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2021-10-06

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For your shopping list: These big tech stocks have dropped as much as 20% over the past month

2021-10-04

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US IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week

2021-09-30

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2021 Global Market Outlook - Q4 Update: Growing Pains

2021-09-26

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Opinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell

2021-09-22

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After-Hours Stock Movers: Marin, FedEx, Adobe and more

2021-09-20

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The One Indicator That Has Wall Street Biting Its Nails

2021-09-16

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First all-civilian crew bound for orbit launches aboard SpaceX rocket ship

2021-09-14

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Danger Lurks for These 3 High-Yield Dividend Stocks

2021-09-08

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Toplines Before US Market Open on Wednesday

2021-09-05

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The Three Big Transitions Reshaping Finance

2021-09-03

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2021-09-01

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Goldman Sachs sees as much as 33% upside in these stocks — peek before they pop

2021-08-30

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2021-08-29

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This Unloved Tech Stock Could Make You Rich One Day

2021-08-27

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2021-08-24

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2021-08-23

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2021-08-22

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S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians

2021-08-20

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Ark's Cathie Wood says stock market 'couldn't be further away from a bubble.' Here's why.

2021-08-18

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Wall Street slumps after weak retail sales, Home Depot results

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What investors never know is how long it will take for the inevitable sector reversal.</p>\n<p>A list of the worst-performing technology stocks over the past month among the S&amp;P 500 Index&nbsp;and the Nasdaq 100 Index&nbsp;is below.</p>\n<p>Here’s how the 11 sectors of the S&amp;P 500 Index have performed over the past month, excluding dividends:</p>\n<p><img src=\"https://static.tigerbbs.com/c8f5d4fa7bb043e7fcc06892e36975c0\" tg-width=\"1093\" tg-height=\"689\" referrerpolicy=\"no-referrer\"></p>\n<p>All in all, 2021 has been a fine year for stock market performance, especially when considering that it has followed what turned out to be a good 2020 for most sectors. The technology sector was the third-worst-performing sector from Sept. 3 through Oct. 4, but it has been the clear leader from the end of 2019 through the Covid-19 pandemic.</p>\n<p>Wedbush analyst Dan Ives attributed the pullback in technology stocks to the fear of rising interest rates and concern over growth-stock valuations in a note to clients on Oct. 5. He went on to predict the pressure on tech stocks would be “short-lived” and that the sector would be up 10% from here through the end of 2021.</p>\n<p>“[T]he tech growth stories are being massively underestimated by the Street in&nbsp;our opinion with 3Q earnings a major positive catalyst for the tech sector looking&nbsp;ahead,” Ives wrote.</p>\n<p>The overwhelming tendency for companies reporting quarterly results to beat analysts’ consensus estimates may well turn the analyst’s prediction into reality in only a few weeks.</p>\n<p>Ives sees a “multitrillion opportunity for the next decade” as the digital transformation of multiple industries continues. His favorite investments include Apple Inc.&nbsp;among the FAANG stocks. For plays on cloud computing, his favorites among large-cap stocks are Microsoft Corp.&nbsp;and DocuSign Inc.Among large-cap companies poised for the best growth as cybersecurity threats are dealt with, Ives’s top recommendations are Zscaler Inc.,Palo Alto Networks Inc.&nbsp;and Fortinet Inc..</p>\n<p><b>Biggest large-cap tech drops over the past month</b></p>\n<p>To list tech stocks, we began with the S&amp;P 500 information technology sector and then added tech-oriented names in other sectors, such as Facebook Inc.,Twitter Inc.&nbsp;and videogame developers in the communications sector and Amazon.com Inc.&nbsp;in the consumer discretionary sector. We then added tech companies in the Nasdaq-100 that aren’t included in the S&amp;P 500.</p>\n<p>From this expanded list of 105 tech stocks, here are the 20 worst performers from Sept. 3 through Oct. 4:</p>\n<p><img src=\"https://static.tigerbbs.com/d705f2cc5483edcc3d71a32588491010\" tg-width=\"781\" tg-height=\"853\" referrerpolicy=\"no-referrer\"></p>\n<p>Leaving the group of 20 tech stocks in the same order, here’s a summary of opinion among Wall Street analysts polled by FactSet:</p>\n<p><img src=\"https://static.tigerbbs.com/b5ff770f5711640a821e1075b09979d2\" tg-width=\"790\" tg-height=\"842\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>For your shopping list: These big tech stocks have dropped as much as 20% over the past month</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nFor your shopping list: These big tech stocks have dropped as much as 20% over the past month\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-06 08:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/for-your-shopping-list-these-big-tech-stocks-have-dropped-as-much-as-20-over-the-past-month-11633442943?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hard-hit tech stocks include DocuSign, Adobe, Nvidia and Facebook\nShares of these four tech-oriented companies have dropped between 16% and 20% over the past month.\nTechnology stocks have slumped. ...</p>\n\n<a href=\"https://www.marketwatch.com/story/for-your-shopping-list-these-big-tech-stocks-have-dropped-as-much-as-20-over-the-past-month-11633442943?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多","ADBE":"Adobe","QCOM":"高通",".DJI":"道琼斯","AAPL":"苹果","PTON":"Peloton Interactive, Inc.","ENPH":"Enphase Energy","JD":"京东",".IXIC":"NASDAQ Composite","DOCU":"Docusign","NVDA":"英伟达","PYPL":"PayPal","MELI":"MercadoLibre",".SPX":"S&P 500 Index","OKTA":"Okta Inc.","ZM":"Zoom","CRWD":"CrowdStrike Holdings, Inc."},"source_url":"https://www.marketwatch.com/story/for-your-shopping-list-these-big-tech-stocks-have-dropped-as-much-as-20-over-the-past-month-11633442943?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123518290","content_text":"Hard-hit tech stocks include DocuSign, Adobe, Nvidia and Facebook\nShares of these four tech-oriented companies have dropped between 16% and 20% over the past month.\nTechnology stocks have slumped. What investors never know is how long it will take for the inevitable sector reversal.\nA list of the worst-performing technology stocks over the past month among the S&P 500 Index and the Nasdaq 100 Index is below.\nHere’s how the 11 sectors of the S&P 500 Index have performed over the past month, excluding dividends:\n\nAll in all, 2021 has been a fine year for stock market performance, especially when considering that it has followed what turned out to be a good 2020 for most sectors. The technology sector was the third-worst-performing sector from Sept. 3 through Oct. 4, but it has been the clear leader from the end of 2019 through the Covid-19 pandemic.\nWedbush analyst Dan Ives attributed the pullback in technology stocks to the fear of rising interest rates and concern over growth-stock valuations in a note to clients on Oct. 5. He went on to predict the pressure on tech stocks would be “short-lived” and that the sector would be up 10% from here through the end of 2021.\n“[T]he tech growth stories are being massively underestimated by the Street in our opinion with 3Q earnings a major positive catalyst for the tech sector looking ahead,” Ives wrote.\nThe overwhelming tendency for companies reporting quarterly results to beat analysts’ consensus estimates may well turn the analyst’s prediction into reality in only a few weeks.\nIves sees a “multitrillion opportunity for the next decade” as the digital transformation of multiple industries continues. His favorite investments include Apple Inc. among the FAANG stocks. For plays on cloud computing, his favorites among large-cap stocks are Microsoft Corp. and DocuSign Inc.Among large-cap companies poised for the best growth as cybersecurity threats are dealt with, Ives’s top recommendations are Zscaler Inc.,Palo Alto Networks Inc. and Fortinet Inc..\nBiggest large-cap tech drops over the past month\nTo list tech stocks, we began with the S&P 500 information technology sector and then added tech-oriented names in other sectors, such as Facebook Inc.,Twitter Inc. and videogame developers in the communications sector and Amazon.com Inc. in the consumer discretionary sector. We then added tech companies in the Nasdaq-100 that aren’t included in the S&P 500.\nFrom this expanded list of 105 tech stocks, here are the 20 worst performers from Sept. 3 through Oct. 4:\n\nLeaving the group of 20 tech stocks in the same order, here’s a summary of opinion among Wall Street analysts polled by FactSet:","news_type":1},"isVote":1,"tweetType":1,"viewCount":1276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820094772,"gmtCreate":1633321951661,"gmtModify":1633321952761,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/820094772","repostId":"1186540865","repostType":4,"repost":{"id":"1186540865","kind":"news","pubTimestamp":1633289898,"share":"https://www.laohu8.com/m/news/1186540865?lang=&edition=full","pubTime":"2021-10-04 03:38","market":"us","language":"en","title":"US IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1186540865","media":"Renaissance Capital","summary":"In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness co","content":"<p>In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.</p>\n<p>Fitness chain<b>Life Time Group Holdings</b>(LTH) plans to raise $901 million at a $4.1 billion market cap. Taken private in 2015, Life Time operates more than 150 \"centers\" across 29 US states and one province in Canada, serving nearly 1.4 million individual members as of 7/31/21. While the company was hit hard by the pandemic, operations have since improved dramatically, with revenue quadrupling in the 2Q21.</p>\n<p>Fitness equipment brand<b>iFIT Health &amp; Fitness</b>(IFIT) plans to raise $600 million at a $6.4 billion market cap. iFIT is the #1 provider of large fitness equipment in the US, selling under brands including iFIT, NordicTrack, ProForm, and Freemotion. Fast growing and unprofitable, the company serves a community of over 6.1 million members and 1.5 million subscribers in over 120 countries.</p>\n<p>Proteomics platform<b>IsoPlexis</b>(ISO) plans to raise $125 million at a $648 million market cap. IsoPlexis believes its platform is the first to employ both proteomics and single cell biology to characterize and link cellular function to patient outcomes. Fast growing and highly unprofitable, the company's platform has been adopted by the top 15 global biopharmas and nearly half of the comprehensive cancer centers in the US since its commercial launch in June 2018.</p>\n<p>Biotech<b>Theseus Pharmaceuticals</b>(THRX) plans to raise $125 million at a $593 million market cap. Theseus’ lead candidate is a pan-variant inhibitor of all major classes of activating/resistance mutations of the KIT kinase for of gastrointestinal stromal tumors (GIST). The company recently submitted an IND for advanced GIST and plans to initiate a Phase 1/2 trial between late 4Q21 and mid 1Q22.</p>\n<p>Drug developer<b>Cingulate</b>(CING) plans to raise $50 million at a $225 million market cap. Its two candidates, CTx-1301 and CTx-1302, are being developed for the treatment of ADHD. The company announced positive results from a Phase 1/2 study of CTx-1301 in October 2020, and plans to initiate Phase 3 trials in the 4Q21 with results expected in late 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/610fa042e4de459e4597ed8086743234\" tg-width=\"1894\" tg-height=\"912\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1603787993745","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>US IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nUS IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-04 03:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.\nFitness chainLife Time Group Holdings(LTH) plans to raise $901 million at a $4.1 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LTH":"Life Time Group Holdings, Inc.","THRX":"Theseus Pharmaceuticals, Inc.","ISO":"IsoPlexis Corp.","CING":"CINGULATE INC."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186540865","content_text":"In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.\nFitness chainLife Time Group Holdings(LTH) plans to raise $901 million at a $4.1 billion market cap. Taken private in 2015, Life Time operates more than 150 \"centers\" across 29 US states and one province in Canada, serving nearly 1.4 million individual members as of 7/31/21. While the company was hit hard by the pandemic, operations have since improved dramatically, with revenue quadrupling in the 2Q21.\nFitness equipment brandiFIT Health & Fitness(IFIT) plans to raise $600 million at a $6.4 billion market cap. iFIT is the #1 provider of large fitness equipment in the US, selling under brands including iFIT, NordicTrack, ProForm, and Freemotion. Fast growing and unprofitable, the company serves a community of over 6.1 million members and 1.5 million subscribers in over 120 countries.\nProteomics platformIsoPlexis(ISO) plans to raise $125 million at a $648 million market cap. IsoPlexis believes its platform is the first to employ both proteomics and single cell biology to characterize and link cellular function to patient outcomes. Fast growing and highly unprofitable, the company's platform has been adopted by the top 15 global biopharmas and nearly half of the comprehensive cancer centers in the US since its commercial launch in June 2018.\nBiotechTheseus Pharmaceuticals(THRX) plans to raise $125 million at a $593 million market cap. Theseus’ lead candidate is a pan-variant inhibitor of all major classes of activating/resistance mutations of the KIT kinase for of gastrointestinal stromal tumors (GIST). The company recently submitted an IND for advanced GIST and plans to initiate a Phase 1/2 trial between late 4Q21 and mid 1Q22.\nDrug developerCingulate(CING) plans to raise $50 million at a $225 million market cap. Its two candidates, CTx-1301 and CTx-1302, are being developed for the treatment of ADHD. The company announced positive results from a Phase 1/2 study of CTx-1301 in October 2020, and plans to initiate Phase 3 trials in the 4Q21 with results expected in late 2022.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865219862,"gmtCreate":1632985616886,"gmtModify":1632985617860,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865219862","repostId":"1104172212","repostType":4,"repost":{"id":"1104172212","kind":"news","pubTimestamp":1632965278,"share":"https://www.laohu8.com/m/news/1104172212?lang=&edition=full","pubTime":"2021-09-30 09:27","market":"us","language":"en","title":"2021 Global Market Outlook - Q4 Update: Growing Pains","url":"https://stock-news.laohu8.com/highlight/detail?id=1104172212","media":"seekingalpha","summary":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double","content":"<p><b>Summary</b></p>\n<ul>\n <li>The post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.</li>\n <li>The reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.</li>\n <li>The key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.</li>\n</ul>\n<p>The COVID-19 delta variant, inflation and central bank tapering are unnerving investors. <b>We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.</b></p>\n<p><b>Introduction</b></p>\n<p>The post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.</p>\n<p>Another worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.</p>\n<p>The conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.</p>\n<p><b>Cycle still in recovery phase</b></p>\n<p>The post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.</p>\n<p><b>U.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS</b></p>\n<p><img src=\"https://static.tigerbbs.com/28a91fe2991463e2285879c32cb1b8c7\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>The U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.</p>\n<p><b>GDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019</b></p>\n<p><img src=\"https://static.tigerbbs.com/577d1b96aef08b71c9bdb6665a21b2ac\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Two key indicators</b></p>\n<p>Last quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.</p>\n<p>The first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.</p>\n<p><b>WATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE</b></p>\n<p><img src=\"https://static.tigerbbs.com/13f3cf57b58f600fe6681e9015779e85\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>The second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.</p>\n<p><b>WATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER</b></p>\n<p><img src=\"https://static.tigerbbs.com/a1d3ff1ca26f6d29a28f919c65531c9a\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Reopening trade still makes sense</b></p>\n<p>The reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.</p>\n<p>The reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.</p>\n<p>The rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.</p>\n<p>Emerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.</p>\n<p>The resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.</p>\n<p><b>Risks: variants, inflation, China weakness</b></p>\n<p>The key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.</p>\n<p>Another watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.</p>\n<p>Finally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.</p>\n<p><b>Regional snapshotsUnited States</b></p>\n<p>The U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&amp;P 500® Index earnings-per-share already sit 20% above their previous cyclical high.</p>\n<p>Strong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.</p>\n<p>Wage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.</p>\n<p>Fiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&amp;P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be a<i>risk-on</i>preference for equities over bonds for the medium-term.</p>\n<p><b>Eurozone</b></p>\n<p>Euro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).</p>\n<p>The MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&amp;P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.</p>\n<p><b>United Kingdom</b></p>\n<p>As of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.</p>\n<p>The FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.</p>\n<p><b>Japan</b></p>\n<p>The Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.</p>\n<p><b>China</b></p>\n<p>We expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.</p>\n<p><b>Canada</b></p>\n<p>Canada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.</p>\n<p>Tapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.</p>\n<p><b>Australia/New Zealand</b></p>\n<p>The Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.</p>\n<p>New Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.</p>\n<p><b>Asset-class preferences</b></p>\n<p>Our cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.</p>\n<p><b>COMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL</b></p>\n<p><img src=\"https://static.tigerbbs.com/5c527955abbc9e770d200c1d709f80d8\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<ul>\n <li>We prefer<b>non-U.S. equities</b>to U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.</li>\n <li><b>Emerging markets equities</b>have been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.</li>\n <li><b>High yield</b>and<b>investment grade credit</b>are expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominated<b>emerging markets debt</b>is close to fair value in spread terms and will gain support on U.S. dollar weakness.</li>\n <li><b>Government bonds</b>are expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.</li>\n <li><b>Real assets</b>: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.<b>Commodities</b>have been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.</li>\n <li>The<b>U.S. dollar</b>has been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be the<b>euro</b>, which is still undervalued. We also believe<b>British sterling</b>and the economically sensitive<i>commodity currencies</i>—the<b>Australian dollar</b>, the<b>New Zealand dollar</b>and the<b>Canadian dollar</b>—can make further gains, although these currencies are not undervalued from a longer-term perspective.</li>\n</ul>\n<p><b>ASSET PERFORMANCE SINCE THE BEGINNING OF 2021</b></p>\n<p><img src=\"https://static.tigerbbs.com/50e253becd38bd122d9fc211e7b0f583\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.</p>\n<p><b>Important Information</b></p>\n<p>The views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.</p>\n<p>Please remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.</p>\n<p>Keep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.</p>\n<p>No model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.</p>\n<p>Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.</p>\n<p>Investment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.</p>\n<p>Currency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.</p>\n<p>Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.</p>\n<p>Bond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.</p>\n<p>Performance quoted represents past performance and should not be viewed as a guarantee of future results.</p>\n<p>The FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.</p>\n<p>The S&amp;P 500® Index, or the Standard &amp; Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.</p>\n<p>The MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.</p>\n<p>Indexes are unmanaged and cannot be invested in directly.</p>\n<p>Copyright © Russell Investments 2021. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an “as is” basis without warranty.</p>\n<p>Frank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.</p>\n<p>Products and services described on this website are intended for<b>United States residents only</b>. Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained on this website should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. Persons outside the United States may find more information about products and services available within their jurisdictions by going to Russell Investments' Worldwide site.</p>\n<p>Russell Investments is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone, and applying the relevant accessibility standards.</p>\n<p>Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.</p>","source":"seekingalpha","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>2021 Global Market Outlook - Q4 Update: Growing Pains</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n2021 Global Market Outlook - Q4 Update: Growing Pains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 09:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in ...</p>\n\n<a href=\"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104172212","content_text":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.\n\nThe COVID-19 delta variant, inflation and central bank tapering are unnerving investors. We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.\nIntroduction\nThe post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.\nAnother worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.\nThe conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.\nCycle still in recovery phase\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.\nU.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS\n\nThe U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.\nGDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019\n\nTwo key indicators\nLast quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.\nThe first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.\nWATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE\n\nThe second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.\nWATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER\n\nReopening trade still makes sense\nThe reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.\nThe rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.\nEmerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.\nThe resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.\nRisks: variants, inflation, China weakness\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.\nAnother watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.\nFinally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.\nRegional snapshotsUnited States\nThe U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&P 500® Index earnings-per-share already sit 20% above their previous cyclical high.\nStrong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.\nWage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.\nFiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be arisk-onpreference for equities over bonds for the medium-term.\nEurozone\nEuro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).\nThe MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.\nUnited Kingdom\nAs of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.\nThe FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.\nJapan\nThe Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.\nChina\nWe expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.\nCanada\nCanada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.\nTapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.\nAustralia/New Zealand\nThe Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.\nNew Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.\nAsset-class preferences\nOur cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.\nCOMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL\n\n\nWe prefernon-U.S. equitiesto U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.\nEmerging markets equitieshave been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.\nHigh yieldandinvestment grade creditare expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominatedemerging markets debtis close to fair value in spread terms and will gain support on U.S. dollar weakness.\nGovernment bondsare expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.\nReal assets: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.Commoditieshave been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.\nTheU.S. dollarhas been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be theeuro, which is still undervalued. We also believeBritish sterlingand the economically sensitivecommodity currencies—theAustralian dollar, theNew Zealand dollarand theCanadian dollar—can make further gains, although these currencies are not undervalued from a longer-term perspective.\n\nASSET PERFORMANCE SINCE THE BEGINNING OF 2021\n\n1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.\nImportant Information\nThe views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.\nPlease remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.\nKeep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.\nNo model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.\nForecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.\nInvestment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.\nCurrency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.