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Zanetaghx
Zanetaghx
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2021-12-09
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Markets Overestimate a ‘Powell Pivot’ at Their Peril
This isn’t 2018, when inflation wasn’t even a worry. The central bank can’t afford to back off meani
Markets Overestimate a ‘Powell Pivot’ at Their Peril
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2021-11-11
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2021-11-11
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Here's How Much Ford And Amazon Made On Rivian's Stock Debut
Electric vehicle startup Rivian Automotive Inc’s blockbuster trading debut on Wednesday is estimated
Here's How Much Ford And Amazon Made On Rivian's Stock Debut
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2021-11-05
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JPMorgan to Lead Refinancing of Trump-Backed Vornado Skyscraper
$Vornado Realty Trust(VNO-N)$ turned to JPMorgan Chase & Co. and other banks to refinance debt on a
JPMorgan to Lead Refinancing of Trump-Backed Vornado Skyscraper
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2021-11-04
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He predicted Dow 36,000 in 1999. Now, it's finally here
London (CNN Business)Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that t
He predicted Dow 36,000 in 1999. Now, it's finally here
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2021-11-03
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Wall Street mints record highs, helped by strong earnings; Fed up next
Nov 2 (Reuters) - Wall Street's main indexes rose on Tuesday to record highs as a strong earnings se
Wall Street mints record highs, helped by strong earnings; Fed up next
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2021-08-29
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Morgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust
What Happened: Investment banking giant Morgan Stanley (NYSE: MS) is now the second-largest sharehol
Morgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust
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2021-08-28
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Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again
A stronger pace of growth in the future, thanks to solid demand, could send this tech stock's price much higher.
Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again
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2021-07-26
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2021-07-25
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Will Square Be Worth More Than PayPal by 2025?
Could the ambitious fintech company overtake the market leader?
Will Square Be Worth More Than PayPal by 2025?
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The central bank can’t afford to back off meani","content":"<p>This isn’t 2018, when inflation wasn’t even a worry. The central bank can’t afford to back off meaningful rate hikes this time.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fcb1016c7a196ebbdf10450feea307bb\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Jerome Powell will need to prioritize inflation over market performance. Photographer: Al Drago/Bloomberg</span></p>\n<p><b>More Haste, Less Speed?</b></p>\n<p>There’s onekey assumption undergirding markets at present. Many are resigned to the notion that the Federal Reserve will speed up the process of tapering off its QE asset purchases, so that it can start raising rates in the new year to deal with what it now acknowledges to be a growing problem with inflation. But, and this is the critical assumption, it won’t have to hike rates too much, and can finish the jobstill below 2%.</p>\n<p>On the Fed’s greater haste, the Bloomberg analysis of the probabilities implied by fed funds futures show how expectations have shifted in the last two months. As recently as November, there was seen to be minimal chance of a rate hike before June. Now, the chance of a hike at May’s meeting is well over one in two, and there is one-in-three chance of a rise as early as March:</p>\n<p><img src=\"https://static.tigerbbs.com/23a7d03bd32b12cc0bcc61236226c87d\" tg-width=\"969\" tg-height=\"544\" width=\"100%\" height=\"auto\"></p>\n<p>This helps explain the recent surge in shorter-term bond yields. But longer-term yields have fallen, significantly, despite ongoing elevated inflation forecasts. As this chart shows, 30-year Treasury yields have dropped more than 60 basis points since March, even as 30-year inflation forecasts remained unchanged:</p>\n<p><img src=\"https://static.tigerbbs.com/35494dfd7296b0323233cebdb55b7005\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>So the implicit expectation is that by moving more quickly and aggressively, the Fed will save itself from having to hike too far and make rates so expensive that they slow down the economy. Hence, many are now braced for a Fed announcement next week that it will accelerate its taper — probably even double the amount that it cuts back asset purchases each week, and be finished as early as March, rather than the more relaxed schedule taking until June.</p>\n<p>Something along these lines wouldn’t have too great a market impact. But how safe is the assumption that the Fed won’t be hiking long into the future? Alan Ruskin, foreign exchange strategist at Deutsche Bank AG, suggests it isn’t:</p>\n<blockquote>\n <i>The ‘risk neutral rate’ based off short-term rate expectations is currently below 1.5%, while the Eurodollar strip implies a peak funds rate a little above 1.5% through 2027. If this is correct, a sub 1.75% terminal funds rate, would almost certainly imply a peak real fed funds rate solidly in negative territory for the first time since WW2 . At its heart, there is an implied assumption that all the Fed has to do is tap the fed funds brake a mere 150bps, and the economy will slow sufficiently to break the inflation cycle.</i>\n</blockquote>\n<p>To put this in historical perspective, over the four decades since price rises peaked under Paul Volcker, inflation has quite often exceeded the fed funds rate (meaning that the real fed funds rate is negative), but all hiking cycles have ended with the fed funds rate above inflation:</p>\n<p><img src=\"https://static.tigerbbs.com/efd4426235eb60c638b4549c0ac15fc1\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>To look at it another way, Fed governors are much influenced by the “Taylor Rule” that posits a central bank’s target rate should be set according to the variation between inflation and its target, and the variation between growth in gross domestic product and its target. Since the summer of last year, the rule forecast for the fed funds rate, as calculated by Bloomberg, has shot up and now exceeds the actual rate by the most in four decades:</p>\n<p><img src=\"https://static.tigerbbs.com/86fc05498f043e1ece4db4c1cd756131\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Ruskin comments that this shows how far the current Fed approach has moved out of sync with prior policy and demonstrates “how much potential catch-up tightening is needed.” With inflation proving a tougher nut to crack than in decades, this further argues for pushing up real rates well into positive territory. Such an outcome is not reflected by present market calculations.</p>\n<p>Why so much optimism that the hiking will still stop so soon? The key piece of evidence is the “dot plot” in which the Fed publishes its governors’ predictions where rates will move in the future. The latest, published at the Federal Open Market Committee meeting in September, shows a consensus that the “longer-run” target rate (beyond 2024) should be 2.5%. The highest dots, placed by two FOMC members, call for a peak at 3%. Meanwhile, most of the FOMC don’t think rates will go beyond 1.8% by the end of 2024. That’s higher than the market implicitly expects, but gives some comfort that the Fed doesn’t think it will need to keep piling on pain until rates exceed inflation.</p>\n<p>But next week, we’ll hear from the FOMC again, and they’ll publish a last dot plot for the year. William Dudley, former governor of the New York Fed, writes for Bloomberg Opinion that the market could be in for a surprise. He says:</p>\n<blockquote>\n <i>For 2022, I expect a median forecast of 0.8%. This would signal three 0.25-percentage-point increases next year – not so many as to require a rate hike in March, but enough to be consistent with the faster taper and the unemployment and inflation outlook.</i>\n</blockquote>\n<blockquote>\n <i>For 2023, I expect officials to project four more rate hikes, taking the median target rate to 1.8% a year earlier than in the September projections. Such gradual, consistent tightening makes sense once the Fed gets started. But policymakers aren’t likely to anticipate moving more quickly as long as they project inflation to remain below 2.5%.</i>\n</blockquote>\n<blockquote>\n <i>For 2024, I expect the projected target rate to reach the 2.5% level judged as neutral. Anything less seems hard to justify, given that the economy will have been running beyond full employment and above the Fed’s 2% inflation target for several years.</i>\n</blockquote>\n<p>Dudley adds that the market estimate of a 1.5% highest rate is “well below what common sense would dictate.” His former colleagues on the FOMC are currently in “purdah,” avoiding public comment in the run-up to the meeting. It would be well to take this piece as a very serious attempt to force the market’s expectations upwards.</p>\n<p>Why might the Fed be able to be more lenient? Purely economic reasons could include a belief that inflationary pressure will soon cancel itself out, or that growth is sufficiently tenuous that the Fed will soon have to stay its hand. But this could be dangerous talk.