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2021-12-14

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2021-11-09

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2021-11-09

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2021-09-30

$Corsair Gaming, Inc.(CRSR)$wooooooooooaaaw

2021-09-30

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2021-09-30

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2021 Global Market Outlook - Q4 Update: Growing Pains

2021-09-29

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2021-09-29

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Wall Street swoons on rising Treasury yields, growing inflation worries

2021-09-28

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2021-09-28

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2021-09-28

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2021-09-27

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2021-09-27

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Debt ceiling debates in Congress, consumer confidence: What to know this week

2021-09-22

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2021-09-22

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Wall Street ends near flat on cautious note ahead of Fed

2021-09-21

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2021-09-21

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Toplines Before US Market Open on Tuesday

2021-09-16

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2021-09-16

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2021-09-16

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3 Long-Term Investments You'll Thank Yourself for Later

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Inc.(CRSR)$woooooooooaaaaaw","images":[{"img":"https://static.tigerbbs.com/84ddca2a2530be24f54a3484cca3a9b3","width":"1080","height":"2559"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865655089","isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":865652089,"gmtCreate":1632979734121,"gmtModify":1632979735440,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaaaaw","listText":"woooooooaaaaw","text":"woooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865652089","repostId":"1104172212","repostType":4,"repost":{"id":"1104172212","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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"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":893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862225665,"gmtCreate":1632883394953,"gmtModify":1632883395280,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$woooooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/681d5035030b27b0c3b8291f20ccc7ec","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862225665","isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":862226243,"gmtCreate":1632883263239,"gmtModify":1632883263611,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooooaaaw","listText":"woooooooooaaaw","text":"woooooooooaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862226243","repostId":"1179744266","repostType":4,"repost":{"id":"1179744266","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":1632859283,"share":"https://www.laohu8.com/m/news/1179744266?lang=&edition=full","pubTime":"2021-09-29 04:01","market":"us","language":"en","title":"Wall Street swoons on rising Treasury yields, growing inflation worries","url":"https://stock-news.laohu8.com/highlight/detail?id=1179744266","media":"Reuters","summary":"S&P 500's worst day since May, Nasdaq's worst since March\nFord rises on $11.4 bln investment with SK","content":"<ul>\n <li>S&amp;P 500's worst day since May, Nasdaq's worst since March</li>\n <li>Ford rises on $11.4 bln investment with SK Innovation</li>\n <li>Indexes drop: Dow 1.63%, S&amp;P 2.04%, Nasdaq 2.83% (Updates with closing prices)</li>\n</ul>\n<p>NEW YORK, Sept 28 (Reuters) - Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington.</p>\n<p>All three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite.</p>\n<p>It was the S&amp;P 500 index's biggest one-day percentage drop since May, and the Nasdaq's largest since March.</p>\n<p>The S&amp;P 500 and the Nasdaq Composite index were on track for their largest monthly declines since September 2020.</p>\n<p>\"The big picture is the sudden surge in the past week of yields, which has led to a 'sell first, ask questions later' mentality,\" Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p>\n<p>\"(But) there are multiple factors weighing on sentiment today,\" Detrick added. \"The back-and-forth in Washington with the debt ceiling and the spending bill and potential higher taxes have weighed on overall investor psyche and has led to a pretty good sized sell-off.\"</p>\n<p>The benchmark index was also setting a course for its weakest quarterly performance since the COVID pandemic brought the global economy to its knees.</p>\n<p>Weakness pervaded across most asset classes, including gold, suggesting widespread risk-off sentiment.</p>\n<p>U.S. Treasury yields continued rising, with 10-year yields reaching their highest level since June, as inflation expectations heated up and fears grew that the U.S. Federal Reserve could shorten its timeline for tightening its monetary policy.</p>\n<p>Treasury Secretary Janet Yellen said she expected inflation to end 2021 near 4% and warned lawmakers their failure to avert a government shutdown as the nation moves closer to exhausting its borrowing capabilities could cause \"serious harm\" to the economy.</p>\n<p>Senate Republicans appeared set to strike down Democrats' efforts to extend the government's borrowing authority and avoid a potential U.S. credit default.</p>\n<p>A Conference Board report showed consumer confidence weakened unexpectedly in September to the lowest level since February.</p>\n<p>The Dow Jones Industrial Average fell 569.38 points, or 1.63%, to 34,299.99; the S&amp;P 500 lost 90.48 points, or 2.04%, at 4,352.63; and the Nasdaq Composite dropped 423.29 points, or 2.83%, to 14,546.68.</p>\n<p>Half of the S&amp;P 500's components closed 10% or more below their 52-week highs. That included 63 stocks that had fallen 20% or more.</p>\n<p>Among the 11 major sectors of the S&amp;P 500, all but energy ended red, with tech and communications services suffering the steepest percentage losses.</p>\n<p>Communications services shed 2.8%, the sector's biggest one-day percentage decline since January. The S&amp;P growth index closed at its lowest since July and posted its biggest one-day percentage drop since February.</p>\n<p>Microsoft Corp, Apple Inc, Amazon.com Inc and Alphabet Inc weighed heaviest on the S&amp;P and Nasdaq, falling between 2.4% and 3.6%.</p>\n<p>Ford Motor Co was one of the few bright spots, advancing 1.1% on news that it would join Korean battery partner SK Innovation to invest $11.4 billion to build an electric F-150 assembly plant and three U.S. battery plants.</p>\n<p>Declining issues outnumbered gainers on the NYSE by a 4.35-to-1 ratio; on Nasdaq, a 4.52-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 17 new 52-week highs and five new lows; the Nasdaq Composite recorded 54 new highs and 120 new lows.</p>\n<p>Volume on U.S. exchanges was 12.27 billion shares, compared with the 10.37 billion average over the last 20 trading days.</p>\n<p>(Reporting by Stephen Culp; Additional reporting by Noel Randewich and Sinead Carew in New York and Devik Jain in Bengaluru; Editing by Richard Chang)</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 swoons on rising Treasury yields, growing inflation worries</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; 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}\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 swoons on rising Treasury yields, growing inflation worries\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\">2021-09-29 04:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>S&amp;P 500's worst day since May, Nasdaq's worst since March</li>\n <li>Ford rises on $11.4 bln investment with SK Innovation</li>\n <li>Indexes drop: Dow 1.63%, S&amp;P 2.04%, Nasdaq 2.83% (Updates with closing prices)</li>\n</ul>\n<p>NEW YORK, Sept 28 (Reuters) - Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington.</p>\n<p>All three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite.</p>\n<p>It was the S&amp;P 500 index's biggest one-day percentage drop since May, and the Nasdaq's largest since March.</p>\n<p>The S&amp;P 500 and the Nasdaq Composite index were on track for their largest monthly declines since September 2020.</p>\n<p>\"The big picture is the sudden surge in the past week of yields, which has led to a 'sell first, ask questions later' mentality,\" Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p>\n<p>\"(But) there are multiple factors weighing on sentiment today,\" Detrick added. \"The back-and-forth in Washington with the debt ceiling and the spending bill and potential higher taxes have weighed on overall investor psyche and has led to a pretty good sized sell-off.\"</p>\n<p>The benchmark index was also setting a course for its weakest quarterly performance since the COVID pandemic brought the global economy to its knees.</p>\n<p>Weakness pervaded across most asset classes, including gold, suggesting widespread risk-off sentiment.</p>\n<p>U.S. Treasury yields continued rising, with 10-year yields reaching their highest level since June, as inflation expectations heated up and fears grew that the U.S. Federal Reserve could shorten its timeline for tightening its monetary policy.</p>\n<p>Treasury Secretary Janet Yellen said she expected inflation to end 2021 near 4% and warned lawmakers their failure to avert a government shutdown as the nation moves closer to exhausting its borrowing capabilities could cause \"serious harm\" to the economy.</p>\n<p>Senate Republicans appeared set to strike down Democrats' efforts to extend the government's borrowing authority and avoid a potential U.S. credit default.</p>\n<p>A Conference Board report showed consumer confidence weakened unexpectedly in September to the lowest level since February.</p>\n<p>The Dow Jones Industrial Average fell 569.38 points, or 1.63%, to 34,299.99; the S&amp;P 500 lost 90.48 points, or 2.04%, at 4,352.63; and the Nasdaq Composite dropped 423.29 points, or 2.83%, to 14,546.68.</p>\n<p>Half of the S&amp;P 500's components closed 10% or more below their 52-week highs. That included 63 stocks that had fallen 20% or more.</p>\n<p>Among the 11 major sectors of the S&amp;P 500, all but energy ended red, with tech and communications services suffering the steepest percentage losses.</p>\n<p>Communications services shed 2.8%, the sector's biggest one-day percentage decline since January. The S&amp;P growth index closed at its lowest since July and posted its biggest one-day percentage drop since February.</p>\n<p>Microsoft Corp, Apple Inc, Amazon.com Inc and Alphabet Inc weighed heaviest on the S&amp;P and Nasdaq, falling between 2.4% and 3.6%.</p>\n<p>Ford Motor Co was one of the few bright spots, advancing 1.1% on news that it would join Korean battery partner SK Innovation to invest $11.4 billion to build an electric F-150 assembly plant and three U.S. battery plants.</p>\n<p>Declining issues outnumbered gainers on the NYSE by a 4.35-to-1 ratio; on Nasdaq, a 4.52-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 17 new 52-week highs and five new lows; the Nasdaq Composite recorded 54 new highs and 120 new lows.</p>\n<p>Volume on U.S. exchanges was 12.27 billion shares, compared with the 10.37 billion average over the last 20 trading days.</p>\n<p>(Reporting by Stephen Culp; Additional reporting by Noel Randewich and Sinead Carew in New York and Devik Jain in Bengaluru; Editing by Richard Chang)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179744266","content_text":"S&P 500's worst day since May, Nasdaq's worst since March\nFord rises on $11.4 bln investment with SK Innovation\nIndexes drop: Dow 1.63%, S&P 2.04%, Nasdaq 2.83% (Updates with closing prices)\n\nNEW YORK, Sept 28 (Reuters) - Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington.\nAll three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite.\nIt was the S&P 500 index's biggest one-day percentage drop since May, and the Nasdaq's largest since March.\nThe S&P 500 and the Nasdaq Composite index were on track for their largest monthly declines since September 2020.\n\"The big picture is the sudden surge in the past week of yields, which has led to a 'sell first, ask questions later' mentality,\" Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.\n\"(But) there are multiple factors weighing on sentiment today,\" Detrick added. \"The back-and-forth in Washington with the debt ceiling and the spending bill and potential higher taxes have weighed on overall investor psyche and has led to a pretty good sized sell-off.\"\nThe benchmark index was also setting a course for its weakest quarterly performance since the COVID pandemic brought the global economy to its knees.\nWeakness pervaded across most asset classes, including gold, suggesting widespread risk-off sentiment.\nU.S. Treasury yields continued rising, with 10-year yields reaching their highest level since June, as inflation expectations heated up and fears grew that the U.S. Federal Reserve could shorten its timeline for tightening its monetary policy.\nTreasury Secretary Janet Yellen said she expected inflation to end 2021 near 4% and warned lawmakers their failure to avert a government shutdown as the nation moves closer to exhausting its borrowing capabilities could cause \"serious harm\" to the economy.\nSenate Republicans appeared set to strike down Democrats' efforts to extend the government's borrowing authority and avoid a potential U.S. credit default.\nA Conference Board report showed consumer confidence weakened unexpectedly in September to the lowest level since February.\nThe Dow Jones Industrial Average fell 569.38 points, or 1.63%, to 34,299.99; the S&P 500 lost 90.48 points, or 2.04%, at 4,352.63; and the Nasdaq Composite dropped 423.29 points, or 2.83%, to 14,546.68.\nHalf of the S&P 500's components closed 10% or more below their 52-week highs. That included 63 stocks that had fallen 20% or more.\nAmong the 11 major sectors of the S&P 500, all but energy ended red, with tech and communications services suffering the steepest percentage losses.\nCommunications services shed 2.8%, the sector's biggest one-day percentage decline since January. The S&P growth index closed at its lowest since July and posted its biggest one-day percentage drop since February.\nMicrosoft Corp, Apple Inc, Amazon.com Inc and Alphabet Inc weighed heaviest on the S&P and Nasdaq, falling between 2.4% and 3.6%.\nFord Motor Co was one of the few bright spots, advancing 1.1% on news that it would join Korean battery partner SK Innovation to invest $11.4 billion to build an electric F-150 assembly plant and three U.S. battery plants.\nDeclining issues outnumbered gainers on the NYSE by a 4.35-to-1 ratio; on Nasdaq, a 4.52-to-1 ratio favored decliners.\nThe S&P 500 posted 17 new 52-week highs and five new lows; the Nasdaq Composite recorded 54 new highs and 120 new lows.\nVolume on U.S. exchanges was 12.27 billion shares, compared with the 10.37 billion average over the last 20 trading days.\n(Reporting by Stephen Culp; Additional reporting by Noel Randewich and Sinead Carew in New York and Devik Jain in Bengaluru; Editing by Richard Chang)","news_type":1},"isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866582293,"gmtCreate":1632790989812,"gmtModify":1632797581835,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$wooooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/af0b9c8ebde04ca4f3f185172fbdd031","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866582293","isVote":1,"tweetType":1,"viewCount":844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":866582888,"gmtCreate":1632790969244,"gmtModify":1632797581880,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$wooooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/495f5170ec883586d2dba43754da283e","width":"1080","height":"2559"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866582888","isVote":1,"tweetType":1,"viewCount":785,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":866586351,"gmtCreate":1632790885773,"gmtModify":1632797582065,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaw","listText":"wooooooaaaw","text":"wooooooaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866586351","repostId":"1199853438","repostType":4,"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866076461,"gmtCreate":1632716746153,"gmtModify":1632798331832,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$wooooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/aea8c0845659a501eae99ebbe1ee58b7","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866076461","isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":866078655,"gmtCreate":1632716615077,"gmtModify":1632798333179,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaw","listText":"woooooooaw","text":"woooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866078655","repostId":"2170488786","repostType":4,"repost":{"id":"2170488786","pubTimestamp":1632685409,"share":"https://www.laohu8.com/m/news/2170488786?lang=&edition=full","pubTime":"2021-09-27 03:43","market":"other","language":"en","title":"Debt ceiling debates in Congress, consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2170488786","media":"Yahoo Finance","summary":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race t","content":"<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.</p>\n<p>The Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.</p>\n<p>The latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.</p>\n<p>Senate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.</p>\n<p>\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.</p>\n<p>Democratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.</p>\n<p>\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.</p>\n<p>Federal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.</p>\n<p>\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no <a href=\"https://laohu8.com/S/AONE.U\">one</a> should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"</p>\n<p><img src=\"https://static.tigerbbs.com/76c6a59b9c059b09d9267c8298e0b837\" referrerpolicy=\"no-referrer\">A dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS</p>\n<p>Amid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.</p>\n<p>Though leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.</p>\n<p>\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"</p>\n<p>\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.</p>\n<p>Investors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.</p>\n<p>Many strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.</p>\n<p>\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"</p>\n<p>\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"</p>\n<p>Historical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.</p>\n<p>\"In the 14 government shutdowns since 1980, the S&amp;P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.</p>\n<p>\"One notable exception was the most recent federal shutdown in December 2018, when the S&amp;P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"</p>\n<p>Kostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.</p>\n<h3>Consumer confidence</h3>\n<p>On the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.</p>\n<p>The Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.</p>\n<p>Specifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.</p>\n<p>\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"</p>\n<p>At the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"</p>\n<p>The latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.</p>\n<h3>Economic calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)</p></li>\n <li><p><b>Tuesday: </b>Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&amp;P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)</p></li>\n <li><p><b>Thursday: </b>Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)</p></li>\n <li><p><b>Friday: </b>Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)</p></li>\n</ul>\n<h3>Earnings calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Aurora Cannabis (ACB) after market close</p></li>\n <li><p><b>Tuesday: </b>Micron Technology (MU) after market close.</p></li>\n <li><p><b>Wednesday: </b><i>No notable reports scheduled for release</i></p></li>\n <li><p><b>Thursday: </b>CarMax (KMX), Bed Bath &amp; Beyond (BBBY) before market open; Jefferies (JEF) after market close</p></li>\n <li><p><b>Friday: </b><i>No notable reports scheduled for releas</i></p></li>\n</ul>","source":"yahoofinance_au","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>Debt ceiling debates in Congress, consumer confidence: What to know 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; 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}\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\">\nDebt ceiling debates in Congress, consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-27 03:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7e749e88d2580d292ffc6ae18d03b65","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust"},"source_url":"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170488786","content_text":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.\nThe Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.\nThe latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.\nSenate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.\n\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.\nDemocratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.\n\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.\nFederal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.\n\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no one should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"\nA dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS\nAmid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.\nThough leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.\n\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"\n\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.\nInvestors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.\nMany strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.\n\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"\n\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"\nHistorical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.\n\"In the 14 government shutdowns since 1980, the S&P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.\n\"One notable exception was the most recent federal shutdown in December 2018, when the S&P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"\nKostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.\nConsumer confidence\nOn the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.\nThe Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.\nSpecifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.\n\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"\nAt the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"\nThe latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.