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What key points should we focus on?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153809933","media":"智通财经网","summary":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。","content":"<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</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>The Fed's blockbuster July meeting is coming next week! What key points should we focus on?</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 Fed's blockbuster July meeting is coming next week! What key points should we focus on?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-07-24 13:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/520599.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98a01b74d12bd250d548a4cdbf0d9091","relate_stocks":{"161125":"标普500","513500":"标普500ETF","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","UPRO":"三倍做多标普500ETF-ProShares",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","DDM":"2倍做多道指ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DJX":"1/100道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF"},"source_url":"http://www.zhitongcaijing.com/content/detail/520599.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2153809933","content_text":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。除了市场急需知道鲍威尔目前的态度，更重要的是美联储是否已经有了缩减政策细节。\n美联储主席鲍威尔最近在国会作证时明确表示，他仍然认为通胀压力在很大程度上是暂时的，没有任何迫切需要发出政策即将转变的信号。毕竟，就业水平仍比疫情开始前低600多万，而最新的新冠疫情增加了另一层不确定性，可以用来为不采取行动辩护。\n但是ING策略师谈到即将在8月底举行的杰克逊霍尔美联储会议(Jackson Hole Federal Reserve Conference)上，美联储官员将开始为缩减量化宽松做准备，并在9月份的FOMC会议上进一步细化，然后在12月份正式宣布。\n经济正在增长，尽管可能没有今年早些时候一些人预期的那么快。此外许多企业迫切需要工人，但仍有数百万人失业。最近几周，疫苗接种率停滞不前，感染病例数量上升。尽管如此美联储正面临着收紧压力，如缩减QE。但大部分人还是预计美联储不会在下周会议上宣布任何新举措，但焦点是鲍威尔是否会把缩减细节“摆上桌面”来讨论。\n劳动力市场迹象暗示美联储的宽松远没有结束。经济学家和市场观察人士曾希望，到4月份疫苗广泛普及、许多经济限制开始解除的时候，雇主将开始大批雇佣工人。然而，现实却远没有这么乐观。根据美国劳工统计局(Bureau of Labor Statistics)的最新数据显示非农增速在最近数月总体不是很稳定。\n另外一方面，当下通胀环境又让美联储不得不考虑缩减一些已经实施的宽松刺激政策。亚特兰大联邦储备银行的三个月移动平均数据显示，尽管6月份的工资比去年同期高出3.2%，但通货膨胀率却上升得更高。与去年同期相比，6月份消费者价格指数增长了5.4%，这意味着经通胀调整后的收入下降了2%以上。即便是美联储青睐的剔除食品和能源价格波动的核心个人消费支出(Core PCE)指标，5月份也较上年同期上涨了3.4%。\n事实上，一个月前，美联储将2021年的通胀预期从3月份的2.2%上调至3%，但即便如此也可能过于乐观。在今年余下的时间里，通胀可能会持续上升。不过，美联储也未必会不急于介入。在去年8月的一次讲话中，鲍威尔表示，美联储在过去犯了太多的错误，他愿意在收紧之前，让价格在一段适度的时间内超过央行2%的目标。\n不过，美联储最近一次会议的纪要显示，人们对讨论缩减债券购买规模的兴趣有所增加。美联储目前每月购买价值1200亿美元的债券，但短期加息可能仍需数年时间。\nING策略师认为尽管美联储预计在7月份的会议上不会改变政策，但市场可能会听到更多有关6月份开始的缩减购债讨论的消息。在8月份的杰克逊霍尔(Jackson Hole)会议上，围绕这一问题的讨论可能会升温，因为美联储目前发出的信号仍倾向于更早的政策正常化。其谈到鲍威尔主席可能会暗示，虽然有关缩减量化宽松的讨论已经开始，但在他们需要就他们将采取的行动得出结论之前，还有很多时间。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"ESmain":0.9,"PSQ":0.9,"QID":0.9,"OEX":0.9,"SDOW":0.9,"SQQQ":0.9,"DXD":0.9,"DOG":0.9,"SSO":0.9,"SPY":0.9,"NQmain":0.9,"IVV":0.9,"QLD":0.9,".DJI":0.9,"DJX":0.9,".IXIC":0.9,"MNQmain":0.9,"SPXU":0.9,"QQQ":0.9,"TQQQ":0.9,"OEF":0.9,"SH":0.9,"UDOW":0.9,"SDS":0.9,".SPX":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":1954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177036993,"gmtCreate":1627166196112,"gmtModify":1703484848684,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580853960191633","authorIdStr":"3580853960191633"},"themes":[],"htmlText":"Upup","listText":"Upup","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177036993","repostId":"2153933385","repostType":4,"isVote":1,"tweetType":1,"viewCount":2231,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174270558,"gmtCreate":1627106235174,"gmtModify":1703484371379,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580853960191633","authorIdStr":"3580853960191633"},"themes":[],"htmlText":"Upup&nbsp;","listText":"Upup&nbsp;","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/174270558","repostId":"2153809933","repostType":4,"repost":{"id":"2153809933","kind":"highlight","pubTimestamp":1627105483,"share":"https://ttm.financial/m/news/2153809933?lang=en_US&edition=fundamental","pubTime":"2021-07-24 13:44","market":"hk","language":"zh","title":"The Fed's blockbuster July meeting is coming next week! What key points should we focus on?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153809933","media":"智通财经网","summary":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。","content":"<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</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>The Fed's blockbuster July meeting is coming next week! What key points should we focus on?</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 Fed's blockbuster July meeting is coming next week! What key points should we focus on?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-07-24 13:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/520599.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98a01b74d12bd250d548a4cdbf0d9091","relate_stocks":{"161125":"标普500","513500":"标普500ETF","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","UPRO":"三倍做多标普500ETF-ProShares",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","DDM":"2倍做多道指ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DJX":"1/100道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF"},"source_url":"http://www.zhitongcaijing.com/content/detail/520599.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2153809933","content_text":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。除了市场急需知道鲍威尔目前的态度，更重要的是美联储是否已经有了缩减政策细节。\n美联储主席鲍威尔最近在国会作证时明确表示，他仍然认为通胀压力在很大程度上是暂时的，没有任何迫切需要发出政策即将转变的信号。毕竟，就业水平仍比疫情开始前低600多万，而最新的新冠疫情增加了另一层不确定性，可以用来为不采取行动辩护。\n但是ING策略师谈到即将在8月底举行的杰克逊霍尔美联储会议(Jackson Hole Federal Reserve Conference)上，美联储官员将开始为缩减量化宽松做准备，并在9月份的FOMC会议上进一步细化，然后在12月份正式宣布。\n经济正在增长，尽管可能没有今年早些时候一些人预期的那么快。此外许多企业迫切需要工人，但仍有数百万人失业。最近几周，疫苗接种率停滞不前，感染病例数量上升。尽管如此美联储正面临着收紧压力，如缩减QE。但大部分人还是预计美联储不会在下周会议上宣布任何新举措，但焦点是鲍威尔是否会把缩减细节“摆上桌面”来讨论。\n劳动力市场迹象暗示美联储的宽松远没有结束。经济学家和市场观察人士曾希望，到4月份疫苗广泛普及、许多经济限制开始解除的时候，雇主将开始大批雇佣工人。然而，现实却远没有这么乐观。根据美国劳工统计局(Bureau of Labor Statistics)的最新数据显示非农增速在最近数月总体不是很稳定。\n另外一方面，当下通胀环境又让美联储不得不考虑缩减一些已经实施的宽松刺激政策。亚特兰大联邦储备银行的三个月移动平均数据显示，尽管6月份的工资比去年同期高出3.2%，但通货膨胀率却上升得更高。与去年同期相比，6月份消费者价格指数增长了5.4%，这意味着经通胀调整后的收入下降了2%以上。即便是美联储青睐的剔除食品和能源价格波动的核心个人消费支出(Core PCE)指标，5月份也较上年同期上涨了3.4%。\n事实上，一个月前，美联储将2021年的通胀预期从3月份的2.2%上调至3%，但即便如此也可能过于乐观。在今年余下的时间里，通胀可能会持续上升。不过，美联储也未必会不急于介入。在去年8月的一次讲话中，鲍威尔表示，美联储在过去犯了太多的错误，他愿意在收紧之前，让价格在一段适度的时间内超过央行2%的目标。\n不过，美联储最近一次会议的纪要显示，人们对讨论缩减债券购买规模的兴趣有所增加。美联储目前每月购买价值1200亿美元的债券，但短期加息可能仍需数年时间。\nING策略师认为尽管美联储预计在7月份的会议上不会改变政策，但市场可能会听到更多有关6月份开始的缩减购债讨论的消息。在8月份的杰克逊霍尔(Jackson Hole)会议上，围绕这一问题的讨论可能会升温，因为美联储目前发出的信号仍倾向于更早的政策正常化。其谈到鲍威尔主席可能会暗示，虽然有关缩减量化宽松的讨论已经开始，但在他们需要就他们将采取的行动得出结论之前，还有很多时间。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"ESmain":0.9,"PSQ":0.9,"QID":0.9,"OEX":0.9,"SDOW":0.9,"SQQQ":0.9,"DXD":0.9,"DOG":0.9,"SSO":0.9,"SPY":0.9,"NQmain":0.9,"IVV":0.9,"QLD":0.9,".DJI":0.9,"DJX":0.9,".IXIC":0.9,"MNQmain":0.9,"SPXU":0.9,"QQQ":0.9,"TQQQ":0.9,"OEF":0.9,"SH":0.9,"UDOW":0.9,"SDS":0.9,".SPX":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":2743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175507207,"gmtCreate":1627039517709,"gmtModify":1703482991215,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580853960191633","authorIdStr":"3580853960191633"},"themes":[],"htmlText":"Upup","listText":"Upup","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175507207","repostId":"1172076155","repostType":4,"repost":{"id":"1172076155","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":1627035498,"share":"https://ttm.financial/m/news/1172076155?lang=en_US&edition=fundamental","pubTime":"2021-07-23 18:18","market":"us","language":"zh","title":"Earnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?","url":"https://stock-news.laohu8.com/highlight/detail?id=1172076155","media":"老虎资讯综合","summary":"两大支付巨头将迎来最新业绩。Visa将于7月27日（下周二）美股盘后公布2021财年第三季度财报，Paypal将于7月28日（下周三）美股盘后公布2021年第二季度财报。今年以来，Visa股价涨近12","content":"<p>The two payment giants will usher in the latest results.<a href=\"https://laohu8.com/S/V\">Visa</a>The third quarter financial report for fiscal year 2021 will be announced after the U.S. stock market closes on July 27 (next Tuesday).