朗石油出口不会那么快恢复，而利多油价，并支持欧佩克+在2022年前继续增产。”</p>\n<p><b>黄金</b><img src=\"https://static.tigerbbs.com/3813178b86b9af8ab4f5ace62a1987e6\" tg-width=\"628\" tg-height=\"27\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p>现货黄金日内微涨0.16%，报1782.40美元/盎司。</p>\n<p>消息面上，美联储或于下周的会议上宣布加速Taper，购债计划预计将提前至明年3月结束。美联储官员或在该会议上修改其政策声明，点阵图可能会显示，大多数与会者认为明年将至少加息25个基点。</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>综述：气势如虹！恒生科指大涨4%，阿里涨超12%</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n综述：气势如虹！恒生科指大涨4%，阿里涨超12%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-12-07 16:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>要闻回顾：</b></p>\n<p><b>央行下调支农、支小再贷款利率0.25个百分点</b></p>\n<p>记者从多个信源了解到，支农、支小再贷款自2021年12月7日起下调0.25个百分点，下调后3个月、6个月、1年期再贷款利率分别为1.7%、1.9%、2%。这是时隔一年多人民银行再度下调支农、支小再贷款利率。2020年7月，央行彼时下调支农、支小再贷款利率0.25个百分点。</p>\n<p><b>清华大学、<a href=\"https://laohu8.com/S/688551\">科威尔</a>、国鸿氢能签订合作协议 联合攻关燃料电池测试领域关键问题</b></p>\n<p>12月7日，清华大学、<a href=\"https://laohu8.com/S/688551\">科威尔</a>、国鸿氢能在清华大学签订合作协议。三方达成合作意愿，项目由科威尔牵头，通过清华大学裴普成教授团队研究和评价快速活化方法、科威尔开发匹配工艺设备及国鸿氢能验证活化方法和设备，力争推动解决“燃料电池快速活化”这一制约燃料电池批量生产的共性关键问题，从而扩大清华大学研究成果转化的社会效益，增强科威尔、国鸿氢能企业的产品市场竞争力。</p>\n<p><b>海关总署：今年前11个月我国进出口总值同比增长22% 超过去年全年水平</b></p>\n<p>海关总署7日发布数据显示，11月份，我国进出口总值3.72万亿元，同比增长20.5%，环比增长11.4%，比2019年同期增长29.6%。今年前11个月，我国进出口总值35.39万亿元人民币，同比增长22%，超过去年全年的32.16万亿元水平，比2019年同期增长24%。其中，出口19.58万亿元，同比增长21.8%，比2019年同期增长25.8%；进口15.81万亿元，同比增长22.2%，比2019年同期增长21.8%；贸易顺差3.77万亿元，同比增加20.1%。</p>\n<p><b>中汽协：1-10月前十家客车企业共销售35.12万辆 占客车销售总量的87.62%</b></p>\n<p>据中国汽车工业协会统计分析，2021年1-10月，客车销量排名前十位的企业依次为：江铃股份、上汽大通、<a href=\"https://laohu8.com/S/000625\">长安汽车</a>、北汽福田、<a href=\"https://laohu8.com/S/600066\">宇通客车</a>、南京依维柯、金龙联合、厦门金旅、东风公司和华晨<a href=\"https://laohu8.com/S/0NQF.UK\">雷诺</a>。与上年同期相比，金龙联合销量略降，其他企业保持较快增长，东风公司增速更为显著。2021年1-10月，上述十家企业共销售35.12万辆，占客车销售总量的87.62%。</p>\n<p><b>港股</b></p>\n<p><b>恒生科技指数涨近4% <a href=\"https://laohu8.com/S/09988\">阿里巴巴</a>涨超12%</b></p>\n<p>港股今日大反弹，此前连续下跌的科技股领衔上涨，致恒生科技指数大幅收涨4.21%，昨日创上市新低，恒指涨2.72%上扬超600点，国指涨3.05%。</p>\n<p>回港中概股、地产股、航空股、SaaS概念股表现强势，<a href=\"https://laohu8.com/S/01918\">融创中国</a>涨超16%，<a href=\"https://laohu8.com/S/00909\">明源云</a>涨超15%，<a href=\"https://laohu8.com/S/09988\">阿里巴巴</a>涨超12%创单日最大涨幅，南航、国航涨超5%。</p>\n<p><b>A股</b></p>\n<p><b>创业板指跌逾1% 北向资金净买入近80亿元</b></p>\n<p>三大指数涨跌不一，沪指收涨0.16%，深成指跌0.38%，盘中一度跌近2%的创业板收跌1.09%。</p>\n<p>房地产板块走强，<a href=\"https://laohu8.com/S/600638\">新黄浦</a>、<a href=\"https://laohu8.com/S/000736\">中交地产</a>2连板；家装、家电板块联动上涨，<a href=\"https://laohu8.com/S/002572\">索菲亚</a>、<a href=\"https://laohu8.com/S/002508\">老板电器</a>等近10股涨停。ST板块个股再掀涨停潮，板块内超40股涨停。锂电、军工、半导体等高景气赛道板块集体下挫，权重股<a href=\"https://laohu8.com/S/300750\">宁德时代</a>盘中一度跌近7%，全天成交额近140亿元。总体上个股普遍下跌，超2700家飘绿，沪深两市成交额连续第33个交易日突破万亿。盘面上，厨卫电器、房地产、机场航运、食品加工等板块涨幅前列，盐湖提锂、氟化工、国防军工、半导体芯片等板块跌幅居前。截止收盘，沪指涨0.16%，深成指跌0.38%，创业板指跌1.09%。北向资金全天净买入近80亿元，为连续第5日净买入。</p>\n<p><b>美股</b></p>\n<p>美国三大股指期货全面反弹，截至发稿，道指期货涨0.67%；标普500指数期货涨0.76%；纳斯达克100指数期货涨0.96%。<img src=\"https://static.tigerbbs.com/95398f412f17379255f5e2796085c005\" tg-width=\"373\" tg-height=\"124\" referrerpolicy=\"no-referrer\"><b>欧股</b></p>\n<p>欧洲主要指数全线上涨，欧洲斯托克50指数涨1.50%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.74%，德国DAX30指数涨1.28%。</p>\n<p><img src=\"https://static.tigerbbs.com/3ccfe469f8987a62147c69de4ec7cb58\" tg-width=\"636\" tg-height=\"240\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p><b>原油</b><img src=\"https://static.tigerbbs.com/4f8c48d187643d0ee389a85d1ddc29e7\" tg-width=\"625\" tg-height=\"48\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p>国际油价上涨，美油报71.02美元/桶，日内涨幅2.20%；布油现报74.43美元/桶，日内涨幅1.85%。</p>\n<p>原油延续昨日反弹势头，布油和美油均站上70美元，昨日涨幅接近5%，市场对Omicron的担忧有所缓和，同时伊核协议谈判仍然没有取得实质性进展。</p>\n<p>南非公共卫生专家Ntsakisi Maluleke上周末表示，Omicron新冠肺炎患者只出现了轻微的症状。美国国家过敏和传染病研究所所长Anthony Fuci也表示，到目前为止，“看起来情况并不严重”。澳新银行(ANZ)分析师表示：“这降低了将出现最坏情况的可能性，而市场此前是根据最坏情况定价的。”</p>\n<p>此外，沙特阿拉伯在本周早些时候上调了对亚洲和美国1月份原油售价，显示了沙特对需求前景的信心。</p>\n<p>另一方面，伊朗与美国恢复2015年核协议的间接谈判遇阻，这将阻碍伊朗石油重返市场。澳大利亚联邦银行大宗商品分析师Vivek Dhar在一份报告中表示：“本周晚些时候虽然会再次谈判，也有可能成功，但伊朗石油出口不会那么快恢复，而利多油价，并支持欧佩克+在2022年前继续增产。”</p>\n<p><b>黄金</b><img src=\"https://static.tigerbbs.com/3813178b86b9af8ab4f5ace62a1987e6\" tg-width=\"628\" tg-height=\"27\" referrerpolicy=\"no-referrer\">来源：英为财情Investing.com</p>\n<p>现货黄金日内微涨0.16%，报1782.40美元/盎司。</p>\n<p>消息面上，美联储或于下周的会议上宣布加速Taper，购债计划预计将提前至明年3月结束。美联储官员或在该会议上修改其政策声明，点阵图可能会显示，大多数与会者认为明年将至少加息25个基点。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"HSTECH":"恒生科技指数","HSCCI":"红筹指数","HSI":"恒生指数","HSCEI":"国企指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189504982","content_text":"要闻回顾：\n央行下调支农、支小再贷款利率0.25个百分点\n记者从多个信源了解到，支农、支小再贷款自2021年12月7日起下调0.25个百分点，下调后3个月、6个月、1年期再贷款利率分别为1.7%、1.9%、2%。这是时隔一年多人民银行再度下调支农、支小再贷款利率。2020年7月，央行彼时下调支农、支小再贷款利率0.25个百分点。\n清华大学、科威尔、国鸿氢能签订合作协议 联合攻关燃料电池测试领域关键问题\n12月7日，清华大学、科威尔、国鸿氢能在清华大学签订合作协议。三方达成合作意愿，项目由科威尔牵头，通过清华大学裴普成教授团队研究和评价快速活化方法、科威尔开发匹配工艺设备及国鸿氢能验证活化方法和设备，力争推动解决“燃料电池快速活化”这一制约燃料电池批量生产的共性关键问题，从而扩大清华大学研究成果转化的社会效益，增强科威尔、国鸿氢能企业的产品市场竞争力。\n海关总署：今年前11个月我国进出口总值同比增长22% 超过去年全年水平\n海关总署7日发布数据显示，11月份，我国进出口总值3.72万亿元，同比增长20.5%，环比增长11.4%，比2019年同期增长29.6%。今年前11个月，我国进出口总值35.39万亿元人民币，同比增长22%，超过去年全年的32.16万亿元水平，比2019年同期增长24%。其中，出口19.58万亿元，同比增长21.8%，比2019年同期增长25.8%；进口15.81万亿元，同比增长22.2%，比2019年同期增长21.8%；贸易顺差3.77万亿元，同比增加20.1%。\n中汽协：1-10月前十家客车企业共销售35.12万辆 占客车销售总量的87.62%\n据中国汽车工业协会统计分析，2021年1-10月，客车销量排名前十位的企业依次为：江铃股份、上汽大通、长安汽车、北汽福田、宇通客车、南京依维柯、金龙联合、厦门金旅、东风公司和华晨雷诺。与上年同期相比，金龙联合销量略降，其他企业保持较快增长，东风公司增速更为显著。2021年1-10月，上述十家企业共销售35.12万辆，占客车销售总量的87.62%。\n港股\n恒生科技指数涨近4% 阿里巴巴涨超12%\n港股今日大反弹，此前连续下跌的科技股领衔上涨，致恒生科技指数大幅收涨4.21%，昨日创上市新低，恒指涨2.72%上扬超600点，国指涨3.05%。\n回港中概股、地产股、航空股、SaaS概念股表现强势，融创中国涨超16%，明源云涨超15%，阿里巴巴涨超12%创单日最大涨幅，南航、国航涨超5%。\nA股\n创业板指跌逾1% 北向资金净买入近80亿元\n三大指数涨跌不一，沪指收涨0.16%，深成指跌0.38%，盘中一度跌近2%的创业板收跌1.09%。\n房地产板块走强，新黄浦、中交地产2连板；家装、家电板块联动上涨，索菲亚、老板电器等近10股涨停。ST板块个股再掀涨停潮，板块内超40股涨停。锂电、军工、半导体等高景气赛道板块集体下挫，权重股宁德时代盘中一度跌近7%，全天成交额近140亿元。总体上个股普遍下跌，超2700家飘绿，沪深两市成交额连续第33个交易日突破万亿。盘面上，厨卫电器、房地产、机场航运、食品加工等板块涨幅前列，盐湖提锂、氟化工、国防军工、半导体芯片等板块跌幅居前。截止收盘，沪指涨0.16%，深成指跌0.38%，创业板指跌1.09%。北向资金全天净买入近80亿元，为连续第5日净买入。\n美股\n美国三大股指期货全面反弹，截至发稿，道指期货涨0.67%；标普500指数期货涨0.76%；纳斯达克100指数期货涨0.96%。欧股\n欧洲主要指数全线上涨，欧洲斯托克50指数涨1.50%，英国富时100指数涨0.74%，德国DAX30指数涨1.28%。\n来源：英为财情Investing.com\n原油来源：英为财情Investing.com\n国际油价上涨，美油报71.02美元/桶，日内涨幅2.20%；布油现报74.43美元/桶，日内涨幅1.85%。\n原油延续昨日反弹势头，布油和美油均站上70美元，昨日涨幅接近5%，市场对Omicron的担忧有所缓和，同时伊核协议谈判仍然没有取得实质性进展。\n南非公共卫生专家Ntsakisi Maluleke上周末表示，Omicron新冠肺炎患者只出现了轻微的症状。美国国家过敏和传染病研究所所长Anthony Fuci也表示，到目前为止，“看起来情况并不严重”。澳新银行(ANZ)分析师表示：“这降低了将出现最坏情况的可能性，而市场此前是根据最坏情况定价的。”\n此外，沙特阿拉伯在本周早些时候上调了对亚洲和美国1月份原油售价，显示了沙特对需求前景的信心。\n另一方面，伊朗与美国恢复2015年核协议的间接谈判遇阻，这将阻碍伊朗石油重返市场。澳大利亚联邦银行大宗商品分析师Vivek Dhar在一份报告中表示：“本周晚些时候虽然会再次谈判，也有可能成功，但伊朗石油出口不会那么快恢复，而利多油价，并支持欧佩克+在2022年前继续增产。”\n黄金来源：英为财情Investing.com\n现货黄金日内微涨0.16%，报1782.40美元/盎司。\n消息面上，美联储或于下周的会议上宣布加速Taper，购债计划预计将提前至明年3月结束。美联储官员或在该会议上修改其政策声明，点阵图可能会显示，大多数与会者认为明年将至少加息25个基点。","news_type":1,"symbols_score_info":{"HSTECH":0.9,"HSI":0.9,"HSCCI":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":2491,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872746024,"gmtCreate":1637580691783,"gmtModify":1637580691783,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/872746024","repostId":"1105569838","repostType":4,"isVote":1,"tweetType":1,"viewCount":4798,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872748428,"gmtCreate":1637580676561,"gmtModify":1637580676561,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872748428","repostId":"1153786917","repostType":4,"repost":{"id":"1153786917","kind":"news","pubTimestamp":1637534687,"share":"https://www.laohu8.com/m/news/1153786917?lang=zh_CN&edition=full","pubTime":"2021-11-22 06:44","market":"us","language":"en","title":"Best Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153786917","media":"Barrons","summary":"The tail end of third-quarter earnings season will bring more results from major retailers next week","content":"<p>The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including&nbsp;Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and&nbsp;Gap.</p><p><blockquote>就在购物者为黑色星期五做准备之际，第三季度财报季的尾声将在下周带来更多主要零售商的业绩。周二，投资者将获得一些零售业巨头的季度业绩，包括百思买、伯灵顿商店、迪克体育用品、美元树和Gap。</blockquote></p><p> Friday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.</p><p><blockquote>周五将是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。</blockquote></p><p> Non-retail highlights on the earnings calendar next week include&nbsp;Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and&nbsp;VMware&nbsp;on Tuesday, Deere&nbsp;on Wednesday&nbsp;and&nbsp;Pinduoduo,Meituan and RLX Technology&nbsp;on Friday.</p><p><blockquote>下周财报日历上的非零售亮点包括周一的Zoom Video通信、周二的小鹏汽车、小米公司、欧特克、戴尔科技和VMware、周三的Deere以及周五的拼多多、美团-W和RLX科技。</blockquote></p><p> The National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.</p><p><blockquote>全国房地产经纪人协会周一公布了10月份的现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。</blockquote></p><p> On Tuesday,IHS Markit&nbsp;releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.</p><p><blockquote>周二，IHS Markit发布了11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。</blockquote></p><p> On Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.</p><p><blockquote>周三，联邦公开市场委员会公布了11月初货币政策会议纪要。美国人口普查局还发布10月份耐用品报告，而美国经济分析局则报告10月份个人收入和支出。</blockquote></p><p> U.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.</p><p><blockquote>美国股市和固定收益市场将于周四因感恩节休市。周五，纳斯达克和纽约证券交易所下午1点结束交易，而债券市场下午2点收盘。</blockquote></p><p> Agilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.</p><p><blockquote>安捷伦科技、是德科技、Zoom Video通信发布季度业绩。</blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.</p><p><blockquote><b>全国协会</b>房地产经纪人报告10月份现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。去年10月，成屋销量达到金融危机后的峰值673万套，今年大部分时间都在下降，部分原因是供应限制，尤其是在房地产市场的低端。</blockquote></p><p> Analog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.</p><p><blockquote>ADI公司、欧特克公司、百思买公司、伯灵顿商店公司、戴尔技术公司、迪克体育用品公司、美元树公司、Gap公司、HPInc公司。，J.MSmucker、Jacobs Engineering Group、Medtronic和VMware报告收益。</blockquote></p><p> <b>IHS Markit releases</b> both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.</p><p><blockquote><b>IHS Markit发布</b>11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。这两个数字都略高于10月份的数据。这两个指数都脱离了今年早些时候的峰值，但高于一年前的水平。</blockquote></p><p> <b>The BEA reports</b> its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.</p><p><blockquote><b>东亚银行报告</b>其对第三季度国内生产总值的第二次估计。经济学家预测年化增长率为2.2%，高于东亚银行10月底初步估计的2%。</blockquote></p><p> Deere reports fiscal fourth-quarter 2021 results.</p><p><blockquote>Deere公布2021财年第四季度业绩。</blockquote></p><p> <b>The Federal Open Market</b> Committee releases minutes from its early-November monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布11月初货币政策会议纪要。</blockquote></p><p> <b>The Census Bureau</b> releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.</p><p><blockquote><b>人口普查局</b>发布10月份耐用品报告。经济学家预测耐用品新订单环比增长0.2%，达到2620亿美元。不包括运输，新订单预计将增长0.5%，与9月份的增幅持平。</blockquote></p><p> <b>The BEA reports</b> personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.</p><p><blockquote><b>东亚银行报告</b>10月份个人收入和支出。看涨期权普遍认为，继9月份收入下降1%后，每月收入将增长0.4%。个人支出预计将环比增长1%，快于9月份0.6%的增幅。</blockquote></p><p> <b>U.S. bourses</b> and fixed-income markets are closed in observance of Thanksgiving.</p><p><blockquote><b>美国证券交易所</b>固定收益市场因感恩节休市。</blockquote></p><p> <b>It’s Black Friday</b>, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.</p><p><blockquote><b>今天是黑色星期五</b>这是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。美国交易所在感恩节后的第二天缩短了交易时段。纳斯达克和纽约证券交易所下午1点结束交易，债券市场下午2点收盘。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Best Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBest Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-22 06:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including&nbsp;Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and&nbsp;Gap.</p><p><blockquote>就在购物者为黑色星期五做准备之际，第三季度财报季的尾声将在下周带来更多主要零售商的业绩。周二，投资者将获得一些零售业巨头的季度业绩，包括百思买、伯灵顿商店、迪克体育用品、美元树和Gap。</blockquote></p><p> Friday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.</p><p><blockquote>周五将是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。</blockquote></p><p> Non-retail highlights on the earnings calendar next week include&nbsp;Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and&nbsp;VMware&nbsp;on Tuesday, Deere&nbsp;on Wednesday&nbsp;and&nbsp;Pinduoduo,Meituan and RLX Technology&nbsp;on Friday.</p><p><blockquote>下周财报日历上的非零售亮点包括周一的Zoom Video通信、周二的小鹏汽车、小米公司、欧特克、戴尔科技和VMware、周三的Deere以及周五的拼多多、美团-W和RLX科技。</blockquote></p><p> The National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.</p><p><blockquote>全国房地产经纪人协会周一公布了10月份的现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。</blockquote></p><p> On Tuesday,IHS Markit&nbsp;releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.</p><p><blockquote>周二，IHS Markit发布了11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。</blockquote></p><p> On Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.</p><p><blockquote>周三，联邦公开市场委员会公布了11月初货币政策会议纪要。美国人口普查局还发布10月份耐用品报告，而美国经济分析局则报告10月份个人收入和支出。</blockquote></p><p> U.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.</p><p><blockquote>美国股市和固定收益市场将于周四因感恩节休市。周五，纳斯达克和纽约证券交易所下午1点结束交易，而债券市场下午2点收盘。</blockquote></p><p> Agilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.</p><p><blockquote>安捷伦科技、是德科技、Zoom Video通信发布季度业绩。</blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.</p><p><blockquote><b>全国协会</b>房地产经纪人报告10月份现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。去年10月，成屋销量达到金融危机后的峰值673万套，今年大部分时间都在下降，部分原因是供应限制，尤其是在房地产市场的低端。</blockquote></p><p> Analog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.</p><p><blockquote>ADI公司、欧特克公司、百思买公司、伯灵顿商店公司、戴尔技术公司、迪克体育用品公司、美元树公司、Gap公司、HPInc公司。，J.MSmucker、Jacobs Engineering Group、Medtronic和VMware报告收益。</blockquote></p><p> <b>IHS Markit releases</b> both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.</p><p><blockquote><b>IHS Markit发布</b>11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。这两个数字都略高于10月份的数据。这两个指数都脱离了今年早些时候的峰值，但高于一年前的水平。</blockquote></p><p> <b>The BEA reports</b> its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.</p><p><blockquote><b>东亚银行报告</b>其对第三季度国内生产总值的第二次估计。经济学家预测年化增长率为2.2%，高于东亚银行10月底初步估计的2%。</blockquote></p><p> Deere reports fiscal fourth-quarter 2021 results.</p><p><blockquote>Deere公布2021财年第四季度业绩。</blockquote></p><p> <b>The Federal Open Market</b> Committee releases minutes from its early-November monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布11月初货币政策会议纪要。</blockquote></p><p> <b>The Census Bureau</b> releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.</p><p><blockquote><b>人口普查局</b>发布10月份耐用品报告。经济学家预测耐用品新订单环比增长0.2%，达到2620亿美元。不包括运输，新订单预计将增长0.5%，与9月份的增幅持平。</blockquote></p><p> <b>The BEA reports</b> personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.</p><p><blockquote><b>东亚银行报告</b>10月份个人收入和支出。看涨期权普遍认为，继9月份收入下降1%后，每月收入将增长0.4%。个人支出预计将环比增长1%，快于9月份0.6%的增幅。</blockquote></p><p> <b>U.S. bourses</b> and fixed-income markets are closed in observance of Thanksgiving.</p><p><blockquote><b>美国证券交易所</b>固定收益市场因感恩节休市。</blockquote></p><p> <b>It’s Black Friday</b>, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.</p><p><blockquote><b>今天是黑色星期五</b>这是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。美国交易所在感恩节后的第二天缩短了交易时段。纳斯达克和纽约证券交易所下午1点结束交易，债券市场下午2点收盘。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/best-buy-zoom-dell-deere-and-other-stocks-for-investors-to-watch-this-week-51637524800?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBY":"百思买","DE":"迪尔股份有限公司",".IXIC":"NASDAQ Composite","ZM":"Zoom","DELL":"戴尔",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/best-buy-zoom-dell-deere-and-other-stocks-for-investors-to-watch-this-week-51637524800?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153786917","content_text":"The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and Gap.\nFriday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.\nNon-retail highlights on the earnings calendar next week include Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and VMware on Tuesday, Deere on Wednesday and Pinduoduo,Meituan and RLX Technology on Friday.\nThe National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.\nOn Tuesday,IHS Markit releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.\nOn Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.\nU.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.\nAgilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.\nThe National Association of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.\nAnalog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.\nIHS Markit releases both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.\nThe BEA reports its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.\nDeere reports fiscal fourth-quarter 2021 results.\nThe Federal Open Market Committee releases minutes from its early-November monetary-policy meeting.\nThe Census Bureau releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.\nThe BEA reports personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.\nU.S. bourses and fixed-income markets are closed in observance of Thanksgiving.\nIt’s Black Friday, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.","news_type":1,"symbols_score_info":{"DE":0.9,".DJI":0.9,".SPX":0.9,"BBY":0.9,"DELL":0.9,".IXIC":0.9,"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":2915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":847570478,"gmtCreate":1636539842281,"gmtModify":1636539842407,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/847570478","repostId":"1114810382","repostType":4,"repost":{"id":"1114810382","kind":"news","pubTimestamp":1636539017,"share":"https://www.laohu8.com/m/news/1114810382?lang=zh_CN&edition=full","pubTime":"2021-11-10 18:10","market":"us","language":"en","title":"75 Biggest Movers From Yesterday<blockquote>昨天以来75个涨幅最大的公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114810382","media":"Benzinga","summary":"Gainers\n\nSociety Pass Incorporated surged 436.7% to settle at $48.30 on Tuesday after the company pr","content":"<p><div> Gainers  Society Pass Incorporated surged 436.7% to settle at $48.30 on Tuesday after the company priced its IPO at $9 per share. Dover Motorsports, Inc. shares jumped 60.7% to close at $3.60 on ...</p><p><blockquote><div>周二，Gainers Society Pass Incorporated股价飙升436.7%，收于48.30美元，此前该公司将IPO定价为每股9美元。多佛赛车运动公司股价上涨60.7%，收于3.60美元...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>75 Biggest Movers From Yesterday<blockquote>昨天以来75个涨幅最大的公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n75 Biggest Movers From Yesterday<blockquote>昨天以来75个涨幅最大的公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-11-10 18:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Gainers  Society Pass Incorporated surged 436.7% to settle at $48.30 on Tuesday after the company priced its IPO at $9 per share. Dover Motorsports, Inc. shares jumped 60.7% to close at $3.60 on ...</p><p><blockquote><div>周二，Gainers Society Pass Incorporated股价飙升436.7%，收于48.30美元，此前该公司将IPO定价为每股9美元。多佛赛车运动公司股价上涨60.7%，收于3.60美元...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","RBLX":"Roblox Corporation"},"source_url":"https://www.benzinga.com/news/21/11/24006123/75-biggest-movers-from-yesterday","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114810382","content_text":"Gainers\n\nSociety Pass Incorporated surged 436.7% to settle at $48.30 on Tuesday after the company priced its IPO at $9 per share.