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KennethAng08

KennethAng08

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2021-08-06

can I get a like please

抱歉，原内容已删除

2021-08-06

can I get a like please

20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>

2021-08-06

can I get a like please

"Enough For Tapering To Start": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</blockquote>

2021-08-01

hi

抱歉，原内容已删除

2021-05-29

$Chewy, Inc.(CHWY)$nice

2021-05-29

$Chewy, Inc.(CHWY)$to the moon

2021-05-25

yes

How a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</blockquote>

去老虎APP查看更多动态

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I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893203813","repostId":"1187701368","repostType":4,"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893203388,"gmtCreate":1628262140344,"gmtModify":1633752126068,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"can I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/893203388","repostId":"1155656235","repostType":4,"repost":{"id":"1155656235","kind":"news","pubTimestamp":1628227304,"share":"https://www.laohunote.com/m/news/1155656235?lang=zh_CN&edition=full","pubTime":"2021-08-06 13:21","market":"us","language":"en","title":"20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155656235","media":"MarketWatch","summary":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales ","content":"<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</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>20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</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\">\n20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?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":{"TSLA":"特斯拉","DKNG":"DraftKings Inc.","SHOP":"Shopify Inc","ZG":"Zillow Class A","Z":"Zillow","SNAP":"Snap Inc","ROKU":"Roku Inc","PDD":"拼多多","PINS":"Pinterest, Inc.","MELI":"MercadoLibre","OKTA":"Okta Inc.","SE":"Sea Ltd","KC":"金山云","ADYEY":"Adyen N.V.","TDOC":"Teladoc Health Inc.","COIN":"Coinbase Global, Inc.","CRWD":"CrowdStrike Holdings, Inc.","VCYT":"Veracyte Inc"},"source_url":"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155656235","content_text":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)\nU.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.\nCloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.\nBelow is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.\nTo begin the screen, we looked at the five largest cloud ETFs:\nSource: FactSet\nETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.\nHere’s a comparison of total returns through Aug. 4, along with those for the SPDR S&P 500 ETF and the Invesco QQQ Trust (which tracks the Nasdaq-100 Index) for comparison:\nSource: FactSet\nThe ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.\nAnother holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.\nAs part of its description of ARKW, FactSet says the following:\n“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”\nCloud-stock screen\nTogether, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)\nTo make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.\nHere are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:\n\nSource: FactSet\nThere are actually 21 stocks listed, including Zillow Group Inc.’s Class A and Class C shares.\nIt is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.\nHere are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.\n\nSource: FactSet\nIn comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.","news_type":1,"symbols_score_info":{"SQ":0.9,"SNAP":0.9,"ADYEY":0.9,"TSLA":0.9,"SKLZ":0.9,"CRWD":0.9,"MELI":0.9,"OKTA":0.9,"LC":0.9,"SE":0.9,"PDD":0.9,"DKNG":0.9,"SHOP":0.9,"ZG":0.9,"PINS":0.9,"KC":0.9,"ROKU":0.9,"TDOC":0.9,"VCYT":0.9,"Z":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893209738,"gmtCreate":1628262126724,"gmtModify":1633752126318,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"can I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893209738","repostId":"1145298738","repostType":4,"repost":{"id":"1145298738","kind":"news","pubTimestamp":1628259150,"share":"https://www.laohunote.com/m/news/1145298738?lang=zh_CN&edition=full","pubTime":"2021-08-06 22:12","market":"us","language":"en","title":"\"Enough For Tapering To Start\": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145298738","media":"zerohedge","summary":"With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just o","content":"<p>With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.</p><p><blockquote>就业报告显示，企业调查中的就业岗位略低于 100 万个（家庭调查中的就业岗位略高于 100 万个），就业创造强劲，失业率大幅下降，就业人口比率上升，工资和工作时间上涨，以及有利的修正，至少从市场反应来看，共识是我们已经进入了“实质性进展”阶段，为美联储在本月底杰克逊霍尔研讨会期间发出的缩减规模信号开了绿灯。</blockquote></p><p> And yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</p><p><blockquote>然而，还有一个潜在的障碍：三角洲的激增以及随之而来的限制和/或封锁： 正如德美利证券（TD Ameritrade）的 JJ Kinahan 所说：“由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业岗位和经济都在增长--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度增长。现在看来会的。”</blockquote></p><p> Do others agree? Below we have excerpted some analyst and strategist reactions to today's report.</p><p><blockquote>其他人同意吗？下面我们摘录了一些分析师和策略师对今天报告的反应。</blockquote></p><p> <b>Katherine Judge, CIBC Capital Markets:</b></p><p><blockquote><b>CIBC 资本市场 Katherine Judge：</b></blockquote></p><p>   <i>“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”</i>  <b>Chris Turner, head of foreign exchange strategy at ING Bank:</b></p><p><blockquote><i>“由于许多州的失业救济金补贴将于 9 月初到期，健康的就业增长应与职位空缺的增加保持一致。这一数字应足以让美联储在 9 月份的会议上宣布在 2022 年初缩减量化宽松政策。”