<a href=\"https://laohu8.com/S/PYPL\">Paypal</a>The second quarter 2021 financial report will be announced after the U.S. stock market closes on July 28 (next Wednesday). Since the beginning of this year, Visa's stock price has risen by nearly 12%, and Paypal has risen by nearly 30%. In contrast, the S&P 500 index has risen by about 16%.</p><p><img src=\"https://static.tigerbbs.com/00ce5d0c4bc5fa1ccd3393fff99b197d\" tg-width=\"1814\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Last Quarter Review</b></p><p>Both Visa and Paypal exceeded market expectations last quarter.</p><p>The financial report shows that Visa's revenue in the second fiscal quarter was US $5.729 billion, a year-on-year decrease of 2%; Net profit was US $3.026 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, flat year-over-year. Under Non-GAAP, net profit was US $3 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, down 1% year-over-year. Visa's fiscal second-quarter payments increased 11% year-over-year; Cross-border transactions excluding intra-European transactions fell 21% year-on-year; Total cross-border transactions decreased by 11% year-on-year; Total transactions processed were 37.6 billion, up 8% year-on-year.</p><p>Paypal's revenue in the first quarter was US $6.033 billion, a year-on-year increase of 31%, and its net profit was US $1.097 billion, a year-on-year increase of 1206%; Adjusted earnings per share were $1.22, up 84% year over year. Paypal's total payment amount in the first quarter was US $285.447 billion, a year-on-year increase of 50%; In the first quarter, there were 14.5 million net new active accounts, a year-on-year increase of 21%, and the total active accounts reached 392 million. During the quarter, PayPal processed 4.4 billion transactions, up 34% year over year.</p><p><img src=\"https://static.tigerbbs.com/56632e6fb8196468400c967ec8ce5821\" tg-width=\"1154\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p><b>Highlights of this quarter</b></p><p>The growing popularity of digital payments is providing a huge boost to leading players such as Vis and aPayPal. Both are on the front lines of the cash war and have hands down beating the market in recent years. But with $17 trillion worth of transactions still conducted using cash and checks, there's still plenty of opportunity for PayPal and Visa to grow for years to come.</p><p><b>Revenue maintains rapid growth, and the scale of the two is close</b></p><p>Visa's fiscal third-quarter results are likely in line with market consensus, as stronger credit card transaction volumes reported by issuers JPMorgan Chase and Bank of America in the June quarter were included in service revenue (about half of total net), but lagged by a quarter. Still, a year-over-year increase in consumer spending, aided by a simple April-May comparison and government stimulus, will help Visa deliver its expected 21% net revenue growth. Limiting the upside could be pandemic restrictions outside the U.S., which pose challenges to cross-border payments, which are expected to grow by nearly 44% in local currency terms. Travel is a key component, with one measure-TSA passenger throughput-down 18% year-over-year but rebounding 50% from the March quarter.</p><p>The consensus for PayPal's second-quarter revenue growth of 19% was in line with expectations, which may not reflect strong U.S. e-commerce spending from April to May, including strong \"buy now, pay later\" services. Such strong momentum may support plans to continue to raise prices in August. Retail e-commerce spending grew 9% in the second quarter, compared to 5.1% in the first quarter and a 13% decline in the second quarter, according to SpendTrend. Increased acceptance of in-store merchants' QR codes, Venmo's new crypto trading service, and PayPal's crypto payments could also bring incremental but small contributions, according to BitPay, not slowed by the Bitcoin sell-off.</p><p><b>Large user scale vs fast growth</b></p><p>PayPal and Visa have similar advantages. As of the first quarter, PayPal rapidly expanded in size, with 392 million customer accounts. That pales in comparison to the 3.378 billion Visa cards outstanding worldwide, but PayPal's customer accounts are growing rapidly, up 21% year-over-year. The digital payments provider's expanding reach has earned partnerships with all credit card brands, including Visa.</p><p>With so many cards in circulation, Visa doesn't seem to have a lot of growth opportunities, but it's still looking for ways to get it done-a sign of how big its addressable market really is. The company continues to bolster its massive network processing power, and that's how it makes money. Visa does not issue cards or assume credit risk, it simply charges fees in the business for processing transactions. Total transactions processed last quarter were 37.6 billion, up 8% year-on-year.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c7dfbc3e00fedacc0999294a8d11964f\" tg-width=\"1600\" tg-height=\"971\" referrerpolicy=\"no-referrer\"><span>Comparison of market capitalization of several payment giants</span></p><p><b>Cryptocurrency Color</b></p><p>As more and more people own and use cryptocurrencies around the world, financial institutions have to keep pace. However, such as the huge volatility of Bitcoin, it will also have a certain impact on their finances.</p><p>Visa announced cooperation with more than 50 cryptocurrency companies, including FTX and Coinbase, to allow users to easily use cryptocurrency for transactions through Visa's payment network. This cooperation means that merchants that do not support cryptocurrencies can also accept customers for transactions through Visa.</p><p>Within the first half of 2021, Visa card payments related to cryptocurrencies exceeded $1 billion. Visa said that this cooperation enables customers to easily convert and use cryptocurrency at more than 70 million merchants around the world, and the merchants do not need to make any changes. The cardholder's cryptocurrency will be instantly converted into a specific legal tender, because all operations are done in the background, so it is no different from usual Visa transactions.</p><p>Compared with Visa, PayPal is undoubtedly closer to cryptocurrency and can be called a \"cryptocurrency concept stock\". PayPal's layout in the encryption field can be traced back to 2013, and it has carried out corresponding cooperation with the three major payment processors in the encryption field. There are two main reasons for PayPal's entry into cryptocurrency. One is to attract users. As an international payment giant, PayPal needs to adapt to the development of the digital economy and provide users with more convenient and efficient services in the digital age; The second is to resist external competition. As a giant, PayPal is naturally unwilling to lag behind and chose the former between competing for users and regulatory uncertainty.</p><p>In March of this year, PayPal further liberalized its encrypted payment function, allowing 300 million users of its platform to pay through cryptocurrency and more than 2,900 merchants, allowing U.S. users to buy and sell cryptocurrency through their own accounts without any additional transaction fees. In May, PayPal announced that it would allow users to transfer cryptocurrency to third-party wallets, moving from internal circulation to external cooperation. In July, PayPal increased the weekly limit on cryptocurrency purchases that can be purchased to $100,000 per week.</p><p><b>Analyst Forecasts</b></p><p>According to Bloomberg consensus estimates, Visa's revenue in the third quarter of fiscal 2021 will be US $5.864 billion, adjusted net profit will be US $2.946 billion, and adjusted EPS will be US $1.35. Twenty-seven of the 42 analysts gave a buy rating, four gave a hold rating, and one gave a sell rating. The average price target is $272.31, which represents an upside of about 11% from the current stock price of $244.14.