\nDover Motorsports, Inc. shares jumped 60.7% to close at $3.60 on Tuesday after Speedway Motorsports announced it will acquire the company for $3.61 per share in cash.\nRoblox Corporation shares jumped 42.2% to close at $109.52 after the company reported better-than-expected Q3 EPS results. The company also reported Q3 DAUs were up 31% year over year.\nNew Relic, Inc. climbed 38.5% to settle at $125.97 after the company reported better-than-expected Q2 results and issued sales guidance above estimates. JP Morgan upgraded New Relic from Underweight to Overweight and raised the price target from $70 to $150.\nKatapult Holdings, Inc. jumped 38.6% to close at $5.75 following upbeat Q3 results.\nGuaranty Federal Bancshares, Inc. gained 33.4% to close at $32.03. QCR Holdings, Inc. reported acquisition of Guaranty Federal Bancshares, Inc.\nAltimeter Growth Corp. jumped 27.2% to settle at $15.60.\nQuantum Computing, Inc. gained 22.1% to settle at $7.52. The company said that its Qatalyst ready-to-run quantum software was selected By BMW Group and Amazon Web Services as finalist in Quantum Computing Challenge.\nPretium Resources Inc. climbed 18.9% to close at $14.45. Newcrest Mining Ltd announced plans to buy the rest of Pretium Resources Inc in a deal valued at $2.8 billion.\nThe RealReal, Inc. shares gained 18.7% to close at $16.28 after reporting Q3 results.\nSAB Biotherapeutics, Inc. surged 16.4% to settle at $9.79.\nmonday.com Ltd. rose 16% to close at $444.70.\nYalla Group Limited gained 15.8% to close at $8.52 following Q3 results.\nLegacy Housing Corporation rose 15.6% to settle at $24.05. The company reported quarterly results.\nLuminar Technologies, Inc. gained 15% to close at $20.12 after the company said that its lidar solution has been selected to be part of the sensor suite in the NVIDIA DRIVE Hyperion autonomous vehicle reference platform.\nFranklin Street Properties Corp. surged 14.9% to settle at $5.57 after the company reported Q3 earnings results.\nTrex Company, Inc. gained 14.7% to close at $132.80 after the company reported better-than-expected Q3 results. The company also issued Q4 sales guidance above analyst estimates.\nPetVivo Holdings, Inc. rose 14.7% to close at $5.01.\nFive9, Inc. climbed 14.5% to settle at $166.27 after reporting upbeat Q3 results.\nTDH Holdings, Inc. gained 14.1% to settle at $6.95 after gaining 57% on Monday.\nSensus Healthcare, Inc. rose 13.9% to close at $4.67. Sensus Healthcare, last week, posted Q3 earnings of $0.01 per share.\nInnoviz Technologies Ltd. gained 13.1% to settle at $5.36 after the company said its advanced perception solution is now supported on the NVIDIA DRIVE platform.\nRover Group, Inc. rose 12.7% to close at $13.85 after the company posted upbeat quarterly sales and raised FY21 sales guidance.\nAterian, Inc. shares gained 12.5% to close at $7.01 following Q3 results.\nADT Inc. rose 12.1% to close at $10.09. ADT reported third-quarter sales of $1.32 billion, increasing 1% year-over-year, beating the consensus of $1.29 billion. Additionally, the company agreed to acquire Sunpro Solar, a provider of residential solar installation, for a total enterprise value of $825 million, comprised of $160 million cash and 77.8 million shares of ADT common stock.\nSurgePays, Inc. gained 11.6% to close at $3.46. SurgePays said it expects to eclipse 15,000 customer mark in November.\nVector Group Ltd. rose 10.8% to close at $15.75 following Q3 results.\nEVgo, Inc. rose 10.2% to settle at $14.80. EVgo reported an expansion to its EV charging program for rideshare drivers on Uber’s platform.\nSynchronoss Technologies, Inc. jumped 6.3% to close at $2.69 following strong quarterly results.\nNaked Brand Group Limited gained 6% to close at $0.7509 after the company announced it entered into a definitive agreement under which Naked will acquire the outstanding stock in three entities comprising Cenntro Automotive Group.\n\nLosers\n\nAmyris, Inc. dipped 38.7% to close at $7.96 on Tuesday after the company reported Q3 2021 EPS results were down year over year.\nPioneer Power Solutions, Inc. dipped 29.9% to close at $7.29. Pioneer Power Solutions shares jumped 219% on Monday after the company announced the launch of its E-Boost portfolio of mobile Electric Vehicle charging solutions for a full range of applications.\nShattuck Labs, Inc. fell 28.6% to close at $13.59. Shutterstock reported a partnership with Staples US Retail.\nArrival shares fell 27.6% to close at $12.88 following Q3 results.\nLifeStance Health Group, Inc. shares fell 24.2% to close at $9.73 after the company posted a wider-than-expected Q3 loss. JP Morgan downgraded LifeStance Health Group from Overweight to Neutral and lowered the price target from $24 to $12.\nTactile Systems Technology, Inc. fell 23% to close at $29.25 after the company reported swung to a loss in the third quarter and reported worse-than-expected Q3 sales results. The company also issued FY21 sales guidance below estimates.\nCBAK Energy Technology, Inc. fell 22.5% to settle at $2.48.\nGaucho Group Holdings, Inc. dipped 22.4% to settle at $3.51 after climbing 43% on Monday.\nMainz Biomed B.V. dropped 22.1% to close at $9.11.\nInvitae Corporation fell 21.9% to close at $20.53 after reporting Q3 results.\nImmutep Limited declined 21.7% to close at $3.72. Immutep announced final overall survival data (OS) from its Phase 2b AIPAC trial.\nALX Oncology Holdings Inc. dipped 21.5% to close at $40.93 after the company announced updated results from ASPEN-01, an ongoing evorpacept phase 1b study, evaluating patients with solid tumor malignancies.\nAbsci Corporation dropped 21.1% to close at $14.23 following Q3 results.\nOak Street Health, Inc. fell 20.8% to close at $37.14 after the company reported worse-than-expected Q3 EPS results. The company also issued FY21 sales guidance below analyst estimates.\nSmileDirectClub, Inc. fell 20.6% to close at $4.17 after reporting Q3 results.\nWestport Fuel Systems Inc. fell 20.3% to close at $3.14 following Q3 results.\nParty City Holdco Inc. fell 20.2% to close at $6.64 after the company reported a decline in quarterly earnings.\nNextCure, Inc. fell 18.3% to close at $6.68.\nAllot Ltd. fell 17.5% to close at $13.02. Allot LtdALLT+0%reported third-quarter FY21 revenue growth of 10% year-on-year to $38.2 million. Allot sees FY21 revenue of $145 million - $146 million (prior view $145 million - $150 million).\nTPI Composites, Inc. dropped 16.5% to settle at $25.97 after the company reported worse-than-expected Q3 EPS and sales results and issued FY21 sales guidance below estimates.\nCN Energy Group. Inc. fell 16.5% to close at $4.26.\nLoyalty Ventures, Inc. dipped 16.5% to close at $41.00.\nCOMPASS Pathways plc declined 16.4% to settle at $36.00 after the company reported Q3 earnings results and topline results from its Phase IIb clinical trial of COMP360.\nFreshpet, Inc. fell 16.3% to settle at $125.95 after the company reported worse-than-expected Q3 results.\nSiTime Corporation declined 16.3% to close at $243.94 after the company announced a 2 million share follow-on public offering.\nCardiovascular Systems, Inc. fell 16% to settle at $28.56 following Q1 results.\nHaemonetics Corporation dropped 15.4% to close at $60.20 following weak Q2 results.\nHallador Energy Company fell 15.4% to close at $2.74 after the company reported Q3 earnings results.\nStudio City International Holdings Limited fell 15.4% to settle at $7.00 following Q3 results.\nAlkermes plc fell 15.3% to close at $24.83 after the company received a partial termination notice from Janssen in respect of two license agreements.\nCronos Group Inc. fell 15.1% to settle at $5.70 after the company delayed Q3 earnings due to a pending impairment charge for its U.S. CBD activities.\nAvis Budget Group, Inc. fell 14.8% to settle at $249.68.\n3D Systems Corporation shares dipped 14.4% to close at $29.01 after reporting Q3 results.\nDiversey Holdings, Ltd. fell 13.5% to settle at $14.71 after the company announced a 15 million share offering.\nBiohaven Pharmaceutical Holding Company Ltd. fell 12.9% to close at $121.72 after the company announced a collaboration with Pfizer for the commercialization of Rimegepant outside the US, which quelled investor hopes for a potential buyout.\nNewegg Commerce, Inc. dropped 12.9% to settle at $16.39 after surging 59% on Monday.\n908 Devices Inc. fell 12.4% to close at $33.98. The company, last week, posted a wider-than-expected quarterly loss.\nKyndryl Holdings, Inc. dipped 12.3% to close at $20.83.\nTesla, Inc. dipped 12% to close at $1,023.50 as the stock continued to pull back from its recent surge. China-made vehicle sales reportedly fell 3% month over month in October.\nHCI Group, Inc. dropped 11.4% to close at $119.73 following Q3 loss.\nEZFill Holdings Inc. fell 11.3% to close at $2.82 after reporting Q3 results.\nPayPal Holdings, Inc. dropped 10.5% to close at $205.42 after the company reported worse-than-expected Q3 net sales results and issued Q4 and FY21 adjusted EPS and net sales guidance below estimates.\nTripAdvisor, Inc. shares fell 10.2% to settle at $31.33 after the company reported Q3 results. The company also said its co-founder and long-time CEO, Stephen Kaufer, will step down from his position at Tripadvisor in 2022.\nPolar Power, Inc. shares fell 9.9% to settle at $6.27 after surging over 30% on Monday.\nDocGo Inc. fell 8.1% to settle at $9.28.","news_type":1,"symbols_score_info":{"TSLA":0.9,"RBLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824946835,"gmtCreate":1634273538463,"gmtModify":1634274404829,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/824946835","repostId":"1177947399","repostType":4,"repost":{"id":"1177947399","kind":"news","pubTimestamp":1634269155,"share":"https://www.laohu8.com/m/news/1177947399?lang=zh_CN&edition=full","pubTime":"2021-10-15 11:39","market":"us","language":"en","title":"Nintendo Dips After New Switch Disappoints in Japan Debut<blockquote>新Switch在日本首次亮相令人失望后，任天堂股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177947399","media":"Bloomberg","summary":"(Bloomberg) -- Nintendo Co.’s pricier new Switch console sold less than half its predecessor managed","content":"<p>(Bloomberg) -- Nintendo Co.’s pricier new Switch console sold less than half its predecessor managed during its opening weekend in Japan, suggesting supply constraints were hampering the company’s biggest product launch in years.</p><p><blockquote>（彭博社）——任天堂公司（Nintendo Co.）价格较高的新款Switch游戏机在日本首映周末的销量不到其前身的一半，这表明供应限制正在阻碍该公司多年来最大的产品发布。</blockquote></p><p> The hybrid handheld’s OLED edition, released globally on Friday for $350, sold 138,409 units in the domestic market over its launch weekend, sales tracker Famitsu said Thursday. That compares with the original Switch’s inaugural weekend sales of 330,637 in 2017 and the Switch Lite’s 177,936 units in 2019. It was a surprising result after a fast uptake of pre-orders ahead of the launch.</p><p><blockquote>销售跟踪机构Famitsu周四表示，这款混合动力手持设备的有机发光二极管版于周五在全球发布，售价为350美元，在发布周末在国内市场售出了138,409台。相比之下，原版Switch在2017年的首个周末销量为330,637辆，Switch Lite在2019年的销量为177,936辆。在发布前预订量迅速增加后，这是一个令人惊讶的结果。</blockquote></p><p> Nintendo shares fell as much as 1.5% in Tokyo on Friday, extending a decline of more than 20% this year while rival console makers such as Sony Group Corp. have gained.</p><p><blockquote>任天堂股价周五在东京下跌1.5%，延续了今年超过20%的跌幅，而索尼集团公司等竞争对手游戏机制造商则上涨。</blockquote></p><p> The new model sports a more vibrant 7-inch OLED display along with a new flexible stand, more storage space and better speakers as well as an internet cable port. Even without a widely expected graphics chip upgrade on the inside, the Switch OLED was a trending topic on social media in major markets like Japan and the U.S., where early impressions have been overwhelmingly positive.</p><p><blockquote>新型号配备了更有活力的7英寸有机发光二极管显示屏，以及新的灵活支架、更多的存储空间和更好的扬声器以及互联网电缆端口。即使内部没有广泛预期的图形芯片升级，Switch有机发光二极管也是日本和美国等主要市场社交媒体上的热门话题，这些市场的早期印象非常积极。</blockquote></p><p> Nintendo’s own flagship store in the trendy Shibuya district of Tokyo has been among the major retailers implementing lottery draws to determine who gets to buy a Switch OLED device. That would typically suggest rabid demand for the new gadget, however the weak initial sales indicate there was inadequate supply.</p><p><blockquote>任天堂自己位于东京时尚的涩谷区的旗舰店是实施抽奖以决定谁能购买Switch OLED设备的主要零售商之一。这通常表明对新产品的需求旺盛，然而疲软的初始销售表明供应不足。</blockquote></p><p> The thin availability of the new handheld is set to extend at least until early next year, according to an official at a major Japanese retailer, who asked not to be named because they’re not authorized to speak publicly.</p><p><blockquote>日本一家大型零售商的一位官员表示，这款新掌上电脑的供应将至少持续到明年初。这位官员要求不透露姓名，因为他们无权公开发言。</blockquote></p><p> While Nintendo grapples with supply challenges, there’s also concern about the strength of long-term demand for the OLED model.</p><p><blockquote>虽然任天堂正在努力应对供应挑战，但人们也担心有机发光二极管型号的长期需求强度。</blockquote></p><p> “Switch hardware sales may have peaked in fiscal 2021 ended March, absent a reported but as yet unconfirmed Pro version, putting a greater onus on software to drive profit,” said Bloomberg Intelligence analyst Matthew Kanterman. “Some of the demand, especially that which was pulled forward during the height of the pandemic, is now starting to wane.”</p><p><blockquote>彭博资讯分析师马修·坎特曼(Matthew Kanterman)表示：“在没有报道但尚未证实的Pro版本的情况下，交换机硬件销售可能在截至3月的2021财年达到顶峰，这给软件带来了更大的推动利润的责任。”“一些需求，尤其是在疫情最严重期间被推迟的需求，现在开始减弱。”</blockquote></p><p> Nintendo had split production capacity between the upgraded new Switch, the $300 original console and the $200 Lite in a way that indicated the company’s expectation that the OLED edition wouldn’t outsell the others by a large margin, according to an executive at an assembly partner. This conservative approach echoes investor concern at the time of the Switch OLED’s announcement that it didn’t represent a sufficiently impressive upgrade.</p><p><blockquote>一家组装公司的一位高管表示，任天堂将产能分配给了升级后的新Switch、300美元的原装游戏机和200美元的Lite，这表明该公司预计OLED版的销量不会大幅超过其他版本。合作伙伴。这种保守的做法呼应了OLED宣布Switch时投资者的担忧，即它并不代表足够令人印象深刻的升级。</blockquote></p><p> Famitsu’s figures show Switch and Switch Lite sales on a consistent downward trajectory this year. Unlike during the pandemic-afflicted 2020, the two consoles are available in ample supply almost everywhere today. Launched more than four years ago and having sold more than 89 million units to date, the Switch product family looks set to rely on its newest model to sustain momentum while the original version may require a price cut in order to clear unsold inventory, according to Ace Research Institute analyst Hideki Yasuda.</p><p><blockquote>Famitsu的数据显示，今年Switch和Switch Lite的销量持续下降。与受疫情影响的2020年不同，这两款游戏机如今几乎在任何地方都有充足的供应。Switch产品系列于四年多前推出，迄今为止已售出超过8900万台，看起来将依靠其最新型号来维持势头，而原始版本可能需要降价以清理未售出的库存。Ace研究所分析师Hideki Yasuda。</blockquote></p><p> A Nintendo spokesman said the company has no plans to reduce Switch prices. It cut the standard model’s price in Europe last month largely in response to a change in currency exchange rates.</p><p><blockquote>任天堂发言人表示，该公司没有降低Switch价格的计划。上个月，该公司下调了标准型号在欧洲的价格，主要是为了应对货币汇率的变化。</blockquote></p><p></p>","source":"lsy1612507957220","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>Nintendo Dips After New Switch Disappoints in Japan Debut<blockquote>新Switch在日本首次亮相令人失望后，任天堂股价下跌</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\">\nNintendo Dips After New Switch Disappoints in Japan Debut<blockquote>新Switch在日本首次亮相令人失望后，任天堂股价下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-10-15 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Nintendo Co.’s pricier new Switch console sold less than half its predecessor managed during its opening weekend in Japan, suggesting supply constraints were hampering the company’s biggest product launch in years.</p><p><blockquote>（彭博社）——任天堂公司（Nintendo Co.）价格较高的新款Switch游戏机在日本首映周末的销量不到其前身的一半，这表明供应限制正在阻碍该公司多年来最大的产品发布。</blockquote></p><p> The hybrid handheld’s OLED edition, released globally on Friday for $350, sold 138,409 units in the domestic market over its launch weekend, sales tracker Famitsu said Thursday. That compares with the original Switch’s inaugural weekend sales of 330,637 in 2017 and the Switch Lite’s 177,936 units in 2019. It was a surprising result after a fast uptake of pre-orders ahead of the launch.</p><p><blockquote>销售跟踪机构Famitsu周四表示，这款混合动力手持设备的有机发光二极管版于周五在全球发布，售价为350美元，在发布周末在国内市场售出了138,409台。相比之下，原版Switch在2017年的首个周末销量为330,637辆，Switch Lite在2019年的销量为177,936辆。在发布前预订量迅速增加后，这是一个令人惊讶的结果。</blockquote></p><p> Nintendo shares fell as much as 1.5% in Tokyo on Friday, extending a decline of more than 20% this year while rival console makers such as Sony Group Corp. have gained.</p><p><blockquote>任天堂股价周五在东京下跌1.5%，延续了今年超过20%的跌幅，而索尼集团公司等竞争对手游戏机制造商则上涨。</blockquote></p><p> The new model sports a more vibrant 7-inch OLED display along with a new flexible stand, more storage space and better speakers as well as an internet cable port. Even without a widely expected graphics chip upgrade on the inside, the Switch OLED was a trending topic on social media in major markets like Japan and the U.S., where early impressions have been overwhelmingly positive.</p><p><blockquote>新型号配备了更有活力的7英寸有机发光二极管显示屏，以及新的灵活支架、更多的存储空间和更好的扬声器以及互联网电缆端口。即使内部没有广泛预期的图形芯片升级，Switch有机发光二极管也是日本和美国等主要市场社交媒体上的热门话题，这些市场的早期印象非常积极。</blockquote></p><p> Nintendo’s own flagship store in the trendy Shibuya district of Tokyo has been among the major retailers implementing lottery draws to determine who gets to buy a Switch OLED device. That would typically suggest rabid demand for the new gadget, however the weak initial sales indicate there was inadequate supply.</p><p><blockquote>任天堂自己位于东京时尚的涩谷区的旗舰店是实施抽奖以决定谁能购买Switch OLED设备的主要零售商之一。这通常表明对新产品的需求旺盛，然而疲软的初始销售表明供应不足。</blockquote></p><p> The thin availability of the new handheld is set to extend at least until early next year, according to an official at a major Japanese retailer, who asked not to be named because they’re not authorized to speak publicly.</p><p><blockquote>日本一家大型零售商的一位官员表示，这款新掌上电脑的供应将至少持续到明年初。这位官员要求不透露姓名，因为他们无权公开发言。</blockquote></p><p> While Nintendo grapples with supply challenges, there’s also concern about the strength of long-term demand for the OLED model.</p><p><blockquote>虽然任天堂正在努力应对供应挑战，但人们也担心有机发光二极管型号的长期需求强度。</blockquote></p><p> “Switch hardware sales may have peaked in fiscal 2021 ended March, absent a reported but as yet unconfirmed Pro version, putting a greater onus on software to drive profit,” said Bloomberg Intelligence analyst Matthew Kanterman. “Some of the demand, especially that which was pulled forward during the height of the pandemic, is now starting to wane.”</p><p><blockquote>彭博资讯分析师马修·坎特曼(Matthew Kanterman)表示：“在没有报道但尚未证实的Pro版本的情况下，交换机硬件销售可能在截至3月的2021财年达到顶峰，这给软件带来了更大的推动利润的责任。”“一些需求，尤其是在疫情最严重期间被推迟的需求，现在开始减弱。”</blockquote></p><p> Nintendo had split production capacity between the upgraded new Switch, the $300 original console and the $200 Lite in a way that indicated the company’s expectation that the OLED edition wouldn’t outsell the others by a large margin, according to an executive at an assembly partner. This conservative approach echoes investor concern at the time of the Switch OLED’s announcement that it didn’t represent a sufficiently impressive upgrade.