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2021-09-17

Okay

The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?

2021-09-10

?

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2021-09-09

Yy

Multiple indicators in the United States are sounding the alarm!

2021-09-03

?

With multiple risks looming, will US stocks experience significant volatility in September?

2021-08-27

?

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2021-08-25

?

After buying JD.com at rock-bottom prices, "Sister Wood" stated that she is not pessimistic about Chinese concept stocks.

2021-08-12

?

[Focus] Micron Technology falls over 7% after Morgan Stanley downgrades its rating.

2021-08-07

Bj

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2021-07-30

Kk

Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit

2021-07-30

Ij

Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit

2021-07-26

9

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2021-07-21

Hahaha

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2021-07-18

haha

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2021-07-15

Okok

Powell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives

2021-07-08

err

What happened when the "anchor of global asset pricing" plummeted?

2021-06-29

ok

The US stock market in the first half of the year was "still running, still dancing, still jumping," but everyone was preparing to run.

2021-06-21

Wow

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2021-06-17

ok

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2021-06-09

Oao

"Tax increases + high inflation" may make the third quarter a concentrated source of risk in the US stock market.

2021-06-07

？

When investing in A shares, which industry is the most profitable to hold for a long time?

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14:49","market":"us","language":"zh","title":"The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?","url":"https://stock-news.laohu8.com/highlight/detail?id=1169468802","media":"静观金融","summary":"摘要\n美国货币市场的融资流动性衡量的是企业或者金融机构在货币市场上获得短期批发融资的难易程度。一般而言，如果融资流动性出现问题，企业、机构为获取“现金”而趋同性地选择卖出某类金融资产时，该金融资产的市","content":"<p><b>Abstract</b></p><p><b>Financing liquidity in the U.S. money market measures the ease with which companies or financial institutions can obtain short-term wholesale financing in the money market.</b>Generally speaking, if there are problems with financing liquidity, and companies and institutions convergently choose to sell a certain type of financial asset in order to obtain \"cash\", the market liquidity of that financial asset will drop significantly, and the asset price will also fall rapidly. Therefore, it can be said that financing liquidity is the foundation of market liquidity.</p><p><b>The main player in the U.S. money market.</b>We can understand the US money market as follows: the borrowers are fiscal authorities (short-term Treasury Bond) and traders (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while the lenders are mainly banks and money market funds.</p><p><b>The U.S. Money Market: The Important Function and \"Passive\" Status of the Federal Reserve.</b>When the Federal Reserve acts as a lender of funds, it uses the reserve interest rate (IOR) and the overnight reverse repo facility (ON RRP) as policy tools. Both of these policy tools were initiated by the counterparty, which is equivalent to the counterparty actively depositing excess \"money\" with the Federal Reserve. When the Federal Reserve acts as a lender, it is actually fulfilling its \"lender of last resort\" obligations. As long as banks provide collateral as required, the Federal Reserve will lend funds to banks through the discount window at the discount window rate (DW). In July 2021, the Federal Reserve established the Standing Repo Facility (SRF), which allows the Fed to lend funds in the repurchase market at the lowest SRF rate, provided that collateral requirements are met.</p><p><b>Supply and demand of financing liquidity: Borrowers are fiscal authorities (short-term Treasury Bond) and dealers (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while lenders are mainly banks (general HQLA asset components + FHLBs) and money market funds.</b>For major lender bank HQLA portfolios and money market funds, they generally have three asset options: lending funds to the Treasury (to purchase US Treasury bonds), lending funds through the repurchase market, and lending funds to the Federal Reserve. However, the interest rates for lending funds in the latter two markets are different. In the repurchase market, the interest rate at which banks' HQLA portfolios lend funds is the general collateral repurchase rate (GC Repo). The interest rate at which money market funds lend funds in the repurchase market is the Tri-party Repo rate. The interest rates at which they lend funds to the Federal Reserve are IOR and ONRRP, respectively, which are the two policy rates at which the Federal Reserve controls the overnight interest rate market.</p><p><b>The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity? If money market funds use the Federal Reserve's overnight reverse repurchase tool, it indicates that they have no better asset options and the needs of the main borrowers have been met.</b>It should be noted that the absolute amount of reserves does not reflect the tightness or looseness of money market liquidity. A period of declining reserves can be a period of loose money market liquidity. The phase of rising reserves could also be a period of liquidity tightening in the money market. We need to observe the use of the Federal Reserve's reverse repurchase tools to determine money market liquidity.</p><p><b>text</b></p><p>Domestic investors are often confused about the liquidity transmission mechanism of the US dollar. We believe that only by taking a holistic approach can we achieve this.<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>Only through the internal connections between the banking system, the non-bank system, and fiscal authorities can a relatively complete picture of dollar liquidity be pieced together. In light of this, we will use three reports to outline the research framework for dollar liquidity. In the third article, we introduce how to judge and assess the environment for the liquidity of the US money market.</p><p><b>I. Our Definition of Liquidity in the US Money Market</b></p><p>The term \"liquidity\" is widely used in discussions of financial markets. To avoid ambiguity, we first need to define the liquidity mentioned in this report: it refers to the financing liquidity in the U.S. money market, which is used to measure the ease with which companies or financial institutions can obtain short-term financing in the money market.</p><p>In addition to financing liquidity, there is also \"market liquidity,\" which is used to measure the ease with which companies and financial institutions can sell financial assets in exchange for \"cash.\" Generally speaking, if there are problems with financing liquidity, and companies and institutions convergently choose to sell a certain type of financial asset in order to obtain \"cash\", the market liquidity of that financial asset will drop significantly, and the asset price will also fall rapidly. Therefore, it can be said that financing liquidity is the foundation of market liquidity.</p><p>Generally speaking, the better the financing liquidity, the better the market liquidity. The easier it is for financial intermediaries responsible for facilitating transactions to raise funds from the money market, the more flexible their balance sheets will be, making it easier for them to buy assets that others have sold or sell assets that others want. This phenomenon is even more pronounced in markets such as US Treasury bonds that rely on intermediaries for transactions.</p><p><b>II. US Money Market: The Important Functions and \"Passive\" Position of the Federal Reserve</b></p><p>To understand whether financing liquidity is loose or tight, the first thing to understand is the participants and hierarchical structure of the US money market: that is, who are the borrowers? Who is the lender? What market can I use to borrow money? To simplify matters, we focus our discussion on fiscal authorities, monetary authorities (the Federal Reserve), and major financial institutions. Within this framework, the money market can be understood as follows: the borrowers are fiscal authorities (short-term Treasury Bond) and traders (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while the lenders are mainly banks (federal housing loan banks will not be listed separately in this article because it does not affect the overall framework) and money market funds.</p><p>Due to the Basel III liquidity coverage ratio (LCR), banks are required to hold an equivalent amount of high-quality liquid assets (HQLA) based on their expected net cash outflows over the next 30 days. HQLA primarily includes reserves, Treasury Bond, and short-term repurchase agreements secured by Treasury Bond. Because some banks hold large amounts of short-term US Treasury bonds and overnight repos in their HQLAs, banks play an important role in the money market.</p><p>In the entire money market, the Federal Reserve holds an extremely special position. It simultaneously assumes the roles of both a fund borrower and a fund lender through different policy tools. When the Federal Reserve acts as a lender of funds, it uses the reserve interest rate (IOR) and the overnight reverse repo facility (ON RRP) as policy tools. Both of these policy tools were initiated by the counterparty, which is equivalent to the counterparty actively depositing excess \"money\" with the Federal Reserve. This forms the bottom of the interest rates for funds lent by banks (excluding FHLBs) and repurchase market lenders (mainly money market funds). Because their best counterparts (the Federal Reserve) are willing to borrow money from them through IOR and ON RRP, forcing other demanders to pay higher interest rates to obtain funds.</p><p>When the Federal Reserve acts as a lender, it is actually fulfilling its \"lender of last resort\" obligations. As long as banks provide collateral as required, the Federal Reserve will lend funds to banks through the discount window at the discount window rate (DW). In July 2021, the Federal Reserve established the Standing Repo Facility (SRF), which allows the Fed to lend funds in the repurchase market at the lowest SRF rate, provided that collateral requirements are met.</p><p><img src=\"https://static.tigerbbs.com/2b4f071b8fe2f51ee36be82475032753\" tg-width=\"994\" tg-height=\"604\" referrerpolicy=\"no-referrer\"><b>III. Supply and Demand of Financing Liquidity</b></p><p>Fiscal authorities, one of the sources of funds in the money market, primarily raise funds in the money market by issuing short-term Treasury Bond, which are easy to observe and track. In contrast, traders' financing needs in the money market mainly have two purposes: (1) market making; (2) Provide financing services to its customers. The demand for these two items is actually unstable. For example, market-making demand, when the issuance of US Treasury bonds is large or investors have limited interest in US Treasury bonds, will create additional financing needs for traders due to increased inventory. In this context, factors such as the Treasury Department's issuance plan, the yield spread between US Treasury bonds and other sovereign countries, and the US dollar exchange rate will all affect traders' financing needs. Furthermore, this part of the financing needs cannot be accurately tracked.</p><p><img src=\"https://static.tigerbbs.com/fbb1b8ebabe3a1c114d4dc036c652d20\" tg-width=\"972\" tg-height=\"527\" referrerpolicy=\"no-referrer\"></p><p>There is a relatively clear hierarchical relationship between lenders in the money market. For major lender bank HQLA portfolios and money market funds, they generally have three asset options: lending funds to the Treasury (to purchase US Treasury bonds), lending funds through the repurchase market, and lending funds to the Federal Reserve. However, the interest rates for lending funds in the latter two markets are different. In the repurchase market, the interest rate at which banks' HQLA portfolios lend funds is the general collateral repurchase rate (GC Repo). The interest rate at which money market funds lend funds in the repurchase market is the Tri-party Repo rate. The interest rates at which they lend funds to the Federal Reserve are IOR and ONRRP, respectively, which are the two policy rates at which the Federal Reserve controls the overnight interest rate market.</p><p>As the two most important lenders in the money market, banks have enormous HQLA portfolios and money market funds. By the end of 2020, JP Morgan's HQLA portfolio alone was around $600 billion, and the HQLA portfolio of the entire banking system was even larger. In addition, as of the end of Q1 2021, money market funds currently managed over $4 trillion.</p><p><img src=\"https://static.tigerbbs.com/4b90620a0b20d7307a0d9015ea2c79fb\" tg-width=\"1005\" tg-height=\"538\" referrerpolicy=\"no-referrer\"><b>IV. The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?</b></p><p>As mentioned earlier, for bank HQLA portfolios, at least IOR returns should be obtained when lending funds in the money market; For money market funds, when lending funds in the money market, they should at least obtain an ON RRP return. Of course, money market funds sometimes hold some short-term US Treasury bonds due to intraday liquidity considerations, and sometimes even though the yield ON short-term US Treasury bonds is lower than the ON RRP.</p><p>Therefore, if money market funds begin to heavily use the Federal Reserve's overnight reverse repurchase facility to generate on-RRP returns, it can be concluded that they have no better asset options: neither the Treasury nor traders need to borrow funds from them in the money market. In this context, we can assume that liquidity in the overnight money market is ample, and the needs of major financers have been met.</p><p>As shown in Figure 4, money market funds basically did not use the Federal Reserve's overnight reverse repurchase tool from 2018 to March 2020 (before the global financial market turmoil), indicating that they lent a large amount of funds to dealers and the Treasury Department (to purchase short-term US Treasury bonds) and had no remaining funds to repurchase and lend to the Federal Reserve. In stark contrast, after March 2021, money market funds began lending large amounts of funds to the Federal Reserve, leaving traders and the Treasury Department with no need for money market fund funds.</p><p>Back in 2018, the demand for funds from major financers in the US money market increased. For the Treasury Department, the issuance of US Treasury bonds has begun to accelerate. For dealers, the demand for their two main financing businesses has also increased at the same time: (1) the demand for market-making financing has increased significantly, as can be seen from the fact that the net position of US Treasury bonds by primary dealers has been increasing continuously from 2018 to 2019; (2) The demand for repurchase financing, measured by SOFR transaction volume, is also continuously rising.</p><p><img src=\"https://static.tigerbbs.com/c59a82ef6b10008a8e017429c7e6d04d\" tg-width=\"971\" tg-height=\"536\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/72c4fc914e4cb2cacae12b11ed535aae\" tg-width=\"1005\" tg-height=\"537\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/57d881951cceed4d8417a1caef6c66d4\" tg-width=\"1013\" tg-height=\"549\" referrerpolicy=\"no-referrer\"></p><p>If we look at the lenders of money market funds, the size of money market funds expanded in 2018-2019. However, against the backdrop of the Federal Reserve's shrinking balance sheet, the banking system has also shrunk, resulting in a reduction in the size of the entire HQLA portfolio of banks. As the supply and demand imbalance in the money market worsened, interest rates in the repurchase market surged in September 2019. The Federal Reserve balances the supply and demand of money market funds by opening up repurchase facilities and purchasing short-term Treasury Bond.</p><p>It should be noted that the absolute amount of reserves does not reflect the tightness or looseness of money market liquidity. The period of declining reserves may be a time of loose liquidity in the money market; The phase of rising reserves could also be a period of liquidity tightening in the money market. We need to observe the use of the Federal Reserve's reverse repurchase tools to determine money market liquidity.</p><p><img src=\"https://static.tigerbbs.com/2f1bcc3911dcec07087d56f674e3bba2\" tg-width=\"971\" tg-height=\"529\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/79bd2eb7c7b4785fbbc31a13c5a8bfa7\" tg-width=\"984\" tg-height=\"545\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Risk Warning</b></p><p>(a) Inadequate understanding of the Federal Reserve's monetary policy framework</p><p>(ii) The Federal Reserve's monetary policy changes exceeded expectations.</p>","source":"lsy1571618842096","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">静观金融</strong><span class=\"h-time small\">2021-09-17 14:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Abstract</b></p><p><b>Financing liquidity in the U.S. money market measures the ease with which companies or financial institutions can obtain short-term wholesale financing in the money market.</b>Generally speaking, if there are problems with financing liquidity, and companies and institutions convergently choose to sell a certain type of financial asset in order to obtain \"cash\", the market liquidity of that financial asset will drop significantly, and the asset price will also fall rapidly. Therefore, it can be said that financing liquidity is the foundation of market liquidity.</p><p><b>The main player in the U.S. money market.</b>We can understand the US money market as follows: the borrowers are fiscal authorities (short-term Treasury Bond) and traders (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while the lenders are mainly banks and money market funds.</p><p><b>The U.S. Money Market: The Important Function and \"Passive\" Status of the Federal Reserve.</b>When the Federal Reserve acts as a lender of funds, it uses the reserve interest rate (IOR) and the overnight reverse repo facility (ON RRP) as policy tools. Both of these policy tools were initiated by the counterparty, which is equivalent to the counterparty actively depositing excess \"money\" with the Federal Reserve. When the Federal Reserve acts as a lender, it is actually fulfilling its \"lender of last resort\" obligations. As long as banks provide collateral as required, the Federal Reserve will lend funds to banks through the discount window at the discount window rate (DW). In July 2021, the Federal Reserve established the Standing Repo Facility (SRF), which allows the Fed to lend funds in the repurchase market at the lowest SRF rate, provided that collateral requirements are met.</p><p><b>Supply and demand of financing liquidity: Borrowers are fiscal authorities (short-term Treasury Bond) and dealers (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while lenders are mainly banks (general HQLA asset components + FHLBs) and money market funds.</b>For major lender bank HQLA portfolios and money market funds, they generally have three asset options: lending funds to the Treasury (to purchase US Treasury bonds), lending funds through the repurchase market, and lending funds to the Federal Reserve. However, the interest rates for lending funds in the latter two markets are different. In the repurchase market, the interest rate at which banks' HQLA portfolios lend funds is the general collateral repurchase rate (GC Repo). The interest rate at which money market funds lend funds in the repurchase market is the Tri-party Repo rate. The interest rates at which they lend funds to the Federal Reserve are IOR and ONRRP, respectively, which are the two policy rates at which the Federal Reserve controls the overnight interest rate market.</p><p><b>The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity? If money market funds use the Federal Reserve's overnight reverse repurchase tool, it indicates that they have no better asset options and the needs of the main borrowers have been met.</b>It should be noted that the absolute amount of reserves does not reflect the tightness or looseness of money market liquidity. A period of declining reserves can be a period of loose money market liquidity. The phase of rising reserves could also be a period of liquidity tightening in the money market. We need to observe the use of the Federal Reserve's reverse repurchase tools to determine money market liquidity.</p><p><b>text</b></p><p>Domestic investors are often confused about the liquidity transmission mechanism of the US dollar. We believe that only by taking a holistic approach can we achieve this.<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>Only through the internal connections between the banking system, the non-bank system, and fiscal authorities can a relatively complete picture of dollar liquidity be pieced together. In light of this, we will use three reports to outline the research framework for dollar liquidity. In the third article, we introduce how to judge and assess the environment for the liquidity of the US money market.</p><p><b>I. Our Definition of Liquidity in the US Money Market</b></p><p>The term \"liquidity\" is widely used in discussions of financial markets. To avoid ambiguity, we first need to define the liquidity mentioned in this report: it refers to the financing liquidity in the U.S. money market, which is used to measure the ease with which companies or financial institutions can obtain short-term financing in the money market.</p><p>In addition to financing liquidity, there is also \"market liquidity,\" which is used to measure the ease with which companies and financial institutions can sell financial assets in exchange for \"cash.\" Generally speaking, if there are problems with financing liquidity, and companies and institutions convergently choose to sell a certain type of financial asset in order to obtain \"cash\", the market liquidity of that financial asset will drop significantly, and the asset price will also fall rapidly. Therefore, it can be said that financing liquidity is the foundation of market liquidity.</p><p>Generally speaking, the better the financing liquidity, the better the market liquidity. The easier it is for financial intermediaries responsible for facilitating transactions to raise funds from the money market, the more flexible their balance sheets will be, making it easier for them to buy assets that others have sold or sell assets that others want. This phenomenon is even more pronounced in markets such as US Treasury bonds that rely on intermediaries for transactions.</p><p><b>II. US Money Market: The Important Functions and \"Passive\" Position of the Federal Reserve</b></p><p>To understand whether financing liquidity is loose or tight, the first thing to understand is the participants and hierarchical structure of the US money market: that is, who are the borrowers? Who is the lender? What market can I use to borrow money? To simplify matters, we focus our discussion on fiscal authorities, monetary authorities (the Federal Reserve), and major financial institutions. Within this framework, the money market can be understood as follows: the borrowers are fiscal authorities (short-term Treasury Bond) and traders (whose financing needs mainly come from market making and providing financing to clients such as hedge funds), while the lenders are mainly banks (federal housing loan banks will not be listed separately in this article because it does not affect the overall framework) and money market funds.</p><p>Due to the Basel III liquidity coverage ratio (LCR), banks are required to hold an equivalent amount of high-quality liquid assets (HQLA) based on their expected net cash outflows over the next 30 days. HQLA primarily includes reserves, Treasury Bond, and short-term repurchase agreements secured by Treasury Bond. Because some banks hold large amounts of short-term US Treasury bonds and overnight repos in their HQLAs, banks play an important role in the money market.</p><p>In the entire money market, the Federal Reserve holds an extremely special position. It simultaneously assumes the roles of both a fund borrower and a fund lender through different policy tools. When the Federal Reserve acts as a lender of funds, it uses the reserve interest rate (IOR) and the overnight reverse repo facility (ON RRP) as policy tools. Both of these policy tools were initiated by the counterparty, which is equivalent to the counterparty actively depositing excess \"money\" with the Federal Reserve. This forms the bottom of the interest rates for funds lent by banks (excluding FHLBs) and repurchase market lenders (mainly money market funds). Because their best counterparts (the Federal Reserve) are willing to borrow money from them through IOR and ON RRP, forcing other demanders to pay higher interest rates to obtain funds.</p><p>When the Federal Reserve acts as a lender, it is actually fulfilling its \"lender of last resort\" obligations. As long as banks provide collateral as required, the Federal Reserve will lend funds to banks through the discount window at the discount window rate (DW). In July 2021, the Federal Reserve established the Standing Repo Facility (SRF), which allows the Fed to lend funds in the repurchase market at the lowest SRF rate, provided that collateral requirements are met.</p><p><img src=\"https://static.tigerbbs.com/2b4f071b8fe2f51ee36be82475032753\" tg-width=\"994\" tg-height=\"604\" referrerpolicy=\"no-referrer\"><b>III. Supply and Demand of Financing Liquidity</b></p><p>Fiscal authorities, one of the sources of funds in the money market, primarily raise funds in the money market by issuing short-term Treasury Bond, which are easy to observe and track. In contrast, traders' financing needs in the money market mainly have two purposes: (1) market making; (2) Provide financing services to its customers. The demand for these two items is actually unstable. For example, market-making demand, when the issuance of US Treasury bonds is large or investors have limited interest in US Treasury bonds, will create additional financing needs for traders due to increased inventory. In this context, factors such as the Treasury Department's issuance plan, the yield spread between US Treasury bonds and other sovereign countries, and the US dollar exchange rate will all affect traders' financing needs. Furthermore, this part of the financing needs cannot be accurately tracked.</p><p><img src=\"https://static.tigerbbs.com/fbb1b8ebabe3a1c114d4dc036c652d20\" tg-width=\"972\" tg-height=\"527\" referrerpolicy=\"no-referrer\"></p><p>There is a relatively clear hierarchical relationship between lenders in the money market. For major lender bank HQLA portfolios and money market funds, they generally have three asset options: lending funds to the Treasury (to purchase US Treasury bonds), lending funds through the repurchase market, and lending funds to the Federal Reserve. However, the interest rates for lending funds in the latter two markets are different. In the repurchase market, the interest rate at which banks' HQLA portfolios lend funds is the general collateral repurchase rate (GC Repo). The interest rate at which money market funds lend funds in the repurchase market is the Tri-party Repo rate. The interest rates at which they lend funds to the Federal Reserve are IOR and ONRRP, respectively, which are the two policy rates at which the Federal Reserve controls the overnight interest rate market.</p><p>As the two most important lenders in the money market, banks have enormous HQLA portfolios and money market funds. By the end of 2020, JP Morgan's HQLA portfolio alone was around $600 billion, and the HQLA portfolio of the entire banking system was even larger. In addition, as of the end of Q1 2021, money market funds currently managed over $4 trillion.</p><p><img src=\"https://static.tigerbbs.com/4b90620a0b20d7307a0d9015ea2c79fb\" tg-width=\"1005\" tg-height=\"538\" referrerpolicy=\"no-referrer\"><b>IV. The fundamental question of the US money market: How to observe the degree of tightness and looseness of liquidity?</b></p><p>As mentioned earlier, for bank HQLA portfolios, at least IOR returns should be obtained when lending funds in the money market; For money market funds, when lending funds in the money market, they should at least obtain an ON RRP return. Of course, money market funds sometimes hold some short-term US Treasury bonds due to intraday liquidity considerations, and sometimes even though the yield ON short-term US Treasury bonds is lower than the ON RRP.</p><p>Therefore, if money market funds begin to heavily use the Federal Reserve's overnight reverse repurchase facility to generate on-RRP returns, it can be concluded that they have no better asset options: neither the Treasury nor traders need to borrow funds from them in the money market. In this context, we can assume that liquidity in the overnight money market is ample, and the needs of major financers have been met.</p><p>As shown in Figure 4, money market funds basically did not use the Federal Reserve's overnight reverse repurchase tool from 2018 to March 2020 (before the global financial market turmoil), indicating that they lent a large amount of funds to dealers and the Treasury Department (to purchase short-term US Treasury bonds) and had no remaining funds to repurchase and lend to the Federal Reserve. In stark contrast, after March 2021, money market funds began lending large amounts of funds to the Federal Reserve, leaving traders and the Treasury Department with no need for money market fund funds.</p><p>Back in 2018, the demand for funds from major financers in the US money market increased. For the Treasury Department, the issuance of US Treasury bonds has begun to accelerate. For dealers, the demand for their two main financing businesses has also increased at the same time: (1) the demand for market-making financing has increased significantly, as can be seen from the fact that the net position of US Treasury bonds by primary dealers has been increasing continuously from 2018 to 2019; (2) The demand for repurchase financing, measured by SOFR transaction volume, is also continuously rising.</p><p><img src=\"https://static.tigerbbs.com/c59a82ef6b10008a8e017429c7e6d04d\" tg-width=\"971\" tg-height=\"536\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/72c4fc914e4cb2cacae12b11ed535aae\" tg-width=\"1005\" tg-height=\"537\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/57d881951cceed4d8417a1caef6c66d4\" tg-width=\"1013\" tg-height=\"549\" referrerpolicy=\"no-referrer\"></p><p>If we look at the lenders of money market funds, the size of money market funds expanded in 2018-2019. However, against the backdrop of the Federal Reserve's shrinking balance sheet, the banking system has also shrunk, resulting in a reduction in the size of the entire HQLA portfolio of banks. As the supply and demand imbalance in the money market worsened, interest rates in the repurchase market surged in September 2019. The Federal Reserve balances the supply and demand of money market funds by opening up repurchase facilities and purchasing short-term Treasury Bond.</p><p>It should be noted that the absolute amount of reserves does not reflect the tightness or looseness of money market liquidity. The period of declining reserves may be a time of loose liquidity in the money market; The phase of rising reserves could also be a period of liquidity tightening in the money market. We need to observe the use of the Federal Reserve's reverse repurchase tools to determine money market liquidity.</p><p><img src=\"https://static.tigerbbs.com/2f1bcc3911dcec07087d56f674e3bba2\" tg-width=\"971\" tg-height=\"529\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/79bd2eb7c7b4785fbbc31a13c5a8bfa7\" tg-width=\"984\" tg-height=\"545\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Risk Warning</b></p><p>(a) Inadequate understanding of the Federal Reserve's monetary policy framework</p><p>(ii) The Federal Reserve's monetary policy changes exceeded expectations.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/9wHdw-70Pmtlzs49vSSMDg\">静观金融</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c85c320adaeda5c6807698908bd45f3f","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/9wHdw-70Pmtlzs49vSSMDg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169468802","content_text":"摘要\n美国货币市场的融资流动性衡量的是企业或者金融机构在货币市场上获得短期批发融资的难易程度。一般而言，如果融资流动性出现问题，企业、机构为获取“现金”而趋同性地选择卖出某类金融资产时，该金融资产的市场流动性会大幅下降，资产价格也会迅速走低。因此，可以说融资流动性是市场流动性的基础。\n美国货币市场的主体。我们可以将美国货币市场理解成：资金融入方为财政当局（短期国债）、交易商（其融资需求主要来自于做市以及为对冲基金等客户提供融资），而资金融出方主要是银行及货币市场基金。\n美国货币市场：美联储的重要职能与“被动”地位。当美联储作为资金融入方时，它使用的政策工具是准备金利率（IOR）及隔夜逆回购工具（ON RRP）。这两个政策工具均由对手方主动发起，相当于对手方主动把多余的“钱”存放美联储。当美联储作为资金融出方时，实际上就是美联储在履行自己“最后贷款人”义务的时候。只要银行按要求提供抵押物，美联储会贴现窗口按照贴现窗口利率（DW）融出资金给银行。2021年7月美联储新设立了常备回购便利（SRF），即在满足抵押品要求的前提下，美联储会在回购市场按照最低SRF利率融出资金。\n融资流动性的供给与需求:融入方为财政当局（短期国债）、交易商（其融资需求主要来自于做市以及为对冲基金等客户提供融资），而融出方主要是银行（一般的HQLA资产部分+FHLBs）及货币市场基金。对于主要资金融出方银行HQLA组合及货币市场基金而言，它们一般有三种资产选择：融出资金给财政部（购买美债）、通过回购市场融出资金、融出资金给美联储，但是两者在后两个市场融出资金的利率并不相同。银行HQLA组合在回购市场中，融出资金的利率是一般抵押品回购利率（GC Repo）。货币市场基金在回购市场融出资金的利率是三方回购利率（Tri-party Repo）。而它们向美联储融出资金的利率则分别为IOR及ONRRP，为美联储控制隔夜利率市场的两个政策利率。\n美国货币市场灵魂拷问：如何观察流动性松紧程度？如果货币市场基金使用了美联储隔夜逆回购工具，说明其没有更好的资产选择了，主要的融资方的需求都得到了满足。需要指出的是准备金的绝对数量并不反应货币市场流动性的松紧，在准备金下降阶段，可以是货币市场流动性宽松的时期；而准备金上升阶段也有可能是货币市场流动性收紧的时期。我们需要观察美联储逆回购工具的使用量来判断货币市场流动性。\n正文\n国内投资者时常困惑于美元流动性传导机制，我们认为只有通盘考虑中央银行、银行体系、非银体系及财政当局的内在联系，才能拼凑出较为完整的美元流动性图景。有鉴于此，我们将用三篇报告梳理美元流动性研究框架。第三篇我们介绍如何判断与评估美国货币市场流动的环境。\n一、我们对于美国货币市场流动性的定义\n“流动性”一词在金融市场的讨论中被广泛使用。为了不引起歧义，我们首先需要定义在本篇报告中所提及的流动性：它是指美国货币市场的融资流动性，用于衡量企业或者金融机构在货币市场上获得短期融资的难易程度。\n除融资流动性外，还有“市场流动性”，用于衡量企业、金融机构等出售金融资产换取“现金”的难易程度。一般而言，如果融资流动性出现问题，企业、机构为获取“现金”而趋同性地选择卖出某类金融资产时，该金融资产的市场流动性会大幅下降，资产价格也会迅速走低。因此，可以说融资流动性是市场流动性的基础。\n一般情况下，融资流动性越好市场流动性越好。负责撮合交易的金融中介越是易于从货币市场融资，它的资产负债表就越有弹性，也就更加容易购买他人抛售的资产，或出售他人想要的资产，这种现象在美债等依靠交易中介进行交易的市场表现更为明显。