Is the stock market due for a correction in 2021? Here’s what some experts think_老虎社区_美港股上老虎

Is the stock market due for a correction in 2021? Here’s what some experts think

MarketWatch2021-02-10

A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major ...

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124

Gibbie
·2021-02-14
Better to have correction rather than crash
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- AndrewL:
  Indeed
  2021-02-15
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octa8
·2021-02-13
[强]
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Jon777
·2021-02-11
Minor correction for a bull run in the ox year 🚀🚀🚀
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jonbeloved
·2021-02-11
Stock market is like a roller coaster. Whatever goup will come down and whatever come down will go up. Just brace yourself for the ride.
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- Jon777:
  🚀🚀🚀
  2021-02-11
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CL777
·2021-02-11
For US markets maybe
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Xuanziepie
·2021-02-11
Hopefully no correction
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- Jon777:
  Correction is healthy For the market to go higher
  2021-02-11
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- SafetyFirst:
  agree
  2021-02-14
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RolyPoly
·2021-02-10
Who decides when the correction takes place?
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- RolyPoly:
  是由谁决定股市的调整?我们如何知道呢?
  2021-02-11
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644e0ab1
·2021-02-10
Maybe
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Otahman
·2021-02-10
Not too soon
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Blurryw
·2021-02-10
Yea... pull back create opportunities
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JustInvest
·2021-02-10
Yeah some pullback is acceptable
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ck1986
·2021-02-10
Small adjustment is normal
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HuatMonster
·2021-02-10
Sounds reasonable
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YCLim
·2021-02-10
Don't be surprised
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mcwood
·2021-02-10
Up down up is normal in all stuff
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Kenny77
·2021-02-10
No . As there are cheap money in the market
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reeve
·2021-02-10
Waiting...
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pyrolysis
·2021-02-10
Seems like market is due for a healthy correction
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FuJie1010
·2021-02-10
Shd be second half of the year
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geraldwwx
·2021-02-10
Corrections happen all the time
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Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":382055429,"gmtCreate":1613315457461,"gmtModify":1634553952722,"author":{"id":"3564398446314499","authorId":"3564398446314499","name":"Gibbie","avatar":"https://static.tigerbbs.com/ac29ad2a0a11289a908ae00b770dc0c5","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3564398446314499","idStr":"3564398446314499"},"htmlText":"Better to have correction rather than crash","listText":"Better to have correction rather than crash","text":"Better to have correction rather than crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/382055429","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3572265,"gmtCreate":1613355515894,"gmtModify":1635764298176,"authorId":3571815908504020,"author":{"id":3571815908504020,"idStr":"3571815908504020","authorId":3571815908504020,"name":"AndrewL","avatar":"https://static.tigerbbs.com/f45655eaaab14f0b61c554eea4d95ca7","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":382055429,"type":1,"supId":0,"prevId":0,"content":"Indeed","text":"Indeed","html":"Indeed"}],"langContent":"EN"},{"id":386651081,"gmtCreate":1613176433743,"gmtModify":1634554267388,"author":{"id":"3563518698255751","authorId":"3563518698255751","name":"octa8","avatar":"https://static.tigerbbs.com/a9866d6e2ee91185e34a0a44121ba0f1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3563518698255751","idStr":"3563518698255751"},"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/386651081","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":388302191,"gmtCreate":1613017554413,"gmtModify":1703768421109,"author":{"id":"3560139863772426","authorId":"3560139863772426","name":"Jon777","avatar":"https://static.tigerbbs.com/dfb83fe0ad88b21f2f1625bb19368212","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3560139863772426","idStr":"3560139863772426"},"htmlText":"Minor