</p><p><blockquote>一家组装公司的一位高管表示，任天堂将产能分配给了升级后的新Switch、300美元的原装游戏机和200美元的Lite，这表明该公司预计OLED版的销量不会大幅超过其他版本。合作伙伴。这种保守的做法呼应了OLED宣布Switch时投资者的担忧，即它并不代表足够令人印象深刻的升级。</blockquote></p><p> Famitsu’s figures show Switch and Switch Lite sales on a consistent downward trajectory this year. Unlike during the pandemic-afflicted 2020, the two consoles are available in ample supply almost everywhere today. Launched more than four years ago and having sold more than 89 million units to date, the Switch product family looks set to rely on its newest model to sustain momentum while the original version may require a price cut in order to clear unsold inventory, according to Ace Research Institute analyst Hideki Yasuda.</p><p><blockquote>Famitsu的数据显示，今年Switch和Switch Lite的销量持续下降。与受疫情影响的2020年不同，这两款游戏机如今几乎在任何地方都有充足的供应。Switch产品系列于四年多前推出，迄今为止已售出超过8900万台，看起来将依靠其最新型号来维持势头，而原始版本可能需要降价以清理未售出的库存。Ace研究所分析师Hideki Yasuda。</blockquote></p><p> A Nintendo spokesman said the company has no plans to reduce Switch prices. It cut the standard model’s price in Europe last month largely in response to a change in currency exchange rates.</p><p><blockquote>任天堂发言人表示，该公司没有降低Switch价格的计划。上个月，该公司下调了标准型号在欧洲的价格，主要是为了应对货币汇率的变化。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/nintendo-switch-japan-debut-bodes-110637461.html\">Bloomberg</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":{"NTDOY":"任天堂"},"source_url":"https://finance.yahoo.com/news/nintendo-switch-japan-debut-bodes-110637461.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177947399","content_text":"(Bloomberg) -- Nintendo Co.’s pricier new Switch console sold less than half its predecessor managed during its opening weekend in Japan, suggesting supply constraints were hampering the company’s biggest product launch in years.\nThe hybrid handheld’s OLED edition, released globally on Friday for $350, sold 138,409 units in the domestic market over its launch weekend, sales tracker Famitsu said Thursday. That compares with the original Switch’s inaugural weekend sales of 330,637 in 2017 and the Switch Lite’s 177,936 units in 2019. It was a surprising result after a fast uptake of pre-orders ahead of the launch.\nNintendo shares fell as much as 1.5% in Tokyo on Friday, extending a decline of more than 20% this year while rival console makers such as Sony Group Corp. have gained.\nThe new model sports a more vibrant 7-inch OLED display along with a new flexible stand, more storage space and better speakers as well as an internet cable port. Even without a widely expected graphics chip upgrade on the inside, the Switch OLED was a trending topic on social media in major markets like Japan and the U.S., where early impressions have been overwhelmingly positive.\nNintendo’s own flagship store in the trendy Shibuya district of Tokyo has been among the major retailers implementing lottery draws to determine who gets to buy a Switch OLED device. That would typically suggest rabid demand for the new gadget, however the weak initial sales indicate there was inadequate supply.\nThe thin availability of the new handheld is set to extend at least until early next year, according to an official at a major Japanese retailer, who asked not to be named because they’re not authorized to speak publicly.\nWhile Nintendo grapples with supply challenges, there’s also concern about the strength of long-term demand for the OLED model.\n“Switch hardware sales may have peaked in fiscal 2021 ended March, absent a reported but as yet unconfirmed Pro version, putting a greater onus on software to drive profit,” said Bloomberg Intelligence analyst Matthew Kanterman. “Some of the demand, especially that which was pulled forward during the height of the pandemic, is now starting to wane.”\nNintendo had split production capacity between the upgraded new Switch, the $300 original console and the $200 Lite in a way that indicated the company’s expectation that the OLED edition wouldn’t outsell the others by a large margin, according to an executive at an assembly partner. This conservative approach echoes investor concern at the time of the Switch OLED’s announcement that it didn’t represent a sufficiently impressive upgrade.\nFamitsu’s figures show Switch and Switch Lite sales on a consistent downward trajectory this year. Unlike during the pandemic-afflicted 2020, the two consoles are available in ample supply almost everywhere today. Launched more than four years ago and having sold more than 89 million units to date, the Switch product family looks set to rely on its newest model to sustain momentum while the original version may require a price cut in order to clear unsold inventory, according to Ace Research Institute analyst Hideki Yasuda.\nA Nintendo spokesman said the company has no plans to reduce Switch prices. It cut the standard model’s price in Europe last month largely in response to a change in currency exchange rates.","news_type":1,"symbols_score_info":{"NTDOY":0.9}},"isVote":1,"tweetType":1,"viewCount":3373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824946017,"gmtCreate":1634273520805,"gmtModify":1634274407605,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/824946017","repostId":"2175197255","repostType":4,"isVote":1,"tweetType":1,"viewCount":3206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824948560,"gmtCreate":1634273508450,"gmtModify":1634274407609,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/824948560","repostId":"2175192961","repostType":4,"isVote":1,"tweetType":1,"viewCount":1135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824948612,"gmtCreate":1634273495738,"gmtModify":1634274404872,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/824948612","repostId":"1129314610","repostType":4,"repost":{"id":"1129314610","kind":"news","pubTimestamp":1634253682,"share":"https://www.laohu8.com/m/news/1129314610?lang=zh_CN&edition=full","pubTime":"2021-10-15 07:21","market":"us","language":"en","title":"S&P 500 surges, biggest daily percentage rise since March on earnings, data<blockquote>标普500股价飙升，盈利和数据创3月份以来最大单日百分比涨幅</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129314610","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 jumped on Thursday, its biggest daily percentage advance since earl","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 jumped on Thursday, its biggest daily percentage advance since early March, as companies including <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> and <a href=\"https://laohu8.com/S/UNH\">UnitedHealth</a> climbed following strong results, while data on the labor market and inflation soothed fears over the outlook for higher rates.</p><p><blockquote>纽约（路透社）-标普500周四跳涨，创3月初以来最大单日百分比涨幅，包括<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>和<a href=\"https://laohu8.com/S/UNH\">联合健康</a>在强劲的业绩后攀升，而劳动力市场和通胀数据缓解了对加息前景的担忧。</blockquote></p><p> The technology sector jumped 2.3%, giving the S&amp;P 500 its biggest boost, with shares of <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp and <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc rising.</p><p><blockquote>科技板块上涨2.3%，给标普500带来最大提振，股价为<a href=\"https://laohu8.com/S/MSFT\">微软</a>公司和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司崛起。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/C\">Citigroup</a>, $Bank of America Corp(BAC-N)$ and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> also gained after they topped quarterly earnings estimates. The rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading added to profits. The S&amp;P bank index jumped 1.5%.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/C\">花旗集团</a>,$美国银行(BAC-N)$和<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>在超出季度盈利预期后也有所上涨。经济的反弹使他们能够释放更多为疫情损失预留的现金，而火热的交易、股权融资和交易增加了利润。标准普尔银行指数上涨1.5%。</blockquote></p><p> Also, UnitedHealth Group Inc climbed 4.2% after the health insurer reported results and raised its full-year adjusted profit forecast on strength from its Optum unit that manages drug benefits.</p><p><blockquote>此外，联合健康集团(UnitedHealth Group Inc)股价上涨4.2%，此前该健康保险公司公布了业绩，并因其管理药品福利的Optum部门的实力而上调了全年调整后利润预测。</blockquote></p><p> Adding to optimism, data showed the number of Americans filing new claims for unemployment benefits last week fell close to a 19-month low, and a separate report showed producer prices eased in September.</p><p><blockquote>数据显示，上周美国新申请失业救济人数降至接近19个月低点，另一份报告显示，9月份生产者价格有所放缓，这增加了乐观情绪。</blockquote></p><p> Data from recent inflation reports suggested COVID-driven price increases may have peaked. Still, Federal Reserve policymakers remain divided over inflation and what to do about it.</p><p><blockquote>最近通胀报告的数据表明，新冠疫情推动的价格上涨可能已经见顶。尽管如此，美联储政策制定者在通胀以及如何应对通胀问题上仍存在分歧。</blockquote></p><p> “Some of the things that worried the market in September, and even last week, as far as the inflation aspect and higher interest rates and the Delta variant, maybe have lessened,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc., an investment advisory firm, based in Toledo, Ohio.</p><p><blockquote>Alan B.Lancz&amp;Associates Inc.总裁Alan Lancz表示：“9月份甚至上周令市场担忧的一些事情，就通胀、利率上升和德尔塔变异毒株而言，可能已经有所缓解。”</blockquote></p><p> “Not that it’s all over, but on a temporary scale at least, you can make a case for it trending in the right direction.”</p><p><blockquote>“并不是说一切都结束了，但至少在暂时的范围内，你可以证明它正朝着正确的方向发展。”</blockquote></p><p> The Dow Jones Industrial Average rose 534.75 points, or 1.56%, to 34,912.56, the S&amp;P 500 gained 74.46 points, or 1.71%, to 4,438.26 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite added 251.8 points, or 1.73%, to 14,823.43.</p><p><blockquote>道琼斯工业平均指数上涨534.75点，涨幅1.56%，至34,912.56点；标普500上涨74.46点，涨幅1.71%，至4,438.26点；<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>综合指数上涨251.8点，或1.73%，至14,823.43点。</blockquote></p><p> While the S&amp;P 500 registered its biggest daily percentage gain since March 5, the Nasdaq notched its biggest since May 20 and the Dow its biggest since July 20.</p><p><blockquote>虽然标普500创下3月5日以来最大单日百分比涨幅，但纳斯达克创下5月20日以来最大涨幅，道琼斯指数创下7月20日以来最大涨幅。</blockquote></p><p> Gains were broad-based, with all but <a href=\"https://laohu8.com/S/AONE.U\">one</a> S&amp;P 500 sector rising more than 1%.</p><p><blockquote>收益基础广泛，除了<a href=\"https://laohu8.com/S/AONE.U\">一</a>标普500板块涨超1%。</blockquote></p><p> Shares of Moderna Inc ended up 3.2% after a panel of expert advisers to the U.S. Food and Drug Administration voted to recommend booster shots of its COVID-19 vaccine for Americans aged 65 and older and those at high risk of severe illness.</p><p><blockquote>美国专家顾问小组表示，Moderna Inc.的股价最终上涨3.2%。美国食品药品监督管理局投票建议为65岁及以上的美国人和患有严重疾病的高风险人群注射新冠肺炎疫苗。</blockquote></p><p> <a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> Inc jumped 7.4% after the drugstore chain reported fourth-quarter revenue and adjusted profit above estimates and forecast growth of 11% to 13% in the long term.</p><p><blockquote><a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>Inc股价上涨7.4%，此前这家连锁药店公布第四季度营收和调整后利润高于预期，并预测长期增长率为11%至13%。</blockquote></p><p> U.S. companies are expected to report strong profit growth for the third quarter, but investors have been keen to hear what they say about rising costs, labor shortages and supply problems.</p><p><blockquote>预计美国企业将公布第三季度强劲的利润增长，但投资者一直渴望听到他们对成本上升、劳动力短缺和供应问题的看法。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 3.58-to-1 ratio; on Nasdaq, a 1.97-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为3.58比1；在纳斯达克，1.97比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 32 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 46 new lows.</p><p><blockquote>标普500创下32个52周新高，无新低；纳斯达克综合指数录得82个新高和46个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.26 billion shares, compared with the 10.8 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为92.6亿股，而过去20个交易日的平均成交量为108亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 surges, biggest daily percentage rise since March on earnings, data<blockquote>标普500股价飙升，盈利和数据创3月份以来最大单日百分比涨幅</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 surges, biggest daily percentage rise since March on earnings, data<blockquote>标普500股价飙升，盈利和数据创3月份以来最大单日百分比涨幅</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-10-15 07:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 jumped on Thursday, its biggest daily percentage advance since early March, as companies including <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> and <a href=\"https://laohu8.com/S/UNH\">UnitedHealth</a> climbed following strong results, while data on the labor market and inflation soothed fears over the outlook for higher rates.</p><p><blockquote>纽约（路透社）-标普500周四跳涨，创3月初以来最大单日百分比涨幅，包括<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>和<a href=\"https://laohu8.com/S/UNH\">联合健康</a>在强劲的业绩后攀升，而劳动力市场和通胀数据缓解了对加息前景的担忧。</blockquote></p><p> The technology sector jumped 2.3%, giving the S&amp;P 500 its biggest boost, with shares of <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp and <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc rising.</p><p><blockquote>科技板块上涨2.3%，给标普500带来最大提振，股价为<a href=\"https://laohu8.com/S/MSFT\">微软</a>公司和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司崛起。</blockquote></p><p> Shares of <a href=\"https://laohu8.com/S/C\">Citigroup</a>, $Bank of America Corp(BAC-N)$ and <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> also gained after they topped quarterly earnings estimates. The rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading added to profits. The S&amp;P bank index jumped 1.5%.</p><p><blockquote>本公司之股份<a href=\"https://laohu8.com/S/C\">花旗集团</a>,$美国银行(BAC-N)$和<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>在超出季度盈利预期后也有所上涨。经济的反弹使他们能够释放更多为疫情损失预留的现金，而火热的交易、股权融资和交易增加了利润。标准普尔银行指数上涨1.5%。</blockquote></p><p> Also, UnitedHealth Group Inc climbed 4.2% after the health insurer reported results and raised its full-year adjusted profit forecast on strength from its Optum unit that manages drug benefits.</p><p><blockquote>此外，联合健康集团(UnitedHealth Group Inc)股价上涨4.2%，此前该健康保险公司公布了业绩，并因其管理药品福利的Optum部门的实力而上调了全年调整后利润预测。</blockquote></p><p> Adding to optimism, data showed the number of Americans filing new claims for unemployment benefits last week fell close to a 19-month low, and a separate report showed producer prices eased in September.</p><p><blockquote>数据显示，上周美国新申请失业救济人数降至接近19个月低点，另一份报告显示，9月份生产者价格有所放缓，这增加了乐观情绪。</blockquote></p><p> Data from recent inflation reports suggested COVID-driven price increases may have peaked. Still, Federal Reserve policymakers remain divided over inflation and what to do about it.</p><p><blockquote>最近通胀报告的数据表明，新冠疫情推动的价格上涨可能已经见顶。尽管如此，美联储政策制定者在通胀以及如何应对通胀问题上仍存在分歧。</blockquote></p><p> “Some of the things that worried the market in September, and even last week, as far as the inflation aspect and higher interest rates and the Delta variant, maybe have lessened,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc., an investment advisory firm, based in Toledo, Ohio.</p><p><blockquote>Alan B.Lancz&amp;Associates Inc.总裁Alan Lancz表示：“9月份甚至上周令市场担忧的一些事情，就通胀、利率上升和德尔塔变异毒株而言，可能已经有所缓解。”</blockquote></p><p> “Not that it’s all over, but on a temporary scale at least, you can make a case for it trending in the right direction.”</p><p><blockquote>“并不是说一切都结束了，但至少在暂时的范围内，你可以证明它正朝着正确的方向发展。”</blockquote></p><p> The Dow Jones Industrial Average rose 534.75 points, or 1.56%, to 34,912.56, the S&amp;P 500 gained 74.46 points, or 1.71%, to 4,438.26 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite added 251.8 points, or 1.73%, to 14,823.43.</p><p><blockquote>道琼斯工业平均指数上涨534.75点，涨幅1.56%，至34,912.56点；标普500上涨74.46点，涨幅1.71%，至4,438.26点；<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>综合指数上涨251.8点，或1.73%，至14,823.43点。</blockquote></p><p> While the S&amp;P 500 registered its biggest daily percentage gain since March 5, the Nasdaq notched its biggest since May 20 and the Dow its biggest since July 20.</p><p><blockquote>虽然标普500创下3月5日以来最大单日百分比涨幅，但纳斯达克创下5月20日以来最大涨幅，道琼斯指数创下7月20日以来最大涨幅。</blockquote></p><p> Gains were broad-based, with all but <a href=\"https://laohu8.com/S/AONE.U\">one</a> S&amp;P 500 sector rising more than 1%.</p><p><blockquote>收益基础广泛，除了<a href=\"https://laohu8.com/S/AONE.U\">一</a>标普500板块涨超1%。</blockquote></p><p> Shares of Moderna Inc ended up 3.2% after a panel of expert advisers to the U.S. Food and Drug Administration voted to recommend booster shots of its COVID-19 vaccine for Americans aged 65 and older and those at high risk of severe illness.</p><p><blockquote>美国专家顾问小组表示，Moderna Inc.的股价最终上涨3.2%。美国食品药品监督管理局投票建议为65岁及以上的美国人和患有严重疾病的高风险人群注射新冠肺炎疫苗。</blockquote></p><p> <a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> Inc jumped 7.4% after the drugstore chain reported fourth-quarter revenue and adjusted profit above estimates and forecast growth of 11% to 13% in the long term.</p><p><blockquote><a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>Inc股价上涨7.4%，此前这家连锁药店公布第四季度营收和调整后利润高于预期，并预测长期增长率为11%至13%。</blockquote></p><p> U.S. companies are expected to report strong profit growth for the third quarter, but investors have been keen to hear what they say about rising costs, labor shortages and supply problems.</p><p><blockquote>预计美国企业将公布第三季度强劲的利润增长，但投资者一直渴望听到他们对成本上升、劳动力短缺和供应问题的看法。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 3.58-to-1 ratio; on Nasdaq, a 1.97-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为3.58比1；在纳斯达克，1.97比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 32 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 46 new lows.</p><p><blockquote>标普500创下32个52周新高，无新低；纳斯达克综合指数录得82个新高和46个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.26 billion shares, compared with the 10.8 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为92.6亿股，而过去20个交易日的平均成交量为108亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-surges-biggest-daily-percentage-rise-since-march-on-earnings-data-idUSL1N2RA2WC\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF-ProShares","OEX":"标普100","SPY":"标普500ETF","SH":"做空标普500-Proshares",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","IVV":"标普500ETF-iShares",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-surges-biggest-daily-percentage-rise-since-march-on-earnings-data-idUSL1N2RA2WC","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129314610","content_text":"NEW YORK (Reuters) - The S&P 500 jumped on Thursday, its biggest daily percentage advance since early March, as companies including Morgan Stanley and UnitedHealth climbed following strong results, while data on the labor market and inflation soothed fears over the outlook for higher rates.\nThe technology sector jumped 2.3%, giving the S&P 500 its biggest boost, with shares of Microsoft Corp and Apple Inc rising.\nShares of Citigroup, $Bank of America Corp(BAC-N)$ and Morgan Stanley also gained after they topped quarterly earnings estimates. The rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading added to profits. The S&P bank index jumped 1.5%.\nAlso, UnitedHealth Group Inc climbed 4.2% after the health insurer reported results and raised its full-year adjusted profit forecast on strength from its Optum unit that manages drug benefits.\nAdding to optimism, data showed the number of Americans filing new claims for unemployment benefits last week fell close to a 19-month low, and a separate report showed producer prices eased in September.