</i><b>荷兰国际集团银行外汇策略主管克里斯·特纳：</b></blockquote></p><p>   <i>The stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”</i>  <b>Carl Riccadonna, Bloomberg Intelligence economist:</b></p><p><blockquote><i>强于预期的就业报告使得美联储主席杰罗姆-鲍威尔（Jerome Powell）更有可能在本月晚些时候的杰克逊霍尔研讨会上 “暗示”美联储可能准备在未来几个月开始缩减规模。该数据对美元兑日元和欧元等低收益货币有利。尽管如此，美元的前景“不一定会损害风险环境……除非美国 10 年期国债收益率大幅飙升，否则高收益新兴市场货币应该会在下跌时看到需求”。</i><b>彭博情报经济学家卡尔·里卡多纳：</b></blockquote></p><p>   <i>The jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.</i>  <i><b>This tells us that underlying economic momentum is steady-state, not accelerating.”</b></i>  <b><i>Neil Dutta, economist at Renaissance Macro</i></b>:</p><p><blockquote><i>就业报告 “稳健，但并不像看起来那么强劲”。他说，除了私营部门招聘速度略有放缓（7 月份为 703,000 人，6 月份为 769,000 人）之外，7 月份的大部分增长都发生在脆弱的休闲和酒店业，而且由于 Covid-19，这种情况很容易逆转。这在OpenTable预订等指标中似乎已经很明显了。“因此，如果我们看看休闲和酒店业以外的私营部门招聘情况，今天报告的增幅为 32.3 万人，略低于上月的 37.5 万人。</i><i><b>这告诉我们，潜在的经济动能是稳定的，而不是加速的。”</b></i><b><i>Neil Dutta，Renaissance Macro 经济学家</i></b>:</blockquote></p><p>   <i>The FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”&nbsp; Tapering, in that event, could begin as early as December.</i>  <b>JJ Kinahan, chief market strategist at TD Ameritrade:</b></p><p><blockquote><i>联邦公开市场委员会可能会在 9 月份的声明中升级措辞，称经济 “有望取得实质性进一步进展”，这将导致 “最早在 11 月 ”宣布取得实质性进一步进展。在这种情况下，缩减规模最早可能在 12 月开始。</i><b>德美利证券首席市场策略师 JJ Kinahan：</b></blockquote></p><p>   <i>“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</i>  <b>Roberto Perli, head of global policy research at Cornerstone Macro:</b></p><p><blockquote><i>“这是一个很棒的数字，这是无法回避的，这真的是一个令人印象深刻的数字。但我认为，如果我们没有新的德尔塔变异毒株，我们会讨论的话题是，这是否会导致通货膨胀，这是否意味着我们将进入缩减通货膨胀等等。但由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业和经济都在发展--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度发展。现在看来会的。”</i><b>Cornerstone Macro 全球政策研究主管 Roberto Perli：</b></blockquote></p><p>   <i>“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.&nbsp; That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.&nbsp; It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”</i> </p><p><blockquote><i>“美联储将在9月会议前再发布一份就业报告。假设情况也不错，那么一个合理的基本情况是，联邦公开市场委员会在 9 月份的会议上表示，劳动力市场继续取得良好进展，如果进展继续以最近的速度进行，委员会将能够在未来几个月内开始缩减资产购买规模。这将使缩减资产购买规模的开始时间在 12 月底或 1 月初。“因此，我认为时间表保持不变。9 月份开始缩减资产规模很难，因为这既违背了 7 月份声明中'即将召开会议'（复数）的措辞，也违背了联邦公开市场委员会在实际开始缩减资产规模之前会提供充分通知的理念。”</i></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Enough For Tapering To Start\": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-08-06 22:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.</p><p><blockquote>就业报告显示，企业调查中的就业岗位略低于 100 万个（家庭调查中的就业岗位略高于 100 万个），就业创造强劲，失业率大幅下降，就业人口比率上升，工资和工作时间上涨，以及有利的修正，至少从市场反应来看，共识是我们已经进入了“实质性进展”阶段，为美联储在本月底杰克逊霍尔研讨会期间发出的缩减规模信号开了绿灯。</blockquote></p><p> And yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</p><p><blockquote>然而，还有一个潜在的障碍：三角洲的激增以及随之而来的限制和/或封锁： 正如德美利证券（TD Ameritrade）的 JJ Kinahan 所说：“由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业岗位和经济都在增长--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度增长。现在看来会的。”</blockquote></p><p> Do others agree? Below we have excerpted some analyst and strategist reactions to today's report.</p><p><blockquote>其他人同意吗？下面我们摘录了一些分析师和策略师对今天报告的反应。</blockquote></p><p> <b>Katherine Judge, CIBC Capital Markets:</b></p><p><blockquote><b>CIBC 资本市场 Katherine Judge：</b></blockquote></p><p>   <i>“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”</i>  <b>Chris Turner, head of foreign exchange strategy at ING Bank:</b></p><p><blockquote><i>“由于许多州的失业救济金补贴将于 9 月初到期，健康的就业增长应与职位空缺的增加保持一致。这一数字应足以让美联储在 9 月份的会议上宣布在 2022 年初缩减量化宽松政策。”</i><b>荷兰国际集团银行外汇策略主管克里斯·特纳：</b></blockquote></p><p>   <i>The stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”</i>  <b>Carl Riccadonna, Bloomberg Intelligence economist:</b></p><p><blockquote><i>强于预期的就业报告使得美联储主席杰罗姆-鲍威尔（Jerome Powell）更有可能在本月晚些时候的杰克逊霍尔研讨会上 “暗示”美联储可能准备在未来几个月开始缩减规模。该数据对美元兑日元和欧元等低收益货币有利。尽管如此，美元的前景“不一定会损害风险环境……除非美国 10 年期国债收益率大幅飙升，否则高收益新兴市场货币应该会在下跌时看到需求”。</i><b>彭博情报经济学家卡尔·里卡多纳：</b></blockquote></p><p>   <i>The jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.</i>  <i><b>This tells us that underlying economic momentum is steady-state, not accelerating.”</b></i>  <b><i>Neil Dutta, economist at Renaissance Macro</i></b>:</p><p><blockquote><i>就业报告 “稳健，但并不像看起来那么强劲”。他说，除了私营部门招聘速度略有放缓（7 月份为 703,000 人，6 月份为 769,000 人）之外，7 月份的大部分增长都发生在脆弱的休闲和酒店业，而且由于 Covid-19，这种情况很容易逆转。这在OpenTable预订等指标中似乎已经很明显了。“因此，如果我们看看休闲和酒店业以外的私营部门招聘情况，今天报告的增幅为 32.3 万人，略低于上月的 37.5 万人。</i><i><b>这告诉我们，潜在的经济动能是稳定的，而不是加速的。”</b></i><b><i>Neil Dutta，Renaissance Macro 经济学家</i></b>:</blockquote></p><p>   <i>The FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”&nbsp; Tapering, in that event, could begin as early as December.</i>  <b>JJ Kinahan, chief market strategist at TD Ameritrade:</b></p><p><blockquote><i>联邦公开市场委员会可能会在 9 月份的声明中升级措辞，称经济 “有望取得实质性进一步进展”，这将导致 “最早在 11 月 ”宣布取得实质性进一步进展。在这种情况下，缩减规模最早可能在 12 月开始。</i><b>德美利证券首席市场策略师 JJ Kinahan：</b></blockquote></p><p>   <i>“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</i>  <b>Roberto Perli, head of global policy research at Cornerstone Macro:</b></p><p><blockquote><i>“这是一个很棒的数字，这是无法回避的，这真的是一个令人印象深刻的数字。但我认为，如果我们没有新的德尔塔变异毒株，我们会讨论的话题是，这是否会导致通货膨胀，这是否意味着我们将进入缩减通货膨胀等等。但由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业和经济都在发展--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度发展。现在看来会的。”</i><b>Cornerstone Macro 全球政策研究主管 Roberto Perli：</b></blockquote></p><p>   <i>“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.&nbsp; That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.&nbsp; It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”</i> </p><p><blockquote><i>“美联储将在9月会议前再发布一份就业报告。假设情况也不错，那么一个合理的基本情况是，联邦公开市场委员会在 9 月份的会议上表示，劳动力市场继续取得良好进展，如果进展继续以最近的速度进行，委员会将能够在未来几个月内开始缩减资产购买规模。这将使缩减资产购买规模的开始时间在 12 月底或 1 月初。“因此，我认为时间表保持不变。9 月份开始缩减资产规模很难，因为这既违背了 7 月份声明中'即将召开会议'（复数）的措辞，也违背了联邦公开市场委员会在实际开始缩减资产规模之前会提供充分通知的理念。”