\n二、美国货币市场：美联储的重要职能与“被动”地位\n要搞清楚融资流动性的松或紧，首先需要理解的是美国货币市场的参与对象以及层级结构：即谁是融入方？谁是融出方？通过什么市场来借钱？为了简化问题，我们把讨论的重心放在财政当局、货币当局（美联储）及主要金融机构上。在这样的框架下，货币市场可以理解成：资金融入方为财政当局（短期国债）、交易商（其融资需求主要来自于做市以及为对冲基金等客户提供融资），而资金融出方主要是银行（因不影响整体的框架，本篇不单独列出联邦住房贷款银行）及货币市场基金。\n由于巴塞尔III的流动性覆盖比率（LCR）的规定，银行需要根据其预期的未来30天现金净流出量来持有同等数量的高质量流动性资产（HQLA）。HQLA主要包括准备金、国债以及用国债为抵押品的短期回购。因为一些银行在其HQLA中持有大量的短期美债及隔夜回购，银行在货币市场中扮演着重要的角色。\n在整个货币市场中，美联储地位极其特殊。它通过不同的政策工具，同时承担了资金融入方及资金融出方的角色。当美联储作为资金融入方时，它使用的政策工具是准备金利率（IOR）及隔夜逆回购工具（ON RRP）。这两个政策工具均由对手方主动发起，相当于对手方主动把多余的“钱”存放美联储。这就形成了银行（FHLBs除外）及回购市场资金融出方（以货币市场基金为主）融出资金利率的底。因为它们最优质的对手方（美联储）愿意通过IOR及ON RRP向它们融入资金，迫使其他资金需求方出更高的利率才能融到资金。\n当美联储作为资金融出方时，实际上就是美联储在履行自己“最后贷款人”义务的时候。只要银行按要求提供抵押物，美联储会贴现窗口按照贴现窗口利率（DW）融出资金给银行。2021年7月，美联储新设立了常备回购便利（SRF），即在满足抵押品要求的前提下，美联储会在回购市场按照最低SRF利率融出资金。\n三、融资流动性的供给与需求\n货币市场资金融入方之一的财政当局主要是通过发行短期国债的方式在货币市场融资，易于观察跟踪。相较之下，交易商在货币市场的融资需求主要有两个目的：（1）做市；（2）为其客户提供融资服务。这两项的需求其实并不稳定，比如做市需求，当美债发行量较大或者投资者对美债兴趣有限时，都会造成交易商因库存增加导致的额外融资需求。在上面这个情况下，财政部的发行计划、美债相对其他主权国家的收益率差、美元的汇率等都会对交易商的融资需求产生影响。进而，这一部分的融资需求并不能准确跟踪。\n\n货币市场资金融出方存在比较明显的层级关系。对于主要资金融出方银行HQLA组合及货币市场基金而言，它们一般有三种资产选择：融出资金给财政部（购买美债）、通过回购市场融出资金、融出资金给美联储，但是两者在后两个市场融出资金的利率并不相同。银行HQLA组合在回购市场中，融出资金的利率是一般抵押品回购利率（GC Repo）。货币市场基金在回购市场融出资金的利率是三方回购利率（Tri-party Repo）。而它们向美联储融出资金的利率则分别为IOR及ONRRP，为美联储控制隔夜利率市场的两个政策利率。\n作为货币市场中最重要的两个资金融出方，银行的HQLA组合及货币市场基金的体量巨大。截止2020年末，单JP Morgan的HQLA组合规模就在6000亿美元左右，整个银行体系的HQLA组合规模更加庞大。此外，截止2021年Q1末货币市场基金目前管理的规模在4万亿美元以上。\n四、美国货币市场灵魂拷问：如何观察流动性松紧程度？\n前文提到，对于银行HQLA组合来说，在货币市场融出资金时，至少应该获取IOR收益；而对于货币市场基金来说，在货币市场融出资金时，至少应该获取ON RRP收益。当然对于货币市场基金来说，有时因考虑日内流动性，有时尽管短期美债收益率低于ON RRP，也会持有一些短期美债。\n那么，如果货币市场基金开始大量使用美联储隔夜逆回购工具获取ON RRP收益时，可以断定其没有更好的资产选择了：不论是财政部还是交易商们已不需要在货币市场向它们融入资金。在这种情况下，我们可以认为，整个隔夜货币市场的流动性是充裕的，主要的融资方的需求都已经得到了满足。\n如图4所示，货币市场基金在2018年至2020年3月（全球金融市场动荡前）基本都没有使用美联储的隔夜逆回购工具，说明其将资金大量融出给了交易商及财政部（购买短期美债），并没有剩余资金可以回购出借给美联储。与此对比强烈的是2021年3月之后，货币市场基金开始大量将资金大量出借给美联储，交易商及财政部对于货币市场基金的资金并没有需求。\n回到2018年，美国货币市场的主要融资方，对于资金的需求走高。对于财政部而言，美债发行开始加速。而对于交易商而言，它的两项主要融资业务需求也同时走高：（1）做市融资需求大增，可以看到一级交易商的美债净头寸在2018年-2019年不断增加；（2）以SOFR交易量衡量的回购融资需求也不断走高。\n\n如果看货币市场的资金融出方，2018-2019年货币市场基金规模在扩大。但在美联储缩表的背景下，银行体系也发生了收缩，造成银行整个HQLA组合的规模也在缩小。随着货币市场供需失衡的不断严重，2019年9月回购市场发生了利率飙升的情况。美联储通过开放回购工具及购买短期国债的方式平衡了货币市场资金的供需。\n需要指出的是准备金的绝对数量并不反映货币市场流动性的松紧。在准备金下降阶段，可能是货币市场流动性宽松的时期；而准备金上升阶段也有可能是货币市场流动性收紧的时期。我们需要观察美联储逆回购工具的使用量来判断货币市场流动性。\n\n风险提示\n（一）对美联储货币政策框架理解不到位\n（二）美联储货币政策变化超预期","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":5663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881052710,"gmtCreate":1631282691130,"gmtModify":1676530518890,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/881052710","repostId":"2166320467","repostType":4,"isVote":1,"tweetType":1,"viewCount":5880,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889878119,"gmtCreate":1631143487231,"gmtModify":1676530476868,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Yy","listText":"Yy","text":"Yy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/889878119","repostId":"2165994363","repostType":4,"repost":{"id":"2165994363","kind":"highlight","pubTimestamp":1631085017,"share":"https://ttm.financial/m/news/2165994363?lang=en_US&edition=fundamental","pubTime":"2021-09-08 15:10","market":"hk","language":"zh","title":"Multiple indicators in the United States are sounding the alarm!","url":"https://stock-news.laohu8.com/highlight/detail?id=2165994363","media":"华尔街见闻","summary":"美国人曾憧憬，这个夏天经济能回归常态，上班族回到办公室，孩子们重返校园，街角的咖啡店再次开业。但一切事与愿违，随着疫情复燃，复苏在8月踩下了急刹车。\n上周五，让人大跌眼镜的非农就业数据带来了最直接的报","content":"<p>Americans had hoped that this summer the economy would return to normal, with office workers returning to the office, children returning to school, and street corner coffee shops reopening. But things didn't go as planned. With the resurgence of the epidemic, the recovery came to a sudden halt in August.</p><p><b>Last Friday, the surprising non-farm payrolls data provided the most direct warning signal.</b>U.S. non-farm payrolls increased by only 235,000 in August, a significant miss the market expectation of 733,000, down from about 1 million in June and July, marking the smallest increase since January 2021.</p><p>In August, the University of Michigan consumer confidence index also fell to its lowest level in 10 years, as the spreading Delta variant of the virus and rising inflation worried Americans.</p><p>According to data released by Johns Hopkins University, as of 6 p.m. Eastern Time on September 7, 2021, the United States had reported 40,238,083 confirmed cases of COVID-19 and 650,345 deaths.</p><p><b>Over the past week, the United States has averaged more than 161,000 new cases per day, 1,560 new deaths, and an average of more than 102,000 hospitalizations per day, only slightly lower than the peak of last winter.</b></p><p><img src=\"https://static.tigerbbs.com/f7c5b880f937edae73659acd8fa2e181\" tg-width=\"731\" tg-height=\"455\" referrerpolicy=\"no-referrer\"></p><p>(Image source: Worldometers)</p><p><h2>\"Uncertainty and anxiety are back.\"</h2>Amid the resurgence of the pandemic, offices and schools in the United States have postponed their reopening, and travel and performance plans have been canceled.</p><p><b>Starting in August, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Companies of all sizes have abandoned plans to reopen their offices, with some even postponing the return date until 2022.</b></p><p>Official data shows that by mid-July, the number of tourists visiting Hawaii had recovered to near pre-pandemic levels, down only about 10% from the same period in 2019. However, the pace slowed down starting in August, and in the last seven days of August, the average number of daily tourist arrivals decreased by 34% compared to 2019.</p><p>Data from market research firm TOP shows that cinema attendance dropped by more than half at the end of August compared to the peak of the pandemic in mid-July. Paramount Pictures has delayed the release of Top Gun: Makeover and Mission: Impossible 7.</p><p>Meanwhile, many schools in the United States have closed or resumed online classes.</p><p>The Wall Street Journal quoted Columbia Business School economist Stephan Meier as saying that the reopening of schools should have been an important moment for the economy. With about a quarter of households having school-aged children, reliable childcare can get many Americans, especially women, back into the workforce. But for now, the Delta variant and the lack of a vaccine for children under 12 may make some parents reluctant to leave home to work.</p><p><b>Meier stated, \"The uncertainty and anxiety we experienced last year are back, and this uncertainty is enough to suppress labor supply.\"</b></p><p><h2>Institutions have lowered their US economic growth forecasts.</h2>Economists believe the Delta variant will not push the United States back into recession, but the loss of growth momentum could prolong the recovery of millions of jobs lost during the pandemic, keep many job markets on the sidelines, and discourage businesses from investing amid new uncertainties.</p><p>In the report released this Monday,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Goldman Sachs has lowered its U.S. GDP growth forecast for this year to 5.7% and raised its unemployment rate forecast from 4.1% to 4.2%. This marks the third time in less than three months that Goldman Sachs has lowered its U.S. GDP forecast for this year.</p><p>In explaining why they lowered their forecasts this week, Goldman Sachs economists cited several key factors.<b>It is expected that due to the spread of the Delta variant of the virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, resulting in a more severe consumption situation than previously anticipated.</b></p><p>\"There appear to be far more obstacles to strong consumption growth in the future: the Delta variant is already putting pressure on growth in the third quarter, fiscal stimulus is decreasing, and the recovery in the service sector is slowing down. These will all be negative factors in the medium term.\" Earlier this month,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley said at the time,<b>The downward expectation is mainly due to the fact that the momentum of economic growth has been released ahead of schedule, the government's stimulus spending has reduced its economic impact, and supply chain bottlenecks continue to drag down the economy, resulting in a decrease in consumer spending on large durable goods such as automobiles.</b></p><p><h2>US stocks have fallen for two consecutive days; a bigger test lies ahead.</h2>On Tuesday, the Dow Jones Industrial Average fell more than 200 points, hitting a new closing low since August 19 and its biggest closing drop since August 18. The S&P 500 closed down 0.34% at 4520.03 points, a new low since August 27.</p><p>This marks the second consecutive day of declines for the Dow Jones Industrial Average and the S&P 500, following the release of last Friday's far-below-expected non-farm payroll report. Even the three-day long weekend, including Monday, failed to mitigate the decline in most US stock sectors. Both US stock and Treasury prices fell during the session, Treasury Bond yields rose, and the benchmark 10-year Treasury yield hit its highest level since mid-July.</p><p>Analysts point out that amid the rampant Delta variant virus, the market is reassessing the prospects for U.S. economic growth and its impact on corporate profits.</p><p><b>As U.S. fiscal stimulus measures gradually withdraw, the U.S. economic recovery will face further tests.</b></p><p>This week, more than 7.5 million Americans will lose an additional $300 a week in unemployment benefits during the pandemic.<b>In addition to the cessation of pandemic subsidies, risk factors such as tax increases and debt increases have also brought additional challenges to the US economy.</b></p><p>Wall Street Insights previously mentioned that although the U.S. Congress seems likely to pass an infrastructure bill this fall, the economic impact of the recent stimulus package is relatively limited compared to the multiple rounds of stimulus plans launched since March 2020.</p><p>The U.S. Congress may vote to raise taxes on businesses and high-income individuals, which would offset the boost from spending—another short-term risk facing the market.</p><p>Meanwhile, US stocks may also be affected by the debt ceiling increase this fall. The U.S. Congress needs to raise government funds later this month by raising the debt ceiling, as well as a temporary spending bill to avoid a Washington shutdown in October.</p>","source":"wallstreetcn_api","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>Multiple indicators in the United States are sounding the alarm!</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMultiple indicators in the United States are sounding the alarm!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-09-08 15:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Americans had hoped that this summer the economy would return to normal, with office workers returning to the office, children returning to school, and street corner coffee shops reopening. But things didn't go as planned. With the resurgence of the epidemic, the recovery came to a sudden halt in August.</p><p><b>Last Friday, the surprising non-farm payrolls data provided the most direct warning signal.</b>U.S. non-farm payrolls increased by only 235,000 in August, a significant miss the market expectation of 733,000, down from about 1 million in June and July, marking the smallest increase since January 2021.</p><p>In August, the University of Michigan consumer confidence index also fell to its lowest level in 10 years, as the spreading Delta variant of the virus and rising inflation worried Americans.</p><p>According to data released by Johns Hopkins University, as of 6 p.m. Eastern Time on September 7, 2021, the United States had reported 40,238,083 confirmed cases of COVID-19 and 650,345 deaths.</p><p><b>Over the past week, the United States has averaged more than 161,000 new cases per day, 1,560 new deaths, and an average of more than 102,000 hospitalizations per day, only slightly lower than the peak of last winter.</b></p><p><img src=\"https://static.tigerbbs.com/f7c5b880f937edae73659acd8fa2e181\" tg-width=\"731\" tg-height=\"455\" referrerpolicy=\"no-referrer\"></p><p>(Image source: Worldometers)</p><p><h2>\"Uncertainty and anxiety are back.\"</h2>Amid the resurgence of the pandemic, offices and schools in the United States have postponed their reopening, and travel and performance plans have been canceled.</p><p><b>Starting in August, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Companies of all sizes have abandoned plans to reopen their offices, with some even postponing the return date until 2022.</b></p><p>Official data shows that by mid-July, the number of tourists visiting Hawaii had recovered to near pre-pandemic levels, down only about 10% from the same period in 2019. However, the pace slowed down starting in August, and in the last seven days of August, the average number of daily tourist arrivals decreased by 34% compared to 2019.</p><p>Data from market research firm TOP shows that cinema attendance dropped by more than half at the end of August compared to the peak of the pandemic in mid-July. Paramount Pictures has delayed the release of Top Gun: Makeover and Mission: Impossible 7.</p><p>Meanwhile, many schools in the United States have closed or resumed online classes.</p><p>The Wall Street Journal quoted Columbia Business School economist Stephan Meier as saying that the reopening of schools should have been an important moment for the economy. With about a quarter of households having school-aged children, reliable childcare can get many Americans, especially women, back into the workforce. But for now, the Delta variant and the lack of a vaccine for children under 12 may make some parents reluctant to leave home to work.</p><p><b>Meier stated, \"The uncertainty and anxiety we experienced last year are back, and this uncertainty is enough to suppress labor supply.\"</b></p><p><h2>Institutions have lowered their US economic growth forecasts.</h2>Economists believe the Delta variant will not push the United States back into recession, but the loss of growth momentum could prolong the recovery of millions of jobs lost during the pandemic, keep many job markets on the sidelines, and discourage businesses from investing amid new uncertainties.</p><p>In the report released this Monday,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Goldman Sachs has lowered its U.S. GDP growth forecast for this year to 5.7% and raised its unemployment rate forecast from 4.1% to 4.2%. This marks the third time in less than three months that Goldman Sachs has lowered its U.S. GDP forecast for this year.</p><p>In explaining why they lowered their forecasts this week, Goldman Sachs economists cited several key factors.<b>It is expected that due to the spread of the Delta variant of the virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, resulting in a more severe consumption situation than previously anticipated.</b></p><p>\"There appear to be far more obstacles to strong consumption growth in the future: the Delta variant is already putting pressure on growth in the third quarter, fiscal stimulus is decreasing, and the recovery in the service sector is slowing down. These will all be negative factors in the medium term.\" Earlier this month,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley said at the time,<b>The downward expectation is mainly due to the fact that the momentum of economic growth has been released ahead of schedule, the government's stimulus spending has reduced its economic impact, and supply chain bottlenecks continue to drag down the economy, resulting in a decrease in consumer spending on large durable goods such as automobiles.</b></p><p><h2>US stocks have fallen for two consecutive days; a bigger test lies ahead.</h2>On Tuesday, the Dow Jones Industrial Average fell more than 200 points, hitting a new closing low since August 19 and its biggest closing drop since August 18. The S&P 500 closed down 0.34% at 4520.03 points, a new low since August 27.</p><p>This marks the second consecutive day of declines for the Dow Jones Industrial Average and the S&P 500, following the release of last Friday's far-below-expected non-farm payroll report. Even the three-day long weekend, including Monday, failed to mitigate the decline in most US stock sectors. Both US stock and Treasury prices fell during the session, Treasury Bond yields rose, and the benchmark 10-year Treasury yield hit its highest level since mid-July.</p><p>Analysts point out that amid the rampant Delta variant virus, the market is reassessing the prospects for U.S. economic growth and its impact on corporate profits.</p><p><b>As U.S. fiscal stimulus measures gradually withdraw, the U.S. economic recovery will face further tests.</b></p><p>This week, more than 7.5 million Americans will lose an additional $300 a week in unemployment benefits during the pandemic.<b>In addition to the cessation of pandemic subsidies, risk factors such as tax increases and debt increases have also brought additional challenges to the US economy.</b></p><p>Wall Street Insights previously mentioned that although the U.S. Congress seems likely to pass an infrastructure bill this fall, the economic impact of the recent stimulus package is relatively limited compared to the multiple rounds of stimulus plans launched since March 2020.</p><p>The U.S. Congress may vote to raise taxes on businesses and high-income individuals, which would offset the boost from spending—another short-term risk facing the market.</p><p>Meanwhile, US stocks may also be affected by the debt ceiling increase this fall. The U.S. Congress needs to raise government funds later this month by raising the debt ceiling, as well as a temporary spending bill to avoid a Washington shutdown in October.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3639891\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/627bc890436e46f74a0fe8143398a725","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF华安","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GDX":"黄金矿业ETF-VanEck","IAU":"黄金信托ETF-iShares","GLD":"黄金ETF-SPDR","DUST":"二倍做空黄金矿业指数ETF-Direxion"},"source_url":"https://wallstreetcn.com/articles/3639891","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165994363","content_text":"美国人曾憧憬，这个夏天经济能回归常态，上班族回到办公室，孩子们重返校园，街角的咖啡店再次开业。但一切事与愿违，随着疫情复燃，复苏在8月踩下了急刹车。\n上周五，让人大跌眼镜的非农就业数据带来了最直接的报警信号。美国8月非农就业人口仅增加23.5万人，大幅不及市场预期的73.3万人，低于6月和7月的约100万个，创2021年1月以来最小增幅。\n8月，密歇根大学消费者信心指数也跌至10年来的最低水平，不断蔓延的Delta变种病毒和持续上升的通胀令美国人感到担忧。\n据美国约翰斯·霍普金斯大学发布的数据，截至美国东部时间2021年9月7日下午6点，全美共报告新冠肺炎确诊40238083例，死亡650345例。\n过去一周，美国平均每天新增病例超过 161000 例，新增死亡病例高达 1560 例，平均每天住院人数超过 102000 人，仅比去年冬天的峰值略低。\n\n(图片来源：Worldometers)\n“不确定性和焦虑感又回来了”\n疫情复燃之下，美国办公室和学校推迟开放，旅行和演出计划纷纷取消。\n从8月份开始，包括苹果、亚马逊在内的大小的公司都放弃了重新开放办公室的计划，一些公司甚至将返回日期推迟到2022年。\n官方数据显示，7月中旬，前往夏威夷的游客人数已经恢复至接近疫情前的水平，仅比2019年同期下降了约10%。但从8月开始，速度有所放缓，在8月的最后7天，日均游客抵达数量比2019年下降了34%。\n市场研究公司TOP的数据显示，与7月中旬的疫情高峰相比，8月底的影院客流量下降了一半以上。派拉蒙影业公司推迟了《壮志凌云:特立独行》和《碟中谍7》的上映。\n与此同时，美国许多学校已经关闭或恢复线上授课。\n华尔街日报援引哥伦比亚商学院经济学家Stephan Meier表示，学校重新开学本应是经济的一个重要时刻。大约四分之一的家庭有学龄儿童，可靠的儿童看护可以让许多美国人，尤其是女性重返工作岗位。但目前，Delta变种和缺乏针对12岁以下儿童的疫苗可能会让一些父母不愿离家工作。\nMeier称：“我们去年的不确定性和焦虑感又回来了，这种不确定性足以抑制劳动力供应。”\n机构纷纷下调美国经济增长预期\n经济学家认为，Delta变种病毒不会将美国推回衰退，但失去增长动力可能延长疫情期间失去的数百万就业岗位的复苏，令许多就业市场处于观望状态，并阻碍企业在新的不确定性下投资。\n本周一发布的报告中，高盛将今年的美国GDP预期增速降至5.7%，今年失业率预期从4.1%升至4.2%，这是不到三个月里，高盛第三次下调今年美国GDP预期。\n在本周解释为何下调预期时，高盛经济学家提到几大影响因素，预计由于变种病毒Delta肆虐、政府的财政支持在减弱，加之需求从商品转换到服务，美国消费者可能减少支出，消费形势比之前预期的更严峻：\n\n “未来消费强劲增长的阻碍看来多得多：Delta变异病毒已经在施压三季度增长，财政刺激在减少，服务业复苏放缓，这些都将是中期内的负面因素。”\n\n本月初，摩根士丹利也大幅下调了三季度美国GDP预期，从6.5%猛砍至仅2.9%，四季度GDP预期维持在6.7%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛本周调降后的全年预期增速还低。\n摩根士丹利当时称，调降预期主要由于经济增长的动力已提前释放，政府刺激性支出对经济的推动减少，加之供应链瓶颈持续拖累经济，汽车等大件耐用品的消费者支出由此减少。\n美股两连跌，更大的考验在后面\n周二，道指跌超200点，创8月19日以来收盘新低以及8月18日以来最大收盘跌幅。标普收跌0.34%，报4520.03点，创8月27日以来新低。\n这是上周五远逊预期的非农就业报告公布后，道指、标普连续两日收跌。即使是包括周一在内的三日长周末也没能缓和美股多数板块的跌势，美股和美债价格盘中齐跌，国债收益率上行，基准10年期美债收益率刷新7月中旬以来高位。\n分析指出，Delta变种病毒肆虐之下，市场正在重新评估美国经济增长前景，以及其对企业盈利的影响。\n随着美国财政刺激措施逐渐退场，美国经济复苏将面临进一步的考验。\n本周，超过750万的美国人将失去疫情时期每周300美元的额外失业救济。除了停止疫情补贴外，增税、债务上调等风险因素也给美国经济带来了额外的考验。\n华尔街见闻此前提及，尽管美国国会似乎有可能在今年秋季通过一项基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期的刺激计划经济影响相对有限。\n美国国会可能会投票决定提高对企业和高收入个人的税收，这将抵消支出带来的提振——这是市场面临的另一个短期风险。\n与此同时，美股今秋还可能受到债务上限上调的影响。美国国会需要在本月晚些时候通过提高债务上限以筹集政府资金，以及一项临时开支法案，以避免华盛顿在10月份关闭。","news_type":1,"symbols_score_info":{"159934":0.9,"518880":0.9,"SGCmain":0.9,"IAU":0.9,"MGCmain":0.9,"SGUmain":0.9,"GLD":0.9,"GDX":0.9,"DUST":0.9,"NUGT":0.9}},"isVote":1,"tweetType":1,"viewCount":6370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815296966,"gmtCreate":1630679166755,"gmtModify":1676530374930,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/815296966","repostId":"1124577665","repostType":4,"repost":{"id":"1124577665","kind":"news","pubTimestamp":1630636929,"share":"https://ttm.financial/m/news/1124577665?lang=en_US&edition=fundamental","pubTime":"2021-09-03 10:42","market":"us","language":"zh","title":"With multiple risks looming, will US stocks experience significant volatility in September?","url":"https://stock-news.laohu8.com/highlight/detail?id=1124577665","media":"腾讯美股","summary":"伴随9月到来，美股市场正面对着越来越多的潜在风险。","content":"<p><i>Since the end of World War II, the S&P 500 has only had a 45% chance of rising in September. In addition to the historical background, there are a series of major events that hide considerable risks, such as the August jobs report to be released this Friday. The specific performance of the latter is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plans to begin tapering bond purchases this year.</i><img src=\"https://static.tigerbbs.com/8beafe1f53440c121923a321284d7b5d\" tg-width=\"1080\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p>After seven consecutive months of gains, the US stock market is facing increasing potential risks with the arrival of September. Unfortunately, this month happens to be \"infamous\" in stock market history—the worst-performing month in history.</p><p>CFRA data shows that since the end of World War II, the S&P 500 has only had a 45% chance of rising in September, and in all of those Septembers, the index has fallen by an average of 0.56%, ranking last among all months—in fact, except for September and February, the average return of the index has been positive in all other months.</p><p>Currently, the overall view among Wall Street strategists is that while it is not yet certain that a pullback or consolidation is imminent, risks are undoubtedly accumulating. Specifically, factors such as changes in Federal Reserve policy, the accelerated spread of the Delta variant virus, and political risks could negatively impact the US stock market.</p><p><a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Chief investment strategist Liz Ann Sonders said that while it would be too mechanical to assume that the performance in September 2021 will follow historical trends, the risks are indeed difficult to ignore. \"Are there significant risks that, at some point in the future, one of them could cause the market to decline by 3% or 4%? The answer is definitely yes. Whether that timeframe could be September is definitely yes.\"</p><p>A detailed analysis of historical data reveals that in September of the first year of a president's term, the performance of US stocks would have been even worse than the average. On average, the S&P 500 fell by 0.73% in September over the years. CFRA also found that historical records show that if the S&P 500 hits new highs in both July and August—as it did this year—there is only a 43% chance that the index will rise in the following September, with an average decline of 0.74%.</p><p>The S&P 500 rose nearly 3% in mid-August this year, and is up 20.4% year-to-date as of the end of August.</p><p><b>Risks are brewing</b></p><p>Specifically, in September this year, in addition to the historical background, there are a series of major events that hide considerable risks. For example, the August employment report to be released this Friday, the specific performance of which is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plan to start reducing bond-buying operations this year.</p><p>Dow Jones data shows that economists currently generally expect new jobs to reach 750,000 in August. Market observers explained that if the final results significantly exceed expectations, the Federal Reserve may intensify and accelerate the tapering of its original $120 billion monthly bond-buying program, and they will most likely announce a decision to taper the program, which began within the year, at the September meeting. Conversely, if employment data only meets or falls short of expectations, the Fed's timing of tapering could be delayed by several months.</p><p>Sanders believes that relatively weak employment data may not necessarily be bad news for the US stock market, as this data means that the Federal Reserve may delay the start of tapering and proceed with more caution rather than drastic measures. Although Federal Reserve Chairman Jerome Powell emphasized last week that tapering the bond-buying program and rate hike are two completely unrelated things, most market observers still tend to see the former as a precursor to the latter.</p><p>Sanders explained that the Fed's future decisions will be determined by the various economic data that are constantly being released. This means that the development of the pandemic and the corresponding impact on the economy will continue to be an important factor influencing their decisions. \"The final conclusion is indeed regrettable: the market's performance ultimately depends on the outcome of the pandemic.\"</p><p><b>Can normalcy return?</b></p><p>From another perspective, September is also seen by many observers as a delicate juncture that influences American sentiment, namely, as students return to school, people will feel somewhat that life is returning to normal. At the same time, with parents of school-aged children able to return to the workforce and additional unemployment benefits officially expiring, September is also an important juncture in which the labor shortage situation is expected to improve.</p><p>However, due to the spread of the Delta variant, the US economy is facing the threat of entirely new variables, such as the fact that many businesses have postponed their reopening. At the same time, with the rise of the pandemic, many retail and catering businesses have also been hit by a further decline in customer traffic.</p><p>Julian Emanuel, head of equity and derivatives strategy at BITG, bluntly stated: \"Consumer confidence has been significantly shaken. This is not closely related to the specific circumstances of the pandemic; the key is that we had originally expected that life would basically return to normal by September.\"</p><p>Sanders of Charles Schwab said that under normal circumstances, the Federal Reserve should be the primary determinant of the US stock market in September, but at the same time, the pandemic has the potential to forcibly \"steal the show\" and become the main player.</p><p>“I think this back-to-school season is not just about psychological factors,” Sanders said. “People will be closely watching whether keeping schools open in places with relatively low vaccination rates will further worsen the situation. Clearly, this is a pandemic risk that is closely related to time.”</p><p>Emanuel stated that the market will continue to closely monitor the Federal Reserve to determine how it continues to advance its bond-buying tapering program.</p><p>\"All of this was one of the most pressing issues at the September meeting. The reason the market wanted the Fed to announce a reduction in its operating schedule in advance was because if they didn't announce it, it would likely mean that they already understood the damage the pandemic had done to the economy and labor market (beyond expectations).\"</p><p>Another economic data point in September that could impact the market is inflation data. The consumer price index report will be released on September 14. Emanuel explained that if inflation remains high, it could push up Treasury Bond yields, which is undoubtedly bad news for the stock market.</p><p>Emanuel stated that the market will also be watching when the U.S. will reach its debt ceiling and whether the multi-trillion dollar infrastructure bill will be passed, with Congress expected to begin reviewing the latter in September.</p><p>Finally, the US withdrawal from Afghanistan also brings additional risks. Emanuel stated, \"Various events are occurring one after another, which are likely to have longer-term political consequences. If there are signs of greater unrest on the ground, the impact will intensify.\"</p><p><b>The worst month</b></p><p>Emanuel himself expects a significant sell-off in the US stock market in September, pointing out that historical records show that September and October are often volatile.</p><p>\"Of course, this doesn't mean the stock market will inevitably fall, but from our perspective, the sentiment that the market won't fall as long as the Fed doesn't rate hike is too widespread, and market participants are too complacent.\"</p><p>He believes investors should take serious measures to protect themselves against potential declines and suggests that everyone consider using options tools. “We’re not saying you should be afraid. We’re saying you must proceed with caution. Your portfolio has already made considerable gains and it’s best to preserve it.”</p><p>Sanders also said that large-scale consolidations are commonplace in the market, but some investors feel that the market is more resilient today than ever before because mainstream indices are constantly setting records. She said that what she is most worried about is various speculative bubbles. \"Rotational consolidation and bear markets have actually emerged in areas such as MEME stocks, special purpose acquisition companies (SPACs), and cryptocurrencies.\"</p><p>Sanders said that among the major sectors of the S&P 500 index, she currently only gives healthcare a top performance rating to one sector. Currently, she primarily looks for investment opportunities based on factors, rather than sectors. For example, she is currently researching the quality of different stocks, looking for positive news such as free cash flow or rising earnings expectations.</p>","source":"txmg","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>With multiple risks looming, will US stocks experience significant volatility in September?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith multiple risks looming, will US stocks experience significant volatility in September?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯美股</strong><span class=\"h-time small\">2021-09-03 10:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Since the end of World War II, the S&P 500 has only had a 45% chance of rising in September. In addition to the historical background, there are a series of major events that hide considerable risks, such as the August jobs report to be released this Friday. The specific performance of the latter is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plans to begin tapering bond purchases this year.</i><img src=\"https://static.tigerbbs.com/8beafe1f53440c121923a321284d7b5d\" tg-width=\"1080\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p>After seven consecutive months of gains, the US stock market is facing increasing potential risks with the arrival of September. Unfortunately, this month happens to be \"infamous\" in stock market history—the worst-performing month in history.</p><p>CFRA data shows that since the end of World War II, the S&P 500 has only had a 45% chance of rising in September, and in all of those Septembers, the index has fallen by an average of 0.56%, ranking last among all months—in fact, except for September and February, the average return of the index has been positive in all other months.</p><p>Currently, the overall view among Wall Street strategists is that while it is not yet certain that a pullback or consolidation is imminent, risks are undoubtedly accumulating. Specifically, factors such as changes in Federal Reserve policy, the accelerated spread of the Delta variant virus, and political risks could negatively impact the US stock market.</p><p><a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Chief investment strategist Liz Ann Sonders said that while it would be too mechanical to assume that the performance in September 2021 will follow historical trends, the risks are indeed difficult to ignore. \"Are there significant risks that, at some point in the future, one of them could cause the market to decline by 3% or 4%? The answer is definitely yes. Whether that timeframe could be September is definitely yes.\"</p><p>A detailed analysis of historical data reveals that in September of the first year of a president's term, the performance of US stocks would have been even worse than the average. On average, the S&P 500 fell by 0.73% in September over the years. CFRA also found that historical records show that if the S&P 500 hits new highs in both July and August—as it did this year—there is only a 43% chance that the index will rise in the following September, with an average decline of 0.74%.</p><p>The S&P 500 rose nearly 3% in mid-August this year, and is up 20.4% year-to-date as of the end of August.</p><p><b>Risks are brewing</b></p><p>Specifically, in September this year, in addition to the historical background, there are a series of major events that hide considerable risks. For example, the August employment report to be released this Friday, the specific performance of which is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plan to start reducing bond-buying operations this year.</p><p>Dow Jones data shows that economists currently generally expect new jobs to reach 750,000 in August. Market observers explained that if the final results significantly exceed expectations, the Federal Reserve may intensify and accelerate the tapering of its original $120 billion monthly bond-buying program, and they will most likely announce a decision to taper the program, which began within the year, at the September meeting. Conversely, if employment data only meets or falls short of expectations, the Fed's timing of tapering could be delayed by several months.