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4a4d2a275e802e3ed104d77faf723a0b\" tg-width=\"1917\" tg-height=\"487\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p><p>Analysts expect Paypal's second-quarter 2021 revenue to be US $6.269 billion, adjusted net income to be US $1.334 billion, and adjusted EPS to be US $1.12. Forty-six of the 52 analysts gave a buy rating, five gave a hold rating, and one gave a sell rating, with an average price target of $324.16, which represents an upside of about 7% from the current stock price of $303.69.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aebf2627c4e5317c17858d807c60603a\" tg-width=\"1917\" tg-height=\"490\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></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>Earnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?</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\">\nEarnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?\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\">2021-07-23 18:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The two payment giants will usher in the latest results.<a href=\"https://laohu8.com/S/V\">Visa</a>The third quarter financial report for fiscal year 2021 will be announced after the U.S. stock market closes on July 27 (next Tuesday).<a href=\"https://laohu8.com/S/PYPL\">Paypal</a>The second quarter 2021 financial report will be announced after the U.S. stock market closes on July 28 (next Wednesday). Since the beginning of this year, Visa's stock price has risen by nearly 12%, and Paypal has risen by nearly 30%. In contrast, the S&P 500 index has risen by about 16%.</p><p><img src=\"https://static.tigerbbs.com/00ce5d0c4bc5fa1ccd3393fff99b197d\" tg-width=\"1814\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Last Quarter Review</b></p><p>Both Visa and Paypal exceeded market expectations last quarter.</p><p>The financial report shows that Visa's revenue in the second fiscal quarter was US $5.729 billion, a year-on-year decrease of 2%; Net profit was US $3.026 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, flat year-over-year. Under Non-GAAP, net profit was US $3 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, down 1% year-over-year. Visa's fiscal second-quarter payments increased 11% year-over-year; Cross-border transactions excluding intra-European transactions fell 21% year-on-year; Total cross-border transactions decreased by 11% year-on-year; Total transactions processed were 37.6 billion, up 8% year-on-year.</p><p>Paypal's revenue in the first quarter was US $6.033 billion, a year-on-year increase of 31%, and its net profit was US $1.097 billion, a year-on-year increase of 1206%; Adjusted earnings per share were $1.22, up 84% year over year. Paypal's total payment amount in the first quarter was US $285.447 billion, a year-on-year increase of 50%; In the first quarter, there were 14.5 million net new active accounts, a year-on-year increase of 21%, and the total active accounts reached 392 million. During the quarter, PayPal processed 4.4 billion transactions, up 34% year over year.</p><p><img src=\"https://static.tigerbbs.com/56632e6fb8196468400c967ec8ce5821\" tg-width=\"1154\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p><b>Highlights of this quarter</b></p><p>The growing popularity of digital payments is providing a huge boost to leading players such as Vis and aPayPal. Both are on the front lines of the cash war and have hands down beating the market in recent years. But with $17 trillion worth of transactions still conducted using cash and checks, there's still plenty of opportunity for PayPal and Visa to grow for years to come.</p><p><b>Revenue maintains rapid growth, and the scale of the two is close</b></p><p>Visa's fiscal third-quarter results are likely in line with market consensus, as stronger credit card transaction volumes reported by issuers JPMorgan Chase and Bank of America in the June quarter were included in service revenue (about half of total net), but lagged by a quarter. Still, a year-over-year increase in consumer spending, aided by a simple April-May comparison and government stimulus, will help Visa deliver its expected 21% net revenue growth. Limiting the upside could be pandemic restrictions outside the U.S., which pose challenges to cross-border payments, which are expected to grow by nearly 44% in local currency terms. Travel is a key component, with one measure-TSA passenger throughput-down 18% year-over-year but rebounding 50% from the March quarter.</p><p>The consensus for PayPal's second-quarter revenue growth of 19% was in line with expectations, which may not reflect strong U.S. e-commerce spending from April to May, including strong \"buy now, pay later\" services. Such strong momentum may support plans to continue to raise prices in August. Retail e-commerce spending grew 9% in the second quarter, compared to 5.1% in the first quarter and a 13% decline in the second quarter, according to SpendTrend. Increased acceptance of in-store merchants' QR codes, Venmo's new crypto trading service, and PayPal's crypto payments could also bring incremental but small contributions, according to BitPay, not slowed by the Bitcoin sell-off.</p><p><b>Large user scale vs fast growth</b></p><p>PayPal and Visa have similar advantages. As of the first quarter, PayPal rapidly expanded in size, with 392 million customer accounts. That pales in comparison to the 3.378 billion Visa cards outstanding worldwide, but PayPal's customer accounts are growing rapidly, up 21% year-over-year. The digital payments provider's expanding reach has earned partnerships with all credit card brands, including Visa.</p><p>With so many cards in circulation, Visa doesn't seem to have a lot of growth opportunities, but it's still looking for ways to get it done-a sign of how big its addressable market really is. The company continues to bolster its massive network processing power, and that's how it makes money. Visa does not issue cards or assume credit risk, it simply charges fees in the business for processing transactions. Total transactions processed last quarter were 37.6 billion, up 8% year-on-year.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c7dfbc3e00fedacc0999294a8d11964f\" tg-width=\"1600\" tg-height=\"971\" referrerpolicy=\"no-referrer\"><span>Comparison of market capitalization of several payment giants</span></p><p><b>Cryptocurrency Color</b></p><p>As more and more people own and use cryptocurrencies around the world, financial institutions have to keep pace. However, such as the huge volatility of Bitcoin, it will also have a certain impact on their finances.</p><p>Visa announced cooperation with more than 50 cryptocurrency companies, including FTX and Coinbase, to allow users to easily use cryptocurrency for transactions through Visa's payment network. This cooperation means that merchants that do not support cryptocurrencies can also accept customers for transactions through Visa.</p><p>Within the first half of 2021, Visa card payments related to cryptocurrencies exceeded $1 billion. Visa said that this cooperation enables customers to easily convert and use cryptocurrency at more than 70 million merchants around the world, and the merchants do not need to make any changes. The cardholder's cryptocurrency will be instantly converted into a specific legal tender, because all operations are done in the background, so it is no different from usual Visa transactions.