</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/enough-tapering-start-wall-street-reacts-blockbuster-jobs-report\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/enough-tapering-start-wall-street-reacts-blockbuster-jobs-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145298738","content_text":"With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.\nAnd yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”\nDo others agree? Below we have excerpted some analyst and strategist reactions to today's report.\nKatherine Judge, CIBC Capital Markets:\n\n“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”\n\nChris Turner, head of foreign exchange strategy at ING Bank:\n\nThe stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”\n\nCarl Riccadonna, Bloomberg Intelligence economist:\n\nThe jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.\nThis tells us that underlying economic momentum is steady-state, not accelerating.”\n\nNeil Dutta, economist at Renaissance Macro:\n\nThe FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”  Tapering, in that event, could begin as early as December.\n\nJJ Kinahan, chief market strategist at TD Ameritrade:\n\n“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”\n\nRoberto Perli, head of global policy research at Cornerstone Macro:\n\n“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.  That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.  It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802475453,"gmtCreate":1627800940672,"gmtModify":1633756242320,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802475453","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":579,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134708762,"gmtCreate":1622257109256,"gmtModify":1631883982949,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>nice","listText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>nice","text":"$Chewy, Inc.(CHWY)$nice","images":[{"img":"https://static.tigerbbs.com/3c429617d9a640c1f8403121c9c1ab7b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/134708762","isVote":1,"tweetType":1,"viewCount":697,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":134651870,"gmtCreate":1622226963590,"gmtModify":1631883982953,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>to the moon","listText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>to the moon","text":"$Chewy, Inc.(CHWY)$to the moon","images":[{"img":"https://static.tigerbbs.com/659c4ccf1c20e4f2688d31c5a7548e22","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/134651870","isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":138862789,"gmtCreate":1621927893941,"gmtModify":1634185427524,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/138862789","repostId":"1192073416","repostType":4,"repost":{"id":"1192073416","kind":"news","pubTimestamp":1621927688,"share":"https://www.laohunote.com/m/news/1192073416?lang=zh_CN&edition=full","pubTime":"2021-05-25 15:28","market":"us","language":"en","title":"How a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192073416","media":"The Wall Street Journal","summary":"If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies ","content":"<p>  If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.  The U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.</p><p><blockquote>如果该计划获得通过，美国对企业利润征收全球最低税的计划可能会让拥有大量海外收入和非常低税单的公司感到不安。美国财政部希望全球最低企业税率为15%，低于之前建议的21%水平。如果该政策获得通过，仍会对国际市场产生重大影响。</blockquote></p><p> On a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.</p><p><blockquote>总的来说，15% 的税将把几个通常不被视为避税天堂的国家（例如泰国、英国和越南）转移到安全的一边。</blockquote></p><p> In both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.</p><p><blockquote>在香港和新加坡，整体企业税率介乎15%至21%之间。但事实上，正如花旗亚洲经济学家指出的那样，由于各种减免和激励措施，他们的有效税率大大降低，15%的水平可能仍然会引发问题。爱尔兰和澳门的企业税率分别为12.5%和12%，即使不考虑任何减免或激励措施，它们也会被抓住。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/87a0465eae87e4c5f534f806d5a020c0\" tg-width=\"335\" tg-height=\"418\">A number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.</p><p><blockquote>根据高盛的分析，许多美国大公司超过 50% 的收入来自国际，并且外国有效税率和 2022 年共识有效税率均低于 15%。该名单包括英伟达公司、博通公司、拉斯维加斯金沙公司和微芯片技术公司。分析师认为欧洲的影响较小，绝大多数公司的薪酬已经超过 21%。</blockquote></p><p> Paradoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.</p><p><blockquote>矛盾的是，拟议的最低限度越低，对泽西岛、开曼群岛和英属维尔京群岛等最明显的避风港的威胁就越大。由于这些地区的公司税率为0%，他们将受到任何级别协议的打击，较低的提案更有可能获得国际支持。</blockquote></p><p> Relatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.</p><p><blockquote>自全球金融危机以来，股票市场中税收相对较低的行业表现明显优于市场，政策制定者并没有忽视这一点。即使我们抛开全球最低税的想法，拜登政府也计划对从国外汇回的全球无形低税收入（即 Gilti）征税一倍。</blockquote></p><p> One interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.</p><p><blockquote>丹斯克银行（Danske Bank）的信贷分析师提出了一种有趣的可能性，即全球最低税——以及普遍较高的税率——可能会加剧大多数税收制度中已经根深蒂固的对债务融资的偏见，从而在一定程度上增加公司债务水平。</blockquote></p><p> While it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.</p><p><blockquote>虽然目前还不清楚全球最低税是否会通过，但这种蠕虫似乎已经普遍提高了企业税收水平。缴纳极低公司税的公司及其投资者应该做好应对冲击的准备。</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>How a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</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\">\nHow a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-05-25 15:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.  The U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.</p><p><blockquote>如果该计划获得通过，美国对企业利润征收全球最低税的计划可能会让拥有大量海外收入和非常低税单的公司感到不安。美国财政部希望全球最低企业税率为15%，低于之前建议的21%水平。如果该政策获得通过，仍会对国际市场产生重大影响。</blockquote></p><p> On a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.</p><p><blockquote>总的来说，15% 的税将把几个通常不被视为避税天堂的国家（例如泰国、英国和越南）转移到安全的一边。</blockquote></p><p> In both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.</p><p><blockquote>在香港和新加坡，整体企业税率介乎15%至21%之间。但事实上，正如花旗亚洲经济学家指出的那样，由于各种减免和激励措施，他们的有效税率大大降低，15%的水平可能仍然会引发问题。爱尔兰和澳门的企业税率分别为12.5%和12%，即使不考虑任何减免或激励措施，它们也会被抓住。