</p>\n<p>The Fed is arguably a long way behind the curve. The U.S. recovery has hummed along far more impressively than in Europe or Asia, and yet the stimulus that the economy has received is far greater. If we take broad “M2” money as a yardstick for the amount of liquidity in the economy, it’s clear that the Fed has trodden on the accelerator for much longer than other central banks. In the following chart, total M2 is rebased to the beginning of 2020 for the U.S., Eurozone, U.K., Japan and China. The Fed has been more aggressive throughout. The European Central Bank, the People’s Bank of China and particularly the Bank of Japan have already started to rein in the money supply:</p>\n<p><img src=\"https://static.tigerbbs.com/fab2cecb19315eaa1306b09cffc62e93\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>This suggests that the Fed may well have to do far more work to slow things down than other central banks. It might also imply that the strength of the American recovery owes a lot to the Fed’s exceptional generosity.</p>\n<p>It’s interesting to follow this chart with the relative performance of stocks in the U.S., the rest of the developed markets, and emerging markets this year. All have rebounded nicely in the last few days in response to encouraging news about the omicron variant. But the gap between U.S. performance is dramatic and widening:</p>\n<p><img src=\"https://static.tigerbbs.com/0bccc807e4e8e57fd4cfef2816f3c897\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Michael Howell of CrossBorder Capital Ltd. in London suggests the Fed is “both ‘behind the curve’ on inflation and ‘behind the crowd’ in tightening policy,” and offers this dramatic illustration of just how much more aggressive it has been than in the 2008-10 period, when it first resorted to QE asset purchases. It uses CrossBorder’s index of total liquidity:</p>\n<p><img src=\"https://static.tigerbbs.com/b96dd44feef36c93f2a83bc78f4ba0d3\" tg-width=\"490\" tg-height=\"577\" width=\"100%\" height=\"auto\"></p>\n<p>Howell also offers this illustration of how asset purchases have moved over time. While the Fed has only just embarked on tapering, the other four big central banks have already cut back very significantly on asset purchases:</p>\n<p><img src=\"https://static.tigerbbs.com/88bf9990366e512a42c7f68e5e28192c\" tg-width=\"567\" tg-height=\"575\" width=\"100%\" height=\"auto\"></p>\n<p>All this suggests that the Fed will need to work very hard to rein in liquidity and calm inflation down once more. So why would markets expect Jerome Powell and his colleagues to relent early? The most popular case is that they will be forced into a “Powell pivot” and step back if they find themselves triggering a fall in the stock market, or a sharp economic downturn. This blueprint is taken from what happened in late 2018. But it ignores the fact that there is plenty of room for assets to fall from the current dizzy levels, and that inflation is now a very serious problem while it wasn’t even an issue three years ago. If the Fed loses its nerve, we could expect a fall for the dollar, which would worsen inflation. In very strong language, Howell argues the following:</p>\n<blockquote>\n <i>Some policy catch-up looks inevitable, but, like in the 1970s, we believe the current Fed lacks the</i>\n</blockquote>\n<blockquote>\n <i>necessary fortitude to tackle the inflation problem. Consequently, inflation will persist, with the US dollar potentially in the firing-line. We recognise that Chair Powell is probably not a Paul Volcker on</i>\n</blockquote>\n<blockquote>\n <i>inflation, but we also worry that President Biden is a Jimmy Carter for the dollar.</i>\n</blockquote>\n<p>That might be taking things a little too far. But the risks are serious enough, and plenty of people are warning about them. There is a very real chance that Powell will soon have to get everyone ready for fed funds rates to keep rising until they are comfortably above the rate of inflation. That will not be popular.</p>\n<p><b>How the Other Half Lives</b></p>\n<p>This conversation would look to some other central banks as though it comes from another planet. Inflationary pressures in a number of emerging markets — across the world — have already forced rates up. The chances are that the bankers will need to keep hiking until they’ve squeezed much of the life out of their economies.</p>\n<p>Two central banks raised their target rates Wednesday. Poland’s hiked by 50 basis points — and that still left its real target rate deeply negative:</p>\n<p><img src=\"https://static.tigerbbs.com/1d7eb25bb23d18e510b875750e9f26a8\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>In emerging markets, lacking the “exorbitant privilege” of the dollar, rates seldom drop below the level of inflation. It’s hard to see how Poland can avoid raising rates much further.</p>\n<p>Meanwhile, Brazil hiked by 150 basis points, still leaving its benchmark Selic rate about 150 basis points below the level of inflation. The Selic now stands at 9.25%. When inflation was last this high, in early 2016, the Selic was 14.25%. In 2002 and 2003, the previous occasion when inflation topped its current level, the Selic was eventually raised as high as 26.5%:</p>\n<p><img src=\"https://static.tigerbbs.com/03d9adfce04686cd9ff9b3d125ba2249\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Compounding the misery for the emerging world’s central bankers is that if the Fed does indeed tighten aggressively, expect further capital flight toward the dollar. These are serious “global imbalances,” to use a phrase in vogue before the Great Financial Crisis. It’s alarming to contemplate what the world will need to do to regain equilibrium.</p>\n<p><b>Survival Tips</b></p>\n<p>International travel grows ever more challenging. I’ve booked my flight to London, and my Covid test and my spot to self-isolate when I arrive. As there aren’t enough facilities in Heathrow, this already means that I need to take a trip in a taxi to a shopping mall to have my test before I start self-isolating, which seems a tad self-defeating.</p>\n<p>Now, it is revealed that the British will move to “Plan B” almost the moment I arrive, and ask people to work from home “if they can.” The proposed measures sound draconian until you look at the details. Masks will be mandatory in places of worship, theaters and cinemas, as well as shops and public transport, but not in pubs or restaurants or in places where it’s impractical to wear them (such as choir practice or a session at the gym). Which implies that if you want to sing in church you can take your mask off. However, in schools, masks are only “strongly advised.” The prime minister has expressed hope that Nativity plays go ahead as planned. Universities are to continue with in-person seminars and lectures next week.</p>\n<p>I have no intention of breaking any rules, and I can see the sense in heightening vigilance when Britain already has a nasty wave of infections and omicron appears to have established itself in England. But it’s hard to take these particular rules seriously. As far as I can see, they call for me to avoid the office “if I can,” but permit me to play a brutal game of unmasked rugby, enjoy a hearty sing-song with the lads, and then embark on a night-long unmasked pub crawl through the most louche and crowded drinking places that London has to offer. So maybe that’s what I should do? All tips on how to survive under Britain’s terrifying “Plan B” gratefully accepted.</p>","source":"lsy1584095487587","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>Markets Overestimate a ‘Powell Pivot’ at Their Peril</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: 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\">\nMarkets Overestimate a ‘Powell Pivot’ at Their Peril\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-09 16:08 GMT+8 <a href=https://www.bloomberg.com/opinion/articles/2021-12-09/markets-overestimate-a-powell-pivot-on-inflation-to-prop-up-growth-assets?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This isn’t 2018, when inflation wasn’t even a worry. The central bank can’t afford to back off meaningful rate hikes this time.\nJerome Powell will need to prioritize inflation over market performance....</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-12-09/markets-overestimate-a-powell-pivot-on-inflation-to-prop-up-growth-assets?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/opinion/articles/2021-12-09/markets-overestimate-a-powell-pivot-on-inflation-to-prop-up-growth-assets?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134664549","content_text":"This isn’t 2018, when inflation wasn’t even a worry. The central bank can’t afford to back off meaningful rate hikes this time.\nJerome Powell will need to prioritize inflation over market performance. Photographer: Al Drago/Bloomberg\nMore Haste, Less Speed?\nThere’s onekey assumption undergirding markets at present. Many are resigned to the notion that the Federal Reserve will speed up the process of tapering off its QE asset purchases, so that it can start raising rates in the new year to deal with what it now acknowledges to be a growing problem with inflation. But, and this is the critical assumption, it won’t have to hike rates too much, and can finish the jobstill below 2%.\nOn the Fed’s greater haste, the Bloomberg analysis of the probabilities implied by fed funds futures show how expectations have shifted in the last two months. As recently as November, there was seen to be minimal chance of a rate hike before June. Now, the chance of a hike at May’s meeting is well over one in two, and there is one-in-three chance of a rise as early as March:\n\nThis helps explain the recent surge in shorter-term bond yields. But longer-term yields have fallen, significantly, despite ongoing elevated inflation forecasts. As this chart shows, 30-year Treasury yields have dropped more than 60 basis points since March, even as 30-year inflation forecasts remained unchanged:\n\nSo the implicit expectation is that by moving more quickly and aggressively, the Fed will save itself from having to hike too far and make rates so expensive that they slow down the economy. Hence, many are now braced for a Fed announcement next week that it will accelerate its taper — probably even double the amount that it cuts back asset purchases each week, and be finished as early as March, rather than the more relaxed schedule taking until June.