\nInvestments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.\nBond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.\nPerformance quoted represents past performance and should not be viewed as a guarantee of future results.\nThe FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.\nThe S&P 500® Index, or the Standard & Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.\nThe MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.\nIndexes are unmanaged and cannot be invested in directly.\nCopyright © Russell Investments 2021. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an “as is” basis without warranty.\nFrank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.\nProducts and services described on this website are intended forUnited States residents only. Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained on this website should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. Persons outside the United States may find more information about products and services available within their jurisdictions by going to Russell Investments' Worldwide site.\nRussell Investments is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone, and applying the relevant accessibility standards.\nRussell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1123,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868507911,"gmtCreate":1632667208933,"gmtModify":1632798693290,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/868507911","repostId":"1175726457","repostType":4,"repost":{"id":"1175726457","kind":"news","pubTimestamp":1632626757,"share":"https://www.laohu8.com/m/news/1175726457?lang=&edition=full","pubTime":"2021-09-26 11:25","market":"sh","language":"en","title":"Opinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell","url":"https://stock-news.laohu8.com/highlight/detail?id=1175726457","media":"Market Watch","summary":"It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for tw","content":"<p>It’s an urgent question, since the <a href=\"https://laohu8.com/S/C\">Citigroup</a> Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the extent to which the latest economic news deviates from the Wall Street consensus. The past two months of consistently negative CESI readings therefore mean that the economic news, on balance, has been worse than expected.</p>\n<p>Is it good news or bad for stock investors that recent U.S. economic news releases have been significantly worse than expected?</p>\n<p>The latest reading from the Citigroup Economic Surprise Index (CESI) is minus 29.2. <a href=\"https://laohu8.com/S/JE\">Just</a> 10 days ago it was even more negative, at minus 61.7. Its average over the last 18 years is 4.6.</p>\n<p><img src=\"https://static.tigerbbs.com/dd20c01571a824c8113089a65b814bb3\" tg-width=\"700\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>There is no consensus among the advisers I monitor about what these latest readings mean. Some believe it’s good news, on the contrarian theory that the worse-than-expected news constitutes a“wall of worry”that the U.S. bull market can climb. Others argue that you can’t sugar-coat worse-than-expected economic news.</p>\n<p>To help resolve their disagreement, I analyzed daily CESI data back to 2003. Specifically, I measured its correlation with the S&amp;P 500’sSPX,+0.15%return over the subsequent month-, quarter-, six months, and <a href=\"https://laohu8.com/S/AONE.U\">one</a> year. I came up with nothing that met traditional standards of statistical significance.</p>\n<p>A summary of what I found is plotted in the chart below. Notice that the S&amp;P 500’s average return is virtually the same regardless of whether the CESI is positive or negative, trending upward or downward.</p>\n<p><img src=\"https://static.tigerbbs.com/65016b28c482526ac92a5d6035ba9ed9\" tg-width=\"700\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>These findings are not a criticism of the CESI itself. Citigroup created the index as a useful tool for foreign exchange traders.Citigroup has saidthat the CESI “is a perfect example of unique proprietary design which has almost no bearing on those who discuss it… It was not meant to be used for stock prices.”</p>\n<p>There’s a broader lesson here for us to learn as well: We need to subject our intuitions to empirical reality checks. That’s especially important when our hunches seem so obviously true — as is the case when it comes to whether the economic news is coming in better or worse than expected. Stock market history is filled with expectations that were guaranteed to happen but which did not.</p>\n<p>It can be tedious plowing through huge databases to see if a pattern really exists. But it’s worth the effort. Though being statistically rigorous does not guarantee that you will beat the market, you most assuredly will lose to the market if you’re statistically sloppy and inconsistent.</p>","source":"lsy1616996754749","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>Opinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nOpinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-26 11:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page><strong>Market Watch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175726457","content_text":"It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the extent to which the latest economic news deviates from the Wall Street consensus. The past two months of consistently negative CESI readings therefore mean that the economic news, on balance, has been worse than expected.\nIs it good news or bad for stock investors that recent U.S. economic news releases have been significantly worse than expected?\nThe latest reading from the Citigroup Economic Surprise Index (CESI) is minus 29.2. Just 10 days ago it was even more negative, at minus 61.7. Its average over the last 18 years is 4.6.\n\nThere is no consensus among the advisers I monitor about what these latest readings mean. Some believe it’s good news, on the contrarian theory that the worse-than-expected news constitutes a“wall of worry”that the U.S. bull market can climb. Others argue that you can’t sugar-coat worse-than-expected economic news.\nTo help resolve their disagreement, I analyzed daily CESI data back to 2003. Specifically, I measured its correlation with the S&P 500’sSPX,+0.15%return over the subsequent month-, quarter-, six months, and one year. I came up with nothing that met traditional standards of statistical significance.\nA summary of what I found is plotted in the chart below. Notice that the S&P 500’s average return is virtually the same regardless of whether the CESI is positive or negative, trending upward or downward.\n\nThese findings are not a criticism of the CESI itself. Citigroup created the index as a useful tool for foreign exchange traders.Citigroup has saidthat the CESI “is a perfect example of unique proprietary design which has almost no bearing on those who discuss it… It was not meant to be used for stock prices.”\nThere’s a broader lesson here for us to learn as well: We need to subject our intuitions to empirical reality checks. That’s especially important when our hunches seem so obviously true — as is the case when it comes to whether the economic news is coming in better or worse than expected. Stock market history is filled with expectations that were guaranteed to happen but which did not.\nIt can be tedious plowing through huge databases to see if a pattern really exists. But it’s worth the effort. Though being statistically rigorous does not guarantee that you will beat the market, you most assuredly will lose to the market if you’re statistically sloppy and inconsistent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":869664928,"gmtCreate":1632281913664,"gmtModify":1632801507732,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/869664928","repostId":"2169637993","repostType":4,"repost":{"id":"2169637993","kind":"news","pubTimestamp":1632267840,"share":"https://www.laohu8.com/m/news/2169637993?lang=&edition=full","pubTime":"2021-09-22 07:44","market":"us","language":"en","title":"After-Hours Stock Movers: Marin, FedEx, Adobe and more","url":"https://stock-news.laohu8.com/highlight/detail?id=2169637993","media":"StreetInsider","summary":"After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Goo","content":"<p>After-Hours Movers:</p>\n<p><a href=\"https://laohu8.com/S/MRIN\">Marin</a> (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.</p>\n<p><a href=\"https://laohu8.com/S/SMMT\">Summit Therapeutics PLC</a> (NASDAQ: SMMT) 19.8% LOWER; received feedback from the United States Food and Drug Administration (the “FDA”) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies when combining the studies. As Summit previously communicated, it has combined the Phase III studies into a single study and will provide the combined results to all stakeholders, as the top line results become available. These top line results will best inform all parties as to the next appropriate course of action regarding ridinilazole. Summit anticipates communicating these results during the first quarter of 2022.</p>\n<p><a href=\"https://laohu8.com/S/SFIX\">Stitch Fix Inc.</a> (NASDAQ: SFIX) 15.6% HIGHER; reported Q4 EPS of $0.19, $0.32 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $571.2 million versus the consensus estimate of $547.89 million. Stitch Fix sees Q1 2022 revenue of $560-575 million, versus the consensus of $591 million.</p>\n<p><a href=\"https://laohu8.com/S/LPTX\">Leap Therapeutics Inc</a> (Nasdaq: LPTX) 10.2% LOWER; commenced an underwritten public offering of its common stock and, in lieu of common stock, Leap intends to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. Leap intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the securities offered in the public offering. The offering is subject to market, regulatory, and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.</p>\n<p><a href=\"https://laohu8.com/S/FDX\">FedEx</a> (NYSE: FDX) 4.5% LOWER; reported Q1 EPS of $4.37, $0.63 worse than the analyst estimate of $5.00. Revenue for the quarter came in at $22 billion versus the consensus estimate of $21.91 billion. FedEx sees FY2022 EPS of $19.75-$21.00, versus the consensus of $21.20.</p>\n<p><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Systems (NASDAQ: ADBE) 4% LOWER; reported Q3 EPS of $3.11, $0.10 better than the analyst estimate of $3.01. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.89 billion. Adobe Systems sees Q4 2021 EPS of $3.18, versus the consensus of $3.08. Adobe Systems sees Q4 2021 revenue of $4.07 billion, versus the consensus of $4.04 billion.</p>\n<p><a href=\"https://laohu8.com/S/H\">Hyatt</a> Corporation (NYSE: H) 3% LOWER; commenced an underwritten registered public offering of 7,000,000 shares of its Class A common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its Class A common stock. The offering is subject to market and other customary conditions.</p>","source":"highlight_streetinsider","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>After-Hours Stock Movers: Marin, FedEx, Adobe and more</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nAfter-Hours Stock Movers: Marin, FedEx, Adobe and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-22 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18966188><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.\nSummit ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18966188\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRIN":"Marin Software Inc.","LPTX":"Leap Therapeutics Inc","SMMT":"Summit Therapeutics PLC","SFIX":"Stitch Fix Inc.","FDX":"联邦快递"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18966188","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169637993","content_text":"After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.\nSummit Therapeutics PLC (NASDAQ: SMMT) 19.8% LOWER; received feedback from the United States Food and Drug Administration (the “FDA”) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies when combining the studies. As Summit previously communicated, it has combined the Phase III studies into a single study and will provide the combined results to all stakeholders, as the top line results become available. These top line results will best inform all parties as to the next appropriate course of action regarding ridinilazole. Summit anticipates communicating these results during the first quarter of 2022.\nStitch Fix Inc. (NASDAQ: SFIX) 15.6% HIGHER; reported Q4 EPS of $0.19, $0.32 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $571.2 million versus the consensus estimate of $547.89 million. Stitch Fix sees Q1 2022 revenue of $560-575 million, versus the consensus of $591 million.\nLeap Therapeutics Inc (Nasdaq: LPTX) 10.2% LOWER; commenced an underwritten public offering of its common stock and, in lieu of common stock, Leap intends to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. Leap intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the securities offered in the public offering. The offering is subject to market, regulatory, and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\nFedEx (NYSE: FDX) 4.5% LOWER; reported Q1 EPS of $4.37, $0.63 worse than the analyst estimate of $5.00. Revenue for the quarter came in at $22 billion versus the consensus estimate of $21.91 billion. FedEx sees FY2022 EPS of $19.75-$21.00, versus the consensus of $21.20.\nAdobe Systems (NASDAQ: ADBE) 4% LOWER; reported Q3 EPS of $3.11, $0.10 better than the analyst estimate of $3.01. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.89 billion. Adobe Systems sees Q4 2021 EPS of $3.18, versus the consensus of $3.08. Adobe Systems sees Q4 2021 revenue of $4.07 billion, versus the consensus of $4.04 billion.\nHyatt Corporation (NYSE: H) 3% LOWER; commenced an underwritten registered public offering of 7,000,000 shares of its Class A common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its Class A common stock. The offering is subject to market and other customary conditions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860969800,"gmtCreate":1632122657100,"gmtModify":1632802698356,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/860969800","repostId":"1196172424","repostType":4,"repost":{"id":"1196172424","kind":"news","pubTimestamp":1632105381,"share":"https://www.laohu8.com/m/news/1196172424?lang=&edition=full","pubTime":"2021-09-20 10:36","market":"us","language":"en","title":"The One Indicator That Has Wall Street Biting Its Nails","url":"https://stock-news.laohu8.com/highlight/detail?id=1196172424","media":"Barrons","summary":"The stock market dropped because there’s something scarier than taxes, tapers, and contagion.","content":"<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.</p>\n<p>The predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.</p>\n<p>But then the&nbsp;S&amp;P 500&nbsp;dropped 0.6%, to 4432.99, over the week, while the&nbsp;Dow Jones Industrial Average&nbsp;fell 0.1%, to 34,584.88, and the&nbsp;Nasdaq Composite&nbsp;slumped 0.5%, to 15,043.97. For the S&amp;P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.</p>\n<p>That the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&amp;P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.</p>\n<p>“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”</p>\n<p>This time has a different feel to it. The S&amp;P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”</p>\n<p>Still, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&amp;P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.</p>\n<p>The market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.</p>\n<p>But perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”</p>\n<p>We just have to get there first.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The One Indicator That Has Wall Street Biting Its Nails</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe One Indicator That Has Wall Street Biting Its Nails\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-20 10:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196172424","content_text":"Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.\nBut then the S&P 500 dropped 0.6%, to 4432.99, over the week, while the Dow Jones Industrial Average fell 0.1%, to 34,584.88, and the Nasdaq Composite slumped 0.5%, to 15,043.97. For the S&P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.\nThat the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.\n“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”\nThis time has a different feel to it. The S&P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”\nStill, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.\nThe market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.\nBut perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”\nWe just have to get there first.","news_type":1},"isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885198418,"gmtCreate":1631762153934,"gmtModify":1631888310798,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885198418","repostId":"2167185235","repostType":4,"repost":{"id":"2167185235","kind":"news","pubTimestamp":1631752106,"share":"https://www.laohu8.com/m/news/2167185235?lang=&edition=full","pubTime":"2021-09-16 08:28","market":"us","language":"en","title":"First all-civilian crew bound for orbit launches aboard SpaceX rocket ship","url":"https://stock-news.laohu8.com/highlight/detail?id=2167185235","media":"The Straits Times","summary":"CAPE CANAVERAL, FLORIDA (REUTERS) - A SpaceX rocket ship blasted off from Florida on Wednesday (Sept","content":"<div>\n<p>CAPE CANAVERAL, FLORIDA (REUTERS) - A SpaceX rocket ship blasted off from Florida on Wednesday (Sept 15) carrying a billionaire e-commerce executive and three less-wealthy private citizens he chose to...</p>\n\n<a href=\"http://www.straitstimes.com/world/united-states/spacex-go-for-launch-of-first-all-civilian-crew-bound-for-orbit\">Web Link</a>\n\n</div>\n","source":"straits_highlight","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>First all-civilian crew bound for orbit launches aboard SpaceX rocket ship</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nFirst all-civilian crew bound for orbit launches aboard SpaceX rocket ship\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-16 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/world/united-states/spacex-go-for-launch-of-first-all-civilian-crew-bound-for-orbit><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CAPE CANAVERAL, FLORIDA (REUTERS) - A SpaceX rocket ship blasted off from Florida on Wednesday (Sept 15) carrying a billionaire e-commerce executive and three less-wealthy private citizens he chose to...</p>\n\n<a href=\"http://www.straitstimes.com/world/united-states/spacex-go-for-launch-of-first-all-civilian-crew-bound-for-orbit\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"http://www.straitstimes.com/world/united-states/spacex-go-for-launch-of-first-all-civilian-crew-bound-for-orbit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167185235","content_text":"CAPE CANAVERAL, FLORIDA (REUTERS) - A SpaceX rocket ship blasted off from Florida on Wednesday (Sept 15) carrying a billionaire e-commerce executive and three less-wealthy private citizens he chose to join him in the first all-civilian crew ever launched on a flight to Earth orbit.\nThe quartet of amateur space travellers, led by the American founder and chief executive of e-commerce firm Shift4 Payments Inc Jared Isaacman, lifted off at 8.03pm EDT (0003 GMT Thursday) from the Kennedy Space Centre in Cape Canaveral.\nA SpaceX webcast of the launch showed Isaacman, 38, and his crewmates – Sian Proctor, 51, Hayley Arceneaux, 29, and Chris Sembroski, 42 – strapped into the pressurised cabin of their gleaming white SpaceX Crew Dragon capsule, dubbed Resilience, wearing their helmeted black-and-white flight suits.\nThe capsule roared into the Florida sky perched atop one of the company’s reusable two-stage Falcon 9 rockets and fitted with a special observation dome in place of its usual docking hatch.\nThe flight, the first crewed mission headed to orbit with no professional astronauts along for the ride, is expected to last about three days from launch to splashdown in the Atlantic, mission officials said.\nIt marked the debut flight of SpaceX owner Elon Musk’s new orbital tourism business, and a leap ahead of competitors likewise offering rides on rocket ships to customers willing to pay a small fortune for the exhilaration – and bragging rights - of spaceflight.\nIsaacman has paid an undisclosed sum to fellow billionaire Musk to send himself and his three crewmates aloft. Time magazine has put the ticket price for all four seats at US$200 million (S$268 million).\nThe mission, called Inspiration4, was conceived by Isaacman mainly to raise awareness and support for one of his favorite causes, St. Jude Children's Research Hospital, a leading pediatric cancer center in Memphis, Tennessee.\nInspiration4 is aiming for an orbital altitude of 360 miles (575 km) above Earth, higher than the International Space Station or Hubble Space Telescope. At that height, the Crew Dragon will circle the globe once every 90 minutes at a speed of some 27,360 kph, or roughly 22 times the speed of sound.\nRival companies Virgin Galactic and Blue Origin inaugurated their own private-astronaut services this summer, with their respective founding executives, billionaires Richard Branson and Jeff Bezos, each going along for the ride.\nThose suborbital flights, lasting a matter of minutes, were short hops compared with Inspiration4's spaceflight profile.\nSpaceX already ranks as the most well-established player in the burgeoning constellation of commercial rocket ventures, having launched numerous cargo payloads and astronauts to the International Space Station for NASA. Two of its Dragon capsules are docked there already.\nThe Inspiration4 crew will have no part to play in flying the spacecraft, which will be operated by ground-based flight teams and onboard guidance systems, even though two crew members are licensed pilots.\n\nA SpaceX Falcon 9 with the Crew Dragon capsule is seen before launch at the Kennedy Space Center in Cape Canaveral, Florida, on Sept 15, 2021. PHOTO: REUTERS\nIsaacman, who is rated to fly commercial and military jets, has assumed the role of mission \"commander,\" while Proctor, a geoscientist and former NASA astronaut candidate, has been designated as the mission \"pilot.\" Rounding out the crew are \"chief medical officer\" Arceneaux, a bone cancer survivor turned St. Jude physician assistant, and mission \"specialist\" Sembroski, a US Air Force veteran and aerospace data engineer.\nThe four crewmates have spent five months in rigorous preparations, including altitude fitness, centrifuge (G-force), microgravity and simulator training, emergency drills, classroom work and medical exams.\nInspiration4 officials have said the mission is more than a joyride.\nOnce in orbit, the crew will perform a series of medical experiments with \"potential applications for human health on Earth and during future spaceflights,\" the group said in media materials.\nBiomedical data and biological samples, including ultrasound scans, will also be collected from crew members before, during and after the flight.\n\"The crew of Inspiration4 is eager to use our mission to help make a better future for those who will launch in the years and decades to come,\" Isaacman said in a statement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886214477,"gmtCreate":1631594271499,"gmtModify":1631888310803,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886214477","repostId":"2167843475","repostType":4,"repost":{"id":"2167843475","kind":"highlight","pubTimestamp":1631590680,"share":"https://www.laohu8.com/m/news/2167843475?lang=&edition=full","pubTime":"2021-09-14 11:38","market":"us","language":"en","title":"Danger Lurks for These 3 High-Yield Dividend Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2167843475","media":"Motley Fool","summary":"Big yields might translate into big problems.","content":"<p>Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with their fundamentals relative to their payout levels.</p>\n<p><b>Altria</b> (NYSE:MO), <b>Dow Inc.</b> (NYSE:DOW), and <b><a href=\"https://laohu8.com/S/LUMN\">Lumen Technologies</a></b>&nbsp;(NYSE:LUMN) pack juicy yields between 4.6% and 8.4%. Some are household names, but that doesn't mean danger doesn't lurk in some of these high-yielding dividend stocks.</p>\n<h2>Altria</h2>\n<p>Unlike the two other names on this list, Altria has been a steady grower. Revenue is moving higher for the 10th year in a row. The steady trickle of tobacco as well as acquisitions along the way into other vices -- vaping, cannabis, and drinking -- have kept the top line moving higher.</p>\n<p>It's never been noteworthy growth. Since 2001 the strongest annual revenue growth for Altria is a pedestrian 6.3%. However, the future is not kind. Domestic cigarette shipments dipped last year despite folks working from home, and between changing norms and new regulations we may finally be getting to the end of Altria's growth streak.</p>\n<p>Altria did hike its distributions last month. It has now come through with 56 increases over the past 52 years, now yielding 7.1%. This is great news, but with tobacco products continuing to account for the lion's share of Altria's business do you really think this is what you want to bank on for the future?</p>\n<h2>Dow Inc.</h2>\n<p>Dow Inc. may seem like an odd name on this list. The chemicals giant has paid out 440 consecutive uninterrupted dividends dating back to 1912. It trades at a low earnings multiple, easily able to cover its current 4.6% yield.</p>\n<p>Dow is also coming off a monster quarter where it posted net sales growth of 66%. The problem here is that volume actually only increased 9%. Tight supply and demand fundamentals helped Dow push through a 53% increase in local prices. It's not going to last. Dow's numbers will look great in 2021, but it follows back-to-back years of double-digit percentage declines. Analysts see revenue sliding again in 2022.</p>\n<p>The stock has a healthy payout ratio, but how comfortable are you owning a stock where net sales will have declined in all but <a href=\"https://laohu8.com/S/AONE.U\">one</a> of a four-year run? Demand may seem steady for its polyurethanes and other packaging materials, but you need consistent growth to keep the distributions coming at today's heady pace.</p>\n<h2>Lumen Technologies</h2>\n<p>A name change can only take you so far. Lumen is the company formerly known as CenturyLink, a struggling provider of regional and commercial telco services. Back out the acquisition of Level 3 four years ago and this should be its ninth consecutive year of organic revenue declines.</p>\n<p>Lumen's 8.4% yield is tempting, and it's going to woo income investors. The problem is that this hasn't ended well before. It had to slash its dividend by more than half two years ago. It cut its payout six years before that, too.</p>\n<p>In Lumen's defense, it's doing a few things right these days. Earnings and cash flow are moving in the right direction. It's making divestiture moves and it's earmarking the proceeds for growth investments and buybacks that will help shore up the quarterly disbursements. However, with growth expected to keep contracting through at least the next four years it's hard to lean on its chunky yield as reliable.</p>\n<p>There's more to investing in dividend stocks than chunky yields. Altria, Dow, and Lumen have generous payouts, but there are things that need to go right to keep those healthy distributions coming.