\nEconomic calendar\n\nMonday: Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)\nTuesday: Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)\nWednesday: MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)\nThursday: Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)\nFriday: Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); Markit manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)\n\nEarnings calendar\n\nMonday: Aurora Cannabis (ACB) after market close\nTuesday: Micron Technology (MU) after market close.\nWednesday: No notable reports scheduled for release\nThursday: CarMax (KMX), Bed Bath & Beyond (BBBY) before market open; Jefferies (JEF) after market close\nFriday: No notable reports scheduled for releas","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":869648758,"gmtCreate":1632285443674,"gmtModify":1632801485819,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$woooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/d46b33dfe3f6c720b330b5377c6bb9ec","width":"1080","height":"2559"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/869648758","isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":869643714,"gmtCreate":1632285257038,"gmtModify":1632801487683,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaaaaw","listText":"woooooooaaaaw","text":"woooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/869643714","repostId":"2169324976","repostType":4,"repost":{"id":"2169324976","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":1632256994,"share":"https://www.laohu8.com/m/news/2169324976?lang=&edition=full","pubTime":"2021-09-22 04:43","market":"us","language":"en","title":"Wall Street ends near flat on cautious note ahead of Fed","url":"https://stock-news.laohu8.com/highlight/detail?id=2169324976","media":"Reuters","summary":"NEW YORK, Sept 21  - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.Trading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.Shares of Walt Disney Co fell 4.2% and were the biggest drag on both the S&P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta var","content":"<p>NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over&nbsp;caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.</p>\n<p>Trading was choppy, with the Dow and S&amp;P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.</p>\n<p>Shares of Walt Disney Co&nbsp;fell 4.2% and were the biggest drag on both the S&amp;P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles.</p>\n<p>Investors are waiting for the end of this week's Fed meeting that may shed light on when its massive purchase of government debt will begin to ease.</p>\n<p>Officials will reveal new projections as investors also are on alert for any timing on rate tightening.</p>\n<p>The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&amp;P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.</p>\n<p>S&amp;P 500 industrials&nbsp;led losses among sectors.</p>\n<p>Adding to late-day bearishness, shares of American Airlines Group Inc&nbsp;and JetBlue Airways Corp&nbsp;fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. American Airlines ended down 2.8% while JetBlue fell 4.8%.</p>\n<p>The S&amp;P 500 index traded below its 50-day moving average, its first major breach in more than six months. The average has served as a floor for the index this year.</p>\n<p>Analysts say a breach of the index's 200-day moving average may now be in sight.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted no new 52-week highs and six new lows; the Nasdaq Composite recorded 41 new highs and 98 new lows.</p>\n<p>Volume on U.S. exchanges was 9.73 billion shares, compared with the 9.95 billion average for the full session over the last 20 trading days.</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 ends near flat on cautious note ahead of Fed</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; 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}\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 ends near flat on cautious note ahead of Fed\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\">2021-09-22 04:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over&nbsp;caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.</p>\n<p>Trading was choppy, with the Dow and S&amp;P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.</p>\n<p>Shares of Walt Disney Co&nbsp;fell 4.2% and were the biggest drag on both the S&amp;P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles.</p>\n<p>Investors are waiting for the end of this week's Fed meeting that may shed light on when its massive purchase of government debt will begin to ease.</p>\n<p>Officials will reveal new projections as investors also are on alert for any timing on rate tightening.</p>\n<p>The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&amp;P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.</p>\n<p>S&amp;P 500 industrials&nbsp;led losses among sectors.</p>\n<p>Adding to late-day bearishness, shares of American Airlines Group Inc&nbsp;and JetBlue Airways Corp&nbsp;fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. American Airlines ended down 2.8% while JetBlue fell 4.8%.</p>\n<p>The S&amp;P 500 index traded below its 50-day moving average, its first major breach in more than six months. The average has served as a floor for the index this year.</p>\n<p>Analysts say a breach of the index's 200-day moving average may now be in sight.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted no new 52-week highs and six new lows; the Nasdaq Composite recorded 41 new highs and 98 new lows.</p>\n<p>Volume on U.S. exchanges was 9.73 billion shares, compared with the 9.95 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF","QID":"纳指两倍做空ETF",".DJI":"道琼斯","IVV":"标普500指数ETF",".IXIC":"NASDAQ Composite","SSO":"两倍做多标普500ETF",".SPX":"S&P 500 Index","OEX":"标普100","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","DXD":"道指两倍做空ETF","QLD":"纳指两倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","PSQ":"纳指反向ETF","SPY":"标普500ETF","DJX":"1/100道琼斯","SDOW":"道指三倍做空ETF-ProShares","DDM":"道指两倍做多ETF","SDS":"两倍做空标普500ETF","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","DOG":"道指反向ETF","UPRO":"三倍做多标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169324976","content_text":"NEW YORK, Sept 21 (Reuters) - U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.\nTrading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.\nShares of Walt Disney Co fell 4.2% and were the biggest drag on both the S&P 500 and Dow after Chief Executive Officer Bob Chapek said the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles.\nInvestors are waiting for the end of this week's Fed meeting that may shed light on when its massive purchase of government debt will begin to ease.\nOfficials will reveal new projections as investors also are on alert for any timing on rate tightening.\nThe Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.\nS&P 500 industrials led losses among sectors.\nAdding to late-day bearishness, shares of American Airlines Group Inc and JetBlue Airways Corp fell after records in Boston federal court showed the United States and several U.S. states on Tuesday filed an antitrust lawsuit against the companies. American Airlines ended down 2.8% while JetBlue fell 4.8%.\nThe S&P 500 index traded below its 50-day moving average, its first major breach in more than six months. The average has served as a floor for the index this year.\nAnalysts say a breach of the index's 200-day moving average may now be in sight.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.\nThe S&P 500 posted no new 52-week highs and six new lows; the Nasdaq Composite recorded 41 new highs and 98 new lows.\nVolume on U.S. exchanges was 9.73 billion shares, compared with the 9.95 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869030954,"gmtCreate":1632225657278,"gmtModify":1632801970527,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>wooooooooaaaaw","text":"$Corsair Gaming, Inc.(CRSR)$wooooooooaaaaw","images":[{"img":"https://static.tigerbbs.com/7d2243287bb92c52fd8cc26a4904051c","width":"1080","height":"2559"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869030954","isVote":1,"tweetType":1,"viewCount":123,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":869097621,"gmtCreate":1632225551463,"gmtModify":1632801971144,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaaaw","listText":"wooooooaaaaaw","text":"wooooooaaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869097621","repostId":"1152381132","repostType":4,"repost":{"id":"1152381132","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":1632223927,"share":"https://www.laohu8.com/m/news/1152381132?lang=&edition=full","pubTime":"2021-09-21 19:32","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1152381132","media":"Tiger Newspress","summary":"U.S. stock futures are up.\nOil ends days of losses.\nKey central bank meetings this week in US, Brita","content":"<ul>\n <li>U.S. stock futures are up.</li>\n <li>Oil ends days of losses.</li>\n <li>Key central bank meetings this week in US, Britain, Japan.</li>\n</ul>\n<p>(Sept 21)&nbsp;U.S. stock futures are up,&nbsp;suggesting markets are poised to rebound&nbsp;a day after concerns about China’s property sector helped fuel a global selloff in stocks and commodities.</p>\n<p>At 7:37 a.m. ET, Dow e-minis were up 259 points, or 0.77%, S&amp;P 500 e-minis gained 31.25 points, or 0.72%, and Nasdaq 100 e-minis jumped 109&nbsp;points, or 0.73%.</p>\n<p><img src=\"https://static.tigerbbs.com/7fffdf1b0c371cce64957069d1ca4fc9\" tg-width=\"1235\" tg-height=\"515\" referrerpolicy=\"no-referrer\">Vix's decline has narrowed, and VIX is currently down by 9.33%.</p>\n<p><img src=\"https://static.tigerbbs.com/0b75218effa7b005d0ef2ecef92e270e\" tg-width=\"1110\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><b>What to Watch When the Stock Market Opens Today:</b></p>\n<ul>\n <li>U.S.-listed Chinese stocks start to recover from Monday’s slump in&nbsp;premarket&nbsp;trading as the global selloff moderates. Alibaba (BABA US), Baidu (BIDU US), Nio (NIO US), Tencent Music (TME US)and Bilibili (BILI US) are among the gainers.</li>\n <li><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies&nbsp;rose 3.9% before the bell. The ride-hailing firm said it expects toreach a measure of profitability in the current quarter, months earlier than previously expected.</li>\n <li>Uber’s riva&nbsp;lLyft&nbsp;added 1.9% in premarket trading.</li>\n <li><a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>&nbsp;shares edged up 0.9% after the lender said it had agreed to buy MUFG Union Bank, which operates about 300 branches mainly on the <a href=\"https://laohu8.com/S/WSTC\">West</a> Coast, for about $8 billion.</li>\n <li><a href=\"https://laohu8.com/S/LEN\">Lennar</a> .&nbsp;fell more than 3% in premarket trading. The homebuilder said its third-quarter earnings were hurt by supply-chain challenges that show no sign of easing.</li>\n <li><a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>&nbsp;ticked up 1% after the oil-and-gas company said it hadagreed to buy all of <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Dutch Shell’s assets in the Permian Basinfor about $9.5 billion in cash. Shell investors cheered the deal: U.S.-listed shares jumped almost 5%.</li>\n <li><a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleum,&nbsp;<a href=\"https://laohu8.com/S/DVN\">Devon</a> EnergyDVN-5.40%andPhillips 66PSX-2.65%rose in premarket trading as oil prices rallied and theenergy sector looked set to rebound from a broad selloff.</li>\n <li><a href=\"https://laohu8.com/S/DOW\">Dow Chemical</a> gained more than 3%. Shares of the chemicals giant have been on a downtrend since June. Chief Executive Jim Fitterling told The Wall Street Journal last month he wants to knowhow Congress plans to pay for a proposed move to zero-carbon emission electricity.</li>\n <li><a href=\"https://laohu8.com/S/VRCA\">Verrica Pharmaceuticals Inc.</a> plunges 30% in&nbsp;premarket&nbsp;trading after failing to get FDA approval for VP-102 for the treatment of molluscum contagiosum</li>\n <li><a href=\"https://laohu8.com/S/RWLK\">ReWalk Robotics</a> shares jump 43% in U.S.&nbsp;premarket&nbsp;trading amid a spike in volume in the stock. Being discussed on StockTwits.</li>\n <li><a href=\"https://laohu8.com/S/APRE\">Aprea Therapeutics, Inc.</a> gains 21% in U.S.&nbsp;premarket&nbsp;trading after the company reported complete remission in a bladder cancer patient in Phase 1/2 clinical trial of eprenetapopt in combination with pembrolizumab.</li>\n <li><a href=\"https://laohu8.com/S/SDC\">SmileDirectClub, Inc.</a> slightly higher in&nbsp;premarket&nbsp;trading after it said on Monday that it plans to enter France with an initial location in Paris.</li>\n <li><a href=\"https://laohu8.com/S/KAR\">KAR Auction</a> shares fell 4.6% in post-market trading on Monday after the company withdrew is full-year financial outlook citing disruption caused by chip shortage.</li>\n <li><a href=\"https://laohu8.com/S/SRAD\">Sportradar Group AG</a> shares jumped 4.5% in Monday postmarket trading, after the company said basketball legend Michael Jordan will serve as a special adviser to its board and also increase his investment in the sports betting and entertainment services provider, effective immediately.</li>\n <li><a href=\"https://laohu8.com/S/OEG\">Orbital Energy Group</a> gained 6% postmarket Monday after a unit won a contract &nbsp;to construct 1,910 miles of rural broadband network in Virginia. Terms were not disclosed.</li>\n</ul>\n<p><b>Bitcoin</b> prices stabilized after tumbling on Monday,when investors ditched riskier and speculative assets.</p>\n<p><b>In FX, </b>the Bloomberg Dollar Spot Index inched lower and the greenback fell versus most of its Group-of-10 peers as a selloff in global stocks over the past two sessions abated; the euro hovered while commodity currencies led by the Norwegian krone were the best performers amid an advance in crude oil prices. Sweden’s krona was little changed after the Riksbank steered clear of signaling any post-pandemic tightening, as it remains unconvinced that a recent surge in inflation will last. The pound bucked a three-day losing streak as global risk appetite revived, while investors look to Thursday’s Bank of England meeting for policy clues. The yen erased earlier gains as signs that risk appetite is stabilizing damped demand for haven assets. At the same time, losses were capped due to uncertainty over China’s handling of the Evergrande debt crisis.</p>\n<p><b>In rates, </b>Treasuries were lower, although off worst levels of the day as U.S. stock futures recover around half of Monday’s losses while European equities trade with a strong bid tone. Yields are cheaper by up to 2.5bp across long-end of the curve, steepening 5s30s spread by 1.2bp;<b>10-year yields around 1.3226%,</b>cheaper by 1.5bp on the day, lagging bunds and gilts by 1bp-2bp. The long-end of the curve lags ahead of $24b 20-year bond reopening. Treasury will auction $24b 20-year bonds in first reopening at 1pm ET; WI yield ~1.82% is below auction stops since January and ~3bp richer than last month’s new-issue result</p>\n<p><b>In commodities, </b>crude futures rose, with the front month WTI up 1.5% near $71.50. Brent stalls near $75. Spot gold trades a narrow range near $1,765/oz. Base metals are mostly in the green with LME aluminum the best performer</p>\n<p>Looking at the day ahead now, and data releases include US housing starts and building permits for August, along with the UK public finances for September. From central banks, we’ll hear from ECB Vice President de Guindos. Otherwise, the General Debate will begin at the UN General Assembly, and the OECD publishes their Interim Economic Outlook.</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 Tuesday</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 Tuesday\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\">2021-09-21 19:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. stock futures are up.</li>\n <li>Oil ends days of losses.</li>\n <li>Key central bank meetings this week in US, Britain, Japan.</li>\n</ul>\n<p>(Sept 21)&nbsp;U.S. stock futures are up,&nbsp;suggesting markets are poised to rebound&nbsp;a day after concerns about China’s property sector helped fuel a global selloff in stocks and commodities.</p>\n<p>At 7:37 a.m. ET, Dow e-minis were up 259 points, or 0.77%, S&amp;P 500 e-minis gained 31.25 points, or 0.72%, and Nasdaq 100 e-minis jumped 109&nbsp;points, or 0.73%.</p>\n<p><img src=\"https://static.tigerbbs.com/7fffdf1b0c371cce64957069d1ca4fc9\" tg-width=\"1235\" tg-height=\"515\" referrerpolicy=\"no-referrer\">Vix's decline has narrowed, and VIX is currently down by 9.33%.</p>\n<p><img src=\"https://static.tigerbbs.com/0b75218effa7b005d0ef2ecef92e270e\" tg-width=\"1110\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><b>What to Watch When the Stock Market Opens Today:</b></p>\n<ul>\n <li>U.S.-listed Chinese stocks start to recover from Monday’s slump in&nbsp;premarket&nbsp;trading as the global selloff moderates. Alibaba (BABA US), Baidu (BIDU US), Nio (NIO US), Tencent Music (TME US)and Bilibili (BILI US) are among the gainers.</li>\n <li><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies&nbsp;rose 3.9% before the bell. The ride-hailing firm said it expects toreach a measure of profitability in the current quarter, months earlier than previously expected.</li>\n <li>Uber’s riva&nbsp;lLyft&nbsp;added 1.9% in premarket trading.</li>\n <li><a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>&nbsp;shares edged up 0.9% after the lender said it had agreed to buy MUFG Union Bank, which operates about 300 branches mainly on the <a href=\"https://laohu8.com/S/WSTC\">West</a> Coast, for about $8 billion.</li>\n <li><a href=\"https://laohu8.com/S/LEN\">Lennar</a> .&nbsp;fell more than 3% in premarket trading. The homebuilder said its third-quarter earnings were hurt by supply-chain challenges that show no sign of easing.</li>\n <li><a href=\"https://laohu8.com/S/COP\">ConocoPhillips</a>&nbsp;ticked up 1% after the oil-and-gas company said it hadagreed to buy all of <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Dutch Shell’s assets in the Permian Basinfor about $9.5 billion in cash. Shell investors cheered the deal: U.S.-listed shares jumped almost 5%.</li>\n <li><a href=\"https://laohu8.com/S/OXY\">Occidental</a> Petroleum,&nbsp;<a href=\"https://laohu8.com/S/DVN\">Devon</a> EnergyDVN-5.40%andPhillips 66PSX-2.65%rose in premarket trading as oil prices rallied and theenergy sector looked set to rebound from a broad selloff.</li>\n <li><a href=\"https://laohu8.com/S/DOW\">Dow Chemical</a> gained more than 3%. Shares of the chemicals giant have been on a downtrend since June. Chief Executive Jim Fitterling told The Wall Street Journal last month he wants to knowhow Congress plans to pay for a proposed move to zero-carbon emission electricity.</li>\n <li><a href=\"https://laohu8.com/S/VRCA\">Verrica Pharmaceuticals Inc.</a> plunges 30% in&nbsp;premarket&nbsp;trading after failing to get FDA approval for VP-102 for the treatment of molluscum contagiosum</li>\n <li><a href=\"https://laohu8.com/S/RWLK\">ReWalk Robotics</a> shares jump 43% in U.S.&nbsp;premarket&nbsp;trading amid a spike in volume in the stock. Being discussed on StockTwits.</li>\n <li><a href=\"https://laohu8.com/S/APRE\">Aprea Therapeutics, Inc.</a> gains 21% in U.S.&nbsp;premarket&nbsp;trading after the company reported complete remission in a bladder cancer patient in Phase 1/2 clinical trial of eprenetapopt in combination with pembrolizumab.</li>\n <li><a href=\"https://laohu8.com/S/SDC\">SmileDirectClub, Inc.</a> slightly higher in&nbsp;premarket&nbsp;trading after it said on Monday that it plans to enter France with an initial location in Paris.</li>\n <li><a href=\"https://laohu8.com/S/KAR\">KAR Auction</a> shares fell 4.6% in post-market trading on Monday after the company withdrew is full-year financial outlook citing disruption caused by chip shortage.</li>\n <li><a href=\"https://laohu8.com/S/SRAD\">Sportradar Group AG</a> shares jumped 4.5% in Monday postmarket trading, after the company said basketball legend Michael Jordan will serve as a special adviser to its board and also increase his investment in the sports betting and entertainment services provider, effective immediately.</li>\n <li><a href=\"https://laohu8.com/S/OEG\">Orbital Energy Group</a> gained 6% postmarket Monday after a unit won a contract &nbsp;to construct 1,910 miles of rural broadband network in Virginia. Terms were not disclosed.</li>\n</ul>\n<p><b>Bitcoin</b> prices stabilized after tumbling on Monday,when investors ditched riskier and speculative assets.</p>\n<p><b>In FX, </b>the Bloomberg Dollar Spot Index inched lower and the greenback fell versus most of its Group-of-10 peers as a selloff in global stocks over the past two sessions abated; the euro hovered while commodity currencies led by the Norwegian krone were the best performers amid an advance in crude oil prices. Sweden’s krona was little changed after the Riksbank steered clear of signaling any post-pandemic tightening, as it remains unconvinced that a recent surge in inflation will last. The pound bucked a three-day losing streak as global risk appetite revived, while investors look to Thursday’s Bank of England meeting for policy clues. The yen erased earlier gains as signs that risk appetite is stabilizing damped demand for haven assets. At the same time, losses were capped due to uncertainty over China’s handling of the Evergrande debt crisis.</p>\n<p><b>In rates, </b>Treasuries were lower, although off worst levels of the day as U.S. stock futures recover around half of Monday’s losses while European equities trade with a strong bid tone. Yields are cheaper by up to 2.5bp across long-end of the curve, steepening 5s30s spread by 1.2bp;<b>10-year yields around 1.3226%,</b>cheaper by 1.5bp on the day, lagging bunds and gilts by 1bp-2bp. The long-end of the curve lags ahead of $24b 20-year bond reopening. Treasury will auction $24b 20-year bonds in first reopening at 1pm ET; WI yield ~1.82% is below auction stops since January and ~3bp richer than last month’s new-issue result</p>\n<p><b>In commodities, </b>crude futures rose, with the front month WTI up 1.5% near $71.50. Brent stalls near $75. Spot gold trades a narrow range near $1,765/oz. Base metals are mostly in the green with LME aluminum the best performer</p>\n<p>Looking at the day ahead now, and data releases include US housing starts and building permits for August, along with the UK public finances for September. From central banks, we’ll hear from ECB Vice President de Guindos. Otherwise, the General Debate will begin at the UN General Assembly, and the OECD publishes their Interim Economic Outlook.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","USB":"美国合众银行",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152381132","content_text":"U.S. stock futures are up.\nOil ends days of losses.\nKey central bank meetings this week in US, Britain, Japan.\n\n(Sept 21) U.S. stock futures are up, suggesting markets are poised to rebound a day after concerns about China’s property sector helped fuel a global selloff in stocks and commodities.