\nSomething along these lines wouldn’t have too great a market impact. But how safe is the assumption that the Fed won’t be hiking long into the future? Alan Ruskin, foreign exchange strategist at Deutsche Bank AG, suggests it isn’t:\n\nThe ‘risk neutral rate’ based off short-term rate expectations is currently below 1.5%, while the Eurodollar strip implies a peak funds rate a little above 1.5% through 2027. If this is correct, a sub 1.75% terminal funds rate, would almost certainly imply a peak real fed funds rate solidly in negative territory for the first time since WW2 . At its heart, there is an implied assumption that all the Fed has to do is tap the fed funds brake a mere 150bps, and the economy will slow sufficiently to break the inflation cycle.\n\nTo put this in historical perspective, over the four decades since price rises peaked under Paul Volcker, inflation has quite often exceeded the fed funds rate (meaning that the real fed funds rate is negative), but all hiking cycles have ended with the fed funds rate above inflation:\n\nTo look at it another way, Fed governors are much influenced by the “Taylor Rule” that posits a central bank’s target rate should be set according to the variation between inflation and its target, and the variation between growth in gross domestic product and its target. Since the summer of last year, the rule forecast for the fed funds rate, as calculated by Bloomberg, has shot up and now exceeds the actual rate by the most in four decades:\n\nRuskin comments that this shows how far the current Fed approach has moved out of sync with prior policy and demonstrates “how much potential catch-up tightening is needed.” With inflation proving a tougher nut to crack than in decades, this further argues for pushing up real rates well into positive territory. Such an outcome is not reflected by present market calculations.\nWhy so much optimism that the hiking will still stop so soon? The key piece of evidence is the “dot plot” in which the Fed publishes its governors’ predictions where rates will move in the future. The latest, published at the Federal Open Market Committee meeting in September, shows a consensus that the “longer-run” target rate (beyond 2024) should be 2.5%. The highest dots, placed by two FOMC members, call for a peak at 3%. Meanwhile, most of the FOMC don’t think rates will go beyond 1.8% by the end of 2024. That’s higher than the market implicitly expects, but gives some comfort that the Fed doesn’t think it will need to keep piling on pain until rates exceed inflation.\nBut next week, we’ll hear from the FOMC again, and they’ll publish a last dot plot for the year. William Dudley, former governor of the New York Fed, writes for Bloomberg Opinion that the market could be in for a surprise. He says:\n\nFor 2022, I expect a median forecast of 0.8%. This would signal three 0.25-percentage-point increases next year – not so many as to require a rate hike in March, but enough to be consistent with the faster taper and the unemployment and inflation outlook.\n\n\nFor 2023, I expect officials to project four more rate hikes, taking the median target rate to 1.8% a year earlier than in the September projections. Such gradual, consistent tightening makes sense once the Fed gets started. But policymakers aren’t likely to anticipate moving more quickly as long as they project inflation to remain below 2.5%.\n\n\nFor 2024, I expect the projected target rate to reach the 2.5% level judged as neutral. Anything less seems hard to justify, given that the economy will have been running beyond full employment and above the Fed’s 2% inflation target for several years.\n\nDudley adds that the market estimate of a 1.5% highest rate is “well below what common sense would dictate.” His former colleagues on the FOMC are currently in “purdah,” avoiding public comment in the run-up to the meeting. It would be well to take this piece as a very serious attempt to force the market’s expectations upwards.\nWhy might the Fed be able to be more lenient? Purely economic reasons could include a belief that inflationary pressure will soon cancel itself out, or that growth is sufficiently tenuous that the Fed will soon have to stay its hand. But this could be dangerous talk.\nThe Fed is arguably a long way behind the curve. The U.S. recovery has hummed along far more impressively than in Europe or Asia, and yet the stimulus that the economy has received is far greater. If we take broad “M2” money as a yardstick for the amount of liquidity in the economy, it’s clear that the Fed has trodden on the accelerator for much longer than other central banks. In the following chart, total M2 is rebased to the beginning of 2020 for the U.S., Eurozone, U.K., Japan and China. The Fed has been more aggressive throughout. The European Central Bank, the People’s Bank of China and particularly the Bank of Japan have already started to rein in the money supply:\n\nThis suggests that the Fed may well have to do far more work to slow things down than other central banks. It might also imply that the strength of the American recovery owes a lot to the Fed’s exceptional generosity.\nIt’s interesting to follow this chart with the relative performance of stocks in the U.S., the rest of the developed markets, and emerging markets this year. All have rebounded nicely in the last few days in response to encouraging news about the omicron variant. But the gap between U.S. performance is dramatic and widening:\n\nMichael Howell of CrossBorder Capital Ltd. in London suggests the Fed is “both ‘behind the curve’ on inflation and ‘behind the crowd’ in tightening policy,” and offers this dramatic illustration of just how much more aggressive it has been than in the 2008-10 period, when it first resorted to QE asset purchases. It uses CrossBorder’s index of total liquidity:\n\nHowell also offers this illustration of how asset purchases have moved over time. While the Fed has only just embarked on tapering, the other four big central banks have already cut back very significantly on asset purchases:\n\nAll this suggests that the Fed will need to work very hard to rein in liquidity and calm inflation down once more. So why would markets expect Jerome Powell and his colleagues to relent early? The most popular case is that they will be forced into a “Powell pivot” and step back if they find themselves triggering a fall in the stock market, or a sharp economic downturn. This blueprint is taken from what happened in late 2018. But it ignores the fact that there is plenty of room for assets to fall from the current dizzy levels, and that inflation is now a very serious problem while it wasn’t even an issue three years ago. If the Fed loses its nerve, we could expect a fall for the dollar, which would worsen inflation. In very strong language, Howell argues the following:\n\nSome policy catch-up looks inevitable, but, like in the 1970s, we believe the current Fed lacks the\n\n\nnecessary fortitude to tackle the inflation problem. Consequently, inflation will persist, with the US dollar potentially in the firing-line. We recognise that Chair Powell is probably not a Paul Volcker on\n\n\ninflation, but we also worry that President Biden is a Jimmy Carter for the dollar.\n\nThat might be taking things a little too far. But the risks are serious enough, and plenty of people are warning about them. There is a very real chance that Powell will soon have to get everyone ready for fed funds rates to keep rising until they are comfortably above the rate of inflation. That will not be popular.\nHow the Other Half Lives\nThis conversation would look to some other central banks as though it comes from another planet. Inflationary pressures in a number of emerging markets — across the world — have already forced rates up. The chances are that the bankers will need to keep hiking until they’ve squeezed much of the life out of their economies.\nTwo central banks raised their target rates Wednesday. Poland’s hiked by 50 basis points — and that still left its real target rate deeply negative:\n\nIn emerging markets, lacking the “exorbitant privilege” of the dollar, rates seldom drop below the level of inflation. It’s hard to see how Poland can avoid raising rates much further.\nMeanwhile, Brazil hiked by 150 basis points, still leaving its benchmark Selic rate about 150 basis points below the level of inflation. The Selic now stands at 9.25%. When inflation was last this high, in early 2016, the Selic was 14.25%. In 2002 and 2003, the previous occasion when inflation topped its current level, the Selic was eventually raised as high as 26.5%:\n\nCompounding the misery for the emerging world’s central bankers is that if the Fed does indeed tighten aggressively, expect further capital flight toward the dollar. These are serious “global imbalances,” to use a phrase in vogue before the Great Financial Crisis. It’s alarming to contemplate what the world will need to do to regain equilibrium.\nSurvival Tips\nInternational travel grows ever more challenging. I’ve booked my flight to London, and my Covid test and my spot to self-isolate when I arrive. As there aren’t enough facilities in Heathrow, this already means that I need to take a trip in a taxi to a shopping mall to have my test before I start self-isolating, which seems a tad self-defeating.\nNow, it is revealed that the British will move to “Plan B” almost the moment I arrive, and ask people to work from home “if they can.” The proposed measures sound draconian until you look at the details. Masks will be mandatory in places of worship, theaters and cinemas, as well as shops and public transport, but not in pubs or restaurants or in places where it’s impractical to wear them (such as choir practice or a session at the gym). Which implies that if you want to sing in church you can take your mask off. However, in schools, masks are only “strongly advised.” The prime minister has expressed hope that Nativity plays go ahead as planned. Universities are to continue with in-person seminars and lectures next week.