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DTnisiel

DTnisiel

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03-04

$Meta Platforms, Inc.(META)$

2022-12-12

$Apple(AAPL)$ downward

2022-12-09

$Sea Ltd(SE)$ upz

2022-12-07

$SINGTEL(Z74.SI)$ buy

2022-12-05

$Apple(AAPL)$ buy

2022-11-30

$Apple(AAPL)$ buy

2022-11-29

Ok

Sorry, the original content has been removed

2022-11-29

Ok

Is Sea Limited Stock Still a Buy After Jumping 36%?

2022-11-29

$Apple(AAPL)$ buy

2022-11-25

$Apple(AAPL)$ buy

2022-11-23

$Alphabet(GOOGL)$ buy

2022-11-22

$Apple(AAPL)$ buy

2022-11-20

$Grab Holdings(GRAB)$ buy

2022-11-16

$Apple(AAPL)$ buy

2022-11-15

$Apple(AAPL)$ buy

2022-11-15

Good

Singapore Airlines Is Redeeming The First Tranche of MCBs – Is That Good For Shareholders?

2022-11-14

$Grab Holdings(GRAB)$ buy

2022-11-13

$Apple(AAPL)$ buy

2022-11-11

$KEPPEL CORPORATION LIMITED(BN4.SI)$ buy

2022-11-09

$Apple(AAPL)$buy

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23:45","market":"us","language":"en","title":"Is Sea Limited Stock Still a Buy After Jumping 36%?","url":"https://stock-news.laohu8.com/highlight/detail?id=2286817995","media":"Motley Fool","summary":"Investors should look beyond a few days of market reaction when making investing decisions.","content":"<html><head></head><body><p>KEY POINTS</p><ul><li>Sea&#39;s third-quarter earnings report was similar to recent results.</li><li>But management is making a pivot toward achieving profitability.</li><li>The stock is attractive for patient believers in Sea&#39;s long-term potential.</li></ul><p><a href=\"https://laohu8.com/S/SE\">Sea Limited</a> has been a winning investment since its debut on the public markets in 2017, returning 229% compared to the S&amp;P 500&#39;s 57%. It has also been a volatile stock, and large price swings have not been uncommon.</p><p>In a recent example, Sea&#39;s Q3 of 2022 delighted Wall Street and shares popped 36% the day after the report. Even with some backsliding in the days since, the stock is still up 17% post-earnings.</p><p>For investors who have been considering buying shares, this sudden share price appreciation may make it seem like the opportunity has been missed. I don&#39;t believe that&#39;s the case at all. Let&#39;s dig in and see why.</p><h3>Taking the long view</h3><p>The recent price pop may be intimidating to investors considering buying shares, but a step back shows that even with the post-earnings jump, Sea Limited has had a rough go of it recently.</p><p><img src=\"https://static.tigerbbs.com/0ea7ff33fc27282c38918da1feea628f\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"/></p><p>SE data by YCharts</p><p>As this chart shows, while Sea has beaten the market over the long term, it&#39;s been a wild ride and shares are down drastically since late 2021. In fact, as of this writing, Sea&#39;s stock is down 85% off its high. It&#39;s important to understand that this drop includes the recent stock pop.</p><h3>But how has the business done?</h3><p>Sea Limited operates in three segments, and put simply the company is the preeminent gaming, e-commerce, and fintech company in Southeast Asia. During the market bull run that followed the COVID-19 crash of early 2020, Sea caught investors&#39; attention with its regular triple-digit revenue growth, which helped drive the parabolic share appreciation.</p><p>However, at the same time, Sea was unprofitable and mostly free-cash-flow negative. While this is not uncommon for businesses that are in growth mode, the market began to sour on Sea once the revenue growth slowed.</p><p>What&#39;s interesting about the recently reported Q3 is that the results weren&#39;t overly impressive. Revenue increased 17% year over year and the net loss was $569 million, a slight improvement from a loss of $573 million in Q3 of 2021.</p><p>In fact, while revenue has grown, Sea has seen increasing net losses and continued cash burn over the past three years. The fact that this quarter caused such a share jump is curious considering the report was essentially more of the same.</p><p><img src=\"https://static.tigerbbs.com/ef69d4e555394ff727b39835f70afa9d\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/></p><p>SE Revenue (TTM) data by YCharts</p><h3>Is the earning jump a signal or noise?</h3><p>So what caused the pop after earnings? Part of the reaction was likely that the company beat analyst guidance on the top and bottom lines, but more likely it was due to management&#39;s commentary on the earnings call.</p><p>As mentioned above, Sea hasn&#39;t made any meaningful progress toward profitability despite impressive revenue growth over several years. According to Sea&#39;s CEO Forrest Li, that could change in the coming quarters.</p><p>Citing the changing macroeconomic environment and his company&#39;s need to adapt in order to survive, Li said, &#34;We have entirely shifted our mindset and focus from growth, to achieving self-sufficiency and profitability as soon as possible without relying on any external funding.&#34;</p><p>While no definite timelines were provided by management, there have been reports of layoffs over the past six months, and the management team will be forgoing salaries until the company reaches self-sufficiency.</p><h3>Is Sea a buy right now?</h3><p>For investors who believe in the long-term potential of Sea&#39;s business segments, a focus on profitability could be good news for long-term shareholder returns. Additionally, from a valuation standpoint, now could be a great time to buy shares and see if that thesis plays out. Sea&#39;s current price-to-sales ratio is 2.5, only slightly above its all-time low of 1.9. That said, the path to profitability could take some time, so it may be worth giving Sea several quarters to prove it can walk the walk.</p><p>Bottom line, the recent 36% stock jump should not play into any investor&#39;s decision about buying shares. Any investing decision should be made based on Sea&#39; future potential and the price paid relative to that potential.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Sea Limited Stock Still a Buy After Jumping 36%?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Sea Limited Stock Still a Buy After Jumping 36%?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 23:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/11/27/is-sea-limited-stock-still-a-buy-after-jumping-36/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSSea's third-quarter earnings report was similar to recent results.But management is making a pivot toward achieving profitability.The stock is attractive for patient believers in Sea's long-...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/27/is-sea-limited-stock-still-a-buy-after-jumping-36/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://www.fool.com/investing/2022/11/27/is-sea-limited-stock-still-a-buy-after-jumping-36/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2286817995","content_text":"KEY POINTSSea's third-quarter earnings report was similar to recent results.But management is making a pivot toward achieving profitability.The stock is attractive for patient believers in Sea's long-term potential.Sea Limited has been a winning investment since its debut on the public markets in 2017, returning 229% compared to the S&P 500's 57%. It has also been a volatile stock, and large price swings have not been uncommon.In a recent example, Sea's Q3 of 2022 delighted Wall Street and shares popped 36% the day after the report. Even with some backsliding in the days since, the stock is still up 17% post-earnings.For investors who have been considering buying shares, this sudden share price appreciation may make it seem like the opportunity has been missed. I don't believe that's the case at all. Let's dig in and see why.Taking the long viewThe recent price pop may be intimidating to investors considering buying shares, but a step back shows that even with the post-earnings jump, Sea Limited has had a rough go of it recently.SE data by YChartsAs this chart shows, while Sea has beaten the market over the long term, it's been a wild ride and shares are down drastically since late 2021. In fact, as of this writing, Sea's stock is down 85% off its high. It's important to understand that this drop includes the recent stock pop.But how has the business done?Sea Limited operates in three segments, and put simply the company is the preeminent gaming, e-commerce, and fintech company in Southeast Asia. During the market bull run that followed the COVID-19 crash of early 2020, Sea caught investors' attention with its regular triple-digit revenue growth, which helped drive the parabolic share appreciation.However, at the same time, Sea was unprofitable and mostly free-cash-flow negative. While this is not uncommon for businesses that are in growth mode, the market began to sour on Sea once the revenue growth slowed.What's interesting about the recently reported Q3 is that the results weren't overly impressive. Revenue increased 17% year over year and the net loss was $569 million, a slight improvement from a loss of $573 million in Q3 of 2021.In fact, while revenue has grown, Sea has seen increasing net losses and continued cash burn over the past three years. The fact that this quarter caused such a share jump is curious considering the report was essentially more of the same.SE Revenue (TTM) data by YChartsIs the earning jump a signal or noise?So what caused the pop after earnings? Part of the reaction was likely that the company beat analyst guidance on the top and bottom lines, but more likely it was due to management's commentary on the earnings call.As mentioned above, Sea hasn't made any meaningful progress toward profitability despite impressive revenue growth over several years. According to Sea's CEO Forrest Li, that could change in the coming quarters.Citing the changing macroeconomic environment and his company's need to adapt in order to survive, Li said, \"We have entirely shifted our mindset and focus from growth, to achieving self-sufficiency and profitability as soon as possible without relying on any external funding.\"While no definite timelines were provided by management, there have been reports of layoffs over the past six months, and the management team will be forgoing salaries until the company reaches self-sufficiency.Is Sea a buy right now?For investors who believe in the long-term potential of Sea's business segments, a focus on profitability could be good news for long-term shareholder returns. Additionally, from a valuation standpoint, now could be a great time to buy shares and see if that thesis plays out. Sea's current price-to-sales ratio is 2.5, only slightly above its all-time low of 1.9. That said, the path to profitability could take some time, so it may be worth giving Sea several quarters to prove it can walk the walk.Bottom line, the recent 36% stock jump should not play into any investor's decision about buying shares. Any investing decision should be made based on Sea' future potential and the price paid relative to that potential.","news_type":1},"isVote":1,"tweetType":1,"viewCount":822,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966745493,"gmtCreate":1669672001912,"gmtModify":1676538219674,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576874199621356","authorIdStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","text":"$Apple(AAPL)$ 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buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9969450006","isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969543356,"gmtCreate":1668479681176,"gmtModify":1676538063345,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576874199621356","authorIdStr":"3576874199621356"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9969543356","repostId":"1155816609","repostType":2,"repost":{"id":"1155816609","pubTimestamp":1668477999,"share":"https://ttm.financial/m/news/1155816609?lang=&edition=fundamental","pubTime":"2022-11-15 10:06","market":"sg","language":"en","title":"Singapore Airlines Is Redeeming The First Tranche of MCBs – Is That Good For Shareholders?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155816609","media":"The Smart Investor","summary":"Singapore Airlines (SGX: C6L), or SIA, will be redeeming its first tranche of mandatory convertible ","content":"<html><head></head><body><p><b>Singapore Airlines</b> (SGX: C6L), or SIA, will be redeeming its first tranche of mandatory convertible bonds (MCBs).</p><p>These bonds were issued by the airline merely 2.5 years ago in 2020, near the peak of COVID-19 lockdowns. Back then, SIA had to pause most of its operations as passenger air travel was severely restricted due to the pandemic. Cash was short for SIA and it desperately needed to raise money. But things have improved significantly for the company this year as it reported a record profit in the first half of FY23 and free cash flow was also comfortably positive.</p><p>With its finances moving in the right direction, SIA’s management has decided that redeeming the airline’s first tranche of MCBs would benefit its shareholders. In this article, I explore whether the airline is making the right decision.</p><p>First, is redeeming the MCBs a good use of capital?</p><p>In my view, the short answer is yes. The MCBs are a costly source of capital for SIA and redeeming them early will save the company significant money.</p><p>The MCBs are zero-coupon bonds but have a set annual yield that starts at 4% before rising to 5%, and then 6%. What this means is that the longer the MCBs are left unredeemed, the more expensive it becomes for SIA to redeem them in the future.</p><p>Moreover, if left unredeemed for 10 years, these MCBs will automatically convert to shares. The conversion price of the shares is S$4.84 at the end of the 10-year mark, which is lower than SIA’s current share price. (A low conversion price is bad for shareholders as it means more shares are issued leading to more heavy dilution.) Bear in mind, the conversion price is not based on the principle paid. It is based on the principle <i>plus</i> the accumulated yield.</p><p>If converted to shares, the MCBs will heavily dilute SIA’s current shareholders, leaving them with a smaller stake in the entire company.</p><p>All of these lead me to conclude that redeeming the MCBs now seems like an efficient use of capital by SIA on behalf of its shareholders.</p><p>But should SIA conserve cash instead?</p><p>SIA has a history of producing irregular free cash flow.</p><p>I looked at 15 years’ worth of financial data for SIA (starting from 2007) to calculate the total free cash flow generated by the company. In that period, SIA generated a total free cash flow of a <i>negative</i> S$3 billion. Yes, you read that right – <i>negative</i> free cash flow.</p><p>In 15 years of operation, instead of generating positive cash flow that can be returned to shareholders, SIA actually expended cash.</p><p>This is mostly due to the high capital expense of maintaining its aircraft fleet. Capital expenditure for the expansion of SIA’s business was <b>only</b> S$5.6 billion, meaning the value of its fleet only increased by S$5.6 billion.</p><p>I say “only” because even if I exclude the expansion capital expenditure, SIA only generated S$2.6 billion in total free cash flow over 15 years. This is an average free cash flow of just S$174 million per year. Keep in mind that this free cash flow was generated off of a sizeable net PPE (plant, property, and equipment) base of around S$14 billion in 2007. The free cash flow generated is a pretty meagre return on assets.</p><p>What this shows is that SIA is a business that struggles to generate cash even if it is not actively expanding its fleet. This said, SIA does have a significant amount of cash on hand now.</p><p>With the cash raised over the past two years and the strong rebound in operations, SIA exited the September quarter this year with S$17.5 billion in cash. Redeeming its first tranche of MCBs will cost SIA around S$3.8 billion, around a fifth of its current cash balance.</p><p>The airline also has a relatively young fleet of planes now, which means its net capital expenditure requirement for maintenance is going to be relatively low in the near future, which should lead to higher free cash flows in the next few years.</p><p>And with the global recovery in air travel as countries around the world get a better handle on COVID-19, SIA’s operating cash flow is also likely to remain positive this year.</p><p>As such, I think it is fair to say that SIA does have the resources to retire the first tranche of its MCBs pretty comfortably despite its business’s poor historical ability to generate cash.</p><p><b>Can it retire the 2021 tranche of MCBs?</b></p><p>This brings us to the next question: Can SIA retire the second tranche of its MCBs which were issued in 2021? To recap, besides the S$3.5 billion raised in 2020 via the issuance of MCBs, SIA raised a further S$6.5 billion through this second tranche of MCBs in 2021.</p><p>Including interest, the total outlay to redeem the second tranche of MCBs will be slightly more than $6.5 billion (depending on when exactly SIA redeems the MCBs).