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Yyangg
Yyangg
·
2021-06-16
@agoyagi
What’s new 🤔
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Yyangg
Yyangg
·
2021-06-16
[Smile]
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Yyangg
Yyangg
·
2021-06-13
//
@agoyagi
:Great article, would you like to share it?
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Yyangg
Yyangg
·
2021-06-12
First principles☝🏻
Opinion: Stock investors now have come to a cliff in the road — and options are limited<blockquote>观点:股票投资者现在已经走到了悬崖边——而且选择有限</blockquote>
Fundamental things haven’t applied to the U.S. market but that seems about to change. The coronavir
Opinion: Stock investors now have come to a cliff in the road — and options are limited<blockquote>观点:股票投资者现在已经走到了悬崖边——而且选择有限</blockquote>
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Yyangg
Yyangg
·
2021-06-11
China tech 🤙🏻 //
@agoyagi
:Didi, Grab and Gojek, which are you looking forward the most?
China's Didi reveals U.S. IPO filing, sets stage for blockbuster New York float<blockquote>中国滴滴公布美国IPO文件,为纽约上市奠定基础</blockquote>
(Reuters) -Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a
China's Didi reveals U.S. IPO filing, sets stage for blockbuster New York float<blockquote>中国滴滴公布美国IPO文件,为纽约上市奠定基础</blockquote>
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Yyangg
Yyangg
·
2021-06-09
🤔
S&P 500 closes little changed as "meme stocks" extend rally<blockquote>随着“模因股”延续涨势,标普500收盘变化不大</blockquote>
NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of c
S&P 500 closes little changed as "meme stocks" extend rally<blockquote>随着“模因股”延续涨势,标普500收盘变化不大</blockquote>
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Yyangg
Yyangg
·
2021-06-08
[666]
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Yyangg
Yyangg
·
2021-06-07
//
@agoyagi
:Great ariticle, would you like to share it?
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Yyangg
Yyangg
·
2021-06-06
Bull or Bear?
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Yyangg
Yyangg
·
2021-06-04
😂 //
@agoyagi
:Why is Palantir considered a meme stock 🤔
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principles☝🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/188799953","repostId":"1198311684","repostType":4,"repost":{"id":"1198311684","kind":"news","pubTimestamp":1623415805,"share":"https://www.laohu8.com/m/news/1198311684?lang=zh_CN&edition=full","pubTime":"2021-06-11 20:50","market":"us","language":"en","title":"Opinion: Stock investors now have come to a cliff in the road — and options are limited<blockquote>观点:股票投资者现在已经走到了悬崖边——而且选择有限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198311684","media":"MarketWatch","summary":"Fundamental things haven’t applied to the U.S. market but that seems about to change.\n\nThe coronavir","content":"<p> <b>Fundamental things haven’t applied to the U.S. market but that seems about to change.</b> The coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s extraordinary performance is not based on fundamentals, which ceased to matter some time ago.</p><p><blockquote><b>基本面尚未适用于美国市场,但这种情况似乎即将改变。</b>冠状病毒大流行对投资者来说非常好,但大多数人现在意识到,股市的非凡表现并不是基于基本面,而基本面在一段时间前就不再重要了。</blockquote></p><p> Central banks have been driving asset prices with massive liquidity infusions and zero interest rates. Consumption and corporate earnings are underpinned by large government transfer payments, fiscal stimulus and industry support.</p><p><blockquote>各国央行一直在通过大规模流动性注入和零利率来推动资产价格。消费和企业盈利受到政府巨额转移支付、财政刺激和行业支持的支撑。</blockquote></p><p> Will it last? The consensus is that most assets are overpriced. Prices ultimately are the present value of future cash flows. Authorities have manipulated the discount rate but altering underlying long-term cash flows, which are driven by the real economy, is more difficult. Low volatility, engineered by central banks, also encourages exuberant prices. At some stage, profligate government deficits may be reigned by either winding back spending or increasing taxes. These policies may also drive inflation, requiring tighter monetary policy and higher rates. </p><p><blockquote>它会持续吗?共识是大多数资产定价过高。价格最终是未来现金流的现值。当局操纵了贴现率,但改变由实体经济驱动的潜在长期现金流更加困难。央行设计的低波动性也鼓励了价格的上涨。在某个阶段,挥霍无度的政府赤字可能会通过减少支出或增加税收来控制。这些政策也可能推动通胀,需要收紧货币政策和提高利率。</blockquote></p><p> Currently high stock prices expose investors to the risk of a sudden correction, when the game of musical chairs stops unexpectedly. Given that almost all of the gains have been in price rather than income (dividends, interest, etc.), the vulnerability is exacerbated. The unstable structure of the financial system — high leverage, shadow banks, illiquidity, unresolved linkages, the rise in trend following investors — means that any problem may trigger a major adjustment.</p><p><blockquote>目前的高股价使投资者面临突然调整的风险,当音乐椅的游戏意外停止时。鉴于几乎所有的收益都是价格而不是收入(股息、利息等)。),脆弱性加剧。金融体系的不稳定结构——高杠杆、影子银行、流动性不足、未解决的联系、跟风投资者的上升——意味着任何问题都可能引发重大调整。</blockquote></p><p> Investors’ options are limited. You could believe in the permanency of a “new normal.” Risky asset investments are then justified on the basis that authorities must ensure high- and rising asset prices, primarily as the alternative is too awful to contemplate. This assumes that policy options remain unconstrained indefinitely.</p><p><blockquote>投资者的选择有限。你可以相信“新常态”的持久性。然后,风险资产投资是合理的,因为当局必须确保高且不断上涨的资产价格,主要是因为替代方案太糟糕而无法考虑。