correction for a bull run in the ox year 🚀🚀🚀","listText":"Minor correction for a bull run in the ox year 🚀🚀🚀","text":"Minor correction for a bull run in the ox year 🚀🚀🚀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388302191","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":388971290,"gmtCreate":1613016533810,"gmtModify":1703768401887,"author":{"id":"3560138341869725","authorId":"3560138341869725","name":"jonbeloved","avatar":"https://static.tigerbbs.com/1312ffb19627a11a2ad03b49693f53dd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3560138341869725","idStr":"3560138341869725"},"htmlText":"Stock market is like a roller coaster. Whatever goup will come down and whatever come down will go up. Just brace yourself for the ride.","listText":"Stock market is like a roller coaster. Whatever goup will come down and whatever come down will go up. Just brace yourself for the ride.","text":"Stock market is like a roller coaster. Whatever goup will come down and whatever come down will go up. Just brace yourself for the ride.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/388971290","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3546501,"gmtCreate":1613017567459,"gmtModify":1635765063750,"authorId":3560139863772426,"author":{"id":3560139863772426,"idStr":"3560139863772426","authorId":3560139863772426,"name":"Jon777","avatar":"https://static.tigerbbs.com/dfb83fe0ad88b21f2f1625bb19368212","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":388971290,"type":1,"supId":0,"prevId":0,"content":"🚀🚀🚀","text":"🚀🚀🚀","html":"🚀🚀🚀"}],"langContent":"EN"},{"id":388019494,"gmtCreate":1613001096318,"gmtModify":1703768179765,"author":{"id":"3560241002253187","authorId":"3560241002253187","name":"CL777","avatar":"https://static.tigerbbs.com/e9aef3dd830373a0427a3447b1b564e3","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3560241002253187","idStr":"3560241002253187"},"htmlText":"For US markets maybe","listText":"For US markets maybe","text":"For US markets maybe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388019494","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381435443,"gmtCreate":1612974091682,"gmtModify":1703767908047,"author":{"id":"3563944060928407","authorId":"3563944060928407","name":"Xuanziepie","avatar":"https://static.tigerbbs.com/e90f2689dccce2ab8f9fe476e1ccdf32","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3563944060928407","idStr":"3563944060928407"},"htmlText":"Hopefully no correction","listText":"Hopefully no correction","text":"Hopefully no correction","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/381435443","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3546506,"gmtCreate":1613017590216,"gmtModify":1635765063421,"authorId":3560139863772426,"author":{"id":3560139863772426,"idStr":"3560139863772426","authorId":3560139863772426,"name":"Jon777","avatar":"https://static.tigerbbs.com/dfb83fe0ad88b21f2f1625bb19368212","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":381435443,"type":1,"supId":0,"prevId":0,"content":"Correction is healthy For the market to go higher","text":"Correction is healthy For the market to go higher","html":"Correction is healthy For the market to go higher"},{"id":3569274,"gmtCreate":1613277490234,"gmtModify":1635764419222,"authorId":3570965583958757,"author":{"id":3570965583958757,"idStr":"3570965583958757","authorId":3570965583958757,"name":"SafetyFirst","avatar":"https://static.tigerbbs.com/a6356c1a4c82b1755621f3b2631a6784","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":381435443,"type":1,"supId":0,"prevId":0,"content":"agree","text":"agree","html":"agree"}],"langContent":"EN"},{"id":381254879,"gmtCreate":1612968942791,"gmtModify":1703767704032,"author":{"id":"3550705079215424","authorId":"3550705079215424","name":"RolyPoly","avatar":"https://static.tigerbbs.com/339c9251885dc23cfe3794c5abcc347c","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3550705079215424","idStr":"3550705079215424"},"htmlText":"Who decides when the correction takes place?","listText":"Who decides when the correction takes place?","text":"Who decides when the correction takes place?