</p><p>After redeeming the first tranche of its MCBs, SIA will be left with S$13.7 billion in cash. But the airline also has S$15.8 billion in debt (including long-term liabilities), which means it will have net debt (more debt than cash) of around $2.1 billion.</p><p>Bear in mind that the MCBs are not considered debt according to SIA’s books. Instead, they are considered equity as they have a feature where they are “mandatorily converted” in 10 years. So the debt on SIA’s balance sheet are <i>additional</i> borrowings which will eventually need to be repaid or refinanced. Given the small net cash position, I don’t think SIA should stretch its balance sheet to pay back the second tranche of MCBs yet.</p><p>SIA executives should also have wisened up to the fact that the company should keep some cash in its coffers to avoid another situation where they have to raise capital through the issuance of stock at heavily discounted prices (which happened during COVID-19) or through borrowing at usurious terms. A secondary offering or expensive debt in troubled times will be much more costly to shareholders than the MCBs.</p><p><b>The bottom line</b></p><p>All things considered, I think it is a good move by SIA’s management to redeem the first trance of the airline’s MCBs. The MCBs are an expensive source of capital and retiring them early will benefit SIA’s shareholders. The airline is also in a comfortable financial position to do so.</p><p>But the second tranche of MCBs is a different story altogether. After redeeming the first trance, and given SIA’s history of lumpy and meagre cash flow generation, I don’t think management will be willing to stretch its balance sheet to redeem the second tranche of MCBs just yet.</p><p>It is worth mentioning that SIA also decided to start paying a dividend again. I would have thought that management would prefer to retire the airline’s second tranche of MCBs before dishing out excess cash to shareholders.</p><p>One needs to remember that despite its poor cash flow generation in the past 15 years, SIA still paid dividends nearly every year. In hindsight, this was a mistake by management as the distributed cash would have been better off accumulated on the airline’s balance sheet to tide it through tough times such as during the COVID pandemic.</p><p>Ultimately, SIA paid dividends in the past 15 years, only to claw back all of the money (and more) from shareholders by issuing shares in 2020. This was certainly a case of one step forward, two steps back, for shareholders. Let’s hope for the sake of shareholders that history doesn’t repeat itself.</p></body></html>","source":"lsy1602567310727","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>Singapore Airlines Is Redeeming The First Tranche of MCBs – Is That Good For Shareholders?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Airlines Is Redeeming The First Tranche of MCBs – Is That Good For Shareholders?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-15 10:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/singapore-airlines-is-redeeming-the-first-tranche-of-mcbs-is-that-good-for-shareholders/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore Airlines (SGX: C6L), or SIA, will be redeeming its first tranche of mandatory convertible bonds (MCBs).These bonds were issued by the airline merely 2.5 years ago in 2020, near the peak of ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/singapore-airlines-is-redeeming-the-first-tranche-of-mcbs-is-that-good-for-shareholders/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://thesmartinvestor.com.sg/singapore-airlines-is-redeeming-the-first-tranche-of-mcbs-is-that-good-for-shareholders/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155816609","content_text":"Singapore Airlines (SGX: C6L), or SIA, will be redeeming its first tranche of mandatory convertible bonds (MCBs).These bonds were issued by the airline merely 2.5 years ago in 2020, near the peak of COVID-19 lockdowns. Back then, SIA had to pause most of its operations as passenger air travel was severely restricted due to the pandemic. Cash was short for SIA and it desperately needed to raise money. But things have improved significantly for the company this year as it reported a record profit in the first half of FY23 and free cash flow was also comfortably positive.With its finances moving in the right direction, SIA’s management has decided that redeeming the airline’s first tranche of MCBs would benefit its shareholders. In this article, I explore whether the airline is making the right decision.First, is redeeming the MCBs a good use of capital?In my view, the short answer is yes. The MCBs are a costly source of capital for SIA and redeeming them early will save the company significant money.The MCBs are zero-coupon bonds but have a set annual yield that starts at 4% before rising to 5%, and then 6%. What this means is that the longer the MCBs are left unredeemed, the more expensive it becomes for SIA to redeem them in the future.Moreover, if left unredeemed for 10 years, these MCBs will automatically convert to shares. The conversion price of the shares is S$4.84 at the end of the 10-year mark, which is lower than SIA’s current share price. (A low conversion price is bad for shareholders as it means more shares are issued leading to more heavy dilution.) Bear in mind, the conversion price is not based on the principle paid. It is based on the principle plus the accumulated yield.If converted to shares, the MCBs will heavily dilute SIA’s current shareholders, leaving them with a smaller stake in the entire company.All of these lead me to conclude that redeeming the MCBs now seems like an efficient use of capital by SIA on behalf of its shareholders.But should SIA conserve cash instead?SIA has a history of producing irregular free cash flow.I looked at 15 years’ worth of financial data for SIA (starting from 2007) to calculate the total free cash flow generated by the company. In that period, SIA generated a total free cash flow of a negative S$3 billion. Yes, you read that right – negative free cash flow.In 15 years of operation, instead of generating positive cash flow that can be returned to shareholders, SIA actually expended cash.This is mostly due to the high capital expense of maintaining its aircraft fleet. Capital expenditure for the expansion of SIA’s business was only S$5.6 billion, meaning the value of its fleet only increased by S$5.6 billion.I say “only” because even if I exclude the expansion capital expenditure, SIA only generated S$2.6 billion in total free cash flow over 15 years. This is an average free cash flow of just S$174 million per year. Keep in mind that this free cash flow was generated off of a sizeable net PPE (plant, property, and equipment) base of around S$14 billion in 2007. The free cash flow generated is a pretty meagre return on assets.What this shows is that SIA is a business that struggles to generate cash even if it is not actively expanding its fleet. This said, SIA does have a significant amount of cash on hand now.With the cash raised over the past two years and the strong rebound in operations, SIA exited the September quarter this year with S$17.5 billion in cash. Redeeming its first tranche of MCBs will cost SIA around S$3.8 billion, around a fifth of its current cash balance.The airline also has a relatively young fleet of planes now, which means its net capital expenditure requirement for maintenance is going to be relatively low in the near future, which should lead to higher free cash flows in the next few years.And with the global recovery in air travel as countries around the world get a better handle on COVID-19, SIA’s operating cash flow is also likely to remain positive this year.As such, I think it is fair to say that SIA does have the resources to retire the first tranche of its MCBs pretty comfortably despite its business’s poor historical ability to generate cash.Can it retire the 2021 tranche of MCBs?This brings us to the next question: Can SIA retire the second tranche of its MCBs which were issued in 2021? To recap, besides the S$3.5 billion raised in 2020 via the issuance of MCBs, SIA raised a further S$6.5 billion through this second tranche of MCBs in 2021.Including interest, the total outlay to redeem the second tranche of MCBs will be slightly more than $6.5 billion (depending on when exactly SIA redeems the MCBs).After redeeming the first tranche of its MCBs, SIA will be left with S$13.7 billion in cash. But the airline also has S$15.8 billion in debt (including long-term liabilities), which means it will have net debt (more debt than cash) of around $2.1 billion.Bear in mind that the MCBs are not considered debt according to SIA’s books. Instead, they are considered equity as they have a feature where they are “mandatorily converted” in 10 years. So the debt on SIA’s balance sheet are additional borrowings which will eventually need to be repaid or refinanced. Given the small net cash position, I don’t think SIA should stretch its balance sheet to pay back the second tranche of MCBs yet.SIA executives should also have wisened up to the fact that the company should keep some cash in its coffers to avoid another situation where they have to raise capital through the issuance of stock at heavily discounted prices (which happened during COVID-19) or through borrowing at usurious terms. A secondary offering or expensive debt in troubled times will be much more costly to shareholders than the MCBs.The bottom lineAll things considered, I think it is a good move by SIA’s management to redeem the first trance of the airline’s MCBs. The MCBs are an expensive source of capital and retiring them early will benefit SIA’s shareholders. The airline is also in a comfortable financial position to do so.But the second tranche of MCBs is a different story altogether. After redeeming the first trance, and given SIA’s history of lumpy and meagre cash flow generation, I don’t think management will be willing to stretch its balance sheet to redeem the second tranche of MCBs just yet.It is worth mentioning that SIA also decided to start paying a dividend again. I would have thought that management would prefer to retire the airline’s second tranche of MCBs before dishing out excess cash to shareholders.One needs to remember that despite its poor cash flow generation in the past 15 years, SIA still paid dividends nearly every year. In hindsight, this was a mistake by management as the distributed cash would have been better off accumulated on the airline’s balance sheet to tide it through tough times such as during the COVID pandemic.Ultimately, SIA paid dividends in the past 15 years, only to claw back all of the money (and more) from shareholders by issuing shares in 2020. This was certainly a case of one step forward, two steps back, for shareholders. Let’s hope for the sake of shareholders that history doesn’t repeat itself.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969632620,"gmtCreate":1668425332660,"gmtModify":1676538054536,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576874199621356","authorIdStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","text":"$Grab Holdings(GRAB)$ 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buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9969317158","isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9960621942,"gmtCreate":1668145228587,"gmtModify":1676538020357,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576874199621356","authorIdStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/BN4.SI\">$KEPPEL CORPORATION LIMITED(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","listText":"<a href=\"https://ttm.financial/S/BN4.SI\">$KEPPEL CORPORATION LIMITED(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>buy","text":"$KEPPEL CORPORATION LIMITED(BN4.SI)$ buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9960621942","isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9987467502,"gmtCreate":1667966779907,"gmtModify":1676537992072,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576874199621356","authorIdStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a><v-v data-views=\"1\"></v-v>buy","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a><v-v data-views=\"1\"></v-v>buy","text":"$Apple(AAPL)$buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987467502","isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9040709191,"gmtCreate":1655697970713,"gmtModify":1676535688428,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9040709191","repostId":"1177872379","repostType":2,"repost":{"id":"1177872379","pubTimestamp":1655697066,"share":"https://ttm.financial/m/news/1177872379?lang=&edition=fundamental","pubTime":"2022-06-20 11:51","market":"us","language":"en","title":"Alibaba Is Cheaper Than Ever","url":"https://stock-news.laohu8.com/highlight/detail?id=1177872379","media":"Seeking Alpha","summary":"SummaryAlibaba's annual operating cash flow has increased more than tenfold since 2013, surpassing t","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Alibaba&#39;s annual operating cash flow has increased more than tenfold since 2013, surpassing the $20 billion mark. Yet, the share price hasn&#39;t gone anywhere.</li><li>Moreover, Alibaba&#39;s cash balance has increased more than tenfold, from $5.3 billion in 2013 to more than $70 billion today. Yet, as mentioned above, the share price hasn&#39;t moved.</li><li>As a result, Alibaba&#39;s cash position now reflects ~25% of its market cap. This anomaly cannot last much longer, especially since the Chinese tech crackdown is finally easing.</li><li>Alibaba is dirt cheap, trading less than 50 cents on the dollar, and the company has authorized the biggest buyback in its history. The market will eventually come to its senses.</li><li>Alibaba, as a brand, ranks in the top 10 list globally, surpassing the likes of McDonald&#39;s, Tesla and Coca-Cola.</li></ul><p>Alibaba (NYSE:BABA) (OTCPK:BABAF) has essentially given up all of its gains since its IPO in 2014. In other words, Alibaba has been &#39;dead money&#39; for almost a decade. However, unlike its share price, fundamentally, Alibaba has made remarkable progress on multiple fronts. Most notably, Alibaba has turned into a cash flow machine, with cash from operations increasing tenfold since its IPO, which in turn has led to a soaring cash balance, making the company cash rich.</p><p>The main reason why Alibaba has entered severely distressed territory is due to the crisis around Chinese tech companies; the so-called &#39;China&#39;s tech crackdown&#39;. The good news is that this crackdown seems to be easing. The first positive signs were reported last month and just yesterday Reuters reported that China&#39;s central bank has apparentlyacceptedAnt Group&#39;s application to set up a financial holding company, which is seen as a key step to revive Jack Ma&#39;s fintech business stock market debut. This created enthusiasm, with Alibaba&#39;s share price jumping as much as 10%. However, shortly thereafter, Alibaba pared its gains as Chinese state media denied the Reuters report that the PBOC accepted Ant&#39;s application. In any event, it seems that we are amidst a positive sentiment shift, after years of pain, and this is already starting to be reflected in Alibaba&#39;s share price. So far this year, the general market indices are in severe turmoil, but Alibaba is faring somewhat better. Specifically, on a YTD basis, Alibaba is down &#39;only&#39; ~14%, outperforming the major US indices, with the tech-heavy Nasdaq being by far the worst performer, down almost 31%.</p><p><img src=\"https://static.tigerbbs.com/e0aaaa8416a2f128caa44f636a83ce1a\" tg-width=\"635\" tg-height=\"467\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p>Before we go into more detail to illustrate Alibaba&#39;s substantial progress since its IPO, it is important to note the following. Even though Alibaba has faced (and will likely continue to face) various macro and regulatory headwinds, it remains one of the world&#39;s leading brands. Based on data fromKantar BrandZ, Alibaba ranks in the top 10 list globally surpassing brands of the likes of McDonald&#39;s (MCD), Tesla (TSLA), Coca-Cola (KO) and NIKE (NKE). This is quite an achievement.</p><p><b>The World&#39;s Most Valuable Brands in 2021</b></p><p><img src=\"https://static.tigerbbs.com/76fab964f57c0f70c87f43d8ffe61974\" tg-width=\"640\" tg-height=\"324\" referrerpolicy=\"no-referrer\"/></p><p>Visual Capitalist</p><p>As per thelatest earnings release<i>,</i>Alibaba&#39;s financial performance remains impressive, despite reporting a single-digit increase in its fourth-quarter revenue, its slowest growth yet amid COVID-19 outbreaks. Revenue increased 9% as a result of lower demand due to COVID-19 outbreaks in March and logistics and supply chain disruptions at its core e-commerce platforms (Tmall and Taobao). That said, Alibaba’s sales growth still exceeded analyst estimates. Eventually, supply chain disruptions and COVID-19 lockdowns will ease and Alibaba&#39;s growth will accelerate.</p><p>Looking at the bigger picture, Alibaba is a much stronger company compared to its IPO days. Specifically, annual cash flow from operations surpassed the market $20 billion mark in 2018 and has remained above that level ever since.