DavvYap的个人主页 - 老虎社区

DavvYap

DavvYap

暂无个人介绍

IP属地：未知

6关注

5粉丝

0主题

0勋章

2021-07-26

Cool!

The NASDAQ and the S&P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</blockquote>

2021-07-29

PayPal fly high

PayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote>

2021-07-19

Gogogo

抱歉，原内容已删除

2021-07-31

Great idea

Here’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</blockquote>

2021-07-20

Go tesla!

抱歉，原内容已删除

2021-07-13

Hope it just a beginning

Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>

2021-07-12

[得意]

抱歉，原内容已删除

2021-07-18

Hmm

Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>

2021-07-14

Temporary

抱歉，原内容已删除

2021-07-11

Good view of point!

The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3581110729198958","uuid":"3581110729198958","gmtCreate":1618155161035,"gmtModify":1618905290170,"name":"DavvYap","pinyin":"davvyap","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":5,"headSize":6,"tweetSize":27,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":21,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-3","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"偶像虎友","description":"加入老虎社区1500天","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.04.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":3,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":802793958,"gmtCreate":1627803068774,"gmtModify":1631887209780,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Get prepare","listText":"Get prepare","text":"Get prepare","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802793958","repostId":"1142925544","repostType":4,"repost":{"id":"1142925544","kind":"news","pubTimestamp":1627787240,"share":"https://www.laohunote.com/m/news/1142925544?lang=zh_CN&edition=full","pubTime":"2021-08-01 11:07","market":"us","language":"en","title":"Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142925544","media":"Barron's","summary":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970","content":"<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>","source":"lsy1610680873436","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>Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</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\">\nInvestors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-01 11:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST\">Barron's</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",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142925544","content_text":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.\nBut the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.\nAugust actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.\nThis July did even better than the norm, with the S&P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.\nAugust’s record is in between, with an average 0.70% S&P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”\nNot surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.\nPast isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.\nThe company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.\nAmong those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.\nTo be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.\nBut in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”\nHow those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.\nEconomists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.\nMarkowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802132014,"gmtCreate":1627730163838,"gmtModify":1633756759304,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Great idea","listText":"Great idea","text":"Great idea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802132014","repostId":"1127411624","repostType":4,"repost":{"id":"1127411624","kind":"news","pubTimestamp":1627715622,"share":"https://www.laohunote.com/m/news/1127411624?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:13","market":"us","language":"en","title":"Here’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127411624","media":"MarketWatch","summary":"After hibernating for months, the stock-market bears came out of their caves on July 19. That day, t","content":"<p>After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.</p><p><blockquote>经过几个月的冬眠，股市空头于7月19日从洞穴中走了出来。当天，道琼斯工业平均指数JIA,-0.42%下跌725点，跌幅2.1%。熊队打出了本垒打——至少一天。</blockquote></p><p> As usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.</p><p><blockquote>和往常一样，每个人都想知道市场下跌的原因，分析师们也准备好了答案，从 COVID-19 的德尔塔变异毒株到消费者价格指数，再到超买的技术指标。</blockquote></p><p> The truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.</p><p><blockquote>事实是没人知道。人们出售的原因有很多，所以把责任归咎于一个事件是荒谬的。也就是说，导致销量下降的一个重要因素是自动的、计算机生成的销售。一旦大型市场参与者，尤其是算法，开始出售，就会出现疯狂的抢购潮。没有人愿意成为最后一个出局的人，因此零售商和机构在恐慌中抛售，随着时间的推移，恐慌变得更加强烈。</blockquote></p><p> Technical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.&nbsp; After the July 26 market close, the RSI of the S&amp;P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.</p><p><blockquote>技术指标也做出了贡献：每周相对强弱指标（RSI）在警告市场逆转方面非常准确。一旦RSI超过70并保持在那里，买家就要小心了。7月26日收盘后，标准普尔500SPX的RSI-0.54%在周线上为71.36，这是一个极度超买的读数。这是否意味着明天指数将暴跌？没人知道。但RSI给出了美国市场处于危险地带的线索。</blockquote></p><p> <b>The bad news bears can’t catch a break</b></p><p><blockquote><b>坏消息：熊队无法休息</b></blockquote></p><p> Before the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.</p><p><blockquote>空头还没来得及说 “我早就告诉过你 ”，第二天，也就是 7 月 20 日，道琼斯指数 700 多点的抛售就被道琼斯指数 550 点的反弹抹去了。公牛队忘记了抛售，重新开始庆祝，一杯接一杯地啜饮着他们最喜欢的饮料 “bull-ade”。风暴又一次过去了，但这一次，公牛队的心中却涌起了一丝恐惧。以前，唯一的恐惧就是害怕错过下一次集会。现在，许多投资者意识到市场实际上可能会下跌。</blockquote></p><p> <b>What to do now</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> The next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:</p><p><blockquote>下次市场暴跌时，您又经历了各种情绪，以下指南可能会有所帮助：</blockquote></p><p> <b>1. If you’re panicked</b>: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.</p><p><blockquote><b>1. 如果你惊慌失措</b>：不要做某事；坐那儿。不买，不卖，坐稳就行了。事实上，关闭电脑或其他设备。不要担心那天丢了多少纸币。锻炼，散步，跑步，游泳，骑自行车。你的目标是减少情绪，这样你就能睡个好觉。当市场稳定下来时，重新评估你所拥有的。不要在这样的日子里做出任何重大的财务决定。</blockquote></p><p> <b>2. If you’re afraid</b>: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.</p><p><blockquote><b>2. 如果你害怕</b>：放轻松。抛售最终会结束。没有理由恐慌。同样，当市场清醒过来时，重新评估你所拥有的东西。</blockquote></p><p> <b>3. If you’re unaffected:</b>Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.</p><p><blockquote><b>3. 如果您不受影响：</b>尽管如此，检查你的投资组合，以确保你是适当的多元化。虽然人们不在乎市场是否下跌，但一定要为最坏的情况做好对冲。总有一天会出现持续数月或数年的熊市。做好准备。</blockquote></p><p> <b>What specific actions should you take?</b></p><p><blockquote><b>你应该采取哪些具体行动？</b></blockquote></p><p> Now that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:</p><p><blockquote>既然你已经照顾好了自己的情绪健康，你还可以做出其他财务决定。让我们来看看一些可能有所帮助的战略和战术：</blockquote></p><p> <ol>  <li>Sell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard &amp; Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.</li>  <li>Create a long-term investment plan and follow it no matter what happens in the short term.</li>  <li>Dollar-cost average into index funds.</li>  <li>Diversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.</li>  <li>Buy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.</li>  <li>Sell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.</li> </ol> <b>Plan for the next correction or bear market</b></p><p><blockquote><ol><li>如果您拥有的股票或指数跌破 200 天移动平均线，请卖出。注：标准普尔 500SPX,-0.54% 等主要指数十年来从未跌破（并一直低于）其 200 天平均水平。当他们最终这样做时，这是一个明确的卖出信号。</li><li>制定一个长期投资计划，无论短期内发生什么，都要遵循它。</li><li>指数基金的美元成本平均值。</li><li>多样化。这是股市和人生成功的关键。如果您只拥有股票，请考虑债券，但在采取这一步之前请与金融专业人士（而不是您的邻居）交谈。</li><li>逢低买入。这个策略仍然有效。如果你在7月19日逢低买入，你就会在7月20日清理干净。总有一天，这种策略不会奏效，但那一天还没有到来。</li><li>出售备兑看涨期权期权。这仍然是一个产生额外收入的好方法。这种策略也是处理不需要的库存并获得报酬的理想选择。</li></ol><b>为下一次调整或熊市做好计划</b></blockquote></p><p> After a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.</p><p><blockquote>经过 13 年的牛市，美国股市的时间正在流逝。虽然多头这次又取得了胜利，但总有一天市场不会逆转方向，会开始大幅回调，甚至更糟的是，会进入熊市。这时，你会庆幸自己有一个计划和一个投资脚本，可以在最糟糕的日子里遵循。</blockquote></p><p> Know what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.</p><p><blockquote>了解自己拥有什么，卖出到 “睡个好觉 ”点，分散投资各种金融产品，包括现金和债券。这样，当市场再次暴跌时，你就不会做出情绪化的决定，也不会焦虑发作。</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>Here’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</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\">\nHere’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.</p><p><blockquote>经过几个月的冬眠，股市空头于7月19日从洞穴中走了出来。当天，道琼斯工业平均指数JIA,-0.42%下跌725点，跌幅2.1%。熊队打出了本垒打——至少一天。</blockquote></p><p> As usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.</p><p><blockquote>和往常一样，每个人都想知道市场下跌的原因，分析师们也准备好了答案，从 COVID-19 的德尔塔变异毒株到消费者价格指数，再到超买的技术指标。</blockquote></p><p> The truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.</p><p><blockquote>事实是没人知道。人们出售的原因有很多，所以把责任归咎于一个事件是荒谬的。也就是说，导致销量下降的一个重要因素是自动的、计算机生成的销售。一旦大型市场参与者，尤其是算法，开始出售，就会出现疯狂的抢购潮。没有人愿意成为最后一个出局的人，因此零售商和机构在恐慌中抛售，随着时间的推移，恐慌变得更加强烈。</blockquote></p><p> Technical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.&nbsp; After the July 26 market close, the RSI of the S&amp;P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.</p><p><blockquote>技术指标也做出了贡献：每周相对强弱指标（RSI）在警告市场逆转方面非常准确。一旦RSI超过70并保持在那里，买家就要小心了。7月26日收盘后，标准普尔500SPX的RSI-0.54%在周线上为71.36，这是一个极度超买的读数。这是否意味着明天指数将暴跌？没人知道。但RSI给出了美国市场处于危险地带的线索。</blockquote></p><p> <b>The bad news bears can’t catch a break</b></p><p><blockquote><b>坏消息：熊队无法休息</b></blockquote></p><p> Before the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.</p><p><blockquote>空头还没来得及说 “我早就告诉过你 ”，第二天，也就是 7 月 20 日，道琼斯指数 700 多点的抛售就被道琼斯指数 550 点的反弹抹去了。公牛队忘记了抛售，重新开始庆祝，一杯接一杯地啜饮着他们最喜欢的饮料 “bull-ade”。风暴又一次过去了，但这一次，公牛队的心中却涌起了一丝恐惧。以前，唯一的恐惧就是害怕错过下一次集会。现在，许多投资者意识到市场实际上可能会下跌。</blockquote></p><p> <b>What to do now</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> The next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:</p><p><blockquote>下次市场暴跌时，您又经历了各种情绪，以下指南可能会有所帮助：</blockquote></p><p> <b>1. If you’re panicked</b>: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.</p><p><blockquote><b>1. 如果你惊慌失措</b>：不要做某事；坐那儿。不买，不卖，坐稳就行了。事实上，关闭电脑或其他设备。不要担心那天丢了多少纸币。锻炼，散步，跑步，游泳，骑自行车。你的目标是减少情绪，这样你就能睡个好觉。当市场稳定下来时，重新评估你所拥有的。不要在这样的日子里做出任何重大的财务决定。</blockquote></p><p> <b>2. If you’re afraid</b>: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.</p><p><blockquote><b>2. 如果你害怕</b>：放轻松。抛售最终会结束。没有理由恐慌。同样，当市场清醒过来时，重新评估你所拥有的东西。</blockquote></p><p> <b>3. If you’re unaffected:</b>Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.</p><p><blockquote><b>3. 如果您不受影响：</b>尽管如此，检查你的投资组合，以确保你是适当的多元化。虽然人们不在乎市场是否下跌，但一定要为最坏的情况做好对冲。总有一天会出现持续数月或数年的熊市。做好准备。</blockquote></p><p> <b>What specific actions should you take?</b></p><p><blockquote><b>你应该采取哪些具体行动？</b></blockquote></p><p> Now that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:</p><p><blockquote>既然你已经照顾好了自己的情绪健康，你还可以做出其他财务决定。让我们来看看一些可能有所帮助的战略和战术：</blockquote></p><p> <ol>  <li>Sell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard &amp; Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.</li>  <li>Create a long-term investment plan and follow it no matter what happens in the short term.</li>  <li>Dollar-cost average into index funds.</li>  <li>Diversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.</li>  <li>Buy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.</li>  <li>Sell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.</li> </ol> <b>Plan for the next correction or bear market</b></p><p><blockquote><ol><li>如果您拥有的股票或指数跌破 200 天移动平均线，请卖出。