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/87a0465eae87e4c5f534f806d5a020c0\" tg-width=\"335\" tg-height=\"418\">A number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.</p><p><blockquote>根据高盛的分析，许多美国大公司超过 50% 的收入来自国际，并且外国有效税率和 2022 年共识有效税率均低于 15%。该名单包括英伟达公司、博通公司、拉斯维加斯金沙公司和微芯片技术公司。分析师认为欧洲的影响较小，绝大多数公司的薪酬已经超过 21%。</blockquote></p><p> Paradoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.</p><p><blockquote>矛盾的是，拟议的最低限度越低，对泽西岛、开曼群岛和英属维尔京群岛等最明显的避风港的威胁就越大。由于这些地区的公司税率为0%，他们将受到任何级别协议的打击，较低的提案更有可能获得国际支持。</blockquote></p><p> Relatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.</p><p><blockquote>自全球金融危机以来，股票市场中税收相对较低的行业表现明显优于市场，政策制定者并没有忽视这一点。即使我们抛开全球最低税的想法，拜登政府也计划对从国外汇回的全球无形低税收入（即 Gilti）征税一倍。</blockquote></p><p> One interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.</p><p><blockquote>丹斯克银行（Danske Bank）的信贷分析师提出了一种有趣的可能性，即全球最低税——以及普遍较高的税率——可能会加剧大多数税收制度中已经根深蒂固的对债务融资的偏见，从而在一定程度上增加公司债务水平。</blockquote></p><p> While it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.</p><p><blockquote>虽然目前还不清楚全球最低税是否会通过，但这种蠕虫似乎已经普遍提高了企业税收水平。缴纳极低公司税的公司及其投资者应该做好应对冲击的准备。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/how-a-global-minimum-tax-could-impact-markets-11621844805?mod=markets_lead_pos10\">The Wall Street Journal</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",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/how-a-global-minimum-tax-could-impact-markets-11621844805?mod=markets_lead_pos10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192073416","content_text":"If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.\n\nThe U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.\nOn a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.\nIn both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.\nA number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.\nParadoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.\nRelatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.\nOne interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.\nWhile it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":893203813,"gmtCreate":1628262151732,"gmtModify":1633752125844,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"can I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893203813","repostId":"1187701368","repostType":4,"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893203388,"gmtCreate":1628262140344,"gmtModify":1633752126068,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"can I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/893203388","repostId":"1155656235","repostType":4,"repost":{"id":"1155656235","kind":"news","pubTimestamp":1628227304,"share":"https://www.laohunote.com/m/news/1155656235?lang=zh_CN&edition=full","pubTime":"2021-08-06 13:21","market":"us","language":"en","title":"20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155656235","media":"MarketWatch","summary":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales ","content":"<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</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>20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</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\">\n20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的 20 只云股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在行业反弹的推动下，云 ETF 接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计提供云服务的公司未来销售额将实现强劲增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国大陆的传言和德尔塔变异毒株感染人数激增，美国投资者仍然看好。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于通过互联网将计算能力转变为分布式模型的最前沿的公司——预计将在未来几年快速增长，覆盖该领域的五大交易所交易基金中有四家接近创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些 ETF 持有的股票屏幕，显示了预计到 2023 年销售额增幅最大的股票。在一个有许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动因素。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>为了开始屏幕，我们查看了五个最大的云 ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF 可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何 ETF 感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至 8 月 4 日的总回报率对比，以及 SPDR 标普500 ETF 和景顺 QQQ 信托基金（追踪纳斯达克 100 指数）的总回报率对比：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF 的方法各不相同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪索引。根据ARK Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，该公司占该投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云 ETF 中，ARKW 的另一个独特持股是华特迪士尼公司（Walt Disney Co.），该公司通过其 Disney+ 流媒体服务无疑是一家重要的云公司，尽管该公司没有直接说明其销售额中有多少来自这一快速增长的领域。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>FactSet 对 ARKW 描述的一部分如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW 的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术充满信心的投资者，但投资组合的实施却是一项更加艰巨的任务： 大多数开发这些进步的公司都是大公司，新兴技术只占总收入的一小部分。因此，要获得 ARKW 的目标技术的纯粹权限是非常困难的--因此，一定要确认该基金的持有量--而不仅仅是其论点--与您对该领域的看法相一致。</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测 2023 年的销售增长，我们使用 2020 年日历销售预测作为基线，然后查看 FactSet 调查的分析师对未来三年的共识预测（如果有）。(2020 年的数字是估计值，因为许多公司的财政年度与日历不符）。</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将小组范围限制在 FactSet 调查的至少五名分析师所涵盖的 126 家公司，这些公司提供了 2020 年至 2023 年的共识销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到 2023 年销售额复合年增长率 (CAGR) 最高的 20 家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有 21 只股票上市，包括 Zillow Group Inc. 的 A 类股票和 C 类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该名单以 ARKW 持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来 12 个月共识估计的当前远期市销率，以及当前市值与 2023 年预计销售额的比率和分析师对股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为 2.8，2023 年预计市销率为 2.6。QQQ 目前的市盈率为 4.7，2023 年将下降至 4.3。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?