</p><p><b>Alibaba: Annual Cash Flow from Operations</b><img src=\"https://static.tigerbbs.com/afba1957e435da89228d501a1a15e39f\" tg-width=\"640\" tg-height=\"196\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha</p><p>Alibaba reached its peak annual cash flow from operations in 2021, surpassing $35 billion. I have little doubt that we will be breaking new records in the coming years, once things calm down a little. To put things into perspective, annual operating cash flow was just $2.3 billion in 2013. It is fair to say that the progress that has been made over the past decade is remarkable. What is also remarkable is the growing cash balance (i.e. Total Cash &amp; Short Term Investments), which exceeds $70 billion, and is also hovering around record high levels.</p><p><b>Alibaba: Total Cash And Short Term Investments</b><img src=\"https://static.tigerbbs.com/07dcc29bc2e191b1f712e2af79a263ce\" tg-width=\"640\" tg-height=\"198\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha</p><p>To put things into perspective, the cash balance was only $5.4 billion in 2013 and, due to strong operating cash flow, it surpassed the $70 billion mark in 2021, and has remained above that level ever since. This is a really nice position to be in.</p><p>Despite outstanding overall progress since the IPO, including the above-mentioned impressive financial results, the market cap has fallen to below $300 billion, and is hovering around record low levels. Looking at it differently,<b>Alibaba&#39;s cash position now reflects ~25% of its market cap</b>. I don&#39;t believe this anomaly will last for too long, and investors who accumulate at today&#39;s depressed prices stand to benefit tremendously, once the dust settles. It is a matter of when, not if. That said, it doesn&#39;t mean that it will be a smooth ride going forward. Yes, Alibaba is like a coil spring, but it can most certainly drop further. After all, market sentiment is terrible right now, and for good reasons. High inflation, interest rate hikes, the war in Ukraine and supply chain disruptions are amongst the biggest factors contributing to the market turmoil. As a value investor, the sell off has not made Alibaba a riskier investment. In contrast, investors can now buy one dollar for even less, which in a way makes Alibaba less risky. Based on Alibaba&#39;s massive cash pile and strong ongoing cash flow generation, I estimate that Alibaba is currently trading well below 50 cents on the dollar. Also, as long as the share price remains flattish, the discount to fair value will widen even more, as the cash balance will keep on increasing, all else constant, therefore adding to Alibaba&#39;s wealth. Also, it is important to note that Alibaba is better diversified compared to its IPO days. Don&#39;t discount its 1 billion global active consumers (spread across many online brands), high-margin cloud business and growing brick-and-mortar empire. My bet is that, over the next decade, Alibaba will be a much bigger company and even more diversified. However, even if Alibaba doesn&#39;t grow at all, it still is cheap today. I always stress test my investments, trying to be as prudent as possible. To this end, I assume the following scenario for Alibaba.</p><ul><li>Investment horizon of 10 years</li><li>average annual run rate in operating cash flow of $20-$25 billion (this is almost $10 billion less than the peak level experienced in 2021)</li><li>a static world, with zero growth; this means that over the next decade operating cash flow will remain constant at $20-$25 billion annually, and this cash will not be reinvested i.e. it will simply be accumulated on the balance sheet (in other words, zero revenue growth, zero innovation, zero M&amp;A activity, zero share buybacks, etc.).</li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Is Cheaper Than Ever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Is Cheaper Than Ever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-20 11:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4519179-alibaba-stock-cheaper-than-ever-baba-babaf><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlibaba's annual operating cash flow has increased more than tenfold since 2013, surpassing the $20 billion mark. Yet, the share price hasn't gone anywhere.Moreover, Alibaba's cash balance has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4519179-alibaba-stock-cheaper-than-ever-baba-babaf\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4519179-alibaba-stock-cheaper-than-ever-baba-babaf","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177872379","content_text":"SummaryAlibaba's annual operating cash flow has increased more than tenfold since 2013, surpassing the $20 billion mark. Yet, the share price hasn't gone anywhere.Moreover, Alibaba's cash balance has increased more than tenfold, from $5.3 billion in 2013 to more than $70 billion today. Yet, as mentioned above, the share price hasn't moved.As a result, Alibaba's cash position now reflects ~25% of its market cap. This anomaly cannot last much longer, especially since the Chinese tech crackdown is finally easing.Alibaba is dirt cheap, trading less than 50 cents on the dollar, and the company has authorized the biggest buyback in its history. The market will eventually come to its senses.Alibaba, as a brand, ranks in the top 10 list globally, surpassing the likes of McDonald's, Tesla and Coca-Cola.Alibaba (NYSE:BABA) (OTCPK:BABAF) has essentially given up all of its gains since its IPO in 2014. In other words, Alibaba has been 'dead money' for almost a decade. However, unlike its share price, fundamentally, Alibaba has made remarkable progress on multiple fronts. Most notably, Alibaba has turned into a cash flow machine, with cash from operations increasing tenfold since its IPO, which in turn has led to a soaring cash balance, making the company cash rich.The main reason why Alibaba has entered severely distressed territory is due to the crisis around Chinese tech companies; the so-called 'China's tech crackdown'. The good news is that this crackdown seems to be easing. The first positive signs were reported last month and just yesterday Reuters reported that China's central bank has apparentlyacceptedAnt Group's application to set up a financial holding company, which is seen as a key step to revive Jack Ma's fintech business stock market debut. This created enthusiasm, with Alibaba's share price jumping as much as 10%. However, shortly thereafter, Alibaba pared its gains as Chinese state media denied the Reuters report that the PBOC accepted Ant's application. In any event, it seems that we are amidst a positive sentiment shift, after years of pain, and this is already starting to be reflected in Alibaba's share price. So far this year, the general market indices are in severe turmoil, but Alibaba is faring somewhat better. Specifically, on a YTD basis, Alibaba is down 'only' ~14%, outperforming the major US indices, with the tech-heavy Nasdaq being by far the worst performer, down almost 31%.Data by YChartsBefore we go into more detail to illustrate Alibaba's substantial progress since its IPO, it is important to note the following. Even though Alibaba has faced (and will likely continue to face) various macro and regulatory headwinds, it remains one of the world's leading brands. Based on data fromKantar BrandZ, Alibaba ranks in the top 10 list globally surpassing brands of the likes of McDonald's (MCD), Tesla (TSLA), Coca-Cola (KO) and NIKE (NKE). This is quite an achievement.The World's Most Valuable Brands in 2021Visual CapitalistAs per thelatest earnings release,Alibaba's financial performance remains impressive, despite reporting a single-digit increase in its fourth-quarter revenue, its slowest growth yet amid COVID-19 outbreaks. Revenue increased 9% as a result of lower demand due to COVID-19 outbreaks in March and logistics and supply chain disruptions at its core e-commerce platforms (Tmall and Taobao). That said, Alibaba’s sales growth still exceeded analyst estimates. Eventually, supply chain disruptions and COVID-19 lockdowns will ease and Alibaba's growth will accelerate.Looking at the bigger picture, Alibaba is a much stronger company compared to its IPO days. Specifically, annual cash flow from operations surpassed the market $20 billion mark in 2018 and has remained above that level ever since.Alibaba: Annual Cash Flow from OperationsSeeking AlphaAlibaba reached its peak annual cash flow from operations in 2021, surpassing $35 billion. I have little doubt that we will be breaking new records in the coming years, once things calm down a little. To put things into perspective, annual operating cash flow was just $2.3 billion in 2013. It is fair to say that the progress that has been made over the past decade is remarkable. What is also remarkable is the growing cash balance (i.e. Total Cash & Short Term Investments), which exceeds $70 billion, and is also hovering around record high levels.Alibaba: Total Cash And Short Term InvestmentsSeeking AlphaTo put things into perspective, the cash balance was only $5.4 billion in 2013 and, due to strong operating cash flow, it surpassed the $70 billion mark in 2021, and has remained above that level ever since. This is a really nice position to be in.Despite outstanding overall progress since the IPO, including the above-mentioned impressive financial results, the market cap has fallen to below $300 billion, and is hovering around record low levels. Looking at it differently,Alibaba's cash position now reflects ~25% of its market cap. I don't believe this anomaly will last for too long, and investors who accumulate at today's depressed prices stand to benefit tremendously, once the dust settles. It is a matter of when, not if. That said, it doesn't mean that it will be a smooth ride going forward. Yes, Alibaba is like a coil spring, but it can most certainly drop further. After all, market sentiment is terrible right now, and for good reasons. High inflation, interest rate hikes, the war in Ukraine and supply chain disruptions are amongst the biggest factors contributing to the market turmoil. As a value investor, the sell off has not made Alibaba a riskier investment. In contrast, investors can now buy one dollar for even less, which in a way makes Alibaba less risky. Based on Alibaba's massive cash pile and strong ongoing cash flow generation, I estimate that Alibaba is currently trading well below 50 cents on the dollar. Also, as long as the share price remains flattish, the discount to fair value will widen even more, as the cash balance will keep on increasing, all else constant, therefore adding to Alibaba's wealth. Also, it is important to note that Alibaba is better diversified compared to its IPO days. Don't discount its 1 billion global active consumers (spread across many online brands), high-margin cloud business and growing brick-and-mortar empire. My bet is that, over the next decade, Alibaba will be a much bigger company and even more diversified. However, even if Alibaba doesn't grow at all, it still is cheap today. I always stress test my investments, trying to be as prudent as possible. To this end, I assume the following scenario for Alibaba.Investment horizon of 10 yearsaverage annual run rate in operating cash flow of $20-$25 billion (this is almost $10 billion less than the peak level experienced in 2021)a static world, with zero growth; this means that over the next decade operating cash flow will remain constant at $20-$25 billion annually, and this cash will not be reinvested i.e. it will simply be accumulated on the balance sheet (in other words, zero revenue growth, zero innovation, zero M&A activity, zero share buybacks, etc.).","news_type":1},"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9081289291,"gmtCreate":1650245073170,"gmtModify":1676534677336,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/YYY.SI\">$Lion-OSPL China L S$(YYY.SI)$</a>when will you be ready to leap?","listText":"<a href=\"https://ttm.financial/S/YYY.SI\">$Lion-OSPL China L S$(YYY.SI)$</a>when will you be ready to leap?","text":"$Lion-OSPL China L S$(YYY.SI)$when will you be ready to leap?","images":[{"img":"https://community-static.tradeup.com/news/540ce34b98886109e6bb0cb0d0d99ea5","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9081289291","isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3586468720153014","authorId":"3586468720153014","name":"秉汧","avatar":"https://static.tigerbbs.com/97d19b82de52c9e3b27647296a370ada","crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3586468720153014","idStr":"3586468720153014"},"content":"I adding more for long term… short term wise, it may still drop for as long as china is not out of covid yet","text":"I adding more for long term… short term wise, it may still drop for as long as china is not out of covid yet","html":"I adding more for long term… short term wise, it may still drop for as long as china is not out of covid yet"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9064585130,"gmtCreate":1652344263520,"gmtModify":1676535081970,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Good info. Thanks","listText":"Good info. Thanks","text":"Good info. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9064585130","repostId":"1134363744","repostType":4,"repost":{"id":"1134363744","pubTimestamp":1652340540,"share":"https://ttm.financial/m/news/1134363744?lang=&edition=fundamental","pubTime":"2022-05-12 15:29","market":"us","language":"en","title":"The \"Fed Put\" Has Finally Expired. What Investors Should Do Now","url":"https://stock-news.laohu8.com/highlight/detail?id=1134363744","media":"Barrons","summary":"Jerome Powell’s recent news conference lingers like a traumatic Zen koan. The Fed chairman said one ","content":"<html><head></head><body><p>Jerome Powell’s recent news conference lingers like a traumatic Zen koan. The Fed chairman said one thing, but what if it means something else and even he doesn’t realize it?</p><p>Powell affably told the reporters who follow him around that the Federal Reserve isn’t actively considering an interest-rate hike of three-quarters of a percentage point. Beginning the next day, the stock market has convulsed sharply lower as if the vast majority of investors think he cannot control inflation with only half-point rate hikes. The Cboe Volatility Index, or VIX, has surged above 30, a level that reflects widespread fear that the S&amp;P 500 index will keep falling over the next month.</p><p>Remember when former Fed chief Alan Greenspan—who never seemed to doubt anything—admitted during the 2007-09 financial crisis that his view of the world was wrong? Powell might be forced by inflation data to change his mind about the magnitude of future rate hikes. If the Fed becomes more hawkish than he has conveyed, he might be careening into a Greenspan moment without really knowing what he has gotten himself into.</p><p>Investors must now ponder Powell’s estimation of his ability to tamp down inflation with half-point hikes. After all, inflation is surging and some of the causes are beyond anyone’s control, including the recent weaponizing of commodities, Covid-19, and Ukraine war. Is it possible to temper those wild forces with 50-basis-point rate hikes, as the Fed apparently believes?</p><p>The debate about what might happen next has come to dominate the market narrative. Corporate earnings season is still afoot, and though the results have been reasonably good, no one really cares. It’s the future that matters.</p><p>The effortless rallies that largely characterized the stock market since March 2009 belong to history. The Fed put, as we have long predicted,has expired. Investors are no longer encouraged by the Fed’s easy-money policies to venture further and further onto the so-called risk curve. Risk is now something that must be managed rather than embraced.</p><p>One way to manage risk is to sell call options on stocks you own, a strategy known as covered-call writing. Selling those calls will generate some income and even hedge the stock by the amount of money received for the sale. When the VIX is high, investors generally get paid more for selling options than when the VIX is low.</p><p>The standard approach to this conservative strategy is to sell calls that are about 10% higher than the associated strike price. Pick calls that expire in six weeks or less. The goal is to sell calls that are ideally trading for at least $1, or that represent a significant percentage of the associated stock price. Many investors use the strategy to generate income and reduce risk.</p><p>Consider Tyson Foods (ticker: TSN), a stock we have previously highlighted as a way to benefit from inflation. The company just reported earnings and the stock rose on the news.</p><p>With Tyson shares at $90.20, investors could sell the June $100 call for about 60 cents. If the stock is below the strike price at expiration, investors can keep the call premium. Should the stock price exceed the strike price, investors are obligated to sell the stock at the $100 strike, or they can roll the call to another expiration to avoid assignment.</p><p>The great risk to the covered-call strategy is that the stock price surges far above the strike price. The risk of that is arguably low in the current macro environment, but don’t let that create false confidence. You don’t want your own Greenspan moment.