注：标准普尔 500SPX,-0.54% 等主要指数十年来从未跌破（并一直低于）其 200 天平均水平。当他们最终这样做时，这是一个明确的卖出信号。</li><li>制定一个长期投资计划，无论短期内发生什么，都要遵循它。</li><li>指数基金的美元成本平均值。</li><li>多样化。这是股市和人生成功的关键。如果您只拥有股票，请考虑债券，但在采取这一步之前请与金融专业人士（而不是您的邻居）交谈。</li><li>逢低买入。这个策略仍然有效。如果你在7月19日逢低买入，你就会在7月20日清理干净。总有一天，这种策略不会奏效，但那一天还没有到来。</li><li>出售备兑看涨期权期权。这仍然是一个产生额外收入的好方法。这种策略也是处理不需要的库存并获得报酬的理想选择。</li></ol><b>为下一次调整或熊市做好计划</b></blockquote></p><p> After a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.</p><p><blockquote>经过 13 年的牛市，美国股市的时间正在流逝。虽然多头这次又取得了胜利，但总有一天市场不会逆转方向，会开始大幅回调，甚至更糟的是，会进入熊市。这时，你会庆幸自己有一个计划和一个投资脚本，可以在最糟糕的日子里遵循。</blockquote></p><p> Know what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.</p><p><blockquote>了解自己拥有什么，卖出到 “睡个好觉 ”点，分散投资各种金融产品，包括现金和债券。这样，当市场再次暴跌时，你就不会做出情绪化的决定，也不会焦虑发作。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/heres-your-to-do-list-before-the-stock-markets-next-dive-11627360870?mod=article_inline\">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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/heres-your-to-do-list-before-the-stock-markets-next-dive-11627360870?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127411624","content_text":"After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.\nAs usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.\nThe truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.\nTechnical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.  After the July 26 market close, the RSI of the S&P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.\nThe bad news bears can’t catch a break\nBefore the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.\nWhat to do now\nThe next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:\n1. If you’re panicked: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.\n2. If you’re afraid: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.\n3. If you’re unaffected:Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.\nWhat specific actions should you take?\nNow that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:\n\nSell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard & Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.\nCreate a long-term investment plan and follow it no matter what happens in the short term.\nDollar-cost average into index funds.\nDiversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.\nBuy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.\nSell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.\n\nPlan for the next correction or bear market\nAfter a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.\nKnow what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808110082,"gmtCreate":1627564267846,"gmtModify":1631886032797,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"PayPal fly high&nbsp;","listText":"PayPal fly high&nbsp;","text":"PayPal fly high","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808110082","repostId":"1157796712","repostType":4,"repost":{"id":"1157796712","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627546052,"share":"https://www.laohunote.com/m/news/1157796712?lang=zh_CN&edition=full","pubTime":"2021-07-29 16:07","market":"us","language":"en","title":"PayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157796712","media":"Tiger Newspress","summary":"PayPal stock tumbled nearly 5% after the payments company beat second-quarter earnings forecasts but","content":"<p>PayPal stock tumbled&nbsp;nearly&nbsp;5%&nbsp;after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.</p><p><blockquote>PayPal股价暴跌近 5%，此前这家支付公司第二季度盈利超出预期，但提供的指引低于市场共识。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f8c2f03bbb34acf38cda8e22bd97803\" tg-width=\"881\" tg-height=\"641\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43</p><p><blockquote>PayPal公布调整后每股利润为 1.15 美元，超出预期的 1.13 美元，销售额为 62.4 亿美元，低于分析师预期的 62.7 亿美元。PayPal还表示，第三季度每股收益将为 1.07 美元，低于预期的 1.14 美元，而销售指引为 6.1.5 亿美元至 62.5 亿美元，低于预期的 6.43 美元</blockquote></p><p> “3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.</p><p><blockquote>杰富瑞（Jefferies）分析师特雷弗-威廉姆斯（Trevor Williams）写道：“第三季度的前景将推动这一说法，预计收入将比华尔街预期低约 3.5%。每股收益将低约 6%。”</blockquote></p><p> PayPal highlighted the impact of&nbsp;eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.</p><p><blockquote>PayPal强调了 eBay 向 “托管支付 ”系统过渡的影响，认为这是增长放缓的原因之一。冠捷在 eBay 的情况下增长了 40%，在没有 eBay 的情况下增长了 48%，而在没有 eBay 的情况下，销售额增长了 32%，而在没有 eBay 的情况下增长了 19%。</blockquote></p><p> “We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.</p><p><blockquote>“首席财务官 John Rainey 在与分析师的看涨期权上说：”我们现在从 eBay 吸收的压力比我们之前预期的要大。他补充说，公司 “计划让 eBay 对我们收入增长的拖累大于之前的预期。第三季度收入将增长 8.5 个百分点，减少 4.65 亿美元，收入估计达到 62 亿美元。</blockquote></p><p> Mizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.</p><p><blockquote>瑞穗证券的丹-多列夫（Dan Dolev）敦促投资者从长远来看。他在谈到PayPal 2020 年的惊人增长时写道，虽然 “Covid 蜜月期可能已经结束”，但他在财报中强调了几个积极因素，包括与PayPal核心应用程序的互动加强，以及 “先买后付 ”等新举措的势头，季度交易量增长了 49%。</blockquote></p><p> He also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.</p><p><blockquote>他还指出，PayPal在第三季度将支付总量指导从 30% 提高到 33%-35%，比大流行前的水平高出 10 个百分点。“他在一份说明中写道：”这表明电子商务趋势强劲，PYPL 的股价涨幅将持续下去。</blockquote></p><p> But expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.</p><p><blockquote>但目前对该股的预期可能很难达到，而且有迹象表明压力可能正在增加。</blockquote></p><p> PayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.</p><p><blockquote>例如，PayPal报告称，该公司向商家收取的 “收费 ”继续疲软，指的是商家向PayPal支付的服务费。该比率从2020年第四季度的2.21%下降至第一季度的2.11%和第二季度的2.01%。PayPal将下降归因于 eBay 交易量下降和外汇费用下降，但这也可能表明PayPal面临着更具竞争力的定价压力。</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>PayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-29 16:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>PayPal stock tumbled&nbsp;nearly&nbsp;5%&nbsp;after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.</p><p><blockquote>PayPal股价暴跌近 5%，此前这家支付公司第二季度盈利超出预期，但提供的指引低于市场共识。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f8c2f03bbb34acf38cda8e22bd97803\" tg-width=\"881\" tg-height=\"641\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43</p><p><blockquote>PayPal公布调整后每股利润为 1.15 美元，超出预期的 1.13 美元，销售额为 62.4 亿美元，低于分析师预期的 62.7 亿美元。PayPal还表示，第三季度每股收益将为 1.07 美元，低于预期的 1.14 美元，而销售指引为 6.1.5 亿美元至 62.5 亿美元，低于预期的 6.43 美元</blockquote></p><p> “3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.</p><p><blockquote>杰富瑞（Jefferies）分析师特雷弗-威廉姆斯（Trevor Williams）写道：“第三季度的前景将推动这一说法，预计收入将比华尔街预期低约 3.5%。每股收益将低约 6%。”</blockquote></p><p> PayPal highlighted the impact of&nbsp;eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.</p><p><blockquote>PayPal强调了 eBay 向 “托管支付 ”系统过渡的影响，认为这是增长放缓的原因之一。冠捷在 eBay 的情况下增长了 40%，在没有 eBay 的情况下增长了 48%，而在没有 eBay 的情况下，销售额增长了 32%，而在没有 eBay 的情况下增长了 19%。</blockquote></p><p> “We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.</p><p><blockquote>“首席财务官 John Rainey 在与分析师的看涨期权上说：”我们现在从 eBay 吸收的压力比我们之前预期的要大。他补充说，公司 “计划让 eBay 对我们收入增长的拖累大于之前的预期。第三季度收入将增长 8.5 个百分点，减少 4.65 亿美元，收入估计达到 62 亿美元。</blockquote></p><p> Mizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.</p><p><blockquote>瑞穗证券的丹-多列夫（Dan Dolev）敦促投资者从长远来看。他在谈到PayPal 2020 年的惊人增长时写道，虽然 “Covid 蜜月期可能已经结束”，但他在财报中强调了几个积极因素，包括与PayPal核心应用程序的互动加强，以及 “先买后付 ”等新举措的势头，季度交易量增长了 49%。</blockquote></p><p> He also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.</p><p><blockquote>他还指出，PayPal在第三季度将支付总量指导从 30% 提高到 33%-35%，比大流行前的水平高出 10 个百分点。“他在一份说明中写道：”这表明电子商务趋势强劲，PYPL 的股价涨幅将持续下去。</blockquote></p><p> But expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.</p><p><blockquote>但目前对该股的预期可能很难达到，而且有迹象表明压力可能正在增加。</blockquote></p><p> PayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.</p><p><blockquote>例如，PayPal报告称，该公司向商家收取的 “收费 ”继续疲软，指的是商家向PayPal支付的服务费。该比率从2020年第四季度的2.21%下降至第一季度的2.11%和第二季度的2.01%。PayPal将下降归因于 eBay 交易量下降和外汇费用下降，但这也可能表明PayPal面临着更具竞争力的定价压力。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157796712","content_text":"PayPal stock tumbled nearly 5% after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.\n\nPayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43\n“3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.\nPayPal highlighted the impact of eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.\n“We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.\nMizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.\nHe also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.\nBut expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.\nPayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809601865,"gmtCreate":1627362324057,"gmtModify":1633765704600,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809601865","repostId":"2154966721","repostType":4,"repost":{"id":"2154966721","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627355035,"share":"https://www.laohunote.com/m/news/2154966721?lang=zh_CN&edition=full","pubTime":"2021-07-27 11:03","market":"us","language":"en","title":"Why These 3 Microsoft Analysts Are Bullish Ahead Of Q4 Results<blockquote>为什么这 3 位微软分析师在第四季度业绩公布前看好</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2154966721","media":"Benzinga Earnings","summary":"Microsoft Corp. (NASDAQ: MSFT) is set to report fourth-quarter earnings following the market close on Tuesday, July 27. In anticipation of this earnings call, analysts at Citi, KeyBanc and Wedbush Securities have provided insight into the company’s market positioning.","content":"<p><b>Microsoft Corp. </b>(NASDAQ:MSFT) is set to report&nbsp;fourth-quarter earnings following the market close on Tuesday, July 27. In anticipation of this earnings call, analysts at Citi, KeyBanc&nbsp;and Wedbush Securities have provided insight into the company’s market positioning.</p><p><blockquote><b>微软公司</b>（纳斯达克股票代码：MSFT）将于 7 月 27 日星期二收盘后公布第四季度收益。花旗、KeyBanc 和 Wedbush Securities 的分析师对该公司的市场定位进行了深入剖析。</blockquote></p><p> The consensus estimates project fourth-quarter EPS of&nbsp;$1.90 and revenue of&nbsp;$44.1&nbsp;billion.</p><p><blockquote>市场普遍预计第四季度每股收益为 1.90 美元，营收为 441 亿美元。</blockquote></p><p> <h3>Citi's Take On Microsoft</h3> “Recovering IT budgets, an uptick in expected reseller growth, signs of reacceleration in consumption models and slightly higher PC numbers vs. 3 months ago” have helped analyst Tyler Radke maintain a positive outlook for Microsoft’s fourth-quarter earnings. The analyst did not provide an exact EPS estimate.</p><p><blockquote><h3>花旗对微软的看法</h3>“IT 预算的恢复、经销商预期增长的上升、消费模式重新加速的迹象以及 PC 数量与 3 个月前相比略有上升”，帮助分析师泰勒-拉德克（Tyler Radke）维持了对微软第四季度收益的积极展望。分析师没有提供准确的每股收益估计。</blockquote></p><p> Longer-term, Microsoft remains Citi’s top large-cap play among North American application software, systems software, and interactive home entertainment stocks, the analyst said in a note.</p><p><blockquote>这位分析师在一份报告中说，从长远来看，微软仍然是花旗在北美应用软件、系统软件和互动家庭娱乐股票中的首选大盘股。</blockquote></p><p> The analyst maintained a Buy rating and raised the&nbsp;price target from $310 to $378.</p><p><blockquote>该分析师维持买入评级，并将目标价从 310 美元上调至 378 美元。</blockquote></p><p> <h3>KeyBanc's Take On Microsoft</h3> Microsoft is becoming increasingly strategically important in the realm of security, cloud migration&nbsp;and digital transformation, said KeyBanc's managing director and senior analyst of enterprise software Michael Turits.</p><p><blockquote><h3>KeyBanc 对微软的看法</h3>KeyBanc 董事总经理兼企业软件高级分析师 Michael Turits 表示，微软在安全、云迁移和数字化转型领域的战略重要性日益凸显。</blockquote></p><p> According to a survey of IT value-added resellers (VAR), security, Office 365&nbsp;and Azure are the top areas of spending as the world ushers in an enterprise shift to greater adoption of digital technologies, said the analyst.