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":{"TSLA":"特斯拉","DKNG":"DraftKings Inc.","SHOP":"Shopify Inc","ZG":"Zillow Class A","Z":"Zillow","SNAP":"Snap Inc","ROKU":"Roku Inc","PDD":"拼多多","PINS":"Pinterest, Inc.","MELI":"MercadoLibre","OKTA":"Okta Inc.","SE":"Sea Ltd","KC":"金山云","ADYEY":"Adyen N.V.","TDOC":"Teladoc Health Inc.","COIN":"Coinbase Global, Inc.","CRWD":"CrowdStrike Holdings, Inc.","VCYT":"Veracyte Inc"},"source_url":"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155656235","content_text":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)\nU.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.\nCloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.\nBelow is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.\nTo begin the screen, we looked at the five largest cloud ETFs:\nSource: FactSet\nETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.\nHere’s a comparison of total returns through Aug. 4, along with those for the SPDR S&P 500 ETF and the Invesco QQQ Trust (which tracks the Nasdaq-100 Index) for comparison:\nSource: FactSet\nThe ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.\nAnother holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.\nAs part of its description of ARKW, FactSet says the following:\n“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”\nCloud-stock screen\nTogether, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)\nTo make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.\nHere are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:\n\nSource: FactSet\nThere are actually 21 stocks listed, including Zillow Group Inc.’s Class A and Class C shares.\nIt is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.\nHere are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.\n\nSource: FactSet\nIn comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.","news_type":1,"symbols_score_info":{"SQ":0.9,"SNAP":0.9,"ADYEY":0.9,"TSLA":0.9,"SKLZ":0.9,"CRWD":0.9,"MELI":0.9,"OKTA":0.9,"LC":0.9,"SE":0.9,"PDD":0.9,"DKNG":0.9,"SHOP":0.9,"ZG":0.9,"PINS":0.9,"KC":0.9,"ROKU":0.9,"TDOC":0.9,"VCYT":0.9,"Z":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893209738,"gmtCreate":1628262126724,"gmtModify":1633752126318,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"can I get a like please","listText":"can I get a like please","text":"can I get a like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893209738","repostId":"1145298738","repostType":4,"repost":{"id":"1145298738","kind":"news","pubTimestamp":1628259150,"share":"https://www.laohunote.com/m/news/1145298738?lang=zh_CN&edition=full","pubTime":"2021-08-06 22:12","market":"us","language":"en","title":"\"Enough For Tapering To Start\": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145298738","media":"zerohedge","summary":"With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just o","content":"<p>With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.</p><p><blockquote>就业报告显示，企业调查中的就业岗位略低于 100 万个（家庭调查中的就业岗位略高于 100 万个），就业创造强劲，失业率大幅下降，就业人口比率上升，工资和工作时间上涨，以及有利的修正，至少从市场反应来看，共识是我们已经进入了“实质性进展”阶段，为美联储在本月底杰克逊霍尔研讨会期间发出的缩减规模信号开了绿灯。</blockquote></p><p> And yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</p><p><blockquote>然而，还有一个潜在的障碍：三角洲的激增以及随之而来的限制和/或封锁： 正如德美利证券（TD Ameritrade）的 JJ Kinahan 所说：“由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业岗位和经济都在增长--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度增长。现在看来会的。”</blockquote></p><p> Do others agree? Below we have excerpted some analyst and strategist reactions to today's report.</p><p><blockquote>其他人同意吗？下面我们摘录了一些分析师和策略师对今天报告的反应。</blockquote></p><p> <b>Katherine Judge, CIBC Capital Markets:</b></p><p><blockquote><b>CIBC 资本市场 Katherine Judge：</b></blockquote></p><p>   <i>“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”</i>  <b>Chris Turner, head of foreign exchange strategy at ING Bank:</b></p><p><blockquote><i>“由于许多州的失业救济金补贴将于 9 月初到期，健康的就业增长应与职位空缺的增加保持一致。这一数字应足以让美联储在 9 月份的会议上宣布在 2022 年初缩减量化宽松政策。”</i><b>荷兰国际集团银行外汇策略主管克里斯·特纳：</b></blockquote></p><p>   <i>The stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”</i>  <b>Carl Riccadonna, Bloomberg Intelligence economist:</b></p><p><blockquote><i>强于预期的就业报告使得美联储主席杰罗姆-鲍威尔（Jerome Powell）更有可能在本月晚些时候的杰克逊霍尔研讨会上 “暗示”美联储可能准备在未来几个月开始缩减规模。该数据对美元兑日元和欧元等低收益货币有利。尽管如此，美元的前景“不一定会损害风险环境……除非美国 10 年期国债收益率大幅飙升，否则高收益新兴市场货币应该会在下跌时看到需求”。</i><b>彭博情报经济学家卡尔·里卡多纳：</b></blockquote></p><p>   <i>The jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.</i>  <i><b>This tells us that underlying economic momentum is steady-state, not accelerating.”</b></i>  <b><i>Neil Dutta, economist at Renaissance Macro</i></b>:</p><p><blockquote><i>就业报告 “稳健，但并不像看起来那么强劲”。他说，除了私营部门招聘速度略有放缓（7 月份为 703,000 人，6 月份为 769,000 人）之外，7 月份的大部分增长都发生在脆弱的休闲和酒店业，而且由于 Covid-19，这种情况很容易逆转。这在OpenTable预订等指标中似乎已经很明显了。“因此，如果我们看看休闲和酒店业以外的私营部门招聘情况，今天报告的增幅为 32.3 万人，略低于上月的 37.5 万人。</i><i><b>这告诉我们，潜在的经济动能是稳定的，而不是加速的。”</b></i><b><i>Neil Dutta，Renaissance Macro 经济学家</i></b>:</blockquote></p><p>   <i>The FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”&nbsp; Tapering, in that event, could begin as early as December.</i>  <b>JJ Kinahan, chief market strategist at TD Ameritrade:</b></p><p><blockquote><i>联邦公开市场委员会可能会在 9 月份的声明中升级措辞，称经济 “有望取得实质性进一步进展”，这将导致 “最早在 11 月 ”宣布取得实质性进一步进展。在这种情况下，缩减规模最早可能在 12 月开始。</i><b>德美利证券首席市场策略师 JJ Kinahan：</b></blockquote></p><p>   <i>“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</i>  <b>Roberto Perli, head of global policy research at Cornerstone Macro:</b></p><p><blockquote><i>“这是一个很棒的数字，这是无法回避的，这真的是一个令人印象深刻的数字。但我认为，如果我们没有新的德尔塔变异毒株，我们会讨论的话题是，这是否会导致通货膨胀，这是否意味着我们将进入缩减通货膨胀等等。但由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业和经济都在发展--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度发展。现在看来会的。”</i><b>Cornerstone Macro 全球政策研究主管 Roberto Perli：</b></blockquote></p><p>   <i>“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.&nbsp; That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.