</p>","source":"fool_stock","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>Danger Lurks for These 3 High-Yield Dividend Stocks</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nDanger Lurks for These 3 High-Yield Dividend Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-14 11:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/13/danger-lurks-for-these-3-high-yield-dividend-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/13/danger-lurks-for-these-3-high-yield-dividend-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOW":"陶氏化学","LUMN":"Lumen Technologies","MO":"奥驰亚"},"source_url":"https://www.fool.com/investing/2021/09/13/danger-lurks-for-these-3-high-yield-dividend-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167843475","content_text":"Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with their fundamentals relative to their payout levels.\nAltria (NYSE:MO), Dow Inc. (NYSE:DOW), and Lumen Technologies (NYSE:LUMN) pack juicy yields between 4.6% and 8.4%. Some are household names, but that doesn't mean danger doesn't lurk in some of these high-yielding dividend stocks.\nAltria\nUnlike the two other names on this list, Altria has been a steady grower. Revenue is moving higher for the 10th year in a row. The steady trickle of tobacco as well as acquisitions along the way into other vices -- vaping, cannabis, and drinking -- have kept the top line moving higher.\nIt's never been noteworthy growth. Since 2001 the strongest annual revenue growth for Altria is a pedestrian 6.3%. However, the future is not kind. Domestic cigarette shipments dipped last year despite folks working from home, and between changing norms and new regulations we may finally be getting to the end of Altria's growth streak.\nAltria did hike its distributions last month. It has now come through with 56 increases over the past 52 years, now yielding 7.1%. This is great news, but with tobacco products continuing to account for the lion's share of Altria's business do you really think this is what you want to bank on for the future?\nDow Inc.\nDow Inc. may seem like an odd name on this list. The chemicals giant has paid out 440 consecutive uninterrupted dividends dating back to 1912. It trades at a low earnings multiple, easily able to cover its current 4.6% yield.\nDow is also coming off a monster quarter where it posted net sales growth of 66%. The problem here is that volume actually only increased 9%. Tight supply and demand fundamentals helped Dow push through a 53% increase in local prices. It's not going to last. Dow's numbers will look great in 2021, but it follows back-to-back years of double-digit percentage declines. Analysts see revenue sliding again in 2022.\nThe stock has a healthy payout ratio, but how comfortable are you owning a stock where net sales will have declined in all but one of a four-year run? Demand may seem steady for its polyurethanes and other packaging materials, but you need consistent growth to keep the distributions coming at today's heady pace.\nLumen Technologies\nA name change can only take you so far. Lumen is the company formerly known as CenturyLink, a struggling provider of regional and commercial telco services. Back out the acquisition of Level 3 four years ago and this should be its ninth consecutive year of organic revenue declines.\nLumen's 8.4% yield is tempting, and it's going to woo income investors. The problem is that this hasn't ended well before. It had to slash its dividend by more than half two years ago. It cut its payout six years before that, too.\nIn Lumen's defense, it's doing a few things right these days. Earnings and cash flow are moving in the right direction. It's making divestiture moves and it's earmarking the proceeds for growth investments and buybacks that will help shore up the quarterly disbursements. However, with growth expected to keep contracting through at least the next four years it's hard to lean on its chunky yield as reliable.\nThere's more to investing in dividend stocks than chunky yields. Altria, Dow, and Lumen have generous payouts, but there are things that need to go right to keep those healthy distributions coming.","news_type":1},"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889963203,"gmtCreate":1631104234702,"gmtModify":1631888310807,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889963203","repostId":"1152198957","repostType":4,"repost":{"id":"1152198957","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631101599,"share":"https://www.laohu8.com/m/news/1152198957?lang=&edition=full","pubTime":"2021-09-08 19:46","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1152198957","media":"Tiger Newspress","summary":"US futures were set for a third straight day of losses on Wednesday.\nCoinbase shares fall after comp","content":"<ul>\n <li>US futures were set for a third straight day of losses on Wednesday.</li>\n <li>Coinbase shares fall after company reveals SEC plans to sue.</li>\n <li>Amazon expands grab and go; Apple sets September event.</li>\n <li>Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.</li>\n</ul>\n<p>(Sept 8)&nbsp;World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&amp;P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&amp;P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup&nbsp;turned cautious&nbsp;on US equities.</p>\n<p>The S&amp;P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.</p>\n<p>At 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&amp;P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.</p>\n<p><img src=\"https://static.tigerbbs.com/cc04d49fecc926ac0b6c918d30547306\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p>Shares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a735311ccbdb64bf0c286f986875bd52\" tg-width=\"281\" tg-height=\"287\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/KDMN\">Kadmon</a></b> surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.</li>\n <li><b><a href=\"https://laohu8.com/S/CTXS\">Citrix</a> Systems</b>&nbsp;climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to&nbsp;boost its lagging stock price, according to people familiar with the matter.</li>\n <li><b><a href=\"https://laohu8.com/S/COTY\">Coty</a> </b>falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.</li>\n <li><b><a href=\"https://laohu8.com/S/IGC\">India Globalization Capital</a></b> jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.</li>\n</ul>\n<ul>\n <li>U.S.-traded shares of Chinese electric-car maker&nbsp;<b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.</li>\n <li><b><a href=\"https://laohu8.com/S/COUP\">Coupa Software Inc</a> </b>shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.</li>\n <li>Bitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a&nbsp;flash crash&nbsp;a day earlier erased billions of dollars in its value.&nbsp;<b><a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a></b> was sharing the pain, with its shares down 3.2% premarket.</li>\n <li>Earnings are due from executive recruiter&nbsp;Korn Ferry&nbsp;before the opening bell.</li>\n <li><b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> </b>nudged up 1% premarket. The payments processor&nbsp;agreed to buy Japanese&nbsp;“buy now, pay later” startup&nbsp;Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.</li>\n <li><b><a href=\"https://laohu8.com/S/SMAR\">Smartsheet</a> </b>dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.</li>\n <li><b><a href=\"https://laohu8.com/S/PATH\">UiPath</a>,</b>&nbsp;which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.</li>\n <li><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/7f98b61e1444bee35abb95dbe2470990\" tg-width=\"1127\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>GameStop,&nbsp;Lululemon Athletica&nbsp;and&nbsp;Avid Bioservices&nbsp;are due to report results after the close.</p>\n<p><b>In rates,</b> 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.</p>\n<p><b>In FX, </b>USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,<b>its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;</b>Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.</p>\n<p><b>Bitcoin</b> paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.</p>\n<p><b>In commodities, </b>crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.&nbsp; Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.</p>\n<p>Looking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nToplines Before US Market Open on Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-08 19:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>US futures were set for a third straight day of losses on Wednesday.</li>\n <li>Coinbase shares fall after company reveals SEC plans to sue.</li>\n <li>Amazon expands grab and go; Apple sets September event.</li>\n <li>Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.</li>\n</ul>\n<p>(Sept 8)&nbsp;World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&amp;P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&amp;P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup&nbsp;turned cautious&nbsp;on US equities.</p>\n<p>The S&amp;P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.</p>\n<p>At 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&amp;P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.</p>\n<p><img src=\"https://static.tigerbbs.com/cc04d49fecc926ac0b6c918d30547306\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p>Shares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a735311ccbdb64bf0c286f986875bd52\" tg-width=\"281\" tg-height=\"287\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/KDMN\">Kadmon</a></b> surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.</li>\n <li><b><a href=\"https://laohu8.com/S/CTXS\">Citrix</a> Systems</b>&nbsp;climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to&nbsp;boost its lagging stock price, according to people familiar with the matter.</li>\n <li><b><a href=\"https://laohu8.com/S/COTY\">Coty</a> </b>falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.</li>\n <li><b><a href=\"https://laohu8.com/S/IGC\">India Globalization Capital</a></b> jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.</li>\n</ul>\n<ul>\n <li>U.S.-traded shares of Chinese electric-car maker&nbsp;<b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.</li>\n <li><b><a href=\"https://laohu8.com/S/COUP\">Coupa Software Inc</a> </b>shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.</li>\n <li>Bitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a&nbsp;flash crash&nbsp;a day earlier erased billions of dollars in its value.&nbsp;<b><a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a></b> was sharing the pain, with its shares down 3.2% premarket.</li>\n <li>Earnings are due from executive recruiter&nbsp;Korn Ferry&nbsp;before the opening bell.</li>\n <li><b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> </b>nudged up 1% premarket. The payments processor&nbsp;agreed to buy Japanese&nbsp;“buy now, pay later” startup&nbsp;Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.</li>\n <li><b><a href=\"https://laohu8.com/S/SMAR\">Smartsheet</a> </b>dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.</li>\n <li><b><a href=\"https://laohu8.com/S/PATH\">UiPath</a>,</b>&nbsp;which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.</li>\n <li><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/7f98b61e1444bee35abb95dbe2470990\" tg-width=\"1127\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>GameStop,&nbsp;Lululemon Athletica&nbsp;and&nbsp;Avid Bioservices&nbsp;are due to report results after the close.</p>\n<p><b>In rates,</b> 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.</p>\n<p><b>In FX, </b>USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,<b>its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;</b>Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.</p>\n<p><b>Bitcoin</b> paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.</p>\n<p><b>In commodities, </b>crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.&nbsp; Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.</p>\n<p>Looking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152198957","content_text":"US futures were set for a third straight day of losses on Wednesday.\nCoinbase shares fall after company reveals SEC plans to sue.\nAmazon expands grab and go; Apple sets September event.\nBitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.\n\n(Sept 8) World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup turned cautious on US equities.\nThe S&P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.\nAt 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.\n\nShares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.\n\nStocks making the biggest moves premarket:\n\nKadmon surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.\nCitrix Systems climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to boost its lagging stock price, according to people familiar with the matter.\nCoty falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.\nIndia Globalization Capital jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.\n\n\nU.S.-traded shares of Chinese electric-car maker NIO Inc. dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.\nCoupa Software Inc shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.\nBitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a flash crash a day earlier erased billions of dollars in its value. Coinbase Global, Inc. was sharing the pain, with its shares down 3.2% premarket.\nEarnings are due from executive recruiter Korn Ferry before the opening bell.\nPayPal nudged up 1% premarket. The payments processor agreed to buy Japanese “buy now, pay later” startup Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.\nSmartsheet dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.\nUiPath, which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.\nTesla Motors edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.\n\n\nGameStop, Lululemon Athletica and Avid Bioservices are due to report results after the close.\nIn rates, 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.\nIn FX, USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.\nBitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.\nIn commodities, crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.  Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.\nLooking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814653190,"gmtCreate":1630815232610,"gmtModify":1631888310810,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814653190","repostId":"1198049168","repostType":4,"repost":{"id":"1198049168","kind":"news","pubTimestamp":1630657800,"share":"https://www.laohu8.com/m/news/1198049168?lang=&edition=full","pubTime":"2021-09-03 16:30","market":"us","language":"en","title":"The Three Big Transitions Reshaping Finance","url":"https://stock-news.laohu8.com/highlight/detail?id=1198049168","media":"Barron's","summary":"About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and ","content":"<p><i>About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the U.S. Securities and Exchange Commission.</i></p>\n<p>Ever since Covid disrupted our lives, two themes have emerged.&nbsp;First, a feeling that we are living in an antechamber to a new and still-undefined era. And second, a pattern of hybrids, from homes converted into hybrid spaces of living/working/schooling, to expectations of a new office hybrid that will mix virtual and in-person meetings.</p>\n<p>But what about the world of finance and securities markets?&nbsp;There, too, we can find patterns of transition and hybrids.&nbsp;Consider three phenomena that began before Covid but have exploded in growth since then:&nbsp;digital assets, Robinhood, and SPACs.</p>\n<p>Start with the rise of cryptocurrencies, digital tokens and other such assets, which remain very much in a transitory stage (like the “Wild West,” SEC Chairman Gary Genslerrecently observed).&nbsp;Even as the crypto asset class has grown to an estimated $1.6 trillion, basic questions remain unanswered.&nbsp;Are digital tokens securities or commodities?&nbsp;Are decentralized finance platforms really securities exchanges?&nbsp;Are data miners and other digital service providers really broker-dealers?&nbsp;Should the SEC permit Bitcoin ETFs?&nbsp;And who should regulate these products, services and entities—the SEC, the CFTC, or banking regulators?</p>\n<p>Genslerhas calledon Congress to give the SEC “additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.” Specifically, he wants “additional plenary authority to write rules for and attach guardrails to crypto trading and lending.”&nbsp;And the U.S. House has passed a bill (H.R. 1602, the Eliminate Barriers to Innovation Act of 2021), which would require the SEC and CFTC to establish a working group on digital assets.</p>\n<p>Some of what passes as crypto innovations pretty clearly seems to be old-fashioned investment products dressed up in digital garb.&nbsp;That would include any stablecoins that function like money market funds and those tokens that fall within the definition of a security. Nonetheless, there is no denying that crypto mixes digital technology with traditional forms of finance in a hybrid of innovation.</p>\n<p>Second, consider Robinhood, which has exploded into view along with Redditor-fueled moonshot trades in meme stocks.&nbsp;Its proclaimedmission“to democratize finance for all” may invite skepticism, but the company can make a strong claim to having attracted a surge of first-time retail investors, representing a younger and more ethnically diverse customer base.&nbsp;Powering that success is Robinhood’s sleek mobile app—and its arsenal of gamification tools to entice and engage customers.&nbsp;But do the nudges and gamification tools cross the line into the realm of investment advice?</p>\n<p>“Once individuals become customers, Robinhood relentlessly bombards them with a number of strategies designed to encourage and incentivize continuous and repeated engagement with this application,” the Massachusetts state securities regulator alleges in alawsuitagainst Robinhood.&nbsp;The complaint points to several such techniques, from celebrating customer trades with confetti (a practice Robinhood has since abandoned) to plying customers with lists of most-traded and most-popular securities on its platform.</p>\n<p>Should practices like these be subject to the fiduciary standard of an investment adviser?&nbsp;Or to the new Best Interest standard for broker-dealers?&nbsp;Robinhood hascalledthe regulator elitist and says it isn’t making recommendations. Whatever the outcome of the lawsuit, these gamification techniques make Robinhood appear different in kind from the (boring?) practices of traditional broker-dealers that merely execute customers’ trades.&nbsp;The gamification of mobile trading apps may represent a hybrid between standard broker-dealer practices and full-fledged investment advice.</p>\n<p>Third, consider SPACs, which have been around since 2003 but have exploded in popularity in the Covid era.&nbsp;In a hugely successful marketing campaign, SPACs have presented themselves as a kind of poor man’s private equity.&nbsp;If true, that would make SPACs a hybrid between private investment opportunities and public markets.</p>\n<p>The deSPAC merger—the key event in the life of a SPAC—is also a hybrid.&nbsp;This is when the SPAC merges with a private operating company, allowing the target to become a public company without going through an IPO.&nbsp;Or is the merger itself really an IPO?</p>\n<p>That’s precisely the question raised by John Coates, a Harvard Law professor who has become a top SEC official.&nbsp;In a provocativespeechon April 8, Coates argued that the deSPAC merger is an initial public offering, because it is the first time the private operating company is introduced to the public.&nbsp;One speech, however, does not make SEC policy. And Coates’ theory remains untested in court. Nonetheless, it suggests how the deSPAC merger can be considered a hybrid between traditional forms of IPO and merger transactions.</p>\n<p>At a House Financial Services subcommitteehearingon May 24, Michael San Nicolas, Guam’s delegate, asked how a SPAC differed from a closed-end equity (mutual) fund.&nbsp;The question may have seemed arcane at the time, but in retrospect it appears to have foreshadowed a series of blockbuster lawsuits against SPACs.&nbsp;Former SEC Commissioner Robert J. Jackson, Jr. and Yale Law Professor John Morley have joined in alawsuitagainst Bill Ackman’s SPAC,Pershing Square Tontine Holdings Ltd.&nbsp;(ticker: PSTH), which raised $4 billion to become the single largest SPAC, and followed up with suits against two other SPACs,GO Acquisition Corp.and E.Merge Technology.&nbsp;The suits allege that the SPACs are really investment companies, like mutual funds and ETFs, because they invest in securities while searching for a merger partner.</p>\n<p>“Under the [Investment Company Act of 1940], an Investment Company is an entity whose primary business is investing in securities,” the lawsuit against PSTH argues.&nbsp;“And investing in securities is basically the only thing that PSTH has ever done.”</p>\n<p>Ackmansaysthe suit against his SPAC is meritless, but warns, “Because the basic issues raised here apply to every SPAC, a successful claim would imply that every SPAC may also be an illegal investment company.”&nbsp;The suit suggests one more way that SPACs could be considered a hybrid—a cross between an investment company (like a mutual fund) and a publicly traded company.</p>\n<p>One wonders how we will look back on these market developments a decade from now.&nbsp;Will SPACs, cryptoassets, and mobile trading apps be seen as hybrids that emerged in the antechamber we are living in now?</p>\n<p></p>\n<p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Three Big Transitions Reshaping Finance</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Three Big Transitions Reshaping Finance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 16:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the...</p>\n\n<a href=\"https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198049168","content_text":"About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the U.S. Securities and Exchange Commission.\nEver since Covid disrupted our lives, two themes have emerged. First, a feeling that we are living in an antechamber to a new and still-undefined era. And second, a pattern of hybrids, from homes converted into hybrid spaces of living/working/schooling, to expectations of a new office hybrid that will mix virtual and in-person meetings.\nBut what about the world of finance and securities markets? There, too, we can find patterns of transition and hybrids. Consider three phenomena that began before Covid but have exploded in growth since then: digital assets, Robinhood, and SPACs.\nStart with the rise of cryptocurrencies, digital tokens and other such assets, which remain very much in a transitory stage (like the “Wild West,” SEC Chairman Gary Genslerrecently observed). Even as the crypto asset class has grown to an estimated $1.6 trillion, basic questions remain unanswered. Are digital tokens securities or commodities? Are decentralized finance platforms really securities exchanges? Are data miners and other digital service providers really broker-dealers? Should the SEC permit Bitcoin ETFs? And who should regulate these products, services and entities—the SEC, the CFTC, or banking regulators?\nGenslerhas calledon Congress to give the SEC “additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.” Specifically, he wants “additional plenary authority to write rules for and attach guardrails to crypto trading and lending.” And the U.S. House has passed a bill (H.R. 1602, the Eliminate Barriers to Innovation Act of 2021), which would require the SEC and CFTC to establish a working group on digital assets.\nSome of what passes as crypto innovations pretty clearly seems to be old-fashioned investment products dressed up in digital garb. That would include any stablecoins that function like money market funds and those tokens that fall within the definition of a security. Nonetheless, there is no denying that crypto mixes digital technology with traditional forms of finance in a hybrid of innovation.\nSecond, consider Robinhood, which has exploded into view along with Redditor-fueled moonshot trades in meme stocks. Its proclaimedmission“to democratize finance for all” may invite skepticism, but the company can make a strong claim to having attracted a surge of first-time retail investors, representing a younger and more ethnically diverse customer base. Powering that success is Robinhood’s sleek mobile app—and its arsenal of gamification tools to entice and engage customers. But do the nudges and gamification tools cross the line into the realm of investment advice?\n“Once individuals become customers, Robinhood relentlessly bombards them with a number of strategies designed to encourage and incentivize continuous and repeated engagement with this application,” the Massachusetts state securities regulator alleges in alawsuitagainst Robinhood. The complaint points to several such techniques, from celebrating customer trades with confetti (a practice Robinhood has since abandoned) to plying customers with lists of most-traded and most-popular securities on its platform.\nShould practices like these be subject to the fiduciary standard of an investment adviser? Or to the new Best Interest standard for broker-dealers? Robinhood hascalledthe regulator elitist and says it isn’t making recommendations. Whatever the outcome of the lawsuit, these gamification techniques make Robinhood appear different in kind from the (boring?) practices of traditional broker-dealers that merely execute customers’ trades. The gamification of mobile trading apps may represent a hybrid between standard broker-dealer practices and full-fledged investment advice.\nThird, consider SPACs, which have been around since 2003 but have exploded in popularity in the Covid era. In a hugely successful marketing campaign, SPACs have presented themselves as a kind of poor man’s private equity. If true, that would make SPACs a hybrid between private investment opportunities and public markets.\nThe deSPAC merger—the key event in the life of a SPAC—is also a hybrid. This is when the SPAC merges with a private operating company, allowing the target to become a public company without going through an IPO. Or is the merger itself really an IPO?\nThat’s precisely the question raised by John Coates, a Harvard Law professor who has become a top SEC official. In a provocativespeechon April 8, Coates argued that the deSPAC merger is an initial public offering, because it is the first time the private operating company is introduced to the public. One speech, however, does not make SEC policy. And Coates’ theory remains untested in court. Nonetheless, it suggests how the deSPAC merger can be considered a hybrid between traditional forms of IPO and merger transactions.\nAt a House Financial Services subcommitteehearingon May 24, Michael San Nicolas, Guam’s delegate, asked how a SPAC differed from a closed-end equity (mutual) fund. The question may have seemed arcane at the time, but in retrospect it appears to have foreshadowed a series of blockbuster lawsuits against SPACs. Former SEC Commissioner Robert J. Jackson, Jr. and Yale Law Professor John Morley have joined in alawsuitagainst Bill Ackman’s SPAC,Pershing Square Tontine Holdings Ltd. (ticker: PSTH), which raised $4 billion to become the single largest SPAC, and followed up with suits against two other SPACs,GO Acquisition Corp.and E.Merge Technology. The suits allege that the SPACs are really investment companies, like mutual funds and ETFs, because they invest in securities while searching for a merger partner.\n“Under the [Investment Company Act of 1940], an Investment Company is an entity whose primary business is investing in securities,” the lawsuit against PSTH argues. “And investing in securities is basically the only thing that PSTH has ever done.”\nAckmansaysthe suit against his SPAC is meritless, but warns, “Because the basic issues raised here apply to every SPAC, a successful claim would imply that every SPAC may also be an illegal investment company.” The suit suggests one more way that SPACs could be considered a hybrid—a cross between an investment company (like a mutual fund) and a publicly traded company.