ChunHui personal page - To The Moon

ChunHui

ChunHui

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04-07

$Palantir Technologies Inc.(PLTR)$

01-14

Okkkkkkkkkkkkkkkkkkkkkk

01-13

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01-12

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01-11

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01-10

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01-09

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01-09

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01-08

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01-07

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01-06

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01-05

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01-04

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01-03

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01-02

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01-01

Happy new year!!!!!!!!!!!!!!!!!!

2023-12-31

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2023-12-30

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2023-12-29

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2023-12-29

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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":1665614340,"share":"https://ttm.financial/m/news/2275566046?lang=&edition=fundamental","pubTime":"2022-10-13 06:39","market":"us","language":"en","title":"US STOCKS-Wall St Ends Volatile Day Lower After Fed Minutes, PPI","url":"https://stock-news.laohu8.com/highlight/detail?id=2275566046","media":"Reuters","summary":"* U.S. producer prices rise more than expected in September* Consumer price data due Thursday* Index","content":"<html><head></head><body><p>* U.S. producer prices rise more than expected in September</p><p>* Consumer price data due Thursday</p><p>* Indexes: Dow down 0.1%, S&amp;P 500 down 0.3%, Nasdaq down 0.1%</p><p>NEW YORK, Oct 12 (Reuters) - U.S. stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance.</p><p>The September meeting minutes also showed many Fed officials stressed the cost of not doing enough to bring down inflation.</p><p>Recent market weakness has been tied in part to increasing fears among investors that aggressive rate hikes by the Fed could tip the world&#39;s largest economy into a recession.</p><p>Rate-sensitive utilities were down 3.4% while real estate fell 1.4%. They led percentage declines among S&amp;P sectors for the day.</p><p>Fed officials in the recent speeches have come out &#34;in unison regarding the Fed&#39;s commitment toward curtailing inflation and staying the course,&#34; said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.</p><p>&#34;There&#39;s an understanding now the Fed is going to keep going. The question for the market is where is the transition from 75 basis points to 50 and 25. That is what the market is focused on I think.&#34;</p><p>At the September meeting, Fed officials raised interest rates by three-quarters of a percentage point for the third straight time in an effort to drive inflation down from 40-year highs.</p><p>The market bounced around just after the open, with data earlier showing a surprise rise in September producer prices. The Labor Department&#39;s producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Still, the reading was lower than an 8.7% increase in August.</p><p>The Dow Jones Industrial Average fell 28.34 points, or 0.1%, to 29,210.85, the S&amp;P 500 lost 11.81 points, or 0.33%, to 3,577.03 and the Nasdaq Composite dropped 9.09 points, or 0.09%, to 10,417.10.</p><p>Thursday&#39;s report on U.S. consumer prices is considered even more key and has been anxiously awaited by investors, along with the start of third-quarter U.S. earnings, which kick off with results from some of the big U.S. banks on Friday.</p><p>The S&amp;P 500 financial index ended down 0.3%.</p><p>Among gainers, PepsiCo Inc rose 4.2% after the soft-drinks maker raised its annual revenue and profit forecasts on firm demand for its sodas and snacks despite multiple price increases.</p><p>Alcoa Corp jumped 5.3%. The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow&#39;s military escalation in Ukraine, a person briefed on the conversations told Reuters.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.64-to-1 ratio; on Nasdaq, a 1.15-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted no new 52-week highs and 78 new lows; the Nasdaq Composite recorded 20 new highs and 433 new lows.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 11.68 billion average for the full session over the last 20 trading days.</p><p><img src=\"https://static.tigerbbs.com/ee931f83d91ff70a9be72012d9185e74\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></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>US STOCKS-Wall St Ends Volatile Day Lower After Fed Minutes, PPI</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\">\nUS STOCKS-Wall St Ends Volatile Day Lower After Fed Minutes, PPI\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\">2022-10-13 06:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* U.S. producer prices rise more than expected in September</p><p>* Consumer price data due Thursday</p><p>* Indexes: Dow down 0.1%, S&amp;P 500 down 0.3%, Nasdaq down 0.1%</p><p>NEW YORK, Oct 12 (Reuters) - U.S. stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance.</p><p>The September meeting minutes also showed many Fed officials stressed the cost of not doing enough to bring down inflation.</p><p>Recent market weakness has been tied in part to increasing fears among investors that aggressive rate hikes by the Fed could tip the world&#39;s largest economy into a recession.</p><p>Rate-sensitive utilities were down 3.4% while real estate fell 1.4%. They led percentage declines among S&amp;P sectors for the day.</p><p>Fed officials in the recent speeches have come out &#34;in unison regarding the Fed&#39;s commitment toward curtailing inflation and staying the course,&#34; said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.</p><p>&#34;There&#39;s an understanding now the Fed is going to keep going. The question for the market is where is the transition from 75 basis points to 50 and 25. That is what the market is focused on I think.&#34;</p><p>At the September meeting, Fed officials raised interest rates by three-quarters of a percentage point for the third straight time in an effort to drive inflation down from 40-year highs.</p><p>The market bounced around just after the open, with data earlier showing a surprise rise in September producer prices. The Labor Department&#39;s producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Still, the reading was lower than an 8.7% increase in August.</p><p>The Dow Jones Industrial Average fell 28.34 points, or 0.1%, to 29,210.85, the S&amp;P 500 lost 11.81 points, or 0.33%, to 3,577.03 and the Nasdaq Composite dropped 9.09 points, or 0.09%, to 10,417.10.</p><p>Thursday&#39;s report on U.S. consumer prices is considered even more key and has been anxiously awaited by investors, along with the start of third-quarter U.S. earnings, which kick off with results from some of the big U.S. banks on Friday.</p><p>The S&amp;P 500 financial index ended down 0.3%.</p><p>Among gainers, PepsiCo Inc rose 4.2% after the soft-drinks maker raised its annual revenue and profit forecasts on firm demand for its sodas and snacks despite multiple price increases.</p><p>Alcoa Corp jumped 5.3%. The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow&#39;s military escalation in Ukraine, a person briefed on the conversations told Reuters.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.64-to-1 ratio; on Nasdaq, a 1.15-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted no new 52-week highs and 78 new lows; the Nasdaq Composite recorded 20 new highs and 433 new lows.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 11.68 billion average for the full session over the last 20 trading days.</p><p><img src=\"https://static.tigerbbs.com/ee931f83d91ff70a9be72012d9185e74\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AA":"美国铝业","PEP":"百事可乐",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2275566046","content_text":"* U.S. producer prices rise more than expected in September* Consumer price data due Thursday* Indexes: Dow down 0.1%, S&P 500 down 0.3%, Nasdaq down 0.1%NEW YORK, Oct 12 (Reuters) - U.S. stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance.The September meeting minutes also showed many Fed officials stressed the cost of not doing enough to bring down inflation.Recent market weakness has been tied in part to increasing fears among investors that aggressive rate hikes by the Fed could tip the world's largest economy into a recession.Rate-sensitive utilities were down 3.4% while real estate fell 1.4%. They led percentage declines among S&P sectors for the day.Fed officials in the recent speeches have come out \"in unison regarding the Fed's commitment toward curtailing inflation and staying the course,\" said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.\"There's an understanding now the Fed is going to keep going. The question for the market is where is the transition from 75 basis points to 50 and 25. That is what the market is focused on I think.\"At the September meeting, Fed officials raised interest rates by three-quarters of a percentage point for the third straight time in an effort to drive inflation down from 40-year highs.The market bounced around just after the open, with data earlier showing a surprise rise in September producer prices. The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Still, the reading was lower than an 8.7% increase in August.The Dow Jones Industrial Average fell 28.34 points, or 0.1%, to 29,210.85, the S&P 500 lost 11.81 points, or 0.33%, to 3,577.03 and the Nasdaq Composite dropped 9.09 points, or 0.09%, to 10,417.10.Thursday's report on U.S. consumer prices is considered even more key and has been anxiously awaited by investors, along with the start of third-quarter U.S. earnings, which kick off with results from some of the big U.S. banks on Friday.The S&P 500 financial index ended down 0.3%.Among gainers, PepsiCo Inc rose 4.2% after the soft-drinks maker raised its annual revenue and profit forecasts on firm demand for its sodas and snacks despite multiple price increases.Alcoa Corp jumped 5.3%. The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters.Declining issues outnumbered advancing ones on the NYSE by a 1.64-to-1 ratio; on Nasdaq, a 1.15-to-1 ratio favored decliners.The S&P 500 posted no new 52-week highs and 78 new lows; the Nasdaq Composite recorded 20 new highs and 433 new lows.Volume on U.S. exchanges was 10.01 billion shares, compared with the 11.68 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884452980,"gmtCreate":1631929225240,"gmtModify":1676530671205,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/884452980","repostId":"2168716185","repostType":4,"repost":{"id":"2168716185","pubTimestamp":1631916051,"share":"https://ttm.financial/m/news/2168716185?lang=&edition=fundamental","pubTime":"2021-09-18 06:00","market":"us","language":"en","title":"Wall Street closes rollercoaster week sharply lower","url":"https://stock-news.laohu8.com/highlight/detail?id=2168716185","media":"The Straits Times","summary":"NEW YORK  - US stocks ended sharply lower in a broad sell-off on Friday , ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.All three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.They also posted weekly losses, with the S&P index suffering its biggest tw","content":"<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes rollercoaster week sharply lower</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street closes rollercoaster week sharply lower\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-18 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","OEX":"标普100",".SPX":"S&P 500 Index","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF"},"source_url":"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2168716185","content_text":"NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.\nAll three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.\nThey also posted weekly losses, with the S&P index suffering its biggest two-week drop since February.\n\"The market is struggling with prospects for tighter fiscal policy due to tax increases, and tighter monetary policy due to Fed tapering,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York.\n\"Equity markets are also a little softer due to today's weak Consumer Sentiment data,\" Carter added. \"It's triggering concerns that the Delta variant could slow economic growth.\"\nA potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5 per cent from the current 21 per cent.\nWhile consumer sentiment steadied this month it remains depressed, according to a University of Michigan report, as Americans postpone purchases while inflation remains high.\nInflation is likely to be a major issue next week, when the Federal Open Markets Committee holds its two-day monetary policy meeting. Market participants will be watching closely for changes in nuance which could signal a shift in the Fed's tapering timeline.\n\"It has been a week of mixed economic data and we are focused clearly on what will come out of the Fed meeting next week,\" said Bill Northey, senior investment director at US Bank Wealth Management in Helena, Montana.\nThe Dow Jones Industrial Average fell 166.44 points, or 0.48 per cent, to 34,584.88; the S&P 500 lost 40.76 points, or 0.91 per cent, at 4,432.99; and the Nasdaq Composite dropped 137.96 points, or 0.91 per cent, to 15,043.97.\nThe S&P 500 ended below its 50-day moving average, which in recent history has proven a rather sturdy support level.\nOf the 11 major sectors in the S&P 500, all but healthcare ended in the red, with materials and utilities suffering the biggest percentage drops.\nWall Street ends rollercoaster week sharply lower\nCovid-19 vaccine manufacturers Pfizer and Moderna dropped 1.3 per cent and 2.4 per cent, respectively, as US health officials moved the debate over booster doses to a panel of independent experts.\nUS Steel Corp shed 8 per cent after it unveiled a US$3 billion (S$4 billion) mini-mill investment plan.\nVolume and volatility spiked toward the end of the session due to \"triple witching,\" which is the quarterly, simultaneous expiration of stock options, stock index futures, and stock index options contracts.\nVolume on US exchanges was 15.51 billion shares, compared with the 9.70 billion average over the last 20 trading days.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.97-to-1 ratio; on Nasdaq, a 1.00-to-1 ratio favoured advancers.\nThe S&P 500 posted seven new 52-week highs and two new lows; the Nasdaq Composite recorded 67 new highs and 82 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110168247,"gmtCreate":1622431544789,"gmtModify":1704184320970,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Help me like!!","listText":"Help me like!!","text":"Help me like!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/110168247","repostId":"2139438981","repostType":4,"repost":{"id":"2139438981","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":1622423066,"share":"https://ttm.financial/m/news/2139438981?lang=&edition=fundamental","pubTime":"2021-05-31 09:04","market":"hk","language":"en","title":"Bitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'","url":"https://stock-news.laohu8.com/highlight/detail?id=2139438981","media":"Dow Jones","summary":"Rough month provides a buying opportunity, Robert Kiyosaki says. Bitcoin prices are headed for their worst month since 2011 -- and $one$ prominent investor says that's \"great news.\". \"Bitcoin crashing. Great news,\" tweeted \"Rich Dad, Poor Dad\" author Robert Kiyosaki on Sunday , saying it provides a good buying opportunity. \"When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompe","content":"<p>MW Bitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'</p><p>By Mike <a href=\"https://laohu8.com/S/MUR\">Murphy</a></p><p>Rough month provides a buying opportunity, Robert Kiyosaki says</p><p>Bitcoin prices are headed for their worst month since 2011 -- and <a href=\"https://laohu8.com/S/AONE\">one</a> prominent investor says that's \"great news.\"</p><p>\"Bitcoin crashing. Great news,\" tweeted \"Rich Dad, Poor Dad\" author Robert Kiyosaki on Sunday , saying it provides a good buying opportunity. \"When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed &amp; Wall Street. Remember gold was $300 in 2000.\"</p><p>In April, Kiyosaki predicted in an interview  that bitcoin's price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it \"God's money.\"</p><p>Gold futures  are currently trading above $1,900, up 8% this month , while silver  is above $28, also up about 8% in May.</p><p>Kiyosaki is an outspoken critic of the Fed, the Treasury Department and the Biden administration, calling them \"losers\" , and predicting the demise of the dollar.</p><p>Crypto prices seesawed moderately over the Memorial Day weekend, avoiding the worst fears of some investors who predicted a \"bloody\" weekend of bearishness .</p><p>While bitcoin  fell about 5% on Saturday, it rebounded Sunday and was up about 4% over the previous 24 hours, as of Sunday evening, trading in a range between $33,000 and $37,000. Ethereum  prices similarly slid about 6% Saturday and recovered Sunday, up more than 5% over the previous 24 hours. Dogecoin  also bounced around Saturday and Sunday, and prices were last about even with Friday's end of session.</p><p>Cryptocurrencies trade 24 hours a day -- including Memorial Day on Monday -- and each day's session ends at 5 p.m. <a href=\"https://laohu8.com/S/EML\">Eastern</a>.</p><p>But bitcoin is down more than 37% so far in May, the digital currency's worst monthly performance since September 2011. Bitcoin prices later bottomed out around $2 in October 2011.</p><p>Since its mid-April peak near $65,000, bitcoin has tumbled about 45%.</p><p>Despite a rough couple of months, bitcoin is still up 24% year to date, and up about 270% over the past year.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'</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\">\nBitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'\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\">2021-05-31 09:04</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Bitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'</p><p>By Mike <a href=\"https://laohu8.com/S/MUR\">Murphy</a></p><p>Rough month provides a buying opportunity, Robert Kiyosaki says</p><p>Bitcoin prices are headed for their worst month since 2011 -- and <a href=\"https://laohu8.com/S/AONE\">one</a> prominent investor says that's \"great news.\"</p><p>\"Bitcoin crashing. Great news,\" tweeted \"Rich Dad, Poor Dad\" author Robert Kiyosaki on Sunday , saying it provides a good buying opportunity. \"When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed &amp; Wall Street. Remember gold was $300 in 2000.\"</p><p>In April, Kiyosaki predicted in an interview  that bitcoin's price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it \"God's money.\"</p><p>Gold futures  are currently trading above $1,900, up 8% this month , while silver  is above $28, also up about 8% in May.</p><p>Kiyosaki is an outspoken critic of the Fed, the Treasury Department and the Biden administration, calling them \"losers\" , and predicting the demise of the dollar.</p><p>Crypto prices seesawed moderately over the Memorial Day weekend, avoiding the worst fears of some investors who predicted a \"bloody\" weekend of bearishness .</p><p>While bitcoin  fell about 5% on Saturday, it rebounded Sunday and was up about 4% over the previous 24 hours, as of Sunday evening, trading in a range between $33,000 and $37,000. Ethereum  prices similarly slid about 6% Saturday and recovered Sunday, up more than 5% over the previous 24 hours. Dogecoin  also bounced around Saturday and Sunday, and prices were last about even with Friday's end of session.</p><p>Cryptocurrencies trade 24 hours a day -- including Memorial Day on Monday -- and each day's session ends at 5 p.m. <a href=\"https://laohu8.com/S/EML\">Eastern</a>.</p><p>But bitcoin is down more than 37% so far in May, the digital currency's worst monthly performance since September 2011. Bitcoin prices later bottomed out around $2 in October 2011.</p><p>Since its mid-April peak near $65,000, bitcoin has tumbled about 45%.</p><p>Despite a rough couple of months, bitcoin is still up 24% year to date, and up about 270% over the past year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2139438981","content_text":"MW Bitcoin is headed toward its worst month since 2011; 'Rich Dad, Poor Dad' author says that's 'great news'By Mike MurphyRough month provides a buying opportunity, Robert Kiyosaki saysBitcoin prices are headed for their worst month since 2011 -- and one prominent investor says that's \"great news.\"\"Bitcoin crashing. Great news,\" tweeted \"Rich Dad, Poor Dad\" author Robert Kiyosaki on Sunday , saying it provides a good buying opportunity. \"When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.\"In April, Kiyosaki predicted in an interview  that bitcoin's price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it \"God's money.\"Gold futures  are currently trading above $1,900, up 8% this month , while silver  is above $28, also up about 8% in May.Kiyosaki is an outspoken critic of the Fed, the Treasury Department and the Biden administration, calling them \"losers\" , and predicting the demise of the dollar.Crypto prices seesawed moderately over the Memorial Day weekend, avoiding the worst fears of some investors who predicted a \"bloody\" weekend of bearishness .While bitcoin  fell about 5% on Saturday, it rebounded Sunday and was up about 4% over the previous 24 hours, as of Sunday evening, trading in a range between $33,000 and $37,000. Ethereum  prices similarly slid about 6% Saturday and recovered Sunday, up more than 5% over the previous 24 hours. Dogecoin  also bounced around Saturday and Sunday, and prices were last about even with Friday's end of session.Cryptocurrencies trade 24 hours a day -- including Memorial Day on Monday -- and each day's session ends at 5 p.m. Eastern.But bitcoin is down more than 37% so far in May, the digital currency's worst monthly performance since September 2011. Bitcoin prices later bottomed out around $2 in October 2011.Since its mid-April peak near $65,000, bitcoin has tumbled about 45%.Despite a rough couple of months, bitcoin is still up 24% year to date, and up about 270% over the past year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573817267543490","authorId":"3573817267543490","name":"QINGG","avatar":"https://static.tigerbbs.com/ce35fdb1dd66a012fd9571faa0ab4808","crmLevel":2,"crmLevelSwitch":0,"idStr":"3573817267543490","authorIdStr":"3573817267543490"},"content":"Pls help to reply To this msg ty","text":"Pls help to reply To this msg ty","html":"Pls help to reply To this msg ty"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004956139,"gmtCreate":1642483657427,"gmtModify":1676533714741,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004956139","repostId":"2204077133","repostType":4,"repost":{"id":"2204077133","pubTimestamp":1642462076,"share":"https://ttm.financial/m/news/2204077133?lang=&edition=fundamental","pubTime":"2022-01-18 07:27","market":"us","language":"en","title":"Earnings Season in Full Swing, Fed Blackout Period: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2204077133","media":"Yahoo Finance","summary":"Earnings season is heating up this week.Even with one fewer trading day, markets are closed in obser","content":"<html><head></head><body><p>Earnings season is heating up this week.</p><p>Even with <a href=\"https://laohu8.com/S/AONE.U\">one</a> fewer trading day, markets are closed in observance of Martin Luther King Jr. Day Monday, investors will come back from the holiday weekend to a prolific lineup of fourth quarter reports from market heavyweights such as Goldman Sachs (GS), Proctor &amp; Gamble (PG), Netflix (NFLX) and United Airlines (UAL). The period kicked off in earnest last week with lackluster results from major U.S. banks. JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) were among the financial forms posting less-than-impressive results that dragged on Wall Street and tempered expectations for a strong start to the earnings season.</p><p>As fourth quarter earnings reports pick up speed, investors will shift their focus from monetary policy to look for signs of relief in company profits and other corporate metrics after economic uncertainty and worries around the Federal Reserve’s pace of interest rate hikes have weighed heavily on markets to start the new year.</p><p>The S&amp;P 500 is down 2.79% in 2022 so far, while the Dow has lost 1.84%. The Nasdaq has shed a whopping -5.93% year-to-date, with more than one third of companies in the index at least 50% from their 52-week highs, according to Bloomberg data.</p><p><img src=\"https://static.tigerbbs.com/cf5558c689efb2422aba2f457dd0ea41\" tg-width=\"4160\" tg-height=\"2773\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Earnings season kick into high gear this week. REUTERS/Brendan McDermidBrendan McDermid / reuters</p><p>“We’ll have to see if earnings season comes to the rescue once again,” Ed Clissold, chief U.S. strategist at Ned Davis, told Bloomberg earlier this week. “Still, earnings revisions over the past several weeks weren’t as strong as other pre-announcement periods last year, which leads us to believe that we may not get those fantastic beat rates.”</p><p>In the energy and industrials sector, which typically serves as a key driver in fourth quarter results, underlying fundamentals may lack the strength to power markets this earnings season, PNC chief investment officer Amanda Agati told Yahoo Finance Live.</p><p>“Investors need to be starting to set their expectations a bit lower,” she said. “Not necessarily bearish, but we do think the moderation in terms of growth not only for earnings season going forward, but also for economic growth is really going to be a dominant theme.&#34;</p><p>S&amp;P 500 earnings in aggregate were expected to grow 21.7% for the fourth-quarter of 2021, according to recent data from FactSet Research vice president and senior earnings analyst John Butters. That figure would mark a fourth consecutive quarter that earnings growth tops 20%.</p><p>Industry experts have previously predicted companies in the S&amp;P 500 will report record-high earnings per share in 2022. Butters has pointed out that the bottom-up EPS estimate for the S&amp;P 500 was $222.32 as of last month. If the forecast meets expectations, this would be the highest annual EPS number for the index since FactSet began tracking this metric in 1996.</p><p>FactSet reported that, on average, analysts have overestimated the final EPS number by 7.2%. Even taking the overestimation into account, the final EPS value of $206.32 for 2022 would still beat previous records.</p><p><img src=\"https://static.tigerbbs.com/0d2a8c99ee4ca3221a03b3c596293e3b\" tg-width=\"1804\" tg-height=\"1308\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>The bottom-up EPS estimate for the S&amp;P 500 is $222.32, a figure that would mark the highest on record, according to FactSet data.FactSet Research vice president and senior earnings analyst john butters</p><p>Continued signs of Omicron’s economic impact and increasing indication by the Federal Reserve that it will intervene more aggressively to curb rising inflation, however, continue to dampen the outlook for 2022.