&nbsp; It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”</i> </p><p><blockquote><i>“美联储将在9月会议前再发布一份就业报告。假设情况也不错，那么一个合理的基本情况是，联邦公开市场委员会在 9 月份的会议上表示，劳动力市场继续取得良好进展，如果进展继续以最近的速度进行，委员会将能够在未来几个月内开始缩减资产购买规模。这将使缩减资产购买规模的开始时间在 12 月底或 1 月初。“因此，我认为时间表保持不变。9 月份开始缩减资产规模很难，因为这既违背了 7 月份声明中'即将召开会议'（复数）的措辞，也违背了联邦公开市场委员会在实际开始缩减资产规模之前会提供充分通知的理念。”</i></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>\"Enough For Tapering To Start\": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</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; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Enough For Tapering To Start\": Wall Street Reacts To A Blockbuster Jobs Report<blockquote>“足以开始缩减规模”：华尔街对重磅就业报告的反应</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-08-06 22:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.</p><p><blockquote>就业报告显示，企业调查中的就业岗位略低于 100 万个（家庭调查中的就业岗位略高于 100 万个），就业创造强劲，失业率大幅下降，就业人口比率上升，工资和工作时间上涨，以及有利的修正，至少从市场反应来看，共识是我们已经进入了“实质性进展”阶段，为美联储在本月底杰克逊霍尔研讨会期间发出的缩减规模信号开了绿灯。</blockquote></p><p> And yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</p><p><blockquote>然而，还有一个潜在的障碍：三角洲的激增以及随之而来的限制和/或封锁： 正如德美利证券（TD Ameritrade）的 JJ Kinahan 所说：“由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业岗位和经济都在增长--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度增长。现在看来会的。”</blockquote></p><p> Do others agree? Below we have excerpted some analyst and strategist reactions to today's report.</p><p><blockquote>其他人同意吗？下面我们摘录了一些分析师和策略师对今天报告的反应。</blockquote></p><p> <b>Katherine Judge, CIBC Capital Markets:</b></p><p><blockquote><b>CIBC 资本市场 Katherine Judge：</b></blockquote></p><p>   <i>“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”</i>  <b>Chris Turner, head of foreign exchange strategy at ING Bank:</b></p><p><blockquote><i>“由于许多州的失业救济金补贴将于 9 月初到期，健康的就业增长应与职位空缺的增加保持一致。这一数字应足以让美联储在 9 月份的会议上宣布在 2022 年初缩减量化宽松政策。”</i><b>荷兰国际集团银行外汇策略主管克里斯·特纳：</b></blockquote></p><p>   <i>The stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”</i>  <b>Carl Riccadonna, Bloomberg Intelligence economist:</b></p><p><blockquote><i>强于预期的就业报告使得美联储主席杰罗姆-鲍威尔（Jerome Powell）更有可能在本月晚些时候的杰克逊霍尔研讨会上 “暗示”美联储可能准备在未来几个月开始缩减规模。该数据对美元兑日元和欧元等低收益货币有利。尽管如此，美元的前景“不一定会损害风险环境……除非美国 10 年期国债收益率大幅飙升，否则高收益新兴市场货币应该会在下跌时看到需求”。</i><b>彭博情报经济学家卡尔·里卡多纳：</b></blockquote></p><p>   <i>The jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.</i>  <i><b>This tells us that underlying economic momentum is steady-state, not accelerating.”</b></i>  <b><i>Neil Dutta, economist at Renaissance Macro</i></b>:</p><p><blockquote><i>就业报告 “稳健，但并不像看起来那么强劲”。他说，除了私营部门招聘速度略有放缓（7 月份为 703,000 人，6 月份为 769,000 人）之外，7 月份的大部分增长都发生在脆弱的休闲和酒店业，而且由于 Covid-19，这种情况很容易逆转。这在OpenTable预订等指标中似乎已经很明显了。“因此，如果我们看看休闲和酒店业以外的私营部门招聘情况，今天报告的增幅为 32.3 万人，略低于上月的 37.5 万人。</i><i><b>这告诉我们，潜在的经济动能是稳定的，而不是加速的。”</b></i><b><i>Neil Dutta，Renaissance Macro 经济学家</i></b>:</blockquote></p><p>   <i>The FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”&nbsp; Tapering, in that event, could begin as early as December.</i>  <b>JJ Kinahan, chief market strategist at TD Ameritrade:</b></p><p><blockquote><i>联邦公开市场委员会可能会在 9 月份的声明中升级措辞，称经济 “有望取得实质性进一步进展”，这将导致 “最早在 11 月 ”宣布取得实质性进一步进展。在这种情况下，缩减规模最早可能在 12 月开始。</i><b>德美利证券首席市场策略师 JJ Kinahan：</b></blockquote></p><p>   <i>“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”</i>  <b>Roberto Perli, head of global policy research at Cornerstone Macro:</b></p><p><blockquote><i>“这是一个很棒的数字，这是无法回避的，这真的是一个令人印象深刻的数字。但我认为，如果我们没有新的德尔塔变异毒株，我们会讨论的话题是，这是否会导致通货膨胀，这是否意味着我们将进入缩减通货膨胀等等。但由于德尔塔变异毒株，在我们对此有更多了解之前，我认为它会给我们带来不同的压力，我们会说，好吧，现在我们处于观望模式。很高兴看到就业和经济都在发展--希望在下一份就业报告中，我们就能知道经济能否继续以这样的速度发展。现在看来会的。”</i><b>Cornerstone Macro 全球政策研究主管 Roberto Perli：</b></blockquote></p><p>   <i>“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.&nbsp; That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.&nbsp; It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”</i> </p><p><blockquote><i>“美联储将在9月会议前再发布一份就业报告。假设情况也不错，那么一个合理的基本情况是，联邦公开市场委员会在 9 月份的会议上表示，劳动力市场继续取得良好进展，如果进展继续以最近的速度进行，委员会将能够在未来几个月内开始缩减资产购买规模。这将使缩减资产购买规模的开始时间在 12 月底或 1 月初。“因此，我认为时间表保持不变。9 月份开始缩减资产规模很难，因为这既违背了 7 月份声明中'即将召开会议'（复数）的措辞，也违背了联邦公开市场委员会在实际开始缩减资产规模之前会提供充分通知的理念。”</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/enough-tapering-start-wall-street-reacts-blockbuster-jobs-report\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/enough-tapering-start-wall-street-reacts-blockbuster-jobs-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145298738","content_text":"With the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the \"substantial progress\" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.\nAnd yet there is one potential hurdle: the Delta surge and ensuing restrictions and/or lockdowns: as TD Ameritrade's JJ Kinahan says, \"because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”\nDo others agree? Below we have excerpted some analyst and strategist reactions to today's report.\nKatherine Judge, CIBC Capital Markets:\n\n“With many states set to see the unemployment benefit top-ups expire in early September, healthy job gains should continue ahead, in line with elevated job openings. This print should be enough to allow the Fed to announce an early 2022 tapering of QE at the September meeting.”