</p></body></html>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The \"Fed Put\" Has Finally Expired. What Investors Should Do Now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe \"Fed Put\" Has Finally Expired. What Investors Should Do Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-12 15:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-fed-put-has-finally-expired-what-investors-should-do-now-51652338801?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Jerome Powell’s recent news conference lingers like a traumatic Zen koan. The Fed chairman said one thing, but what if it means something else and even he doesn’t realize it?Powell affably told the ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-fed-put-has-finally-expired-what-investors-should-do-now-51652338801?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/the-fed-put-has-finally-expired-what-investors-should-do-now-51652338801?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134363744","content_text":"Jerome Powell’s recent news conference lingers like a traumatic Zen koan. The Fed chairman said one thing, but what if it means something else and even he doesn’t realize it?Powell affably told the reporters who follow him around that the Federal Reserve isn’t actively considering an interest-rate hike of three-quarters of a percentage point. Beginning the next day, the stock market has convulsed sharply lower as if the vast majority of investors think he cannot control inflation with only half-point rate hikes. The Cboe Volatility Index, or VIX, has surged above 30, a level that reflects widespread fear that the S&P 500 index will keep falling over the next month.Remember when former Fed chief Alan Greenspan—who never seemed to doubt anything—admitted during the 2007-09 financial crisis that his view of the world was wrong? Powell might be forced by inflation data to change his mind about the magnitude of future rate hikes. If the Fed becomes more hawkish than he has conveyed, he might be careening into a Greenspan moment without really knowing what he has gotten himself into.Investors must now ponder Powell’s estimation of his ability to tamp down inflation with half-point hikes. After all, inflation is surging and some of the causes are beyond anyone’s control, including the recent weaponizing of commodities, Covid-19, and Ukraine war. Is it possible to temper those wild forces with 50-basis-point rate hikes, as the Fed apparently believes?The debate about what might happen next has come to dominate the market narrative. Corporate earnings season is still afoot, and though the results have been reasonably good, no one really cares. It’s the future that matters.The effortless rallies that largely characterized the stock market since March 2009 belong to history. The Fed put, as we have long predicted,has expired. Investors are no longer encouraged by the Fed’s easy-money policies to venture further and further onto the so-called risk curve. Risk is now something that must be managed rather than embraced.One way to manage risk is to sell call options on stocks you own, a strategy known as covered-call writing. Selling those calls will generate some income and even hedge the stock by the amount of money received for the sale. When the VIX is high, investors generally get paid more for selling options than when the VIX is low.The standard approach to this conservative strategy is to sell calls that are about 10% higher than the associated strike price. Pick calls that expire in six weeks or less. The goal is to sell calls that are ideally trading for at least $1, or that represent a significant percentage of the associated stock price. Many investors use the strategy to generate income and reduce risk.Consider Tyson Foods (ticker: TSN), a stock we have previously highlighted as a way to benefit from inflation. The company just reported earnings and the stock rose on the news.With Tyson shares at $90.20, investors could sell the June $100 call for about 60 cents. If the stock is below the strike price at expiration, investors can keep the call premium. Should the stock price exceed the strike price, investors are obligated to sell the stock at the $100 strike, or they can roll the call to another expiration to avoid assignment.The great risk to the covered-call strategy is that the stock price surges far above the strike price. The risk of that is arguably low in the current macro environment, but don’t let that create false confidence. You don’t want your own Greenspan moment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062547967,"gmtCreate":1652089818459,"gmtModify":1676535027012,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/YYY.SI\">$Lion-OSPL China L S$(YYY.SI)$</a>so weak","listText":"<a href=\"https://ttm.financial/S/YYY.SI\">$Lion-OSPL China L S$(YYY.SI)$</a>so weak","text":"$Lion-OSPL China L S$(YYY.SI)$so weak","images":[{"img":"https://community-static.tradeup.com/news/535aaf5cc4d4dd4bbfa0eb152429f628","width":"1440","height":"4794"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062547967","isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9911939360,"gmtCreate":1664109560450,"gmtModify":1676537391559,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9911939360","repostId":"2269490734","repostType":4,"repost":{"id":"2269490734","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1664066508,"share":"https://ttm.financial/m/news/2269490734?lang=&edition=fundamental","pubTime":"2022-09-25 08:41","market":"us","language":"en","title":"If You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”","url":"https://stock-news.laohu8.com/highlight/detail?id=2269490734","media":"Dow Jones","summary":"Forget everything you think you know about the relationship between interest rates and the stock market.Forget everything you think you know about the relationship between interest rates and the stock","content":"<html><head></head><body><p>Forget everything you think you know about the relationship between interest rates and the stock market.</p><p>Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.</p><p>It would be important to challenge this notion at any time, but especially in light of the U.S. market&#39;s decline this past week following the Federal Reserve&#39;s most recent interest-rate hike announcement.</p><p>To show why higher interest rates aren&#39;t necessarily bad for equities, I compared the predictive power of the following two valuation indicators:</p><p>If higher interest rates were always bad for stocks, then the Fed Model&#39;s track record would be superior to that of the earnings yield.</p><p>It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market&#39;s subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University&#39;s finance professor Robert Shiller.</p><p><img src=\"https://static.tigerbbs.com/64984acf0f40a1a5e886ef773747472a\" tg-width=\"939\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/></p><p>In other words, the ability to predict the stock market&#39;s five- and 10-year returns goes down when taking interest rates into account.</p><h3>Money illusion</h3><p>These results are so surprising that it&#39;s important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years&#39; corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it&#39;s only half the story.</p><p>The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as &#34;inflation illusion&#34; -- confusing nominal with real, or inflation-adjusted, values.</p><p>According to research conducted by Warr, inflation&#39;s impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.</p><p>Investors were guilty of inflation illusion when they reacted to the Fed&#39;s latest interest rate announcement by selling stocks.</p><p>None of this means that the bear market shouldn&#39;t continue, or that equities aren&#39;t overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.</p></body></html>","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>If You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-25 08:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Forget everything you think you know about the relationship between interest rates and the stock market.</p><p>Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.</p><p>It would be important to challenge this notion at any time, but especially in light of the U.S. market&#39;s decline this past week following the Federal Reserve&#39;s most recent interest-rate hike announcement.</p><p>To show why higher interest rates aren&#39;t necessarily bad for equities, I compared the predictive power of the following two valuation indicators:</p><p>If higher interest rates were always bad for stocks, then the Fed Model&#39;s track record would be superior to that of the earnings yield.</p><p>It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market&#39;s subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University&#39;s finance professor Robert Shiller.</p><p><img src=\"https://static.tigerbbs.com/64984acf0f40a1a5e886ef773747472a\" tg-width=\"939\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/></p><p>In other words, the ability to predict the stock market&#39;s five- and 10-year returns goes down when taking interest rates into account.</p><h3>Money illusion</h3><p>These results are so surprising that it&#39;s important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years&#39; corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it&#39;s only half the story.</p><p>The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as &#34;inflation illusion&#34; -- confusing nominal with real, or inflation-adjusted, values.</p><p>According to research conducted by Warr, inflation&#39;s impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.</p><p>Investors were guilty of inflation illusion when they reacted to the Fed&#39;s latest interest rate announcement by selling stocks.</p><p>None of this means that the bear market shouldn&#39;t continue, or that equities aren&#39;t overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2269490734","content_text":"Forget everything you think you know about the relationship between interest rates and the stock market.Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.It would be important to challenge this notion at any time, but especially in light of the U.S. market's decline this past week following the Federal Reserve's most recent interest-rate hike announcement.To show why higher interest rates aren't necessarily bad for equities, I compared the predictive power of the following two valuation indicators:If higher interest rates were always bad for stocks, then the Fed Model's track record would be superior to that of the earnings yield.It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market's subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University's finance professor Robert Shiller.In other words, the ability to predict the stock market's five- and 10-year returns goes down when taking interest rates into account.Money illusionThese results are so surprising that it's important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years' corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it's only half the story.The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as \"inflation illusion\" -- confusing nominal with real, or inflation-adjusted, values.According to research conducted by Warr, inflation's impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.Investors were guilty of inflation illusion when they reacted to the Fed's latest interest rate announcement by selling stocks.None of this means that the bear market shouldn't continue, or that equities aren't overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.","news_type":1},"isVote":1,"tweetType":1,"viewCount":48,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9930571610,"gmtCreate":1661990649132,"gmtModify":1676536618069,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9930571610","repostId":"2264232068","repostType":2,"repost":{"id":"2264232068","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1661990277,"share":"https://ttm.financial/m/news/2264232068?lang=&edition=fundamental","pubTime":"2022-09-01 07:57","market":"us","language":"en","title":"\"Prepare for an Epic Finale\": Jeremy Grantham Warns \"Tragedy\" Looms as \"Superbubble\" May Burst","url":"https://stock-news.laohu8.com/highlight/detail?id=2264232068","media":"Dow Jones","summary":"Jeremy Grantham, co-founder of GMO, warns that a “superbubble” now appears between its third and fin","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e30283c0fa974f75392c6e017fc03beb\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Jeremy Grantham, co-founder of GMO, warns that a “superbubble” now appears between its third and final act.</span></p><p>A &#34;superbubble&#34; appears dangerously near its &#34;final act&#34; after the recent rally in U.S. stocks lured some investors back into the market just ahead of potential &#34;tragedy,&#34; according to Jeremy Grantham, the legendary co-founder of Boston-based investment firm GMO.</p><p>Grantham, who has repeatedly warned investors of a bubble in markets, said in a paper Wednesday that &#34;superbubbles are events unlike any others&#34; and share some common features.</p><p>&#34;One of those features is the bear-market rally after the initial derating stage of the decline but before the economy has clearly begun to deteriorate, as it always has when superbubbles burst,&#34; said Grantham. &#34;This, in all three previous cases, recovered over half the market&#39;s initial losses, luring unwary investors back just in time for the market to turn down again, only more viciously, and the economy to weaken. This summer&#39;s rally has so far perfectly fit the pattern.&#34;</p><p>The U.S. stock market tumbled during the first half of 2022 as investors anticipated soaring inflation would lead to a hawkish Federal Reserve. The S&amp;P 500 closed at a low this year of 3,666.77 on June 16, before surging over the summer along with other stock benchmarks amid investor optimism over signs that the highest inflation in decades was easing.</p><p>Fed Chair Jerome Powell recently ended that rally with his Aug. 26 speech at the Jackson Hole, Wyo., economic symposium, wiping out this month&#39;s gains as he reiterated that the central bank would keep tightening its monetary policy to tame soaring inflation. He warned that the Fed would battle inflation until the job was done, even as it may bring pain to households and businesses.</p><p>&#34;The U.S. stock market remains very expensive and an increase in inflation like the one this year has always hurt multiples, although more slowly than normal this time,&#34; Grantham said. &#34;But now the fundamentals have also started to deteriorate enormously and surprisingly: Between COVID in China, war in Europe, food and energy crises, record fiscal tightening, and more, the outlook is far grimmer than could have been foreseen in January.&#34;</p><p>Grantham had warned in a January paper that the U.S. was approaching the end of a &#34;superbubble&#34; spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID-19 pandemic.</p><p>In his paper Wednesday, Grantham said &#34;the current superbubble features an unprecedentedly dangerous mix of cross-asset overvaluation (with bonds, housing, and stocks all critically overpriced and now rapidly losing momentum), commodity shock, and Fed hawkishness.&#34;</p><p>The bursting of superbubbles has multiple stages, according to Grantham.</p><p>First the bubble forms and then a &#34;setback&#34; in valuations -- such as the one seen in the first half of 2022 -- occurs as investors come to realize &#34;perfection&#34; won&#39;t last, he said. &#34;Then there is what we have just seen -- the bear-market rally,&#34; before finally &#34;fundamentals deteriorate&#34; and the market drops to a low.</p><p>&#34;Bear-market rallies in superbubbles are easier and faster than any other rallies,&#34; he said. &#34;Investors surmise, this stock sold for $100 6 months ago, so now at $50, or $60, or $70, it must be cheap.&#34;</p><p>At the intraday peak on Aug. 16, the S&amp;P 500 had made back 58% of its losses since its June low, according to Grantham. That was &#34;eerily similar to these other historic superbubbles.&#34;</p><p>For example, &#34;from the November low in 1929 to the April 1930 high, the market rallied 46% -- a 55% recovery of the loss from the peak,&#34; he said.</p><p>He also highlighted  the &#34;speed and scale&#34; of other bear-market rallies.</p><p>&#34;In 1973, the summer rally after the initial decline recovered 59% of the S&amp;P 500&#39;s total loss from the high,&#34; he wrote. More recently, in 2000, Grantham wrote that &#34;the Nasdaq (which had been the main event of the tech bubble) recovered 60% of its initial losses in just 2 months.&#34;</p><p>U.S. stocks ended lower Wednesday, with all three major benchmarks booking a fourth straight day of declines on the final day of August. The Dow Jones Industrial Average  dropped 0.9%, while the S&amp;P 500  fell 0.8% and the technology-heavy Nasdaq Composite  slid 0.6%.</p><p>&#34;Economic data inevitably lags major turning points in the economy,&#34; said Grantham. &#34;To make matters worse, at the turn of events like 2000 and 2007, data series like corporate profits and employment can subsequently be massively revised downwards.