</p><p>Sanders believes that relatively weak employment data may not necessarily be bad news for the US stock market, as this data means that the Federal Reserve may delay the start of tapering and proceed with more caution rather than drastic measures. Although Federal Reserve Chairman Jerome Powell emphasized last week that tapering the bond-buying program and rate hike are two completely unrelated things, most market observers still tend to see the former as a precursor to the latter.</p><p>Sanders explained that the Fed's future decisions will be determined by the various economic data that are constantly being released. This means that the development of the pandemic and the corresponding impact on the economy will continue to be an important factor influencing their decisions. \"The final conclusion is indeed regrettable: the market's performance ultimately depends on the outcome of the pandemic.\"</p><p><b>Can normalcy return?</b></p><p>From another perspective, September is also seen by many observers as a delicate juncture that influences American sentiment, namely, as students return to school, people will feel somewhat that life is returning to normal. At the same time, with parents of school-aged children able to return to the workforce and additional unemployment benefits officially expiring, September is also an important juncture in which the labor shortage situation is expected to improve.</p><p>However, due to the spread of the Delta variant, the US economy is facing the threat of entirely new variables, such as the fact that many businesses have postponed their reopening. At the same time, with the rise of the pandemic, many retail and catering businesses have also been hit by a further decline in customer traffic.</p><p>Julian Emanuel, head of equity and derivatives strategy at BITG, bluntly stated: \"Consumer confidence has been significantly shaken. This is not closely related to the specific circumstances of the pandemic; the key is that we had originally expected that life would basically return to normal by September.\"</p><p>Sanders of Charles Schwab said that under normal circumstances, the Federal Reserve should be the primary determinant of the US stock market in September, but at the same time, the pandemic has the potential to forcibly \"steal the show\" and become the main player.</p><p>“I think this back-to-school season is not just about psychological factors,” Sanders said. “People will be closely watching whether keeping schools open in places with relatively low vaccination rates will further worsen the situation. Clearly, this is a pandemic risk that is closely related to time.”</p><p>Emanuel stated that the market will continue to closely monitor the Federal Reserve to determine how it continues to advance its bond-buying tapering program.</p><p>\"All of this was one of the most pressing issues at the September meeting. The reason the market wanted the Fed to announce a reduction in its operating schedule in advance was because if they didn't announce it, it would likely mean that they already understood the damage the pandemic had done to the economy and labor market (beyond expectations).\"</p><p>Another economic data point in September that could impact the market is inflation data. The consumer price index report will be released on September 14. Emanuel explained that if inflation remains high, it could push up Treasury Bond yields, which is undoubtedly bad news for the stock market.</p><p>Emanuel stated that the market will also be watching when the U.S. will reach its debt ceiling and whether the multi-trillion dollar infrastructure bill will be passed, with Congress expected to begin reviewing the latter in September.</p><p>Finally, the US withdrawal from Afghanistan also brings additional risks. Emanuel stated, \"Various events are occurring one after another, which are likely to have longer-term political consequences. If there are signs of greater unrest on the ground, the impact will intensify.\"</p><p><b>The worst month</b></p><p>Emanuel himself expects a significant sell-off in the US stock market in September, pointing out that historical records show that September and October are often volatile.</p><p>\"Of course, this doesn't mean the stock market will inevitably fall, but from our perspective, the sentiment that the market won't fall as long as the Fed doesn't rate hike is too widespread, and market participants are too complacent.\"</p><p>He believes investors should take serious measures to protect themselves against potential declines and suggests that everyone consider using options tools. “We’re not saying you should be afraid. We’re saying you must proceed with caution. Your portfolio has already made considerable gains and it’s best to preserve it.”</p><p>Sanders also said that large-scale consolidations are commonplace in the market, but some investors feel that the market is more resilient today than ever before because mainstream indices are constantly setting records. She said that what she is most worried about is various speculative bubbles. \"Rotational consolidation and bear markets have actually emerged in areas such as MEME stocks, special purpose acquisition companies (SPACs), and cryptocurrencies.\"</p><p>Sanders said that among the major sectors of the S&P 500 index, she currently only gives healthcare a top performance rating to one sector. Currently, she primarily looks for investment opportunities based on factors, rather than sectors. For example, she is currently researching the quality of different stocks, looking for positive news such as free cash flow or rising earnings expectations.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/lN2TWV92hFLiXRdDdT09dw\">腾讯美股</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/598c94c6b6db0e39a9e952fd336db660","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/lN2TWV92hFLiXRdDdT09dw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124577665","content_text":"自第二次世界大战结束以来，标普500指数在9月间上涨的概率只有45%。除了历史背景之外，还有一系列重大事件，背后都隐藏着可观的风险，比如本周五将发布的8月就业报告，后者的具体表现很可能将直接影响到联储9月22日的政策会议，影响到他们在今年年内开始缩减购债操作的计划制定工作。\n\n\n在连续七个月上涨之后，伴随9月到来，美股市场正面对着越来越多的潜在风险，而不巧的是，这个月份在股市历史上恰好是“臭名昭著”——史上表现最差月份。\nCFRA的数据显示，自第二次世界大战结束以来，标普500指数在9月间上涨的概率只有45%，在所有这些9月当中,指数平均下跌0.56%，在所有月份当中排名倒数第一——事实上，除了9月和2月，其他月份当中，指数的平均回报率都是正数。\n目前，华尔街策略师们的整体看法是，虽然还不能确定一场回挫或者盘整已经迫在眉睫，但是风险毋庸置疑地正在不断累积。具体来说，诸如联储政策变化，德尔塔变种病毒的加速传播，以及政治风险等，都可能会使美股市场受到负面冲击。\n嘉信理财首席投资策略师桑德斯（Liz Ann Sonders）表示，虽然现在就假定2021年9月的表现会追随历史趋势未免过于机械，但是风险确实难以忽视。“是否存在着大量的风险，到了未来某一时刻，其中之一就可能造成市场3%或者4%的回挫？答案当然是肯定的。那个时间节点是否可能是9月，答案当然还是肯定的。”\n对历史数据进行细化分析就会发现，如果是总统任期第一年的9月，美股的表现甚至还要比平均水准更加糟糕。平均而言，在这些年头的9月当中，标普500指数的跌幅达到了0.73%。CFRA还发现，历史记录显示，如果标普500指数在7月和8月当中都创下了新高——就像今年一样——则指数在接下来的9月当中只有43%概率上涨，平均表现是下跌0.74%。\n今年8月当中，标普500指数上涨了近3%，截至8月底，年度迄今为止涨幅为20.4%。\n风险在酝\n具体到今年的9月，除了历史背景之外，还有一系列重大事件，背后都隐藏着可观的风险，比如本周五将发布的8月就业报告，后者的具体表现很可能将直接影响到联储9月22日的政策会议，影响到他们在今年年内开始缩减购债操作的计划制定工作。\n道琼斯的数据显示，经济学家们目前的普遍预期是，8月间新增就业人数将达到75万。市场观察家们解释说，如果最终发布的结果大幅度超出这个预期，联储原本每月1200亿美元的购债计划的缩减工作就可能会加大力度，加快速度，他们大概率会在9月会议上宣布缩减在年内开始的决定。相反，如果就业数据只是符合预期，甚至不及预期，联储的缩减启动时间点就可能往后拖若干个月。\n桑德斯的判断是，相对疲软的就业数据其实未必就是美股市场的坏消息，因为这数据就意味着联储可能会推迟缩减开始的时间，并且以更小心谨慎，而非大刀阔斧的方式进行缩减操作。虽然联储主席鲍威尔上周强调，缩减购债计划与加息是完全不相干的两件事，但是大多数市场观察家还是倾向于将前者视为后者的先声。\n桑德斯解释说，联储未来的决策都要看不断出炉的各种经济数据来确定。这也就意味着，疫情的发展，以及经济受到的相应影响，将持续成为影响他们决策的重要因素。“最后结论确实让人遗憾，市场的表现归根结底还是要看疫情的脸色。”\n常态能否归来\n从另外一个角度，9月也被许多观察家们视作一个影响美国人情绪的微妙时间节点，即，伴随学生返校，大家会多少产生一些生活正在回归常态的感觉。与此同时，伴随学龄儿童的家长得以重新回归劳动力大军，以及失业救济额外补贴正式宣告到期，9月还是一个劳动力短缺局面预计将得到改善的重要节点。\n只不过，由于德尔塔变种病毒的传播，美国经济正面临着全新变数的威胁，比如不少企业都已经推迟了重新开门的时间。与此同时，伴随疫情的抬头，众多零售和餐饮企业也都遭遇了消费客流再度回落的打击。\nBITG股票和衍生产品策略部门负责人伊曼纽尔（Julian Emanuel）直言不讳：“消费者信心已经发生了重大动摇。这与疫情的具体情况倒是关系没有密切，关键在于，我们原本都曾经预计，到了9月，生活就将基本回归常态了。”\n嘉信理财的桑德斯表示，对于美股市场而言，正常情况下，9月行情的头号决定者应该是联储，但是与此同时，疫情也完全有强行“抢戏”，成为主角的可能性。\n“我认为，这一次的返校季节可不是单纯的心理因素那么简单。”桑德斯表示，“人们将密切关注的是，在那些疫苗接种率相对较低的地方，学校保持开放状态，是否会造成局面的进一步恶化。显然，这是一项与时间密切相关的疫情风险。”\n伊曼纽尔表示，市场还将继续密切关注联储，以确定他们到底是如何持续推进其购债缩减计划的。\n“这一切正是9月会议上，人们最关注的问题之一，市场之所以希望联储提前宣布缩减操作日程表，是因为如果他们没有宣布，就很可能是意味着他们已经了解了疫情对经济和劳动力市场的损害（超过了预期）。”\n9月另外一种可能给市场造成冲击的经济数据则是通货膨胀数据。消费者价格指数报告将在9月14日发布。伊曼纽尔解释说，如果通货膨胀继续高企，就可能推高国债收益率，而这对于股市无疑是个坏消息。\n伊曼纽尔表示，市场同时还会关注美国触及债务上限的时间点，以及规模达到若干万亿美元的基础设施法案是否能够通过，预计国会9月就将展开对后者的审议。\n最后，美国从阿富汗的撤军也带来了额外的风险。伊曼纽尔表示：“各种事件接二连三地发生，很可能会造成较为长期的政治后果，如果有迹象显示当地将发生更大的动荡，则其影响还将变本加厉。”\n最糟的月份\n伊曼纽尔自己的预期是，9月间，美股市场上将发生一波非常可观的抛售行情，他指出，历史记录显示，9月和10月经常都是充满波动的。\n“当然这不是说股市必然要下跌，但是从我们的角度看去，认定只要联储不加息，市场就不会下跌的情绪弥漫太过广泛，市场参与者太过志得意满了。”\n他认为投资者应该认真采取措施，针对可能的下跌保护好自己，并建议大家考虑使用期权工具。“我们并不是说，你理应满怀恐惧。我们要说的是，你必须谨慎从事。你的投资组合已经取得了可观的利得，最好能够保住。”\n桑德斯也说，其实大规模的盘整对于市场而言本来就是家常便饭，只是一些投资者因为主流指数现在都在不断创下纪录，而觉得今日市场的弹力超过以往而已。她说，自己最担心的就是各种投机泡沫。“在MEME股票、特殊目的收购公司（SPAC）和虚拟货币等领域，轮动性盘整和熊市其实已经出现。”\n桑德斯说，在标普500指数各大板块当中，她目前只给予了医疗卫生一个板块以超越表现评级。目前，她寻找投资机会主要是基于因素，而不是基于板块了。比如，她现在正在研究各只不同个股的品质，寻找自由现金流或者盈利预期调升等利好消息。","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":6191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819527123,"gmtCreate":1630079070662,"gmtModify":1676530220201,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/819527123","repostId":"1131853650","repostType":4,"isVote":1,"tweetType":1,"viewCount":6004,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837322111,"gmtCreate":1629858545033,"gmtModify":1676530154125,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/837322111","repostId":"2162387390","repostType":4,"repost":{"id":"2162387390","kind":"highlight","pubTimestamp":1629858360,"share":"https://ttm.financial/m/news/2162387390?lang=en_US&edition=fundamental","pubTime":"2021-08-25 10:26","market":"us","language":"zh","title":"After buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=2162387390","media":"华尔街见闻","summary":"几乎已经清仓中概股的ARK基金，本周开始出手抄底买入京东股票，该基金创始人“木头姐”最新表态称：对中国并不悲观。\nArk Investment创始人、有科技股女股神之称的Cathie Wood周二在接","content":"<p>ARK Fund, which has almost completely liquidated its holdings in Chinese concept stocks, began buying on dips this week.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Regarding stocks, the fund's founder, \"Sister Wood,\" recently stated that he is not pessimistic about China.</p><p>Cathie Wood, founder of Ark Investment and known as the tech stock guru, said in an interview with Bloomberg on Tuesday:</p><p><b>“In the long run, I am not pessimistic about China because I think they are a very entrepreneurial society.”</b>Wood stated that the Chinese government is developing more regulations, but its goal is not to hinder growth and progress.</p><p>The latest data shows that ARK's automated &<a href=\"https://laohu8.com/S/300024\">Robot</a>The Technology ETF (ARKQ) bought more than 160,000 shares of JD.com ADRs on Monday.<b>This reversed the continuous sell-off trend since the end of July.</b></p><p><img src=\"https://static.tigerbbs.com/ba01ecec77377314f0598c9caadf2456\" tg-width=\"1118\" tg-height=\"480\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As of Tuesday, ARKQ held $86.17 million worth of JD.com stock, representing 3.22% of its holdings in the ETF, making it its ninth largest holding.</p><p><img src=\"https://static.tigerbbs.com/f3dccaf72955102a69b8a5080d87c3db\" tg-width=\"1107\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Since the beginning of the year, JD.com's stock has fallen by nearly 13%. JD.com's stock price rebounded strongly after releasing strong earnings reports on Monday, surging 14% overnight.<b>ARKQ also bought the dip after JD.com released its impressive financial report.</b></p><p><img src=\"https://static.tigerbbs.com/d796d9299aa03662c774ddd14756d6c0\" tg-width=\"688\" tg-height=\"388\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As previously mentioned by Wall Street Insights, financial reports showed that JD.com's revenue in the second quarter was 253.8 billion yuan, exceeding market expectations of 244.026 billion yuan, representing a year-on-year increase of 26.23%. Adjusted earnings per ADS for the second quarter were RMB 2.90, exceeding market expectations of RMB 2.12;</p><p>In terms of active users, as of June 30, 2021, JD.com's active purchasing users reached 532 million in the past 12 months, exceeding the market expectation of 520.9 million, a net increase of 115 million compared with the same period last year, and a single-quarter increase of 32 million, setting a new record.</p><p>It has been a tumultuous year for Wood and Ark. In 2020, riding the wave of a bull market in US tech stocks, ARKK's flagship fund achieved an astonishing return of 149%.</p><p><b>However, since the beginning of 2021, with the correction of technology stocks, ARKK's performance has been sluggish, with a cumulative decline of 2.9% since the beginning of the year. It was once subject to large-scale redemptions by investors and was eagerly shorted by hedge funds.</b></p><p><img src=\"https://static.tigerbbs.com/10a0e581ee3758d2aa1dfdc00b1114d3\" tg-width=\"720\" tg-height=\"412\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAfter buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-25 10:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>ARK Fund, which has almost completely liquidated its holdings in Chinese concept stocks, began buying on dips this week.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Regarding stocks, the fund's founder, \"Sister Wood,\" recently stated that he is not pessimistic about China.</p><p>Cathie Wood, founder of Ark Investment and known as the tech stock guru, said in an interview with Bloomberg on Tuesday:</p><p><b>“In the long run, I am not pessimistic about China because I think they are a very entrepreneurial society.”</b>Wood stated that the Chinese government is developing more regulations, but its goal is not to hinder growth and progress.</p><p>The latest data shows that ARK's automated &<a href=\"https://laohu8.com/S/300024\">Robot</a>The Technology ETF (ARKQ) bought more than 160,000 shares of JD.com ADRs on Monday.<b>This reversed the continuous sell-off trend since the end of July.</b></p><p><img src=\"https://static.tigerbbs.com/ba01ecec77377314f0598c9caadf2456\" tg-width=\"1118\" tg-height=\"480\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As of Tuesday, ARKQ held $86.17 million worth of JD.com stock, representing 3.22% of its holdings in the ETF, making it its ninth largest holding.</p><p><img src=\"https://static.tigerbbs.com/f3dccaf72955102a69b8a5080d87c3db\" tg-width=\"1107\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Since the beginning of the year, JD.com's stock has fallen by nearly 13%. JD.com's stock price rebounded strongly after releasing strong earnings reports on Monday, surging 14% overnight.<b>ARKQ also bought the dip after JD.com released its impressive financial report.</b></p><p><img src=\"https://static.tigerbbs.com/d796d9299aa03662c774ddd14756d6c0\" tg-width=\"688\" tg-height=\"388\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As previously mentioned by Wall Street Insights, financial reports showed that JD.com's revenue in the second quarter was 253.8 billion yuan, exceeding market expectations of 244.026 billion yuan, representing a year-on-year increase of 26.23%. Adjusted earnings per ADS for the second quarter were RMB 2.90, exceeding market expectations of RMB 2.12;</p><p>In terms of active users, as of June 30, 2021, JD.com's active purchasing users reached 532 million in the past 12 months, exceeding the market expectation of 520.9 million, a net increase of 115 million compared with the same period last year, and a single-quarter increase of 32 million, setting a new record.</p><p>It has been a tumultuous year for Wood and Ark. In 2020, riding the wave of a bull market in US tech stocks, ARKK's flagship fund achieved an astonishing return of 149%.</p><p><b>However, since the beginning of 2021, with the correction of technology stocks, ARKK's performance has been sluggish, with a cumulative decline of 2.9% since the beginning of the year. It was once subject to large-scale redemptions by investors and was eagerly shorted by hedge funds.</b></p><p><img src=\"https://static.tigerbbs.com/10a0e581ee3758d2aa1dfdc00b1114d3\" tg-width=\"720\" tg-height=\"412\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3638794\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c318bcd91a109139b7d70c76c30bb154","relate_stocks":{"09618":"京东集团-SW","ARKF":"ARK Fintech Innovation ETF","JD":"京东"},"source_url":"https://wallstreetcn.com/articles/3638794","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162387390","content_text":"几乎已经清仓中概股的ARK基金，本周开始出手抄底买入京东股票，该基金创始人“木头姐”最新表态称：对中国并不悲观。\nArk Investment创始人、有科技股女股神之称的Cathie Wood周二在接受彭博采访中表示：\n\n“从长远来看，我对中国并不悲观，因为我认为他们是一个非常具有创业精神的社会。”\n\nWood称，中国政府正在制定更多的规章制度，但政府的目的并不想阻止增长和进步。\n最新披露的数据显示，ARK旗下的自动&机器人技术ETF (ARKQ)于周一买入了超过16万股的京东ADR，扭转了7月底以来连续抛售的态势。\n\n截至周二，ARKQ持有8617万美元的京东股票，在该ETF中的持仓占比为3.22%，为其第九大持仓。\n\n年初至今，京东股票累计下跌了近13%。在周一公布了强劲财报后，京东股价强势反弹，隔夜大涨14%。ARKQ也是在京东公布亮眼财报后进行了抄底。\n\n华尔街见闻此前提及，财报数据显示，京东第二季度营收2538亿元，超市场预期2440.26亿元，同比增长26.23%；第二季度调整后每ADS收益2.90元，超市场预期的2.12元；\n在活跃用户方面， 截至2021年6月30日，京东过去12个月的活跃购买用户数达到5.32亿，超市场预估的5.209亿，较去年同期净增了1.15亿，单季新增3200万创下历史最高增量。\n对Wood和Ark来说，过去是跌宕起伏的一年。2020年在美国科技股大牛市的东风下，方舟旗舰基金ARKK取得了149%的惊人回报。\n但进入2021年来，随着科技股回调，ARKK表现萎靡，今年以来累计下跌2.9%，一度遭遇投资者大举赎回，并被对冲基金争相做空。","news_type":1,"symbols_score_info":{"09618":0.9,"JD":0.9,"ARKF":0.9}},"isVote":1,"tweetType":1,"viewCount":5350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894905766,"gmtCreate":1628780530855,"gmtModify":1676529854018,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894905766","repostId":"2158225015","repostType":4,"repost":{"id":"2158225015","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628778784,"share":"https://ttm.financial/m/news/2158225015?lang=en_US&edition=fundamental","pubTime":"2021-08-12 22:33","market":"us","language":"zh","title":"[Focus] Micron Technology falls over 7% after Morgan Stanley downgrades its rating.","url":"https://stock-news.laohu8.com/highlight/detail?id=2158225015","media":"老虎资讯综合","summary":"8月12日，美光科技盘中跌超7%，此前摩根士丹利将美光科技评级降至“持有”。\n此前该公司首席执行官Mehrotra指出，公司预计DRAM和NAND内存芯片的供应在2022年将保持紧张，预计2021年的","content":"<p>On August 12,<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It fell more than 7% intraday, previously<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>We downgraded our rating on Micron Technology to \"Hold\".</p><p>Previously, the company's CEO Mehrotra pointed out that the company expects the supply of DRAM and NAND memory chips to remain tight in 2022, and the DRAM industry is expected to grow by slightly more than 20% in 2021, with supply falling short of demand.</p><p><img src=\"https://static.tigerbbs.com/53e1a79f6522b9553c419a1d3e365bb0\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>[Focus] Micron Technology falls over 7% after Morgan Stanley downgrades its rating.</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n[Focus] Micron Technology falls over 7% after Morgan Stanley downgrades its rating.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-12 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 12,<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It fell more than 7% intraday, previously<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>We downgraded our rating on Micron Technology to \"Hold\".</p><p>Previously, the company's CEO Mehrotra pointed out that the company expects the supply of DRAM and NAND memory chips to remain tight in 2022, and the DRAM industry is expected to grow by slightly more than 20% in 2021, with supply falling short of demand.</p><p><img src=\"https://static.tigerbbs.com/53e1a79f6522b9553c419a1d3e365bb0\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/58c571cf0b4357240a7b67c1db539b4a","relate_stocks":{"MU":"美光科技"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158225015","content_text":"8月12日，美光科技盘中跌超7%，此前摩根士丹利将美光科技评级降至“持有”。\n此前该公司首席执行官Mehrotra指出，公司预计DRAM和NAND内存芯片的供应在2022年将保持紧张，预计2021年的DRAM行业增长略高于20%，供应低于需求。","news_type":1,"symbols_score_info":{"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":3811,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893463326,"gmtCreate":1628295962365,"gmtModify":1703504612411,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Bj","listText":"Bj","text":"Bj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/893463326","repostId":"1136593672","repostType":4,"isVote":1,"tweetType":1,"viewCount":5930,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808540259,"gmtCreate":1627603468271,"gmtModify":1703493081827,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Kk","listText":"Kk","text":"Kk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/808540259","repostId":"1109337387","repostType":4,"repost":{"id":"1109337387","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627602763,"share":"https://ttm.financial/m/news/1109337387?lang=en_US&edition=fundamental","pubTime":"2021-07-30 07:52","market":"sh","language":"zh","title":"Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1109337387","media":"老虎资讯综合","summary":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周","content":"<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</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>Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-30 07:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109337387","content_text":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周四收涨 道指标普创盘中新高\n美股周四收高，道指与标普500指数均创盘中历史新高。美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。市场专注于基本乐观的企业财报。截止收盘，道指涨0.44%，报35084.53点；纳指涨0.11%，报14778.26点；标普500指数涨0.42%，报4419.15点。\n2、热门中概股周四收盘多数走低：教育股回落 贝壳跌超13%\n热门中概股周四收盘多数走低，教育股回落，贝壳跌超13%，左晖家族信托将投票权委托给贝壳管理层。教育股中，第一高中教育跌近12%，红黄蓝跌超10%，51Talk跌超9%，好未来、高途跌超8%，新东方跌超6%，网易有道跌超2%。\n3、欧元区经济景气指数飙升至历史新高 欧洲股市全线收高\n因投资者消化了新一轮主要企业财报，且美联储重申鸽派政策立场，欧股周四(7月29日)延续了此前交易日的涨势。泛欧斯托克600指数收盘上涨2.14点，涨幅0.46%，报463.84点。其中基本资源股和汽车股领涨，分别上涨2.4%和2%。\n4、WTI与布伦特原油期货延续涨势 均创两周来最高收盘价\n原油期货价格周四收高，美国WTI与ICE布伦特原油期货均创两周来的最高收盘价。此前一天美国政府数据显示美国国内原油、汽油与馏分油库存悉数下降。纽约商品交易所9月份交割的西德州中质原油(WTI)期货价格上涨1.23美元，涨幅1.7%，收于每桶73.62美元。\n5、黄金期货周三上涨1.7% 创6周新高\n黄金期货价格周四收高。尽管美联储周三表示央行可能在未来几个月缩减购债计划，且世界黄金协会报告指出黄金需求下降，但弱于预期的美国经济报告仍推动金价走高。纽约商品交易所12月交割的黄金期货价格上涨31.20美元，涨幅1.7%，收于每盎司1835.50美元。\n国际宏观\n1、尽管消费者支出激增 美国第二季度GDP增长仍低于预期\n受供应链瓶颈的约束，美国第二季度经济增长逊于预期，并使消费者支出数十年来的最大增幅之一也黯然失色。美国商务部周四公布的初步估计数据显示，第二季度国内生产总值折合年率增长6.5%，第一季度数据修正后为6.3%。联邦政府支出、住宅投资和库存拖累了第二季度的数据。\n2、美国楼市可能见顶的又一信号：美国成屋签约销售意外下跌\n美国6月成屋签约待过户销售环比5月下降1.9%，差于预期。分析认为，高房价以及可售房产有限，正阻碍潜在买家进入市场。本周稍早，6月新屋销售数据让市场大跌眼镜。这些都表明，美国楼市有放缓迹象。\n3、新冠疫情衰退期间美国经济萎缩近20% 创历史纪录\n美国政府周四数据显示，该国经济在2019年四季度峰值到2020年二季度期间创纪录地萎缩了19.2%，证实了新冠疫情导致的衰退是有史以来最严重的一次。从疫情低迷中复苏的速度同样令人震惊。美国商务部经济分析局表示，2020年二季度至四季度，美国经济以18.3%的历史平均速度反弹。\n4、美国医生的绝望：任你喊破喉咙 疫苗怀疑者无动于衷\n专家称，疫情正在进入一个黑暗的新阶段。美国将近一半国民拒绝疫苗、不戴口罩、将防疫限制视为对自由的侵犯。随着感染病例再度增加，科学家和医生正在面临一个令人抓狂现实：这个国家有控制疫情的办法，但相当部分人口拒绝接受。\n5、拜登呼吁国会延长暂停驱逐租客令 因变种病毒传播\n美国总统拜登周四呼吁国会延长定于7月31日到期的暂停房东驱逐租客的禁令，因delta变种病毒继续在美国各地蔓延。白宫在一份声明中说：“总统呼吁国会立即延长暂停驱逐令，以保护这些脆弱的租户及其家人。”\n6、欧洲央行公布会议纪要 允许欧元区经济过热\n当地时间29日，欧洲央行公布了本月7日至8日的货币政策会议纪要，其中最重要的内容是将中期通胀目标从“接近但低于2%”修改为“2%”。这意味着可能会有“通胀略高于目标的过渡期”。但是在本次公布的会议纪要中，并没有提及机构内部的讨论内容，只是总结了7月8日公布的决议。\n公司新闻\n1、“贝佐斯时代“黯然谢幕？亚马逊二季度收入、营业利润和下季指引均不佳\n财报显示，亚马逊二季度加总产品和服务的净销售额为1130.8亿美元，同比增27.2%，逊于市场预期的1151亿美元或同比增29%，公司此前给出的官方指引是1100亿至1160亿美元区间。\n2、芯片短缺助长半导体业务，三星营收创二季度最高，三年内要收购\n当地时间7月29日周四，韩国最大企业三星电子公布了截止6月的2021年第二季度财报。由于存储芯片涨价和美国得州奥斯汀工厂迅速复工，营收创史上第二季度新高，净利润也增超70%。\n3、苹果发行65亿美元债券 为回购增加现金储备\n苹果公司周四从美国投资级债券市场融资，分成四部分发行65亿美元债券，因这家科技巨头越来越希望将现金返还给股东。据一位知情人士透露，此次发行期限最长的债券是40年期，收益率将比美国国债高0.92个百分点。最初讨论的价格为1.15个百分点区间。\n4、拖累整体业绩 阿斯利康开始评估疫苗业务可持续性\n据媒体报道，阿斯利康正在考虑其新冠疫苗业务的未来，预计到2021年底，对该业务的规划将更加明确。在新冠疫苗的竞赛中，阿斯利康遭遇了一系列挫折，因此该公司开始评估其新冠疫苗业务，不过阿斯利康高管强调，现在就决定该业务的未来还为时过早。\n5、软银抛售三分之一Uber股份 部分用于冲抵投资滴滴的亏空\n7月29日消息，据外媒报道，两名知情人士称，软银将把其所持的叫车服务公司Uber的股份抛售大约三分之一，以部分用于弥补其投资中国叫车服务公司滴滴而出现的亏损。该公司计划出售4500万股Uber股份，禁售期为30天。报告发布后，Uber股价在盘后交易中下跌了5%。\n6、Pinterest二季度用户流失，盘后股价暴跌超18%\n报告显示，Pinterest 第二季度营收为 6.13 亿美元，与去年同期的 2.72 亿美元相比增长 125%；净利润为 6940 万美元，相比之下去年同期的净亏损为 1 亿美元；不按照美国通用会计准则的调整后净利润为 1.7 亿美元，相比之下去年同期的调整后净亏损为 3840 万美元。\n7、吉利德科学Q2扭亏为盈，总营收同比增长21%\n财报显示，吉利德科学Q2总营收为62.17亿美元，同比增长21%；净利润为15.22亿美元，去年同期亏损33.39亿美元；摊薄后每股收益为1.21美元，去年同期每股亏损2.66美元","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808552464,"gmtCreate":1627603353258,"gmtModify":1703493076739,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Ij&nbsp;","listText":"Ij&nbsp;","text":"Ij","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/808552464","repostId":"1109337387","repostType":4,"repost":{"id":"1109337387","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627602763,"share":"https://ttm.financial/m/news/1109337387?lang=en_US&edition=fundamental","pubTime":"2021-07-30 07:52","market":"sh","language":"zh","title":"Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1109337387","media":"老虎资讯综合","summary":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周","content":"<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</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>Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-30 07:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109337387","content_text":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周四收涨 道指标普创盘中新高\n美股周四收高，道指与标普500指数均创盘中历史新高。美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。市场专注于基本乐观的企业财报。截止收盘，道指涨0.44%，报35084.53点；纳指涨0.11%，报14778.26点；标普500指数涨0.42%，报4419.15点。\n2、热门中概股周四收盘多数走低：教育股回落 贝壳跌超13%\n热门中概股周四收盘多数走低，教育股回落，贝壳跌超13%，左晖家族信托将投票权委托给贝壳管理层。教育股中，第一高中教育跌近12%，红黄蓝跌超10%，51Talk跌超9%，好未来、高途跌超8%，新东方跌超6%，网易有道跌超2%。\n3、欧元区经济景气指数飙升至历史新高 欧洲股市全线收高\n因投资者消化了新一轮主要企业财报，且美联储重申鸽派政策立场，欧股周四(7月29日)延续了此前交易日的涨势。泛欧斯托克600指数收盘上涨2.14点，涨幅0.46%，报463.84点。其中基本资源股和汽车股领涨，分别上涨2.4%和2%。\n4、WTI与布伦特原油期货延续涨势 均创两周来最高收盘价\n原油期货价格周四收高，美国WTI与ICE布伦特原油期货均创两周来的最高收盘价。此前一天美国政府数据显示美国国内原油、汽油与馏分油库存悉数下降。纽约商品交易所9月份交割的西德州中质原油(WTI)期货价格上涨1.23美元，涨幅1.7%，收于每桶73.62美元。\n5、黄金期货周三上涨1.7% 创6周新高\n黄金期货价格周四收高。尽管美联储周三表示央行可能在未来几个月缩减购债计划，且世界黄金协会报告指出黄金需求下降，但弱于预期的美国经济报告仍推动金价走高。纽约商品交易所12月交割的黄金期货价格上涨31.20美元，涨幅1.7%，收于每盎司1835.50美元。\n国际宏观\n1、尽管消费者支出激增 美国第二季度GDP增长仍低于预期\n受供应链瓶颈的约束，美国第二季度经济增长逊于预期，并使消费者支出数十年来的最大增幅之一也黯然失色。美国商务部周四公布的初步估计数据显示，第二季度国内生产总值折合年率增长6.5%，第一季度数据修正后为6.3%。联邦政府支出、住宅投资和库存拖累了第二季度的数据。\n2、美国楼市可能见顶的又一信号：美国成屋签约销售意外下跌\n美国6月成屋签约待过户销售环比5月下降1.9%，差于预期。分析认为，高房价以及可售房产有限，正阻碍潜在买家进入市场。本周稍早，6月新屋销售数据让市场大跌眼镜。这些都表明，美国楼市有放缓迹象。\n3、新冠疫情衰退期间美国经济萎缩近20% 创历史纪录\n美国政府周四数据显示，该国经济在2019年四季度峰值到2020年二季度期间创纪录地萎缩了19.2%，证实了新冠疫情导致的衰退是有史以来最严重的一次。从疫情低迷中复苏的速度同样令人震惊。美国商务部经济分析局表示，2020年二季度至四季度，美国经济以18.3%的历史平均速度反弹。\n4、美国医生的绝望：任你喊破喉咙 疫苗怀疑者无动于衷\n专家称，疫情正在进入一个黑暗的新阶段。美国将近一半国民拒绝疫苗、不戴口罩、将防疫限制视为对自由的侵犯。随着感染病例再度增加，科学家和医生正在面临一个令人抓狂现实：这个国家有控制疫情的办法，但相当部分人口拒绝接受。\n5、拜登呼吁国会延长暂停驱逐租客令 因变种病毒传播\n美国总统拜登周四呼吁国会延长定于7月31日到期的暂停房东驱逐租客的禁令，因delta变种病毒继续在美国各地蔓延。白宫在一份声明中说：“总统呼吁国会立即延长暂停驱逐令，以保护这些脆弱的租户及其家人。”\n6、欧洲央行公布会议纪要 允许欧元区经济过热\n当地时间29日，欧洲央行公布了本月7日至8日的货币政策会议纪要，其中最重要的内容是将中期通胀目标从“接近但低于2%”修改为“2%”。这意味着可能会有“通胀略高于目标的过渡期”。但是在本次公布的会议纪要中，并没有提及机构内部的讨论内容，只是总结了7月8日公布的决议。\n公司新闻\n1、“贝佐斯时代“黯然谢幕？亚马逊二季度收入、营业利润和下季指引均不佳\n财报显示，亚马逊二季度加总产品和服务的净销售额为1130.8亿美元，同比增27.2%，逊于市场预期的1151亿美元或同比增29%，公司此前给出的官方指引是1100亿至1160亿美元区间。\n2、芯片短缺助长半导体业务，三星营收创二季度最高，三年内要收购\n当地时间7月29日周四，韩国最大企业三星电子公布了截止6月的2021年第二季度财报。由于存储芯片涨价和美国得州奥斯汀工厂迅速复工，营收创史上第二季度新高，净利润也增超70%。\n3、苹果发行65亿美元债券 为回购增加现金储备\n苹果公司周四从美国投资级债券市场融资，分成四部分发行65亿美元债券，因这家科技巨头越来越希望将现金返还给股东。据一位知情人士透露，此次发行期限最长的债券是40年期，收益率将比美国国债高0.92个百分点。最初讨论的价格为1.15个百分点区间。\n4、拖累整体业绩 阿斯利康开始评估疫苗业务可持续性\n据媒体报道，阿斯利康正在考虑其新冠疫苗业务的未来，预计到2021年底，对该业务的规划将更加明确。在新冠疫苗的竞赛中，阿斯利康遭遇了一系列挫折，因此该公司开始评估其新冠疫苗业务，不过阿斯利康高管强调，现在就决定该业务的未来还为时过早。\n5、软银抛售三分之一Uber股份 部分用于冲抵投资滴滴的亏空\n7月29日消息，据外媒报道，两名知情人士称，软银将把其所持的叫车服务公司Uber的股份抛售大约三分之一，以部分用于弥补其投资中国叫车服务公司滴滴而出现的亏损。该公司计划出售4500万股Uber股份，禁售期为30天。报告发布后，Uber股价在盘后交易中下跌了5%。\n6、Pinterest二季度用户流失，盘后股价暴跌超18%\n报告显示，Pinterest 第二季度营收为 6.13 亿美元，与去年同期的 2.72 亿美元相比增长 125%；净利润为 6940 万美元，相比之下去年同期的净亏损为 1 亿美元；不按照美国通用会计准则的调整后净利润为 1.7 亿美元，相比之下去年同期的调整后净亏损为 3840 万美元。\n7、吉利德科学Q2扭亏为盈，总营收同比增长21%\n财报显示，吉利德科学Q2总营收为62.17亿美元，同比增长21%；净利润为15.22亿美元，去年同期亏损33.39亿美元；摊薄后每股收益为1.21美元，去年同期每股亏损2.66美元","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":5372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800456137,"gmtCreate":1627313904429,"gmtModify":1703487513021,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"9","listText":"9","text":"9","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/800456137","repostId":"1181109009","repostType":4,"isVote":1,"tweetType":1,"viewCount":2012,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176342874,"gmtCreate":1626866855798,"gmtModify":1703479532976,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Hahaha&nbsp;","listText":"Hahaha&nbsp;","text":"Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176342874","repostId":"1107424947","repostType":4,"isVote":1,"tweetType":1,"viewCount":1300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173980676,"gmtCreate":1626599094395,"gmtModify":1703762216189,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"&nbsp;haha","listText":"&nbsp;haha","text":"haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/173980676","repostId":"1172207687","repostType":4,"isVote":1,"tweetType":1,"viewCount":1630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144573333,"gmtCreate":1626307981622,"gmtModify":1703757472971,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Okok&nbsp;","listText":"Okok&nbsp;","text":"Okok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/144573333","repostId":"1170720172","repostType":4,"repost":{"id":"1170720172","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626302587,"share":"https://ttm.financial/m/news/1170720172?lang=en_US&edition=fundamental","pubTime":"2021-07-15 06:43","market":"us","language":"zh","title":"Powell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives","url":"https://stock-news.laohu8.com/highlight/detail?id=1170720172","media":"老虎资讯综合","summary":"美联储主席鲍威尔周三在众议院听证会上作半年度货币政策报告时表示，美国经济复苏还没有达到可以开始收缩资产购买规模的程度，补充称未来几个月通胀率可能会保持较高水平，然后和缓下来。关于央行数字货币（CBDC","content":"<p>Federal Reserve Chairman Jerome Powell said in his semi-annual monetary policy report at a House hearing on Wednesday that the U.S. economic recovery has not yet reached a point where asset purchases can begin to taper, adding that inflation is likely to remain high in the coming months before easing. Regarding central bank digital currencies (CBDCs), Powell expects the Federal Reserve to release a report on central bank digital currencies in early September, which will explain the pros and cons of CBDCs.</p><p>The following are the main points of Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report to the House Financial Services Committee:</p><p><b>I. US Economy/Inflation:</b></p><p>① The latest inflation data is higher than expected, with the inflation rate currently much higher than 2%. If inflation expectations continue to be higher than 2%, the Federal Reserve will take action.</p><p>② Monetary policy should remain highly loose, and one of the conditions for rate hike is that the economy is within the range of full employment.</p><p>③ At some point, if inflation data does not decline, the Federal Reserve's description of inflation will \"reverse\".</p><p>④ Federal Reserve uncertainty<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>The inflation is \"temporary,\" but it is still believed to be true.</p><p>⑤ The issue of asset purchases will continue to be discussed at the July FOMC meeting.</p><p>⑥ It was reiterated that the Federal Reserve will provide notice before it begins tapering its bond purchases. ⑦ Investing in good infrastructure can increase economic potential.</p><p><b>II. Job Market:</b></p><p>①It is too early to say whether increasing unemployment benefits will hinder employment.</p><p>② The factors hindering employment will pass, and there will be strong employment growth.</p><p>③ By maintaining patience with employment issues, the unemployment rate will be able to recover to 3.5%.</p><p><b>III. Digital Currency:</b></p><p>① A digital currency report is expected to be released in early September.</p><p>② The risks faced by digital currencies are real.</p><p>③ Stablecoins need an appropriate regulatory framework, and they need to be regulated in a manner similar to money markets and bank deposits.</p><p>④ Decisions regarding digital currencies are being accelerated.</p><p>⑤ Central bank digital currencies may eliminate the need for stablecoins and cryptocurrencies, which is a strong argument in support of this.</p><p><b>IV. US Real Estate:</b></p><p>① Housing prices in the United States are rising at a very high rate.</p><p>② Supply and demand factors lead to rising housing prices.</p><p>③ The real estate market will be a factor in the Federal Reserve's discussion of the tapering plan and its composition.</p><p>④ Even if mortgage rates rise, there will still be a large demand for housing.</p><p><b>V. Others:</b></p><p>① The global semiconductor supply shortage has hindered automobile production/output until 2021.</p><p>② The Federal Reserve hopes that financial institutions will be aware of climate risks.</p><p>③ The Federal Reserve does not face the risk of losing its reserve currency status.</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>Powell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-15 06:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Federal Reserve Chairman Jerome Powell said in his semi-annual monetary policy report at a House hearing on Wednesday that the U.S. economic recovery has not yet reached a point where asset purchases can begin to taper, adding that inflation is likely to remain high in the coming months before easing. Regarding central bank digital currencies (CBDCs), Powell expects the Federal Reserve to release a report on central bank digital currencies in early September, which will explain the pros and cons of CBDCs.</p><p>The following are the main points of Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report to the House Financial Services Committee:</p><p><b>I. US Economy/Inflation:</b></p><p>① The latest inflation data is higher than expected, with the inflation rate currently much higher than 2%. If inflation expectations continue to be higher than 2%, the Federal Reserve will take action.</p><p>② Monetary policy should remain highly loose, and one of the conditions for rate hike is that the economy is within the range of full employment.</p><p>③ At some point, if inflation data does not decline, the Federal Reserve's description of inflation will \"reverse\".</p><p>④ Federal Reserve uncertainty<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>The inflation is \"temporary,\" but it is still believed to be true.</p><p>⑤ The issue of asset purchases will continue to be discussed at the July FOMC meeting.