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2021-04-12

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‘Don’t fight the Fed,’ Goldman says. These stocks can benefit from higher inflation<blockquote>高盛说，不要和美联储作对。这些股票可以受益于更高的通胀</blockquote>

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These stocks can benefit from higher inflation<blockquote>高盛说，不要和美联储作对。这些股票可以受益于更高的通胀</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143734305","media":"MarketWatch","summary":"Critical information for the trading day.\n\nU.S. stocks look set to start Monday on the back foot ahe","content":" Critical information for the trading day. U.S. stocks look set to start Monday on the back foot ahead of key inflation data and earnings reports later in the week.<blockquote>交易日的关键信息。在本周晚些时候公布关键通胀数据和收益报告之前，美国股市周一开盘似乎将处于不利地位。</blockquote> Fears over rising COVID-19 cases and vaccination problems, after a Chinese government official said theeffectiveness of its vaccines was low, has put equity markets under pressure.<blockquote>在一名中国政府官员表示其疫苗有效性较低后，对COVID-19病例增加和疫苗接种问题的担忧给股市带来了压力。</blockquote> However, the partial reopening of the U.K. and upbeat comments from Federal Reserve Chair Jerome Powell provided some positivity. Investors will also be awaiting consumer price data on Tuesday and earnings from major banks JPMorgan Chase, Goldman Sachs and Wells Fargo later this week.<blockquote>然而，英国部分重新开放以及美联储主席杰罗姆·鲍威尔的乐观言论提供了一些积极因素。投资者还将等待周二的消费者价格数据以及本周晚些时候摩根大通、高盛和富国银行的财报。</blockquote> After a delay on Friday, the U.S. Labor Department said the producer-price index, a key measure of inflation, rose 1% in March — the biggest annual increase since 2011.<blockquote>周五推迟后，美国劳工部表示，衡量通胀的关键指标生产者价格指数3月份上涨1%，为2011年以来最大年度涨幅。</blockquote> In ourcall of the day, Goldman Sachs strategists said higher inflation was on the cards in the coming months, which could boost companies with high pricing power.<blockquote>在我们的今日看涨期权，高盛策略师表示，未来几个月通胀可能会走高，这可能会提振具有高定价能力的公司。</blockquote> “‘Don’t fight the Fed’ is a quip investors have learned to ignore at their peril. What the central bank wants is usually what it gets, sooner or later,” the strategists said, noting that the Fed’s intervention a year ago sparked the 80% rally that has lifted the S&amp;P 500SPXto an all-time high. The index has rallied 10% year-to-date and now trades at Goldman’s midyear target of 4,100 — the bank’s end-year target implies a gain of 5%.<blockquote>“‘不要与美联储对抗’是投资者已经学会忽视的一句俏皮话，后果自负。央行想要的通常是迟早会得到的，”策略师们表示，并指出美联储一年前的干预引发了80%的上涨，将标准普尔500SPX指数推升至历史新高。该指数今年迄今已上涨10%，目前交易价格为高盛的年中目标4,100点——该行的年终目标意味着上涨5%。</blockquote> The Fed now wants higher inflation, they said. The investment bank’s economics team expected inflation readings to climb in the coming months, peaking at 2.3% in April, before sitting below 2% until 2023.<blockquote>他们表示，美联储现在希望通胀上升。该投资银行的经济团队预计通胀数据将在未来几个月攀升，4月份达到2.3%的峰值，然后在2023年之前一直低于2%。</blockquote> When it comes to the impact on stocks, Goldman said it was all about margins, adding that some companies were protecting margins by passing higher costs along to their consumers.<blockquote>当谈到对股市的影响时，高盛表示，这一切都与利润率有关，并补充说，一些公司通过将更高的成本转嫁给消费者来保护利润率。