\nAt 7:37 a.m. ET, Dow e-minis were up 259 points, or 0.77%, S&P 500 e-minis gained 31.25 points, or 0.72%, and Nasdaq 100 e-minis jumped 109 points, or 0.73%.\nVix's decline has narrowed, and VIX is currently down by 9.33%.\nWhat to Watch When the Stock Market Opens Today:\n\nU.S.-listed Chinese stocks start to recover from Monday’s slump in premarket trading as the global selloff moderates. Alibaba (BABA US), Baidu (BIDU US), Nio (NIO US), Tencent Music (TME US)and Bilibili (BILI US) are among the gainers.\nUber Technologies rose 3.9% before the bell. The ride-hailing firm said it expects toreach a measure of profitability in the current quarter, months earlier than previously expected.\nUber’s riva lLyft added 1.9% in premarket trading.\nU.S. Bancorp shares edged up 0.9% after the lender said it had agreed to buy MUFG Union Bank, which operates about 300 branches mainly on the West Coast, for about $8 billion.\nLennar . fell more than 3% in premarket trading. The homebuilder said its third-quarter earnings were hurt by supply-chain challenges that show no sign of easing.\nConocoPhillips ticked up 1% after the oil-and-gas company said it hadagreed to buy all of Royal Dutch Shell’s assets in the Permian Basinfor about $9.5 billion in cash. Shell investors cheered the deal: U.S.-listed shares jumped almost 5%.\nOccidental Petroleum, Devon EnergyDVN-5.40%andPhillips 66PSX-2.65%rose in premarket trading as oil prices rallied and theenergy sector looked set to rebound from a broad selloff.\nDow Chemical gained more than 3%. Shares of the chemicals giant have been on a downtrend since June. Chief Executive Jim Fitterling told The Wall Street Journal last month he wants to knowhow Congress plans to pay for a proposed move to zero-carbon emission electricity.\nVerrica Pharmaceuticals Inc. plunges 30% in premarket trading after failing to get FDA approval for VP-102 for the treatment of molluscum contagiosum\nReWalk Robotics shares jump 43% in U.S. premarket trading amid a spike in volume in the stock. Being discussed on StockTwits.\nAprea Therapeutics, Inc. gains 21% in U.S. premarket trading after the company reported complete remission in a bladder cancer patient in Phase 1/2 clinical trial of eprenetapopt in combination with pembrolizumab.\nSmileDirectClub, Inc. slightly higher in premarket trading after it said on Monday that it plans to enter France with an initial location in Paris.\nKAR Auction shares fell 4.6% in post-market trading on Monday after the company withdrew is full-year financial outlook citing disruption caused by chip shortage.\nSportradar Group AG shares jumped 4.5% in Monday postmarket trading, after the company said basketball legend Michael Jordan will serve as a special adviser to its board and also increase his investment in the sports betting and entertainment services provider, effective immediately.\nOrbital Energy Group gained 6% postmarket Monday after a unit won a contract  to construct 1,910 miles of rural broadband network in Virginia. Terms were not disclosed.\n\nBitcoin prices stabilized after tumbling on Monday,when investors ditched riskier and speculative assets.\nIn FX, the Bloomberg Dollar Spot Index inched lower and the greenback fell versus most of its Group-of-10 peers as a selloff in global stocks over the past two sessions abated; the euro hovered while commodity currencies led by the Norwegian krone were the best performers amid an advance in crude oil prices. Sweden’s krona was little changed after the Riksbank steered clear of signaling any post-pandemic tightening, as it remains unconvinced that a recent surge in inflation will last. The pound bucked a three-day losing streak as global risk appetite revived, while investors look to Thursday’s Bank of England meeting for policy clues. The yen erased earlier gains as signs that risk appetite is stabilizing damped demand for haven assets. At the same time, losses were capped due to uncertainty over China’s handling of the Evergrande debt crisis.\nIn rates, Treasuries were lower, although off worst levels of the day as U.S. stock futures recover around half of Monday’s losses while European equities trade with a strong bid tone. Yields are cheaper by up to 2.5bp across long-end of the curve, steepening 5s30s spread by 1.2bp;10-year yields around 1.3226%,cheaper by 1.5bp on the day, lagging bunds and gilts by 1bp-2bp. The long-end of the curve lags ahead of $24b 20-year bond reopening. Treasury will auction $24b 20-year bonds in first reopening at 1pm ET; WI yield ~1.82% is below auction stops since January and ~3bp richer than last month’s new-issue result\nIn commodities, crude futures rose, with the front month WTI up 1.5% near $71.50. Brent stalls near $75. Spot gold trades a narrow range near $1,765/oz. Base metals are mostly in the green with LME aluminum the best performer\nLooking at the day ahead now, and data releases include US housing starts and building permits for August, along with the UK public finances for September. From central banks, we’ll hear from ECB Vice President de Guindos. Otherwise, the General Debate will begin at the UN General Assembly, and the OECD publishes their Interim Economic Outlook.","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885203012,"gmtCreate":1631793686236,"gmtModify":1631886269214,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaw","text":"$Corsair Gaming, Inc.(CRSR)$woooooooooaw","images":[{"img":"https://static.tigerbbs.com/a9daddd8cc5e4aed85035e474b2ecc09","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885203012","isVote":1,"tweetType":1,"viewCount":61,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":885209863,"gmtCreate":1631793523152,"gmtModify":1631886269217,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaaaw","listText":"<a href=\"https://laohu8.com/S/CRSR\">$Corsair Gaming, Inc.(CRSR)$</a>woooooooooaaaw","text":"$Corsair Gaming, Inc.(CRSR)$woooooooooaaaw","images":[{"img":"https://static.tigerbbs.com/95dd05e2e4d0dcffcecab404408151da","width":"1080","height":"2559"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885209863","isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":885200463,"gmtCreate":1631793353852,"gmtModify":1631890037535,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooooaaaaw","listText":"wooooooooaaaaw","text":"wooooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885200463","repostId":"2167351025","repostType":4,"repost":{"id":"2167351025","pubTimestamp":1631793049,"share":"https://www.laohu8.com/m/news/2167351025?lang=&edition=full","pubTime":"2021-09-16 19:50","market":"us","language":"en","title":"3 Long-Term Investments You'll Thank Yourself for Later","url":"https://stock-news.laohu8.com/highlight/detail?id=2167351025","media":"Motley Fool","summary":"Sometimes the best thing you can do for your portfolio is just leave some of its holdings alone... for years at a time.","content":"<p>Got patience? Plenty of people like to think they're committed to their holdings for the long haul. When things get dicey, though, a sizable swath of this crowd bails out of these investments.</p>\n<p>That can be a big mistake, of course. Most people struggle to see the market's true short-term highs and lows, meaning they get out (or in) at less than ideal times. Often, the best decision you can make is deciding to do nothing at all, taking your lumps on faith those beaten-down stocks will eventually recover.</p>\n<p>With that as the backdrop, here's a closer look at three long-term investments you can actually commit to for the long term. Each <a href=\"https://laohu8.com/S/AONE.U\">one</a> is built not only to last, but to thrive no matter what the future has in store.</p>\n<h2>1. Alphabet</h2>\n<p>Sure, it's technically a consumer tech name, and technology is generally prone to being made obsolete by, well, newer technologies. If there were ever a tech name shielded from the never-ending cycle of improved tech, though, it's likely Google parent<b> Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL).</p>\n<p>Think about it. While there was a time when consumers clearly functioned without either one, the internet and smartphones have become de facto centerpieces of our lives. Chances are, we're not going to give them up now. And Alphabet is the powerhouse on both fronts, with Google fielding 92% of the world's web searches (according to numbers from GlobalStats' statcounter) and its Android mobile operating system installed on nearly 73% of the world's mobile devices. In fact, when broadening this look to all consumer tech devices like notebooks and tablets, there are more Android-powered devices than there are machines running <b>Microsoft</b> Windows.</p>\n<p>This reach of course positions Google as a gatekeeper to the world wide web, giving Alphabet a variety of ways to monetize all of its platforms.</p>\n<p>And it's done so quite well. The company's year-over-year revenue comparison has fallen in only two quarters since 2006, and one of those quarters was the second quarter of last year when the COVID-19 pandemic was rapidly spreading. In fact, we've also only seen the company's quarterly top line fall twice on a sequential basis -- from the previous calendar quarter -- for the same time frame, and again, one of those two instances was linked to COVID-19. It's all due to consumers' habitual reliance on Google and/or their Android devices.</p>\n<h2>2. Walt Disney</h2>\n<p>Entertainment giant <b>Walt Disney</b> (NYSE:DIS) is nowhere near as consistent as Alphabet when it comes to driving revenue; the pandemic was downright devastating to the company. Nevertheless, Disney is a long-term winner -- not because it does one thing incredibly well, but because it can do a variety of things incredibly well when one piece of its business is struggling.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F643205%2Folder-investors.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<p>You likely know all about Disney's theme parks and movies. You've also heard plenty of late about their streaming platform, Disney+. What you may not realize, however, is how minor those ventures are compared to the company's other lower-profile operations.</p>\n<p>Before COVID-19 rattled the world beginning in early 2020, television -- Disney, ESPN, and ABC -- collectively accounted for roughly one-third of Walt Disney's revenue, parks and resorts along with licensed product sales made up another third of its top line, films were 16% of its business mix, and its direct-to-consumer and international arm (think Hulu and ESPN+) contributed 13% of its top line. With the pandemic still crimping some segments of the entertainment industry and after the launch of Disney+, direct-to-consumer alone now makes up nearly one-third of the company's top line, while other divisions now contribute relatively less revenue.</p>\n<p>But that's the point. Walt Disney's always got something to sell to someone; oftentimes it's got several products and services to offer to the same consumers. It may not be completely recession-proof, but it's certainly recession-resistant, and it's also able to capture more than its fair share of growth stemming from a strong economy.</p>\n<h2>3. SPDR S&amp;P 500 ETF Trust</h2>\n<p>Finally, add the <b>SPDR S&amp;P 500 ETF Trust</b> (NYSEMKT:SPY) to your list of long-term investments you'll be glad you tucked away.</p>\n<p>Unlike Walt Disney and Alphabet, owning an index-based fund isn't an attempt to outperform the market. It's just an attempt to match the market's overall performance; in some ways it's also an admission that, given enough time, you probably can't beat the market.</p>\n<p>Statistically speaking though, that's not a bad bet.</p>\n<p>Data from Standard &amp; Poor's tells the story, pointing out that measuring results from the end of the year 2000 and the end of 2020, around 94% of actively managed mutual funds available to U.S. investors didn't perform as well as the <b>S&amp;P 500 Index</b> (SNPINDEX:^GSPC). The results are similarly bad when you look at shorter time frames.</p>\n<p>Why can't many of these professional fund managers do what they're presumably trained and paid to do even when they're giving it a full-time effort? Because timing trade entries and exits is hard to do well. That doesn't prevent these folks from attempting it in their hunt for market-beating results, however.</p>\n<p>It's possible you could have better luck. In fact, the whole purpose of highlighting Alphabet and Walt Disney is that these two names have the potential to outpace the broad market's gains.</p>\n<p>Both of those individual stock picks still require long-term holding periods to make the most of their potential, though. So the best thing to do is likely to just leave them alone as long as you can, and round them out with an index-based ETF you can also truly commit to for the long haul.</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>3 Long-Term Investments You'll Thank Yourself for Later</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\">\n3 Long-Term Investments You'll Thank Yourself for Later\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-16 19:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/16/3-long-term-investments-youll-thank-yourself-for-l/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Got patience? Plenty of people like to think they're committed to their holdings for the long haul. When things get dicey, though, a sizable swath of this crowd bails out of these investments.\nThat ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/16/3-long-term-investments-youll-thank-yourself-for-l/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","SPY":"标普500ETF","GOOGL":"谷歌A","DIS":"迪士尼"},"source_url":"https://www.fool.com/investing/2021/09/16/3-long-term-investments-youll-thank-yourself-for-l/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167351025","content_text":"Got patience? Plenty of people like to think they're committed to their holdings for the long haul. When things get dicey, though, a sizable swath of this crowd bails out of these investments.\nThat can be a big mistake, of course. Most people struggle to see the market's true short-term highs and lows, meaning they get out (or in) at less than ideal times. Often, the best decision you can make is deciding to do nothing at all, taking your lumps on faith those beaten-down stocks will eventually recover.\nWith that as the backdrop, here's a closer look at three long-term investments you can actually commit to for the long term. Each one is built not only to last, but to thrive no matter what the future has in store.\n1. Alphabet\nSure, it's technically a consumer tech name, and technology is generally prone to being made obsolete by, well, newer technologies. If there were ever a tech name shielded from the never-ending cycle of improved tech, though, it's likely Google parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL).\nThink about it. While there was a time when consumers clearly functioned without either one, the internet and smartphones have become de facto centerpieces of our lives. Chances are, we're not going to give them up now. And Alphabet is the powerhouse on both fronts, with Google fielding 92% of the world's web searches (according to numbers from GlobalStats' statcounter) and its Android mobile operating system installed on nearly 73% of the world's mobile devices. In fact, when broadening this look to all consumer tech devices like notebooks and tablets, there are more Android-powered devices than there are machines running Microsoft Windows.\nThis reach of course positions Google as a gatekeeper to the world wide web, giving Alphabet a variety of ways to monetize all of its platforms.\nAnd it's done so quite well. The company's year-over-year revenue comparison has fallen in only two quarters since 2006, and one of those quarters was the second quarter of last year when the COVID-19 pandemic was rapidly spreading. In fact, we've also only seen the company's quarterly top line fall twice on a sequential basis -- from the previous calendar quarter -- for the same time frame, and again, one of those two instances was linked to COVID-19. It's all due to consumers' habitual reliance on Google and/or their Android devices.\n2. Walt Disney\nEntertainment giant Walt Disney (NYSE:DIS) is nowhere near as consistent as Alphabet when it comes to driving revenue; the pandemic was downright devastating to the company. Nevertheless, Disney is a long-term winner -- not because it does one thing incredibly well, but because it can do a variety of things incredibly well when one piece of its business is struggling.\nImage source: Getty Images.\nYou likely know all about Disney's theme parks and movies. You've also heard plenty of late about their streaming platform, Disney+. What you may not realize, however, is how minor those ventures are compared to the company's other lower-profile operations.\nBefore COVID-19 rattled the world beginning in early 2020, television -- Disney, ESPN, and ABC -- collectively accounted for roughly one-third of Walt Disney's revenue, parks and resorts along with licensed product sales made up another third of its top line, films were 16% of its business mix, and its direct-to-consumer and international arm (think Hulu and ESPN+) contributed 13% of its top line. With the pandemic still crimping some segments of the entertainment industry and after the launch of Disney+, direct-to-consumer alone now makes up nearly one-third of the company's top line, while other divisions now contribute relatively less revenue.\nBut that's the point. Walt Disney's always got something to sell to someone; oftentimes it's got several products and services to offer to the same consumers. It may not be completely recession-proof, but it's certainly recession-resistant, and it's also able to capture more than its fair share of growth stemming from a strong economy.\n3. SPDR S&P 500 ETF Trust\nFinally, add the SPDR S&P 500 ETF Trust (NYSEMKT:SPY) to your list of long-term investments you'll be glad you tucked away.\nUnlike Walt Disney and Alphabet, owning an index-based fund isn't an attempt to outperform the market. It's just an attempt to match the market's overall performance; in some ways it's also an admission that, given enough time, you probably can't beat the market.\nStatistically speaking though, that's not a bad bet.\nData from Standard & Poor's tells the story, pointing out that measuring results from the end of the year 2000 and the end of 2020, around 94% of actively managed mutual funds available to U.S. investors didn't perform as well as the S&P 500 Index (SNPINDEX:^GSPC). The results are similarly bad when you look at shorter time frames.\nWhy can't many of these professional fund managers do what they're presumably trained and paid to do even when they're giving it a full-time effort? Because timing trade entries and exits is hard to do well. That doesn't prevent these folks from attempting it in their hunt for market-beating results, however.\nIt's possible you could have better luck. In fact, the whole purpose of highlighting Alphabet and Walt Disney is that these two names have the potential to outpace the broad market's gains.\nBoth of those individual stock picks still require long-term holding periods to make the most of their potential, though. So the best thing to do is likely to just leave them alone as long as you can, and round them out with an index-based ETF you can also truly commit to for the long haul.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":866586351,"gmtCreate":1632790885773,"gmtModify":1632797582065,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaw","listText":"wooooooaaaw","text":"wooooooaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866586351","repostId":"1199853438","repostType":4,"repost":{"id":"1199853438","pubTimestamp":1632790562,"share":"https://www.laohu8.com/m/news/1199853438?lang=&edition=full","pubTime":"2021-09-28 08:56","market":"us","language":"en","title":"U.S. Bank Stocks Surge Toward Best Year Since 1997 on Fed Shift","url":"https://stock-news.laohu8.com/highlight/detail?id=1199853438","media":"Bloomberg","summary":"U.S. bank stocks are on track for the biggest annual gain in more than two decades as traders increa","content":"<p>U.S. bank stocks are on track for the biggest annual gain in more than two decades as traders increase bets that the Federal Reserve will start raising interest rates as soon as late next year, promising to boost lenders’ profits.</p>\n<p>The KBW Bank Index jumped 2.9% on Monday after 10-year Treasury yields touched the highest level since June on expectations that the Fed is moving closer toward tightening monetary policy as the economy recovers from the pandemic. The advance pushed the index to a gain of 37% this year, the most since 1997.</p>\n<p>READ: Treasury 10-Year Yield Tops 1.5% for <a href=\"https://laohu8.com/S/FBNC\">First</a> <a href=\"https://laohu8.com/S/TIME\">Time</a> Since June</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> began piling back into bank shares last week after the Fed’s latest dot plot showed 9 of 18 officials anticipate a rate hike next year, up from seven in June, and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank may soon begin scaling back its massive bond purchases.</p>\n<p>Higher interest rates would provide a boost to banks’ bottom lines by increasing earnings on long-term loans.</p>\n<p>“Recent commentary about both tapering and a potential 2022 rate hike prove positive tailwinds” for asset sensitive banks, Hovde Group analysts include Brett Rabatin wrote in a note.</p>\n<p>All 24 members of the KBW Bank Index have gained at least 3.5% since the Fed’s Sept. 22 meeting, with half of shares rising 10% or more over the four-day rally. Dallas-based <a href=\"https://laohu8.com/S/CMA\">Comerica</a> Inc. has been the best performer, jumping about 15%.</p>\n<p>But <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a> &amp; Co. has lagged its peers and was the lone decliner on Monday after the bank reached a settlement with the U.S. Justice Department over claims it overcharged commercial customers who used its foreign exchange services.</p>\n<p>While the Fed’s next meeting is not until November, the next major catalyst for banks is just over two weeks away, with <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co. scheduled to kick off the third-quarter earnings season on Oct. 13.</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>U.S. Bank Stocks Surge Toward Best Year Since 1997 on Fed Shift</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\">\nU.S. Bank Stocks Surge Toward Best Year Since 1997 on Fed Shift\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-28 08:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/u-bank-stocks-surge-toward-173655393.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. bank stocks are on track for the biggest annual gain in more than two decades as traders increase bets that the Federal Reserve will start raising interest rates as soon as late next year, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/u-bank-stocks-surge-toward-173655393.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行"},"source_url":"https://finance.yahoo.com/news/u-bank-stocks-surge-toward-173655393.