</p><p>⑥ It was reiterated that the Federal Reserve will provide notice before it begins tapering its bond purchases. ⑦ Investing in good infrastructure can increase economic potential.</p><p><b>II. Job Market:</b></p><p>①It is too early to say whether increasing unemployment benefits will hinder employment.</p><p>② The factors hindering employment will pass, and there will be strong employment growth.</p><p>③ By maintaining patience with employment issues, the unemployment rate will be able to recover to 3.5%.</p><p><b>III. Digital Currency:</b></p><p>① A digital currency report is expected to be released in early September.</p><p>② The risks faced by digital currencies are real.</p><p>③ Stablecoins need an appropriate regulatory framework, and they need to be regulated in a manner similar to money markets and bank deposits.</p><p>④ Decisions regarding digital currencies are being accelerated.</p><p>⑤ Central bank digital currencies may eliminate the need for stablecoins and cryptocurrencies, which is a strong argument in support of this.</p><p><b>IV. US Real Estate:</b></p><p>① Housing prices in the United States are rising at a very high rate.</p><p>② Supply and demand factors lead to rising housing prices.</p><p>③ The real estate market will be a factor in the Federal Reserve's discussion of the tapering plan and its composition.</p><p>④ Even if mortgage rates rise, there will still be a large demand for housing.</p><p><b>V. Others:</b></p><p>① The global semiconductor supply shortage has hindered automobile production/output until 2021.</p><p>② The Federal Reserve hopes that financial institutions will be aware of climate risks.</p><p>③ The Federal Reserve does not face the risk of losing its reserve currency status.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/499d73ece33aa33a20d67cc087f64953","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","UPRO":"三倍做多标普500ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","DOG":"道指ETF-ProShares做空","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","IVV":"标普500ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","SH":"做空标普500-Proshares","DJX":"1/100道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170720172","content_text":"美联储主席鲍威尔周三在众议院听证会上作半年度货币政策报告时表示，美国经济复苏还没有达到可以开始收缩资产购买规模的程度，补充称未来几个月通胀率可能会保持较高水平，然后和缓下来。关于央行数字货币（CBDC）方面，鲍威尔预计美联储将在9月初发布央行数字货币报告，届时将阐释CBDC的利弊。\n以下为美联储主席鲍威尔在众议院金融服务委员会就半年度货币政策报告主要内容：\n一、美国经济/通胀：\n①最新的通胀数据比预期的要高，通胀率目前远高于2%，如果通胀预期持续高于2%，美联储就会采取行动。\n②货币政策仍应高度宽松，加息的条件之一是经济处于充分就业的范围内。\n③在某个时候，如果通胀数据不下降，美联储对通胀的描述将会“反转”。\n④美联储不确定高通胀是“暂时的”，但仍然相信这是事实。\n⑤将在7月FOMC会议上继续讨论资产购买问题。\n⑥重申美联储将在开始缩减购债规模前给出通知。⑦对良好的基础设施的投资可以增加经济潜力。\n二、就业市场：\n①现在说增加失业救济金是否会阻碍就业还为时尚早。\n②阻碍就业的因素将会过去，将会有强劲的就业增长。\n③对就业问题保持耐心，将能够恢复到3.5%的失业率。\n三、数字货币：\n①预计9月初将发布数字货币报告。\n②数字货币面临的风险是真实存在的。\n③稳定币需要一个适当的监管框架，稳定币需要以类似货币市场和银行存款的方式进行监管。\n④正在加快作出关于数字货币的决策。\n⑤央行数字货币可能会排除对稳定币和加密货币的需求，这是支持它的有力论据。\n四、美国房地产：\n①美国的房价正在以很高的速度上涨。\n②供需原因导致住房价格上涨。\n③房地产市场将成为美联储讨论缩债计划及其组成的一个因素。\n④即使抵押贷款利率上升，仍然会有大量的住房需求。\n五、其他：\n①全球性的半导体供应短缺问题已经妨碍到2021年的汽车生产/产量。\n②美联储希望金融机构意识到气候风险。\n③美联储并没有面临失去其储备货币地位的风险。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,".DJI":0.9,"PSQ":0.9,"SPY":0.9,"ESmain":0.9,"SH":0.9,"SDS":0.9,"QLD":0.9,"SPXU":0.9,"IVV":0.9,"SDOW":0.9,"DJX":0.9,"DOG":0.9,"SSO":0.9,".IXIC":0.9,"UPRO":0.9,"SQQQ":0.9,"DXD":0.9,"UDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149741954,"gmtCreate":1625750749578,"gmtModify":1703747765788,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"err","listText":"err","text":"err","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/149741954","repostId":"1172733132","repostType":4,"repost":{"id":"1172733132","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1625711383,"share":"https://ttm.financial/m/news/1172733132?lang=en_US&edition=fundamental","pubTime":"2021-07-08 10:29","market":"us","language":"zh","title":"What happened when the \"anchor of global asset pricing\" plummeted?","url":"https://stock-news.laohu8.com/highlight/detail?id=1172733132","media":"华尔街见闻","summary":"10年期美债收益率连续第二日创2月以来盘中新低。对德尔塔变异毒株的担心，经济数据回落，美国债务上限临近重启，以及美联储的态度是主导近期美债收益率走势变化的关键因素。\n\n美国10年期国债收益率继续下行，","content":"<p>The 10-year U.S. Treasury yield hit a new intraday low since February for the second consecutive day. Concerns about the Delta variant, declining economic data, the impending reinstatement of the U.S. debt ceiling, and the Federal Reserve's stance are key factors driving recent changes in U.S. Treasury yields. The continued decline in the yield on the 10-year U.S. Treasury Bond reflects not only investors' concerns about the prospects for U.S. economic growth, but also concerns about the highly contagious Delta variant.</p><p>On Wednesday, July 7, in early trading, the yield on the 10-year Treasury Bond fell below 1.30%.<b>It hit a new intraday low for the second consecutive day since February, and also the first time it has fallen below 1.30% since February this year.</b></p><p>Following the release of the minutes of the Federal Reserve's June meeting, the yield on 10-year U.S. Treasury bonds remained at a low level. The minutes show that Federal Reserve officials are debating how and when to begin tapering the central bank's support for the economy.</p><p>By the close of trading in New York, the yield on the 10-year U.S. Treasury Bond was close to 1.32%, down 3 basis points on the day and at its lowest level for the same period since February 18.</p><p><img src=\"https://static.tigerbbs.com/281f0ec1d91531e8662d1d147de1df8c\" tg-width=\"640\" tg-height=\"425\" referrerpolicy=\"no-referrer\"></p><p>Treasury Bond yields are a closely watched economic barometer, especially long-term bond yields: yields tend to rise when the economic outlook improves. However, when the economic growth outlook is shaken, it will decline.</p><p>U.S. Treasury yields rose sharply in the first quarter of this year, but have been declining recently, reflecting to some extent investors' reassessment of their forecasts for economic recovery. At the same time, various signs suggest that the stimulus provided by the U.S. Congress and the Federal Reserve may not be as strong as before.</p><p><b>The first factor comes from the Delta variant, a highly contagious strain that has cast a shadow over the economic recovery.</b></p><p>According to the latest data released by the U.S. CDC, the Delta variant has become the dominant strain circulating in the United States. In the two weeks ending July 3, the Central Delta variant accounted for 51.7% of new cases in the United States.</p><p>Meanwhile, CDC Director Rochelle Walensky said last week that there are still about 1,000 counties in the United States with vaccine coverage below 30%, most of which are located in the southeastern and midwestern United States. The U.S. CDC has found that the incidence rate in these areas is rising as the Delta variant strain spreads further.</p><p><b>In addition, economic data has also declined, suggesting that the US economic recovery may slow down.</b></p><p>The U.S. ISM Services Index for June, released on July 6, was 60.1, lower than expected and down significantly from the all-time high of 64 reached in May. The employment sub-index even shifted from expansion to contraction, hitting a six-month low.</p><p><b>Some analysts believe that the US TGA account may also be a factor.</b></p><p>The U.S. debt ceiling will take effect at the end of July, meaning the U.S. Treasury Department needs to reduce its TGA account balance before then. MarketWatch quoted John Luke Tyner, a fixed income analyst at Aptus Capital Advisors, as saying that TGA accounts, after accumulating a large amount of funds, are gradually decreasing, leading to a reduction in bond supply, which is a key factor in the recent changes in bond yields.</p><p><b>Finally, of course, is the Federal Reserve's attitude.</b></p><p>The minutes of the Federal Reserve's June meeting, released overnight, suggested that Fed officials expect the Fed to begin tapering QE earlier than expected, given stronger-than-expected economic growth so far this year.</p><p>The Wall Street Journal reports that the Federal Reserve may reduce signs of Treasury Bond purchases or raise short-term interest rates, potentially leading investors to sell bonds and thus push up yields. However, in recent weeks, only short-term yields have risen, while long-term bond yields have fallen, indicating that investors are concerned that tightening monetary policy may harm the economic recovery.</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>What happened when the \"anchor of global asset pricing\" plummeted?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat happened when the \"anchor of global asset pricing\" plummeted?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-07-08 10:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The 10-year U.S. Treasury yield hit a new intraday low since February for the second consecutive day. Concerns about the Delta variant, declining economic data, the impending reinstatement of the U.S. debt ceiling, and the Federal Reserve's stance are key factors driving recent changes in U.S. Treasury yields. The continued decline in the yield on the 10-year U.S. Treasury Bond reflects not only investors' concerns about the prospects for U.S. economic growth, but also concerns about the highly contagious Delta variant.</p><p>On Wednesday, July 7, in early trading, the yield on the 10-year Treasury Bond fell below 1.30%.<b>It hit a new intraday low for the second consecutive day since February, and also the first time it has fallen below 1.30% since February this year.</b></p><p>Following the release of the minutes of the Federal Reserve's June meeting, the yield on 10-year U.S. Treasury bonds remained at a low level. The minutes show that Federal Reserve officials are debating how and when to begin tapering the central bank's support for the economy.</p><p>By the close of trading in New York, the yield on the 10-year U.S. Treasury Bond was close to 1.32%, down 3 basis points on the day and at its lowest level for the same period since February 18.</p><p><img src=\"https://static.tigerbbs.com/281f0ec1d91531e8662d1d147de1df8c\" tg-width=\"640\" tg-height=\"425\" referrerpolicy=\"no-referrer\"></p><p>Treasury Bond yields are a closely watched economic barometer, especially long-term bond yields: yields tend to rise when the economic outlook improves. However, when the economic growth outlook is shaken, it will decline.</p><p>U.S. Treasury yields rose sharply in the first quarter of this year, but have been declining recently, reflecting to some extent investors' reassessment of their forecasts for economic recovery. At the same time, various signs suggest that the stimulus provided by the U.S. Congress and the Federal Reserve may not be as strong as before.</p><p><b>The first factor comes from the Delta variant, a highly contagious strain that has cast a shadow over the economic recovery.</b></p><p>According to the latest data released by the U.S. CDC, the Delta variant has become the dominant strain circulating in the United States. In the two weeks ending July 3, the Central Delta variant accounted for 51.7% of new cases in the United States.</p><p>Meanwhile, CDC Director Rochelle Walensky said last week that there are still about 1,000 counties in the United States with vaccine coverage below 30%, most of which are located in the southeastern and midwestern United States. The U.S. CDC has found that the incidence rate in these areas is rising as the Delta variant strain spreads further.</p><p><b>In addition, economic data has also declined, suggesting that the US economic recovery may slow down.</b></p><p>The U.S. ISM Services Index for June, released on July 6, was 60.1, lower than expected and down significantly from the all-time high of 64 reached in May. The employment sub-index even shifted from expansion to contraction, hitting a six-month low.</p><p><b>Some analysts believe that the US TGA account may also be a factor.</b></p><p>The U.S. debt ceiling will take effect at the end of July, meaning the U.S. Treasury Department needs to reduce its TGA account balance before then. MarketWatch quoted John Luke Tyner, a fixed income analyst at Aptus Capital Advisors, as saying that TGA accounts, after accumulating a large amount of funds, are gradually decreasing, leading to a reduction in bond supply, which is a key factor in the recent changes in bond yields.</p><p><b>Finally, of course, is the Federal Reserve's attitude.</b></p><p>The minutes of the Federal Reserve's June meeting, released overnight, suggested that Fed officials expect the Fed to begin tapering QE earlier than expected, given stronger-than-expected economic growth so far this year.</p><p>The Wall Street Journal reports that the Federal Reserve may reduce signs of Treasury Bond purchases or raise short-term interest rates, potentially leading investors to sell bonds and thus push up yields. However, in recent weeks, only short-term yields have risen, while long-term bond yields have fallen, indicating that investors are concerned that tightening monetary policy may harm the economic recovery.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"161125":"标普500",".DJI":"道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","OEF":"标普100指数ETF-iShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","QQQ":"纳指100ETF",".IXIC":"NASDAQ Composite","TQQQ":"纳指三倍做多ETF","SDOW":"三倍做空道指30ETF-ProShares","IVV":"标普500ETF-iShares","SPY":"标普500ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172733132","content_text":"10年期美债收益率连续第二日创2月以来盘中新低。对德尔塔变异毒株的担心，经济数据回落，美国债务上限临近重启，以及美联储的态度是主导近期美债收益率走势变化的关键因素。\n\n美国10年期国债收益率继续下行，不仅反映出投资者对美国经济增长前景的担忧，也反映了对传染性极强的德尔塔变异毒株的担心。\n7月7日周三美股盘初，美国10年期国债收益率一度降至1.30%下方，连续第二日创2月以来盘中新低，也是今年2月以来首次跌破1.30%。\n在美联储6月会议纪要公布后，10年期美债收益率继续维持在较低水平。纪要显示，美联储官员们正在就如何以及何时开始缩减央行对经济的支持展开辩论。\n截止纽约尾盘，美国10年期国债收益率接近1.32%，日内降3个基点，处于2月18日以来同时段最低水平。\n\n国债收益率是一个受到密切关注的经济晴雨表，尤其是长期债券收益率：当经济前景改善时，收益率往往上行；而当经济增长前景动摇时，则会下行。\n今年一季度，美债收益率曾一度大幅攀升，然而近日以来却一路走低，某种程度上反映了投资者在重新评估对经济复苏的预测，同时各种迹象也显示美国国会和美联储似乎提供的刺激力度可能没有此前那样强劲。\n第一个因素来自德尔塔变异毒株，这种传染性极高的毒株给经济复苏蒙上了阴影。\n根据美国CDC最新公布的数据，德尔塔变异毒株已经成为美国主要流行的毒株。截至7月3日的两周内，美国新增病例中部德尔塔变异毒株的比例占到了51.7%。\n与此同时，美国CDC主任Rochelle Walensky上周表示，美国仍有约1000个县的疫苗覆盖率低于30%，这些县大部分位于美国东南部和中西部。美国CDC已经发现，随着德尔塔变异毒株的进一步传播，这些地区的发病率正在上升。\n此外，经济数据方面也出现回落，意味着美国经济复苏或放缓。\n7月6日公布的6月美国ISM服务业指数为60.1，低于预期，同时较5月创下的64这一历史高位显著回落。其中就业分项指数更是从扩张转为收缩，创下六个月新低。\n还有分析师认为，美国TGA账户可能也是一个因素。\n美国债务上限将在7月底生效，即美国财政部需要在此之前压降TGA账户余额。MarketWatch援引Aptus Capital Advisors固收分析师John Luke Tyner表示，TGA账户在积累了大量资金后，正在逐步减少，导致了债券供应量的减少，这是近期债券收益率走势变化的一个关键因素。\n最后当然是美联储的态度。\n隔夜公布的美联储6月会议纪要暗示，由于今年迄今为止经济增长强于预期，美联储官员们预计美联储能够比预期更早开始缩减QE。\n华尔街日报表示，美联储可能会减少国债购买或者提高短期利率的迹象，可能导致投资者抛售债券，从而推高收益率。但是最近几周，只有短期收益率上行，而长债收益率下行，这表明投资者担心货币政策收紧可能会损害经济复苏。","news_type":1,"symbols_score_info":{"161125":0.9,"PSQ":0.9,"TQQQ":0.9,"TNmain":0.9,"ZBmain":0.9,"SDOW":0.9,"SPY":0.9,".DJI":0.9,"UBmain":0.9,"ESmain":0.9,"IVV":0.9,"ZTmain":0.9,"OEF":0.9,"DOG":0.9,".IXIC":0.9,"ZNmain":0.9,"ZFmain":0.9,"SPXU":0.9,"QID":0.9,"QQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1998,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159402116,"gmtCreate":1624975891135,"gmtModify":1703849277006,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/159402116","repostId":"2147904866","repostType":4,"repost":{"id":"2147904866","kind":"highlight","pubTimestamp":1624975760,"share":"https://ttm.financial/m/news/2147904866?lang=en_US&edition=fundamental","pubTime":"2021-06-29 22:09","market":"us","language":"zh","title":"The US stock market in the first half of the year was \"still running, still dancing, still jumping,\" but everyone was preparing to run.","url":"https://stock-news.laohu8.com/highlight/detail?id=2147904866","media":"华尔街见闻","summary":"在美股散户持续买入、标普500再创新高之际，华尔街开始保持谨慎。投行分析师警告称，考虑拜登税改及美联储缩减刺激政策的潜在威胁，目前美股的涨势恐不能持续。\n美股的上涨势头似乎不可阻挡。在持续买盘的驱动下","content":"<p>As retail investors continued to buy in U.S. stocks and the S&P 500 hit a new high, Wall Street began to remain cautious. Investment banking analysts warn that the current rally in U.S. stocks may not be sustainable, given the potential threats posed by Biden's tax reform and the Federal Reserve's tapering of stimulus policies.</p><p>The upward momentum of US stocks seems unstoppable. Driven by continued buying, the S&P 500 rose nearly 14% in the first six months of this year, increasing its market capitalization by about $6 trillion, and is expected to achieve its second-best first-half performance since 1998. Since the end of October last year, the S&P 500 has never experienced a single-day correction of 5%. In 1999, when valuations were similar, the S&P 500 fell by more than 5% at least nine times.</p><p>The continued buying by retail investors in the US stock market is indispensable. Vanda Research Data shows that,<b>When the S&P 500 index fell more than 1% last week, retail investors poured a record $2 billion into the stock market.</b></p><p>This continuous buying seems unlikely to end with the lifting of the pandemic lockdown. A Betterment survey shows that among 1,500 retail U.S. stock investors surveyed, 58% plan to trade more after the pandemic lockdown is lifted, while only 12% said the number of trades will decrease as the pandemic lockdown is lifted.</p><p>Overall market valuations are also normalizing. Due to the continued expansion of profits, the overall market P/E has fallen from 23x at the beginning of the year (the highest since the dot-com bubble) to 21x, but it is still higher than the 5-year average of 18x.</p><p>However, as the stock market continues to rise, the divergence between sectors is widening.<b>The most severe divergence since 2002 appeared in March this year between the best-performing and worst-performing sectors in the market.</b></p><p>Mid-to-large-cap stocks and small-cap stocks also experienced quite independent market trends.<b>The last time this happened was during the dot-com bubble in 2000.</b></p><p>Wall Street analysts are cautious about the future prospects of US stocks. Analysts generally expect the strong rebound in U.S. corporate earnings after the pandemic to peak this quarter, considering the potential threats from Biden's tax reform and the Federal Reserve's tapering of stimulus policies.<b>Currently, Wall Street's average target forecast for the S&P 500 at the end of the year is only 4,213, which is 1.7% lower than the latest market close.</b></p><p>Short sellers are also regrouping. IHS<a href=\"https://laohu8.com/S/MRKT\">Markit</a>Data shows that,<b>Currently, the short selling ratio of the SPDR S&P 500 ETF has climbed from less than 2% at the beginning of the year to 5%. The demand for protection against losses in the options market in the coming months is also rising.</b></p><p>Market analysts believe that the biggest threat to US stocks currently comes from the Federal Reserve. If the Federal Reserve rate hike ahead of schedule, cash and bonds will become more attractive, leaving investors with no choice but to sell stocks.</p><p>The market is also exceptionally sensitive to the Federal Reserve's moves. Previously, US stocks experienced sharp fluctuations after the Federal Reserve released a hawkish message. Comments from the Fed's rate hike two years from now, rather than the previously expected three years from now from rate hike, increased pressure on the stock market, causing the S&P 500 to fall by slightly more than 2% over three days before resuming its upward trend.</p><p>Washington Crossing fund manager Kevin Caron commented that U.S. stocks may be a bit \"ahead of their time\" right now, and the market may experience some volatility over the next six months until stock prices and fundamentals are more \"normal.\"</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The US stock market in the first half of the year was \"still running, still dancing, still jumping,\" but everyone was preparing to run.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe US stock market in the first half of the year was \"still running, still dancing, still jumping,\" but everyone was preparing to run.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-29 22:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As retail investors continued to buy in U.S. stocks and the S&P 500 hit a new high, Wall Street began to remain cautious. Investment banking analysts warn that the current rally in U.S. stocks may not be sustainable, given the potential threats posed by Biden's tax reform and the Federal Reserve's tapering of stimulus policies.</p><p>The upward momentum of US stocks seems unstoppable. Driven by continued buying, the S&P 500 rose nearly 14% in the first six months of this year, increasing its market capitalization by about $6 trillion, and is expected to achieve its second-best first-half performance since 1998. Since the end of October last year, the S&P 500 has never experienced a single-day correction of 5%. In 1999, when valuations were similar, the S&P 500 fell by more than 5% at least nine times.</p><p>The continued buying by retail investors in the US stock market is indispensable. Vanda Research Data shows that,<b>When the S&P 500 index fell more than 1% last week, retail investors poured a record $2 billion into the stock market.</b></p><p>This continuous buying seems unlikely to end with the lifting of the pandemic lockdown. A Betterment survey shows that among 1,500 retail U.S. stock investors surveyed, 58% plan to trade more after the pandemic lockdown is lifted, while only 12% said the number of trades will decrease as the pandemic lockdown is lifted.</p><p>Overall market valuations are also normalizing. Due to the continued expansion of profits, the overall market P/E has fallen from 23x at the beginning of the year (the highest since the dot-com bubble) to 21x, but it is still higher than the 5-year average of 18x.</p><p>However, as the stock market continues to rise, the divergence between sectors is widening.<b>The most severe divergence since 2002 appeared in March this year between the best-performing and worst-performing sectors in the market.</b></p><p>Mid-to-large-cap stocks and small-cap stocks also experienced quite independent market trends.<b>The last time this happened was during the dot-com bubble in 2000.</b></p><p>Wall Street analysts are cautious about the future prospects of US stocks. Analysts generally expect the strong rebound in U.S. corporate earnings after the pandemic to peak this quarter, considering the potential threats from Biden's tax reform and the Federal Reserve's tapering of stimulus policies.<b>Currently, Wall Street's average target forecast for the S&P 500 at the end of the year is only 4,213, which is 1.7% lower than the latest market close.</b></p><p>Short sellers are also regrouping. IHS<a href=\"https://laohu8.com/S/MRKT\">Markit</a>Data shows that,<b>Currently, the short selling ratio of the SPDR S&P 500 ETF has climbed from less than 2% at the beginning of the year to 5%. The demand for protection against losses in the options market in the coming months is also rising.</b></p><p>Market analysts believe that the biggest threat to US stocks currently comes from the Federal Reserve. If the Federal Reserve rate hike ahead of schedule, cash and bonds will become more attractive, leaving investors with no choice but to sell stocks.</p><p>The market is also exceptionally sensitive to the Federal Reserve's moves. Previously, US stocks experienced sharp fluctuations after the Federal Reserve released a hawkish message. Comments from the Fed's rate hike two years from now, rather than the previously expected three years from now from rate hike, increased pressure on the stock market, causing the S&P 500 to fall by slightly more than 2% over three days before resuming its upward trend.</p><p>Washington Crossing fund manager Kevin Caron commented that U.S. stocks may be a bit \"ahead of their time\" right now, and the market may experience some volatility over the next six months until stock prices and fundamentals are more \"normal.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634144\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/318dced6c8505427ba4c5a73eb4a7981","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","QID":"两倍做空纳斯达克指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","OEX":"标普100","DJX":"1/100道琼斯","SSO":"2倍做多标普500ETF-ProShares","SH":"做空标普500-Proshares","OEF":"标普100指数ETF-iShares","QQQ":"纳指100ETF","DDM":"2倍做多道指ETF-ProShares",".DJI":"道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","UPRO":"三倍做多标普500ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","SQQQ":"纳指三倍做空ETF","DXD":"两倍做空道琼30指数ETF-ProShares",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF-ProShares","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SPY":"标普500ETF","IVV":"标普500ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares"},"source_url":"https://wallstreetcn.com/articles/3634144","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147904866","content_text":"在美股散户持续买入、标普500再创新高之际，华尔街开始保持谨慎。投行分析师警告称，考虑拜登税改及美联储缩减刺激政策的潜在威胁，目前美股的涨势恐不能持续。\n美股的上涨势头似乎不可阻挡。在持续买盘的驱动下，今年前6个月标普500指数上涨近14%，市值增加约6万亿美元，有望创1998年以来第二好的上半年表现。自去年10月底以来，标普500指数从未出现单日回调5%的情况。而在类似估值水平的1999年，标普500指数至少有9次下跌超过5%。\n美股散户的持续买入功不可没。Vanda Research数据显示，当标准普尔500指数上周下跌超过1%时，散户投资者向股市投入了创纪录的20亿美元。\n这种持续性的买入似乎不会因疫情解封而结束。Betterment调查显示，在1500名受调查的美股散户中，有58%的人计划在疫情解封后更多的交易，仅有12%的表示交易数量将随着疫情解封而降低。\n市场的整体估值也在趋向正常。由于利润的持续扩张，市场整体市盈率已经从年初的23x（接近互联网泡沫以来最高）下跌至21x，但仍高过5年平均水平的18x。\n但在股市持续上涨之际，板块之间分化正在扩大。市场中表现最佳板块与表现最差板块之间今年3月出现了2002年以来的最严重分化。\n中大型股和小型股也走出了相当独立的行情，而上一次出现这种情况还要追溯到2000年的互联网泡沫时期。\n对于美股未来前景，华尔街分析师们出言谨慎。分析师们普遍预计，美股公司疫情后业绩的强劲反弹将在本季见顶，考虑拜登税改及美联储缩减刺激政策的潜在威胁，目前华尔街对于标普500年末的平均目标点位预测仅有4213，较最新市场收盘低1.7%。\n空头们也在重新聚集。IHS Markit数据显示，目前市场上对SPDR S&P 500 ETF的卖空比例已从年初的不到2%攀升至5%。期权市场对未来几个月损失的保护需求也在上升。\n市场分析认为，目前对于美股最大的威胁来自美联储。如果美联储提前加息，现金和债券将会更有吸引力，而投资者别无选择只能抛售股票。\n市场对于美联储的动向也异常敏感。此前在美联储释放“鹰派”信息后，美股一度出现剧烈波动。美联储两年后加息、而非此前预计的三年后加息的言论加大了股市的压力，标普500指数在三天内累计跌幅略高于2%，之后才恢复升势。\nWashington Crossing 基金经理Kevin Caron评论称，目前美股可能有点“超前了”，市场在未来的6个月里可能出现一些波动，直到股价和基本面更加“趋于正常”。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"UPRO":0.9,".SPX":0.9,"TQQQ":0.9,"SQQQ":0.9,"SH":0.9,"SDS":0.9,"UDOW":0.9,"QID":0.9,"OEX":0.9,"ESmain":0.9,"SPY":0.9,"SDOW":0.9,"NQmain":0.9,"QQQ":0.9,"DDM":0.9,"OEF":0.9,"DJX":0.9,"DOG":0.9,".DJI":0.9,"IVV":0.9,"MNQmain":0.9,"DXD":0.9,"PSQ":0.9,"QLD":0.9,"SSO":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164456713,"gmtCreate":1624234452132,"gmtModify":1703830989539,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Wow&nbsp;","listText":"Wow&nbsp;","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/164456713","repostId":"2145704051","repostType":4,"isVote":1,"tweetType":1,"viewCount":1526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163588560,"gmtCreate":1623888972750,"gmtModify":1703822474762,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/163588560","repostId":"1158977040","repostType":4,"isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180144943,"gmtCreate":1623196524882,"gmtModify":1704197987320,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Oao&nbsp;","listText":"Oao&nbsp;","text":"Oao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/180144943","repostId":"1179000628","repostType":4,"repost":{"id":"1179000628","kind":"news","pubTimestamp":1623144281,"share":"https://ttm.financial/m/news/1179000628?lang=en_US&edition=fundamental","pubTime":"2021-06-08 17:24","market":"us","language":"zh","title":"\"Tax increases + high inflation\" may make the third quarter a concentrated source of risk in the US stock market.","url":"https://stock-news.laohu8.com/highlight/detail?id=1179000628","media":"智通财经","summary":"2021年下半年的盈利情况相对严峻。","content":"<p>Author: He Yucheng</p><p>Morgan Stanley recently stated that although the current P/E of declining US stocks has been largely offset by rising corporate earnings expectations, US stocks may correct by 10%-15% in the next six months with rising cost pressures and the looming threat of corporate tax increases.</p><p>Given that U.S. corporate earnings exceeded expectations by as much as 20% over the past four quarters, setting an unprecedented new record, the earnings situation in the second half of 2021 is relatively severe.</p><p>Zhitong Finance APP noted that during the pandemic lockdown in the first half of 2020, only three S&P 500 constituent stocks achieved positive returns and revenue growth in the first and second quarters of 2020: the technology, healthcare, and utilities sectors.</p><p>The FactSet (FDS) chart below shows the expected record results for the second quarter of 2021, the best since the fourth quarter of 2009.</p><p><b>Tax increases – the biggest risk to US stocks in the second half of the year</b></p><p>The G7 finance ministers' meeting on June 5 announced their support for a proposal to impose a 15% global minimum tax rate. If Biden's domestic tax increase proposal is implemented, it is expected to be the biggest risk to US stocks in the second half of the year: the increase in corporate income tax will directly impact US stock earnings, while the technology and pharmaceutical industries, which currently have low effective tax rates and a high proportion of overseas revenue, are expected to be the most affected.</p><p>CITIC Securities stated that if the capital gains tax is raised to 39.6%, it is expected to trigger a sell-off by investors, potentially reversing the trend of \"retail investors increasing leverage\" entering the market since February this year.</p><p><b>The third quarter may become a major breakout point for US stocks.</b></p><p>Although the market's consensus expectation for S&P 500 earnings growth this year has been raised from 27% in mid-April to the current 34%, the S&P 500's dynamic valuation is still at a high level of around 22 times. Without new catalysts, the upside potential for the US stock market is limited.</p><p>On the contrary, various risks are gradually intensifying. If the Federal Reserve clearly signals a reduction in bond purchases at the end of August, and the Democrats pass the tax increase bill as scheduled before the end of September, then the late third quarter may be the time when risks in the US stock market will erupt concentratedly.</p><p>If the effective date of the capital gains tax reform is ultimately set for January 1, 2022, the outflow of funds from \"retail investors increasing leverage\" may have a negative impact on the performance of US stocks in the fourth quarter.</p><p><b>Energy stocks remain attractive</b></p><p>Energy stocks have been the best-performing sector in U.S. stock trading this year, but there is still significant room for growth to make up for years of sharp declines.</p><p>Looking at a longer timeline, energy producer stock prices have not yet recovered to levels before the oil price crash that began in the summer of 2014.</p><p><img src=\"https://static.tigerbbs.com/c1d38e07cf5741d1537fbf5147d98bde\" tg-width=\"620\" tg-height=\"521\" referrerpolicy=\"no-referrer\"></p><p>Companies such as ExxonMobil (XOM.US) and Chevron (CVX.US) are pushing upward revisions to earnings per share growth in the energy sector.</p><p>Currently, energy still accounts for only 3% of the S&P 500's market capitalization. This proportion peaked at 14%-15% between August and September 2014.</p>","source":"highlight_zhitongcaijin","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>\"Tax increases + high inflation\" may make the third quarter a concentrated source of risk in the US stock market.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Tax increases + high inflation\" may make the third quarter a concentrated source of risk in the US stock market.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-06-08 17:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Author: He Yucheng</p><p>Morgan Stanley recently stated that although the current P/E of declining US stocks has been largely offset by rising corporate earnings expectations, US stocks may correct by 10%-15% in the next six months with rising cost pressures and the looming threat of corporate tax increases.</p><p>Given that U.S. corporate earnings exceeded expectations by as much as 20% over the past four quarters, setting an unprecedented new record, the earnings situation in the second half of 2021 is relatively severe.</p><p>Zhitong Finance APP noted that during the pandemic lockdown in the first half of 2020, only three S&P 500 constituent stocks achieved positive returns and revenue growth in the first and second quarters of 2020: the technology, healthcare, and utilities sectors.</p><p>The FactSet (FDS) chart below shows the expected record results for the second quarter of 2021, the best since the fourth quarter of 2009.</p><p><b>Tax increases – the biggest risk to US stocks in the second half of the year</b></p><p>The G7 finance ministers' meeting on June 5 announced their support for a proposal to impose a 15% global minimum tax rate. If Biden's domestic tax increase proposal is implemented, it is expected to be the biggest risk to US stocks in the second half of the year: the increase in corporate income tax will directly impact US stock earnings, while the technology and pharmaceutical industries, which currently have low effective tax rates and a high proportion of overseas revenue, are expected to be the most affected.</p><p>CITIC Securities stated that if the capital gains tax is raised to 39.6%, it is expected to trigger a sell-off by investors, potentially reversing the trend of \"retail investors increasing leverage\" entering the market since February this year.</p><p><b>The third quarter may become a major breakout point for US stocks.</b></p><p>Although the market's consensus expectation for S&P 500 earnings growth this year has been raised from 27% in mid-April to the current 34%, the S&P 500's dynamic valuation is still at a high level of around 22 times. Without new catalysts, the upside potential for the US stock market is limited.</p><p>On the contrary, various risks are gradually intensifying. If the Federal Reserve clearly signals a reduction in bond purchases at the end of August, and the Democrats pass the tax increase bill as scheduled before the end of September, then the late third quarter may be the time when risks in the US stock market will erupt concentratedly.</p><p>If the effective date of the capital gains tax reform is ultimately set for January 1, 2022, the outflow of funds from \"retail investors increasing leverage\" may have a negative impact on the performance of US stocks in the fourth quarter.