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While Apple might look somewhat expensive at a price-to-earnings ratio of 27, analysts have been underestimating the iPhone maker for years. The stock has delivered multibagger returns over the last decade even though the brand was just as well known in 2011 as it is today.</p>\n<p>Wait times for the newest iPhones are reported to be the longest in at least four years at more than four weeks. While Wall Street tries to figure out whether it's genuine demand or supply shortages creating the delays, the only thing that matters is that the 5G upgrade cycle is definitely here, and it's going to lead to more revenue growth for Apple over the next few years.</p>\n<p>Apple started the year with an installed base of 1.65 billion devices worldwide, a new record.&nbsp;The introduction of 5G on the iPhone 12 drove strong revenue performance a year ago. Through the first three quarters of fiscal 2021&nbsp; (through June), iPhone sales were up 37.5% year over year. The new iPhone 13 should pull in users that skipped last year's upgrade, especially once people get a look at the smoothness of the new screens on the Pro models.</p>\n<p>The iPhone is the flywheel product for Apple, since strong sales tend to spill over to other products and services. All said, Apple is looking at a profitable stretch of growth and is a good bet for investors.</p>\n<h2>Micron Technology: A top provider of essential mobile hardware</h2>\n<p>Micron is a leading supplier of dynamic random-access memory (DRAM), non-volatile memory (NAND), and NOR flash memory and storage products that are used in consumer PCs, data centers, and by some of the leading smartphone manufacturers. Long-term demand trends in the data center and 5G markets are driving a strong growth phase for the company, with revenue up 29% in fiscal 2021, which ended in September.</p>\n<p>Micron's mobile business unit grew 26% in fiscal 2021 and accounted for slightly more than a quarter of its total revenue. Management is anticipating another strong year of growth, as 5G phones contain significantly more memory capacity than 4G phones.</p>\n<p>Micron has supplied products for iPhones in the past, but a recent teardown of the iPhone 13 revealed that Apple chose to use chips from Micron competitors SK Hynix and Kioxia this time around. This isn't a problem for Micron, though, since the smartphone market is much bigger than Apple, with 5G smartphone sales expected to reach 500 million units this year.</p>\n<p>Given the growth Micron is seeing across the data center, mobile, automotive, and industrial markets, the stock looks particularly attractive at a forward P/E of just 7.2. Throw in a small quarterly dividend of $0.10 per share (yielding about 0.15% at the current stock price),&nbsp;and investors are looking at one cheap stock to invest in the&nbsp;5G growth cycle.</p>\n<h2>Zynga: A fast-growing mobile game producer</h2>\n<p>It's not just hardware suppliers that will benefit from 5G. People who play mobile games will see significant benefits, such as faster downloads, from the technology and Zynga is the company behind several popular mobile games, including <i>FarmVille</i>, <i>Merge Magic!</i>, <i>Empires &amp; Puzzles</i>, and <i>Words With Friends</i>.&nbsp;The stock has delivered a return of 150% over the last five years, and the era of 5G could significantly boost player engagement and growth for this company.</p>\n<p>Players using 5G devices will be able to download games with large file sizes much faster while away from their home Wi-Fi network, which could increase player engagement. 5G speeds will also bring major benefits to online multiplayer games, such as Zynga's <i>CSR Racing</i>.&nbsp;Overall, games will look better and play faster.</p>\n<p>Management estimates that investments in international growth, cross-platform play, launching hyper-casual games, and mobile advertising put the company's long-term addressable market at $240 billion.&nbsp;Zynga generated just $2.5 billion in revenue over the last four quarters,&nbsp;with second-quarter bookings up a robust 37% year over year.</p>\n<p>However, market participants are concerned about slowing growth in the near term, as Zynga numbers come up against high growth during the earlier days of the pandemic. As a result, the stock is down about 31% over the last few months.&nbsp;Given that mobile gaming is already the fastest-growing segment in the $175 billion video game industry,&nbsp;an investment in Zynga at the beginning of the 5G upgrade cycle could lead to stellar returns for investors over the next five years.</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 5G Stocks to Buy in 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\">\n3 5G Stocks to Buy in October\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-15 21:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The era of 5G is here, and there are several ways to invest behind the improvements that faster download speeds will bring smartphone users.\nHere's why I believe Apple (NASDAQ:AAPL), Micron Technology...</p>\n\n<a href=\"https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","MU":"美光科技","ZNGA":"Zynga"},"source_url":"https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2175117376","content_text":"The era of 5G is here, and there are several ways to invest behind the improvements that faster download speeds will bring smartphone users.\nHere's why I believe Apple (NASDAQ:AAPL), Micron Technology (NASDAQ:MU), and Zynga (NASDAQ:ZNGA) are no-brainer buys right now.\nImage source: Getty Images.\nApple: The top brand benefiting from 5G upgrades\nApple is probably the safest stock to invest in 5G that still offers decent return potential. While Apple might look somewhat expensive at a price-to-earnings ratio of 27, analysts have been underestimating the iPhone maker for years. The stock has delivered multibagger returns over the last decade even though the brand was just as well known in 2011 as it is today.\nWait times for the newest iPhones are reported to be the longest in at least four years at more than four weeks. While Wall Street tries to figure out whether it's genuine demand or supply shortages creating the delays, the only thing that matters is that the 5G upgrade cycle is definitely here, and it's going to lead to more revenue growth for Apple over the next few years.\nApple started the year with an installed base of 1.65 billion devices worldwide, a new record. The introduction of 5G on the iPhone 12 drove strong revenue performance a year ago. Through the first three quarters of fiscal 2021  (through June), iPhone sales were up 37.5% year over year. The new iPhone 13 should pull in users that skipped last year's upgrade, especially once people get a look at the smoothness of the new screens on the Pro models.\nThe iPhone is the flywheel product for Apple, since strong sales tend to spill over to other products and services. All said, Apple is looking at a profitable stretch of growth and is a good bet for investors.\nMicron Technology: A top provider of essential mobile hardware\nMicron is a leading supplier of dynamic random-access memory (DRAM), non-volatile memory (NAND), and NOR flash memory and storage products that are used in consumer PCs, data centers, and by some of the leading smartphone manufacturers. Long-term demand trends in the data center and 5G markets are driving a strong growth phase for the company, with revenue up 29% in fiscal 2021, which ended in September.\nMicron's mobile business unit grew 26% in fiscal 2021 and accounted for slightly more than a quarter of its total revenue. Management is anticipating another strong year of growth, as 5G phones contain significantly more memory capacity than 4G phones.\nMicron has supplied products for iPhones in the past, but a recent teardown of the iPhone 13 revealed that Apple chose to use chips from Micron competitors SK Hynix and Kioxia this time around. This isn't a problem for Micron, though, since the smartphone market is much bigger than Apple, with 5G smartphone sales expected to reach 500 million units this year.\nGiven the growth Micron is seeing across the data center, mobile, automotive, and industrial markets, the stock looks particularly attractive at a forward P/E of just 7.2. Throw in a small quarterly dividend of $0.10 per share (yielding about 0.15% at the current stock price), and investors are looking at one cheap stock to invest in the 5G growth cycle.\nZynga: A fast-growing mobile game producer\nIt's not just hardware suppliers that will benefit from 5G. People who play mobile games will see significant benefits, such as faster downloads, from the technology and Zynga is the company behind several popular mobile games, including FarmVille, Merge Magic!, Empires & Puzzles, and Words With Friends. The stock has delivered a return of 150% over the last five years, and the era of 5G could significantly boost player engagement and growth for this company.\nPlayers using 5G devices will be able to download games with large file sizes much faster while away from their home Wi-Fi network, which could increase player engagement. 5G speeds will also bring major benefits to online multiplayer games, such as Zynga's CSR Racing. Overall, games will look better and play faster.\nManagement estimates that investments in international growth, cross-platform play, launching hyper-casual games, and mobile advertising put the company's long-term addressable market at $240 billion. Zynga generated just $2.5 billion in revenue over the last four quarters, with second-quarter bookings up a robust 37% year over year.\nHowever, market participants are concerned about slowing growth in the near term, as Zynga numbers come up against high growth during the earlier days of the pandemic. As a result, the stock is down about 31% over the last few months. Given that mobile gaming is already the fastest-growing segment in the $175 billion video game industry, an investment in Zynga at the beginning of the 5G upgrade cycle could lead to stellar returns for investors over the next five years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865213451,"gmtCreate":1632985774422,"gmtModify":1632986282155,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Thank you.","listText":"Thank you.","text":"Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865213451","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":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104172212","content_text":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.\n\nThe COVID-19 delta variant, inflation and central bank tapering are unnerving investors. We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.\nIntroduction\nThe post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.\nAnother worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.\nThe conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.\nCycle still in recovery phase\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.\nU.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS\n\nThe U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.\nGDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019\n\nTwo key indicators\nLast quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.\nThe first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.\nWATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE\n\nThe second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.\nWATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER\n\nReopening trade still makes sense\nThe reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.\nThe rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.\nEmerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.\nThe resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.\nRisks: variants, inflation, China weakness\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.\nAnother watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.\nFinally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.\nRegional snapshotsUnited States\nThe U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&P 500® Index earnings-per-share already sit 20% above their previous cyclical high.\nStrong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.\nWage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.\nFiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be arisk-onpreference for equities over bonds for the medium-term.\nEurozone\nEuro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).\nThe MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.\nUnited Kingdom\nAs of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.\nThe FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.\nJapan\nThe Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.\nChina\nWe expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.\nCanada\nCanada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.\nTapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.\nAustralia/New Zealand\nThe Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.\nNew Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.\nAsset-class preferences\nOur cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.\nCOMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL\n\n\nWe prefernon-U.S. equitiesto U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.\nEmerging markets equitieshave been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.\nHigh yieldandinvestment grade creditare expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominatedemerging markets debtis close to fair value in spread terms and will gain support on U.S. dollar weakness.\nGovernment bondsare expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.\nReal assets: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.Commoditieshave been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.\nTheU.S. dollarhas been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be theeuro, which is still undervalued. We also believeBritish sterlingand the economically sensitivecommodity currencies—theAustralian dollar, theNew Zealand dollarand theCanadian dollar—can make further gains, although these currencies are not undervalued from a longer-term perspective.\n\nASSET PERFORMANCE SINCE THE BEGINNING OF 2021\n\n1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.\nImportant Information\nThe views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.\nPlease remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.\nKeep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.\nNo model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.\nForecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.\nInvestment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.\nCurrency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.\nInvestments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.\nBond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.\nPerformance quoted represents past performance and should not be viewed as a guarantee of future results.\nThe FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.