</p><p>“Our expectation is that we&#39;re going to have a very solid and robust earnings season,” Schwab Asset Management CEO and CIO Omar Aguilar, though adding that the coming quarters may reflect the toll of Omicron more heavily than fourth quarter numbers.</p><p>“That being said, we expect the earnings to continue to decelerate — still very robust and in a good place as companies continue to drive to generate free cash flow and generate business,” but we will hear a lot about supply chain disruptions and the potential higher costs in these sectors that may have been transitioned to consumers.</p><p>&#34;I think what investors are really focused on is what are these CEOs going to say about two primary things, number one being inflation,&#34; TD Ameritrade Chief Market Strategist JJ Kinahan told Yahoo Finance Life.</p><p>&#34;For the financials, it&#39;ll probably be more wage inflation and their ability to retain workers and pay up... and then on the other end of that, for the non-financials, perhaps it&#39;s more of whether they can go through supply chain issues, because of COVID or because of the cost of inflation, to deliver goods to their end customers.&#34;</p><p>Meanwhile in Washington, Fed policymakers will enter a blackout period this week ahead of the Federal Open Market Committee’s (FOMC) next meeting on Jan. 26. The central bank has been top of mind for investors bracing for interest rate increases and tighter financial conditions that could come as soon as March.</p><p>In confirmation hearings last week, Fed officials have doubled down on earlier assertions that the central bank is prepared to mitigate inflation through higher interest rates.</p><p>Federal Reserve Chair Jerome Powell told Congress Tuesday that if the pace of price increases does not settle, policymakers will get more aggressive with raising short-term borrowing costs. In a separate hearing on Thursday, Fed governor and vice chair nominee Lael Brainard pledged to use that &#34;powerful tool&#34; — the central bank&#39;s benchmark for short-term interest rates called the federal funds rate — to bring inflation down over time.</p><h2>Economic calendar</h2><ul><li><p><b>Monday:</b> <i>Markets closed in observance of Martin Luther King Jr. Day; No economic reports scheduled for release</i></p></li><li><p><b>Tuesday:</b> Empire Manufacturing, January (25 expected, 31.9 prior); NAHB Housing Market Index, January (84 expected, 84 prior); Net Long-Term TIC Flows, November ($7,100,000,000 prior); Total Net TIC Flows, November ($143,000,000,000 prior)</p></li><li><p><b>Wednesday:</b> MBA Mortgage Applications, week ended January 14 (1.4% during prior week); Building Permits, December (1,700,000 expected, 1,712,000 during prior month, upwardly revised to 1,717,000); Building Permits, month-over-month, December (-1.0% expected, 3.6% during prior month, upwardly revised to 3.9%); Housing Starts, December (1,650,000 expected, 1,679,000 during prior month); Housing Starts, month over month, December (-1.7% expected, 11.8% during prior month)</p></li><li><p><b>Thursday:</b> Initial Jobless Claims, week ended January 15 (220,000 expected, 230,000 during prior week) Continuing Claims, week ended January 15 (1,521,000 expected, 1,559,000 prior week); Philadelphia Fed Business Outlook, January (19.8 expected, 15.4 prior); Existing Home Sales, December (6,410,000 expected, 6,460,000 during prior month); Existing Home Sales, month over month, December (-0.8% expected, 1.9% during prior month);</p></li><li><p><b>Friday: </b>Leading Index, December (0.8% expected, 1.1% prior)</p></li></ul><p><b>Earnings:</b></p><ul><li><p><b>Monday:</b> N<i>Markets closed in observance of Martin Luther King Jr. Day; o reports scheduled for release</i></p></li><li><p><b>Tuesday:</b> Goldman Sachs (GS) before market open, PNC Bank (PNC) before market open, Charles Schwab (SCHW), Bank of New York Mellon (BK) and Truist Financial (TFC) before market open; Interactive Brokers (IBKR), Hunt Transport (JBHT) after market close, Citrix Systems (CTXS)</p></li><li><p><b>Wednesday:</b> Bank of America (BAC) before market open, Procter &amp; Gamble (PG) before market open, United Health (UNH) before market open, <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> (MS) before market open, United Airlines (UAL) after market close, Discover Financial (DFS) after market close, State Street (STT) before market open, Comerica (CMA) before market open</p></li><li><p><b>Thursday:</b> Travelers (TRV) and American Airlines (AAL) and Northern Trust (NTRS) before market open; Netflix (NFLX) at market close</p></li><li><p><b>Friday:</b> Schlumberger (SLB), <a href=\"https://laohu8.com/S/GOM\">Ally Financial</a> (ALLY)</p></li></ul></body></html>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Earnings Season in Full Swing, Fed Blackout Period: What to Know This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nEarnings Season in Full Swing, Fed Blackout Period: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-18 07:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/earnings-season-gains-momentum-fed-blackout-period-what-to-know-this-week-163248002.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Earnings season is heating up this week.Even with one fewer trading day, markets are closed in observance of Martin Luther King Jr. Day Monday, investors will come back from the holiday weekend to a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/earnings-season-gains-momentum-fed-blackout-period-what-to-know-this-week-163248002.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",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/earnings-season-gains-momentum-fed-blackout-period-what-to-know-this-week-163248002.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2204077133","content_text":"Earnings season is heating up this week.Even with one fewer trading day, markets are closed in observance of Martin Luther King Jr. Day Monday, investors will come back from the holiday weekend to a prolific lineup of fourth quarter reports from market heavyweights such as Goldman Sachs (GS), Proctor & Gamble (PG), Netflix (NFLX) and United Airlines (UAL). The period kicked off in earnest last week with lackluster results from major U.S. banks. JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) were among the financial forms posting less-than-impressive results that dragged on Wall Street and tempered expectations for a strong start to the earnings season.As fourth quarter earnings reports pick up speed, investors will shift their focus from monetary policy to look for signs of relief in company profits and other corporate metrics after economic uncertainty and worries around the Federal Reserve’s pace of interest rate hikes have weighed heavily on markets to start the new year.The S&P 500 is down 2.79% in 2022 so far, while the Dow has lost 1.84%. The Nasdaq has shed a whopping -5.93% year-to-date, with more than one third of companies in the index at least 50% from their 52-week highs, according to Bloomberg data.Earnings season kick into high gear this week. REUTERS/Brendan McDermidBrendan McDermid / reuters“We’ll have to see if earnings season comes to the rescue once again,” Ed Clissold, chief U.S. strategist at Ned Davis, told Bloomberg earlier this week. “Still, earnings revisions over the past several weeks weren’t as strong as other pre-announcement periods last year, which leads us to believe that we may not get those fantastic beat rates.”In the energy and industrials sector, which typically serves as a key driver in fourth quarter results, underlying fundamentals may lack the strength to power markets this earnings season, PNC chief investment officer Amanda Agati told Yahoo Finance Live.“Investors need to be starting to set their expectations a bit lower,” she said. “Not necessarily bearish, but we do think the moderation in terms of growth not only for earnings season going forward, but also for economic growth is really going to be a dominant theme.\"S&P 500 earnings in aggregate were expected to grow 21.7% for the fourth-quarter of 2021, according to recent data from FactSet Research vice president and senior earnings analyst John Butters. That figure would mark a fourth consecutive quarter that earnings growth tops 20%.Industry experts have previously predicted companies in the S&P 500 will report record-high earnings per share in 2022. Butters has pointed out that the bottom-up EPS estimate for the S&P 500 was $222.32 as of last month. If the forecast meets expectations, this would be the highest annual EPS number for the index since FactSet began tracking this metric in 1996.FactSet reported that, on average, analysts have overestimated the final EPS number by 7.2%. Even taking the overestimation into account, the final EPS value of $206.32 for 2022 would still beat previous records.The bottom-up EPS estimate for the S&P 500 is $222.32, a figure that would mark the highest on record, according to FactSet data.FactSet Research vice president and senior earnings analyst john buttersContinued signs of Omicron’s economic impact and increasing indication by the Federal Reserve that it will intervene more aggressively to curb rising inflation, however, continue to dampen the outlook for 2022.“Our expectation is that we're going to have a very solid and robust earnings season,” Schwab Asset Management CEO and CIO Omar Aguilar, though adding that the coming quarters may reflect the toll of Omicron more heavily than fourth quarter numbers.“That being said, we expect the earnings to continue to decelerate — still very robust and in a good place as companies continue to drive to generate free cash flow and generate business,” but we will hear a lot about supply chain disruptions and the potential higher costs in these sectors that may have been transitioned to consumers.\"I think what investors are really focused on is what are these CEOs going to say about two primary things, number one being inflation,\" TD Ameritrade Chief Market Strategist JJ Kinahan told Yahoo Finance Life.\"For the financials, it'll probably be more wage inflation and their ability to retain workers and pay up... and then on the other end of that, for the non-financials, perhaps it's more of whether they can go through supply chain issues, because of COVID or because of the cost of inflation, to deliver goods to their end customers.\"Meanwhile in Washington, Fed policymakers will enter a blackout period this week ahead of the Federal Open Market Committee’s (FOMC) next meeting on Jan. 26. The central bank has been top of mind for investors bracing for interest rate increases and tighter financial conditions that could come as soon as March.In confirmation hearings last week, Fed officials have doubled down on earlier assertions that the central bank is prepared to mitigate inflation through higher interest rates.Federal Reserve Chair Jerome Powell told Congress Tuesday that if the pace of price increases does not settle, policymakers will get more aggressive with raising short-term borrowing costs. In a separate hearing on Thursday, Fed governor and vice chair nominee Lael Brainard pledged to use that \"powerful tool\" — the central bank's benchmark for short-term interest rates called the federal funds rate — to bring inflation down over time.Economic calendarMonday: Markets closed in observance of Martin Luther King Jr. Day; No economic reports scheduled for releaseTuesday: Empire Manufacturing, January (25 expected, 31.9 prior); NAHB Housing Market Index, January (84 expected, 84 prior); Net Long-Term TIC Flows, November ($7,100,000,000 prior); Total Net TIC Flows, November ($143,000,000,000 prior)Wednesday: MBA Mortgage Applications, week ended January 14 (1.4% during prior week); Building Permits, December (1,700,000 expected, 1,712,000 during prior month, upwardly revised to 1,717,000); Building Permits, month-over-month, December (-1.0% expected, 3.6% during prior month, upwardly revised to 3.9%); Housing Starts, December (1,650,000 expected, 1,679,000 during prior month); Housing Starts, month over month, December (-1.7% expected, 11.8% during prior month)Thursday: Initial Jobless Claims, week ended January 15 (220,000 expected, 230,000 during prior week) Continuing Claims, week ended January 15 (1,521,000 expected, 1,559,000 prior week); Philadelphia Fed Business Outlook, January (19.8 expected, 15.4 prior); Existing Home Sales, December (6,410,000 expected, 6,460,000 during prior month); Existing Home Sales, month over month, December (-0.8% expected, 1.9% during prior month);Friday: Leading Index, December (0.8% expected, 1.1% prior)Earnings:Monday: NMarkets closed in observance of Martin Luther King Jr. Day; o reports scheduled for releaseTuesday: Goldman Sachs (GS) before market open, PNC Bank (PNC) before market open, Charles Schwab (SCHW), Bank of New York Mellon (BK) and Truist Financial (TFC) before market open; Interactive Brokers (IBKR), Hunt Transport (JBHT) after market close, Citrix Systems (CTXS)Wednesday: Bank of America (BAC) before market open, Procter & Gamble (PG) before market open, United Health (UNH) before market open, Morgan Stanley (MS) before market open, United Airlines (UAL) after market close, Discover Financial (DFS) after market close, State Street (STT) before market open, Comerica (CMA) before market openThursday: Travelers (TRV) and American Airlines (AAL) and Northern Trust (NTRS) before market open; Netflix (NFLX) at market closeFriday: Schlumberger (SLB), Ally Financial (ALLY)","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142607685,"gmtCreate":1626144012947,"gmtModify":1703754222058,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/142607685","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","pubTimestamp":1626126339,"share":"https://ttm.financial/m/news/1119839711?lang=&edition=fundamental","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<blockquote>\n <b>Dow ends just shy of 35,000 milestone.</b>\n</blockquote>\n<p>The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p>\n<p>The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p>\n<p><b>How did stock benchmarks end?</b></p>\n<ul>\n <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>\n <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>\n <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li>\n</ul>\n<p>On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p>\n<p><b>What drove the market?</b></p>\n<p>Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p>\n<p>“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p>\n<p>“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p>\n<p>Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p>\n<p>Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p>\n<p>Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p>\n<p>Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p>\n<p>Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p>\n<p>“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p>\n<p>“Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p>\n<p>“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p>\n<p>No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p>\n<p>Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p>\n<p>“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p>\n<p>“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p>\n<p><b>Which companies were in focus?</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>\n <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>\n <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>\n <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>\n <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>\n <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>\n <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>\n <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>\n <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li>\n</ul>\n<p><b>How did other assets trade?</b></p>\n<ul>\n <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>\n <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>\n <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>\n <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li>\n</ul>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 05:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended ...</p>\n\n<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?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":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966561156,"gmtCreate":1669595217375,"gmtModify":1676538210288,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Lilr","listText":"Lilr","text":"Lilr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9966561156","repostId":"1198835584","repostType":4,"repost":{"id":"1198835584","pubTimestamp":1669589744,"share":"https://ttm.financial/m/news/1198835584?lang=&edition=fundamental","pubTime":"2022-11-28 06:55","market":"us","language":"en","title":"Jobs, Housing Data, GDP Bring Investors Into December: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1198835584","media":"Yahoo Finance","summary":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the wee","content":"<html><head></head><body><p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.</p><p><img src=\"https://static.tigerbbs.com/07e084694ac7c797625be53771937802\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.</p><p>The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.</p><p>Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.</p><p>Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.</p><p>“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”</p><p>On the inflation front, investors will be watching the personal consumption expenditures&#39; (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.</p><p>According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.</p><p>For traders, this year&#39;s action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed&#39;s benchmark interest rate range awaits investors in mid-December.</p><p>As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fa8de8c2a5adf749e95d135caffd002\" tg-width=\"705\" tg-height=\"477\" referrerpolicy=\"no-referrer\"/><span>Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.</span></p><p>Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.</p><p>“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed&#39;s December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”</p><p>While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.</p><p>Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”</p><p>“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock&#39;s team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”</p><p>Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are &#34;meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.</p><p>&#34;We think that is, of course, a risk for equities,&#34; Ackman said. &#34;And part of our thesis is we think inflation is going to be structurally higher.&#34;</p><p>Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.</p><p>Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).</p><p>Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.</p><p>The S&amp;P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.</p><h2>Economic Calendar</h2><p><b>Monday:</b> <b><i>Dallas Fed Manufacturing Activity</i></b>, November (-23.0 expected, -19.4 during prior month)</p><p><b>Tuesday:</b> <b><i>FHFA Housing Pricing Index</i></b>, September (-1.3% expected, -0.7% during prior month); <b><i>House Price Purchasing Index</i></b>, Q3 (4.0% during prior quarter); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, month-over-month, September (-1.15% expected, -1.32% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, year-over-year, September (10.65% expected, 13.08% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index</i></b>(12.99% during prior month); <b><i>Conference Board Consumer Confidence</i></b>, November (100.0 expected, 102.5 during prior month)</p><p><b>Wednesday:</b> <b><i>MBA Mortgage Applications</i></b>, week ended Nov. 25 (2.2% during prior week); <b><i>ADP Employment Change</i></b>, November (195,000 expected, 239,000 during prior month); <b><i>GDP Annualized</i></b>, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);<b><i>Personal Consumption</i></b>, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); <b><i>GDP Price Index</i></b>, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); <b><i>Core PCE</i></b>, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); <b><i>Advance Goods Trade Balance</i></b>, September (-$90.2 billion expected, -$92.2 billion during prior month); <b><i>Wholesale Inventories</i></b>, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); <b><i>Retail Inventories</i></b>, month-over-month, October (0.4% during prior month);<b><i>MNI Chicago PMI,</i></b>November (47.0 expected, 45.2 during prior month); <b><i>PendingHome Sales</i></b>, month-over-month, October (-5.2% expected, -10.2% during prior month); <b><i>JOLTS Job Openings</i></b>, October (10.325 million expected, 10.717 million during prior month); <b><i>Federal Reserve Beige Book</i></b></p><p><b>Thursday:</b> <b><i>Challenger Job Cuts</i></b>, year-over-year, November (48.3% during prior month); <b><i>Personal Income</i></b>, October (0.4% expected, 0.4% during prior month); <b><i>Personal Spending</i></b>, October (0.6% expected, 0.8% during prior month); <b><i>PCE Deflator</i></b>, month-over-month, October (0.4% expected, 0.3% during prior month);<b><i>PCE Deflator</i></b>, year-over-year, October (6.0% expected, 6.2% during prior month); <b><i>PCE Core Deflator</i></b>, month-over-month, October (0.3% expected, 0.5% during prior month); <b><i>PCE Core Deflator</i></b>, year-over-year, October (5.0% expected, 5.1% during prior month); <b><i>Initial Jobless Claims</i></b>, week ended Nov. 26 (240,000 during prior week); <b><i>Continuing Claims,</i></b>week ended Nov. 19 (1.551 million during prior week); <b><i>S&amp;P Global U.S. Manufacturing PMI</i></b>, November final (49.8 expected, 50.2 during prior month); <b><i>Construction Spending</i></b>, month-over-month, October (-0.2% expected, -0.2% during prior month); <b><i>ISM Manufacturing</i></b>, November (49.8 expected, 50.2 during prior month); <b><i>ISM Prices Paid</i></b>, November (46.6 during prior month); <b><i>ISM New Orders</i></b>, September (49.2 during prior month); <b><i>ISM Employment</i></b>, November (50.0 during prior month); <b><i>WARDS Total Vehicle Sales</i></b>, November (14.90 million expected, 14.90 prior month)</p><p><b>Friday:</b><b><i>Change in Nonfarm Payrolls</i></b>, November (200,000 expected, 216,000 during prior month); <b><i>Unemployment Rate</i></b>, November (3.7% expected, 3.7% during prior month); <b><i>Average Hourly Earnings</i></b>, month-over-month, November (0.3% expected, 0.4% during prior month);<b><i>Average Hourly Earnings</i></b>, year-over-year, November (4.6% expected, 4.7% prior month); <b><i>Average Weekly Hours All Employees</i></b>, November (34.5 expected, 34.5 during prior month); <b><i>Labor Force Participation Rate</i></b>, November (62.3% expected, 62.3% during prior month); <b><i>Underemployment Rate</i></b>, November (60.8% prior month)</p><p>—</p><h2><b>Earnings Calendar</b></h2><p><img src=\"https://static.tigerbbs.com/a40d1324fad197369d0fd7fc5d75b1b5\" tg-width=\"2027\" tg-height=\"1426\" referrerpolicy=\"no-referrer\"/></p><p><b>Monday:</b> Arrowhead (ARWR), AZEK (AZEK)</p><p><b>Tuesday:</b> Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)</p><p><b>Wednesday:</b> Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria&#39;s Secret (VSCO)</p><p><b>Thursday:</b> Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)</p><p><b>Friday:</b> Cracker Barrel (CBRL), Genesco (GCO)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJobs, Housing Data, GDP Bring Investors Into December: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 06:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.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://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198835584","content_text":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”On the inflation front, investors will be watching the personal consumption expenditures' (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.For traders, this year's action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed's benchmark interest rate range awaits investors in mid-December.As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed's December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock's team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are \"meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.\"We think that is, of course, a risk for equities,\" Ackman said. \"And part of our thesis is we think inflation is going to be structurally higher.\"Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.The S&P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.Economic CalendarMonday: Dallas Fed Manufacturing Activity, November (-23.0 expected, -19.4 during prior month)Tuesday: FHFA Housing Pricing Index, September (-1.3% expected, -0.7% during prior month); House Price Purchasing Index, Q3 (4.0% during prior quarter); S&P CoreLogic Case-Shiller 20-City Composite, month-over-month, September (-1.15% expected, -1.32% during prior month); S&P CoreLogic Case-Shiller 20-City Composite, year-over-year, September (10.65% expected, 13.08% during prior month); S&P CoreLogic Case-Shiller U.S. National Home Price Index(12.99% during prior month); Conference Board Consumer Confidence, November (100.0 expected, 102.5 during prior month)Wednesday: MBA Mortgage Applications, week ended Nov. 25 (2.2% during prior week); ADP Employment Change, November (195,000 expected, 239,000 during prior month); GDP Annualized, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);Personal Consumption, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); GDP Price Index, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); Core PCE, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); Advance Goods Trade Balance, September (-$90.2 billion expected, -$92.2 billion during prior month); Wholesale Inventories, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); Retail Inventories, month-over-month, October (0.4% during prior month);MNI Chicago PMI,November (47.0 expected, 45.2 during prior month); PendingHome Sales, month-over-month, October (-5.2% expected, -10.2% during prior month); JOLTS Job Openings, October (10.325 million expected, 10.717 million during prior month); Federal Reserve Beige BookThursday: Challenger Job Cuts, year-over-year, November (48.3% during prior month); Personal Income, October (0.4% expected, 0.4% during prior month); Personal Spending, October (0.6% expected, 0.8% during prior month); PCE Deflator, month-over-month, October (0.4% expected, 0.3% during prior month);PCE Deflator, year-over-year, October (6.0% expected, 6.2% during prior month); PCE Core Deflator, month-over-month, October (0.3% expected, 0.5% during prior month); PCE Core Deflator, year-over-year, October (5.0% expected, 5.1% during prior month); Initial Jobless Claims, week ended Nov. 26 (240,000 during prior week); Continuing Claims,week ended Nov. 19 (1.551 million during prior week); S&P Global U.S. Manufacturing PMI, November final (49.8 expected, 50.2 during prior month); Construction Spending, month-over-month, October (-0.2% expected, -0.2% during prior month); ISM Manufacturing, November (49.8 expected, 50.2 during prior month); ISM Prices Paid, November (46.6 during prior month); ISM New Orders, September (49.2 during prior month); ISM Employment, November (50.0 during prior month); WARDS Total Vehicle Sales, November (14.90 million expected, 14.90 prior month)Friday:Change in Nonfarm Payrolls, November (200,000 expected, 216,000 during prior month); Unemployment Rate, November (3.7% expected, 3.7% during prior month); Average Hourly Earnings, month-over-month, November (0.3% expected, 0.4% during prior month);Average Hourly Earnings, year-over-year, November (4.6% expected, 4.7% prior month); Average Weekly Hours All Employees, November (34.5 expected, 34.5 during prior month); Labor Force Participation Rate, November (62.3% expected, 62.3% during prior month); Underemployment Rate, November (60.8% prior month)—Earnings CalendarMonday: Arrowhead (ARWR), AZEK (AZEK)Tuesday: Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)Wednesday: Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria's Secret (VSCO)Thursday: Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)Friday: Cracker Barrel (CBRL), Genesco (GCO)","news_type":1},"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966569273,"gmtCreate":1669595050392,"gmtModify":1676538210242,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9966569273","repostId":"1198835584","repostType":4,"repost":{"id":"1198835584","pubTimestamp":1669589744,"share":"https://ttm.financial/m/news/1198835584?lang=&edition=fundamental","pubTime":"2022-11-28 06:55","market":"us","language":"en","title":"Jobs, Housing Data, GDP Bring Investors Into December: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1198835584","media":"Yahoo Finance","summary":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the wee","content":"<html><head></head><body><p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.