\n\nChris Turner, head of foreign exchange strategy at ING Bank:\n\nThe stronger-than-expected jobs report makes it more likely that Federal Reserve Chair Jerome Powell may “drop heavy hints” at the Jackson Hole Symposium later this month, that the central bank may prepare to start tapering over subsequent months. The data is positive for the dollar versus the low-yielders such as the yen and euro. Still, the outlook for the greenback “should not necessarily damage the risk environment....Unless U.S. 10 year yields spike aggressively, high yield EM currencies should see demand on dips”\n\nCarl Riccadonna, Bloomberg Intelligence economist:\n\nThe jobs report is “sturdy, but not as strong as it looks.” In addition to the modest fade in the pace of private-sector hiring (703,000 in July vs. 769,000 in June), much of the July gain occurred in the tenuous leisure and hospitality sector -- and that could easily reverse due to Covid-19, he said. This already appears to be evident in metrics such as OpenTable bookings. “So if we look at private-sector hiring outside of leisure and hospitality, today’s reported gain was 323,000, a bit slower than the prior month’s 375,000.\nThis tells us that underlying economic momentum is steady-state, not accelerating.”\n\nNeil Dutta, economist at Renaissance Macro:\n\nThe FOMC could upgrade its language in the September statement to say that the economy is “on track for substantial further progress,” which would lead to a declaration of achievement of substantial further progress in “November at the earliest.”  Tapering, in that event, could begin as early as December.\n\nJJ Kinahan, chief market strategist at TD Ameritrade:\n\n“It’s a great number, there’s no way around that, it really is an impressive number. But I think if we didn’t have this new delta variant coming up, the conversation we’d be having is, is this inflationary, does this mean we’ll go into a taper, etc. But because of the delta variant, until we know a little bit more about that, I think it throws a different wrench in there, where we’re like, OK, now we’re in wait-and-see mode there. Great to see that the jobs are progressing and the economy is progressing -- hopefully by the next jobs report we’ll know if the economy can keep progressing at this pace. Right now it looks like it will.”\n\nRoberto Perli, head of global policy research at Cornerstone Macro:\n\n“The Fed will have one more employment report before the September meeting. Assuming it will be good as well, a plausible base case is for the FOMC to say at the September meeting that the labor market continued to make good progress, and if the progress continues at the recent pace the committee will be in a position to start tapering its asset purchases over the next few months.  That would put the onset of tapering in late December or early January.“So bottom line I think the timeline remains the same.  It would be hard to start tapering in September because it would go against both the ‘coming meetings’ (plural) language in the July statement and the notion that the FOMC would provide ample notice before actually starting tapering.”","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802475453,"gmtCreate":1627800940672,"gmtModify":1633756242320,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802475453","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":579,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134708762,"gmtCreate":1622257109256,"gmtModify":1631883982949,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>nice","listText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>nice","text":"$Chewy, Inc.(CHWY)$nice","images":[{"img":"https://static.tigerbbs.com/3c429617d9a640c1f8403121c9c1ab7b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/134708762","isVote":1,"tweetType":1,"viewCount":697,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":138862789,"gmtCreate":1621927893941,"gmtModify":1634185427524,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/138862789","repostId":"1192073416","repostType":4,"repost":{"id":"1192073416","kind":"news","pubTimestamp":1621927688,"share":"https://www.laohunote.com/m/news/1192073416?lang=zh_CN&edition=full","pubTime":"2021-05-25 15:28","market":"us","language":"en","title":"How a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192073416","media":"The Wall Street Journal","summary":"If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies ","content":"<p>  If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.  The U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.</p><p><blockquote>如果该计划获得通过，美国对企业利润征收全球最低税的计划可能会让拥有大量海外收入和非常低税单的公司感到不安。美国财政部希望全球最低企业税率为15%，低于之前建议的21%水平。如果该政策获得通过，仍会对国际市场产生重大影响。</blockquote></p><p> On a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.</p><p><blockquote>总的来说，15% 的税将把几个通常不被视为避税天堂的国家（例如泰国、英国和越南）转移到安全的一边。</blockquote></p><p> In both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.</p><p><blockquote>在香港和新加坡，整体企业税率介乎15%至21%之间。但事实上，正如花旗亚洲经济学家指出的那样，由于各种减免和激励措施，他们的有效税率大大降低，15%的水平可能仍然会引发问题。爱尔兰和澳门的企业税率分别为12.5%和12%，即使不考虑任何减免或激励措施，它们也会被抓住。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/87a0465eae87e4c5f534f806d5a020c0\" tg-width=\"335\" tg-height=\"418\">A number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.</p><p><blockquote>根据高盛的分析，许多美国大公司超过 50% 的收入来自国际，并且外国有效税率和 2022 年共识有效税率均低于 15%。该名单包括英伟达公司、博通公司、拉斯维加斯金沙公司和微芯片技术公司。分析师认为欧洲的影响较小，绝大多数公司的薪酬已经超过 21%。</blockquote></p><p> Paradoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.</p><p><blockquote>矛盾的是，拟议的最低限度越低，对泽西岛、开曼群岛和英属维尔京群岛等最明显的避风港的威胁就越大。由于这些地区的公司税率为0%，他们将受到任何级别协议的打击，较低的提案更有可能获得国际支持。</blockquote></p><p> Relatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.</p><p><blockquote>自全球金融危机以来，股票市场中税收相对较低的行业表现明显优于市场，政策制定者并没有忽视这一点。即使我们抛开全球最低税的想法，拜登政府也计划对从国外汇回的全球无形低税收入（即 Gilti）征税一倍。</blockquote></p><p> One interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.</p><p><blockquote>丹斯克银行（Danske Bank）的信贷分析师提出了一种有趣的可能性，即全球最低税——以及普遍较高的税率——可能会加剧大多数税收制度中已经根深蒂固的对债务融资的偏见，从而在一定程度上增加公司债务水平。</blockquote></p><p> While it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.</p><p><blockquote>虽然目前还不清楚全球最低税是否会通过，但这种蠕虫似乎已经普遍提高了企业税收水平。缴纳极低公司税的公司及其投资者应该做好应对冲击的准备。