这假设策略选项无限期地保持不受约束。</blockquote></p><p> Or investors can rely on momentum, essentially Keynes’ so-called beauty contest theory of investing, which anticipated today’s “meme stocks.” Successful investment requires investors to select the most popular faces among all judges, rather than those they may personally find the most attractive. The difficulty is knowing the judge’s mind and recognizing when to sell before the music stops.</p><p><blockquote>或者投资者可以依靠动量,本质上是凯恩斯所谓的投资选美理论,该理论预测了今天的“模因股票”。成功的投资需要投资者在所有评委中选出最受欢迎的面孔,而不是他们个人可能觉得最有吸引力的面孔。困难在于了解法官的想法,并在音乐停止之前识别何时出售。</blockquote></p><p> Third, investors can park their money in cash. This means accepting exceptionally low returns perhaps for a prolonged period and, worst of all, missing out on further gains.</p><p><blockquote>第三,投资者可以将资金存入现金。这意味着可能会在很长一段时间内接受极低的回报,最糟糕的是,错过进一步的收益。</blockquote></p><p> An alternative is to reposition defensively into assets or businesses with reliable income streams operating in essential industries or selling staples. These traditional “widows and orphans” investments are more difficult to find today. “Safe” government bonds now offer little income but high risk. Stock and property prices are highly correlated, reflecting investor behavior as well as the common reliance on leverage. More liquid and better-quality assets frequently come under selling pressure when leveraged investors need to raise cash. Today, just as a rising tide lifts all boats, a receding surge leaves everyone stranded.</p><p><blockquote>另一种选择是防御性地重新定位于在重要行业运营或销售主食的具有可靠收入流的资产或业务。这些传统的“寡妇和孤儿”投资如今更难找到。“安全”政府债券现在收入很少,但风险很高。股票和房地产价格高度相关,反映了投资者行为以及对杠杆的普遍依赖。当杠杆投资者需要筹集现金时,流动性更强、质量更好的资产经常面临抛售压力。今天,就像涨潮托起所有的船一样,退潮让每个人都被困住了。</blockquote></p><p> Fourth, investors can seek to benefit from higher inflation, switching to stocks that benefit from increasing prices. But the impact on equity prices will depend on whether it is profit inflation (that is, end-product prices rise) or cost inflation, including increases in wages. If it is the latter, then the squeeze on earnings may adversely affect equity valuations. Combined with higher rates, this may adversely affect stocks. Another alternative is inflation-linked securities, such as Treasury inflation-protected securities (TIPS) TIP,+0.52% or commodities. </p><p><blockquote>第四,投资者可以寻求从通胀上升中受益,转向受益于价格上涨的股票。但对股价的影响将取决于是利润通胀(即终端产品价格上涨)还是成本通胀,包括工资上涨。如果是后者,那么盈利的挤压可能会对股票估值产生不利影响。再加上利率上升,这可能会对股票产生不利影响。另一种选择是通胀挂钩证券,例如国债通胀保值证券(TIPS)TIP,+0.52%或大宗商品。</blockquote></p><p> Fifth, investors could go “off-piste,” believing that existing policies are unsustainable and the economic system is irredeemable broken. This favors crypto-currencies, precious metals or collectibles — non-traditional assets whose supply is naturally constrained. The ability of the state to confiscate, tax and regulate, as well as reliance on courts to enforce rights, complicates this quest for freedom.</p><p><blockquote>第五,投资者可能会“偏离轨道”,认为现有政策不可持续,经济体系已无可挽回地崩溃。这有利于加密货币、贵金属或收藏品——供应自然受到限制的非传统资产。国家没收、征税和监管的能力,以及对法院执行权利的依赖,使这种对自由的追求变得复杂。</blockquote></p><p> The ultra-rich and some high-net worth individuals have gone off-grid already by moving into private markets. Concerned about manipulated and gamified markets, they focus now on non-listed real businesses and assets as well as private debt, sacrificing liquidity and transparency for better economics, privacy and control. Unfortunately, these options are limited for ordinary individuals — a different form of inequality.</p><p><blockquote>超级富豪和一些高净值人士已经通过进入私人市场而脱离了电网。由于担心被操纵和游戏化的市场,他们现在专注于非上市的实体企业和资产以及私人债务,为了更好的经济性、隐私和控制而牺牲流动性和透明度。不幸的是,这些选择对普通人来说是有限的——这是一种不同形式的不平等。</blockquote></p><p> Investors therefore face Hobson’s illusory choice, where only one thing is actually offered. They can lose by betting against price rises or that prices keep rising. </p><p><blockquote>因此,投资者面临着霍布森虚幻的选择,实际上只提供一件事。他们可能会因为押注价格上涨或价格持续上涨而失败。</blockquote></p><p></p><p> Policymakers, meanwhile, continue to compound decades of mistakes. They must now keep increasing debt and maintaining low rates in order to keep asset prices high. Government deficits are essential to maintaining economic activity. Kicking the can down the road is the only way to ensure that the day of reckoning is deferred — NIMTO (not in my term of office). This forces investors to go out further on the risk curve to generate returns. </p><p><blockquote>与此同时,政策制定者继续加剧几十年来的错误。他们现在必须继续增加债务并维持低利率,以保持资产价格高位。政府赤字对于维持经济活动至关重要。把罐子踢到路边是确保清算日推迟的唯一方法——NIMTO(不是在我的任期内)。这迫使投资者在风险曲线上走得更远以产生回报。</blockquote></p><p> Perhaps investors nowadays should stick to comedian Will Rogers’s famous investment advice: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”</p><p><blockquote>也许现在的投资者应该坚持喜剧演员威尔·罗杰斯的著名投资建议:“不要赌博;拿出你所有的积蓄,买一些好股票,一直持有到它上涨,然后卖掉它。如果它没有上涨,就不要买它。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Stock investors now have come to a cliff in the road — and options are limited<blockquote>观点:股票投资者现在已经走到了悬崖边——而且选择有限</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Stock investors now have come to a cliff in the road — and options are limited<blockquote>观点:股票投资者现在已经走到了悬崖边——而且选择有限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-11 20:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p> <b>Fundamental things haven’t applied to the U.S. market but that seems about to change.