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/381254879","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3542719,"gmtCreate":1612980107701,"gmtModify":1635765174295,"authorId":3550705079215424,"author":{"id":3550705079215424,"idStr":"3550705079215424","authorId":3550705079215424,"name":"RolyPoly","avatar":"https://static.tigerbbs.com/339c9251885dc23cfe3794c5abcc347c","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":381254879,"type":1,"supId":0,"prevId":0,"content":"是由谁决定股市的调整?我们如何知道呢?","text":"是由谁决定股市的调整?我们如何知道呢?","html":"是由谁决定股市的调整?我们如何知道呢?"}],"langContent":"EN"},{"id":381841093,"gmtCreate":1612956407212,"gmtModify":1703767431656,"author":{"id":"3561516069150239","authorId":"3561516069150239","name":"644e0ab1","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3561516069150239","idStr":"3561516069150239"},"htmlText":"Maybe","listText":"Maybe","text":"Maybe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381841093","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381822267,"gmtCreate":1612954811359,"gmtModify":1703767405981,"author":{"id":"3567482716620513","authorId":"3567482716620513","name":"Otahman","avatar":"https://static.tigerbbs.com/dbd099972f177a5bb9c4f8a5666b4a77","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3567482716620513","idStr":"3567482716620513"},"htmlText":"Not too soon","listText":"Not too soon","text":"Not too soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381822267","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381820677,"gmtCreate":1612954275299,"gmtModify":1703767397152,"author":{"id":"3570491248465992","authorId":"3570491248465992","name":"Blurryw","avatar":"https://static.tigerbbs.com/a011010e57161d11562538eee0904d95","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3570491248465992","idStr":"3570491248465992"},"htmlText":"Yea... pull back create opportunities&nbsp;","listText":"Yea... pull back create opportunities&nbsp;","text":"Yea... pull back create opportunities","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381820677","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381882610,"gmtCreate":1612952866230,"gmtModify":1703767377041,"author":{"id":"3572773411123061","authorId":"3572773411123061","name":"JustInvest","avatar":"https://static.tigerbbs.com/2b8fd2d38b4505de724bb28bdb4aa446","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3572773411123061","idStr":"3572773411123061"},"htmlText":"Yeah some pullback is acceptable","listText":"Yeah some pullback is acceptable","text":"Yeah some pullback is acceptable","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381882610","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381160654,"gmtCreate":1612946723578,"gmtModify":1703767242606,"author":{"id":"3574818989927673","authorId":"3574818989927673","name":"ck1986","avatar":"https://static.tigerbbs.com/74c5ef4a55c8d77833c984e8673a6643","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3574818989927673","idStr":"3574818989927673"},"htmlText":"Small adjustment is normal","listText":"Small adjustment is normal","text":"Small adjustment is normal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381160654","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381139668,"gmtCreate":1612942485255,"gmtModify":1703767200443,"author":{"id":"3573958025912472","authorId":"3573958025912472","name":"HuatMonster","avatar":"https://static.tigerbbs.com/7d81e74b4364df645e86942b6636cb78","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3573958025912472","idStr":"3573958025912472"},"htmlText":"Sounds reasonable","listText":"Sounds reasonable","text":"Sounds reasonable","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381139668","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381195585,"gmtCreate":1612942079847,"gmtModify":1703767195235,"author":{"id":"3570854002442844","authorId":"3570854002442844","name":"YCLim","avatar":"https://static.tigerbbs.com/3d379b5568f9232352aa09ded85fac76","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3570854002442844","idStr":"3570854002442844"},"htmlText":"Don't be surprised&nbsp;","listText":"Don't be surprised&nbsp;","text":"Don't be surprised","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381195585","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381191675,"gmtCreate":1612941314697,"gmtModify":1703767189331,"author":{"id":"3569805243820041","authorId":"3569805243820041","name":"mcwood","avatar":"https://static.tigerbbs.com/899c12565f32e74966bd8f5ceac09f7c","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3569805243820041","idStr":"3569805243820041"},"htmlText":"Up down up is normal in all stuff","listText":"Up down up is normal in all stuff","text":"Up down up is normal in all