</p><p><b>Energy stocks remain attractive</b></p><p>Energy stocks have been the best-performing sector in U.S. stock trading this year, but there is still significant room for growth to make up for years of sharp declines.</p><p>Looking at a longer timeline, energy producer stock prices have not yet recovered to levels before the oil price crash that began in the summer of 2014.</p><p><img src=\"https://static.tigerbbs.com/c1d38e07cf5741d1537fbf5147d98bde\" tg-width=\"620\" tg-height=\"521\" referrerpolicy=\"no-referrer\"></p><p>Companies such as ExxonMobil (XOM.US) and Chevron (CVX.US) are pushing upward revisions to earnings per share growth in the energy sector.</p><p>Currently, energy still accounts for only 3% of the S&P 500's market capitalization. This proportion peaked at 14%-15% between August and September 2014.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/490104.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2e0bcd99a5c3036928825c7c943e566f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/490104.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1179000628","content_text":"作者： 何钰程\n摩根士丹利近日表示，虽然目前美股不断下滑的市盈率已在很大程度上被不断上升的企业盈利预期所抵消，但随着成本压力上升、企业税上调阴云来袭，美股未来半年或回调10%-15%。\n鉴于过去四个季度，美股企业盈利超出预期的幅度高达20%，创下前所未有的新纪录，相比之下，2021年下半年的盈利情况相对严峻。\n智通财经APP注意到，在2020年上半年疫情封锁期间，只有三个标准普尔500指数成分股在2020年第一季度和第二季度实现了正收益和收入增长，即科技、保健以及公用事业行业。\n下图FactSet(FDS)显示了2021年第二季度预期的创纪录结果，这是自2009年第四季度以来最好的一次。\n加税——美股下半年最大的风险\n6月5日的G7财长会议通告支持征收15%全球最低税率的提议，拜登国内加税提案如落地，预计将是美股下半年最大的风险：企业所得税的上调将直接冲击美股盈利，而当前有效税率较低、海外收入占比高的科技和医药行业受冲击预计最大。\n中信证券表示，若资本利得税若上调至39.6%，预计将引发投资者抛售，今年2月以来“散户加杠杆”入市的趋势或逆转。\n3季度或成为美股集中爆发点\n虽然市场对今年标普500盈利增速的一致预期已从4月中旬的27%上调至当前的34%，但鉴于目前标普指数动态估值仍处于22倍左右的高位。在无新的催化因素下，美股大市进一步上行的空间有限。\n相反，各类风险却在逐步加剧。若美联储于8月底明确释放削减购债的信号，且民主党于9月底前如期通过加税法案，则3季度下旬或是美股风险集中爆发的时间点。\n而如果资本利得税改的起始有效日最终确定为2022年1月1日，则“散户加杠杆”资金的大概率流出可能会在4季度对美股的表现造成负面影响。\n能源股仍具备吸引力\n在美国股市今年以来的交易中，能源股是表现最好的一个板块，但要弥补多年以来的大幅下跌，这个板块还有很大的上行空间。\n如拉长时间轴来看，能源生产商的股价尚未恢复到2014年夏季开始的油价大跌之前的水平。\n\n如埃克森美孚(XOM.US)和雪佛龙(CVX.US)正在推动能源行业每股收益增长的上调。\n目前能源占标普500指数市值的比例仍然只有3%。这一比例在2014年8月至9月达到14%-15%的峰值。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115543416,"gmtCreate":1623024574535,"gmtModify":1704194398801,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577440999113647","authorIdStr":"3577440999113647"},"themes":[],"title":"","htmlText":"？","listText":"？","text":"？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/115543416","repostId":"1124114752","repostType":4,"repost":{"id":"1124114752","kind":"news","pubTimestamp":1623024479,"share":"https://ttm.financial/m/news/1124114752?lang=en_US&edition=fundamental","pubTime":"2021-06-07 08:07","market":"sh","language":"zh","title":"When investing in A shares, which industry is the most profitable to hold for a long time?","url":"https://stock-news.laohu8.com/highlight/detail?id=1124114752","media":"苏宁金融研究院","summary":"近期股市热度再起，很多人再次燃起股市投资的兴趣。经历了春节后的市场下跌及随后的反转，越来越多的投资者开始体会到市场短期波动的无常和不可测，认识到长期持有的必要性。\nA股投资，既可投资个股，也可投资行业","content":"<p>Recently, the stock market has been hot again, and many people have once again ignited their interest in stock market investment. After the market decline and subsequent reversal after the Spring Festival, more and more investors began to realize the impermanence and unpredictability of short-term market fluctuations, and realized the necessity of long-term holding.</p><p>A-share investment can be invested in individual stocks or industries (industry funds/ETFs). Compared with individual stocks, the volatility of the industry is lower, and there is no risk of value clearance when held for a long time. Based on the current market environment, which industries of A shares are worth holding for a long time?</p><p><b>Which industry has been the most profitable to invest in over the past two decades?</b></p><p>Let's first review the historical performance. Suppose an investor invested in industry indexes since the end of 2000 and held them until the end of 2020. What will happen?</p><p>The good news is that annualized yields are positive across all sectors; The bad news is,<b>Only four industries have an annualized yield of more than 10%, namely food and beverage (15.9%), household appliances (11.3%), pharmaceutical and biological (10.3%) and leisure services (10.2%).</b>If investors choose the wrong industry, such as communications (1.7%), steel (1.7%), public utilities (1.4%), architectural decoration (1.3%), mining (1.1%), textiles and clothing (0.5%), etc., long-term holding may not outperform inflation, or even bank deposits.</p><p><img src=\"https://static.tigerbbs.com/779e428a60d236481d8add0ea65957ff\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"></p><p>The conclusion seems clear at a glance. If you want to invest for a long time, just choose ETFs or industry funds in food and beverage, household appliances, medicine and biology, leisure services and other industries. This conclusion is also consistent with the general cognition of investors. The consumer and medical industries have always been fertile ground for bull stocks, such as Maotai,<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>、<a href=\"https://laohu8.com/S/600436\">Pien Tze Huang</a>、<a href=\"https://laohu8.com/S/600276\">Hengrui Medicine</a>Wait, long-term holding has amazing yields.</p><p>The problem is that it is very misleading to calculate the annualized rate of return at any two points in time. The annualized rate of return of the range has two sources, one is valuation growth and the other is profit growth. Only by distinguishing the source of yield can we better distinguish the yield level of the industry.</p><p>By decomposing the annualized rate of return into profit contribution and P/E contribution, we can<b>It is found that between 2000 and 2020, the P/E contribution of most industries is negative, that is, in the past two decades, A shares as a whole have been in the valuation stage (from 69 times to 23 times), and the profit growth of the industry is largely offset by the shrinking valuation.</b></p><p>If only the profit contribution is considered, there will be a significant difference in the ranking of the industry, with banking (17.8%), food and beverage (15.5%), building materials (15.0%), real estate (14.9%), household appliances (13.2%), non-bank finance (12.3%), pharmaceutical biology (11.9%), electrical equipment (11.8%) and other industries ranking high.</p><p><img src=\"https://static.tigerbbs.com/6efdda79042234acd08d733d6d1661fb\" tg-width=\"783\" tg-height=\"310\" referrerpolicy=\"no-referrer\"></p><p>Take the banking industry as an example, with an annualized profit contribution of 17.8%, which is worthy of being the most profitable industry, but the annualized rate of return in 20 years is only 7.2%, which is a quite mediocre level. The reason lies in the huge fluctuation of the P/E. At the end of 2000, the banking industry, as a high-growth industry, had a bright future with a profit ratio of 67 times. At the end of 2020, the P/E dropped to 7.2 times, and the sharp shrinking of valuation offset the contribution of earnings growth.</p><p>It also again shows the importance of buying at a reasonable valuation level. Even in industries with high profit growth, if the valuation level is too high when buying, the return of long-term holding will be very mediocre.</p><p><b>Footing in the present: Which industries are worth holding for the long term?</b></p><p>In the past two decades, China's economy has gone through a stage of rapid growth. Almost all industries have been growth industries, and the overall profit growth is considerable. However, in 2021, the economy has entered a new stage of transformation and upgrading, and industries have begun to differentiate. Some industries are no longer growing, some industries have slowed down, and some industries have promising future prospects.</p><p>The changes of the industry environment have made the reference significance of the annualized rate of return of the industry in the past two decades limited. Investment must face the future and explore investment objects from future high-growth industries.</p><p>According to the elimination method, the growth space of banking, building materials, real estate, steel, mining, nonferrous metals, agriculture, forestry, animal husbandry and fishery industries is limited, which can be included in the negative list and not considered at the industry level (individual stock investment is another matter).<b>In consumption upgrading, population aging, product<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Under the main development lines of carbon neutrality and carbon neutrality, food and beverage, non-bank finance (securities insurance), pharmaceutical biology,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Manufacturing, energy conservation, environmental protection, leisure and entertainment and other fields have broad prospects.</b></p><p>As mentioned earlier, on the premise of promising growth prospects, it is also necessary to evaluate the rationality of industry valuation to avoid high-price buying.</p><p>This paper takes the average P/E of the industry since 2016 as the benchmark P/E, and takes the ratio of the current P/E to the benchmark P/E as the valuation coefficient. The higher the valuation coefficient, the higher the industry valuation level. Take food and beverage as an example. The current P/E (20210531) is 51 times, the benchmark P/E is 33.7 times, and the valuation coefficient is as high as 151%. From the perspective of valuation, it is not a good buying point.</p><p><img src=\"https://static.tigerbbs.com/f9f3b240a5b6c98f701e659ce15542eb\" tg-width=\"781\" tg-height=\"352\" referrerpolicy=\"no-referrer\"></p><p>According to the valuation coefficient from low to high, the valuation level of machinery and equipment, national defense and military industry, communication, media, electronics, non-bank finance, computer and other industries is still lower than the average; In contrast, food and beverage, leisure services and other industries, although long-term profit growth can be expected, the current valuation level is high, so investors need to wait patiently and buy after the valuation falls.</p><p><b>Typical Industry Analysis:</b><b>Pharmaceutical Biology</b></p><p>It should be noted that there will also be differentiation within the industry sector. For example, the automobile industry as a whole belongs to a cyclical industry, but the new energy vehicle sub-sector has high growth attributes; For example, the growth of household appliances and traditional household appliances has slowed down, but the smart home electronic sector has a high growth potential, typically such as sweeping the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>There is huge room for growth.</p><p>In the current market, the pharmaceutical industry has attracted much attention. This paper briefly analyzes the situation of various sub-industries of pharmaceutical biology for investors' decision-making reference.</p><p>We still decompose the annualized rate of return into P/E contribution and profit contribution, focusing on profit contribution. From the perspective of profit contribution, from 2010 to 2020, the medical service industry performed amazing, with an annualized rate of return as high as 21.1%; Medical devices followed closely at 18.6%; It is followed by the biological products and pharmaceutical commercial sub-segments; In contrast, the performance of traditional Chinese medicine and chemical medicine sectors is very mediocre.</p><p><img src=\"https://static.tigerbbs.com/808c45e3f492c33ea2a18f5fb1cffde8\" tg-width=\"781\" tg-height=\"358\" referrerpolicy=\"no-referrer\"></p><p>Taking stock of 18 medical stocks with a market value of more than 100 billion yuan, the compound growth rate of net profit in the past five and ten years has generally been above 20%, and some can even remain above 40%, which once again shows that profit growth is the soil for producing bull stocks. From the perspective of sub-industry distribution, there are 7 companies in the biological products sub-sector, 5 in the medical service sector, 3 in the medical device sector, 2 in the traditional Chinese medicine sector, and only 1 in the chemical drug sector.</p><p><img src=\"https://static.tigerbbs.com/72997ca352fd1ab42ff9d1437c4d392c\" tg-width=\"777\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of profit growth, the sub-sectors of medical services, medical devices and biological products are the first choice. What is the current valuation level of each sector?</p><p>Compared with the average P/E since 2016, the valuation coefficient (current P/E/average P/E) of the medical device sub-sector is only 52%, followed by pharmaceutical commerce (84%), medical services (101%), and biological products (104%). Following, overall, they are at a relatively reasonable level.</p><p><img src=\"https://static.tigerbbs.com/c670a9882d584a69346483c91ecba1b8\" tg-width=\"785\" tg-height=\"388\" referrerpolicy=\"no-referrer\"></p><p><b>Enlightenment for Investors</b></p><p>Value investment emphasizes buying and holding for a long time, but listed companies have their own development cycle. Some companies can improve for a long time, but most companies slowly become mediocre, and their end is death. If investors can't tell the difference, long-term holdings can easily fall into the value trap.</p><p>Therefore, selecting companies with growth potential and dynamically evaluating their competitiveness changes constitutes a threshold for long-term shareholding, and many investors are blocked out. Therefore, Buffett suggested that ordinary investors invest in the index, diversify the risks of individual stocks by holding the index, and enjoy the overall growth benefits of listed companies.</p><p>In fact, there is a better way, which is to select industries.</p><p>At present, CSI Index Company has compiled more than 200 A-share sub-industry indexes, many of which have corresponding ETFs and fund products. Based on their own circle of competence, investors select several long-lived industries with development potential, and buy industry indexes (industry funds or ETFs) at a reasonable level of valuation. Long-term holding has a high probability of outperforming the market.</p>","source":"lsy1568689437122","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>When investing in A shares, which industry is the most profitable to hold for a long time?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhen investing in A shares, which industry is the most profitable to hold for a long time?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">苏宁金融研究院</strong><span class=\"h-time small\">2021-06-07 08:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the stock market has been hot again, and many people have once again ignited their interest in stock market investment. After the market decline and subsequent reversal after the Spring Festival, more and more investors began to realize the impermanence and unpredictability of short-term market fluctuations, and realized the necessity of long-term holding.</p><p>A-share investment can be invested in individual stocks or industries (industry funds/ETFs). Compared with individual stocks, the volatility of the industry is lower, and there is no risk of value clearance when held for a long time. Based on the current market environment, which industries of A shares are worth holding for a long time?</p><p><b>Which industry has been the most profitable to invest in over the past two decades?</b></p><p>Let's first review the historical performance. Suppose an investor invested in industry indexes since the end of 2000 and held them until the end of 2020. What will happen?</p><p>The good news is that annualized yields are positive across all sectors; The bad news is,<b>Only four industries have an annualized yield of more than 10%, namely food and beverage (15.9%), household appliances (11.3%), pharmaceutical and biological (10.3%) and leisure services (10.2%).</b>If investors choose the wrong industry, such as communications (1.7%), steel (1.7%), public utilities (1.4%), architectural decoration (1.3%), mining (1.1%), textiles and clothing (0.5%), etc., long-term holding may not outperform inflation, or even bank deposits.</p><p><img src=\"https://static.tigerbbs.com/779e428a60d236481d8add0ea65957ff\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"></p><p>The conclusion seems clear at a glance. If you want to invest for a long time, just choose ETFs or industry funds in food and beverage, household appliances, medicine and biology, leisure services and other industries. This conclusion is also consistent with the general cognition of investors. The consumer and medical industries have always been fertile ground for bull stocks, such as Maotai,<a href=\"https://laohu8.com/S/000858\">Wuliangye</a>、<a href=\"https://laohu8.com/S/600436\">Pien Tze Huang</a>、<a href=\"https://laohu8.com/S/600276\">Hengrui Medicine</a>Wait, long-term holding has amazing yields.</p><p>The problem is that it is very misleading to calculate the annualized rate of return at any two points in time. The annualized rate of return of the range has two sources, one is valuation growth and the other is profit growth. Only by distinguishing the source of yield can we better distinguish the yield level of the industry.</p><p>By decomposing the annualized rate of return into profit contribution and P/E contribution, we can<b>It is found that between 2000 and 2020, the P/E contribution of most industries is negative, that is, in the past two decades, A shares as a whole have been in the valuation stage (from 69 times to 23 times), and the profit growth of the industry is largely offset by the shrinking valuation.</b></p><p>If only the profit contribution is considered, there will be a significant difference in the ranking of the industry, with banking (17.8%), food and beverage (15.5%), building materials (15.0%), real estate (14.9%), household appliances (13.2%), non-bank finance (12.3%), pharmaceutical biology (11.9%), electrical equipment (11.8%) and other industries ranking high.</p><p><img src=\"https://static.tigerbbs.com/6efdda79042234acd08d733d6d1661fb\" tg-width=\"783\" tg-height=\"310\" referrerpolicy=\"no-referrer\"></p><p>Take the banking industry as an example, with an annualized profit contribution of 17.8%, which is worthy of being the most profitable industry, but the annualized rate of return in 20 years is only 7.2%, which is a quite mediocre level. The reason lies in the huge fluctuation of the P/E. At the end of 2000, the banking industry, as a high-growth industry, had a bright future with a profit ratio of 67 times. At the end of 2020, the P/E dropped to 7.2 times, and the sharp shrinking of valuation offset the contribution of earnings growth.</p><p>It also again shows the importance of buying at a reasonable valuation level. Even in industries with high profit growth, if the valuation level is too high when buying, the return of long-term holding will be very mediocre.</p><p><b>Footing in the present: Which industries are worth holding for the long term?</b></p><p>In the past two decades, China's economy has gone through a stage of rapid growth. Almost all industries have been growth industries, and the overall profit growth is considerable. However, in 2021, the economy has entered a new stage of transformation and upgrading, and industries have begun to differentiate. Some industries are no longer growing, some industries have slowed down, and some industries have promising future prospects.</p><p>The changes of the industry environment have made the reference significance of the annualized rate of return of the industry in the past two decades limited. Investment must face the future and explore investment objects from future high-growth industries.</p><p>According to the elimination method, the growth space of banking, building materials, real estate, steel, mining, nonferrous metals, agriculture, forestry, animal husbandry and fishery industries is limited, which can be included in the negative list and not considered at the industry level (individual stock investment is another matter).<b>In consumption upgrading, population aging, product<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Under the main development lines of carbon neutrality and carbon neutrality, food and beverage, non-bank finance (securities insurance), pharmaceutical biology,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Manufacturing, energy conservation, environmental protection, leisure and entertainment and other fields have broad prospects.</b></p><p>As mentioned earlier, on the premise of promising growth prospects, it is also necessary to evaluate the rationality of industry valuation to avoid high-price buying.</p><p>This paper takes the average P/E of the industry since 2016 as the benchmark P/E, and takes the ratio of the current P/E to the benchmark P/E as the valuation coefficient. The higher the valuation coefficient, the higher the industry valuation level. Take food and beverage as an example. The current P/E (20210531) is 51 times, the benchmark P/E is 33.7 times, and the valuation coefficient is as high as 151%. From the perspective of valuation, it is not a good buying point.</p><p><img src=\"https://static.tigerbbs.com/f9f3b240a5b6c98f701e659ce15542eb\" tg-width=\"781\" tg-height=\"352\" referrerpolicy=\"no-referrer\"></p><p>According to the valuation coefficient from low to high, the valuation level of machinery and equipment, national defense and military industry, communication, media, electronics, non-bank finance, computer and other industries is still lower than the average; In contrast, food and beverage, leisure services and other industries, although long-term profit growth can be expected, the current valuation level is high, so investors need to wait patiently and buy after the valuation falls.</p><p><b>Typical Industry Analysis:</b><b>Pharmaceutical Biology</b></p><p>It should be noted that there will also be differentiation within the industry sector. For example, the automobile industry as a whole belongs to a cyclical industry, but the new energy vehicle sub-sector has high growth attributes; For example, the growth of household appliances and traditional household appliances has slowed down, but the smart home electronic sector has a high growth potential, typically such as sweeping the floor<a href=\"https://laohu8.com/S/300024\">Robot</a>There is huge room for growth.</p><p>In the current market, the pharmaceutical industry has attracted much attention. This paper briefly analyzes the situation of various sub-industries of pharmaceutical biology for investors' decision-making reference.</p><p>We still decompose the annualized rate of return into P/E contribution and profit contribution, focusing on profit contribution. From the perspective of profit contribution, from 2010 to 2020, the medical service industry performed amazing, with an annualized rate of return as high as 21.1%; Medical devices followed closely at 18.6%; It is followed by the biological products and pharmaceutical commercial sub-segments; In contrast, the performance of traditional Chinese medicine and chemical medicine sectors is very mediocre.</p><p><img src=\"https://static.tigerbbs.com/808c45e3f492c33ea2a18f5fb1cffde8\" tg-width=\"781\" tg-height=\"358\" referrerpolicy=\"no-referrer\"></p><p>Taking stock of 18 medical stocks with a market value of more than 100 billion yuan, the compound growth rate of net profit in the past five and ten years has generally been above 20%, and some can even remain above 40%, which once again shows that profit growth is the soil for producing bull stocks. From the perspective of sub-industry distribution, there are 7 companies in the biological products sub-sector, 5 in the medical service sector, 3 in the medical device sector, 2 in the traditional Chinese medicine sector, and only 1 in the chemical drug sector.</p><p><img src=\"https://static.tigerbbs.com/72997ca352fd1ab42ff9d1437c4d392c\" tg-width=\"777\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of profit growth, the sub-sectors of medical services, medical devices and biological products are the first choice. What is the current valuation level of each sector?</p><p>Compared with the average P/E since 2016, the valuation coefficient (current P/E/average P/E) of the medical device sub-sector is only 52%, followed by pharmaceutical commerce (84%), medical services (101%), and biological products (104%). Following, overall, they are at a relatively reasonable level.</p><p><img src=\"https://static.tigerbbs.com/c670a9882d584a69346483c91ecba1b8\" tg-width=\"785\" tg-height=\"388\" referrerpolicy=\"no-referrer\"></p><p><b>Enlightenment for Investors</b></p><p>Value investment emphasizes buying and holding for a long time, but listed companies have their own development cycle. Some companies can improve for a long time, but most companies slowly become mediocre, and their end is death. If investors can't tell the difference, long-term holdings can easily fall into the value trap.</p><p>Therefore, selecting companies with growth potential and dynamically evaluating their competitiveness changes constitutes a threshold for long-term shareholding, and many investors are blocked out. Therefore, Buffett suggested that ordinary investors invest in the index, diversify the risks of individual stocks by holding the index, and enjoy the overall growth benefits of listed companies.</p><p>In fact, there is a better way, which is to select industries.</p><p>At present, CSI Index Company has compiled more than 200 A-share sub-industry indexes, many of which have corresponding ETFs and fund products. Based on their own circle of competence, investors select several long-lived industries with development potential, and buy industry indexes (industry funds or ETFs) at a reasonable level of valuation. Long-term holding has a high probability of outperforming the market.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/-I7-UVkVIAHNs4H19twnQA\">苏宁金融研究院</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/718d9d0cee89dacb8ae3664167fe24e6","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/-I7-UVkVIAHNs4H19twnQA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124114752","content_text":"近期股市热度再起，很多人再次燃起股市投资的兴趣。经历了春节后的市场下跌及随后的反转，越来越多的投资者开始体会到市场短期波动的无常和不可测，认识到长期持有的必要性。\nA股投资，既可投资个股，也可投资行业（行业基金/ETF）。相比个股，行业的波动性更低，且长期持有没有价值清零风险。立足当下市场环境，A股哪些行业值得长期持有呢？\n过去二十年，投资哪个行业最赚钱？\n我们先来回顾下历史表现。假定一个投资者自2000年末开始投资行业指数，持有至2020年末，结果会怎样呢？\n好消息是，所有行业的年化收益率均为正值；坏消息是，仅有四个行业的年化收益率超过10%，分别是食品饮料（15.9%）、家用电器（11.3%）、医药生物（10.3%）和休闲服务（10.2%）。若投资者选错了行业，如通信（1.7%）、钢铁（1.7%）、公用事业（1.4%）、建筑装饰（1.3%）、采掘（1.1%）、纺织服装（0.5%）等，长期持有未必能跑赢通胀，甚至跑不赢银行存款。\n\n结论似乎一目了然，若要长期投资，选择食品饮料、家用电器、医药生物、休闲服务等行业的ETF或行业基金就好了。这个结论与投资者的普遍认知也是相符的，消费、医疗行业一向是产生牛股的沃土，典型如茅台、五粮液、片仔癀、恒瑞医药等，长期拿着都有惊人的收益率。\n问题是，任意拿两个时点来计算年化收益率，具有很大的误导性。区间的年化收益率有两个来源，一是估值增长，一是盈利增长。只有区分收益率来源，才能更好地辨别行业的收益率水平。\n通过把年化收益率分解为盈利贡献和市盈率贡献，可以发现2000-2020年间，绝大多数行业的市盈率贡献都是负的，即过去二十年A股整体处于杀估值阶段（从69倍降至23倍），行业的盈利增长很大程度上被估值缩水对冲掉了。\n若仅考虑盈利贡献，行业排名位次会出现显著差异，银行（17.8%）、食品饮料（15.5%）、建筑材料（15.0%）、房地产（14.9%）、家用电器（13.2%）、非银金融（12.3%）、医药生物（11.9%）、电气设备（11.8%）等行业排名靠前。\n\n以银行业为例，年化盈利贡献高达17.8%，不愧为最赚钱的行业，但二十年里年化收益率仅为7.2%，是一个相当平庸的水平。原因在于市盈率的巨大波动，2000年末，银行业作为高增长行业，前景光明，盈率高达67倍，2020年末，市盈率降至7.2倍，估值的大幅缩水抵消了盈利增长的贡献。\n这也再次表明以合理估值水平买入的重要性。即便是盈利高增长的行业，若买入时估值水平太高，长期持有的回报也会非常平庸。\n立足当下：哪些行业值得长期持有？\n过去二十年，中国经济走过高速增长阶段，几乎所有行业都曾是成长性行业，整体盈利增长相当可观。但步入2021年，经济步入转型升级的新阶段，行业开始分化，有些行业不再增长，有些行业增长放缓，也有些行业未来前景可期。\n行业大环境的变化，让行业过去二十年的年化收益率参考意义有限，投资必须面向未来，从未来的高增长行业中发掘投资对象。\n用排除法来看，银行、建筑材料、地产、钢铁、采掘、有色、农林牧渔等行业增长空间有限，可纳入负面清单，在行业层面不予考虑（个股投资是另一回事）。在消费升级、人口老龄化、产品智能化、碳中和等发展主线下，食品饮料、非银金融（券商保险）、医药生物、智能制造、节能环保、休闲娱乐等领域前景广阔。\n如前所述，在增长前景看好的前提下，还要评估行业估值的合理性，以避免高价买入。\n本文以2016年以来的行业平均市盈率为基准市盈率，取当前市盈率与基准市盈率的比值为估值系数，估值系数越高，代表行业估值水平越高。以食品饮料为例，当前市盈率（20210531）为51倍，基准市盈率为33.7倍，估值系数高达151%，从估值的角度看，并非好的买点。\n\n按照估值系数从低到高排序，机械设备、国防军工、通信、传媒、电子、非银金融、计算机等行业估值水平仍低于平均值；相比之下，食品饮料、休闲服务等行业，虽然长期盈利增长可期，但当前估值水平较高，投资者需耐心等待，估值回落后再行买入。\n典型行业分析：医药生物\n需要注意的是，行业板块内部也会存在分化。比如汽车行业，整体属于周期性行业，但新能源汽车子板块则具有高成长属性；比如家用电器，传统家电增长放缓，但智能家电子板块则有很高的成长性，典型如扫地机器人，成长空间巨大。\n在当前市场中，医药行业备受关注，本文简单剖析下医药生物各个子行业的情况，供投资者决策参考。\n我们依旧把年化收益率分解为市盈率贡献和盈利贡献，着重看盈利贡献。站在盈利贡献的视角，2010-2020年间，医疗服务业表现惊艳，年化收益率高达21.1%；医疗器械紧跟其后，为18.6%；其后是生物制品、医药商业子板块；相比之下，中药、化学药板块表现非常平庸。\n\n盘点千亿市值以上的18只医疗股，过去五年、十年净利润复合增速普遍在20%以上，有些甚至能保持在40%以上，再次表明盈利增长才是产生牛股的土壤。从子行业分布看，生物制品子板块7家公司，医疗服务板块5家，医疗器械板块3家，中药2家，化学药仅1家上榜。\n\n从盈利增长的角度看，医疗服务、医疗器械、生物制品子板块是首选，那当前各板块的估值水平如何呢？\n与2016年以来平均市盈率相比，医疗器械子板块估值系数（当前市盈率/平均市盈率）仅为52%，医药商业（84%）、医疗服务（101%）、生物制品（104%）紧随其后，整体而言，都处于相对合理的水平。\n\n给投资者的启示\n价值投资强调买入并长期持有，但上市公司有自身的发展周期，有些公司能长期向好，但多数公司都慢慢变得平庸，其终局便是走向死亡。投资者若不能加以分辨，长期持股很容易陷入价值陷阱。\n所以，挑选有成长潜力的公司并动态评估其竞争力变化，便构成了长期持股的一道门槛，很多投资者被挡在门外。于是，巴菲特建议普通投资者定投指数，通过持有指数来分散个股风险，享受上市公司整体增长的收益。\n其实，还有一个更好的办法，就是精选行业。\n当前，中证指数公司已编制了200多个A股细分行业指数，很多指数都有对应的ETF和基金产品，投资者基于自己的能力圈，挑选几个有发展潜力的长寿行业，在估值合理的水平买入行业指数（行业基金或ETF），长期持有大概率能够跑赢市场。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":149741954,"gmtCreate":1625750749578,"gmtModify":1703747765788,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"err","listText":"err","text":"err","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/149741954","repostId":"1172733132","repostType":4,"repost":{"id":"1172733132","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1625711383,"share":"https://ttm.financial/m/news/1172733132?lang=en_US&edition=fundamental","pubTime":"2021-07-08 10:29","market":"us","language":"zh","title":"What happened when the \"anchor of global asset pricing\" plummeted?","url":"https://stock-news.laohu8.com/highlight/detail?id=1172733132","media":"华尔街见闻","summary":"10年期美债收益率连续第二日创2月以来盘中新低。对德尔塔变异毒株的担心，经济数据回落，美国债务上限临近重启，以及美联储的态度是主导近期美债收益率走势变化的关键因素。\n\n美国10年期国债收益率继续下行，","content":"<p>The 10-year U.S. Treasury yield hit a new intraday low since February for the second consecutive day. Concerns about the Delta variant, declining economic data, the impending reinstatement of the U.S. debt ceiling, and the Federal Reserve's stance are key factors driving recent changes in U.S. Treasury yields. The continued decline in the yield on the 10-year U.S. Treasury Bond reflects not only investors' concerns about the prospects for U.S. economic growth, but also concerns about the highly contagious Delta variant.</p><p>On Wednesday, July 7, in early trading, the yield on the 10-year Treasury Bond fell below 1.30%.<b>It hit a new intraday low for the second consecutive day since February, and also the first time it has fallen below 1.30% since February this year.</b></p><p>Following the release of the minutes of the Federal Reserve's June meeting, the yield on 10-year U.S. Treasury bonds remained at a low level. The minutes show that Federal Reserve officials are debating how and when to begin tapering the central bank's support for the economy.</p><p>By the close of trading in New York, the yield on the 10-year U.S. Treasury Bond was close to 1.32%, down 3 basis points on the day and at its lowest level for the same period since February 18.</p><p><img src=\"https://static.tigerbbs.com/281f0ec1d91531e8662d1d147de1df8c\" tg-width=\"640\" tg-height=\"425\" referrerpolicy=\"no-referrer\"></p><p>Treasury Bond yields are a closely watched economic barometer, especially long-term bond yields: yields tend to rise when the economic outlook improves. However, when the economic growth outlook is shaken, it will decline.</p><p>U.S. Treasury yields rose sharply in the first quarter of this year, but have been declining recently, reflecting to some extent investors' reassessment of their forecasts for economic recovery. At the same time, various signs suggest that the stimulus provided by the U.S. Congress and the Federal Reserve may not be as strong as before.</p><p><b>The first factor comes from the Delta variant, a highly contagious strain that has cast a shadow over the economic recovery.</b></p><p>According to the latest data released by the U.S. CDC, the Delta variant has become the dominant strain circulating in the United States. In the two weeks ending July 3, the Central Delta variant accounted for 51.7% of new cases in the United States.</p><p>Meanwhile, CDC Director Rochelle Walensky said last week that there are still about 1,000 counties in the United States with vaccine coverage below 30%, most of which are located in the southeastern and midwestern United States. The U.S. CDC has found that the incidence rate in these areas is rising as the Delta variant strain spreads further.</p><p><b>In addition, economic data has also declined, suggesting that the US economic recovery may slow down.</b></p><p>The U.S. ISM Services Index for June, released on July 6, was 60.1, lower than expected and down significantly from the all-time high of 64 reached in May. The employment sub-index even shifted from expansion to contraction, hitting a six-month low.</p><p><b>Some analysts believe that the US TGA account may also be a factor.</b></p><p>The U.S. debt ceiling will take effect at the end of July, meaning the U.S. Treasury Department needs to reduce its TGA account balance before then. MarketWatch quoted John Luke Tyner, a fixed income analyst at Aptus Capital Advisors, as saying that TGA accounts, after accumulating a large amount of funds, are gradually decreasing, leading to a reduction in bond supply, which is a key factor in the recent changes in bond yields.</p><p><b>Finally, of course, is the Federal Reserve's attitude.</b></p><p>The minutes of the Federal Reserve's June meeting, released overnight, suggested that Fed officials expect the Fed to begin tapering QE earlier than expected, given stronger-than-expected economic growth so far this year.</p><p>The Wall Street Journal reports that the Federal Reserve may reduce signs of Treasury Bond purchases or raise short-term interest rates, potentially leading investors to sell bonds and thus push up yields. However, in recent weeks, only short-term yields have risen, while long-term bond yields have fallen, indicating that investors are concerned that tightening monetary policy may harm the economic recovery.</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>What happened when the \"anchor of global asset pricing\" plummeted?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat happened when the \"anchor of global asset pricing\" plummeted?