</blockquote> The strategists, led by David Kostin, said companies with low pricing power have historically outperformed when S&amp;P 500 profit margins are expanding. In contrast, companies with high pricing power have “sharply lagged” during the past year. However, rising inflation could mean that is about to change, and companies with high pricing power are set to benefit, the strategists said.<blockquote>以David Kostin为首的策略师表示，从历史上看，当标普500利润率扩大时，定价能力较低的公司的表现会优于大盘。相比之下，具有高定价权的公司在过去一年中“大幅落后”。然而，策略师表示，通胀上升可能意味着这种情况即将改变，具有高定价权的公司将受益。</blockquote> Goldman screened for stocks with high pricing power — high and stable gross margins relative to sector peers. The screen produced 55 stocks, including videogames company Activision BlizzardATVI,tobacco giant Philip MorrisPM,consumer-goods companies Colgate-PalmoliveCLand Procter &amp; GamblePG,and drug manufacturer ZoetisZTS.Technology companies, such as Aspen TechnologyAZPN,AdobeADBEand OracleORCL,and retailers EtsyETSYand Dollar GeneralDGalso featured.<blockquote>高盛筛选了具有高定价能力的股票——相对于行业同行，毛利率高且稳定。屏幕上出现了55只股票，包括视频游戏公司动视暴雪ATVI、烟草巨头菲利普莫里斯PM、消费品公司高露洁棕榄和宝洁PG以及药品制造商ZoetisZTS。Aspen TechnologyAZPN、AdobeADBED和OracleORCL等科技公司以及零售商EtsyETSY和Dollar GeneralDGALS也亮相。</blockquote> Separately, with first-quarter earnings seasons getting under way next week, Goldman expected aggregated sales growth of 5% and earnings per share (EPS) growth of 19%. But that won’t matter much, its strategists added. “The trajectory of the economic recovery will continue to make backward-looking metrics less relevant for the forward-looking market,” they said.<blockquote>另外，随着第一季度财报季下周开始，高盛预计总销售额增长5%，每股收益(EPS)增长19%。但其策略师补充说，这并不重要。他们表示：“经济复苏的轨迹将继续使回顾性指标与前瞻性市场的相关性降低。”</blockquote> The next issue dominating investor discussions is President Joe Biden’s plan to boost corporate tax to 28%, Goldman said. The full adoption of Biden’s proposals would see 2022 annual S&amp;P 500 EPS growth of 12% fall to just 5%, they added.<blockquote>高盛表示，主导投资者讨论的下一个问题是乔·拜登总统将公司税提高至28%的计划。他们补充说，如果拜登的提议得到全面采纳，标普500 2022年每股收益年增长率将从12%降至仅5%。</blockquote> The tweet<blockquote>推特</blockquote> Higher producer prices are positively linked to S&amp;P 500 earnings, according to this chart from Jeroen Blokland, senior portfolio manager at Robeco Asset Management.<blockquote>荷宝资产管理公司高级投资组合经理Jeroen Blokland的这张图表显示，生产者价格上涨与标普500盈利呈正相关。</blockquote> <img src=\"https://static.tigerbbs.com/ff49fe03ef2d0536dd91ba494eba5e5c\" tg-width=\"413\" tg-height=\"445\">The markets<blockquote>市场</blockquote> U.S. stock futuresES00NQ00pointed lower early on Monday, with Dow futuresYM00implying a 40-point loss for the Dow Jones Industrial AverageDJIAat the open. European stocks alsonudged lowerin early trading, while Asian markets slipped overnight as investors monitoredrising coronavirus casesand slow vaccination rollouts.<blockquote>美国股指期货ES00NQ00周一早盘走低，道指期货YM00意味着道琼斯工业平均指数DJIA开盘下跌40点。欧洲股市早盘也大幅走低，而亚洲股市隔夜下跌，原因是投资者关注冠状病毒病例上升和疫苗接种推广缓慢。</blockquote> The buzz<blockquote>嗡嗡声</blockquote> Powell said“it will be a while”before the central bank taps the brakes on the economy, in an interview on “60 Minutes” on Sunday.<blockquote>鲍威尔周日在接受《60分钟》采访时表示，央行踩下经济刹车“还需要一段时间”。</blockquote> Tech giant MicrosoftMSFTis in advanced talks to buy speech-recognition company Nuance CommunicationsNUANin a deal valued at about $16 billion, according to multiple reports on Sunday.<blockquote>据周日多份报道称，科技巨头微软MSFT正在就收购语音识别公司Nuance CommunicationsNUAN进行深入谈判，交易价值约160亿美元。