Good read_老虎社区_美港股上老虎

MonkeyHanny
2021-12-06

Good read

Small-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</blockquote>

The emergence of the Covid-19 Omicron variant has pummeled small-cap stocks. The Russell 2000 bench

Small-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</blockquote>

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":608211820,"tweetId":"608211820","gmtCreate":1638747790429,"gmtModify":1638747790429,"author":{"id":4101341862315350,"idStr":"4101341862315350","authorId":4101341862315350,"authorIdStr":"4101341862315350","name":"MonkeyHanny","avatar":"https://static.tigerbbs.com/33996281cfffd3b95343db431aed25d9","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":9,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Good read</body></html>","htmlText":"<html><head></head><body>Good read</body></html>","text":"Good read","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/608211820","repostId":1181814813,"repostType":4,"repost":{"id":"1181814813","kind":"news","pubTimestamp":1638746934,"share":"https://www.laohu8.com/m/news/1181814813?lang=zh_CN&edition=full","pubTime":"2021-12-06 07:28","market":"us","language":"en","title":"Small-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181814813","media":"The Wall Street Journal","summary":"The emergence of the Covid-19 Omicron variant has pummeled small-cap stocks.\n\nThe Russell 2000 bench","content":"The emergence of the Covid-19 Omicron variant has pummeled small-cap stocks.<blockquote>Covid-19奥密克戎变种的出现重创了小盘股。</blockquote> The Russell 2000 benchmark has dropped 7.4% since Thanksgiving, when the fast-spreading new variant made headlines. Last week, the index fell into a correction, declining more than 10% from its November record. The S&amp;P 500 large-cap index, by comparison, has shed 3.5% since the variant news.<blockquote>自感恩节以来，罗素2000基准指数已下跌7.4%，当时这种快速传播的新变种成为头条新闻。上周，该指数陷入回调，较11月纪录下跌逾10%。相比之下，自该消息发布以来，标普500大盘股指数已下跌3.5%。</blockquote> The losses have hit across the U.S. small-cap market, with shares of financial, technology, healthcare and energy companies falling. The biggest losers in the Russell 2000 over that period include several pharmaceutical and biotechnology stocks, which often experience big swings as a result of clinical data or regulatory decisions, as well as software and retail stocks that fell after earnings reports.<blockquote>损失波及整个美国小盘股市场，金融、科技、医疗保健和能源公司的股价下跌。在此期间，罗素2000指数中跌幅最大的包括几只制药和生物技术股票，这些股票经常因临床数据或监管决定而经历大幅波动，以及在财报发布后下跌的软件和零售股票。</blockquote> Also hit: restaurants and in-person entertainment businesses where consumers may be concerned about virus exposure. Shares of restaurant chain Cheesecake Factory Inc., have fallen 6% since the variant news; SeaWorld Entertainment Inc. shares have lost 10%; and Dave &amp; Buster’s Entertainment Inc. shares have slumped 17%.<blockquote>同样受到打击的还有：消费者可能担心接触病毒的餐馆和现场娱乐企业。自这一消息传出以来，连锁餐厅Cheesecake Factory Inc.的股价已下跌6%；海洋世界娱乐公司(SeaWorld Entertainment Inc.)股价下跌10%；Dave&amp;Buster's Entertainment Inc.股价下跌17%。</blockquote> The retreat of small-caps shows how vulnerable the market is to swift reversals as the Covid-19 pandemic continues. Just weeks ago, the stock market as a whole and small-caps in particular were reaching all-time highs. Now, the appearance of Omicron has served as an unwelcome reminder that sudden changes in government rules or consumer behavior are still on the table, scrambling trading and market forecasts.<blockquote>小盘股的回落表明，随着Covid-19大流行的持续，市场是多么容易受到迅速逆转的影响。就在几周前，整个股市，尤其是小盘股，还创下了历史新高。现在，奥密克戎的出现不受欢迎地提醒人们，政府规则或消费者行为的突然变化仍然摆在桌面上，扰乱了交易和市场预测。</blockquote> Small-cap stocks are one group that could be particularly vulnerable to people deciding to stay home or authorities renewing lockdowns, as they had in parts of Europe even before Omicron arrived. Smaller companies tend to have less diversified lines of business than their larger peers, making small-cap stocks a riskier bet in times of economic uncertainty.<blockquote>小盘股是一个可能特别容易受到人们决定呆在家里或当局延长封锁的影响的群体，就像奥密克戎到来之前欧洲部分地区的情况一样。与大公司相比，小公司的业务多元化程度往往较低，这使得小盘股在经济不确定时期成为风险更高的赌注。