stuff","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381191675","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381371638,"gmtCreate":1612938761324,"gmtModify":1703767160899,"author":{"id":"3553679778150469","authorId":"3553679778150469","name":"Kenny77","avatar":"https://static.tigerbbs.com/77c5e512c4b7983d3f3075d8ec4c2f2d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3553679778150469","idStr":"3553679778150469"},"htmlText":"No . As there are cheap money in the market&nbsp;","listText":"No . As there are cheap money in the market&nbsp;","text":"No . As there are cheap money in the market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381371638","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381342811,"gmtCreate":1612937618033,"gmtModify":1703767151620,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"htmlText":"Waiting...&nbsp;","listText":"Waiting...&nbsp;","text":"Waiting...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381342811","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381341441,"gmtCreate":1612937184883,"gmtModify":1703767148501,"author":{"id":"3569327319071528","authorId":"3569327319071528","name":"pyrolysis","avatar":"https://static.tigerbbs.com/d10670bec8744907565fa9bd97c22288","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3569327319071528","idStr":"3569327319071528"},"htmlText":"Seems like market is due for a healthy correction&nbsp;","listText":"Seems like market is due for a healthy correction&nbsp;","text":"Seems like market is due for a healthy correction","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381341441","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381343813,"gmtCreate":1612936909732,"gmtModify":1703767145730,"author":{"id":"3569319160707763","authorId":"3569319160707763","name":"FuJie1010","avatar":"https://static.tigerbbs.com/95099c51f8498b56c3973ded1570fc6b","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3569319160707763","idStr":"3569319160707763"},"htmlText":"Shd be second half of the year","listText":"Shd be second half of the year","text":"Shd be second half of the year","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381343813","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":381349928,"gmtCreate":1612936670464,"gmtModify":1703767143994,"author":{"id":"3555322280934257","authorId":"3555322280934257","name":"geraldwwx","avatar":"https://static.tigerbbs.com/bccdb31724278699a26408ea1426d1d2","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3555322280934257","idStr":"3555322280934257"},"htmlText":"Corrections happen all the time","listText":"Corrections happen all the time","text":"Corrections happen all the time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381349928","repostId":1169253231,"repostType":4,"repost":{"id":"1169253231","kind":"news","pubTimestamp":1612926685,"share":"https://www.laohu8.com/m/news/1169253231?lang=zh_CN&edition=full","pubTime":"2021-02-10 11:11","market":"us","language":"en","title":"Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169253231","media":"MarketWatch","summary":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest ","content":"A pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>","source":"market_watch","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>Is the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</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\">\nIs the stock market due for a correction in 2021? Here’s what some experts think<blockquote>2021年股市会出现回调吗？以下是一些专家的想法</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-02-10 11:11\n\n</h4>\n</header>\n<article>\nA pullback for the Dow Jones Industrial Average and the S&amp;P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?<blockquote>道琼斯工业平均指数和标普500指数周二的回调结束了股市数月来最长的连涨势头，但投资者的主要担忧仍然是：未来是否会出现重大调整？</blockquote> Even some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.<blockquote>甚至一些看涨的投资者也呼吁削减股市，作为下一轮上涨的一种宣泄，并解除一些疯狂的、受散户启发的押注，这些押注在COVID-19复苏期间多次将股市推升至新纪录。</blockquote> A brief pullback that began in late January, tied to the trading fervor around GameStop Corp.&nbsp;and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.<blockquote>一月底开始的短暂回调，与围绕游戏驿站和AMC院线控股的交易热情有关，市场测试了一些短期看涨趋势线，但最近市场已成功回升，在充满不确定性的一年的早期。</blockquote> The Dow Jones Industrial Average&nbsp;is up 2.5% so far in the year, the S&amp;P 500&nbsp;is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite&nbsp;and Russell 2000&nbsp;indexes on Tuesday notched their 10th record closes in 2021 thus far.<blockquote>道琼斯工业平均指数今年迄今已上涨2.5%，标普500的涨幅更明显，超过4%，而纳斯达克综合指数和罗素2000指数周二创下2021年迄今为止的第10个收盘纪录。</blockquote> The year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.