\nI have no intention of breaking any rules, and I can see the sense in heightening vigilance when Britain already has a nasty wave of infections and omicron appears to have established itself in England. But it’s hard to take these particular rules seriously. As far as I can see, they call for me to avoid the office “if I can,” but permit me to play a brutal game of unmasked rugby, enjoy a hearty sing-song with the lads, and then embark on a night-long unmasked pub crawl through the most louche and crowded drinking places that London has to offer. So maybe that’s what I should do? All tips on how to survive under Britain’s terrifying “Plan B” gratefully accepted.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":870580153,"gmtCreate":1636633586070,"gmtModify":1636633586661,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"O","listText":"O","text":"O","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/870580153","repostId":"870884662","repostType":1,"isVote":1,"tweetType":1,"viewCount":1547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":870517564,"gmtCreate":1636633555565,"gmtModify":1636633561273,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like!","listText":"Please like!","text":"Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870517564","repostId":"1156105707","repostType":4,"repost":{"id":"1156105707","kind":"news","pubTimestamp":1636633193,"share":"https://ttm.financial/m/news/1156105707?lang=&edition=full","pubTime":"2021-11-11 20:19","market":"us","language":"en","title":"Here's How Much Ford And Amazon Made On Rivian's Stock Debut","url":"https://stock-news.laohu8.com/highlight/detail?id=1156105707","media":"Benzinga","summary":"Electric vehicle startup Rivian Automotive Inc’s blockbuster trading debut on Wednesday is estimated","content":"<p>Electric vehicle startup <b>Rivian Automotive Inc’s</b> blockbuster trading debut on Wednesday is estimated to have fetched early investors<b>Amazon.com Inc</b> and <b>Ford Motor Co</b> massive sums.</p>\n<p><b>What Happened:</b>Both Ford and Amazon invested in Rivian in 2019 and owned about 13% and 20% in the electric vehicle maker leading up to the initial public offering.</p>\n<p><b>Ford bought Rivian shares at an estimated $820 million in Rivian in equity and through convertible notes, according to the EV maker’s initial public offering. Amazon had invested $1.345 billion in Rivian.</b></p>\n<p><b>These investments were worth $10 billion and $16 billion, respectively, based on Rivian stock’s closing price on Wednesday.</b></p>\n<p><b>Sky-high Valuation:</b>Rivian has delivered 156 R1T vehicles and made about 180 units as of October. The RJ Scaringe-led Rivian is looking to ramp up production and reportedly aims to launch more electric models and build at least 1 million electric cars before 2030. In spite of being at a nascent stage in terms of production, Rivian valuation surpassed $100 billion on first day of trading.</p>\n<p>In comparison, legacy automaker Ford and <b>General Motors Co</b>— which are both spending billions of dollars to switch to a fuller electric vehicle portfolio — have lower valuations.</p>\n<p>GM ended the day with a $86 billion market cap, higher than Ford’s $77 billion.</p>\n<p>Rivian scored a compliment from Ford CEO Jim Farley on the blockbuster IPO.</p>\n<p>Rivian has a manufacturing plant in Normal, Illinois with an annual capacity of 150,000 electric vehicles. The <b>Tesla Inc</b> rival has revealed plans for a second U.S. plant in Texas where it could spend above $5 billion.</p>\n<p>Electric vehicle market leader Tesla has raced ahead with its popular Model 3 and Model Y vehicles and continues to ramp up capacity with giga factories across the world. The <b>Elon Musk</b>-led company recently hit a $1 trillion market cap after delivering record third quarter deliveries.</p>\n<p><b>Price Action:</b>Ford shares closed 3.78% lower at $19.36 a share and GM shares closed 1.11% higher at $59.27 a share on Wednesday. Amazon shares closed 2.63% lower at $3,482.05 a share and Tesla shares closed 4.34% higher at $1,067.95 a share.</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>Here's How Much Ford And Amazon Made On Rivian's Stock Debut</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: 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\">\nHere's How Much Ford And Amazon Made On Rivian's Stock Debut\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-11 20:19 GMT+8 <a href=https://www.benzinga.com/news/21/11/24035454/heres-how-much-ford-and-amazon-made-on-rivians-stock-debut><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Electric vehicle startup Rivian Automotive Inc’s blockbuster trading debut on Wednesday is estimated to have fetched early investorsAmazon.com Inc and Ford Motor Co massive sums.\nWhat Happened:Both ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/11/24035454/heres-how-much-ford-and-amazon-made-on-rivians-stock-debut\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","RIVN":"Rivian Automotive, Inc.","AMZN":"亚马逊"},"source_url":"https://www.benzinga.com/news/21/11/24035454/heres-how-much-ford-and-amazon-made-on-rivians-stock-debut","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156105707","content_text":"Electric vehicle startup Rivian Automotive Inc’s blockbuster trading debut on Wednesday is estimated to have fetched early investorsAmazon.com Inc and Ford Motor Co massive sums.\nWhat Happened:Both Ford and Amazon invested in Rivian in 2019 and owned about 13% and 20% in the electric vehicle maker leading up to the initial public offering.\nFord bought Rivian shares at an estimated $820 million in Rivian in equity and through convertible notes, according to the EV maker’s initial public offering. Amazon had invested $1.345 billion in Rivian.\nThese investments were worth $10 billion and $16 billion, respectively, based on Rivian stock’s closing price on Wednesday.\nSky-high Valuation:Rivian has delivered 156 R1T vehicles and made about 180 units as of October. The RJ Scaringe-led Rivian is looking to ramp up production and reportedly aims to launch more electric models and build at least 1 million electric cars before 2030. In spite of being at a nascent stage in terms of production, Rivian valuation surpassed $100 billion on first day of trading.\nIn comparison, legacy automaker Ford and General Motors Co— which are both spending billions of dollars to switch to a fuller electric vehicle portfolio — have lower valuations.\nGM ended the day with a $86 billion market cap, higher than Ford’s $77 billion.\nRivian scored a compliment from Ford CEO Jim Farley on the blockbuster IPO.\nRivian has a manufacturing plant in Normal, Illinois with an annual capacity of 150,000 electric vehicles. The Tesla Inc rival has revealed plans for a second U.S. plant in Texas where it could spend above $5 billion.\nElectric vehicle market leader Tesla has raced ahead with its popular Model 3 and Model Y vehicles and continues to ramp up capacity with giga factories across the world. The Elon Musk-led company recently hit a $1 trillion market cap after delivering record third quarter deliveries.\nPrice Action:Ford shares closed 3.78% lower at $19.36 a share and GM shares closed 1.11% higher at $59.27 a share on Wednesday. Amazon shares closed 2.63% lower at $3,482.05 a share and Tesla shares closed 4.34% higher at $1,067.95 a share.","news_type":1,"symbols_score_info":{"AMZN":0.9,"F":0.9,"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":2292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846576431,"gmtCreate":1636100889932,"gmtModify":1636101829001,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/846576431","repostId":"2181715940","repostType":4,"repost":{"id":"2181715940","kind":"news","pubTimestamp":1636100290,"share":"https://ttm.financial/m/news/2181715940?lang=&edition=full","pubTime":"2021-11-05 16:18","market":"us","language":"en","title":"JPMorgan to Lead Refinancing of Trump-Backed Vornado Skyscraper","url":"https://stock-news.laohu8.com/highlight/detail?id=2181715940","media":"Bloomberg","summary":"$Vornado Realty Trust(VNO-N)$ turned to JPMorgan Chase & Co. and other banks to refinance debt on a ","content":"<p>$Vornado Realty Trust(VNO-N)$ turned to JPMorgan Chase & Co. and other banks to refinance debt on a New York skyscraper it owns with former president Donald Trump.</p>\n<p>The $950 million loan is for 1290 Avenue of the Americas, a 43-story tower located in Midtown Manhattan, according to a report from Kroll Bond Rating Agency. The transaction will be parceled into a commercial mortgage bond that may be announced as soon as next week.</p>\n<p>This will be the second of two Trump-linked office towers that Vornado has refinanced. In April, JPMorgan arranged $1.2 billion of debt linked to 555 California Street in San Francisco. That transaction allowed Vornado and Trump to extract $617 million in equity, a welcome boost to Trump as he faced declining revenues from his real estate empire. This time, no equity is being taken out, the Kroll report showed.</p>\n<p>Trump owns 30% of the building, but has no role in property-related decisions, according to Kroll, which showed how revenues have climbed from the pandemic lows in 2019. As of November, the property was 98% leased to 25 tenants, Kroll said.</p>\n<p>Trump’s stake in the joint venture with Vornado is the most valuable part of his portfolio, worth about $685 million of his $2.5 billion fortune, according to the Bloomberg Billionaires Index.</p>\n<p>Despite shrinking demand for office space, lower rents and uncertainty about how much telecommuting will occur post-pandemic, investors have clamored for securitized bonds that offer a little more yield than other asset-backed debt and corporate securities.</p>","source":"yahoofinance","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>JPMorgan to Lead Refinancing of Trump-Backed Vornado Skyscraper</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: 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\">\nJPMorgan to Lead Refinancing of Trump-Backed Vornado Skyscraper\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-05 16:18 GMT+8 <a href=https://finance.yahoo.com/news/jpmorgan-lead-refinancing-trump-backed-225311438.