\nData from recent inflation reports suggested COVID-driven price increases may have peaked. Still, Federal Reserve policymakers remain divided over inflation and what to do about it.\n“Some of the things that worried the market in September, and even last week, as far as the inflation aspect and higher interest rates and the Delta variant, maybe have lessened,” said Alan Lancz, president, Alan B. Lancz & Associates Inc., an investment advisory firm, based in Toledo, Ohio.\n“Not that it’s all over, but on a temporary scale at least, you can make a case for it trending in the right direction.”\nThe Dow Jones Industrial Average rose 534.75 points, or 1.56%, to 34,912.56, the S&P 500 gained 74.46 points, or 1.71%, to 4,438.26 and the Nasdaq Composite added 251.8 points, or 1.73%, to 14,823.43.\nWhile the S&P 500 registered its biggest daily percentage gain since March 5, the Nasdaq notched its biggest since May 20 and the Dow its biggest since July 20.\nGains were broad-based, with all but one S&P 500 sector rising more than 1%.\nShares of Moderna Inc ended up 3.2% after a panel of expert advisers to the U.S. Food and Drug Administration voted to recommend booster shots of its COVID-19 vaccine for Americans aged 65 and older and those at high risk of severe illness.\nWalgreens Boots Alliance Inc jumped 7.4% after the drugstore chain reported fourth-quarter revenue and adjusted profit above estimates and forecast growth of 11% to 13% in the long term.\nU.S. companies are expected to report strong profit growth for the third quarter, but investors have been keen to hear what they say about rising costs, labor shortages and supply problems.\nAdvancing issues outnumbered declining ones on the NYSE by a 3.58-to-1 ratio; on Nasdaq, a 1.97-to-1 ratio favored advancers.\nThe S&P 500 posted 32 new 52-week highs and no new lows; the Nasdaq Composite recorded 82 new highs and 46 new lows.\nVolume on U.S. exchanges was 9.26 billion shares, compared with the 10.8 billion average for the full session over the last 20 trading days.","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"ESmain":0.9,"SSO":0.9,"SH":0.9,"UPRO":0.9,"OEF":0.9,"SPY":0.9,"SDS":0.9,"SPXU":0.9,".DJI":0.9,".SPX":0.9,"IVV":0.9,"OEX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862738296,"gmtCreate":1632911835062,"gmtModify":1632911835261,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862738296","repostId":"2171798605","repostType":4,"isVote":1,"tweetType":1,"viewCount":991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862738685,"gmtCreate":1632911823288,"gmtModify":1632911823463,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862738685","repostId":"1179744266","repostType":4,"isVote":1,"tweetType":1,"viewCount":834,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862738116,"gmtCreate":1632911812555,"gmtModify":1632911812714,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862738116","repostId":"1198528044","repostType":4,"repost":{"id":"1198528044","kind":"news","pubTimestamp":1632882697,"share":"https://www.laohu8.com/m/news/1198528044?lang=zh_CN&edition=full","pubTime":"2021-09-29 10:31","market":"us","language":"en","title":"Technically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198528044","media":"seekingalpha","summary":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protect","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>  <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>  <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li> </ul> Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p><p><blockquote><ul><li>鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</li><li>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</li><li>虽然在融化持续期间利用它是至关重要的，但不要过于自满“这次不同了”。</li></ul>是<i>“市场融化？”</i>这是我从我的同事那里收到的问题<i>少废话投资。</i>考虑到投资者认为的持续增长，这是一个很好的问题<i>“没有风险”</i>市场。</blockquote></p><p> Of course, we need a definition of precisely what constitutes a melt-up.</p><p><blockquote>当然，我们需要一个准确定义什么是融化。</blockquote></p><p>   <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>  <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>  <i>rather than by fundamental improvements in the economy.“</i>–  <i>Investopedia</i>  Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p><p><blockquote><i>他说：“熔断是指一项资产或资产类别的投资表现持续且往往出乎意料的改善，部分原因是</i><i><b>不想错过其上涨机会的投资者蜂拥而至，</b></i><i>而不是经济的根本改善。”</i>–<i>投资百科</i>目前，有足够的证据支持市场繁荣的观点。<b><i>如前所述：</i></b></blockquote></p><p>   <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>    <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>  <ul>  <li><b><i>High optimism</i></b></li>  <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>  <li><b><i>A rush of initial and secondary offerings</i></b></li>  <li><b><i>Risky stocks outperforming</i></b></li>  <li><b><i>Stretched valuations</i></b></li> </ul> <img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote><i>“在市场周期接近峰值时，投资者会被潜在的繁荣所席卷。这种繁荣滋生了“合理化”，即“这次不同了”。那么，你如何知道市场目前是繁荣的呢？通过情绪交易者：”</i><i>这种类型的市场活动表明市场已经回到了“热情”阶段。其特征在于：</i><ul><li><b><i>高度乐观</i></b></li><li><b><i>宽松信贷（太宽松，条款宽松）</i></b></li><li><b><i>首次和二次发行热潮</i></b></li><li><b><i>风险股跑赢大盘</i></b></li><li><b><i>估值过高</i></b></li></ul></blockquote></p><p> However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p><p><blockquote>然而，虽然人们会期望个人在这样的环境中表现出谨慎，但事实恰恰相反。鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</blockquote></p><p> <b>A Visualization Of A Market Melting-Up</b></p><p><blockquote><b>市场融化的可视化</b></blockquote></p><p> It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p><p><blockquote>想象某事通常比解释它更容易。<b>自1900年以来，只有两个市场时期符合熔化的条件：1920-1929年和1995-2000年。</b>下图显示了这两个时期的价格。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p><p><blockquote>然而，估值的大幅上涨也直观地体现了这种融化。这一点至关重要，因为盈利增长速度不足以支撑价格上涨。<b>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p><p><blockquote>我们可以将前两个时期与当前从2020年3月低点的上涨进行比较。我们再次看到非常相似的价格大幅上涨和估值飙升。正如预期的那样，投资者目前希望未来收益将大幅上涨，足以证明当前价格的合理性。然而，支付高价的理由是美联储持续的资产负债表扩张。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p><p><blockquote>下图显示，价格上涨和估值指标略有不同。它显示了当前与长期指数增长趋势的背离。毫不奇怪，在市场期间<i>“融化。”</i>与估值加速相匹配的增长趋势出现了快速背离。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p><p><blockquote>市场的问题<i>“融化”</i>不是融化本身，而是随之而来的一切。</blockquote></p><p> <b>Melting-Up Leads To Melting-Down</b></p><p><blockquote><b>熔化导致熔化</b></blockquote></p><p> A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p><p><blockquote>市场融化持续下去是令人兴奋的。在熔断期间，投资者开始合理化原因<i>“这次不一样。”</i>他们开始过度杠杆，试图利用价格的快速上涨，基本面让位于价格动能。</blockquote></p><p></p><p> Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p><p><blockquote>市场融化都是关于<i>“心理学。”</i><b>从历史上看，无论引发忽视风险的催化剂是什么，都很容易在价格和估值的相应飙升中看到。</b>下图显示了相对强度、偏差和估值的长期偏差。上一篇<i>“融化”</i>与目前的进展相比，时期应该很容易发现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p><p><blockquote>鉴于目前的延期仅与历史上少数罕见的时期相匹配，有几点应该是显而易见的。</blockquote></p><p> <ol>  <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>  <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>  <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>  <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>  <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li> </ol> It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p><p><blockquote><ol><li><b><i>融化的时间可能比逻辑预测的要长。</i></b></li><li><b><i>普遍的心理总是“这次不一样了”。</i></b></li><li><b><i>估值被驳回，以换取动量和前瞻性预期的衡量标准。</i></b></li><li><b><i>投资者为了参与一个看似“输不起”的市场，承担了过多的杠杆和风险。</i></b></li><li><b><i>最后，不可避免的是，“融化”以最糟糕的结果告终。</i></b></li></ol>必须认识到市场正处于<i>“融化，</i>“而且该事件的持续时间是未知的。因此，投资者需要一种策略来参与提前并减轻最终的损失<i>“熔化。”</i></blockquote></p><p> <b>Surviving The Melt-Up</b></p><p><blockquote><b>在融化中幸存下来</b></blockquote></p><p> <b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p><p><blockquote><b>如上所述，这些都不意味着下一个</b><b><i>“熊市”</i></b><b>正在潜伏。</b>鉴于市场融化是心理作用，它们可以持续更长时间，走得比逻辑预测的更远。需要什么“<i>结束“</i>融化是一种意想不到的外生事件，它将心理从看涨转变为看跌。这就是人们蜂拥退出的时候，价格会迅速下跌。</blockquote></p><p> As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p><p><blockquote>因此，投资者需要一套指导方针来参与市场上涨。但是，当然，困难的部分是在不可避免地发生调整时保持这些收益。</blockquote></p><p> As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p><p><blockquote>作为客户的投资组合经理，这正是我们必须采取的方法。因此，我提供了我们采用的流程的总体概述。</blockquote></p><p> <ol>  <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>  <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>  <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>  <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>  <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li> </ol> <b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p><p><blockquote><ol><li><i><b>收紧止损水平</b></i><i>每个头寸的当前支撑位。（当市场反转时提供可识别的退出点。）</i></li><li><i><b>对冲投资组合</b></i><i>（非相关资产、空头市场头寸、指数看跌期权）</i></li><li><i><b>获利了结</b></i><i>在已经成为大赢家的头寸中（重新平衡超买或扩展头寸以获取收益，但继续参与上涨。）</i></li><li><i><b>出售落后者</b></i><i>和失败者</i>.<i>（如果某些东西在市场融化时不起作用，那么在广泛下跌时很可能也不会起作用。最好尽早消除风险。）</i></li><li><i><b>筹集现金</b></i><i>并重新平衡投资组合以达到目标权重。（定期重新平衡风险可以在一定程度上减轻隐藏的风险。）</i></li></ol><b>注意，里面没有任何东西说，</b><b><i>“卖掉所有东西，去兑现。”</i></b></blockquote></p><p> There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p><p><blockquote>将会有一段时间来筹集大量现金。一个好的投资组合管理策略将自动确保<i>“止损”</i>当出售开始时，水平被触发，风险减少，现金水平上升。</blockquote></p><p> While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p><p><blockquote>虽然有必要在融化持续期间利用它，但不要过于自满<i>“这次不一样。”</i></blockquote></p><p> It likely isn’t.</p><p><blockquote>很可能不是。</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>Technically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</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\">\nTechnically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-09-29 10:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>  <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>  <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li> </ul> Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p><p><blockquote><ul><li>鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</li><li>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</li><li>虽然在融化持续期间利用它是至关重要的，但不要过于自满“这次不同了”。</li></ul>是<i>“市场融化？”</i>这是我从我的同事那里收到的问题<i>少废话投资。</i>考虑到投资者认为的持续增长，这是一个很好的问题<i>“没有风险”</i>市场。</blockquote></p><p> Of course, we need a definition of precisely what constitutes a melt-up.</p><p><blockquote>当然，我们需要一个准确定义什么是融化。</blockquote></p><p>   <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>  <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>  <i>rather than by fundamental improvements in the economy.“</i>–  <i>Investopedia</i>  Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p><p><blockquote><i>他说：“熔断是指一项资产或资产类别的投资表现持续且往往出乎意料的改善，部分原因是</i><i><b>不想错过其上涨机会的投资者蜂拥而至，</b></i><i>而不是经济的根本改善。”</i>–<i>投资百科</i>目前，有足够的证据支持市场繁荣的观点。<b><i>如前所述：</i></b></blockquote></p><p>   <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>    <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>  <ul>  <li><b><i>High optimism</i></b></li>  <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>  <li><b><i>A rush of initial and secondary offerings</i></b></li>  <li><b><i>Risky stocks outperforming</i></b></li>  <li><b><i>Stretched valuations</i></b></li> </ul> <img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote><i>“在市场周期接近峰值时，投资者会被潜在的繁荣所席卷。这种繁荣滋生了“合理化”，即“这次不同了”。那么，你如何知道市场目前是繁荣的呢？通过情绪交易者：”</i><i>这种类型的市场活动表明市场已经回到了“热情”阶段。其特征在于：</i><ul><li><b><i>高度乐观</i></b></li><li><b><i>宽松信贷（太宽松，条款宽松）</i></b></li><li><b><i>首次和二次发行热潮</i></b></li><li><b><i>风险股跑赢大盘</i></b></li><li><b><i>估值过高</i></b></li></ul></blockquote></p><p> However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p><p><blockquote>然而，虽然人们会期望个人在这样的环境中表现出谨慎，但事实恰恰相反。鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</blockquote></p><p> <b>A Visualization Of A Market Melting-Up</b></p><p><blockquote><b>市场融化的可视化</b></blockquote></p><p> It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p><p><blockquote>想象某事通常比解释它更容易。<b>自1900年以来，只有两个市场时期符合熔化的条件：1920-1929年和1995-2000年。</b>下图显示了这两个时期的价格。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p><p><blockquote>然而，估值的大幅上涨也直观地体现了这种融化。这一点至关重要，因为盈利增长速度不足以支撑价格上涨。<b>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p><p><blockquote>我们可以将前两个时期与当前从2020年3月低点的上涨进行比较。我们再次看到非常相似的价格大幅上涨和估值飙升。正如预期的那样，投资者目前希望未来收益将大幅上涨，足以证明当前价格的合理性。然而，支付高价的理由是美联储持续的资产负债表扩张。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p><p><blockquote>下图显示，价格上涨和估值指标略有不同。它显示了当前与长期指数增长趋势的背离。毫不奇怪，在市场期间<i>“融化。”</i>与估值加速相匹配的增长趋势出现了快速背离。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p><p><blockquote>市场的问题<i>“融化”</i>不是融化本身，而是随之而来的一切。</blockquote></p><p> <b>Melting-Up Leads To Melting-Down</b></p><p><blockquote><b>熔化导致熔化</b></blockquote></p><p> A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p><p><blockquote>市场融化持续下去是令人兴奋的。在熔断期间，投资者开始合理化原因<i>“这次不一样。”</i>他们开始过度杠杆，试图利用价格的快速上涨，基本面让位于价格动能。</blockquote></p><p></p><p> Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p><p><blockquote>市场融化都是关于<i>“心理学。”</i><b>从历史上看，无论引发忽视风险的催化剂是什么，都很容易在价格和估值的相应飙升中看到。</b>下图显示了相对强度、偏差和估值的长期偏差。上一篇<i>“融化”</i>与目前的进展相比，时期应该很容易发现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p><p><blockquote>鉴于目前的延期仅与历史上少数罕见的时期相匹配，有几点应该是显而易见的。</blockquote></p><p> <ol>  <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>  <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>  <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>  <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>  <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li> </ol> It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p><p><blockquote><ol><li><b><i>融化的时间可能比逻辑预测的要长。</i></b></li><li><b><i>普遍的心理总是“这次不一样了”。</i></b></li><li><b><i>估值被驳回，以换取动量和前瞻性预期的衡量标准。</i></b></li><li><b><i>投资者为了参与一个看似“输不起”的市场，承担了过多的杠杆和风险。</i></b></li><li><b><i>最后，不可避免的是，“融化”以最糟糕的结果告终。</i></b></li></ol>必须认识到市场正处于<i>“融化，</i>“而且该事件的持续时间是未知的。因此，投资者需要一种策略来参与提前并减轻最终的损失<i>“熔化。”</i></blockquote></p><p> <b>Surviving The Melt-Up</b></p><p><blockquote><b>在融化中幸存下来</b></blockquote></p><p> <b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p><p><blockquote><b>如上所述，这些都不意味着下一个</b><b><i>“熊市”</i></b><b>正在潜伏。</b>鉴于市场融化是心理作用，它们可以持续更长时间，走得比逻辑预测的更远。需要什么“<i>结束“</i>融化是一种意想不到的外生事件，它将心理从看涨转变为看跌。这就是人们蜂拥退出的时候，价格会迅速下跌。</blockquote></p><p> As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p><p><blockquote>因此，投资者需要一套指导方针来参与市场上涨。但是，当然，困难的部分是在不可避免地发生调整时保持这些收益。</blockquote></p><p> As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p><p><blockquote>作为客户的投资组合经理，这正是我们必须采取的方法。因此，我提供了我们采用的流程的总体概述。</blockquote></p><p> <ol>  <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>  <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>  <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>  <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>  <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li> </ol> <b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p><p><blockquote><ol><li><i><b>收紧止损水平</b></i><i>每个头寸的当前支撑位。（当市场反转时提供可识别的退出点。）</i></li><li><i><b>对冲投资组合</b></i><i>（非相关资产、空头市场头寸、指数看跌期权）</i></li><li><i><b>获利了结</b></i><i>在已经成为大赢家的头寸中（重新平衡超买或扩展头寸以获取收益，但继续参与上涨。）</i></li><li><i><b>出售落后者</b></i><i>和失败者</i>.<i>（如果某些东西在市场融化时不起作用，那么在广泛下跌时很可能也不会起作用。最好尽早消除风险。）</i></li><li><i><b>筹集现金</b></i><i>并重新平衡投资组合以达到目标权重。（定期重新平衡风险可以在一定程度上减轻隐藏的风险。）</i></li></ol><b>注意，里面没有任何东西说，</b><b><i>“卖掉所有东西，去兑现。”</i></b></blockquote></p><p> There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p><p><blockquote>将会有一段时间来筹集大量现金。一个好的投资组合管理策略将自动确保<i>“止损”</i>当出售开始时，水平被触发，风险减少，现金水平上升。</blockquote></p><p> While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p><p><blockquote>虽然有必要在融化持续期间利用它，但不要过于自满<i>“这次不一样。”</i></blockquote></p><p> It likely isn’t.</p><p><blockquote>很可能不是。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198528044","content_text":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.\n\nIs the“market melting-up?”Such was the question I received from my colleague atCut The Crap Investing.It is an excellent question given the relentless increase in what investors believe is a“no risk”market.\nOf course, we need a definition of precisely what constitutes a melt-up.\n\n“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly\nby a stampede of investors who don’t want to miss out on its rise,\nrather than by fundamental improvements in the economy.“–\n Investopedia\n\nCurrently, there is sufficient evidence to support the idea of an exuberant market.As noted previously:\n\n“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”\n\n\n‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’\n\n\nHigh optimism\nEasy credit (too easy, with loose terms)\nA rush of initial and secondary offerings\nRisky stocks outperforming\nStretched valuations\n\n\nHowever, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nA Visualization Of A Market Melting-Up\nIt is often easier to visualize something rather than explain it.Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.The chart below shows both periods in terms of price.\n\nHowever, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\n\nWe can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.\n\nThe following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market“melt-up,”there is a rapid deviation from the growth trend matching the acceleration in valuations.\n\nThe problem with market“melt-ups”is not the melt-up itself but what always follows.\nMelting-Up Leads To Melting-Down\nA market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why“this time is different.”They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.\nMarket melt-ups are all about“psychology.”Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous‘melt-up”periods should be easy to spot when compared with the advance currently.\n\nGiven that current extensions match only a few rare periods in history, a couple of points should be readily apparent.\n\nMelt-ups can longer than logic would predict.\nThe prevailing psychology is always “this time is different.”\nValuations are dismissed in exchange for measures of momentum and forward expectations.\nInvestors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.\nLastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.\n\nIt is essential to recognize the markets are in a“melt-up,” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual“melting-down.”\nSurviving The Melt-Up\nAs noted, none of this means the next“bear market”is lurking.Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “end”a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.\nAs such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.\nAs portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.\n\nTighten up stop-loss levelsto current support levels for each position.(Provides identifiable exit points when the market reverses.)\nHedge portfoliosagainst major market declines.(Non-correlated assets, short-market positions, index put options)\nTake profitsin positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)\nSell laggardsand losers.(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)\nRaise cashand rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)\n\nNotice, nothing in there says,“sell everything and go to cash.”\nThere will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that“stop-loss”levels get triggered, exposure decreases, and cash levels rise when the selling begins.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent“this time is different.”\nIt likely isn’t.