<blockquote>大盘股纳斯达克今年迄今上涨8.7%，罗素2000指数上涨16.4%，反映了投资者押注的奇怪趋同：那些押注于经过新冠病毒测试的大盘股进一步繁荣的人早在3月份美国大流行后就发挥了作用，同时押注罗素指数中代表的小盘股、对经济敏感的股票将大幅反弹。</blockquote> In either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.<blockquote>无论哪种情况，谨慎的投资者和那些担心好时光不会永远持续下去的人都在为股市的下一次大幅下跌做准备，并思考它可能会如何发展。</blockquote> Earlier this week, Morgan Stanley’s Michael Wilson&nbsp;told CNBC during an interview&nbsp;that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.<blockquote>本周早些时候，摩根士丹利(Morgan Stanley)的迈克尔·威尔逊(Michael Wilson)在接受CNBC采访时表示，“它很短暂，所以如果你眨眼，你就会错过它”，指的是1月底股市的回调。</blockquote> “That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.<blockquote>威尔逊说：“目前看来就是这样，我的意思是，目前市场相当强劲，而且一直如此。”</blockquote> “There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.<blockquote>摩根士丹利分析师表示：“流动性巨大，幕后有一个非常好且非常容易理解的故事。这意味着，我们已经实现了每个人都可以看到的强劲经济复苏。到目前为止，财报季表现良好……人们已经相信了这一点。”</blockquote> He cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.<blockquote>然而，他警告说，市场仍处于“有点脆弱的状态”，并警告说，系统中的杠杆旋转可能会导致比正常情况多3%或5%的回调。</blockquote> Wilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.<blockquote>然而，威尔逊确实表示，个人投资者在金融市场的重新出现将是一股不可忽视的力量，他们目前代表了华尔街保持资产价格上涨的边际买家。</blockquote> Keith&nbsp;Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.<blockquote>Truist Advisory Services首席市场策略师基思·勒纳(Keith Lerner)表示，对股票泡沫的担忧有些过度，并且没有得到当前一批第四季度盈利结果的支持，该公司预计这将是2008年金融危机以来最好的结果。</blockquote> <img src=\"https://static.tigerbbs.com/614ce86d6f888394bc0303ea4afc4f16\" tg-width=\"1212\" tg-height=\"914\">TRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.<blockquote>TRUIST咨询服务公司/SUNTRUST咨询服务公司。</blockquote> “Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.<blockquote>勒纳在周二的一份研究报告中写道：“尽管市场中存在脱离基本面的泡沫部分，但我们并没有看到更广泛的泡沫状况。”</blockquote> “Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.<blockquote>“相反，我们看到股市的交易价格高于历史估值——部分原因是低利率、行业构成向估值较高的增长行业的转变、支持性的货币和财政政策以及更便宜的市场准入（即佣金和基金费用的长期下降），”Truist分析师补充道，并指出个人投资者进入壁垒的降低也为股票价值提供了支撑。</blockquote> Meanwhile, Daniel Pinto, a co-president at JPMorgan Chase &amp; Co.,told CNBC in a Q&amp;A&nbsp;that he expects the stock market to grind higher.<blockquote>与此同时，摩根大通联席总裁丹尼尔·平托(Daniel Pinto)在问答中告诉CNBC，他预计股市将进一步走高。</blockquote> “I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.<blockquote>“我认为市场将在今年逐渐上涨，”他告诉新闻网。他表示：“我认为短期内不会出现调整，除非情况发生巨大变化。”他将可能出现的低迷描述为小幅调整，不一定会改变整体看涨趋势。</blockquote> What could change things?<blockquote>什么能改变事情？</blockquote> Naeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.<blockquote>AvaTrade首席市场分析师Naeem Aslam在周二的一份报告中表示，美国市场的乐观情绪是由三个因素推动的：货币和财政政策的支持、新冠疫苗接种的进展以及稳健的季度业绩。</blockquote> “Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.<blockquote>阿斯拉姆写道：“基本上，明星们似乎正在排队，而且再次牛市反弹的可能性很大。”</blockquote> “In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.<blockquote>“换句话说，我们需要对当前的催化剂进行重大改变，以改变交易者的市场叙事，从而引发小幅回调，更不用说严重的调整了，”他补充道。</blockquote> MarketWatch’s William Watts writes&nbsp;that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”<blockquote>MarketWatch的威廉·沃茨(William Watts)写道，一些专家指出，2009年股市与当前股市格局最相似。瓦茨援引Canaccord Genuity首席市场策略师托尼·德怀尔(Tony Dwyer)的话说，2021年的表现可能更像2010年危机后的情景，这将为市场指明“稳健的一年”，但由于“上半年多次修正”。</blockquote> Some of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.<blockquote>一些坎坷可能来自债券市场，10年期MUBMUSD10Y, 1.162%和30年期国债MUBMUSD30Y, 1.950%测试近期收益率高点，给股市带来一定压力。</blockquote> The so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.<blockquote>所谓的通货再膨胀交易，即收益率上升，投资者被吸引到在经济好转时期可能繁荣的投资，迄今为止为投资者提供了许多虚假的曙光。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-stock-market-due-for-a-correction-in-2021-heres-what-some-experts-think-11612916422?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1169253231","content_text":"A pullback for the Dow Jones Industrial Average and the S&P 500 index on Tuesday halted the longest win streak for stocks in months, but a major concern for investors remains: Is there a major correction looming ahead?\nEven some bullish investors have called for a retrenchment in stocks as a sort of catharsis for the next leg higher and an unwind of some of the frenzied, retail-inspired betting that has repeatedly sent stocks to fresh records amid the COVID-19 recovery.\nA brief pullback that began in late January, tied to the trading fervor around GameStop Corp. and AMC Entertainment Holdings,saw markets test some short-term bullish trend lines, but recently the markets have managed to claw back to produce not-unspectacular returns in the early goings of a year chock-full of uncertainties.\nThe Dow Jones Industrial Average is up 2.5% so far in the year, the S&P 500 is enjoying a more pronounced gain of over 4%, while the Nasdaq Composite and Russell 2000 indexes on Tuesday notched their 10th record closes in 2021 thus far.