\nThe S&P 500® Index, or the Standard & Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.\nThe MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.\nIndexes are unmanaged and cannot be invested in directly.\nCopyright © Russell Investments 2021. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an “as is” basis without warranty.\nFrank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.\nProducts and services described on this website are intended forUnited States residents only. Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained on this website should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. Persons outside the United States may find more information about products and services available within their jurisdictions by going to Russell Investments' Worldwide site.\nRussell Investments is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone, and applying the relevant accessibility standards.\nRussell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865213247,"gmtCreate":1632985732163,"gmtModify":1632986279151,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"THank you.","listText":"THank you.","text":"THank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865213247","repostId":"2171986054","repostType":4,"isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865116582,"gmtCreate":1632960672586,"gmtModify":1632967541939,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"OMG","listText":"OMG","text":"OMG","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865116582","repostId":"1166409901","repostType":4,"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862748306,"gmtCreate":1632919161247,"gmtModify":1632924786529,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I agree","listText":"I agree","text":"I agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862748306","repostId":"2170778116","repostType":4,"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862741276,"gmtCreate":1632919066144,"gmtModify":1632924786467,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Very good news","listText":"Very good news","text":"Very good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862741276","repostId":"1144324950","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862743136,"gmtCreate":1632918840970,"gmtModify":1632924786391,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862743136","repostId":"2170770176","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862743328,"gmtCreate":1632918823843,"gmtModify":1632924786347,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Thank you.","listText":"Thank you.","text":"Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862743328","repostId":"2170770176","repostType":4,"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":865213451,"gmtCreate":1632985774422,"gmtModify":1632986282155,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Thank you.","listText":"Thank you.","text":"Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865213451","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":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4457651-2021-global-market-outlook-q4-update-growing-pains","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104172212","content_text":"Summary\n\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor.\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter.\n\nThe COVID-19 delta variant, inflation and central bank tapering are unnerving investors. We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening. Amid this backdrop, our outlook favors equities over bonds, the value factor over the growth factor and non-U.S. stocks over U.S. stocks.\nIntroduction\nThe post-lockdown recovery has transitioned from energetic youthfulness to awkward adolescence. It’s still growing, although at a slower pace, and there are worries about what happens next, particularly about monetary policy and the outlook for inflation. Theinflation spikehas been larger than expected, but we still think it istransitory, caused by base effects from when the U.S. consumer price index (CPI) fell during the lockdown last year and by temporary supply bottlenecks. Inflation may remain high over the remainder of 2021 but should decline in early 2022. This means that even though the U.S. Federal Reserve (Fed) is likely to begin tapering back on asset purchases before the end of the year, rate hikes are unlikely before the second half of 2023.\nAnother worry is thehighly contagious COVID-19 delta variant. The evidence so far is that vaccines are effective in preventing serious COVID-19 infections. Vaccination rates are accelerating globally, and emerging economies are catching up with developed markets. Infection rates appear to have peaked globally in early September. This means the reopening of economies should continue over the remainder of 2021. The onset of winter in the northern hemisphere will be a test, but the rollout of booster vaccination shots should help prevent widescale renewed lockdowns.\nThe conclusions from our cycle, value and sentiment (CVS) investment decision-making process are broadly unchanged from our previous quarterly report. Global equities remain expensive, with the very expensive U.S. market offsetting better value elsewhere. Sentiment is slightly overbought, but not close to dangerous levels of euphoria. The strong cycle delivers a preference for equities over bonds for at least the next 12 months, despite expensive valuations. It also reinforces our preference for thevalue equity factor over the growth factorand for non-U.S. equities to outperform the U.S. market.\nCycle still in recovery phase\nThe post-lockdown recovery has been powerful, and most developed economies have seen double-digit gross domestic product (GDP) rebounds from 2020 lows. Even so, we think the cycle is still in the recovery phase, although it is maturing. Despite strong growth, there is plenty of spare capacity. This can be seen in the employment-to-population ratio for prime-age workers in the United States. The chart below shows the ratio has recovered from the pandemic lows, but only to levels reached during the relatively mild recessions in the early 1990s and 2000s. We expect theU.S. labor-market recoveryshould still resemble a typical post-recession recovery over the next few quarters.\nU.S. EMPLOYMENT-POPULATION RATIO FOR PRIME-AGE WORKERS\n\nThe U.S. recovery, however, is more advanced than that of other developed economies. The following chart shows how far GDP has recovered, relative to the pre-COVID-19 peak in 2019. GDP is 0.8% higher in the U.S., although this level is still short relative to the pre-COVID-19 trend. GDP is 2.5% below 2019 levels in the euro area and 4.5% below in the United Kingdom. We expect more cyclical upside for economic growth outside the U.S., and this should allow market leadership to rotate toward the rest of the world.\nGDP IN Q2 2021 RELATIVE TO PRE-COVID-19 PEAK IN 2019\n\nTwo key indicators\nLast quarter, we listed two indicators that should offer a guide to the Fed’s expected reaction to the inflation spike.\nThe first is five-year/five-year breakeven inflation expectations, based on the pricing of Treasury Inflation Protected Securities (TIPS). This is the market’s forecast for average inflation over five years in five years’ time. It tells us that investors expect inflation will average 2.17% in the five years from late 2026 to late 2031. The TIPS yields are based on the CPI, while the Fed targets inflation as measured by the personal consumption expenditure (PCE) deflator. The two move together over time, but CPI inflation is generally around 0.25% higher than PCE inflation. A breakeven rate of 2.75% would suggest the market sees PCE inflation above 2.5% in five years’ time. Market inflation expectations are currently comfortably below the Fed’s worry point.\nWATCHPOINT INDICATOR #1: U.S. 5-YEAR/5-YEAR BREAKEVEN INFLATION RATE\n\nThe second indicator is the Atlanta Fed’s Wage Growth Tracker, and this has a less-comforting message about inflation risks. It reached 3.9% in August, which isclose to the 4% thresholdwhere we judge that the Fed will become concerned about the inflationary impact on the growth of wages. A breakdown shows that the spike has been mostly driven by wages for low-skilled, young people in the leisure and hospitality industry. This suggests the surge has been caused by temporary labor supply shortages and that wage pressures should subside as economic activity normalizes. This indicator, however, will be an important watchpoint over the next few months.\nWATCHPOINT INDICATOR #2: ATLANTA FED WAGE GROWTH TRACKER\n\nReopening trade still makes sense\nThe reopening trade, which lifts long-term interest rates and favors cyclical and value stocks over technology and growth stocks, worked well for several months following the vaccine announcement last November. Value outperformed growth and yield curves steepened. The trade has reversed in recent months, however, amid fears that the delta variant might derail the economic recovery. The impact has been magnified by short covering in bond markets as investors, who have been short or underweight, have been forced by the rally to buy back into the market, pushing bond yields even lower.\nThe reopening trade should resume in coming months. The cyclical stocks that comprise the value factor are reporting stronger earnings upgrades than technology-heavy growth stocks, and the value factor is cheap compared to the growth factor. Financial stocks comprise the largest sector in the MSCI World Value Index, and they should benefit from further yield-curve steepening, which boosts the profitability of banks. Long-term interest rates should rise as global growth remains above trend, delta-variant fears fade, the short squeeze unwinds and central banks begin tapering back on bond purchases.\nThe rotation in economic growth leadership away from the United States should also help the reopening trade. The rest of the world is overweight cyclical value stocks relative to the U.S., which has a higher weight to technology stocks.\nEmerging market (EM) equities have been poor performers since the vaccine announcement, but there are some encouraging signs. Initially, they were held back by the exposure to technology stocks in the MSCI Emerging Markets Index and the slow rollout of COVID-19 vaccines. More recently, they have come under pressure from the slowdown in the Chinese economy and theregulatory crackdown on Chinese tech companies. The vaccine rollout across emerging markets has accelerated and policy easing in China should soon improve the growth outlook. The path of Chinese regulation is harder to predict, but it is now largely priced in, with Chinese technology companies underperforming their global peers by nearly 50% from February 2021 through mid-September.\nThe resumption of the reopening trade should also result in U.S. dollar weakness. The U.S. Dollar Index (DXY) has traded sideways since the vaccine announcement. It should weaken once investors have confidence that delta-variant risks are subsiding and realize that the Fed is likely to remain dovish as inflation risks decline. The dollar typically gains during global downturns and declines in the recovery phase. Dollar weakness should support the performance of non-U.S. markets, particularly emerging markets.\nRisks: variants, inflation, China weakness\nThe key risk is that the delta variant or similar proves resilient to vaccination or that infection rates escalate during the Northern Hemisphere winter. The evidence so far is that vaccinations are highly effective in preventing serious illness. In Israel, booster shots appear to have slowed the rate of new cases.\nAnother watchpoint is inflation and the response of central banks. Our expectation is that this year’s inflation spike is mostly transitory and that the major central banks, led by the Fed, are still two years from raising interest rates.\nFinally, there is the risk of a sharper-than-expected slowdown in China.Credit growth has slowed this yearand the purchasing managers’ indexes (PMI) have trended lower. Monetary and fiscal policy have been eased, however, and senior officials have signaled that more stimulus is on the way. China policy direction and credit trends will be an important watchpoint over coming months.\nRegional snapshotsUnited States\nThe U.S. economy is likely to sustain above-trend growth into 2022. However, the easiest gains appear in the rear-view mirror at the end of the third quarter as the recovery phase of the business cycle matures. This is most visible for corporate earnings, where S&P 500® Index earnings-per-share already sit 20% above their previous cyclical high.\nStrong fundamentals have helped power the stock market to new highs. Early evidence that the delta-variant wave may be fading and the potential for greater vaccine access for children are positives for a more complete recovery in the quarters ahead. The Fedlooks poised to start tapering its asset purchasesaround the end of 2021. The timing of the first rate hike will then hinge on what happens to inflation next year. Our models suggest that inflation is likely to drop back below the Fed’s 2% target in 2022. If that is correct, the Fed is likely to remain on hold into the second half of 2023.\nWage inflation is a key risk to this view. It is running unusually strong for this stage of the cycle, and record hiring intentions from businesses could exhaust spare capacity in the year ahead. We expect the 10-year U.S. Treasury yield to rise moderately from 1.37% in mid-September to 1.75% in coming months.\nFiscal stimulus negotiations continue to grab headlines in Washington, D.C. Thetax provisions in these billsare likely to be the most impactful for financial markets. We estimate thathigher corporate taxescould subtract about four percentage points from S&P 500 earnings growth in 2022. This could create volatility and opportunity in markets. Given our strong cyclical outlook, our bias continues to be arisk-onpreference for equities over bonds for the medium-term.\nEurozone\nEuro area growthslowed through the third quarter but looks on track for a return to above-trend growth over the fourth quarter and into 2022. Vaccination rates are high, and the euro area has more catch-up potential than other major economies, particularly the United States. The euro area is also set to receive more fiscal support than other regions, with the European Union’s pandemic recovery fund only just starting to disburse stimulus, which will provide significant support in southern Europe. Polls in advance of Germany’s federal election on Sept. 26 suggested the electorate was moving toward the political left, which means the new government is likely to support expansionary fiscal policy and a continued dovish stance by the European Central Bank (ECB).\nThe MSCI EMU Index, which reflects the European Economic and Monetary Union, has performed broadly in line with the S&P 500 so far in 2021. We think it has potential to outperform in coming quarters. Europe’s exposure to financials and cyclically sensitive sectors such as industrials, materials and energy, and its relatively small exposure to technology, gives it the potential to outperform as delta-variant fears subside, economic activity picks up and yield curves in Europe steepen.