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866968892,"gmtCreate":1632724507216,"gmtModify":1632798285777,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/866968892","repostId":"1122691301","repostType":4,"isVote":1,"tweetType":1,"viewCount":1203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866968162,"gmtCreate":1632724497256,"gmtModify":1632798285897,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866968162","repostId":"2170488786","repostType":4,"repost":{"id":"2170488786","kind":"news","pubTimestamp":1632685409,"share":"https://www.laohu8.com/m/news/2170488786?lang=zh_CN&edition=full","pubTime":"2021-09-27 03:43","market":"other","language":"en","title":"Debt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2170488786","media":"Yahoo Finance","summary":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race t","content":"<p><div> Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p><p><blockquote><div>投资者本周将密切关注华盛顿特区的事态发展，因为议员们竞相通过立法，以避免政府在本月底关闭，并就提高...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Debt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDebt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-09-27 03:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p><p><blockquote><div>投资者本周将密切关注华盛顿特区的事态发展，因为议员们竞相通过立法，以避免政府在本月底关闭，并就提高...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">Yahoo Finance</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7e749e88d2580d292ffc6ae18d03b65","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust"},"source_url":"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170488786","content_text":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.\nThe Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.\nThe latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.\nSenate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.\n\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.\nDemocratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.\n\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.\nFederal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.\n\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no one should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"\nA dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS\nAmid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.\nThough leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.\n\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"\n\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.\nInvestors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.\nMany strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.\n\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"\n\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"\nHistorical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.\n\"In the 14 government shutdowns since 1980, the S&P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.\n\"One notable exception was the most recent federal shutdown in December 2018, when the S&P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"\nKostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.\nConsumer confidence\nOn the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.\nThe Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.\nSpecifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.\n\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"\nAt the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"\nThe latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.\nEconomic calendar\n\nMonday: Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)\nTuesday: Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)\nWednesday: MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)\nThursday: Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)\nFriday: Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); Markit manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)\n\nEarnings calendar\n\nMonday: Aurora Cannabis (ACB) after market close\nTuesday: Micron Technology (MU) after market close.\nWednesday: No notable reports scheduled for release\nThursday: CarMax (KMX), Bed Bath & Beyond (BBBY) before market open; Jefferies (JEF) after market close\nFriday: No notable reports scheduled for releas","news_type":1,"symbols_score_info":{"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":859,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861884596,"gmtCreate":1632483040815,"gmtModify":1632719155447,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861884596","repostId":"2169061852","repostType":4,"isVote":1,"tweetType":1,"viewCount":1079,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861884600,"gmtCreate":1632483025000,"gmtModify":1632719158448,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861884600","repostId":"1120563137","repostType":4,"repost":{"id":"1120563137","kind":"news","pubTimestamp":1632482489,"share":"https://www.laohu8.com/m/news/1120563137?lang=zh_CN&edition=full","pubTime":"2021-09-24 19:21","market":"us","language":"en","title":"Aterian Offers Short-Squeeze Possibilities and Much More<blockquote>Aterian提供空头挤压的可能性等等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120563137","media":"InvestorPlace","summary":"If you missed out on the last huge ATER stock, another may be on the way.\n\nWant to ride a wild horse","content":"<p><div> If you missed out on the last huge ATER stock, another may be on the way.  Want to ride a wild horse in the stock market? If so, then I dare you to check out New York City-basedAterian(NASDAQ:ATER) ...</p><p><blockquote><div>如果您错过了最后一只巨大的ATER股票，另一只可能即将上市。想在股市里骑一匹野马？如果是这样，那么我敢说你去看看总部位于纽约市的Tererian（纳斯达克：ATER）...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Aterian Offers Short-Squeeze Possibilities and Much More<blockquote>Aterian提供空头挤压的可能性等等</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAterian Offers Short-Squeeze Possibilities and Much More<blockquote>Aterian提供空头挤压的可能性等等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-09-24 19:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> If you missed out on the last huge ATER stock, another may be on the way.  Want to ride a wild horse in the stock market? If so, then I dare you to check out New York City-basedAterian(NASDAQ:ATER) ...</p><p><blockquote><div>如果您错过了最后一只巨大的ATER股票，另一只可能即将上市。想在股市里骑一匹野马？如果是这样，那么我敢说你去看看总部位于纽约市的Tererian（纳斯达克：ATER）...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ATER":"Aterian Inc."},"source_url":"https://investorplace.com/2021/09/ater-stock-offers-short-squeeze-possibilities-and-much-more/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120563137","content_text":"If you missed out on the last huge ATER stock, another may be on the way.\n\nWant to ride a wild horse in the stock market? If so, then I dare you to check out New York City-basedAterian(NASDAQ:ATER) stock and assess your risk tolerance.\nLet me tell you now, ATER stock is definitely not for the faint of heart.\nJust to give you a quick primer, Mohawk Group (which used to trade as MWK stock)re-branded itself asAterian in late April of this year. It’s still the same company, just with a different name.\nTo put it as simply as possible, Aterian is a technology-enabled consumer products company. The company uses machine learning, data analytics and natural language processing to facilitate product sales on various online marketplaces.\nAs an investor, you might be interested in Aterian’s potential for growth as a leading technology-powered consumer-product platform.\nAs a short-term trader, however, you may find ATER stock intriguing as a possible short-squeeze target among social-media users.\nA Closer Look at ATER Stock\nHere’s something spooky. On Sept. 21, 2021, the Aterian share price landed at exactly $13. Some folks might say that’s an unlucky number.\nThe shareholders were certainly lucky that day, though. ATER stock jumped nearly 11% on Sept. 21, without any company-specific news catalyst to justify a price move of that magnitude. But then, this isn’t unusual. If you’re going to invest in Aterian, prepare for daily volatility, including price moves of 10% or more sometimes.\nSpeaking of big price moves, the early 2021 rally in ATER stock was truly stunning. Believe it or not, the stock rocketed from $17 at the start of January, to a 52-week high of $48.99 in February.\nChasing the stock at that price turned out to be a costly move, however. After topping out, the Aterian share price slid during the next half-year, even touching $3 in August.\nYet, during the darkest days, miracles can happen. It looks like ATER stock is already starting to stage a comeback in mid-September. Could the rebound to $13 be the start of something bigger and better?\nWant Results? You Got ’em\nThis section will be dedicated to the folks who are less interested in Reddit-fueled short squeezes, and more focused on businesses that execute. Don’t worry – we’ll check in on the social-media sentiment momentarily.\nBoth short-term traders and long-term investors should be glad to learn, however, that Aterian is firing on all cylinders, fiscally speaking.\nWe’ll offer up the company’ssecond-quarter 2021 resultsas evidence of this. Here are the bullet points, for your convenience:\n\nNet revenues grew 14% year-over-year, to $68.2 million\nGross margin improved year-over-year, from 46.2% to 48%\nOperating income totaled $4.5 million – a vast improvement over the year-earlier quarter’s operating loss of $1.8 million\nBrightening balance sheet, as Aterian’s total cash balance increased by $26.9 million from March 31, to $61.9 million on June 30\n19 new products launched in the second quarter\n\nNot too shabby, considering the second quarter’s challenges to the global e-commerce market.\nThese included, “a global supply chain crisis, inflation and an extreme shift in consumer behavior due to the opening of brick and mortar stores after the relaxation of COVID-19 related restrictions,” according to Aterian co-founder and CEO Yaniv Sarig.\nDreams of Memes\nSo, we’ve established that Aterian is a worthy business to invest in. How about something to pique the interest of the short-squeeze crowd, though?\nNo problem – here’s something to whet your appetite.\nOn Sept. 21, a quick glance at theFintel Short Squeeze Screener and Leaderboard, reveals that the U.S. stock with the highest likelihood of experiencing a short squeeze is ATER.\nAt that time, the stock reportedly had a short interest of 35.72% of the total float.\nPlus, not long ago, InvestorPlacecontributor Alex Sirois surveyed some tweets and concluded, “The general consensus is that Aterian should somehow retest former highswell above $30 earlier this year.”\nThe Bottom Line\nThere’s definitely a groundswell of support in progress on social media.@Pineapplestocks, for example, says that there’s a“Decent bullish setup here!!”in ATER stock.\nMeanwhile,@JWildeDTis bracing traders for a share-price move“to $20”with a rocket-ship emoticon.\nClearly, the meme-stock trade is alive and well – and for all I know, Aterian could be on deck for a short squeeze of epic proportions.\nAll in all, ATER stock is a fast little runner that traders can have fun with. At the same time, Aterian is a serious company with the fiscal stats to prove its shareholder value.\nSo, pick your time frame: hold it, or just trade it.\nEither way, you can find something to like about ATER stock.","news_type":1,"symbols_score_info":{"ATER":0.9}},"isVote":1,"tweetType":1,"viewCount":1054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861884182,"gmtCreate":1632483008846,"gmtModify":1632719164450,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586942609729444","authorIdStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861884182","repostId":"2169904826","repostType":4,"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":887922230,"gmtCreate":1631961685920,"gmtModify":1632805068214,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/887922230","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.收购面向千禧一代和Z世代消费者的数字化时尚品牌，从2018年收购Princess Polly开始。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.收购面向千禧一代和Z世代消费者的数字化时尚品牌，从2018年收购Princess Polly开始。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RELY":"Remitly Global, Inc.","SOVO":"Sovos Brands, Inc.","CWAN":"Clearwater Analytics Holdings, Inc.","BRLT":"Brilliant Earth Group, Inc.","AKA":"a.k.a. Brands Holding Corp.","ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","TOST":"Toast, Inc.","ESMT":"EngageSmart Inc.","HLTH":"Cue Health Inc.","THRN":"Thorne Healthtech","STER":"Sterling Check Corp."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"STER":0.9,"AKA":0.9,"RELY":0.9,"TOST":0.9,"KDC":0.9,"ESMT":0.9,"BRLT":0.9,"ARBK":0.9,"FRSH":0.9,"SOVO":0.9,"HLTH":0.9,"THRN":0.9,"CWAN":0.9}},"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":847570478,"gmtCreate":1636539842281,"gmtModify":1636539842407,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/847570478","repostId":"1114810382","repostType":4,"isVote":1,"tweetType":1,"viewCount":2897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":802770724,"gmtCreate":1627814794268,"gmtModify":1631890420780,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Nice sharing","listText":"Nice sharing","text":"Nice sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802770724","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":872748428,"gmtCreate":1637580676561,"gmtModify":1637580676561,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872748428","repostId":"1153786917","repostType":4,"repost":{"id":"1153786917","kind":"news","pubTimestamp":1637534687,"share":"https://www.laohu8.com/m/news/1153786917?lang=zh_CN&edition=full","pubTime":"2021-11-22 06:44","market":"us","language":"en","title":"Best Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153786917","media":"Barrons","summary":"The tail end of third-quarter earnings season will bring more results from major retailers next week","content":"<p>The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including&nbsp;Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and&nbsp;Gap.</p><p><blockquote>就在购物者为黑色星期五做准备之际，第三季度财报季的尾声将在下周带来更多主要零售商的业绩。周二，投资者将获得一些零售业巨头的季度业绩，包括百思买、伯灵顿商店、迪克体育用品、美元树和Gap。</blockquote></p><p> Friday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.</p><p><blockquote>周五将是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。</blockquote></p><p> Non-retail highlights on the earnings calendar next week include&nbsp;Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and&nbsp;VMware&nbsp;on Tuesday, Deere&nbsp;on Wednesday&nbsp;and&nbsp;Pinduoduo,Meituan and RLX Technology&nbsp;on Friday.</p><p><blockquote>下周财报日历上的非零售亮点包括周一的Zoom Video通信、周二的小鹏汽车、小米公司、欧特克、戴尔科技和VMware、周三的Deere以及周五的拼多多、美团-W和RLX科技。</blockquote></p><p> The National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.</p><p><blockquote>全国房地产经纪人协会周一公布了10月份的现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。</blockquote></p><p> On Tuesday,IHS Markit&nbsp;releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.</p><p><blockquote>周二，IHS Markit发布了11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。</blockquote></p><p> On Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.</p><p><blockquote>周三，联邦公开市场委员会公布了11月初货币政策会议纪要。美国人口普查局还发布10月份耐用品报告，而美国经济分析局则报告10月份个人收入和支出。</blockquote></p><p> U.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.</p><p><blockquote>美国股市和固定收益市场将于周四因感恩节休市。周五，纳斯达克和纽约证券交易所下午1点结束交易，而债券市场下午2点收盘。</blockquote></p><p> Agilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.</p><p><blockquote>安捷伦科技、是德科技、Zoom Video通信发布季度业绩。</blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.</p><p><blockquote><b>全国协会</b>房地产经纪人报告10月份现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。去年10月，成屋销量达到金融危机后的峰值673万套，今年大部分时间都在下降，部分原因是供应限制，尤其是在房地产市场的低端。</blockquote></p><p> Analog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.</p><p><blockquote>ADI公司、欧特克公司、百思买公司、伯灵顿商店公司、戴尔技术公司、迪克体育用品公司、美元树公司、Gap公司、HPInc公司。，J.MSmucker、Jacobs Engineering Group、Medtronic和VMware报告收益。</blockquote></p><p> <b>IHS Markit releases</b> both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.</p><p><blockquote><b>IHS Markit发布</b>11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。这两个数字都略高于10月份的数据。这两个指数都脱离了今年早些时候的峰值，但高于一年前的水平。</blockquote></p><p> <b>The BEA reports</b> its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.</p><p><blockquote><b>东亚银行报告</b>其对第三季度国内生产总值的第二次估计。经济学家预测年化增长率为2.2%，高于东亚银行10月底初步估计的2%。</blockquote></p><p> Deere reports fiscal fourth-quarter 2021 results.</p><p><blockquote>Deere公布2021财年第四季度业绩。</blockquote></p><p> <b>The Federal Open Market</b> Committee releases minutes from its early-November monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布11月初货币政策会议纪要。</blockquote></p><p> <b>The Census Bureau</b> releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.</p><p><blockquote><b>人口普查局</b>发布10月份耐用品报告。经济学家预测耐用品新订单环比增长0.2%，达到2620亿美元。不包括运输，新订单预计将增长0.5%，与9月份的增幅持平。</blockquote></p><p> <b>The BEA reports</b> personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.</p><p><blockquote><b>东亚银行报告</b>10月份个人收入和支出。看涨期权普遍认为，继9月份收入下降1%后，每月收入将增长0.4%。个人支出预计将环比增长1%，快于9月份0.6%的增幅。</blockquote></p><p> <b>U.S. bourses</b> and fixed-income markets are closed in observance of Thanksgiving.</p><p><blockquote><b>美国证券交易所</b>固定收益市场因感恩节休市。</blockquote></p><p> <b>It’s Black Friday</b>, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.</p><p><blockquote><b>今天是黑色星期五</b>这是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。美国交易所在感恩节后的第二天缩短了交易时段。纳斯达克和纽约证券交易所下午1点结束交易，债券市场下午2点收盘。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Best Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBest Buy, Zoom, Pinduoduo, Xpeng,Xiaomi,Meituan and Other Stocks for Investors to Watch This Week<blockquote>百思买、Zoom、拼多多、小鹏汽车、小米、美团-W等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-22 06:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including&nbsp;Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and&nbsp;Gap.</p><p><blockquote>就在购物者为黑色星期五做准备之际，第三季度财报季的尾声将在下周带来更多主要零售商的业绩。周二，投资者将获得一些零售业巨头的季度业绩，包括百思买、伯灵顿商店、迪克体育用品、美元树和Gap。</blockquote></p><p> Friday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.</p><p><blockquote>周五将是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。</blockquote></p><p> Non-retail highlights on the earnings calendar next week include&nbsp;Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and&nbsp;VMware&nbsp;on Tuesday, Deere&nbsp;on Wednesday&nbsp;and&nbsp;Pinduoduo,Meituan and RLX Technology&nbsp;on Friday.</p><p><blockquote>下周财报日历上的非零售亮点包括周一的Zoom Video通信、周二的小鹏汽车、小米公司、欧特克、戴尔科技和VMware、周三的Deere以及周五的拼多多、美团-W和RLX科技。</blockquote></p><p> The National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.</p><p><blockquote>全国房地产经纪人协会周一公布了10月份的现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。</blockquote></p><p> On Tuesday,IHS Markit&nbsp;releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.</p><p><blockquote>周二，IHS Markit发布了11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。</blockquote></p><p> On Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.</p><p><blockquote>周三，联邦公开市场委员会公布了11月初货币政策会议纪要。美国人口普查局还发布10月份耐用品报告，而美国经济分析局则报告10月份个人收入和支出。</blockquote></p><p> U.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.</p><p><blockquote>美国股市和固定收益市场将于周四因感恩节休市。