</p><p>Compared with Visa, PayPal is undoubtedly closer to cryptocurrency and can be called a \"cryptocurrency concept stock\". PayPal's layout in the encryption field can be traced back to 2013, and it has carried out corresponding cooperation with the three major payment processors in the encryption field. There are two main reasons for PayPal's entry into cryptocurrency. One is to attract users. As an international payment giant, PayPal needs to adapt to the development of the digital economy and provide users with more convenient and efficient services in the digital age; The second is to resist external competition. As a giant, PayPal is naturally unwilling to lag behind and chose the former between competing for users and regulatory uncertainty.</p><p>In March of this year, PayPal further liberalized its encrypted payment function, allowing 300 million users of its platform to pay through cryptocurrency and more than 2,900 merchants, allowing U.S. users to buy and sell cryptocurrency through their own accounts without any additional transaction fees. In May, PayPal announced that it would allow users to transfer cryptocurrency to third-party wallets, moving from internal circulation to external cooperation. In July, PayPal increased the weekly limit on cryptocurrency purchases that can be purchased to $100,000 per week.</p><p><b>Analyst Forecasts</b></p><p>According to Bloomberg consensus estimates, Visa's revenue in the third quarter of fiscal 2021 will be US $5.864 billion, adjusted net profit will be US $2.946 billion, and adjusted EPS will be US $1.35. Twenty-seven of the 42 analysts gave a buy rating, four gave a hold rating, and one gave a sell rating. The average price target is $272.31, which represents an upside of about 11% from the current stock price of $244.14.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4a4d2a275e802e3ed104d77faf723a0b\" tg-width=\"1917\" tg-height=\"487\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p><p>Analysts expect Paypal's second-quarter 2021 revenue to be US $6.269 billion, adjusted net income to be US $1.334 billion, and adjusted EPS to be US $1.12. Forty-six of the 52 analysts gave a buy rating, five gave a hold rating, and one gave a sell rating, with an average price target of $324.16, which represents an upside of about 7% from the current stock price of $303.69.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aebf2627c4e5317c17858d807c60603a\" tg-width=\"1917\" tg-height=\"490\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/89069f6946fcd4b60cc54dd6110e6c34","relate_stocks":{"PYPL":"PayPal","V":"Visa"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172076155","content_text":"两大支付巨头将迎来最新业绩。Visa将于7月27日（下周二）美股盘后公布2021财年第三季度财报，Paypal将于7月28日（下周三）美股盘后公布2021年第二季度财报。今年以来，Visa股价涨近12%，Paypal涨近30%，相对的，标普500指数涨幅在16%左右。\n\n上季度回顾\nVisa与Paypal上季度业绩均超市场预期。\n财报显示，Visa第二财季营收为57.29亿美元，同比下降2%；净利润为30.26亿美元，同比下降2%；每股收益1.38美元，同比持平。Non-GAAP下，净利润为30亿美元，同比下降2%；每股收益为1.38美元，同比下降1%。Visa第二财季支付额同比增长11%；不包括欧洲内部交易的跨境交易额同比下降21%；跨境交易总额同比下降11%；处理交易总额为376亿，同比增长8%。\nPaypal第一季度营收60.33亿美元，同比增长31%，净利润为10.97亿美元，同比增长1206%；调整后每股收益为1.22美元，同比增长84%。Paypal一季度总支付额为2854.47亿美元，同比增长50%；第一季度净新增活跃账户1450万个，同比增长21%，总活跃账户达到了3.92亿个。该季度，PayPal处理交易量达44亿次，同比增长34%。\n\n本季度看点\n数字支付的日益普及为Vis和aPayPal等领先企业提供了巨大的推动力。两者都处于现金战争的前线，并且近年来轻而易举地击败了市场。但是，由于价值17万亿美元的交易仍然使用现金和支票进行，因此PayPal和Visa仍有很多机会在未来多年增长。\n营收保持高速增长，两者规模接近\nVisa的第三财季业绩可能与市场共识一致，因为发行人摩根大通和美国银行在6月季度报告的更强劲的信用卡交易量计入服务收入（约占总净额的一半），但滞后四分之一。尽管如此，在4月至5月的简单比较和政府刺激措施的帮助下，消费者支出同比增长将帮助Visa实现预期的21%的净收入增长。限制上行空间的可能是美国以外的疫情限制，这些限制对跨境支付构成挑战，预计以当地货币计算将增长近44%。旅行是一个关键组成部分，其中一项措施——TSA旅客吞吐量——同比下降18%，但比3月季度反弹50%。\n对PayPal第二季度收入增长19%的共识符合预期，这可能无法反映美国4月至5月强劲的电子商务支出，包括强劲的“先买后付”服务。如此强劲的势头可能支持了8月份继续提价的计划。根据SpendTrend的数据，零售电子商务支出在第二季度增长了9%，而第一季度为5.1%，第二季度下降了13%。据BitPay称，店内商户二维码接受度的提高、Venmo的新加密交易服务以及PayPal的加密支付也可能带来增量但很小的贡献，这并没有因比特币抛售而放缓。\n用户规模大vs增速快\nPayPal和Visa具有类似的优势。截至第一季度，PayPal的规模迅速扩大，拥有3.92亿个客户账户。与全球33.78亿张未偿还的Visa卡相比，这相形见绌，但PayPal的客户账户增长迅速，同比增长21%。这家数字支付提供商不断扩大的影响力赢得了与包括Visa在内的所有信用卡品牌的合作伙伴关系。\n有这么多卡在流通，Visa似乎没有很多增长机会，但它仍在寻找完成它的方法——这表明其潜在市场确实有多大。该公司继续增强其庞大的网络处理能力，这就是它赚钱的方式。Visa不发卡或承担信用风险，它只是在业务中收取处理交易的费用。上个季度处理交易总额为376亿，同比增长8%。\n几大支付巨头市值比较\n加密货币色彩\n全球拥有和使用加密货币的人越来越多，金融机构也要跟上步伐。但如比特币巨大的波动性，也会对它们的财务造成一定影响。\nVisa宣布与包括FTX和Coinbase等超过50家加密货币公司展开合作，容许用户通过Visa的支付网络，轻松使用加密货币进行交易。这个合作意味着不支持加密货币的商户，也可以通过Visa接受顾客以此进行交易。\n在2021上半内，与加密货币有关的Visa卡支付金额超过10亿美元。Visa表示这次合作令客户能够在全球超过7,000万商户，轻松转换和使用加密货币，而商户不需要作出任何改变，持卡人的加密货币会即时转换成特定的法定货币，因为所有操作都在后台完成，所以跟往常的Visa交易没有不同。\n相比Visa，PayPal无疑距离加密货币更近，可称为“加密货币概念股”。PayPal对加密领域的布局最早可追溯至2013年，与加密领域的三大支付处理商均开展过相应合作.PayPal进军加密货币主要原因有二，一是吸引用户，作为国际支付巨头，PayPal需要适应数字经济的发展，为用户在数字化时代提供更为便捷、高效的服务；二是抵御外部竞争，作为巨头的PayPal自然不甘落后，在争夺用户与监管的不确定性之间选择了前者。\n今年3月，PayPal进一步放开其加密支付功能，让其平台的3亿用户可以通过加密货币和2900多家商户进行支付，允许美国用户通过自己账户购买和出手加密货币，并且不需要任何额外交易费用。5月的时候，PayPal宣布允许用户将加密货币转移到第三方钱包，从内循环走向了外部合作。7月，PayPal将每周可以购买的加密货币购买限额提高至每周10万美元。\n分析师预测\n根据彭博一致预期，Visa 2021财年第三季度营收为58.64亿美元，调整后净利润为29.46亿美元，调整后EPS为1.35美元。42位分析师中27位给出买入评级，4位给出持有评级，1位给出卖出评级，平均目标价格272.31美元，较当前244.14美元的股价约有11%的上涨空间。\n来源：彭博\n分析师预期Paypal 2021年第二季度营收为62.69亿美元，调整后净利润为13.34亿美元，调整后EPS为1.12美元。52位分析师中46位给出买入评级，5位给出持有评级，1位给出卖出评级，平均目标价格324.16美元，较当前303.69美元的股价约有7%的上涨空间。\n来源：彭博","news_type":1,"symbols_score_info":{"V":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1702,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172366162,"gmtCreate":1626937703656,"gmtModify":1703480915627,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580853960191633","authorIdStr":"3580853960191633"},"themes":[],"htmlText":"Please tonight upup.&nbsp;","listText":"Please tonight upup.&nbsp;","text":"Please tonight 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upup, hengheng","listText":"Tonight upup, hengheng","text":"Tonight upup, 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13:44","market":"hk","language":"zh","title":"The Fed's blockbuster July meeting is coming next week! What key points should we focus on?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153809933","media":"智通财经网","summary":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。","content":"<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</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>The Fed's blockbuster July meeting is coming next week! What key points should we focus on?</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 Fed's blockbuster July meeting is coming next week! What key points should we focus on?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-07-24 13:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/520599.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98a01b74d12bd250d548a4cdbf0d9091","relate_stocks":{"161125":"标普500","513500":"标普500ETF","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","UPRO":"三倍做多标普500ETF-ProShares",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","DDM":"2倍做多道指ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DJX":"1/100道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF"},"source_url":"http://www.zhitongcaijing.com/content/detail/520599.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2153809933","content_text":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。除了市场急需知道鲍威尔目前的态度，更重要的是美联储是否已经有了缩减政策细节。\n美联储主席鲍威尔最近在国会作证时明确表示，他仍然认为通胀压力在很大程度上是暂时的，没有任何迫切需要发出政策即将转变的信号。毕竟，就业水平仍比疫情开始前低600多万，而最新的新冠疫情增加了另一层不确定性，可以用来为不采取行动辩护。\n但是ING策略师谈到即将在8月底举行的杰克逊霍尔美联储会议(Jackson Hole Federal Reserve Conference)上，美联储官员将开始为缩减量化宽松做准备，并在9月份的FOMC会议上进一步细化，然后在12月份正式宣布。\n经济正在增长，尽管可能没有今年早些时候一些人预期的那么快。此外许多企业迫切需要工人，但仍有数百万人失业。最近几周，疫苗接种率停滞不前，感染病例数量上升。尽管如此美联储正面临着收紧压力，如缩减QE。但大部分人还是预计美联储不会在下周会议上宣布任何新举措，但焦点是鲍威尔是否会把缩减细节“摆上桌面”来讨论。\n劳动力市场迹象暗示美联储的宽松远没有结束。经济学家和市场观察人士曾希望，到4月份疫苗广泛普及、许多经济限制开始解除的时候，雇主将开始大批雇佣工人。然而，现实却远没有这么乐观。根据美国劳工统计局(Bureau of Labor Statistics)的最新数据显示非农增速在最近数月总体不是很稳定。\n另外一方面，当下通胀环境又让美联储不得不考虑缩减一些已经实施的宽松刺激政策。亚特兰大联邦储备银行的三个月移动平均数据显示，尽管6月份的工资比去年同期高出3.2%，但通货膨胀率却上升得更高。与去年同期相比，6月份消费者价格指数增长了5.4%，这意味着经通胀调整后的收入下降了2%以上。即便是美联储青睐的剔除食品和能源价格波动的核心个人消费支出(Core PCE)指标，5月份也较上年同期上涨了3.4%。\n事实上，一个月前，美联储将2021年的通胀预期从3月份的2.2%上调至3%，但即便如此也可能过于乐观。在今年余下的时间里，通胀可能会持续上升。不过，美联储也未必会不急于介入。在去年8月的一次讲话中，鲍威尔表示，美联储在过去犯了太多的错误，他愿意在收紧之前，让价格在一段适度的时间内超过央行2%的目标。\n不过，美联储最近一次会议的纪要显示，人们对讨论缩减债券购买规模的兴趣有所增加。美联储目前每月购买价值1200亿美元的债券，但短期加息可能仍需数年时间。\nING策略师认为尽管美联储预计在7月份的会议上不会改变政策，但市场可能会听到更多有关6月份开始的缩减购债讨论的消息。