\nUnited Kingdom\nAs of mid-year, UK GDP was still nearly 4.5% below its pre-pandemic peak. We see plenty of scope for strong catch-up growth as borders are fully reopened and activity normalizes. Supply bottlenecks and labor shortages have triggered a sharp rise in underlying inflation and created concerns that the Bank of England (BoE) may start rate hikes in the first half of 2022. We think the BoE is unlikely to be that aggressive. We expect inflation to decline in early 2022 as supply constraints ease, which should convince the BoE to delay rate hikes.\nThe FTSE 100 Index is the cheapest of the major developed equity markets in late 2021, and this should help it reflect higher returns than other markets over the next decade. Around 70% of UK corporate earnings come from offshore, so one near-term risk is that further strengthening of British sterling dampens earnings growth. The other risks are mostly around policy missteps, for example, early tightening by the Bank of England.\nJapan\nThe Japanese economy is expected to get a shot in the arm as rising vaccination rates improve mobility and reduce the risk of further lockdowns, and as political leadership changes result in more fiscal stimulus: the Japanese election is due to be held before Nov. 28. Japanese equities look slightly more expensive than other regions such as the UK and Europe. We maintain our view that the Bank of Japan will significantly lag other central banks in normalizing policy.\nChina\nWe expect Chinese economic growth to berobust over the next 12 months, supported by a post-lockdown jump in consumer spending and incremental fiscal and monetary easing. Despite a big improvement in vaccination rates,COVID-19 outbreaks remain a riskgiven the Chinese government’s zero-tolerance approach. The major consumer technology companies have seen significant drops in stock prices recently due to more aggressive regulation. Some uncertainty remains around thepath of future regulation, especially as it relates to technology companies, and as a result we expect investors will remain cautious on Chinese equities in the coming months. The property market, particularly property developers as recently highlighted by Evergrande’s debt crisis, remains a risk that we are monitoring closely.\nCanada\nCanada leads the G71countries in terms of the vaccination rollout, which should minimize the risk of large-scale lockdowns over winter. The delta variant has taken an economic toll, however, with industry consensus projections now predicting 5% GDP growth in 2021 versus estimates of more than 6% just three months ago. Even so, growth remains above-trend and the odds of additional fiscal expenditures to support the economy have increased. This means that weaker growth due to COVID-19 is unlikely to change the Bank of Canada's (BoC) tightening bias.\nTapering of asset purchasesshould be complete by the end of the first quarter of 2022. BoC Governor Tiff Macklem has indicated that the reinvestment phase of the bonds held by the central bank will commence once quantitative easing has ended. This should generate an estimated C$1 billion in weekly bond purchases, down from the current pace of C$2 billion. The BoC will likely only consider shrinking its balance sheet after it has started lifting interest rates. The BoC projects that the output gap will close sometime over the second half of 2022, and that rate hikes will be considered after economic slack has disappeared. We believe that the timeline may be a tad aggressive, and a delay to 2023 for liftoff is more likely. This would better align the Canadian central bank with its American counterpart.\nAustralia/New Zealand\nThe Australian economy is set to return to life, with lockdowns likely to be eased in October and November. Consumer and business balance sheets continue to look healthy, which should facilitate a strong recovery. The reopening of the international border in 2022 will provide a further boost. Fiscal policy has supported the economy through the downturn, and there is potential for further stimulus in the lead-up to the federal election, which is due before the end of 2022. The Reserve Bank of Australia has begun the process of tapering its bond-purchase program, but we expect that a rise in the cash rate is unlikely until at least the second half of 2023.\nNew Zealand’s most recent lockdown will drag on Q3 GDP, but similar to Australia, we expect a solid rebound as the economy reopens. The government aims to provide a vaccine to all adults by the end of 2021, after which borders will gradually reopen. This will provide a boost, particularly to tourism-exposed sectors. Despite having recently put off hiking interest rates due to the recent lockdown, we expect the Reserve Bank of New Zealand will start raising rates this year. Even though they have significantly underperformed global equities this year, New Zealand equities still screen as relatively expensive compared to other regions.\nAsset-class preferences\nOur cycle, value and sentiment investment decision-making process in late September 2021 has a moderately positive medium-term view on global equities. Value is expensive across most markets except for UK equities, which are near fair value. The cycle is risk-asset supportive for the medium-term. The major economies still have spare capacity and inflation pressures appear transitory, caused by COVID-19-related supply shortages. Rate hikes by the U.S. Fed seem unlikely before the second half of 2023. Sentiment, after reaching overbought levels earlier in the year, has returned to more neutral levels.\nCOMPOSITE CONTRARIAN INDICATOR: SENTIMENT SHIFTS TOWARD NEUTRAL\n\n\nWe prefernon-U.S. equitiesto U.S. equities. Stronger economic growth and steeper yield curves after the third-quarter slowdown should favor undervalued cyclical value stocks over expensive technology and growth stocks. Relative to the U.S., the rest of the world is overweight cyclical value stocks.\nEmerging markets equitieshave been relatively poor performers this year, but there are some encouraging signs. The vaccine rollout across EM has accelerated and policy easing in China should soon boost the economic growth outlook.China’s regulatory crackdownhas caused significant underperformance by Chinese technology companies, but this should be less of a headwind going forward now that it is priced in.\nHigh yieldandinvestment grade creditare expensive on a spread basis but have support from a positive cycle view that accommodates corporate profit growth and keeps default rates low. U.S. dollar-denominatedemerging markets debtis close to fair value in spread terms and will gain support on U.S. dollar weakness.\nGovernment bondsare expensive, and yields should come under upward pressure as output gaps close and central banks look to taper back asset purchases. We expect the 10-year U.S. Treasury yield to rise toward 1.75% in coming months.\nReal assets: Real Estate Investment Trusts (REITs) have significantly outperformed Global Listed Infrastructure (GLI) so far this year, to the extent that REITS are now expensive relative to GLI. Both should benefit from the pandemic recovery, but GLI has some catch-up potential. GLI should benefit from the global re-opening boosting domestic and international travel.Commoditieshave been the best-performing asset class this year amid strong demand and supply bottlenecks. The gains have been led by industrial metals and energy. The pace of increase should ease as supply issues are resolved, butcommodities should retain supportfrom above-trend global demand.\nTheU.S. dollarhas been supported this year by expectations for early Fed tightening and U.S. economic growth leadership. It should weaken as global growth leadership rotates away from the U.S. and toward Europe and other developed economies. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiary is likely to be theeuro, which is still undervalued. We also believeBritish sterlingand the economically sensitivecommodity currencies—theAustralian dollar, theNew Zealand dollarand theCanadian dollar—can make further gains, although these currencies are not undervalued from a longer-term perspective.\n\nASSET PERFORMANCE SINCE THE BEGINNING OF 2021\n\n1The Group of Seven is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.\nImportant Information\nThe views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of September 27, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.\nPlease remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.\nKeep in mind that, like all investing, multi-asset investing does not assure a profit or protect against loss.\nNo model or group of models can offer a precise estimate of future returns available from capital markets. We remain cautious that rational analytical techniques cannot predict extremes in financial behavior, such as periods of financial euphoria or investor panic. Our models rest on the assumptions of normal and rational financial behavior. Forecasting models are inherently uncertain, subject to change at any time based on a variety of factors and can be inaccurate. Russell believes that the utility of this information is highest in evaluating the relative relationships of various components of a globally diversified portfolio. As such, the models may offer insights into the prudence of over or under weighting those components from time to time or under periods of extreme dislocation. The models are explicitly not intended as market timing signals.\nForecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.\nInvestment in global, international or emerging markets may be significantly affected by political or economic conditions and regulatory requirements in a particular country. Investments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation. Such securities may be less liquid and more volatile. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and political systems with less stability than in more developed countries.\nCurrency investing involves risks including fluctuations in currency values, whether the home currency or the foreign currency. They can either enhance or reduce the returns associated with foreign investments.\nInvestments in non-U.S. markets can involve risks of currency fluctuation, political and economic instability, different accounting standards and foreign taxation.\nBond investors should carefully consider risks such as interest rate, credit, default and duration risks. Greater risk, such as increased volatility, limited liquidity, prepayment, non-payment and increased default risk, is inherent in portfolios that invest in high yield (“junk”) bonds or mortgage-backed securities, especially mortgage-backed securities with exposure to sub-prime mortgages. Generally, when interest rates rise, prices of fixed income securities fall. Interest rates in the United States are at, or near, historic lows, which may increase a Fund’s exposure to risks associated with rising rates. Investment in non-U.S. and emerging market securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.\nPerformance quoted represents past performance and should not be viewed as a guarantee of future results.\nThe FTSE 100 Index is a market-capitalization weighted index of UK-listed blue chip companies.\nThe S&P 500® Index, or the Standard & Poor’s 500, is a stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.\nThe MSCI EMU Index (European Economic and Monetary Union) captures large and mid cap representation across the 10 developed markets countries in the EMU. With 246 constituents, the index covers approximately 85% of the free float-adjusted market capitalization of the EMU.\nIndexes are unmanaged and cannot be invested in directly.\nCopyright © Russell Investments 2021. All rights reserved. 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Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824588754,"gmtCreate":1634339374792,"gmtModify":1634348395717,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Thank you.","listText":"Thank you.","text":"Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/824588754","repostId":"2175117376","repostType":4,"repost":{"id":"2175117376","pubTimestamp":1634303296,"share":"https://www.laohu8.com/m/news/2175117376?lang=&edition=full","pubTime":"2021-10-15 21:08","market":"us","language":"en","title":"3 5G Stocks to Buy in October","url":"https://stock-news.laohu8.com/highlight/detail?id=2175117376","media":"Motley Fool","summary":"From memory chips to mobile gaming, these three companies will benefit from growing demand for all things 5G.","content":"<p>The era of 5G is here, and there are several ways to invest behind the improvements that faster download speeds will bring smartphone users.</p>\n<p>Here's why I believe <b>Apple</b> (NASDAQ:AAPL), <b>Micron Technology</b>&nbsp;(NASDAQ:MU), and <b><a href=\"https://laohu8.com/S/ZNGA\">Zynga</a></b> (NASDAQ:ZNGA) are no-brainer buys right now.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F646511%2F5g-cell-tower.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"435\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>Apple: The top brand benefiting from 5G upgrades</h2>\n<p>Apple is probably the safest stock to invest in 5G that still offers decent return potential. While Apple might look somewhat expensive at a price-to-earnings ratio of 27, analysts have been underestimating the iPhone maker for years. The stock has delivered multibagger returns over the last decade even though the brand was just as well known in 2011 as it is today.</p>\n<p>Wait times for the newest iPhones are reported to be the longest in at least four years at more than four weeks. While Wall Street tries to figure out whether it's genuine demand or supply shortages creating the delays, the only thing that matters is that the 5G upgrade cycle is definitely here, and it's going to lead to more revenue growth for Apple over the next few years.</p>\n<p>Apple started the year with an installed base of 1.65 billion devices worldwide, a new record.&nbsp;The introduction of 5G on the iPhone 12 drove strong revenue performance a year ago. Through the first three quarters of fiscal 2021&nbsp; (through June), iPhone sales were up 37.5% year over year. The new iPhone 13 should pull in users that skipped last year's upgrade, especially once people get a look at the smoothness of the new screens on the Pro models.</p>\n<p>The iPhone is the flywheel product for Apple, since strong sales tend to spill over to other products and services. All said, Apple is looking at a profitable stretch of growth and is a good bet for investors.</p>\n<h2>Micron Technology: A top provider of essential mobile hardware</h2>\n<p>Micron is a leading supplier of dynamic random-access memory (DRAM), non-volatile memory (NAND), and NOR flash memory and storage products that are used in consumer PCs, data centers, and by some of the leading smartphone manufacturers. Long-term demand trends in the data center and 5G markets are driving a strong growth phase for the company, with revenue up 29% in fiscal 2021, which ended in September.