</blockquote> “Generally speaking, small-caps aren’t as well equipped to weather the storm as large-caps,” said Tim Skiendzielewski, a portfolio manager of the Aberdeen U.S. Small Cap Equity Fund.<blockquote>“一般来说，小盘股不如大盘股有能力抵御风暴，”安本美国小盘股基金的投资组合经理Tim Skiendzielewski表示。</blockquote> In November, small-cap stocks were outpacing shares of larger companies as concerns about rising inflation prompted investors to bet on businesses they hoped could respond quickly by raising their own prices.<blockquote>11月份，由于对通胀上升的担忧促使投资者押注于他们希望能够通过提高自身价格来迅速做出反应的企业，小盘股的涨幅超过了大型公司的股票。</blockquote> On Nov. 26, the first U.S. trading session after the Omicron variant reports, the Russell 2000 index fell 3.7% in its worst day since February.<blockquote>11月26日，即奥密克戎变种报告发布后的第一个美国交易日，Russell 2000指数下跌3.7%，创下2月份以来最糟糕的一天。</blockquote> A week of tumultuous trading followed, with both the small-cap index and S&amp;P 500 posting big moves in both directions. Investors this week will watch to see if the streak of volatility continues. They also will monitor signs of consumer demand in earnings reports from auto-parts retailer AutoZone Inc., food maker Campbell Soup Co. and whiskey maker Brown-Forman Corp.<blockquote>接下来是动荡的一周交易，小盘股指数和标普500指数双双大幅波动。本周投资者将关注连续波动是否会持续。他们还将监测汽车零部件零售商AutoZone Inc.、食品制造商Campbell Soup Co.和威士忌制造商Brown-Forman Corp.的收益报告中的消费者需求迹象。</blockquote> Earlier chapters of the pandemic have been marked by big performance gaps between large-cap and small-cap stocks. During the pandemic-driven selloff of early 2020, the Russell 2000 slumped further than the S&amp;P 500. Later that year, promising trials of Covid-19 vaccines raised expectations for the economic recovery and helped propel a period of small-cap leadership.<blockquote>在疫情的早期，大盘股和小盘股之间的表现差距很大。在2020年初大流行引发的抛售期间，罗素2000指数的跌幅超过了标普500。当年晚些时候，有希望的Covid-19疫苗试验提高了人们对经济复苏的预期，并帮助推动了小盘股的领先地位。</blockquote> The arrival of the Omicron variant, which the World Health Organization has said might be more transmissible than other coronavirus strains, reminded the market of the pandemic’s continued influence on the economy. The Biden administration last week said it would be tightening Covid-19 testing timelines for travelers flying into the U.S. but didn’t go as far to suggest the return of lockdowns and mandates from the pandemic’s earlier days.<blockquote>世界卫生组织表示，奥密克戎变种的传播性可能比其他冠状病毒株更强，它的到来提醒市场注意大流行对经济的持续影响。拜登政府上周表示，将收紧飞往美国的旅客的Covid-19检测时间表，但并未暗示将恢复疫情早期的封锁和强制措施。</blockquote> Some small-cap money managers say investors overreacted in the recent drawdown, and they may come back to small-caps sooner rather than later.<blockquote>一些小盘股基金经理表示，投资者在最近的下跌中反应过度，他们可能会尽快回归小盘股。</blockquote> “If the market perceives that risks are being removed and we’re getting through Covid, they’ll tend to look at smaller companies that have the opportunity to outperform with maybe a single product or a single service,” said James Gowen, chief investment officer for small-cap equities at Spouting Rock Asset Management.<blockquote>首席执行官詹姆斯·戈恩(James Gowen)表示：“如果市场认为风险正在消除，我们正在度过新冠疫情，他们将倾向于关注那些有机会通过单一产品或单一服务跑赢大盘的小公司。”Spouting Rock资产管理公司小型股投资官。</blockquote> Money managers point to strong earnings growth that is expected to continue. Analysts expect that profits from Russell 2000 companies will grow 170% in the fourth quarter from a year earlier, compared with 22% profit growth for S&amp;P 500 companies, according to I/B/E/S data from Refinitiv.<blockquote>基金经理指出，强劲的盈利增长预计将持续下去。根据Refinitiv的I/B/E/S数据，分析师预计，第四季度Russell 2000公司的利润将同比增长170%，而标普500公司的利润增长为22%。</blockquote> The continuing economic recovery should fuel small-cap performance, they say.<blockquote>他们表示，持续的经济复苏应该会提振小盘股的表现。</blockquote> “I think the fundamentals in the small-cap space are much better than the market is perceiving,” said Bill Costello, senior portfolio manager at Westwood Holdings Group, who co-manages a small-cap fund.<blockquote>Westwood Holdings Group高级投资组合经理比尔·科斯特洛(Bill Costello)表示：“我认为小盘股领域的基本面比市场想象的要好得多。”他共同管理着一只小盘股基金。