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199853438","content_text":"U.S. bank stocks are on track for the biggest annual gain in more than two decades as traders increase bets that the Federal Reserve will start raising interest rates as soon as late next year, promising to boost lenders’ profits.\nThe KBW Bank Index jumped 2.9% on Monday after 10-year Treasury yields touched the highest level since June on expectations that the Fed is moving closer toward tightening monetary policy as the economy recovers from the pandemic. The advance pushed the index to a gain of 37% this year, the most since 1997.\nREAD: Treasury 10-Year Yield Tops 1.5% for First Time Since June\nInvestors began piling back into bank shares last week after the Fed’s latest dot plot showed 9 of 18 officials anticipate a rate hike next year, up from seven in June, and Chair Jerome Powell said the central bank may soon begin scaling back its massive bond purchases.\nHigher interest rates would provide a boost to banks’ bottom lines by increasing earnings on long-term loans.\n“Recent commentary about both tapering and a potential 2022 rate hike prove positive tailwinds” for asset sensitive banks, Hovde Group analysts include Brett Rabatin wrote in a note.\nAll 24 members of the KBW Bank Index have gained at least 3.5% since the Fed’s Sept. 22 meeting, with half of shares rising 10% or more over the four-day rally. Dallas-based Comerica Inc. has been the best performer, jumping about 15%.\nBut Wells Fargo & Co. has lagged its peers and was the lone decliner on Monday after the bank reached a settlement with the U.S. Justice Department over claims it overcharged commercial customers who used its foreign exchange services.\nWhile the Fed’s next meeting is not until November, the next major catalyst for banks is just over two weeks away, with JPMorgan Chase & Co. scheduled to kick off the third-quarter earnings season on Oct. 13.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":132673249,"gmtCreate":1622088302881,"gmtModify":1634183945259,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wiooooaw","listText":"wiooooaw","text":"wiooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/132673249","repostId":"2138149518","repostType":4,"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805621558,"gmtCreate":1627877597374,"gmtModify":1633755676340,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooooaw","listText":"wooooooooaw","text":"wooooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/805621558","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","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":1627857540,"share":"https://www.laohu8.com/m/news/1170689665?lang=&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p>\n<p>Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p>\n<p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p>\n<p><b>Monday 8/2</b></p>\n<p>CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p>\n<p>GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p>\n<p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p>\n<p><b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p>\n<p><b>Tuesday 8/3</b></p>\n<p>Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p>\n<p><b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p>\n<p><b>Wednesday 8/4</b></p>\n<p>Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p>\n<p><b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p>\n<p><b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p>\n<p><b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p>\n<p><b>Thursday 8/5</b></p>\n<p>Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p>\n<p>Friday 8/6</p>\n<p><b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p>\n<p>DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</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>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors 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\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week\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 06:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p>\n<p>Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p>\n<p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p>\n<p><b>Monday 8/2</b></p>\n<p>CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p>\n<p>GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p>\n<p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p>\n<p><b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p>\n<p><b>Tuesday 8/3</b></p>\n<p>Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p>\n<p><b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p>\n<p><b>Wednesday 8/4</b></p>\n<p>Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p>\n<p><b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p>\n<p><b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p>\n<p><b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p>\n<p><b>Thursday 8/5</b></p>\n<p>Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p>\n<p>Friday 8/6</p>\n<p><b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p>\n<p>DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EA":"艺电",".DJI":"道琼斯","BABA":"阿里巴巴","DKNG":"DraftKings Inc.",".IXIC":"NASDAQ Composite","GM":"通用汽车","GE":"GE航空航天","ROKU":"Roku Inc",".SPX":"S&P 500 Index","UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123520055,"gmtCreate":1624430169677,"gmtModify":1634006222562,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaw","listText":"woooooooaw","text":"woooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/123520055","repostId":"1116009757","repostType":4,"isVote":1,"tweetType":1,"viewCount":141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110226324,"gmtCreate":1622462381368,"gmtModify":1634101321397,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woaaaaaw","listText":"woaaaaaw","text":"woaaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/110226324","repostId":"1190963228","repostType":4,"repost":{"id":"1190963228","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":1622462311,"share":"https://www.laohu8.com/m/news/1190963228?lang=&edition=full","pubTime":"2021-05-31 19:58","market":"us","language":"en","title":"Porsche, Piech families weigh direct stake in possible Porsche IPO-sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1190963228","media":"Reuters","summary":"The Porsche and Piech families, who control Volkswagen's largest shareholder, are prepared to take a","content":"<p>The Porsche and Piech families, who control Volkswagen's&nbsp;largest shareholder, are prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed, two people familiar with the matter said.</p>\n<p>Such a move would loosen the families' grip on Europe's largest carmaker Volkswagen, in favour of direct ownership of the iconic sports car brand, founded by their ancestor Ferdinand Porsche, which dates back to 1931.</p>\n<p>Speculation about a listing of the unit earlier this year included estimates of a standalone valuation of Porsche AG ranging from 45 billion to 90 billion euros ($55 billion-$110 billion), compared with 135 billion for the Volkswagen group.</p>\n<p>While saying that a possible initial public offering (IPO) of Porsche AG is not high up on the agenda, Volkswagen continues to weigh scenarios for a listing, the people said, adding that the key obstacle remained VW's complex stakeholder set-up.</p>\n<p>That set-up was carefully crafted in the wake of a failed takeover of Volkswagen by Porsche in 2009, which resulted in Volkswagen acquiring the well-known brand while the Porsche and Piech families became VW's most influential investors.</p>\n<p>No decision has been made by Volkswagen on whether to separately list Porsche AG and there is no guarantee that such a move will happen, the people said.</p>\n<p>Today, the families hold all ordinary shares of Porsche Automobil Holding SE, which owns more than half of the voting rights as well as a 31.4% equity stake in Volkswagen.</p>\n<p>Porsche Automobil Holding and Volkswagen declined to comment.</p>\n<p>Selling some voting rights in Volkswagen to co-shareholder Lower Saxony, which holds a 20% voting stake, would be one way for the families to gain direct ownership in the namesake brand while keeping activist investors out, Stifel analysts say.</p>\n<p>\"We believe this scenario would satisfy all parties,\" they wrote, adding that while the families would regain some control of Porsche AG, Lower Saxony would have a blocking minority and unions would be happy about the cash inflow.</p>\n<p>Asked about a possible listing earlier this month, Volkswagen Chief Executive Herbert Diess said the group's current cash flow was sufficient to fund an ambitious turnaround to become the world's largest maker of electric vehicles.</p>\n<p>($1 = 0.8201 euros)</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>Porsche, Piech families weigh direct stake in possible Porsche IPO-sources</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{ 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}\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\">\nPorsche, Piech families weigh direct stake in possible Porsche IPO-sources\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\">2021-05-31 19:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The Porsche and Piech families, who control Volkswagen's&nbsp;largest shareholder, are prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed, two people familiar with the matter said.</p>\n<p>Such a move would loosen the families' grip on Europe's largest carmaker Volkswagen, in favour of direct ownership of the iconic sports car brand, founded by their ancestor Ferdinand Porsche, which dates back to 1931.</p>\n<p>Speculation about a listing of the unit earlier this year included estimates of a standalone valuation of Porsche AG ranging from 45 billion to 90 billion euros ($55 billion-$110 billion), compared with 135 billion for the Volkswagen group.</p>\n<p>While saying that a possible initial public offering (IPO) of Porsche AG is not high up on the agenda, Volkswagen continues to weigh scenarios for a listing, the people said, adding that the key obstacle remained VW's complex stakeholder set-up.</p>\n<p>That set-up was carefully crafted in the wake of a failed takeover of Volkswagen by Porsche in 2009, which resulted in Volkswagen acquiring the well-known brand while the Porsche and Piech families became VW's most influential investors.</p>\n<p>No decision has been made by Volkswagen on whether to separately list Porsche AG and there is no guarantee that such a move will happen, the people said.</p>\n<p>Today, the families hold all ordinary shares of Porsche Automobil Holding SE, which owns more than half of the voting rights as well as a 31.4% equity stake in Volkswagen.</p>\n<p>Porsche Automobil Holding and Volkswagen declined to comment.</p>\n<p>Selling some voting rights in Volkswagen to co-shareholder Lower Saxony, which holds a 20% voting stake, would be one way for the families to gain direct ownership in the namesake brand while keeping activist investors out, Stifel analysts say.</p>\n<p>\"We believe this scenario would satisfy all parties,\" they wrote, adding that while the families would regain some control of Porsche AG, Lower Saxony would have a blocking minority and unions would be happy about the cash inflow.</p>\n<p>Asked about a possible listing earlier this month, Volkswagen Chief Executive Herbert Diess said the group's current cash flow was sufficient to fund an ambitious turnaround to become the world's largest maker of electric vehicles.</p>\n<p>($1 = 0.8201 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"POAHF":"Porsche Automobile Holding SE","0JHU.UK":"PORSCHE AUTOMOB","VLKAF":"Volkswagen AG","VLKPF":"Volkswagen AG"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190963228","content_text":"The Porsche and Piech families, who control Volkswagen's largest shareholder, are prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed, two people familiar with the matter said.\nSuch a move would loosen the families' grip on Europe's largest carmaker Volkswagen, in favour of direct ownership of the iconic sports car brand, founded by their ancestor Ferdinand Porsche, which dates back to 1931.\nSpeculation about a listing of the unit earlier this year included estimates of a standalone valuation of Porsche AG ranging from 45 billion to 90 billion euros ($55 billion-$110 billion), compared with 135 billion for the Volkswagen group.\nWhile saying that a possible initial public offering (IPO) of Porsche AG is not high up on the agenda, Volkswagen continues to weigh scenarios for a listing, the people said, adding that the key obstacle remained VW's complex stakeholder set-up.\nThat set-up was carefully crafted in the wake of a failed takeover of Volkswagen by Porsche in 2009, which resulted in Volkswagen acquiring the well-known brand while the Porsche and Piech families became VW's most influential investors.\nNo decision has been made by Volkswagen on whether to separately list Porsche AG and there is no guarantee that such a move will happen, the people said.\nToday, the families hold all ordinary shares of Porsche Automobil Holding SE, which owns more than half of the voting rights as well as a 31.4% equity stake in Volkswagen.\nPorsche Automobil Holding and Volkswagen declined to comment.\nSelling some voting rights in Volkswagen to co-shareholder Lower Saxony, which holds a 20% voting stake, would be one way for the families to gain direct ownership in the namesake brand while keeping activist investors out, Stifel analysts say.\n\"We believe this scenario would satisfy all parties,\" they wrote, adding that while the families would regain some control of Porsche AG, Lower Saxony would have a blocking minority and unions would be happy about the cash inflow.\nAsked about a possible listing earlier this month, Volkswagen Chief Executive Herbert Diess said the group's current cash flow was sufficient to fund an ambitious turnaround to become the world's largest maker of electric vehicles.\n($1 = 0.8201 euros)","news_type":1},"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807710081,"gmtCreate":1628056850243,"gmtModify":1633753967191,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooooooaw","listText":"wooooooooooaw","text":"wooooooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807710081","repostId":"1135713978","repostType":4,"repost":{"id":"1135713978","pubTimestamp":1628056812,"share":"https://www.laohu8.com/m/news/1135713978?lang=&edition=full","pubTime":"2021-08-04 14:00","market":"us","language":"en","title":"Alphabet wants to make its own smartphone chips — what in the world is the company thinking?","url":"https://stock-news.laohu8.com/highlight/detail?id=1135713978","media":"MarketWatch","summary":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit","content":"<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/729798ae4b174d85419678e03af11d00\" tg-width=\"1050\" tg-height=\"699\" width=\"100%\" height=\"auto\"><span>(Photo credit should read Alain Jocard/AFP via Getty Images)</span></p>\n<p>Alphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.</p>\n<p>The company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market&nbsp;and no real sign of that changing, does a bet like this make sense?</p>\n<p>While much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.</p>\n<p><b>Apple’s foreshadowing</b></p>\n<p>Apple made headlines over the past few years with its departure from Intel&nbsp;and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.</p>\n<p>It’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&amp;T,T-Mobile&nbsp;and others.</p>\n<p>For some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.</p>\n<p>Returning us to the question: What in the world is Alphabet doing here, and does it make any sense?</p>\n<p><b>Vertical integration</b></p>\n<p>The short answer is yes, and no, but mostly no. At least for Alphabet.</p>\n<p>The argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.</p>\n<p>Furthermore, we have seen Amazon’s&nbsp;AWS and Alibaba&nbsp;build Arm-based solutions for their cloud offerings, and Microsoft&nbsp;has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.</p>\n<p>To launch the M1, Apple spent years on R&amp;D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.</p>\n<p>Perhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.</p>\n<p>And perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.</p>\n<p>I doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.</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>Alphabet wants to make its own smartphone chips — what in the world is the company thinking?</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\">\nAlphabet wants to make its own smartphone chips — what in the world is the company thinking?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-04 14:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit should read Alain Jocard/AFP via Getty Images)\nAlphabet said Monday it will take its silicon ...</p>\n\n<a href=\"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?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":{"GOOGL":"谷歌A","GOOG":"谷歌"},"source_url":"https://www.marketwatch.com/story/alphabet-wants-to-make-its-own-smartphone-chips-what-in-the-world-is-the-company-thinking-11628003771?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135713978","content_text":"It’s a big, and risky, bet. Apple did something similar and had a difficult transition\n(Photo credit should read Alain Jocard/AFP via Getty Images)\nAlphabet said Monday it will take its silicon building in-house when it launches a new flagship line of Google Pixel phones.\nThe company’s move creates as many questions as it does answers. Perhaps the first being,with only about 2% of the U.S. smartphone market and no real sign of that changing, does a bet like this make sense?\nWhile much of the analysis of this news pointed to it as a positive step for AlphabetGOOG,+0.21%,I interpreted it as a desperate attempt for the company to make headlines about its poor-performing line of mobile devices and to do so by taking a risk that even AppleAAPL,+1.26%isn’t yet willing to take when it comes to its vertical integration into semiconductors.\nApple’s foreshadowing\nApple made headlines over the past few years with its departure from Intel and the introduction of its M1 architecture. This transition from Intel to homegrown processors built on the increasingly popular Arm architecture was done methodically over several years to ensure that the change would go smoothly. For the most part, the M1 launched without significant incident, but its critics would be the first to point out that the transition was anything but flawless.\nIt’s also worth pointing out that Apple, while it has incorporated a number of its cores to handle capabilities like image sensing and graphics, has left the modem and radio, oft-referred to as RFFE, to Qualcomm,due to the complexity of building a modem-RF system for 5G, which is incredibly complicated and proper function is imperative to get devices certified by different carriers like Verizon,AT&T,T-Mobile and others.\nFor some reason that I simply cannot understand, Alphabet wants to abandon not only the Qualcomm Snapdragon, which most simply can be considered the full set of systems to power all the phones features, and ditch it for its own set of cores, but allegedly also abandon Qualcomm’s proven modem-RF system to use (rumored) Samsung’s Exynos, which has almost zero market penetration and has run into issues with power management and carrier certification. Even Samsung uses Qualcomm’s modem-RF system for large portions of its flagship devices, including its U.S. flagship devices. Apple does as well.\nReturning us to the question: What in the world is Alphabet doing here, and does it make any sense?\nVertical integration\nThe short answer is yes, and no, but mostly no. At least for Alphabet.\nThe argument to favor this change comes down to profitability and control for Alphabet. Apple has proven that deeper vertical integration can be lucrative, and its Bionic chips have continued to improve with each generation. Alphabet, which has built a very limited set of custom ASICs (application specific integrated circuits) for artificial intelligence (AI), wants the market to see it as every bit as capable of this type of move as Apple.\nFurthermore, we have seen Amazon’s AWS and Alibaba build Arm-based solutions for their cloud offerings, and Microsoft has also been touted to be following suit. For the data center, this seems to make sense, with AWS, for instance, seeing success from its Graviton line of CPUs and Trainium series of ML chips. No one would be surprised to see Alphabet significantly increase its efforts to launch or further enhance custom silicon development for its cloud and AI offerings. But servers, and even notebooks, aren’t mobile devices.\nTo launch the M1, Apple spent years on R&D and made several key acquisitions, including Dialog Semiconductor in 2018 for $600 million to add to its internal chipmaking and systems capabilities. It even acquired the remnants of Intel’s mobile modem business upon deciding to move away from Intel on the horizon of 5G. But, with all of that IP, and investment in tow, and even a multi-year legal feud with Qualcomm, Apple still recognized there were some things better left to be done by Qualcomm.\nPerhaps Alphabet figures with almost no market share and no notoriety around its Pixel smartphone lineup that it doesn’t matter if the Pixel 6 series is a disaster.\nAnd perhaps Google will surprise the world by using its cores plus a lesser-quality modem-RF system to somehow put out a device that will outperform Apple, Samsung and dozens of other handset makers that have entrusted Qualcomm to provide the guts of their devices.\nI doubt it, though, and if nearly a decade of insignificant market penetration with their mobile devices serves as an indicator of how well this move will go for Alphabet, I think it’s safe to chalk this up in the L column.","news_type":1},"isVote":1,"tweetType":1,"viewCount":60,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117135162,"gmtCreate":1623121400256,"gmtModify":1634036706421,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaws","listText":"wooooooaws","text":"wooooooaws","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/117135162","repostId":"2141342255","repostType":4,"repost":{"id":"2141342255","pubTimestamp":1623098661,"share":"https://www.laohu8.com/m/news/2141342255?lang=&edition=full","pubTime":"2021-06-08 04:44","market":"us","language":"en","title":"S&P closes nominally lower as investors wait for a catalyst","url":"https://stock-news.laohu8.com/highlight/detail?id=2141342255","media":"REUTERS","summary":"NEW YORK (REUTERS) - The S&P 500 ended a languid session slightly in the red on Monday (June 7), wit","content":"<div>\n<p>NEW YORK (REUTERS) - The S&P 500 ended a languid session slightly in the red on Monday (June 7), with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/sp-closes-nominally-lower-as-investors-wait-for-a-catalyst\">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>S&P closes nominally lower as investors wait for a catalyst</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; 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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 closes nominally lower as investors wait for a catalyst\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 04:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/sp-closes-nominally-lower-as-investors-wait-for-a-catalyst><strong>REUTERS</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (REUTERS) - The S&P 500 ended a languid session slightly in the red on Monday (June 7), with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/sp-closes-nominally-lower-as-investors-wait-for-a-catalyst\">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","OEX":"标普100","SDS":"两倍做空标普500ETF","SSO":"两倍做多标普500ETF","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SPXU":"三倍做空标普500ETF","SH":"标普500反向ETF","BIIB":"渤健公司","IVV":"标普500指数ETF"},"source_url":"http://www.straitstimes.com/business/companies-markets/sp-closes-nominally-lower-as-investors-wait-for-a-catalyst","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141342255","content_text":"NEW YORK (REUTERS) - The S&P 500 ended a languid session slightly in the red on Monday (June 7), with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.The Dow closed well within negative territory, while the Nasdaq advanced. Still, the S&P and the Dow remained inside one percentage point of their record closing highs.