</p><p><blockquote>这位分析师表示，根据对 IT 增值经销商 (VAR) 的调查，随着全球企业转向更多地采用数字技术，安全、Office 365 和 Azure 是最受欢迎的支出领域。</blockquote></p><p> The VAR survey additionally highlighted that Microsoft’s products rank highly against competitors, from dev-ops solutions such as GitHub to cloud solutions with Azure to security offerings,&nbsp;which surpassed Okta/Auth0, he said.</p><p><blockquote>他说，VAR 调查还强调，从 GitHub 等开发运营解决方案到 Azure 云解决方案，再到超过 Okta/Auth0 的安全产品，微软的产品在竞争对手中排名靠前。</blockquote></p><p> The analyst reiterated an Overweight rating and increased the&nbsp;price target from $305 to $330.</p><p><blockquote>该分析师重申了跑赢大盘的评级，并将目标价从 305 美元上调至 330 美元。</blockquote></p><p> <h3>Wedbush's Take On Microsoft</h3> Analyst Daniel Ives is expecting a “beat and raise” from Microsoft on&nbsp;earnings and guidance Tuesday.</p><p><blockquote><h3>韦德布什对微软的看法</h3>分析师 Daniel Ives 预计微软将在周二公布财报和指引时 “击败并上调”。</blockquote></p><p> Azure deal sizes are “increasing markedly,” driven by an acceleration in enterprise-wide digital transformations to cloud architecture, said the analyst.</p><p><blockquote>这位分析师表示，在企业范围内向云架构加速数字化转型的推动下，Azure 的交易规模正在 “显著增加”。</blockquote></p><p> Azure is in its early stages of the roll-out, penetrating only 35% of Microsoft’s installed base, he said. Microsoft’s Office 365 transition should continue to provide tailwinds in enterprise Azure adoption, said Ives.</p><p><blockquote>他说，Azure 还处于推广的早期阶段，仅渗透到微软 35% 的安装基数。艾夫斯说，微软的 Office 365 过渡应继续为企业采用 Azure 提供推动力。</blockquote></p><p> Digital transformation has an estimated $1 trillion total addressable market, and Microsoft is incredibly well-positioned to deploy Azure and Office 365 as the backbone of cloud enterprise solutions, said the Wedbush analyst.</p><p><blockquote>Wedbush分析师表示，数字化转型的潜在市场总额估计为1万亿美元，微软在部署Azure和Office 365作为云企业解决方案的支柱方面处于非常有利的地位。</blockquote></p><p> Looking ahead, Wedbush maintains its Outperform rating on Microsoft with a $325 price target, mainly due to a growing cloud transformation story fueled by a currently large Microsoft software installed base.</p><p><blockquote>展望未来，Wedbush 维持微软跑赢大盘评级，目标价为 325 美元，主要是由于目前大型微软软件安装基础推动的云转型故事不断增长。</blockquote></p><p> <b>MSFT Price Action: </b>Microsoft was trading down 0.43% to $288.43 at last check Monday.</p><p><blockquote><b>MSFT 价格走势：</b>周一最后一次检查时，微软股价下跌 0.43%，至 288.43 美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why These 3 Microsoft Analysts Are Bullish Ahead Of Q4 Results<blockquote>为什么这 3 位微软分析师在第四季度业绩公布前看好</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\">\nWhy These 3 Microsoft Analysts Are Bullish Ahead Of Q4 Results<blockquote>为什么这 3 位微软分析师在第四季度业绩公布前看好</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-07-27 11:03</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Microsoft Corp. </b>(NASDAQ:MSFT) is set to report&nbsp;fourth-quarter earnings following the market close on Tuesday, July 27. In anticipation of this earnings call, analysts at Citi, KeyBanc&nbsp;and Wedbush Securities have provided insight into the company’s market positioning.</p><p><blockquote><b>微软公司</b>（纳斯达克股票代码：MSFT）将于 7 月 27 日星期二收盘后公布第四季度收益。花旗、KeyBanc 和 Wedbush Securities 的分析师对该公司的市场定位进行了深入剖析。</blockquote></p><p> The consensus estimates project fourth-quarter EPS of&nbsp;$1.90 and revenue of&nbsp;$44.1&nbsp;billion.</p><p><blockquote>市场普遍预计第四季度每股收益为 1.90 美元，营收为 441 亿美元。</blockquote></p><p> <h3>Citi's Take On Microsoft</h3> “Recovering IT budgets, an uptick in expected reseller growth, signs of reacceleration in consumption models and slightly higher PC numbers vs. 3 months ago” have helped analyst Tyler Radke maintain a positive outlook for Microsoft’s fourth-quarter earnings. The analyst did not provide an exact EPS estimate.</p><p><blockquote><h3>花旗对微软的看法</h3>“IT 预算的恢复、经销商预期增长的上升、消费模式重新加速的迹象以及 PC 数量与 3 个月前相比略有上升”，帮助分析师泰勒-拉德克（Tyler Radke）维持了对微软第四季度收益的积极展望。分析师没有提供准确的每股收益估计。</blockquote></p><p> Longer-term, Microsoft remains Citi’s top large-cap play among North American application software, systems software, and interactive home entertainment stocks, the analyst said in a note.</p><p><blockquote>这位分析师在一份报告中说，从长远来看，微软仍然是花旗在北美应用软件、系统软件和互动家庭娱乐股票中的首选大盘股。</blockquote></p><p> The analyst maintained a Buy rating and raised the&nbsp;price target from $310 to $378.</p><p><blockquote>该分析师维持买入评级，并将目标价从 310 美元上调至 378 美元。</blockquote></p><p> <h3>KeyBanc's Take On Microsoft</h3> Microsoft is becoming increasingly strategically important in the realm of security, cloud migration&nbsp;and digital transformation, said KeyBanc's managing director and senior analyst of enterprise software Michael Turits.</p><p><blockquote><h3>KeyBanc 对微软的看法</h3>KeyBanc 董事总经理兼企业软件高级分析师 Michael Turits 表示，微软在安全、云迁移和数字化转型领域的战略重要性日益凸显。</blockquote></p><p> According to a survey of IT value-added resellers (VAR), security, Office 365&nbsp;and Azure are the top areas of spending as the world ushers in an enterprise shift to greater adoption of digital technologies, said the analyst.</p><p><blockquote>这位分析师表示，根据对 IT 增值经销商 (VAR) 的调查，随着全球企业转向更多地采用数字技术，安全、Office 365 和 Azure 是最受欢迎的支出领域。</blockquote></p><p> The VAR survey additionally highlighted that Microsoft’s products rank highly against competitors, from dev-ops solutions such as GitHub to cloud solutions with Azure to security offerings,&nbsp;which surpassed Okta/Auth0, he said.</p><p><blockquote>他说，VAR 调查还强调，从 GitHub 等开发运营解决方案到 Azure 云解决方案，再到超过 Okta/Auth0 的安全产品，微软的产品在竞争对手中排名靠前。</blockquote></p><p> The analyst reiterated an Overweight rating and increased the&nbsp;price target from $305 to $330.</p><p><blockquote>该分析师重申了跑赢大盘的评级，并将目标价从 305 美元上调至 330 美元。</blockquote></p><p> <h3>Wedbush's Take On Microsoft</h3> Analyst Daniel Ives is expecting a “beat and raise” from Microsoft on&nbsp;earnings and guidance Tuesday.</p><p><blockquote><h3>韦德布什对微软的看法</h3>分析师 Daniel Ives 预计微软将在周二公布财报和指引时 “击败并上调”。</blockquote></p><p> Azure deal sizes are “increasing markedly,” driven by an acceleration in enterprise-wide digital transformations to cloud architecture, said the analyst.</p><p><blockquote>这位分析师表示，在企业范围内向云架构加速数字化转型的推动下，Azure 的交易规模正在 “显著增加”。</blockquote></p><p> Azure is in its early stages of the roll-out, penetrating only 35% of Microsoft’s installed base, he said. Microsoft’s Office 365 transition should continue to provide tailwinds in enterprise Azure adoption, said Ives.</p><p><blockquote>他说，Azure 还处于推广的早期阶段，仅渗透到微软 35% 的安装基数。艾夫斯说，微软的 Office 365 过渡应继续为企业采用 Azure 提供推动力。</blockquote></p><p> Digital transformation has an estimated $1 trillion total addressable market, and Microsoft is incredibly well-positioned to deploy Azure and Office 365 as the backbone of cloud enterprise solutions, said the Wedbush analyst.</p><p><blockquote>Wedbush分析师表示，数字化转型的潜在市场总额估计为1万亿美元，微软在部署Azure和Office 365作为云企业解决方案的支柱方面处于非常有利的地位。</blockquote></p><p> Looking ahead, Wedbush maintains its Outperform rating on Microsoft with a $325 price target, mainly due to a growing cloud transformation story fueled by a currently large Microsoft software installed base.</p><p><blockquote>展望未来，Wedbush 维持微软跑赢大盘评级，目标价为 325 美元，主要是由于目前大型微软软件安装基础推动的云转型故事不断增长。</blockquote></p><p> <b>MSFT Price Action: </b>Microsoft was trading down 0.43% to $288.43 at last check Monday.</p><p><blockquote><b>MSFT 价格走势：</b>周一最后一次检查时，微软股价下跌 0.43%，至 288.43 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","09086":"华夏纳指-U","MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154966721","content_text":"Microsoft Corp. (NASDAQ:MSFT) is set to report fourth-quarter earnings following the market close on Tuesday, July 27. In anticipation of this earnings call, analysts at Citi, KeyBanc and Wedbush Securities have provided insight into the company’s market positioning.\nThe consensus estimates project fourth-quarter EPS of $1.90 and revenue of $44.1 billion.\nCiti's Take On Microsoft\n“Recovering IT budgets, an uptick in expected reseller growth, signs of reacceleration in consumption models and slightly higher PC numbers vs. 3 months ago” have helped analyst Tyler Radke maintain a positive outlook for Microsoft’s fourth-quarter earnings. The analyst did not provide an exact EPS estimate.\nLonger-term, Microsoft remains Citi’s top large-cap play among North American application software, systems software, and interactive home entertainment stocks, the analyst said in a note.\nThe analyst maintained a Buy rating and raised the price target from $310 to $378.\nKeyBanc's Take On Microsoft\nMicrosoft is becoming increasingly strategically important in the realm of security, cloud migration and digital transformation, said KeyBanc's managing director and senior analyst of enterprise software Michael Turits.\nAccording to a survey of IT value-added resellers (VAR), security, Office 365 and Azure are the top areas of spending as the world ushers in an enterprise shift to greater adoption of digital technologies, said the analyst.\nThe VAR survey additionally highlighted that Microsoft’s products rank highly against competitors, from dev-ops solutions such as GitHub to cloud solutions with Azure to security offerings, which surpassed Okta/Auth0, he said.\nThe analyst reiterated an Overweight rating and increased the price target from $305 to $330.\nWedbush's Take On Microsoft\nAnalyst Daniel Ives is expecting a “beat and raise” from Microsoft on earnings and guidance Tuesday.\nAzure deal sizes are “increasing markedly,” driven by an acceleration in enterprise-wide digital transformations to cloud architecture, said the analyst.\nAzure is in its early stages of the roll-out, penetrating only 35% of Microsoft’s installed base, he said. Microsoft’s Office 365 transition should continue to provide tailwinds in enterprise Azure adoption, said Ives.\nDigital transformation has an estimated $1 trillion total addressable market, and Microsoft is incredibly well-positioned to deploy Azure and Office 365 as the backbone of cloud enterprise solutions, said the Wedbush analyst.\nLooking ahead, Wedbush maintains its Outperform rating on Microsoft with a $325 price target, mainly due to a growing cloud transformation story fueled by a currently large Microsoft software installed base.\nMSFT Price Action: Microsoft was trading down 0.43% to $288.43 at last check Monday.","news_type":1,"symbols_score_info":{"MSFT":0.9,"03086":0.9,"09086":0.9}},"isVote":1,"tweetType":1,"viewCount":2122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800552385,"gmtCreate":1627309424247,"gmtModify":1633766261246,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800552385","repostId":"1189886518","repostType":4,"repost":{"id":"1189886518","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627308770,"share":"https://www.laohunote.com/m/news/1189886518?lang=zh_CN&edition=full","pubTime":"2021-07-26 22:12","market":"us","language":"en","title":"The NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189886518","media":"Tiger Newspress","summary":"The NASDAQ and the S&P 500 index reached new highs.","content":"<p>The NASDAQ and the S&amp;P 500 index reached new highs.</p><p><blockquote>纳斯达克和标普500指数创下新高。</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>The NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</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\">\nThe NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-26 22:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The NASDAQ and the S&amp;P 500 index reached new highs.