</blockquote>","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>Small-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</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\">\nSmall-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nThe Wall Street Journal2021-12-06 07:28\n\n</h4>\n</header>\n<article>\nThe emergence of the Covid-19 Omicron variant has pummeled small-cap stocks.<blockquote>Covid-19奥密克戎变种的出现重创了小盘股。</blockquote> The Russell 2000 benchmark has dropped 7.4% since Thanksgiving, when the fast-spreading new variant made headlines. Last week, the index fell into a correction, declining more than 10% from its November record. The S&amp;P 500 large-cap index, by comparison, has shed 3.5% since the variant news.<blockquote>自感恩节以来，罗素2000基准指数已下跌7.4%，当时这种快速传播的新变种成为头条新闻。上周，该指数陷入回调，较11月纪录下跌逾10%。相比之下，自该消息发布以来，标普500大盘股指数已下跌3.5%。</blockquote> The losses have hit across the U.S. small-cap market, with shares of financial, technology, healthcare and energy companies falling. The biggest losers in the Russell 2000 over that period include several pharmaceutical and biotechnology stocks, which often experience big swings as a result of clinical data or regulatory decisions, as well as software and retail stocks that fell after earnings reports.<blockquote>损失波及整个美国小盘股市场，金融、科技、医疗保健和能源公司的股价下跌。在此期间，罗素2000指数中跌幅最大的包括几只制药和生物技术股票，这些股票经常因临床数据或监管决定而经历大幅波动，以及在财报发布后下跌的软件和零售股票。</blockquote> Also hit: restaurants and in-person entertainment businesses where consumers may be concerned about virus exposure. Shares of restaurant chain Cheesecake Factory Inc., have fallen 6% since the variant news; SeaWorld Entertainment Inc. shares have lost 10%; and Dave &amp; Buster’s Entertainment Inc. shares have slumped 17%.<blockquote>同样受到打击的还有：消费者可能担心接触病毒的餐馆和现场娱乐企业。自这一消息传出以来，连锁餐厅Cheesecake Factory Inc.的股价已下跌6%；海洋世界娱乐公司(SeaWorld Entertainment Inc.)股价下跌10%；Dave&amp;Buster's Entertainment Inc.股价下跌17%。</blockquote> The retreat of small-caps shows how vulnerable the market is to swift reversals as the Covid-19 pandemic continues. Just weeks ago, the stock market as a whole and small-caps in particular were reaching all-time highs. Now, the appearance of Omicron has served as an unwelcome reminder that sudden changes in government rules or consumer behavior are still on the table, scrambling trading and market forecasts.<blockquote>小盘股的回落表明，随着Covid-19大流行的持续，市场是多么容易受到迅速逆转的影响。就在几周前，整个股市，尤其是小盘股，还创下了历史新高。现在，奥密克戎的出现不受欢迎地提醒人们，政府规则或消费者行为的突然变化仍然摆在桌面上，扰乱了交易和市场预测。</blockquote> Small-cap stocks are one group that could be particularly vulnerable to people deciding to stay home or authorities renewing lockdowns, as they had in parts of Europe even before Omicron arrived. Smaller companies tend to have less diversified lines of business than their larger peers, making small-cap stocks a riskier bet in times of economic uncertainty.<blockquote>小盘股是一个可能特别容易受到人们决定呆在家里或当局延长封锁的影响的群体，就像奥密克戎到来之前欧洲部分地区的情况一样。与大公司相比，小公司的业务多元化程度往往较低，这使得小盘股在经济不确定时期成为风险更高的赌注。</blockquote> “Generally speaking, small-caps aren’t as well equipped to weather the storm as large-caps,” said Tim Skiendzielewski, a portfolio manager of the Aberdeen U.S. Small Cap Equity Fund.<blockquote>“一般来说，小盘股不如大盘股有能力抵御风暴，”安本美国小盘股基金的投资组合经理Tim Skiendzielewski表示。</blockquote> In November, small-cap stocks were outpacing shares of larger companies as concerns about rising inflation prompted investors to bet on businesses they hoped could respond quickly by raising their own prices.<blockquote>11月份，由于对通胀上升的担忧促使投资者押注于他们希望能够通过提高自身价格来迅速做出反应的企业，小盘股的涨幅超过了大型公司的股票。</blockquote> On Nov. 26, the first U.S. trading session after the Omicron variant reports, the Russell 2000 index fell 3.7% in its worst day since February.<blockquote>11月26日，即奥密克戎变种报告发布后的第一个美国交易日，Russell 2000指数下跌3.7%，创下2月份以来最糟糕的一天。</blockquote> A week of tumultuous trading followed, with both the small-cap index and S&amp;P 500 posting big moves in both directions. Investors this week will watch to see if the streak of volatility continues. They also will monitor signs of consumer demand in earnings reports from auto-parts retailer AutoZone Inc., food maker Campbell Soup Co. and whiskey maker Brown-Forman Corp.