&#34;</p><p>&#34;It is during this lag that the bear-market rally typically occurs,&#34; he said. And now the current superbubble appears to have &#34;paused between the third and final act,&#34; according to Grantham.</p><p>&#34;Prepare for an epic finale,&#34; he said. &#34;If history repeats, the play will once again be a Tragedy. We must hope this time for a minor one.&#34;</p></body></html>","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>\"Prepare for an Epic Finale\": Jeremy Grantham Warns \"Tragedy\" Looms as \"Superbubble\" May Burst</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Prepare for an Epic Finale\": Jeremy Grantham Warns \"Tragedy\" Looms as \"Superbubble\" May Burst\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-01 07:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e30283c0fa974f75392c6e017fc03beb\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Jeremy Grantham, co-founder of GMO, warns that a “superbubble” now appears between its third and final act.</span></p><p>A &#34;superbubble&#34; appears dangerously near its &#34;final act&#34; after the recent rally in U.S. stocks lured some investors back into the market just ahead of potential &#34;tragedy,&#34; according to Jeremy Grantham, the legendary co-founder of Boston-based investment firm GMO.</p><p>Grantham, who has repeatedly warned investors of a bubble in markets, said in a paper Wednesday that &#34;superbubbles are events unlike any others&#34; and share some common features.</p><p>&#34;One of those features is the bear-market rally after the initial derating stage of the decline but before the economy has clearly begun to deteriorate, as it always has when superbubbles burst,&#34; said Grantham. &#34;This, in all three previous cases, recovered over half the market&#39;s initial losses, luring unwary investors back just in time for the market to turn down again, only more viciously, and the economy to weaken. This summer&#39;s rally has so far perfectly fit the pattern.&#34;</p><p>The U.S. stock market tumbled during the first half of 2022 as investors anticipated soaring inflation would lead to a hawkish Federal Reserve. The S&amp;P 500 closed at a low this year of 3,666.77 on June 16, before surging over the summer along with other stock benchmarks amid investor optimism over signs that the highest inflation in decades was easing.</p><p>Fed Chair Jerome Powell recently ended that rally with his Aug. 26 speech at the Jackson Hole, Wyo., economic symposium, wiping out this month&#39;s gains as he reiterated that the central bank would keep tightening its monetary policy to tame soaring inflation. He warned that the Fed would battle inflation until the job was done, even as it may bring pain to households and businesses.</p><p>&#34;The U.S. stock market remains very expensive and an increase in inflation like the one this year has always hurt multiples, although more slowly than normal this time,&#34; Grantham said. &#34;But now the fundamentals have also started to deteriorate enormously and surprisingly: Between COVID in China, war in Europe, food and energy crises, record fiscal tightening, and more, the outlook is far grimmer than could have been foreseen in January.&#34;</p><p>Grantham had warned in a January paper that the U.S. was approaching the end of a &#34;superbubble&#34; spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID-19 pandemic.</p><p>In his paper Wednesday, Grantham said &#34;the current superbubble features an unprecedentedly dangerous mix of cross-asset overvaluation (with bonds, housing, and stocks all critically overpriced and now rapidly losing momentum), commodity shock, and Fed hawkishness.&#34;</p><p>The bursting of superbubbles has multiple stages, according to Grantham.</p><p>First the bubble forms and then a &#34;setback&#34; in valuations -- such as the one seen in the first half of 2022 -- occurs as investors come to realize &#34;perfection&#34; won&#39;t last, he said. &#34;Then there is what we have just seen -- the bear-market rally,&#34; before finally &#34;fundamentals deteriorate&#34; and the market drops to a low.</p><p>&#34;Bear-market rallies in superbubbles are easier and faster than any other rallies,&#34; he said. &#34;Investors surmise, this stock sold for $100 6 months ago, so now at $50, or $60, or $70, it must be cheap.&#34;</p><p>At the intraday peak on Aug. 16, the S&amp;P 500 had made back 58% of its losses since its June low, according to Grantham. That was &#34;eerily similar to these other historic superbubbles.&#34;</p><p>For example, &#34;from the November low in 1929 to the April 1930 high, the market rallied 46% -- a 55% recovery of the loss from the peak,&#34; he said.</p><p>He also highlighted  the &#34;speed and scale&#34; of other bear-market rallies.</p><p>&#34;In 1973, the summer rally after the initial decline recovered 59% of the S&amp;P 500&#39;s total loss from the high,&#34; he wrote. More recently, in 2000, Grantham wrote that &#34;the Nasdaq (which had been the main event of the tech bubble) recovered 60% of its initial losses in just 2 months.&#34;</p><p>U.S. stocks ended lower Wednesday, with all three major benchmarks booking a fourth straight day of declines on the final day of August. The Dow Jones Industrial Average  dropped 0.9%, while the S&amp;P 500  fell 0.8% and the technology-heavy Nasdaq Composite  slid 0.6%.</p><p>&#34;Economic data inevitably lags major turning points in the economy,&#34; said Grantham. &#34;To make matters worse, at the turn of events like 2000 and 2007, data series like corporate profits and employment can subsequently be massively revised downwards.&#34;</p><p>&#34;It is during this lag that the bear-market rally typically occurs,&#34; he said. And now the current superbubble appears to have &#34;paused between the third and final act,&#34; according to Grantham.</p><p>&#34;Prepare for an epic finale,&#34; he said. &#34;If history repeats, the play will once again be a Tragedy. We must hope this time for a minor one.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500ETF","SSO":"两倍做多标普500ETF","BK4504":"桥水持仓","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","SH":"标普500反向ETF",".SPX":"S&P 500 Index","IVV":"标普500指数ETF","BK4534":"瑞士信贷持仓","BK4581":"高盛持仓","OEX":"标普100","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2264232068","content_text":"Jeremy Grantham, co-founder of GMO, warns that a “superbubble” now appears between its third and final act.A \"superbubble\" appears dangerously near its \"final act\" after the recent rally in U.S. stocks lured some investors back into the market just ahead of potential \"tragedy,\" according to Jeremy Grantham, the legendary co-founder of Boston-based investment firm GMO.Grantham, who has repeatedly warned investors of a bubble in markets, said in a paper Wednesday that \"superbubbles are events unlike any others\" and share some common features.\"One of those features is the bear-market rally after the initial derating stage of the decline but before the economy has clearly begun to deteriorate, as it always has when superbubbles burst,\" said Grantham. \"This, in all three previous cases, recovered over half the market's initial losses, luring unwary investors back just in time for the market to turn down again, only more viciously, and the economy to weaken. This summer's rally has so far perfectly fit the pattern.\"The U.S. stock market tumbled during the first half of 2022 as investors anticipated soaring inflation would lead to a hawkish Federal Reserve. The S&P 500 closed at a low this year of 3,666.77 on June 16, before surging over the summer along with other stock benchmarks amid investor optimism over signs that the highest inflation in decades was easing.Fed Chair Jerome Powell recently ended that rally with his Aug. 26 speech at the Jackson Hole, Wyo., economic symposium, wiping out this month's gains as he reiterated that the central bank would keep tightening its monetary policy to tame soaring inflation. He warned that the Fed would battle inflation until the job was done, even as it may bring pain to households and businesses.\"The U.S. stock market remains very expensive and an increase in inflation like the one this year has always hurt multiples, although more slowly than normal this time,\" Grantham said. \"But now the fundamentals have also started to deteriorate enormously and surprisingly: Between COVID in China, war in Europe, food and energy crises, record fiscal tightening, and more, the outlook is far grimmer than could have been foreseen in January.\"Grantham had warned in a January paper that the U.S. was approaching the end of a \"superbubble\" spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID-19 pandemic.In his paper Wednesday, Grantham said \"the current superbubble features an unprecedentedly dangerous mix of cross-asset overvaluation (with bonds, housing, and stocks all critically overpriced and now rapidly losing momentum), commodity shock, and Fed hawkishness.\"The bursting of superbubbles has multiple stages, according to Grantham.First the bubble forms and then a \"setback\" in valuations -- such as the one seen in the first half of 2022 -- occurs as investors come to realize \"perfection\" won't last, he said. \"Then there is what we have just seen -- the bear-market rally,\" before finally \"fundamentals deteriorate\" and the market drops to a low.\"Bear-market rallies in superbubbles are easier and faster than any other rallies,\" he said. \"Investors surmise, this stock sold for $100 6 months ago, so now at $50, or $60, or $70, it must be cheap.\"At the intraday peak on Aug. 16, the S&P 500 had made back 58% of its losses since its June low, according to Grantham. That was \"eerily similar to these other historic superbubbles.\"For example, \"from the November low in 1929 to the April 1930 high, the market rallied 46% -- a 55% recovery of the loss from the peak,\" he said.He also highlighted  the \"speed and scale\" of other bear-market rallies.\"In 1973, the summer rally after the initial decline recovered 59% of the S&P 500's total loss from the high,\" he wrote. More recently, in 2000, Grantham wrote that \"the Nasdaq (which had been the main event of the tech bubble) recovered 60% of its initial losses in just 2 months.\"U.S. stocks ended lower Wednesday, with all three major benchmarks booking a fourth straight day of declines on the final day of August. The Dow Jones Industrial Average  dropped 0.9%, while the S&P 500  fell 0.8% and the technology-heavy Nasdaq Composite  slid 0.6%.\"Economic data inevitably lags major turning points in the economy,\" said Grantham. \"To make matters worse, at the turn of events like 2000 and 2007, data series like corporate profits and employment can subsequently be massively revised downwards.\"\"It is during this lag that the bear-market rally typically occurs,\" he said. And now the current superbubble appears to have \"paused between the third and final act,\" according to Grantham.\"Prepare for an epic finale,\" he said. \"If history repeats, the play will once again be a Tragedy. We must hope this time for a minor one.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9076370676,"gmtCreate":1657803927695,"gmtModify":1676536064020,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076370676","repostId":"1132300550","repostType":4,"repost":{"id":"1132300550","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1657800872,"share":"https://ttm.financial/m/news/1132300550?lang=&edition=fundamental","pubTime":"2022-07-14 20:14","market":"us","language":"en","title":"Pre-Bell｜U.S. Stock Futures Fell Over 1%; This Telecom Stock Crashed 9%","url":"https://stock-news.laohu8.com/highlight/detail?id=1132300550","media":"Tiger Newspress","summary":"U.S. stock futures fell Thursday as traders assess the possibility of even tighter U.S. monetary pol","content":"<html><head></head><body><p>U.S. stock futures fell Thursday as traders assess the possibility of even tighter U.S. monetary policy on the back of a hot inflation report. Traders also pored over key quarterly results.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 428 points, or 1.39%, S&amp;P 500 e-minis were down 52.5 points, or 1.38%, and Nasdaq 100 e-minis were down 118 points, or 1%.</p><p><img src=\"https://static.tigerbbs.com/2bef532aeff50985300f8d841c16baad\" tg-width=\"262\" tg-height=\"127\" referrerpolicy=\"no-referrer\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a></b> – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other factors were likely to have a negative effect on the global economy.</p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a></b> – Morgan Stanley reported quarterly earnings of $1.39 per share, 14 cents shy of consensus estimates, with the investment bank’s revenue also falling short. The bank saw weaker investment banking activity during the quarter, although it said results in equity and fixed income were strong. Morgan Stanley lost 2.6% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> – The chip maker’s stock rose 1.5% in the premarket after second-quarter earnings beat analyst estimates. Taiwan Semi also raised its revenue forecast for the year. Results got a boost from strong markets for automotive and IoT chips.</p><p><b><a href=\"https://laohu8.com/S/ERIC\">LM Ericsson Telephone</a></b> – The Sweden-based telecom equipment company reported a profit that missed analyst estimates, hurt by higher costs for components and logistics. Ericsson shares tumbled 9.1% in premarket trading.</p><p><b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b> – Twitter added 1.1% in premarket action, on top of a 12.6% jump over the past 2 sessions. Wednesday’s nearly 8% gain came after Twitter sued Elon Musk to force him to go through with a $44 billion takeover deal. Twitter also said in an SEC filing that it is not planning company-wide layoffs but may continue to restructure the company.</p><p><b><a href=\"https://laohu8.com/S/CAG\">ConAgra</a></b> – The food producer reported an adjusted quarterly profit of 65 cents per share, 2 cents above estimates, with revenue essentially in line with forecasts. Conagra saw an impact from higher costs, with operating margins falling by 310 basis points.</p><p><b><a href=\"https://laohu8.com/S/CSCO\">Cisco</a></b> – J.P. Morgan Securities downgraded the networking equipment maker’s stock to “neutral” from “overweight,” based in part on what it sees as downside risks to enterprise spending levels. Cisco fell 2.2% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/DG\">Dollar General</a></b> – The discount retailer’s stock fell 2.3% in the premarket after Citi downgraded it to “neutral” from “buy,” noting that the shares are within 4% of its price target. Citi also feels the recently announced CEO transition will be smooth and does not impact its view of the stock.</p><li></li><p><b>Market News</b></p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> forecast revenue growth that could be the highest in 10 quarters, saying it was &#34;highly confident&#34; about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles.</p><p>America’s first leveraged single-stock ETFs will debut Thursday, launching into a miserable year for US equities and accompanied by a barrage of regulator warnings over their potential risks.</p><p><b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> has offered to refrain from using sellers&#39; data for its own competing retail business and boost the visibility of rival products on its platform, EU regulators said on Thursday, a move aimed at staving off a possible hefty fine.</p><p><b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>&#39;s Google Cloud unit on Wednesday said it will start adopting computing chips based on technology from Arm Ltd, making it the latest company to join a transition that will take market share from Intel and Advanced Micro Devices.</p><p><b><a href=\"https://laohu8.com/S/ERIC\">LM Ericsson Telephone</a></b>’s sales increased 14% to 62.5 billion Swedish kronor, equivalent to about $5.9 billion, in the quarter ended June 30 compared with the same period last year. Profit rose 19% to 4.7 billion kronor in the quarter.</p><p><b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a></b> reported a fall in second-quarter profit on Thursday as America&#39;s largest bank set aside more money to cover potential losses in the face of growing risks of a recession.</p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a></b> reported net revenues of $13.1 billion for the second quarter ended June 30, 2022 compared with $14.8 billion a year ago. Net income applicable was $2.5 billion, or $1.39 per diluted share, compared with net income of $3.5 billion, or $1.85 per diluted share, for the same period a year ago.</p><p><b><a href=\"https://laohu8.com/S/BYDDY\">BYD Co., Ltd.</a></b> expects a net profit of RMB2.8B - RMB3.6B ($533M) in 1H22, up 138.59% - 206.76% Y/Y and after deducting non-recurring gains and losses, net profit to be RMB2.5B - RMB3.3B, up 578.11 % - 795.11% Y/Y.