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-07-08 10:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The 10-year U.S. Treasury yield hit a new intraday low since February for the second consecutive day. Concerns about the Delta variant, declining economic data, the impending reinstatement of the U.S. debt ceiling, and the Federal Reserve's stance are key factors driving recent changes in U.S. Treasury yields. The continued decline in the yield on the 10-year U.S. Treasury Bond reflects not only investors' concerns about the prospects for U.S. economic growth, but also concerns about the highly contagious Delta variant.</p><p>On Wednesday, July 7, in early trading, the yield on the 10-year Treasury Bond fell below 1.30%.<b>It hit a new intraday low for the second consecutive day since February, and also the first time it has fallen below 1.30% since February this year.</b></p><p>Following the release of the minutes of the Federal Reserve's June meeting, the yield on 10-year U.S. Treasury bonds remained at a low level. The minutes show that Federal Reserve officials are debating how and when to begin tapering the central bank's support for the economy.</p><p>By the close of trading in New York, the yield on the 10-year U.S. Treasury Bond was close to 1.32%, down 3 basis points on the day and at its lowest level for the same period since February 18.</p><p><img src=\"https://static.tigerbbs.com/281f0ec1d91531e8662d1d147de1df8c\" tg-width=\"640\" tg-height=\"425\" referrerpolicy=\"no-referrer\"></p><p>Treasury Bond yields are a closely watched economic barometer, especially long-term bond yields: yields tend to rise when the economic outlook improves. However, when the economic growth outlook is shaken, it will decline.</p><p>U.S. Treasury yields rose sharply in the first quarter of this year, but have been declining recently, reflecting to some extent investors' reassessment of their forecasts for economic recovery. At the same time, various signs suggest that the stimulus provided by the U.S. Congress and the Federal Reserve may not be as strong as before.</p><p><b>The first factor comes from the Delta variant, a highly contagious strain that has cast a shadow over the economic recovery.</b></p><p>According to the latest data released by the U.S. CDC, the Delta variant has become the dominant strain circulating in the United States. In the two weeks ending July 3, the Central Delta variant accounted for 51.7% of new cases in the United States.</p><p>Meanwhile, CDC Director Rochelle Walensky said last week that there are still about 1,000 counties in the United States with vaccine coverage below 30%, most of which are located in the southeastern and midwestern United States. The U.S. CDC has found that the incidence rate in these areas is rising as the Delta variant strain spreads further.</p><p><b>In addition, economic data has also declined, suggesting that the US economic recovery may slow down.</b></p><p>The U.S. ISM Services Index for June, released on July 6, was 60.1, lower than expected and down significantly from the all-time high of 64 reached in May. The employment sub-index even shifted from expansion to contraction, hitting a six-month low.</p><p><b>Some analysts believe that the US TGA account may also be a factor.</b></p><p>The U.S. debt ceiling will take effect at the end of July, meaning the U.S. Treasury Department needs to reduce its TGA account balance before then. MarketWatch quoted John Luke Tyner, a fixed income analyst at Aptus Capital Advisors, as saying that TGA accounts, after accumulating a large amount of funds, are gradually decreasing, leading to a reduction in bond supply, which is a key factor in the recent changes in bond yields.</p><p><b>Finally, of course, is the Federal Reserve's attitude.</b></p><p>The minutes of the Federal Reserve's June meeting, released overnight, suggested that Fed officials expect the Fed to begin tapering QE earlier than expected, given stronger-than-expected economic growth so far this year.</p><p>The Wall Street Journal reports that the Federal Reserve may reduce signs of Treasury Bond purchases or raise short-term interest rates, potentially leading investors to sell bonds and thus push up yields. However, in recent weeks, only short-term yields have risen, while long-term bond yields have fallen, indicating that investors are concerned that tightening monetary policy may harm the economic recovery.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"161125":"标普500",".DJI":"道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","OEF":"标普100指数ETF-iShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","QQQ":"纳指100ETF",".IXIC":"NASDAQ Composite","TQQQ":"纳指三倍做多ETF","SDOW":"三倍做空道指30ETF-ProShares","IVV":"标普500ETF-iShares","SPY":"标普500ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172733132","content_text":"10年期美债收益率连续第二日创2月以来盘中新低。对德尔塔变异毒株的担心，经济数据回落，美国债务上限临近重启，以及美联储的态度是主导近期美债收益率走势变化的关键因素。\n\n美国10年期国债收益率继续下行，不仅反映出投资者对美国经济增长前景的担忧，也反映了对传染性极强的德尔塔变异毒株的担心。\n7月7日周三美股盘初，美国10年期国债收益率一度降至1.30%下方，连续第二日创2月以来盘中新低，也是今年2月以来首次跌破1.30%。\n在美联储6月会议纪要公布后，10年期美债收益率继续维持在较低水平。纪要显示，美联储官员们正在就如何以及何时开始缩减央行对经济的支持展开辩论。\n截止纽约尾盘，美国10年期国债收益率接近1.32%，日内降3个基点，处于2月18日以来同时段最低水平。\n\n国债收益率是一个受到密切关注的经济晴雨表，尤其是长期债券收益率：当经济前景改善时，收益率往往上行；而当经济增长前景动摇时，则会下行。\n今年一季度，美债收益率曾一度大幅攀升，然而近日以来却一路走低，某种程度上反映了投资者在重新评估对经济复苏的预测，同时各种迹象也显示美国国会和美联储似乎提供的刺激力度可能没有此前那样强劲。\n第一个因素来自德尔塔变异毒株，这种传染性极高的毒株给经济复苏蒙上了阴影。\n根据美国CDC最新公布的数据，德尔塔变异毒株已经成为美国主要流行的毒株。截至7月3日的两周内，美国新增病例中部德尔塔变异毒株的比例占到了51.7%。\n与此同时，美国CDC主任Rochelle Walensky上周表示，美国仍有约1000个县的疫苗覆盖率低于30%，这些县大部分位于美国东南部和中西部。美国CDC已经发现，随着德尔塔变异毒株的进一步传播，这些地区的发病率正在上升。\n此外，经济数据方面也出现回落，意味着美国经济复苏或放缓。\n7月6日公布的6月美国ISM服务业指数为60.1，低于预期，同时较5月创下的64这一历史高位显著回落。其中就业分项指数更是从扩张转为收缩，创下六个月新低。\n还有分析师认为，美国TGA账户可能也是一个因素。\n美国债务上限将在7月底生效，即美国财政部需要在此之前压降TGA账户余额。MarketWatch援引Aptus Capital Advisors固收分析师John Luke Tyner表示，TGA账户在积累了大量资金后，正在逐步减少，导致了债券供应量的减少，这是近期债券收益率走势变化的一个关键因素。\n最后当然是美联储的态度。\n隔夜公布的美联储6月会议纪要暗示，由于今年迄今为止经济增长强于预期，美联储官员们预计美联储能够比预期更早开始缩减QE。\n华尔街日报表示，美联储可能会减少国债购买或者提高短期利率的迹象，可能导致投资者抛售债券，从而推高收益率。但是最近几周，只有短期收益率上行，而长债收益率下行，这表明投资者担心货币政策收紧可能会损害经济复苏。","news_type":1,"symbols_score_info":{"161125":0.9,"PSQ":0.9,"TQQQ":0.9,"TNmain":0.9,"ZBmain":0.9,"SDOW":0.9,"SPY":0.9,".DJI":0.9,"UBmain":0.9,"ESmain":0.9,"IVV":0.9,"ZTmain":0.9,"OEF":0.9,"DOG":0.9,".IXIC":0.9,"ZNmain":0.9,"ZFmain":0.9,"SPXU":0.9,"QID":0.9,"QQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1998,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815296966,"gmtCreate":1630679166755,"gmtModify":1676530374930,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/815296966","repostId":"1124577665","repostType":4,"repost":{"id":"1124577665","kind":"news","pubTimestamp":1630636929,"share":"https://ttm.financial/m/news/1124577665?lang=en_US&edition=fundamental","pubTime":"2021-09-03 10:42","market":"us","language":"zh","title":"With multiple risks looming, will US stocks experience significant volatility in September?","url":"https://stock-news.laohu8.com/highlight/detail?id=1124577665","media":"腾讯美股","summary":"伴随9月到来，美股市场正面对着越来越多的潜在风险。","content":"<p><i>Since the end of World War II, the S&P 500 has only had a 45% chance of rising in September. In addition to the historical background, there are a series of major events that hide considerable risks, such as the August jobs report to be released this Friday. The specific performance of the latter is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plans to begin tapering bond purchases this year.</i><img src=\"https://static.tigerbbs.com/8beafe1f53440c121923a321284d7b5d\" tg-width=\"1080\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p>After seven consecutive months of gains, the US stock market is facing increasing potential risks with the arrival of September. Unfortunately, this month happens to be \"infamous\" in stock market history—the worst-performing month in history.</p><p>CFRA data shows that since the end of World War II, the S&P 500 has only had a 45% chance of rising in September, and in all of those Septembers, the index has fallen by an average of 0.56%, ranking last among all months—in fact, except for September and February, the average return of the index has been positive in all other months.</p><p>Currently, the overall view among Wall Street strategists is that while it is not yet certain that a pullback or consolidation is imminent, risks are undoubtedly accumulating. Specifically, factors such as changes in Federal Reserve policy, the accelerated spread of the Delta variant virus, and political risks could negatively impact the US stock market.</p><p><a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Chief investment strategist Liz Ann Sonders said that while it would be too mechanical to assume that the performance in September 2021 will follow historical trends, the risks are indeed difficult to ignore. \"Are there significant risks that, at some point in the future, one of them could cause the market to decline by 3% or 4%? The answer is definitely yes. Whether that timeframe could be September is definitely yes.\"</p><p>A detailed analysis of historical data reveals that in September of the first year of a president's term, the performance of US stocks would have been even worse than the average. On average, the S&P 500 fell by 0.73% in September over the years. CFRA also found that historical records show that if the S&P 500 hits new highs in both July and August—as it did this year—there is only a 43% chance that the index will rise in the following September, with an average decline of 0.74%.</p><p>The S&P 500 rose nearly 3% in mid-August this year, and is up 20.4% year-to-date as of the end of August.</p><p><b>Risks are brewing</b></p><p>Specifically, in September this year, in addition to the historical background, there are a series of major events that hide considerable risks. For example, the August employment report to be released this Friday, the specific performance of which is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plan to start reducing bond-buying operations this year.</p><p>Dow Jones data shows that economists currently generally expect new jobs to reach 750,000 in August. Market observers explained that if the final results significantly exceed expectations, the Federal Reserve may intensify and accelerate the tapering of its original $120 billion monthly bond-buying program, and they will most likely announce a decision to taper the program, which began within the year, at the September meeting. Conversely, if employment data only meets or falls short of expectations, the Fed's timing of tapering could be delayed by several months.</p><p>Sanders believes that relatively weak employment data may not necessarily be bad news for the US stock market, as this data means that the Federal Reserve may delay the start of tapering and proceed with more caution rather than drastic measures. Although Federal Reserve Chairman Jerome Powell emphasized last week that tapering the bond-buying program and rate hike are two completely unrelated things, most market observers still tend to see the former as a precursor to the latter.</p><p>Sanders explained that the Fed's future decisions will be determined by the various economic data that are constantly being released. This means that the development of the pandemic and the corresponding impact on the economy will continue to be an important factor influencing their decisions. \"The final conclusion is indeed regrettable: the market's performance ultimately depends on the outcome of the pandemic.\"</p><p><b>Can normalcy return?</b></p><p>From another perspective, September is also seen by many observers as a delicate juncture that influences American sentiment, namely, as students return to school, people will feel somewhat that life is returning to normal. At the same time, with parents of school-aged children able to return to the workforce and additional unemployment benefits officially expiring, September is also an important juncture in which the labor shortage situation is expected to improve.</p><p>However, due to the spread of the Delta variant, the US economy is facing the threat of entirely new variables, such as the fact that many businesses have postponed their reopening. At the same time, with the rise of the pandemic, many retail and catering businesses have also been hit by a further decline in customer traffic.</p><p>Julian Emanuel, head of equity and derivatives strategy at BITG, bluntly stated: \"Consumer confidence has been significantly shaken. This is not closely related to the specific circumstances of the pandemic; the key is that we had originally expected that life would basically return to normal by September.\"</p><p>Sanders of Charles Schwab said that under normal circumstances, the Federal Reserve should be the primary determinant of the US stock market in September, but at the same time, the pandemic has the potential to forcibly \"steal the show\" and become the main player.</p><p>“I think this back-to-school season is not just about psychological factors,” Sanders said. “People will be closely watching whether keeping schools open in places with relatively low vaccination rates will further worsen the situation. Clearly, this is a pandemic risk that is closely related to time.”</p><p>Emanuel stated that the market will continue to closely monitor the Federal Reserve to determine how it continues to advance its bond-buying tapering program.</p><p>\"All of this was one of the most pressing issues at the September meeting. The reason the market wanted the Fed to announce a reduction in its operating schedule in advance was because if they didn't announce it, it would likely mean that they already understood the damage the pandemic had done to the economy and labor market (beyond expectations).\"</p><p>Another economic data point in September that could impact the market is inflation data. The consumer price index report will be released on September 14. Emanuel explained that if inflation remains high, it could push up Treasury Bond yields, which is undoubtedly bad news for the stock market.</p><p>Emanuel stated that the market will also be watching when the U.S. will reach its debt ceiling and whether the multi-trillion dollar infrastructure bill will be passed, with Congress expected to begin reviewing the latter in September.</p><p>Finally, the US withdrawal from Afghanistan also brings additional risks. Emanuel stated, \"Various events are occurring one after another, which are likely to have longer-term political consequences. If there are signs of greater unrest on the ground, the impact will intensify.\"</p><p><b>The worst month</b></p><p>Emanuel himself expects a significant sell-off in the US stock market in September, pointing out that historical records show that September and October are often volatile.</p><p>\"Of course, this doesn't mean the stock market will inevitably fall, but from our perspective, the sentiment that the market won't fall as long as the Fed doesn't rate hike is too widespread, and market participants are too complacent.\"</p><p>He believes investors should take serious measures to protect themselves against potential declines and suggests that everyone consider using options tools. “We’re not saying you should be afraid. We’re saying you must proceed with caution. Your portfolio has already made considerable gains and it’s best to preserve it.”</p><p>Sanders also said that large-scale consolidations are commonplace in the market, but some investors feel that the market is more resilient today than ever before because mainstream indices are constantly setting records. She said that what she is most worried about is various speculative bubbles. \"Rotational consolidation and bear markets have actually emerged in areas such as MEME stocks, special purpose acquisition companies (SPACs), and cryptocurrencies.\"</p><p>Sanders said that among the major sectors of the S&P 500 index, she currently only gives healthcare a top performance rating to one sector. Currently, she primarily looks for investment opportunities based on factors, rather than sectors. For example, she is currently researching the quality of different stocks, looking for positive news such as free cash flow or rising earnings expectations.</p>","source":"txmg","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>With multiple risks looming, will US stocks experience significant volatility in September?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWith multiple risks looming, will US stocks experience significant volatility in September?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯美股</strong><span class=\"h-time small\">2021-09-03 10:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Since the end of World War II, the S&P 500 has only had a 45% chance of rising in September. In addition to the historical background, there are a series of major events that hide considerable risks, such as the August jobs report to be released this Friday. The specific performance of the latter is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plans to begin tapering bond purchases this year.</i><img src=\"https://static.tigerbbs.com/8beafe1f53440c121923a321284d7b5d\" tg-width=\"1080\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p>After seven consecutive months of gains, the US stock market is facing increasing potential risks with the arrival of September. Unfortunately, this month happens to be \"infamous\" in stock market history—the worst-performing month in history.</p><p>CFRA data shows that since the end of World War II, the S&P 500 has only had a 45% chance of rising in September, and in all of those Septembers, the index has fallen by an average of 0.56%, ranking last among all months—in fact, except for September and February, the average return of the index has been positive in all other months.</p><p>Currently, the overall view among Wall Street strategists is that while it is not yet certain that a pullback or consolidation is imminent, risks are undoubtedly accumulating. Specifically, factors such as changes in Federal Reserve policy, the accelerated spread of the Delta variant virus, and political risks could negatively impact the US stock market.</p><p><a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Chief investment strategist Liz Ann Sonders said that while it would be too mechanical to assume that the performance in September 2021 will follow historical trends, the risks are indeed difficult to ignore. \"Are there significant risks that, at some point in the future, one of them could cause the market to decline by 3% or 4%? The answer is definitely yes. Whether that timeframe could be September is definitely yes.\"</p><p>A detailed analysis of historical data reveals that in September of the first year of a president's term, the performance of US stocks would have been even worse than the average. On average, the S&P 500 fell by 0.73% in September over the years. CFRA also found that historical records show that if the S&P 500 hits new highs in both July and August—as it did this year—there is only a 43% chance that the index will rise in the following September, with an average decline of 0.74%.</p><p>The S&P 500 rose nearly 3% in mid-August this year, and is up 20.4% year-to-date as of the end of August.</p><p><b>Risks are brewing</b></p><p>Specifically, in September this year, in addition to the historical background, there are a series of major events that hide considerable risks. For example, the August employment report to be released this Friday, the specific performance of which is likely to directly affect the Federal Reserve's policy meeting on September 22 and their plan to start reducing bond-buying operations this year.</p><p>Dow Jones data shows that economists currently generally expect new jobs to reach 750,000 in August. Market observers explained that if the final results significantly exceed expectations, the Federal Reserve may intensify and accelerate the tapering of its original $120 billion monthly bond-buying program, and they will most likely announce a decision to taper the program, which began within the year, at the September meeting. Conversely, if employment data only meets or falls short of expectations, the Fed's timing of tapering could be delayed by several months.</p><p>Sanders believes that relatively weak employment data may not necessarily be bad news for the US stock market, as this data means that the Federal Reserve may delay the start of tapering and proceed with more caution rather than drastic measures. Although Federal Reserve Chairman Jerome Powell emphasized last week that tapering the bond-buying program and rate hike are two completely unrelated things, most market observers still tend to see the former as a precursor to the latter.</p><p>Sanders explained that the Fed's future decisions will be determined by the various economic data that are constantly being released. This means that the development of the pandemic and the corresponding impact on the economy will continue to be an important factor influencing their decisions. \"The final conclusion is indeed regrettable: the market's performance ultimately depends on the outcome of the pandemic.\"</p><p><b>Can normalcy return?</b></p><p>From another perspective, September is also seen by many observers as a delicate juncture that influences American sentiment, namely, as students return to school, people will feel somewhat that life is returning to normal. At the same time, with parents of school-aged children able to return to the workforce and additional unemployment benefits officially expiring, September is also an important juncture in which the labor shortage situation is expected to improve.</p><p>However, due to the spread of the Delta variant, the US economy is facing the threat of entirely new variables, such as the fact that many businesses have postponed their reopening. At the same time, with the rise of the pandemic, many retail and catering businesses have also been hit by a further decline in customer traffic.</p><p>Julian Emanuel, head of equity and derivatives strategy at BITG, bluntly stated: \"Consumer confidence has been significantly shaken. This is not closely related to the specific circumstances of the pandemic; the key is that we had originally expected that life would basically return to normal by September.\"</p><p>Sanders of Charles Schwab said that under normal circumstances, the Federal Reserve should be the primary determinant of the US stock market in September, but at the same time, the pandemic has the potential to forcibly \"steal the show\" and become the main player.</p><p>“I think this back-to-school season is not just about psychological factors,” Sanders said. “People will be closely watching whether keeping schools open in places with relatively low vaccination rates will further worsen the situation. Clearly, this is a pandemic risk that is closely related to time.”</p><p>Emanuel stated that the market will continue to closely monitor the Federal Reserve to determine how it continues to advance its bond-buying tapering program.</p><p>\"All of this was one of the most pressing issues at the September meeting. The reason the market wanted the Fed to announce a reduction in its operating schedule in advance was because if they didn't announce it, it would likely mean that they already understood the damage the pandemic had done to the economy and labor market (beyond expectations).\"</p><p>Another economic data point in September that could impact the market is inflation data. The consumer price index report will be released on September 14. Emanuel explained that if inflation remains high, it could push up Treasury Bond yields, which is undoubtedly bad news for the stock market.</p><p>Emanuel stated that the market will also be watching when the U.S. will reach its debt ceiling and whether the multi-trillion dollar infrastructure bill will be passed, with Congress expected to begin reviewing the latter in September.</p><p>Finally, the US withdrawal from Afghanistan also brings additional risks. Emanuel stated, \"Various events are occurring one after another, which are likely to have longer-term political consequences. If there are signs of greater unrest on the ground, the impact will intensify.\"</p><p><b>The worst month</b></p><p>Emanuel himself expects a significant sell-off in the US stock market in September, pointing out that historical records show that September and October are often volatile.</p><p>\"Of course, this doesn't mean the stock market will inevitably fall, but from our perspective, the sentiment that the market won't fall as long as the Fed doesn't rate hike is too widespread, and market participants are too complacent.\"</p><p>He believes investors should take serious measures to protect themselves against potential declines and suggests that everyone consider using options tools. “We’re not saying you should be afraid. We’re saying you must proceed with caution. Your portfolio has already made considerable gains and it’s best to preserve it.”</p><p>Sanders also said that large-scale consolidations are commonplace in the market, but some investors feel that the market is more resilient today than ever before because mainstream indices are constantly setting records. She said that what she is most worried about is various speculative bubbles. \"Rotational consolidation and bear markets have actually emerged in areas such as MEME stocks, special purpose acquisition companies (SPACs), and cryptocurrencies.\"</p><p>Sanders said that among the major sectors of the S&P 500 index, she currently only gives healthcare a top performance rating to one sector. Currently, she primarily looks for investment opportunities based on factors, rather than sectors. For example, she is currently researching the quality of different stocks, looking for positive news such as free cash flow or rising earnings expectations.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/lN2TWV92hFLiXRdDdT09dw\">腾讯美股</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/598c94c6b6db0e39a9e952fd336db660","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/lN2TWV92hFLiXRdDdT09dw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124577665","content_text":"自第二次世界大战结束以来，标普500指数在9月间上涨的概率只有45%。除了历史背景之外，还有一系列重大事件，背后都隐藏着可观的风险，比如本周五将发布的8月就业报告，后者的具体表现很可能将直接影响到联储9月22日的政策会议，影响到他们在今年年内开始缩减购债操作的计划制定工作。\n\n\n在连续七个月上涨之后，伴随9月到来，美股市场正面对着越来越多的潜在风险，而不巧的是，这个月份在股市历史上恰好是“臭名昭著”——史上表现最差月份。\nCFRA的数据显示，自第二次世界大战结束以来，标普500指数在9月间上涨的概率只有45%，在所有这些9月当中,指数平均下跌0.56%，在所有月份当中排名倒数第一——事实上，除了9月和2月，其他月份当中，指数的平均回报率都是正数。\n目前，华尔街策略师们的整体看法是，虽然还不能确定一场回挫或者盘整已经迫在眉睫，但是风险毋庸置疑地正在不断累积。具体来说，诸如联储政策变化，德尔塔变种病毒的加速传播，以及政治风险等，都可能会使美股市场受到负面冲击。\n嘉信理财首席投资策略师桑德斯（Liz Ann Sonders）表示，虽然现在就假定2021年9月的表现会追随历史趋势未免过于机械，但是风险确实难以忽视。“是否存在着大量的风险，到了未来某一时刻，其中之一就可能造成市场3%或者4%的回挫？答案当然是肯定的。那个时间节点是否可能是9月，答案当然还是肯定的。”\n对历史数据进行细化分析就会发现，如果是总统任期第一年的9月，美股的表现甚至还要比平均水准更加糟糕。平均而言，在这些年头的9月当中，标普500指数的跌幅达到了0.73%。CFRA还发现，历史记录显示，如果标普500指数在7月和8月当中都创下了新高——就像今年一样——则指数在接下来的9月当中只有43%概率上涨，平均表现是下跌0.74%。\n今年8月当中，标普500指数上涨了近3%，截至8月底，年度迄今为止涨幅为20.4%。\n风险在酝\n具体到今年的9月，除了历史背景之外，还有一系列重大事件，背后都隐藏着可观的风险，比如本周五将发布的8月就业报告，后者的具体表现很可能将直接影响到联储9月22日的政策会议，影响到他们在今年年内开始缩减购债操作的计划制定工作。\n道琼斯的数据显示，经济学家们目前的普遍预期是，8月间新增就业人数将达到75万。市场观察家们解释说，如果最终发布的结果大幅度超出这个预期，联储原本每月1200亿美元的购债计划的缩减工作就可能会加大力度，加快速度，他们大概率会在9月会议上宣布缩减在年内开始的决定。相反，如果就业数据只是符合预期，甚至不及预期，联储的缩减启动时间点就可能往后拖若干个月。\n桑德斯的判断是，相对疲软的就业数据其实未必就是美股市场的坏消息，因为这数据就意味着联储可能会推迟缩减开始的时间，并且以更小心谨慎，而非大刀阔斧的方式进行缩减操作。虽然联储主席鲍威尔上周强调，缩减购债计划与加息是完全不相干的两件事，但是大多数市场观察家还是倾向于将前者视为后者的先声。\n桑德斯解释说，联储未来的决策都要看不断出炉的各种经济数据来确定。这也就意味着，疫情的发展，以及经济受到的相应影响，将持续成为影响他们决策的重要因素。“最后结论确实让人遗憾，市场的表现归根结底还是要看疫情的脸色。”\n常态能否归来\n从另外一个角度，9月也被许多观察家们视作一个影响美国人情绪的微妙时间节点，即，伴随学生返校，大家会多少产生一些生活正在回归常态的感觉。与此同时，伴随学龄儿童的家长得以重新回归劳动力大军，以及失业救济额外补贴正式宣告到期，9月还是一个劳动力短缺局面预计将得到改善的重要节点。\n只不过，由于德尔塔变种病毒的传播，美国经济正面临着全新变数的威胁，比如不少企业都已经推迟了重新开门的时间。与此同时，伴随疫情的抬头，众多零售和餐饮企业也都遭遇了消费客流再度回落的打击。\nBITG股票和衍生产品策略部门负责人伊曼纽尔（Julian Emanuel）直言不讳：“消费者信心已经发生了重大动摇。这与疫情的具体情况倒是关系没有密切，关键在于，我们原本都曾经预计，到了9月，生活就将基本回归常态了。”\n嘉信理财的桑德斯表示，对于美股市场而言，正常情况下，9月行情的头号决定者应该是联储，但是与此同时，疫情也完全有强行“抢戏”，成为主角的可能性。\n“我认为，这一次的返校季节可不是单纯的心理因素那么简单。”桑德斯表示，“人们将密切关注的是，在那些疫苗接种率相对较低的地方，学校保持开放状态，是否会造成局面的进一步恶化。显然，这是一项与时间密切相关的疫情风险。”\n伊曼纽尔表示，市场还将继续密切关注联储，以确定他们到底是如何持续推进其购债缩减计划的。\n“这一切正是9月会议上，人们最关注的问题之一，市场之所以希望联储提前宣布缩减操作日程表，是因为如果他们没有宣布，就很可能是意味着他们已经了解了疫情对经济和劳动力市场的损害（超过了预期）。”\n9月另外一种可能给市场造成冲击的经济数据则是通货膨胀数据。消费者价格指数报告将在9月14日发布。伊曼纽尔解释说，如果通货膨胀继续高企，就可能推高国债收益率，而这对于股市无疑是个坏消息。\n伊曼纽尔表示，市场同时还会关注美国触及债务上限的时间点，以及规模达到若干万亿美元的基础设施法案是否能够通过，预计国会9月就将展开对后者的审议。\n最后，美国从阿富汗的撤军也带来了额外的风险。伊曼纽尔表示：“各种事件接二连三地发生，很可能会造成较为长期的政治后果，如果有迹象显示当地将发生更大的动荡，则其影响还将变本加厉。”\n最糟的月份\n伊曼纽尔自己的预期是，9月间，美股市场上将发生一波非常可观的抛售行情，他指出，历史记录显示，9月和10月经常都是充满波动的。\n“当然这不是说股市必然要下跌，但是从我们的角度看去，认定只要联储不加息，市场就不会下跌的情绪弥漫太过广泛，市场参与者太过志得意满了。”\n他认为投资者应该认真采取措施，针对可能的下跌保护好自己，并建议大家考虑使用期权工具。“我们并不是说，你理应满怀恐惧。我们要说的是，你必须谨慎从事。你的投资组合已经取得了可观的利得，最好能够保住。”\n桑德斯也说，其实大规模的盘整对于市场而言本来就是家常便饭，只是一些投资者因为主流指数现在都在不断创下纪录，而觉得今日市场的弹力超过以往而已。她说，自己最担心的就是各种投机泡沫。“在MEME股票、特殊目的收购公司（SPAC）和虚拟货币等领域，轮动性盘整和熊市其实已经出现。”\n桑德斯说，在标普500指数各大板块当中，她目前只给予了医疗卫生一个板块以超越表现评级。目前，她寻找投资机会主要是基于因素，而不是基于板块了。比如，她现在正在研究各只不同个股的品质，寻找自由现金流或者盈利预期调升等利好消息。","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":6191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893463326,"gmtCreate":1628295962365,"gmtModify":1703504612411,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Bj","listText":"Bj","text":"Bj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/893463326","repostId":"1136593672","repostType":4,"isVote":1,"tweetType":1,"viewCount":5930,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163588560,"gmtCreate":1623888972750,"gmtModify":1703822474762,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/163588560","repostId":"1158977040","repostType":4,"isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105393994,"gmtCreate":1620267693018,"gmtModify":1704341069860,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Oh yeah","listText":"Oh yeah","text":"Oh yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/105393994","repostId":"1136899287","repostType":4,"repost":{"id":"1136899287","kind":"news","weMediaInfo":{"introduction":"中国大陆领先的金融数据、信息和软件服务企业，总部位于上海陆家嘴金融中心。","home_visible":1,"media_name":"Wind万得","id":"99","head_image":"https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68"},"pubTimestamp":1620260915,"share":"https://ttm.financial/m/news/1136899287?lang=en_US&edition=fundamental","pubTime":"2021-05-06 08:28","market":"fut","language":"zh","title":"Global Market Holiday Performance at a Glance! Top International Investment Banks Forecast Red May for China's Stock Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1136899287","media":"Wind万得","summary":"五一小长假顺利过完，虽然A股休市，但欧美市场、港股均正常交易。假期全球其他市场表现如何，或对节后A股有一定的影响。\n瑞银和高盛策略师均认为，现在应该买入中国股票，中国股市将迎来“红五月”。高盛策略师们","content":"<p>The May Day holiday passed smoothly. Although the A-share market was closed, the European and American markets and Hong Kong stocks traded normally. How other global markets perform during the holiday may have a certain impact on A shares after the holiday.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>And<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Strategists agree that,<b>You should buy Chinese stocks now, and the Chinese stock market will usher in \"Red May\". Goldman Sachs strategists expect the MSCI China Index to rise 18% over the next 12 months.</b></p><p><b>/ /Global market holiday performance at a glance/ /</b></p><p>Equity markets in major global capital markets diverged widely in the first three trading sessions of the week, according to Wind data. Among them, the three largest stocks in the United States<b>The Dow Jones Industrial Average closed with a slight gain of 1.05%, hitting another all-time high. While the Nasdaq index led the decline with a sharp drop of 2.72%,</b>In addition, the S&P 500 also fell slightly by 0.32%. In addition, the German DAX index, the three major European stock indexes,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>Index, France's CAC40 both closed with modest gains.<b>In the Asia-Pacific market, Hong Kong's Hang Seng Index fell slightly by 1.07%, while South Korea's Composite Index rebounded by 0.02%.</b></p><p>Compared with the mixed ups and downs of many stock markets, many varieties of commodity markets have gone up strongly. Wind market shows that LME copper continues to stage a bull market,<b>On May 5th, it broke through 10,000 USD/ton in the intraday session,</b>It is going farther and farther at the new high of more than 10 years, not far from the all-time high of $10,190/ton. In addition, the BDI (Baltic Dry Index) also hit a new 10-year high at 3,157 points,<b>A sharp 3.41% increase relative to pre-holiday.</b></p><p>In addition, LME aluminum also rose, continuing to rise, hitting a new high in more than three years.<b>The first three trading sessions of the week saw a sharp 2.11% gain. Crude oil also rose sharply by 2.72% during the May Day holiday, while gold and silver also closed with a sharp increase.</b></p><p><img src=\"https://static.tigerbbs.com/6654a4b336d41b21854a08e158f0364b\" tg-width=\"683\" tg-height=\"1093\" referrerpolicy=\"no-referrer\"></p><p><b>/ /Institutions are optimistic about the market outlook/ /</b></p><p><a href=\"https://laohu8.com/S/002736\">Guosen Securities</a>Looking forward to May, both the macro-level economic data and the micro-level financial report data of listed companies show that the current economy is still growing strongly, and the upward trend of the market has not changed. From a structural perspective, the probability of further relying on valuation improvements to gain stock price increases in 2021 is extremely low.<b>The market characteristics of the follow-up market are mainly to look for varieties with sufficient upward profit flexibility.</b></p><p>Zhongshan Securities pointed out that in the absence of major policy adjustment or the influence of black swan event, it is expected that the A-share market will gradually return to rationality, and the follow-up will return to the mode that the performance growth of high-quality enterprises drives the stock price up.<b>In the short term, it will continue to be in the stage of valuation digestion, and it will still be dominated by horizontal shocks. However, under the environment of overall stable economic recovery, the medium and long-term positive trend will remain unchanged.