</p>\n<p>Micron's mobile business unit grew 26% in fiscal 2021 and accounted for slightly more than a quarter of its total revenue. Management is anticipating another strong year of growth, as 5G phones contain significantly more memory capacity than 4G phones.</p>\n<p>Micron has supplied products for iPhones in the past, but a recent teardown of the iPhone 13 revealed that Apple chose to use chips from Micron competitors SK Hynix and Kioxia this time around. This isn't a problem for Micron, though, since the smartphone market is much bigger than Apple, with 5G smartphone sales expected to reach 500 million units this year.</p>\n<p>Given the growth Micron is seeing across the data center, mobile, automotive, and industrial markets, the stock looks particularly attractive at a forward P/E of just 7.2. Throw in a small quarterly dividend of $0.10 per share (yielding about 0.15% at the current stock price),&nbsp;and investors are looking at one cheap stock to invest in the&nbsp;5G growth cycle.</p>\n<h2>Zynga: A fast-growing mobile game producer</h2>\n<p>It's not just hardware suppliers that will benefit from 5G. People who play mobile games will see significant benefits, such as faster downloads, from the technology and Zynga is the company behind several popular mobile games, including <i>FarmVille</i>, <i>Merge Magic!</i>, <i>Empires &amp; Puzzles</i>, and <i>Words With Friends</i>.&nbsp;The stock has delivered a return of 150% over the last five years, and the era of 5G could significantly boost player engagement and growth for this company.</p>\n<p>Players using 5G devices will be able to download games with large file sizes much faster while away from their home Wi-Fi network, which could increase player engagement. 5G speeds will also bring major benefits to online multiplayer games, such as Zynga's <i>CSR Racing</i>.&nbsp;Overall, games will look better and play faster.</p>\n<p>Management estimates that investments in international growth, cross-platform play, launching hyper-casual games, and mobile advertising put the company's long-term addressable market at $240 billion.&nbsp;Zynga generated just $2.5 billion in revenue over the last four quarters,&nbsp;with second-quarter bookings up a robust 37% year over year.</p>\n<p>However, market participants are concerned about slowing growth in the near term, as Zynga numbers come up against high growth during the earlier days of the pandemic. As a result, the stock is down about 31% over the last few months.&nbsp;Given that mobile gaming is already the fastest-growing segment in the $175 billion video game industry,&nbsp;an investment in Zynga at the beginning of the 5G upgrade cycle could lead to stellar returns for investors over the next five years.</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 5G Stocks to Buy in 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\">\n3 5G Stocks to Buy in October\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-15 21:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The era of 5G is here, and there are several ways to invest behind the improvements that faster download speeds will bring smartphone users.\nHere's why I believe Apple (NASDAQ:AAPL), Micron Technology...</p>\n\n<a href=\"https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","MU":"美光科技","ZNGA":"Zynga"},"source_url":"https://www.fool.com/investing/2021/10/15/3-5g-stocks-to-buy-in-october/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2175117376","content_text":"The era of 5G is here, and there are several ways to invest behind the improvements that faster download speeds will bring smartphone users.\nHere's why I believe Apple (NASDAQ:AAPL), Micron Technology (NASDAQ:MU), and Zynga (NASDAQ:ZNGA) are no-brainer buys right now.\nImage source: Getty Images.\nApple: The top brand benefiting from 5G upgrades\nApple is probably the safest stock to invest in 5G that still offers decent return potential. While Apple might look somewhat expensive at a price-to-earnings ratio of 27, analysts have been underestimating the iPhone maker for years. The stock has delivered multibagger returns over the last decade even though the brand was just as well known in 2011 as it is today.\nWait times for the newest iPhones are reported to be the longest in at least four years at more than four weeks. While Wall Street tries to figure out whether it's genuine demand or supply shortages creating the delays, the only thing that matters is that the 5G upgrade cycle is definitely here, and it's going to lead to more revenue growth for Apple over the next few years.\nApple started the year with an installed base of 1.65 billion devices worldwide, a new record. The introduction of 5G on the iPhone 12 drove strong revenue performance a year ago. Through the first three quarters of fiscal 2021  (through June), iPhone sales were up 37.5% year over year. The new iPhone 13 should pull in users that skipped last year's upgrade, especially once people get a look at the smoothness of the new screens on the Pro models.\nThe iPhone is the flywheel product for Apple, since strong sales tend to spill over to other products and services. All said, Apple is looking at a profitable stretch of growth and is a good bet for investors.\nMicron Technology: A top provider of essential mobile hardware\nMicron is a leading supplier of dynamic random-access memory (DRAM), non-volatile memory (NAND), and NOR flash memory and storage products that are used in consumer PCs, data centers, and by some of the leading smartphone manufacturers. Long-term demand trends in the data center and 5G markets are driving a strong growth phase for the company, with revenue up 29% in fiscal 2021, which ended in September.\nMicron's mobile business unit grew 26% in fiscal 2021 and accounted for slightly more than a quarter of its total revenue. Management is anticipating another strong year of growth, as 5G phones contain significantly more memory capacity than 4G phones.\nMicron has supplied products for iPhones in the past, but a recent teardown of the iPhone 13 revealed that Apple chose to use chips from Micron competitors SK Hynix and Kioxia this time around. This isn't a problem for Micron, though, since the smartphone market is much bigger than Apple, with 5G smartphone sales expected to reach 500 million units this year.\nGiven the growth Micron is seeing across the data center, mobile, automotive, and industrial markets, the stock looks particularly attractive at a forward P/E of just 7.2. Throw in a small quarterly dividend of $0.10 per share (yielding about 0.15% at the current stock price), and investors are looking at one cheap stock to invest in the 5G growth cycle.\nZynga: A fast-growing mobile game producer\nIt's not just hardware suppliers that will benefit from 5G. People who play mobile games will see significant benefits, such as faster downloads, from the technology and Zynga is the company behind several popular mobile games, including FarmVille, Merge Magic!, Empires & Puzzles, and Words With Friends. The stock has delivered a return of 150% over the last five years, and the era of 5G could significantly boost player engagement and growth for this company.\nPlayers using 5G devices will be able to download games with large file sizes much faster while away from their home Wi-Fi network, which could increase player engagement. 5G speeds will also bring major benefits to online multiplayer games, such as Zynga's CSR Racing. Overall, games will look better and play faster.\nManagement estimates that investments in international growth, cross-platform play, launching hyper-casual games, and mobile advertising put the company's long-term addressable market at $240 billion. Zynga generated just $2.5 billion in revenue over the last four quarters, with second-quarter bookings up a robust 37% year over year.\nHowever, market participants are concerned about slowing growth in the near term, as Zynga numbers come up against high growth during the earlier days of the pandemic. As a result, the stock is down about 31% over the last few months. Given that mobile gaming is already the fastest-growing segment in the $175 billion video game industry, an investment in Zynga at the beginning of the 5G upgrade cycle could lead to stellar returns for investors over the next five years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865213247,"gmtCreate":1632985732163,"gmtModify":1632986279151,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"THank you.","listText":"THank you.","text":"THank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865213247","repostId":"2171986054","repostType":4,"repost":{"id":"2171986054","pubTimestamp":1632973200,"share":"https://www.laohu8.com/m/news/2171986054?lang=&edition=full","pubTime":"2021-09-30 11:40","market":"us","language":"en","title":"3 Vanguard ETFs I'm Buying if the Stock Market Crashes","url":"https://stock-news.laohu8.com/highlight/detail?id=2171986054","media":"Motley Fool","summary":"Nobody knows whether the market will crash. But if it does, I'm stocking up on these investments.","content":"<blockquote>\n <b>Nobody knows whether the market will crash. But if it does, I'm stocking up on these investments.</b>\n</blockquote>\n<p><b>Key Points</b></p>\n<ul>\n <li>The Vanguard S&amp;P 500 ETF can be a great option for withstanding market volatility.</li>\n <li>The Vanguard Total Stock Market ETF can help reduce your risk.</li>\n <li>The Vanguard Growth ETF can supercharge your investments.</li>\n</ul>\n<p>Over the past year and a half, the stock market has experienced <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the greatest growth streaks in history. The <b>S&amp;P 500</b> is up nearly 100% since March 2020, and investors have seen their portfolios skyrocket during that time.</p>\n<p>Some experts believe, however, that it's only a matter of time before prices fall. Market downturns may be intimidating, but they're normal. In fact, it's healthy for the market to experience corrections every so often, because stock prices can't continue climbing forever.</p>\n<p>Nobody knows for sure whether a crash is on the horizon, or, if it does happen, how significant it will be. However, if the market does take a turn for the worse, there are a few exchange-traded funds (ETFs) I'll be buying.</p>\n<p><img src=\"https://static.tigerbbs.com/9c5cb96961b54db9d77a960894b88df7\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. Vanguard S&amp;P 500 ETF (VOO)</h3>\n<p>It may seem counterintuitive to buy when the market is down, but crashes can be a fantastic opportunity to invest when prices are lower. ETFs trade like stocks, so when the market is down, their share prices are typically lower as well.</p>\n<p>One ETF I'm planning to invest in heavily if the market crashes is the <b>Vanguard S&amp;P 500 ETF</b> (NYSEMKT:VOO). Like its name suggests, this fund tracks the S&amp;P 500 and includes all the stocks within the index itself.</p>\n<p>The S&amp;P 500 ETF is one of the most dependable investments out there. Historically, the index itself has faced countless crashes and corrections, and it has recovered from each and every one. If the market crashes again, there's a very good chance this ETF will be able to bounce back. And by buying when prices are lower, you'll reap the rewards once the market recovers and prices increase once again.</p>\n<h3>2. Vanguard Total Stock Market ETF (VTI)</h3>\n<p>The <b>Vanguard Total Stock Market ETF</b> (NYSEMKT:VTI) is similar to the S&amp;P 500 ETF, but it includes more stocks from more diverse companies.</p>\n<p>The S&amp;P 500 ETF includes stocks from 500 large companies, while the Total Stock Market ETF includes nearly 4,000 stocks from small, midsize, and large corporations. This provides greater diversification and can decrease your risk.</p>\n<p>Another advantage of this fund is that it's designed to follow the market as a whole. Again, the stock market has a strong track record when it comes to recovering from downturns, so by investing in this ETF, it's likely your investments will recover as well.</p>\n<h3>3. Vanguard Growth ETF (VUG)</h3>\n<p>The <b>Vanguard Growth ETF</b> (NYSEMKT:VUG) includes 285 stocks from companies that are expected to grow at a faster-than-average pace.</p>\n<p>This fund includes the fewest holdings of the three ETFs on the list, which does make it slightly riskier. However, many of the biggest stocks in the fund are from behemoth tech corporations like <b>Amazon</b>, <b>Apple</b>, and <b>Microsoft</b> -- companies that are very likely to survive market volatility.</p>\n<p>One of the primary advantages of growth ETFs is that they're designed to earn above-average returns. This particular ETF has earned an average rate of return of around 12% per year since its inception, for example. By comparison, the S&amp;P 500 has historically earned a 10% average annual return, and the Vanguard Total Stock Market ETF has earned an average return of around 9% per year.</p>\n<p>Investing in ETFs can be a fantastic way to build wealth with less effort, and buying during a market downturn can make investing more affordable. While nobody knows for certain whether a market crash is coming, by making a list now of the investments you want to buy, you can snag them at a discount later.</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 Vanguard ETFs I'm Buying if the Stock Market Crashes</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 Vanguard ETFs I'm Buying if the Stock Market Crashes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 11:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/29/3-vanguard-etfs-buy-if-the-stock-market-crashes/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nobody knows whether the market will crash. But if it does, I'm stocking up on these investments.\n\nKey Points\n\nThe Vanguard S&P 500 ETF can be a great option for withstanding market volatility.\nThe ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/29/3-vanguard-etfs-buy-if-the-stock-market-crashes/\">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","VUG":"成长股指数ETF-Vanguard MSCI","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","UPRO":"三倍做多标普500ETF","SPY":"标普500ETF","SH":"标普500反向ETF","VOO":"Vanguard标普500ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","VTI":"大盘指数ETF-Vanguard MSCI","OEF":"标普100指数ETF-iShares","OEX":"标普100",".SPX":"S&P 500 Index"},"source_url":"https://www.fool.com/investing/2021/09/29/3-vanguard-etfs-buy-if-the-stock-market-crashes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2171986054","content_text":"Nobody knows whether the market will crash. But if it does, I'm stocking up on these investments.\n\nKey Points\n\nThe Vanguard S&P 500 ETF can be a great option for withstanding market volatility.\nThe Vanguard Total Stock Market ETF can help reduce your risk.\nThe Vanguard Growth ETF can supercharge your investments.\n\nOver the past year and a half, the stock market has experienced one of the greatest growth streaks in history. The S&P 500 is up nearly 100% since March 2020, and investors have seen their portfolios skyrocket during that time.