</p><p><blockquote>纳斯达克和标普500指数创下新高。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189886518","content_text":"The NASDAQ and the S&P 500 index reached new highs.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1990,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174047870,"gmtCreate":1627054500690,"gmtModify":1633768368953,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174047870","repostId":"1122515169","repostType":4,"isVote":1,"tweetType":1,"viewCount":1775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175497082,"gmtCreate":1627045457446,"gmtModify":1633768504922,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Got potential!","listText":"Got potential!","text":"Got potential!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175497082","repostId":"1147944682","repostType":4,"isVote":1,"tweetType":1,"viewCount":3405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172084208,"gmtCreate":1626921086804,"gmtModify":1633769710669,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172084208","repostId":"1128230365","repostType":4,"isVote":1,"tweetType":1,"viewCount":3596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":178094031,"gmtCreate":1626770478323,"gmtModify":1633771200910,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Go tesla!","listText":"Go tesla!","text":"Go tesla!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/178094031","repostId":"1173914774","repostType":4,"isVote":1,"tweetType":1,"viewCount":2250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178006344,"gmtCreate":1626769794988,"gmtModify":1633771209171,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Investing with care, hold on highly convicted&nbsp;securities&nbsp;","listText":"Investing with care, hold on highly convicted&nbsp;securities&nbsp;","text":"Investing with care, hold on highly convicted securities","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178006344","repostId":"1116573791","repostType":4,"isVote":1,"tweetType":1,"viewCount":2333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173612410,"gmtCreate":1626657152630,"gmtModify":1633925211673,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/173612410","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173912385,"gmtCreate":1626598146547,"gmtModify":1633925568509,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173912385","repostId":"1139907709","repostType":4,"repost":{"id":"1139907709","kind":"news","pubTimestamp":1626568617,"share":"https://www.laohunote.com/m/news/1139907709?lang=zh_CN&edition=full","pubTime":"2021-07-18 08:36","market":"hk","language":"en","title":"Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139907709","media":"Benzinga","summary":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Q","content":"<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一名名叫托马斯·F·奎因的美国侨民，罪名是策划了一项全球证券计划，骗取了投资者5亿美元。作为……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</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\">\nWall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-07-18 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一名名叫托马斯·F·奎因的美国侨民，罪名是策划了一项全球证券计划，骗取了投资者5亿美元。作为……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139907709","content_text":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.\nIllusory Assets For Sale:Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.\nQuinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.\nQuinn opted to go into business for himself, starting a brokerage firm in New York called Thomas, Williams & Lee.The main focus of this firm became the promotion of Kent Industries,a company that claimed to own Florida property valued at $2 million.\nThere was a slight problem — Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).\nLong story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”\nThe U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.\nA Job With The Mob:Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”\nQuinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,Sundance Gold Mining and Aquarius Gold Exploration, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the Genovese crime family.\nThe SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.\nThree years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.\nThe FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.\nRealizing that he wore out his welcome in his home country, Quinn and his common-law wife Rochelle Rothfleisch decided to relocate to France and to up his game to an unprecedented operation.\nBoiler Room Follies:The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.\nQuinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.\nEach office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.\nThe investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.\nQuinn’s henchmen would telephone the investors — nearly all of whom were novices to investing — and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.\nQuinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.\nA Temporary Setback: In 1988, Quinn’s arrest in France saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.\nFor starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up. Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered Bank of Credit and Commerce International in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.\nAlso, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.\nThe SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C. with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.\nIn France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.\nHe came to trial in 1991 and was only sentenced to four years in prison, but his sentence was reduced to include time served and he was extradited to Switzerland.\nHis Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.\nAn Eventual Stumble:One of Quinn’s neighbors in Greenwich wasMartin Frankel,a financier with his own addiction to swindling.\nIn 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies — but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.\nFrankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.\nFor most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.\nIn 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)\nIn November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.\nQuinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.\nWhat became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.\nOne information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.\nQuinn rarely spoke to anyone about his criminal activities. During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.\n\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173068621,"gmtCreate":1626587535563,"gmtModify":1633925635168,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Be prepare and stay put, invest with care","listText":"Be prepare and stay put, invest with care","text":"Be prepare and stay put, invest with care","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173068621","repostId":"1149577900","repostType":4,"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173068376,"gmtCreate":1626587461295,"gmtModify":1633925635407,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173068376","repostId":"2151350423","repostType":4,"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":144446079,"gmtCreate":1626311980891,"gmtModify":1633927997636,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Buy in the dip!","listText":"Buy in the dip!","text":"Buy in the dip!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144446079","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145524929,"gmtCreate":1626231771761,"gmtModify":1633928784203,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Temporary&nbsp;","listText":"Temporary&nbsp;","text":"Temporary","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145524929","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142890865,"gmtCreate":1626139625357,"gmtModify":1631884321935,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Hope it just a beginning&nbsp;","listText":"Hope it just a beginning&nbsp;","text":"Hope it just a beginning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142890865","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></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>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</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\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142018073,"gmtCreate":1626103475192,"gmtModify":1633930069340,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142018073","repostId":"2150580297","repostType":4,"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":148540030,"gmtCreate":1625993748720,"gmtModify":1633931024766,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Good view of point!","listText":"Good view of point!","text":"Good view of point!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148540030","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohunote.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</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>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</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\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":930,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141837904,"gmtCreate":1625845985508,"gmtModify":1633936726748,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Nice! Keep going !","listText":"Nice! Keep going !","text":"Nice! Keep going !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141837904","repostId":"1187480487","repostType":4,"repost":{"id":"1187480487","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625838849,"share":"https://www.laohunote.com/m/news/1187480487?lang=zh_CN&edition=full","pubTime":"2021-07-09 21:54","market":"us","language":"en","title":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187480487","media":"Tiger Newspress","summary":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.\n\n\nShanghai Disneyland","content":"<p>Disney&nbsp;shares&nbsp;rises&nbsp;nearly&nbsp;2%,as&nbsp;Shanghai Disneyland raising prices up to 10%.</p><p><blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c8b245ccacada732569aab91c7bad577\" tg-width=\"803\" tg-height=\"601\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>Shanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.</li>  <li>The resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.</li>  <li>The Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).</li>  <li>That results in increases of 9-10% across the board.</li>  <b>Disney</b>&nbsp;is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.</p><p><blockquote><ul><li>上海迪士尼乐园（DIS+0.7%）将从1月份开始提高门票价格。</li><li>该度假村表示将在1月9日提高价格，为四个等级设定新的价格：普通、普通加、高峰（夏季的大多数日子和其他旅游高峰日）和高峰加。</li><li>届时的正常价格将是435元人民币（约合67.13美元）。普通版Plus将为545元人民币（约合84.11美元）。同时，Peak price 定为 659 元（101.70 美元），Peak Plus 定为 769 元（118.67 美元）。</li><li>这导致全面增长9-10%。</li><b>迪士尼</b>随着拖延已久的《黑寡妇》将于7月9日在全球上映，正在为票房上的一个大周末做准备。迪士尼股价上涨。</ul></blockquote></p><p>  Worldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.</p><p><blockquote>据Deadline称，全球对《黑寡妇》的估计高达1.4亿美元。