<blockquote>接下来是动荡的一周交易，小盘股指数和标普500指数双双大幅波动。本周投资者将关注连续波动是否会持续。他们还将监测汽车零部件零售商AutoZone Inc.、食品制造商Campbell Soup Co.和威士忌制造商Brown-Forman Corp.的收益报告中的消费者需求迹象。</blockquote> Earlier chapters of the pandemic have been marked by big performance gaps between large-cap and small-cap stocks. During the pandemic-driven selloff of early 2020, the Russell 2000 slumped further than the S&amp;P 500. Later that year, promising trials of Covid-19 vaccines raised expectations for the economic recovery and helped propel a period of small-cap leadership.<blockquote>在疫情的早期，大盘股和小盘股之间的表现差距很大。在2020年初大流行引发的抛售期间，罗素2000指数的跌幅超过了标普500。当年晚些时候，有希望的Covid-19疫苗试验提高了人们对经济复苏的预期，并帮助推动了小盘股的领先地位。</blockquote> The arrival of the Omicron variant, which the World Health Organization has said might be more transmissible than other coronavirus strains, reminded the market of the pandemic’s continued influence on the economy. The Biden administration last week said it would be tightening Covid-19 testing timelines for travelers flying into the U.S. but didn’t go as far to suggest the return of lockdowns and mandates from the pandemic’s earlier days.<blockquote>世界卫生组织表示，奥密克戎变种的传播性可能比其他冠状病毒株更强，它的到来提醒市场注意大流行对经济的持续影响。拜登政府上周表示，将收紧飞往美国的旅客的Covid-19检测时间表，但并未暗示将恢复疫情早期的封锁和强制措施。</blockquote> Some small-cap money managers say investors overreacted in the recent drawdown, and they may come back to small-caps sooner rather than later.<blockquote>一些小盘股基金经理表示，投资者在最近的下跌中反应过度，他们可能会尽快回归小盘股。</blockquote> “If the market perceives that risks are being removed and we’re getting through Covid, they’ll tend to look at smaller companies that have the opportunity to outperform with maybe a single product or a single service,” said James Gowen, chief investment officer for small-cap equities at Spouting Rock Asset Management.<blockquote>首席执行官詹姆斯·戈恩(James Gowen)表示：“如果市场认为风险正在消除，我们正在度过新冠疫情，他们将倾向于关注那些有机会通过单一产品或单一服务跑赢大盘的小公司。”Spouting Rock资产管理公司小型股投资官。</blockquote> Money managers point to strong earnings growth that is expected to continue. Analysts expect that profits from Russell 2000 companies will grow 170% in the fourth quarter from a year earlier, compared with 22% profit growth for S&amp;P 500 companies, according to I/B/E/S data from Refinitiv.<blockquote>基金经理指出，强劲的盈利增长预计将持续下去。根据Refinitiv的I/B/E/S数据，分析师预计，第四季度Russell 2000公司的利润将同比增长170%，而标普500公司的利润增长为22%。</blockquote> The continuing economic recovery should fuel small-cap performance, they say.<blockquote>他们表示，持续的经济复苏应该会提振小盘股的表现。</blockquote> “I think the fundamentals in the small-cap space are much better than the market is perceiving,” said Bill Costello, senior portfolio manager at Westwood Holdings Group, who co-manages a small-cap fund.<blockquote>Westwood Holdings Group高级投资组合经理比尔·科斯特洛(Bill Costello)表示：“我认为小盘股领域的基本面比市场想象的要好得多。”他共同管理着一只小盘股基金。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.wsj.com/articles/small-cap-stocks-hit-hard-by-covid-19-omicron-variant-11638712281?mod=hp_lead_pos1\">The Wall Street Journal</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/small-cap-stocks-hit-hard-by-covid-19-omicron-variant-11638712281?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181814813","content_text":"The emergence of the Covid-19 Omicron variant has pummeled small-cap stocks.\n\nThe Russell 2000 benchmark has dropped 7.4% since Thanksgiving, when the fast-spreading new variant made headlines. Last week, the index fell into a correction, declining more than 10% from its November record. The S&P 500 large-cap index, by comparison, has shed 3.5% since the variant news.\n\n\nThe losses have hit across the U.S. small-cap market, with shares of financial, technology, healthcare and energy companies falling. The biggest losers in the Russell 2000 over that period include several pharmaceutical and biotechnology stocks, which often experience big swings as a result of clinical data or regulatory decisions, as well as software and retail stocks that fell after earnings reports.