\nOne wonders how we will look back on these market developments a decade from now. Will SPACs, cryptoassets, and mobile trading apps be seen as hybrids that emerged in the antechamber we are living in now?","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815178489,"gmtCreate":1630661167041,"gmtModify":1631888310816,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815178489","repostId":"1106529157","repostType":4,"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816842873,"gmtCreate":1630490265892,"gmtModify":1631888310818,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816842873","repostId":"2164866771","repostType":4,"repost":{"id":"2164866771","kind":"news","pubTimestamp":1630455900,"share":"https://www.laohu8.com/m/news/2164866771?lang=&edition=full","pubTime":"2021-09-01 08:25","market":"us","language":"en","title":"Goldman Sachs sees as much as 33% upside in these stocks — peek before they pop","url":"https://stock-news.laohu8.com/highlight/detail?id=2164866771","media":"MoneyWise","summary":"Goldman believes this trio of stocks can take off.\n\nWall Street doesn’t always get it right.\nIn fact","content":"<p><b>Goldman believes this trio of stocks can take off.</b></p>\n<p><img src=\"https://static.tigerbbs.com/f5542d0a10aab39580d67416addb84d3\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p>\n<p>Wall Street doesn’t always get it right.</p>\n<p>In fact, it’s always good practice to take analyst opinions with a golf ball-sized grain of salt. That said, Wall Street firms with solid track records can be a useful source of buy ideas.</p>\n<p>Let’s look at three stocks that investment giant Goldman Sachs has recently taken a bullish stance on.</p>\n<p>One of them could very well be your next big money-maker.</p>\n<p><b>1. Weber</b></p>\n<p><img src=\"https://static.tigerbbs.com/f8ea3ad9c7ad11a4c82b90e11915d319\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Brett Levin / Flickr</p>\n<p>Leading off our list is grill maker Weber, which Goldman started coverage on with a Buy rating Monday. Along with the bullish stance, Goldman analyst Kate McShane planted a $22 price target on the shares, representing upside of about 33% from where they sit now.</p>\n<p>With the trend of investing in the home only picking up pace, McShane thinks Weber is a “solid growth story.” The analyst also sees the company benefitting from consumer brand awareness and global growth tailwinds.</p>\n<p>In 2020, the company posted revenue of $1.5 billion with a solid return on invested capital of 14%.</p>\n<p>Weber shares quickly spiked after their IPO earlier this month, but have fallen 17% since the initial run-up, providing a possible opportunity for contrarian traders.</p>\n<p><b>2. <a href=\"https://laohu8.com/S/WDAY\">Workday</a></b></p>\n<p><img src=\"https://static.tigerbbs.com/748691e6368293a02ca46db7c07e50b6\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Coolcaesar / Wikimedia Commons</p>\n<p>Next up, we have cloud computing technologist Workday, which Goldman raised its price target on from $300 to $330 per share. In other words, Goldman analyst Kash Rangan sees upside of about 20% from where Workday currently trades.</p>\n<p>Rangan also reiterated his Buy rating on the stock.</p>\n<p>In a research note to investors, Rangan wrote that Workday is well-positioned to take market share over the long haul even as the exact timing of its large financial migrations remains unclear.</p>\n<p>In its Q2 results last week, Workday blew out expectations with revenue growth of 19%. The company also posted non-GAAP earnings of $1.23 a share, well above the average analyst estimate of 78 cents a share.</p>\n<p>Workday shares are up just 13% so far in 2021 versus 21% for the S&amp;P 500.</p>\n<p><b>3. <a href=\"https://laohu8.com/S/SNOW\">Snowflake</a></b></p>\n<p><img src=\"https://static.tigerbbs.com/644eebc7b4206b78957037f755a44c03\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Sundry Photography / Shutterstock</p>\n<p>Rounding out our list is cloud-based data platform Snowflake, which Goldman’s Rangan lifted his price target on from $300 to $340. Rangan’s projection represents 14% worth of upside for today’s buyers of Snowflake shares.</p>\n<p>Rangan thinks Snowflake’s native cloud platform is ideally positioned to replace data warehousing services over the long haul due to its scalability and elasticity. Rangan also highlighted the company’s “best in class” net revenue retention rate of 169% in the most recent quarter.</p>\n<p>While Snowflake posted a wider-than-expected loss in Q2, revenue more than doubled from the year-ago period to $272 million.</p>\n<p>Snowflake shares are up 6% year to date, underperforming the S&amp;P 500 by a wide margin, suggesting that the stock could have plenty of room to run for the rest of 2021.</p>\n<p>Go your own way?</p>\n<p><img src=\"https://static.tigerbbs.com/ffc1d02d5bf11b54fceefed05d81522d\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Fotokostic / Shutterstock</p>\n<p>There you have it: three newly upgraded stocks worth checking out.</p>\n<p>Even if you don't agree with Goldman on these specific stock picks, your goal as investor should always remain the same: seeking out attractive assets at discounted prices.</p>\n<p>You don't have to limit yourself to the stock market, either.</p>\n<p>One attractive asset that billionaire Bill Gates is partial to is investing in U.S. farmland.</p>\n<p>In fact, Gates is America's biggest owner of farmland and for good reason: Over the years, agriculture has been shown to offer higher risk-adjusted returns than both stocks and real estate.</p>","source":"lsy1621813427262","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>Goldman Sachs sees as much as 33% upside in these stocks — peek before they pop</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nGoldman Sachs sees as much as 33% upside in these stocks — peek before they pop\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-01 08:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://moneywise.com/investing/stocks/goldman-sachs-sees-as-much-as-33-upside-in-these-stocks-peek-before-they-pop><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Goldman believes this trio of stocks can take off.\n\nWall Street doesn’t always get it right.\nIn fact, it’s always good practice to take analyst opinions with a golf ball-sized grain of salt. That said...</p>\n\n<a href=\"https://moneywise.com/investing/stocks/goldman-sachs-sees-as-much-as-33-upside-in-these-stocks-peek-before-they-pop\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WDAY":"Workday","WEBR":"Weber Inc.","SNOW":"Snowflake","GS":"高盛"},"source_url":"https://moneywise.com/investing/stocks/goldman-sachs-sees-as-much-as-33-upside-in-these-stocks-peek-before-they-pop","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164866771","content_text":"Goldman believes this trio of stocks can take off.\n\nWall Street doesn’t always get it right.\nIn fact, it’s always good practice to take analyst opinions with a golf ball-sized grain of salt. That said, Wall Street firms with solid track records can be a useful source of buy ideas.\nLet’s look at three stocks that investment giant Goldman Sachs has recently taken a bullish stance on.\nOne of them could very well be your next big money-maker.\n1. Weber\nBrett Levin / Flickr\nLeading off our list is grill maker Weber, which Goldman started coverage on with a Buy rating Monday. Along with the bullish stance, Goldman analyst Kate McShane planted a $22 price target on the shares, representing upside of about 33% from where they sit now.\nWith the trend of investing in the home only picking up pace, McShane thinks Weber is a “solid growth story.” The analyst also sees the company benefitting from consumer brand awareness and global growth tailwinds.\nIn 2020, the company posted revenue of $1.5 billion with a solid return on invested capital of 14%.\nWeber shares quickly spiked after their IPO earlier this month, but have fallen 17% since the initial run-up, providing a possible opportunity for contrarian traders.\n2. Workday\nCoolcaesar / Wikimedia Commons\nNext up, we have cloud computing technologist Workday, which Goldman raised its price target on from $300 to $330 per share. In other words, Goldman analyst Kash Rangan sees upside of about 20% from where Workday currently trades.\nRangan also reiterated his Buy rating on the stock.\nIn a research note to investors, Rangan wrote that Workday is well-positioned to take market share over the long haul even as the exact timing of its large financial migrations remains unclear.\nIn its Q2 results last week, Workday blew out expectations with revenue growth of 19%. The company also posted non-GAAP earnings of $1.23 a share, well above the average analyst estimate of 78 cents a share.\nWorkday shares are up just 13% so far in 2021 versus 21% for the S&P 500.\n3. Snowflake\nSundry Photography / Shutterstock\nRounding out our list is cloud-based data platform Snowflake, which Goldman’s Rangan lifted his price target on from $300 to $340. Rangan’s projection represents 14% worth of upside for today’s buyers of Snowflake shares.\nRangan thinks Snowflake’s native cloud platform is ideally positioned to replace data warehousing services over the long haul due to its scalability and elasticity. Rangan also highlighted the company’s “best in class” net revenue retention rate of 169% in the most recent quarter.\nWhile Snowflake posted a wider-than-expected loss in Q2, revenue more than doubled from the year-ago period to $272 million.\nSnowflake shares are up 6% year to date, underperforming the S&P 500 by a wide margin, suggesting that the stock could have plenty of room to run for the rest of 2021.\nGo your own way?\nFotokostic / Shutterstock\nThere you have it: three newly upgraded stocks worth checking out.\nEven if you don't agree with Goldman on these specific stock picks, your goal as investor should always remain the same: seeking out attractive assets at discounted prices.\nYou don't have to limit yourself to the stock market, either.\nOne attractive asset that billionaire Bill Gates is partial to is investing in U.S. farmland.\nIn fact, Gates is America's biggest owner of farmland and for good reason: Over the years, agriculture has been shown to offer higher risk-adjusted returns than both stocks and real estate.","news_type":1},"isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811160217,"gmtCreate":1630298151739,"gmtModify":1704958030512,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/811160217","repostId":"1198438768","repostType":4,"isVote":1,"tweetType":1,"viewCount":599,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813234792,"gmtCreate":1630204086716,"gmtModify":1704956979960,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks !","listText":"Like thanks !","text":"Like thanks !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813234792","repostId":"1129129956","repostType":4,"repost":{"id":"1129129956","kind":"news","pubTimestamp":1630201285,"share":"https://www.laohu8.com/m/news/1129129956?lang=&edition=full","pubTime":"2021-08-29 09:41","market":"us","language":"en","title":"This Unloved Tech Stock Could Make You Rich One Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1129129956","media":"Motley Fool","summary":"The iBuying business is a race to grow larger, and Opendoor is winning.The company is growing at a rate that is two years ahead of what management projected just a year earlier.The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.Real estate iBuying company Opendoor Technologieshas been executing at a high level in the three quarters since coming public via a special purpose acquisition company  merger. In a race to disrupt residential ","content":"<p>Key Points</p>\n<ul>\n <li>The iBuying business is a race to grow larger, and Opendoor is winning.</li>\n <li>The company is growing at a rate that is two years ahead of what management projected just a year earlier.</li>\n <li>The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.</li>\n</ul>\n<p></p>\n<p>Real estate iBuying company&nbsp;<b>Opendoor Technologies</b>(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.</p>\n<p>Despite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.</p>\n<h3>1. Opendoor is winning the iBuying battle</h3>\n<p>The traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.</p>\n<p>Opendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.</p>\n<p>After seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including&nbsp;<b>Zillow Group</b>&nbsp;and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.</p>\n<p>According to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.</p>\n<h3>2. Revenue growth is ahead of schedule</h3>\n<p>When companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.</p>\n<p>Fast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"</p>\n<p>In other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.</p>\n<h3>3. SPACs are out of favor with the market... opportunity?</h3>\n<p>Investors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.</p>\n<p>Investors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.</p>\n<p>But if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.</p>\n<p>Competitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.</p>\n<h3>Here's the bottom line</h3>\n<p>Real estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"<b>Amazon</b>\" of home buying, but what seems certain is that the company is&nbsp;poised to be a big player&nbsp;in real estate's future if it keeps performing like this.</p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Unloved Tech Stock Could Make You Rich One Day</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nThis Unloved Tech Stock Could Make You Rich One Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-29 09:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OPEN":"Opendoor Technologies Inc"},"source_url":"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129129956","content_text":"Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.\n\n\nReal estate iBuying company Opendoor Technologies(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.\nDespite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.\n1. Opendoor is winning the iBuying battle\nThe traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.\nOpendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.\nAfter seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including Zillow Group and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.\nAccording to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.\n2. Revenue growth is ahead of schedule\nWhen companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.\nFast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"\nIn other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.\n3. SPACs are out of favor with the market... opportunity?\nInvestors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.\nInvestors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.\nBut if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.\nCompetitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.\nHere's the bottom line\nReal estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"Amazon\" of home buying, but what seems certain is that the company is poised to be a big player in real estate's future if it keeps performing like this.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819170062,"gmtCreate":1630049506256,"gmtModify":1704955166598,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819170062","repostId":"2162090400","repostType":4,"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834355489,"gmtCreate":1629774153941,"gmtModify":1631888310837,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/834355489","repostId":"2161577712","repostType":4,"isVote":1,"tweetType":1,"viewCount":165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835118074,"gmtCreate":1629692849998,"gmtModify":1631891598792,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/835118074","repostId":"2161742695","repostType":4,"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832861698,"gmtCreate":1629607280714,"gmtModify":1631891598806,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/832861698","repostId":"2161745814","repostType":4,"repost":{"id":"2161745814","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1629493200,"share":"https://www.laohu8.com/m/news/2161745814?lang=&edition=full","pubTime":"2021-08-21 05:00","market":"hk","language":"en","title":"S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians","url":"https://stock-news.laohu8.com/highlight/detail?id=2161745814","media":"Dow Jones","summary":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket o","content":"<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nS&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-08-21 05:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","SH":"标普500反向ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEX":"标普100","SSO":"两倍做多标普500ETF","OEF":"标普100指数ETF-iShares","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SDS":"两倍做空标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836999387,"gmtCreate":1629444108849,"gmtModify":1631891598820,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836999387","repostId":"2160848793","repostType":4,"repost":{"id":"2160848793","kind":"highlight","pubTimestamp":1629420499,"share":"https://www.laohu8.com/m/news/2160848793?lang=&edition=full","pubTime":"2021-08-20 08:48","market":"us","language":"en","title":"Ark's Cathie Wood says stock market 'couldn't be further away from a bubble.' Here's why.","url":"https://stock-news.laohu8.com/highlight/detail?id=2160848793","media":"MarketWatch","summary":"Wood says she's emboldened by bad news\nCathie Wood, chief executive officer and chief investment off","content":"<p>Wood says she's emboldened by bad news</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b1e646cb0a6ddf4ac942ed5c913a4e4\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management</span></p>\n<p>There'a growing sense of unease emanating from equity markets in recent trade, despite, and perhaps because, of the Dow Jones Industrial Average and the S&amp;P 500 index trading near record heights.</p>\n<p>However, star investor Cathie Wood, who runs a suite of popular ETFs in Ark Investment Management, says that there's no reason to fear that the market is becoming too bubblicious.</p>\n<p>As the Ark founder puts it: \"I don't think we're in a bubble which is what I think many bears think we are,\" during a Thursday interview with CNBC near midday .</p>\n<p>Her comments coming amid intensifying worries about a possible slowdown in economic growth as the delta variant of COVID-19 gathers momentum, creating headwinds for a fuller recovery from the pandemic that has gripped the globe for well over a year.</p>\n<p>Investors also have been wringing their hands over the prospects of the Federal Reserve scaling back easy-money policies, notably the monthly purchases of $120 billion in Treasurys and mortage-backed securities, as anxieties grow.</p>\n<p>Wood's investment funds, highlighted by the flagship Ark Innovation, have been <a href=\"https://laohu8.com/S/AONE.U\">one</a> area that has been cited as possibly overvalued and vulnerable to a dramatic swing lower if the market starts to deflate considerably from its current levels.</p>\n<p>Ark Innovation ETF is down 5.2% so far this week and has lost 8.6% in the year to date, badly underperforming the broader market and coming after the fund rang up one-year return of 149%, FactSet data show.</p>\n<p><img src=\"https://static.tigerbbs.com/5cca916bae90134d64f9ba249031e782\" tg-width=\"949\" tg-height=\"666\" width=\"100%\" height=\"auto\"></p>\n<p>By comparison , the Dow Jones Industrial Average is down 1.8% this week but up 14% this year, while the technology-laden Nasdaq Composite Index is off 1.9% on the week but has risen over 12.8% so far in 2021, and the broad-market S&amp;P 500 index is off 1.4% in the week to date but boasts a nearly 17.3% gain for 2021.</p>\n<p>Wood's view on the market, however, is that investors are acting much more sedately and prudently, compared with the euphoria that was characteristic of the late 1990s and early 2000s dot-com boom.</p>\n<p>\"In a bubble...and I remember the late '90s...our strategies would have been cheered on,\" she told the business network. \"You remember the leapfrogging of analysts making estimates one higher than the other, price targets one higher than the other,\" she said on \"Tech Check.\"</p>\n<p>She also noted that negative sentiment in the market as a contra-indication, suggesting that growing pessimism may actually fuel further gains rather than inflating a bubble.</p>\n<p>\"I like bad news,\" she said.</p>\n<p>\"When I see such negative sentiment out there, especially when it comes to valuation and longer time horizons, investment time horizons, I actually feel a little more comfortable,\" Wood said.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ark's Cathie Wood says stock market 'couldn't be further away from a bubble.' Here's why.</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nArk's Cathie Wood says stock market 'couldn't be further away from a bubble.' Here's why.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-20 08:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/arks-cathie-wood-says-stock-market-couldnt-be-further-away-from-a-bubble-heres-why-11629393761?adobe_mc=MCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1629420103><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wood says she's emboldened by bad news\nCathie Wood, chief executive officer and chief investment officer of ARK Investment Management\nThere'a growing sense of unease emanating from equity markets in ...</p>\n\n<a href=\"https://www.marketwatch.com/story/arks-cathie-wood-says-stock-market-couldnt-be-further-away-from-a-bubble-heres-why-11629393761?adobe_mc=MCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1629420103\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/arks-cathie-wood-says-stock-market-couldnt-be-further-away-from-a-bubble-heres-why-11629393761?adobe_mc=MCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1629420103","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160848793","content_text":"Wood says she's emboldened by bad news\nCathie Wood, chief executive officer and chief investment officer of ARK Investment Management\nThere'a growing sense of unease emanating from equity markets in recent trade, despite, and perhaps because, of the Dow Jones Industrial Average and the S&P 500 index trading near record heights.\nHowever, star investor Cathie Wood, who runs a suite of popular ETFs in Ark Investment Management, says that there's no reason to fear that the market is becoming too bubblicious.\nAs the Ark founder puts it: \"I don't think we're in a bubble which is what I think many bears think we are,\" during a Thursday interview with CNBC near midday .\nHer comments coming amid intensifying worries about a possible slowdown in economic growth as the delta variant of COVID-19 gathers momentum, creating headwinds for a fuller recovery from the pandemic that has gripped the globe for well over a year.\nInvestors also have been wringing their hands over the prospects of the Federal Reserve scaling back easy-money policies, notably the monthly purchases of $120 billion in Treasurys and mortage-backed securities, as anxieties grow.\nWood's investment funds, highlighted by the flagship Ark Innovation, have been one area that has been cited as possibly overvalued and vulnerable to a dramatic swing lower if the market starts to deflate considerably from its current levels.\nArk Innovation ETF is down 5.2% so far this week and has lost 8.6% in the year to date, badly underperforming the broader market and coming after the fund rang up one-year return of 149%, FactSet data show.\n\nBy comparison , the Dow Jones Industrial Average is down 1.8% this week but up 14% this year, while the technology-laden Nasdaq Composite Index is off 1.9% on the week but has risen over 12.8% so far in 2021, and the broad-market S&P 500 index is off 1.4% in the week to date but boasts a nearly 17.3% gain for 2021.\nWood's view on the market, however, is that investors are acting much more sedately and prudently, compared with the euphoria that was characteristic of the late 1990s and early 2000s dot-com boom.\n\"In a bubble...and I remember the late '90s...our strategies would have been cheered on,\" she told the business network. \"You remember the leapfrogging of analysts making estimates one higher than the other, price targets one higher than the other,\" she said on \"Tech Check.\"\nShe also noted that negative sentiment in the market as a contra-indication, suggesting that growing pessimism may actually fuel further gains rather than inflating a bubble.\n\"I like bad news,\" she said.\n\"When I see such negative sentiment out there, especially when it comes to valuation and longer time horizons, investment time horizons, I actually feel a little more comfortable,\" Wood said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833468566,"gmtCreate":1629256138855,"gmtModify":1631891598839,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833468566","repostId":"2160880977","repostType":4,"repost":{"id":"2160880977","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1629240675,"share":"https://www.laohu8.com/m/news/2160880977?lang=&edition=full","pubTime":"2021-08-18 06:51","market":"us","language":"en","title":"Wall Street slumps after weak retail sales, Home Depot results","url":"https://stock-news.laohu8.com/highlight/detail?id=2160880977","media":"Reuters","summary":"* Home Depot falls as U.S. same-store sales miss estimates\n* Auto shortages, spend shift to services","content":"<p>* Home Depot falls as U.S. same-store sales miss estimates</p>\n<p>* Auto shortages, spend shift to services tank U.S. retail sales</p>\n<p>* Walmart flat after it raises sales forecast</p>\n<p>* Indexes down: Dow 0.79%, S&amp;P 0.71%, Nasdaq 0.93%</p>\n<p>Aug 17 (Reuters) - Wall Street's main indexes slid on Tuesday, with the S&amp;P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in U.S. retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot.</p>\n<p>Most of the S&amp;P 500's sectors finished lower, with consumer discretionary the weakest performer, falling 2.3%.</p>\n<p>Home Depot shares fell 4.3% after the company's U.S. same-store sales fell short of estimates for the first time in nearly two years as pandemic-fueled do-it-yourself projects tapered off. Shares of rival Lowe's Companies dropped 5.8%.</p>\n<p>A report showed that U.S. retail sales fell more than expected in July, as supply shortages depressed motor vehicle purchases and the boost to spending from the economy's reopening and stimulus checks faded, suggesting a slowdown in growth early in the third quarter.</p>\n<p>“The retail sales drop I think clarified for investors that COVID may well be a big problem going into the fall,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.</p>\n<p>Prior to Tuesday's drops, the S&amp;P 500 and the Dow Jones Industrial Average had closed at record highs for five straight sessions.</p>\n<p>“The (market) backdrop remains really solid,\" said Katie Nixon, chief investment officer at Northern Trust Wealth Management. \"At this point, when you have some of these negative macro indicators coming in and you have markets that are selling at all-time highs with pretty expensive valuations by any measure, there is just going to be more vulnerability to that kind of bad news.”</p>\n<p>The Dow Jones Industrial Average fell 282.12 points, or 0.79%, to 35,343.28, the S&amp;P 500 lost 31.63 points, or 0.71%, to 4,448.08 and the Nasdaq Composite dropped 137.58 points, or 0.93%, to 14,656.18.</p>\n<p>The S&amp;P 500 healthcare sector was a bright spot, ending up 1.1% on the day.