这不包括漫威最大的市场中国，因为它在那里还没有上映日期。</blockquote></p><p> </ul></p><p><blockquote></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>Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</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\">\nDisney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-09 21:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Disney&nbsp;shares&nbsp;rises&nbsp;nearly&nbsp;2%,as&nbsp;Shanghai Disneyland raising prices up to 10%.</p><p><blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c8b245ccacada732569aab91c7bad577\" tg-width=\"803\" tg-height=\"601\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>Shanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.</li>  <li>The resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.</li>  <li>The Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).</li>  <li>That results in increases of 9-10% across the board.</li>  <b>Disney</b>&nbsp;is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.</p><p><blockquote><ul><li>上海迪士尼乐园（DIS+0.7%）将从1月份开始提高门票价格。</li><li>该度假村表示将在1月9日提高价格，为四个等级设定新的价格：普通、普通加、高峰（夏季的大多数日子和其他旅游高峰日）和高峰加。</li><li>届时的正常价格将是435元人民币（约合67.13美元）。普通版Plus将为545元人民币（约合84.11美元）。同时，Peak price 定为 659 元（101.70 美元），Peak Plus 定为 769 元（118.67 美元）。</li><li>这导致全面增长9-10%。</li><b>迪士尼</b>随着拖延已久的《黑寡妇》将于7月9日在全球上映，正在为票房上的一个大周末做准备。迪士尼股价上涨。</ul></blockquote></p><p>  Worldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.</p><p><blockquote>据Deadline称，全球对《黑寡妇》的估计高达1.4亿美元。这不包括漫威最大的市场中国，因为它在那里还没有上映日期。</blockquote></p><p> </ul></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187480487","content_text":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.\n\n\nShanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.\nThe resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.\nThe Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).\nThat results in increases of 9-10% across the board.\nDisney is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.\nWorldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":800552385,"gmtCreate":1627309424247,"gmtModify":1633766261246,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800552385","repostId":"1189886518","repostType":4,"repost":{"id":"1189886518","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627308770,"share":"https://www.laohunote.com/m/news/1189886518?lang=zh_CN&edition=full","pubTime":"2021-07-26 22:12","market":"us","language":"en","title":"The NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189886518","media":"Tiger Newspress","summary":"The NASDAQ and the S&P 500 index reached new highs.","content":"<p>The NASDAQ and the S&amp;P 500 index reached new highs.</p><p><blockquote>纳斯达克和标普500指数创下新高。</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>The NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</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\">\nThe NASDAQ and the S&amp;P 500 index reached new highs.<blockquote>纳斯达克和标普500指数创下新高。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-26 22:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The NASDAQ and the S&amp;P 500 index reached new highs.</p><p><blockquote>纳斯达克和标普500指数创下新高。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189886518","content_text":"The NASDAQ and the S&P 500 index reached new highs.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1990,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808110082,"gmtCreate":1627564267846,"gmtModify":1631886032797,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"PayPal fly high&nbsp;","listText":"PayPal fly high&nbsp;","text":"PayPal fly high","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808110082","repostId":"1157796712","repostType":4,"repost":{"id":"1157796712","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627546052,"share":"https://www.laohunote.com/m/news/1157796712?lang=zh_CN&edition=full","pubTime":"2021-07-29 16:07","market":"us","language":"en","title":"PayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157796712","media":"Tiger Newspress","summary":"PayPal stock tumbled nearly 5% after the payments company beat second-quarter earnings forecasts but","content":"<p>PayPal stock tumbled&nbsp;nearly&nbsp;5%&nbsp;after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.</p><p><blockquote>PayPal股价暴跌近 5%，此前这家支付公司第二季度盈利超出预期，但提供的指引低于市场共识。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f8c2f03bbb34acf38cda8e22bd97803\" tg-width=\"881\" tg-height=\"641\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43</p><p><blockquote>PayPal公布调整后每股利润为 1.15 美元，超出预期的 1.13 美元，销售额为 62.4 亿美元，低于分析师预期的 62.7 亿美元。PayPal还表示，第三季度每股收益将为 1.07 美元，低于预期的 1.14 美元，而销售指引为 6.1.5 亿美元至 62.5 亿美元，低于预期的 6.43 美元</blockquote></p><p> “3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.</p><p><blockquote>杰富瑞（Jefferies）分析师特雷弗-威廉姆斯（Trevor Williams）写道：“第三季度的前景将推动这一说法，预计收入将比华尔街预期低约 3.5%。每股收益将低约 6%。”</blockquote></p><p> PayPal highlighted the impact of&nbsp;eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.</p><p><blockquote>PayPal强调了 eBay 向 “托管支付 ”系统过渡的影响，认为这是增长放缓的原因之一。冠捷在 eBay 的情况下增长了 40%，在没有 eBay 的情况下增长了 48%，而在没有 eBay 的情况下，销售额增长了 32%，而在没有 eBay 的情况下增长了 19%。</blockquote></p><p> “We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.</p><p><blockquote>“首席财务官 John Rainey 在与分析师的看涨期权上说：”我们现在从 eBay 吸收的压力比我们之前预期的要大。他补充说，公司 “计划让 eBay 对我们收入增长的拖累大于之前的预期。第三季度收入将增长 8.5 个百分点，减少 4.65 亿美元，收入估计达到 62 亿美元。</blockquote></p><p> Mizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.</p><p><blockquote>瑞穗证券的丹-多列夫（Dan Dolev）敦促投资者从长远来看。他在谈到PayPal 2020 年的惊人增长时写道，虽然 “Covid 蜜月期可能已经结束”，但他在财报中强调了几个积极因素，包括与PayPal核心应用程序的互动加强，以及 “先买后付 ”等新举措的势头，季度交易量增长了 49%。</blockquote></p><p> He also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.</p><p><blockquote>他还指出，PayPal在第三季度将支付总量指导从 30% 提高到 33%-35%，比大流行前的水平高出 10 个百分点。“他在一份说明中写道：”这表明电子商务趋势强劲，PYPL 的股价涨幅将持续下去。</blockquote></p><p> But expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.</p><p><blockquote>但目前对该股的预期可能很难达到，而且有迹象表明压力可能正在增加。</blockquote></p><p> PayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.</p><p><blockquote>例如，PayPal报告称，该公司向商家收取的 “收费 ”继续疲软，指的是商家向PayPal支付的服务费。该比率从2020年第四季度的2.21%下降至第一季度的2.11%和第二季度的2.01%。PayPal将下降归因于 eBay 交易量下降和外汇费用下降，但这也可能表明PayPal面临着更具竞争力的定价压力。</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>PayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Earnings Beat Expectations. Why Its Stock Is Dropping.<blockquote>PayPal盈利超出预期。为什么其股价下跌。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-29 16:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>PayPal stock tumbled&nbsp;nearly&nbsp;5%&nbsp;after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.</p><p><blockquote>PayPal股价暴跌近 5%，此前这家支付公司第二季度盈利超出预期，但提供的指引低于市场共识。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f8c2f03bbb34acf38cda8e22bd97803\" tg-width=\"881\" tg-height=\"641\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43</p><p><blockquote>PayPal公布调整后每股利润为 1.15 美元，超出预期的 1.13 美元，销售额为 62.4 亿美元，低于分析师预期的 62.7 亿美元。PayPal还表示，第三季度每股收益将为 1.07 美元，低于预期的 1.14 美元，而销售指引为 6.1.5 亿美元至 62.5 亿美元，低于预期的 6.43 美元</blockquote></p><p> “3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.</p><p><blockquote>杰富瑞（Jefferies）分析师特雷弗-威廉姆斯（Trevor Williams）写道：“第三季度的前景将推动这一说法，预计收入将比华尔街预期低约 3.5%。每股收益将低约 6%。”</blockquote></p><p> PayPal highlighted the impact of&nbsp;eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.</p><p><blockquote>PayPal强调了 eBay 向 “托管支付 ”系统过渡的影响，认为这是增长放缓的原因之一。冠捷在 eBay 的情况下增长了 40%，在没有 eBay 的情况下增长了 48%，而在没有 eBay 的情况下，销售额增长了 32%，而在没有 eBay 的情况下增长了 19%。</blockquote></p><p> “We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.</p><p><blockquote>“首席财务官 John Rainey 在与分析师的看涨期权上说：”我们现在从 eBay 吸收的压力比我们之前预期的要大。他补充说，公司 “计划让 eBay 对我们收入增长的拖累大于之前的预期。第三季度收入将增长 8.5 个百分点，减少 4.65 亿美元，收入估计达到 62 亿美元。</blockquote></p><p> Mizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.</p><p><blockquote>瑞穗证券的丹-多列夫（Dan Dolev）敦促投资者从长远来看。他在谈到PayPal 2020 年的惊人增长时写道，虽然 “Covid 蜜月期可能已经结束”，但他在财报中强调了几个积极因素，包括与PayPal核心应用程序的互动加强，以及 “先买后付 ”等新举措的势头，季度交易量增长了 49%。</blockquote></p><p> He also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.</p><p><blockquote>他还指出，PayPal在第三季度将支付总量指导从 30% 提高到 33%-35%，比大流行前的水平高出 10 个百分点。“他在一份说明中写道：”这表明电子商务趋势强劲，PYPL 的股价涨幅将持续下去。</blockquote></p><p> But expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.</p><p><blockquote>但目前对该股的预期可能很难达到，而且有迹象表明压力可能正在增加。</blockquote></p><p> PayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.</p><p><blockquote>例如，PayPal报告称，该公司向商家收取的 “收费 ”继续疲软，指的是商家向PayPal支付的服务费。该比率从2020年第四季度的2.21%下降至第一季度的2.11%和第二季度的2.01%。PayPal将下降归因于 eBay 交易量下降和外汇费用下降，但这也可能表明PayPal面临着更具竞争力的定价压力。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157796712","content_text":"PayPal stock tumbled nearly 5% after the payments company beat second-quarter earnings forecasts but offered below-consensus guidance.\n\nPayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal also said it would earn $1.07 a share in the third quarter, below estimates for $1.14, while sales guidance of $6.15 to $6.25 billion came in shy of expectations for $6.43\n“3Q outlook will drive the narrative, with revenues guided ~3.5% below Street ests. and EPS ~6% below,” writes Jefferies analyst Trevor Williams.\nPayPal highlighted the impact of eBay‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.\n“We’re now absorbing more pressure from eBay than we had previously expected,” CFO John Rainey said on a call with analysts. He added that the company is “planning for eBay’s drag on our revenue growth to be greater than previously expected. The drag will amount to 8.5 percentage points of growth on third quarter revenue, shaving off $465 million and taking revenue to an estimated $6.2 billion.\nMizuho Securities’ Dan Dolev urged investors to take the longer view. While it’s true that the “Covid honeymoon may be over,” he wrote, referring to PayPal’s phenomenal growth in 2020, he highlighted several positives in the earnings report, including stronger engagement with PayPal’s core apps and momentum in new initiatives like “buy now pay later,” which saw 49% quarterly volume growth in transactions.\nHe also points out that PayPal’s boosted its total payment volume guidance from 30% to 33%-35% in the third quarter, 10 points higher than prepandemic levels. “This suggests strong e-commerce trends and PYPL’s share gains are here to stay,” he wrote in a note.\nBut expectations for the stock may be tough to meet at this juncture, and there were signs of pressure that may be building.\nPayPal, for instance, reported that it’s continuing to see weakness in the “take rate” it charges merchants, referring to the payments they make to PayPal for its services. The rate fell from 2.21% in the fourth quarter of 2020 to 2.11% in the first quarter and 2.01% in the second quarter. PayPal attributed the decline to lower eBay volumes and declines in foreign exchange fees, but it may also indicate that PayPal is facing more competitive pricing pressure.","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173612410,"gmtCreate":1626657152630,"gmtModify":1633925211673,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/173612410","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802132014,"gmtCreate":1627730163838,"gmtModify":1633756759304,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Great idea","listText":"Great idea","text":"Great idea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802132014","repostId":"1127411624","repostType":4,"repost":{"id":"1127411624","kind":"news","pubTimestamp":1627715622,"share":"https://www.laohunote.com/m/news/1127411624?