</b></p><p>Song Yiwei and Yan Peipei, analysts of Bohai Securities, released a research report, saying that in terms of market strategy and quarterly report of funds, the scale of partial stock funds increased significantly, while the position dropped by 0.78 percentage points to 77.1%, which was at a relatively low level since 2018Q4. Under the background of the obvious switching of market style in the first quarter, the industry allocation of partial stock funds also showed a certain high-low switching, mainly increasing the allocation of banking, chemical industry, pharmaceutical biology and electronic industries, and reducing the allocation of electrical equipment, non-bank finance, household appliances and other industries. In terms of market judgment, the environment of \"performance\" and \"valuation\" caused by this year's macro level makes it easier for the market to form a volatile market. And in stages,<b>The shrinking characteristics of stock supply and demand and the consideration of multiple objectives such as risk prevention and smooth operation of the capital market by the capital market supervision policy are also conducive to the formation of a stable stage of the capital market, so the previous judgment on the volatile market of the capital market continues.</b></p><p><b>/ /Where is the configuration direction in May?   //</b></p><p>According to Zhang Qiyao, the investment strategy of Guosheng Securities, the main contradiction in this year's market lies in the sustainability of economic recovery, which may be divided into two situations: 1) If the economy continues to fall short of expectations, especially the overseas economic recovery momentum, the pull on domestic exports and manufacturing will be weakened. Under such circumstances, monetary policy is expected to change from tight to loose,<b>Drive the market style faster to benefit from the denominator-driven growth of technology and core assets and other sectors</b>； 2) If the subsequent economic recovery maintains a strong kinetic energy, PPI will continue to be at a high level, and corporate profits, especially middle and upstream enterprises, will maintain a high prosperity. In this case, then<b>The cyclical plate is expected to usher in repair again.</b>However, at present, there are great differences between macro data and market expectations, and more time and evidence are needed to judge the subsequent economic trend. Therefore, the phased market will remain in the window of a bottom-up selection structure. The change point will not appear again in June and July after the economic clues become clearer.</p><p>Song Yiwei and Yan Peipei, analysts of Bohai Securities, believe that in terms of allocation,<b>Continue to recommend sectors with low valuation and low sentiment, and recommend paying attention to computer, communication, banking, real estate and transportation sectors.</b>The above-mentioned sectors are more based on the tactical idea of staged defense. From a longer-term strategic perspective, it is the primary investment direction of future economic and social resources to return to the goal of building a domestic big cycle as the main body, solve the long-term stuck neck problem and forge a technical long board. For science and technology (including chips, high-end equipment manufacturing, biomedicine,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Driving, etc.), carbon neutrality (photovoltaic, wind power, new energy vehicles, etc.), military industry and other fields, pay attention to whether the valuation has returned to a reasonable level, and re-judge the allocation opportunity from a longer-term perspective.</p><p>Galaxy Securities Research Institute counted the ups and downs of various industry sectors in May from 2011 to 2020. The data shows that,<b>In the past decade, the food and beverage and household appliances sector rose the most in May, with eight times; Among them, the food and beverage sector ranked first in May for three times in the past decade.</b></p><p>Overall, the \"Sell in May\" effect of consumer industries such as household appliances and food and beverage is weak. In some years, the food and beverage sector has become a safe haven in the Pudie market.<a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It said that in May, the market style turned to defense, and the probability of rising household appliances, food and beverage, medicine, etc. was the top. In addition, under the background of the May Day holiday, the probability of leisure services rising is also the top.</p><p><img src=\"https://static.tigerbbs.com/0d4bedfa195ef4f151c66b60971b5482\" tg-width=\"796\" tg-height=\"878\" referrerpolicy=\"no-referrer\"></p><p>CMB International Strategy Report pointed out that after digesting the risks of inflation and rising bond yields and tightening monetary policy, the sentiment of Hong Kong stock market is expected to gradually improve.<b>Looking ahead to the second half of 2021, growth stocks are expected to outperform cyclical stocks again. We are also optimistic about the technology sector.</b></p><p><b>Avoid upstream resource stocks.</b>Commodities have benefited from the economic recovery and higher energy and metal prices, but we think share prices may have fully reflected the positive factors. Sooner or later, supply bottlenecks will be resolved.</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>Global Market Holiday Performance at a Glance! Top International Investment Banks Forecast Red May for China's Stock Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobal Market Holiday Performance at a Glance! Top International Investment Banks Forecast Red May for China's Stock Market\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time smaller\">2021-05-06 08:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday passed smoothly. Although the A-share market was closed, the European and American markets and Hong Kong stocks traded normally. How other global markets perform during the holiday may have a certain impact on A shares after the holiday.</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>And<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Strategists agree that,<b>You should buy Chinese stocks now, and the Chinese stock market will usher in \"Red May\". Goldman Sachs strategists expect the MSCI China Index to rise 18% over the next 12 months.</b></p><p><b>/ /Global market holiday performance at a glance/ /</b></p><p>Equity markets in major global capital markets diverged widely in the first three trading sessions of the week, according to Wind data. Among them, the three largest stocks in the United States<b>The Dow Jones Industrial Average closed with a slight gain of 1.05%, hitting another all-time high. While the Nasdaq index led the decline with a sharp drop of 2.72%,</b>In addition, the S&P 500 also fell slightly by 0.32%. In addition, the German DAX index, the three major European stock indexes,<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>Index, France's CAC40 both closed with modest gains.<b>In the Asia-Pacific market, Hong Kong's Hang Seng Index fell slightly by 1.07%, while South Korea's Composite Index rebounded by 0.02%.</b></p><p>Compared with the mixed ups and downs of many stock markets, many varieties of commodity markets have gone up strongly. Wind market shows that LME copper continues to stage a bull market,<b>On May 5th, it broke through 10,000 USD/ton in the intraday session,</b>It is going farther and farther at the new high of more than 10 years, not far from the all-time high of $10,190/ton. In addition, the BDI (Baltic Dry Index) also hit a new 10-year high at 3,157 points,<b>A sharp 3.41% increase relative to pre-holiday.</b></p><p>In addition, LME aluminum also rose, continuing to rise, hitting a new high in more than three years.<b>The first three trading sessions of the week saw a sharp 2.11% gain. Crude oil also rose sharply by 2.72% during the May Day holiday, while gold and silver also closed with a sharp increase.</b></p><p><img src=\"https://static.tigerbbs.com/6654a4b336d41b21854a08e158f0364b\" tg-width=\"683\" tg-height=\"1093\" referrerpolicy=\"no-referrer\"></p><p><b>/ /Institutions are optimistic about the market outlook/ /</b></p><p><a href=\"https://laohu8.com/S/002736\">Guosen Securities</a>Looking forward to May, both the macro-level economic data and the micro-level financial report data of listed companies show that the current economy is still growing strongly, and the upward trend of the market has not changed. From a structural perspective, the probability of further relying on valuation improvements to gain stock price increases in 2021 is extremely low.<b>The market characteristics of the follow-up market are mainly to look for varieties with sufficient upward profit flexibility.</b></p><p>Zhongshan Securities pointed out that in the absence of major policy adjustment or the influence of black swan event, it is expected that the A-share market will gradually return to rationality, and the follow-up will return to the mode that the performance growth of high-quality enterprises drives the stock price up.<b>In the short term, it will continue to be in the stage of valuation digestion, and it will still be dominated by horizontal shocks. However, under the environment of overall stable economic recovery, the medium and long-term positive trend will remain unchanged.</b></p><p>Song Yiwei and Yan Peipei, analysts of Bohai Securities, released a research report, saying that in terms of market strategy and quarterly report of funds, the scale of partial stock funds increased significantly, while the position dropped by 0.78 percentage points to 77.1%, which was at a relatively low level since 2018Q4. Under the background of the obvious switching of market style in the first quarter, the industry allocation of partial stock funds also showed a certain high-low switching, mainly increasing the allocation of banking, chemical industry, pharmaceutical biology and electronic industries, and reducing the allocation of electrical equipment, non-bank finance, household appliances and other industries. In terms of market judgment, the environment of \"performance\" and \"valuation\" caused by this year's macro level makes it easier for the market to form a volatile market. And in stages,<b>The shrinking characteristics of stock supply and demand and the consideration of multiple objectives such as risk prevention and smooth operation of the capital market by the capital market supervision policy are also conducive to the formation of a stable stage of the capital market, so the previous judgment on the volatile market of the capital market continues.</b></p><p><b>/ /Where is the configuration direction in May?   //</b></p><p>According to Zhang Qiyao, the investment strategy of Guosheng Securities, the main contradiction in this year's market lies in the sustainability of economic recovery, which may be divided into two situations: 1) If the economy continues to fall short of expectations, especially the overseas economic recovery momentum, the pull on domestic exports and manufacturing will be weakened. Under such circumstances, monetary policy is expected to change from tight to loose,<b>Drive the market style faster to benefit from the denominator-driven growth of technology and core assets and other sectors</b>； 2) If the subsequent economic recovery maintains a strong kinetic energy, PPI will continue to be at a high level, and corporate profits, especially middle and upstream enterprises, will maintain a high prosperity. In this case, then<b>The cyclical plate is expected to usher in repair again.</b>However, at present, there are great differences between macro data and market expectations, and more time and evidence are needed to judge the subsequent economic trend. Therefore, the phased market will remain in the window of a bottom-up selection structure. The change point will not appear again in June and July after the economic clues become clearer.</p><p>Song Yiwei and Yan Peipei, analysts of Bohai Securities, believe that in terms of allocation,<b>Continue to recommend sectors with low valuation and low sentiment, and recommend paying attention to computer, communication, banking, real estate and transportation sectors.</b>The above-mentioned sectors are more based on the tactical idea of staged defense. From a longer-term strategic perspective, it is the primary investment direction of future economic and social resources to return to the goal of building a domestic big cycle as the main body, solve the long-term stuck neck problem and forge a technical long board. For science and technology (including chips, high-end equipment manufacturing, biomedicine,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Driving, etc.), carbon neutrality (photovoltaic, wind power, new energy vehicles, etc.), military industry and other fields, pay attention to whether the valuation has returned to a reasonable level, and re-judge the allocation opportunity from a longer-term perspective.</p><p>Galaxy Securities Research Institute counted the ups and downs of various industry sectors in May from 2011 to 2020. The data shows that,<b>In the past decade, the food and beverage and household appliances sector rose the most in May, with eight times; Among them, the food and beverage sector ranked first in May for three times in the past decade.</b></p><p>Overall, the \"Sell in May\" effect of consumer industries such as household appliances and food and beverage is weak. In some years, the food and beverage sector has become a safe haven in the Pudie market.<a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It said that in May, the market style turned to defense, and the probability of rising household appliances, food and beverage, medicine, etc. was the top. In addition, under the background of the May Day holiday, the probability of leisure services rising is also the top.</p><p><img src=\"https://static.tigerbbs.com/0d4bedfa195ef4f151c66b60971b5482\" tg-width=\"796\" tg-height=\"878\" referrerpolicy=\"no-referrer\"></p><p>CMB International Strategy Report pointed out that after digesting the risks of inflation and rising bond yields and tightening monetary policy, the sentiment of Hong Kong stock market is expected to gradually improve.<b>Looking ahead to the second half of 2021, growth stocks are expected to outperform cyclical stocks again. We are also optimistic about the technology sector.</b></p><p><b>Avoid upstream resource stocks.</b>Commodities have benefited from the economic recovery and higher energy and metal prices, but we think share prices may have fully reflected the positive factors. Sooner or later, supply bottlenecks will be resolved.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"UDOW":"三倍做多道指30ETF-ProShares","DOG":"道指ETF-ProShares做空","000001.SH":"上证指数","DJX":"1/100道琼斯","SDOW":"三倍做空道指30ETF-ProShares",".DJI":"道琼斯","DDM":"2倍做多道指ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136899287","content_text":"五一小长假顺利过完，虽然A股休市，但欧美市场、港股均正常交易。假期全球其他市场表现如何，或对节后A股有一定的影响。\n瑞银和高盛策略师均认为，现在应该买入中国股票，中国股市将迎来“红五月”。高盛策略师们预计MSCI中国指数未来12个月将上涨18%。\n//全球市场假期表现一览  //\nWind数据显示，本周前三个交易日，全球主要资本市场的股市分歧较大。其中美三大股指道琼斯工业指数较强以小幅上涨1.05%收盘，再创历史新高。而纳斯达克指数以大幅下跌2.72%位居跌幅首位，此外标普500也小跌0.32%。另外欧洲三大股指德国DAX指数，英国富时100指数、法国CAC40指数均以小幅上涨收盘。亚太市场，香港恒生指数小幅下跌1.07%，韩国综合指数回探0.02%。\n与多个股市涨跌不一相比，商品市场多个品种强劲上攻。Wind行情显示，LME铜继续上演小牛市行情，5月5日盘中突破10000美元/吨，在10多年新高上越走越远，离历史最高点10190美元/吨相距不远。此外强劲的还有BDI指数（波罗的海干散货指数）也创出10多年新高，报3157点，相对于节前大幅上涨3.41%。\n另外LME铝也涨势一片，继续走高，创3年多新高，本周前三个交易日大幅上涨2.11%。原油五一假期也大幅上涨2.72%，而黄金、白银同样以大幅上涨报收。\n\n//机构看好后市  //\n国信证券表示，展望5月，宏观层面经济数据与微观层面上市公司财报数据均显示出当前经济仍在延续强劲的增长态势，行情向上的趋势未变。从结构上看，2021年进一步依靠估值提升获得股价上涨的概率极低，后续行情的市场特征主要是要寻找盈利向上弹性够大的品种。\n中山证券指出，在无大的政策调整或是黑天鹅事件影响下，预计A股市场将逐渐回归理性，后续将回到优质企业业绩增长推动股价上涨的模式，短期内将继续处于估值消化阶段，依旧以横向震荡为主，但在经济整体稳定复苏的环境下，中长期向好趋势不变。\n渤海证券分析师宋亦威、严佩佩发布研报称，市场策略方面，基金一季报方面，偏股型基金的规模大幅增加，与此同时仓位下降0.78个百分点至77.1%，处于2018Q4以来的相对低位。在一季度市场风格出现明显切换的背景下，偏股型基金的行业配置也呈现出一定的高低切换，主要增配银行、化工、医药生物、电子行业，减配电气设备、非银金融、家用电器等行业。在市场判断方面，今年宏观层面导致的“业绩上”、“估值下”的大环境，使市场更容易形成震荡市。而阶段性看，股票供需的缩量特征和资本市场监管政策对防风险、资本市场平稳运行等多目标的兼顾，也有利于资本市场的平稳阶段形成，因此延续此前对资本市场震荡市的判断。\n//5月配置方向在哪？  //\n国盛证券投资策略张启尧分析认为，今年市场的主要矛盾在于经济复苏的持续性，后面可能分为两种情形：1）如果经济持续不达预期，尤其是海外经济复苏动力不达预期，对国内出口和制造业的拉动弱化。在此种情形下，货币政策有望出现由紧转松的变化，更快带动市场风格转向受益分母端驱动的科技成长和核心资产等板块；2）若后续经济复苏维持较强动能，PPI持续处于高位，企业盈利尤其是中上游企业维持高景气。在此种情形下，则周期板块有望再次迎来修复。但当前来看，宏观数据和市场预期都存在较大分歧，需要更多的时间和证据判断后续的经济走势。因此，阶段性市场仍将处于自下而上精选结构的窗口。变局点要到6、7月经济的线索更加明朗之后再出现。\n渤海证券分析师宋亦威、严佩佩分析认为，配置方面，继续推荐估值低位及情绪低位的板块，建议关注计算机、通信、银行、房地产、交运板块。上述板块更多是基于阶段性防御的战术思想，而从更长期的战略视野看，要回到构建以国内大循环为主体的目标上来，解决长期卡脖子的问题和锻造技术长板，是未来经济社会资源的首要投入方向，对于科技（包括芯片、高端装备制造、生物医药、智能驾驶等）、碳中和（光伏、风电、新能源车等）、军工等领域，关注估值是否已回归到合理水平，抱着更长期的视角进行配置机会的再判断。\n银河证券研究所统计了2011年至2020年各行业板块5月份涨跌幅，数据显示，过去十年中食品饮料和家用电器板块在5月上涨次数最多，为8次；其中食品饮料板块在过去十年中有3次位居5月行业涨幅榜首。\n整体来看，家用电器、食品饮料等消费类行业“Sell in May”效应表现较弱。在部分年份，食品饮料板块成为普跌行情中的避风港。浙商证券表示，5月份市场风格转向防御，家电、食品饮料、医药等上涨概率居前。此外，“五一”假期背景下，休闲服务上涨概率也居前。\n\n招银国际策略报告则指出，在消化了通胀和债券孳息率上升以及紧缩银根的风险之后，预计香港股市情绪将逐渐好转。展望2021年下半年，预计成长股将再次跑赢周期股。我们对科技板块亦乐观。\n避免上游资源股。大宗商品受益于经济复苏及能源和金属价格上涨，但是我们认为股价可能已经完全反映了利好因素。供应瓶颈迟早会得到解决。","news_type":1,"symbols_score_info":{"YMmain":0.9,"000001.SH":0.9,"DXD":0.9,".DJI":0.9,"DOG":0.9,"SDOW":0.9,"HGmain":0.9,"DDM":0.9,"DJX":0.9,"UDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1295,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"content":"[smile] [smile] [smile]","text":"[smile] [smile] [smile]","html":"[smile] [smile] [smile]"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837322111,"gmtCreate":1629858545033,"gmtModify":1676530154125,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/837322111","repostId":"2162387390","repostType":4,"repost":{"id":"2162387390","kind":"highlight","pubTimestamp":1629858360,"share":"https://ttm.financial/m/news/2162387390?lang=en_US&edition=fundamental","pubTime":"2021-08-25 10:26","market":"us","language":"zh","title":"After buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=2162387390","media":"华尔街见闻","summary":"几乎已经清仓中概股的ARK基金，本周开始出手抄底买入京东股票，该基金创始人“木头姐”最新表态称：对中国并不悲观。\nArk Investment创始人、有科技股女股神之称的Cathie Wood周二在接","content":"<p>ARK Fund, which has almost completely liquidated its holdings in Chinese concept stocks, began buying on dips this week.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Regarding stocks, the fund's founder, \"Sister Wood,\" recently stated that he is not pessimistic about China.</p><p>Cathie Wood, founder of Ark Investment and known as the tech stock guru, said in an interview with Bloomberg on Tuesday:</p><p><b>“In the long run, I am not pessimistic about China because I think they are a very entrepreneurial society.”</b>Wood stated that the Chinese government is developing more regulations, but its goal is not to hinder growth and progress.</p><p>The latest data shows that ARK's automated &<a href=\"https://laohu8.com/S/300024\">Robot</a>The Technology ETF (ARKQ) bought more than 160,000 shares of JD.com ADRs on Monday.<b>This reversed the continuous sell-off trend since the end of July.</b></p><p><img src=\"https://static.tigerbbs.com/ba01ecec77377314f0598c9caadf2456\" tg-width=\"1118\" tg-height=\"480\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As of Tuesday, ARKQ held $86.17 million worth of JD.com stock, representing 3.22% of its holdings in the ETF, making it its ninth largest holding.</p><p><img src=\"https://static.tigerbbs.com/f3dccaf72955102a69b8a5080d87c3db\" tg-width=\"1107\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Since the beginning of the year, JD.com's stock has fallen by nearly 13%. JD.com's stock price rebounded strongly after releasing strong earnings reports on Monday, surging 14% overnight.<b>ARKQ also bought the dip after JD.com released its impressive financial report.</b></p><p><img src=\"https://static.tigerbbs.com/d796d9299aa03662c774ddd14756d6c0\" tg-width=\"688\" tg-height=\"388\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As previously mentioned by Wall Street Insights, financial reports showed that JD.com's revenue in the second quarter was 253.8 billion yuan, exceeding market expectations of 244.026 billion yuan, representing a year-on-year increase of 26.23%. Adjusted earnings per ADS for the second quarter were RMB 2.90, exceeding market expectations of RMB 2.12;</p><p>In terms of active users, as of June 30, 2021, JD.com's active purchasing users reached 532 million in the past 12 months, exceeding the market expectation of 520.9 million, a net increase of 115 million compared with the same period last year, and a single-quarter increase of 32 million, setting a new record.</p><p>It has been a tumultuous year for Wood and Ark. In 2020, riding the wave of a bull market in US tech stocks, ARKK's flagship fund achieved an astonishing return of 149%.</p><p><b>However, since the beginning of 2021, with the correction of technology stocks, ARKK's performance has been sluggish, with a cumulative decline of 2.9% since the beginning of the year. It was once subject to large-scale redemptions by investors and was eagerly shorted by hedge funds.</b></p><p><img src=\"https://static.tigerbbs.com/10a0e581ee3758d2aa1dfdc00b1114d3\" tg-width=\"720\" tg-height=\"412\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAfter buying JD.com at rock-bottom prices, \"Sister Wood\" stated that she is not pessimistic about Chinese concept stocks.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-25 10:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>ARK Fund, which has almost completely liquidated its holdings in Chinese concept stocks, began buying on dips this week.<a href=\"https://laohu8.com/S/JD\">JD.com</a>Regarding stocks, the fund's founder, \"Sister Wood,\" recently stated that he is not pessimistic about China.</p><p>Cathie Wood, founder of Ark Investment and known as the tech stock guru, said in an interview with Bloomberg on Tuesday:</p><p><b>“In the long run, I am not pessimistic about China because I think they are a very entrepreneurial society.”</b>Wood stated that the Chinese government is developing more regulations, but its goal is not to hinder growth and progress.</p><p>The latest data shows that ARK's automated &<a href=\"https://laohu8.com/S/300024\">Robot</a>The Technology ETF (ARKQ) bought more than 160,000 shares of JD.com ADRs on Monday.<b>This reversed the continuous sell-off trend since the end of July.</b></p><p><img src=\"https://static.tigerbbs.com/ba01ecec77377314f0598c9caadf2456\" tg-width=\"1118\" tg-height=\"480\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As of Tuesday, ARKQ held $86.17 million worth of JD.com stock, representing 3.22% of its holdings in the ETF, making it its ninth largest holding.</p><p><img src=\"https://static.tigerbbs.com/f3dccaf72955102a69b8a5080d87c3db\" tg-width=\"1107\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Since the beginning of the year, JD.com's stock has fallen by nearly 13%. JD.com's stock price rebounded strongly after releasing strong earnings reports on Monday, surging 14% overnight.<b>ARKQ also bought the dip after JD.com released its impressive financial report.</b></p><p><img src=\"https://static.tigerbbs.com/d796d9299aa03662c774ddd14756d6c0\" tg-width=\"688\" tg-height=\"388\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>As previously mentioned by Wall Street Insights, financial reports showed that JD.com's revenue in the second quarter was 253.8 billion yuan, exceeding market expectations of 244.026 billion yuan, representing a year-on-year increase of 26.23%. Adjusted earnings per ADS for the second quarter were RMB 2.90, exceeding market expectations of RMB 2.12;</p><p>In terms of active users, as of June 30, 2021, JD.com's active purchasing users reached 532 million in the past 12 months, exceeding the market expectation of 520.9 million, a net increase of 115 million compared with the same period last year, and a single-quarter increase of 32 million, setting a new record.</p><p>It has been a tumultuous year for Wood and Ark. In 2020, riding the wave of a bull market in US tech stocks, ARKK's flagship fund achieved an astonishing return of 149%.</p><p><b>However, since the beginning of 2021, with the correction of technology stocks, ARKK's performance has been sluggish, with a cumulative decline of 2.9% since the beginning of the year. It was once subject to large-scale redemptions by investors and was eagerly shorted by hedge funds.</b></p><p><img src=\"https://static.tigerbbs.com/10a0e581ee3758d2aa1dfdc00b1114d3\" tg-width=\"720\" tg-height=\"412\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3638794\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c318bcd91a109139b7d70c76c30bb154","relate_stocks":{"09618":"京东集团-SW","ARKF":"ARK Fintech Innovation ETF","JD":"京东"},"source_url":"https://wallstreetcn.com/articles/3638794","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162387390","content_text":"几乎已经清仓中概股的ARK基金，本周开始出手抄底买入京东股票，该基金创始人“木头姐”最新表态称：对中国并不悲观。\nArk Investment创始人、有科技股女股神之称的Cathie Wood周二在接受彭博采访中表示：\n\n“从长远来看，我对中国并不悲观，因为我认为他们是一个非常具有创业精神的社会。”\n\nWood称，中国政府正在制定更多的规章制度，但政府的目的并不想阻止增长和进步。\n最新披露的数据显示，ARK旗下的自动&机器人技术ETF (ARKQ)于周一买入了超过16万股的京东ADR，扭转了7月底以来连续抛售的态势。\n\n截至周二，ARKQ持有8617万美元的京东股票，在该ETF中的持仓占比为3.22%，为其第九大持仓。\n\n年初至今，京东股票累计下跌了近13%。在周一公布了强劲财报后，京东股价强势反弹，隔夜大涨14%。ARKQ也是在京东公布亮眼财报后进行了抄底。\n\n华尔街见闻此前提及，财报数据显示，京东第二季度营收2538亿元，超市场预期2440.26亿元，同比增长26.23%；第二季度调整后每ADS收益2.90元，超市场预期的2.12元；\n在活跃用户方面， 截至2021年6月30日，京东过去12个月的活跃购买用户数达到5.32亿，超市场预估的5.209亿，较去年同期净增了1.15亿，单季新增3200万创下历史最高增量。\n对Wood和Ark来说，过去是跌宕起伏的一年。2020年在美国科技股大牛市的东风下，方舟旗舰基金ARKK取得了149%的惊人回报。\n但进入2021年来，随着科技股回调，ARKK表现萎靡，今年以来累计下跌2.9%，一度遭遇投资者大举赎回，并被对冲基金争相做空。","news_type":1,"symbols_score_info":{"09618":0.9,"JD":0.9,"ARKF":0.9}},"isVote":1,"tweetType":1,"viewCount":5350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173980676,"gmtCreate":1626599094395,"gmtModify":1703762216189,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"&nbsp;haha","listText":"&nbsp;haha","text":"haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/173980676","repostId":"1172207687","repostType":4,"isVote":1,"tweetType":1,"viewCount":1630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144573333,"gmtCreate":1626307981622,"gmtModify":1703757472971,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Okok&nbsp;","listText":"Okok&nbsp;","text":"Okok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/144573333","repostId":"1170720172","repostType":4,"repost":{"id":"1170720172","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626302587,"share":"https://ttm.financial/m/news/1170720172?lang=en_US&edition=fundamental","pubTime":"2021-07-15 06:43","market":"us","language":"zh","title":"Powell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives","url":"https://stock-news.laohu8.com/highlight/detail?id=1170720172","media":"老虎资讯综合","summary":"美联储主席鲍威尔周三在众议院听证会上作半年度货币政策报告时表示，美国经济复苏还没有达到可以开始收缩资产购买规模的程度，补充称未来几个月通胀率可能会保持较高水平，然后和缓下来。关于央行数字货币（CBDC","content":"<p>Federal Reserve Chairman Jerome Powell said in his semi-annual monetary policy report at a House hearing on Wednesday that the U.S. economic recovery has not yet reached a point where asset purchases can begin to taper, adding that inflation is likely to remain high in the coming months before easing. Regarding central bank digital currencies (CBDCs), Powell expects the Federal Reserve to release a report on central bank digital currencies in early September, which will explain the pros and cons of CBDCs.</p><p>The following are the main points of Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report to the House Financial Services Committee:</p><p><b>I. US Economy/Inflation:</b></p><p>① The latest inflation data is higher than expected, with the inflation rate currently much higher than 2%. If inflation expectations continue to be higher than 2%, the Federal Reserve will take action.</p><p>② Monetary policy should remain highly loose, and one of the conditions for rate hike is that the economy is within the range of full employment.</p><p>③ At some point, if inflation data does not decline, the Federal Reserve's description of inflation will \"reverse\".</p><p>④ Federal Reserve uncertainty<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>The inflation is \"temporary,\" but it is still believed to be true.</p><p>⑤ The issue of asset purchases will continue to be discussed at the July FOMC meeting.</p><p>⑥ It was reiterated that the Federal Reserve will provide notice before it begins tapering its bond purchases. ⑦ Investing in good infrastructure can increase economic potential.</p><p><b>II. Job Market:</b></p><p>①It is too early to say whether increasing unemployment benefits will hinder employment.</p><p>② The factors hindering employment will pass, and there will be strong employment growth.</p><p>③ By maintaining patience with employment issues, the unemployment rate will be able to recover to 3.5%.</p><p><b>III. Digital Currency:</b></p><p>① A digital currency report is expected to be released in early September.</p><p>② The risks faced by digital currencies are real.</p><p>③ Stablecoins need an appropriate regulatory framework, and they need to be regulated in a manner similar to money markets and bank deposits.</p><p>④ Decisions regarding digital currencies are being accelerated.</p><p>⑤ Central bank digital currencies may eliminate the need for stablecoins and cryptocurrencies, which is a strong argument in support of this.</p><p><b>IV. US Real Estate:</b></p><p>① Housing prices in the United States are rising at a very high rate.</p><p>② Supply and demand factors lead to rising housing prices.</p><p>③ The real estate market will be a factor in the Federal Reserve's discussion of the tapering plan and its composition.</p><p>④ Even if mortgage rates rise, there will still be a large demand for housing.</p><p><b>V. Others:</b></p><p>① The global semiconductor supply shortage has hindered automobile production/output until 2021.</p><p>② The Federal Reserve hopes that financial institutions will be aware of climate risks.</p><p>③ The Federal Reserve does not face the risk of losing its reserve currency status.</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>Powell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell's summary of key points at the semi-annual monetary policy hearing in the U.S. House of Representatives\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-15 06:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Federal Reserve Chairman Jerome Powell said in his semi-annual monetary policy report at a House hearing on Wednesday that the U.S. economic recovery has not yet reached a point where asset purchases can begin to taper, adding that inflation is likely to remain high in the coming months before easing. Regarding central bank digital currencies (CBDCs), Powell expects the Federal Reserve to release a report on central bank digital currencies in early September, which will explain the pros and cons of CBDCs.</p><p>The following are the main points of Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report to the House Financial Services Committee:</p><p><b>I. US Economy/Inflation:</b></p><p>① The latest inflation data is higher than expected, with the inflation rate currently much higher than 2%. If inflation expectations continue to be higher than 2%, the Federal Reserve will take action.</p><p>② Monetary policy should remain highly loose, and one of the conditions for rate hike is that the economy is within the range of full employment.</p><p>③ At some point, if inflation data does not decline, the Federal Reserve's description of inflation will \"reverse\".</p><p>④ Federal Reserve uncertainty<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>The inflation is \"temporary,\" but it is still believed to be true.</p><p>⑤ The issue of asset purchases will continue to be discussed at the July FOMC meeting.</p><p>⑥ It was reiterated that the Federal Reserve will provide notice before it begins tapering its bond purchases. ⑦ Investing in good infrastructure can increase economic potential.</p><p><b>II. Job Market:</b></p><p>①It is too early to say whether increasing unemployment benefits will hinder employment.</p><p>② The factors hindering employment will pass, and there will be strong employment growth.</p><p>③ By maintaining patience with employment issues, the unemployment rate will be able to recover to 3.5%.</p><p><b>III. Digital Currency:</b></p><p>① A digital currency report is expected to be released in early September.</p><p>② The risks faced by digital currencies are real.</p><p>③ Stablecoins need an appropriate regulatory framework, and they need to be regulated in a manner similar to money markets and bank deposits.</p><p>④ Decisions regarding digital currencies are being accelerated.</p><p>⑤ Central bank digital currencies may eliminate the need for stablecoins and cryptocurrencies, which is a strong argument in support of this.</p><p><b>IV. US Real Estate:</b></p><p>① Housing prices in the United States are rising at a very high rate.</p><p>② Supply and demand factors lead to rising housing prices.</p><p>③ The real estate market will be a factor in the Federal Reserve's discussion of the tapering plan and its composition.</p><p>④ Even if mortgage rates rise, there will still be a large demand for housing.</p><p><b>V. Others:</b></p><p>① The global semiconductor supply shortage has hindered automobile production/output until 2021.</p><p>② The Federal Reserve hopes that financial institutions will be aware of climate risks.</p><p>③ The Federal Reserve does not face the risk of losing its reserve currency status.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/499d73ece33aa33a20d67cc087f64953","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","UPRO":"三倍做多标普500ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","DOG":"道指ETF-ProShares做空","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","IVV":"标普500ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","SH":"做空标普500-Proshares","DJX":"1/100道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170720172","content_text":"美联储主席鲍威尔周三在众议院听证会上作半年度货币政策报告时表示，美国经济复苏还没有达到可以开始收缩资产购买规模的程度，补充称未来几个月通胀率可能会保持较高水平，然后和缓下来。关于央行数字货币（CBDC）方面，鲍威尔预计美联储将在9月初发布央行数字货币报告，届时将阐释CBDC的利弊。\n以下为美联储主席鲍威尔在众议院金融服务委员会就半年度货币政策报告主要内容：\n一、美国经济/通胀：\n①最新的通胀数据比预期的要高，通胀率目前远高于2%，如果通胀预期持续高于2%，美联储就会采取行动。\n②货币政策仍应高度宽松，加息的条件之一是经济处于充分就业的范围内。\n③在某个时候，如果通胀数据不下降，美联储对通胀的描述将会“反转”。\n④美联储不确定高通胀是“暂时的”，但仍然相信这是事实。\n⑤将在7月FOMC会议上继续讨论资产购买问题。\n⑥重申美联储将在开始缩减购债规模前给出通知。⑦对良好的基础设施的投资可以增加经济潜力。\n二、就业市场：\n①现在说增加失业救济金是否会阻碍就业还为时尚早。\n②阻碍就业的因素将会过去，将会有强劲的就业增长。\n③对就业问题保持耐心，将能够恢复到3.5%的失业率。\n三、数字货币：\n①预计9月初将发布数字货币报告。\n②数字货币面临的风险是真实存在的。\n③稳定币需要一个适当的监管框架，稳定币需要以类似货币市场和银行存款的方式进行监管。\n④正在加快作出关于数字货币的决策。