</p>\n<p>With the market in a period that has seasonally been weak historically, investors have said stocks may be due for a significant drop, with the S&amp;P 500 yet to experience a 5% pullback this year. On Monday, the S&amp;P 500 closed 100% above its March 2020 low.</p>\n<p>Still, market watchers have said that huge amounts of cash held by investors and companies could protect stocks from severe declines, as buyers are quick to look for opportunities to scoop up cheaper shares. Indeed, the indexes ended well above their session lows on Tuesday as stocks partially recovered late in the day.</p>\n<p>In an encouraging sign about the economic rebound, a Federal Reserve report showed production at U.S. factories surged in July.</p>\n<p>Investors are looking for signs about when the Fed will rein in its easy money policies, with minutes from the central bank's latest meeting due on Wednesday, and are watching the resurgence in COVID-19 cases and its impact on the economy.</p>\n<p>In other company news, Walmart Inc shares ended little changed after the retailer increased its annual U.S. same-store sales forecast after beating analysts' estimates.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.92-to-1 ratio; on Nasdaq, a 2.51-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 44 new highs and 318 new lows.</p>\n<p>About 9.5 billion shares changed hands in U.S. exchanges, above the 9.2 billion daily average over the last 20 sessions.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street slumps after weak retail sales, Home Depot results</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street slumps after weak retail sales, Home Depot results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-08-18 06:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Home Depot falls as U.S. same-store sales miss estimates</p>\n<p>* Auto shortages, spend shift to services tank U.S. retail sales</p>\n<p>* Walmart flat after it raises sales forecast</p>\n<p>* Indexes down: Dow 0.79%, S&amp;P 0.71%, Nasdaq 0.93%</p>\n<p>Aug 17 (Reuters) - Wall Street's main indexes slid on Tuesday, with the S&amp;P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in U.S. retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot.</p>\n<p>Most of the S&amp;P 500's sectors finished lower, with consumer discretionary the weakest performer, falling 2.3%.</p>\n<p>Home Depot shares fell 4.3% after the company's U.S. same-store sales fell short of estimates for the first time in nearly two years as pandemic-fueled do-it-yourself projects tapered off. Shares of rival Lowe's Companies dropped 5.8%.</p>\n<p>A report showed that U.S. retail sales fell more than expected in July, as supply shortages depressed motor vehicle purchases and the boost to spending from the economy's reopening and stimulus checks faded, suggesting a slowdown in growth early in the third quarter.</p>\n<p>“The retail sales drop I think clarified for investors that COVID may well be a big problem going into the fall,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.</p>\n<p>Prior to Tuesday's drops, the S&amp;P 500 and the Dow Jones Industrial Average had closed at record highs for five straight sessions.</p>\n<p>“The (market) backdrop remains really solid,\" said Katie Nixon, chief investment officer at Northern Trust Wealth Management. \"At this point, when you have some of these negative macro indicators coming in and you have markets that are selling at all-time highs with pretty expensive valuations by any measure, there is just going to be more vulnerability to that kind of bad news.”</p>\n<p>The Dow Jones Industrial Average fell 282.12 points, or 0.79%, to 35,343.28, the S&amp;P 500 lost 31.63 points, or 0.71%, to 4,448.08 and the Nasdaq Composite dropped 137.58 points, or 0.93%, to 14,656.18.</p>\n<p>The S&amp;P 500 healthcare sector was a bright spot, ending up 1.1% on the day.</p>\n<p>With the market in a period that has seasonally been weak historically, investors have said stocks may be due for a significant drop, with the S&amp;P 500 yet to experience a 5% pullback this year. On Monday, the S&amp;P 500 closed 100% above its March 2020 low.</p>\n<p>Still, market watchers have said that huge amounts of cash held by investors and companies could protect stocks from severe declines, as buyers are quick to look for opportunities to scoop up cheaper shares. Indeed, the indexes ended well above their session lows on Tuesday as stocks partially recovered late in the day.</p>\n<p>In an encouraging sign about the economic rebound, a Federal Reserve report showed production at U.S. factories surged in July.</p>\n<p>Investors are looking for signs about when the Fed will rein in its easy money policies, with minutes from the central bank's latest meeting due on Wednesday, and are watching the resurgence in COVID-19 cases and its impact on the economy.</p>\n<p>In other company news, Walmart Inc shares ended little changed after the retailer increased its annual U.S. same-store sales forecast after beating analysts' estimates.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.92-to-1 ratio; on Nasdaq, a 2.51-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 44 new highs and 318 new lows.</p>\n<p>About 9.5 billion shares changed hands in U.S. exchanges, above the 9.2 billion daily average over the last 20 sessions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HD":"家得宝",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","HBCP":"Home合众银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160880977","content_text":"* Home Depot falls as U.S. same-store sales miss estimates\n* Auto shortages, spend shift to services tank U.S. retail sales\n* Walmart flat after it raises sales forecast\n* Indexes down: Dow 0.79%, S&P 0.71%, Nasdaq 0.93%\nAug 17 (Reuters) - Wall Street's main indexes slid on Tuesday, with the S&P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in U.S. retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot.\nMost of the S&P 500's sectors finished lower, with consumer discretionary the weakest performer, falling 2.3%.\nHome Depot shares fell 4.3% after the company's U.S. same-store sales fell short of estimates for the first time in nearly two years as pandemic-fueled do-it-yourself projects tapered off. Shares of rival Lowe's Companies dropped 5.8%.\nA report showed that U.S. retail sales fell more than expected in July, as supply shortages depressed motor vehicle purchases and the boost to spending from the economy's reopening and stimulus checks faded, suggesting a slowdown in growth early in the third quarter.\n“The retail sales drop I think clarified for investors that COVID may well be a big problem going into the fall,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.\nPrior to Tuesday's drops, the S&P 500 and the Dow Jones Industrial Average had closed at record highs for five straight sessions.\n“The (market) backdrop remains really solid,\" said Katie Nixon, chief investment officer at Northern Trust Wealth Management. \"At this point, when you have some of these negative macro indicators coming in and you have markets that are selling at all-time highs with pretty expensive valuations by any measure, there is just going to be more vulnerability to that kind of bad news.”\nThe Dow Jones Industrial Average fell 282.12 points, or 0.79%, to 35,343.28, the S&P 500 lost 31.63 points, or 0.71%, to 4,448.08 and the Nasdaq Composite dropped 137.58 points, or 0.93%, to 14,656.18.\nThe S&P 500 healthcare sector was a bright spot, ending up 1.1% on the day.\nWith the market in a period that has seasonally been weak historically, investors have said stocks may be due for a significant drop, with the S&P 500 yet to experience a 5% pullback this year. On Monday, the S&P 500 closed 100% above its March 2020 low.\nStill, market watchers have said that huge amounts of cash held by investors and companies could protect stocks from severe declines, as buyers are quick to look for opportunities to scoop up cheaper shares. Indeed, the indexes ended well above their session lows on Tuesday as stocks partially recovered late in the day.\nIn an encouraging sign about the economic rebound, a Federal Reserve report showed production at U.S. factories surged in July.\nInvestors are looking for signs about when the Fed will rein in its easy money policies, with minutes from the central bank's latest meeting due on Wednesday, and are watching the resurgence in COVID-19 cases and its impact on the economy.\nIn other company news, Walmart Inc shares ended little changed after the retailer increased its annual U.S. same-store sales forecast after beating analysts' estimates.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.92-to-1 ratio; on Nasdaq, a 2.51-to-1 ratio favored decliners.\nThe S&P 500 posted 39 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 44 new highs and 318 new lows.\nAbout 9.5 billion shares changed hands in U.S. exchanges, above the 9.2 billion daily average over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":811160217,"gmtCreate":1630298151739,"gmtModify":1704958030512,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/811160217","repostId":"1198438768","repostType":4,"repost":{"id":"1198438768","kind":"news","pubTimestamp":1630284738,"share":"https://www.laohu8.com/m/news/1198438768?lang=&edition=full","pubTime":"2021-08-30 08:52","market":"us","language":"en","title":"Fed’s Powell Cheers Markets But Risks a Mistake","url":"https://stock-news.laohu8.com/highlight/detail?id=1198438768","media":"Bloomberg","summary":"Investors will happily continue to give the Federal Reserve chair the benefit of the doubt, but ther","content":"<blockquote>\n Investors will happily continue to give the Federal Reserve chair&nbsp;the benefit of the doubt, but there’s good reason to question his characterization of policy being “well positioned.”\n</blockquote>\n<p>Federal Reserve Chair Jerome Powell’s speech Friday at the annual Jackson Hole forum was consistent with his very gradual and highly measured approach to policy changes – an approach that financial markets love as it implies a longer period of very loose liquidity that fuels ever higher asset prices. The real question, however, is whether the speech will end up being out of touch with actual economic and financial developments as they unfold over the remainder of this year and beyond.</p>\n<p>By refraining from breaking new ground or providing operational details of any evolution in policy, both of which would have inevitably tilted more hawkish at this point, Powell gave investors more reason to take stocks and bonds higher. And indeed, stocks rallied to a new record while bond prices also rose.</p>\n<p>Economists, however, seemed less convinced by the argumentation, the stated outlook and what it implies for the Fed’s go-slow policy evolution that markets like so much. More concerned about the two-sided nature of the inflation risk and the potential for a policy mistake, some would have favored a firmer signal about an imminent taper of the Fed’s large-scale asset purchases, something that I have argued is not just needed for both economic wellbeing and longer-term financial stability, but is also overdue.</p>\n<p>Powell in his speech appeared mindful not only of the latest facts on the ground that could guide Fed action, but also of the highly visible and accelerating hawkish swing among a growing number of members the policy-making Federal Open Market Committee. Specifically, in evaluating recent economic developments against the Fed’s formal dual mandate (price stability and employment), he observed thatthe Fed’s \"substantial further progress\" test of the economic recovery has been met as regards inflation, and that “there has also been clear progress toward maximum employment.”</p>\n<p>As these remarks&nbsp;would imply him being inclined toward an earlier taper timetable than he favored just a few weeks ago, Powell was quick to wrap this economic assessment in a twin packaging that was more dovish than what markets expected.</p>\n<p>First, Powell made a point of separating the move toward tapering from interest rate hikes that would normally follow. He stated that “the timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff, for which we have articulated a different and substantially more stringent test.”</p>\n<p>Second, in addition to refraining from providing details on the timing and pace a possible taper program, he built into such a future announcement quite a bit of what I suspect he hopes is constructive ambiguity. This included him stating that “we have much ground to cover to reach maximum employment, and time will tell whether we have reached 2 percent inflation on a sustainable basis.”</p>\n<p>This messaging is clearly meant to avoid the market disruptions that followed the first taper announcement in 2013 under then-Fed Chairman Ben Bernanke and Powell’s own experience in the fourth quarter of 2018. However, there’s good reason to question the characterization of Fed policy being “well positioned.” For example:</p>\n<ul>\n <li>The five reasons that Powell set out to support his oft-repeated argument that the recent spike in prices is likely transitory do little to alleviate current concerns about an inflation dynamic that is already proven and, judging from Friday’s data, continues to be hotter and more persistent than the Fed expects.</li>\n <li>His failure to mention housing and rental inflationmissed an important partof the evolving inflation story, and one that has consequential economic, social and political implications.</li>\n <li>Powell’s outlook for the economy doesn’t seem to reflect sufficient appreciation of the bottom-up, cost-push pressures that the majority of companies are experiencing and that several regional Fed presidents have cited in their own assessments of the economic outlook and their associated call for an early taper.</li>\n <li>After a balanced historical reading of policy reactions to higher inflation, Powell’s characterization of the current risk of a potential policy mistake appears overly biased in favor of an overreaction to inflation. If anything, the Fed is quite far from this given that it is still maintaining the uber-stimulative policy stance that it adopted well over a year ago at the height of the Covid disruptions to the economy and markets.</li>\n <li>Finally, while rightly pointing to the uncertainties associated with the delta variant, Powell shied away from discussing the considerable and increasing decoupling of finance from the real economy.</li>\n</ul>\n<p>Investors will happily continue to give Powell the benefit of the doubt;after all, his policy approach has paved the way for increasing financial wealth. Economists, though, are more divided. The beneficial impact on the economy of the Fed’s massive asset purchases are limited, if any, while the risks to economy and the financial system continue to mount.</p>\n<p>I continue to believe there is just cause for concern about a monetary policy mistake that could undermine future economic wellbeing and financial stability, with adverse social, institutional and political spillovers.I am hoping that my worries are misplaced but unfortunately, both the numbers and the analysis suggest otherwise.</p>","source":"lsy1584095487587","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>Fed’s Powell Cheers Markets But Risks a Mistake</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nFed’s Powell Cheers Markets But Risks a Mistake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-30 08:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/opinion/articles/2021-08-29/federal-reserve-chair-jerome-powell-s-dovish-tilt-risks-a-mistake><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors will happily continue to give the Federal Reserve chair the benefit of the doubt, but there’s good reason to question his characterization of policy being “well positioned.”\n\nFederal Reserve...</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-08-29/federal-reserve-chair-jerome-powell-s-dovish-tilt-risks-a-mistake\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/opinion/articles/2021-08-29/federal-reserve-chair-jerome-powell-s-dovish-tilt-risks-a-mistake","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198438768","content_text":"Investors will happily continue to give the Federal Reserve chair the benefit of the doubt, but there’s good reason to question his characterization of policy being “well positioned.”\n\nFederal Reserve Chair Jerome Powell’s speech Friday at the annual Jackson Hole forum was consistent with his very gradual and highly measured approach to policy changes – an approach that financial markets love as it implies a longer period of very loose liquidity that fuels ever higher asset prices. The real question, however, is whether the speech will end up being out of touch with actual economic and financial developments as they unfold over the remainder of this year and beyond.\nBy refraining from breaking new ground or providing operational details of any evolution in policy, both of which would have inevitably tilted more hawkish at this point, Powell gave investors more reason to take stocks and bonds higher. And indeed, stocks rallied to a new record while bond prices also rose.\nEconomists, however, seemed less convinced by the argumentation, the stated outlook and what it implies for the Fed’s go-slow policy evolution that markets like so much. More concerned about the two-sided nature of the inflation risk and the potential for a policy mistake, some would have favored a firmer signal about an imminent taper of the Fed’s large-scale asset purchases, something that I have argued is not just needed for both economic wellbeing and longer-term financial stability, but is also overdue.\nPowell in his speech appeared mindful not only of the latest facts on the ground that could guide Fed action, but also of the highly visible and accelerating hawkish swing among a growing number of members the policy-making Federal Open Market Committee. Specifically, in evaluating recent economic developments against the Fed’s formal dual mandate (price stability and employment), he observed thatthe Fed’s \"substantial further progress\" test of the economic recovery has been met as regards inflation, and that “there has also been clear progress toward maximum employment.”\nAs these remarks would imply him being inclined toward an earlier taper timetable than he favored just a few weeks ago, Powell was quick to wrap this economic assessment in a twin packaging that was more dovish than what markets expected.\nFirst, Powell made a point of separating the move toward tapering from interest rate hikes that would normally follow. He stated that “the timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff, for which we have articulated a different and substantially more stringent test.”\nSecond, in addition to refraining from providing details on the timing and pace a possible taper program, he built into such a future announcement quite a bit of what I suspect he hopes is constructive ambiguity. This included him stating that “we have much ground to cover to reach maximum employment, and time will tell whether we have reached 2 percent inflation on a sustainable basis.”\nThis messaging is clearly meant to avoid the market disruptions that followed the first taper announcement in 2013 under then-Fed Chairman Ben Bernanke and Powell’s own experience in the fourth quarter of 2018. However, there’s good reason to question the characterization of Fed policy being “well positioned.” For example:\n\nThe five reasons that Powell set out to support his oft-repeated argument that the recent spike in prices is likely transitory do little to alleviate current concerns about an inflation dynamic that is already proven and, judging from Friday’s data, continues to be hotter and more persistent than the Fed expects.\nHis failure to mention housing and rental inflationmissed an important partof the evolving inflation story, and one that has consequential economic, social and political implications.\nPowell’s outlook for the economy doesn’t seem to reflect sufficient appreciation of the bottom-up, cost-push pressures that the majority of companies are experiencing and that several regional Fed presidents have cited in their own assessments of the economic outlook and their associated call for an early taper.\nAfter a balanced historical reading of policy reactions to higher inflation, Powell’s characterization of the current risk of a potential policy mistake appears overly biased in favor of an overreaction to inflation. If anything, the Fed is quite far from this given that it is still maintaining the uber-stimulative policy stance that it adopted well over a year ago at the height of the Covid disruptions to the economy and markets.\nFinally, while rightly pointing to the uncertainties associated with the delta variant, Powell shied away from discussing the considerable and increasing decoupling of finance from the real economy.\n\nInvestors will happily continue to give Powell the benefit of the doubt;after all, his policy approach has paved the way for increasing financial wealth. Economists, though, are more divided. The beneficial impact on the economy of the Fed’s massive asset purchases are limited, if any, while the risks to economy and the financial system continue to mount.\nI continue to believe there is just cause for concern about a monetary policy mistake that could undermine future economic wellbeing and financial stability, with adverse social, institutional and political spillovers.I am hoping that my worries are misplaced but unfortunately, both the numbers and the analysis suggest otherwise.","news_type":1},"isVote":1,"tweetType":1,"viewCount":599,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894653479,"gmtCreate":1628823677891,"gmtModify":1631891598889,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/894653479","repostId":"1180393666","repostType":4,"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":868507911,"gmtCreate":1632667208933,"gmtModify":1632798693290,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/868507911","repostId":"1175726457","repostType":4,"repost":{"id":"1175726457","kind":"news","pubTimestamp":1632626757,"share":"https://www.laohu8.com/m/news/1175726457?lang=&edition=full","pubTime":"2021-09-26 11:25","market":"sh","language":"en","title":"Opinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell","url":"https://stock-news.laohu8.com/highlight/detail?id=1175726457","media":"Market Watch","summary":"It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for tw","content":"<p>It’s an urgent question, since the <a href=\"https://laohu8.com/S/C\">Citigroup</a> Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the extent to which the latest economic news deviates from the Wall Street consensus. The past two months of consistently negative CESI readings therefore mean that the economic news, on balance, has been worse than expected.</p>\n<p>Is it good news or bad for stock investors that recent U.S. economic news releases have been significantly worse than expected?</p>\n<p>The latest reading from the Citigroup Economic Surprise Index (CESI) is minus 29.2. <a href=\"https://laohu8.com/S/JE\">Just</a> 10 days ago it was even more negative, at minus 61.7. Its average over the last 18 years is 4.6.</p>\n<p><img src=\"https://static.tigerbbs.com/dd20c01571a824c8113089a65b814bb3\" tg-width=\"700\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>There is no consensus among the advisers I monitor about what these latest readings mean. Some believe it’s good news, on the contrarian theory that the worse-than-expected news constitutes a“wall of worry”that the U.S. bull market can climb. Others argue that you can’t sugar-coat worse-than-expected economic news.</p>\n<p>To help resolve their disagreement, I analyzed daily CESI data back to 2003. Specifically, I measured its correlation with the S&amp;P 500’sSPX,+0.15%return over the subsequent month-, quarter-, six months, and <a href=\"https://laohu8.com/S/AONE.U\">one</a> year. I came up with nothing that met traditional standards of statistical significance.</p>\n<p>A summary of what I found is plotted in the chart below. Notice that the S&amp;P 500’s average return is virtually the same regardless of whether the CESI is positive or negative, trending upward or downward.</p>\n<p><img src=\"https://static.tigerbbs.com/65016b28c482526ac92a5d6035ba9ed9\" tg-width=\"700\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>These findings are not a criticism of the CESI itself. Citigroup created the index as a useful tool for foreign exchange traders.Citigroup has saidthat the CESI “is a perfect example of unique proprietary design which has almost no bearing on those who discuss it… It was not meant to be used for stock prices.”</p>\n<p>There’s a broader lesson here for us to learn as well: We need to subject our intuitions to empirical reality checks. That’s especially important when our hunches seem so obviously true — as is the case when it comes to whether the economic news is coming in better or worse than expected. Stock market history is filled with expectations that were guaranteed to happen but which did not.</p>\n<p>It can be tedious plowing through huge databases to see if a pattern really exists. But it’s worth the effort. Though being statistically rigorous does not guarantee that you will beat the market, you most assuredly will lose to the market if you’re statistically sloppy and inconsistent.</p>","source":"lsy1616996754749","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>Opinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nOpinion: Market analysts can’t agree on where stocks are going next. So double-check the data before you buy or sell\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-26 11:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page><strong>Market Watch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/market-analysts-cant-agree-on-where-stocks-are-going-next-so-double-check-the-data-before-you-buy-or-sell-11632447577?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175726457","content_text":"It’s an urgent question, since the Citigroup Economic Surprise Index (CESI) has been negative for two months now, following an unbroken positive stretch for more than a year. The CESI measures the extent to which the latest economic news deviates from the Wall Street consensus. The past two months of consistently negative CESI readings therefore mean that the economic news, on balance, has been worse than expected.\nIs it good news or bad for stock investors that recent U.S. economic news releases have been significantly worse than expected?\nThe latest reading from the Citigroup Economic Surprise Index (CESI) is minus 29.2. Just 10 days ago it was even more negative, at minus 61.7. Its average over the last 18 years is 4.6.\n\nThere is no consensus among the advisers I monitor about what these latest readings mean. Some believe it’s good news, on the contrarian theory that the worse-than-expected news constitutes a“wall of worry”that the U.S. bull market can climb. Others argue that you can’t sugar-coat worse-than-expected economic news.\nTo help resolve their disagreement, I analyzed daily CESI data back to 2003. Specifically, I measured its correlation with the S&P 500’sSPX,+0.15%return over the subsequent month-, quarter-, six months, and one year. I came up with nothing that met traditional standards of statistical significance.\nA summary of what I found is plotted in the chart below. Notice that the S&P 500’s average return is virtually the same regardless of whether the CESI is positive or negative, trending upward or downward.\n\nThese findings are not a criticism of the CESI itself. Citigroup created the index as a useful tool for foreign exchange traders.Citigroup has saidthat the CESI “is a perfect example of unique proprietary design which has almost no bearing on those who discuss it… It was not meant to be used for stock prices.”