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>$Vornado Realty Trust(VNO-N)$ turned to JPMorgan Chase & Co. and other banks to refinance debt on a New York skyscraper it owns with former president Donald Trump.\nThe $950 million loan is for 1290 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/jpmorgan-lead-refinancing-trump-backed-225311438.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/jpmorgan-lead-refinancing-trump-backed-225311438.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2181715940","content_text":"$Vornado Realty Trust(VNO-N)$ turned to JPMorgan Chase & Co. and other banks to refinance debt on a New York skyscraper it owns with former president Donald Trump.\nThe $950 million loan is for 1290 Avenue of the Americas, a 43-story tower located in Midtown Manhattan, according to a report from Kroll Bond Rating Agency. The transaction will be parceled into a commercial mortgage bond that may be announced as soon as next week.\nThis will be the second of two Trump-linked office towers that Vornado has refinanced. In April, JPMorgan arranged $1.2 billion of debt linked to 555 California Street in San Francisco. That transaction allowed Vornado and Trump to extract $617 million in equity, a welcome boost to Trump as he faced declining revenues from his real estate empire. This time, no equity is being taken out, the Kroll report showed.\nTrump owns 30% of the building, but has no role in property-related decisions, according to Kroll, which showed how revenues have climbed from the pandemic lows in 2019. As of November, the property was 98% leased to 25 tenants, Kroll said.\nTrump’s stake in the joint venture with Vornado is the most valuable part of his portfolio, worth about $685 million of his $2.5 billion fortune, according to the Bloomberg Billionaires Index.\nDespite shrinking demand for office space, lower rents and uncertainty about how much telecommuting will occur post-pandemic, investors have clamored for securitized bonds that offer a little more yield than other asset-backed debt and corporate securities.","news_type":1,"symbols_score_info":{"JPM":0.9,"VNO":0.9}},"isVote":1,"tweetType":1,"viewCount":1394,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848252670,"gmtCreate":1636005370342,"gmtModify":1636005503608,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Pls like!","listText":"Pls like!","text":"Pls like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848252670","repostId":"1109707217","repostType":4,"repost":{"id":"1109707217","kind":"news","pubTimestamp":1636004803,"share":"https://ttm.financial/m/news/1109707217?lang=&edition=full","pubTime":"2021-11-04 13:46","market":"us","language":"en","title":"He predicted Dow 36,000 in 1999. Now, it's finally here","url":"https://stock-news.laohu8.com/highlight/detail?id=1109707217","media":"CNN Business","summary":"London (CNN Business)Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that t","content":"<p>London (CNN Business)Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that the Dow Jones Industrial Average could hit 36,000 as soon as 2005.</p>\n<p>That prediction in their book, \"Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market\" did not come true. The dot-com bubble popped, sending markets into a tailspin. The comeback in 2006 and 2007 was cut off by the global financial crisis and Great Recession.</p>\n<p>But the rally in the wake of the Covid-19 pandemic has finally delivered. On Tuesday, the Dow closed above 36,000 for the first time ever, propelled by unprecedented levels of government and central bank stimulus and enthusiasm about corporate earnings.</p>\n<p>The rebound has been sharp and quick. The Dow passed the 35,000 mark for the first time in July.</p>\n<p>\"This is yet another reminder for investors how far we've come the past 20 months,\" said Ryan Detrick, chief market strategist for LPL Financial. \"In fact, 2021 is the only year in history to hit six separate 1,000 milestone levels.\"</p>\n<p>Hassett, who served as a senior economic adviser to President Donald Trump, doesn't see the book as a forecasting miss. Instead, he told me, its central thesis has held up well.</p>\n<p>We chatted by email about the milestone and his reflections. The following conversation has been condensed and lightly edited for clarity.</p>\n<p>Why did it take longer than you expected for the Dow to cross the 36,000 threshold?</p>\n<p>KH: The book was always about the case for holding stocks for long periods in order to reduce risk. Our first piece on this, and the book, always made it clear that nobody can predict stock movements in the short run. But over longer periods, prices go up. Many were arguing that the huge gains of the 1990s made it too late for ordinary investors to join the party. We said it was not, if they could commit to the long run.</p>\n<p>You wrote in 1999 that stocks weren't as risky as investors believed and were undervalued. Do you still think that's true?</p>\n<p>KH: The data since have confirmed patterns that have been clear back to the early 1800s. In the long run, the risks associated with holding stocks decline.</p>\n<p>Which of the book's arguments do you think have held up best?</p>\n<p>KH: The average return on equity since the book came out has been almost exactly what we assumed.</p>\n<p>And the worst?</p>\n<p>KH: We expected interest rates to be higher, and never anticipated quantitative easing. In some sense, this is good news for stock investors going forward. The equity premium is still healthy, so expected returns on stocks over the next two decades are still higher than for bonds.</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>He predicted Dow 36,000 in 1999. Now, it's finally here</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: 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\">\nHe predicted Dow 36,000 in 1999. Now, it's finally here\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-04 13:46 GMT+8 <a href=https://edition.cnn.com/2021/11/03/investing/premarket-stocks-trading/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>London (CNN Business)Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that the Dow Jones Industrial Average could hit 36,000 as soon as 2005.\nThat prediction in their book, \"...</p>\n\n<a href=\"https://edition.cnn.com/2021/11/03/investing/premarket-stocks-trading/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/11/03/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109707217","content_text":"London (CNN Business)Journalist James Glassman and economist Kevin Hassett wrote in late 1999 that the Dow Jones Industrial Average could hit 36,000 as soon as 2005.\nThat prediction in their book, \"Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market\" did not come true. The dot-com bubble popped, sending markets into a tailspin. The comeback in 2006 and 2007 was cut off by the global financial crisis and Great Recession.\nBut the rally in the wake of the Covid-19 pandemic has finally delivered. On Tuesday, the Dow closed above 36,000 for the first time ever, propelled by unprecedented levels of government and central bank stimulus and enthusiasm about corporate earnings.\nThe rebound has been sharp and quick. The Dow passed the 35,000 mark for the first time in July.\n\"This is yet another reminder for investors how far we've come the past 20 months,\" said Ryan Detrick, chief market strategist for LPL Financial. \"In fact, 2021 is the only year in history to hit six separate 1,000 milestone levels.\"\nHassett, who served as a senior economic adviser to President Donald Trump, doesn't see the book as a forecasting miss. Instead, he told me, its central thesis has held up well.\nWe chatted by email about the milestone and his reflections. The following conversation has been condensed and lightly edited for clarity.\nWhy did it take longer than you expected for the Dow to cross the 36,000 threshold?\nKH: The book was always about the case for holding stocks for long periods in order to reduce risk. Our first piece on this, and the book, always made it clear that nobody can predict stock movements in the short run. But over longer periods, prices go up. Many were arguing that the huge gains of the 1990s made it too late for ordinary investors to join the party. We said it was not, if they could commit to the long run.\nYou wrote in 1999 that stocks weren't as risky as investors believed and were undervalued. Do you still think that's true?\nKH: The data since have confirmed patterns that have been clear back to the early 1800s. In the long run, the risks associated with holding stocks decline.\nWhich of the book's arguments do you think have held up best?\nKH: The average return on equity since the book came out has been almost exactly what we assumed.\nAnd the worst?\nKH: We expected interest rates to be higher, and never anticipated quantitative easing. In some sense, this is good news for stock investors going forward. The equity premium is still healthy, so expected returns on stocks over the next two decades are still higher than for bonds.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841250945,"gmtCreate":1635917278949,"gmtModify":1635917279058,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like thank you!","listText":"Please like thank you!","text":"Please like thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/841250945","repostId":"2180736486","repostType":4,"repost":{"id":"2180736486","kind":"news","pubTimestamp":1635884504,"share":"https://ttm.financial/m/news/2180736486?lang=&edition=full","pubTime":"2021-11-03 04:21","market":"us","language":"en","title":"Wall Street mints record highs, helped by strong earnings; Fed up next","url":"https://stock-news.laohu8.com/highlight/detail?id=2180736486","media":"Reuters","summary":"Nov 2 (Reuters) - Wall Street's main indexes rose on Tuesday to record highs as a strong earnings se","content":"<p>Nov 2 (Reuters) - Wall Street's main indexes rose on Tuesday to record highs as a strong earnings season continued to lift sentiment for equities, while investors were looking ahead to the outcome of a critical Federal Reserve meeting.