\nSome experts believe, however, that it's only a matter of time before prices fall. Market downturns may be intimidating, but they're normal. In fact, it's healthy for the market to experience corrections every so often, because stock prices can't continue climbing forever.\nNobody knows for sure whether a crash is on the horizon, or, if it does happen, how significant it will be. However, if the market does take a turn for the worse, there are a few exchange-traded funds (ETFs) I'll be buying.\n\nImage source: Getty Images.\n1. Vanguard S&P 500 ETF (VOO)\nIt may seem counterintuitive to buy when the market is down, but crashes can be a fantastic opportunity to invest when prices are lower. ETFs trade like stocks, so when the market is down, their share prices are typically lower as well.\nOne ETF I'm planning to invest in heavily if the market crashes is the Vanguard S&P 500 ETF (NYSEMKT:VOO). Like its name suggests, this fund tracks the S&P 500 and includes all the stocks within the index itself.\nThe S&P 500 ETF is one of the most dependable investments out there. Historically, the index itself has faced countless crashes and corrections, and it has recovered from each and every one. If the market crashes again, there's a very good chance this ETF will be able to bounce back. And by buying when prices are lower, you'll reap the rewards once the market recovers and prices increase once again.\n2. Vanguard Total Stock Market ETF (VTI)\nThe Vanguard Total Stock Market ETF (NYSEMKT:VTI) is similar to the S&P 500 ETF, but it includes more stocks from more diverse companies.\nThe S&P 500 ETF includes stocks from 500 large companies, while the Total Stock Market ETF includes nearly 4,000 stocks from small, midsize, and large corporations. This provides greater diversification and can decrease your risk.\nAnother advantage of this fund is that it's designed to follow the market as a whole. Again, the stock market has a strong track record when it comes to recovering from downturns, so by investing in this ETF, it's likely your investments will recover as well.\n3. Vanguard Growth ETF (VUG)\nThe Vanguard Growth ETF (NYSEMKT:VUG) includes 285 stocks from companies that are expected to grow at a faster-than-average pace.\nThis fund includes the fewest holdings of the three ETFs on the list, which does make it slightly riskier. However, many of the biggest stocks in the fund are from behemoth tech corporations like Amazon, Apple, and Microsoft -- companies that are very likely to survive market volatility.\nOne of the primary advantages of growth ETFs is that they're designed to earn above-average returns. This particular ETF has earned an average rate of return of around 12% per year since its inception, for example. By comparison, the S&P 500 has historically earned a 10% average annual return, and the Vanguard Total Stock Market ETF has earned an average return of around 9% per year.\nInvesting in ETFs can be a fantastic way to build wealth with less effort, and buying during a market downturn can make investing more affordable. While nobody knows for certain whether a market crash is coming, by making a list now of the investments you want to buy, you can snag them at a discount later.","news_type":1},"isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865116582,"gmtCreate":1632960672586,"gmtModify":1632967541939,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"OMG","listText":"OMG","text":"OMG","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865116582","repostId":"1166409901","repostType":4,"repost":{"id":"1166409901","pubTimestamp":1632959897,"share":"https://www.laohu8.com/m/news/1166409901?lang=&edition=full","pubTime":"2021-09-30 07:58","market":"us","language":"en","title":"Hot Stocks: HLBZ gets PIPE bombed; utilities halt slide; DLTR rallies; FDS hits high; MQ sets post-IPO low","url":"https://stock-news.laohu8.com/highlight/detail?id=1166409901","media":"seekingalpha","summary":"On a mixed performance for the broader average, the utility sector halted a nearly three-week losing","content":"<p>On a mixed performance for the broader average, the utility sector halted a nearly three-week losing streak to represent one of the day's biggest bright spots. This included gains in Sempra Energy(NYSE:SRE), Atmos Energy(NYSE:ATO)and Dominion(NYSE:D).</p>\n<p>Turning to individual stocks, <a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> recorded one of the day's standout performances. A pumped-up stock purchase program and a change in pricing strategy sparked a double-digit percentage advance.</p>\n<p>FactSet Research Systems(NYSE:FDS)continued its post-earnings strength. Shares rose for a second day, advancing to a new 52-week high.</p>\n<p>On the other end of the spectrum, <a href=\"https://laohu8.com/S/MQ\">Marqeta, Inc.</a>&nbsp;added to recent weakness to record its lowest close since coming public.</p>\n<p>Meanwhile, <a href=\"https://laohu8.com/S/HLBZ\">Helbiz, Inc.</a>&nbsp;lost nearly a third of its value after the end of its PIPE lockup.</p>\n<p><b>Sector In Focus</b></p>\n<ul>\n <li>Going into Wednesday's session, utilities had suffered a record losing streak. The S&amp;P 500 Utilities Index(NYSEARCA:XLU)had finished lower in 14 consecutive sessions -- the longest such stretch in its history.</li>\n <li>The index finally halted its slide on Wednesday, finishing the day higher by 1.3%.</li>\n <li>The retreat over the last three weeks came amid a sudden rise in Treasury yields. Since utilities rely on high dividends to attract investors, the sector's performance is often tied to interest rates.</li>\n <li>The XLU had shown significant strength earlier in the year. It rose from early March to late April and then posted another advance from early July into the second half of August.</li>\n <li>This advance took the index to a 52-week high of $70.07.</li>\n <li>However, the prospects of higher rates have weighed on the XLU lately. After finishing at $69.80 the day before, the index began a slide on September 9 that wasn't broken until Wednesday.</li>\n <li>The index finished Wednesday's trading at $64.39.</li>\n <li>In terms of individual performers, Sempra Energy (SRE) climbed 3%, Atmos Energy (ATO) rose a little over 2.5% and Dominion (D) posted a 1.7% gain.</li>\n</ul>\n<p><b>Standout Gainer</b></p>\n<ul>\n <li><a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> jumped more than 16% on Wednesday, driven higher bya stock repurchase plan and the addition of higher price points at the low-cost retailer.</li>\n <li>The company revealed that it has increased its stock repurchase authorization to $2.5B. That represents a more-than-$1B increase compared to the amount remaining under a previous program.</li>\n <li>Meanwhile, DLTR also said it would start offering products at price points above $1, a move that analysts had been predicting.</li>\n <li>Boosted by the news, DLTR gained $14.23 on the session to finish at $100.51. This was its highest close since August 25,when a disappointing earnings report sparked a massive sell-off.</li>\n <li>Wednesday's rally also took the stock further off a 52-week low reached late last week.</li>\n</ul>\n<p><b>Standout Loser</b></p>\n<ul>\n <li>Shares of e-scooter maker <a href=\"https://laohu8.com/S/HLBZ\">Helbiz, Inc.</a> plunged 32% on Tuesday&nbsp;following the end of the recent SPAC's PIPE&nbsp;lock-up period. The drop adds to weakness seen over the previous few days, further reversing some of the gains the volatile stock recorded earlier this month.</li>\n <li>With the end of the lock-up period, early investors in the company's transformation into a public company, who purchase shares in the company through a vehicle known as a PIPE, are able to sell their stock.</li>\n <li>In this case, the permission applies to up to 2.65M shares of common stock and up to 2.65M warrants that have an exercise price of $11.50. Those warrants have 5.75M shares associated with them.</li>\n <li>HLBZ dropped $6.62 on the day to close at $14.05.</li>\n <li>The stock posted a dramatic advance earlier in the month, rising from below $8 a share on Sept. 15 to a post-SPAC closing high of $28.23 on Sept. 21.</li>\n <li>Shares have given back a large share of those gains over the past week or so.</li>\n</ul>\n<p><b>Notable New High</b></p>\n<ul>\n <li>Early Tuesday, FactSet Research Systems (FDS) released a quarterly report that showed&nbsp;better-than-expected earnings and revenue for its latest quarter. The company also issued a revenue forecast that topped the current consensus of market analysts.</li>\n <li>The earnings news sparked a rally in FDS that carried over into Wednesday's session. With the two-day advance, the stock broke above resistance to reach a new 52-week high.</li>\n <li>FDS finished the session at $394.51. This represented a gain of nearly 3% on the session.</li>\n <li>Shares have climbed about 7% over the past two sessions, setting an intraday 52-week high along the way of $399.</li>\n</ul>\n<p><b>Notable New Low</b></p>\n<ul>\n <li>Recent IPO <a href=\"https://laohu8.com/S/MQ\">Marqeta, Inc.</a> suffered its fourth consecutive day of losses on Wednesday, falling by 5% and recording its lowest close since coming public.</li>\n <li>In early June, the fintech priced an IPO at $27 per share and&nbsp;rose in its market debut. The gains continued over the next couple of days, taking the stock to a post-IPO high of $32.75.</li>\n <li>The stock suffered a sell-off from there, followed by choppy trading over the past month and a half.</li>\n <li>With Wednesday's decline, MQ finished at $22.97, dropping 5% during the session. This was its lowest finish since coming public. The stock also set a post-IPO low of $22.70.</li>\n <li>To track Wall Street's biggest movers throughout the session,turn to SA's dynamic On The Move section.</li>\n</ul>","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>Hot Stocks: HLBZ gets PIPE bombed; utilities halt slide; DLTR rallies; FDS hits high; MQ sets post-IPO low</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\">\nHot Stocks: HLBZ gets PIPE bombed; utilities halt slide; DLTR rallies; FDS hits high; MQ sets post-IPO low\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-30 07:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3745943-hot-stocks-hlbz-gets-pipe-bombed-utilities-halt-slide-dltr-rallies-fds-hits-high-mq-sets-post-ipo-low><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On a mixed performance for the broader average, the utility sector halted a nearly three-week losing streak to represent one of the day's biggest bright spots. This included gains in Sempra Energy(...</p>\n\n<a href=\"https://seekingalpha.com/news/3745943-hot-stocks-hlbz-gets-pipe-bombed-utilities-halt-slide-dltr-rallies-fds-hits-high-mq-sets-post-ipo-low\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"D":"道明尼资源",".DJI":"道琼斯","SRE":"桑普拉能源","ATO":"ATMOS能源公司",".SPX":"S&P 500 Index","SPY":"标普500ETF","MQ":"Marqeta, Inc.",".IXIC":"NASDAQ Composite","FDS":"辉盛研究系统"},"source_url":"https://seekingalpha.com/news/3745943-hot-stocks-hlbz-gets-pipe-bombed-utilities-halt-slide-dltr-rallies-fds-hits-high-mq-sets-post-ipo-low","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166409901","content_text":"On a mixed performance for the broader average, the utility sector halted a nearly three-week losing streak to represent one of the day's biggest bright spots. This included gains in Sempra Energy(NYSE:SRE), Atmos Energy(NYSE:ATO)and Dominion(NYSE:D).\nTurning to individual stocks, Dollar Tree recorded one of the day's standout performances. A pumped-up stock purchase program and a change in pricing strategy sparked a double-digit percentage advance.\nFactSet Research Systems(NYSE:FDS)continued its post-earnings strength. Shares rose for a second day, advancing to a new 52-week high.\nOn the other end of the spectrum, Marqeta, Inc. added to recent weakness to record its lowest close since coming public.\nMeanwhile, Helbiz, Inc. lost nearly a third of its value after the end of its PIPE lockup.\nSector In Focus\n\nGoing into Wednesday's session, utilities had suffered a record losing streak. The S&P 500 Utilities Index(NYSEARCA:XLU)had finished lower in 14 consecutive sessions -- the longest such stretch in its history.\nThe index finally halted its slide on Wednesday, finishing the day higher by 1.3%.\nThe retreat over the last three weeks came amid a sudden rise in Treasury yields. Since utilities rely on high dividends to attract investors, the sector's performance is often tied to interest rates.\nThe XLU had shown significant strength earlier in the year. It rose from early March to late April and then posted another advance from early July into the second half of August.\nThis advance took the index to a 52-week high of $70.07.\nHowever, the prospects of higher rates have weighed on the XLU lately. After finishing at $69.80 the day before, the index began a slide on September 9 that wasn't broken until Wednesday.\nThe index finished Wednesday's trading at $64.39.\nIn terms of individual performers, Sempra Energy (SRE) climbed 3%, Atmos Energy (ATO) rose a little over 2.5% and Dominion (D) posted a 1.7% gain.\n\nStandout Gainer\n\nDollar Tree jumped more than 16% on Wednesday, driven higher bya stock repurchase plan and the addition of higher price points at the low-cost retailer.\nThe company revealed that it has increased its stock repurchase authorization to $2.5B. That represents a more-than-$1B increase compared to the amount remaining under a previous program.\nMeanwhile, DLTR also said it would start offering products at price points above $1, a move that analysts had been predicting.\nBoosted by the news, DLTR gained $14.23 on the session to finish at $100.51. This was its highest close since August 25,when a disappointing earnings report sparked a massive sell-off.\nWednesday's rally also took the stock further off a 52-week low reached late last week.\n\nStandout Loser\n\nShares of e-scooter maker Helbiz, Inc. plunged 32% on Tuesday following the end of the recent SPAC's PIPE lock-up period. The drop adds to weakness seen over the previous few days, further reversing some of the gains the volatile stock recorded earlier this month.\nWith the end of the lock-up period, early investors in the company's transformation into a public company, who purchase shares in the company through a vehicle known as a PIPE, are able to sell their stock.\nIn this case, the permission applies to up to 2.65M shares of common stock and up to 2.65M warrants that have an exercise price of $11.50. Those warrants have 5.75M shares associated with them.\nHLBZ dropped $6.62 on the day to close at $14.05.\nThe stock posted a dramatic advance earlier in the month, rising from below $8 a share on Sept. 15 to a post-SPAC closing high of $28.23 on Sept. 21.\nShares have given back a large share of those gains over the past week or so.\n\nNotable New High\n\nEarly Tuesday, FactSet Research Systems (FDS) released a quarterly report that showed better-than-expected earnings and revenue for its latest quarter. The company also issued a revenue forecast that topped the current consensus of market analysts.