</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>How a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</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\">\nHow a Global Minimum Tax Could Impact Markets<blockquote>全球最低税如何影响市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-05-25 15:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.  The U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.</p><p><blockquote>如果该计划获得通过，美国对企业利润征收全球最低税的计划可能会让拥有大量海外收入和非常低税单的公司感到不安。美国财政部希望全球最低企业税率为15%，低于之前建议的21%水平。如果该政策获得通过，仍会对国际市场产生重大影响。</blockquote></p><p> On a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.</p><p><blockquote>总的来说，15% 的税将把几个通常不被视为避税天堂的国家（例如泰国、英国和越南）转移到安全的一边。</blockquote></p><p> In both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.</p><p><blockquote>在香港和新加坡，整体企业税率介乎15%至21%之间。但事实上，正如花旗亚洲经济学家指出的那样，由于各种减免和激励措施，他们的有效税率大大降低，15%的水平可能仍然会引发问题。爱尔兰和澳门的企业税率分别为12.5%和12%，即使不考虑任何减免或激励措施，它们也会被抓住。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/87a0465eae87e4c5f534f806d5a020c0\" tg-width=\"335\" tg-height=\"418\">A number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.</p><p><blockquote>根据高盛的分析，许多美国大公司超过 50% 的收入来自国际，并且外国有效税率和 2022 年共识有效税率均低于 15%。该名单包括英伟达公司、博通公司、拉斯维加斯金沙公司和微芯片技术公司。分析师认为欧洲的影响较小，绝大多数公司的薪酬已经超过 21%。</blockquote></p><p> Paradoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.</p><p><blockquote>矛盾的是，拟议的最低限度越低，对泽西岛、开曼群岛和英属维尔京群岛等最明显的避风港的威胁就越大。由于这些地区的公司税率为0%，他们将受到任何级别协议的打击，较低的提案更有可能获得国际支持。</blockquote></p><p> Relatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.</p><p><blockquote>自全球金融危机以来，股票市场中税收相对较低的行业表现明显优于市场，政策制定者并没有忽视这一点。即使我们抛开全球最低税的想法，拜登政府也计划对从国外汇回的全球无形低税收入（即 Gilti）征税一倍。</blockquote></p><p> One interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.</p><p><blockquote>丹斯克银行（Danske Bank）的信贷分析师提出了一种有趣的可能性，即全球最低税——以及普遍较高的税率——可能会加剧大多数税收制度中已经根深蒂固的对债务融资的偏见，从而在一定程度上增加公司债务水平。</blockquote></p><p> While it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.</p><p><blockquote>虽然目前还不清楚全球最低税是否会通过，但这种蠕虫似乎已经普遍提高了企业税收水平。缴纳极低公司税的公司及其投资者应该做好应对冲击的准备。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/how-a-global-minimum-tax-could-impact-markets-11621844805?mod=markets_lead_pos10\">The Wall Street Journal</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",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/how-a-global-minimum-tax-could-impact-markets-11621844805?mod=markets_lead_pos10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192073416","content_text":"If it comes to pass, U.S. plans for global minimum levy on corporate profits could rattle companies with lots of overseas revenue and very low tax bills.\n\nThe U.S. Treasury Department wants a global minimum corporate tax rate of 15%,a reduced askfrom the 21% level it previously suggested. If the policy ever came to pass, that could still have a marked impact on international markets.\nOn a headline basis, the 15% tax would move several countries not typically considered tax havens—Thailand, the U.K. and Vietnam, for example—onto the safe side of the line.\nIn both Hong Kong and Singapore, headline corporate tax rates sit between 15% and 21%. But in reality, as noted by Asia economists at Citi, their effective tax rates are made considerably lower by various breaks and incentives and a 15% level would likely still cause issues. Ireland and Macau, with corporate tax rates at 12.5% and 12% respectively, would both be caught even without considering any breaks or incentives.\nA number of major American companies make more than 50% of their income internationally, and have both foreign effective tax rates and consensus 2022 effective tax rates below 15%, according to an analysis by Goldman Sachs. That list includesNVIDIACorp.,BroadcomInc.,Las Vegas SandsCorp.andMicrochip TechnologyInc.The analysts see fewer impacts in Europe, where the vast majority of companies already pay above 21% as it is.\nParadoxically, the lower the minimum proposed, the greater the threat to the most obvious havens such as Jersey, the Cayman Islands and the British Virgin Islands. Since those territories have 0% corporation tax rates, they will be hit under an agreement on any level and a lower proposal is more likely to garnerbroad international support.\nRelatively less-taxed sectors of the equity market haveoutperformed considerablysince the global financial crisis, something which hasn’t been unnoticed by policy makers. Even if we leave the idea of a global minimum tax aside, the Biden administration plans to double the tax on global intangible low-tax income repatriated from abroad,known as Gilti.\nOne interesting possibility raised by credit analysts at Danske Bank is that a global minimum tax—and higher rates in general—could increase corporate debt levels at the margin by exacerbating the bias toward debt financing that is already embedded in most tax systems.\nWhile it is still unclear whether a global minimum tax will ever come to pass, the worm seems to have turned on corporate tax levels generally. Companies that pay very low corporate taxes—and their investors—should brace for impact.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134651870,"gmtCreate":1622226963590,"gmtModify":1631883982953,"author":{"id":"3582425507316731","authorId":"3582425507316731","name":"KennethAng08","avatar":"https://static.tigerbbs.com/7b9823e48395e8223598cadebeca2b70","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582425507316731","idStr":"3582425507316731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>to the moon","listText":"<a href=\"https://laohu8.com/S/CHWY\">$Chewy, Inc.(CHWY)$</a>to the moon","text":"$Chewy, Inc.(CHWY)$to the moon","images":[{"img":"https://static.tigerbbs.com/659c4ccf1c20e4f2688d31c5a7548e22","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/134651870","isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}