周五，纳斯达克和纽约证券交易所下午1点结束交易，而债券市场下午2点收盘。</blockquote></p><p> Agilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.</p><p><blockquote>安捷伦科技、是德科技、Zoom Video通信发布季度业绩。</blockquote></p><p> <b>The National Association</b> of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.</p><p><blockquote><b>全国协会</b>房地产经纪人报告10月份现房销售情况。市场普遍估计，经季节调整后，房屋销售量为619万套，比9月份减少10万套。去年10月，成屋销量达到金融危机后的峰值673万套，今年大部分时间都在下降，部分原因是供应限制，尤其是在房地产市场的低端。</blockquote></p><p> Analog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.</p><p><blockquote>ADI公司、欧特克公司、百思买公司、伯灵顿商店公司、戴尔技术公司、迪克体育用品公司、美元树公司、Gap公司、HPInc公司。，J.MSmucker、Jacobs Engineering Group、Medtronic和VMware报告收益。</blockquote></p><p> <b>IHS Markit releases</b> both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.</p><p><blockquote><b>IHS Markit发布</b>11月份制造业和服务业采购经理人指数。预期制造业PMI为59.5，服务业PMI为59。这两个数字都略高于10月份的数据。这两个指数都脱离了今年早些时候的峰值，但高于一年前的水平。</blockquote></p><p> <b>The BEA reports</b> its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.</p><p><blockquote><b>东亚银行报告</b>其对第三季度国内生产总值的第二次估计。经济学家预测年化增长率为2.2%，高于东亚银行10月底初步估计的2%。</blockquote></p><p> Deere reports fiscal fourth-quarter 2021 results.</p><p><blockquote>Deere公布2021财年第四季度业绩。</blockquote></p><p> <b>The Federal Open Market</b> Committee releases minutes from its early-November monetary-policy meeting.</p><p><blockquote><b>联邦公开市场</b>委员会发布11月初货币政策会议纪要。</blockquote></p><p> <b>The Census Bureau</b> releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.</p><p><blockquote><b>人口普查局</b>发布10月份耐用品报告。经济学家预测耐用品新订单环比增长0.2%，达到2620亿美元。不包括运输，新订单预计将增长0.5%，与9月份的增幅持平。</blockquote></p><p> <b>The BEA reports</b> personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.</p><p><blockquote><b>东亚银行报告</b>10月份个人收入和支出。看涨期权普遍认为，继9月份收入下降1%后，每月收入将增长0.4%。个人支出预计将环比增长1%，快于9月份0.6%的增幅。</blockquote></p><p> <b>U.S. bourses</b> and fixed-income markets are closed in observance of Thanksgiving.</p><p><blockquote><b>美国证券交易所</b>固定收益市场因感恩节休市。</blockquote></p><p> <b>It’s Black Friday</b>, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.</p><p><blockquote><b>今天是黑色星期五</b>这是一年中最繁忙的购物日之一，也是假日购物季的传统开始。美国零售联合会估计，今年11月和12月，美国消费者的支出将达到创纪录的8510亿美元，比去年增长9.5%。美国交易所在感恩节后的第二天缩短了交易时段。纳斯达克和纽约证券交易所下午1点结束交易，债券市场下午2点收盘。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/best-buy-zoom-dell-deere-and-other-stocks-for-investors-to-watch-this-week-51637524800?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBY":"百思买","DE":"迪尔股份有限公司",".IXIC":"NASDAQ Composite","ZM":"Zoom","DELL":"戴尔",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/best-buy-zoom-dell-deere-and-other-stocks-for-investors-to-watch-this-week-51637524800?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153786917","content_text":"The tail end of third-quarter earnings season will bring more results from major retailers next week, just as shoppers prepare for Black Friday. On Tuesday, investors will get quarterly results from some of retail’s biggest names, including Best Buy,Burlington Stores,Dick’s Sporting Goods,Dollar Tree,and Gap.\nFriday will bring one of the busiest shopping days of the year and the traditional kick off for holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year.\nNon-retail highlights on the earnings calendar next week include Zoom Video Communications on Monday,Xpeng,Xiaomi Corporation,Autodesk,Dell Technologies,and VMware on Tuesday, Deere on Wednesday and Pinduoduo,Meituan and RLX Technology on Friday.\nThe National Association of Realtors reports existing-home sales for October on Monday. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September.\nOn Tuesday,IHS Markit releases both the manufacturing and services purchasing managers’ indexes for November. Expectations are for a 59.5 reading for the manufacturing PMI and 59 for the services PMI.\nOn Wednesday, the Federal Open Market Committee releases minutes from its early-November monetary-policy meeting. The U.S. Census Bureau also releases the durable-goods report for October, while the U.S. Bureau of Economic Analysis reports personal income and spending for October.\nU.S. bourses and fixed-income markets will be closed on Thursday for Thanksgiving. On Friday, the Nasdaq and New York Stock Exchange end trading at 1 p.m., while the bond market closes at 2 p.m.\nAgilent Technologies,Keysight Technologies,and Zoom Video Communications release quarterly results.\nThe National Association of Realtors reports existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 6.19 million homes sold, 100,000 fewer than in September. Existing-home sales hit their post-financial-crisis peak at 6.73 million last October and have fallen for much of this year, partly due to supply constraints, especially at the lower-price end of the housing market.\nAnalog Devices,Autodesk, Best Buy, Burlington Stores, Dell Technologies, Dick’s Sporting Goods, Dollar Tree, Gap,HPInc.,J.M. Smucker, Jacobs Engineering Group,Medtronic,and VMware report earnings.\nIHS Markit releases both the Manufacturing and Services Purchasing Managers’ indexes for November. Expectations are for a 59.5 reading for the Manufacturing PMI and 59 for the Services PMI. Both figures are slightly more than the October data. Both indexes are off their peaks from earlier this year, but higher than their levels from a year ago.\nThe BEA reports its second estimate of third-quarter gross domestic product. Economists forecast a 2.2% annualized rate of growth, higher than the BEA’s preliminary estimate of 2% from late October.\nDeere reports fiscal fourth-quarter 2021 results.\nThe Federal Open Market Committee releases minutes from its early-November monetary-policy meeting.\nThe Census Bureau releases the durable-goods report for October. Economists forecast a 0.2% month-over-month increase in new orders for manufactured durable goods, to $262 billion. Excluding transportation, new orders are seen rising 0.5%, matching the September gain.\nThe BEA reports personal income and spending for October. The consensus call is for a 0.4% monthly increase in income after a 1% decline in September. Personal spending is expected to rise 1%, month over month, a faster clip than September’s 0.6% gain.\nU.S. bourses and fixed-income markets are closed in observance of Thanksgiving.\nIt’s Black Friday, one of the busiest shopping days of the year and the traditional kickoff to the holiday shopping season. The National Retail Federation estimates that a record $851 billion will be spent by U.S. consumers this November and December, a 9.5% increase from last year. U.S. exchanges have a shortened trading session on the day after Thanksgiving. The Nasdaq and New York Stock Exchange end trading at 1 p.m., and the bond market closes at 2 p.m.","news_type":1,"symbols_score_info":{"DE":0.9,".DJI":0.9,".SPX":0.9,"BBY":0.9,"DELL":0.9,".IXIC":0.9,"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":2915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866968162,"gmtCreate":1632724497256,"gmtModify":1632798285897,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866968162","repostId":"2170488786","repostType":4,"repost":{"id":"2170488786","kind":"news","pubTimestamp":1632685409,"share":"https://www.laohu8.com/m/news/2170488786?lang=zh_CN&edition=full","pubTime":"2021-09-27 03:43","market":"other","language":"en","title":"Debt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2170488786","media":"Yahoo Finance","summary":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race t","content":"<p><div> Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p><p><blockquote><div>投资者本周将密切关注华盛顿特区的事态发展，因为议员们竞相通过立法，以避免政府在本月底关闭，并就提高...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Debt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDebt ceiling debates in Congress, consumer confidence: What to know this week<blockquote>国会债务上限辩论、消费者信心：本周需要了解什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-09-27 03:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p><p><blockquote><div>投资者本周将密切关注华盛顿特区的事态发展，因为议员们竞相通过立法，以避免政府在本月底关闭，并就提高...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">Yahoo Finance</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7e749e88d2580d292ffc6ae18d03b65","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust"},"source_url":"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170488786","content_text":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.\nThe Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.\nThe latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.\nSenate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.\n\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.\nDemocratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.\n\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.\nFederal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.\n\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no one should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"\nA dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS\nAmid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.\nThough leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.\n\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"\n\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.\nInvestors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.\nMany strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.\n\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"\n\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"\nHistorical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.\n\"In the 14 government shutdowns since 1980, the S&P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.\n\"One notable exception was the most recent federal shutdown in December 2018, when the S&P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"\nKostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.\nConsumer confidence\nOn the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.\nThe Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.\nSpecifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.\n\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"\nAt the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"\nThe latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.\nEconomic calendar\n\nMonday: Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)\nTuesday: Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)\nWednesday: MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)\nThursday: Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)\nFriday: Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); Markit manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)\n\nEarnings calendar\n\nMonday: Aurora Cannabis (ACB) after market close\nTuesday: Micron Technology (MU) after market close.\nWednesday: No notable reports scheduled for release\nThursday: CarMax (KMX), Bed Bath & Beyond (BBBY) before market open; Jefferies (JEF) after market close\nFriday: No notable reports scheduled for releas","news_type":1,"symbols_score_info":{"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":859,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":897625261,"gmtCreate":1628914433553,"gmtModify":1631886649613,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/897625261","repostId":"1149823415","repostType":4,"repost":{"id":"1149823415","kind":"news","pubTimestamp":1628909753,"share":"https://www.laohu8.com/m/news/1149823415?lang=zh_CN&edition=full","pubTime":"2021-08-14 10:55","market":"us","language":"en","title":"Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149823415","media":"seekingalpha","summary":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"d","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</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>Where Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</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\">\nWhere Will Virgin Galactic Stock Be In 10 Years?<blockquote>10年后维珍银河的股票会在哪里？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-14 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Virgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.</li>  <li>However, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.</li>  <li>We would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.</li>  <li>Lastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00922c9874a28954c08c613b8dbf378b\" tg-width=\"768\" tg-height=\"493\" width=\"100%\" height=\"auto\"><span>Nastco/iStock via Getty Images</span></p><p><blockquote><ul><li>由于市场对影响其私人商业收入服务推出的“延迟”感到失望，维珍银河财报后下跌超过30%。</li><li>然而，我们认为该公司的“延迟”对于纠正供应限制并满足该公司正在经历的巨大需求是必要的。</li><li>我们还将详细讨论公司的长期机遇和威胁，以及投资者未来需要监控的内容。</li><li>最后，我们为正在考虑增加维珍银河投资的长期投资者提出了我们的估值论点。</li></ul><p class=\"t-img-caption\"><span>Nastco/iStock来自Getty Images</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Back in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.</p><p><blockquote>早在5月份，当我们发表关于维珍银河(SPCE)的上一篇文章（链接到本文所附文章）时，我们明确强调，我们认为华尔街的共识对维珍银河的收入预测过于乐观，因为我们认为这些预测夸大了市场根据我们咨询多个来源的研究，未来10年亚轨道太空旅游的机会在很大程度上，我们提交了修订后的预测。</blockquote></p><p> Since then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from&nbsp;late Q3'CY22.</p><p><blockquote>此后，华尔街日报下调了近期预测，因为该公司最近表示，他们预计仅从2022年第三季度末开始提供商业服务。</blockquote></p><p> This article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.</p><p><blockquote>本文将讨论导致维珍银河“延迟”发射的情况、长期机遇以及维珍在亚轨道太空旅游领域寻求领导地位所面临的竞争威胁。</blockquote></p><p> Lastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.</p><p><blockquote>最后，我们将为目前考虑增加该股投资的长期投资者提出我们的估值论点。</blockquote></p><p> <b>Revisions to Virgin Galactic's Mean Consensus Estimates</b></p><p><blockquote><b>对维珍银河平均共识估计的修正</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e15e65a740bf4a03405cd6f31e82bfc\" tg-width=\"640\" tg-height=\"396\" width=\"100%\" height=\"auto\"><span>May's consensus revenue estimates &amp; Aug's consensus revenue estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>5月份的普遍收入估计和8月份的普遍收入估计。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/149d99203d29b3a3e785096ccc509c57\" tg-width=\"600\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Scale of revised estimates (Between May and Aug estimates). Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>修订估计数的规模（5月至8月估计数之间）。数据来源：标普资本智商</span></p></blockquote></p><p> Investors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.</p><p><blockquote>投资者应该能够清楚地收集到，近期共识预期较5月份影响21年至25年的预测有所下调。然而，我们认为投资者需要注意的是，华尔街从CY26大幅上调了其预期，以反映SPCE在最近的盈利看涨期权中强调的强劲需求，我们认为这表明了该公司对强劲收入跑道的信心长期，我们将在后续章节中详细讨论。</blockquote></p><p> <b>Private Commercial Full Revenue Service is Expected from Q3'CY22</b></p><p><blockquote><b>私人商业全收入服务预计从2022年第三季度开始</b></blockquote></p><p> SPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.</p><p><blockquote>自8月5日发布财报以来，SPCE的价值已下跌约33%，我们认为这主要是由于VSS Unity和VSS Unity拟议的关键增强功能导致其商业服务推出“延迟”而带来的近期阻力。母舰VMS Eve将显着增加飞行和维护之间的周转时间。</blockquote></p><p> As a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.</p><p><blockquote>由于Unity 23与意大利空军的创收飞行完成后将进行的增强，该公司预计仅从2022年第三季度末开始其私人商业全面收入服务，我们认为这可能会让投资者大吃一惊，因为虽然市场预计全面商业服务将于2022年开始，但他们预计不会晚于第三季度。</blockquote></p><p> However, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:</p><p><blockquote>然而，我们认为市场再次选择关注近期收入服务延迟带来的不确定性，而忽视了预计将显着改善VMS Eve周转时间的增强功能的重要性，以至于维珍银河强调：</blockquote></p><p>   These enhancements  <i>could potentially allow Eve to fly 100 flights between major maintenance inspections</i>. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.  In addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"</p><p><blockquote>这些增强功能<i>可能允许Eve在主要维护检查之间飞行100次航班</i>这比今天主要检查之间的10个航班间隔有所增加。在早期商业服务期间，当我们正在制造更多母舰时，这将是一个非常重要的成功因素。此外，该公司还强调，随着这些改进，该公司还“目标是减少Unity航班之间的周转航班，时间从VSS Unity的7至8周。”</blockquote></p><p></p><p> The Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"</p><p><blockquote>华尔街和市场当然对这一消息感到失望，因为分析师下调了近期预测并下调了评级，摩根士丹利还强调：“在这个繁重的维护期间，维珍银河在2022年夏季之前都无法进行任何太空飞行。”</blockquote></p><p> Sure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:</p><p><blockquote>当然，没有航班。我们当然不担心，因为该公司重申了这些增强功能的重要性：</blockquote></p><p>   These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and  <i>that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today</i>.\"  If investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:</p><p><blockquote>这些都是对Eve相当稳健的修改。但是，我们为Eve的增强期增加范围和时间的原因是，在此增强期之后，我们将从Eve获得的飞行率是我们计划建立的。在主要检查和我们现在所做的之间，这几乎是10倍。这将使我们能够更频繁地飞行Eve，并且<i>这对我们未来的第一批宇航员以及我们将从今天开始报名的人来说非常重要</i>.“如果投资者能够清楚地收集该公司在上述句子中使用的语言，那么该公司显然这样做是因为他们预计对其太空飞行服务的需求如此强劲，我们认为这可能超出了该公司最初的计划。因此，虽然最近与理查德·布兰森爵士举行的发布会在很大程度上被视为一次重大的公关妙招，但它无疑让该公司能够衡量感兴趣的客户的反应，并且该公司明确表示，他们看到了如此强劲的需求，因此需要开放正如首席执行官迈克尔·科尔格拉齐尔(Michael Colglazier)所阐明的那样，尽快列出优先事项清单：</blockquote></p><p>   Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.  We are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).</p><p><blockquote>利用我们在网站上看到的巨大需求，我很高兴地宣布，我们将很快为希望成为下一个的未来太空旅行者开放一个优先名单。在我们的太空人转换过程结束后，我们将首先向这个列表提供任何可用的库存。该名单的注册将很快在我们的网站上提供...我们对整个潜在市场充满信心，对[理查德·布兰森爵士]Unity 22的反应就表明了这一点。所以我们不会全部吸收，但我们确实认为我们可以在这里向前迈出一大步。我们不确定市场和其他投资者的想法。尽管如此，该公司仍需要找到一种方法来应对供应明显严重受限的情况下的需求。他们在短期内会做的下一件最好的事情是对VMS Eve和VSS Unity进行必要的修改，以确保这些高价值的潜在客户不会去敲杰夫·贝索斯蓝色起源(BORGN)的门。</blockquote></p><p> <b>Are There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?</b></p><p><blockquote><b>真的有那么多迫不及待想上VSS Unity的客户吗？</b></blockquote></p><p> Yes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket&nbsp;holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"</p><p><blockquote>是的，想到该公司期待这么多迫不及待地加入的客户，真是令人难以置信。风险投资公司Hemisphere Ventures的管理合伙人丽莎·里奇(Lisa Rich)明确表示：“……这些年来，我遇到了很多维珍（银河）的持票人。顺便说一句，他们每个人都告诉我，由于他们多年来分享的经历，他们花在等待上的25万美元已经收回了10倍。”</blockquote></p><p> Investors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"</p><p><blockquote>投资者应该清楚地了解，多年来，由600名致力于维珍银河飞行服务的未来宇航员组成的社区形成了一个紧密团结的团体，正如该公司所强调的那样：“我认为在现有的未来宇航员之外可能不为人所知的一件事是维珍银河的秘密武器之一，那就是我们的宇航员办公室。这是一群人，他们将这600人聚集成了一个真正的社区。”</blockquote></p><p> The company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"</p><p><blockquote>该公司强调，这些客户真正重视实现飞行体验的旅程，因为这些客户认为这是一次“人生过渡之旅”。他们看到了维珍银河所做的事情的巨大价值，以至于该公司强调，他们的客户认为加入该公司汇集的社区是“首要考虑的[优先事项]并且非常强大”。</blockquote></p><p> Importantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.</p><p><blockquote>重要的是，该公司还强调，他们已经向通过该公司“一小步”计划注册的1000多名“宇航员”社区开放了门票销售，每个座位的价格从45万美元起，远高于最初600名未来宇航员注册的每个座位20万至25万美元。</blockquote></p><p></p><p> Virgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience<b><i>.</i></b>And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"</p><p><blockquote>维珍银河认为，这些未来的宇航员将成为公司的“销售大使”，因为他们拥有该公司煞费苦心建立的强大而紧密的宇航员社区的经验：“……所以我认为你可以从几个方面来思考终身价值。其中之一是当人们从未来的宇航员毕业生进入宇航员社区时，我认为他们会回来，我认为人们分享这些经验是非常自然的<b><i>.</i></b>我认为他们分享这段经历不仅会让人们说这是多么美妙，还会给人类航天的概念带来常态。因此，当我们将这群人引入时，他们的终身价值是全面的需求，并在他们走出去分享他们所做的事情时继续增加总的潜在市场。”</blockquote></p><p> <b>Strong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage</b></p><p><blockquote><b>强劲的需求证明快速扩大规模以实现强劲的运营杠杆是合理的</b></blockquote></p><p> Astute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.</p><p><blockquote>精明的投资者会清楚地认识到，如果该公司仅依靠VSS Unity或VSS Imagine机队来主导亚轨道太空旅游市场，这在很大程度上是不够的。</blockquote></p><p> Based on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.</p><p><blockquote>根据该公司的指导和华尔街的估计，如果不对VMS Eve进行修改，该公司最初的600名未来宇航员社区的工作至少需要几年时间。</blockquote></p><p> The initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.</p><p><blockquote>2022年的初始节奏（修改前）是最多10个收入航班，总共60名乘客。到2023年，该公司每年最多只能飞行24至36次航班，这将允许他们最多飞行144至216名宇航员。