\nThe earnings news sparked a rally in FDS that carried over into Wednesday's session. With the two-day advance, the stock broke above resistance to reach a new 52-week high.\nFDS finished the session at $394.51. This represented a gain of nearly 3% on the session.\nShares have climbed about 7% over the past two sessions, setting an intraday 52-week high along the way of $399.\n\nNotable New Low\n\nRecent IPO Marqeta, Inc. suffered its fourth consecutive day of losses on Wednesday, falling by 5% and recording its lowest close since coming public.\nIn early June, the fintech priced an IPO at $27 per share and rose in its market debut. The gains continued over the next couple of days, taking the stock to a post-IPO high of $32.75.\nThe stock suffered a sell-off from there, followed by choppy trading over the past month and a half.\nWith Wednesday's decline, MQ finished at $22.97, dropping 5% during the session. This was its lowest finish since coming public. The stock also set a post-IPO low of $22.70.\nTo track Wall Street's biggest movers throughout the session,turn to SA's dynamic On The Move section.","news_type":1},"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862748306,"gmtCreate":1632919161247,"gmtModify":1632924786529,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I agree","listText":"I agree","text":"I agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862748306","repostId":"2170778116","repostType":4,"repost":{"id":"2170778116","pubTimestamp":1632829153,"share":"https://www.laohu8.com/m/news/2170778116?lang=&edition=full","pubTime":"2021-09-28 19:39","market":"us","language":"en","title":"3 Ultra-Popular Stocks With No Buy Ratings on Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2170778116","media":"Motley Fool","summary":"These widely held stocks are getting no love from analysts.","content":"<p>Looking to buy a stock? Chances are Wall Street has a favorable view of the publicly traded company you're looking to add to your portfolio.</p>\n<p>According to data from CNBC, over 90% of all <b>S&amp;P 500</b> stock ratings from Wall Street analysts were the equivalent of \"buy\" or \"hold\" between 1997 and 2017. With the exception of short periods in 2002-2003 and 2008-2009, sell ratings have consistently accounted for only 1% to 6% of all ratings for S&amp;P 500 companies this century.</p>\n<p>One reason for this \"buy bias\" is due to the U.S. and global economy growing over time. Historically, the stock market moves higher over the long run, too. Wall Street analysts might simply be playing the favorable odds that higher-quality businesses will increase in value over time.</p>\n<p>Additionally, <i>The Wall Street Journal</i> noted some years back that Wall Street analysts are hesitant to issue sell ratings so as not to burn bridges for their clients or themselves with the companies they cover. No matter the reasoning, sell ratings are rare on Wall Street.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb1fd3c71278c123e5dd0404a4dbb43c\" tg-width=\"700\" tg-height=\"525\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<p>But don't tell that to shareholders of the following three ultra-popular stocks. These are three of the 16 most-held stocks on the <b>Robinhood</b> (NASDAQ:HOOD) platform, and not one of them has a single buy rating from a Wall Street analyst.</p>\n<h2>Aurora Cannabis</h2>\n<p>One of the biggest buzzkills, according to Wall Street, is Canadian marijuana stock <b>Aurora Cannabis</b> (NASDAQ:ACB). Aurora, which at one time was the most-held stock on Robinhood, is being covered by 13 Wall Street institutions, seven of which rate the company the equivalent of a hold and six of which believe it's a sell.</p>\n<p>Though Aurora Cannabis does foot the blame for a lot of this negativity, some of its issues can be traced to Canadian federal and provincial regulators failing the pot industry. For example, Ontario's lottery system to assign retail licenses through 2019 was terrible and resulted in only a few dozen dispensaries opening. Canadian pot stocks are still trying to recover from supply chain bottlenecks in the country's most populous province.</p>\n<p>But as I mentioned, Aurora Cannabis isn't without fault. The company expanded its production capacity far beyond what was needed. At one time, it held 15 production facilities that could have yielded more than 600,000 kilos of annual cannabis output if fully operational. Management has since closed five of these smaller facilities, sold a 1-million-square-foot greenhouse that wasn't retrofitted for cannabis production, and halted construction on two of the company's largest projects.</p>\n<p>Yet, even with this aggressive cost-cutting, Aurora Cannabis is still a long way from generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA). With the company continuing to burn cash and the previous management team grossly overpaying for about a dozen acquisitions, it's regularly had to sell its common stock to raise capital to pay its bills and fund buyouts.</p>\n<p>Taking into account a reverse split enacted last year to stave off delisting, Aurora's share count has ballooned from about 1.3 million shares in June 2014 to 198 million shares, as of mid-May. That sort of dilution is precisely why the company's shares are down nearly 95% since March 2019.</p>\n<p>The salt in the wound is that Canada's legal weed sales have been hitting monthly records, all while Aurora's recreational pot revenue was more than halved in its fiscal third quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bc514068ded899a817770f684369db36\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Sundial Growers</h2>\n<p>Yet another Canadian pot stock in the no-buy zone for Wall Street is small-cap <b>Sundial Growers</b> (NASDAQ:SNDL). Even though it's the fourth most-held stock on Robinhood, four of the six analysts covering the company rate it a sell.</p>\n<p>Despite sitting on a boatload of cash, cash equivalents, and long-term investments (about $948 million), Sundial Growers has three factors working against it.</p>\n<p>To begin with, Sundial's approach to raising capital has destroyed shareholder value. Initially, it looked as if management would sell enough common stock to simply pay off the company's outstanding debt. But in a nine-month stretch between Oct. 1, 2020 and June 30, 2021, Sundial's executives have unrelentingly issued stock to raise additional capital.</p>\n<p>The end result is the issuance of roughly 1.5 billion shares of stock. With 2 billion shares now outstanding, Sundial has virtually no chance of ever generating meaningful earnings per share, and it'll likely struggle to remain listed on the <b>Nasdaq</b>&nbsp;exchange without a substantial reverse split.</p>\n<p>Second, Sundial's management team hasn't laid out a concrete plan for its capital. While it did undertake a cash-and-stock deal to acquire <a href=\"https://laohu8.com/S/INSHF\">Inner Spirit Holdings</a> in July, and it's committed roughly $425 million to its joint venture with SAF Group, known as SunStream Bancorp, to invest in cannabis industry opportunities, the company has continued to raise cash with no stated purpose.</p>\n<p>Third, Sundial has shifted its operating model away from wholesale cannabis to take advantage of the higher margins associated with the retail side of the equation. Unfortunately, having to start from scratch has led to significant year-over-year sales declines at a time when legal weed sales are rapidly growing.</p>\n<p>In March I more or less referred to Sundial as the worst cannabis stock money could buy. That descriptor still holds true today.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c6cb4d9fcdf85f542f333fc71a2dd58\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>AMC Entertainment</h2>\n<p>But the most popular stock of all that's getting absolutely no love from Wall Street analysts and investment banks is movie theater chain <b>AMC Entertainment</b> (NYSE:AMC). The third most-held stock on Robinhood has nine analysts covering the company. Five of them have it rated a sell, with four others chiming in with a hold rating.</p>\n<p>This rating distribution isn't a surprise given that Wall Street's consensus price target for AMC is $5.44. Shares of the company would need to fall 86% from where they closed last week to reach this consensus target.</p>\n<p>The reason AMC's share price has rocketed higher in 2021 primarily has to do with retail investors piling into the stock and betting on a short squeeze -- i.e., a very short-term event whereby pessimists (short-sellers) run for the exit and buy shares to cover their positions. The issue for these optimists is that none of the data surrounding AMC is working in their favor.</p>\n<p>For one, short squeezes typically require certain conditions be met, which simply aren't there at the moment. While the company's 18.8% short interest at the end of August is higher than most stocks, its large daily trading volume means it would take less than a day for all 95.94 million short shares to be covered. The liquidity of AMC's stock means short-sellers have no fear of being trapped in their position.</p>\n<p>Fundamentally, the movie theater industry has been in a nearly two-decade decline. Tickets sold and inflation-adjusted gross at the box office have fallen 22% between 2002 and 2019, the last full year before the pandemic. Streaming offerings and substantially reduced film exclusivity (30 to 45 days now, compared to 75 to 90 days prior to the pandemic) bode poorly for the industry's future.</p>\n<p>And then there's AMC's operating performance and liability-riddled balance sheet. Despite a record $2.023 billion in liquidity ($1.81 billion in cash), AMC burned through $576.5 million in cash in the first six months of 2021. Its lease liabilities are soaring, it owes $420 million in deferred rent, and it's lugging around nearly $5.5 billion in debt that it likely can't pay.</p>\n<p>More than $1 billion in aggregate debt due in 2026 and 2027 is also valued at 70% to 74% of face value. Debt going for this much below par is a very real warning sign that bondholders believe a future default is possible.</p>\n<p>Long story short, Wall Street has every reason to be skeptical of AMC.</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 Ultra-Popular Stocks With No Buy Ratings on Wall Street</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Ultra-Popular Stocks With No Buy Ratings on Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-28 19:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/28/3-ultra-popular-stocks-no-buy-ratings-wall-street/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Looking to buy a stock? Chances are Wall Street has a favorable view of the publicly traded company you're looking to add to your portfolio.\nAccording to data from CNBC, over 90% of all S&P 500 stock ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/28/3-ultra-popular-stocks-no-buy-ratings-wall-street/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNDL":"SNDL Inc.","ACB":"奥罗拉大麻公司","AMC":"AMC院线"},"source_url":"https://www.fool.com/investing/2021/09/28/3-ultra-popular-stocks-no-buy-ratings-wall-street/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170778116","content_text":"Looking to buy a stock? Chances are Wall Street has a favorable view of the publicly traded company you're looking to add to your portfolio.\nAccording to data from CNBC, over 90% of all S&P 500 stock ratings from Wall Street analysts were the equivalent of \"buy\" or \"hold\" between 1997 and 2017. With the exception of short periods in 2002-2003 and 2008-2009, sell ratings have consistently accounted for only 1% to 6% of all ratings for S&P 500 companies this century.\nOne reason for this \"buy bias\" is due to the U.S. and global economy growing over time. Historically, the stock market moves higher over the long run, too. Wall Street analysts might simply be playing the favorable odds that higher-quality businesses will increase in value over time.\nAdditionally, The Wall Street Journal noted some years back that Wall Street analysts are hesitant to issue sell ratings so as not to burn bridges for their clients or themselves with the companies they cover. No matter the reasoning, sell ratings are rare on Wall Street.\nImage source: Getty Images.\nBut don't tell that to shareholders of the following three ultra-popular stocks. These are three of the 16 most-held stocks on the Robinhood (NASDAQ:HOOD) platform, and not one of them has a single buy rating from a Wall Street analyst.\nAurora Cannabis\nOne of the biggest buzzkills, according to Wall Street, is Canadian marijuana stock Aurora Cannabis (NASDAQ:ACB). Aurora, which at one time was the most-held stock on Robinhood, is being covered by 13 Wall Street institutions, seven of which rate the company the equivalent of a hold and six of which believe it's a sell.\nThough Aurora Cannabis does foot the blame for a lot of this negativity, some of its issues can be traced to Canadian federal and provincial regulators failing the pot industry. For example, Ontario's lottery system to assign retail licenses through 2019 was terrible and resulted in only a few dozen dispensaries opening. Canadian pot stocks are still trying to recover from supply chain bottlenecks in the country's most populous province.\nBut as I mentioned, Aurora Cannabis isn't without fault. The company expanded its production capacity far beyond what was needed. At one time, it held 15 production facilities that could have yielded more than 600,000 kilos of annual cannabis output if fully operational. Management has since closed five of these smaller facilities, sold a 1-million-square-foot greenhouse that wasn't retrofitted for cannabis production, and halted construction on two of the company's largest projects.\nYet, even with this aggressive cost-cutting, Aurora Cannabis is still a long way from generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA). With the company continuing to burn cash and the previous management team grossly overpaying for about a dozen acquisitions, it's regularly had to sell its common stock to raise capital to pay its bills and fund buyouts.\nTaking into account a reverse split enacted last year to stave off delisting, Aurora's share count has ballooned from about 1.3 million shares in June 2014 to 198 million shares, as of mid-May. That sort of dilution is precisely why the company's shares are down nearly 95% since March 2019.\nThe salt in the wound is that Canada's legal weed sales have been hitting monthly records, all while Aurora's recreational pot revenue was more than halved in its fiscal third quarter.\nImage source: Getty Images.\nSundial Growers\nYet another Canadian pot stock in the no-buy zone for Wall Street is small-cap Sundial Growers (NASDAQ:SNDL). Even though it's the fourth most-held stock on Robinhood, four of the six analysts covering the company rate it a sell.\nDespite sitting on a boatload of cash, cash equivalents, and long-term investments (about $948 million), Sundial Growers has three factors working against it.