\n\nAlso hit: restaurants and in-person entertainment businesses where consumers may be concerned about virus exposure. Shares of restaurant chain Cheesecake Factory Inc., have fallen 6% since the variant news; SeaWorld Entertainment Inc. shares have lost 10%; and Dave & Buster’s Entertainment Inc. shares have slumped 17%.\n\nThe retreat of small-caps shows how vulnerable the market is to swift reversals as the Covid-19 pandemic continues. Just weeks ago, the stock market as a whole and small-caps in particular were reaching all-time highs. Now, the appearance of Omicron has served as an unwelcome reminder that sudden changes in government rules or consumer behavior are still on the table, scrambling trading and market forecasts.\n\n\nSmall-cap stocks are one group that could be particularly vulnerable to people deciding to stay home or authorities renewing lockdowns, as they had in parts of Europe even before Omicron arrived. Smaller companies tend to have less diversified lines of business than their larger peers, making small-cap stocks a riskier bet in times of economic uncertainty.\n\n“Generally speaking, small-caps aren’t as well equipped to weather the storm as large-caps,” said Tim Skiendzielewski, a portfolio manager of the Aberdeen U.S. Small Cap Equity Fund.\n\nIn November, small-cap stocks were outpacing shares of larger companies as concerns about rising inflation prompted investors to bet on businesses they hoped could respond quickly by raising their own prices.\n\nOn Nov. 26, the first U.S. trading session after the Omicron variant reports, the Russell 2000 index fell 3.7% in its worst day since February.\n\nA week of tumultuous trading followed, with both the small-cap index and S&P 500 posting big moves in both directions. Investors this week will watch to see if the streak of volatility continues. They also will monitor signs of consumer demand in earnings reports from auto-parts retailer AutoZone Inc., food maker Campbell Soup Co. and whiskey maker Brown-Forman Corp.\n\nEarlier chapters of the pandemic have been marked by big performance gaps between large-cap and small-cap stocks. During the pandemic-driven selloff of early 2020, the Russell 2000 slumped further than the S&P 500. Later that year, promising trials of Covid-19 vaccines raised expectations for the economic recovery and helped propel a period of small-cap leadership.\n\n\nThe arrival of the Omicron variant, which the World Health Organization has said might be more transmissible than other coronavirus strains, reminded the market of the pandemic’s continued influence on the economy. The Biden administration last week said it would be tightening Covid-19 testing timelines for travelers flying into the U.S. but didn’t go as far to suggest the return of lockdowns and mandates from the pandemic’s earlier days.\nSome small-cap money managers say investors overreacted in the recent drawdown, and they may come back to small-caps sooner rather than later.\n\n“If the market perceives that risks are being removed and we’re getting through Covid, they’ll tend to look at smaller companies that have the opportunity to outperform with maybe a single product or a single service,” said James Gowen, chief investment officer for small-cap equities at Spouting Rock Asset Management.\n\n\nMoney managers point to strong earnings growth that is expected to continue. Analysts expect that profits from Russell 2000 companies will grow 170% in the fourth quarter from a year earlier, compared with 22% profit growth for S&P 500 companies, according to I/B/E/S data from Refinitiv.\n\nThe continuing economic recovery should fuel small-cap performance, they say.\n\n\n“I think the fundamentals in the small-cap space are much better than the market is perceiving,” said Bill Costello, senior portfolio manager at Westwood Holdings Group, who co-manages a small-cap fund.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2507,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Small-Cap Stocks Hit Hard by Covid-19 Omicron Variant<blockquote>小盘股受到Covid-19奥密克戎变种的重创</blockquote>

评论（1）

热议股票