</b> The coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s extraordinary performance is not based on fundamentals, which ceased to matter some time ago.</p><p><blockquote><b>基本面尚未适用于美国市场,但这种情况似乎即将改变。</b>冠状病毒大流行对投资者来说非常好,但大多数人现在意识到,股市的非凡表现并不是基于基本面,而基本面在一段时间前就不再重要了。</blockquote></p><p> Central banks have been driving asset prices with massive liquidity infusions and zero interest rates. Consumption and corporate earnings are underpinned by large government transfer payments, fiscal stimulus and industry support.</p><p><blockquote>各国央行一直在通过大规模流动性注入和零利率来推动资产价格。消费和企业盈利受到政府巨额转移支付、财政刺激和行业支持的支撑。</blockquote></p><p> Will it last? The consensus is that most assets are overpriced. Prices ultimately are the present value of future cash flows. Authorities have manipulated the discount rate but altering underlying long-term cash flows, which are driven by the real economy, is more difficult. Low volatility, engineered by central banks, also encourages exuberant prices. At some stage, profligate government deficits may be reigned by either winding back spending or increasing taxes. These policies may also drive inflation, requiring tighter monetary policy and higher rates. </p><p><blockquote>它会持续吗?共识是大多数资产定价过高。价格最终是未来现金流的现值。当局操纵了贴现率,但改变由实体经济驱动的潜在长期现金流更加困难。央行设计的低波动性也鼓励了价格的上涨。在某个阶段,挥霍无度的政府赤字可能会通过减少支出或增加税收来控制。这些政策也可能推动通胀,需要收紧货币政策和提高利率。</blockquote></p><p> Currently high stock prices expose investors to the risk of a sudden correction, when the game of musical chairs stops unexpectedly. Given that almost all of the gains have been in price rather than income (dividends, interest, etc.), the vulnerability is exacerbated. The unstable structure of the financial system — high leverage, shadow banks, illiquidity, unresolved linkages, the rise in trend following investors — means that any problem may trigger a major adjustment.</p><p><blockquote>目前的高股价使投资者面临突然调整的风险,当音乐椅的游戏意外停止时。鉴于几乎所有的收益都是价格而不是收入(股息、利息等)。),脆弱性加剧。金融体系的不稳定结构——高杠杆、影子银行、流动性不足、未解决的联系、跟风投资者的上升——意味着任何问题都可能引发重大调整。</blockquote></p><p> Investors’ options are limited. You could believe in the permanency of a “new normal.” Risky asset investments are then justified on the basis that authorities must ensure high- and rising asset prices, primarily as the alternative is too awful to contemplate. This assumes that policy options remain unconstrained indefinitely.</p><p><blockquote>投资者的选择有限。你可以相信“新常态”的持久性。然后,风险资产投资是合理的,因为当局必须确保高且不断上涨的资产价格,主要是因为替代方案太糟糕而无法考虑。这假设策略选项无限期地保持不受约束。</blockquote></p><p> Or investors can rely on momentum, essentially Keynes’ so-called beauty contest theory of investing, which anticipated today’s “meme stocks.” Successful investment requires investors to select the most popular faces among all judges, rather than those they may personally find the most attractive. The difficulty is knowing the judge’s mind and recognizing when to sell before the music stops.</p><p><blockquote>或者投资者可以依靠动量,本质上是凯恩斯所谓的投资选美理论,该理论预测了今天的“模因股票”。成功的投资需要投资者在所有评委中选出最受欢迎的面孔,而不是他们个人可能觉得最有吸引力的面孔。困难在于了解法官的想法,并在音乐停止之前识别何时出售。</blockquote></p><p> Third, investors can park their money in cash. This means accepting exceptionally low returns perhaps for a prolonged period and, worst of all, missing out on further gains.</p><p><blockquote>第三,投资者可以将资金存入现金。这意味着可能会在很长一段时间内接受极低的回报,最糟糕的是,错过进一步的收益。</blockquote></p><p> An alternative is to reposition defensively into assets or businesses with reliable income streams operating in essential industries or selling staples. These traditional “widows and orphans” investments are more difficult to find today. “Safe” government bonds now offer little income but high risk. Stock and property prices are highly correlated, reflecting investor behavior as well as the common reliance on leverage. More liquid and better-quality assets frequently come under selling pressure when leveraged investors need to raise cash. Today, just as a rising tide lifts all boats, a receding surge leaves everyone stranded.</p><p><blockquote>另一种选择是防御性地重新定位于在重要行业运营或销售主食的具有可靠收入流的资产或业务。这些传统的“寡妇和孤儿”投资如今更难找到。“安全”政府债券现在收入很少,但风险很高。股票和房地产价格高度相关,反映了投资者行为以及对杠杆的普遍依赖。当杠杆投资者需要筹集现金时,流动性更强、质量更好的资产经常面临抛售压力。今天,就像涨潮托起所有的船一样,退潮让每个人都被困住了。</blockquote></p><p> Fourth, investors can seek to benefit from higher inflation, switching to stocks that benefit from increasing prices. But the impact on equity prices will depend on whether it is profit inflation (that is, end-product prices rise) or cost inflation, including increases in wages. If it is the latter, then the squeeze on earnings may adversely affect equity valuations. Combined with higher rates, this may adversely affect stocks. Another alternative is inflation-linked securities, such as Treasury inflation-protected securities (TIPS) TIP,+0.52% or commodities. </p><p><blockquote>第四,投资者可以寻求从通胀上升中受益,转向受益于价格上涨的股票。但对股价的影响将取决于是利润通胀(即终端产品价格上涨)还是成本通胀,包括工资上涨。如果是后者,那么盈利的挤压可能会对股票估值产生不利影响。再加上利率上升,这可能会对股票产生不利影响。另一种选择是通胀挂钩证券,例如国债通胀保值证券(TIPS)TIP,+0.52%或大宗商品。</blockquote></p><p> Fifth, investors could go “off-piste,” believing that existing policies are unsustainable and the economic system is irredeemable broken. This favors crypto-currencies, precious metals or collectibles — non-traditional assets whose supply is naturally constrained. The ability of the state to confiscate, tax and regulate, as well as reliance on courts to enforce rights, complicates this quest for freedom.</p><p><blockquote>第五,投资者可能会“偏离轨道”,认为现有政策不可持续,经济体系已无可挽回地崩溃。这有利于加密货币、贵金属或收藏品——供应自然受到限制的非传统资产。