\nTo begin with, Sundial's approach to raising capital has destroyed shareholder value. Initially, it looked as if management would sell enough common stock to simply pay off the company's outstanding debt. But in a nine-month stretch between Oct. 1, 2020 and June 30, 2021, Sundial's executives have unrelentingly issued stock to raise additional capital.\nThe end result is the issuance of roughly 1.5 billion shares of stock. With 2 billion shares now outstanding, Sundial has virtually no chance of ever generating meaningful earnings per share, and it'll likely struggle to remain listed on the Nasdaq exchange without a substantial reverse split.\nSecond, Sundial's management team hasn't laid out a concrete plan for its capital. While it did undertake a cash-and-stock deal to acquire Inner Spirit Holdings in July, and it's committed roughly $425 million to its joint venture with SAF Group, known as SunStream Bancorp, to invest in cannabis industry opportunities, the company has continued to raise cash with no stated purpose.\nThird, Sundial has shifted its operating model away from wholesale cannabis to take advantage of the higher margins associated with the retail side of the equation. Unfortunately, having to start from scratch has led to significant year-over-year sales declines at a time when legal weed sales are rapidly growing.\nIn March I more or less referred to Sundial as the worst cannabis stock money could buy. That descriptor still holds true today.\nImage source: Getty Images.\nAMC Entertainment\nBut the most popular stock of all that's getting absolutely no love from Wall Street analysts and investment banks is movie theater chain AMC Entertainment (NYSE:AMC). The third most-held stock on Robinhood has nine analysts covering the company. Five of them have it rated a sell, with four others chiming in with a hold rating.\nThis rating distribution isn't a surprise given that Wall Street's consensus price target for AMC is $5.44. Shares of the company would need to fall 86% from where they closed last week to reach this consensus target.\nThe reason AMC's share price has rocketed higher in 2021 primarily has to do with retail investors piling into the stock and betting on a short squeeze -- i.e., a very short-term event whereby pessimists (short-sellers) run for the exit and buy shares to cover their positions. The issue for these optimists is that none of the data surrounding AMC is working in their favor.\nFor one, short squeezes typically require certain conditions be met, which simply aren't there at the moment. While the company's 18.8% short interest at the end of August is higher than most stocks, its large daily trading volume means it would take less than a day for all 95.94 million short shares to be covered. The liquidity of AMC's stock means short-sellers have no fear of being trapped in their position.\nFundamentally, the movie theater industry has been in a nearly two-decade decline. Tickets sold and inflation-adjusted gross at the box office have fallen 22% between 2002 and 2019, the last full year before the pandemic. Streaming offerings and substantially reduced film exclusivity (30 to 45 days now, compared to 75 to 90 days prior to the pandemic) bode poorly for the industry's future.\nAnd then there's AMC's operating performance and liability-riddled balance sheet. Despite a record $2.023 billion in liquidity ($1.81 billion in cash), AMC burned through $576.5 million in cash in the first six months of 2021. Its lease liabilities are soaring, it owes $420 million in deferred rent, and it's lugging around nearly $5.5 billion in debt that it likely can't pay.\nMore than $1 billion in aggregate debt due in 2026 and 2027 is also valued at 70% to 74% of face value. Debt going for this much below par is a very real warning sign that bondholders believe a future default is possible.\nLong story short, Wall Street has every reason to be skeptical of AMC.","news_type":1},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862743328,"gmtCreate":1632918823843,"gmtModify":1632924786347,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Thank you.","listText":"Thank you.","text":"Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862743328","repostId":"2170770176","repostType":4,"repost":{"id":"2170770176","pubTimestamp":1632837377,"share":"https://www.laohu8.com/m/news/2170770176?lang=&edition=full","pubTime":"2021-09-28 21:56","market":"us","language":"en","title":"Don't Wait for a Market Crash: 2 Stocks to Buy Now","url":"https://stock-news.laohu8.com/highlight/detail?id=2170770176","media":"Motley Fool","summary":"The future looks bright for these tech companies.","content":"<p>Legendary investor Peter Lynch&nbsp;once said: \"Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.\" In other words, even if a market crash seems imminent, no <a href=\"https://laohu8.com/S/AONE.U\">one</a> actually knows the future, and trying to time the market often results in missed opportunities.</p>\n<p>From that perspective, it makes more sense to invest on a regular basis, even if it's a small sum of money. In doing so, you build positions through dollar-costing averaging, which helps protect your portfolio from short-term market volatility. With that in mind, <b>Elastic</b> (NYSE:ESTC) and <b>Palantir Technologies</b> (NYSE:PLTR) look like smart stocks to buy right now.</p>\n<p>Here's why.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d02e6cbf04a6fb81798056c8938fbcde\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>1. Elastic</h2>\n<p>Elastic is a search company. At the core of its platform is the Elastic Stack, a set of software tools designed to ingest and log data from any source (e.g. software, infrastructure), then help clients search and analyze that information. Broadly speaking, these tools have three use cases: enterprise search, observability, and security.</p>\n<p>Elastic enterprise search is a workplace search engine. This application allows users to sift through corporate resources to find a particular item; it also allows developers to embed search bars in websites and mobile apps. Similarly, Elastic observability unifies logs, metrics, and application traces, allowing IT teams to analyze performance data, troubleshoot problems, and keep business-critical systems online. And Elastic security brings the same features to threat detection.</p>\n<p>Digital transformation has been a powerful growth driver for Elastic. As enterprises have adopted new technologies and digitized various processes, workplace search, observability, and security have become more critical. At the same time, Elastic's developer-friendly tools and freemium pricing model have helped the company win new customers at a rapid clip. In fact, Elastic is the most popular workplace search engine by a wide margin, according to DB-Engines.</p>\n<p>That advantage has helped the company grow its top line quickly. And while Elastic isn't profitable on a GAAP basis, it did generate $9.1 million in free cash flow over the last year.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021 (TTM)</p></th>\n   <th><p>Q1 2022 (TTM)</p></th>\n   <th><p>CAGR</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td width=\"156\"><p>Revenue</p></td>\n   <td width=\"156\"><p>$466.8 million</p></td>\n   <td width=\"156\"><p>$672.7 million</p></td>\n   <td width=\"156\"><p>44%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: YCharts. Note: Q1 2022 ended July 31, 2021. TTM = trailing-12-months. CAGR = compound annual growth rate.</p>\n<p>Turning to the future, digital transformation should remain a tailwind for Elastic, and management is executing on a strong growth strategy.</p>\n<p>The company recently enhanced its security offering with the launch of an extended detection and response platform, a product that unifies security information and event management, endpoint protection, and cloud security. Elastic also rolled out new features for its enterprise search and observability applications, simplifying data ingestion and analytics to optimize search and automate root cause analysis.</p>\n<p>Management currently values the company's market opportunity at $78 billion, meaning Elastic has plenty of room to grow. And given its strong competitive position, I think shareholders will be well rewarded in the years ahead. That's why you should consider adding this growth stock to your portfolio.</p>\n<h2>2. Palantir Technologies</h2>\n<p>Palantir helps clients manage and make sense of big data. The company's software platforms -- Gotham (government sector) and Foundry (commercial sector) -- simplify data integration and analytics, allowing companies to unify siloed data sets, make informed decisions, and build AI models and data-driven applications.</p>\n<p>For example, Palantir's software helps manufacturers optimize supply chains, pharmaceutical companies accelerate drug discovery, and financial service providers detect and prevent fraud. Of course, data analytics is a trendy industry and Palantir faces plenty of competition, but its past gives it an edge over its rivals.</p>\n<p>Specifically, U.S. intelligence agencies (like the CIA and NSA) have used Palantir's software to handle classified information, demonstrating the company's expertise in data governance. Not surprisingly, Palantir's brand name has become synonymous with government-grade security, and that has translated into impressive financial results.</p>\n<p>The company's top line is growing at a steady clip, and Palantir generated $61.7 million in free cash flow over the past year.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q2 2020 (TTM)</p></th>\n   <th><p>Q2 2021 (TTM)</p></th>\n   <th><p>CAGR</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td width=\"156\"><p>Revenue</p></td>\n   <td width=\"156\"><p>$901.1 million</p></td>\n   <td width=\"156\"><p>$1.3 billion</p></td>\n   <td width=\"156\"><p>47%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: YCharts. TTM = trailing-12-months. CAGR = compound annual growth rate.</p>\n<p>During the most recent quarter, Palantir closed 62 new deals worth at least $1 million, and 21 of those contracts are worth $10 million or more. The company also grew its commercial customers by 32%&nbsp;on a sequential basis. This should help supercharge revenue from the commercial sector, which has been growing more slowly than sales in the government sector.</p>\n<p>Going forward, digital transformation will continue to accelerate data production, and organizations that have the tools to harness that data stand to gain a competitive advantage. This tailwind should be a powerful growth driver for Palantir. That's why this growth stock looks like a good addition to a diversified portfolio.</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>Don't Wait for a Market Crash: 2 Stocks to Buy Now</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\">\nDon't Wait for a Market Crash: 2 Stocks to Buy Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-28 21:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/28/dont-wait-for-a-market-crash-2-stocks-to-buy-now/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Legendary investor Peter Lynch once said: \"Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.\" In other words, even if a market crash ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/28/dont-wait-for-a-market-crash-2-stocks-to-buy-now/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESTC":"Elastic N.V.","PLTR":"Palantir Technologies Inc."},"source_url":"https://www.fool.com/investing/2021/09/28/dont-wait-for-a-market-crash-2-stocks-to-buy-now/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170770176","content_text":"Legendary investor Peter Lynch once said: \"Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.\" In other words, even if a market crash seems imminent, no one actually knows the future, and trying to time the market often results in missed opportunities.\nFrom that perspective, it makes more sense to invest on a regular basis, even if it's a small sum of money. In doing so, you build positions through dollar-costing averaging, which helps protect your portfolio from short-term market volatility. With that in mind, Elastic (NYSE:ESTC) and Palantir Technologies (NYSE:PLTR) look like smart stocks to buy right now.\nHere's why.\nImage source: Getty Images.\n1. Elastic\nElastic is a search company. At the core of its platform is the Elastic Stack, a set of software tools designed to ingest and log data from any source (e.g. software, infrastructure), then help clients search and analyze that information. Broadly speaking, these tools have three use cases: enterprise search, observability, and security.\nElastic enterprise search is a workplace search engine. This application allows users to sift through corporate resources to find a particular item; it also allows developers to embed search bars in websites and mobile apps. Similarly, Elastic observability unifies logs, metrics, and application traces, allowing IT teams to analyze performance data, troubleshoot problems, and keep business-critical systems online. And Elastic security brings the same features to threat detection.\nDigital transformation has been a powerful growth driver for Elastic. As enterprises have adopted new technologies and digitized various processes, workplace search, observability, and security have become more critical. At the same time, Elastic's developer-friendly tools and freemium pricing model have helped the company win new customers at a rapid clip. In fact, Elastic is the most popular workplace search engine by a wide margin, according to DB-Engines.\nThat advantage has helped the company grow its top line quickly. And while Elastic isn't profitable on a GAAP basis, it did generate $9.1 million in free cash flow over the last year.\n\n\n\nMetric\nQ1 2021 (TTM)\nQ1 2022 (TTM)\nCAGR\n\n\n\n\nRevenue\n$466.8 million\n$672.7 million\n44%\n\n\n\nSource: YCharts. Note: Q1 2022 ended July 31, 2021. TTM = trailing-12-months. CAGR = compound annual growth rate.\nTurning to the future, digital transformation should remain a tailwind for Elastic, and management is executing on a strong growth strategy.\nThe company recently enhanced its security offering with the launch of an extended detection and response platform, a product that unifies security information and event management, endpoint protection, and cloud security. Elastic also rolled out new features for its enterprise search and observability applications, simplifying data ingestion and analytics to optimize search and automate root cause analysis.\nManagement currently values the company's market opportunity at $78 billion, meaning Elastic has plenty of room to grow. And given its strong competitive position, I think shareholders will be well rewarded in the years ahead. That's why you should consider adding this growth stock to your portfolio.\n2. Palantir Technologies\nPalantir helps clients manage and make sense of big data. The company's software platforms -- Gotham (government sector) and Foundry (commercial sector) -- simplify data integration and analytics, allowing companies to unify siloed data sets, make informed decisions, and build AI models and data-driven applications.