\"Thematically, we're done with earnings, so you have this lull in between earnings when what drives the market is economic data points,\" said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. \"There's not a lot of impetus for investors to take action today.\"\"There's been this flip-flop between whether inflation will be transitory or persistent, and the next card that gets flipped over for that is the CPI report on Thursday,\" Sroka added.Small-caps outperformed as the ongoing retail frenzy boosted stocks whose recent explosive trading volumes have been attributed to social media buzz.AMC Entertainment Holdings jumped 14.8%, extending the previous week's 85% gain.Other so-called \"meme stocks,\" including GameStop and US-listed shares of Blackberry advanced between 7% and 14%.\"You've seen a decades-long, technology-enabled democratisation of the market and there's certainly groups of individual investors that flock to these ideas,\" Sroka said. \"We're seeing speculative trading in an age of multiple outlets and social media amplifies the news.\"The Group of Seven (G-7) advanced economies agreed on Saturday to back a minimum global corporate tax rate of at least 15%, a move Treasury Secretary Janet Yellen called a \"significant, unprecedented commitment\" to bring what she called a race to the bottom on global taxation.Lawmakers in Washington are doubling down on efforts to craft a bipartisan infrastructure spending package, with House Democrats expected to bring a bill to vote as early as Wednesday.The Dow Jones Industrial Average fell 126.15 points, or 0.36%, to 34,630.24; the S&P 500 lost 3.37 points, or 0.08%, at 4,226.52; and the Nasdaq Composite added 67.23 points, or 0.49%, at 13,881.72.Of the 11 major sectors in the S&P 500, seven lost ground, with materials suffering the largest percentage drop.Real estate led the gainers.Shares of Biogen Inc surged 38.3% following news that the US Food and Drug Administration approved its Alzheimer's disease drug aducanumab.Data centre operator QTS Realty Trust jumped 21.2% on reports of a takeover deal by investment firm Blackstone Group worth $6.7 billion. Cruise operator Royal Caribbean announced that six of its ships would begin sailing from Florida and Texas ports in July and August.Its shares gained 0.4%, while rivals Carnival and Norwegian Cruise Line advanced 1.1% and 3.1%, respectively.Advancing issues outnumbered decliners on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.82-to-1 ratio favored advancers.The S&P 500 posted 62 new 52-week highs and one new low; the Nasdaq Composite recorded 168 new highs and 21 new lows.Volume on U.S. exchanges was 10.52 billion shares, compared with the 10.71 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819831087,"gmtCreate":1630052763049,"gmtModify":1704955215248,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooooooooaaaaaw","listText":"wooooooooooooaaaaaw","text":"wooooooooooooaaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819831087","repostId":"2162847016","repostType":4,"repost":{"id":"2162847016","pubTimestamp":1630008724,"share":"https://www.laohu8.com/m/news/2162847016?lang=&edition=full","pubTime":"2021-08-27 04:12","market":"us","language":"en","title":"Wall Street loses ground, snapping rally on Afghanistan, Fed concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=2162847016","media":"Reuters","summary":"NEW YORK, Aug 26 (Reuters) - Wall Street closed lower on Thursday, ending a streak of all-time closi","content":"<p>NEW YORK, Aug 26 (Reuters) - Wall Street closed lower on Thursday, ending a streak of all-time closing highs on concerns over developments in Afghanistan, while fears of a potential shift in U.S. Federal Reserve policy prompted a broad but shallow sell-off the day before the Jackson Hole Symposium.</p>\n<p>All three major U.S. stock indexes ended the session in the red, with the S&amp;P and the Nasdaq notching their first down day in six.</p>\n<p>The sell-off firmed after hawkish commentary from Dallas Fed President Robert Kaplan and a blast outside the Kabul airport in Afghanistan helped strengthen the risk-off sentiment.</p>\n<p>Kaplan, who is not currently a voting member of the Federal Open Markets Committee, said he believes the progress of economic recovery warrants tapering of the Fed's asset purchases to commence in October or shortly thereafter.</p>\n<p>Kaplan's remarks followed earlier comments from the St. Louis Fed President James Bullard, who said that the central bank is \"coalescing\" around a plan to begin tapering process.</p>\n<p>\"(Kaplan’s statements) caused a little confusion about the taper timeline, but in my opinion the equity markets are focused on geopolitical issues,\" said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors in Hunt Valley, Maryland. \"There’s a flight to safety during geopolitical tensions.\"</p>\n<p>\"I am surprised the market the market hasn’t fallen more, given the fear that it could take focus away from (U.S. President Joe Biden's) domestic agenda,\" Horneman added.</p>\n<p>The economy grew at a slightly faster pace than originally reported in the second quarter, fully recovering its losses from the most abrupt downturn in U.S. history, according to the Commerce Department. But jobless claims, though still on a downward trajectory, ticked higher last week.</p>\n<p>The data did little to move the needle with respect to expectations that the Fed is unlikely tip its hand regarding the taper timeline when Chairman Jerome Powell unmutes and delivers his speech at Friday's virtual Jackson Hole Symposium.</p>\n<p>\"We’re going to see a lot of market participants analyze every word (Powell) uses, but at the end of the day, they will begin tapering,\" Horneman said. \"I’m more concerned about the speed at which they taper. What are they going to start with? That will give us a clearer indication as whether they’re getting more hawkish.\"</p>\n<p>The Dow Jones Industrial Average fell 192.38 points, or 0.54%, to 35,213.12, the S&amp;P 500 lost 26.19 points, or 0.58%, to 4,470 and the Nasdaq Composite dropped 96.05 points, or 0.64%, to 14,945.81.</p>\n<p>Of the 11 major sectors in the S&amp;P 500, all but real estate ended the session lower, with energy stocks suffering the steepest percentage loss.</p>\n<p>Discount retailers Dollar General Corp and Dollar Tree Inc slid 3.8% and 12.1%, respectively, after warning higher transportation costs will hurt their bottom lines.</p>\n<p>Coty Inc jumped 14.7% after the cosmetics firm said it expects to post full-year sales growth for the first time in three years.</p>\n<p>Salesforce.com Inc hiked its earnings forecast as the shift to a hybrid work model is expected to fuel strong demand. Its shares advanced 2.7%.</p>\n<p>NetApp Inc jumped 4.7% as brokerages raised their price targets in the wake of the cloud computing firm's better-than-expected 2022 earnings outlook.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.99-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 31 new 52-week highs and two new lows; the Nasdaq Composite recorded 82 new highs and 39 new lows.</p>\n<p>Volume on U.S. exchanges was 8.27 billion shares, compared with the 8.96 billion average over the last 20 trading days. (Reporting by Stephen Culp; Additional reporting by Devik Jain in Bengaluru Editing by Marguerita Choy)</p>","source":"yahoofinance","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 loses ground, snapping rally on Afghanistan, Fed concerns</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 loses ground, snapping rally on Afghanistan, Fed concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-27 04:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-wall-street-loses-201204459.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Aug 26 (Reuters) - Wall Street closed lower on Thursday, ending a streak of all-time closing highs on concerns over developments in Afghanistan, while fears of a potential shift in U.S. ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-street-loses-201204459.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","SSO":"两倍做多标普500ETF","COMP":"Compass, Inc.","OEX":"标普100","UPRO":"三倍做多标普500ETF",".SPX":"S&P 500 Index","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-street-loses-201204459.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2162847016","content_text":"NEW YORK, Aug 26 (Reuters) - Wall Street closed lower on Thursday, ending a streak of all-time closing highs on concerns over developments in Afghanistan, while fears of a potential shift in U.S. Federal Reserve policy prompted a broad but shallow sell-off the day before the Jackson Hole Symposium.\nAll three major U.S. stock indexes ended the session in the red, with the S&P and the Nasdaq notching their first down day in six.\nThe sell-off firmed after hawkish commentary from Dallas Fed President Robert Kaplan and a blast outside the Kabul airport in Afghanistan helped strengthen the risk-off sentiment.\nKaplan, who is not currently a voting member of the Federal Open Markets Committee, said he believes the progress of economic recovery warrants tapering of the Fed's asset purchases to commence in October or shortly thereafter.\nKaplan's remarks followed earlier comments from the St. Louis Fed President James Bullard, who said that the central bank is \"coalescing\" around a plan to begin tapering process.\n\"(Kaplan’s statements) caused a little confusion about the taper timeline, but in my opinion the equity markets are focused on geopolitical issues,\" said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors in Hunt Valley, Maryland. \"There’s a flight to safety during geopolitical tensions.\"\n\"I am surprised the market the market hasn’t fallen more, given the fear that it could take focus away from (U.S. President Joe Biden's) domestic agenda,\" Horneman added.\nThe economy grew at a slightly faster pace than originally reported in the second quarter, fully recovering its losses from the most abrupt downturn in U.S. history, according to the Commerce Department. But jobless claims, though still on a downward trajectory, ticked higher last week.\nThe data did little to move the needle with respect to expectations that the Fed is unlikely tip its hand regarding the taper timeline when Chairman Jerome Powell unmutes and delivers his speech at Friday's virtual Jackson Hole Symposium.\n\"We’re going to see a lot of market participants analyze every word (Powell) uses, but at the end of the day, they will begin tapering,\" Horneman said. \"I’m more concerned about the speed at which they taper. What are they going to start with? That will give us a clearer indication as whether they’re getting more hawkish.\"\nThe Dow Jones Industrial Average fell 192.38 points, or 0.54%, to 35,213.12, the S&P 500 lost 26.19 points, or 0.58%, to 4,470 and the Nasdaq Composite dropped 96.05 points, or 0.64%, to 14,945.81.\nOf the 11 major sectors in the S&P 500, all but real estate ended the session lower, with energy stocks suffering the steepest percentage loss.\nDiscount retailers Dollar General Corp and Dollar Tree Inc slid 3.8% and 12.1%, respectively, after warning higher transportation costs will hurt their bottom lines.\nCoty Inc jumped 14.7% after the cosmetics firm said it expects to post full-year sales growth for the first time in three years.\nSalesforce.com Inc hiked its earnings forecast as the shift to a hybrid work model is expected to fuel strong demand. Its shares advanced 2.7%.\nNetApp Inc jumped 4.7% as brokerages raised their price targets in the wake of the cloud computing firm's better-than-expected 2022 earnings outlook.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.99-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored decliners.\nThe S&P 500 posted 31 new 52-week highs and two new lows; the Nasdaq Composite recorded 82 new highs and 39 new lows.\nVolume on U.S. exchanges was 8.27 billion shares, compared with the 8.96 billion average over the last 20 trading days. (Reporting by Stephen Culp; Additional reporting by Devik Jain in Bengaluru Editing by Marguerita Choy)","news_type":1},"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183973559,"gmtCreate":1623303926671,"gmtModify":1634034760985,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooaw","listText":"woooooaw","text":"woooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/183973559","repostId":"1114854557","repostType":4,"repost":{"id":"1114854557","pubTimestamp":1623302413,"share":"https://www.laohu8.com/m/news/1114854557?lang=&edition=full","pubTime":"2021-06-10 13:20","market":"us","language":"en","title":"The Fed Is Paying 0.00%. Such a Deal! Depositors Are Flocking","url":"https://stock-news.laohu8.com/highlight/detail?id=1114854557","media":"bloomberg","summary":"You would think the Federal Reserve would have a hard time attracting funds by offering an interest ","content":"<p>You would think the Federal Reserve would have a hard time attracting funds by offering an interest rate of 0.00%, and for a long time that was true. After all, why earn nothing on your money when there’s Bitcoin and AMC Entertainment Holdings Inc. and lumber and houses in Boise? Many days last year and early this year&nbsp;there were no takers.</p>\n<p>Starting in April, though, no interest started looking&nbsp;interesting to certain investors&nbsp;with too much cash on their hands. The amount of money they placed at the Fed overnight at 0.00% grew from nothing to single-digit millions to billions and, as of June 8, $497.4&nbsp;billion. That’s the most ever.</p>\n<p>The Federal Reserve Swallows Up Money</p>\n<p>Money market funds and others are depositing more funds overnight at the central bank</p>\n<p>Source: Federal Reserve Bank of New York</p>\n<p>Banks and money market mutual funds are unhappy with the situation and they’re&nbsp;pressing the Federal Reserve to do something about it. Others say there’s no rush to tinker. The Fed facility that’s taking in all that money is “doing what it’s designed to do,” Credit Suisse Group AG analyst Zoltan Pozsar wrote in a client note on June 4.</p>\n<p>Meanwhile, the numbers are likely to get even bigger, the Bank Policy Institute, a research and advocacy group, said&nbsp;on June 8. “We could see take-up nearing $1 trillion at the end of the second quarter of 2021, driven by the seasonal spikes,”wroteFrancisco Covas, its head of research.</p>\n<p>The quick explanation for this is that there’s a lot of money sloshing around the financial system, and for regulatory reasons banks don’t want to take it in as deposits. So money market mutual funds are absorbing the money. Each night they place some of their assets with the Fed and earn nothing, which is bad for their profitability. As for the Fed, the reason it even offers the facility is that otherwise the forces of supply and demand might push the federal funds rate below zero, which it has vowed not to let happen.</p>\n<p>The longer explanation gets at why this is suddenly happening now. As the Bank Policy Institute explains, the key reason is a rule change regarding bank capital requirements that took effect on April 1. It has to do with a clunky requirement called the supplementary leverage ratio, which is intended to prevent banks from taking on too much debt to acquire assets. The fear, of course, is that the assets will lose value and make the banks insolvent. The supplementary ratio, in its clunky way, treats all assets as equally risky, even though of course they aren’t:&nbsp;Treasury bonds and reserves at the Fed are extremely safe.</p>\n<p>When the Covid-19 crisis hit last year, regulators waived the rule, temporarily excluding banks’ holdings of Treasury bonds and reserves&nbsp;from the supplementary leverage ratio calculation. But the waiver ended on&nbsp;March 31 of this year, so banks once again have an incentive not to take in a lot of funds (such as deposits) to acquire a lot of assets (such as Treasuries and reserves). A related&nbsp;rule that’s getting the biggest banks to push away deposits is the capital surcharge for global systemically important banks.</p>\n<p>The Fed itself is increasing the pressure on the system by continuing to buy&nbsp;$120 billion a month of&nbsp;Treasuries and mortgage-backed securities to push down long-term interest rates. The money the Fed pays out, instead of going into bank deposits, is winding up in money market mutual funds, and then circulating into the Fed’s deposit facility, which consists of overnight reverse repurchase agreements.</p>\n<p>One problem with this situation is that the Fed is taking over what used to be a mostly private function. If money market funds get used to keeping a lot of their money at the Fed instead of investing in, say, the commercial paper of private companies, they may switch even more money to the Fed in some future crisis, depriving the private sector of&nbsp;needed funds. This isn’t just a theoretical concern—companies lost access to funding in the global financial crisis of 2007-09.</p>\n<p>The Bank Policy Institute quotes from a 2015&nbsp;Fed staffworking paper:</p>\n<p><i>“Most importantly, a permanently expanded role for the Federal Reserve in short-term funding markets could reshape the financial industry in ways that may be difficult to&nbsp;anticipate and that may prove to be&nbsp;undesirable. For example, a permanent or long-lasting&nbsp;facility that causes very significant crowding out of short-term financing could lead to&nbsp;atrophying of the private infrastructure that supports these markets. Partially in response to some&nbsp;of these concerns, the FOMC has made clear that an ON RRP facility is not intended to be&nbsp;permanent.”</i></p>\n<p>Except now the overnight reverse repurchase facility seemingly is permanent, or at least long-lasting—and large.</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>The Fed Is Paying 0.00%. Such a Deal! Depositors Are Flocking</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 Fed Is Paying 0.00%. Such a Deal! Depositors Are Flocking\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 13:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-09/the-fed-is-paying-0-00-such-a-deal-depositors-are-flocking><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You would think the Federal Reserve would have a hard time attracting funds by offering an interest rate of 0.00%, and for a long time that was true. After all, why earn nothing on your money when ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-09/the-fed-is-paying-0-00-such-a-deal-depositors-are-flocking\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-09/the-fed-is-paying-0-00-such-a-deal-depositors-are-flocking","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114854557","content_text":"You would think the Federal Reserve would have a hard time attracting funds by offering an interest rate of 0.00%, and for a long time that was true. After all, why earn nothing on your money when there’s Bitcoin and AMC Entertainment Holdings Inc. and lumber and houses in Boise? Many days last year and early this year there were no takers.\nStarting in April, though, no interest started looking interesting to certain investors with too much cash on their hands. The amount of money they placed at the Fed overnight at 0.00% grew from nothing to single-digit millions to billions and, as of June 8, $497.4 billion. That’s the most ever.\nThe Federal Reserve Swallows Up Money\nMoney market funds and others are depositing more funds overnight at the central bank\nSource: Federal Reserve Bank of New York\nBanks and money market mutual funds are unhappy with the situation and they’re pressing the Federal Reserve to do something about it. Others say there’s no rush to tinker. The Fed facility that’s taking in all that money is “doing what it’s designed to do,” Credit Suisse Group AG analyst Zoltan Pozsar wrote in a client note on June 4.\nMeanwhile, the numbers are likely to get even bigger, the Bank Policy Institute, a research and advocacy group, said on June 8. “We could see take-up nearing $1 trillion at the end of the second quarter of 2021, driven by the seasonal spikes,”wroteFrancisco Covas, its head of research.\nThe quick explanation for this is that there’s a lot of money sloshing around the financial system, and for regulatory reasons banks don’t want to take it in as deposits. So money market mutual funds are absorbing the money. Each night they place some of their assets with the Fed and earn nothing, which is bad for their profitability. As for the Fed, the reason it even offers the facility is that otherwise the forces of supply and demand might push the federal funds rate below zero, which it has vowed not to let happen.\nThe longer explanation gets at why this is suddenly happening now. As the Bank Policy Institute explains, the key reason is a rule change regarding bank capital requirements that took effect on April 1. It has to do with a clunky requirement called the supplementary leverage ratio, which is intended to prevent banks from taking on too much debt to acquire assets. The fear, of course, is that the assets will lose value and make the banks insolvent. The supplementary ratio, in its clunky way, treats all assets as equally risky, even though of course they aren’t: Treasury bonds and reserves at the Fed are extremely safe.\nWhen the Covid-19 crisis hit last year, regulators waived the rule, temporarily excluding banks’ holdings of Treasury bonds and reserves from the supplementary leverage ratio calculation. But the waiver ended on March 31 of this year, so banks once again have an incentive not to take in a lot of funds (such as deposits) to acquire a lot of assets (such as Treasuries and reserves). A related rule that’s getting the biggest banks to push away deposits is the capital surcharge for global systemically important banks.