因此，到2025年，维珍银河可能至少还需要2年时间才能开始处理1000名宇航员社区的订单，我们认为到那时，至少其中一些人会去蓝色起源。因此，最初的节奏真的不起作用，特别是该公司准备很快为Unity 22公关活动产生的兴趣制定优先列表，他们需要快速完成1600名未来宇航员的工作，这在短期内将通过Eve的修改来解决，因为它允许SPCE在主要检查之间多飞行10倍。</blockquote></p><p> However, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.</p><p><blockquote>然而，该公司仍然认为这仍然不足以满足他们所经历的需求水平。因此，他们宣布将制造下一代Delta级车辆，“能够每隔一周启动一次”。随着时间的推移，此类船舶预计将构成该公司未来运力的大部分。</blockquote></p><p> Part of the reason that the company needed to raise the&nbsp;$500M equity&nbsp;offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.</p><p><blockquote>该公司最近需要筹集5亿美元股票发行的部分原因是，他们已准备好开始开发和制造Delta级车辆，这将非常有助于满足其长期产能和节奏，VSS Unity和VSS想象永远无法充分满足。</blockquote></p><p> Crucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"</p><p><blockquote>至关重要的是，该公司强调，通过提高达美级的产量和产能，他们将能够实现显著的运营杠杆，正如维珍银河强调的那样：“...这就是为什么我们如此专注于用下一代母舰获得达美级。这是我们真正获得效率的地方。这是我们获得规模的地方。这是你真正看到流通的地方，因为我们将有一个固定的成本基础，便于我们沟通，也便于我们在未来为效率做出贡献。”</blockquote></p><p> <b>Competing Against Blue Origin</b></p><p><blockquote><b>与蓝色起源竞争</b></blockquote></p><p> We think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.</p><p><blockquote>我们认为运营杠杆将成为这里的游戏名称，维珍银河清楚地认识到，对于该公司来说，以其需求驱动因素所证明的足够规模运营以与蓝色起源进行强有力的竞争至关重要。</blockquote></p><p> While we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture&nbsp;and the technology we have chosen is complete overkill for a suborbital tourism mission.”</p><p><blockquote>虽然我们不认为蓝色起源的主要游戏是亚轨道太空旅游，但正如杰夫·贝索斯之前也强调的那样：“我们选择的架构和技术对于亚轨道旅游任务来说完全是矫枉过正。”</blockquote></p><p> We think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"</p><p><blockquote>我们认为蓝色起源的主要市场肯定超出了亚轨道太空旅游，摩根士丹利强调，“贝佐斯先生的公司正在太空市场寻求业务，假设技术快速发展，到2040年，太空市场的规模将扩大两倍，年销售额将超过1万亿美元。实现例行登月、小行星采矿和太空旅游。”</blockquote></p><p> Therefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.</p><p><blockquote>因此，虽然蓝色起源专注于建立其太空殖民地的长期愿景，但我们认为他们肯定能够快速提高产量并获得显着的运营杠杆。关键是这些优势如何在短期内转化为其亚轨道太空旅游领域，这将是决定维珍银河领导地位的关键。</blockquote></p><p></p><p> One thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.</p><p><blockquote>有一件事是肯定的。两家公司预计，随着生产规模的扩大和技术的改进，亚轨道太空旅游门票的价格将随着时间的推移大幅下降。因此，维珍银河在这个市场中的领导地位和生存的关键是尽快获得运营杠杆以建立这些优势，而蓝色起源则忙于其整个领域的各种项目。</blockquote></p><p> Virgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.</p><p><blockquote>维珍银河希望让亚轨道太空旅游变得更加容易，而实现这一目标的关键是通过提高产量实现的运营杠杆来降低价格。因此，我们认为该公司的达美级计划对于维珍银河对抗蓝色起源的领导地位至关重要，并强烈鼓励投资者密切关注这些计划。</blockquote></p><p> <b>Free Cash Flow Forecast &amp; Valuations</b></p><p><blockquote><b>自由现金流预测和估值</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48be5e8da375fdc72591e31b96a223f4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>EBITDA margin forecast &amp; CapEx margin forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EBITDA利润率预测和资本支出利润率预测。数据来源：标普资本智商</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57509b52b1c0ac46a44e7a0dd619bd97\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"><span>EV / Fwd EBITDA trend. Data Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd EBITDA趋势。数据来源：标普资本智商</span></p></blockquote></p><p> Despite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.</p><p><blockquote>尽管全面收入服务的推出推迟到22年第三季度，但华尔街预计该公司将从2024财年末开始实现自由现金流盈利。我们认为这很重要，因为它展示了公司业务在这个市场的长期现金流潜力，目前只有BORGN和SPCE是明显的领导者。</blockquote></p><p> However, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.</p><p><blockquote>然而，到2030年底，估值看起来仍然昂贵，为18.5倍，比航空航天和国防同行13.61倍的平均水平高出36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1084f3186f9732fad8d28b824c65de2a\" tg-width=\"640\" tg-height=\"472\" width=\"100%\" height=\"auto\"><span>Street's mean price target. Source: TIKR</span></p><p><blockquote><p class=\"t-img-caption\"><span>Street的平均目标价。来源：TIKR</span></p></blockquote></p><p> The Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.</p><p><blockquote>华尔街也不太乐观，平均目标价为35.55美元，仅比上一收盘价高出13.5%，因为分析师关注SPCE将其收入服务转移到2022年第三季度的近期“阻力”，我们认为这对其长期竞争优势非常重要。</blockquote></p><p> While we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.</p><p><blockquote>虽然我们对该公司的长期前景以及将亚轨道太空旅游带给世界的雄心感到非常兴奋，但我们对维珍银河看似昂贵的估值并不那么确定。</blockquote></p><p> <b>SPCE Stock Price Action and Trend Analysis</b></p><p><blockquote><b>SPCE股价走势及趋势分析</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f872b3e8670eac6d5ca4d8afce15200\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> While we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.</p><p><blockquote>虽然鉴于SPCE的估值昂贵，我们认为SPCE不适合长期投资者，但我们认为头寸交易者仍可能发现该股潜伏的机会。</blockquote></p><p> SPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.</p><p><blockquote>SPCE在50周移动平均线动态支撑位上受到强有力的支撑，该支撑位自2020年以来一直保持强劲，包括最近5月份出现的下行错误突破（熊市陷阱）。因此，我们希望，一旦价格走势在未来几周内自行解决，热衷于交易该股票的头寸交易者可能会找到机会。</blockquote></p><p> In summary, we assign a neutral rating to SPCE for long-term investors.</p><p><blockquote>综上所述，我们为长期投资者给予SPCE中性评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4449270-virgin-galactic-stock-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149823415","content_text":"Summary\n\nVirgin Galactic fell more than 30% post-earnings as the market was disappointed with the \"delay\" affecting the launch of its private commercial revenue service.\nHowever, we think the company's \"delay\" is necessary for it to rectify its supply constraints and meet the huge demand that the company is experiencing.\nWe would also discuss in detail the company's long-term opportunities and threats, and what investors need to monitor moving forward.\nLastly, we present our valuation arguments for long-term investors who are considering adding exposure to Virgin Galactic.\n\nNastco/iStock via Getty Images\nInvestment Thesis\nBack in May, when we published our previous article (link to article appendedhere) on Virgin Galactic (SPCE), we clearly highlighted that we think the Street's consensus has been too optimistic about Virgin Galactic's revenue estimates as we thought the projections overstated the market opportunity for suborbital space tourism over the next 10 years to a large extent, based on our research that consulted multiple sources, and we submitted a revised projection.\nSince then, the Street has revised its near-term projections downwards as the company recently indicated that they are expecting to commence commercial service only from late Q3'CY22.\nThis article will discuss the circumstances leading to Virgin Galactic's \"delayed\" launch, the long-term opportunities, and the competitive threat facing Virgin's leadership quest in suborbital space tourism.\nLastly, we would present our valuation argument for long-term investors considering adding exposure to the stock right now.\nRevisions to Virgin Galactic's Mean Consensus Estimates\nMay's consensus revenue estimates & Aug's consensus revenue estimates. Data source: S&P Capital IQ\nScale of revised estimates (Between May and Aug estimates). Data source: S&P Capital IQ\nInvestors should be able to glean clearly that near-term consensus estimates were revised downwards from May's projections that affected CY21 to CY25. However, we think what's important for investors to note is that the Street revised its estimates meaningfully upwards from CY26 to reflect the strong demand that SPCE highlighted during its recent earnings call, which we think demonstrates the company's confidence in a strong revenue runway for the long term, which we would discuss in detail in the subsequent sections.\nPrivate Commercial Full Revenue Service is Expected from Q3'CY22\nSPCE has since lost about 33% of its value since its earnings release on Aug 5, which we think is largely attributed to the near term headwinds resulting from its \"delay\" on commercial service launch as a result of proposed critical enhancements to VSS Unity and the mothership VMS Eve to increase their turnaround time between flights and maintenance significantly.\nAs a result of the enhancements that would take place after the completion of Unity 23 revenue-generating flight with the Italian Air Force, the company expects to commence its private commercial full revenue service only from late Q3'CY22, which we think may have taken investors aback as while the market expected full commercial service to begin in 2022, they did not expect it to be as late as Q3.\nHowever, we think the market has once again chosen to focus on the uncertainty resulting from the near-term revenue service delay and ignore the importance of the enhancements that are expected to improve VMS Eve's turnaround time so significantly that Virgin Galactic emphasized:\n\n These enhancements\n could potentially allow Eve to fly 100 flights between major maintenance inspections. This is up from the current interval of 10 flights between major inspections today. This will be an incredibly important success factor during the early commercial service period while we are in process of manufacturing additional motherships.\n\nIn addition, the company also highlighted that with the enhancements, the company is also \"targeting a reduced turnaround flight between Unity flights of 4 to 5 weeks, and that's down from what has at best, been 7 to 8 weeks for VSS Unity.\"\nThe Street and the market were certainly disappointed with the announcement, as analysts cut near-term forecasts and downgraded ratings, and Morgan Stanley also emphasized: \"During this heavy maintenance period, Virgin Galactic will not be able to conduct any space flights until summer of 2022.\"\nSure, no flights. We are certainly not concerned, as the company reiterated the significance of these enhancements:\n\n These are reasonably robust modifications to Eve. But the reason we are taking the additional scope and the additional time for this enhancement period of Eve is because the flight rate that we will derive from Eve following this enhancement period is we plan to build that to effect. It's almost 10x greater between major inspections and what we've been doing now. That will give us an ability to fly Eve much more frequently, and\n that's really important to our initial group of future astronauts as well as the people that we're going to be signing up starting today.\"\n\nIf investors could clearly glean the language used by the company in the above sentence, the company is clearly doing it because they are expecting such a robust demand for its space flight services that we think may have exceeded what the company had initially planned for. So while the recent launch event with Sir Richard Branson was largely seen as a major PR coup, it certainly allowed the company to measure the response from interested customers, and the company has clearly indicated that they see such robust demand that they needed to open up a priority list as soon as possible as CEO Michael Colglazier articulated:\n\n Leveraging the substantial demand we have seen to our website, I am pleased to announce that we will soon open a priority list for future space travelers who wish to be next in line. We will reach out first to this list with any available inventory following the conclusion of our spacefarer conversion process. Registration for this list will soon be made available on our website...We have an enormous amount of confidence in the total addressable market that's been kind of shown from the response to [Sir Richard Branson's] Unity 22. So we won't be absorbing all of it, but we do think we can make a major step forward here.\n\nWe are not sure what the market and other investors think. Still, the company needs to find a way to cope with the demand from what's obviously a heavily supply-constrained situation. The next best thing they would do in the near term is to make the necessary modifications to VMS Eve and VSS Unity to ensure these highly valued potential customers don't go knocking on the door of Jeff Bezos's Blue Origin (BORGN).\nAre There Really So Many Customers Who Couldn't Wait to Get On Board VSS Unity?\nYes, it's pretty incredible to think that the company is expecting so many customers who couldn't wait to get on board. Lisa Rich, the Managing Partner at the venture capital firm Hemisphere Ventures, articulated: \"...I've met so many Virgin [Galactic] ticket holders over the years. And by the way, every one of them has told me that the $250,000 they've spent waiting has paid for itself 10 times over because of the experiences that they have shared over the years.\"\nInvestors should clearly understand that the community of 600 future astronauts that have committed to Virgin Galactic's flight services formed a tight-knit group over the years as the company emphasized: \"I think one thing that probably [is] not well known outside of the existing future astronaut is one of the secret weapons of Virgin Galactic is our astronaut office. This is a group of people who have brought together these 600 people into a true community.\"\nThe company emphasized that these customers really value the journey towards realizing the flight experience as these customers consider it a \"life-transitional journey.\" They see so much value in what Virgin Galactic is doing that the company emphasized that their customers consider joining the community that the company brought together is \"[a] top, top of mind [priority] and very powerful.\"\nImportantly, the company also highlighted that they have opened up ticket sales to their 1000-strong \"Spacefarer\" community who has signed up through the company's \"One Small Step\" program, with a price starting from $450K per seat, that's way higher than the $200K to $250K per seat that the initial 600 future astronauts signed up for.\nVirgin Galactic believes that these future astronauts are going to be the \"sales ambassadors\" for the company because of the experience of the strong and tight-knit astronaut community that the company has painstakingly built up: \"...And so I think you can think about lifetime value in several ways. One of them is as people move through being a future astronaut graduate into the astronaut community, I think they're going to come back, and I think it will just be very natural in how people will share the experience.And I think them sharing the experience will not only let people say how wonderful it was, but it will also bring normalcy to the concept of human spaceflight. So this group of people as we bring them in, the lifetime value is all-around demand and continuing to increase the total addressable market as they go out there and share what they've done.\"\nStrong Demand Justifies Rapid Scaling Up To Achieve Strong Operating Leverage\nAstute investors would clearly have recognized that if the company relied on just the fleet of VSS Unity or VSS Imagine to dominate the market for suborbital space tourism, it would have been largely insufficient.\nBased on the company's guidance and the Street's estimates, working through the company's initial community of 600 future astronauts would take a few years at least without the modifications to VMS Eve.\nThe initial cadence (before modifications) for 2022 is a maximum of 10 revenue flights comprising 60 passengers in total. Moving on to 2023, the company could also only fly a maximum of 24 to 36 flights annually, which would allow them to fly a maximum of 144 to 216 astronauts. Thus, it may be at least another 2 years until 2025 before Virgin Galactic could start to work through the order book from the 1000 Spacefarer community, and we think by then, at least some of them would have gone over to Blue Origin. Therefore, the initial cadence really doesn't work, especially with the company preparing to draw up its priority list soon for the interest generated from the Unity 22 PR campaign, and they need to work through the 1,600 future astronauts fast, which in the near term would be solved by Eve's modifications since it allows SPCE to fly 10x more in between major inspections.\nHowever, the company still thinks that would still be insufficient to cater to the level of demand that they have been experiencing. As a result, they announced that they would be building their next-gen Delta class vehicles \"that are capable of turning on a 1-week interval.\" This class of ships is expected to form the majority of the company's future capacity over time.\nPart of the reason that the company needed to raise the $500M equity offering recently is that they are ready to start developing and build the Delta class vehicles that would be highly instrumental towards meeting their long term capacity and cadence, that VSS Unity and VSS Imagine would never be able to meet sufficiently.\nCrucially, the company highlighted that by ramping production and capacity through the Delta class, they would be able to achieve significant operating leverage as Virgin Galactic emphasized: \"...And that's why we're so focused on getting the Delta class with next generation of mothership. That's where we really get efficiency. That's where we get scale. That's where you'll really see the flow-through come because we'll have a fixed cost basis that is easy for us to communicate and easy for us to contribute the trade for efficiency down the road.\"\nCompeting Against Blue Origin\nWe think operating leverage will be the name of the game here, and Virgin Galactic clearly recognizes that it would be vital for the company to operate at a sufficient scale justified by its demand drivers to compete strongly against Blue Origin.\nWhile we don't think Blue Origin's main game is in suborbital space tourism, as Jeff Bezos also highlighted previously that: \"The architecture and the technology we have chosen is complete overkill for a suborbital tourism mission.”\nWe think Blue Origin's main market certainly goes beyond suborbital space tourism that Morgan Stanley highlighted that \"Mr. Bezos’ company is seeking business in a space market that will triple in size to more than $1 trillion in annual sales by 2040, assuming rapid technological developments enable routine moon landings, asteroid mining and space tourism.\"\nTherefore, while Blue Origin focuses on building up its Space colonies' vision over the long term, we think they would most certainly be able to ramp their production quickly and gain significant operating leverage. The key is how those advantages translate to its suborbital space tourism segment in the near term would be key to determine Virgin Galactic's leadership.\nOne thing is for sure. Both companies expect the price for the suborbital space tourism tickets to come down substantially over time as production scales up and technologies improve. Thus, the key for Virgin Galactic's leadership and survival in this market is to gain operating leverage as quickly as possible to build up those advantages while Blue Origin has its plate full with its various projects across the entire spectrum.\nVirgin Galactic wants to make suborbital space tourism much more accessible, and the key to achieving that is to drive prices down through operating leverage achieved by ramping up production. As a result, we think the company's Delta class plans are highly pivotal to Virgin Galactic's leadership against Blue Origin and highly encourage investors to keep their eyes closely focused on these plans.\nFree Cash Flow Forecast & Valuations\nEBITDA margin forecast & CapEx margin forecast. Data source: S&P Capital IQ\nEV / Fwd EBITDA trend. Data Source: S&P Capital IQ\nDespite the delay in launching full revenue service to Q3'22, the Street's estimates expect the company to be FCF profitable from the end of FY24. We think that's important as it demonstrates the long-term cash flow potential for the company's business in this market, where only BORGN and SPCE are the clear leaders right now.