在8月份的杰克逊霍尔(Jackson Hole)会议上，围绕这一问题的讨论可能会升温，因为美联储目前发出的信号仍倾向于更早的政策正常化。其谈到鲍威尔主席可能会暗示，虽然有关缩减量化宽松的讨论已经开始，但在他们需要就他们将采取的行动得出结论之前，还有很多时间。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"ESmain":0.9,"PSQ":0.9,"QID":0.9,"OEX":0.9,"SDOW":0.9,"SQQQ":0.9,"DXD":0.9,"DOG":0.9,"SSO":0.9,"SPY":0.9,"NQmain":0.9,"IVV":0.9,"QLD":0.9,".DJI":0.9,"DJX":0.9,".IXIC":0.9,"MNQmain":0.9,"SPXU":0.9,"QQQ":0.9,"TQQQ":0.9,"OEF":0.9,"SH":0.9,"UDOW":0.9,"SDS":0.9,".SPX":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":2743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144176782,"gmtCreate":1626273426146,"gmtModify":1703756902704,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"G&nbsp;","listText":"G&nbsp;","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144176782","repostId":"1187299291","repostType":4,"isVote":1,"tweetType":1,"viewCount":2001,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177737603,"gmtCreate":1627261282702,"gmtModify":1703486135784,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"Upup&nbsp;","listText":"Upup&nbsp;","text":"Upup","images":[{"img":"https://static.tigerbbs.com/807a5510e6d8827904a567d716bd4636","width":"1080","height":"2991"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177737603","isVote":1,"tweetType":1,"viewCount":1938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":177036993,"gmtCreate":1627166196112,"gmtModify":1703484848684,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"Upup","listText":"Upup","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177036993","repostId":"2153933385","repostType":4,"isVote":1,"tweetType":1,"viewCount":2231,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175507207,"gmtCreate":1627039517709,"gmtModify":1703482991215,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"Upup","listText":"Upup","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175507207","repostId":"1172076155","repostType":4,"repost":{"id":"1172076155","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":1627035498,"share":"https://ttm.financial/m/news/1172076155?lang=en_US&edition=fundamental","pubTime":"2021-07-23 18:18","market":"us","language":"zh","title":"Earnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?","url":"https://stock-news.laohu8.com/highlight/detail?id=1172076155","media":"老虎资讯综合","summary":"两大支付巨头将迎来最新业绩。Visa将于7月27日（下周二）美股盘后公布2021财年第三季度财报，Paypal将于7月28日（下周三）美股盘后公布2021年第二季度财报。今年以来，Visa股价涨近12","content":"<p>The two payment giants will usher in the latest results.<a href=\"https://laohu8.com/S/V\">Visa</a>The third quarter financial report for fiscal year 2021 will be announced after the U.S. stock market closes on July 27 (next Tuesday).<a href=\"https://laohu8.com/S/PYPL\">Paypal</a>The second quarter 2021 financial report will be announced after the U.S. stock market closes on July 28 (next Wednesday). Since the beginning of this year, Visa's stock price has risen by nearly 12%, and Paypal has risen by nearly 30%. In contrast, the S&P 500 index has risen by about 16%.</p><p><img src=\"https://static.tigerbbs.com/00ce5d0c4bc5fa1ccd3393fff99b197d\" tg-width=\"1814\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Last Quarter Review</b></p><p>Both Visa and Paypal exceeded market expectations last quarter.</p><p>The financial report shows that Visa's revenue in the second fiscal quarter was US $5.729 billion, a year-on-year decrease of 2%; Net profit was US $3.026 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, flat year-over-year. Under Non-GAAP, net profit was US $3 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, down 1% year-over-year. Visa's fiscal second-quarter payments increased 11% year-over-year; Cross-border transactions excluding intra-European transactions fell 21% year-on-year; Total cross-border transactions decreased by 11% year-on-year; Total transactions processed were 37.6 billion, up 8% year-on-year.</p><p>Paypal's revenue in the first quarter was US $6.033 billion, a year-on-year increase of 31%, and its net profit was US $1.097 billion, a year-on-year increase of 1206%; Adjusted earnings per share were $1.22, up 84% year over year. Paypal's total payment amount in the first quarter was US $285.447 billion, a year-on-year increase of 50%; In the first quarter, there were 14.5 million net new active accounts, a year-on-year increase of 21%, and the total active accounts reached 392 million. During the quarter, PayPal processed 4.4 billion transactions, up 34% year over year.</p><p><img src=\"https://static.tigerbbs.com/56632e6fb8196468400c967ec8ce5821\" tg-width=\"1154\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p><b>Highlights of this quarter</b></p><p>The growing popularity of digital payments is providing a huge boost to leading players such as Vis and aPayPal. Both are on the front lines of the cash war and have hands down beating the market in recent years. But with $17 trillion worth of transactions still conducted using cash and checks, there's still plenty of opportunity for PayPal and Visa to grow for years to come.</p><p><b>Revenue maintains rapid growth, and the scale of the two is close</b></p><p>Visa's fiscal third-quarter results are likely in line with market consensus, as stronger credit card transaction volumes reported by issuers JPMorgan Chase and Bank of America in the June quarter were included in service revenue (about half of total net), but lagged by a quarter. Still, a year-over-year increase in consumer spending, aided by a simple April-May comparison and government stimulus, will help Visa deliver its expected 21% net revenue growth. Limiting the upside could be pandemic restrictions outside the U.S., which pose challenges to cross-border payments, which are expected to grow by nearly 44% in local currency terms. Travel is a key component, with one measure-TSA passenger throughput-down 18% year-over-year but rebounding 50% from the March quarter.</p><p>The consensus for PayPal's second-quarter revenue growth of 19% was in line with expectations, which may not reflect strong U.S. e-commerce spending from April to May, including strong \"buy now, pay later\" services. Such strong momentum may support plans to continue to raise prices in August. Retail e-commerce spending grew 9% in the second quarter, compared to 5.1% in the first quarter and a 13% decline in the second quarter, according to SpendTrend. Increased acceptance of in-store merchants' QR codes, Venmo's new crypto trading service, and PayPal's crypto payments could also bring incremental but small contributions, according to BitPay, not slowed by the Bitcoin sell-off.</p><p><b>Large user scale vs fast growth</b></p><p>PayPal and Visa have similar advantages. As of the first quarter, PayPal rapidly expanded in size, with 392 million customer accounts. That pales in comparison to the 3.378 billion Visa cards outstanding worldwide, but PayPal's customer accounts are growing rapidly, up 21% year-over-year. The digital payments provider's expanding reach has earned partnerships with all credit card brands, including Visa.</p><p>With so many cards in circulation, Visa doesn't seem to have a lot of growth opportunities, but it's still looking for ways to get it done-a sign of how big its addressable market really is. The company continues to bolster its massive network processing power, and that's how it makes money. Visa does not issue cards or assume credit risk, it simply charges fees in the business for processing transactions. Total transactions processed last quarter were 37.6 billion, up 8% year-on-year.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c7dfbc3e00fedacc0999294a8d11964f\" tg-width=\"1600\" tg-height=\"971\" referrerpolicy=\"no-referrer\"><span>Comparison of market capitalization of several payment giants</span></p><p><b>Cryptocurrency Color</b></p><p>As more and more people own and use cryptocurrencies around the world, financial institutions have to keep pace. However, such as the huge volatility of Bitcoin, it will also have a certain impact on their finances.