\nThe Fed itself is increasing the pressure on the system by continuing to buy $120 billion a month of Treasuries and mortgage-backed securities to push down long-term interest rates. The money the Fed pays out, instead of going into bank deposits, is winding up in money market mutual funds, and then circulating into the Fed’s deposit facility, which consists of overnight reverse repurchase agreements.\nOne problem with this situation is that the Fed is taking over what used to be a mostly private function. If money market funds get used to keeping a lot of their money at the Fed instead of investing in, say, the commercial paper of private companies, they may switch even more money to the Fed in some future crisis, depriving the private sector of needed funds. This isn’t just a theoretical concern—companies lost access to funding in the global financial crisis of 2007-09.\nThe Bank Policy Institute quotes from a 2015 Fed staffworking paper:\n“Most importantly, a permanently expanded role for the Federal Reserve in short-term funding markets could reshape the financial industry in ways that may be difficult to anticipate and that may prove to be undesirable. For example, a permanent or long-lasting facility that causes very significant crowding out of short-term financing could lead to atrophying of the private infrastructure that supports these markets. Partially in response to some of these concerns, the FOMC has made clear that an ON RRP facility is not intended to be permanent.”\nExcept now the overnight reverse repurchase facility seemingly is permanent, or at least long-lasting—and large.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882643308,"gmtCreate":1631690299204,"gmtModify":1631890037540,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaaaw","listText":"woooooooaaaw","text":"woooooooaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/882643308","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p>\n<p>Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p>\n<p>So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p>\n<p>“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p>\n<p>The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p>\n<p>“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p>\n<p>The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p>\n<p>U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p>\n<p>The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p>\n<p>The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p>\n<p>All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p>\n<p>Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p>\n<p>Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p>\n<p>CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p>\n<p>Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</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>U.S. stocks close lower on worries over recovery, corporate tax hikes</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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">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",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880447279,"gmtCreate":1631076416691,"gmtModify":1631890037564,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaaw","listText":"wooooooaaaaw","text":"wooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/880447279","repostId":"1148263008","repostType":4,"repost":{"id":"1148263008","pubTimestamp":1631073672,"share":"https://www.laohu8.com/m/news/1148263008?lang=&edition=full","pubTime":"2021-09-08 12:01","market":"us","language":"en","title":"Toshiba Undecided on Privatization Amid Talks With Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=1148263008","media":"Bloomberg","summary":"Board hasn’t decided on ‘most appropriate course of action’\nTroubled conglomerate gives update on it","content":"<ul>\n <li>Board hasn’t decided on ‘most appropriate course of action’</li>\n <li>Troubled conglomerate gives update on its strategic review</li>\n</ul>\n<p>Toshiba Corp.’s board is yet to reach a decision on whether the troubled conglomerate should pursue going private, as talks with investors on the company’s strategic direction continue.</p>\n<p>The board “has not yet decided on the most appropriate course of action and is continuing to explore feasible strategic alternatives,” Toshiba&nbsp;said&nbsp;Wednesday. Its panel exploring strategic alternatives has been engaged in active dialogue with potential investors, but there are “multiple issues” related to a potential privatization to be resolved, the company said.</p>\n<p>Toshiba started weighing options including privatizationin Mayafter weeks of takeover discussions sparked by private equity firm CVC Capital Partners’ $21 billion acquisition bid. Investors including 3D Investment Partners have pressured the Japanese energy-to-electronics conglomerate to conduct a full strategic review and explore any serious interest in the company to rebuild shareholder trust.</p>\n<p>Shares of Toshiba were&nbsp;little changed&nbsp;in early afternoon trading in Tokyo. They have advanced about 5% since the company kicked off the review, saying that it had appointed UBS as financial adviser and that it would consider potential offers. The company deemed the CVC proposal&nbsp;insufficiently detailed&nbsp;to evaluate.</p>\n<p>The search for a new chief executive officer is progressing, with the company saying it’ll narrow down a list of candidates in the coming months. Its previous CEO, Nobuaki Kurumatani, stepped down in April after he suffered a sharp drop in support from employees and executives. In June, shareholders voted to oust Chairman of the Board Osamu Nagayama in a rare triumph for activist investors.</p>\n<p>Once a storied name in Japan, Toshiba has faded dramatically after years of management missteps. It paid a record fine in an accounting scandal and then lost billions on a bungled foray into nuclear power. The conglomerate invented flash memory three decades ago, but was forced to sell most of its prized chip business in 2018 because of losses in its nuclear-power operation.</p>\n<p></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>Toshiba Undecided on Privatization Amid Talks With Investors</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\">\nToshiba Undecided on Privatization Amid Talks With Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/toshiba-panel-has-evaluated-privatization-board-undecided?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Board hasn’t decided on ‘most appropriate course of action’\nTroubled conglomerate gives update on its strategic review\n\nToshiba Corp.’s board is yet to reach a decision on whether the troubled ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/toshiba-panel-has-evaluated-privatization-board-undecided?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TOSYY":"东芝"},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/toshiba-panel-has-evaluated-privatization-board-undecided?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148263008","content_text":"Board hasn’t decided on ‘most appropriate course of action’\nTroubled conglomerate gives update on its strategic review\n\nToshiba Corp.’s board is yet to reach a decision on whether the troubled conglomerate should pursue going private, as talks with investors on the company’s strategic direction continue.\nThe board “has not yet decided on the most appropriate course of action and is continuing to explore feasible strategic alternatives,” Toshiba said Wednesday. Its panel exploring strategic alternatives has been engaged in active dialogue with potential investors, but there are “multiple issues” related to a potential privatization to be resolved, the company said.\nToshiba started weighing options including privatizationin Mayafter weeks of takeover discussions sparked by private equity firm CVC Capital Partners’ $21 billion acquisition bid. Investors including 3D Investment Partners have pressured the Japanese energy-to-electronics conglomerate to conduct a full strategic review and explore any serious interest in the company to rebuild shareholder trust.\nShares of Toshiba were little changed in early afternoon trading in Tokyo. They have advanced about 5% since the company kicked off the review, saying that it had appointed UBS as financial adviser and that it would consider potential offers. The company deemed the CVC proposal insufficiently detailed to evaluate.\nThe search for a new chief executive officer is progressing, with the company saying it’ll narrow down a list of candidates in the coming months. Its previous CEO, Nobuaki Kurumatani, stepped down in April after he suffered a sharp drop in support from employees and executives. In June, shareholders voted to oust Chairman of the Board Osamu Nagayama in a rare triumph for activist investors.\nOnce a storied name in Japan, Toshiba has faded dramatically after years of management missteps. It paid a record fine in an accounting scandal and then lost billions on a bungled foray into nuclear power. The conglomerate invented flash memory three decades ago, but was forced to sell most of its prized chip business in 2018 because of losses in its nuclear-power operation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817472861,"gmtCreate":1630984526653,"gmtModify":1631890037566,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaaaaw","listText":"woooooooaaaaw","text":"woooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/817472861","repostId":"1170846245","repostType":4,"repost":{"id":"1170846245","pubTimestamp":1630983881,"share":"https://www.laohu8.com/m/news/1170846245?lang=&edition=full","pubTime":"2021-09-07 11:04","market":"us","language":"en","title":"Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1170846245","media":"Seeking Alpha","summary":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determ","content":"<p><b>Summary</b></p>\n<ul>\n <li>The company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.</li>\n <li>It is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.</li>\n <li>We determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.</li>\n <li>Despite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4a1c53ba379b52dcd7584cb55a0b11a\" tg-width=\"1536\" tg-height=\"1053\" referrerpolicy=\"no-referrer\"><span>David Becker/Getty Images News</span></p>\n<p>Since our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our&nbsp;expectations&nbsp;of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.</p>\n<p>The main segments of the company contributing to its high growth were the Data center &amp; Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.</p>\n<p>Finally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/620b8212ee6f5ba62d2f6ac3f3e7be2c\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia</span></p>\n<p><b>AI Leadership ensures High Growth Across Key Data Centre Segment</b></p>\n<p>The increasing volumes of data created will fuel&nbsp;data center&nbsp;growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing&nbsp;would require massive computing infrastructure.</p>\n<p>Driven by the advent of AI, HPC, IoT and edge computing,data creation&nbsp;is projected to grow at a rate of&nbsp;around&nbsp;23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65dce37578817882262e6dc751775292\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, Khaveen Investments</span></p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Volume of Data Worldwide</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenues ($ bln)</p></td>\n   <td><p>32</p></td>\n   <td><p>46.5</p></td>\n   <td><p>69</p></td>\n   <td><p>96</p></td>\n   <td><p>129.5</p></td>\n   <td><p>178.9</p></td>\n   <td><p>246.3</p></td>\n   <td><p>342.9</p></td>\n   <td><p>470.6</p></td>\n   <td><p>650.6</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenue Growth %<b><i>('a')</i></b></p></td>\n   <td><p>52%</p></td>\n   <td><p>45%</p></td>\n   <td><p>48%</p></td>\n   <td><p>39%</p></td>\n   <td><p>35%</p></td>\n   <td><p>38%</p></td>\n   <td><p>38%</p></td>\n   <td><p>39%</p></td>\n   <td><p>37%</p></td>\n   <td><p>38%</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume (ZB)</p></td>\n   <td><p>18</p></td>\n   <td><p>26</p></td>\n   <td><p>33</p></td>\n   <td><p>41</p></td>\n   <td><p>64.2</p></td>\n   <td><p>79</p></td>\n   <td><p>97</p></td>\n   <td><p>120</p></td>\n   <td><p>147</p></td>\n   <td><p>181</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume Growth %<b><i>('b')</i></b></p></td>\n   <td><p>16%</p></td>\n   <td><p>44%</p></td>\n   <td><p>27%</p></td>\n   <td><p>24%</p></td>\n   <td><p>57%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n   <td><p>24%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Revenue Growth/Data Volume Growth Factor<i><b>('c')</b></i></p></td>\n   <td><p>3.25</p></td>\n   <td><p>1.02</p></td>\n   <td><p>1.80</p></td>\n   <td><p>1.61</p></td>\n   <td><p>0.62</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*A =C x B</i></p>\n<p><i>Source:Statista, Khaveen Investments</i></p>\n<p>As mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.</p>\n<p>We view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia&nbsp;aims&nbsp;to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its&nbsp;AI-enabled&nbsp;Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive&nbsp;design wins. Notwithstanding, Nvidia’s automotive segment only&nbsp;represents&nbsp;3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently&nbsp;announced&nbsp;that its AI-powered&nbsp;DGX server&nbsp;has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f6012b1f26e3dc39c6d52fa790b5723c\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"><span>Source: Statista</span></p>\n<p>As data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one&nbsp;costing&nbsp;a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s&nbsp;fastest&nbsp;AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Cloud Providers Capex ($ mln)</b></p></td>\n   <td><p><b>2011</b></p></td>\n   <td><p><b>2012</b></p></td>\n   <td><p><b>2013</b></p></td>\n   <td><p><b>2014</b></p></td>\n   <td><p><b>2015</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Amazon</p></td>\n   <td><p>3,785</p></td>\n   <td><p>3,444</p></td>\n   <td><p>4,893</p></td>\n   <td><p>5,387</p></td>\n   <td><p>7,804</p></td>\n   <td><p>11,955</p></td>\n   <td><p>13,427</p></td>\n   <td><p>16,861</p></td>\n   <td><p>40,140</p></td>\n   <td><p>45,427</p></td>\n  </tr>\n  <tr>\n   <td><p>Microsoft</p></td>\n   <td><p>2,355</p></td>\n   <td><p>2,305</p></td>\n   <td><p>4,257</p></td>\n   <td><p>5,485</p></td>\n   <td><p>5,944</p></td>\n   <td><p>8,343</p></td>\n   <td><p>8,129</p></td>\n   <td><p>11,632</p></td>\n   <td><p>13,925</p></td>\n   <td><p>15,441</p></td>\n  </tr>\n  <tr>\n   <td><p>Google</p></td>\n   <td><p>3,438</p></td>\n   <td><p>3,273</p></td>\n   <td><p>7,358</p></td>\n   <td><p>11,014</p></td>\n   <td><p>9,950</p></td>\n   <td><p>10,212</p></td>\n   <td><p>13,184</p></td>\n   <td><p>25,139</p></td>\n   <td><p>23,548</p></td>\n   <td><p>22,281</p></td>\n  </tr>\n  <tr>\n   <td><p>Alibaba</p></td>\n   <td><p>403</p></td>\n   <td><p>768</p></td>\n   <td><p>1,243</p></td>\n   <td><p>1,680</p></td>\n   <td><p>1,598</p></td>\n   <td><p>3,129</p></td>\n   <td><p>5,287</p></td>\n   <td><p>4,596</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total (Top 4)</b></p></td>\n   <td><p><b>9,578</b></p></td>\n   <td><p><b>9,022</b></p></td>\n   <td><p><b>16,911</b></p></td>\n   <td><p><b>22,654</b></p></td>\n   <td><p><b>24,941</b></p></td>\n   <td><p><b>32,190</b></p></td>\n   <td><p><b>36,338</b></p></td>\n   <td><p><b>56,761</b></p></td>\n   <td><p><b>82,900</b></p></td>\n   <td><p><b>87,745</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments</i></p>\n<p>We then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are&nbsp;deployed&nbsp;in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/972996ded01571c84ee7d865f95435f9\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments</span></p>\n<p><b>Continuous Performance Excellence Leads to Continuous Pricing Premium</b></p>\n<p>Nvidia’s Gaming segment revenue growth has&nbsp;averaged&nbsp;a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas&nbsp;shipments&nbsp;growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5ed7f76f27711b67ba1d494638a060a\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, JPR, Khaveen Investments</span></p>\n<p>Based on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC&nbsp;prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its&nbsp;refreshed&nbsp;Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments&nbsp;CAGR&nbsp;of 3% through 2025.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Gaming PC Share of Market Revenues</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>High End</p></td>\n   <td><p>43%</p></td>\n   <td><p>47%</p></td>\n  </tr>\n  <tr>\n   <td><p>Mid-Range</p></td>\n   <td><p>35%</p></td>\n   <td><p>34%</p></td>\n  </tr>\n  <tr>\n   <td><p>Entry Level</p></td>\n   <td><p>22%</p></td>\n   <td><p>19%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:JPR</i></p>\n<p>However, every year, Nvidia releases a new product lineup offering better performance against the previous models. From&nbsp;GPU&nbsp;Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000&nbsp;series&nbsp;a successor to its current lineup. One of the major significant upgrades anticipated is the&nbsp;switch&nbsp;towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c0ab0660f3bc9b1ab75ae03877a268d\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, GPU Checker, Khaveen Investments</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82397f7b6f6e1ac39d9771917dfbfb12\" tg-width=\"455\" tg-height=\"691\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR, GPU Checker</span></p>\n<p>All in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5%&nbsp;CAGR&nbsp;through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1cb4092eda26a27e19113abde9ffe4e5\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR</span></p>\n<table>\n <tbody></tbody>\n</table>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Annualized Nvidia</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Shipments<b><i>('a')</i></b></p></td>\n   <td><p>34.76</p></td>\n   <td><p>37.67</p></td>\n   <td><p>33.58</p></td>\n   <td><p>27.68</p></td>\n   <td><p>31.95</p></td>\n   <td><p>43.45</p></td>\n   <td><p>44.97</p></td>\n   <td><p>46.55</p></td>\n   <td><p>48.18</p></td>\n   <td><p>49.86</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Shipments Growth %</b></p></td>\n   <td><p><b>-1%</b></p></td>\n   <td><p><b>8%</b></p></td>\n   <td><p><b>-11%</b></p></td>\n   <td><p><b>-18%</b></p></td>\n   <td><p><b>15%</b></p></td>\n   <td><p><b>36.0%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n  </tr>\n  <tr>\n   <td><p>ASPs<b><i>('b')</i></b></p></td>\n   <td><p>116.8</p></td>\n   <td><p>146.4</p></td>\n   <td><p>186.1</p></td>\n   <td><p>199.4</p></td>\n   <td><p>242.8</p></td>\n   <td><p>300.4</p></td>\n   <td><p>371.5</p></td>\n   <td><p>459.5</p></td>\n   <td><p>568.3</p></td>\n   <td><p>702.8</p></td>\n  </tr>\n  <tr>\n   <td><p><b>ASP Growth %</b></p></td>\n   <td><p><b>45%</b></p></td>\n   <td><p><b>25%</b></p></td>\n   <td><p><b>27%</b></p></td>\n   <td><p><b>7%</b></p></td>\n   <td><p><b>22%</b></p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming Revenues ($ mln)<b><i>('c')</i></b></p></td>\n   <td><p>4,060</p></td>\n   <td><p>5,513</p></td>\n   <td><p>6,250</p></td>\n   <td><p>5,518</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gaming Revenues Growth %</b></p></td>\n   <td><p><b>44.1%</b></p></td>\n   <td><p><b>35.8%</b></p></td>\n   <td><p><b>13.4%</b></p></td>\n   <td><p><b>-11.7%</b></p></td>\n   <td><p><b>40.6%</b></p></td>\n   <td><p><b>68.2%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*C = A x B</i></p>\n<p><i>Source: Nvidia,Statista,JPR,WCCF Tech</i></p>\n<p><b>Growth From Arm Regardless of Acquisition Approval</b></p>\n<p>Already a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.</p>\n<p>That said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&amp;A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Post-Merger HHI</b></p></td>\n   <td><p><b>Change from Premerger HHI</b></p></td>\n   <td><p><b>Antitrust Action</b></p></td>\n  </tr>\n  <tr>\n   <td><p>HHI &lt; 1000</p><p>Not concentrated,</p></td>\n   <td><p>Any</p></td>\n   <td><p>No action likely</p></td>\n  </tr>\n  <tr>\n   <td><p>1000 &lt; HHI &lt; 1800</p><p>Moderately Concentrated,</p></td>\n   <td><p>&gt;100</p></td>\n   <td><p>Moderately Concentrated, Possible Action</p></td>\n  </tr>\n  <tr>\n   <td><p>1800 &lt; HHI</p><p>Highly Concentrated,</p></td>\n   <td><p>&gt;50</p></td>\n   <td><p>Challenge very Likely</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:OpenTextBC</i></p>\n<p>For the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25d0e917d9b288aacef22216402afb43\" tg-width=\"906\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>Source: Statista, PCMag</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Similarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2437536c9440e5a297dd29bf0fa530b8\" tg-width=\"906\" tg-height=\"508\" width=\"100%\" height=\"auto\"><span>Source: Nextplatform, Itcandor</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>If we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.</p>\n<blockquote>\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n <i>Jen-Hsun Huang,CEO of Nvidia</i>\n</blockquote>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Server CPU Market Share Pre-Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n   <td><p><b>Server CPU Post Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Intel</p></td>\n   <td><p>78%</p></td>\n   <td><p>78</p></td>\n   <td><p>6084</p></td>\n   <td><p>Intel</p></td>\n   <td><p>77%</p></td>\n   <td><p>77</p></td>\n   <td><p>5929</p></td>\n  </tr>\n  <tr>\n   <td><p>AMD</p></td>\n   <td><p>9%</p></td>\n   <td><p>9</p></td>\n   <td><p>81</p></td>\n   <td><p>AMD</p></td>\n   <td><p>8%</p></td>\n   <td><p>8</p></td>\n   <td><p>64</p></td>\n  </tr>\n  <tr>\n   <td><p>Arm</p></td>\n   <td><p>13%</p></td>\n   <td><p>13</p></td>\n   <td><p>169</p></td>\n   <td><p>Arm</p></td>\n   <td><p>12%</p></td>\n   <td><p>12</p></td>\n   <td><p>144</p></td>\n  </tr>\n  <tr>\n   <td><p>-</p></td>\n   <td><p>Nvidia</p></td>\n   <td><p>3%</p></td>\n   <td><p>3</p></td>\n   <td><p>9</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6334</b></p></td>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6146</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nextplatform, Itcandor, Khaveen Investments</i></p>\n<p>Furthermore, Nvidia’s acquisition comes at a time when M&amp;A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15f3619d3f243fbda6bedc37d7bb89c\" tg-width=\"482\" tg-height=\"246\" width=\"100%\" height=\"auto\"><span>Source:Design&amp;Reuse</span></p>\n<p><b>Acquisition Approval Risk</b></p>\n<p>Initially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:</p>\n<ul>\n <li>Tensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future</li>\n <li>The intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property</li>\n <li>European authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence</li>\n</ul>\n<p>While management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.</p>\n<blockquote>\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n <i>- Nvidia CFOColette Kress</i>\n</blockquote>\n<p>A breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.