\nFor example, Palantir's software helps manufacturers optimize supply chains, pharmaceutical companies accelerate drug discovery, and financial service providers detect and prevent fraud. Of course, data analytics is a trendy industry and Palantir faces plenty of competition, but its past gives it an edge over its rivals.\nSpecifically, U.S. intelligence agencies (like the CIA and NSA) have used Palantir's software to handle classified information, demonstrating the company's expertise in data governance. Not surprisingly, Palantir's brand name has become synonymous with government-grade security, and that has translated into impressive financial results.\nThe company's top line is growing at a steady clip, and Palantir generated $61.7 million in free cash flow over the past year.\n\n\n\nMetric\nQ2 2020 (TTM)\nQ2 2021 (TTM)\nCAGR\n\n\n\n\nRevenue\n$901.1 million\n$1.3 billion\n47%\n\n\n\nSource: YCharts. TTM = trailing-12-months. CAGR = compound annual growth rate.\nDuring the most recent quarter, Palantir closed 62 new deals worth at least $1 million, and 21 of those contracts are worth $10 million or more. The company also grew its commercial customers by 32% on a sequential basis. This should help supercharge revenue from the commercial sector, which has been growing more slowly than sales in the government sector.\nGoing forward, digital transformation will continue to accelerate data production, and organizations that have the tools to harness that data stand to gain a competitive advantage. This tailwind should be a powerful growth driver for Palantir. That's why this growth stock looks like a good addition to a diversified portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862741276,"gmtCreate":1632919066144,"gmtModify":1632924786467,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Very good news","listText":"Very good news","text":"Very good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862741276","repostId":"1144324950","repostType":4,"repost":{"id":"1144324950","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":1632917024,"share":"https://www.laohu8.com/m/news/1144324950?lang=&edition=full","pubTime":"2021-09-29 20:03","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1144324950","media":"Tiger Newspress","summary":"U.S. futures rebound on Wednesday as technology stocks led a rebound after concerns about inflation ","content":"<p>U.S. futures rebound on Wednesday as technology stocks led a rebound after concerns about inflation and rising Treasury yields drove one of Wall Street's worst selloff of this year.</p>\n<p>At 8:00 a.m. ET, Dow e-minis were up 120 points, or 0.35%, S&amp;P 500 e-minis were up 21.75 points, or 0.5%, and Nasdaq 100 e-minis were up 94.25 points, or 0.64%.</p>\n<p><img src=\"https://static.tigerbbs.com/d546c679da6871dc31801537eae7ca49\" tg-width=\"1080\" tg-height=\"414\" width=\"100%\" height=\"auto\"></p>\n<p>Shares of heavyweights Amazon.com Inc, Facebook Inc, Microsoft Corp, Apple&nbsp;and Google-parent Alphabet Inc&nbsp;rose between 0.3% and 1% in premarket trading.</p>\n<p>Oil firms including Exxon Mobil&nbsp;and Chevron Corp&nbsp;dipped as a rally in crude prices petered out. The S&amp;P energy sector&nbsp;has gained 3.9% so far this week and is on track for its best monthly performance since February.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Micron Technology(MU)</b> – Micron reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker’s revenue also topping Street forecasts. However, its current-quarter forecast fell below consensus, due to computer-making customers facing shortages of other parts, and the stock fell 3.6% in the premarket.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker’s stock gained 2.2% in premarket trading after Citi upgraded it to “buy” from “neutral.” Citi points to valuation following a more than 15% drop in the share price, as well as its above-Street consensus earnings outlook for Lilly following a recent meeting with management.</p>\n<p><b>Netflix(NFLX)</b> – Netflix rose 1% in the premarket after announcing that it bought videogame maker Night School Studio in a move to diversify its revenue sources. Night School Studio is best known for the supernatural-themed video game “Oxenfree.”</p>\n<p><b>Lucid Group(LCID)</b> – Lucid plans to deliver its first electric luxury sedans in late October, after kicking off production at its Arizona factory on Tuesday. Lucid said its vehicles will have a greater driving range than comparable cars from rival&nbsp;Tesla(TSLA). The stock surged 6.5% in premarket trading.</p>\n<p><b>Boeing Co</b><b>(BA)</b>&nbsp;–&nbsp;Boeing&nbsp;stock&nbsp;rose 2.5% after it said 737 MAX test flight for China's aviation regulator last month was successful and the planemaker hopes a two-year grounding will be lifted this year.</p>\n<p><b>Dollar Tree(DLTR)</b> – Dollar Tree jumped 6.6% in the premarket after the discount retailer increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion.</p>\n<p><b>ASML(ASML) </b>– ASML raised its annual sales outlook and the maker of semiconductor manufacturing equipment said it would see 11% annual growth through 2030 as demand for its products booms. The stock added 1% in the premarket.</p>\n<p><b>AbbVie(ABBV) </b>– AbbVie won FDA approval for its once-daily oral migraine treatment. The drug known as Qulipta was one of the treatments acquired in AbbVie’s $63 billion purchase of Allergan last year.</p>\n<p><b>Sherwin-Williams(SHW) </b>– Sherwin-Williams cut its third-quarter guidance with the paint maker pointing to raw-material shortages and higher input costs. It said it no longer expects to see improved supply or lower prices for raw materials during the fourth quarter as it had previously projected. Sherwin-Williams fell 2% in premarket action.</p>\n<p><b>Affirm Holdings(AFRM)</b> – The financial services company said it will offer a debit card as well as allow customers to execute cryptocurrency transactions directly from savings accounts. Affirm shares jumped 3.1% in the premarket.</p>\n<p><b>Cal-Maine Foods(CALM) </b>– Cal-Maine rallied 4.4% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. The egg producer’s revenue topped Street forecasts as it benefited from higher egg prices.</p>\n<p><b>Warby Parker(WRBY)</b> – The eyewear maker debuts on Wall Street today, going public via a direct listing at a reference price of $40 per share. That gives the company an initial valuation of nearly $5 billion.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-29 20:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. futures rebound on Wednesday as technology stocks led a rebound after concerns about inflation and rising Treasury yields drove one of Wall Street's worst selloff of this year.</p>\n<p>At 8:00 a.m. ET, Dow e-minis were up 120 points, or 0.35%, S&amp;P 500 e-minis were up 21.75 points, or 0.5%, and Nasdaq 100 e-minis were up 94.25 points, or 0.64%.</p>\n<p><img src=\"https://static.tigerbbs.com/d546c679da6871dc31801537eae7ca49\" tg-width=\"1080\" tg-height=\"414\" width=\"100%\" height=\"auto\"></p>\n<p>Shares of heavyweights Amazon.com Inc, Facebook Inc, Microsoft Corp, Apple&nbsp;and Google-parent Alphabet Inc&nbsp;rose between 0.3% and 1% in premarket trading.</p>\n<p>Oil firms including Exxon Mobil&nbsp;and Chevron Corp&nbsp;dipped as a rally in crude prices petered out. The S&amp;P energy sector&nbsp;has gained 3.9% so far this week and is on track for its best monthly performance since February.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Micron Technology(MU)</b> – Micron reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker’s revenue also topping Street forecasts. However, its current-quarter forecast fell below consensus, due to computer-making customers facing shortages of other parts, and the stock fell 3.6% in the premarket.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker’s stock gained 2.2% in premarket trading after Citi upgraded it to “buy” from “neutral.” Citi points to valuation following a more than 15% drop in the share price, as well as its above-Street consensus earnings outlook for Lilly following a recent meeting with management.</p>\n<p><b>Netflix(NFLX)</b> – Netflix rose 1% in the premarket after announcing that it bought videogame maker Night School Studio in a move to diversify its revenue sources. Night School Studio is best known for the supernatural-themed video game “Oxenfree.”</p>\n<p><b>Lucid Group(LCID)</b> – Lucid plans to deliver its first electric luxury sedans in late October, after kicking off production at its Arizona factory on Tuesday. Lucid said its vehicles will have a greater driving range than comparable cars from rival&nbsp;Tesla(TSLA). The stock surged 6.5% in premarket trading.</p>\n<p><b>Boeing Co</b><b>(BA)</b>&nbsp;–&nbsp;Boeing&nbsp;stock&nbsp;rose 2.5% after it said 737 MAX test flight for China's aviation regulator last month was successful and the planemaker hopes a two-year grounding will be lifted this year.</p>\n<p><b>Dollar Tree(DLTR)</b> – Dollar Tree jumped 6.6% in the premarket after the discount retailer increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion.</p>\n<p><b>ASML(ASML) </b>– ASML raised its annual sales outlook and the maker of semiconductor manufacturing equipment said it would see 11% annual growth through 2030 as demand for its products booms. The stock added 1% in the premarket.</p>\n<p><b>AbbVie(ABBV) </b>– AbbVie won FDA approval for its once-daily oral migraine treatment. The drug known as Qulipta was one of the treatments acquired in AbbVie’s $63 billion purchase of Allergan last year.</p>\n<p><b>Sherwin-Williams(SHW) </b>– Sherwin-Williams cut its third-quarter guidance with the paint maker pointing to raw-material shortages and higher input costs. It said it no longer expects to see improved supply or lower prices for raw materials during the fourth quarter as it had previously projected. Sherwin-Williams fell 2% in premarket action.</p>\n<p><b>Affirm Holdings(AFRM)</b> – The financial services company said it will offer a debit card as well as allow customers to execute cryptocurrency transactions directly from savings accounts. Affirm shares jumped 3.1% in the premarket.</p>\n<p><b>Cal-Maine Foods(CALM) </b>– Cal-Maine rallied 4.4% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. The egg producer’s revenue topped Street forecasts as it benefited from higher egg prices.</p>\n<p><b>Warby Parker(WRBY)</b> – The eyewear maker debuts on Wall Street today, going public via a direct listing at a reference price of $40 per share. That gives the company an initial valuation of nearly $5 billion.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WRBY":"Warby Parker Inc.","AFRM":"Affirm Holdings, Inc.","BA":"波音","LCID":"Lucid Group Inc","DLTR":"美元树公司","ABBV":"艾伯维公司",".DJI":"道琼斯","NFLX":"奈飞","CALM":"Cal-Maine Foods","MU":"美光科技",".IXIC":"NASDAQ Composite","LLY":"礼来","ASML":"阿斯麦",".SPX":"S&P 500 Index","SHW":"宣伟公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144324950","content_text":"U.S. futures rebound on Wednesday as technology stocks led a rebound after concerns about inflation and rising Treasury yields drove one of Wall Street's worst selloff of this year.\nAt 8:00 a.m. ET, Dow e-minis were up 120 points, or 0.35%, S&P 500 e-minis were up 21.75 points, or 0.5%, and Nasdaq 100 e-minis were up 94.25 points, or 0.64%.\n\nShares of heavyweights Amazon.com Inc, Facebook Inc, Microsoft Corp, Apple and Google-parent Alphabet Inc rose between 0.3% and 1% in premarket trading.\nOil firms including Exxon Mobil and Chevron Corp dipped as a rally in crude prices petered out. The S&P energy sector has gained 3.9% so far this week and is on track for its best monthly performance since February.\nStocks making the biggest moves premarket:\nMicron Technology(MU) – Micron reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker’s revenue also topping Street forecasts. However, its current-quarter forecast fell below consensus, due to computer-making customers facing shortages of other parts, and the stock fell 3.6% in the premarket.\nEli Lilly(LLY) – The drugmaker’s stock gained 2.2% in premarket trading after Citi upgraded it to “buy” from “neutral.” Citi points to valuation following a more than 15% drop in the share price, as well as its above-Street consensus earnings outlook for Lilly following a recent meeting with management.\nNetflix(NFLX) – Netflix rose 1% in the premarket after announcing that it bought videogame maker Night School Studio in a move to diversify its revenue sources. Night School Studio is best known for the supernatural-themed video game “Oxenfree.”\nLucid Group(LCID) – Lucid plans to deliver its first electric luxury sedans in late October, after kicking off production at its Arizona factory on Tuesday. Lucid said its vehicles will have a greater driving range than comparable cars from rival Tesla(TSLA). The stock surged 6.5% in premarket trading.\nBoeing Co(BA) – Boeing stock rose 2.5% after it said 737 MAX test flight for China's aviation regulator last month was successful and the planemaker hopes a two-year grounding will be lifted this year.\nDollar Tree(DLTR) – Dollar Tree jumped 6.6% in the premarket after the discount retailer increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion.\nASML(ASML) – ASML raised its annual sales outlook and the maker of semiconductor manufacturing equipment said it would see 11% annual growth through 2030 as demand for its products booms. The stock added 1% in the premarket.\nAbbVie(ABBV) – AbbVie won FDA approval for its once-daily oral migraine treatment. The drug known as Qulipta was one of the treatments acquired in AbbVie’s $63 billion purchase of Allergan last year.\nSherwin-Williams(SHW) – Sherwin-Williams cut its third-quarter guidance with the paint maker pointing to raw-material shortages and higher input costs. It said it no longer expects to see improved supply or lower prices for raw materials during the fourth quarter as it had previously projected. Sherwin-Williams fell 2% in premarket action.\nAffirm Holdings(AFRM) – The financial services company said it will offer a debit card as well as allow customers to execute cryptocurrency transactions directly from savings accounts. Affirm shares jumped 3.1% in the premarket.\nCal-Maine Foods(CALM) – Cal-Maine rallied 4.4% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. The egg producer’s revenue topped Street forecasts as it benefited from higher egg prices.\nWarby Parker(WRBY) – The eyewear maker debuts on Wall Street today, going public via a direct listing at a reference price of $40 per share. That gives the company an initial valuation of nearly $5 billion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862743136,"gmtCreate":1632918840970,"gmtModify":1632924786391,"author":{"id":"4095574844567300","authorId":"4095574844567300","name":"Teerapol","avatar":"https://static.tigerbbs.com/2ffe268aff626e7d0b55a2f0fde51f4a","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862743136","repostId":"2170770176","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}