</p><p>Visa announced cooperation with more than 50 cryptocurrency companies, including FTX and Coinbase, to allow users to easily use cryptocurrency for transactions through Visa's payment network. This cooperation means that merchants that do not support cryptocurrencies can also accept customers for transactions through Visa.</p><p>Within the first half of 2021, Visa card payments related to cryptocurrencies exceeded $1 billion. Visa said that this cooperation enables customers to easily convert and use cryptocurrency at more than 70 million merchants around the world, and the merchants do not need to make any changes. The cardholder's cryptocurrency will be instantly converted into a specific legal tender, because all operations are done in the background, so it is no different from usual Visa transactions.</p><p>Compared with Visa, PayPal is undoubtedly closer to cryptocurrency and can be called a \"cryptocurrency concept stock\". PayPal's layout in the encryption field can be traced back to 2013, and it has carried out corresponding cooperation with the three major payment processors in the encryption field. There are two main reasons for PayPal's entry into cryptocurrency. One is to attract users. As an international payment giant, PayPal needs to adapt to the development of the digital economy and provide users with more convenient and efficient services in the digital age; The second is to resist external competition. As a giant, PayPal is naturally unwilling to lag behind and chose the former between competing for users and regulatory uncertainty.</p><p>In March of this year, PayPal further liberalized its encrypted payment function, allowing 300 million users of its platform to pay through cryptocurrency and more than 2,900 merchants, allowing U.S. users to buy and sell cryptocurrency through their own accounts without any additional transaction fees. In May, PayPal announced that it would allow users to transfer cryptocurrency to third-party wallets, moving from internal circulation to external cooperation. In July, PayPal increased the weekly limit on cryptocurrency purchases that can be purchased to $100,000 per week.</p><p><b>Analyst Forecasts</b></p><p>According to Bloomberg consensus estimates, Visa's revenue in the third quarter of fiscal 2021 will be US $5.864 billion, adjusted net profit will be US $2.946 billion, and adjusted EPS will be US $1.35. Twenty-seven of the 42 analysts gave a buy rating, four gave a hold rating, and one gave a sell rating. The average price target is $272.31, which represents an upside of about 11% from the current stock price of $244.14.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4a4d2a275e802e3ed104d77faf723a0b\" tg-width=\"1917\" tg-height=\"487\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p><p>Analysts expect Paypal's second-quarter 2021 revenue to be US $6.269 billion, adjusted net income to be US $1.334 billion, and adjusted EPS to be US $1.12. Forty-six of the 52 analysts gave a buy rating, five gave a hold rating, and one gave a sell rating, with an average price target of $324.16, which represents an upside of about 7% from the current stock price of $303.69.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aebf2627c4e5317c17858d807c60603a\" tg-width=\"1917\" tg-height=\"490\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></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>Earnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?</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\">\nEarnings Preview: Payment Giant Visa vs. Paypal, Who Is Better?\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\">2021-07-23 18:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The two payment giants will usher in the latest results.<a href=\"https://laohu8.com/S/V\">Visa</a>The third quarter financial report for fiscal year 2021 will be announced after the U.S. stock market closes on July 27 (next Tuesday).<a href=\"https://laohu8.com/S/PYPL\">Paypal</a>The second quarter 2021 financial report will be announced after the U.S. stock market closes on July 28 (next Wednesday). Since the beginning of this year, Visa's stock price has risen by nearly 12%, and Paypal has risen by nearly 30%. In contrast, the S&P 500 index has risen by about 16%.</p><p><img src=\"https://static.tigerbbs.com/00ce5d0c4bc5fa1ccd3393fff99b197d\" tg-width=\"1814\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Last Quarter Review</b></p><p>Both Visa and Paypal exceeded market expectations last quarter.</p><p>The financial report shows that Visa's revenue in the second fiscal quarter was US $5.729 billion, a year-on-year decrease of 2%; Net profit was US $3.026 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, flat year-over-year. Under Non-GAAP, net profit was US $3 billion, a year-on-year decrease of 2%; Earnings per share were $1.38, down 1% year-over-year. Visa's fiscal second-quarter payments increased 11% year-over-year; Cross-border transactions excluding intra-European transactions fell 21% year-on-year; Total cross-border transactions decreased by 11% year-on-year; Total transactions processed were 37.6 billion, up 8% year-on-year.</p><p>Paypal's revenue in the first quarter was US $6.033 billion, a year-on-year increase of 31%, and its net profit was US $1.097 billion, a year-on-year increase of 1206%; Adjusted earnings per share were $1.22, up 84% year over year. Paypal's total payment amount in the first quarter was US $285.447 billion, a year-on-year increase of 50%; In the first quarter, there were 14.5 million net new active accounts, a year-on-year increase of 21%, and the total active accounts reached 392 million. During the quarter, PayPal processed 4.4 billion transactions, up 34% year over year.</p><p><img src=\"https://static.tigerbbs.com/56632e6fb8196468400c967ec8ce5821\" tg-width=\"1154\" tg-height=\"690\" referrerpolicy=\"no-referrer\"></p><p><b>Highlights of this quarter</b></p><p>The growing popularity of digital payments is providing a huge boost to leading players such as Vis and aPayPal. Both are on the front lines of the cash war and have hands down beating the market in recent years. But with $17 trillion worth of transactions still conducted using cash and checks, there's still plenty of opportunity for PayPal and Visa to grow for years to come.</p><p><b>Revenue maintains rapid growth, and the scale of the two is close</b></p><p>Visa's fiscal third-quarter results are likely in line with market consensus, as stronger credit card transaction volumes reported by issuers JPMorgan Chase and Bank of America in the June quarter were included in service revenue (about half of total net), but lagged by a quarter. Still, a year-over-year increase in consumer spending, aided by a simple April-May comparison and government stimulus, will help Visa deliver its expected 21% net revenue growth. Limiting the upside could be pandemic restrictions outside the U.S., which pose challenges to cross-border payments, which are expected to grow by nearly 44% in local currency terms. Travel is a key component, with one measure-TSA passenger throughput-down 18% year-over-year but rebounding 50% from the March quarter.</p><p>The consensus for PayPal's second-quarter revenue growth of 19% was in line with expectations, which may not reflect strong U.S. e-commerce spending from April to May, including strong \"buy now, pay later\" services. Such strong momentum may support plans to continue to raise prices in August. Retail e-commerce spending grew 9% in the second quarter, compared to 5.1% in the first quarter and a 13% decline in the second quarter, according to SpendTrend. Increased acceptance of in-store merchants' QR codes, Venmo's new crypto trading service, and PayPal's crypto payments could also bring incremental but small contributions, according to BitPay, not slowed by the Bitcoin sell-off.