\nThere’s a broader lesson here for us to learn as well: We need to subject our intuitions to empirical reality checks. That’s especially important when our hunches seem so obviously true — as is the case when it comes to whether the economic news is coming in better or worse than expected. Stock market history is filled with expectations that were guaranteed to happen but which did not.\nIt can be tedious plowing through huge databases to see if a pattern really exists. But it’s worth the effort. Though being statistically rigorous does not guarantee that you will beat the market, you most assuredly will lose to the market if you’re statistically sloppy and inconsistent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":835118074,"gmtCreate":1629692849998,"gmtModify":1631891598792,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/835118074","repostId":"2161742695","repostType":4,"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892348659,"gmtCreate":1628640957071,"gmtModify":1631893485811,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/892348659","repostId":"1198801747","repostType":4,"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869664928,"gmtCreate":1632281913664,"gmtModify":1632801507732,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/869664928","repostId":"2169637993","repostType":4,"repost":{"id":"2169637993","kind":"news","pubTimestamp":1632267840,"share":"https://www.laohu8.com/m/news/2169637993?lang=&edition=full","pubTime":"2021-09-22 07:44","market":"us","language":"en","title":"After-Hours Stock Movers: Marin, FedEx, Adobe and more","url":"https://stock-news.laohu8.com/highlight/detail?id=2169637993","media":"StreetInsider","summary":"After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Goo","content":"<p>After-Hours Movers:</p>\n<p><a href=\"https://laohu8.com/S/MRIN\">Marin</a> (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.</p>\n<p><a href=\"https://laohu8.com/S/SMMT\">Summit Therapeutics PLC</a> (NASDAQ: SMMT) 19.8% LOWER; received feedback from the United States Food and Drug Administration (the “FDA”) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies when combining the studies. As Summit previously communicated, it has combined the Phase III studies into a single study and will provide the combined results to all stakeholders, as the top line results become available. These top line results will best inform all parties as to the next appropriate course of action regarding ridinilazole. Summit anticipates communicating these results during the first quarter of 2022.</p>\n<p><a href=\"https://laohu8.com/S/SFIX\">Stitch Fix Inc.</a> (NASDAQ: SFIX) 15.6% HIGHER; reported Q4 EPS of $0.19, $0.32 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $571.2 million versus the consensus estimate of $547.89 million. Stitch Fix sees Q1 2022 revenue of $560-575 million, versus the consensus of $591 million.</p>\n<p><a href=\"https://laohu8.com/S/LPTX\">Leap Therapeutics Inc</a> (Nasdaq: LPTX) 10.2% LOWER; commenced an underwritten public offering of its common stock and, in lieu of common stock, Leap intends to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. Leap intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the securities offered in the public offering. The offering is subject to market, regulatory, and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.</p>\n<p><a href=\"https://laohu8.com/S/FDX\">FedEx</a> (NYSE: FDX) 4.5% LOWER; reported Q1 EPS of $4.37, $0.63 worse than the analyst estimate of $5.00. Revenue for the quarter came in at $22 billion versus the consensus estimate of $21.91 billion. FedEx sees FY2022 EPS of $19.75-$21.00, versus the consensus of $21.20.</p>\n<p><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Systems (NASDAQ: ADBE) 4% LOWER; reported Q3 EPS of $3.11, $0.10 better than the analyst estimate of $3.01. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.89 billion. Adobe Systems sees Q4 2021 EPS of $3.18, versus the consensus of $3.08. Adobe Systems sees Q4 2021 revenue of $4.07 billion, versus the consensus of $4.04 billion.</p>\n<p><a href=\"https://laohu8.com/S/H\">Hyatt</a> Corporation (NYSE: H) 3% LOWER; commenced an underwritten registered public offering of 7,000,000 shares of its Class A common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its Class A common stock. The offering is subject to market and other customary conditions.</p>","source":"highlight_streetinsider","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>After-Hours Stock Movers: Marin, FedEx, Adobe and more</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nAfter-Hours Stock Movers: Marin, FedEx, Adobe and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-22 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18966188><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.\nSummit ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18966188\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRIN":"Marin Software Inc.","LPTX":"Leap Therapeutics Inc","SMMT":"Summit Therapeutics PLC","SFIX":"Stitch Fix Inc.","FDX":"联邦快递"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18966188","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169637993","content_text":"After-Hours Movers:\nMarin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.\nSummit Therapeutics PLC (NASDAQ: SMMT) 19.8% LOWER; received feedback from the United States Food and Drug Administration (the “FDA”) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies when combining the studies. As Summit previously communicated, it has combined the Phase III studies into a single study and will provide the combined results to all stakeholders, as the top line results become available. These top line results will best inform all parties as to the next appropriate course of action regarding ridinilazole. Summit anticipates communicating these results during the first quarter of 2022.\nStitch Fix Inc. (NASDAQ: SFIX) 15.6% HIGHER; reported Q4 EPS of $0.19, $0.32 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $571.2 million versus the consensus estimate of $547.89 million. Stitch Fix sees Q1 2022 revenue of $560-575 million, versus the consensus of $591 million.\nLeap Therapeutics Inc (Nasdaq: LPTX) 10.2% LOWER; commenced an underwritten public offering of its common stock and, in lieu of common stock, Leap intends to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. Leap intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the securities offered in the public offering. The offering is subject to market, regulatory, and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\nFedEx (NYSE: FDX) 4.5% LOWER; reported Q1 EPS of $4.37, $0.63 worse than the analyst estimate of $5.00. Revenue for the quarter came in at $22 billion versus the consensus estimate of $21.91 billion. FedEx sees FY2022 EPS of $19.75-$21.00, versus the consensus of $21.20.\nAdobe Systems (NASDAQ: ADBE) 4% LOWER; reported Q3 EPS of $3.11, $0.10 better than the analyst estimate of $3.01. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.89 billion. Adobe Systems sees Q4 2021 EPS of $3.18, versus the consensus of $3.08. Adobe Systems sees Q4 2021 revenue of $4.07 billion, versus the consensus of $4.04 billion.\nHyatt Corporation (NYSE: H) 3% LOWER; commenced an underwritten registered public offering of 7,000,000 shares of its Class A common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its Class A common stock. The offering is subject to market and other customary conditions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832861698,"gmtCreate":1629607280714,"gmtModify":1631891598806,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/832861698","repostId":"2161745814","repostType":4,"repost":{"id":"2161745814","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1629493200,"share":"https://www.laohu8.com/m/news/2161745814?lang=&edition=full","pubTime":"2021-08-21 05:00","market":"hk","language":"en","title":"S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians","url":"https://stock-news.laohu8.com/highlight/detail?id=2161745814","media":"Dow Jones","summary":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket o","content":"<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nS&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-08-21 05:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","SH":"标普500反向ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEX":"标普100","SSO":"两倍做多标普500ETF","OEF":"标普100指数ETF-iShares","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SDS":"两倍做空标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":820094772,"gmtCreate":1633321951661,"gmtModify":1633321952761,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/820094772","repostId":"1186540865","repostType":4,"repost":{"id":"1186540865","kind":"news","pubTimestamp":1633289898,"share":"https://www.laohu8.com/m/news/1186540865?lang=&edition=full","pubTime":"2021-10-04 03:38","market":"us","language":"en","title":"US IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1186540865","media":"Renaissance Capital","summary":"In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness co","content":"<p>In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.</p>\n<p>Fitness chain<b>Life Time Group Holdings</b>(LTH) plans to raise $901 million at a $4.1 billion market cap. Taken private in 2015, Life Time operates more than 150 \"centers\" across 29 US states and one province in Canada, serving nearly 1.4 million individual members as of 7/31/21. While the company was hit hard by the pandemic, operations have since improved dramatically, with revenue quadrupling in the 2Q21.</p>\n<p>Fitness equipment brand<b>iFIT Health &amp; Fitness</b>(IFIT) plans to raise $600 million at a $6.4 billion market cap. iFIT is the #1 provider of large fitness equipment in the US, selling under brands including iFIT, NordicTrack, ProForm, and Freemotion. Fast growing and unprofitable, the company serves a community of over 6.1 million members and 1.5 million subscribers in over 120 countries.</p>\n<p>Proteomics platform<b>IsoPlexis</b>(ISO) plans to raise $125 million at a $648 million market cap. IsoPlexis believes its platform is the first to employ both proteomics and single cell biology to characterize and link cellular function to patient outcomes. Fast growing and highly unprofitable, the company's platform has been adopted by the top 15 global biopharmas and nearly half of the comprehensive cancer centers in the US since its commercial launch in June 2018.</p>\n<p>Biotech<b>Theseus Pharmaceuticals</b>(THRX) plans to raise $125 million at a $593 million market cap. Theseus’ lead candidate is a pan-variant inhibitor of all major classes of activating/resistance mutations of the KIT kinase for of gastrointestinal stromal tumors (GIST). The company recently submitted an IND for advanced GIST and plans to initiate a Phase 1/2 trial between late 4Q21 and mid 1Q22.</p>\n<p>Drug developer<b>Cingulate</b>(CING) plans to raise $50 million at a $225 million market cap. Its two candidates, CTx-1301 and CTx-1302, are being developed for the treatment of ADHD. The company announced positive results from a Phase 1/2 study of CTx-1301 in October 2020, and plans to initiate Phase 3 trials in the 4Q21 with results expected in late 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/610fa042e4de459e4597ed8086743234\" tg-width=\"1894\" tg-height=\"912\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1603787993745","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>US IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nUS IPO Week Ahead: New issuers work up a sweat in a fitness-led 5 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-04 03:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.\nFitness chainLife Time Group Holdings(LTH) plans to raise $901 million at a $4.1 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LTH":"Life Time Group Holdings, Inc.","THRX":"Theseus Pharmaceuticals, Inc.","ISO":"IsoPlexis Corp.","CING":"CINGULATE INC."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86747/US-IPO-Week-Ahead-New-issuers-work-up-a-sweat-in-a-fitness-led-5-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186540865","content_text":"In the first full week of October, five IPOs are slated to raise $1.8 billion, led by two fitness companies.\nFitness chainLife Time Group Holdings(LTH) plans to raise $901 million at a $4.1 billion market cap. Taken private in 2015, Life Time operates more than 150 \"centers\" across 29 US states and one province in Canada, serving nearly 1.4 million individual members as of 7/31/21. While the company was hit hard by the pandemic, operations have since improved dramatically, with revenue quadrupling in the 2Q21.\nFitness equipment brandiFIT Health & Fitness(IFIT) plans to raise $600 million at a $6.4 billion market cap. iFIT is the #1 provider of large fitness equipment in the US, selling under brands including iFIT, NordicTrack, ProForm, and Freemotion. Fast growing and unprofitable, the company serves a community of over 6.1 million members and 1.5 million subscribers in over 120 countries.\nProteomics platformIsoPlexis(ISO) plans to raise $125 million at a $648 million market cap. IsoPlexis believes its platform is the first to employ both proteomics and single cell biology to characterize and link cellular function to patient outcomes. Fast growing and highly unprofitable, the company's platform has been adopted by the top 15 global biopharmas and nearly half of the comprehensive cancer centers in the US since its commercial launch in June 2018.\nBiotechTheseus Pharmaceuticals(THRX) plans to raise $125 million at a $593 million market cap. Theseus’ lead candidate is a pan-variant inhibitor of all major classes of activating/resistance mutations of the KIT kinase for of gastrointestinal stromal tumors (GIST). The company recently submitted an IND for advanced GIST and plans to initiate a Phase 1/2 trial between late 4Q21 and mid 1Q22.\nDrug developerCingulate(CING) plans to raise $50 million at a $225 million market cap. Its two candidates, CTx-1301 and CTx-1302, are being developed for the treatment of ADHD. The company announced positive results from a Phase 1/2 study of CTx-1301 in October 2020, and plans to initiate Phase 3 trials in the 4Q21 with results expected in late 2022.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834355489,"gmtCreate":1629774153941,"gmtModify":1631888310837,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/834355489","repostId":"2161577712","repostType":4,"isVote":1,"tweetType":1,"viewCount":165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830555170,"gmtCreate":1629083836390,"gmtModify":1631891598886,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"like please","listText":"like please","text":"like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/830555170","repostId":"1129589874","repostType":4,"repost":{"id":"1129589874","kind":"news","pubTimestamp":1629067868,"share":"https://www.laohu8.com/m/news/1129589874?lang=&edition=full","pubTime":"2021-08-16 06:51","market":"us","language":"en","title":"Nvidia, Tencent,Walmart, Target and Other Stocks to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1129589874","media":"Barrons","summary":"It’s the late innings of second-quarter earnings season, with retailers ready to step up to the plate. Walmart and Home Depot report on Tuesday, followed by Lowe’s, Target, and TJX on Wednesday. Kohl’s, Macy’s, BJ’s Wholesale, and L Brands are Thursday’s retail highlights, then Foot Locker closes the week on Friday.The Census Bureau’s July retail sales data for July is also out this week, on Tuesday. Economists on average are forecasting a 0.2% seasonally adjusted increase last month, after a 0.","content":"<p>It’s the late innings of second-quarter earnings season, with retailers ready to step up to the plate. Walmart and Home Depot report on Tuesday, followed by Lowe’s, Target, and TJX on Wednesday.&nbsp;Kohl’s, Macy’s, BJ’s Wholesale, and L Brands are Thursday’s retail highlights, then Foot Locker closes the week on Friday.</p>\n<p>The Census Bureau’s July retail sales data for July is also out this week, on Tuesday. Economists on average are forecasting a&nbsp;0.2% seasonally adjusted increase last month, after a 0.6% rise in June.</p>\n<p>Major non-retail companies releasing results this week include Pandora and&nbsp;Krispy Kreme&nbsp;on Tuesday, followed by a busy Wednesday:Nvidia,Tencent Holdings,CiscoSystems,Analog Devices,and&nbsp;Lumentum Holdings&nbsp;all report.Applied Materials&nbsp;goes on Thursday and Deere closes the week on Friday.</p>\n<p>Economic data out this week include several housing-market metrics:&nbsp;The National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for August on Tuesday and the Census Bureau’s new residential construction report for July on Wednesday.</p>\n<p>Also on Wednesday, the&nbsp;Federal Reserve’s monetary policy committee releases the minutes from its last meeting in late July. Then, the&nbsp;Conference Board publishes its Leading Economic Index for July on Thursday.</p>\n<p><b>Monday 8/16</b></p>\n<p>Tencent Music Entertainment Group,Tokyo Electron,and&nbsp;Clear Secure&nbsp;are among the companies holding earnings conference calls.</p>\n<p><b>The Federal Reserve</b>&nbsp;Bank of New York releases its Empire State Manufacturing Survey for August. The consensus estimate is for a 26.5 reading. That compares with a record high of 43.0 in July, when the general business conditions index rose 26 points.</p>\n<p><b>Tuesday 8/17</b></p>\n<p>BHP, Walmart, Home Depot,Agilent Technologies,Pandora, and Krispy Kreme are among the companies hosting earnings conference calls.</p>\n<p>America’s Car-Mart,Jack Henry &amp; Associates,and&nbsp;La-Z-Boy&nbsp;report financial results after the market closes and will hold earnings calls the following morning, Aug. 18.</p>\n<p><b>The Federal Reserve</b>&nbsp;releases capacity utilization in the industrial sector for July. Consensus calls for a 75.7% reading, little changed from June’s 75.4% reading. Industrial production is seen rising 0.5% from June’s 0.4% seasonally adjusted increase.</p>\n<p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for August. Economists forecast an 80 reading, the same as in July. The index is down from its all-time high of 90 set in November.</p>\n<p><b>Federal Reserve Board</b>&nbsp;Chairman Jay Powell will host a virtual town hall with educators and students.</p>\n<p><b>The Census Bureau reports</b>&nbsp;retail sales data for July. Expectations are for a 0.3% seasonally adjusted month-over-month decrease, following a 0.6% rise in June. Excluding autos, spending is seen rising 0.2%, compared with a 1.3% rise in the previous month.</p>\n<p><b>Wednesday 8/18</b></p>\n<p><b>The Federal Open Market</b>&nbsp;Committee releases the minutes from its late-July monetary-policy meeting.</p>\n<p>Cisco Systems, Lowe’s, Target, TJX, Tencent Holdings,Brinker International,Analog Devices,Synopsys,Lumentum Holdings, and Nvidia host earnings conference calls.</p>\n<p><b>The Census Bureau’s</b>new residential construction report for July is expected to show the seasonally adjusted annual rate of housing starts at 1.610 million, down from June’s 1.643 million. Housing starts hit a postpandemic peak of 1.73 million in March.</p>\n<p><b>Thursday 8/19</b></p>\n<p>BJ’s Wholesale,<b>L Brands</b>, Applied Materials,Ross Stores,Estée Lauder,Kohl’s, Macy’s,Performance Food Group,Petco Health and Wellness,and Farfetch host earnings conference calls.</p>\n<p><b>The Conference Board</b>releases its Leading Economic Index for July. The LEI is expected to increase 0.7% month over month, after gaining 0.7% in June.</p>\n<p><b>Friday 8/20</b></p>\n<p>Deere and Foot Locker host conference calls to discuss financial results.</p>","source":"lsy1601382232898","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>Nvidia, Tencent,Walmart, Target and Other Stocks to Watch This Week</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nNvidia, Tencent,Walmart, Target and Other Stocks to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-16 06:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-to-watch-this-week-51629054047?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s the late innings of second-quarter earnings season, with retailers ready to step up to the plate. Walmart and Home Depot report on Tuesday, followed by Lowe’s, Target, and TJX on Wednesday. Kohl’...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-to-watch-this-week-51629054047?mod=hp_LEAD_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TGT":"塔吉特","TME":"腾讯音乐","NVDA":"英伟达",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","WMT":"沃尔玛"},"source_url":"https://www.barrons.com/articles/stocks-to-watch-this-week-51629054047?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129589874","content_text":"It’s the late innings of second-quarter earnings season, with retailers ready to step up to the plate. Walmart and Home Depot report on Tuesday, followed by Lowe’s, Target, and TJX on Wednesday. Kohl’s, Macy’s, BJ’s Wholesale, and L Brands are Thursday’s retail highlights, then Foot Locker closes the week on Friday.\nThe Census Bureau’s July retail sales data for July is also out this week, on Tuesday. Economists on average are forecasting a 0.2% seasonally adjusted increase last month, after a 0.6% rise in June.\nMajor non-retail companies releasing results this week include Pandora and Krispy Kreme on Tuesday, followed by a busy Wednesday:Nvidia,Tencent Holdings,CiscoSystems,Analog Devices,and Lumentum Holdings all report.Applied Materials goes on Thursday and Deere closes the week on Friday.\nEconomic data out this week include several housing-market metrics: The National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for August on Tuesday and the Census Bureau’s new residential construction report for July on Wednesday.\nAlso on Wednesday, the Federal Reserve’s monetary policy committee releases the minutes from its last meeting in late July. Then, the Conference Board publishes its Leading Economic Index for July on Thursday.\nMonday 8/16\nTencent Music Entertainment Group,Tokyo Electron,and Clear Secure are among the companies holding earnings conference calls.\nThe Federal Reserve Bank of New York releases its Empire State Manufacturing Survey for August. The consensus estimate is for a 26.5 reading. That compares with a record high of 43.0 in July, when the general business conditions index rose 26 points.\nTuesday 8/17\nBHP, Walmart, Home Depot,Agilent Technologies,Pandora, and Krispy Kreme are among the companies hosting earnings conference calls.\nAmerica’s Car-Mart,Jack Henry & Associates,and La-Z-Boy report financial results after the market closes and will hold earnings calls the following morning, Aug. 18.\nThe Federal Reserve releases capacity utilization in the industrial sector for July. Consensus calls for a 75.7% reading, little changed from June’s 75.4% reading. Industrial production is seen rising 0.5% from June’s 0.4% seasonally adjusted increase.\nThe National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for August. Economists forecast an 80 reading, the same as in July. The index is down from its all-time high of 90 set in November.\nFederal Reserve Board Chairman Jay Powell will host a virtual town hall with educators and students.\nThe Census Bureau reports retail sales data for July. Expectations are for a 0.3% seasonally adjusted month-over-month decrease, following a 0.6% rise in June. Excluding autos, spending is seen rising 0.2%, compared with a 1.3% rise in the previous month.\nWednesday 8/18\nThe Federal Open Market Committee releases the minutes from its late-July monetary-policy meeting.\nCisco Systems, Lowe’s, Target, TJX, Tencent Holdings,Brinker International,Analog Devices,Synopsys,Lumentum Holdings, and Nvidia host earnings conference calls.\nThe Census Bureau’snew residential construction report for July is expected to show the seasonally adjusted annual rate of housing starts at 1.610 million, down from June’s 1.643 million. Housing starts hit a postpandemic peak of 1.73 million in March.\nThursday 8/19\nBJ’s Wholesale,L Brands, Applied Materials,Ross Stores,Estée Lauder,Kohl’s, Macy’s,Performance Food Group,Petco Health and Wellness,and Farfetch host earnings conference calls.\nThe Conference Boardreleases its Leading Economic Index for July. The LEI is expected to increase 0.7% month over month, after gaining 0.7% in June.\nFriday 8/20\nDeere and Foot Locker host conference calls to discuss financial results.","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":865219862,"gmtCreate":1632985616886,"gmtModify":1632985617860,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865219862","repostId":"1104172212","repostType":4,"repost":{"id":"1104172212","kind":"news","pubTimestamp":1632965278,"share":"https://www.laohu8.com/m/news/1104172212?lang=&edition=full","pubTime":"2021-09-30 09:27","market":"us","language":"en","title":"2021 Global Market Outlook - Q4 Update: Growing Pains","url":"https://stock-news.laohu8.com/highlight/detail?id=1104172212","media":"seekingalpha","summary":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double","content":"<p><b>Summary</b></p>\n<ul>\n <li>The post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.</li>\n <li>The reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.</li>\n <li>The key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.</li>\n</ul>\n<p>The COVID-19 delta variant, inflation and central bank tapering are unnerving investors. <b>We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.</b></p>\n<p><b>Introduction</b></p>\n<p>The post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.</p>\n<p>Another worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.</p>\n<p>The conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.</p>\n<p><b>Cycle still in recovery phase</b></p>\n<p>The post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.</p>\n<p><b>U.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS</b></p>\n<p><img src=\"https://static.tigerbbs.com/28a91fe2991463e2285879c32cb1b8c7\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>The U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.</p>\n<p><b>GDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019</b></p>\n<p><img src=\"https://static.tigerbbs.com/577d1b96aef08b71c9bdb6665a21b2ac\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Two key indicators</b></p>\n<p>Last quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.</p>\n<p>The first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.</p>\n<p><b>WATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE</b></p>\n<p><img src=\"https://static.tigerbbs.com/13f3cf57b58f600fe6681e9015779e85\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>The second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.</p>\n<p><b>WATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER</b></p>\n<p><img src=\"https://static.tigerbbs.com/a1d3ff1ca26f6d29a28f919c65531c9a\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Reopening trade still makes sense</b></p>\n<p>The reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.</p>\n<p>The reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.</p>\n<p>The rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.</p>\n<p>Emerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.</p>\n<p>The resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.</p>\n<p><b>Risks: variants, inflation, China weakness</b></p>\n<p>The key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.</p>\n<p>Another watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.</p>\n<p>Finally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.</p>\n<p><b>Regional snapshotsUnited States</b></p>\n<p>The U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&amp;P 500® Index earnings-per-share already sit 20% above their previous cyclical high.</p>\n<p>Strong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.