</blockquote> Pub gardens, hair salons, gyms and nonessential shopswill open in Englandon Monday for the first time since early January, as the U.K. takes the next step on its path to reopening.<blockquote>随着英国在重新开放的道路上迈出下一步，英格兰的酒吧花园、发廊、健身房和非必需品商店将于周一开业，这是自一月初以来的首次。</blockquote> AlibabaHK:9988shares surged 7% in Hong Kong trading after the e-commerce giant wasfined a record $2.8 billion by China’s antitrust watchdog. The company’s American depositary receiptsBABAwere more than 6% higher in premarket trading.<blockquote>阿里巴巴香港：9988这家电子商务巨头被中国反垄断监管机构处以创纪录的28亿美元罚款后，该公司股价在香港交易中飙升7%。该公司的美国存托凭证BABA在盘前交易中上涨超过6%。</blockquote> Italian diagnostic specialist DiaSorinIT:DIAannounced adeal to buy COVID-19 testing kit makerLuminex Corp.LMNXfor around $1.8 billion.<blockquote>意大利诊断专家DiaSorinIT：DIA宣布以约18亿美元收购COVID-19检测试剂盒制造商Luminex Corp.LMNX。</blockquote>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Don’t fight the Fed,’ Goldman says. 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These stocks can benefit from higher inflation<blockquote>高盛说，不要和美联储作对。这些股票可以受益于更高的通胀</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-04-12 21:02\n\n</h4>\n</header>\n<article>\n Critical information for the trading day. U.S. stocks look set to start Monday on the back foot ahead of key inflation data and earnings reports later in the week.<blockquote>交易日的关键信息。在本周晚些时候公布关键通胀数据和收益报告之前，美国股市周一开盘似乎将处于不利地位。</blockquote> Fears over rising COVID-19 cases and vaccination problems, after a Chinese government official said theeffectiveness of its vaccines was low, has put equity markets under pressure.<blockquote>在一名中国政府官员表示其疫苗有效性较低后，对COVID-19病例增加和疫苗接种问题的担忧给股市带来了压力。</blockquote> However, the partial reopening of the U.K. and upbeat comments from Federal Reserve Chair Jerome Powell provided some positivity. Investors will also be awaiting consumer price data on Tuesday and earnings from major banks JPMorgan Chase, Goldman Sachs and Wells Fargo later this week.<blockquote>然而，英国部分重新开放以及美联储主席杰罗姆·鲍威尔的乐观言论提供了一些积极因素。投资者还将等待周二的消费者价格数据以及本周晚些时候摩根大通、高盛和富国银行的财报。</blockquote> After a delay on Friday, the U.S. Labor Department said the producer-price index, a key measure of inflation, rose 1% in March — the biggest annual increase since 2011.<blockquote>周五推迟后，美国劳工部表示，衡量通胀的关键指标生产者价格指数3月份上涨1%，为2011年以来最大年度涨幅。</blockquote> In ourcall of the day, Goldman Sachs strategists said higher inflation was on the cards in the coming months, which could boost companies with high pricing power.<blockquote>在我们的今日看涨期权，高盛策略师表示，未来几个月通胀可能会走高，这可能会提振具有高定价能力的公司。</blockquote> “‘Don’t fight the Fed’ is a quip investors have learned to ignore at their peril. What the central bank wants is usually what it gets, sooner or later,” the strategists said, noting that the Fed’s intervention a year ago sparked the 80% rally that has lifted the S&amp;P 500SPXto an all-time high. The index has rallied 10% year-to-date and now trades at Goldman’s midyear target of 4,100 — the bank’s end-year target implies a gain of 5%.<blockquote>“‘不要与美联储对抗’是投资者已经学会忽视的一句俏皮话，后果自负。央行想要的通常是迟早会得到的，”策略师们表示，并指出美联储一年前的干预引发了80%的上涨，将标准普尔500SPX指数推升至历史新高。该指数今年迄今已上涨10%，目前交易价格为高盛的年中目标4,100点——该行的年终目标意味着上涨5%。</blockquote> The Fed now wants higher inflation, they said. The investment bank’s economics team expected inflation readings to climb in the coming months, peaking at 2.3% in April, before sitting below 2% until 2023.