</p>\n<p>It is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.</p>\n<p><b>Valuation</b></p>\n<p>The company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3bfb1b7c9d729426c5e3c88230e32091\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>In terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de12e328a7e3922a8cb21f9f53b77128\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>Moreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.</p>\n<p>We valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Average Chipmaker Revenue CAGR (5Yrs)</b></p></td>\n   <td><p><b>PS Ratio</b></p></td>\n  </tr>\n  <tr>\n   <td><p>35%+</p></td>\n   <td><p>25.07</p></td>\n  </tr>\n  <tr>\n   <td><p>30%-35%</p></td>\n   <td><p>22.03</p></td>\n  </tr>\n  <tr>\n   <td><p>25%-30%</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>20%-25%</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>15% -20%</p></td>\n   <td><p>11.73</p></td>\n  </tr>\n  <tr>\n   <td><p>10%-15%</p></td>\n   <td><p>7.52</p></td>\n  </tr>\n  <tr>\n   <td><p>0%-10%</p></td>\n   <td><p>6.76</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: SeekingAlpha, Khaveen Investments</i></p>\n<p>Firstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Nvidia Revenue Forecast Without Arm ($ mln)</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>1,053</p></td>\n   <td><p>1,782</p></td>\n   <td><p>1,957</p></td>\n   <td><p>2,148</p></td>\n   <td><p>2,359</p></td>\n   <td><p>2,590</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>6,696</p></td>\n   <td><p>9,649</p></td>\n   <td><p>11,727</p></td>\n   <td><p>14,410</p></td>\n   <td><p>17,452</p></td>\n   <td><p>21,298</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>536</p></td>\n   <td><p>654</p></td>\n   <td><p>798</p></td>\n   <td><p>973</p></td>\n   <td><p>1,187</p></td>\n   <td><p>1,449</p></td>\n  </tr>\n  <tr>\n   <td><p>OEM and Other</p></td>\n   <td><p>631</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>16,675</b></p></td>\n   <td><p><b>26,608</b></p></td>\n   <td><p><b>32,660</b></p></td>\n   <td><p><b>40,390</b></p></td>\n   <td><p><b>49,847</b></p></td>\n   <td><p><b>61,853</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Growth %</b></p></td>\n   <td><p><b>53%</b></p></td>\n   <td><p>59.6%</p></td>\n   <td><p>22.7%</p></td>\n   <td><p>23.7%</p></td>\n   <td><p>23.4%</p></td>\n   <td><p>24.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p>In addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Synergies ($ mln)</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>742</p></td>\n   <td><p>1,993</p></td>\n   <td><p>4,018</p></td>\n   <td><p>6,327</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>90</p></td>\n   <td><p>205</p></td>\n   <td><p>351</p></td>\n   <td><p>489</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>459</p></td>\n   <td><p>1,406</p></td>\n   <td><p>3,230</p></td>\n   <td><p>5,694</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>25</p></td>\n   <td><p>69</p></td>\n   <td><p>140</p></td>\n   <td><p>207</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total Synergies</b></p></td>\n   <td><p><b>1,316</b></p></td>\n   <td><p><b>3,673</b></p></td>\n   <td><p><b>7,739</b></p></td>\n   <td><p><b>12,717</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Arm Revenues</b></p></td>\n   <td><p><b>2,145</b></p></td>\n   <td><p><b>2,280</b></p></td>\n   <td><p><b>2,423</b></p></td>\n   <td><p><b>2,576</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p><b>Bear Case</b></p>\n<p>The bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bear Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>33,995</p></td>\n   <td><p>42,265</p></td>\n   <td><p>52,607</p></td>\n   <td><p>65,685</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>27.8%</p></td>\n   <td><p>24.3%</p></td>\n   <td><p>24.5%</p></td>\n   <td><p>24.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>680,022</p></td>\n   <td><p>674,119</p></td>\n   <td><p>839,081</p></td>\n   <td><p>1,047,673</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$273.10</b></p></td>\n   <td><p><b>$270.73</b></p></td>\n   <td><p><b>$336.98</b></p></td>\n   <td><p><b>$420.75</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>21.9%</b></p></td>\n   <td><p><b>20.9%</b></p></td>\n   <td><p><b>50.5%</b></p></td>\n   <td><p><b>87.9%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Base Case</b></p>\n<p>Whereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Base Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>34,927</p></td>\n   <td><p>43,937</p></td>\n   <td><p>55,534</p></td>\n   <td><p>70,144</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>31.3%</p></td>\n   <td><p>25.8%</p></td>\n   <td><p>26.4%</p></td>\n   <td><p>26.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>769,432</p></td>\n   <td><p>878,877</p></td>\n   <td><p>1,110,874</p></td>\n   <td><p>1,403,114</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$309.01</b></p></td>\n   <td><p><b>$352.96</b></p></td>\n   <td><p><b>$446.13</b></p></td>\n   <td><p><b>$563.50</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>38.0%</b></p></td>\n   <td><p><b>57.6%</b></p></td>\n   <td><p><b>99.2%</b></p></td>\n   <td><p><b>151.6%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Bull Case</b></p>\n<p>Finally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bull Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>36,384</p></td>\n   <td><p>47,078</p></td>\n   <td><p>61,558</p></td>\n   <td><p>79,690</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>36.7%</p></td>\n   <td><p>29.4%</p></td>\n   <td><p>30.8%</p></td>\n   <td><p>29.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>912,153</p></td>\n   <td><p>941,714</p></td>\n   <td><p>1,356,113</p></td>\n   <td><p>1,594,068</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$366.33</b></p></td>\n   <td><p><b>$378.20</b></p></td>\n   <td><p><b>$544.62</b></p></td>\n   <td><p><b>$640.19</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>63.6%</b></p></td>\n   <td><p><b>68.9%</b></p></td>\n   <td><p><b>143.2%</b></p></td>\n   <td><p><b>185.8%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8db79f76b76c1204c2fcb9cbcc04f1e2\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Khaveen Investments</span></p>\n<p>Our 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>1-year Average Price Target</b></p></td>\n   <td><p><b>Target Price</b></p></td>\n   <td><p><b>Current Price</b></p></td>\n   <td><p><b>Upside</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Bear Case</p></td>\n   <td><p>$270.50</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>20.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Base Case</p></td>\n   <td><p>$288.45</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>28.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Bull Case</p></td>\n   <td><p>$317.11</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>41.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Verdict</b></p>\n<p>To sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&amp;D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as a<i>Buy</i>with a target price of<i>$288.45.</i></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>Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth</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; 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}\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: AI Leadership Key To Continuous Double-Digit Stock Price Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170846245","content_text":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.\nWe determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.\nDespite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.\n\nDavid Becker/Getty Images News\nSince our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our expectations of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.\nThe main segments of the company contributing to its high growth were the Data center & Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.\nFinally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.\nSource: Nvidia\nAI Leadership ensures High Growth Across Key Data Centre Segment\nThe increasing volumes of data created will fuel data center growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing would require massive computing infrastructure.\nDriven by the advent of AI, HPC, IoT and edge computing,data creation is projected to grow at a rate of around 23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.\nSource: Statista, Khaveen Investments\n\n\n\nVolume of Data Worldwide\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nCloud Infrastructure Market Revenues ($ bln)\n32\n46.5\n69\n96\n129.5\n178.9\n246.3\n342.9\n470.6\n650.6\n\n\nCloud Infrastructure Market Revenue Growth %('a')\n52%\n45%\n48%\n39%\n35%\n38%\n38%\n39%\n37%\n38%\n\n\nData Volume (ZB)\n18\n26\n33\n41\n64.2\n79\n97\n120\n147\n181\n\n\nData Volume Growth %('b')\n16%\n44%\n27%\n24%\n57%\n23%\n23%\n24%\n23%\n23%\n\n\nCloud Infrastructure Revenue Growth/Data Volume Growth Factor('c')\n3.25\n1.02\n1.80\n1.61\n0.62\n1.65\n1.65\n1.65\n1.65\n1.65\n\n\n\n*A =C x B\nSource:Statista, Khaveen Investments\nAs mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.\nWe view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia aims to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its AI-enabled Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive design wins. Notwithstanding, Nvidia’s automotive segment only represents 3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently announced that its AI-powered DGX server has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.\nSource: Statista\nAs data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one costing a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s fastest AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.\n\n\n\nCloud Providers Capex ($ mln)\n2011\n2012\n2013\n2014\n2015\n2016\n2017\n2018\n2019\n2020\n\n\nAmazon\n3,785\n3,444\n4,893\n5,387\n7,804\n11,955\n13,427\n16,861\n40,140\n45,427\n\n\nMicrosoft\n2,355\n2,305\n4,257\n5,485\n5,944\n8,343\n8,129\n11,632\n13,925\n15,441\n\n\nGoogle\n3,438\n3,273\n7,358\n11,014\n9,950\n10,212\n13,184\n25,139\n23,548\n22,281\n\n\nAlibaba\n403\n768\n1,243\n1,680\n1,598\n3,129\n5,287\n4,596\n\n\nTotal (Top 4)\n9,578\n9,022\n16,911\n22,654\n24,941\n32,190\n36,338\n56,761\n82,900\n87,745\n\n\n\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments\nWe then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are deployed in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments\nContinuous Performance Excellence Leads to Continuous Pricing Premium\nNvidia’s Gaming segment revenue growth has averaged a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas shipments growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.\nSource: Statista, JPR, Khaveen Investments\nBased on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its refreshed Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments CAGR of 3% through 2025.\n\n\n\nGaming PC Share of Market Revenues\n2016\n2020\n\n\nHigh End\n43%\n47%\n\n\nMid-Range\n35%\n34%\n\n\nEntry Level\n22%\n19%\n\n\n\nSource:JPR\nHowever, every year, Nvidia releases a new product lineup offering better performance against the previous models. From GPU Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000 series a successor to its current lineup. One of the major significant upgrades anticipated is the switch towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.\nSource: Statista, GPU Checker, Khaveen Investments\nSource: Nvidia, Statista, JPR, GPU Checker\nAll in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5% CAGR through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.\nSource: Nvidia, Statista, JPR\n\n\n\n\n\n\nAnnualized Nvidia\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nShipments('a')\n34.76\n37.67\n33.58\n27.68\n31.95\n43.45\n44.97\n46.55\n48.18\n49.86\n\n\nShipments Growth %\n-1%\n8%\n-11%\n-18%\n15%\n36.0%\n3.5%\n3.5%\n3.5%\n3.5%\n\n\nASPs('b')\n116.8\n146.4\n186.1\n199.4\n242.8\n300.4\n371.5\n459.5\n568.3\n702.8\n\n\nASP Growth %\n45%\n25%\n27%\n7%\n22%\n24%\n24%\n24%\n24%\n24%\n\n\nGaming Revenues ($ mln)('c')\n4,060\n5,513\n6,250\n5,518\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nGaming Revenues Growth %\n44.1%\n35.8%\n13.4%\n-11.7%\n40.6%\n68.2%\n28.0%\n28.0%\n28.0%\n28.0%\n\n\n\n*C = A x B\nSource: Nvidia,Statista,JPR,WCCF Tech\nGrowth From Arm Regardless of Acquisition Approval\nAlready a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.\nThat said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.\n\n\n\nPost-Merger HHI\nChange from Premerger HHI\nAntitrust Action\n\n\nHHI < 1000Not concentrated,\nAny\nNo action likely\n\n\n1000 < HHI < 1800Moderately Concentrated,\n>100\nModerately Concentrated, Possible Action\n\n\n1800 < HHIHighly Concentrated,\n>50\nChallenge very Likely\n\n\n\nSource:OpenTextBC\nFor the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.\nSource: Statista, PCMag\n\n\n\n\n\nSimilarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.\nSource: Nextplatform, Itcandor\n\n\n\n\n\nIf we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.\n\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n Jen-Hsun Huang,CEO of Nvidia\n\n\n\n\nServer CPU Market Share Pre-Acquisition\nShare\ns\ns^2\nServer CPU Post Acquisition\nShare\ns\ns^2\n\n\nIntel\n78%\n78\n6084\nIntel\n77%\n77\n5929\n\n\nAMD\n9%\n9\n81\nAMD\n8%\n8\n64\n\n\nArm\n13%\n13\n169\nArm\n12%\n12\n144\n\n\n-\nNvidia\n3%\n3\n9\n\n\nTotal\n6334\nTotal\n6146\n\n\n\nSource: Nextplatform, Itcandor, Khaveen Investments\nFurthermore, Nvidia’s acquisition comes at a time when M&A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.\nSource:Design&Reuse\nAcquisition Approval Risk\nInitially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:\n\nTensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future\nThe intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property\nEuropean authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence\n\nWhile management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.\n\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n - Nvidia CFOColette Kress\n\nA breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.\nIt is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.\nValuation\nThe company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.\nSource: Nvidia, Khaveen Investments\nIn terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.\nSource: Nvidia, Khaveen Investments\nMoreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.\nWe valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.\n\n\n\nAverage Chipmaker Revenue CAGR (5Yrs)\nPS Ratio\n\n\n35%+\n25.07\n\n\n30%-35%\n22.03\n\n\n25%-30%\n20.00\n\n\n20%-25%\n15.95\n\n\n15% -20%\n11.73\n\n\n10%-15%\n7.52\n\n\n0%-10%\n6.76\n\n\n\nSource: SeekingAlpha, Khaveen Investments\nFirstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.\n\n\n\nNvidia Revenue Forecast Without Arm ($ mln)\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nProfessional Visualization\n1,053\n1,782\n1,957\n2,148\n2,359\n2,590\n\n\nData Center\n6,696\n9,649\n11,727\n14,410\n17,452\n21,298\n\n\nAutomotive\n536\n654\n798\n973\n1,187\n1,449\n\n\nOEM and Other\n631\n1,472\n1,472\n1,472\n1,472\n1,472\n\n\nTotal\n16,675\n26,608\n32,660\n40,390\n49,847\n61,853\n\n\nGrowth %\n53%\n59.6%\n22.7%\n23.7%\n23.4%\n24.1%\n\n\n\nSource: Nvidia, Khaveen Investments\nIn addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.\n\n\n\nSynergies ($ mln)\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n742\n1,993\n4,018\n6,327\n\n\nProfessional Visualization\n90\n205\n351\n489\n\n\nData Center\n459\n1,406\n3,230\n5,694\n\n\nAutomotive\n25\n69\n140\n207\n\n\nTotal Synergies\n1,316\n3,673\n7,739\n12,717\n\n\nArm Revenues\n2,145\n2,280\n2,423\n2,576\n\n\n\nSource: Nvidia, Khaveen Investments\nBear Case\nThe bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.\n\n\n\nBear Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n33,995\n42,265\n52,607\n65,685\n\n\nGrowth %\n59.6%\n27.8%\n24.3%\n24.5%\n24.9%\n\n\nP/S Ratio\n25.07\n20.00\n15.95\n15.95\n15.95\n\n\nValuation ($ mln)\n667,068\n680,022\n674,119\n839,081\n1,047,673\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$273.10\n$270.73\n$336.98\n$420.75\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n21.9%\n20.9%\n50.5%\n87.9%\n\n\n\nSource: Khaveen Investments\nBase Case\nWhereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.\n\n\n\nBase Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n34,927\n43,937\n55,534\n70,144\n\n\nGrowth %\n59.6%\n31.3%\n25.8%\n26.4%\n26.3%\n\n\nP/S Ratio\n25.07\n22.03\n20.00\n20.00\n20.00\n\n\nValuation ($ mln)\n667,068\n769,432\n878,877\n1,110,874\n1,403,114\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$309.01\n$352.96\n$446.13\n$563.50\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n38.0%\n57.6%\n99.2%\n151.6%\n\n\n\nSource: Khaveen Investments\nBull Case\nFinally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.\n\n\n\nBull Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n36,384\n47,078\n61,558\n79,690\n\n\nGrowth %\n59.6%\n36.7%\n29.4%\n30.8%\n29.5%\n\n\nP/S Ratio\n25.07\n25.07\n20.00\n22.03\n20.00\n\n\nValuation ($ mln)\n667,068\n912,153\n941,714\n1,356,113\n1,594,068\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$366.33\n$378.20\n$544.62\n$640.19\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n63.6%\n68.9%\n143.2%\n185.8%\n\n\n\nSource: Khaveen Investments\nSource: Khaveen Investments\nOur 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.\n\n\n\n1-year Average Price Target\nTarget Price\nCurrent Price\nUpside\n\n\nBear Case\n$270.50\n$223.96\n20.8%\n\n\nBase Case\n$288.45\n$223.96\n28.8%\n\n\nBull Case\n$317.11\n$223.96\n41.6%\n\n\n\nSource: Khaveen Investments\nVerdict\nTo sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as aBuywith a target price of$288.45.","news_type":1},"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815987337,"gmtCreate":1630635954329,"gmtModify":1631892631836,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooaaaaw","listText":"woooooaaaaw","text":"woooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815987337","repostId":"2164829818","repostType":4,"repost":{"id":"2164829818","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":1630615505,"share":"https://www.laohu8.com/m/news/2164829818?lang=&edition=full","pubTime":"2021-09-03 04:45","market":"us","language":"en","title":"S&P, Nasdaq edge to record closes, energy stocks buoyant","url":"https://stock-news.laohu8.com/highlight/detail?id=2164829818","media":"Reuters","summary":"Energy stocks rally on oil price gains\nWeekly jobless claims fall\nIndexes up: Dow 0.37%, S&P 0.28%, ","content":"<ul>\n <li>Energy stocks rally on oil price gains</li>\n <li>Weekly jobless claims fall</li>\n <li>Indexes up: Dow 0.37%, S&amp;P 0.28%, Nasdaq 0.14%</li>\n</ul>\n<p>Sept 2 (Reuters) - The S&amp;P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain, as higher commodity prices helped energy names recover ground and the latest jobs data left investors unfazed about existing positions.</p>\n<p>The energy sector rose 2.5%, reversing much of the loss suffered during the first three days of the week. Thursday's performance was fueled by U.S. crude prices jumping 2% on a sharp decline in U.S. inventories and a weaker dollar.</p>\n<p>Cabot Oil &amp; Gas Corp and Occidental Petroleum Corp&nbsp;were the largest risers, up 6.7% and 6% respectively, with oil majors Exxon Mobil and Chevron Corp both advancing more than 2%.</p>\n<p>The technology index slipped into negative territory, as some of the industry's largest companies saw their recent upward momentum stall.</p>\n<p>Amazon.com Inc, Microsoft Corp, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc and Google-owner Alphabet Inc all fell between 0.2% and 1.8%. A notable exception was Netflix Inc, which advanced 1.1% to close at an all-time high.</p>\n<p>U.S. stocks have regularly hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence.</p>\n<p>Still, each new data set is viewed through the prism of whether the numbers might influence the Federal Reserve's tapering timetable.</p>\n<p>\"I feel like sometimes we end up trying to read the tea-leaves too hard, and the Fed has been pretty good on communicating on (tapering),\" said Jason Pride, chief investment officer of private wealth at Glenmede, noting the Fed remains on the path to begin tapering around year-end.</p>\n<p>Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labor Department's monthly jobs report on Friday to set the stage for the Fed's policy meeting later this month.</p>\n<p>\"You have to see very wide beats or misses in this data to really change people's minds,\" said Greg Boutle, U.S. head of equity and derivative strategy at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>\"Investors are either in this renormalization camp that thinks inflation will not happen, or they believe there will be some persistence to inflation. Really, it will be a collection of beats or misses that will move the needle for investors and the Fed, rather than a single data point.\"</p>\n<p>The Dow Jones Industrial Average rose 131.29 points, or 0.37%, to 35,443.82, the S&amp;P 500 gained 12.86 points, or 0.28%, to 4,536.95 and the Nasdaq Composite added 21.80 points, or 0.14%, to 15,331.18.</p>\n<p>Despite deadly flash floods in New York City, trading on Wall Street was operating normally.</p>\n<p>Wells Fargo rose 2.6% after three straight sessions of losses. The lender had been weighed by a report it could face further regulatory sanctions over the pace of compensating victims of a years-long sales practice scandal.</p>\n<p>Volume on U.S. exchanges was 9.23 billion shares, compared with the 9.01 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 78 new 52-week highs and <a href=\"https://laohu8.com/S/AONE.U\">one</a> new low; the Nasdaq Composite recorded 154 new highs and 14 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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, Nasdaq edge to record closes, energy stocks buoyant</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, Nasdaq edge to record closes, energy stocks buoyant\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\">2021-09-03 04:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Energy stocks rally on oil price gains</li>\n <li>Weekly jobless claims fall</li>\n <li>Indexes up: Dow 0.37%, S&amp;P 0.28%, Nasdaq 0.14%</li>\n</ul>\n<p>Sept 2 (Reuters) - The S&amp;P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain, as higher commodity prices helped energy names recover ground and the latest jobs data left investors unfazed about existing positions.</p>\n<p>The energy sector rose 2.5%, reversing much of the loss suffered during the first three days of the week. Thursday's performance was fueled by U.S. crude prices jumping 2% on a sharp decline in U.S. inventories and a weaker dollar.</p>\n<p>Cabot Oil &amp; Gas Corp and Occidental Petroleum Corp&nbsp;were the largest risers, up 6.7% and 6% respectively, with oil majors Exxon Mobil and Chevron Corp both advancing more than 2%.