国家没收、征税和监管的能力,以及对法院执行权利的依赖,使这种对自由的追求变得复杂。</blockquote></p><p> The ultra-rich and some high-net worth individuals have gone off-grid already by moving into private markets. Concerned about manipulated and gamified markets, they focus now on non-listed real businesses and assets as well as private debt, sacrificing liquidity and transparency for better economics, privacy and control. Unfortunately, these options are limited for ordinary individuals — a different form of inequality.</p><p><blockquote>超级富豪和一些高净值人士已经通过进入私人市场而脱离了电网。由于担心被操纵和游戏化的市场,他们现在专注于非上市的实体企业和资产以及私人债务,为了更好的经济性、隐私和控制而牺牲流动性和透明度。不幸的是,这些选择对普通人来说是有限的——这是一种不同形式的不平等。</blockquote></p><p> Investors therefore face Hobson’s illusory choice, where only one thing is actually offered. They can lose by betting against price rises or that prices keep rising. </p><p><blockquote>因此,投资者面临着霍布森虚幻的选择,实际上只提供一件事。他们可能会因为押注价格上涨或价格持续上涨而失败。</blockquote></p><p></p><p> Policymakers, meanwhile, continue to compound decades of mistakes. They must now keep increasing debt and maintaining low rates in order to keep asset prices high. Government deficits are essential to maintaining economic activity. Kicking the can down the road is the only way to ensure that the day of reckoning is deferred — NIMTO (not in my term of office). This forces investors to go out further on the risk curve to generate returns. </p><p><blockquote>与此同时,政策制定者继续加剧几十年来的错误。他们现在必须继续增加债务并维持低利率,以保持资产价格高位。政府赤字对于维持经济活动至关重要。把罐子踢到路边是确保清算日推迟的唯一方法——NIMTO(不是在我的任期内)。这迫使投资者在风险曲线上走得更远以产生回报。</blockquote></p><p> Perhaps investors nowadays should stick to comedian Will Rogers’s famous investment advice: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”</p><p><blockquote>也许现在的投资者应该坚持喜剧演员威尔·罗杰斯的著名投资建议:“不要赌博;拿出你所有的积蓄,买一些好股票,一直持有到它上涨,然后卖掉它。如果它没有上涨,就不要买它。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.marketwatch.com/story/stock-investors-now-have-come-to-a-cliff-in-the-road-and-options-are-limited-11623375733?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/stock-investors-now-have-come-to-a-cliff-in-the-road-and-options-are-limited-11623375733?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198311684","content_text":"Fundamental things haven’t applied to the U.S. market but that seems about to change.\n\nThe coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s extraordinary performance is not based on fundamentals, which ceased to matter some time ago.\nCentral banks have been driving asset prices with massive liquidity infusions and zero interest rates. Consumption and corporate earnings are underpinned by large government transfer payments, fiscal stimulus and industry support.\nWill it last? The consensus is that most assets are overpriced. Prices ultimately are the present value of future cash flows. Authorities have manipulated the discount rate but altering underlying long-term cash flows, which are driven by the real economy, is more difficult. Low volatility, engineered by central banks, also encourages exuberant prices. At some stage, profligate government deficits may be reigned by either winding back spending or increasing taxes. These policies may also drive inflation, requiring tighter monetary policy and higher rates. \nCurrently high stock prices expose investors to the risk of a sudden correction, when the game of musical chairs stops unexpectedly. Given that almost all of the gains have been in price rather than income (dividends, interest, etc.), the vulnerability is exacerbated. The unstable structure of the financial system — high leverage, shadow banks, illiquidity, unresolved linkages, the rise in trend following investors — means that any problem may trigger a major adjustment.\nInvestors’ options are limited. You could believe in the permanency of a “new normal.” Risky asset investments are then justified on the basis that authorities must ensure high- and rising asset prices, primarily as the alternative is too awful to contemplate. This assumes that policy options remain unconstrained indefinitely.\nOr investors can rely on momentum, essentially Keynes’ so-called beauty contest theory of investing, which anticipated today’s “meme stocks.” Successful investment requires investors to select the most popular faces among all judges, rather than those they may personally find the most attractive. The difficulty is knowing the judge’s mind and recognizing when to sell before the music stops.\nThird, investors can park their money in cash. This means accepting exceptionally low returns perhaps for a prolonged period and, worst of all, missing out on further gains.\nAn alternative is to reposition defensively into assets or businesses with reliable income streams operating in essential industries or selling staples. These traditional “widows and orphans” investments are more difficult to find today. “Safe” government bonds now offer little income but high risk. Stock and property prices are highly correlated, reflecting investor behavior as well as the common reliance on leverage. More liquid and better-quality assets frequently come under selling pressure when leveraged investors need to raise cash. Today, just as a rising tide lifts all boats, a receding surge leaves everyone stranded.