<blockquote>他们表示，美联储现在希望通胀上升。该投资银行的经济团队预计通胀数据将在未来几个月攀升，4月份达到2.3%的峰值，然后在2023年之前一直低于2%。</blockquote> When it comes to the impact on stocks, Goldman said it was all about margins, adding that some companies were protecting margins by passing higher costs along to their consumers.<blockquote>当谈到对股市的影响时，高盛表示，这一切都与利润率有关，并补充说，一些公司通过将更高的成本转嫁给消费者来保护利润率。</blockquote> The strategists, led by David Kostin, said companies with low pricing power have historically outperformed when S&amp;P 500 profit margins are expanding. In contrast, companies with high pricing power have “sharply lagged” during the past year. However, rising inflation could mean that is about to change, and companies with high pricing power are set to benefit, the strategists said.<blockquote>以David Kostin为首的策略师表示，从历史上看，当标普500利润率扩大时，定价能力较低的公司的表现会优于大盘。相比之下，具有高定价权的公司在过去一年中“大幅落后”。然而，策略师表示，通胀上升可能意味着这种情况即将改变，具有高定价权的公司将受益。</blockquote> Goldman screened for stocks with high pricing power — high and stable gross margins relative to sector peers. The screen produced 55 stocks, including videogames company Activision BlizzardATVI,tobacco giant Philip MorrisPM,consumer-goods companies Colgate-PalmoliveCLand Procter &amp; GamblePG,and drug manufacturer ZoetisZTS.Technology companies, such as Aspen TechnologyAZPN,AdobeADBEand OracleORCL,and retailers EtsyETSYand Dollar GeneralDGalso featured.<blockquote>高盛筛选了具有高定价能力的股票——相对于行业同行，毛利率高且稳定。屏幕上出现了55只股票，包括视频游戏公司动视暴雪ATVI、烟草巨头菲利普莫里斯PM、消费品公司高露洁棕榄和宝洁PG以及药品制造商ZoetisZTS。Aspen TechnologyAZPN、AdobeADBED和OracleORCL等科技公司以及零售商EtsyETSY和Dollar GeneralDGALS也亮相。</blockquote> Separately, with first-quarter earnings seasons getting under way next week, Goldman expected aggregated sales growth of 5% and earnings per share (EPS) growth of 19%. But that won’t matter much, its strategists added. “The trajectory of the economic recovery will continue to make backward-looking metrics less relevant for the forward-looking market,” they said.<blockquote>另外，随着第一季度财报季下周开始，高盛预计总销售额增长5%，每股收益(EPS)增长19%。但其策略师补充说，这并不重要。他们表示：“经济复苏的轨迹将继续使回顾性指标与前瞻性市场的相关性降低。”</blockquote> The next issue dominating investor discussions is President Joe Biden’s plan to boost corporate tax to 28%, Goldman said. The full adoption of Biden’s proposals would see 2022 annual S&amp;P 500 EPS growth of 12% fall to just 5%, they added.<blockquote>高盛表示，主导投资者讨论的下一个问题是乔·拜登总统将公司税提高至28%的计划。他们补充说，如果拜登的提议得到全面采纳，标普500 2022年每股收益年增长率将从12%降至仅5%。</blockquote> The tweet<blockquote>推特</blockquote> Higher producer prices are positively linked to S&amp;P 500 earnings, according to this chart from Jeroen Blokland, senior portfolio manager at Robeco Asset Management.<blockquote>荷宝资产管理公司高级投资组合经理Jeroen Blokland的这张图表显示，生产者价格上涨与标普500盈利呈正相关。</blockquote> <img src=\"https://static.tigerbbs.com/ff49fe03ef2d0536dd91ba494eba5e5c\" tg-width=\"413\" tg-height=\"445\">The markets<blockquote>市场</blockquote> U.S. stock futuresES00NQ00pointed lower early on Monday, with Dow futuresYM00implying a 40-point loss for the Dow Jones Industrial AverageDJIAat the open. European stocks alsonudged lowerin early trading, while Asian markets slipped overnight as investors monitoredrising coronavirus casesand slow vaccination rollouts.