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:13","market":"us","language":"en","title":"Here’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127411624","media":"MarketWatch","summary":"After hibernating for months, the stock-market bears came out of their caves on July 19. That day, t","content":"<p>After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.</p><p><blockquote>经过几个月的冬眠，股市空头于7月19日从洞穴中走了出来。当天，道琼斯工业平均指数JIA,-0.42%下跌725点，跌幅2.1%。熊队打出了本垒打——至少一天。</blockquote></p><p> As usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.</p><p><blockquote>和往常一样，每个人都想知道市场下跌的原因，分析师们也准备好了答案，从 COVID-19 的德尔塔变异毒株到消费者价格指数，再到超买的技术指标。</blockquote></p><p> The truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.</p><p><blockquote>事实是没人知道。人们出售的原因有很多，所以把责任归咎于一个事件是荒谬的。也就是说，导致销量下降的一个重要因素是自动的、计算机生成的销售。一旦大型市场参与者，尤其是算法，开始出售，就会出现疯狂的抢购潮。没有人愿意成为最后一个出局的人，因此零售商和机构在恐慌中抛售，随着时间的推移，恐慌变得更加强烈。</blockquote></p><p> Technical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.&nbsp; After the July 26 market close, the RSI of the S&amp;P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.</p><p><blockquote>技术指标也做出了贡献：每周相对强弱指标（RSI）在警告市场逆转方面非常准确。一旦RSI超过70并保持在那里，买家就要小心了。7月26日收盘后，标准普尔500SPX的RSI-0.54%在周线上为71.36，这是一个极度超买的读数。这是否意味着明天指数将暴跌？没人知道。但RSI给出了美国市场处于危险地带的线索。</blockquote></p><p> <b>The bad news bears can’t catch a break</b></p><p><blockquote><b>坏消息：熊队无法休息</b></blockquote></p><p> Before the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.</p><p><blockquote>空头还没来得及说 “我早就告诉过你 ”，第二天，也就是 7 月 20 日，道琼斯指数 700 多点的抛售就被道琼斯指数 550 点的反弹抹去了。公牛队忘记了抛售，重新开始庆祝，一杯接一杯地啜饮着他们最喜欢的饮料 “bull-ade”。风暴又一次过去了，但这一次，公牛队的心中却涌起了一丝恐惧。以前，唯一的恐惧就是害怕错过下一次集会。现在，许多投资者意识到市场实际上可能会下跌。</blockquote></p><p> <b>What to do now</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> The next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:</p><p><blockquote>下次市场暴跌时，您又经历了各种情绪，以下指南可能会有所帮助：</blockquote></p><p> <b>1. If you’re panicked</b>: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.</p><p><blockquote><b>1. 如果你惊慌失措</b>：不要做某事；坐那儿。不买，不卖，坐稳就行了。事实上，关闭电脑或其他设备。不要担心那天丢了多少纸币。锻炼，散步，跑步，游泳，骑自行车。你的目标是减少情绪，这样你就能睡个好觉。当市场稳定下来时，重新评估你所拥有的。不要在这样的日子里做出任何重大的财务决定。</blockquote></p><p> <b>2. If you’re afraid</b>: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.</p><p><blockquote><b>2. 如果你害怕</b>：放轻松。抛售最终会结束。没有理由恐慌。同样，当市场清醒过来时，重新评估你所拥有的东西。</blockquote></p><p> <b>3. If you’re unaffected:</b>Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.</p><p><blockquote><b>3. 如果您不受影响：</b>尽管如此，检查你的投资组合，以确保你是适当的多元化。虽然人们不在乎市场是否下跌，但一定要为最坏的情况做好对冲。总有一天会出现持续数月或数年的熊市。做好准备。</blockquote></p><p> <b>What specific actions should you take?</b></p><p><blockquote><b>你应该采取哪些具体行动？</b></blockquote></p><p> Now that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:</p><p><blockquote>既然你已经照顾好了自己的情绪健康，你还可以做出其他财务决定。让我们来看看一些可能有所帮助的战略和战术：</blockquote></p><p> <ol>  <li>Sell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard &amp; Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.</li>  <li>Create a long-term investment plan and follow it no matter what happens in the short term.</li>  <li>Dollar-cost average into index funds.</li>  <li>Diversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.</li>  <li>Buy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.</li>  <li>Sell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.</li> </ol> <b>Plan for the next correction or bear market</b></p><p><blockquote><ol><li>如果您拥有的股票或指数跌破 200 天移动平均线，请卖出。注：标准普尔 500SPX,-0.54% 等主要指数十年来从未跌破（并一直低于）其 200 天平均水平。当他们最终这样做时，这是一个明确的卖出信号。</li><li>制定一个长期投资计划，无论短期内发生什么，都要遵循它。</li><li>指数基金的美元成本平均值。</li><li>多样化。这是股市和人生成功的关键。如果您只拥有股票，请考虑债券，但在采取这一步之前请与金融专业人士（而不是您的邻居）交谈。</li><li>逢低买入。这个策略仍然有效。如果你在7月19日逢低买入，你就会在7月20日清理干净。总有一天，这种策略不会奏效，但那一天还没有到来。</li><li>出售备兑看涨期权期权。这仍然是一个产生额外收入的好方法。这种策略也是处理不需要的库存并获得报酬的理想选择。</li></ol><b>为下一次调整或熊市做好计划</b></blockquote></p><p> After a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.</p><p><blockquote>经过 13 年的牛市，美国股市的时间正在流逝。虽然多头这次又取得了胜利，但总有一天市场不会逆转方向，会开始大幅回调，甚至更糟的是，会进入熊市。这时，你会庆幸自己有一个计划和一个投资脚本，可以在最糟糕的日子里遵循。</blockquote></p><p> Know what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.</p><p><blockquote>了解自己拥有什么，卖出到 “睡个好觉 ”点，分散投资各种金融产品，包括现金和债券。这样，当市场再次暴跌时，你就不会做出情绪化的决定，也不会焦虑发作。</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>Here’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</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\">\nHere’s your to-do list before the stock market’s next dive<blockquote>以下是您在股市下一次暴跌前的待办事项清单</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.</p><p><blockquote>经过几个月的冬眠，股市空头于7月19日从洞穴中走了出来。当天，道琼斯工业平均指数JIA,-0.42%下跌725点，跌幅2.1%。熊队打出了本垒打——至少一天。</blockquote></p><p> As usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.</p><p><blockquote>和往常一样，每个人都想知道市场下跌的原因，分析师们也准备好了答案，从 COVID-19 的德尔塔变异毒株到消费者价格指数，再到超买的技术指标。</blockquote></p><p> The truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.</p><p><blockquote>事实是没人知道。人们出售的原因有很多，所以把责任归咎于一个事件是荒谬的。也就是说，导致销量下降的一个重要因素是自动的、计算机生成的销售。一旦大型市场参与者，尤其是算法，开始出售，就会出现疯狂的抢购潮。没有人愿意成为最后一个出局的人，因此零售商和机构在恐慌中抛售，随着时间的推移，恐慌变得更加强烈。</blockquote></p><p> Technical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.&nbsp; After the July 26 market close, the RSI of the S&amp;P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.</p><p><blockquote>技术指标也做出了贡献：每周相对强弱指标（RSI）在警告市场逆转方面非常准确。一旦RSI超过70并保持在那里，买家就要小心了。7月26日收盘后，标准普尔500SPX的RSI-0.54%在周线上为71.36，这是一个极度超买的读数。这是否意味着明天指数将暴跌？没人知道。但RSI给出了美国市场处于危险地带的线索。</blockquote></p><p> <b>The bad news bears can’t catch a break</b></p><p><blockquote><b>坏消息：熊队无法休息</b></blockquote></p><p> Before the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.</p><p><blockquote>空头还没来得及说 “我早就告诉过你 ”，第二天，也就是 7 月 20 日，道琼斯指数 700 多点的抛售就被道琼斯指数 550 点的反弹抹去了。公牛队忘记了抛售，重新开始庆祝，一杯接一杯地啜饮着他们最喜欢的饮料 “bull-ade”。风暴又一次过去了，但这一次，公牛队的心中却涌起了一丝恐惧。以前，唯一的恐惧就是害怕错过下一次集会。现在，许多投资者意识到市场实际上可能会下跌。</blockquote></p><p> <b>What to do now</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> The next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:</p><p><blockquote>下次市场暴跌时，您又经历了各种情绪，以下指南可能会有所帮助：</blockquote></p><p> <b>1. If you’re panicked</b>: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.</p><p><blockquote><b>1. 如果你惊慌失措</b>：不要做某事；坐那儿。不买，不卖，坐稳就行了。事实上，关闭电脑或其他设备。不要担心那天丢了多少纸币。锻炼，散步，跑步，游泳，骑自行车。你的目标是减少情绪，这样你就能睡个好觉。当市场稳定下来时，重新评估你所拥有的。不要在这样的日子里做出任何重大的财务决定。</blockquote></p><p> <b>2. If you’re afraid</b>: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.</p><p><blockquote><b>2. 如果你害怕</b>：放轻松。抛售最终会结束。没有理由恐慌。同样，当市场清醒过来时，重新评估你所拥有的东西。</blockquote></p><p> <b>3. If you’re unaffected:</b>Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.</p><p><blockquote><b>3. 如果您不受影响：</b>尽管如此，检查你的投资组合，以确保你是适当的多元化。虽然人们不在乎市场是否下跌，但一定要为最坏的情况做好对冲。总有一天会出现持续数月或数年的熊市。做好准备。</blockquote></p><p> <b>What specific actions should you take?</b></p><p><blockquote><b>你应该采取哪些具体行动？</b></blockquote></p><p> Now that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:</p><p><blockquote>既然你已经照顾好了自己的情绪健康，你还可以做出其他财务决定。让我们来看看一些可能有所帮助的战略和战术：</blockquote></p><p> <ol>  <li>Sell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard &amp; Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.</li>  <li>Create a long-term investment plan and follow it no matter what happens in the short term.</li>  <li>Dollar-cost average into index funds.</li>  <li>Diversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.</li>  <li>Buy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.</li>  <li>Sell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.</li> </ol> <b>Plan for the next correction or bear market</b></p><p><blockquote><ol><li>如果您拥有的股票或指数跌破 200 天移动平均线，请卖出。注：标准普尔 500SPX,-0.54% 等主要指数十年来从未跌破（并一直低于）其 200 天平均水平。当他们最终这样做时，这是一个明确的卖出信号。</li><li>制定一个长期投资计划，无论短期内发生什么，都要遵循它。</li><li>指数基金的美元成本平均值。</li><li>多样化。这是股市和人生成功的关键。如果您只拥有股票，请考虑债券，但在采取这一步之前请与金融专业人士（而不是您的邻居）交谈。</li><li>逢低买入。这个策略仍然有效。如果你在7月19日逢低买入，你就会在7月20日清理干净。总有一天，这种策略不会奏效，但那一天还没有到来。</li><li>出售备兑看涨期权期权。这仍然是一个产生额外收入的好方法。这种策略也是处理不需要的库存并获得报酬的理想选择。</li></ol><b>为下一次调整或熊市做好计划</b></blockquote></p><p> After a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.</p><p><blockquote>经过 13 年的牛市，美国股市的时间正在流逝。虽然多头这次又取得了胜利，但总有一天市场不会逆转方向，会开始大幅回调，甚至更糟的是，会进入熊市。这时，你会庆幸自己有一个计划和一个投资脚本，可以在最糟糕的日子里遵循。</blockquote></p><p> Know what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.</p><p><blockquote>了解自己拥有什么，卖出到 “睡个好觉 ”点，分散投资各种金融产品，包括现金和债券。这样，当市场再次暴跌时，你就不会做出情绪化的决定，也不会焦虑发作。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/heres-your-to-do-list-before-the-stock-markets-next-dive-11627360870?mod=article_inline\">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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/heres-your-to-do-list-before-the-stock-markets-next-dive-11627360870?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127411624","content_text":"After hibernating for months, the stock-market bears came out of their caves on July 19. That day, the Dow Jones Industrial AverageDJIA,-0.42%tumbled 725 points or 2.1%. The bears hit a home run — at least for a day.\nAs usual, everyone wanted to know why the market fell, and the analysts had prepared answers, from COVID-19’s Delta variant to the Consumer Price Index to overbought technical indicators.\nThe truth is that nobody knows. People have multiple reasons for selling, so it’s ridiculous to blame one event. That said, a big contributor to the decline was automatic, computer-generated selling. Once large market participants, especially algos, started selling, there was a mad rush out of the door. No one wanted to be the last one out, so retail traders and institutions sold in a panic, which got more intense as the day went on.\nTechnical indicators contributed as well: The weekly relative strength indicator (RSI) has been remarkably accurate in warning of a market reversal. Once RSI goes over 70 and stays there, buyers beware.  After the July 26 market close, the RSI of the S&P 500SPX,-0.54%stood at 71.36 on the weekly chart — an extremely overbought reading. Does this mean that the index is going to plunge tomorrow? No one knows. But RSI is giving a clue that the U.S. market is in the danger zone.\nThe bad news bears can’t catch a break\nBefore the bears could say, “I told you so,” the next day, July 20, the 700-plus point Dow selloff was erased by a 550-point Dow rally. The bulls forgot about the selloff and returned to celebrating, and gulping glass after glass of their favorite drink, “bull-ade.” Once again, the storm passed, but this time a little fear creeped into the bulls’ psyche. Before, the only fear was the fear of missing out on the next rally. Now, many investors realize the market can actually go down.\nWhat to do now\nThe next time the market plunges and you’re experiencing a variety of emotions, the following guide might help:\n1. If you’re panicked: Don’t do something; sit there. Do not buy, do not sell, just sit tight. In fact, turn off the computer or other devices. Don’t fret over how much paper money you lost that day. Exercise, walk, run, swim, ride a bike. Your goal is to reduce emotions so you can get a good night’s sleep. When the market stabilizes, reevaluate what you own. Do not make any big financial decisions on days like this.