</p><p><img src=\"https://static.tigerbbs.com/07e084694ac7c797625be53771937802\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.</p><p>The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.</p><p>Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.</p><p>Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.</p><p>“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”</p><p>On the inflation front, investors will be watching the personal consumption expenditures&#39; (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.</p><p>According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.</p><p>For traders, this year&#39;s action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed&#39;s benchmark interest rate range awaits investors in mid-December.</p><p>As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fa8de8c2a5adf749e95d135caffd002\" tg-width=\"705\" tg-height=\"477\" referrerpolicy=\"no-referrer\"/><span>Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.</span></p><p>Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.</p><p>“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed&#39;s December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”</p><p>While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.</p><p>Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”</p><p>“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock&#39;s team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”</p><p>Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are &#34;meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.</p><p>&#34;We think that is, of course, a risk for equities,&#34; Ackman said. &#34;And part of our thesis is we think inflation is going to be structurally higher.&#34;</p><p>Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.</p><p>Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).</p><p>Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.</p><p>The S&amp;P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.</p><h2>Economic Calendar</h2><p><b>Monday:</b> <b><i>Dallas Fed Manufacturing Activity</i></b>, November (-23.0 expected, -19.4 during prior month)</p><p><b>Tuesday:</b> <b><i>FHFA Housing Pricing Index</i></b>, September (-1.3% expected, -0.7% during prior month); <b><i>House Price Purchasing Index</i></b>, Q3 (4.0% during prior quarter); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, month-over-month, September (-1.15% expected, -1.32% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, year-over-year, September (10.65% expected, 13.08% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index</i></b>(12.99% during prior month); <b><i>Conference Board Consumer Confidence</i></b>, November (100.0 expected, 102.5 during prior month)</p><p><b>Wednesday:</b> <b><i>MBA Mortgage Applications</i></b>, week ended Nov. 25 (2.2% during prior week); <b><i>ADP Employment Change</i></b>, November (195,000 expected, 239,000 during prior month); <b><i>GDP Annualized</i></b>, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);<b><i>Personal Consumption</i></b>, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); <b><i>GDP Price Index</i></b>, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); <b><i>Core PCE</i></b>, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); <b><i>Advance Goods Trade Balance</i></b>, September (-$90.2 billion expected, -$92.2 billion during prior month); <b><i>Wholesale Inventories</i></b>, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); <b><i>Retail Inventories</i></b>, month-over-month, October (0.4% during prior month);<b><i>MNI Chicago PMI,</i></b>November (47.0 expected, 45.2 during prior month); <b><i>PendingHome Sales</i></b>, month-over-month, October (-5.2% expected, -10.2% during prior month); <b><i>JOLTS Job Openings</i></b>, October (10.325 million expected, 10.717 million during prior month); <b><i>Federal Reserve Beige Book</i></b></p><p><b>Thursday:</b> <b><i>Challenger Job Cuts</i></b>, year-over-year, November (48.3% during prior month); <b><i>Personal Income</i></b>, October (0.4% expected, 0.4% during prior month); <b><i>Personal Spending</i></b>, October (0.6% expected, 0.8% during prior month); <b><i>PCE Deflator</i></b>, month-over-month, October (0.4% expected, 0.3% during prior month);<b><i>PCE Deflator</i></b>, year-over-year, October (6.0% expected, 6.2% during prior month); <b><i>PCE Core Deflator</i></b>, month-over-month, October (0.3% expected, 0.5% during prior month); <b><i>PCE Core Deflator</i></b>, year-over-year, October (5.0% expected, 5.1% during prior month); <b><i>Initial Jobless Claims</i></b>, week ended Nov. 26 (240,000 during prior week); <b><i>Continuing Claims,</i></b>week ended Nov. 19 (1.551 million during prior week); <b><i>S&amp;P Global U.S. Manufacturing PMI</i></b>, November final (49.8 expected, 50.2 during prior month); <b><i>Construction Spending</i></b>, month-over-month, October (-0.2% expected, -0.2% during prior month); <b><i>ISM Manufacturing</i></b>, November (49.8 expected, 50.2 during prior month); <b><i>ISM Prices Paid</i></b>, November (46.6 during prior month); <b><i>ISM New Orders</i></b>, September (49.2 during prior month); <b><i>ISM Employment</i></b>, November (50.0 during prior month); <b><i>WARDS Total Vehicle Sales</i></b>, November (14.90 million expected, 14.90 prior month)</p><p><b>Friday:</b><b><i>Change in Nonfarm Payrolls</i></b>, November (200,000 expected, 216,000 during prior month); <b><i>Unemployment Rate</i></b>, November (3.7% expected, 3.7% during prior month); <b><i>Average Hourly Earnings</i></b>, month-over-month, November (0.3% expected, 0.4% during prior month);<b><i>Average Hourly Earnings</i></b>, year-over-year, November (4.6% expected, 4.7% prior month); <b><i>Average Weekly Hours All Employees</i></b>, November (34.5 expected, 34.5 during prior month); <b><i>Labor Force Participation Rate</i></b>, November (62.3% expected, 62.3% during prior month); <b><i>Underemployment Rate</i></b>, November (60.8% prior month)</p><p>—</p><h2><b>Earnings Calendar</b></h2><p><img src=\"https://static.tigerbbs.com/a40d1324fad197369d0fd7fc5d75b1b5\" tg-width=\"2027\" tg-height=\"1426\" referrerpolicy=\"no-referrer\"/></p><p><b>Monday:</b> Arrowhead (ARWR), AZEK (AZEK)</p><p><b>Tuesday:</b> Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)</p><p><b>Wednesday:</b> Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria&#39;s Secret (VSCO)</p><p><b>Thursday:</b> Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)</p><p><b>Friday:</b> Cracker Barrel (CBRL), Genesco (GCO)</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>Jobs, Housing Data, GDP Bring Investors Into December: What to Know This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nJobs, Housing Data, GDP Bring Investors Into December: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 06:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.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://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198835584","content_text":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”On the inflation front, investors will be watching the personal consumption expenditures' (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.For traders, this year's action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed's benchmark interest rate range awaits investors in mid-December.As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed's December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock's team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are \"meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.\"We think that is, of course, a risk for equities,\" Ackman said. \"And part of our thesis is we think inflation is going to be structurally higher.\"Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.The S&P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.Economic CalendarMonday: Dallas Fed Manufacturing Activity, November (-23.0 expected, -19.4 during prior month)Tuesday: FHFA Housing Pricing Index, September (-1.3% expected, -0.7% during prior month); House Price Purchasing Index, Q3 (4.0% during prior quarter); S&P CoreLogic Case-Shiller 20-City Composite, month-over-month, September (-1.15% expected, -1.32% during prior month); S&P CoreLogic Case-Shiller 20-City Composite, year-over-year, September (10.65% expected, 13.08% during prior month); S&P CoreLogic Case-Shiller U.S. National Home Price Index(12.99% during prior month); Conference Board Consumer Confidence, November (100.0 expected, 102.5 during prior month)Wednesday: MBA Mortgage Applications, week ended Nov. 25 (2.2% during prior week); ADP Employment Change, November (195,000 expected, 239,000 during prior month); GDP Annualized, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);Personal Consumption, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); GDP Price Index, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); Core PCE, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); Advance Goods Trade Balance, September (-$90.2 billion expected, -$92.2 billion during prior month); Wholesale Inventories, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); Retail Inventories, month-over-month, October (0.4% during prior month);MNI Chicago PMI,November (47.0 expected, 45.2 during prior month); PendingHome Sales, month-over-month, October (-5.2% expected, -10.2% during prior month); JOLTS Job Openings, October (10.325 million expected, 10.717 million during prior month); Federal Reserve Beige BookThursday: Challenger Job Cuts, year-over-year, November (48.3% during prior month); Personal Income, October (0.4% expected, 0.4% during prior month); Personal Spending, October (0.6% expected, 0.8% during prior month); PCE Deflator, month-over-month, October (0.4% expected, 0.3% during prior month);PCE Deflator, year-over-year, October (6.0% expected, 6.2% during prior month); PCE Core Deflator, month-over-month, October (0.3% expected, 0.5% during prior month); PCE Core Deflator, year-over-year, October (5.0% expected, 5.1% during prior month); Initial Jobless Claims, week ended Nov. 26 (240,000 during prior week); Continuing Claims,week ended Nov. 19 (1.551 million during prior week); S&P Global U.S. Manufacturing PMI, November final (49.8 expected, 50.2 during prior month); Construction Spending, month-over-month, October (-0.2% expected, -0.2% during prior month); ISM Manufacturing, November (49.8 expected, 50.2 during prior month); ISM Prices Paid, November (46.6 during prior month); ISM New Orders, September (49.2 during prior month); ISM Employment, November (50.0 during prior month); WARDS Total Vehicle Sales, November (14.90 million expected, 14.90 prior month)Friday:Change in Nonfarm Payrolls, November (200,000 expected, 216,000 during prior month); Unemployment Rate, November (3.7% expected, 3.7% during prior month); Average Hourly Earnings, month-over-month, November (0.3% expected, 0.4% during prior month);Average Hourly Earnings, year-over-year, November (4.6% expected, 4.7% prior month); Average Weekly Hours All Employees, November (34.5 expected, 34.5 during prior month); Labor Force Participation Rate, November (62.3% expected, 62.3% during prior month); Underemployment Rate, November (60.8% prior month)—Earnings CalendarMonday: Arrowhead (ARWR), AZEK (AZEK)Tuesday: Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)Wednesday: Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria's Secret (VSCO)Thursday: Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)Friday: Cracker Barrel (CBRL), Genesco (GCO)","news_type":1},"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9984457151,"gmtCreate":1667717121473,"gmtModify":1676537955828,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9984457151","repostId":"1179650981","repostType":4,"repost":{"id":"1179650981","pubTimestamp":1667698820,"share":"https://ttm.financial/m/news/1179650981?lang=&edition=fundamental","pubTime":"2022-11-06 09:40","market":"us","language":"en","title":"Chaos, Confusion at Twitter in Elon Musk’s First Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1179650981","media":"wall street journal","summary":"He said he gave a copy of the cartoon to Mr. Musk.On Monday, Mr. Cornet said he was summoned to work on new projects. Two days later, he received an email that read, in part: “We regret to inform you that your employment is terminated effective immediately. Your recent behavior has violated multiple policies.”He said he wasn’t sure which policies he had violated. He added that he had recently created a browser extension for downloading work emails, which he believed would help colleagues save im","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/eaf6c671c81ce0cff97e0f1328b85621\" tg-width=\"1278\" tg-height=\"1278\" referrerpolicy=\"no-referrer\"/>Inside Twitter Inc. in the week after Elon Musk took it over, almost no one seemed to know for sure what was going on.</p><p>As Mr. Musk opined and joked on the platform about possible product changes, the mood among many inside the company was anxious and grim, according to interviews with employees. The one thing that seemed certain to employees was thatmany of them would soon lose their jobs, they said.</p><p>Late Thursday,the ax started falling, as the company hacked away large parts of the workforce of roughly 7,500 people, aiming to reduce costs and reshape Twitter to align with Mr. Musk’s vision. Befitting a platform built for real-time reaction, staffers tweeted as they lost access to company Slack and email accounts, not knowing for sure if that meant they were fired until official termination notices were sent on Friday morning.</p><p>The mass layoffs were the culmination of a dizzying week under Mr. Musk’s leadership, in which employees tried to adjust to his frenetic working style as their own futures at the company were in doubt. In internal messages and public posts, workers confronted the chaos with a mixture of anguish and wry jokes.</p><p>One programmer,Sheon Han, tweeted a picture of the Twitter logo next to a head of lettuce, in a spoof on theU.K. tabloid stuntto see if an unrefrigerated head of lettuce would last longer than Prime MinisterLiz Truss. In the case of Ms. Truss, the lettuce won.</p><p>“My employee login @Twitter vs. Lettuce,” Mr. Han tweeted on Wednesday night, adding, “Let’s goooooooooo.”</p><p>Mr. Han declined to provide comment about his employment status Friday.</p><p>Manu Cornet, a 41-year-old software engineer, said he was among the employees who met Mr. Musk at Twitter’s San Francisco headquarters in the billionaire’s first days as the self-styled “Chief Twit.”</p><p>Mr. Cornet, also an artist, had drawn a cartoon of a man who had accidentally broken a figurine of a bird resembling the Twitter logo, with another man saying: “You break it, you buy it!” He said he gave a copy of the cartoon to Mr. Musk.</p><p>On Monday, Mr. Cornet said he was summoned to work on new projects. Two days later, he received an email that read, in part: “We regret to inform you that your employment is terminated effective immediately. Your recent behavior has violated multiple policies.”</p><p>He said he wasn’t sure which policies he had violated. He added that he had recently created a browser extension for downloading work emails, which he believed would help colleagues save important documents in case they got laid off.</p><p>Mr. Cornet is among agroup of employees who filed a lawsuit against Twitterin San Francisco federal court accusing the company of violating federal and state law by not providing the legally required warning in advance of mass layoffs.</p><p>Twitter representatives didn’t respond to requests for comment.</p><p>In an email late Thursday telling employees that they would be informed the following morning if they were fired, the company said the layoffs were “an effort to place Twitter on a healthy path.”</p><p>Mr. Musk, in a tweet late Friday, said: “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.” He said affected employees were offered three months of severance.</p><p>On Saturday, Twitter co-founderJack Dorsey, who stepped down as CEO last year and who supported Mr. Musk’s acquisition, tweeted saying he took responsibility for growing the company too quickly. “I apologize for that,” he wrote.</p><p>Employees trickled out of Twitter steadily in the months after Mr. Musk’s $44 billion deal in April to buy the company, anxious about how things would play out. As Mr. Musk began to get cold feet, helashed out publicly at Twitter leadersincluding then-CEOParag Agrawal, fueling tension among many employees. Mr. Musk waged a monthslong legal battle to escape the deal before finally agreeing, again, to buy the platform last month.</p><p>As the billionaire completed the takeoveron Oct. 27, Mr. Agrawal and several other top executives were fired immediately. That was followed by media reports ofplanning for broad layoffs. Fears grew among many employees that Mr. Musk could try to cut jobs before a Nov. 1 stock vesting date, employees said. In a tweet after taking over, Mr. Musk denied that he would do so.</p><p>That meant employees’ grants were expected to be paid as cash at $54.20 a share, the price Mr. Musk paid for the company, according to SEC filings. The price represented a healthy premium over what Twitter had been valued at before the acquisition, creating a substantial windfall for employees with equity holdings.</p><p>Shortly after Mr. Musk’s takeover, Twitter managers were told to draw up lists evaluating staffers—essentially deciding who might stay and who might get fired, according to people familiar with the matter. Some employees referred to Mr. Musk’s allies as “goons,” they said.</p><p>The frustration among some employees was amplified, some of them said, byTesla engineers being brought into examine Twitter employees’ coding work. The Twitter employees believed those evaluations were being factored into the layoff plans, the people said.</p><p>The specifics of when the layoffs would come, and on what scale, were closely guarded.</p><p>One senior employee said that even information communicated to the inner circle was unreliable and contradictory. “The chaos level is so high,” the employee said.</p><p>Mr. Musk gathered acircle of advisers to help him reshape Twitter, including venture-capitalistsJason CalacanisandSriram Krishnan, also a former Twitter product leader. Meanwhile, Mr. Musk fired off tweets about various business possibilities. Employees were given days to develop new products, and plans appeared to change.</p><p>This rapid-fire approach to product development was a radical departure from the development style at the old Twitter, where any new products were closely studied to gauge how they would affect usage rates and other potential impacts.</p><p>Mr. Musk’s plan includes changing the platform byexpanding user verificationand improvingthe subscription offeringsto become less reliant on advertisers. He also discussed adding ways for content creators to make money on the platform so that they could earn a living on it, the way creators do on TikTok and YouTube.</p><p>Mr. Musk at one point tweeted a poll asking whether he should bring back Vine, the short-video service that Twitter shut down in 2016. The company has discussed relaunching a version of Vine by the end of the year, according to one employee.</p><p>Soon after the email to all employees went out Thursday, a staffer posted to the company’s internal Slack channel wishing everyone well and concluding with the “saluting face” emoji, according to employees.</p><p>That kicked off an hourslong series of such salutes from hundreds of Twitter employees. It eventually spilled into public tweets, with the saluting emoji becoming a symbol of the end of the pre-Musk version of the company. “There was this weird sense of celebration,” one employee said. “We were all together marking the ending of this thing.”</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chaos, Confusion at Twitter in Elon Musk’s First Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChaos, Confusion at Twitter in Elon Musk’s First Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-06 09:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/first-week-of-elon-musks-twitter-was-chaos-and-confusion-for-employees-11667670558?mod=hp_lead_pos1><strong>wall street journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inside Twitter Inc. in the week after Elon Musk took it over, almost no one seemed to know for sure what was going on.As Mr. Musk opined and joked on the platform about possible product changes, the ...</p>\n\n<a href=\"https://www.wsj.com/articles/first-week-of-elon-musks-twitter-was-chaos-and-confusion-for-employees-11667670558?mod=hp_lead_pos1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","TSLA":"特斯拉"},"source_url":"https://www.wsj.com/articles/first-week-of-elon-musks-twitter-was-chaos-and-confusion-for-employees-11667670558?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179650981","content_text":"Inside Twitter Inc. in the week after Elon Musk took it over, almost no one seemed to know for sure what was going on.As Mr. Musk opined and joked on the platform about possible product changes, the mood among many inside the company was anxious and grim, according to interviews with employees. The one thing that seemed certain to employees was thatmany of them would soon lose their jobs, they said.Late Thursday,the ax started falling, as the company hacked away large parts of the workforce of roughly 7,500 people, aiming to reduce costs and reshape Twitter to align with Mr. Musk’s vision. Befitting a platform built for real-time reaction, staffers tweeted as they lost access to company Slack and email accounts, not knowing for sure if that meant they were fired until official termination notices were sent on Friday morning.The mass layoffs were the culmination of a dizzying week under Mr. Musk’s leadership, in which employees tried to adjust to his frenetic working style as their own futures at the company were in doubt. In internal messages and public posts, workers confronted the chaos with a mixture of anguish and wry jokes.One programmer,Sheon Han, tweeted a picture of the Twitter logo next to a head of lettuce, in a spoof on theU.K. tabloid stuntto see if an unrefrigerated head of lettuce would last longer than Prime MinisterLiz Truss. In the case of Ms. Truss, the lettuce won.“My employee login @Twitter vs. Lettuce,” Mr. Han tweeted on Wednesday night, adding, “Let’s goooooooooo.”Mr. Han declined to provide comment about his employment status Friday.Manu Cornet, a 41-year-old software engineer, said he was among the employees who met Mr. Musk at Twitter’s San Francisco headquarters in the billionaire’s first days as the self-styled “Chief Twit.”Mr. Cornet, also an artist, had drawn a cartoon of a man who had accidentally broken a figurine of a bird resembling the Twitter logo, with another man saying: “You break it, you buy it!” He said he gave a copy of the cartoon to Mr. Musk.On Monday, Mr. Cornet said he was summoned to work on new projects. Two days later, he received an email that read, in part: “We regret to inform you that your employment is terminated effective immediately. Your recent behavior has violated multiple policies.”He said he wasn’t sure which policies he had violated. He added that he had recently created a browser extension for downloading work emails, which he believed would help colleagues save important documents in case they got laid off.Mr. Cornet is among agroup of employees who filed a lawsuit against Twitterin San Francisco federal court accusing the company of violating federal and state law by not providing the legally required warning in advance of mass layoffs.Twitter representatives didn’t respond to requests for comment.In an email late Thursday telling employees that they would be informed the following morning if they were fired, the company said the layoffs were “an effort to place Twitter on a healthy path.”Mr. Musk, in a tweet late Friday, said: “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.” He said affected employees were offered three months of severance.On Saturday, Twitter co-founderJack Dorsey, who stepped down as CEO last year and who supported Mr. Musk’s acquisition, tweeted saying he took responsibility for growing the company too quickly. “I apologize for that,” he wrote.Employees trickled out of Twitter steadily in the months after Mr. Musk’s $44 billion deal in April to buy the company, anxious about how things would play out. As Mr. Musk began to get cold feet, helashed out publicly at Twitter leadersincluding then-CEOParag Agrawal, fueling tension among many employees. Mr. Musk waged a monthslong legal battle to escape the deal before finally agreeing, again, to buy the platform last month.As the billionaire completed the takeoveron Oct. 27, Mr. Agrawal and several other top executives were fired immediately. That was followed by media reports ofplanning for broad layoffs. Fears grew among many employees that Mr. Musk could try to cut jobs before a Nov. 1 stock vesting date, employees said. In a tweet after taking over, Mr. Musk denied that he would do so.That meant employees’ grants were expected to be paid as cash at $54.20 a share, the price Mr. Musk paid for the company, according to SEC filings. The price represented a healthy premium over what Twitter had been valued at before the acquisition, creating a substantial windfall for employees with equity holdings.Shortly after Mr. Musk’s takeover, Twitter managers were told to draw up lists evaluating staffers—essentially deciding who might stay and who might get fired, according to people familiar with the matter. Some employees referred to Mr. Musk’s allies as “goons,” they said.The frustration among some employees was amplified, some of them said, byTesla engineers being brought into examine Twitter employees’ coding work. The Twitter employees believed those evaluations were being factored into the layoff plans, the people said.The specifics of when the layoffs would come, and on what scale, were closely guarded.One senior employee said that even information communicated to the inner circle was unreliable and contradictory. “The chaos level is so high,” the employee said.Mr. Musk gathered acircle of advisers to help him reshape Twitter, including venture-capitalistsJason CalacanisandSriram Krishnan, also a former Twitter product leader. Meanwhile, Mr. Musk fired off tweets about various business possibilities. Employees were given days to develop new products, and plans appeared to change.This rapid-fire approach to product development was a radical departure from the development style at the old Twitter, where any new products were closely studied to gauge how they would affect usage rates and other potential impacts.Mr. Musk’s plan includes changing the platform byexpanding user verificationand improvingthe subscription offeringsto become less reliant on advertisers. He also discussed adding ways for content creators to make money on the platform so that they could earn a living on it, the way creators do on TikTok and YouTube.Mr. Musk at one point tweeted a poll asking whether he should bring back Vine, the short-video service that Twitter shut down in 2016. The company has discussed relaunching a version of Vine by the end of the year, according to one employee.Soon after the email to all employees went out Thursday, a staffer posted to the company’s internal Slack channel wishing everyone well and concluding with the “saluting face” emoji, according to employees.That kicked off an hourslong series of such salutes from hundreds of Twitter employees. It eventually spilled into public tweets, with the saluting emoji becoming a symbol of the end of the pre-Musk version of the company. “There was this weird sense of celebration,” one employee said. “We were all together marking the ending of this thing.