<blockquote>美国股指期货ES00NQ00周一早盘走低，道指期货YM00意味着道琼斯工业平均指数DJIA开盘下跌40点。欧洲股市早盘也大幅走低，而亚洲股市隔夜下跌，原因是投资者关注冠状病毒病例上升和疫苗接种推广缓慢。</blockquote> The buzz<blockquote>嗡嗡声</blockquote> Powell said“it will be a while”before the central bank taps the brakes on the economy, in an interview on “60 Minutes” on Sunday.<blockquote>鲍威尔周日在接受《60分钟》采访时表示，央行踩下经济刹车“还需要一段时间”。</blockquote> Tech giant MicrosoftMSFTis in advanced talks to buy speech-recognition company Nuance CommunicationsNUANin a deal valued at about $16 billion, according to multiple reports on Sunday.<blockquote>据周日多份报道称，科技巨头微软MSFT正在就收购语音识别公司Nuance CommunicationsNUAN进行深入谈判，交易价值约160亿美元。</blockquote> Pub gardens, hair salons, gyms and nonessential shopswill open in Englandon Monday for the first time since early January, as the U.K. takes the next step on its path to reopening.<blockquote>随着英国在重新开放的道路上迈出下一步，英格兰的酒吧花园、发廊、健身房和非必需品商店将于周一开业，这是自一月初以来的首次。</blockquote> AlibabaHK:9988shares surged 7% in Hong Kong trading after the e-commerce giant wasfined a record $2.8 billion by China’s antitrust watchdog. The company’s American depositary receiptsBABAwere more than 6% higher in premarket trading.<blockquote>阿里巴巴香港：9988这家电子商务巨头被中国反垄断监管机构处以创纪录的28亿美元罚款后，该公司股价在香港交易中飙升7%。该公司的美国存托凭证BABA在盘前交易中上涨超过6%。</blockquote> Italian diagnostic specialist DiaSorinIT:DIAannounced adeal to buy COVID-19 testing kit makerLuminex Corp.LMNXfor around $1.8 billion.<blockquote>意大利诊断专家DiaSorinIT：DIA宣布以约18亿美元收购COVID-19检测试剂盒制造商Luminex Corp.LMNX。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/dont-fight-the-fed-goldman-says-these-stocks-can-benefit-from-higher-inflation-11618226926?mod=home-page\">MarketWatch</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/dont-fight-the-fed-goldman-says-these-stocks-can-benefit-from-higher-inflation-11618226926?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143734305","content_text":"Critical information for the trading day.\n\nU.S. stocks look set to start Monday on the back foot ahead of key inflation data and earnings reports later in the week.\nFears over rising COVID-19 cases and vaccination problems, after a Chinese government official said theeffectiveness of its vaccines was low, has put equity markets under pressure.\nHowever, the partial reopening of the U.K. and upbeat comments from Federal Reserve Chair Jerome Powell provided some positivity. Investors will also be awaiting consumer price data on Tuesday and earnings from major banks JPMorgan Chase, Goldman Sachs and Wells Fargo later this week.\nAfter a delay on Friday, the U.S. Labor Department said the producer-price index, a key measure of inflation, rose 1% in March — the biggest annual increase since 2011.\nIn ourcall of the day, Goldman Sachs strategists said higher inflation was on the cards in the coming months, which could boost companies with high pricing power.\n“‘Don’t fight the Fed’ is a quip investors have learned to ignore at their peril. What the central bank wants is usually what it gets, sooner or later,” the strategists said, noting that the Fed’s intervention a year ago sparked the 80% rally that has lifted the S&P 500SPXto an all-time high. The index has rallied 10% year-to-date and now trades at Goldman’s midyear target of 4,100 — the bank’s end-year target implies a gain of 5%.