\nFourth, investors can seek to benefit from higher inflation, switching to stocks that benefit from increasing prices. But the impact on equity prices will depend on whether it is profit inflation (that is, end-product prices rise) or cost inflation, including increases in wages. If it is the latter, then the squeeze on earnings may adversely affect equity valuations. Combined with higher rates, this may adversely affect stocks. Another alternative is inflation-linked securities, such as Treasury inflation-protected securities (TIPS) TIP,+0.52% or commodities. \nFifth, investors could go “off-piste,” believing that existing policies are unsustainable and the economic system is irredeemable broken. This favors crypto-currencies, precious metals or collectibles — non-traditional assets whose supply is naturally constrained. The ability of the state to confiscate, tax and regulate, as well as reliance on courts to enforce rights, complicates this quest for freedom.\nThe ultra-rich and some high-net worth individuals have gone off-grid already by moving into private markets. Concerned about manipulated and gamified markets, they focus now on non-listed real businesses and assets as well as private debt, sacrificing liquidity and transparency for better economics, privacy and control. Unfortunately, these options are limited for ordinary individuals — a different form of inequality.\nInvestors therefore face Hobson’s illusory choice, where only one thing is actually offered. They can lose by betting against price rises or that prices keep rising. \nPolicymakers, meanwhile, continue to compound decades of mistakes. They must now keep increasing debt and maintaining low rates in order to keep asset prices high. Government deficits are essential to maintaining economic activity. Kicking the can down the road is the only way to ensure that the day of reckoning is deferred — NIMTO (not in my term of office). This forces investors to go out further on the risk curve to generate returns. \nPerhaps investors nowadays should stick to comedian Will Rogers’s famous investment advice: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181940748,"gmtCreate":1623371772684,"gmtModify":1631884666512,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"China tech 🤙🏻 //<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Didi, Grab and Gojek, which are you looking forward the most?","listText":"China tech 🤙🏻 //<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Didi, Grab and Gojek, which are you looking forward the most?","text":"China tech 🤙🏻 //@agoyagi:Didi, Grab and Gojek, which are you looking forward the most?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/181940748","repostId":"1152704038","repostType":4,"repost":{"id":"1152704038","kind":"news","pubTimestamp":1623367425,"share":"https://www.laohu8.com/m/news/1152704038?lang=zh_CN&edition=full","pubTime":"2021-06-11 07:23","market":"us","language":"en","title":"China's Didi reveals U.S. IPO filing, sets stage for blockbuster New York float<blockquote>中国滴滴公布美国IPO文件,为纽约上市奠定基础</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1152704038","media":"reuters","summary":"(Reuters) -Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a","content":"<p>(Reuters) -Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a U.S. stock market listing, setting the stage for what is expected to be the world’s biggest initial public offering this year.</p><p><blockquote>(路透社)-中国最大的网约车公司滴滴出行周四公开了其在美国股市上市的申请,为预计今年全球最大的首次公开募股奠定了基础。</blockquote></p><p> The company - backed by Asia’s largest technology investment firms, SoftBank, Alibaba and Tencent - did not reveal the size of the offering, but sources familiar with the matter had previously told Reuters that the ride-hailing giant could raise around $10 billion and seek a valuation of close to $100 billion.</p><p><blockquote>该公司由亚洲最大的科技投资公司软银、阿里巴巴-SW和腾讯控股支持,没有透露此次发行的规模,但知情人士此前告诉路透社,这家网约车巨头可能筹集约100亿美元,并寻求接近1000亿美元的估值。</blockquote></p><p> At that valuation, Didi’s stock market flotation would be the biggest Chinese share offering in the United States, since Alibaba raised $25 billion in its blockbuster IPO in 2014.</p><p><blockquote>按照这一估值,滴滴的上市将是自阿里巴巴-SW 2014年通过重磅IPO筹集250亿美元以来在美国最大的中资股票发行。</blockquote></p><p> In its filing on Thursday, Didi revealed slower revenue growth in 2020 due to the impact of the COVID-19 pandemic, which grounded the global ride-hailing industry to a halt as lockdowns were enforced all over the globe.</p><p><blockquote>滴滴在周四提交的文件中透露,由于COVID-19大流行的影响,2020年收入增长放缓,随着全球各地实施封锁,全球网约车行业陷入停滞。</blockquote></p><p> For 2020, Didi reported revenue of 141.7 billion yuan ($22.17 billion), down from 154.8 billion yuan a year earlier. Net loss stood at 10.6 billion yuan in 2020, compared with 9.7 billion yuan a year earlier.</p><p><blockquote>2020年,滴滴公布的营收为1417亿元人民币(221.7亿美元),低于上年同期的1548亿元人民币。2020年净亏损为106亿元,上年同期为97亿元。</blockquote></p><p> However, Didi started 2021 strongly, as businesses reopened in China. Revenue more than doubled to 42.2 billion yuan (US$6.4 billion) for the three months ended March 31 from 20.5 billion yuan a year earlier.</p><p><blockquote>然而,随着中国业务的重新开业,滴滴在2021年开局强劲。截至3月31日的三个月,收入从去年同期的205亿元人民币增长了一倍多,达到422亿元人民币(64亿美元)。</blockquote></p><p> CHINESE IPO GOLD RUSH</p><p><blockquote>中国IPO淘金热</blockquote></p><p> Didi confidentially filed for its IPO in April. A source familiar with the matter on Thursday said Didi was aiming to go public in July.</p><p><blockquote>滴滴于四月份秘密申请IPO。一位知情人士周四表示,滴滴计划于7月上市。