</p><p><b>Large user scale vs fast growth</b></p><p>PayPal and Visa have similar advantages. As of the first quarter, PayPal rapidly expanded in size, with 392 million customer accounts. That pales in comparison to the 3.378 billion Visa cards outstanding worldwide, but PayPal's customer accounts are growing rapidly, up 21% year-over-year. The digital payments provider's expanding reach has earned partnerships with all credit card brands, including Visa.</p><p>With so many cards in circulation, Visa doesn't seem to have a lot of growth opportunities, but it's still looking for ways to get it done-a sign of how big its addressable market really is. The company continues to bolster its massive network processing power, and that's how it makes money. Visa does not issue cards or assume credit risk, it simply charges fees in the business for processing transactions. Total transactions processed last quarter were 37.6 billion, up 8% year-on-year.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c7dfbc3e00fedacc0999294a8d11964f\" tg-width=\"1600\" tg-height=\"971\" referrerpolicy=\"no-referrer\"><span>Comparison of market capitalization of several payment giants</span></p><p><b>Cryptocurrency Color</b></p><p>As more and more people own and use cryptocurrencies around the world, financial institutions have to keep pace. However, such as the huge volatility of Bitcoin, it will also have a certain impact on their finances.</p><p>Visa announced cooperation with more than 50 cryptocurrency companies, including FTX and Coinbase, to allow users to easily use cryptocurrency for transactions through Visa's payment network. This cooperation means that merchants that do not support cryptocurrencies can also accept customers for transactions through Visa.</p><p>Within the first half of 2021, Visa card payments related to cryptocurrencies exceeded $1 billion. Visa said that this cooperation enables customers to easily convert and use cryptocurrency at more than 70 million merchants around the world, and the merchants do not need to make any changes. The cardholder's cryptocurrency will be instantly converted into a specific legal tender, because all operations are done in the background, so it is no different from usual Visa transactions.</p><p>Compared with Visa, PayPal is undoubtedly closer to cryptocurrency and can be called a \"cryptocurrency concept stock\". PayPal's layout in the encryption field can be traced back to 2013, and it has carried out corresponding cooperation with the three major payment processors in the encryption field. There are two main reasons for PayPal's entry into cryptocurrency. One is to attract users. As an international payment giant, PayPal needs to adapt to the development of the digital economy and provide users with more convenient and efficient services in the digital age; The second is to resist external competition. As a giant, PayPal is naturally unwilling to lag behind and chose the former between competing for users and regulatory uncertainty.</p><p>In March of this year, PayPal further liberalized its encrypted payment function, allowing 300 million users of its platform to pay through cryptocurrency and more than 2,900 merchants, allowing U.S. users to buy and sell cryptocurrency through their own accounts without any additional transaction fees. In May, PayPal announced that it would allow users to transfer cryptocurrency to third-party wallets, moving from internal circulation to external cooperation. In July, PayPal increased the weekly limit on cryptocurrency purchases that can be purchased to $100,000 per week.</p><p><b>Analyst Forecasts</b></p><p>According to Bloomberg consensus estimates, Visa's revenue in the third quarter of fiscal 2021 will be US $5.864 billion, adjusted net profit will be US $2.946 billion, and adjusted EPS will be US $1.35. Twenty-seven of the 42 analysts gave a buy rating, four gave a hold rating, and one gave a sell rating. The average price target is $272.31, which represents an upside of about 11% from the current stock price of $244.14.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4a4d2a275e802e3ed104d77faf723a0b\" tg-width=\"1917\" tg-height=\"487\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p><p>Analysts expect Paypal's second-quarter 2021 revenue to be US $6.269 billion, adjusted net income to be US $1.334 billion, and adjusted EPS to be US $1.12. Forty-six of the 52 analysts gave a buy rating, five gave a hold rating, and one gave a sell rating, with an average price target of $324.16, which represents an upside of about 7% from the current stock price of $303.69.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aebf2627c4e5317c17858d807c60603a\" tg-width=\"1917\" tg-height=\"490\" referrerpolicy=\"no-referrer\"><span>Source: Bloomberg</span></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/89069f6946fcd4b60cc54dd6110e6c34","relate_stocks":{"PYPL":"PayPal","V":"Visa"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172076155","content_text":"两大支付巨头将迎来最新业绩。Visa将于7月27日（下周二）美股盘后公布2021财年第三季度财报，Paypal将于7月28日（下周三）美股盘后公布2021年第二季度财报。今年以来，Visa股价涨近12%，Paypal涨近30%，相对的，标普500指数涨幅在16%左右。\n\n上季度回顾\nVisa与Paypal上季度业绩均超市场预期。\n财报显示，Visa第二财季营收为57.29亿美元，同比下降2%；净利润为30.26亿美元，同比下降2%；每股收益1.38美元，同比持平。Non-GAAP下，净利润为30亿美元，同比下降2%；每股收益为1.38美元，同比下降1%。Visa第二财季支付额同比增长11%；不包括欧洲内部交易的跨境交易额同比下降21%；跨境交易总额同比下降11%；处理交易总额为376亿，同比增长8%。\nPaypal第一季度营收60.33亿美元，同比增长31%，净利润为10.97亿美元，同比增长1206%；调整后每股收益为1.22美元，同比增长84%。Paypal一季度总支付额为2854.47亿美元，同比增长50%；第一季度净新增活跃账户1450万个，同比增长21%，总活跃账户达到了3.92亿个。该季度，PayPal处理交易量达44亿次，同比增长34%。\n\n本季度看点\n数字支付的日益普及为Vis和aPayPal等领先企业提供了巨大的推动力。两者都处于现金战争的前线，并且近年来轻而易举地击败了市场。但是，由于价值17万亿美元的交易仍然使用现金和支票进行，因此PayPal和Visa仍有很多机会在未来多年增长。\n营收保持高速增长，两者规模接近\nVisa的第三财季业绩可能与市场共识一致，因为发行人摩根大通和美国银行在6月季度报告的更强劲的信用卡交易量计入服务收入（约占总净额的一半），但滞后四分之一。尽管如此，在4月至5月的简单比较和政府刺激措施的帮助下，消费者支出同比增长将帮助Visa实现预期的21%的净收入增长。限制上行空间的可能是美国以外的疫情限制，这些限制对跨境支付构成挑战，预计以当地货币计算将增长近44%。旅行是一个关键组成部分，其中一项措施——TSA旅客吞吐量——同比下降18%，但比3月季度反弹50%。\n对PayPal第二季度收入增长19%的共识符合预期，这可能无法反映美国4月至5月强劲的电子商务支出，包括强劲的“先买后付”服务。如此强劲的势头可能支持了8月份继续提价的计划。根据SpendTrend的数据，零售电子商务支出在第二季度增长了9%，而第一季度为5.1%，第二季度下降了13%。据BitPay称，店内商户二维码接受度的提高、Venmo的新加密交易服务以及PayPal的加密支付也可能带来增量但很小的贡献，这并没有因比特币抛售而放缓。\n用户规模大vs增速快\nPayPal和Visa具有类似的优势。截至第一季度，PayPal的规模迅速扩大，拥有3.92亿个客户账户。与全球33.78亿张未偿还的Visa卡相比，这相形见绌，但PayPal的客户账户增长迅速，同比增长21%。这家数字支付提供商不断扩大的影响力赢得了与包括Visa在内的所有信用卡品牌的合作伙伴关系。\n有这么多卡在流通，Visa似乎没有很多增长机会，但它仍在寻找完成它的方法——这表明其潜在市场确实有多大。该公司继续增强其庞大的网络处理能力，这就是它赚钱的方式。Visa不发卡或承担信用风险，它只是在业务中收取处理交易的费用。上个季度处理交易总额为376亿，同比增长8%。\n几大支付巨头市值比较\n加密货币色彩\n全球拥有和使用加密货币的人越来越多，金融机构也要跟上步伐。但如比特币巨大的波动性，也会对它们的财务造成一定影响。\nVisa宣布与包括FTX和Coinbase等超过50家加密货币公司展开合作，容许用户通过Visa的支付网络，轻松使用加密货币进行交易。这个合作意味着不支持加密货币的商户，也可以通过Visa接受顾客以此进行交易。\n在2021上半内，与加密货币有关的Visa卡支付金额超过10亿美元。Visa表示这次合作令客户能够在全球超过7,000万商户，轻松转换和使用加密货币，而商户不需要作出任何改变，持卡人的加密货币会即时转换成特定的法定货币，因为所有操作都在后台完成，所以跟往常的Visa交易没有不同。\n相比Visa，PayPal无疑距离加密货币更近，可称为“加密货币概念股”。PayPal对加密领域的布局最早可追溯至2013年，与加密领域的三大支付处理商均开展过相应合作.PayPal进军加密货币主要原因有二，一是吸引用户，作为国际支付巨头，PayPal需要适应数字经济的发展，为用户在数字化时代提供更为便捷、高效的服务；二是抵御外部竞争，作为巨头的PayPal自然不甘落后，在争夺用户与监管的不确定性之间选择了前者。\n今年3月，PayPal进一步放开其加密支付功能，让其平台的3亿用户可以通过加密货币和2900多家商户进行支付，允许美国用户通过自己账户购买和出手加密货币，并且不需要任何额外交易费用。5月的时候，PayPal宣布允许用户将加密货币转移到第三方钱包，从内循环走向了外部合作。7月，PayPal将每周可以购买的加密货币购买限额提高至每周10万美元。\n分析师预测\n根据彭博一致预期，Visa 2021财年第三季度营收为58.64亿美元，调整后净利润为29.46亿美元，调整后EPS为1.35美元。42位分析师中27位给出买入评级，4位给出持有评级，1位给出卖出评级，平均目标价格272.31美元，较当前244.14美元的股价约有11%的上涨空间。\n来源：彭博\n分析师预期Paypal 2021年第二季度营收为62.69亿美元，调整后净利润为13.34亿美元，调整后EPS为1.12美元。52位分析师中46位给出买入评级，5位给出持有评级，1位给出卖出评级，平均目标价格324.16美元，较当前303.69美元的股价约有7%的上涨空间。\n来源：彭博","news_type":1,"symbols_score_info":{"V":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1702,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172366162,"gmtCreate":1626937703656,"gmtModify":1703480915627,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"Please 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up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177036846","repostId":"2153809933","repostType":4,"repost":{"id":"2153809933","kind":"highlight","pubTimestamp":1627105483,"share":"https://ttm.financial/m/news/2153809933?lang=en_US&edition=fundamental","pubTime":"2021-07-24 13:44","market":"hk","language":"zh","title":"The Fed's blockbuster July meeting is coming next week! What key points should we focus on?