</p>\n<p>The S&P 500 and Nasdaq notched record closing highs for a fourth straight session, while the Dow Jones Industrial Average posted its third straight record close and ended above 36,000 for the first time.</p>\n<p>Pfizer shares rose 4.1% after the drugmaker said it expected 2021 sales of the COVID-19 vaccine it developed with German partner BioNTech to reach $36 billion.</p>\n<p>Overall, third-quarter earnings have come in better-than-expected for U.S. companies as the economy continues to bounce back from the coronavirus pandemic. With some 320 companies having reported so far, S&P 500 earnings are expected to have climbed 40.2% in the third quarter from a year ago, according to Refinitiv IBES.</p>\n<p>\"From a fundamental perspective, there is a strong underpinning for the performance of the broad equity market complex,\" said Bill Northey, senior investment director at U.S. Bank Wealth Management.</p>\n<p>\"The next several days and weeks will include significant developments on the policy front, and we are watching that very closely because as we transition out of the earnings reporting season many of the macro factors will start to take center stage again.”</p>\n<p>The Dow Jones Industrial Average rose 138.79 points, or 0.39%, to 36,052.63, the S&P 500 gained 16.98 points, or 0.37%, to 4,630.65 and the Nasdaq Composite added 53.69 points, or 0.34%, to 15,649.60.</p>\n<p>The economically sensitive Dow Jones Transportation Average soared 6.9% to hit an all-time high, lifted by a 108% surge in shares of Avis Budget after the car-rental firm reported earnings.</p>\n<p>Nine of 11 S&P 500 sectors ended positive with materials leading the way, up 1.1%. The energy sector fell 1%.</p>\n<p>The Fed on Wednesday is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. Investors will also be focused on commentary about interest rates and how sustained the recent surge in inflation is.</p>\n<p>\"Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.</p>\n<p>In company news, shares of Under Armour Inc jumped 16.5% after the athletic apparel maker raised its annual forecasts.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.02-to-1 ratio favored advancers.</p>\n<p>The S&P 500 posted 58 new 52-week highs and four new lows; the Nasdaq Composite recorded 182 new highs and 51 new lows.</p>\n<p>About 10.2 billion shares changed hands in U.S. exchanges, compared with the 10.3 billion daily average over the last 20 sessions. (Reporting by Lewis Krauskopf in New York, Devik Jain and Shashank Nayar in Bengaluru; Editing by Maju Samuel and Cynthia Osterman)</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street mints record highs, helped by strong earnings; Fed up next</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: 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\">\nWall Street mints record highs, helped by strong earnings; Fed up next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-03 04:21 GMT+8 <a href=https://finance.yahoo.com/news/us-stocks-wall-street-mints-202144431.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nov 2 (Reuters) - Wall Street's main indexes rose on Tuesday to record highs as a strong earnings season continued to lift sentiment for equities, while investors were looking ahead to the outcome of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-street-mints-202144431.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UAA":"安德玛公司A类股","PFE":"辉瑞","COMP":"Compass, Inc.","UA":"安德玛公司C类股"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-street-mints-202144431.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2180736486","content_text":"Nov 2 (Reuters) - Wall Street's main indexes rose on Tuesday to record highs as a strong earnings season continued to lift sentiment for equities, while investors were looking ahead to the outcome of a critical Federal Reserve meeting.\nThe S&P 500 and Nasdaq notched record closing highs for a fourth straight session, while the Dow Jones Industrial Average posted its third straight record close and ended above 36,000 for the first time.\nPfizer shares rose 4.1% after the drugmaker said it expected 2021 sales of the COVID-19 vaccine it developed with German partner BioNTech to reach $36 billion.\nOverall, third-quarter earnings have come in better-than-expected for U.S. companies as the economy continues to bounce back from the coronavirus pandemic. With some 320 companies having reported so far, S&P 500 earnings are expected to have climbed 40.2% in the third quarter from a year ago, according to Refinitiv IBES.\n\"From a fundamental perspective, there is a strong underpinning for the performance of the broad equity market complex,\" said Bill Northey, senior investment director at U.S. Bank Wealth Management.\n\"The next several days and weeks will include significant developments on the policy front, and we are watching that very closely because as we transition out of the earnings reporting season many of the macro factors will start to take center stage again.”\nThe Dow Jones Industrial Average rose 138.79 points, or 0.39%, to 36,052.63, the S&P 500 gained 16.98 points, or 0.37%, to 4,630.65 and the Nasdaq Composite added 53.69 points, or 0.34%, to 15,649.60.\nThe economically sensitive Dow Jones Transportation Average soared 6.9% to hit an all-time high, lifted by a 108% surge in shares of Avis Budget after the car-rental firm reported earnings.\nNine of 11 S&P 500 sectors ended positive with materials leading the way, up 1.1%. The energy sector fell 1%.\nThe Fed on Wednesday is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. Investors will also be focused on commentary about interest rates and how sustained the recent surge in inflation is.\n\"Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.\nIn company news, shares of Under Armour Inc jumped 16.5% after the athletic apparel maker raised its annual forecasts.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.02-to-1 ratio favored advancers.\nThe S&P 500 posted 58 new 52-week highs and four new lows; the Nasdaq Composite recorded 182 new highs and 51 new lows.\nAbout 10.2 billion shares changed hands in U.S. exchanges, compared with the 10.3 billion daily average over the last 20 sessions. (Reporting by Lewis Krauskopf in New York, Devik Jain and Shashank Nayar in Bengaluru; Editing by Maju Samuel and Cynthia Osterman)","news_type":1,"symbols_score_info":{"COMP":0.9,"PFE":0.9,"UA":0.9,"UAA":0.9}},"isVote":1,"tweetType":1,"viewCount":1210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":813580045,"gmtCreate":1630213959287,"gmtModify":1704957135188,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like!","listText":"Please like!","text":"Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813580045","repostId":"2162733980","repostType":4,"repost":{"id":"2162733980","kind":"news","pubTimestamp":1630112394,"share":"https://ttm.financial/m/news/2162733980?lang=&edition=full","pubTime":"2021-08-28 08:59","market":"us","language":"en","title":"Morgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust","url":"https://stock-news.laohu8.com/highlight/detail?id=2162733980","media":"Benzinga","summary":"What Happened: Investment banking giant Morgan Stanley (NYSE: MS) is now the second-largest sharehol","content":"<p><b>What Happened: </b>Investment banking giant <b><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> </b>(NYSE: MS) is now the second-largest shareholder of the <b>Grayscale Bitcoin Trust </b>(OTCMKTS: GBTC) after ARK Investment Management.</p>\n<p>According to recent SEC filings, Morgan Stanley owns over 6.5 million shares of GBTC worth over $240 million at the time of writing.</p>\n<p>Cathie Wood’s ARK Invest funds currently own 9 million shares worth $350 million.</p>\n<p>Morgan Stanley’s GBTC holdings are spread out across a series of funds, of which the Morgan Stanley Insight Fund holds close to 1 million shares.</p>\n<p>The purchases over the past few months also demonstrate how significantly Morgan Stanley has increased its exposure to the leading digital asset.</p>\n<p>At the end of June, the firm reported holding 28,000 shares of GBTC worth around $800,000 at the time.</p>\n<p><b>What Else:</b> The Grayscale Bitcoin Trust itself holds over $31.24 billion of <b>Bitcoin </b>(CRYPTO: BTC) according to a recent update of its assets under management.</p>\n<p>The digital asset management firm had an overall AUM of over $43 billion at the time of writing, of which nearly $10 billion is held in the <b>Grayscale Ethereum Trust </b>(OTCMKTS: ETHE).</p>\n<p>Earlier this year, Grayscale revealed that it was 100% committed to converting its Bitcoin trust, which is currently the largest in the world, into an Exchange Traded Fund (ETF).</p>\n<p><b>Price Action:</b> At press time, GBTC shares was trading $39.15, up 3.52%. Bitcoin was up 3.66% over the past 24-hours, trading at a price of $48,976.</p>","source":"yahoofinance","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>Morgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust</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: 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\">\nMorgan Stanley Bought $240M Shares Of Grayscale Bitcoin Trust\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:59 GMT+8 <a href=https://finance.yahoo.com/news/morgan-stanley-bought-240m-shares-211654020.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What Happened: Investment banking giant Morgan Stanley (NYSE: MS) is now the second-largest shareholder of the Grayscale Bitcoin Trust (OTCMKTS: GBTC) after ARK Investment Management.\nAccording to ...</p>\n\n<a href=\"https://finance.yahoo.com/news/morgan-stanley-bought-240m-shares-211654020.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-bought-240m-shares-211654020.