</p>\n<p>Wage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.</p>\n<p>Fiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&amp;P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be a<i>risk-on</i>preference for equities over bonds for the medium-term.</p>\n<p><b>Eurozone</b></p>\n<p>Euro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).</p>\n<p>The MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&amp;P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.</p>\n<p><b>United Kingdom</b></p>\n<p>As of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.</p>\n<p>The FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.</p>\n<p><b>Japan</b></p>\n<p>The Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.</p>\n<p><b>China</b></p>\n<p>We expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.</p>\n<p><b>Canada</b></p>\n<p>Canada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.</p>\n<p>Tapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.</p>\n<p><b>Australia/New Zealand</b></p>\n<p>The Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.</p>\n<p>New Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.</p>\n<p><b>Asset-class preferences</b></p>\n<p>Our cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.</p>\n<p><b>COMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL</b></p>\n<p><img src=\"https://static.tigerbbs.com/5c527955abbc9e770d200c1d709f80d8\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<ul>\n <li>We prefer<b>non-U.S. equities</b>to U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.</li>\n <li><b>Emerging markets equities</b>have been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.</li>\n <li><b>High yield</b>and<b>investment grade credit</b>are expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominated<b>emerging markets debt</b>is close to fair value in spread terms and will gain support on U.S. dollar weakness.</li>\n <li><b>Government bonds</b>are expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.</li>\n <li><b>Real assets</b>: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.<b>Commodities</b>have been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.</li>\n <li>The<b>U.S. dollar</b>has been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be the<b>euro</b>, which is still undervalued. We also believe<b>British sterling</b>and the economically sensitive<i>commodity currencies</i>—the<b>Australian dollar</b>, the<b>New Zealand dollar</b>and the<b>Canadian dollar</b>—can make further gains, although these currencies are not undervalued from a longer-term perspective.</li>\n</ul>\n<p><b>ASSET PERFORMANCE SINCE THE BEGINNING OF 2021</b></p>\n<p><img src=\"https://static.tigerbbs.com/50e253becd38bd122d9fc211e7b0f583\" tg-width=\"1280\" tg-height=\"982\" referrerpolicy=\"no-referrer\"></p>\n<p>1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.</p>\n<p><b>Important Information</b></p>\n<p>The views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.</p>\n<p>Please remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.</p>\n<p>Keep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.</p>\n<p>No model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.</p>\n<p>Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.</p>\n<p>Investment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.</p>\n<p>Currency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.</p>\n<p>Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.</p>\n<p>Bond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.</p>\n<p>Performance quoted represents past performance and should not be viewed as a guarantee of future results.</p>\n<p>The FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.</p>\n<p>The S&amp;P 500® Index, or the Standard &amp; Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.</p>\n<p>The MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.</p>\n<p>Indexes are unmanaged and cannot be invested in directly.</p>\n<p>Copyright © Russell Investments 2021. 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The general information contained on this website should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. Persons outside the United States may find more information about products and services available within their jurisdictions by going to Russell Investments' Worldwide site.</p>\n<p>Russell Investments is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone, and applying the relevant accessibility standards.</p>\n<p>Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.</p>","source":"seekingalpha","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>2021 Global Market Outlook - Q4 Update: Growing Pains</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n2021 Global Market Outlook - Q4 Update: Growing Pains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 09:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in ...</p>\n\n<a href=\"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104172212","content_text":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.\n\nThe COVID-19 delta variant, inflation and central bank tapering are unnerving investors. We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.\nIntroduction\nThe post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.\nAnother worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.\nThe conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.\nCycle still in recovery phase\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.\nU.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS\n\nThe U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.\nGDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019\n\nTwo key indicators\nLast quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.\nThe first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.\nWATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE\n\nThe second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.\nWATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER\n\nReopening trade still makes sense\nThe reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.\nThe rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.\nEmerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.\nThe resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.\nRisks: variants, inflation, China weakness\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.\nAnother watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.\nFinally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.\nRegional snapshotsUnited States\nThe U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&P 500® Index earnings-per-share already sit 20% above their previous cyclical high.\nStrong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.\nWage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.\nFiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be arisk-onpreference for equities over bonds for the medium-term.\nEurozone\nEuro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).\nThe MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.\nUnited Kingdom\nAs of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.\nThe FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.\nJapan\nThe Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.\nChina\nWe expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.\nCanada\nCanada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.\nTapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.\nAustralia/New Zealand\nThe Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.\nNew Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.\nAsset-class preferences\nOur cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.\nCOMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL\n\n\nWe prefernon-U.S. equitiesto U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.\nEmerging markets equitieshave been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.\nHigh yieldandinvestment grade creditare expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominatedemerging markets debtis close to fair value in spread terms and will gain support on U.S. dollar weakness.\nGovernment bondsare expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.\nReal assets: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.Commoditieshave been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.\nTheU.S. dollarhas been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be theeuro, which is still undervalued. We also believeBritish sterlingand the economically sensitivecommodity currencies—theAustralian dollar, theNew Zealand dollarand theCanadian dollar—can make further gains, although these currencies are not undervalued from a longer-term perspective.\n\nASSET PERFORMANCE SINCE THE BEGINNING OF 2021\n\n1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.\nImportant Information\nThe views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.\nPlease remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.\nKeep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.\nNo model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.\nForecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.\nInvestment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.\nCurrency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.\nInvestments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.\nBond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.\nPerformance quoted represents past performance and should not be viewed as a guarantee of future results.\nThe FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.\nThe S&P 500® Index, or the Standard & Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.\nThe MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.\nIndexes are unmanaged and cannot be invested in directly.\nCopyright © Russell Investments 2021. All rights reserved. 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Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1123,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860969800,"gmtCreate":1632122657100,"gmtModify":1632802698356,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/860969800","repostId":"1196172424","repostType":4,"isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":829295794,"gmtCreate":1633509742873,"gmtModify":1633509743834,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please thanks","listText":"Like please thanks","text":"Like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829295794","repostId":"1123518290","repostType":4,"isVote":1,"tweetType":1,"viewCount":1276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":889963203,"gmtCreate":1631104234702,"gmtModify":1631888310807,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889963203","repostId":"1152198957","repostType":4,"repost":{"id":"1152198957","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631101599,"share":"https://www.laohu8.com/m/news/1152198957?lang=&edition=full","pubTime":"2021-09-08 19:46","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1152198957","media":"Tiger Newspress","summary":"US futures were set for a third straight day of losses on Wednesday.\nCoinbase shares fall after comp","content":"<ul>\n <li>US futures were set for a third straight day of losses on Wednesday.</li>\n <li>Coinbase shares fall after company reveals SEC plans to sue.</li>\n <li>Amazon expands grab and go; Apple sets September event.</li>\n <li>Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.</li>\n</ul>\n<p>(Sept 8)&nbsp;World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&amp;P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&amp;P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup&nbsp;turned cautious&nbsp;on US equities.</p>\n<p>The S&amp;P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.</p>\n<p>At 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&amp;P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.</p>\n<p><img src=\"https://static.tigerbbs.com/cc04d49fecc926ac0b6c918d30547306\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p>Shares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a735311ccbdb64bf0c286f986875bd52\" tg-width=\"281\" tg-height=\"287\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/KDMN\">Kadmon</a></b> surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.</li>\n <li><b><a href=\"https://laohu8.com/S/CTXS\">Citrix</a> Systems</b>&nbsp;climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to&nbsp;boost its lagging stock price, according to people familiar with the matter.</li>\n <li><b><a href=\"https://laohu8.com/S/COTY\">Coty</a> </b>falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.</li>\n <li><b><a href=\"https://laohu8.com/S/IGC\">India Globalization Capital</a></b> jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.</li>\n</ul>\n<ul>\n <li>U.S.-traded shares of Chinese electric-car maker&nbsp;<b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.</li>\n <li><b><a href=\"https://laohu8.com/S/COUP\">Coupa Software Inc</a> </b>shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.</li>\n <li>Bitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a&nbsp;flash crash&nbsp;a day earlier erased billions of dollars in its value.&nbsp;<b><a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a></b> was sharing the pain, with its shares down 3.2% premarket.</li>\n <li>Earnings are due from executive recruiter&nbsp;Korn Ferry&nbsp;before the opening bell.</li>\n <li><b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> </b>nudged up 1% premarket. The payments processor&nbsp;agreed to buy Japanese&nbsp;“buy now, pay later” startup&nbsp;Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.</li>\n <li><b><a href=\"https://laohu8.com/S/SMAR\">Smartsheet</a> </b>dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.</li>\n <li><b><a href=\"https://laohu8.com/S/PATH\">UiPath</a>,</b>&nbsp;which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.</li>\n <li><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/7f98b61e1444bee35abb95dbe2470990\" tg-width=\"1127\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>GameStop,&nbsp;Lululemon Athletica&nbsp;and&nbsp;Avid Bioservices&nbsp;are due to report results after the close.</p>\n<p><b>In rates,</b> 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.</p>\n<p><b>In FX, </b>USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,<b>its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;</b>Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.</p>\n<p><b>Bitcoin</b> paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.</p>\n<p><b>In commodities, </b>crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.&nbsp; Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.</p>\n<p>Looking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nToplines Before US Market Open on Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-08 19:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>US futures were set for a third straight day of losses on Wednesday.</li>\n <li>Coinbase shares fall after company reveals SEC plans to sue.</li>\n <li>Amazon expands grab and go; Apple sets September event.</li>\n <li>Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.</li>\n</ul>\n<p>(Sept 8)&nbsp;World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&amp;P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&amp;P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup&nbsp;turned cautious&nbsp;on US equities.</p>\n<p>The S&amp;P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.</p>\n<p>At 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&amp;P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.</p>\n<p><img src=\"https://static.tigerbbs.com/cc04d49fecc926ac0b6c918d30547306\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p>Shares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a735311ccbdb64bf0c286f986875bd52\" tg-width=\"281\" tg-height=\"287\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/KDMN\">Kadmon</a></b> surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.</li>\n <li><b><a href=\"https://laohu8.com/S/CTXS\">Citrix</a> Systems</b>&nbsp;climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to&nbsp;boost its lagging stock price, according to people familiar with the matter.</li>\n <li><b><a href=\"https://laohu8.com/S/COTY\">Coty</a> </b>falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.</li>\n <li><b><a href=\"https://laohu8.com/S/IGC\">India Globalization Capital</a></b> jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.</li>\n</ul>\n<ul>\n <li>U.S.-traded shares of Chinese electric-car maker&nbsp;<b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.</li>\n <li><b><a href=\"https://laohu8.com/S/COUP\">Coupa Software Inc</a> </b>shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.</li>\n <li>Bitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a&nbsp;flash crash&nbsp;a day earlier erased billions of dollars in its value.&nbsp;<b><a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a></b> was sharing the pain, with its shares down 3.2% premarket.</li>\n <li>Earnings are due from executive recruiter&nbsp;Korn Ferry&nbsp;before the opening bell.</li>\n <li><b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> </b>nudged up 1% premarket. The payments processor&nbsp;agreed to buy Japanese&nbsp;“buy now, pay later” startup&nbsp;Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.</li>\n <li><b><a href=\"https://laohu8.com/S/SMAR\">Smartsheet</a> </b>dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.</li>\n <li><b><a href=\"https://laohu8.com/S/PATH\">UiPath</a>,</b>&nbsp;which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.</li>\n <li><b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/7f98b61e1444bee35abb95dbe2470990\" tg-width=\"1127\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>\n<p>GameStop,&nbsp;Lululemon Athletica&nbsp;and&nbsp;Avid Bioservices&nbsp;are due to report results after the close.</p>\n<p><b>In rates,</b> 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.</p>\n<p><b>In FX, </b>USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,<b>its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;</b>Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.</p>\n<p><b>Bitcoin</b> paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.</p>\n<p><b>In commodities, </b>crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.&nbsp; Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.</p>\n<p>Looking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152198957","content_text":"US futures were set for a third straight day of losses on Wednesday.\nCoinbase shares fall after company reveals SEC plans to sue.\nAmazon expands grab and go; Apple sets September event.\nBitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering.\n\n(Sept 8) World stocks receded from the previous session’s record highs, European stocks were headed for the biggest decline in almost three weeks and US futures were set for a third straight day of losses on Wednesday with the global growth outlook coming under increasing pressure while the dollar hit one-week highs and 10Y yields dipped as investors reduced exposure to riskier assets. S&P futures briefly fell 0.5%, tipping below 4,500 before, recovering losses after the S&P 500 fell 0.34% on Tuesday, while Dow futures were flat and Nasdaq emini futs were fractionally in the red as banks from Morgan Stanley to Citigroup turned cautious on US equities.\nThe S&P 500 and Dow Jones indexes closed lower on Tuesday, but the Nasdaq edged up to an all-time high after shares of Apple and Netflix hit record levels. US stocks have come under increasing pressure in recent days as investors have turned increasingly cautious following Friday’s weak August payrolls data and uncertainty over tapering.\nAt 7:50 a.m. ET, Dow E-minis were down 8 points, or 0.02%, S&P 500 E-minis fell 1.25 points, or 0.03% and Nasdaq 100 E-minis dipped 7.25 points, or 0.05%.\n\nShares of Microsoft Corp, Amazon.com Inc, Facebook Inc and Google-owner Alphabet Inc fell between 0.1% and 0.3% in premarket trading.\n\nStocks making the biggest moves premarket:\n\nKadmon surges 78% after Sanofi’s $1.9 billion cash acquisition of the U.S. biotech.\nCitrix Systems climbed 5.3% premarket. The Wall Street Journal reported that activist hedge fund Elliott Management has a more than $1 billion stake in the software company and wants it to take action to boost its lagging stock price, according to people familiar with the matter.\nCoty falls 6.8% after announcing the start to offer Class A stock by KKR Rainbow Aggregator LP.\nIndia Globalization Capital jumps 18% after the company says its cannabis-based drug for Alzheimer’s was safe and well tolerated in an early-stage clinical trial on 12 patients.\n\n\nU.S.-traded shares of Chinese electric-car maker NIO Inc. dropped 3% premarket. The company filed a prospectus with the SEC to sell up to $2 billion in American depository shares in an at-the-market offering, which seeks to price shares at the going market rate.\nCoupa Software Inc shares jumped 5.4% premarket after the company raised its financial targets for the year, topping analysts’ expectations.\nBitcoin edged lower early Wednesday, offering little respite to holders of the volatile cryptocurrency after a flash crash a day earlier erased billions of dollars in its value. Coinbase Global, Inc. was sharing the pain, with its shares down 3.2% premarket.\nEarnings are due from executive recruiter Korn Ferry before the opening bell.\nPayPal nudged up 1% premarket. The payments processor agreed to buy Japanese “buy now, pay later” startup Paidy for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.\nSmartsheet dropped 3.8% premarket after the business software provider’s earnings report showed a net loss, though its revenue increased. Keybanc nudged its price target for the stock higher, to $94 a share. The stock closed Tuesday at $82.74.\nUiPath, which provides accounts payable, claims processing and other services on its platform, dropped more than 8.6%. And while it beat Wall Street targets, it still registered a per-share loss.\nTesla Motors edged 1% higher after the China Passenger Car Association (CPCA) said the electric vehicle maker sold 44,264 China-made vehicles in August and reported a jump on local deliveries.\n\n\nGameStop, Lululemon Athletica and Avid Bioservices are due to report results after the close.\nIn rates, 10Y Yields fell to 1.3512% compared to a U.S. close of 1.371% on Tuesday, retreating from this week’s eight-week highs in a quiet session. Germany’s 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. Peripheral spreads widen a touch with the belly of the Italian curve widening ~1.5bps to Germany.\nIn FX, USD and haven currencies are modestly bid given the weakness in stocks. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. The Bloomberg dollar index trades near best levels for the week. CAD and SEK are the weakest in G-10. Turkish lira snaps through 8.40 to lag EMFX peers. The pound weakened for a third day,its longest losing streak in a month, ahead of a Parliament vote on a government tax package that seeks to trim a U.K. budget deficit swollen by pandemic spending;Bank of England Governor Andrew Bailey’s comments will also be in focus as he faces the Treasury Select Committee on Wednesday. The Australian dollar was the worst G-10 performer while Australia’s bonds opened lower following Treasuries and held losses through the day; New Zealand peers also declined following a solid milk auction. The yen touched its weakest level in almost a month before rebounding as risk sentiment soured.\nBitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,552, down 0.7%.\nIn commodities, crude futures pushed higher, returning toward Asia’s best levels. WTI jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Base metals were mixed: LME copper underperforms, snapping through $9,300/MT to trade down as much as 1.5%.  Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.\nLooking at the day ahead now, and data releases include US job openings and consumer credit for July, alongside Italian retail sales for July as well. From central banks, we’ll get the Bank of Canada’s latest rate decision, the Federal Reserve will be releasing their Beige Book, and speakers include the BoE’s Bailey, Broadbent, Ramsden and Tenreyro, and the Fed’s Williams and Kaplan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819170062,"gmtCreate":1630049506256,"gmtModify":1704955166598,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like thanks","listText":"Like thanks","text":"Like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819170062","repostId":"2162090400","repostType":4,"repost":{"id":"2162090400","kind":"highlight","pubTimestamp":1630026600,"share":"https://www.laohu8.com/m/news/2162090400?lang=&edition=full","pubTime":"2021-08-27 09:10","market":"us","language":"en","title":"1 Semiconductor Stock With Over 100% Upside, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2162090400","media":"Motley Fool","summary":"The company is already doing enough to warrant that level of share price growth, but it appears there's plenty more in store for investors.","content":"<p>The <b>S&amp;P 500</b> has officially doubled since hitting its pandemic low point in March 2020, capping off the strongest bull market in recent memory. As it keeps powering to new highs, you might be wondering if it's still possible to find a bargain.</p>\n<p>Good value can appear thanks to fundamental shifts in particular industries, favoring the companies that operate within them. <b>Cohu</b> (NASDAQ:COHU) is a great example -- it supplies crucial testing and handling equipment to the world's largest semiconductor producers, and amid the global chip shortage, it's reaping big rewards.</p>\n<p>Wall Street firm Rosenblatt Securities describes the semiconductor industry as being in the \"mother of all cycles,\" and its analyst thinks Cohu could rise over 100% from current levels.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5dbe60bba1bd475c4d06077962178a7d\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>An essential piece of the machine</h2>\n<p>The pandemic caused havoc for many global supply chains as manufacturing facilities were closed down for months at a time to curb COVID-19 outbreaks. The ripple effects are still being felt in the semiconductor industry as persistent supply shortages were met with simultaneous surges in demand.</p>\n<p>The automotive industry is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the main culprits. As our cars get smarter, they require more advanced computer chips to power the important sensors and digital features. Since many car manufacturers have been unable to secure sufficient supply of these key semiconductors, new car dealers are faced with almost empty car lots.</p>\n<p>Such a shortage can only mean higher prices for consumers and price distortions in other markets like used cars.</p>\n<p>But semiconductor service powerhouse Cohu has ramped up its business to help curb further negative impacts from the crippling shortages. It recently placed a particular focus on its Neon inspection system, which is a high-speed handler for chips as small as 0.2 mm by 0.4 mm. These are commonly used for automotive purposes, among other applications.</p>\n<p>In the fiscal second quarter, the automotive segment was actually Cohu's largest, representing 18% of total revenue. It was followed by the mobility segment (5G and wireless technologies) and the consumer segment (electronics and gaming applications).</p>\n<p>The increasing demand for Cohu's equipment prompted Rosenblatt Securities to initiate coverage on the stock earlier this year with a buy rating and a price target of $65 per share.</p>\n<h2>Strong financial performance</h2>\n<p>Rosenblatt expects Cohu to generate $1.92 in earnings per share in the current quarter, which is far higher than the analyst consensus of $0.69. It might be close to the mark since the company has returned to profitability this year with accelerating growth after spending the last few years investing in its business.