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962635369,"gmtCreate":1669768024252,"gmtModify":1676538238388,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9962635369","repostId":"1130792345","repostType":4,"repost":{"id":"1130792345","pubTimestamp":1669765658,"share":"https://ttm.financial/m/news/1130792345?lang=&edition=fundamental","pubTime":"2022-11-30 07:47","market":"us","language":"en","title":"\"It Was Not Sustainable Or Real\": Tech Layoffs Approach Great Recession Levels","url":"https://stock-news.laohu8.com/highlight/detail?id=1130792345","media":"MarketWatch","summary":"The number of tech layoffs this year is nearing annual levels seen during the Great Recession, but is far from dot-com-bust territory.As technology companies deal with declining stock prices, inflatio","content":"<html><head></head><body><p>The number of tech layoffs this year is nearing annual levels seen during the Great Recession, but is far from dot-com-bust territory.</p><p>As technology companies deal with declining stock prices, inflation, rising interest rates and a possible recession, they have announced more than 60,000 job cuts this year, with indications — such as from Amazon.com Inc. Chief Executive Andy Jassy; HP Inc. announcing cuts over the next three years; and a report that Google is considering thousands of layoffs — that there will be more to come.</p><p>By comparison, about 65,000 tech jobs were lost each year in 2008 and 2009 during the recession, according to Challenger, Gray &amp; Christmas. Whether all the slashing will approach levels only previously seen during the dot-com bust, when almost 300,000 tech jobs were lost over two years, remains to be seen.</p><p>Some longtime Silicon Valley observers and experts say this downturn is not like the dot-com bust of 2001 and 2002, because many of the companies that failed back then weren’t “real” companies. And though their estimates of how long this bust will last vary, they mostly agree that the impact will be significant and affect workers and others who power the industry.</p><p>This time around, the companies making cuts may have grown too quickly or added too many employees during the pandemic and may need to reset or go back to normal, experts say. But they offer real goods or services, and they have revenue coming in.</p><p><b>For more: Here are the tech companies that have announced layoffs</b></p><p>“The dot-com bust was primarily, if not exclusively, companies that had no customers and no revenues,” said Stephen Levy, director and senior economist of the Center for Continuing Study of the California Economy. “The companies that are laying off, like Amazon, or freezing hiring, like Google or Apple have millions and millions of customers and are profitable,” he added.</p><p>This tech downturn is not a surprise to others like Levy, who have lived through previous ones. Their forecasts range from cautious optimism to calamitous.</p><p>“Silicon Valley has cycles,” said Russell Hancock, CEO of Joint Venture Silicon Valley. “We go up, we go down. It happens with regularity about every 10 years.” Hancock, who said he thought it was too early to say “the sky is falling,” added that he thought the beginning of the pandemic would spark the downturn. Instead, he said, “the pandemic turned out to be bonanza for tech… but it just turned out to be a spike and didn’t lead us to a new plateau. Now, demand is tapering.”</p><p>But Tom Siebel, a billionaire serial entrepreneur whose latest title is CEO of C3.ai is more pessimistic. “This is just starting,” he told MarketWatch. “Before this is over, everyone will feel the sting, large companies and small. It will be hard, but the industry will be healthy once we get through it.”</p><p>“All this weird, entitled behavior is coming to an end. No more people working in pajamas at home, being paid in bitcoin. This era will be a zinger, unfortunately,” he said. The downturn, he cautioned, will last at least two years and “look like something out of the 1970s. This recession took 15 years to happen. Companies were literally printing billions of dollars a month. It was not sustainable or real.”</p><p>To further put the numbers in perspective:</p><ul><li>Today’s tech job cuts are also approaching the number of jobs lost in the industry when the COVID-19 pandemic upended everything. In 2020, 83,000 people in the tech industry lost their jobs, according to Challenger, Gray &amp; Christmas.</li><li>The 60,000-plus jobs lost this year is getting close to the equivalent of the number of U.S. tech jobs added by Silicon Valley’s biggest tech companies from 2020 to 2021, which was 68,558, according to an analysis of hiring data by the Silicon Valley Institute for Regional Studies.</li></ul><p>Some companies making job cuts have their own reasons and circumstances — but most of them have been affected by declining stock prices this year. The dramatic slashing of the staff of Twitter has everything to do with Elon Musk taking the helm, but before he bought the company its stock had traded as much as 73% lower than the $54.20 he paid per share. The slowdown in real estate activity is affecting related, fairly young companies. Yet other companies, such as ride-hailing giant Lyft Inc. have been under pressure to prove they can turn a profit.</p><p>“These are scary times: A lot of tech companies have not been through a downturn,” Scott Russell, an SAP executive board member, told MarketWatch. “The mantra for nearly all of them the next few years is risk mitigation, controlled costs and operational efficiency,” he added. Some companies already started doing those things at the beginning of the pandemic. Others, such as Facebook parent Meta Platforms Inc. almost doubled their size in the past couple of years, and CEO Mark Zuckerberg blamed himself in his email to staff about the layoffs.</p><p>Tech employees of all stripes — those with different levels of experience, or those with H-1B visas and needing employer sponsorship to stay in this country — are losing their jobs, according to layoff lists seen by MarketWatch.</p><p>Some will fare better than others: Data from ZipRecruiter shows that there remains a healthy number of job openings for more senior positions: for example, for engineer 2 instead of engineer 1.</p><p>And some industries within tech are less affected than others, at least so far. A recruiter for semiconductor companies told MarketWatch that she sees few signs of a slowdown. Even Intel Corp. which has announced it wants to trim costs, continues to hire except for in certain locations, she said.</p><p>Venture capitalists are urging caution: “If you’re a growth-stage investor, it’s probably not the best time to be in that stage of investing, partly because companies were overcapitalized and with valuations that were unsustainable,” said Barmak Mehta, founding partner atBallistic Ventures in Silicon Valley.</p><p>All of this is going to affect not just highly paid tech employees but also the other workers who are part of tech’s giant ecosystem.</p><p>A laid-off art-services provider for tech companies told MarketWatch he has become disillusioned with the industry. “I’ve now experienced a couple of times where companies do a hard turn, a pivot,” he said. “Tech feels like there’s this cult, like ‘we’re innovators and we’re gonna decide this is the next big thing,&#39;” no matter how it affects a company and its employees, he said.</p><p>A former Twitter employee who was laid off in early November after Musk took over the company and immediately slashed its workforce in half has already fielded calls from potential employers, he told MarketWatch. That’s because he has plenty of technical and management experience.</p><p>Does he think the downturn will help unions make inroads into tech? “I wish,” he said. “Getting these kinds of workers to organize is even more difficult than in other industries, and it’s not easy anywhere.”</p><p>But Maria Noel Fernandez, campaign director for Silicon Valley Rising, an alliance of labor groups and community leaders, is hopeful that this time presents an “opportunity to build a worker movement within the tech industry and the Bay Area.”</p><p>As for lower-wage workers, they were among the first to feel the pain. The biggest cuts in janitors and bus drivers in the San Francisco Bay Area since the pandemic happened at Meta right before the mass tech-worker layoffs.</p><p>Luis Fuentes, division director for SEIU-United Service Workers West, said unionized service workers in Silicon Valley have made “substantial gains,” but that a majority of them make less than $50,000 a year.  He’s worried about a possible erosion in the progress they have made if the tech industry cuts go deeper or are prolonged.</p><p>“For somebody being laid off from Meta, it might mean they delay a vacation — they have more wiggle room,” Fuentes said. “For service workers, it’s going to come down to whether they can pay rent or put food on the table.”</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"It Was Not Sustainable Or Real\": Tech Layoffs Approach Great Recession Levels </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\"It Was Not Sustainable Or Real\": Tech Layoffs Approach Great Recession Levels \n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-30 07:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/it-was-not-sustainable-or-real-tech-layoffs-approach-great-recession-levels-11669741730?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The number of tech layoffs this year is nearing annual levels seen during the Great Recession, but is far from dot-com-bust territory.As technology companies deal with declining stock prices, ...</p>\n\n<a href=\"https://www.marketwatch.com/story/it-was-not-sustainable-or-real-tech-layoffs-approach-great-recession-levels-11669741730?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","AMZN":"亚马逊"},"source_url":"https://www.marketwatch.com/story/it-was-not-sustainable-or-real-tech-layoffs-approach-great-recession-levels-11669741730?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130792345","content_text":"The number of tech layoffs this year is nearing annual levels seen during the Great Recession, but is far from dot-com-bust territory.As technology companies deal with declining stock prices, inflation, rising interest rates and a possible recession, they have announced more than 60,000 job cuts this year, with indications — such as from Amazon.com Inc. Chief Executive Andy Jassy; HP Inc. announcing cuts over the next three years; and a report that Google is considering thousands of layoffs — that there will be more to come.By comparison, about 65,000 tech jobs were lost each year in 2008 and 2009 during the recession, according to Challenger, Gray & Christmas. Whether all the slashing will approach levels only previously seen during the dot-com bust, when almost 300,000 tech jobs were lost over two years, remains to be seen.Some longtime Silicon Valley observers and experts say this downturn is not like the dot-com bust of 2001 and 2002, because many of the companies that failed back then weren’t “real” companies. And though their estimates of how long this bust will last vary, they mostly agree that the impact will be significant and affect workers and others who power the industry.This time around, the companies making cuts may have grown too quickly or added too many employees during the pandemic and may need to reset or go back to normal, experts say. But they offer real goods or services, and they have revenue coming in.For more: Here are the tech companies that have announced layoffs“The dot-com bust was primarily, if not exclusively, companies that had no customers and no revenues,” said Stephen Levy, director and senior economist of the Center for Continuing Study of the California Economy. “The companies that are laying off, like Amazon, or freezing hiring, like Google or Apple have millions and millions of customers and are profitable,” he added.This tech downturn is not a surprise to others like Levy, who have lived through previous ones. Their forecasts range from cautious optimism to calamitous.“Silicon Valley has cycles,” said Russell Hancock, CEO of Joint Venture Silicon Valley. “We go up, we go down. It happens with regularity about every 10 years.” Hancock, who said he thought it was too early to say “the sky is falling,” added that he thought the beginning of the pandemic would spark the downturn. Instead, he said, “the pandemic turned out to be bonanza for tech… but it just turned out to be a spike and didn’t lead us to a new plateau. Now, demand is tapering.”But Tom Siebel, a billionaire serial entrepreneur whose latest title is CEO of C3.ai is more pessimistic. “This is just starting,” he told MarketWatch. “Before this is over, everyone will feel the sting, large companies and small. It will be hard, but the industry will be healthy once we get through it.”“All this weird, entitled behavior is coming to an end. No more people working in pajamas at home, being paid in bitcoin. This era will be a zinger, unfortunately,” he said. The downturn, he cautioned, will last at least two years and “look like something out of the 1970s. This recession took 15 years to happen. Companies were literally printing billions of dollars a month. It was not sustainable or real.”To further put the numbers in perspective:Today’s tech job cuts are also approaching the number of jobs lost in the industry when the COVID-19 pandemic upended everything. In 2020, 83,000 people in the tech industry lost their jobs, according to Challenger, Gray & Christmas.The 60,000-plus jobs lost this year is getting close to the equivalent of the number of U.S. tech jobs added by Silicon Valley’s biggest tech companies from 2020 to 2021, which was 68,558, according to an analysis of hiring data by the Silicon Valley Institute for Regional Studies.Some companies making job cuts have their own reasons and circumstances — but most of them have been affected by declining stock prices this year. The dramatic slashing of the staff of Twitter has everything to do with Elon Musk taking the helm, but before he bought the company its stock had traded as much as 73% lower than the $54.20 he paid per share. The slowdown in real estate activity is affecting related, fairly young companies. Yet other companies, such as ride-hailing giant Lyft Inc. have been under pressure to prove they can turn a profit.“These are scary times: A lot of tech companies have not been through a downturn,” Scott Russell, an SAP executive board member, told MarketWatch. “The mantra for nearly all of them the next few years is risk mitigation, controlled costs and operational efficiency,” he added. Some companies already started doing those things at the beginning of the pandemic. Others, such as Facebook parent Meta Platforms Inc. almost doubled their size in the past couple of years, and CEO Mark Zuckerberg blamed himself in his email to staff about the layoffs.Tech employees of all stripes — those with different levels of experience, or those with H-1B visas and needing employer sponsorship to stay in this country — are losing their jobs, according to layoff lists seen by MarketWatch.Some will fare better than others: Data from ZipRecruiter shows that there remains a healthy number of job openings for more senior positions: for example, for engineer 2 instead of engineer 1.And some industries within tech are less affected than others, at least so far. A recruiter for semiconductor companies told MarketWatch that she sees few signs of a slowdown. Even Intel Corp. which has announced it wants to trim costs, continues to hire except for in certain locations, she said.Venture capitalists are urging caution: “If you’re a growth-stage investor, it’s probably not the best time to be in that stage of investing, partly because companies were overcapitalized and with valuations that were unsustainable,” said Barmak Mehta, founding partner atBallistic Ventures in Silicon Valley.All of this is going to affect not just highly paid tech employees but also the other workers who are part of tech’s giant ecosystem.A laid-off art-services provider for tech companies told MarketWatch he has become disillusioned with the industry. “I’ve now experienced a couple of times where companies do a hard turn, a pivot,” he said. “Tech feels like there’s this cult, like ‘we’re innovators and we’re gonna decide this is the next big thing,'” no matter how it affects a company and its employees, he said.A former Twitter employee who was laid off in early November after Musk took over the company and immediately slashed its workforce in half has already fielded calls from potential employers, he told MarketWatch. That’s because he has plenty of technical and management experience.Does he think the downturn will help unions make inroads into tech? “I wish,” he said. “Getting these kinds of workers to organize is even more difficult than in other industries, and it’s not easy anywhere.”But Maria Noel Fernandez, campaign director for Silicon Valley Rising, an alliance of labor groups and community leaders, is hopeful that this time presents an “opportunity to build a worker movement within the tech industry and the Bay Area.”As for lower-wage workers, they were among the first to feel the pain. The biggest cuts in janitors and bus drivers in the San Francisco Bay Area since the pandemic happened at Meta right before the mass tech-worker layoffs.Luis Fuentes, division director for SEIU-United Service Workers West, said unionized service workers in Silicon Valley have made “substantial gains,” but that a majority of them make less than $50,000 a year.  He’s worried about a possible erosion in the progress they have made if the tech industry cuts go deeper or are prolonged.“For somebody being laid off from Meta, it might mean they delay a vacation — they have more wiggle room,” Fuentes said. “For service workers, it’s going to come down to whether they can pay rent or put food on the table.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":23,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966563379,"gmtCreate":1669595115292,"gmtModify":1676538210257,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Lone&nbsp;","listText":"Lone&nbsp;","text":"Lone","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9966563379","repostId":"1198835584","repostType":4,"repost":{"id":"1198835584","pubTimestamp":1669589744,"share":"https://ttm.financial/m/news/1198835584?lang=&edition=fundamental","pubTime":"2022-11-28 06:55","market":"us","language":"en","title":"Jobs, Housing Data, GDP Bring Investors Into December: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1198835584","media":"Yahoo Finance","summary":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the wee","content":"<html><head></head><body><p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.</p><p><img src=\"https://static.tigerbbs.com/07e084694ac7c797625be53771937802\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.</p><p>The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.</p><p>Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.</p><p>Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.</p><p>“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”</p><p>On the inflation front, investors will be watching the personal consumption expenditures&#39; (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.</p><p>According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.</p><p>For traders, this year&#39;s action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed&#39;s benchmark interest rate range awaits investors in mid-December.</p><p>As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fa8de8c2a5adf749e95d135caffd002\" tg-width=\"705\" tg-height=\"477\" referrerpolicy=\"no-referrer\"/><span>Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.</span></p><p>Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.</p><p>“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed&#39;s December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”</p><p>While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.</p><p>Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”</p><p>“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock&#39;s team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”</p><p>Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are &#34;meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.</p><p>&#34;We think that is, of course, a risk for equities,&#34; Ackman said. &#34;And part of our thesis is we think inflation is going to be structurally higher.&#34;</p><p>Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.</p><p>Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).</p><p>Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.</p><p>The S&amp;P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.</p><h2>Economic Calendar</h2><p><b>Monday:</b> <b><i>Dallas Fed Manufacturing Activity</i></b>, November (-23.0 expected, -19.4 during prior month)</p><p><b>Tuesday:</b> <b><i>FHFA Housing Pricing Index</i></b>, September (-1.3% expected, -0.7% during prior month); <b><i>House Price Purchasing Index</i></b>, Q3 (4.0% during prior quarter); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, month-over-month, September (-1.15% expected, -1.32% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller 20-City Composite</i></b>, year-over-year, September (10.65% expected, 13.08% during prior month); <b><i>S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index</i></b>(12.99% during prior month); <b><i>Conference Board Consumer Confidence</i></b>, November (100.0 expected, 102.5 during prior month)</p><p><b>Wednesday:</b> <b><i>MBA Mortgage Applications</i></b>, week ended Nov. 25 (2.2% during prior week); <b><i>ADP Employment Change</i></b>, November (195,000 expected, 239,000 during prior month); <b><i>GDP Annualized</i></b>, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);<b><i>Personal Consumption</i></b>, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); <b><i>GDP Price Index</i></b>, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); <b><i>Core PCE</i></b>, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); <b><i>Advance Goods Trade Balance</i></b>, September (-$90.2 billion expected, -$92.2 billion during prior month); <b><i>Wholesale Inventories</i></b>, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); <b><i>Retail Inventories</i></b>, month-over-month, October (0.4% during prior month);<b><i>MNI Chicago PMI,</i></b>November (47.0 expected, 45.2 during prior month); <b><i>PendingHome Sales</i></b>, month-over-month, October (-5.2% expected, -10.2% during prior month); <b><i>JOLTS Job Openings</i></b>, October (10.325 million expected, 10.717 million during prior month); <b><i>Federal Reserve Beige Book</i></b></p><p><b>Thursday:</b> <b><i>Challenger Job Cuts</i></b>, year-over-year, November (48.3% during prior month); <b><i>Personal Income</i></b>, October (0.4% expected, 0.4% during prior month); <b><i>Personal Spending</i></b>, October (0.6% expected, 0.8% during prior month); <b><i>PCE Deflator</i></b>, month-over-month, October (0.4% expected, 0.3% during prior month);<b><i>PCE Deflator</i></b>, year-over-year, October (6.0% expected, 6.2% during prior month); <b><i>PCE Core Deflator</i></b>, month-over-month, October (0.3% expected, 0.5% during prior month); <b><i>PCE Core Deflator</i></b>, year-over-year, October (5.0% expected, 5.1% during prior month); <b><i>Initial Jobless Claims</i></b>, week ended Nov. 26 (240,000 during prior week); <b><i>Continuing Claims,</i></b>week ended Nov. 19 (1.551 million during prior week); <b><i>S&amp;P Global U.S. Manufacturing PMI</i></b>, November final (49.8 expected, 50.2 during prior month); <b><i>Construction Spending</i></b>, month-over-month, October (-0.2% expected, -0.2% during prior month); <b><i>ISM Manufacturing</i></b>, November (49.8 expected, 50.2 during prior month); <b><i>ISM Prices Paid</i></b>, November (46.6 during prior month); <b><i>ISM New Orders</i></b>, September (49.2 during prior month); <b><i>ISM Employment</i></b>, November (50.0 during prior month); <b><i>WARDS Total Vehicle Sales</i></b>, November (14.90 million expected, 14.90 prior month)</p><p><b>Friday:</b><b><i>Change in Nonfarm Payrolls</i></b>, November (200,000 expected, 216,000 during prior month); <b><i>Unemployment Rate</i></b>, November (3.7% expected, 3.7% during prior month); <b><i>Average Hourly Earnings</i></b>, month-over-month, November (0.3% expected, 0.4% during prior month);<b><i>Average Hourly Earnings</i></b>, year-over-year, November (4.6% expected, 4.7% prior month); <b><i>Average Weekly Hours All Employees</i></b>, November (34.5 expected, 34.5 during prior month); <b><i>Labor Force Participation Rate</i></b>, November (62.3% expected, 62.3% during prior month); <b><i>Underemployment Rate</i></b>, November (60.8% prior month)</p><p>—</p><h2><b>Earnings Calendar</b></h2><p><img src=\"https://static.tigerbbs.com/a40d1324fad197369d0fd7fc5d75b1b5\" tg-width=\"2027\" tg-height=\"1426\" referrerpolicy=\"no-referrer\"/></p><p><b>Monday:</b> Arrowhead (ARWR), AZEK (AZEK)</p><p><b>Tuesday:</b> Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)</p><p><b>Wednesday:</b> Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria&#39;s Secret (VSCO)</p><p><b>Thursday:</b> Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)</p><p><b>Friday:</b> Cracker Barrel (CBRL), Genesco (GCO)</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>Jobs, Housing Data, GDP Bring Investors Into December: What to Know This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nJobs, Housing Data, GDP Bring Investors Into December: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 06:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.