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2162733980","content_text":"What Happened: Investment banking giant Morgan Stanley (NYSE: MS) is now the second-largest shareholder of the Grayscale Bitcoin Trust (OTCMKTS: GBTC) after ARK Investment Management.\nAccording to recent SEC filings, Morgan Stanley owns over 6.5 million shares of GBTC worth over $240 million at the time of writing.\nCathie Wood’s ARK Invest funds currently own 9 million shares worth $350 million.\nMorgan Stanley’s GBTC holdings are spread out across a series of funds, of which the Morgan Stanley Insight Fund holds close to 1 million shares.\nThe purchases over the past few months also demonstrate how significantly Morgan Stanley has increased its exposure to the leading digital asset.\nAt the end of June, the firm reported holding 28,000 shares of GBTC worth around $800,000 at the time.\nWhat Else: The Grayscale Bitcoin Trust itself holds over $31.24 billion of Bitcoin (CRYPTO: BTC) according to a recent update of its assets under management.\nThe digital asset management firm had an overall AUM of over $43 billion at the time of writing, of which nearly $10 billion is held in the Grayscale Ethereum Trust (OTCMKTS: ETHE).\nEarlier this year, Grayscale revealed that it was 100% committed to converting its Bitcoin trust, which is currently the largest in the world, into an Exchange Traded Fund (ETF).\nPrice Action: At press time, GBTC shares was trading $39.15, up 3.52%. Bitcoin was up 3.66% over the past 24-hours, trading at a price of $48,976.","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813019891,"gmtCreate":1630113290113,"gmtModify":1704956108680,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like!","listText":"Please like!","text":"Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/813019891","repostId":"2162024053","repostType":4,"repost":{"id":"2162024053","kind":"highlight","pubTimestamp":1630110600,"share":"https://ttm.financial/m/news/2162024053?lang=&edition=full","pubTime":"2021-08-28 08:30","market":"us","language":"en","title":"Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again","url":"https://stock-news.laohu8.com/highlight/detail?id=2162024053","media":"Motley Fool","summary":"A stronger pace of growth in the future, thanks to solid demand, could send this tech stock's price much higher.","content":"<p><b>Applied Materials</b> (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the back of terrific growth in revenue and earnings. What's more, Applied's guidance turned out to be strong as well, fueled by the massive growth in semiconductor investments across the globe as chipmakers are scrambling to meet huge end-market demand.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36e7c524b510f3ddf875d48fa2f3ac29\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<p>It's worth noting that Applied Materials stock is now trading at a cheaper valuation than it was before the quarterly report came out, thanks to the terrific earnings growth. Its price-to-earnings (P/E) ratio is just 23, while the forward earnings multiple of 17 indicates that more bottom-line growth is in the cards. These multiples are lower than the <b>S&P 500 Index</b>'s trailing P/E of 31 and forward P/E of 22.</p>\n<p>That means there's a golden opportunity for investors to add a rapidly growing company to their portfolios at an attractive valuation, and they shouldn't miss out. Let's look at some reasons.</p>\n<h2>Applied Materials is now growing at a blistering pace</h2>\n<p>A $1,000 investment in Applied Materials stock a decade ago would be worth almost $12,000 now:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81e0104d17e81fcbfbe06af299b88f05\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>AMAT data by YCharts.</span></p>\n<p>However, as the chart above shows, the company's top and bottom lines haven't exactly grown at a blistering pace over the past 10 years. Its revenue just about doubled, while earnings growth hasn't been eye-popping either, considering the pace at which the broader market's bottom line has increased. Also, as the chart indicates, most of Applied Materials' gains arrived in the past year and a half, after it became evident that the company's offerings would remain in hot demand amid a global semiconductor shortage that has disrupted several industries.</p>\n<p>Not surprisingly, Applied Materials' revenue and earnings have been growing at a much faster pace when compared to its average annual growth in the past 10 years. The company delivered record quarterly revenue of $6.2 billion in Q3, up 41% year over year. It also clocked a record (adjusted) operating margin of 32.7%, a jump of 6.3 percentage points over the prior year.</p>\n<p>The terrific sales and margin growth led to record adjusted earnings of $1.90 per share, up 79% from the year-ago quarter. The results crushed the expectations of analysts who'd been looking for $1.77 per share in earnings on $5.94 billion in revenue.</p>\n<p>Applied Materials' guidance was the icing on the cake. The company expects, at the midpoint of its guidance range, to earn $1.94 per share this quarter on revenue of $6.33 billion. Wall Street had set the bar lower; analysts were expecting just $1.81 in earnings per share on $6.04 billion in revenue. The midpoint of the guidance indicates that Applied is anticipating 35% year-over-year revenue growth this quarter, while non-GAAP (adjusted) earnings could increase 55%.</p>\n<p>The impressive guidance is a clue that Applied Materials has switched into a higher gear, and it's unlikely to step off the gas given the massive end-market opportunity at hand. In fact, it wouldn't be surprising to see its growth over the next decade significantly outpacing the rate at which it's grown in the past 10 years, helping the stock to fly higher once again.</p>\n<h2>Sustainable growth drivers can help the stock soar</h2>\n<p>Applied Materials supplies chip fabrication equipment, services, and software to semiconductor manufacturers. Its largest source of revenue is the semiconductor systems business, through which Applied develops, manufactures, and sells semiconductor fabrication equipment. This segment produced nearly 72% of the company's total revenue last quarter and recorded 53% year-over-year growth.</p>\n<p>Within the semiconductor systems business, the foundry/logic vertical occupied the largest share with 63% of total revenue, up from 55% in the year-ago quarter. The foundry business is built for long-term growth, as chipmakers across the globe are ramping up capacity. For instance, global semiconductor capital spending stood at an estimated $29.4 billion in 2010, according to <b>Gartner</b>. Last year, that number had ballooned to $106.9 billion.</p>\n<p>Gartner estimates that global semiconductor spending will rise to $141.9 billion this year. Spending on semiconductor equipment can keep moving higher in the coming years on the back of a huge jump in chip demand.</p>\n<p>Applied Materials points out that the semiconductor industry took 40 years to achieve its first $200 billion in revenue; from 2000 to 2017, the industry added the next $200 billion. An additional $200 billion of revenue is expected by 2024, over a shorter span of just seven years. What's more, the semiconductor industry's revenue is anticipated to increase a whopping $400 billion from 2025 to 2030, hitting $1 trillion at the end of the forecast period.</p>\n<p>Chipmakers will need to buy new equipment or upgrade their existing setups to cater to this massive increase in semiconductor demand, which will be driven by several verticals including automotive, networking, and industrial. Discussing \"PPACt\" (chip power efficiency, performance, area, cost, and time to market), Applied Materials CEO Gary Dickerson said on the Q3 earnings call that the company is on track to take advantage of these tailwinds and outperform the broader market:</p>\n<blockquote>\n As we look ahead, we are confident that the strength of longer-term secular trends will drive semiconductor and wafer fab equipment markets structurally higher. And we believe Applied is in the best position to accelerate our customers' PPACt roadmaps, and grow significantly faster than our markets.\n</blockquote>\n<p>All of this indicates that Applied Materials is in a solid position to deliver more upside. Analysts expect the company's earnings to clock a compound annual growth rate (CAGR) of nearly 25% for the next five years. At its current valuation, buying this tech stock is a no-brainer.</p>","source":"fool_stock","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>Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again</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: 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\">\nGot $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:30 GMT+8 <a href=https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Applied Materials (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMAT":"应用材料"},"source_url":"https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162024053","content_text":"Applied Materials (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the back of terrific growth in revenue and earnings. What's more, Applied's guidance turned out to be strong as well, fueled by the massive growth in semiconductor investments across the globe as chipmakers are scrambling to meet huge end-market demand.\nImage source: Getty Images.\nIt's worth noting that Applied Materials stock is now trading at a cheaper valuation than it was before the quarterly report came out, thanks to the terrific earnings growth. Its price-to-earnings (P/E) ratio is just 23, while the forward earnings multiple of 17 indicates that more bottom-line growth is in the cards. These multiples are lower than the S&P 500 Index's trailing P/E of 31 and forward P/E of 22.\nThat means there's a golden opportunity for investors to add a rapidly growing company to their portfolios at an attractive valuation, and they shouldn't miss out. Let's look at some reasons.\nApplied Materials is now growing at a blistering pace\nA $1,000 investment in Applied Materials stock a decade ago would be worth almost $12,000 now:\nAMAT data by YCharts.