\n2. If you’re afraid: Take it easy. The selloff will end eventually. There is no reason to panic. Again, reevaluate what you own when the market comes to its senses.\n3. If you’re unaffected:Still, check your portfolio to make sure you are properly diversified. While it’s find to not care if the market falls, be sure you are hedged for a worst-case scenario. One day there will be a bear market that will last months or years. Be prepared.\nWhat specific actions should you take?\nNow that you’ve taken care of your emotional health, there are other financial decisions you can make. Let’s take a look atsome strategies and tacticsthat may help:\n\nSell if the stocks or indexes you own fall below their 200-day moving averages. Note: The major indexes such as the Standard & Poor’s 500SPX,-0.54%have not fallen below (and stayed below) their 200-day averages for a decade. When they do eventually, that is a clear sell signal.\nCreate a long-term investment plan and follow it no matter what happens in the short term.\nDollar-cost average into index funds.\nDiversify. This is the key to success in the stock market and in life. If you own only stocks, consider bonds, but talk to a financial professional (not your neighbor) before taking this step.\nBuy the big dips. This strategy still works. If you had bought the dip on July 19, you would have cleaned up on July 20. One day this strategy won’t work, but that day hasn’t come yet.\nSell covered-call options. This is still an excellent way to generate extra income. This strategy is also ideal for disposing of unwanted stocks, and getting paid for it.\n\nPlan for the next correction or bear market\nAfter a 13-year bull market, the clock is ticking for U.S. stocks. While the bulls scored another victory this time, one day the market won’t reverse direction and will begin a steep correction, or worse yet, a bear market. That’s when you will be glad that you have a plan and an investment script to follow on the worst days.\nKnow what you own, sell to the “sleep-well” point and diversify into a variety of financial products including cash and bonds. This way, when the market plunges again, you won’t make knee-jerk emotional decisions or suffer an anxiety attack.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178094031,"gmtCreate":1626770478323,"gmtModify":1633771200910,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Go tesla!","listText":"Go tesla!","text":"Go tesla!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/178094031","repostId":"1173914774","repostType":4,"isVote":1,"tweetType":1,"viewCount":2250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142890865,"gmtCreate":1626139625357,"gmtModify":1631884321935,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Hope it just a beginning&nbsp;","listText":"Hope it just a beginning&nbsp;","text":"Hope it just a beginning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142890865","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","kind":"news","pubTimestamp":1626126339,"share":"https://www.laohunote.com/m/news/1119839711?lang=zh_CN&edition=full","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></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>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</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\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings<blockquote>道琼斯指数以微弱劣势错失首次收盘价 35,000 点，但所有 3 个股指均在银行财报公布前连续创纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-13 05:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Dow ends just shy of 35,000 milestone.</b>  The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p><p><blockquote><b>道琼斯指数最终仅接近 35,000 点里程碑。</b>道琼斯工业平均指数、标普500指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>周一的综合指数连续创下历史新高，本周开始时与上周结束时相同。</blockquote></p><p> The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p><p><blockquote>创纪录的结束是在投资者等待美联储主席杰罗姆半年一次的证词之际<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>从周三开始，本周将发布一系列经济报告，企业季度业绩的非官方开始。</blockquote></p><p> <b>How did stock benchmarks end?</b></p><p><blockquote><b>股票基准是如何结束的？</b></blockquote></p><p> <ul>  <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>  <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>  <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li> </ul> On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p><p><blockquote><ul><li>道琼斯工业平均指数（DJIA）上涨 126.02 点，涨幅 0.4%，收于创纪录的 34,996.18 点。</li><li>标普500指数SPX,+0.35%上涨15.08点，即0.4%，收于创纪录的4,384.63点，此前触及盘中高点4,386.68点。</li><li>纳斯达克综合指数COMP,+0.21%上涨31.32点，即0.2%，收于创纪录的14,733.24点，盘中创下历史新高14,761.08点。</li></ul>周五，道琼斯指数和标普500指数收盘创下历史新高，周涨幅分别约为0.2%和0.4%。纳斯达克综合指数本周收盘创下历史新高，周涨幅为 0.4%。</blockquote></p><p> <b>What drove the market?</b></p><p><blockquote><b>是什么推动了市场？</b></blockquote></p><p> Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p><p><blockquote>周一，主要股指连续上涨至收盘纪录。这一上涨发生在本周晚些时候可能成为催化剂的一系列关键事件之前，其中包括财报季的非官方开始，这<b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>公司</b>.JPM,+1.43% 将于周二开盘，鲍威尔在国会大厦作证<a href=\"https://laohu8.com/S/HIL\">山丘</a>以及有关通胀的最新数据。</blockquote></p><p> “People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p><p><blockquote>“人们认为盈利将会强劲，这可能会推动市场走高，”该公司董事约翰-凯里（John Carey）说。<a href=\"https://laohu8.com/S/EQR\">公平</a>Amundi U.S. 的收入，并补充说，就目前而言，盈利掩盖了不确定性<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>超出计划的基础设施支出和潜在的更高的公司税。</blockquote></p><p> “Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p><p><blockquote>“凯里告诉 MarketWatch：”大多数人似乎都关注经济的实力以及更好的盈利来支撑股价的可能性，而股价肯定处于高位。</blockquote></p><p> Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p><p><blockquote>股市上周经历了一轮动荡，随后以繁荣告终，部分原因是国债收益率下降。政府债务利率下限引发了人们对美国经济从疫情中复苏前景的质疑。新冠肺炎德尔塔变异毒株的传播已经成为一个令人担忧的问题，但分配给某些细分市场的高估值也是一个令人担忧的问题。</blockquote></p><p> Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p><p><blockquote>面对越来越多的通胀渗透证据，对美联储货币政策的质疑也被归咎于一些不稳定的交易。</blockquote></p><p> Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p><p><blockquote>10年期MUBMUSD10Y,1.365%收益率周一小幅上涨不到一个基点至1.362%，而30年期国债收益率STMUBMUSD30Y,2.000%上涨1.2个基点至1.993%，接近2月份的低点。</blockquote></p><p> Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p><p><blockquote>纽约联邦储备银行行长约翰<a href=\"https://laohu8.com/S/WMB\">威廉姆斯</a>周一对记者表示，缩减每月 1200 亿美元债券购买刺激计划的条件尚未满足。</blockquote></p><p> Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p><p><blockquote>尽管对通货膨胀和增长峰值的担忧继续渗透并困扰着美国家庭，但一些策略师表示，这些担忧可能对市场来说 “过度炒作”。</blockquote></p><p> “Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p><p><blockquote>“由杰森-普莱德（Jason Pride）和迈克尔-雷诺兹（Michael Reynolds）领导的格伦米德团队在周一的一份报告中写道：”之前对通胀的担忧和当前对增长峰值的担忧都可能是对近期趋势的过度推断反映，不会持续下去。</blockquote></p><p> “Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p><p><blockquote>“在从大流行病中持续复苏的过程中，市场可能会继续波动，因为它们试图适应快速变化的信息流”，但这些因素 “从长远来看不应扰乱市场”。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>也一直在关注三角洲驱动的COVID感染。美国以 3385 万例 COVID 病例和 607,156 例死亡病例位居世界第一。安东尼-福奇（Anthony Fauci）博士周一表示，目前不需要加强剂，但在周日接受美国有线电视新闻网（CNN）采访时表示，看到保守派为低疫苗接种率欢呼，并指责 “意识形态僵化 ”阻碍了抗击大流行病的斗争，这令人 “恐惧”。</blockquote></p><p> “We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p><p><blockquote>“本-梅（Ben May）说：”我们早就警告说，接种疫苗不太可能引发向正常的平稳过渡。<a href=\"https://laohu8.com/S/OXM\">牛津</a>《经济学》全球宏观研究总监周一写道。</blockquote></p><p> No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p><p><blockquote>在经济报告繁忙的一周之前，周一没有关键数据公布，首先是周二的消费者价格读数。</blockquote></p><p> Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p><p><blockquote>另外，投资者还关注了20国集团财长之间的讨论，他们正试图评估全球最低税提案的潜在影响。</blockquote></p><p></p><p> “We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p><p><blockquote>“美国财政部长珍妮特-耶伦（Janet Yellen）在就修改国际企业税法向欧盟国家发表讲话时说：”我们需要可持续的收入来源，而不是依赖于对工人工资进一步征税和加剧我们都致力于减少的经济差距。</blockquote></p><p> “We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p><p><blockquote>“她说：”我们需要杜绝企业将资本收入转移到低税收管辖区，杜绝允许企业逃避支付公平份额的会计噱头。</blockquote></p><p> <b>Which companies were in focus?</b></p><p><blockquote><b>哪些公司成为焦点？</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>  <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>  <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>  <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>  <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>  <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>  <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li> </ul> <b>How did other assets trade?</b></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/AVGO\">博通</a>公司</b>.AVGO,+1.16%周一，《华尔街日报》报道这家芯片和软件公司正在洽谈收购 SAS Institute Inc.，此前该公司股价上涨 1.2%，交易估值可能达到 150 亿至 200 亿美元。</li><li><b><a href=\"https://laohu8.com/S/AAPL\">苹果</a>公司</b>.AAPL,-0.42% 特拉华州联邦法官驳回了 Blix Inc. 的诉讼，称该诉讼未能证明苹果如何损害移动操作系统市场的竞争，一天后，AAPL 股价下跌 0.4%。</li><li><b><a href=\"https://laohu8.com/S/LB\">L品牌公司</a></b>.LB,+4.16% 表示，该公司将于下个月拆分为两家上市业务，维多利亚的秘密公司（Victoria's Secret&amp;Co.）的内衣部门将更名为 “VSCO”，而 Bath &amp; BodyWorks Inc. 从 8 月 3 日开始，股票代码为 “BBWI ”。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a>公司</b>.GME,-1.04%股价周一下跌1%，此前Ascendiant Capital Markets将其12个月目标价从10美元上调至25美元，但仍远低于该公司周一189.25美元的收盘价。</li><li>韦伯是户外烤架的制造商，在其标志性的圆顶状烤架问世近 50 年后，该公司已申请上市。股份将于<a href=\"https://laohu8.com/S/NWY\">纽约</a>股票代码为WEBR的证券交易所。</li><li>股份<b><a href=\"https://laohu8.com/S/SPCE.WS\">维珍银河控股公司</a>.</b>SPCEskid 周一下跌 17.3%，这是自 2020 年 3 月 16 日以来最大的单日百分比跌幅，一天前，创始人理查德-布兰森（Richard Branson）和五名机组人员乘坐该公司的 VSS 成功飞入亚轨道空间。<a href=\"https://laohu8.com/S/UNTY\">团结</a>火箭动力航天飞机。</li><li><b>沙发基地公司</b>企业应用数据库提供商BASE周一确定了首次公开募股的条款，计划发行700万股股票，每股定价20至23美元。该公司已申请在纳斯达克上市，股票代码为 “BASE”。</li><li>股份<b>现代公司</b>该公司表示将向阿根廷供应 2000 万剂 COVID-19 疫苗，周一上涨 2.8%。</li><li>股份<b><a href=\"https://laohu8.com/S/SWI\">太阳风公司</a>.</b>SWI 周一下跌 1.8%，尽管这家信息技术基础设施管理软件公司提供了乐观的第二季度收入前景。</li></ul><b>其他资产是如何交易的？</b></blockquote></p><p> <ul>  <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>  <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>  <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>  <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li> </ul></p><p><blockquote><ul><li>ICE 美元指数 DXY（衡量美元兑六大主要竞争对手的指标）上涨 0.1%。</li><li>石油期货周一收低，美国基准CL00 CL.1,-0.51%下跌0.6%，收于每桶74.10美元。黄金 GC00 收盘下跌 0.3%，至每盎司 1,805.90 美元。</li><li>欧洲股市方面，斯托克欧洲 600 SXXP 指数收盘上涨 0.7%，伦敦<a href=\"https://laohu8.com/S/.100.UK\">富时100</a>UKX 周一收盘上涨 0.05%。</li><li>在<a href=\"https://laohu8.com/S/00662\">亚洲</a>周一，上证综指上涨 0.7%，香港恒生指数恒生指数上涨 0.6%，日本日经 225 NIK 指数上涨 2.3%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142018073,"gmtCreate":1626103475192,"gmtModify":1633930069340,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142018073","repostId":"2150580297","repostType":4,"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":173912385,"gmtCreate":1626598146547,"gmtModify":1633925568509,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173912385","repostId":"1139907709","repostType":4,"repost":{"id":"1139907709","kind":"news","pubTimestamp":1626568617,"share":"https://www.laohunote.com/m/news/1139907709?lang=zh_CN&edition=full","pubTime":"2021-07-18 08:36","market":"hk","language":"en","title":"Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139907709","media":"Benzinga","summary":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Q","content":"<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一名名叫托马斯·F·奎因的美国侨民，罪名是策划了一项全球证券计划，骗取了投资者5亿美元。