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://finance.yahoo.com/news/stock-market-lookahead-november-jobs-report-federal-reserve-182021843.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198835584","content_text":"Investors returning from the Thanksgiving holiday will face a deluge of economic releases in the week ahead as Wall Street heads into the final month of 2022 and braces for the Federal Reserve’s last interest rate hike of the year.The government’s monthly employment report, data on the housing market, a second look at GDP growth, PCE inflation, and a reading on consumer confidence are among the many highlights of a busy economic calendar in the coming days.The Labor Department’s latest employment report, set for release at 8:30 a.m. ET Friday morning, will highlight the schedule.Economists expect nonfarm payrolls rose by 200,000 last month, according to estimates from Bloomberg. If realized, the number would mark another downtrend in the labor market but reflect still-robust hiring on a historical basis.Strong labor market readings havestoked worries that Fed officials will stay the courseon aggressive rate hikes and overshoot on monetary tightening.“Recent monthly data from the advanced economies have tended to exceed analysts’ gloomy expectations, “ Capital Economics chief global economist Jennifer McKeown said in a recent note. “However, this resilience probably also reflects a lag before higher interest rates transmit to the economy and firms are forced to reduce employment.”On the inflation front, investors will be watching the personal consumption expenditures' (PCE) price index out Thursday to see whether the recent trend of easing inflation holds up. On a monthly basis, PCE is expected to show a 0.4% rise in October, up from 0.3% during the prior month, according to Bloomberg estimates. Over the prior year, PCE inflation is expected to have eased to a rate of 6% from 6.2% previously.According to Bank of America’sNovember fund manager survey, investors do not expect the Fed to pivot – or change course on rate hikes – until U.S. PCE inflation falls below 4%.For traders, this year's action has been all about what the Federal Reserve will do next, and fresh economic figures should offer clues about whether a 50- or 75-basis-point increase in the Fed's benchmark interest rate range awaits investors in mid-December.As of Sunday morning,markets were pricing ina roughly 75% chance the Federal Reserve will deliver a 50-basis-point rate hike following the conclusion of its next meeting on December 15, data from the CME Group showed.Federal Reserve Board Chairman Jerome Powell arrives to speak during a news conference in Washington, DC, on November 2, 2022.Areadout of minutes from the Fed’s November meetingalso indicated a “substantial majority” of officials believe it will soon be time to slow the current pace of increases. But a strong November jobs report and higher than expected PCE figure may dash deceleration hopes.“It’s premature in my mind to take anything off the table,” San Francisco Fed PresidentMary Daly said last weekwhen asked whether a 75-basis point rate hike is still possible. “I’m going into the [Fed's December 14-15] meeting with the full range of adjustments that we could make on the table and not taking off prematurely.”While investors are hopeful for a meaningful slowdown in inflation and a subsequent policy shift over the next year, some Wall Street strategists are raising doubts about the Federal Reserve’s ability to fulfill its goals of maximum employment, stable prices, and moderate long-term interest rates.Strategists at theBlackRock Investment Institute warned last weekglobal investors are in a “new macro regime where central banks are causing recessions rather than coming to the rescue.”“That is clear in the rate path of major central banks set to overtighten policy as they battle inflation,” BlackRock's team, led by Jean Boivin, said in weekly commentary. “We think they will eventually pause but not cut rates when confronted with the damage of sharp rate hikes – that could be the reality of recession or the appearance of financial cracks, as seen in the U.K.”Billionaire hedge funder Bill Ackman alsosaid in a recent call with investorsinterest rates are \"meaningfully below where they are going to go,” and the firm does not believe the Federal Reserve will be able to get inflation back to a consistent 2% level.\"We think that is, of course, a risk for equities,\" Ackman said. \"And part of our thesis is we think inflation is going to be structurally higher.\"Elsewhere in economic data this week, a second estimate of third-quarter GDP, Case-Shiller home price data, manufacturing activity gauges, and the Conference Board’s measure of consumer confidence are all on tap.Investors are ready to close the curtains on the latest earnings season, but some standout reports will still be released, including Hewlett Packard Enterprise (HPE), Salesforce (CRM), Dollar General (DG), and Kroger (KR).Last week, U.S. markets continued to build on recent moment in a week of trading shortened by the Thanksgiving holiday.The S&P 500ended modestly loweron Black Friday but finished the week in the green, up roughly 1.5%. The Dow Jones Industrial Average and Nasdaq Composite also advanced over the three and a half-day trading period, each rising 1.8% and 0.7%, respectively.Economic CalendarMonday: Dallas Fed Manufacturing Activity, November (-23.0 expected, -19.4 during prior month)Tuesday: FHFA Housing Pricing Index, September (-1.3% expected, -0.7% during prior month); House Price Purchasing Index, Q3 (4.0% during prior quarter); S&P CoreLogic Case-Shiller 20-City Composite, month-over-month, September (-1.15% expected, -1.32% during prior month); S&P CoreLogic Case-Shiller 20-City Composite, year-over-year, September (10.65% expected, 13.08% during prior month); S&P CoreLogic Case-Shiller U.S. National Home Price Index(12.99% during prior month); Conference Board Consumer Confidence, November (100.0 expected, 102.5 during prior month)Wednesday: MBA Mortgage Applications, week ended Nov. 25 (2.2% during prior week); ADP Employment Change, November (195,000 expected, 239,000 during prior month); GDP Annualized, quarter-over-quarter, Q3 second estimate (2.7% expected, 2.6% prior estimate);Personal Consumption, quarter-over-quarter, Q3 second estimate (1.5% expected, 1.4% prior estimate); GDP Price Index, quarter-over-quarter, Q3 second estimate (4.1% expected, 4.1% prior estimate); Core PCE, quarter-over-quarter, Q3 second estimate (4.5% prior estimate); Advance Goods Trade Balance, September (-$90.2 billion expected, -$92.2 billion during prior month); Wholesale Inventories, month-over-month, October preliminary (0.5% expected, 0.6% during prior month); Retail Inventories, month-over-month, October (0.4% during prior month);MNI Chicago PMI,November (47.0 expected, 45.2 during prior month); PendingHome Sales, month-over-month, October (-5.2% expected, -10.2% during prior month); JOLTS Job Openings, October (10.325 million expected, 10.717 million during prior month); Federal Reserve Beige BookThursday: Challenger Job Cuts, year-over-year, November (48.3% during prior month); Personal Income, October (0.4% expected, 0.4% during prior month); Personal Spending, October (0.6% expected, 0.8% during prior month); PCE Deflator, month-over-month, October (0.4% expected, 0.3% during prior month);PCE Deflator, year-over-year, October (6.0% expected, 6.2% during prior month); PCE Core Deflator, month-over-month, October (0.3% expected, 0.5% during prior month); PCE Core Deflator, year-over-year, October (5.0% expected, 5.1% during prior month); Initial Jobless Claims, week ended Nov. 26 (240,000 during prior week); Continuing Claims,week ended Nov. 19 (1.551 million during prior week); S&P Global U.S. Manufacturing PMI, November final (49.8 expected, 50.2 during prior month); Construction Spending, month-over-month, October (-0.2% expected, -0.2% during prior month); ISM Manufacturing, November (49.8 expected, 50.2 during prior month); ISM Prices Paid, November (46.6 during prior month); ISM New Orders, September (49.2 during prior month); ISM Employment, November (50.0 during prior month); WARDS Total Vehicle Sales, November (14.90 million expected, 14.90 prior month)Friday:Change in Nonfarm Payrolls, November (200,000 expected, 216,000 during prior month); Unemployment Rate, November (3.7% expected, 3.7% during prior month); Average Hourly Earnings, month-over-month, November (0.3% expected, 0.4% during prior month);Average Hourly Earnings, year-over-year, November (4.6% expected, 4.7% prior month); Average Weekly Hours All Employees, November (34.5 expected, 34.5 during prior month); Labor Force Participation Rate, November (62.3% expected, 62.3% during prior month); Underemployment Rate, November (60.8% prior month)—Earnings CalendarMonday: Arrowhead (ARWR), AZEK (AZEK)Tuesday: Baozun (BZUN), Bilibili (BILI), Compass Minerals (CMP), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Hibbett (HIBB), Intuit (INTU), NetApp (NTAP), Workday (WDAY)Wednesday: Donaldson (DCI), Five Below (FIVE), Frontline (FRO), Hormel Foods (HRL), La-Z-Boy (LZB), Nutanix (NTNX), Okta (OKTA), Petco Health and Wellness (WOOF), Pure Storage (PSTG), PVH (PVH), Royal Bank of Canada (RY), Salesforce (CRM), Snowflake (SNOW), Splunk (SPLK), Synopsys (SNPS), Titan Machinery (TITN), Victoria's Secret (VSCO)Thursday: Ambarella (AMBA), American Outdoor Brands (AOUT), Big Lots (BIG), ChargePoint (CHPT), Designer Brands (DBI), Dollar General (DG), G-III Apparel (GIII), Kroger (KR), Li Auto (LI), Manchester United (MANU), Marvell Technology (MRVL), Patterson Companies (PDCO), Toronto-Dominion Bank (TD), Ulta Beauty (ULTA), Veeva Systems (VEEV), Weber (WEBR), Zscaler (ZS)Friday: Cracker Barrel (CBRL), Genesco (GCO)","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3569374298664989","authorId":"3569374298664989","name":"stardice","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"3569374298664989","authorIdStr":"3569374298664989"},"content":"Liked and commented","text":"Liked and commented","html":"Liked and commented"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983700539,"gmtCreate":1666314225322,"gmtModify":1676537739020,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Likr","listText":"Likr","text":"Likr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9983700539","repostId":"1127402451","repostType":4,"repost":{"id":"1127402451","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":1666311905,"share":"https://ttm.financial/m/news/1127402451?lang=&edition=fundamental","pubTime":"2022-10-21 08:25","market":"us","language":"en","title":"Fed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402451","media":"Reuters","summary":"(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sh","content":"<html><head></head><body><p>(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.</p><p>The investment bank&#39;s analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That&#39;s because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank&#39;s primary tool for influencing the direction of the economy.</p><p>So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. &#34;I don&#39;t know what the final end point is of our balance sheet,&#34; Minneapolis Fed President Neel Kashkari said on Wednesday, but &#34;we have a ways to go.&#34;</p><p>That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.</p><p>Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.</p><p>The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.</p><p>Withdrawing stimulus has also meant shrinking the size of the Fed&#39;s balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.</p><p>The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means &#34;the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.&#34;</p><p>The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.</p><p>&#34;Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches &#39;ample&#39; much sooner than it expects,&#34; hitting that mark in the first half of 2023, the report said.</p><p>The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.</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>Fed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says</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\">\nFed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says\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\">2022-10-21 08:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.</p><p>The investment bank&#39;s analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That&#39;s because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank&#39;s primary tool for influencing the direction of the economy.</p><p>So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. &#34;I don&#39;t know what the final end point is of our balance sheet,&#34; Minneapolis Fed President Neel Kashkari said on Wednesday, but &#34;we have a ways to go.&#34;</p><p>That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.</p><p>Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.</p><p>The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.</p><p>Withdrawing stimulus has also meant shrinking the size of the Fed&#39;s balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.</p><p>The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means &#34;the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.&#34;</p><p>The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.</p><p>&#34;Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches &#39;ample&#39; much sooner than it expects,&#34; hitting that mark in the first half of 2023, the report said.</p><p>The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.</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",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402451","content_text":"(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.The investment bank's analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That's because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank's primary tool for influencing the direction of the economy.So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. \"I don't know what the final end point is of our balance sheet,\" Minneapolis Fed President Neel Kashkari said on Wednesday, but \"we have a ways to go.\"That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.Withdrawing stimulus has also meant shrinking the size of the Fed's balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means \"the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.\"The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.\"Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches 'ample' much sooner than it expects,\" hitting that mark in the first half of 2023, the report said.The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045464684,"gmtCreate":1656643613648,"gmtModify":1676535870293,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045464684","repostId":"2248856462","repostType":4,"repost":{"id":"2248856462","pubTimestamp":1656630900,"share":"https://ttm.financial/m/news/2248856462?lang=&edition=fundamental","pubTime":"2022-07-01 07:15","market":"us","language":"en","title":"The S&P 500 Had Its Worst First Half Since 1970. What Comes Next","url":"https://stock-news.laohu8.com/highlight/detail?id=2248856462","media":"Barrons","summary":"The S&P 500 has posted its worst first half of a year since Richard Nixon’s presidency, and many inv","content":"<html><head></head><body><p>The S&amp;P 500 has posted its worst first half of a year since Richard Nixon’s presidency, and many investors worry it has yet to hit bottom.</p><p>In the first six months of 2022, the widely followed large-cap index has tumbled 20.6% amid expectations of high inflation and a hawkish Federal Reserve, whose rate-hike plans could push the U.S. economy into recession. The last time the S&amp;P 500 fell this much in the first half was in 1970, according to Dow Jones markets data.</p><p>Investor sentiment has tumbled along with stock prices, and many market analysts expect the S&amp;P 500 to slide some more.The 12 bear markets since World War II—not including the current one—lasted an average of 10 months from market peak to trough, with an average drop of 34%.If the current bear market were to follow this pattern, it wouldn’t hit bottom until October.</p><p>Even so, a rebound, when it comes, could be dramatic. Markets tend to perform the best when investors are the gloomiest.</p><p>With its 20.6% loss year to date, the S&amp;P 500 posted its fourth-worst first-half performance on record, only behind 1932, 1962, and 1970, when it lost 45.4%, 23.5%, and 21.0%, respectively.</p><p>Other corners of the stock market are suffering even more. The small-cap benchmark Russell 2000 indexis down 24% year to date, its worst first half since inception in 1984. That is a much larger drop than the previous records—the 14% fall in the first half of 2020 due to the pandemic shock and the 10% loss in the first half of 2008 amid the global financial crisis.</p><p>Meanwhile, the tech-heavy Nasdaq Composite has plunged 29.5% year to date, also the worst first half of a year on record since its inception in 1971. The sharp fall has outpaced the 25% drop in the first half of 2002 at the height of the dot-com bubble burst, and the 24% loss in the first half of 1973 after the U.S. stopped exchanging dollars for gold and saw a prolonged period of inflation.</p><p>Tech companies are experiencing a particularly steep dive, but there is hardly any corner of refuge in the stock market. The recession fear has pushed 10 out of 11 sectors into the red territory, led by consumer discretionary and communication services—things people often cut first when they need to tighten the belt. Consumer discretionary stocks in the S&amp;P 500 have fallen 33%, while communications services are down 30%.</p><p>Energy stocks were the only ones that posted gains in the first half on the back of soaring oil prices, but even that sector has lost its momentum since June. Although energy companies are still pocketing record profits today, traders are quite aware that a recession would drag down demand, curb oil prices, and cut into their earnings. The S&amp;P 500’s energy sector has tumbled 22% in the past three weeks, but still trades 28% higher than where it was at the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/c4e2b054b20b2cf34312e2f14d032869\" tg-width=\"996\" tg-height=\"647\" referrerpolicy=\"no-referrer\"/></p><p>Although the overall market has performed better in the past two weeks, many are worried that things could take a worse turn in the second half of the year.</p><p>As of last week, 59% of investors were bearish about where the market is heading in the next six months, only 18% were bullish, according to a weekly sentiment survey from the American Association of Individual Investors. The bearish reading was the sixth highest since the survey started in 1987. At the beginning of June, just 37% were bearish while 32% remained bullish.</p><p>The fear of a lower market is largely due to anticipations of weaker earnings in the coming months. According to Bank of America’s global fund manager survey in June, 72% of investors expect global profits to worsen over the next 12 months, up 6 percentage points from May and the highest level since September 2008. Investors are telling companies to “play it safe” and strengthen their balance sheets, rather than increase capital expenditure or deliver share buybacks.</p><p>“The bear market will not be over until recession arrives or the risk of one is extinguished,” wrote Morgan Stanley chief U.S. equity strategist Mike Wilson last week. A full-fledged recession could push the S&amp;P 500 to bottom near 2900, or more than 23% below its current level, according to Wilson.</p><p>Other Wall Street giants have similar expectations. Goldman Sachs strategists said stocks are only pricing in a modest recession, leaving them open to a further worsening in expectations. Bank of America said the S&amp;P 500 could bottom as low as 3000 in a worst-case scenario.</p><p>If there is any silver lining to these dim expectations, it’s worth noting that investor sentiment is often a contrarian indicator. Historically, unusually bearish sentiment—a sign of fearand cautious behaviors—tends to be followed by above-average market returns, while overly bullish sentiment—a sign of greed and risk taking—is often followed by below-average returns.</p><p>Indeed, during previous years when the S&amp;P 500 was down at least 15% at the midway point of the year, the index has finished higher in the final six months every single time, with an average return of nearly 24%. “Although most investors probably don’t feel like that is possible in 2022, just remember history says a surprise bullish move is possible,” wrote LPL Financial chief market strategist Ryan Detrick last week.</p><p>Citianalysts, for one, believe the second half of the year could bring “low double digit upside” gains in the S&amp;P 500. The market has mostly priced in the Fed’s planned rate hikes and their effects on stock valuations, wrote the analysts in a research note last week. Any signs of economic slowdown could help alleviate concerns about inflation and more hawkish Fed moves.</p><p>Meanwhile, they believe that companies should have enough pricing power to pass the rising costs to consumers, which means margins might hold up better than expected. “Better-than-feared earnings and signs of peaking rates, combined with bearish investor positioning, support a positive [second half] risk/reward set up,” they wrote.</p><p>Although Citi has lowered its year-end target for the S&amp;P 500 to 4200 from 4700, it’s still much higher than many of its peers. The index finished at 3785.38 points after Thursday’s close.</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 S&P 500 Had Its Worst First Half Since 1970. What Comes Next</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 S&P 500 Had Its Worst First Half Since 1970. What Comes Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-01 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-sp500-1970-outlook-51656620380?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 has posted its worst first half of a year since Richard Nixon’s presidency, and many investors worry it has yet to hit bottom.In the first six months of 2022, the widely followed large-cap...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-sp500-1970-outlook-51656620380?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","QQQ":"纳指100ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/stock-market-sp500-1970-outlook-51656620380?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2248856462","content_text":"The S&P 500 has posted its worst first half of a year since Richard Nixon’s presidency, and many investors worry it has yet to hit bottom.In the first six months of 2022, the widely followed large-cap index has tumbled 20.6% amid expectations of high inflation and a hawkish Federal Reserve, whose rate-hike plans could push the U.S. economy into recession. The last time the S&P 500 fell this much in the first half was in 1970, according to Dow Jones markets data.Investor sentiment has tumbled along with stock prices, and many market analysts expect the S&P 500 to slide some more.The 12 bear markets since World War II—not including the current one—lasted an average of 10 months from market peak to trough, with an average drop of 34%.If the current bear market were to follow this pattern, it wouldn’t hit bottom until October.Even so, a rebound, when it comes, could be dramatic. Markets tend to perform the best when investors are the gloomiest.With its 20.6% loss year to date, the S&P 500 posted its fourth-worst first-half performance on record, only behind 1932, 1962, and 1970, when it lost 45.4%, 23.5%, and 21.0%, respectively.Other corners of the stock market are suffering even more. The small-cap benchmark Russell 2000 indexis down 24% year to date, its worst first half since inception in 1984. That is a much larger drop than the previous records—the 14% fall in the first half of 2020 due to the pandemic shock and the 10% loss in the first half of 2008 amid the global financial crisis.Meanwhile, the tech-heavy Nasdaq Composite has plunged 29.5% year to date, also the worst first half of a year on record since its inception in 1971. The sharp fall has outpaced the 25% drop in the first half of 2002 at the height of the dot-com bubble burst, and the 24% loss in the first half of 1973 after the U.S. stopped exchanging dollars for gold and saw a prolonged period of inflation.Tech companies are experiencing a particularly steep dive, but there is hardly any corner of refuge in the stock market. The recession fear has pushed 10 out of 11 sectors into the red territory, led by consumer discretionary and communication services—things people often cut first when they need to tighten the belt. Consumer discretionary stocks in the S&P 500 have fallen 33%, while communications services are down 30%.Energy stocks were the only ones that posted gains in the first half on the back of soaring oil prices, but even that sector has lost its momentum since June. Although energy companies are still pocketing record profits today, traders are quite aware that a recession would drag down demand, curb oil prices, and cut into their earnings. The S&P 500’s energy sector has tumbled 22% in the past three weeks, but still trades 28% higher than where it was at the beginning of the year.Although the overall market has performed better in the past two weeks, many are worried that things could take a worse turn in the second half of the year.As of last week, 59% of investors were bearish about where the market is heading in the next six months, only 18% were bullish, according to a weekly sentiment survey from the American Association of Individual Investors. The bearish reading was the sixth highest since the survey started in 1987. At the beginning of June, just 37% were bearish while 32% remained bullish.The fear of a lower market is largely due to anticipations of weaker earnings in the coming months. According to Bank of America’s global fund manager survey in June, 72% of investors expect global profits to worsen over the next 12 months, up 6 percentage points from May and the highest level since September 2008. Investors are telling companies to “play it safe” and strengthen their balance sheets, rather than increase capital expenditure or deliver share buybacks.