</p>\n<p>The technology index slipped into negative territory, as some of the industry's largest companies saw their recent upward momentum stall.</p>\n<p>Amazon.com Inc, Microsoft Corp, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc and Google-owner Alphabet Inc all fell between 0.2% and 1.8%. A notable exception was Netflix Inc, which advanced 1.1% to close at an all-time high.</p>\n<p>U.S. stocks have regularly hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence.</p>\n<p>Still, each new data set is viewed through the prism of whether the numbers might influence the Federal Reserve's tapering timetable.</p>\n<p>\"I feel like sometimes we end up trying to read the tea-leaves too hard, and the Fed has been pretty good on communicating on (tapering),\" said Jason Pride, chief investment officer of private wealth at Glenmede, noting the Fed remains on the path to begin tapering around year-end.</p>\n<p>Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labor Department's monthly jobs report on Friday to set the stage for the Fed's policy meeting later this month.</p>\n<p>\"You have to see very wide beats or misses in this data to really change people's minds,\" said Greg Boutle, U.S. head of equity and derivative strategy at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>\"Investors are either in this renormalization camp that thinks inflation will not happen, or they believe there will be some persistence to inflation. Really, it will be a collection of beats or misses that will move the needle for investors and the Fed, rather than a single data point.\"</p>\n<p>The Dow Jones Industrial Average rose 131.29 points, or 0.37%, to 35,443.82, the S&amp;P 500 gained 12.86 points, or 0.28%, to 4,536.95 and the Nasdaq Composite added 21.80 points, or 0.14%, to 15,331.18.</p>\n<p>Despite deadly flash floods in New York City, trading on Wall Street was operating normally.</p>\n<p>Wells Fargo rose 2.6% after three straight sessions of losses. The lender had been weighed by a report it could face further regulatory sanctions over the pace of compensating victims of a years-long sales practice scandal.</p>\n<p>Volume on U.S. exchanges was 9.23 billion shares, compared with the 9.01 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 78 new 52-week highs and <a href=\"https://laohu8.com/S/AONE.U\">one</a> new low; the Nasdaq Composite recorded 154 new highs and 14 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164829818","content_text":"Energy stocks rally on oil price gains\nWeekly jobless claims fall\nIndexes up: Dow 0.37%, S&P 0.28%, Nasdaq 0.14%\n\nSept 2 (Reuters) - The S&P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain, as higher commodity prices helped energy names recover ground and the latest jobs data left investors unfazed about existing positions.\nThe energy sector rose 2.5%, reversing much of the loss suffered during the first three days of the week. Thursday's performance was fueled by U.S. crude prices jumping 2% on a sharp decline in U.S. inventories and a weaker dollar.\nCabot Oil & Gas Corp and Occidental Petroleum Corp were the largest risers, up 6.7% and 6% respectively, with oil majors Exxon Mobil and Chevron Corp both advancing more than 2%.\nThe technology index slipped into negative territory, as some of the industry's largest companies saw their recent upward momentum stall.\nAmazon.com Inc, Microsoft Corp, Facebook Inc and Google-owner Alphabet Inc all fell between 0.2% and 1.8%. A notable exception was Netflix Inc, which advanced 1.1% to close at an all-time high.\nU.S. stocks have regularly hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence.\nStill, each new data set is viewed through the prism of whether the numbers might influence the Federal Reserve's tapering timetable.\n\"I feel like sometimes we end up trying to read the tea-leaves too hard, and the Fed has been pretty good on communicating on (tapering),\" said Jason Pride, chief investment officer of private wealth at Glenmede, noting the Fed remains on the path to begin tapering around year-end.\nData on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labor Department's monthly jobs report on Friday to set the stage for the Fed's policy meeting later this month.\n\"You have to see very wide beats or misses in this data to really change people's minds,\" said Greg Boutle, U.S. head of equity and derivative strategy at BNP Paribas.\n\"Investors are either in this renormalization camp that thinks inflation will not happen, or they believe there will be some persistence to inflation. Really, it will be a collection of beats or misses that will move the needle for investors and the Fed, rather than a single data point.\"\nThe Dow Jones Industrial Average rose 131.29 points, or 0.37%, to 35,443.82, the S&P 500 gained 12.86 points, or 0.28%, to 4,536.95 and the Nasdaq Composite added 21.80 points, or 0.14%, to 15,331.18.\nDespite deadly flash floods in New York City, trading on Wall Street was operating normally.\nWells Fargo rose 2.6% after three straight sessions of losses. The lender had been weighed by a report it could face further regulatory sanctions over the pace of compensating victims of a years-long sales practice scandal.\nVolume on U.S. exchanges was 9.23 billion shares, compared with the 9.01 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 78 new 52-week highs and one new low; the Nasdaq Composite recorded 154 new highs and 14 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818194324,"gmtCreate":1630381854168,"gmtModify":1704959458817,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooooaw","listText":"woooooooooaw","text":"woooooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/818194324","repostId":"2163833181","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835226205,"gmtCreate":1629722242407,"gmtModify":1633682951436,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaaw","listText":"wooooooaaaaw","text":"wooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/835226205","repostId":"1132832038","repostType":4,"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831952200,"gmtCreate":1629282468000,"gmtModify":1633686007325,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooooaaaw","listText":"woooooooaaaw","text":"woooooooaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831952200","repostId":"1139536363","repostType":4,"repost":{"id":"1139536363","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":1629281334,"share":"https://www.laohu8.com/m/news/1139536363?lang=&edition=full","pubTime":"2021-08-18 18:08","market":"us","language":"en","title":"Vipshop reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37","url":"https://stock-news.laohu8.com/highlight/detail?id=1139536363","media":"Tiger Newspress","summary":"(Aug 18) Vipshop reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37","content":"<p>(Aug 18)&nbsp;<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a> reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37.</p>\n<p>Vipshop&nbsp;gained&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/534a8f80eaa6b053e49a90446b0c2742\" tg-width=\"1207\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>Vipshop Q2 Non-GAAP EPS of $0.32misses by $0.04; GAAP EPS of $0.24misses by $0.07.</p>\n<p>Revenue of $4.6B (+22.8% Y/Y)&nbsp;beats by $30M.</p>\n<p>GMV for the second quarter of 2021 increased by 25% year over year to RMB48.1 billion from RMB38.4 billion in the prior year period.</p>\n<p>The number of active customers&nbsp;for the second quarter of 2021 increased by 32% year over year to 51.1 million from 38.8 million in the prior year period.</p>\n<p>Total orders&nbsp;for the second quarter of 2021 increased by 30% year over year to 221.5 million from 170.5 million in the prior year period.</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> Vipshop reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37</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\">\n Vipshop reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37\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\">2021-08-18 18:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Aug 18)&nbsp;<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a> reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37.</p>\n<p>Vipshop&nbsp;gained&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/534a8f80eaa6b053e49a90446b0c2742\" tg-width=\"1207\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>Vipshop Q2 Non-GAAP EPS of $0.32misses by $0.04; GAAP EPS of $0.24misses by $0.07.</p>\n<p>Revenue of $4.6B (+22.8% Y/Y)&nbsp;beats by $30M.</p>\n<p>GMV for the second quarter of 2021 increased by 25% year over year to RMB48.1 billion from RMB38.4 billion in the prior year period.</p>\n<p>The number of active customers&nbsp;for the second quarter of 2021 increased by 32% year over year to 51.1 million from 38.8 million in the prior year period.</p>\n<p>Total orders&nbsp;for the second quarter of 2021 increased by 30% year over year to 221.5 million from 170.5 million in the prior year period.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIPS":"唯品会"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139536363","content_text":"(Aug 18) Vipshop reports $0.32 earnings per share (non-GAAP), analysts' consensus estimate was $2.37.\nVipshop gained nearly 6% in premarket trading.\n\nVipshop Q2 Non-GAAP EPS of $0.32misses by $0.04; GAAP EPS of $0.24misses by $0.07.\nRevenue of $4.6B (+22.8% Y/Y) beats by $30M.\nGMV for the second quarter of 2021 increased by 25% year over year to RMB48.1 billion from RMB38.4 billion in the prior year period.\nThe number of active customers for the second quarter of 2021 increased by 32% year over year to 51.1 million from 38.8 million in the prior year period.\nTotal orders for the second quarter of 2021 increased by 30% year over year to 221.5 million from 170.5 million in the prior year period.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162781330,"gmtCreate":1624075692320,"gmtModify":1634011000507,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaaaaw","listText":"wooooooaaaaw","text":"wooooooaaaaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/162781330","repostId":"1156696708","repostType":4,"repost":{"id":"1156696708","pubTimestamp":1624063306,"share":"https://www.laohu8.com/m/news/1156696708?lang=&edition=full","pubTime":"2021-06-19 08:41","market":"us","language":"en","title":"Dow falls more than 500 points to close out its worst week since October","url":"https://stock-news.laohu8.com/highlight/detail?id=1156696708","media":"cnbc","summary":"Stocks fell on Friday, with theDow Jones Industrial Averageposting its worst weekly loss since Octob","content":"<div>\n<p>Stocks fell on Friday, with theDow Jones Industrial Averageposting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.\nThe blue-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/17/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_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>Dow falls more than 500 points to close out its worst week since October</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\">\nDow falls more than 500 points to close out its worst week since October\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 08:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/17/stock-market-futures-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks fell on Friday, with theDow Jones Industrial Averageposting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.\nThe blue-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/17/stock-market-futures-open-to-close-news.html\">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",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/17/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1156696708","content_text":"Stocks fell on Friday, with theDow Jones Industrial Averageposting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.\nThe blue-chip average dropped 533.37 points, or 1.6%, to 33,290.08. TheS&P 500slid 1.3% to 4,166.45. Both the Dow and S&P 500 hit their session lows in the final minutes of trading and closed around those levels. TheNasdaq Compositeclosed 0.9% lower at 14,030.38. Economic comeback plays led the market losses.\nFor the week, the 30-stock Dow lost 3.5%. The S&P 500 and Nasdaq were down by 1.9% and 0.2%, respectively, week to date.\nSt. Louis Federal Reserve President Jim Bullardtold CNBC's \"Squawk Box\"on Friday it was natural for the Fed to tilt a little \"hawkish\" this week and that the first rate increase from the central bank would likely come in 2022. His comments came after the Fed on Wednesday added two rate hikes to its 2023 forecast and increased its inflation projection for the year, putting pressure on stock prices.\n\"The fear held by some investors is that if the Fed tightens policy sooner than expected to help cool inflationary pressures, this could weigh on future economic growth,\" Truist Advisory Services chief market strategist Keith Lerner said in a note. To be sure, he added it would be premature to give up on the so-called value trade right now.\nPockets of the market most sensitive to the economic rebound led the sell-off this week. The S&P 500 energy sector and industrials dropped 5.2% and 3.8%, respectively, for the week. Financials and materials meanwhile, lost more than 6% each. These groups had been market leaders this year on the back of the economic reopening.\nThe decline in stocks came as the Fed's actions caused a drastic flattening of the so-called Treasury yield curve. This means the yields of shorter-duration Treasurys — like the 2-year note — rose while longer-duration yields like the benchmark 10-year declined. The retreat in long-dated bond yields reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.\nThis phenomenon hurt bank stocks particularly as their earnings could take a hit when the spread between short-term and long-term rates narrows. Bank of America and JPMorgan Chase shares on Friday lost more than 2% each. Citigroup fell by 1.8%, posting its 12th straight daily decline.\nFed Chairman Jerome Powell said Wednesday that officials have discussed tapering bond buying and would at some point begin slowing the asset purchases.\n\"This week's first whiff of an eventual change in Fed policy was a reminder that emergency monetary conditions and the free-money era will ultimately end,\" strategists at MRB Partners wrote in a note. \"We expect a series of incremental retreats from the Fed's benign inflation outlook in the coming months.\"\nCommodity prices were underpressure this weekas China attempted to cool rising prices and as the U.S. dollar strengthens. Copper, gold and platinum fell once again on Friday.\nFriday also coincided with the quarterly \"quadruple witching\" in which options and futures on indexes and equities expire. This event may have contributed to more volatile trading during the session.","news_type":1},"isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181333393,"gmtCreate":1623373195012,"gmtModify":1634034074421,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"wooooooaw","listText":"wooooooaw","text":"wooooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/181333393","repostId":"1184070773","repostType":4,"repost":{"id":"1184070773","pubTimestamp":1623367038,"share":"https://www.laohu8.com/m/news/1184070773?lang=&edition=full","pubTime":"2021-06-11 07:17","market":"us","language":"en","title":"S&P 500 climbs to a new record close, shrugging off inflation fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1184070773","media":"cnbc","summary":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.The broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about ","content":"<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_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>S&P 500 climbs to a new record close, shrugging off inflation fears</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 climbs to a new record close, shrugging off inflation fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">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","UPS":"联合包裹","GME":"游戏驿站",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184070773","content_text":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about 0.8% to 14,020.33.\nConsumer prices for May accelerated at their fastest pace since the summer of 2008 amid the economic recovery from the pandemic-triggered recession,the Labor Department reported Thursday.\nThe consumer price index, which represents a basket including food, energy, groceries and prices across a spectrum of goods, rose 5% from a year ago. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.\n\"I think there were a lot of people who held back, who wanted to see the hotter inflation number,\" CNBC's Jim Cramer said on \"Squawk on the Street.\" \"Now they've said, 'OK, now that's over with. Let's do some buying.' Because they've been on the sideline and they want to get in. I don't think that's actually usual these days because there's still so much buying power out there. People want in.\"\nFears of spiking inflation have weighed on the stock market in the last month, with investors worried the jump in prices will raise costs for companies, spark a move higher in interest rates and cause the Federal Reserve to remove its easy money policies.\n\"This CPI isn't likely to change the narrative dramatically, and there are still indications that inflation momentum is set to abate in the coming months,\" Adam Crisafulli, founder of Vital Knowledge, said in a note Thursday.\nMany economists also said the surge in used car costs for the month could have skewed the inflation reading. Used car and truck prices jumped more than 7%, accounting for one-third of the total increase for the month, according to the Bureau of Labor Statistics. The jump in used car prices likely reflects a temporary phenomenon related to the pandemic and auto supply.\nA separate report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000, versus a Dow Jones estimate of 370,000. The total still marked the lowest of the pandemic era.\nUPS shares rose about 1% afteran upgrade from JPMorgan. Shares of Boeing were higher, but Delta Air Lines slipped.\nVideo-game retailer and meme stock GameStop fell 27% even after the company tapped former Amazon executive Matt Furlong to be its next CEO and said that sales rose 25% last quarter. The company also said it may sell up to 5 million additional shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111014792,"gmtCreate":1622644236616,"gmtModify":1634099628419,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woooooaw","listText":"woooooaw","text":"woooooaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/111014792","repostId":"1188552613","repostType":4,"repost":{"id":"1188552613","pubTimestamp":1622627641,"share":"https://www.laohu8.com/m/news/1188552613?lang=&edition=full","pubTime":"2021-06-02 17:54","market":"us","language":"en","title":"AMC Stock Is Surging Again. How to Make Sense of the Move.","url":"https://stock-news.laohu8.com/highlight/detail?id=1188552613","media":"Barrons","summary":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, th","content":"<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of&nbsp;GameStop&nbsp;and&nbsp;BlackBerry&nbsp;into speculative territory.</p>\n<p>But it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.</p>\n<p>Shares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office.&nbsp;Shares were up another 34%, to $42.92, in premarket trading Wednesday.</p>\n<p>Even if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.</p>\n<p>AMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.</p>\n<p>So, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.</p>\n<p>Back then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.</p>\n<p>The upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&amp;P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.</p>\n<p>In those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.</p>\n<p>Maybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.</p>\n<p>If AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.</p>\n<p>Then, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&amp;P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.</p>\n<p>There are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.</p>\n<p>Also, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.</p>\n<p>AMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.</p>\n<p>There is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.</p>\n<p>AMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.</p>\n<p>Wall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.</p>\n<p>Analysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.</p>\n<p>And that’s just another way of saying that AMC bulls are a long way from making the math work.</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>AMC Stock Is Surging Again. How to Make Sense of the Move.</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\">\nAMC Stock Is Surging Again. How to Make Sense of the Move.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 17:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of GameStop and BlackBerry into ...</p>\n\n<a href=\"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188552613","content_text":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of GameStop and BlackBerry into speculative territory.\nBut it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.\nShares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office. Shares were up another 34%, to $42.92, in premarket trading Wednesday.\nEven if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.\nAMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.\nSo, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.\nBack then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.\nThe upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.\nIn those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.\nMaybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.\nIf AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.\nThen, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.\nThere are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.\nAlso, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.\nAMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.\nThere is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.\nAMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.\nWall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.\nAnalysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.\nAnd that’s just another way of saying that AMC bulls are a long way from making the math work.","news_type":1},"isVote":1,"tweetType":1,"viewCount":59,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197703289,"gmtCreate":1621483302841,"gmtModify":1634188769218,"author":{"id":"3582886929910429","authorId":"3582886929910429","name":"Lowger","avatar":"https://static.tigerbbs.com/2787202ad1607a43e761beb8e8d1e26c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582886929910429","authorIdStr":"3582886929910429"},"themes":[],"htmlText":"woaw","listText":"woaw","text":"woaw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/197703289","repostId":"1176686071","repostType":2,"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}