\nThe year-to-date gains in the large-cap Nasdaq, up 8.7%, and the Russell 2000, up 16.4%, reflect an odd convergence of investor bets: Those wagering on further prosperity in COVID-tested, large-capitalization growth stocks that worked in the aftermath of the pandemic in the U.S. back in March, alongside bets for a sizable rebound in small-cap, economically sensitive stocks represented in the Russell.\nIn either case, cautious investors and those worried that the good times can’t last forever are bracing for the next major slump for stocks, and ruminating on how it might play out.\nEarlier this week, Morgan Stanley’s Michael Wilson told CNBC during an interview that “It was brief, so if you blinked you missed it,” referring to the pullback in stocks in late January.\n“That looks like that was it for now, and I mean, the markets are quite powerful at the moment, and they have been,” Wilson said.\n“There’s tremendous liquidity, there’s a very good and very understandable story behind the scenes. Meaning, we’ve got a strong economic recovery that’s visible to everyone. The earnings season’s been good so far…and people have bought into it,” the Morgan Stanley analyst said.\nHe cautioned, however, that the market remains in a “a bit of a fragile state,” and warned that leverage swirling in the system could make pullbacks of 3% or 5% more of the norm.\nWilson did say, however, that the re-emergence of individual investors in financial markets would be a force to be reckoned with, and that they currently represent the marginal buyer on Wall Street keeping asset prices buoyant.\nKeith Lerner, chief market strategist at Truist Advisory Services, said that concerns of a stock bubble are overdone and not supported by the current batch of fourth-quarter earnings results, which his firm estimates will be the best since the 2008 financial crisis.\nTRUIST ADVISORY SERVICES INC./SUNTRUST ADVISORY SERVICES INC.\n“Although there are frothy segments of the market that are detached from fundamentals, we do not see bubble conditions more broadly,” Lerner wrote in a research report dated Tuesday.\n“Instead, we see a stock market that is trading at a premium to historical valuations—partly justified by low rates, a shift in sector composition toward higher-valued growth sectors, supportive monetary and fiscal policy, as well as cheaper access to markets (i.e., secular decline in commissions and fund fees),” the Truist analysts added, noting that a lower barrier to entry for individual investors also was providing support for stock values.\nMeanwhile, Daniel Pinto, a co-president at JPMorgan Chase & Co.,told CNBC in a Q&A that he expects the stock market to grind higher.\n“I think the market will gradually grind up during the year,” he told the news network. “I don’t see a correction anytime soon, unless the situation changes dramatically,” he said, describing possible downturns as mini corrections that won’t necessarily change the overall bullish trend.\nWhat could change things?\nNaeem Aslam, chief market analyst at AvaTrade, in a Tuesday report said that optimism in the U.S. market is driven by three actors: Support from monetary and fiscal policy, progress in COVID vaccinations and the solid quarterly results.\n“Basically, it seems like the stars are getting in line, and there are strong odds stacked in favour of another bull rally,” Aslam wrote.\n“In other words, we need something major changing in the current catalyst to shift the market narrative among traders that can trigger a minor pullback—let alone a serious correction,” he added.\nMarketWatch’s William Watts writes that some experts are pointing to the 2009 stock market as the closest parallel to the current setup for equities. Quoting Tony Dwyer, chief market strategist at Canaccord Genuity, Watts noted that 2021 could play out more like the postcrisis scenario seen in 2010, which would point the way to a “solid year” for the market, but with a bumpy ride thanks to “multiple first-half corrections.”\nSome of the bumpiness might emanate from the bond market, with the 10-yearTMUBMUSD10Y,1.162%and 30-year TreasurysTMUBMUSD30Y,1.950%testing recent yield highs and putting some pressure on equities.\nThe so-called reflation trade, where yields rise and investors gravitate to investments that might prosper in better economic times, has provided a number of false dawns for investors so far.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":124,"commentSize":49,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}