“The bear market will not be over until recession arrives or the risk of one is extinguished,” wrote Morgan Stanley chief U.S. equity strategist Mike Wilson last week. A full-fledged recession could push the S&P 500 to bottom near 2900, or more than 23% below its current level, according to Wilson.Other Wall Street giants have similar expectations. Goldman Sachs strategists said stocks are only pricing in a modest recession, leaving them open to a further worsening in expectations. Bank of America said the S&P 500 could bottom as low as 3000 in a worst-case scenario.If there is any silver lining to these dim expectations, it’s worth noting that investor sentiment is often a contrarian indicator. Historically, unusually bearish sentiment—a sign of fearand cautious behaviors—tends to be followed by above-average market returns, while overly bullish sentiment—a sign of greed and risk taking—is often followed by below-average returns.Indeed, during previous years when the S&P 500 was down at least 15% at the midway point of the year, the index has finished higher in the final six months every single time, with an average return of nearly 24%. “Although most investors probably don’t feel like that is possible in 2022, just remember history says a surprise bullish move is possible,” wrote LPL Financial chief market strategist Ryan Detrick last week.Citianalysts, for one, believe the second half of the year could bring “low double digit upside” gains in the S&P 500. The market has mostly priced in the Fed’s planned rate hikes and their effects on stock valuations, wrote the analysts in a research note last week. Any signs of economic slowdown could help alleviate concerns about inflation and more hawkish Fed moves.Meanwhile, they believe that companies should have enough pricing power to pass the rising costs to consumers, which means margins might hold up better than expected. “Better-than-feared earnings and signs of peaking rates, combined with bearish investor positioning, support a positive [second half] risk/reward set up,” they wrote.Although Citi has lowered its year-end target for the S&P 500 to 4200 from 4700, it’s still much higher than many of its peers. The index finished at 3785.38 points after Thursday’s close.","news_type":1},"isVote":1,"tweetType":1,"viewCount":123,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9038463674,"gmtCreate":1646889714755,"gmtModify":1676534174296,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9038463674","repostId":"2218289336","repostType":4,"repost":{"id":"2218289336","pubTimestamp":1646870452,"share":"https://ttm.financial/m/news/2218289336?lang=&edition=fundamental","pubTime":"2022-03-10 08:00","market":"us","language":"en","title":"2 Ultra-High-Yield Dividend Stocks With Up to 72% Upside, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2218289336","media":"Motley Fool","summary":"According to select analysts, these income stocks, with yields of 8.7% and 8.9%, could soar.","content":"<html><head></head><body><p>For more than two months, Wall Street and investors have been reminded that crashes and corrections are a normal part of the investing cycle. Although big drops in the market can be unnerving at times, they&#39;re the price of admission to <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the world&#39;s top long-term wealth creators.</p><p>But where there&#39;s volatility, there&#39;s almost always opportunity. With every notable stock market decline throughout history eventually getting erased by a bull market rally, this ongoing correction represents just another in a long line of opportunities for patient investors to put their money to work and grow their wealth.</p><p>The big question is: Which stocks to buy?</p><h2>Buying dividend stocks is a winning formula for patient investors</h2><p>While there are a lot of investing strategies that work over the long run, few have outperformed more resoundingly than buying dividend stocks.</p><p>Nine years ago, J.P. Morgan Asset Management, a division of money-center bank <b>JPMorgan Chase</b>, released a report that examined the annualized performance of dividend-paying stocks to non-dividend payers over a 40-year period (1972-2012). The report showed that dividend stocks absolutely mopped the floor with publicly traded companies that didn&#39;t pay a dividend. Specifically, companies that initiated and grew their payout delivered a 9.5% annualized return, which was many multiples higher than the 1.6% annualized return from the public companies not paying a dividend.</p><p>This outperformance isn&#39;t unexpected. Since income stocks are almost always profitable and time-tested, and have relatively transparent long-term growth outlooks, investors should expect these steady companies to increase in value over time.</p><p>Perhaps the biggest challenge for income investors is balancing yield and risk. Ideally, you&#39;d want the highest yield possible with the least amount of risk. But data has shown that yield and risk tend to go hand in hand once you reach high-yield status (4% and above). Because yield is simply a function of payout relative to share price, a falling share price that&#39;s indicative of a struggling or failing operating model can lure income seekers into a value trap. What I&#39;m ultimately trying to say is that high-yield and ultra-high-yield stocks (those I&#39;m arbitrarily defining as having yields of 7% or higher) require extra vetting.</p><p>The good news for investors is that there are high-quality, ultra-high-yield dividend stocks they can buy and count on. In fact, select analysts on Wall Street see abundant upside for two popular ultra-high-yield income stocks. If these one-year price targets prove accurate, this duo could offer as much as 72% upside.</p><h2>AT&amp;T: Implied upside of 72% (8.71% yield)</h2><p>Among ultra-high-yielding stocks, you&#39;d struggle to find a company with more upside potential than telecom stock <b>AT&amp;T</b> (NYSE:T) -- at least according to one analyst.</p><p>In January, Ivan Feinseth of Tigress Financial increased his firm&#39;s 12-month price target on AT&amp;T to $41 from $36. If Feinseth&#39;s price target were to become reality, AT&amp;T&#39;s shares would increase by a cool 72%. Feinseth&#39;s note accompanying his firms&#39; price target increase points to AT&amp;T&#39;s subscriber growth and upcoming spinoff of WarnerMedia (which I&#39;ll touch on in a moment) as reasons shares can head substantially higher.</p><p>For AT&amp;T investors (of which I&#39;m one), there are two key catalysts on the immediate horizon.</p><p>First, there&#39;s the continued upgrade of wireless infrastructure to support 5G speeds. It&#39;s been roughly a decade since download speeds were meaningfully improved. The rollout of 5G should entice consumers and businesses to replace their wireless devices for years to come. Since AT&amp;T&#39;s wireless segment generates its juiciest margins from data consumption, faster download speeds with 5G represent a healthy dose of organic growth for this stalwart telecom company.</p><p>The second catalyst is the aforementioned spinoff of content arm WarnerMedia, which will then be merged with <b>Discovery</b> (NASDAQ:DISCA)(NASDAQ:DISCK) to create a new media entity, WarnerMedia-Discovery. Current AT&amp;T investors will have a stake in this new media company.</p><p>When merged, WarnerMedia-Discovery will offer a larger content library and should be able to reduce its annual expenses by more than $3 billion. Pro forma subscriber figures suggest the new company will have in the neighborhood of 94 million streaming customers.</p><p>For what remains of AT&amp;T following the spinoff, the focus will turn to debt reduction. AT&amp;T plans to slightly more than halve its dividend so it&#39;ll have even more cash to pay down its debt. Yet even with this upcoming dividend cut, AT&amp;T will still sport a hearty yield of around 4.3%.</p><p>Betting on a 72% increase in its share price in 12 months seems a bit optimistic. However, unlocking value via the WarnerMedia spinoff is a smart move and suggests AT&amp;T could move much higher over time.</p><h2>Sabra Health Care REIT: Implied upside of 34% (8.93% yield)</h2><p>A second ultra-high-yield dividend stock with substantial upside, according to one Wall Street analyst, is <b>Sabra Health Care REIT</b> (NASDAQ:SBRA).</p><p>Sabra, which is a real estate investment trust (REIT) that owns more than 400 healthcare facilities tied to skilled nursing and senior housing, is expected to rally to $18 a share over the next 12 months, based on the price target offered by Stifel analyst Stephen Manaker. Manaker&#39;s optimism is based on the expectation of healthy funds from operation growth in 2022 despite the challenges presented by the COVID-19 pandemic. If Manaker is right, Sabra&#39;s shares could jump 34%, which would be on top of its nearly 9% yield.</p><p>As you might imagine, Sabra Health Care was hit hard during the early stages of the pandemic. Since COVID-19 is particularly troublesome for the elderly, occupancy rates at skilled nursing and senior housing facilities fell. This put into question whether Sabra would receive rent from its tenants on schedule.</p><p>But there&#39;s good news. According to the company, 99.6% of all expected rents have been collected since the pandemic began two years ago. What&#39;s more, senior occupancy rates in the skilled nursing and senior housing facilities it owns troughed over a year ago and have been rebounding ever since.</p><p>To add to the positives, the company recently amended its master lease agreement with Avamere, an operator of 27 facilities leased from Sabra. Avamere is the one key operator that had previously struggled to meet its rent payments. This amended master lease agreement gives Avamere some breathing room as it recovers from the worst of the pandemic, and it allows Sabra to potentially net more in future rent if Avamere&#39;s recovery really gains steam. In other words, a big gray cloud of uncertainty has been removed.</p><p>Although the pandemic isn&#39;t over, investors can begin looking into the future and marveling at Sabra&#39;s prime position in the healthcare space. As the boomer population ages, it&#39;ll be one of a handful of companies in ideal position to benefit.</p><p>With the company putting $419.4 million to work in the form of new investments in 2021, and netting a 7.6% weighted-average yield on those investments, it&#39;s a good bet to deliver steady returns for patient shareholders.</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>2 Ultra-High-Yield Dividend Stocks With Up to 72% Upside, According to Wall Street</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Ultra-High-Yield Dividend Stocks With Up to 72% Upside, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-10 08:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/03/09/2-ultra-high-yield-dividend-stocks-with-72-upside/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For more than two months, Wall Street and investors have been reminded that crashes and corrections are a normal part of the investing cycle. Although big drops in the market can be unnerving at times...</p>\n\n<a href=\"https://www.fool.com/investing/2022/03/09/2-ultra-high-yield-dividend-stocks-with-72-upside/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"T":"美国电话电报","BK4550":"红杉资本持仓","BK4203":"医疗保健房地产投资信托","DISCA":"探索传播","BK4115":"综合电信业务","BK4125":"广播","BK4552":"Archegos爆仓风波概念","BK4507":"流媒体概念","BK4515":"5G概念","SBRA":"Sabra Healthcare REIT","REIT":"ALPS Active REIT ETF","BK4534":"瑞士信贷持仓"},"source_url":"https://www.fool.com/investing/2022/03/09/2-ultra-high-yield-dividend-stocks-with-72-upside/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218289336","content_text":"For more than two months, Wall Street and investors have been reminded that crashes and corrections are a normal part of the investing cycle. Although big drops in the market can be unnerving at times, they're the price of admission to one of the world's top long-term wealth creators.But where there's volatility, there's almost always opportunity. With every notable stock market decline throughout history eventually getting erased by a bull market rally, this ongoing correction represents just another in a long line of opportunities for patient investors to put their money to work and grow their wealth.The big question is: Which stocks to buy?Buying dividend stocks is a winning formula for patient investorsWhile there are a lot of investing strategies that work over the long run, few have outperformed more resoundingly than buying dividend stocks.Nine years ago, J.P. Morgan Asset Management, a division of money-center bank JPMorgan Chase, released a report that examined the annualized performance of dividend-paying stocks to non-dividend payers over a 40-year period (1972-2012). The report showed that dividend stocks absolutely mopped the floor with publicly traded companies that didn't pay a dividend. Specifically, companies that initiated and grew their payout delivered a 9.5% annualized return, which was many multiples higher than the 1.6% annualized return from the public companies not paying a dividend.This outperformance isn't unexpected. Since income stocks are almost always profitable and time-tested, and have relatively transparent long-term growth outlooks, investors should expect these steady companies to increase in value over time.Perhaps the biggest challenge for income investors is balancing yield and risk. Ideally, you'd want the highest yield possible with the least amount of risk. But data has shown that yield and risk tend to go hand in hand once you reach high-yield status (4% and above). Because yield is simply a function of payout relative to share price, a falling share price that's indicative of a struggling or failing operating model can lure income seekers into a value trap. What I'm ultimately trying to say is that high-yield and ultra-high-yield stocks (those I'm arbitrarily defining as having yields of 7% or higher) require extra vetting.The good news for investors is that there are high-quality, ultra-high-yield dividend stocks they can buy and count on. In fact, select analysts on Wall Street see abundant upside for two popular ultra-high-yield income stocks. If these one-year price targets prove accurate, this duo could offer as much as 72% upside.AT&T: Implied upside of 72% (8.71% yield)Among ultra-high-yielding stocks, you'd struggle to find a company with more upside potential than telecom stock AT&T (NYSE:T) -- at least according to one analyst.In January, Ivan Feinseth of Tigress Financial increased his firm's 12-month price target on AT&T to $41 from $36. If Feinseth's price target were to become reality, AT&T's shares would increase by a cool 72%. Feinseth's note accompanying his firms' price target increase points to AT&T's subscriber growth and upcoming spinoff of WarnerMedia (which I'll touch on in a moment) as reasons shares can head substantially higher.For AT&T investors (of which I'm one), there are two key catalysts on the immediate horizon.First, there's the continued upgrade of wireless infrastructure to support 5G speeds. It's been roughly a decade since download speeds were meaningfully improved. The rollout of 5G should entice consumers and businesses to replace their wireless devices for years to come. Since AT&T's wireless segment generates its juiciest margins from data consumption, faster download speeds with 5G represent a healthy dose of organic growth for this stalwart telecom company.The second catalyst is the aforementioned spinoff of content arm WarnerMedia, which will then be merged with Discovery (NASDAQ:DISCA)(NASDAQ:DISCK) to create a new media entity, WarnerMedia-Discovery. Current AT&T investors will have a stake in this new media company.When merged, WarnerMedia-Discovery will offer a larger content library and should be able to reduce its annual expenses by more than $3 billion. Pro forma subscriber figures suggest the new company will have in the neighborhood of 94 million streaming customers.For what remains of AT&T following the spinoff, the focus will turn to debt reduction. AT&T plans to slightly more than halve its dividend so it'll have even more cash to pay down its debt. Yet even with this upcoming dividend cut, AT&T will still sport a hearty yield of around 4.3%.Betting on a 72% increase in its share price in 12 months seems a bit optimistic. However, unlocking value via the WarnerMedia spinoff is a smart move and suggests AT&T could move much higher over time.Sabra Health Care REIT: Implied upside of 34% (8.93% yield)A second ultra-high-yield dividend stock with substantial upside, according to one Wall Street analyst, is Sabra Health Care REIT (NASDAQ:SBRA).Sabra, which is a real estate investment trust (REIT) that owns more than 400 healthcare facilities tied to skilled nursing and senior housing, is expected to rally to $18 a share over the next 12 months, based on the price target offered by Stifel analyst Stephen Manaker. Manaker's optimism is based on the expectation of healthy funds from operation growth in 2022 despite the challenges presented by the COVID-19 pandemic. If Manaker is right, Sabra's shares could jump 34%, which would be on top of its nearly 9% yield.As you might imagine, Sabra Health Care was hit hard during the early stages of the pandemic. Since COVID-19 is particularly troublesome for the elderly, occupancy rates at skilled nursing and senior housing facilities fell. This put into question whether Sabra would receive rent from its tenants on schedule.But there's good news. According to the company, 99.6% of all expected rents have been collected since the pandemic began two years ago. What's more, senior occupancy rates in the skilled nursing and senior housing facilities it owns troughed over a year ago and have been rebounding ever since.To add to the positives, the company recently amended its master lease agreement with Avamere, an operator of 27 facilities leased from Sabra. Avamere is the one key operator that had previously struggled to meet its rent payments. This amended master lease agreement gives Avamere some breathing room as it recovers from the worst of the pandemic, and it allows Sabra to potentially net more in future rent if Avamere's recovery really gains steam. In other words, a big gray cloud of uncertainty has been removed.Although the pandemic isn't over, investors can begin looking into the future and marveling at Sabra's prime position in the healthcare space. As the boomer population ages, it'll be one of a handful of companies in ideal position to benefit.With the company putting $419.4 million to work in the form of new investments in 2021, and netting a 7.6% weighted-average yield on those investments, it's a good bet to deliver steady returns for patient shareholders.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9038606269,"gmtCreate":1646802121576,"gmtModify":1676534164398,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9038606269","repostId":"2218403389","repostType":4,"repost":{"id":"2218403389","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":1646780725,"share":"https://ttm.financial/m/news/2218403389?lang=&edition=fundamental","pubTime":"2022-03-09 07:05","market":"us","language":"en","title":"US STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports","url":"https://stock-news.laohu8.com/highlight/detail?id=2218403389","media":"Reuters","summary":"Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imp","content":"<html><head></head><body><p>Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.</p><p>Losses accelerated into the end of Tuesday&#39;s up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&amp;P 500 fell for a fourth straight session.</p><p>U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.</p><p>&#34;I think it is just investors trying to probe whether it is worth buying the dips and we had a real big <a href=\"https://laohu8.com/S/AONE.U\">one</a> yesterday,&#34; said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. &#34;Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in.&#34;</p><p>“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.</p><p>The Dow Jones Industrial Average    fell 184.74 points, or 0.56%, to 32,632.64, the S&amp;P 500    lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite    dropped 35.41 points, or 0.28%, to 12,795.55.</p><p>Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.</p><p>Gains in megacap growth stocks, such as Tesla, <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> and Alphabet, helped mitigate losses for the S&amp;P 500.</p><p>The energy sector, a standout performer this year,  continued its charge higher, rising 1.4%.</p><p>Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.</p><p>&#34;There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy,&#34; said James Ragan, director of wealth management research at D.A. Davidson. &#34;I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit.&#34;</p><p>Ukraine&#39;s government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a &#34;special operation&#34;, had promised to open to let residents flee the besieged port of Mariupol.</p><p>Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.</p><p>On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.</p><p>In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker&#39;s stock to &#34;buy&#34; from &#34;hold&#34; as a hedge against inflation and prospects of more investments.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.</p><p>About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.</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>US STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports</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\">\nUS STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports\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\">2022-03-09 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.</p><p>Losses accelerated into the end of Tuesday&#39;s up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&amp;P 500 fell for a fourth straight session.</p><p>U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.</p><p>&#34;I think it is just investors trying to probe whether it is worth buying the dips and we had a real big <a href=\"https://laohu8.com/S/AONE.U\">one</a> yesterday,&#34; said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. &#34;Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in.&#34;</p><p>“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.</p><p>The Dow Jones Industrial Average    fell 184.74 points, or 0.56%, to 32,632.64, the S&amp;P 500    lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite    dropped 35.41 points, or 0.28%, to 12,795.55.</p><p>Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.</p><p>Gains in megacap growth stocks, such as Tesla, <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> and Alphabet, helped mitigate losses for the S&amp;P 500.</p><p>The energy sector, a standout performer this year,  continued its charge higher, rising 1.4%.</p><p>Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.</p><p>&#34;There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy,&#34; said James Ragan, director of wealth management research at D.A. Davidson. &#34;I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit.&#34;</p><p>Ukraine&#39;s government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a &#34;special operation&#34;, had promised to open to let residents flee the besieged port of Mariupol.</p><p>Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.</p><p>On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.</p><p>In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker&#39;s stock to &#34;buy&#34; from &#34;hold&#34; as a hedge against inflation and prospects of more investments.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.</p><p>About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4077":"互动媒体与服务","BK4507":"流媒体概念","BK4553":"喜马拉雅资本持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4525":"远程办公概念","BK4554":"元宇宙及AR概念","BK4566":"资本集团","BK4548":"巴美列捷福持仓","GOOG":"谷歌","BK4514":"搜索引擎"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218403389","content_text":"Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.Losses accelerated into the end of Tuesday's up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&P 500 fell for a fourth straight session.U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.\"I think it is just investors trying to probe whether it is worth buying the dips and we had a real big one yesterday,\" said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. \"Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in.\"“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.The Dow Jones Industrial Average    fell 184.74 points, or 0.56%, to 32,632.64, the S&P 500    lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite    dropped 35.41 points, or 0.28%, to 12,795.55.Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.Gains in megacap growth stocks, such as Tesla, Meta Platforms and Alphabet, helped mitigate losses for the S&P 500.The energy sector, a standout performer this year,  continued its charge higher, rising 1.4%.Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.\"There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy,\" said James Ragan, director of wealth management research at D.A. Davidson. \"I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit.\"Ukraine's government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a \"special operation\", had promised to open to let residents flee the besieged port of Mariupol.Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker's stock to \"buy\" from \"hold\" as a hedge against inflation and prospects of more investments.Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.The S&P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966108144,"gmtCreate":1669430130689,"gmtModify":1676538196496,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9966108144","repostId":"2286839697","repostType":4,"repost":{"id":"2286839697","pubTimestamp":1669424518,"share":"https://ttm.financial/m/news/2286839697?lang=&edition=fundamental","pubTime":"2022-11-26 09:01","market":"other","language":"en","title":"3 Cryptos to Buy in a Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=2286839697","media":"Motley Fool","summary":"The crypto winter just got a whole lot colder, but these top cryptos could be heating up.","content":"<html><head></head><body><p>The implosion of FTX, a previously trusted exchange that had a high profile with even casual investors, thanks to its extensive marketing, gave a black eye to a space that has already taken its lumps this year.</p><p>However, while many investors have sold their cryptocurrencies during the current crypto winter, for every seller there is a buyer, and some of them are long-term investors who have conviction in the crypto&#39;s potential. Chaos can provide good buying opportunities. Here are three cryptos for risk-tolerant investors to consider buying during the current bear market.</p><h2><b>1. Ethereum</b></h2><p><b>Ethereum</b> has rallied 26% since its June low, but has sold off following the FTX bankruptcy filing. However, this could be a case of the baby being thrown out with the bathwater as Ethereum is a decentralized, established cryptocurrency that has little to do with FTX. No single entity controls Ethereum, and over 70 million users worldwide help to validate transactions and secure the Ethereum network, putting it in stark contrast with cryptocurrencies like <b>FTX Token</b> and many of the other newer cryptocurrencies issued by exchanges and other centralized entities.