作为……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</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\">\nWall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World<blockquote>华尔街犯罪与惩罚：托马斯·F·奎因的疯狂、疯狂、疯狂、疯狂的世界</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-07-18 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Does crime pay? In August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million. As ...</p><p><blockquote><div>犯罪有报酬吗？1988年8月，法国当局逮捕了一名名叫托马斯·F·奎因的美国侨民，罪名是策划了一项全球证券计划，骗取了投资者5亿美元。作为……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139907709","content_text":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.\nIllusory Assets For Sale:Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.\nQuinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.\nQuinn opted to go into business for himself, starting a brokerage firm in New York called Thomas, Williams & Lee.The main focus of this firm became the promotion of Kent Industries,a company that claimed to own Florida property valued at $2 million.\nThere was a slight problem — Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).\nLong story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”\nThe U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.\nA Job With The Mob:Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”\nQuinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,Sundance Gold Mining and Aquarius Gold Exploration, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the Genovese crime family.\nThe SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.\nThree years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.\nThe FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.\nRealizing that he wore out his welcome in his home country, Quinn and his common-law wife Rochelle Rothfleisch decided to relocate to France and to up his game to an unprecedented operation.\nBoiler Room Follies:The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.\nQuinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.\nEach office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.\nThe investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.\nQuinn’s henchmen would telephone the investors — nearly all of whom were novices to investing — and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.\nQuinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.\nA Temporary Setback: In 1988, Quinn’s arrest in France saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.\nFor starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up. Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered Bank of Credit and Commerce International in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.\nAlso, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.\nThe SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C. with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.\nIn France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.\nHe came to trial in 1991 and was only sentenced to four years in prison, but his sentence was reduced to include time served and he was extradited to Switzerland.\nHis Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.\nAn Eventual Stumble:One of Quinn’s neighbors in Greenwich wasMartin Frankel,a financier with his own addiction to swindling.\nIn 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies — but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.\nFrankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.\nFor most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.\nIn 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)\nIn November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.\nQuinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.\nWhat became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.\nOne information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.\nQuinn rarely spoke to anyone about his criminal activities. During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.\n\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145524929,"gmtCreate":1626231771761,"gmtModify":1633928784203,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Temporary&nbsp;","listText":"Temporary&nbsp;","text":"Temporary","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145524929","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148540030,"gmtCreate":1625993748720,"gmtModify":1633931024766,"author":{"id":"3581110729198958","authorId":"3581110729198958","name":"DavvYap","avatar":"https://static.tigerbbs.com/f75b2c15bfca19a3ad5b7b35d7458d51","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581110729198958","idStr":"3581110729198958"},"themes":[],"title":"","htmlText":"Good view of point!","listText":"Good view of point!","text":"Good view of point!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148540030","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","kind":"news","pubTimestamp":1625886925,"share":"https://www.laohunote.com/m/news/1185154176?lang=zh_CN&edition=full","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</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>The bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</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\">\nThe bull market in stocks may last up to five years — here are six reasons why<blockquote>股市牛市可能会持续长达五年——以下是六个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-07-10 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p><p><blockquote>经济正在蓬勃发展，收入正在上升，美联储正在提供前所未有的支持</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（照片由豪尔赫·格雷罗/法新社通过盖蒂图片社提供）</span></p></blockquote></p><p> When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p><p><blockquote>当股市抛售时，就像周四一样，正确的做法是购买你最喜欢的股票。周五的市场走势证明了这一点。</blockquote></p><p> It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p><p><blockquote>鉴于标普500指数今年已经上涨了 17%，确实可能会出现调整。但你也应该买。</blockquote></p><p> Here’s why.</p><p><blockquote>原因如下。</blockquote></p><p> We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p><p><blockquote>由于以下六个原因，我们仍处于三到五年股市牛市的早期阶段。</blockquote></p><p> <b>1. There’s tremendous pent-up demand</b></p><p><blockquote><b>1. 存在巨大的被压抑的需求</b></blockquote></p><p> Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p><p><blockquote>每个人都在向美联储寻求有关刺激的线索。他们忽视了将推高股市的私营部门力量。综上所述，私营部门被压抑的巨大需求将有助于推动美国今年的 GDP 增长率达到 8%，之后几年将达到 3.5%-4.5%。Leuthold 集团首席策略师兼经济学家吉姆·保尔森 (Jim Paulsen) 指出，被压抑的需求来自以下来源。</blockquote></p><p> First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p><p><blockquote>首先，随着千禧一代进入家庭年龄，家庭组建激增。这有助于解释国内需求的大幅增长。一旦你买了房子，你就得把它装满东西。更多的消费者需求即将到来。</blockquote></p><p> Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p><p><blockquote>在幕后，消费者有大量未动用的储蓄，因为他们为疫情蹲下身子。个人储蓄率达到GDP的近16%，而战后平均水平为6.5%。之前的高点是20世纪70年代的10%。</blockquote></p><p> Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p><p><blockquote>与此相关的是，家庭资产负债表明显改善。债务收入比是20世纪90年代以来的最低水平。随着就业和经济保持强劲，消费者的信心增强，他们将继续利用更多的银行贷款和信用卡容量。</blockquote></p><p> Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p><p><blockquote>接下来，一旦额外的失业救济金在9月份到期，将会有更多的新就业人口。这意味着消费者信心将会改善，这无疑会促进经济增长。劳动力参与率还有提高的空间，在我们实现充分就业之前留下多余的就业能力，从而限制经济增长。</blockquote></p><p> Now let’s look at the pent-up demand in businesses.</p><p><blockquote>现在让我们来看看企业中被压抑的需求。</blockquote></p><p> You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p><p><blockquote>你知道你经常遇到或听到的所有东西的短缺吗？这就是为什么会发生这种情况。为了应对长期的流行病，企业大幅削减库存。这是有史以来最大的库存清算。但现在，公司不得不重建库存。正在进行的库存重建将是巨大的。</blockquote></p><p> Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p><p><blockquote>公司还削减了产能，并正在再次扩大产能。资本货物支出在过去二十年的大部分时间里基本持平后，去年飙升至历史新高，增长了近 23%。这创造了持续增长，并告诉我们很多关于商业信心的信息。</blockquote></p><p> <b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p><p><blockquote><b>底线</b>今年GDP将增长7%-8%，明年将增长4%-4.5%，之后将高于平均水平，支撑股市持续牛市。期待一路上的正常修正。</blockquote></p><p> <b>2. An under-appreciated earnings boom lies ahead</b></p><p><blockquote><b>2. 被低估的盈利繁荣即将到来</b></blockquote></p><p> The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p><p><blockquote>经济反弹发生得太快了，分析师们都跟不上了。华尔街分析师预计标普500今年每股收益为 190 美元。但考虑到预期的7%-8%的GDP增长和尚未生效的大规模刺激措施，这一数字低得可怜。刺激措施通常需要六到八个月才能生效，而最近的许多波动都发生在这个时间窗内。</blockquote></p><p> Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p><p><blockquote>保尔森预计 2021 年标普500盈利将更接近 220 美元，而不是普遍预期的 190 美元。</blockquote></p><p> “Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p><p><blockquote>“保尔森说：”分析师仍然低估了利润已经提高了多少，以及利润将提高多少。“我们的政策官员反应过度。他们解决了崩盘问题，但基本面却有了巨大的改善。就利润复苏而言，这种情况仍在上演”。</blockquote></p><p> Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p><p><blockquote>此外，更多的财政刺激可能即将以基础设施支出的形式出台。</blockquote></p><p> <b>3. There’s a new Fed in town</b></p><p><blockquote><b>3. 镇上有了新的美联储</b></blockquote></p><p> For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p><p><blockquote>在过去三十年的大部分时间里，美联储一直在迅速收紧政策以抵御通货膨胀。在这个过程中，央行扼杀了增长。这也是过去 20 年是战后增长最慢的原因之一。然而，现在美联储更加宽松，这种情况可能会持续下去，因为通胀将保持低迷（更多内容见下文）。</blockquote></p><p></p><p> Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p><p><blockquote>这里有一个简单的量规来衡量这一点。以 GDP 增长为例，减去 10 年期国债收益率 ESTMUBMUSD10Y，1.359%。该指标在 1980 年至 2010 年的大部分时间里都是负值，当时美联储保持增长冷静以遏制通胀。然而现在，美联储的政策正在帮助将 10 年期国债收益率保持在远低于 GDP 增长率的水平，这使得经济过热。这就是 1950-1965 年期间的情况，一些分析家称看涨期权为 “资本主义的黄金时代”，因为它在增长过程中出现了滑坡。</blockquote></p><p> <b>4. Inflation won’t kill the bull</b></p><p><blockquote><b>4. 通货膨胀不会杀死牛市</b></blockquote></p><p> Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p><p><blockquote>由于经济如此火爆，通货膨胀在短期内可能会上升。但从中期来看，通胀杀手将获胜。以下是综述。人口老龄化，老年人消费减少。商业资本支出的激增将继续提高公司的生产力。这使他们能够避免将不断上涨的成本转嫁给客户。全球贸易和竞争并没有消失。这给价格带来了下行压力，因为在许多外国可以更便宜地生产商品。持续的技术进步不断给科技产品带来下行压力。</blockquote></p><p> <b>5. Valuations will improve</b></p><p><blockquote><b>5.估值将改善</b></blockquote></p><p> We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p><p><blockquote>我们现在正处于经济反弹阶段，通常会出现以下动态。几个月来，股市一直横盘整理，主要是因为对通货膨胀和债券收益率上升的担忧。与此同时，经济和盈利持续增长，降低了股票估值。这种动态在1983-84年、1993-94年、2004-05年和2009-10年的经济反弹中大约在这一点上表现出来。简而言之，当股市标记时间，甚至回调时，我们将看到盈利大幅飙升。</blockquote></p><p> This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p><p><blockquote>这将使股票估值降低，消除投资者的主要担忧之一——高估值。如果标普500的盈利在今年年底达到 220 美元，并且该指数因调整而处于 4,000 至 4,100 点，那么股票的市盈率将为 18-19，低于 1990 年以来的平均水平。</blockquote></p><p> True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p><p><blockquote>一如既往，道琼斯工业平均指数 (DJIA) 和罗素 2000 小型股指数已经横盘整理了两到四个月。标普500和纳斯达克最近突破了交易区间，但更大的回调将使它们回到横盘整理模式。</blockquote></p><p> <b>6. Sentiment isn’t extreme</b></p><p><blockquote><b>6. 情绪并不极端</b></blockquote></p><p> As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p><p><blockquote>作为一个逆向投资者，我认为过度的情绪是时候筹集一些现金了。我们还没看到。一个简单的衡量标准是投资者情报牛熊比率。它最近的价格是3.92。那是在警告路径附近，对我来说，警告路径是从 4 点开始的。另一方面，共同基金现金最近达到 4.6 万亿美元，接近历史高位。这代表了投资者的谨慎。</blockquote></p><p> <b>Three themes to follow</b></p><p><blockquote><b>遵循的三个主题</b></blockquote></p><p> If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p><p><blockquote>如果我们即将迎来经济持续复苏和股市多年牛市，那么遵循这三个主题将是值得的。</blockquote></p><p> <b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p><p><blockquote><b>青睐周期性产品。</b>持有对经济敏感的业务，并在回调时增持这些业务。这意味着金融、材料、工业和非必需消费品业务等领域的周期性公司。</blockquote></p><p> <b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p><p><blockquote><b>避免防御。</b>如果你想要收益率，那就选择支付股息但也有资本增值潜力的股票——而不是销售必需品等商品的稳定增长公司。关于这个主题，在我的股票信中（链接在下面的简介中），我最近建议或重申了家得宝（Home Depot）在零售业、B. Riley Financial（一家市场和投资银行公司）以及消费金融领域的区域管理。</blockquote></p><p> <b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p><p><blockquote><b>青睐新兴市场。</b>在扩张期间，它们的增长往往会更高。小心中国。它的人口老龄化。有限的劳动力增长可能会限制经济增长。另一个挑战是，持续的中美紧张局势以及持续关税和贸易壁垒的相关威胁迫使全球公司将供应链转移到其他地方。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":930,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}