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Fiscal 2018</p></th>\n   <th><p>Fiscal 2019</p></th>\n   <th><p>Fiscal 2020</p></th>\n   <th><p>Fiscal 2021(Estimate)</p></th>\n   <th><p>CAGR</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$451.8 million</p></td>\n   <td><p>$583.3 million</p></td>\n   <td><p>$636.0 million</p></td>\n   <td><p>$902.8 million</p></td>\n   <td><p>26%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings (loss) per share</p></td>\n   <td><p>($1.01)</p></td>\n   <td><p>($1.69)</p></td>\n   <td><p>($0.33)</p></td>\n   <td><p>$3.04</p></td>\n   <td><p>N/A</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Cohu. Estimates from Yahoo! Finance. CAGR = compound annual growth rate.</p>\n<p>With $903 million in revenue expected for fiscal 2021 and a current market capitalization of $1.56 billion, Cohu stock trades at just 1.7 times sales. But since it should be profitable this year, investors can apply a price-to-earnings multiple as well.</p>\n<p>With a share price of $31.74 as of this writing and estimated earnings of $3.04, that multiple is currently 10.4. Is that cheap? Well, the <b><a href=\"https://laohu8.com/S/EEME\">iShares</a> Semiconductor ETF</b> trades at 35 times earnings, which means when you compare Cohu to its peers in the semiconductor industry, it looks <i>extremely </i>attractive.</p>\n<p>But Cohu is on track to possibly exceed both revenue and earnings expectations this year based on first-half results.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021</p></th>\n   <th><p>Q2 2021</p></th>\n   <th><p>First Half 2021</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$225.5 million</p></td>\n   <td><p>$244.8 million</p></td>\n   <td><p>$470.3 million</p></td>\n  </tr>\n  <tr>\n   <td><p>Adjusted earnings per share</p></td>\n   <td><p>$0.89</p></td>\n   <td><p>$0.89</p></td>\n   <td><p>$1.79</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Cohu.</p>\n<p>The adjusted earnings per share above excludes one-time benefits from the sale of Cohu's printed circuit board test business, a small part of the overall company. If the effects of that sale are included, the earnings figures are even higher.</p>\n<h2>A triple-digit increase looks completely realistic</h2>\n<p>If Cohu reaches Rosenblatt's price target of $65, it would still only be trading at 21 times fiscal 2021 earnings. That's still a big discount to the <a href=\"https://laohu8.com/S/EGRW\">iShares</a> Semiconductor ETF and many of the industry's large producers.</p>\n<p>According to the Semiconductor Industry Association, global semiconductor sales are expected to grow 19.7% this year to over $527 billion. While sales are expected to slow to 8.8% in 2022, that might be indicative of persistent shortages, which many industry participants are currently warning will happen.</p>\n<p>If semiconductor sales are growing, then Cohu's unique testing and handling equipment will continue to be in high demand. And if supply constraints continue, many producers might seek to expand capacity further -- another win for Cohu.</p>\n<p>If there's a bargain to be had when the broader markets are near all time highs, this small-cap stock might be it.</p>","source":"fool_stock","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>1 Semiconductor Stock With Over 100% Upside, According to Wall Street</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n1 Semiconductor Stock With Over 100% Upside, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-27 09:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/26/1-semiconductor-stock-100-upside-says-wall-street/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 has officially doubled since hitting its pandemic low point in March 2020, capping off the strongest bull market in recent memory. As it keeps powering to new highs, you might be wondering...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/26/1-semiconductor-stock-100-upside-says-wall-street/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COHU":"科休半导体"},"source_url":"https://www.fool.com/investing/2021/08/26/1-semiconductor-stock-100-upside-says-wall-street/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162090400","content_text":"The S&P 500 has officially doubled since hitting its pandemic low point in March 2020, capping off the strongest bull market in recent memory. As it keeps powering to new highs, you might be wondering if it's still possible to find a bargain.\nGood value can appear thanks to fundamental shifts in particular industries, favoring the companies that operate within them. Cohu (NASDAQ:COHU) is a great example -- it supplies crucial testing and handling equipment to the world's largest semiconductor producers, and amid the global chip shortage, it's reaping big rewards.\nWall Street firm Rosenblatt Securities describes the semiconductor industry as being in the \"mother of all cycles,\" and its analyst thinks Cohu could rise over 100% from current levels.\nImage source: Getty Images.\nAn essential piece of the machine\nThe pandemic caused havoc for many global supply chains as manufacturing facilities were closed down for months at a time to curb COVID-19 outbreaks. The ripple effects are still being felt in the semiconductor industry as persistent supply shortages were met with simultaneous surges in demand.\nThe automotive industry is one of the main culprits. As our cars get smarter, they require more advanced computer chips to power the important sensors and digital features. Since many car manufacturers have been unable to secure sufficient supply of these key semiconductors, new car dealers are faced with almost empty car lots.\nSuch a shortage can only mean higher prices for consumers and price distortions in other markets like used cars.\nBut semiconductor service powerhouse Cohu has ramped up its business to help curb further negative impacts from the crippling shortages. It recently placed a particular focus on its Neon inspection system, which is a high-speed handler for chips as small as 0.2 mm by 0.4 mm. These are commonly used for automotive purposes, among other applications.\nIn the fiscal second quarter, the automotive segment was actually Cohu's largest, representing 18% of total revenue. It was followed by the mobility segment (5G and wireless technologies) and the consumer segment (electronics and gaming applications).\nThe increasing demand for Cohu's equipment prompted Rosenblatt Securities to initiate coverage on the stock earlier this year with a buy rating and a price target of $65 per share.\nStrong financial performance\nRosenblatt expects Cohu to generate $1.92 in earnings per share in the current quarter, which is far higher than the analyst consensus of $0.69. It might be close to the mark since the company has returned to profitability this year with accelerating growth after spending the last few years investing in its business.\n\n\n\nMetric\nFiscal 2018\nFiscal 2019\nFiscal 2020\nFiscal 2021(Estimate)\nCAGR\n\n\n\n\nRevenue\n$451.8 million\n$583.3 million\n$636.0 million\n$902.8 million\n26%\n\n\nEarnings (loss) per share\n($1.01)\n($1.69)\n($0.33)\n$3.04\nN/A\n\n\n\nData source: Cohu. Estimates from Yahoo! Finance. CAGR = compound annual growth rate.\nWith $903 million in revenue expected for fiscal 2021 and a current market capitalization of $1.56 billion, Cohu stock trades at just 1.7 times sales. But since it should be profitable this year, investors can apply a price-to-earnings multiple as well.\nWith a share price of $31.74 as of this writing and estimated earnings of $3.04, that multiple is currently 10.4. Is that cheap? Well, the iShares Semiconductor ETF trades at 35 times earnings, which means when you compare Cohu to its peers in the semiconductor industry, it looks extremely attractive.\nBut Cohu is on track to possibly exceed both revenue and earnings expectations this year based on first-half results.\n\n\n\nMetric\nQ1 2021\nQ2 2021\nFirst Half 2021\n\n\n\n\nRevenue\n$225.5 million\n$244.8 million\n$470.3 million\n\n\nAdjusted earnings per share\n$0.89\n$0.89\n$1.79\n\n\n\nData source: Cohu.\nThe adjusted earnings per share above excludes one-time benefits from the sale of Cohu's printed circuit board test business, a small part of the overall company. If the effects of that sale are included, the earnings figures are even higher.\nA triple-digit increase looks completely realistic\nIf Cohu reaches Rosenblatt's price target of $65, it would still only be trading at 21 times fiscal 2021 earnings. That's still a big discount to the iShares Semiconductor ETF and many of the industry's large producers.\nAccording to the Semiconductor Industry Association, global semiconductor sales are expected to grow 19.7% this year to over $527 billion. While sales are expected to slow to 8.8% in 2022, that might be indicative of persistent shortages, which many industry participants are currently warning will happen.\nIf semiconductor sales are growing, then Cohu's unique testing and handling equipment will continue to be in high demand. And if supply constraints continue, many producers might seek to expand capacity further -- another win for Cohu.\nIf there's a bargain to be had when the broader markets are near all time highs, this small-cap stock might be it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886214477,"gmtCreate":1631594271499,"gmtModify":1631888310803,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886214477","repostId":"2167843475","repostType":4,"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814653190,"gmtCreate":1630815232610,"gmtModify":1631888310810,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814653190","repostId":"1198049168","repostType":4,"repost":{"id":"1198049168","kind":"news","pubTimestamp":1630657800,"share":"https://www.laohu8.com/m/news/1198049168?lang=&edition=full","pubTime":"2021-09-03 16:30","market":"us","language":"en","title":"The Three Big Transitions Reshaping Finance","url":"https://stock-news.laohu8.com/highlight/detail?id=1198049168","media":"Barron's","summary":"About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and ","content":"<p><i>About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the U.S. Securities and Exchange Commission.</i></p>\n<p>Ever since Covid disrupted our lives, two themes have emerged.&nbsp;First, a feeling that we are living in an antechamber to a new and still-undefined era. And second, a pattern of hybrids, from homes converted into hybrid spaces of living/working/schooling, to expectations of a new office hybrid that will mix virtual and in-person meetings.</p>\n<p>But what about the world of finance and securities markets?&nbsp;There, too, we can find patterns of transition and hybrids.&nbsp;Consider three phenomena that began before Covid but have exploded in growth since then:&nbsp;digital assets, Robinhood, and SPACs.</p>\n<p>Start with the rise of cryptocurrencies, digital tokens and other such assets, which remain very much in a transitory stage (like the “Wild West,” SEC Chairman Gary Genslerrecently observed).&nbsp;Even as the crypto asset class has grown to an estimated $1.6 trillion, basic questions remain unanswered.&nbsp;Are digital tokens securities or commodities?&nbsp;Are decentralized finance platforms really securities exchanges?&nbsp;Are data miners and other digital service providers really broker-dealers?&nbsp;Should the SEC permit Bitcoin ETFs?&nbsp;And who should regulate these products, services and entities—the SEC, the CFTC, or banking regulators?</p>\n<p>Genslerhas calledon Congress to give the SEC “additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.” Specifically, he wants “additional plenary authority to write rules for and attach guardrails to crypto trading and lending.”&nbsp;And the U.S. House has passed a bill (H.R. 1602, the Eliminate Barriers to Innovation Act of 2021), which would require the SEC and CFTC to establish a working group on digital assets.</p>\n<p>Some of what passes as crypto innovations pretty clearly seems to be old-fashioned investment products dressed up in digital garb.&nbsp;That would include any stablecoins that function like money market funds and those tokens that fall within the definition of a security. Nonetheless, there is no denying that crypto mixes digital technology with traditional forms of finance in a hybrid of innovation.</p>\n<p>Second, consider Robinhood, which has exploded into view along with Redditor-fueled moonshot trades in meme stocks.&nbsp;Its proclaimedmission“to democratize finance for all” may invite skepticism, but the company can make a strong claim to having attracted a surge of first-time retail investors, representing a younger and more ethnically diverse customer base.&nbsp;Powering that success is Robinhood’s sleek mobile app—and its arsenal of gamification tools to entice and engage customers.&nbsp;But do the nudges and gamification tools cross the line into the realm of investment advice?</p>\n<p>“Once individuals become customers, Robinhood relentlessly bombards them with a number of strategies designed to encourage and incentivize continuous and repeated engagement with this application,” the Massachusetts state securities regulator alleges in alawsuitagainst Robinhood.&nbsp;The complaint points to several such techniques, from celebrating customer trades with confetti (a practice Robinhood has since abandoned) to plying customers with lists of most-traded and most-popular securities on its platform.</p>\n<p>Should practices like these be subject to the fiduciary standard of an investment adviser?&nbsp;Or to the new Best Interest standard for broker-dealers?&nbsp;Robinhood hascalledthe regulator elitist and says it isn’t making recommendations. Whatever the outcome of the lawsuit, these gamification techniques make Robinhood appear different in kind from the (boring?) practices of traditional broker-dealers that merely execute customers’ trades.&nbsp;The gamification of mobile trading apps may represent a hybrid between standard broker-dealer practices and full-fledged investment advice.</p>\n<p>Third, consider SPACs, which have been around since 2003 but have exploded in popularity in the Covid era.&nbsp;In a hugely successful marketing campaign, SPACs have presented themselves as a kind of poor man’s private equity.&nbsp;If true, that would make SPACs a hybrid between private investment opportunities and public markets.</p>\n<p>The deSPAC merger—the key event in the life of a SPAC—is also a hybrid.&nbsp;This is when the SPAC merges with a private operating company, allowing the target to become a public company without going through an IPO.&nbsp;Or is the merger itself really an IPO?</p>\n<p>That’s precisely the question raised by John Coates, a Harvard Law professor who has become a top SEC official.&nbsp;In a provocativespeechon April 8, Coates argued that the deSPAC merger is an initial public offering, because it is the first time the private operating company is introduced to the public.&nbsp;One speech, however, does not make SEC policy. And Coates’ theory remains untested in court. Nonetheless, it suggests how the deSPAC merger can be considered a hybrid between traditional forms of IPO and merger transactions.</p>\n<p>At a House Financial Services subcommitteehearingon May 24, Michael San Nicolas, Guam’s delegate, asked how a SPAC differed from a closed-end equity (mutual) fund.&nbsp;The question may have seemed arcane at the time, but in retrospect it appears to have foreshadowed a series of blockbuster lawsuits against SPACs.&nbsp;Former SEC Commissioner Robert J. Jackson, Jr. and Yale Law Professor John Morley have joined in alawsuitagainst Bill Ackman’s SPAC,Pershing Square Tontine Holdings Ltd.&nbsp;(ticker: PSTH), which raised $4 billion to become the single largest SPAC, and followed up with suits against two other SPACs,GO Acquisition Corp.and E.Merge Technology.&nbsp;The suits allege that the SPACs are really investment companies, like mutual funds and ETFs, because they invest in securities while searching for a merger partner.</p>\n<p>“Under the [Investment Company Act of 1940], an Investment Company is an entity whose primary business is investing in securities,” the lawsuit against PSTH argues.&nbsp;“And investing in securities is basically the only thing that PSTH has ever done.”</p>\n<p>Ackmansaysthe suit against his SPAC is meritless, but warns, “Because the basic issues raised here apply to every SPAC, a successful claim would imply that every SPAC may also be an illegal investment company.”&nbsp;The suit suggests one more way that SPACs could be considered a hybrid—a cross between an investment company (like a mutual fund) and a publicly traded company.</p>\n<p>One wonders how we will look back on these market developments a decade from now.&nbsp;Will SPACs, cryptoassets, and mobile trading apps be seen as hybrids that emerged in the antechamber we are living in now?</p>\n<p></p>\n<p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Three Big Transitions Reshaping Finance</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Three Big Transitions Reshaping Finance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 16:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the...</p>\n\n<a href=\"https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/the-three-big-transitions-reshaping-finance-51630526645?mod=hp_COMMENTARY_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198049168","content_text":"About the author: Stephen Deane, a chartered financial analyst, is senior director, legislative and regulatory outreach, at the CFA Institute. He joined the institute after more than nine years at the U.S. Securities and Exchange Commission.\nEver since Covid disrupted our lives, two themes have emerged. First, a feeling that we are living in an antechamber to a new and still-undefined era. And second, a pattern of hybrids, from homes converted into hybrid spaces of living/working/schooling, to expectations of a new office hybrid that will mix virtual and in-person meetings.\nBut what about the world of finance and securities markets? There, too, we can find patterns of transition and hybrids. Consider three phenomena that began before Covid but have exploded in growth since then: digital assets, Robinhood, and SPACs.\nStart with the rise of cryptocurrencies, digital tokens and other such assets, which remain very much in a transitory stage (like the “Wild West,” SEC Chairman Gary Genslerrecently observed). Even as the crypto asset class has grown to an estimated $1.6 trillion, basic questions remain unanswered. Are digital tokens securities or commodities? Are decentralized finance platforms really securities exchanges? Are data miners and other digital service providers really broker-dealers? Should the SEC permit Bitcoin ETFs? And who should regulate these products, services and entities—the SEC, the CFTC, or banking regulators?\nGenslerhas calledon Congress to give the SEC “additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.” Specifically, he wants “additional plenary authority to write rules for and attach guardrails to crypto trading and lending.” And the U.S. House has passed a bill (H.R. 1602, the Eliminate Barriers to Innovation Act of 2021), which would require the SEC and CFTC to establish a working group on digital assets.\nSome of what passes as crypto innovations pretty clearly seems to be old-fashioned investment products dressed up in digital garb. That would include any stablecoins that function like money market funds and those tokens that fall within the definition of a security. Nonetheless, there is no denying that crypto mixes digital technology with traditional forms of finance in a hybrid of innovation.\nSecond, consider Robinhood, which has exploded into view along with Redditor-fueled moonshot trades in meme stocks. Its proclaimedmission“to democratize finance for all” may invite skepticism, but the company can make a strong claim to having attracted a surge of first-time retail investors, representing a younger and more ethnically diverse customer base. Powering that success is Robinhood’s sleek mobile app—and its arsenal of gamification tools to entice and engage customers. But do the nudges and gamification tools cross the line into the realm of investment advice?\n“Once individuals become customers, Robinhood relentlessly bombards them with a number of strategies designed to encourage and incentivize continuous and repeated engagement with this application,” the Massachusetts state securities regulator alleges in alawsuitagainst Robinhood. The complaint points to several such techniques, from celebrating customer trades with confetti (a practice Robinhood has since abandoned) to plying customers with lists of most-traded and most-popular securities on its platform.\nShould practices like these be subject to the fiduciary standard of an investment adviser? Or to the new Best Interest standard for broker-dealers? Robinhood hascalledthe regulator elitist and says it isn’t making recommendations. Whatever the outcome of the lawsuit, these gamification techniques make Robinhood appear different in kind from the (boring?) practices of traditional broker-dealers that merely execute customers’ trades. The gamification of mobile trading apps may represent a hybrid between standard broker-dealer practices and full-fledged investment advice.\nThird, consider SPACs, which have been around since 2003 but have exploded in popularity in the Covid era. In a hugely successful marketing campaign, SPACs have presented themselves as a kind of poor man’s private equity. If true, that would make SPACs a hybrid between private investment opportunities and public markets.\nThe deSPAC merger—the key event in the life of a SPAC—is also a hybrid. This is when the SPAC merges with a private operating company, allowing the target to become a public company without going through an IPO. Or is the merger itself really an IPO?\nThat’s precisely the question raised by John Coates, a Harvard Law professor who has become a top SEC official. In a provocativespeechon April 8, Coates argued that the deSPAC merger is an initial public offering, because it is the first time the private operating company is introduced to the public. One speech, however, does not make SEC policy. And Coates’ theory remains untested in court. Nonetheless, it suggests how the deSPAC merger can be considered a hybrid between traditional forms of IPO and merger transactions.\nAt a House Financial Services subcommitteehearingon May 24, Michael San Nicolas, Guam’s delegate, asked how a SPAC differed from a closed-end equity (mutual) fund. The question may have seemed arcane at the time, but in retrospect it appears to have foreshadowed a series of blockbuster lawsuits against SPACs. Former SEC Commissioner Robert J. Jackson, Jr. and Yale Law Professor John Morley have joined in alawsuitagainst Bill Ackman’s SPAC,Pershing Square Tontine Holdings Ltd. (ticker: PSTH), which raised $4 billion to become the single largest SPAC, and followed up with suits against two other SPACs,GO Acquisition Corp.and E.Merge Technology. The suits allege that the SPACs are really investment companies, like mutual funds and ETFs, because they invest in securities while searching for a merger partner.\n“Under the [Investment Company Act of 1940], an Investment Company is an entity whose primary business is investing in securities,” the lawsuit against PSTH argues. “And investing in securities is basically the only thing that PSTH has ever done.”\nAckmansaysthe suit against his SPAC is meritless, but warns, “Because the basic issues raised here apply to every SPAC, a successful claim would imply that every SPAC may also be an illegal investment company.” The suit suggests one more way that SPACs could be considered a hybrid—a cross between an investment company (like a mutual fund) and a publicly traded company.\nOne wonders how we will look back on these market developments a decade from now. Will SPACs, cryptoassets, and mobile trading apps be seen as hybrids that emerged in the antechamber we are living in now?","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898634289,"gmtCreate":1628491683541,"gmtModify":1631893485817,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898634289","repostId":"1184000657","repostType":4,"isVote":1,"tweetType":1,"viewCount":173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891912217,"gmtCreate":1628316631139,"gmtModify":1631893485821,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/891912217","repostId":"1119792130","repostType":4,"isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805406505,"gmtCreate":1627895781907,"gmtModify":1631893485826,"author":{"id":"3581317711527033","authorId":"3581317711527033","name":"Chanelyap","avatar":"https://static.tigerbbs.com/ead5a4e57e2f9f018e7802a33c0a28f5","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581317711527033","authorIdStr":"3581317711527033"},"themes":[],"htmlText":"Nice and like please","listText":"Nice and like please","text":"Nice and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805406505","repostId":"1193646270","repostType":4,"repost":{"id":"1193646270","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627891794,"share":"https://www.laohu8.com/m/news/1193646270?lang=&edition=full","pubTime":"2021-08-02 16:09","market":"us","language":"en","title":"NIO delivered 7,931 vehicles in July 2021, and rose 1% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1193646270","media":"Tiger Newspress","summary":" $NIO Inc.$ delivered 7,931 vehicles in July 2021, representing a strong 124.5% year-over-year growth. The deliveries consisted of 1,702 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,669 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,560 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of July 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 125,528 vehicles.","content":"<p>(August&nbsp;2)&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> delivered 7,931 vehicles in July 2021, representing a strong 124.5% year-over-year growth. The deliveries consisted of 1,702 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,669 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,560 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of July 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 125,528 vehicles.</p>\n<p>NIO rose about 1% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/29ee37756815b9785621385b00cfc549\" tg-width=\"629\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO delivered 7,931 vehicles in July 2021, and rose 1% in premarket trading</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nNIO delivered 7,931 vehicles in July 2021, and rose 1% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-02 16:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(August&nbsp;2)&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> delivered 7,931 vehicles in July 2021, representing a strong 124.5% year-over-year growth. The deliveries consisted of 1,702 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,669 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,560 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of July 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 125,528 vehicles.</p>\n<p>NIO rose about 1% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/29ee37756815b9785621385b00cfc549\" tg-width=\"629\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193646270","content_text":"(August 2) NIO Inc. delivered 7,931 vehicles in July 2021, representing a strong 124.5% year-over-year growth. The deliveries consisted of 1,702 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,669 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,560 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of July 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 125,528 vehicles.\nNIO rose about 1% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}