</blockquote></p><p> The mega IPO highlights the lucrative business opportunity presented by Asian tech giants for Wall Street’s big investment banks.</p><p><blockquote>此次大型IPO凸显了亚洲科技巨头为华尔街大型投资银行带来的利润丰厚的商机。</blockquote></p><p> Earlier this year, Singapore’s biggest ride-hailing firm, Grab, struck a $40 billion deal with a special purpose acquisition company, backed by investment firm Altimeter, to go public in the United States.</p><p><blockquote>今年早些时候,新加坡最大的网约车公司Grab与一家由投资公司Altimeter支持的特殊目的收购公司达成了400亿美元的交易,在美国上市。</blockquote></p><p> Last year, Chinese companies raised $12 billion from U.S. listings, more than triple the fundraising amount in 2019, according to Refinitiv data. This year, the raise from Chinese floats on U.S. exchanges is expected to comfortably surpass last year’s tally.</p><p><blockquote>根据Refinitiv的数据,去年,中国公司在美国上市融资120亿美元,是2019年融资额的三倍多。今年,中国在美国交易所的流通量预计将轻松超过去年。</blockquote></p><p> Didi, which merged with then main rival Kuaidi in 2015 to create a smartphone-based transport services giant, counts as its core business a mobile app, where users can hail taxis, privately owned cars, car-pool options and even buses in some cities.</p><p><blockquote>滴滴于2015年与当时的主要竞争对手快的合并,创建了一家基于智能手机的交通服务巨头,其核心业务是移动应用程序,用户可以在其中叫出租车、私家车、拼车选项,甚至在一些城市叫公交车。</blockquote></p><p> Didi plans to list American Depositary Shares (ADSs) on either Nasdaq or the New York Stock Exchange under the symbol \"DIDI\", the company said. (bit.ly/2RGjK0s)</p><p><blockquote>滴滴表示,计划在纳斯达克或纽约证券交易所上市美国存托股票(ADS),代码为“DIDI”。(bit.ly/2RGjK0s)</blockquote></p><p> Didi Chief Executive Cheng Wei said last year the firm aims to have 800 million monthly active users globally and complete 100 million orders a day by 2022, including ride-sharing, bike and food delivery orders.</p><p><blockquote>滴滴首席执行官程维去年表示,该公司的目标是到2022年在全球拥有8亿月活跃用户,每天完成1亿个订单,包括拼车、自行车和食品配送订单。</blockquote></p><p> Goldman Sachs, Morgan Stanley and J.P.Morgan are the lead underwriters for the offering.</p><p><blockquote>高盛、摩根士丹利和摩根大通是此次发行的主承销商。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Didi reveals U.S. IPO filing, sets stage for blockbuster New York float<blockquote>中国滴滴公布美国IPO文件,为纽约上市奠定基础</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Didi reveals U.S. IPO filing, sets stage for blockbuster New York float<blockquote>中国滴滴公布美国IPO文件,为纽约上市奠定基础</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-06-11 07:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a U.S. stock market listing, setting the stage for what is expected to be the world’s biggest initial public offering this year.</p><p><blockquote>(路透社)-中国最大的网约车公司滴滴出行周四公开了其在美国股市上市的申请,为预计今年全球最大的首次公开募股奠定了基础。</blockquote></p><p> The company - backed by Asia’s largest technology investment firms, SoftBank, Alibaba and Tencent - did not reveal the size of the offering, but sources familiar with the matter had previously told Reuters that the ride-hailing giant could raise around $10 billion and seek a valuation of close to $100 billion.</p><p><blockquote>该公司由亚洲最大的科技投资公司软银、阿里巴巴-SW和腾讯控股支持,没有透露此次发行的规模,但知情人士此前告诉路透社,这家网约车巨头可能筹集约100亿美元,并寻求接近1000亿美元的估值。</blockquote></p><p> At that valuation, Didi’s stock market flotation would be the biggest Chinese share offering in the United States, since Alibaba raised $25 billion in its blockbuster IPO in 2014.</p><p><blockquote>按照这一估值,滴滴的上市将是自阿里巴巴-SW 2014年通过重磅IPO筹集250亿美元以来在美国最大的中资股票发行。</blockquote></p><p> In its filing on Thursday, Didi revealed slower revenue growth in 2020 due to the impact of the COVID-19 pandemic, which grounded the global ride-hailing industry to a halt as lockdowns were enforced all over the globe.</p><p><blockquote>滴滴在周四提交的文件中透露,由于COVID-19大流行的影响,2020年收入增长放缓,随着全球各地实施封锁,全球网约车行业陷入停滞。</blockquote></p><p> For 2020, Didi reported revenue of 141.7 billion yuan ($22.17 billion), down from 154.8 billion yuan a year earlier. Net loss stood at 10.6 billion yuan in 2020, compared with 9.7 billion yuan a year earlier.</p><p><blockquote>2020年,滴滴公布的营收为1417亿元人民币(221.7亿美元),低于上年同期的1548亿元人民币。2020年净亏损为106亿元,上年同期为97亿元。</blockquote></p><p> However, Didi started 2021 strongly, as businesses reopened in China. Revenue more than doubled to 42.2 billion yuan (US$6.4 billion) for the three months ended March 31 from 20.5 billion yuan a year earlier.</p><p><blockquote>然而,随着中国业务的重新开业,滴滴在2021年开局强劲。截至3月31日的三个月,收入从去年同期的205亿元人民币增长了一倍多,达到422亿元人民币(64亿美元)。</blockquote></p><p> CHINESE IPO GOLD RUSH</p><p><blockquote>中国IPO淘金热</blockquote></p><p> Didi confidentially filed for its IPO in April. A source familiar with the matter on Thursday said Didi was aiming to go public in July.</p><p><blockquote>滴滴于四月份秘密申请IPO。一位知情人士周四表示,滴滴计划于7月上市。</blockquote></p><p> The mega IPO highlights the lucrative business opportunity presented by Asian tech giants for Wall Street’s big investment banks.</p><p><blockquote>此次大型IPO凸显了亚洲科技巨头为华尔街大型投资银行带来的利润丰厚的商机。</blockquote></p><p> Earlier this year, Singapore’s biggest ride-hailing firm, Grab, struck a $40 billion deal with a special purpose acquisition company, backed by investment firm Altimeter, to go public in the United States.</p><p><blockquote>今年早些时候,新加坡最大的网约车公司Grab与一家由投资公司Altimeter支持的特殊目的收购公司达成了400亿美元的交易,在美国上市。</blockquote></p><p> Last year, Chinese companies raised $12 billion from U.S. listings, more than triple the fundraising amount in 2019, according to Refinitiv data. This year, the raise from Chinese floats on U.S. exchanges is expected to comfortably surpass last year’s tally.