</p></body></html>","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>Pre-Bell｜U.S. Stock Futures Fell Over 1%; This Telecom Stock Crashed 9% </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell｜U.S. Stock Futures Fell Over 1%; This Telecom Stock Crashed 9% \n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-07-14 20:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures fell Thursday as traders assess the possibility of even tighter U.S. monetary policy on the back of a hot inflation report. Traders also pored over key quarterly results.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 428 points, or 1.39%, S&amp;P 500 e-minis were down 52.5 points, or 1.38%, and Nasdaq 100 e-minis were down 118 points, or 1%.</p><p><img src=\"https://static.tigerbbs.com/2bef532aeff50985300f8d841c16baad\" tg-width=\"262\" tg-height=\"127\" referrerpolicy=\"no-referrer\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a></b> – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other factors were likely to have a negative effect on the global economy.</p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a></b> – Morgan Stanley reported quarterly earnings of $1.39 per share, 14 cents shy of consensus estimates, with the investment bank’s revenue also falling short. The bank saw weaker investment banking activity during the quarter, although it said results in equity and fixed income were strong. Morgan Stanley lost 2.6% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> – The chip maker’s stock rose 1.5% in the premarket after second-quarter earnings beat analyst estimates. Taiwan Semi also raised its revenue forecast for the year. Results got a boost from strong markets for automotive and IoT chips.</p><p><b><a href=\"https://laohu8.com/S/ERIC\">LM Ericsson Telephone</a></b> – The Sweden-based telecom equipment company reported a profit that missed analyst estimates, hurt by higher costs for components and logistics. Ericsson shares tumbled 9.1% in premarket trading.</p><p><b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b> – Twitter added 1.1% in premarket action, on top of a 12.6% jump over the past 2 sessions. Wednesday’s nearly 8% gain came after Twitter sued Elon Musk to force him to go through with a $44 billion takeover deal. Twitter also said in an SEC filing that it is not planning company-wide layoffs but may continue to restructure the company.</p><p><b><a href=\"https://laohu8.com/S/CAG\">ConAgra</a></b> – The food producer reported an adjusted quarterly profit of 65 cents per share, 2 cents above estimates, with revenue essentially in line with forecasts. Conagra saw an impact from higher costs, with operating margins falling by 310 basis points.</p><p><b><a href=\"https://laohu8.com/S/CSCO\">Cisco</a></b> – J.P. Morgan Securities downgraded the networking equipment maker’s stock to “neutral” from “overweight,” based in part on what it sees as downside risks to enterprise spending levels. Cisco fell 2.2% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/DG\">Dollar General</a></b> – The discount retailer’s stock fell 2.3% in the premarket after Citi downgraded it to “neutral” from “buy,” noting that the shares are within 4% of its price target. Citi also feels the recently announced CEO transition will be smooth and does not impact its view of the stock.</p><li></li><p><b>Market News</b></p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> forecast revenue growth that could be the highest in 10 quarters, saying it was &#34;highly confident&#34; about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles.</p><p>America’s first leveraged single-stock ETFs will debut Thursday, launching into a miserable year for US equities and accompanied by a barrage of regulator warnings over their potential risks.</p><p><b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> has offered to refrain from using sellers&#39; data for its own competing retail business and boost the visibility of rival products on its platform, EU regulators said on Thursday, a move aimed at staving off a possible hefty fine.</p><p><b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>&#39;s Google Cloud unit on Wednesday said it will start adopting computing chips based on technology from Arm Ltd, making it the latest company to join a transition that will take market share from Intel and Advanced Micro Devices.</p><p><b><a href=\"https://laohu8.com/S/ERIC\">LM Ericsson Telephone</a></b>’s sales increased 14% to 62.5 billion Swedish kronor, equivalent to about $5.9 billion, in the quarter ended June 30 compared with the same period last year. Profit rose 19% to 4.7 billion kronor in the quarter.</p><p><b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a></b> reported a fall in second-quarter profit on Thursday as America&#39;s largest bank set aside more money to cover potential losses in the face of growing risks of a recession.</p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a></b> reported net revenues of $13.1 billion for the second quarter ended June 30, 2022 compared with $14.8 billion a year ago. Net income applicable was $2.5 billion, or $1.39 per diluted share, compared with net income of $3.5 billion, or $1.85 per diluted share, for the same period a year ago.</p><p><b><a href=\"https://laohu8.com/S/BYDDY\">BYD Co., Ltd.</a></b> expects a net profit of RMB2.8B - RMB3.6B ($533M) in 1H22, up 138.59% - 206.76% Y/Y and after deducting non-recurring gains and losses, net profit to be RMB2.5B - RMB3.3B, up 578.11 % - 795.11% Y/Y.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132300550","content_text":"U.S. stock futures fell Thursday as traders assess the possibility of even tighter U.S. monetary policy on the back of a hot inflation report. Traders also pored over key quarterly results.Market SnapshotAt 7:50 a.m. ET, Dow e-minis were down 428 points, or 1.39%, S&P 500 e-minis were down 52.5 points, or 1.38%, and Nasdaq 100 e-minis were down 118 points, or 1%.Pre-Market MoversJPMorgan Chase – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other factors were likely to have a negative effect on the global economy.Morgan Stanley – Morgan Stanley reported quarterly earnings of $1.39 per share, 14 cents shy of consensus estimates, with the investment bank’s revenue also falling short. The bank saw weaker investment banking activity during the quarter, although it said results in equity and fixed income were strong. Morgan Stanley lost 2.6% in the premarket.Taiwan Semiconductor Manufacturing – The chip maker’s stock rose 1.5% in the premarket after second-quarter earnings beat analyst estimates. Taiwan Semi also raised its revenue forecast for the year. Results got a boost from strong markets for automotive and IoT chips.LM Ericsson Telephone – The Sweden-based telecom equipment company reported a profit that missed analyst estimates, hurt by higher costs for components and logistics. Ericsson shares tumbled 9.1% in premarket trading.Twitter – Twitter added 1.1% in premarket action, on top of a 12.6% jump over the past 2 sessions. Wednesday’s nearly 8% gain came after Twitter sued Elon Musk to force him to go through with a $44 billion takeover deal. Twitter also said in an SEC filing that it is not planning company-wide layoffs but may continue to restructure the company.ConAgra – The food producer reported an adjusted quarterly profit of 65 cents per share, 2 cents above estimates, with revenue essentially in line with forecasts. Conagra saw an impact from higher costs, with operating margins falling by 310 basis points.Cisco – J.P. Morgan Securities downgraded the networking equipment maker’s stock to “neutral” from “overweight,” based in part on what it sees as downside risks to enterprise spending levels. Cisco fell 2.2% in the premarket.Dollar General – The discount retailer’s stock fell 2.3% in the premarket after Citi downgraded it to “neutral” from “buy,” noting that the shares are within 4% of its price target. Citi also feels the recently announced CEO transition will be smooth and does not impact its view of the stock.Market NewsTaiwan Semiconductor Manufacturing forecast revenue growth that could be the highest in 10 quarters, saying it was \"highly confident\" about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles.America’s first leveraged single-stock ETFs will debut Thursday, launching into a miserable year for US equities and accompanied by a barrage of regulator warnings over their potential risks.Amazon.com has offered to refrain from using sellers' data for its own competing retail business and boost the visibility of rival products on its platform, EU regulators said on Thursday, a move aimed at staving off a possible hefty fine.Alphabet's Google Cloud unit on Wednesday said it will start adopting computing chips based on technology from Arm Ltd, making it the latest company to join a transition that will take market share from Intel and Advanced Micro Devices.LM Ericsson Telephone’s sales increased 14% to 62.5 billion Swedish kronor, equivalent to about $5.9 billion, in the quarter ended June 30 compared with the same period last year. Profit rose 19% to 4.7 billion kronor in the quarter.JPMorgan Chase reported a fall in second-quarter profit on Thursday as America's largest bank set aside more money to cover potential losses in the face of growing risks of a recession.Morgan Stanley reported net revenues of $13.1 billion for the second quarter ended June 30, 2022 compared with $14.8 billion a year ago. Net income applicable was $2.5 billion, or $1.39 per diluted share, compared with net income of $3.5 billion, or $1.85 per diluted share, for the same period a year ago.BYD Co., Ltd. expects a net profit of RMB2.8B - RMB3.6B ($533M) in 1H22, up 138.59% - 206.76% Y/Y and after deducting non-recurring gains and losses, net profit to be RMB2.5B - RMB3.3B, up 578.11 % - 795.11% Y/Y.","news_type":1},"isVote":1,"tweetType":1,"viewCount":75,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9023800808,"gmtCreate":1652887404504,"gmtModify":1676535181893,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>well...","listText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>well...","text":"$PubMatic, Inc.(PUBM)$well...","images":[{"img":"https://community-static.tradeup.com/news/e2dc2b4cc5a3073d049fa7064eff2fa4","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9023800808","isVote":1,"tweetType":1,"viewCount":81,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9088019654,"gmtCreate":1650289707835,"gmtModify":1676534687533,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>dropping","listText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>dropping","text":"$PubMatic, Inc.(PUBM)$dropping","images":[{"img":"https://community-static.tradeup.com/news/8cdca968e10089938d7bff8c66a7c210","width":"1440","height":"4794"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9088019654","isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":886832578,"gmtCreate":1631579287594,"gmtModify":1676530579383,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Latest","listText":"Latest","text":"Latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/886832578","repostId":"1178276551","repostType":4,"repost":{"id":"1178276551","pubTimestamp":1631574947,"share":"https://ttm.financial/m/news/1178276551?lang=&edition=fundamental","pubTime":"2021-09-14 07:15","market":"us","language":"en","title":"S&P 500 snaps losing streak with tax hikes, inflation data on horizon","url":"https://stock-news.laohu8.com/highlight/detail?id=1178276551","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 closed higher on Monday, ending a five-day losing streak as investo","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data.</p>\n<p>The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower.</p>\n<p>Investors favored value over growth, with stocks set to benefit most from a resurging economy enjoying the biggest percentage gains.</p>\n<p>“There are probably not a lot of positive surprises coming this month,” said Liz Young, head of investment strategy at SoFi in New York. “We’re having another period of volatility where I think that rotation could go back to cyclicals and the reopened trade, as the 10-year bond rate slowly grinds higher through the end of the year.”</p>\n<p>Market participants are focused on the likely passage of U.S. President Joe Biden’s $3.5 trillion budget package, which is expected to include a proposed corporate tax rate hike to 26.5% from 21%.</p>\n<p>Goldman Sachs analysts see the corporate tax rate increasing to 25% and the passage of about half of a proposed increase to tax rates on foreign income, which they estimate would reduce S&amp;P 500 earnings by 5% in 2022.</p>\n<p>The Labor Department is due to release its consumer price index data on Tuesday, which could shed further light on the current inflation wave and whether it is as transitory as the Fed insists.</p>\n<p>“I don’t see inflation settling back down under 2% where it was pre-pandemic,” Young added. “Even if some of those transitory forces weaken, we will still stay at a higher rate than we were before.”</p>\n<p>Other key indicators due this week include retail sales and consumer sentiment, which could illuminate how much the demand boom driven by economic re-engagement has been dampened by the highly contagious COVID-19 Delta variant.</p>\n<p>The Dow Jones Industrial Average rose 261.91 points, or 0.76%, to 34,869.63, the S&amp;P 500 gained 10.15 points, or 0.23%, at 4,468.73 and the Nasdaq Composite dropped 9.91 points, or 0.07%, to 15,105.58.</p>\n<p>Of the 11 major sectors in the S&amp;P 500, healthcare suffered the largest percentage loss, while energy, buoyed by rising crude prices was the biggest gainer.</p>\n<p>Shares of vaccine makers Moderna and Pfizer Inc sank 6.6% and 2.2%, respectively, after experts said COVID booster shots are not widely needed.</p>\n<p>Coinbase Global Inc announced plans to raise about $1.5 billion through a debt offering aimed at funding product development and potential acquisitions. The cryptocurrency exchanges shares slid 2.2%.</p>\n<p>Salesforce.com Inc dipped 1.2% as rival Freshworks Inc’s regulatory filing indicated that the business engagement and customer engagement software company is aiming for a nearly $9 billion valuation in it U.S. debut.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.60-to-1 ratio; on Nasdaq, a 1.02-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 12 new 52-week highs and one new low; the Nasdaq Composite recorded 53 new highs and 71 new lows.</p>\n<p>Volume on U.S. exchanges was 10.30 billion shares, compared with the 9.29 billion average over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 snaps losing streak with tax hikes, inflation data on horizon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 snaps losing streak with tax hikes, inflation data on horizon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-14 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-snaps-losing-streak-with-tax-hikes-inflation-data-on-horizon-idUSL1N2QF2DB><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data.\nThe Dow Jones Industrial ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-snaps-losing-streak-with-tax-hikes-inflation-data-on-horizon-idUSL1N2QF2DB\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-snaps-losing-streak-with-tax-hikes-inflation-data-on-horizon-idUSL1N2QF2DB","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178276551","content_text":"NEW YORK (Reuters) - The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data.\nThe Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower.\nInvestors favored value over growth, with stocks set to benefit most from a resurging economy enjoying the biggest percentage gains.\n“There are probably not a lot of positive surprises coming this month,” said Liz Young, head of investment strategy at SoFi in New York. “We’re having another period of volatility where I think that rotation could go back to cyclicals and the reopened trade, as the 10-year bond rate slowly grinds higher through the end of the year.”\nMarket participants are focused on the likely passage of U.S. President Joe Biden’s $3.5 trillion budget package, which is expected to include a proposed corporate tax rate hike to 26.5% from 21%.\nGoldman Sachs analysts see the corporate tax rate increasing to 25% and the passage of about half of a proposed increase to tax rates on foreign income, which they estimate would reduce S&P 500 earnings by 5% in 2022.\nThe Labor Department is due to release its consumer price index data on Tuesday, which could shed further light on the current inflation wave and whether it is as transitory as the Fed insists.\n“I don’t see inflation settling back down under 2% where it was pre-pandemic,” Young added. “Even if some of those transitory forces weaken, we will still stay at a higher rate than we were before.”\nOther key indicators due this week include retail sales and consumer sentiment, which could illuminate how much the demand boom driven by economic re-engagement has been dampened by the highly contagious COVID-19 Delta variant.\nThe Dow Jones Industrial Average rose 261.91 points, or 0.76%, to 34,869.63, the S&P 500 gained 10.15 points, or 0.23%, at 4,468.73 and the Nasdaq Composite dropped 9.91 points, or 0.07%, to 15,105.58.\nOf the 11 major sectors in the S&P 500, healthcare suffered the largest percentage loss, while energy, buoyed by rising crude prices was the biggest gainer.