\n⑤央行数字货币可能会排除对稳定币和加密货币的需求，这是支持它的有力论据。\n四、美国房地产：\n①美国的房价正在以很高的速度上涨。\n②供需原因导致住房价格上涨。\n③房地产市场将成为美联储讨论缩债计划及其组成的一个因素。\n④即使抵押贷款利率上升，仍然会有大量的住房需求。\n五、其他：\n①全球性的半导体供应短缺问题已经妨碍到2021年的汽车生产/产量。\n②美联储希望金融机构意识到气候风险。\n③美联储并没有面临失去其储备货币地位的风险。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,".DJI":0.9,"PSQ":0.9,"SPY":0.9,"ESmain":0.9,"SH":0.9,"SDS":0.9,"QLD":0.9,"SPXU":0.9,"IVV":0.9,"SDOW":0.9,"DJX":0.9,"DOG":0.9,"SSO":0.9,".IXIC":0.9,"UPRO":0.9,"SQQQ":0.9,"DXD":0.9,"UDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889878119,"gmtCreate":1631143487231,"gmtModify":1676530476868,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Yy","listText":"Yy","text":"Yy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/889878119","repostId":"2165994363","repostType":4,"repost":{"id":"2165994363","kind":"highlight","pubTimestamp":1631085017,"share":"https://ttm.financial/m/news/2165994363?lang=en_US&edition=fundamental","pubTime":"2021-09-08 15:10","market":"hk","language":"zh","title":"Multiple indicators in the United States are sounding the alarm!","url":"https://stock-news.laohu8.com/highlight/detail?id=2165994363","media":"华尔街见闻","summary":"美国人曾憧憬，这个夏天经济能回归常态，上班族回到办公室，孩子们重返校园，街角的咖啡店再次开业。但一切事与愿违，随着疫情复燃，复苏在8月踩下了急刹车。\n上周五，让人大跌眼镜的非农就业数据带来了最直接的报","content":"<p>Americans had hoped that this summer the economy would return to normal, with office workers returning to the office, children returning to school, and street corner coffee shops reopening. But things didn't go as planned. With the resurgence of the epidemic, the recovery came to a sudden halt in August.</p><p><b>Last Friday, the surprising non-farm payrolls data provided the most direct warning signal.</b>U.S. non-farm payrolls increased by only 235,000 in August, a significant miss the market expectation of 733,000, down from about 1 million in June and July, marking the smallest increase since January 2021.</p><p>In August, the University of Michigan consumer confidence index also fell to its lowest level in 10 years, as the spreading Delta variant of the virus and rising inflation worried Americans.</p><p>According to data released by Johns Hopkins University, as of 6 p.m. Eastern Time on September 7, 2021, the United States had reported 40,238,083 confirmed cases of COVID-19 and 650,345 deaths.</p><p><b>Over the past week, the United States has averaged more than 161,000 new cases per day, 1,560 new deaths, and an average of more than 102,000 hospitalizations per day, only slightly lower than the peak of last winter.</b></p><p><img src=\"https://static.tigerbbs.com/f7c5b880f937edae73659acd8fa2e181\" tg-width=\"731\" tg-height=\"455\" referrerpolicy=\"no-referrer\"></p><p>(Image source: Worldometers)</p><p><h2>\"Uncertainty and anxiety are back.\"</h2>Amid the resurgence of the pandemic, offices and schools in the United States have postponed their reopening, and travel and performance plans have been canceled.</p><p><b>Starting in August, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Companies of all sizes have abandoned plans to reopen their offices, with some even postponing the return date until 2022.</b></p><p>Official data shows that by mid-July, the number of tourists visiting Hawaii had recovered to near pre-pandemic levels, down only about 10% from the same period in 2019. However, the pace slowed down starting in August, and in the last seven days of August, the average number of daily tourist arrivals decreased by 34% compared to 2019.</p><p>Data from market research firm TOP shows that cinema attendance dropped by more than half at the end of August compared to the peak of the pandemic in mid-July. Paramount Pictures has delayed the release of Top Gun: Makeover and Mission: Impossible 7.</p><p>Meanwhile, many schools in the United States have closed or resumed online classes.</p><p>The Wall Street Journal quoted Columbia Business School economist Stephan Meier as saying that the reopening of schools should have been an important moment for the economy. With about a quarter of households having school-aged children, reliable childcare can get many Americans, especially women, back into the workforce. But for now, the Delta variant and the lack of a vaccine for children under 12 may make some parents reluctant to leave home to work.</p><p><b>Meier stated, \"The uncertainty and anxiety we experienced last year are back, and this uncertainty is enough to suppress labor supply.\"</b></p><p><h2>Institutions have lowered their US economic growth forecasts.</h2>Economists believe the Delta variant will not push the United States back into recession, but the loss of growth momentum could prolong the recovery of millions of jobs lost during the pandemic, keep many job markets on the sidelines, and discourage businesses from investing amid new uncertainties.</p><p>In the report released this Monday,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Goldman Sachs has lowered its U.S. GDP growth forecast for this year to 5.7% and raised its unemployment rate forecast from 4.1% to 4.2%. This marks the third time in less than three months that Goldman Sachs has lowered its U.S. GDP forecast for this year.</p><p>In explaining why they lowered their forecasts this week, Goldman Sachs economists cited several key factors.<b>It is expected that due to the spread of the Delta variant of the virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, resulting in a more severe consumption situation than previously anticipated.</b></p><p>\"There appear to be far more obstacles to strong consumption growth in the future: the Delta variant is already putting pressure on growth in the third quarter, fiscal stimulus is decreasing, and the recovery in the service sector is slowing down. These will all be negative factors in the medium term.\" Earlier this month,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley said at the time,<b>The downward expectation is mainly due to the fact that the momentum of economic growth has been released ahead of schedule, the government's stimulus spending has reduced its economic impact, and supply chain bottlenecks continue to drag down the economy, resulting in a decrease in consumer spending on large durable goods such as automobiles.</b></p><p><h2>US stocks have fallen for two consecutive days; a bigger test lies ahead.</h2>On Tuesday, the Dow Jones Industrial Average fell more than 200 points, hitting a new closing low since August 19 and its biggest closing drop since August 18. The S&P 500 closed down 0.34% at 4520.03 points, a new low since August 27.</p><p>This marks the second consecutive day of declines for the Dow Jones Industrial Average and the S&P 500, following the release of last Friday's far-below-expected non-farm payroll report. Even the three-day long weekend, including Monday, failed to mitigate the decline in most US stock sectors. Both US stock and Treasury prices fell during the session, Treasury Bond yields rose, and the benchmark 10-year Treasury yield hit its highest level since mid-July.</p><p>Analysts point out that amid the rampant Delta variant virus, the market is reassessing the prospects for U.S. economic growth and its impact on corporate profits.</p><p><b>As U.S. fiscal stimulus measures gradually withdraw, the U.S. economic recovery will face further tests.</b></p><p>This week, more than 7.5 million Americans will lose an additional $300 a week in unemployment benefits during the pandemic.<b>In addition to the cessation of pandemic subsidies, risk factors such as tax increases and debt increases have also brought additional challenges to the US economy.</b></p><p>Wall Street Insights previously mentioned that although the U.S. Congress seems likely to pass an infrastructure bill this fall, the economic impact of the recent stimulus package is relatively limited compared to the multiple rounds of stimulus plans launched since March 2020.</p><p>The U.S. Congress may vote to raise taxes on businesses and high-income individuals, which would offset the boost from spending—another short-term risk facing the market.</p><p>Meanwhile, US stocks may also be affected by the debt ceiling increase this fall. The U.S. Congress needs to raise government funds later this month by raising the debt ceiling, as well as a temporary spending bill to avoid a Washington shutdown in October.</p>","source":"wallstreetcn_api","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>Multiple indicators in the United States are sounding the alarm!</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMultiple indicators in the United States are sounding the alarm!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-09-08 15:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Americans had hoped that this summer the economy would return to normal, with office workers returning to the office, children returning to school, and street corner coffee shops reopening. But things didn't go as planned. With the resurgence of the epidemic, the recovery came to a sudden halt in August.</p><p><b>Last Friday, the surprising non-farm payrolls data provided the most direct warning signal.</b>U.S. non-farm payrolls increased by only 235,000 in August, a significant miss the market expectation of 733,000, down from about 1 million in June and July, marking the smallest increase since January 2021.</p><p>In August, the University of Michigan consumer confidence index also fell to its lowest level in 10 years, as the spreading Delta variant of the virus and rising inflation worried Americans.</p><p>According to data released by Johns Hopkins University, as of 6 p.m. Eastern Time on September 7, 2021, the United States had reported 40,238,083 confirmed cases of COVID-19 and 650,345 deaths.</p><p><b>Over the past week, the United States has averaged more than 161,000 new cases per day, 1,560 new deaths, and an average of more than 102,000 hospitalizations per day, only slightly lower than the peak of last winter.</b></p><p><img src=\"https://static.tigerbbs.com/f7c5b880f937edae73659acd8fa2e181\" tg-width=\"731\" tg-height=\"455\" referrerpolicy=\"no-referrer\"></p><p>(Image source: Worldometers)</p><p><h2>\"Uncertainty and anxiety are back.\"</h2>Amid the resurgence of the pandemic, offices and schools in the United States have postponed their reopening, and travel and performance plans have been canceled.</p><p><b>Starting in August, including<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Companies of all sizes have abandoned plans to reopen their offices, with some even postponing the return date until 2022.</b></p><p>Official data shows that by mid-July, the number of tourists visiting Hawaii had recovered to near pre-pandemic levels, down only about 10% from the same period in 2019. However, the pace slowed down starting in August, and in the last seven days of August, the average number of daily tourist arrivals decreased by 34% compared to 2019.</p><p>Data from market research firm TOP shows that cinema attendance dropped by more than half at the end of August compared to the peak of the pandemic in mid-July. Paramount Pictures has delayed the release of Top Gun: Makeover and Mission: Impossible 7.</p><p>Meanwhile, many schools in the United States have closed or resumed online classes.</p><p>The Wall Street Journal quoted Columbia Business School economist Stephan Meier as saying that the reopening of schools should have been an important moment for the economy. With about a quarter of households having school-aged children, reliable childcare can get many Americans, especially women, back into the workforce. But for now, the Delta variant and the lack of a vaccine for children under 12 may make some parents reluctant to leave home to work.</p><p><b>Meier stated, \"The uncertainty and anxiety we experienced last year are back, and this uncertainty is enough to suppress labor supply.\"</b></p><p><h2>Institutions have lowered their US economic growth forecasts.</h2>Economists believe the Delta variant will not push the United States back into recession, but the loss of growth momentum could prolong the recovery of millions of jobs lost during the pandemic, keep many job markets on the sidelines, and discourage businesses from investing amid new uncertainties.</p><p>In the report released this Monday,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Goldman Sachs has lowered its U.S. GDP growth forecast for this year to 5.7% and raised its unemployment rate forecast from 4.1% to 4.2%. This marks the third time in less than three months that Goldman Sachs has lowered its U.S. GDP forecast for this year.</p><p>In explaining why they lowered their forecasts this week, Goldman Sachs economists cited several key factors.<b>It is expected that due to the spread of the Delta variant of the virus, weakening government fiscal support, and a shift in demand from goods to services, U.S. consumers may reduce spending, resulting in a more severe consumption situation than previously anticipated.</b></p><p>\"There appear to be far more obstacles to strong consumption growth in the future: the Delta variant is already putting pressure on growth in the third quarter, fiscal stimulus is decreasing, and the recovery in the service sector is slowing down. These will all be negative factors in the medium term.\" Earlier this month,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered its third-quarter US GDP forecast, from 6.5% to only 2.9%, while maintaining its fourth-quarter GDP forecast at 6.7%. After lowering its third-quarter GDP forecast, Morgan Stanley's full-year U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast this week.</p><p>Morgan Stanley said at the time,<b>The downward expectation is mainly due to the fact that the momentum of economic growth has been released ahead of schedule, the government's stimulus spending has reduced its economic impact, and supply chain bottlenecks continue to drag down the economy, resulting in a decrease in consumer spending on large durable goods such as automobiles.</b></p><p><h2>US stocks have fallen for two consecutive days; a bigger test lies ahead.</h2>On Tuesday, the Dow Jones Industrial Average fell more than 200 points, hitting a new closing low since August 19 and its biggest closing drop since August 18. The S&P 500 closed down 0.34% at 4520.03 points, a new low since August 27.</p><p>This marks the second consecutive day of declines for the Dow Jones Industrial Average and the S&P 500, following the release of last Friday's far-below-expected non-farm payroll report. Even the three-day long weekend, including Monday, failed to mitigate the decline in most US stock sectors. Both US stock and Treasury prices fell during the session, Treasury Bond yields rose, and the benchmark 10-year Treasury yield hit its highest level since mid-July.</p><p>Analysts point out that amid the rampant Delta variant virus, the market is reassessing the prospects for U.S. economic growth and its impact on corporate profits.</p><p><b>As U.S. fiscal stimulus measures gradually withdraw, the U.S. economic recovery will face further tests.</b></p><p>This week, more than 7.5 million Americans will lose an additional $300 a week in unemployment benefits during the pandemic.<b>In addition to the cessation of pandemic subsidies, risk factors such as tax increases and debt increases have also brought additional challenges to the US economy.</b></p><p>Wall Street Insights previously mentioned that although the U.S. Congress seems likely to pass an infrastructure bill this fall, the economic impact of the recent stimulus package is relatively limited compared to the multiple rounds of stimulus plans launched since March 2020.</p><p>The U.S. Congress may vote to raise taxes on businesses and high-income individuals, which would offset the boost from spending—another short-term risk facing the market.</p><p>Meanwhile, US stocks may also be affected by the debt ceiling increase this fall. The U.S. Congress needs to raise government funds later this month by raising the debt ceiling, as well as a temporary spending bill to avoid a Washington shutdown in October.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3639891\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/627bc890436e46f74a0fe8143398a725","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF华安","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GDX":"黄金矿业ETF-VanEck","IAU":"黄金信托ETF-iShares","GLD":"黄金ETF-SPDR","DUST":"二倍做空黄金矿业指数ETF-Direxion"},"source_url":"https://wallstreetcn.com/articles/3639891","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165994363","content_text":"美国人曾憧憬，这个夏天经济能回归常态，上班族回到办公室，孩子们重返校园，街角的咖啡店再次开业。但一切事与愿违，随着疫情复燃，复苏在8月踩下了急刹车。\n上周五，让人大跌眼镜的非农就业数据带来了最直接的报警信号。美国8月非农就业人口仅增加23.5万人，大幅不及市场预期的73.3万人，低于6月和7月的约100万个，创2021年1月以来最小增幅。\n8月，密歇根大学消费者信心指数也跌至10年来的最低水平，不断蔓延的Delta变种病毒和持续上升的通胀令美国人感到担忧。\n据美国约翰斯·霍普金斯大学发布的数据，截至美国东部时间2021年9月7日下午6点，全美共报告新冠肺炎确诊40238083例，死亡650345例。\n过去一周，美国平均每天新增病例超过 161000 例，新增死亡病例高达 1560 例，平均每天住院人数超过 102000 人，仅比去年冬天的峰值略低。\n\n(图片来源：Worldometers)\n“不确定性和焦虑感又回来了”\n疫情复燃之下，美国办公室和学校推迟开放，旅行和演出计划纷纷取消。\n从8月份开始，包括苹果、亚马逊在内的大小的公司都放弃了重新开放办公室的计划，一些公司甚至将返回日期推迟到2022年。\n官方数据显示，7月中旬，前往夏威夷的游客人数已经恢复至接近疫情前的水平，仅比2019年同期下降了约10%。但从8月开始，速度有所放缓，在8月的最后7天，日均游客抵达数量比2019年下降了34%。\n市场研究公司TOP的数据显示，与7月中旬的疫情高峰相比，8月底的影院客流量下降了一半以上。派拉蒙影业公司推迟了《壮志凌云:特立独行》和《碟中谍7》的上映。\n与此同时，美国许多学校已经关闭或恢复线上授课。\n华尔街日报援引哥伦比亚商学院经济学家Stephan Meier表示，学校重新开学本应是经济的一个重要时刻。大约四分之一的家庭有学龄儿童，可靠的儿童看护可以让许多美国人，尤其是女性重返工作岗位。但目前，Delta变种和缺乏针对12岁以下儿童的疫苗可能会让一些父母不愿离家工作。\nMeier称：“我们去年的不确定性和焦虑感又回来了，这种不确定性足以抑制劳动力供应。”\n机构纷纷下调美国经济增长预期\n经济学家认为，Delta变种病毒不会将美国推回衰退，但失去增长动力可能延长疫情期间失去的数百万就业岗位的复苏，令许多就业市场处于观望状态，并阻碍企业在新的不确定性下投资。\n本周一发布的报告中，高盛将今年的美国GDP预期增速降至5.7%，今年失业率预期从4.1%升至4.2%，这是不到三个月里，高盛第三次下调今年美国GDP预期。\n在本周解释为何下调预期时，高盛经济学家提到几大影响因素，预计由于变种病毒Delta肆虐、政府的财政支持在减弱，加之需求从商品转换到服务，美国消费者可能减少支出，消费形势比之前预期的更严峻：\n\n “未来消费强劲增长的阻碍看来多得多：Delta变异病毒已经在施压三季度增长，财政刺激在减少，服务业复苏放缓，这些都将是中期内的负面因素。”\n\n本月初，摩根士丹利也大幅下调了三季度美国GDP预期，从6.5%猛砍至仅2.9%，四季度GDP预期维持在6.7%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛本周调降后的全年预期增速还低。\n摩根士丹利当时称，调降预期主要由于经济增长的动力已提前释放，政府刺激性支出对经济的推动减少，加之供应链瓶颈持续拖累经济，汽车等大件耐用品的消费者支出由此减少。\n美股两连跌，更大的考验在后面\n周二，道指跌超200点，创8月19日以来收盘新低以及8月18日以来最大收盘跌幅。标普收跌0.34%，报4520.03点，创8月27日以来新低。\n这是上周五远逊预期的非农就业报告公布后，道指、标普连续两日收跌。即使是包括周一在内的三日长周末也没能缓和美股多数板块的跌势，美股和美债价格盘中齐跌，国债收益率上行，基准10年期美债收益率刷新7月中旬以来高位。\n分析指出，Delta变种病毒肆虐之下，市场正在重新评估美国经济增长前景，以及其对企业盈利的影响。\n随着美国财政刺激措施逐渐退场，美国经济复苏将面临进一步的考验。\n本周，超过750万的美国人将失去疫情时期每周300美元的额外失业救济。除了停止疫情补贴外，增税、债务上调等风险因素也给美国经济带来了额外的考验。\n华尔街见闻此前提及，尽管美国国会似乎有可能在今年秋季通过一项基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期的刺激计划经济影响相对有限。\n美国国会可能会投票决定提高对企业和高收入个人的税收，这将抵消支出带来的提振——这是市场面临的另一个短期风险。\n与此同时，美股今秋还可能受到债务上限上调的影响。美国国会需要在本月晚些时候通过提高债务上限以筹集政府资金，以及一项临时开支法案，以避免华盛顿在10月份关闭。","news_type":1,"symbols_score_info":{"159934":0.9,"518880":0.9,"SGCmain":0.9,"IAU":0.9,"MGCmain":0.9,"SGUmain":0.9,"GLD":0.9,"GDX":0.9,"DUST":0.9,"NUGT":0.9}},"isVote":1,"tweetType":1,"viewCount":6370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808540259,"gmtCreate":1627603468271,"gmtModify":1703493081827,"author":{"id":"3577440999113647","authorId":"3577440999113647","name":"YongGuang","avatar":"https://static.tigerbbs.com/44506513dddf0624d6b604740dfba888","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577440999113647","idStr":"3577440999113647"},"themes":[],"title":"","htmlText":"Kk","listText":"Kk","text":"Kk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/808540259","repostId":"1109337387","repostType":4,"repost":{"id":"1109337387","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627602763,"share":"https://ttm.financial/m/news/1109337387?lang=en_US&edition=fundamental","pubTime":"2021-07-30 07:52","market":"sh","language":"zh","title":"Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit","url":"https://stock-news.laohu8.com/highlight/detail?id=1109337387","media":"老虎资讯综合","summary":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周","content":"<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</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>Last night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning: The S&P 500 and Dow Jones Industrial Average hit new intraday highs! Chinese education stocks listed in the US have been hit\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-30 07:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: Overnight, U.S. stocks closed higher across the board, with the Dow Jones Industrial Average rising 0.44%, while Chinese concept education stocks fell again; Crude oil futures continued their upward trend, while gold futures hit a six-week high; The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy.<b>Overseas markets</b></p><p><b>1. U.S. stocks closed higher on Thursday, with the Dow Jones Composite Index hitting a new intraday high.</b></p><p>U.S. stocks closed higher on Thursday, with both the Dow Jones Industrial Average and the S&P 500 hitting record intraday highs. The U.S. second-quarter GDP data fell short of expectations, which analysts believe means the Federal Reserve will not immediately exit its easing policy. The market is focused on generally optimistic corporate earnings reports. At the close of trading, the Dow Jones Industrial Average rose 0.44% to 35,084.53 points; The Nasdaq rose 0.11% to 14,778.26 points; The S&P 500 rose 0.42% to 4,419.15.</p><p><b>2. Most popular Chinese concept stocks closed lower on Thursday: education stocks declined.<a href=\"https://laohu8.com/S/BEKE\">Seashell</a>Down more than 13%</b></p><p>Most popular Chinese concept stocks closed lower on Thursday, with education stocks falling and Beike falling more than 13%. Zuo Hui Family Trust entrusted voting rights to Beike's management. Among education stocks,<a href=\"https://laohu8.com/S/FHS\">First High School Education</a>It fell nearly 12%.<a href=\"https://laohu8.com/S/RYB\">RYB</a>It fell more than 10%.<a href=\"https://laohu8.com/S/COE\">51Talk</a>It fell more than 9%.<a href=\"https://laohu8.com/S/TAL\">TAL Education Group</a>、<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell more than 8%.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell more than 6%.<a href=\"https://laohu8.com/S/NTES\">NetEase</a>Youdao fell more than 2%.</p><p><b>3. Eurozone Economic Sentiment Index surged to a record high, and European stocks closed higher across the board.</b></p><p>European stocks continued their gains on Thursday (July 29) as investors digested a new round of major corporate earnings reports and the Federal Reserve reiterated its dovish stance. The pan-European Stoxx 600 index closed up 2.14 points, or 0.46%, at 463.84. Basic resources stocks and auto stocks led the gains, rising 2.4% and 2% respectively.</p><p><b>4. WTI and Brent crude oil futures continued their upward trend, both hitting their highest closing prices in two weeks.</b></p><p>Crude oil futures prices closed higher on Thursday, with both U.S. WTI and ICE Brent crude oil futures hitting their highest closing prices in two weeks. The previous day, U.S. government data showed that domestic crude oil, gasoline, and distillate oil inventories in the United States all declined. West Texas Intermediate (WTI) crude oil futures for September delivery on the New York Mercantile Exchange rose $1.23, or 1.7%, to settle at $73.62 a barrel.</p><p><b>5. Gold futures rose 1.7% on Wednesday to a six-week high.</b></p><p>Gold futures prices closed higher on Thursday. Despite the Federal Reserve's indication on Wednesday that the central bank may scale back its bond-buying program in the coming months and a World Gold Council report indicating a decline in gold demand, weaker-than-expected U.S. economic reports still pushed gold prices higher. Gold futures for December delivery on the New York Mercantile Exchange rose $31.20, or 1.7%, to settle at $1,835.50 an ounce.</p><p><b>International macro</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/2155718890\" target=\"_blank\"><b>Despite a surge in consumer spending, U.S. GDP growth in the second quarter remained lower than expected.</b></a></p><p>Constrained by supply chain bottlenecks, the U.S. economy grew weaker than expected in the second quarter, eclipsing one of the largest increases in consumer spending in decades. Preliminary estimates released by the U.S. Commerce Department on Thursday showed that GDP grew at an annualized rate of 6.5% in the second quarter, compared to a revised 6.3% in the first quarter. Federal government spending, residential investment, and inventories dragged down the second-quarter data.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186290\" target=\"_blank\"><b>Another signal that the US housing market may have peaked: an unexpected drop in contracted sales of existing homes in the US.</b></a></p><p>U.S. existing home sales pending transfer fell 1.9% in June compared to May, worse than expected. Analysts believe that high housing prices and limited available properties are hindering potential buyers from entering the market. Earlier this week, new home sales data for June surprised the market. All of this indicates that the U.S. housing market is showing signs of slowing down.</p><p><b>3. The US economy shrank by nearly 20% during the COVID-19 recession, a record high.</b></p><p>U.S. government data released Thursday showed that the country's economy shrank by a record 19.2% between its peak in the fourth quarter of 2019 and the second quarter of 2020, confirming that the recession caused by the COVID-19 pandemic is the worst on record. The speed of recovery from the pandemic slump is equally astonishing. According to the U.S. Bureau of Economic Analysis, the U.S. economy rebounded at a historical average rate of 18.3% from the second to the fourth quarter of 2020.</p><p><b>4. The despair of American doctors: no matter how much you shout, vaccine skeptics remain unmoved.</b></p><p>Experts say the pandemic is entering a dark new phase. Nearly half of the U.S. population refuses vaccines, does not wear masks, and views epidemic prevention restrictions as an infringement on freedom. As infections rise again, scientists and doctors are facing a maddening reality: the country has ways to control the epidemic, but a significant portion of the population refuses to accept them.</p><p><b>5. Biden calls on Congress to extend the moratorium on evictions due to the spread of the variant virus.</b></p><p>U.S. President Biden on Thursday called on Congress to extend a moratorium on landlords evicting tenants, which was set to expire on July 31, as the delta variant continues to spread across the United States. \"The President calls on Congress to immediately extend the eviction moratorium to protect these vulnerable tenants and their families,\" the White House said in a statement.</p><p><b>6. The European Central Bank released its meeting minutes, allowing the Eurozone economy to overheat.</b></p><p>On the 29th local time, the European Central Bank released the minutes of its monetary policy meeting held on the 7th and 8th of this month, the most important of which was revising the medium-term inflation target from \"close to but below 2%\" to \"2%\". This means there may be a \"transition period where inflation is slightly above the target\". However, the meeting minutes released this time did not mention the discussions within the organization, but only summarized the resolutions released on July 8.</p><p><b>Company News</b></p><p><b>1、</b><a href=\"https://laohu8.com/NW/1144019144\" target=\"_blank\"><b>Is the \"Bezos era\" coming to a disappointing end?<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Second-quarter revenue, operating profit, and guidance for next quarter were all poor.</b></a></p><p>Financial reports show that Amazon's combined net sales of products and services in the second quarter were $113.08 billion, a year-on-year increase of 27.2%, lower than the market expectation of $115.1 billion or a year-on-year increase of 29%. The company's previous official guidance was in the range of $110 billion to $116 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2155186471\" target=\"_blank\"><b>Chip shortages fuel Samsung's semiconductor business; second-quarter revenue reaches record high; plans to acquire within three years.</b></a></p><p>On Thursday, July 29 local time, South Korea's largest company<a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company released its financial results for the second quarter of 2021, ending in June. Thanks to rising memory chip prices and the rapid resumption of operations at the Austin, Texas plant, revenue hit a record high for the second quarter, and net profit increased by more than 70%.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2155218234\" target=\"_blank\"><b>Apple issues $6.5 billion in bonds to increase cash reserves for share buybacks.</b></a></p><p>Apple Inc. raised $6.5 billion in bonds in four tranches from the U.S. investment-grade bond market on Thursday, as the tech giant increasingly looks to return cash to shareholders. According to a source familiar with the matter, the longest bond issued this time is a 40-year bond, with a yield 0.92 percentage points higher than that of the US Treasury Bond. The price initially discussed was a 1.15 percentage point range.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/1176359827\" target=\"_blank\"><b>AstraZeneca begins assessing the sustainability of its vaccine business, dragging down overall performance.</b></a></p><p>According to media reports, AstraZeneca is considering the future of its COVID-19 vaccine business, and plans for the business are expected to become clearer by the end of 2021. AstraZeneca has suffered a series of setbacks in the race for a COVID-19 vaccine, prompting the company to begin evaluating its COVID-19 vaccine business. However, AstraZeneca executives emphasized that it is too early to decide the future of the business.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/1147927396\" target=\"_blank\"><b>SoftBank sold one-third of its Uber stake, partly to offset losses from its investment in Didi.</b></a></p><p>On July 29, according to foreign media reports, two sources familiar with the matter said that SoftBank will sell about one-third of its stake in ride-hailing service company Uber to partially offset losses incurred from its investment in Chinese ride-hailing service company Didi. The company plans to sell 45 million Uber shares with a 30-day lock-up period. Following the report's release, Uber's stock price fell 5% in after-hours trading.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/1174442664\" target=\"_blank\"><b>Pinterest lost users in the second quarter, causing its stock price to plummet by more than 18% in after-hours trading.</b></a></p><p>The report shows that Pinterest's revenue in the second quarter was $613 million, a 125% increase compared to $272 million in the same period last year; Net profit was $69.4 million, compared to a net loss of $100 million in the same period last year; Non-GAAP adjusted net income was $170 million, compared to an adjusted net loss of $38.4 million in the same period last year.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2155187166\" target=\"_blank\"><b>Gilead Sciences turned a profit in Q2, with total revenue increasing by 21% year-on-year.</b></a><b></b></p><p>Financial reports show that Gilead Sciences' total revenue in Q2 was $6.217 billion, a year-on-year increase of 21%; Net profit was $1.522 billion, compared to a loss of $3.339 billion in the same period last year; Diluted earnings per share were $1.21, compared with a loss of $2.66 per share in the same period last year</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109337387","content_text":"摘要：隔夜美股全线收涨，道指涨0.44%，中概教育股再度回落；原油期货延续涨势，黄金期货创6周新高；美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。\n\n海外市场\n1、美股周四收涨 道指标普创盘中新高\n美股周四收高，道指与标普500指数均创盘中历史新高。美国二季度GDP数据不及预期，分析师认为这意味着美联储不会立即退出宽松政策。市场专注于基本乐观的企业财报。截止收盘，道指涨0.44%，报35084.53点；纳指涨0.11%，报14778.26点；标普500指数涨0.42%，报4419.15点。\n2、热门中概股周四收盘多数走低：教育股回落 贝壳跌超13%\n热门中概股周四收盘多数走低，教育股回落，贝壳跌超13%，左晖家族信托将投票权委托给贝壳管理层。教育股中，第一高中教育跌近12%，红黄蓝跌超10%，51Talk跌超9%，好未来、高途跌超8%，新东方跌超6%，网易有道跌超2%。\n3、欧元区经济景气指数飙升至历史新高 欧洲股市全线收高\n因投资者消化了新一轮主要企业财报，且美联储重申鸽派政策立场，欧股周四(7月29日)延续了此前交易日的涨势。泛欧斯托克600指数收盘上涨2.14点，涨幅0.46%，报463.84点。其中基本资源股和汽车股领涨，分别上涨2.4%和2%。\n4、WTI与布伦特原油期货延续涨势 均创两周来最高收盘价\n原油期货价格周四收高，美国WTI与ICE布伦特原油期货均创两周来的最高收盘价。此前一天美国政府数据显示美国国内原油、汽油与馏分油库存悉数下降。纽约商品交易所9月份交割的西德州中质原油(WTI)期货价格上涨1.23美元，涨幅1.7%，收于每桶73.62美元。\n5、黄金期货周三上涨1.7% 创6周新高\n黄金期货价格周四收高。尽管美联储周三表示央行可能在未来几个月缩减购债计划，且世界黄金协会报告指出黄金需求下降，但弱于预期的美国经济报告仍推动金价走高。纽约商品交易所12月交割的黄金期货价格上涨31.20美元，涨幅1.7%，收于每盎司1835.50美元。\n国际宏观\n1、尽管消费者支出激增 美国第二季度GDP增长仍低于预期\n受供应链瓶颈的约束，美国第二季度经济增长逊于预期，并使消费者支出数十年来的最大增幅之一也黯然失色。美国商务部周四公布的初步估计数据显示，第二季度国内生产总值折合年率增长6.5%，第一季度数据修正后为6.3%。联邦政府支出、住宅投资和库存拖累了第二季度的数据。\n2、美国楼市可能见顶的又一信号：美国成屋签约销售意外下跌\n美国6月成屋签约待过户销售环比5月下降1.9%，差于预期。分析认为，高房价以及可售房产有限，正阻碍潜在买家进入市场。本周稍早，6月新屋销售数据让市场大跌眼镜。这些都表明，美国楼市有放缓迹象。\n3、新冠疫情衰退期间美国经济萎缩近20% 创历史纪录\n美国政府周四数据显示，该国经济在2019年四季度峰值到2020年二季度期间创纪录地萎缩了19.2%，证实了新冠疫情导致的衰退是有史以来最严重的一次。从疫情低迷中复苏的速度同样令人震惊。美国商务部经济分析局表示，2020年二季度至四季度，美国经济以18.3%的历史平均速度反弹。\n4、美国医生的绝望：任你喊破喉咙 疫苗怀疑者无动于衷\n专家称，疫情正在进入一个黑暗的新阶段。美国将近一半国民拒绝疫苗、不戴口罩、将防疫限制视为对自由的侵犯。随着感染病例再度增加，科学家和医生正在面临一个令人抓狂现实：这个国家有控制疫情的办法，但相当部分人口拒绝接受。\n5、拜登呼吁国会延长暂停驱逐租客令 因变种病毒传播\n美国总统拜登周四呼吁国会延长定于7月31日到期的暂停房东驱逐租客的禁令，因delta变种病毒继续在美国各地蔓延。白宫在一份声明中说：“总统呼吁国会立即延长暂停驱逐令，以保护这些脆弱的租户及其家人。”\n6、欧洲央行公布会议纪要 允许欧元区经济过热\n当地时间29日，欧洲央行公布了本月7日至8日的货币政策会议纪要，其中最重要的内容是将中期通胀目标从“接近但低于2%”修改为“2%”。这意味着可能会有“通胀略高于目标的过渡期”。但是在本次公布的会议纪要中，并没有提及机构内部的讨论内容，只是总结了7月8日公布的决议。\n公司新闻\n1、“贝佐斯时代“黯然谢幕？亚马逊二季度收入、营业利润和下季指引均不佳\n财报显示，亚马逊二季度加总产品和服务的净销售额为1130.8亿美元，同比增27.2%，逊于市场预期的1151亿美元或同比增29%，公司此前给出的官方指引是1100亿至1160亿美元区间。\n2、芯片短缺助长半导体业务，三星营收创二季度最高，三年内要收购\n当地时间7月29日周四，韩国最大企业三星电子公布了截止6月的2021年第二季度财报。由于存储芯片涨价和美国得州奥斯汀工厂迅速复工，营收创史上第二季度新高，净利润也增超70%。\n3、苹果发行65亿美元债券 为回购增加现金储备\n苹果公司周四从美国投资级债券市场融资，分成四部分发行65亿美元债券，因这家科技巨头越来越希望将现金返还给股东。据一位知情人士透露，此次发行期限最长的债券是40年期，收益率将比美国国债高0.92个百分点。最初讨论的价格为1.15个百分点区间。\n4、拖累整体业绩 阿斯利康开始评估疫苗业务可持续性\n据媒体报道，阿斯利康正在考虑其新冠疫苗业务的未来，预计到2021年底，对该业务的规划将更加明确。在新冠疫苗的竞赛中，阿斯利康遭遇了一系列挫折，因此该公司开始评估其新冠疫苗业务，不过阿斯利康高管强调，现在就决定该业务的未来还为时过早。\n5、软银抛售三分之一Uber股份 部分用于冲抵投资滴滴的亏空\n7月29日消息，据外媒报道，两名知情人士称，软银将把其所持的叫车服务公司Uber的股份抛售大约三分之一，以部分用于弥补其投资中国叫车服务公司滴滴而出现的亏损。该公司计划出售4500万股Uber股份，禁售期为30天。报告发布后，Uber股价在盘后交易中下跌了5%。\n6、Pinterest二季度用户流失，盘后股价暴跌超18%\n报告显示，Pinterest 第二季度营收为 6.13 亿美元，与去年同期的 2.72 亿美元相比增长 125%；净利润为 6940 万美元，相比之下去年同期的净亏损为 1 亿美元；不按照美国通用会计准则的调整后净利润为 1.7 亿美元，相比之下去年同期的调整后净亏损为 3840 万美元。\n7、吉利德科学Q2扭亏为盈，总营收同比增长21%\n财报显示，吉利德科学Q2总营收为62.17亿美元，同比增长21%；净利润为15.22亿美元，去年同期亏损33.39亿美元；摊薄后每股收益为1.21美元，去年同期每股亏损2.66美元","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}