</p><p><blockquote>根据Refinitiv的数据,去年,中国公司在美国上市融资120亿美元,是2019年融资额的三倍多。今年,中国在美国交易所的流通量预计将轻松超过去年。</blockquote></p><p> Didi, which merged with then main rival Kuaidi in 2015 to create a smartphone-based transport services giant, counts as its core business a mobile app, where users can hail taxis, privately owned cars, car-pool options and even buses in some cities.</p><p><blockquote>滴滴于2015年与当时的主要竞争对手快的合并,创建了一家基于智能手机的交通服务巨头,其核心业务是移动应用程序,用户可以在其中叫出租车、私家车、拼车选项,甚至在一些城市叫公交车。</blockquote></p><p> Didi plans to list American Depositary Shares (ADSs) on either Nasdaq or the New York Stock Exchange under the symbol \"DIDI\", the company said. (bit.ly/2RGjK0s)</p><p><blockquote>滴滴表示,计划在纳斯达克或纽约证券交易所上市美国存托股票(ADS),代码为“DIDI”。(bit.ly/2RGjK0s)</blockquote></p><p> Didi Chief Executive Cheng Wei said last year the firm aims to have 800 million monthly active users globally and complete 100 million orders a day by 2022, including ride-sharing, bike and food delivery orders.</p><p><blockquote>滴滴首席执行官程维去年表示,该公司的目标是到2022年在全球拥有8亿月活跃用户,每天完成1亿个订单,包括拼车、自行车和食品配送订单。</blockquote></p><p> Goldman Sachs, Morgan Stanley and J.P.Morgan are the lead underwriters for the offering.</p><p><blockquote>高盛、摩根士丹利和摩根大通是此次发行的主承销商。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.reuters.com/article/didi-ipo/update-2-chinas-didi-reveals-u-s-ipo-filing-sets-stage-for-blockbuster-new-york-float-idUSL3N2NS42U\">reuters</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIDI":"滴滴(已退市)","UBER":"优步"},"source_url":"https://www.reuters.com/article/didi-ipo/update-2-chinas-didi-reveals-u-s-ipo-filing-sets-stage-for-blockbuster-new-york-float-idUSL3N2NS42U","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152704038","content_text":"(Reuters) -Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a U.S. stock market listing, setting the stage for what is expected to be the world’s biggest initial public offering this year.\nThe company - backed by Asia’s largest technology investment firms, SoftBank, Alibaba and Tencent - did not reveal the size of the offering, but sources familiar with the matter had previously told Reuters that the ride-hailing giant could raise around $10 billion and seek a valuation of close to $100 billion.\nAt that valuation, Didi’s stock market flotation would be the biggest Chinese share offering in the United States, since Alibaba raised $25 billion in its blockbuster IPO in 2014.\nIn its filing on Thursday, Didi revealed slower revenue growth in 2020 due to the impact of the COVID-19 pandemic, which grounded the global ride-hailing industry to a halt as lockdowns were enforced all over the globe.\nFor 2020, Didi reported revenue of 141.7 billion yuan ($22.17 billion), down from 154.8 billion yuan a year earlier. Net loss stood at 10.6 billion yuan in 2020, compared with 9.7 billion yuan a year earlier.\nHowever, Didi started 2021 strongly, as businesses reopened in China. Revenue more than doubled to 42.2 billion yuan (US$6.4 billion) for the three months ended March 31 from 20.5 billion yuan a year earlier.\nCHINESE IPO GOLD RUSH\nDidi confidentially filed for its IPO in April. A source familiar with the matter on Thursday said Didi was aiming to go public in July.\nThe mega IPO highlights the lucrative business opportunity presented by Asian tech giants for Wall Street’s big investment banks.\nEarlier this year, Singapore’s biggest ride-hailing firm, Grab, struck a $40 billion deal with a special purpose acquisition company, backed by investment firm Altimeter, to go public in the United States.\nLast year, Chinese companies raised $12 billion from U.S. listings, more than triple the fundraising amount in 2019, according to Refinitiv data. This year, the raise from Chinese floats on U.S. exchanges is expected to comfortably surpass last year’s tally.\nDidi, which merged with then main rival Kuaidi in 2015 to create a smartphone-based transport services giant, counts as its core business a mobile app, where users can hail taxis, privately owned cars, car-pool options and even buses in some cities.\nDidi plans to list American Depositary Shares (ADSs) on either Nasdaq or the New York Stock Exchange under the symbol \"DIDI\", the company said. (bit.ly/2RGjK0s)\nDidi Chief Executive Cheng Wei said last year the firm aims to have 800 million monthly active users globally and complete 100 million orders a day by 2022, including ride-sharing, bike and food delivery orders.\nGoldman Sachs, Morgan Stanley and J.P.Morgan are the lead underwriters for the offering.","news_type":1,"symbols_score_info":{"UBER":0.9,"DIDI":0.9}},"isVote":1,"tweetType":1,"viewCount":1280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180807354,"gmtCreate":1623197216578,"gmtModify":1631891863480,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"🤔","listText":"🤔","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180807354","repostId":"1128909306","repostType":4,"repost":{"id":"1128909306","kind":"news","pubTimestamp":1623193560,"share":"https://www.laohu8.com/m/news/1128909306?lang=zh_CN&edition=full","pubTime":"2021-06-09 07:06","market":"us","language":"en","title":"S&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势,标普500收盘变化不大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128909306","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of c","content":"<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约(路透社)-华尔街股市周二难以勉强维持收盘涨幅,因为缺乏明确的市场催化剂使机构投资者保持观望,而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束,标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳,其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示:“我们正在等待通胀数据,等待(美联储)的更多数据,等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道:“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振,表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首,飙升85.8%,成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票,包括游戏驿站公司、Bed Bath&Beyond Inc、Workhorse Group等,收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说:“(模因股票)是行动所在,但你把它翻过来,看起来像加密货币,那就一团糟了。”