\nShares of vaccine makers Moderna and Pfizer Inc sank 6.6% and 2.2%, respectively, after experts said COVID booster shots are not widely needed.\nCoinbase Global Inc announced plans to raise about $1.5 billion through a debt offering aimed at funding product development and potential acquisitions. The cryptocurrency exchanges shares slid 2.2%.\nSalesforce.com Inc dipped 1.2% as rival Freshworks Inc’s regulatory filing indicated that the business engagement and customer engagement software company is aiming for a nearly $9 billion valuation in it U.S. debut.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.60-to-1 ratio; on Nasdaq, a 1.02-to-1 ratio favored advancers.\nThe S&P 500 posted 12 new 52-week highs and one new low; the Nasdaq Composite recorded 53 new highs and 71 new lows.\nVolume on U.S. exchanges was 10.30 billion shares, compared with the 9.29 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":200,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966745766,"gmtCreate":1669672077955,"gmtModify":1676538219682,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9966745766","repostId":"2286817995","repostType":4,"isVote":1,"tweetType":1,"viewCount":822,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9997293802,"gmtCreate":1661814626408,"gmtModify":1676536581804,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/BABA\">$Alibaba(BABA)$</a><v-v data-views=\"1\"></v-v>up","listText":"<a href=\"https://ttm.financial/S/BABA\">$Alibaba(BABA)$</a><v-v data-views=\"1\"></v-v>up","text":"$Alibaba(BABA)$up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/9997293802","isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9992500860,"gmtCreate":1661330134952,"gmtModify":1676536498199,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/U11.SI\">$UNITED OVERSEAS BANK LIMITED(U11.SI)$</a><v-v data-views=\"1\"></v-v>lets fly","listText":"<a href=\"https://ttm.financial/S/U11.SI\">$UNITED OVERSEAS BANK LIMITED(U11.SI)$</a><v-v data-views=\"1\"></v-v>lets fly","text":"$UNITED OVERSEAS BANK LIMITED(U11.SI)$lets fly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/9992500860","isVote":1,"tweetType":1,"viewCount":464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9085119468,"gmtCreate":1650670285575,"gmtModify":1676534772492,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9085119468","repostId":"2229641491","repostType":4,"repost":{"id":"2229641491","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1650668840,"share":"https://ttm.financial/m/news/2229641491?lang=&edition=fundamental","pubTime":"2022-04-23 07:07","market":"us","language":"en","title":"Wall St Slumps as Weak Earnings, Rate Hike Clarity Spook Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2229641491","media":"Reuters","summary":"* Healthcare stocks slump on HCA, Intuitive Surgical numbers* Big tech down ahead of earnings next w","content":"<html><head></head><body><p>* Healthcare stocks slump on HCA, Intuitive Surgical numbers</p><p>* Big tech down ahead of earnings next week</p><p>* Dow posts biggest one-day fall since Oct. 2020</p><p>* Weekly falls: Dow 1.9%, S&amp;P 2.8%, Nasdaq 3.8%</p><p>* Indexes down on Friday: Dow 2.82%, S&amp;P 2.77%, Nasdaq 2.55% </p><p>April 22 (Reuters) - Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.</p><p>It was the third straight week of losses for both the S&amp;P 500 and the Nasdaq, while the Dow Jones posted its fourth weekly decline in a row.</p><p>For the Dow, its 2.82% drop on Friday was its biggest one-day fall since October 2020.</p><p>Exaggerated trading swings have become more common recently, as traders adjust to new data points from earnings, as well as when rates will rise again. For the Nasdaq, Friday was the eighth session in April, out of 15 trading days this month, where the index either rose or fell by more than 2%.</p><p>&#34;It&#39;s not very common, over the course of my time doing this job, for the market to move 2% in either direction and to think &#39;there&#39;s not too much to read into that&#39;,&#34; said Craig Erlam, senior market analyst at OANDA.</p><p>&#34;That&#39;s not normal, but that&#39;s just how things have been for such a long time now.&#34;</p><p>Concerns about risks from interest rate hikes continued to reverberate after Federal Reserve Chair Jerome Powell&#39;s hawkish pivot on Thursday, where he backed moving more quickly to combat inflation and said a 50-basis-point increase would be &#34;on the table&#34; when the Fed meets in May.</p><p>The idea of &#34;front-end loading&#34; the U.S. central bank&#39;s retreat from super-easy monetary policy, which Powell articulated support for on Thursday, has also forced traders to re-evaluate how aggressive subsequent rate rises would be.</p><p>The CBOE Volatility index, also known as Wall Street&#39;s fear gauge, jumped on Friday, ending at its highest level since mid-March.</p><p>Meanwhile, the latest earnings forecasts to jolt investors came from healthcare, with HCA Healthcare and Intuitive Surgical Inc the worst performers on the S&amp;P 500.</p><p>HCA slumped 21.8% after reporting a downbeat profit view, while other hospital operators felt the contagion: Tenet Healthcare, Community Health Systems and Universal Health Services all tumbled between 14% and 17.9%.</p><p>Surgical robot maker Intuitive Surgical dropped 14.3% after warning of weaker demand from hospitals due to tighter finances.</p><p>All 11 major S&amp;P 500 sectors were down, although the 3.6% slip by healthcare was outdone by materials, which was off 3.7%.</p><p>Materials was weighed down by Nucor Corp - down 8.3% after hitting a record high after posting earnings on Thursday - and Freeport-McMoRan Inc, which slipped 6.8% as investors fretted over how interest rate hikes would impact copper miners.</p><p>The Dow Jones Industrial Average fell 981.36 points, or 2.82%, to 33,811.4, the S&amp;P 500 lost 121.88 points, or 2.77%, to 4,271.78 and the Nasdaq Composite dropped 335.36 points, or 2.55%, to 12,839.29.</p><p>For the week, the Dow dipped 1.9%, the S&amp;P dropped 2.8%, and the Nasdaq declined 3.8%.</p><p>The prospect of a more hawkish Fed has led to a rocky start to the year for equities, with Friday&#39;s sell-off taking declines on both the S&amp;P and Dow since the start of the year beyond 10%.</p><p>The trend is more pronounced in tech and growth shares whose valuations are more vulnerable to rising bond yields. The Nasdaq is down 17.9% in 2022.</p><p>Earnings are due next week for the four biggest U.S. companies by market capitalization: Apple, Microsoft , Amazon and Google parent Alphabet.</p><p>The quartet declined between 2.4% and 4.1% on Friday. Meta Platforms Inc, which also has results on deck for next week, dropped 2.1%, taking its losses in the last three days to 15.3%.</p><p>Investors are worried after streaming giant Netflix Inc&#39;s dismal earnings earlier this week sent shockwaves through big tech and stay-at-home darlings which benefited from pandemic factors such as lockdown measures.</p><p>The volume on U.S. exchanges was 11.66 billion shares, compared with the 11.67 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St Slumps as Weak Earnings, Rate Hike Clarity Spook Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St Slumps as Weak Earnings, Rate Hike Clarity Spook Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-04-23 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Healthcare stocks slump on HCA, Intuitive Surgical numbers</p><p>* Big tech down ahead of earnings next week</p><p>* Dow posts biggest one-day fall since Oct. 2020</p><p>* Weekly falls: Dow 1.9%, S&amp;P 2.8%, Nasdaq 3.8%</p><p>* Indexes down on Friday: Dow 2.82%, S&amp;P 2.77%, Nasdaq 2.55% </p><p>April 22 (Reuters) - Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.</p><p>It was the third straight week of losses for both the S&amp;P 500 and the Nasdaq, while the Dow Jones posted its fourth weekly decline in a row.</p><p>For the Dow, its 2.82% drop on Friday was its biggest one-day fall since October 2020.</p><p>Exaggerated trading swings have become more common recently, as traders adjust to new data points from earnings, as well as when rates will rise again. For the Nasdaq, Friday was the eighth session in April, out of 15 trading days this month, where the index either rose or fell by more than 2%.</p><p>&#34;It&#39;s not very common, over the course of my time doing this job, for the market to move 2% in either direction and to think &#39;there&#39;s not too much to read into that&#39;,&#34; said Craig Erlam, senior market analyst at OANDA.</p><p>&#34;That&#39;s not normal, but that&#39;s just how things have been for such a long time now.&#34;</p><p>Concerns about risks from interest rate hikes continued to reverberate after Federal Reserve Chair Jerome Powell&#39;s hawkish pivot on Thursday, where he backed moving more quickly to combat inflation and said a 50-basis-point increase would be &#34;on the table&#34; when the Fed meets in May.</p><p>The idea of &#34;front-end loading&#34; the U.S. central bank&#39;s retreat from super-easy monetary policy, which Powell articulated support for on Thursday, has also forced traders to re-evaluate how aggressive subsequent rate rises would be.</p><p>The CBOE Volatility index, also known as Wall Street&#39;s fear gauge, jumped on Friday, ending at its highest level since mid-March.</p><p>Meanwhile, the latest earnings forecasts to jolt investors came from healthcare, with HCA Healthcare and Intuitive Surgical Inc the worst performers on the S&amp;P 500.</p><p>HCA slumped 21.8% after reporting a downbeat profit view, while other hospital operators felt the contagion: Tenet Healthcare, Community Health Systems and Universal Health Services all tumbled between 14% and 17.9%.</p><p>Surgical robot maker Intuitive Surgical dropped 14.3% after warning of weaker demand from hospitals due to tighter finances.</p><p>All 11 major S&amp;P 500 sectors were down, although the 3.6% slip by healthcare was outdone by materials, which was off 3.7%.</p><p>Materials was weighed down by Nucor Corp - down 8.3% after hitting a record high after posting earnings on Thursday - and Freeport-McMoRan Inc, which slipped 6.8% as investors fretted over how interest rate hikes would impact copper miners.</p><p>The Dow Jones Industrial Average fell 981.36 points, or 2.82%, to 33,811.4, the S&amp;P 500 lost 121.88 points, or 2.77%, to 4,271.78 and the Nasdaq Composite dropped 335.36 points, or 2.55%, to 12,839.29.</p><p>For the week, the Dow dipped 1.9%, the S&amp;P dropped 2.8%, and the Nasdaq declined 3.8%.</p><p>The prospect of a more hawkish Fed has led to a rocky start to the year for equities, with Friday&#39;s sell-off taking declines on both the S&amp;P and Dow since the start of the year beyond 10%.</p><p>The trend is more pronounced in tech and growth shares whose valuations are more vulnerable to rising bond yields. The Nasdaq is down 17.9% in 2022.</p><p>Earnings are due next week for the four biggest U.S. companies by market capitalization: Apple, Microsoft , Amazon and Google parent Alphabet.</p><p>The quartet declined between 2.4% and 4.1% on Friday. Meta Platforms Inc, which also has results on deck for next week, dropped 2.1%, taking its losses in the last three days to 15.3%.</p><p>Investors are worried after streaming giant Netflix Inc&#39;s dismal earnings earlier this week sent shockwaves through big tech and stay-at-home darlings which benefited from pandemic factors such as lockdown measures.</p><p>The volume on U.S. exchanges was 11.66 billion shares, compared with the 11.67 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","ISRG":"直觉外科公司",".SPX":"S&P 500 Index","HCA":"HCA控股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2229641491","content_text":"* Healthcare stocks slump on HCA, Intuitive Surgical numbers* Big tech down ahead of earnings next week* Dow posts biggest one-day fall since Oct. 2020* Weekly falls: Dow 1.9%, S&P 2.8%, Nasdaq 3.8%* Indexes down on Friday: Dow 2.82%, S&P 2.77%, Nasdaq 2.55% April 22 (Reuters) - Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.It was the third straight week of losses for both the S&P 500 and the Nasdaq, while the Dow Jones posted its fourth weekly decline in a row.For the Dow, its 2.82% drop on Friday was its biggest one-day fall since October 2020.Exaggerated trading swings have become more common recently, as traders adjust to new data points from earnings, as well as when rates will rise again. For the Nasdaq, Friday was the eighth session in April, out of 15 trading days this month, where the index either rose or fell by more than 2%.\"It's not very common, over the course of my time doing this job, for the market to move 2% in either direction and to think 'there's not too much to read into that',\" said Craig Erlam, senior market analyst at OANDA.\"That's not normal, but that's just how things have been for such a long time now.\"Concerns about risks from interest rate hikes continued to reverberate after Federal Reserve Chair Jerome Powell's hawkish pivot on Thursday, where he backed moving more quickly to combat inflation and said a 50-basis-point increase would be \"on the table\" when the Fed meets in May.The idea of \"front-end loading\" the U.S. central bank's retreat from super-easy monetary policy, which Powell articulated support for on Thursday, has also forced traders to re-evaluate how aggressive subsequent rate rises would be.The CBOE Volatility index, also known as Wall Street's fear gauge, jumped on Friday, ending at its highest level since mid-March.Meanwhile, the latest earnings forecasts to jolt investors came from healthcare, with HCA Healthcare and Intuitive Surgical Inc the worst performers on the S&P 500.HCA slumped 21.8% after reporting a downbeat profit view, while other hospital operators felt the contagion: Tenet Healthcare, Community Health Systems and Universal Health Services all tumbled between 14% and 17.9%.Surgical robot maker Intuitive Surgical dropped 14.3% after warning of weaker demand from hospitals due to tighter finances.All 11 major S&P 500 sectors were down, although the 3.6% slip by healthcare was outdone by materials, which was off 3.7%.Materials was weighed down by Nucor Corp - down 8.3% after hitting a record high after posting earnings on Thursday - and Freeport-McMoRan Inc, which slipped 6.8% as investors fretted over how interest rate hikes would impact copper miners.The Dow Jones Industrial Average fell 981.36 points, or 2.82%, to 33,811.4, the S&P 500 lost 121.88 points, or 2.77%, to 4,271.78 and the Nasdaq Composite dropped 335.36 points, or 2.55%, to 12,839.29.For the week, the Dow dipped 1.9%, the S&P dropped 2.8%, and the Nasdaq declined 3.8%.The prospect of a more hawkish Fed has led to a rocky start to the year for equities, with Friday's sell-off taking declines on both the S&P and Dow since the start of the year beyond 10%.The trend is more pronounced in tech and growth shares whose valuations are more vulnerable to rising bond yields. The Nasdaq is down 17.9% in 2022.Earnings are due next week for the four biggest U.S. companies by market capitalization: Apple, Microsoft , Amazon and Google parent Alphabet.The quartet declined between 2.4% and 4.1% on Friday. Meta Platforms Inc, which also has results on deck for next week, dropped 2.1%, taking its losses in the last three days to 15.3%.Investors are worried after streaming giant Netflix Inc's dismal earnings earlier this week sent shockwaves through big tech and stay-at-home darlings which benefited from pandemic factors such as lockdown measures.The volume on U.S. exchanges was 11.66 billion shares, compared with the 11.67 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9904911026,"gmtCreate":1659972580868,"gmtModify":1703476526447,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>hmm","listText":"<a href=\"https://ttm.financial/S/PUBM\">$PubMatic, Inc.(PUBM)$</a>hmm","text":"$PubMatic, Inc.(PUBM)$hmm","images":[{"img":"https://community-static.tradeup.com/news/53ca8c3fa18acea87ad8c3e520066ba6","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9904911026","isVote":1,"tweetType":1,"viewCount":132,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9074443756,"gmtCreate":1658399896175,"gmtModify":1676536153029,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/J91U.SI\">$ESR-REIT(J91U.SI)$</a>this is bad","listText":"<a href=\"https://ttm.financial/S/J91U.SI\">$ESR-REIT(J91U.SI)$</a>this is bad","text":"$ESR-REIT(J91U.SI)$this is bad","images":[{"img":"https://community-static.tradeup.com/news/5f4be6a177ebca769c8f15ec343642cc","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9074443756","isVote":1,"tweetType":1,"viewCount":197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9058718114,"gmtCreate":1654904624338,"gmtModify":1676535529787,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Key is to stay liquid and hold on tight in the rollercoaster ride.","listText":"Key is to stay liquid and hold on tight in the rollercoaster ride.","text":"Key is to stay liquid and hold on tight in the rollercoaster ride.