\nHowever, the valuations still look expensive at 18.5x by the end of 2030, 36% above its aerospace and defense peers comp set mean of 13.61x.\nStreet's mean price target. Source: TIKR\nThe Street is also not too optimistic, as the mean target price of $35.55 is a mere 13.5% above the last closing price, as analysts focused on SPCE's near term \"headwind\" of moving its revenue service to Q3'CY22, which we think is highly important to its long term competitive advantage.\nWhile we are really excited about the company's long-term prospects, as well as its ambition to bring suborbital space tourism to the world, we are not so sure about Virgin Galactic's expensively-looking valuation.\nSPCE Stock Price Action and Trend Analysis\nSource: TradingView\nWhile we don't think SPCE would be a suitable stock for long-term investors given its expensive valuation, we think position traders may still find an opportunity lurking around the horizon with this stock.\nSPCE is strongly supported along its 50-week moving average dynamic support level that has held strongly since 2020, including the recent false break to the downside (bear trap) it saw in May. Therefore, position traders keen to trade this stock may find an opportunity once the price action resolves itself in the next couple of weeks, we hope.\nIn summary, we assign a neutral rating to SPCE for long-term investors.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":862738116,"gmtCreate":1632911812555,"gmtModify":1632911812714,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862738116","repostId":"1198528044","repostType":4,"repost":{"id":"1198528044","kind":"news","pubTimestamp":1632882697,"share":"https://www.laohu8.com/m/news/1198528044?lang=zh_CN&edition=full","pubTime":"2021-09-29 10:31","market":"us","language":"en","title":"Technically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198528044","media":"seekingalpha","summary":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protect","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>  <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>  <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li> </ul> Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p><p><blockquote><ul><li>鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</li><li>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</li><li>虽然在融化持续期间利用它是至关重要的，但不要过于自满“这次不同了”。</li></ul>是<i>“市场融化？”</i>这是我从我的同事那里收到的问题<i>少废话投资。</i>考虑到投资者认为的持续增长，这是一个很好的问题<i>“没有风险”</i>市场。</blockquote></p><p> Of course, we need a definition of precisely what constitutes a melt-up.</p><p><blockquote>当然，我们需要一个准确定义什么是融化。</blockquote></p><p>   <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>  <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>  <i>rather than by fundamental improvements in the economy.“</i>–  <i>Investopedia</i>  Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p><p><blockquote><i>他说：“熔断是指一项资产或资产类别的投资表现持续且往往出乎意料的改善，部分原因是</i><i><b>不想错过其上涨机会的投资者蜂拥而至，</b></i><i>而不是经济的根本改善。”</i>–<i>投资百科</i>目前，有足够的证据支持市场繁荣的观点。<b><i>如前所述：</i></b></blockquote></p><p>   <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>    <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>  <ul>  <li><b><i>High optimism</i></b></li>  <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>  <li><b><i>A rush of initial and secondary offerings</i></b></li>  <li><b><i>Risky stocks outperforming</i></b></li>  <li><b><i>Stretched valuations</i></b></li> </ul> <img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote><i>“在市场周期接近峰值时，投资者会被潜在的繁荣所席卷。这种繁荣滋生了“合理化”，即“这次不同了”。那么，你如何知道市场目前是繁荣的呢？通过情绪交易者：”</i><i>这种类型的市场活动表明市场已经回到了“热情”阶段。其特征在于：</i><ul><li><b><i>高度乐观</i></b></li><li><b><i>宽松信贷（太宽松，条款宽松）</i></b></li><li><b><i>首次和二次发行热潮</i></b></li><li><b><i>风险股跑赢大盘</i></b></li><li><b><i>估值过高</i></b></li></ul></blockquote></p><p> However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p><p><blockquote>然而，虽然人们会期望个人在这样的环境中表现出谨慎，但事实恰恰相反。鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</blockquote></p><p> <b>A Visualization Of A Market Melting-Up</b></p><p><blockquote><b>市场融化的可视化</b></blockquote></p><p> It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p><p><blockquote>想象某事通常比解释它更容易。<b>自1900年以来，只有两个市场时期符合熔化的条件：1920-1929年和1995-2000年。</b>下图显示了这两个时期的价格。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p><p><blockquote>然而，估值的大幅上涨也直观地体现了这种融化。这一点至关重要，因为盈利增长速度不足以支撑价格上涨。<b>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p><p><blockquote>我们可以将前两个时期与当前从2020年3月低点的上涨进行比较。我们再次看到非常相似的价格大幅上涨和估值飙升。正如预期的那样，投资者目前希望未来收益将大幅上涨，足以证明当前价格的合理性。然而，支付高价的理由是美联储持续的资产负债表扩张。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p><p><blockquote>下图显示，价格上涨和估值指标略有不同。它显示了当前与长期指数增长趋势的背离。毫不奇怪，在市场期间<i>“融化。”</i>与估值加速相匹配的增长趋势出现了快速背离。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p><p><blockquote>市场的问题<i>“融化”</i>不是融化本身，而是随之而来的一切。</blockquote></p><p> <b>Melting-Up Leads To Melting-Down</b></p><p><blockquote><b>熔化导致熔化</b></blockquote></p><p> A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p><p><blockquote>市场融化持续下去是令人兴奋的。在熔断期间，投资者开始合理化原因<i>“这次不一样。”</i>他们开始过度杠杆，试图利用价格的快速上涨，基本面让位于价格动能。</blockquote></p><p></p><p> Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p><p><blockquote>市场融化都是关于<i>“心理学。”</i><b>从历史上看，无论引发忽视风险的催化剂是什么，都很容易在价格和估值的相应飙升中看到。</b>下图显示了相对强度、偏差和估值的长期偏差。上一篇<i>“融化”</i>与目前的进展相比，时期应该很容易发现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p><p><blockquote>鉴于目前的延期仅与历史上少数罕见的时期相匹配，有几点应该是显而易见的。</blockquote></p><p> <ol>  <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>  <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>  <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>  <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>  <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li> </ol> It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p><p><blockquote><ol><li><b><i>融化的时间可能比逻辑预测的要长。</i></b></li><li><b><i>普遍的心理总是“这次不一样了”。</i></b></li><li><b><i>估值被驳回，以换取动量和前瞻性预期的衡量标准。</i></b></li><li><b><i>投资者为了参与一个看似“输不起”的市场，承担了过多的杠杆和风险。</i></b></li><li><b><i>最后，不可避免的是，“融化”以最糟糕的结果告终。</i></b></li></ol>必须认识到市场正处于<i>“融化，</i>“而且该事件的持续时间是未知的。因此，投资者需要一种策略来参与提前并减轻最终的损失<i>“熔化。”</i></blockquote></p><p> <b>Surviving The Melt-Up</b></p><p><blockquote><b>在融化中幸存下来</b></blockquote></p><p> <b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p><p><blockquote><b>如上所述，这些都不意味着下一个</b><b><i>“熊市”</i></b><b>正在潜伏。</b>鉴于市场融化是心理作用，它们可以持续更长时间，走得比逻辑预测的更远。需要什么“<i>结束“</i>融化是一种意想不到的外生事件，它将心理从看涨转变为看跌。这就是人们蜂拥退出的时候，价格会迅速下跌。</blockquote></p><p> As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p><p><blockquote>因此，投资者需要一套指导方针来参与市场上涨。但是，当然，困难的部分是在不可避免地发生调整时保持这些收益。</blockquote></p><p> As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p><p><blockquote>作为客户的投资组合经理，这正是我们必须采取的方法。因此，我提供了我们采用的流程的总体概述。</blockquote></p><p> <ol>  <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>  <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>  <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>  <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>  <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li> </ol> <b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p><p><blockquote><ol><li><i><b>收紧止损水平</b></i><i>每个头寸的当前支撑位。（当市场反转时提供可识别的退出点。）</i></li><li><i><b>对冲投资组合</b></i><i>（非相关资产、空头市场头寸、指数看跌期权）</i></li><li><i><b>获利了结</b></i><i>在已经成为大赢家的头寸中（重新平衡超买或扩展头寸以获取收益，但继续参与上涨。）</i></li><li><i><b>出售落后者</b></i><i>和失败者</i>.<i>（如果某些东西在市场融化时不起作用，那么在广泛下跌时很可能也不会起作用。最好尽早消除风险。）</i></li><li><i><b>筹集现金</b></i><i>并重新平衡投资组合以达到目标权重。（定期重新平衡风险可以在一定程度上减轻隐藏的风险。）</i></li></ol><b>注意，里面没有任何东西说，</b><b><i>“卖掉所有东西，去兑现。”</i></b></blockquote></p><p> There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p><p><blockquote>将会有一段时间来筹集大量现金。一个好的投资组合管理策略将自动确保<i>“止损”</i>当出售开始时，水平被触发，风险减少，现金水平上升。</blockquote></p><p> While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p><p><blockquote>虽然有必要在融化持续期间利用它，但不要过于自满<i>“这次不一样。”</i></blockquote></p><p> It likely isn’t.</p><p><blockquote>很可能不是。</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>Technically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</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\">\nTechnically Speaking: Is The Market \"Melting-Up?\"<blockquote>从技术上讲：市场正在“融化”吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-09-29 10:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>  <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>  <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li> </ul> Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p><p><blockquote><ul><li>鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</li><li>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</li><li>虽然在融化持续期间利用它是至关重要的，但不要过于自满“这次不同了”。</li></ul>是<i>“市场融化？”</i>这是我从我的同事那里收到的问题<i>少废话投资。</i>考虑到投资者认为的持续增长，这是一个很好的问题<i>“没有风险”</i>市场。</blockquote></p><p> Of course, we need a definition of precisely what constitutes a melt-up.</p><p><blockquote>当然，我们需要一个准确定义什么是融化。</blockquote></p><p>   <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>  <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>  <i>rather than by fundamental improvements in the economy.“</i>–  <i>Investopedia</i>  Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p><p><blockquote><i>他说：“熔断是指一项资产或资产类别的投资表现持续且往往出乎意料的改善，部分原因是</i><i><b>不想错过其上涨机会的投资者蜂拥而至，</b></i><i>而不是经济的根本改善。”</i>–<i>投资百科</i>目前，有足够的证据支持市场繁荣的观点。<b><i>如前所述：</i></b></blockquote></p><p>   <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>    <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>  <ul>  <li><b><i>High optimism</i></b></li>  <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>  <li><b><i>A rush of initial and secondary offerings</i></b></li>  <li><b><i>Risky stocks outperforming</i></b></li>  <li><b><i>Stretched valuations</i></b></li> </ul> <img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote><i>“在市场周期接近峰值时，投资者会被潜在的繁荣所席卷。这种繁荣滋生了“合理化”，即“这次不同了”。那么，你如何知道市场目前是繁荣的呢？通过情绪交易者：”</i><i>这种类型的市场活动表明市场已经回到了“热情”阶段。其特征在于：</i><ul><li><b><i>高度乐观</i></b></li><li><b><i>宽松信贷（太宽松，条款宽松）</i></b></li><li><b><i>首次和二次发行热潮</i></b></li><li><b><i>风险股跑赢大盘</i></b></li><li><b><i>估值过高</i></b></li></ul></blockquote></p><p> However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p><p><blockquote>然而，虽然人们会期望个人在这样的环境中表现出谨慎，但事实恰恰相反。鉴于美联储正在进行的资产负债表操作，投资者完全相信他们有能力免受经济衰退的影响。</blockquote></p><p> <b>A Visualization Of A Market Melting-Up</b></p><p><blockquote><b>市场融化的可视化</b></blockquote></p><p> It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p><p><blockquote>想象某事通常比解释它更容易。<b>自1900年以来，只有两个市场时期符合熔化的条件：1920-1929年和1995-2000年。</b>下图显示了这两个时期的价格。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p><p><blockquote>然而，估值的大幅上涨也直观地体现了这种融化。这一点至关重要，因为盈利增长速度不足以支撑价格上涨。<b>与往常一样，投资大众相信未来的收益将证明在融化期间价格上涨是合理的。从来都不是那样的。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p><p><blockquote>我们可以将前两个时期与当前从2020年3月低点的上涨进行比较。我们再次看到非常相似的价格大幅上涨和估值飙升。正如预期的那样，投资者目前希望未来收益将大幅上涨，足以证明当前价格的合理性。然而，支付高价的理由是美联储持续的资产负债表扩张。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p><p><blockquote>下图显示，价格上涨和估值指标略有不同。它显示了当前与长期指数增长趋势的背离。毫不奇怪，在市场期间<i>“融化。”</i>与估值加速相匹配的增长趋势出现了快速背离。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p><p><blockquote>市场的问题<i>“融化”</i>不是融化本身，而是随之而来的一切。</blockquote></p><p> <b>Melting-Up Leads To Melting-Down</b></p><p><blockquote><b>熔化导致熔化</b></blockquote></p><p> A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p><p><blockquote>市场融化持续下去是令人兴奋的。在熔断期间，投资者开始合理化原因<i>“这次不一样。”</i>他们开始过度杠杆，试图利用价格的快速上涨，基本面让位于价格动能。</blockquote></p><p></p><p> Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p><p><blockquote>市场融化都是关于<i>“心理学。”</i><b>从历史上看，无论引发忽视风险的催化剂是什么，都很容易在价格和估值的相应飙升中看到。</b>下图显示了相对强度、偏差和估值的长期偏差。上一篇<i>“融化”</i>与目前的进展相比，时期应该很容易发现。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p><p><blockquote>鉴于目前的延期仅与历史上少数罕见的时期相匹配，有几点应该是显而易见的。</blockquote></p><p> <ol>  <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>  <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>  <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>  <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>  <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li> </ol> It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p><p><blockquote><ol><li><b><i>融化的时间可能比逻辑预测的要长。</i></b></li><li><b><i>普遍的心理总是“这次不一样了”。</i></b></li><li><b><i>估值被驳回，以换取动量和前瞻性预期的衡量标准。</i></b></li><li><b><i>投资者为了参与一个看似“输不起”的市场，承担了过多的杠杆和风险。</i></b></li><li><b><i>最后，不可避免的是，“融化”以最糟糕的结果告终。</i></b></li></ol>必须认识到市场正处于<i>“融化，</i>“而且该事件的持续时间是未知的。因此，投资者需要一种策略来参与提前并减轻最终的损失<i>“熔化。”</i></blockquote></p><p> <b>Surviving The Melt-Up</b></p><p><blockquote><b>在融化中幸存下来</b></blockquote></p><p> <b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p><p><blockquote><b>如上所述，这些都不意味着下一个</b><b><i>“熊市”</i></b><b>正在潜伏。</b>鉴于市场融化是心理作用，它们可以持续更长时间，走得比逻辑预测的更远。需要什么“<i>结束“</i>融化是一种意想不到的外生事件，它将心理从看涨转变为看跌。这就是人们蜂拥退出的时候，价格会迅速下跌。</blockquote></p><p> As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p><p><blockquote>因此，投资者需要一套指导方针来参与市场上涨。但是，当然，困难的部分是在不可避免地发生调整时保持这些收益。</blockquote></p><p> As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p><p><blockquote>作为客户的投资组合经理，这正是我们必须采取的方法。因此，我提供了我们采用的流程的总体概述。</blockquote></p><p> <ol>  <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>  <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>  <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>  <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>  <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li> </ol> <b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p><p><blockquote><ol><li><i><b>收紧止损水平</b></i><i>每个头寸的当前支撑位。（当市场反转时提供可识别的退出点。）</i></li><li><i><b>对冲投资组合</b></i><i>（非相关资产、空头市场头寸、指数看跌期权）</i></li><li><i><b>获利了结</b></i><i>在已经成为大赢家的头寸中（重新平衡超买或扩展头寸以获取收益，但继续参与上涨。）</i></li><li><i><b>出售落后者</b></i><i>和失败者</i>.<i>（如果某些东西在市场融化时不起作用，那么在广泛下跌时很可能也不会起作用。最好尽早消除风险。）</i></li><li><i><b>筹集现金</b></i><i>并重新平衡投资组合以达到目标权重。（定期重新平衡风险可以在一定程度上减轻隐藏的风险。）</i></li></ol><b>注意，里面没有任何东西说，</b><b><i>“卖掉所有东西，去兑现。”</i></b></blockquote></p><p> There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p><p><blockquote>将会有一段时间来筹集大量现金。一个好的投资组合管理策略将自动确保<i>“止损”</i>当出售开始时，水平被触发，风险减少，现金水平上升。</blockquote></p><p> While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p><p><blockquote>虽然有必要在融化持续期间利用它，但不要过于自满<i>“这次不一样。”</i></blockquote></p><p> It likely isn’t.</p><p><blockquote>很可能不是。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198528044","content_text":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.\n\nIs the“market melting-up?”Such was the question I received from my colleague atCut The Crap Investing.It is an excellent question given the relentless increase in what investors believe is a“no risk”market.\nOf course, we need a definition of precisely what constitutes a melt-up.\n\n“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly\nby a stampede of investors who don’t want to miss out on its rise,\nrather than by fundamental improvements in the economy.“–\n Investopedia\n\nCurrently, there is sufficient evidence to support the idea of an exuberant market.As noted previously:\n\n“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”\n\n\n‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’\n\n\nHigh optimism\nEasy credit (too easy, with loose terms)\nA rush of initial and secondary offerings\nRisky stocks outperforming\nStretched valuations\n\n\nHowever, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nA Visualization Of A Market Melting-Up\nIt is often easier to visualize something rather than explain it.Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.The chart below shows both periods in terms of price.\n\nHowever, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\n\nWe can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.\n\nThe following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market“melt-up,”there is a rapid deviation from the growth trend matching the acceleration in valuations.\n\nThe problem with market“melt-ups”is not the melt-up itself but what always follows.\nMelting-Up Leads To Melting-Down\nA market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why“this time is different.”They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.\nMarket melt-ups are all about“psychology.”Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous‘melt-up”periods should be easy to spot when compared with the advance currently.\n\nGiven that current extensions match only a few rare periods in history, a couple of points should be readily apparent.\n\nMelt-ups can longer than logic would predict.\nThe prevailing psychology is always “this time is different.”\nValuations are dismissed in exchange for measures of momentum and forward expectations.\nInvestors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.\nLastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.\n\nIt is essential to recognize the markets are in a“melt-up,” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual“melting-down.”\nSurviving The Melt-Up\nAs noted, none of this means the next“bear market”is lurking.Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “end”a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.\nAs such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.\nAs portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.\n\nTighten up stop-loss levelsto current support levels for each position.(Provides identifiable exit points when the market reverses.)\nHedge portfoliosagainst major market declines.(Non-correlated assets, short-market positions, index put options)\nTake profitsin positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)\nSell laggardsand losers.(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)\nRaise cashand rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)\n\nNotice, nothing in there says,“sell everything and go to cash.”\nThere will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that“stop-loss”levels get triggered, exposure decreases, and cash levels rise when the selling begins.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent“this time is different.”\nIt likely isn’t.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":892405960,"gmtCreate":1628679778150,"gmtModify":1631886649652,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892405960","repostId":"2158285288","repostType":4,"isVote":1,"tweetType":1,"viewCount":538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891280510,"gmtCreate":1628391588330,"gmtModify":1631886649728,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/891280510","repostId":"1190347839","repostType":4,"isVote":1,"tweetType":1,"viewCount":680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146544262,"gmtCreate":1626093800156,"gmtModify":1633930232619,"author":{"id":"3586942609729444","authorId":"3586942609729444","name":"deathdevil","avatar":"https://static.tigerbbs.com/4be1d85c7649fbd2a69d825c1a37c903","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586942609729444","idStr":"3586942609729444"},"themes":[],"htmlText":"Nice sharing","listText":"Nice sharing","text":"Nice sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/146544262","repostId":"2150713535","repostType":4,"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}