“现在,模因股票正在取代加密货币成为热门,这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺,尽管需求复苏,这可能会给工资带来上行压力,这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索,以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点,或0.09%,报34,599.82点;标普500上涨0.74点,涨幅0.02%,至4,227.26点;纳斯达克综合指数上涨43.19点,涨幅0.31%,至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中,非必需消费品涨幅最大,公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据,特斯拉公司5月份中国制造的电动汽车销量猛增29%,同比增长177%。受此消息影响,该股抹去了最初的涨幅,收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机,提振了波音公司股价,但该飞机制造商股价回吐涨幅,收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司,预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1;在纳斯达克,1.66比1的比率有利于上涨者。</blockquote></p><p>The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低;纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股,而过去20个交易日的平均成交量为107.5亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势,标普500收盘变化不大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-06-09 07:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约(路透社)-华尔街股市周二难以勉强维持收盘涨幅,因为缺乏明确的市场催化剂使机构投资者保持观望,而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束,标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳,其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示:“我们正在等待通胀数据,等待(美联储)的更多数据,等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道:“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振,表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首,飙升85.8%,成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票,包括游戏驿站公司、Bed Bath&Beyond Inc、Workhorse Group等,收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说:“(模因股票)是行动所在,但你把它翻过来,看起来像加密货币,那就一团糟了。”“现在,模因股票正在取代加密货币成为热门,这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺,尽管需求复苏,这可能会给工资带来上行压力,这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索,以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点,或0.09%,报34,599.82点;标普500上涨0.74点,涨幅0.02%,至4,227.26点;纳斯达克综合指数上涨43.19点,涨幅0.31%,至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中,非必需消费品涨幅最大,公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据,特斯拉公司5月份中国制造的电动汽车销量猛增29%,同比增长177%。受此消息影响,该股抹去了最初的涨幅,收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机,提振了波音公司股价,但该飞机制造商股价回吐涨幅,收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司,预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1;在纳斯达克,1.66比1的比率有利于上涨者。</blockquote></p><p>The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低;纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股,而过去20个交易日的平均成交量为107.5亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX\">reuters</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","CLOV":"Clover Health Corp"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128909306","content_text":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":1237,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117937280,"gmtCreate":1623113021840,"gmtModify":1631891863482,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"[666] ","listText":"[666] ","text":"[666]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/117937280","repostId":"1133174841","repostType":2,"isVote":1,"tweetType":1,"viewCount":2929,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114909276,"gmtCreate":1623039852195,"gmtModify":1631891863490,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Great ariticle, would you like to share it?","listText":"//<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Great ariticle, would you like to share it?","text":"//@agoyagi:Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/114909276","repostId":"2141428145","repostType":2,"isVote":1,"tweetType":1,"viewCount":2711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115075318,"gmtCreate":1622944516634,"gmtModify":1631891863491,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"Bull or Bear?","listText":"Bull or Bear?","text":"Bull or Bear?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/115075318","isVote":1,"tweetType":1,"viewCount":1512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116516200,"gmtCreate":1622811344300,"gmtModify":1631891863494,"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576883299034662","idStr":"3576883299034662"},"themes":[],"htmlText":"😂 //<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Why is Palantir considered a meme stock 🤔","listText":"😂 //<a href=\"https://laohu8.com/U/3579932425739623\">@agoyagi</a>:Why is Palantir considered a meme stock 🤔","text":"😂 //@agoyagi:Why is Palantir considered a meme stock 🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/116516200","repostId":"1150102285","repostType":2,"isVote":1,"tweetType":1,"viewCount":1518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}