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9058718114","repostId":"1108712122","repostType":4,"repost":{"id":"1108712122","pubTimestamp":1654902743,"share":"https://ttm.financial/m/news/1108712122?lang=&edition=fundamental","pubTime":"2022-06-11 07:12","market":"us","language":"en","title":"Wall Street Suffers Biggest Weekly Loss Since January After Hot CPI Data","url":"https://stock-news.laohu8.com/highlight/detail?id=1108712122","media":"StreetInsider","summary":"U.S. stocks posted their biggest weekly percentage declines since January and ended sharply lower on","content":"<html><head></head><body><p>U.S. stocks posted their biggest weekly percentage declines since January and ended sharply lower on the day Friday as a steeper-than-expected rise in U.S. consumer prices in May fueled fears of more aggressive interest rate hikes by the Federal Reserve.</p><p>Tech and growth stocks, whose valuations rely more heavily on future cash flows, led the decline. Microsoft Corp, Amazon.com Inc and Apple Inc drove losses in the S&amp;P 500.</p><p>Following the inflation report, two-year Treasury yields, which are highly sensitive to rate hikes, spiked to 3.057%, the highest since June 2008. Benchmark 10-year yields reached 3.178%, the highest since May 9.</p><p>The U.S. Labor Department&#39;s report showed the consumer price index (CPI) increased 1.0% last month after gaining 0.3% in April. Economists polled by Reuters had forecast the monthly CPI picking up 0.7%.</p><p>Year-on-year, CPI surged 8.6%, its biggest gain since 1981 and following an 8.3% jump in May.</p><p>Stocks have been volatile this year, and recent selling has largely been tied to worries over inflation, rising interest rates and the likelihood of a recession.</p><p>&#34;Today&#39;s report should extinguish any pretense that a &#39;pause&#39; in rate hikes will likely be appropriate by the end of summer, as the Fed is clearly still behind the eight ball on bringing inflation under control,&#34; said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.</p><p>The Dow Jones Industrial Average fell 880 points, or 2.73%, to 31,392.79; the S&amp;P 500 lost 116.96 points, or 2.91%, to 3,900.86; and the Nasdaq Composite dropped 414.20 points, or 3.52%, to 11,340.02.</p><p>The major indexes registered their biggest weekly percentage drops since the week ended Jan. 21, with the Dow down 4.58%, the S&amp;P 500 down 5.06% and the Nasdaq down 5.60% for the week.</p><p>The S&amp;P 500 is now down 18.2% for the year so far.</p><p>On Friday, the S&amp;P 500 growth index took a 3.7% hit, while the value index fell 2.2%.</p><p>The inflation report was published ahead of an anticipated second 50 basis points rate hike from the Fed on Wednesday. A further half-percentage-point is priced in for July, with a strong chance of a similar move in September.</p><p>One worry is that an aggressive push higher on rates by the Fed could send the economy into recession.</p><p>Among the day&#39;s losers, Netflix Inc slid 5.1% after Goldman downgraded the streaming video giant&#39;s stock to &#34;sell&#34; from &#34;neutral&#34; due to a possibly weaker macro environment.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 5.70-to-1 ratio; on Nasdaq, a 4.05-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted one new 52-week high and 44 new lows; the Nasdaq Composite recorded 17 new highs and 326 new lows.</p><p>Volume on U.S. exchanges was 12.62 billion shares, compared with the 11.88 billion average for the full session over the last 20 trading days.</p></body></html>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Suffers Biggest Weekly Loss Since January After Hot CPI Data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Suffers Biggest Weekly Loss Since January After Hot CPI Data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-11 07:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/ETFs/Wall+Street+suffers+biggest+weekly+loss+since+January+after+hot+CPI+data/20199959.html><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks posted their biggest weekly percentage declines since January and ended sharply lower on the day Friday as a steeper-than-expected rise in U.S. consumer prices in May fueled fears of more ...</p>\n\n<a href=\"https://www.streetinsider.com/ETFs/Wall+Street+suffers+biggest+weekly+loss+since+January+after+hot+CPI+data/20199959.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.streetinsider.com/ETFs/Wall+Street+suffers+biggest+weekly+loss+since+January+after+hot+CPI+data/20199959.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108712122","content_text":"U.S. stocks posted their biggest weekly percentage declines since January and ended sharply lower on the day Friday as a steeper-than-expected rise in U.S. consumer prices in May fueled fears of more aggressive interest rate hikes by the Federal Reserve.Tech and growth stocks, whose valuations rely more heavily on future cash flows, led the decline. Microsoft Corp, Amazon.com Inc and Apple Inc drove losses in the S&P 500.Following the inflation report, two-year Treasury yields, which are highly sensitive to rate hikes, spiked to 3.057%, the highest since June 2008. Benchmark 10-year yields reached 3.178%, the highest since May 9.The U.S. Labor Department's report showed the consumer price index (CPI) increased 1.0% last month after gaining 0.3% in April. Economists polled by Reuters had forecast the monthly CPI picking up 0.7%.Year-on-year, CPI surged 8.6%, its biggest gain since 1981 and following an 8.3% jump in May.Stocks have been volatile this year, and recent selling has largely been tied to worries over inflation, rising interest rates and the likelihood of a recession.\"Today's report should extinguish any pretense that a 'pause' in rate hikes will likely be appropriate by the end of summer, as the Fed is clearly still behind the eight ball on bringing inflation under control,\" said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.The Dow Jones Industrial Average fell 880 points, or 2.73%, to 31,392.79; the S&P 500 lost 116.96 points, or 2.91%, to 3,900.86; and the Nasdaq Composite dropped 414.20 points, or 3.52%, to 11,340.02.The major indexes registered their biggest weekly percentage drops since the week ended Jan. 21, with the Dow down 4.58%, the S&P 500 down 5.06% and the Nasdaq down 5.60% for the week.The S&P 500 is now down 18.2% for the year so far.On Friday, the S&P 500 growth index took a 3.7% hit, while the value index fell 2.2%.The inflation report was published ahead of an anticipated second 50 basis points rate hike from the Fed on Wednesday. A further half-percentage-point is priced in for July, with a strong chance of a similar move in September.One worry is that an aggressive push higher on rates by the Fed could send the economy into recession.Among the day's losers, Netflix Inc slid 5.1% after Goldman downgraded the streaming video giant's stock to \"sell\" from \"neutral\" due to a possibly weaker macro environment.Declining issues outnumbered advancing ones on the NYSE by a 5.70-to-1 ratio; on Nasdaq, a 4.05-to-1 ratio favored decliners.The S&P 500 posted one new 52-week high and 44 new lows; the Nasdaq Composite recorded 17 new highs and 326 new lows.Volume on U.S. exchanges was 12.62 billion shares, compared with the 11.88 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9059053030,"gmtCreate":1654267406720,"gmtModify":1676535422674,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059053030","repostId":"1107733191","repostType":4,"repost":{"id":"1107733191","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1654267099,"share":"https://ttm.financial/m/news/1107733191?lang=&edition=fundamental","pubTime":"2022-06-03 22:38","market":"us","language":"en","title":"Nasdaq Falls 2% as Investors Weigh Strong Jobs Report, Higher Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1107733191","media":"Tiger Newspress","summary":"U.S. stocks slid Friday as investors digested a stronger-than-expected jobs report and rising rates.","content":"<html><head></head><body><p>U.S. stocks slid Friday as investors digested a stronger-than-expected jobs report and rising rates.</p><p>The Dow Jones Industrial Average fell about 230 points, or 0.6%. The S&amp;P 500 slipped 1.3%. The technology-heavy Nasdaq Composite fell 2.1%.</p><p>Hiring in the U.S. remained elevated in May. Nonfarm payrolls added 390,000 jobs last month, theBureau of Labor Statistics reported Friday. Economists expected 328,000 jobs added, according to Dow Jones.</p><p>Average hourly earnings rose 0.3% in May, according to the BLS, slightly less than the consensus estimate of 0.4% and in line with April’s pace.</p><p>“Numbers this strong would likely reverse any hopes the Fed would consider a pause in rate hikes after the June/July increases, because it would signal the labor market remains very tight,” Tom Essaye of the Sevens Report said.</p><p>Traders selling stocks likely reacted to the move higher in rates with fears of the Federal Reserve tightening monetary policy at the forefront. The benchmark 10-year Treasury yield climbed after the report, above the 2.96% level. Yields rose across the board as the jobs report is unlikely to give the Fed reason to pause its aggressive tightening campaign.</p><p>Investors fear higher yields could slow the economy too much and tip it into a recession. Higher rates also discount the value of future earnings, which can make stocks look less attractive, especially growth and tech names.</p><p>Technology shares retreated amid the rising rates. Micron Technology fell about 6% and Nvidia fell nearly 3%. Mega-cap tech names Google parent Alphabet and Facebook parent Meta Platforms each lost more than 2%.</p><p>Apple eased more than 2% after anegative research note from Morgan Stanley. The firm said slowing App Store growth could hurt the company in the near-term.</p><p>Tesla shares fell more than 6% after Reuters reported, citing an internal email, that CEO Elon Musk wants to cut 10% of jobs at the car maker. According to Reuters’ report, Musk also said in the email that he has a “super bad” feeling about the economy.</p><p>With Friday’s decline, the three major averages are now marginally lower on the holiday-shortened week.</p><p>Stocks are coming off a strong session Thursday in which the major averages rose for the first time in three sessions.</p><p>Investors have been divided on recession calls and if the Fed may be positioned to take a break from its interest rate hikes.</p><p>Fed Vice Chair Lael Brainard on Thursday told CNBC it’s unlikely to do so anytime soon and that it’s “got a lot of work to do to get inflation down to our 2% target.”</p></body></html>","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>Nasdaq Falls 2% as Investors Weigh Strong Jobs Report, Higher Rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNasdaq Falls 2% as Investors Weigh Strong Jobs Report, Higher Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-03 22:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks slid Friday as investors digested a stronger-than-expected jobs report and rising rates.</p><p>The Dow Jones Industrial Average fell about 230 points, or 0.6%. The S&amp;P 500 slipped 1.3%. The technology-heavy Nasdaq Composite fell 2.1%.</p><p>Hiring in the U.S. remained elevated in May. Nonfarm payrolls added 390,000 jobs last month, theBureau of Labor Statistics reported Friday. Economists expected 328,000 jobs added, according to Dow Jones.</p><p>Average hourly earnings rose 0.3% in May, according to the BLS, slightly less than the consensus estimate of 0.4% and in line with April’s pace.</p><p>“Numbers this strong would likely reverse any hopes the Fed would consider a pause in rate hikes after the June/July increases, because it would signal the labor market remains very tight,” Tom Essaye of the Sevens Report said.</p><p>Traders selling stocks likely reacted to the move higher in rates with fears of the Federal Reserve tightening monetary policy at the forefront. The benchmark 10-year Treasury yield climbed after the report, above the 2.96% level. Yields rose across the board as the jobs report is unlikely to give the Fed reason to pause its aggressive tightening campaign.</p><p>Investors fear higher yields could slow the economy too much and tip it into a recession. Higher rates also discount the value of future earnings, which can make stocks look less attractive, especially growth and tech names.</p><p>Technology shares retreated amid the rising rates. Micron Technology fell about 6% and Nvidia fell nearly 3%. Mega-cap tech names Google parent Alphabet and Facebook parent Meta Platforms each lost more than 2%.</p><p>Apple eased more than 2% after anegative research note from Morgan Stanley. The firm said slowing App Store growth could hurt the company in the near-term.</p><p>Tesla shares fell more than 6% after Reuters reported, citing an internal email, that CEO Elon Musk wants to cut 10% of jobs at the car maker. According to Reuters’ report, Musk also said in the email that he has a “super bad” feeling about the economy.</p><p>With Friday’s decline, the three major averages are now marginally lower on the holiday-shortened week.</p><p>Stocks are coming off a strong session Thursday in which the major averages rose for the first time in three sessions.</p><p>Investors have been divided on recession calls and if the Fed may be positioned to take a break from its interest rate hikes.</p><p>Fed Vice Chair Lael Brainard on Thursday told CNBC it’s unlikely to do so anytime soon and that it’s “got a lot of work to do to get inflation down to our 2% target.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107733191","content_text":"U.S. stocks slid Friday as investors digested a stronger-than-expected jobs report and rising rates.The Dow Jones Industrial Average fell about 230 points, or 0.6%. The S&P 500 slipped 1.3%. The technology-heavy Nasdaq Composite fell 2.1%.Hiring in the U.S. remained elevated in May. Nonfarm payrolls added 390,000 jobs last month, theBureau of Labor Statistics reported Friday. Economists expected 328,000 jobs added, according to Dow Jones.Average hourly earnings rose 0.3% in May, according to the BLS, slightly less than the consensus estimate of 0.4% and in line with April’s pace.“Numbers this strong would likely reverse any hopes the Fed would consider a pause in rate hikes after the June/July increases, because it would signal the labor market remains very tight,” Tom Essaye of the Sevens Report said.Traders selling stocks likely reacted to the move higher in rates with fears of the Federal Reserve tightening monetary policy at the forefront. The benchmark 10-year Treasury yield climbed after the report, above the 2.96% level. Yields rose across the board as the jobs report is unlikely to give the Fed reason to pause its aggressive tightening campaign.Investors fear higher yields could slow the economy too much and tip it into a recession. Higher rates also discount the value of future earnings, which can make stocks look less attractive, especially growth and tech names.Technology shares retreated amid the rising rates. Micron Technology fell about 6% and Nvidia fell nearly 3%. Mega-cap tech names Google parent Alphabet and Facebook parent Meta Platforms each lost more than 2%.Apple eased more than 2% after anegative research note from Morgan Stanley. The firm said slowing App Store growth could hurt the company in the near-term.Tesla shares fell more than 6% after Reuters reported, citing an internal email, that CEO Elon Musk wants to cut 10% of jobs at the car maker. According to Reuters’ report, Musk also said in the email that he has a “super bad” feeling about the economy.With Friday’s decline, the three major averages are now marginally lower on the holiday-shortened week.Stocks are coming off a strong session Thursday in which the major averages rose for the first time in three sessions.Investors have been divided on recession calls and if the Fed may be positioned to take a break from its interest rate hikes.Fed Vice Chair Lael Brainard on Thursday told CNBC it’s unlikely to do so anytime soon and that it’s “got a lot of work to do to get inflation down to our 2% target.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9025753240,"gmtCreate":1653751261980,"gmtModify":1676535336651,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>buy?","listText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>buy?","text":"$IFAST CORPORATION LTD.(AIY.SI)$buy?","images":[{"img":"https://community-static.tradeup.com/news/1504937bb558a3e67c3d3d370eef7665","width":"1440","height":"3223"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9025753240","isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9066330526,"gmtCreate":1651848038266,"gmtModify":1676534983315,"author":{"id":"3576874199621356","authorId":"3576874199621356","name":"DTnisiel","avatar":"https://community-static.tradeup.com/news/25e0d3ec95b007ac9005d11253fa809f","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576874199621356","idStr":"3576874199621356"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FB\">$Meta Platforms, Inc.(FB)$</a>well....","listText":"<a href=\"https://ttm.financial/S/FB\">$Meta Platforms, Inc.(FB)$</a>well....","text":"$Meta Platforms, Inc.(FB)$well....","images":[{"img":"https://community-static.tradeup.com/news/e4c4b5b357c757618d069fff046c7a6d","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066330526","isVote":1,"tweetType":1,"viewCount":197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}