</p><p>This year, Ethereum users welcomed its long-awaited transition to proof-of-stake consensus, known as The Merge, which drastically reduced Ethereum&#39;s carbon footprint, paved the way for sharding (which will eventually lead to faster transactions and lower fees when implemented in the next upgrade), and opened up the ability for more Ethereum users to earn rewards for participating in the network by staking their holdings to validate transactions and secure the network.</p><p>The ability to easily earn staking rewards also increases Ethereum&#39;s appeal as an investment. A user needs to stake a minimum of 32 Ether to run their own validator, but there are plenty of services that stake your Ethereum for you, allowing you to earn returns competitive with the payouts you can earn from popular dividend stocks as well as 10-year Treasury notes.</p><p>The $180 billion cryptocurrency is by far the largest smart-contract platform, making it the de facto gateway for larger institutional investors that want to get involved in the world of decentralized finance (DeFi). <b>JPMorgan Chase</b> recently tested the waters of decentralized finance with its first ever DeFi trade. The trade was executed on the <b>Polygon</b> blockchain, which is a Layer 2 network on Ethereum. Major decentralized exchanges like <b>Uniswap</b>, <b>dYdX</b>, and others are built on Ethereum. As additional traditional financial heavyweights get involved in decentralized finance, Ethereum will be their first stop.</p><p>With new capabilities after The Merge such as the ability to earn rewards for staking, and its position at the gateway to the world of DeFi, Ethereum looks like a top cryptocurrency to buy during the bear market.</p><h2><b>2. Bitcoin </b></h2><p>Like Ethereum, <b>Bitcoin</b> is a decentralized cryptocurrency that stands out in the crowd. The original crypto is also the original decentralized asset. There is no leader or central authority that controls the Bitcoin network -- meaning there&#39;s no one entity that can make a poor decision or act in a manner that destroys the value of Bitcoin. A network of miners all over the world secure the Bitcoin network by solving complex mathematical equations to validate transactions and earn more Bitcoin. Bitcoin is also transparent in that all transactions appear on its blockchain, which is publicly viewable.</p><p>Bitcoin is the oldest and largest cryptocurrency, and will benefit as the gateway to cryptocurrency as more institutional investors and corporations test the waters of cryptocurrency. While the FTX saga has certainly set crypto adoption back a few steps, overall, the tide is turning toward Bitcoin and cryptocurrency as a whole.</p><p>On Oct. 11, <b>Bank of New York Mellon</b>, the world&#39;s largest custodial bank, announced that it would offer custody for cryptocurrencies. <b>Alphabet </b>recently announced it would utilize <b>Coinbase</b> to accept payments using Bitcoin for its Google Cloud services, and <b>Mastercard</b> announced it would offer its services to enable traditional banks to offer cryptocurrency trading.</p><p>As the world moves further toward crypto adoption, Bitcoin is best suited to lead cryptocurrency forward.</p><h2><b>3. Litecoin</b></h2><p><b>Litecoin</b> is one major crypto that has been able to avoid being pulled down in the current sell-off, and the proof-of-work crypto is surprisingly up 16% over the past month. The $4 billion crypto, which started as a fork of Bitcoin in 2011, is experiencing a bit of a resurgence, with a rally of 53% since the low it hit in June.</p><p>Litecoin is surging as the network&#39;s hash rate hits new all-time highs, indicating increasing interest in Litecoin and more competition to earn Litecoin by mining. Litecoin also benefited from news that it will join Bitcoin and Ethereum as digital assets that will be available on <b>Moneygram International</b>&#39;s payment platform. Like Bitcoin and Ethereum, Litecoin is one of the cryptocurrencies that Google Cloud will accept for payment, giving the 16th-largest crypto by market cap enhanced credibility. Perhaps a renewed interest in decentralized, proof-of-work assets plus growing adoption will continue to propel Litecoin higher.</p><p>The current crypto winter has been difficult for investors, but this bear market is also an opportune time for long-term, risk-tolerant investors to accumulate more tokens at lower prices before market sentiment again turns positive.</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>3 Cryptos to Buy in a Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Cryptos to Buy in a Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-26 09:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/11/25/3-cryptos-to-buy-in-a-bear-market/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The implosion of FTX, a previously trusted exchange that had a high profile with even casual investors, thanks to its extensive marketing, gave a black eye to a space that has already taken its lumps ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/25/3-cryptos-to-buy-in-a-bear-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2022/11/25/3-cryptos-to-buy-in-a-bear-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2286839697","content_text":"The implosion of FTX, a previously trusted exchange that had a high profile with even casual investors, thanks to its extensive marketing, gave a black eye to a space that has already taken its lumps this year.However, while many investors have sold their cryptocurrencies during the current crypto winter, for every seller there is a buyer, and some of them are long-term investors who have conviction in the crypto's potential. Chaos can provide good buying opportunities. Here are three cryptos for risk-tolerant investors to consider buying during the current bear market.1. EthereumEthereum has rallied 26% since its June low, but has sold off following the FTX bankruptcy filing. However, this could be a case of the baby being thrown out with the bathwater as Ethereum is a decentralized, established cryptocurrency that has little to do with FTX. No single entity controls Ethereum, and over 70 million users worldwide help to validate transactions and secure the Ethereum network, putting it in stark contrast with cryptocurrencies like FTX Token and many of the other newer cryptocurrencies issued by exchanges and other centralized entities.This year, Ethereum users welcomed its long-awaited transition to proof-of-stake consensus, known as The Merge, which drastically reduced Ethereum's carbon footprint, paved the way for sharding (which will eventually lead to faster transactions and lower fees when implemented in the next upgrade), and opened up the ability for more Ethereum users to earn rewards for participating in the network by staking their holdings to validate transactions and secure the network.The ability to easily earn staking rewards also increases Ethereum's appeal as an investment. A user needs to stake a minimum of 32 Ether to run their own validator, but there are plenty of services that stake your Ethereum for you, allowing you to earn returns competitive with the payouts you can earn from popular dividend stocks as well as 10-year Treasury notes.The $180 billion cryptocurrency is by far the largest smart-contract platform, making it the de facto gateway for larger institutional investors that want to get involved in the world of decentralized finance (DeFi). JPMorgan Chase recently tested the waters of decentralized finance with its first ever DeFi trade. The trade was executed on the Polygon blockchain, which is a Layer 2 network on Ethereum. Major decentralized exchanges like Uniswap, dYdX, and others are built on Ethereum. As additional traditional financial heavyweights get involved in decentralized finance, Ethereum will be their first stop.With new capabilities after The Merge such as the ability to earn rewards for staking, and its position at the gateway to the world of DeFi, Ethereum looks like a top cryptocurrency to buy during the bear market.2. Bitcoin Like Ethereum, Bitcoin is a decentralized cryptocurrency that stands out in the crowd. The original crypto is also the original decentralized asset. There is no leader or central authority that controls the Bitcoin network -- meaning there's no one entity that can make a poor decision or act in a manner that destroys the value of Bitcoin. A network of miners all over the world secure the Bitcoin network by solving complex mathematical equations to validate transactions and earn more Bitcoin. Bitcoin is also transparent in that all transactions appear on its blockchain, which is publicly viewable.Bitcoin is the oldest and largest cryptocurrency, and will benefit as the gateway to cryptocurrency as more institutional investors and corporations test the waters of cryptocurrency. While the FTX saga has certainly set crypto adoption back a few steps, overall, the tide is turning toward Bitcoin and cryptocurrency as a whole.On Oct. 11, Bank of New York Mellon, the world's largest custodial bank, announced that it would offer custody for cryptocurrencies. Alphabet recently announced it would utilize Coinbase to accept payments using Bitcoin for its Google Cloud services, and Mastercard announced it would offer its services to enable traditional banks to offer cryptocurrency trading.As the world moves further toward crypto adoption, Bitcoin is best suited to lead cryptocurrency forward.3. LitecoinLitecoin is one major crypto that has been able to avoid being pulled down in the current sell-off, and the proof-of-work crypto is surprisingly up 16% over the past month. The $4 billion crypto, which started as a fork of Bitcoin in 2011, is experiencing a bit of a resurgence, with a rally of 53% since the low it hit in June.Litecoin is surging as the network's hash rate hits new all-time highs, indicating increasing interest in Litecoin and more competition to earn Litecoin by mining. Litecoin also benefited from news that it will join Bitcoin and Ethereum as digital assets that will be available on Moneygram International's payment platform. Like Bitcoin and Ethereum, Litecoin is one of the cryptocurrencies that Google Cloud will accept for payment, giving the 16th-largest crypto by market cap enhanced credibility. Perhaps a renewed interest in decentralized, proof-of-work assets plus growing adoption will continue to propel Litecoin higher.The current crypto winter has been difficult for investors, but this bear market is also an opportune time for long-term, risk-tolerant investors to accumulate more tokens at lower prices before market sentiment again turns positive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9986791305,"gmtCreate":1667011581407,"gmtModify":1676537849534,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9986791305","repostId":"2278507483","repostType":4,"repost":{"id":"2278507483","pubTimestamp":1667005734,"share":"https://ttm.financial/m/news/2278507483?lang=&edition=fundamental","pubTime":"2022-10-29 09:08","market":"us","language":"en","title":"3 Warren Buffett Stocks to Buy Hand Over Fist in November","url":"https://stock-news.laohu8.com/highlight/detail?id=2278507483","media":"Motley Fool","summary":"The Oracle of Omaha's methodology is passing the test of time after all.","content":"<html><head></head><body><p>Warren Buffett&#39;s value-based approach to picking stocks somewhat fell out of favor back in mid-2020, when growth stocks led the market out of its pandemic-prompted pullback. The market environment is more than a little rocky this year, though, and Buffett&#39;s philosophy is proving itself once again. Whereas the <b>S&amp;P 500</b> has been rather deep in the red over the past year of trading, <b>Berkshire Hathaway</b> stock is basically breaking even.</p><p>Translation: Given enough time, the all-weather Warren Buffett way still works.</p><p>Let&#39;s take a look at three Berkshire holdings you may want to scoop up for yourself, and soon. They&#39;re mostly underperforming for now. But these stocks tend to be recession-resilient, and they could end up outperforming the broad market in the foreseeable future.</p><h2>1. Bank of America</h2><p>At first glance, there are some troubling indicators surrounding banks right now. Rising interest rates could crimp demand for loans, while a weakening economy dents borrowers&#39; ability to make loan payments. Such an environment also sours the stock market, undermining the banking industry&#39;s investment-related businesses.</p><p>But investors may be pricing in far more downside than is merited for banks at the same time they&#39;re overlooking the upsides of this situation. That&#39;s arguably what&#39;s happening with <b>Bank of America</b> shares anyway.</p><p>Yes, last quarter&#39;s results showed a sizable uptick in provisions for losses on loans that may be in the cards, and per-share earnings fell from $0.85 to only $0.81 per share. That&#39;s quite possibly the worst trouble the bank&#39;s facing though. Even the company&#39;s investment management operation more or less matched this year&#39;s second-quarter results as well as the year-ago Q3 results during the third quarter of this year despite the broader market&#39;s poor performance.</p><p>Indeed, things may even be looking up very soon for Buffett&#39;s beaten-down $133 billion Bank of America position, which accounts for more than a tenth of his total stock holdings.</p><p>Although Bank of America is likely to make far fewer loans within the next few months than it has during the past few months, the net profitability of those loans should be much greater than the bank&#39;s current loan portfolio. In a recent interview with Yahoo! Finance, CEO Brian Moynihan pointed out that continued increases in interest rates could add another billion dollars worth of profitability to the company&#39;s current bottom line. That would bolster net interest income that was already up 24% year over year last quarter.</p><p>It&#39;s a possibility, however, that&#39;s only recent begun to be reflected in the stock&#39;s rebound effort from a sell-off that dragged it 40% below February&#39;s peak price. Still down 20% year to date though, the bounce since October&#39;s low may be a sign that the market is finally starting to right-price this ticker headed into November.</p><h2>2. Coca-Cola</h2><p>The recession-related risk of losing a job may prompt some people to cancel a vacation or postpone the purchase of a new car. Economic weakness and burgeoning inflation, however, typically don&#39;t cause consumers to stop buying their favorite beverages.</p><p>Enter<b> Coca-Cola</b>, which is doing just fine at a time when most companies aren&#39;t. Last quarter&#39;s organic revenue was up 16% on a 4% increase in unit volume, meaning the beverage giant is successfully passing along its higher costs to its customers. The company also managed to gain market share in a very crowded drinks market. And, given all that its management knows right now, Coca-Cola is still looking for solid single-digit revenue and earnings growth for the upcoming year despite broad economic headwinds.</p><p>This loyalty makes sense. Coca-Cola is one of the world&#39;s most recognized and beloved brand names, and being in business for 136 years means it&#39;s had plenty of time to become a fixture of the global culture. Christmas ornaments, clothing, toys, and home decor are just some of non-beverage goods that regularly borrow the Coca-Cola logo and colors, reflecting the planet&#39;s affinity for the brand outside of beverages.</p><p>Of course, The Coca-Cola Company isn&#39;t just its namesake cola anymore. The company reaches plenty of non-soda drinkers as well; it also owns Dasani water, Gold Peak tea, and Minute Maid juices, just to name a few.</p><p>Perhaps the real upside to new investors, however, is the nuance that Buffett likes most about this particular Berkshire holding. That&#39;s the dividend -- and its reliable growth -- that keeps on coming even in lousy environments. The quarterly payout has not only been paid like clockwork for decades now, but the annual dividend payment has been upped every year for the past 60 years.  Thanks to the stock&#39;s relative weakness this year, you can step into this stock right now while its yield is an above-average 3%.</p><h2>3. American Express</h2><p>Finally, add <b>American Express</b> to your list of Buffett stocks to buy sooner than later, while you can still buy it 26% below February&#39;s peak.</p><p>On the surface, it&#39;s just another credit company. Dig deeper, though, and it&#39;s much more. Whereas competitors like <b><a href=\"https://laohu8.com/S/V\">Visa</a></b> and <b>Mastercard</b> provide a payments processing platform for card issuers, American Express builds and operates its own robust charge-card ecosystem. The bulk of the company&#39;s personal and business charge cards impose an annual fee, but it&#39;s a fee its customers gladly pay in exchange for incredible perks. The Platinum Card, for instance, offers access to select airport lounges, while the Gold Card offers outright credits for <b>Uber Technology</b>&#39;s ride-hailing services.</p><p>And this ecosystem of benefits is no small matter.</p><p>The company earns interest income like any other lender and collects the usual transaction fees for facilitating the purchase of goods and services. But it also generates a great deal of service and card-fee income. Roughly 10% of last quarter&#39;s top line came from cardholders&#39; payments just for the privilege of holding an American Express charge card.</p><p>Of course, the economic turbulence could rattle consumers&#39; spending and prompt some to cancel credit cards that incur an annual fee. But that&#39;s not as likely as you might suspect.</p><p>Aside from the fact that American Express cardholders really, <i>really</i> love their rewards programs -- in August, J.D. Power ranked American Express highest for customer satisfaction for a third year in a row -- credit cards aren&#39;t just for splurging anymore. They&#39;re increasingly being used as an alternative to cash to buy everyday goods. In this vein, American Express has collected nearly $38.7 billion in net revenue through the first three quarters of this year, up 30% from where it was at this time of year in pre-pandemic 2019. Analysts are calling for top-line growth of 11% next year, too, despite the brewing economic headwind. That&#39;s more than many other companies will be able to produce.</p><p>You won&#39;t want to tarry if you agree with the bigger-picture bullish premise either. While the stock&#39;s deep in the red for the year, American Express and now both Mastercard and Visa all agreed in their most recent earnings reports that consumer spending is remaining surprisingly firm. The market hasn&#39;t been pricing these stocks accordingly, but may well do that beginning in November now that all three players are singing the same chorus.</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>3 Warren Buffett Stocks to Buy Hand Over Fist in November</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Warren Buffett Stocks to Buy Hand Over Fist in November\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-29 09:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/10/28/3-warren-buffett-stocks-to-buy-hand-over-fist-in-n/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett's value-based approach to picking stocks somewhat fell out of favor back in mid-2020, when growth stocks led the market out of its pandemic-prompted pullback. The market environment is ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/28/3-warren-buffett-stocks-to-buy-hand-over-fist-in-n/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","KO":"可口可乐","AXP":"美国运通"},"source_url":"https://www.fool.com/investing/2022/10/28/3-warren-buffett-stocks-to-buy-hand-over-fist-in-n/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2278507483","content_text":"Warren Buffett's value-based approach to picking stocks somewhat fell out of favor back in mid-2020, when growth stocks led the market out of its pandemic-prompted pullback. The market environment is more than a little rocky this year, though, and Buffett's philosophy is proving itself once again. Whereas the S&P 500 has been rather deep in the red over the past year of trading, Berkshire Hathaway stock is basically breaking even.Translation: Given enough time, the all-weather Warren Buffett way still works.Let's take a look at three Berkshire holdings you may want to scoop up for yourself, and soon. They're mostly underperforming for now. But these stocks tend to be recession-resilient, and they could end up outperforming the broad market in the foreseeable future.1. Bank of AmericaAt first glance, there are some troubling indicators surrounding banks right now. Rising interest rates could crimp demand for loans, while a weakening economy dents borrowers' ability to make loan payments. Such an environment also sours the stock market, undermining the banking industry's investment-related businesses.But investors may be pricing in far more downside than is merited for banks at the same time they're overlooking the upsides of this situation. That's arguably what's happening with Bank of America shares anyway.Yes, last quarter's results showed a sizable uptick in provisions for losses on loans that may be in the cards, and per-share earnings fell from $0.85 to only $0.81 per share. That's quite possibly the worst trouble the bank's facing though. Even the company's investment management operation more or less matched this year's second-quarter results as well as the year-ago Q3 results during the third quarter of this year despite the broader market's poor performance.Indeed, things may even be looking up very soon for Buffett's beaten-down $133 billion Bank of America position, which accounts for more than a tenth of his total stock holdings.Although Bank of America is likely to make far fewer loans within the next few months than it has during the past few months, the net profitability of those loans should be much greater than the bank's current loan portfolio. In a recent interview with Yahoo! Finance, CEO Brian Moynihan pointed out that continued increases in interest rates could add another billion dollars worth of profitability to the company's current bottom line. That would bolster net interest income that was already up 24% year over year last quarter.It's a possibility, however, that's only recent begun to be reflected in the stock's rebound effort from a sell-off that dragged it 40% below February's peak price. Still down 20% year to date though, the bounce since October's low may be a sign that the market is finally starting to right-price this ticker headed into November.2. Coca-ColaThe recession-related risk of losing a job may prompt some people to cancel a vacation or postpone the purchase of a new car. Economic weakness and burgeoning inflation, however, typically don't cause consumers to stop buying their favorite beverages.Enter Coca-Cola, which is doing just fine at a time when most companies aren't. Last quarter's organic revenue was up 16% on a 4% increase in unit volume, meaning the beverage giant is successfully passing along its higher costs to its customers. The company also managed to gain market share in a very crowded drinks market. And, given all that its management knows right now, Coca-Cola is still looking for solid single-digit revenue and earnings growth for the upcoming year despite broad economic headwinds.This loyalty makes sense. Coca-Cola is one of the world's most recognized and beloved brand names, and being in business for 136 years means it's had plenty of time to become a fixture of the global culture. Christmas ornaments, clothing, toys, and home decor are just some of non-beverage goods that regularly borrow the Coca-Cola logo and colors, reflecting the planet's affinity for the brand outside of beverages.Of course, The Coca-Cola Company isn't just its namesake cola anymore. The company reaches plenty of non-soda drinkers as well; it also owns Dasani water, Gold Peak tea, and Minute Maid juices, just to name a few.Perhaps the real upside to new investors, however, is the nuance that Buffett likes most about this particular Berkshire holding. That's the dividend -- and its reliable growth -- that keeps on coming even in lousy environments. The quarterly payout has not only been paid like clockwork for decades now, but the annual dividend payment has been upped every year for the past 60 years.  Thanks to the stock's relative weakness this year, you can step into this stock right now while its yield is an above-average 3%.3. American ExpressFinally, add American Express to your list of Buffett stocks to buy sooner than later, while you can still buy it 26% below February's peak.On the surface, it's just another credit company. Dig deeper, though, and it's much more. Whereas competitors like Visa and Mastercard provide a payments processing platform for card issuers, American Express builds and operates its own robust charge-card ecosystem. The bulk of the company's personal and business charge cards impose an annual fee, but it's a fee its customers gladly pay in exchange for incredible perks. The Platinum Card, for instance, offers access to select airport lounges, while the Gold Card offers outright credits for Uber Technology's ride-hailing services.And this ecosystem of benefits is no small matter.The company earns interest income like any other lender and collects the usual transaction fees for facilitating the purchase of goods and services. But it also generates a great deal of service and card-fee income. Roughly 10% of last quarter's top line came from cardholders' payments just for the privilege of holding an American Express charge card.Of course, the economic turbulence could rattle consumers' spending and prompt some to cancel credit cards that incur an annual fee. But that's not as likely as you might suspect.Aside from the fact that American Express cardholders really, really love their rewards programs -- in August, J.D. Power ranked American Express highest for customer satisfaction for a third year in a row -- credit cards aren't just for splurging anymore. They're increasingly being used as an alternative to cash to buy everyday goods. In this vein, American Express has collected nearly $38.7 billion in net revenue through the first three quarters of this year, up 30% from where it was at this time of year in pre-pandemic 2019. Analysts are calling for top-line growth of 11% next year, too, despite the brewing economic headwind. That's more than many other companies will be able to produce.You won't want to tarry if you agree with the bigger-picture bullish premise either. While the stock's deep in the red for the year, American Express and now both Mastercard and Visa all agreed in their most recent earnings reports that consumer spending is remaining surprisingly firm. The market hasn't been pricing these stocks accordingly, but may well do that beginning in November now that all three players are singing the same chorus.","news_type":1},"isVote":1,"tweetType":1,"viewCount":10,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9981438783,"gmtCreate":1666578827142,"gmtModify":1676537770704,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9981438783","repostId":"1133583383","repostType":4,"repost":{"id":"1133583383","pubTimestamp":1666582585,"share":"https://ttm.financial/m/news/1133583383?lang=&edition=fundamental","pubTime":"2022-10-24 11:36","market":"us","language":"en","title":"Tesla: Accounting And Valuation Concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1133583383","media":"Seeking Alpha","summary":"SummaryIn this article, I analyze recent reports from banks that have updated their price targets fo","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>In this article, I analyze recent reports from banks that have updated their price targets for Tesla stock since the release of Q3 results.