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153809933","media":"智通财经网","summary":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。","content":"<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</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>The Fed's blockbuster July meeting is coming next week! What key points should we focus on?</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 Fed's blockbuster July meeting is coming next week! What key points should we focus on?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2021-07-24 13:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve will hold its monetary policy meeting on July 27th and 28th. Although the stock market is still optimistic at present, it will meet in an uneasy atmosphere. In addition to the market's urgent need to know Powell's current attitude, what is more important is whether the Fed has the details of tapering policy.</p><p>Federal Reserve Chairman Jerome Powell made it clear during his recent testimony before Congress that he still sees inflationary pressures as largely temporary and that there is no urgent need to signal an impending policy shift. After all, employment levels are still more than 6 million lower than before the pandemic began, and the latest COVID-19 pandemic adds another layer of uncertainty that can be used to justify inaction.</p><p>But ING strategists talked about the upcoming Jackson Hole Federal Reserve Conference in late August, where Fed officials will begin preparing for tapering quantitative easing and refine it further at the FOMC meeting in September, before formally announcing it in December.</p><p>The economy is growing, although perhaps not as fast as some expected earlier this year. In addition, many enterprises urgently need workers, but millions of people are still unemployed. In recent weeks, vaccination rates have stagnated and the number of infections has risen. Despite this, the Fed is facing tightening pressure, such as tapering QE. But most people still don't expect the Fed to announce any new measures at next week's meeting, but the focus is on whether Powell will put the details of tapering \"on the table\" for discussion.</p><p>Labor market signs suggest the Fed's easing is far from over. Economists and market watchers had hoped that by April, when vaccines were widely available and many economic restrictions began to be lifted, employers would start hiring workers in droves. However, the reality is far less optimistic. According to the latest data from the Bureau of Labor Statistics, non-farm payroll growth has generally been unstable in recent months.</p><p>On the other hand, the current inflationary environment forces the Federal Reserve to consider reducing some of the loose stimulus policies that have been implemented. Three-month moving average data from the Atlanta Federal Reserve Bank showed that even though wages were 3.2% higher in June than a year earlier, inflation rose even higher. The consumer price index rose 5.4% in June compared to a year earlier, meaning inflation-adjusted earnings fell more than 2%. Even the core personal consumption expenditures (Core PCE) measure favored by the Federal Reserve, which excludes volatility in food and energy prices, rose 3.4% in May from a year earlier.</p><p>In fact, a month ago, the Fed raised its inflation forecast for 2021 to 3% from 2.2% in March, but even that may be overly optimistic. Inflation is likely to keep rising for the rest of the year. However, the Fed may not be in a hurry to intervene. In a speech last August, Powell said the Fed has made so many mistakes in the past that he is willing to let prices exceed the central bank's 2% target for a modest period of time before tightening.</p><p>Minutes from the Fed's most recent meeting, though, showed increased interest in discussing tapering bond purchases. The Fed is currently buying $120 billion worth of bonds every month, but a short-term rate hike may still be years away.</p><p>ING strategists believe that although the Federal Reserve is not expected to change policy at its July meeting, the market may hear more news about tapering bond purchase discussions that started in June. The discussion around the issue is likely to heat up at the Jackson Hole conference in August, as the Fed's current signals still favor earlier policy normalization. It talked about Chairman Powell's likelihood of suggesting that while discussions about tapering quantitative easing have begun, there is still a lot of time before they need to draw conclusions on the actions they will take.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/520599.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98a01b74d12bd250d548a4cdbf0d9091","relate_stocks":{"161125":"标普500","513500":"标普500ETF","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","UPRO":"三倍做多标普500ETF-ProShares",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF-ProShares","IVV":"标普500ETF-iShares","SH":"做空标普500-Proshares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","DDM":"2倍做多道指ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DJX":"1/100道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF"},"source_url":"http://www.zhitongcaijing.com/content/detail/520599.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2153809933","content_text":"美联储于7月27日和28日召开货币政策会议，虽然股市目前情绪还较乐观，它将在一种不安的气氛中开会。除了市场急需知道鲍威尔目前的态度，更重要的是美联储是否已经有了缩减政策细节。\n美联储主席鲍威尔最近在国会作证时明确表示，他仍然认为通胀压力在很大程度上是暂时的，没有任何迫切需要发出政策即将转变的信号。毕竟，就业水平仍比疫情开始前低600多万，而最新的新冠疫情增加了另一层不确定性，可以用来为不采取行动辩护。\n但是ING策略师谈到即将在8月底举行的杰克逊霍尔美联储会议(Jackson Hole Federal Reserve Conference)上，美联储官员将开始为缩减量化宽松做准备，并在9月份的FOMC会议上进一步细化，然后在12月份正式宣布。\n经济正在增长，尽管可能没有今年早些时候一些人预期的那么快。此外许多企业迫切需要工人，但仍有数百万人失业。最近几周，疫苗接种率停滞不前，感染病例数量上升。尽管如此美联储正面临着收紧压力，如缩减QE。但大部分人还是预计美联储不会在下周会议上宣布任何新举措，但焦点是鲍威尔是否会把缩减细节“摆上桌面”来讨论。\n劳动力市场迹象暗示美联储的宽松远没有结束。经济学家和市场观察人士曾希望，到4月份疫苗广泛普及、许多经济限制开始解除的时候，雇主将开始大批雇佣工人。然而，现实却远没有这么乐观。根据美国劳工统计局(Bureau of Labor Statistics)的最新数据显示非农增速在最近数月总体不是很稳定。\n另外一方面，当下通胀环境又让美联储不得不考虑缩减一些已经实施的宽松刺激政策。亚特兰大联邦储备银行的三个月移动平均数据显示，尽管6月份的工资比去年同期高出3.2%，但通货膨胀率却上升得更高。与去年同期相比，6月份消费者价格指数增长了5.4%，这意味着经通胀调整后的收入下降了2%以上。即便是美联储青睐的剔除食品和能源价格波动的核心个人消费支出(Core PCE)指标，5月份也较上年同期上涨了3.4%。\n事实上，一个月前，美联储将2021年的通胀预期从3月份的2.2%上调至3%，但即便如此也可能过于乐观。在今年余下的时间里，通胀可能会持续上升。不过，美联储也未必会不急于介入。在去年8月的一次讲话中，鲍威尔表示，美联储在过去犯了太多的错误，他愿意在收紧之前，让价格在一段适度的时间内超过央行2%的目标。\n不过，美联储最近一次会议的纪要显示，人们对讨论缩减债券购买规模的兴趣有所增加。美联储目前每月购买价值1200亿美元的债券，但短期加息可能仍需数年时间。\nING策略师认为尽管美联储预计在7月份的会议上不会改变政策，但市场可能会听到更多有关6月份开始的缩减购债讨论的消息。在8月份的杰克逊霍尔(Jackson Hole)会议上，围绕这一问题的讨论可能会升温，因为美联储目前发出的信号仍倾向于更早的政策正常化。其谈到鲍威尔主席可能会暗示，虽然有关缩减量化宽松的讨论已经开始，但在他们需要就他们将采取的行动得出结论之前，还有很多时间。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"ESmain":0.9,"PSQ":0.9,"QID":0.9,"OEX":0.9,"SDOW":0.9,"SQQQ":0.9,"DXD":0.9,"DOG":0.9,"SSO":0.9,"SPY":0.9,"NQmain":0.9,"IVV":0.9,"QLD":0.9,".DJI":0.9,"DJX":0.9,".IXIC":0.9,"MNQmain":0.9,"SPXU":0.9,"QQQ":0.9,"TQQQ":0.9,"OEF":0.9,"SH":0.9,"UDOW":0.9,"SDS":0.9,".SPX":0.9,"DDM":0.9}},"isVote":1,"tweetType":1,"viewCount":1954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176019376,"gmtCreate":1626844563595,"gmtModify":1703766285506,"author":{"id":"3580853960191633","authorId":"3580853960191633","name":"Eck","avatar":"https://static.tigerbbs.com/30fd88b35408f269d82b1d08a7d7683d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580853960191633","idStr":"3580853960191633"},"themes":[],"htmlText":"Upup&nbsp;","listText":"Upup&nbsp;","text":"Upup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176019376","repostId":"1188785006","repostType":4,"isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}