\nHowever, as the chart above shows, the company's top and bottom lines haven't exactly grown at a blistering pace over the past 10 years. Its revenue just about doubled, while earnings growth hasn't been eye-popping either, considering the pace at which the broader market's bottom line has increased. Also, as the chart indicates, most of Applied Materials' gains arrived in the past year and a half, after it became evident that the company's offerings would remain in hot demand amid a global semiconductor shortage that has disrupted several industries.\nNot surprisingly, Applied Materials' revenue and earnings have been growing at a much faster pace when compared to its average annual growth in the past 10 years. The company delivered record quarterly revenue of $6.2 billion in Q3, up 41% year over year. It also clocked a record (adjusted) operating margin of 32.7%, a jump of 6.3 percentage points over the prior year.\nThe terrific sales and margin growth led to record adjusted earnings of $1.90 per share, up 79% from the year-ago quarter. The results crushed the expectations of analysts who'd been looking for $1.77 per share in earnings on $5.94 billion in revenue.\nApplied Materials' guidance was the icing on the cake. The company expects, at the midpoint of its guidance range, to earn $1.94 per share this quarter on revenue of $6.33 billion. Wall Street had set the bar lower; analysts were expecting just $1.81 in earnings per share on $6.04 billion in revenue. The midpoint of the guidance indicates that Applied is anticipating 35% year-over-year revenue growth this quarter, while non-GAAP (adjusted) earnings could increase 55%.\nThe impressive guidance is a clue that Applied Materials has switched into a higher gear, and it's unlikely to step off the gas given the massive end-market opportunity at hand. In fact, it wouldn't be surprising to see its growth over the next decade significantly outpacing the rate at which it's grown in the past 10 years, helping the stock to fly higher once again.\nSustainable growth drivers can help the stock soar\nApplied Materials supplies chip fabrication equipment, services, and software to semiconductor manufacturers. Its largest source of revenue is the semiconductor systems business, through which Applied develops, manufactures, and sells semiconductor fabrication equipment. This segment produced nearly 72% of the company's total revenue last quarter and recorded 53% year-over-year growth.\nWithin the semiconductor systems business, the foundry/logic vertical occupied the largest share with 63% of total revenue, up from 55% in the year-ago quarter. The foundry business is built for long-term growth, as chipmakers across the globe are ramping up capacity. For instance, global semiconductor capital spending stood at an estimated $29.4 billion in 2010, according to Gartner. Last year, that number had ballooned to $106.9 billion.\nGartner estimates that global semiconductor spending will rise to $141.9 billion this year. Spending on semiconductor equipment can keep moving higher in the coming years on the back of a huge jump in chip demand.\nApplied Materials points out that the semiconductor industry took 40 years to achieve its first $200 billion in revenue; from 2000 to 2017, the industry added the next $200 billion. An additional $200 billion of revenue is expected by 2024, over a shorter span of just seven years. What's more, the semiconductor industry's revenue is anticipated to increase a whopping $400 billion from 2025 to 2030, hitting $1 trillion at the end of the forecast period.\nChipmakers will need to buy new equipment or upgrade their existing setups to cater to this massive increase in semiconductor demand, which will be driven by several verticals including automotive, networking, and industrial. Discussing \"PPACt\" (chip power efficiency, performance, area, cost, and time to market), Applied Materials CEO Gary Dickerson said on the Q3 earnings call that the company is on track to take advantage of these tailwinds and outperform the broader market:\n\n As we look ahead, we are confident that the strength of longer-term secular trends will drive semiconductor and wafer fab equipment markets structurally higher. And we believe Applied is in the best position to accelerate our customers' PPACt roadmaps, and grow significantly faster than our markets.\n\nAll of this indicates that Applied Materials is in a solid position to deliver more upside. Analysts expect the company's earnings to clock a compound annual growth rate (CAGR) of nearly 25% for the next five years. At its current valuation, buying this tech stock is a no-brainer.","news_type":1,"symbols_score_info":{"AMAT":0.9}},"isVote":1,"tweetType":1,"viewCount":1690,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800331195,"gmtCreate":1627276659117,"gmtModify":1631888932732,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like thanks!","listText":"Please like thanks!","text":"Please like thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800331195","repostId":"1100772026","repostType":4,"isVote":1,"tweetType":1,"viewCount":925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177229688,"gmtCreate":1627225964144,"gmtModify":1631888932735,"author":{"id":"3572924792782965","authorId":"3572924792782965","name":"Zanetaghx","avatar":"https://static.tigerbbs.com/00c8d7266d0f1b04eec7f35954d54324","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572924792782965","authorIdStr":"3572924792782965"},"themes":[],"htmlText":"Please like!","listText":"Please like!","text":"Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177229688","repostId":"2153936352","repostType":4,"repost":{"id":"2153936352","kind":"highlight","pubTimestamp":1627180340,"share":"https://ttm.financial/m/news/2153936352?lang=&edition=full","pubTime":"2021-07-25 10:32","market":"us","language":"en","title":"Will Square Be Worth More Than PayPal by 2025?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153936352","media":"Motley Fool","summary":"Could the ambitious fintech company overtake the market leader?","content":"<p><b>Square</b> (NYSE:SQ) and <b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a></b> (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from<b> <a href=\"https://laohu8.com/S/EBAY\">eBay</a> </b>(NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.</p>\n<p>Square is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3384d45efb17ed54b398c7dbcc043fb\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2><b>Wild ambitions vs. stable growth</b></h2>\n<p>Square and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.</p>\n<p>But Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added <b>Bitcoin</b> (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.</p>\n<p>PayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.</p>\n<h2>Which company is growing faster?</h2>\n<p>Between 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.</p>\n<table border=\"1\" width=\"600\">\n <colgroup></colgroup>\n <tbody>\n <tr valign=\"TOP\">\n <th width=\"118\"><p>Company</p></th>\n <th width=\"213\"><p>Estimated Sales Growth (FY 2021)</p></th>\n <th width=\"225\"><p>Estimated Sales Growth(FY 2022)</p></th>\n </tr>\n <tr valign=\"TOP\">\n <td width=\"118\"><p><b>Square</b></p></td>\n <td width=\"213\"><p>110.6%</p></td>\n <td width=\"225\"><p>14.1%</p></td>\n </tr>\n <tr valign=\"TOP\">\n <td width=\"118\"><p><b>PayPal</b></p></td>\n <td width=\"213\"><p>20.6%</p></td>\n <td width=\"225\"><p>21.5%</p></td>\n </tr>\n </tbody>\n</table>\n<p>Source: Yahoo Finance, July 22.</p>\n<p>Analysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.</p>\n<p>Cathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.</p>\n<p>PayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.</p>\n<p>PayPal expects to nearly double its active accounts to 750 million and <i>more than double</i> its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.</p>\n<h2>Will Square be worth more than PayPal by 2025?</h2>\n<p>In a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.</p>\n<p>If Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.</p>\n<p>Therefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.</p>","source":"fool_stock","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>Will Square Be Worth More Than PayPal by 2025?</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: 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\">\nWill Square Be Worth More Than PayPal by 2025?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-25 10:32 GMT+8 <a href=https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153936352","content_text":"Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from eBay (NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.\nSquare is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.\nImage source: Getty Images.\nWild ambitions vs. stable growth\nSquare and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.\nBut Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added Bitcoin (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.\nPayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.\nWhich company is growing faster?\nBetween 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.\n\n\n\n\nCompany\nEstimated Sales Growth (FY 2021)\nEstimated Sales Growth(FY 2022)\n\n\nSquare\n110.6%\n14.1%\n\n\nPayPal\n20.6%\n21.5%\n\n\n\nSource: Yahoo Finance, July 22.\nAnalysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.\nCathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.\nPayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.\nPayPal expects to nearly double its active accounts to 750 million and more than double its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.\nWill Square be worth more than PayPal by 2025?\nIn a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.\nIf Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.\nTherefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.","news_type":1,"symbols_score_info":{"PYPL":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":false}