\nThe Fed now wants higher inflation, they said. The investment bank’s economics team expected inflation readings to climb in the coming months, peaking at 2.3% in April, before sitting below 2% until 2023.\nWhen it comes to the impact on stocks, Goldman said it was all about margins, adding that some companies were protecting margins by passing higher costs along to their consumers.\nThe strategists, led by David Kostin, said companies with low pricing power have historically outperformed when S&P 500 profit margins are expanding. In contrast, companies with high pricing power have “sharply lagged” during the past year. However, rising inflation could mean that is about to change, and companies with high pricing power are set to benefit, the strategists said.\nGoldman screened for stocks with high pricing power — high and stable gross margins relative to sector peers. The screen produced 55 stocks, including videogames company Activision BlizzardATVI,tobacco giant Philip MorrisPM,consumer-goods companies Colgate-PalmoliveCLand Procter & GamblePG,and drug manufacturer ZoetisZTS.Technology companies, such as Aspen TechnologyAZPN,AdobeADBEand OracleORCL,and retailers EtsyETSYand Dollar GeneralDGalso featured.\nSeparately, with first-quarter earnings seasons getting under way next week, Goldman expected aggregated sales growth of 5% and earnings per share (EPS) growth of 19%. But that won’t matter much, its strategists added. “The trajectory of the economic recovery will continue to make backward-looking metrics less relevant for the forward-looking market,” they said.\nThe next issue dominating investor discussions is President Joe Biden’s plan to boost corporate tax to 28%, Goldman said. The full adoption of Biden’s proposals would see 2022 annual S&P 500 EPS growth of 12% fall to just 5%, they added.\nThe tweet\nHigher producer prices are positively linked to S&P 500 earnings, according to this chart from Jeroen Blokland, senior portfolio manager at Robeco Asset Management.\nThe markets\nU.S. stock futuresES00NQ00pointed lower early on Monday, with Dow futuresYM00implying a 40-point loss for the Dow Jones Industrial AverageDJIAat the open. European stocks alsonudged lowerin early trading, while Asian markets slipped overnight as investors monitoredrising coronavirus casesand slow vaccination rollouts.\nThe buzz\nPowell said“it will be a while”before the central bank taps the brakes on the economy, in an interview on “60 Minutes” on Sunday.\nTech giant MicrosoftMSFTis in advanced talks to buy speech-recognition company Nuance CommunicationsNUANin a deal valued at about $16 billion, according to multiple reports on Sunday.\nPub gardens, hair salons, gyms and nonessential shopswill open in Englandon Monday for the first time since early January, as the U.K. takes the next step on its path to reopening.\nAlibabaHK:9988shares surged 7% in Hong Kong trading after the e-commerce giant wasfined a record $2.8 billion by China’s antitrust watchdog. The company’s American depositary receiptsBABAwere more than 6% higher in premarket trading.\nItalian diagnostic specialist DiaSorinIT:DIAannounced adeal to buy COVID-19 testing kit makerLuminex Corp.LMNXfor around $1.8 billion.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":376,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/342522191"}