</li><li>BofA and Morgan Stanley are overly optimistic, in my view, while JPMorgan seems closest to reality.</li><li>GLJ Research&#39;s analysts give you 5 reasons to believe TSLA is artificially boosting its revenue numbers.</li><li>Waiting and watching as the price is exposed to the consequences of multiple contractions - which are logical today - does not look optimal, in my view.</li><li>This time, I rate Tesla stock as Hold.</li></ul><p><b>Introduction</b></p><p>In late June 2022, I posted a pair trade idea in which I recommended buying Tesla, Inc. (NASDAQ:TSLA) and selling Lucid Group, Inc. (LCID) stock short (in equal dollar amounts). My pitch was simple enough. Both companies look overvalued in terms of absolute multiples. Still, due to more efficient operational growth, Tesla should have experienced a much less noticeable multiple contraction than Lucid while receiving much more support from retail investors.</p><p>A few months have passed since then. The S&amp;P 500 (SPX) fell even lower, dragging the rest of the market with it, including the companies mentioned above. But my thesis was justified - the difference in the magnitude of the declines in TSLA and LCID would bring a potential investor +22.9% (gross, before deducting brokerage commissions for shorting LCID):</p><p><img src=\"https://static.tigerbbs.com/876778b7ede509db5346250fe56fec97\" tg-width=\"640\" tg-height=\"615\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha, Ycharts, author&#39;s notes</p><p>At the time, I recommended holding this deal until the end of the year. However, in my article today, I want to look at the recent banks&#39; equity research reports on Tesla&#39;s financial results. Let us take a look at them and try to assess how logical their forecasts and conclusions are and whether they should be trusted.</p><p>Bank of America - 3Q results look pretty good to us – first take [October 19]</p><p>Analysts John Murphy, CFA, John P. Babcock, and Federico Merendi reiterated a Neutral rating on Tesla with a price objective (PO) of $325 per share - that&#39;s 3.17% higher than their previous PO of $315.</p><p>Moreover, BofA said much the same thing as I did when I put forward my thesis in June - TSLA&#39;s self-funding status is a notable advantage over some startup competitors in the electric car space, but because its valuation is the result of optimistic projections for a long future (recall the 50% growth target), it will be quite difficult for the quotes to grow strongly in the near future.</p><p>However, why did the bank raise its TSLA price target anyway? The issue is how the actual results differed from what analysts had expected from the company:</p><p><img src=\"https://static.tigerbbs.com/ed4dc14a81b28e60a2032d559c526278\" tg-width=\"640\" tg-height=\"335\" referrerpolicy=\"no-referrer\"/></p><p>BofA, TSLA report, October 19</p><p>I can understand why the analysts were wrong in forecasting gross profit - the variance seems negligible. But to be wrong on operating expenses (OPEX) by 15% and on taxes by 38.8%? If Tesla really is not just faking its books - we will get into that later - but is working as we see in the statements, then the company&#39;s operating efficiency makes one sit up and take notice because even top analysts could not imagine how Elon Musk could save so much on OPEX this quarter.</p><p>BofA values the company using EV/Sales and EV/EBITDA multiples, but $325/share is too optimistic a target in my opinion. Let us look at their logic. BofA analysts expect EV/EBITDA to be 41x in 2022, down 37.1% from 2021. At the same time, EBITDA growth will be 59.2% in 2022. This is such a sharp decline in the multiple against the backdrop of such a high growth rate in the underlying financial metric. In 2023, however, EBITDA is expected to grow by only 7% - many times less than in the previous year. However, the analysts&#39; forecast includes a much less modest contraction of 6.6% in 2023, which is not in line with the trend of recent years:</p><p><img src=\"https://static.tigerbbs.com/146388aab7013b33a9f50032c16ec0f7\" tg-width=\"640\" tg-height=\"567\" referrerpolicy=\"no-referrer\"/></p><p>BofA, TSLA report, with author&#39;s calculations and notes</p><p>In my view, the EV/EBITDA multiple in 2023 should be at least 30x, if not lower, if the multiple contraction continues - and it should, given lower growth forecasts and a generally higher interest rate environment - implying a 27% reduction in the multiple from 2022 to 2023. At EBITDA of $19.916 billion in 2023 (BofA&#39;s estimate), enterprise value should be about $600 billion - that&#39;s 5.5% below the current one.</p><p>Morgan Stanley - 3Q Margins Beat, But FY23 Outlook Still at Risk [October 19]</p><p>AnalystsAdam Jonas, CFA, Evan Silverberg, CFA, CPA, et al. released an update of their Overweight rating, having $350 per share as a new price objective - below its pre-split target of $1300(about $433 per share).</p><p>Morgan Stanley, like BofA, was wrong about growth in OPEX, interest expense, and stock-based compensation. The company&#39;s lower-than-expected CAPEX coupled with stronger EPS growth resulted in a 153.6% undervaluation of FCF:</p><p><img src=\"https://static.tigerbbs.com/d31a9c6b04a11e6fa0bfb86d24468c71\" tg-width=\"492\" tg-height=\"730\" referrerpolicy=\"no-referrer\"/></p><p>MS, TSLA report, October 19</p><p>The key takeaways from their analysis of TSLA&#39;s report:</p><ul><li>expected cost inflation related to logistics/shipping as well as adverse timing differences related to supplier payments given significant input cost inflation on the battery and non-battery side. That didn&#39;t happen;</li><li>If one were to inflation adjust the YoY moves in CAPEX and OPEX, Tesla&#39;s clearly doing more with less;</li><li>Supercharging revenue will most likely get above 10% of Tesla&#39;s total revenue within the next 12 to 18 months;</li><li>Production is ramping up at the 40-GWh Megapack factory in California - a solid win for the company, demonstrating its strength and focus on the battery front.</li></ul><p><b>Okay, but why did analysts lower their TSLA price target?</b></p><p>Here you have to look at the input data for their SOTP 6-component model:</p><p><img src=\"https://static.tigerbbs.com/182723ae2d8888a7435a237b5408867c\" tg-width=\"640\" tg-height=\"181\" referrerpolicy=\"no-referrer\"/></p><p>MS, TSLA report, October 19</p><blockquote>Our PT of $433 is comprised of 6 components:<b>(1)</b>$203/share for core Tesla Auto business on 8.6mm units in 2030, 8.5% WACC, 15x 2030 exit EBITDA multiple, exit EBITDA margin of 20%.<b>(2)</b>Tesla Mobility at $25 on DCF with ~500k cars at $1.7/mile by 2030.<b>(3)</b>Tesla as a 3rd party supplier at $44/share.<b>4)</b>Energy at $37/share,<b>5)</b>Insurance at $12/share, &amp;<b>6)</b>Network Services at $113, 25mm MAUs, $100 ARPU by 2030, 20% discount.</blockquote><blockquote>Source: Investing.com, author&#39;s adjustment for the split (3:1)</blockquote><table><tbody><tr><td><b>Segment / Date</b></td><td><p><b>Jun 16, 2022(rounded)</b></p></td><td><b>Now</b></td><td><b>Change</b></td></tr><tr><td>Core Tesla Auto business</td><td>$203</td><td>$287</td></tr><tr><td>Tesla Mobility</td><td>$25</td><td>$22</td><td>1.4%</td></tr><tr><td>3rd party supplier</td><td>$44</td><td>$27</td><td>-38.2%</td></tr><tr><td>Energy</td><td>$37</td><td>$31</td><td>-16.2%</td></tr><tr><td>Insurance</td><td>$12</td><td>$8</td><td>-35.1%</td></tr><tr><td>Network Services</td><td>$113</td><td>$75</td><td>-33.4%</td></tr><tr><td><b>Sum Of The Parts</b></td><td><b>$433</b></td><td><b>$450</b></td><td><b>4.6%</b></td></tr></tbody></table><p>Source: Author&#39;s compilation</p><p>If you add up all the parts of the analysts&#39; outputs, it shows that their SOTP model does indeed show a price target of $453 per share - I suspect that the Morgan Stanley analysts mistyped their report and wrote $287 instead of $187 because the difference is exactly $100 while the WACC is higher and the sales volume is lower than before. Here&#39;s how the above table should most likely look like:</p><table><tbody><tr><td><b>Segment / Date</b></td><td><b>Jun 16, 2022 (rounded)</b></td><td><b>Now</b></td><td><b>Change</b></td></tr><tr><td>Core Tesla Auto business</td><td>$203</td><td>$187</td><td>-7.7%</td></tr><tr><td>Tesla Mobility</td><td>$25</td><td>$22</td><td>1.4%</td></tr><tr><td>3rd party supplier</td><td>$45</td><td>$27</td><td>-38.2%</td></tr><tr><td>Energy</td><td>$37</td><td>$31</td><td>-16.2%</td></tr><tr><td>Insurance</td><td>$12</td><td>$8</td><td>-35.1%</td></tr><tr><td>Network Services</td><td>$113</td><td>$75</td><td>-33.4%</td></tr><tr><td><b>Sum Of The Parts</b></td><td><b>$433</b></td><td><b>$350</b></td><td><b>-18.5%</b></td></tr></tbody></table><p>Source: Author&#39;s compilation</p><p>If you look at how the analysts&#39; assumptions have changed, we see only 3 concrete changes here: 1) the number of vehicles produced in 2030 is now reduced by 0.9 million units (-10.5%); 2) the WACC is increased by 0.2% (8.7% vs. 8.5%); and 3) the exit EBITDA margin is increased from 20% to 21%. This applies directly to the main revenue stream (Core Tesla Auto business) - the assumptions for the other parts are not disclosed (I assume the WACC has been applied to them as well, considering that Tesla Mobility&#39;s DCF has decreased by 12.5% without any visible adjustments in inputs).</p><p>That is, broadly speaking, the entire decline in the target price (the top rightmost column above) is due to A) a slight slowdown in operations, and B) a slight 0.2% increase in WACC. At the same time, a new, more positive improvement in business margins has by no means kept the target price for TSLA from correcting. In my opinion, the WACC was not raised high enough by analysts and should have been raised by more than 1% instead of 0.2%. Why do I think so?</p><p><b>First,</b> the analysts had to account for higher betas, that mostly increased since their previous call (June 16, 2022):</p><p><img src=\"https://static.tigerbbs.com/d2a07a7f6dd7206ed566e9dcc98a2649\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p>Higher beta - higher WACC. Of course, it is possible that they took a 3-year coefficient, but then it would be cherry-picking. It is unlikely that the Morgan Stanley analysts did this (I really hope so).</p><p><b>The second</b> is the rising risk-free rate, which mostly corresponds to 10-year Treasuries yield, which (theoretically) have no credit risk. The rate has risen since June 15, 2022, from 3.292% to 4.274% at the time of writing. Effective 7-10 year yields on corporate bonds have jumped even higher since then:</p><p><img src=\"https://static.tigerbbs.com/63df41aa9b262fde5ad07913778940a5\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p><b>The third point</b> that analysts may not have taken into account in their WACC calculation is the slowdown in economic growth in China and globally, which should have been reflected in the discount rate in the form of an additional premium. Since mid-June 2022, the geopolitical situation in the world has only gotten worse (in my opinion), and the forecast for global economic growth was just recently lowered by the IMF. Therefore, this premium should have been larger, if it was included in their calculations at all.</p><p><img src=\"https://static.tigerbbs.com/c8ea24a9cde929b8b6ba9278044bd269\" tg-width=\"640\" tg-height=\"483\" referrerpolicy=\"no-referrer\"/></p><p>IMF, author&#39;s notes</p><p>If a minor 0.2% increase in WACC has led to such severe corrections in price targets for the company&#39;s various businesses, imagine how long the analysts&#39; model should run - apparently they predict all segments to 2030, using huge growth rates in their models. Even a slight deviation from these rates will cause the model to collapse. In my opinion, this is a serious risk for those who want to rely on the DCF calculations of Morgan Stanley&#39;s analysts.</p><p>JPMorgan - Trim Estimates and Price Target After Softer Trend in 3Q Volume &amp; Pricing [October 20]</p><p>AnalystsRyan Brinkman, Rajat Gupta, CFA, Manasvi Garg, et al. stick to an oppositional opinion concerning the other two banks above. They are Underweight Tesla with a price target of $150/share, revised down from $153/share, having the following reasoning:</p><blockquote>We are lowering our estimates and price target after Tesla reported modestly softer than expected 3Q22 results Wednesday after the close, featuring lower-than-consensus margin on lower-than-expected revenue. Average transaction prices rose strongly y/y, but to a level that was lower than expected, driving a -3% revenue miss given that deliveries were previously disclosed. The results will likely add to debates about demand destruction that ensued after 3Q deliveries tracked -5% below company-compiled consensus. Management itself reined in near-term growth expectations, now looking for just less than its original target of more than +50% unit growth this year vs. previous indication only that the target would be more difficult to achieve. We continue to see risk to guidance for +50% annual unit volume growth over time (in some years more, in some years less), including given higher prices, higher interest rates, an increasingly tapped-out consumer, and given the paucity of new model introductions, with Tesla&#39;s lineup essentially the same as at the start of 2021 after the last Model S &amp; X refresh, with the Cybertruck (originally slated for 2021) still on tap. Automotive gross margin of 26.8% missed Bloomberg consensus of 27.7%, with management citing persistent inflationary pressures, including higher logistics costs. We remain cautious on valuation, particularly in the context of lofty unit volume growth expectations, and continue to see material downside risk to our December 2023 price target, which declines today to $150 from $153, on account of unchanged target multiples applied to our slightly lower estimates, which decline primarily on flow-through of 3Q&#39;s softer-than-expected trend in demand expressed in the form of lower transaction prices.</blockquote><blockquote>Source: JPMorgan&#39;s TSLA report, October 20</blockquote><p>Their price target methodology is less sophisticated than Morgan Stanley&#39;s one (and more reasonable, in my opinion, than that of BofA) and is predicated upon a 50/50 blend of DCF and 2025E-based multiples analysis (itself a blend of P/E, EV/EBITDA, and price-to-sales).</p><p>And if you take a look at JPM&#39;s Key Figures table, theirs seem much more realistic - at least the analysts take into account a more reasonable multiple and margin contractions as Tesla expands its business and matures:</p><p><img src=\"https://static.tigerbbs.com/b6bc5018373d282566815bd6816da0b6\" tg-width=\"581\" tg-height=\"631\" referrerpolicy=\"no-referrer\"/></p><p>JPMorgan, TSLA report, October 20</p><p>They propose to focus on equal weighting of 3 coefficients to find fair value (50% of the model) and DCF calculations for the remaining half. If they had focused solely on DCF, they would have received $129 per share on exit - and against a backdrop of rapidly growing FCF. However, FCF-based valuation has shown in practice how indifferent the market is to it concerning Tesla - just take a look at the stock rating history from Ryan Brinkman, the lead author of the above JPM report:</p><p><img src=\"https://static.tigerbbs.com/58a254263a2a3a5480f2c67ead96566c\" tg-width=\"640\" tg-height=\"364\" referrerpolicy=\"no-referrer\"/></p><p>TipRanks, Ryan Brinkman, October 21</p><p>I am not saying Ryan is wrong this time either - &#34;past performance is no guarantee of future performance&#34; applies in reverse as well, let us not forget that. However, I am skeptical about FCF as a driver for determining Tesla&#39;s intrinsic value - it is much more correct to look at multiples and their compression over time. The current state of the company&#39;s valuation is more in line with JPMorgan than BofA or MS - given the increasing risks of Tesla losing its 50% growth rate in 2023 and 2024, I think we are in for a bumpy ride, and the only opportunity for buy-and-hold investors, if you consider yourself one, is to hedge.</p><p>GLJ Research - the numbers TSLA reports are LIKELY NOT REAL [October 20]</p><p>One risk that has long been talked about and is unlikely to be taken seriously by experts is the possibility of falsified reporting. More and more people keep doubting that Tesla can grow such volumes based on sub-ten percent OPEX and CAPEX growth (you may have noticed that this was one of Morgan Stanley&#39;s bullish arguments).</p><p>Gordon Johnson from GLJ Research - ranked by Bloomberg among the top stock pickers in the steel, iron ore, graphite electrode, electric vehicle, and solar spaces since initiating coverage in 2008 - writes, that with 2 of its 4 plants operating at just ~10% capacity, TSLA&#39;s gross margins expansion from 25.0% to 26.61% (per Bloomberg) is not possible.</p><blockquote>In short, we believe the numbers TSLA reports are largely &#34;fiction,&#34; resulting from aggressive accounting applied via the Shanghai plant, among other &#34;tricks&#34; used. And, given modeling numbers that are &#34;fiction&#34; is impossible, this time (i.e., for 3Q22), we aren’t going to even try (we see LARGE incentive for E. Musk to be as aggressive as possible, from an accounting perspective, given he has ~$15B-$20B worth of shares still left to sell to close the Twitter buyout... by our calculation). That is, using one example of TSLA&#39;s many accounting shenanigans, while pretty much every other automaker includes R&amp;D in the gross profit they report, TSLA pushes this metric below the gross profit line, allowing it to claim industry leading margins; yet, when adjusting R&amp;D out of COGS for TSLA, TSLA’s margins rank 11th among global automakers according to Bloomberg.</blockquote><blockquote>Source: Gordon Johnson from GLJ Research</blockquote><p><img src=\"https://static.tigerbbs.com/88b14d65af952a9e91fd7bf618a44557\" tg-width=\"640\" tg-height=\"594\" referrerpolicy=\"no-referrer\"/></p><p>Bloomberg, GLJ Research</p><p>Mr. Johnson warns us - demand today is quite meager on all fronts, as evidenced by the company&#39;s own preliminary statistics and official government sources:</p><p><img src=\"https://static.tigerbbs.com/bdab92dd02be42cc98d2eea0f9b03473\" tg-width=\"640\" tg-height=\"115\" referrerpolicy=\"no-referrer\"/></p><p>GLJ Research LLC</p><p>GLJ Research&#39;s analysts give 5 reasons to believe TSLA is artificially boosting its revenue numbers:</p><ol><li>Revenues up 56% (YoY) amid expenses up only 2% (YoY);</li><li>CAPEX is flat (YoY) when construction of Berlin and Austin is done, which seems impossible. TSLA may be capitalizing more expenses than it should on the balance sheet, thus possibly overstating margins;</li><li>TSLA&#39;s SG&amp;A is still running at $1B/qtr, roughly the same as two years ago, despite selling 2x as many cars;</li><li>Gross margins staying up with 2 new factories open, making just a fraction of their vehicle capacity;</li><li>Inventory is up 98% (YoY) while sales up 56%. Inventory should keep pace with sales, not outpace it - unless you capitalize raw materials for inventory which you can&#39;t move and don&#39;t impair so as not to take a profit hit.</li></ol><p><img src=\"https://static.tigerbbs.com/c0ba728f76aeae0a3d1f51a7d7769e2e\" tg-width=\"640\" tg-height=\"124\" referrerpolicy=\"no-referrer\"/></p><p>GLJ Research LLC</p><p>All this looks strange, but it looks even stranger that no one can clearly refute these arguments that support TSLA&#39;s balance sheet fraud. If you can - I am really interested, please share your take in the comments.</p><p><b>Bottom Line</b></p><p>In this article, I took a closer look at the banks&#39; recent analysis and reaction to Tesla&#39;s latest quarterly report. After reading and analyzing everything I had on hands, and also examining the banks&#39; methods of calculating their price targets, I conclude that JPM has come closest to the truth with a reasonable estimate of the multiple and margin contractions over the next 5 years.</p><p>Yes, JPM&#39;s history of &#34;sell&#34; ratings looks depressing - but what if they are right this time? What if Tesla is actually fudging its books to inflate margins and boost net income above consensus?</p><p>The risks to the company are increasing, and while I do not think Tesla is going to repeat Enron&#39;s story, I understand those who think Tesla is an overvalued company. However, it is far from the only company in the market, nor is it the most overvalued. Given the support from retail investors, and assuming that the company&#39;s operational growth continues (if it is a reality), I believe that long-term investors need to hedge against growing risks anyway. Methods can vary - selling puts, pair trading ideas like the one I wrote about earlier, tactical positioning, etc. Waiting and watching as the price is exposed to the consequences of multiple contractions - which are logical today - does not look optimal, in my view.</p><p><i>This time, I rate Tesla stock as Hold.</i></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>Tesla: Accounting And Valuation Concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: Accounting And Valuation Concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-24 11:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4548158-tesla-accounting-and-valuation-concerns><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryIn this article, I analyze recent reports from banks that have updated their price targets for Tesla stock since the release of Q3 results.BofA and Morgan Stanley are overly optimistic, in my ...</p>\n\n<a href=\"https://seekingalpha.com/article/4548158-tesla-accounting-and-valuation-concerns\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4548158-tesla-accounting-and-valuation-concerns","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133583383","content_text":"SummaryIn this article, I analyze recent reports from banks that have updated their price targets for Tesla stock since the release of Q3 results.BofA and Morgan Stanley are overly optimistic, in my view, while JPMorgan seems closest to reality.GLJ Research's analysts give you 5 reasons to believe TSLA is artificially boosting its revenue numbers.Waiting and watching as the price is exposed to the consequences of multiple contractions - which are logical today - does not look optimal, in my view.This time, I rate Tesla stock as Hold.IntroductionIn late June 2022, I posted a pair trade idea in which I recommended buying Tesla, Inc. (NASDAQ:TSLA) and selling Lucid Group, Inc. (LCID) stock short (in equal dollar amounts). My pitch was simple enough. Both companies look overvalued in terms of absolute multiples. Still, due to more efficient operational growth, Tesla should have experienced a much less noticeable multiple contraction than Lucid while receiving much more support from retail investors.A few months have passed since then. The S&P 500 (SPX) fell even lower, dragging the rest of the market with it, including the companies mentioned above. But my thesis was justified - the difference in the magnitude of the declines in TSLA and LCID would bring a potential investor +22.9% (gross, before deducting brokerage commissions for shorting LCID):Seeking Alpha, Ycharts, author's notesAt the time, I recommended holding this deal until the end of the year. However, in my article today, I want to look at the recent banks' equity research reports on Tesla's financial results. Let us take a look at them and try to assess how logical their forecasts and conclusions are and whether they should be trusted.Bank of America - 3Q results look pretty good to us – first take [October 19]Analysts John Murphy, CFA, John P. Babcock, and Federico Merendi reiterated a Neutral rating on Tesla with a price objective (PO) of $325 per share - that's 3.17% higher than their previous PO of $315.Moreover, BofA said much the same thing as I did when I put forward my thesis in June - TSLA's self-funding status is a notable advantage over some startup competitors in the electric car space, but because its valuation is the result of optimistic projections for a long future (recall the 50% growth target), it will be quite difficult for the quotes to grow strongly in the near future.However, why did the bank raise its TSLA price target anyway? The issue is how the actual results differed from what analysts had expected from the company:BofA, TSLA report, October 19I can understand why the analysts were wrong in forecasting gross profit - the variance seems negligible. But to be wrong on operating expenses (OPEX) by 15% and on taxes by 38.8%? If Tesla really is not just faking its books - we will get into that later - but is working as we see in the statements, then the company's operating efficiency makes one sit up and take notice because even top analysts could not imagine how Elon Musk could save so much on OPEX this quarter.BofA values the company using EV/Sales and EV/EBITDA multiples, but $325/share is too optimistic a target in my opinion. Let us look at their logic. BofA analysts expect EV/EBITDA to be 41x in 2022, down 37.1% from 2021. At the same time, EBITDA growth will be 59.2% in 2022. This is such a sharp decline in the multiple against the backdrop of such a high growth rate in the underlying financial metric. In 2023, however, EBITDA is expected to grow by only 7% - many times less than in the previous year. However, the analysts' forecast includes a much less modest contraction of 6.6% in 2023, which is not in line with the trend of recent years:BofA, TSLA report, with author's calculations and notesIn my view, the EV/EBITDA multiple in 2023 should be at least 30x, if not lower, if the multiple contraction continues - and it should, given lower growth forecasts and a generally higher interest rate environment - implying a 27% reduction in the multiple from 2022 to 2023. At EBITDA of $19.916 billion in 2023 (BofA's estimate), enterprise value should be about $600 billion - that's 5.5% below the current one.Morgan Stanley - 3Q Margins Beat, But FY23 Outlook Still at Risk [October 19]AnalystsAdam Jonas, CFA, Evan Silverberg, CFA, CPA, et al. released an update of their Overweight rating, having $350 per share as a new price objective - below its pre-split target of $1300(about $433 per share).Morgan Stanley, like BofA, was wrong about growth in OPEX, interest expense, and stock-based compensation. The company's lower-than-expected CAPEX coupled with stronger EPS growth resulted in a 153.6% undervaluation of FCF:MS, TSLA report, October 19The key takeaways from their analysis of TSLA's report:expected cost inflation related to logistics/shipping as well as adverse timing differences related to supplier payments given significant input cost inflation on the battery and non-battery side. That didn't happen;If one were to inflation adjust the YoY moves in CAPEX and OPEX, Tesla's clearly doing more with less;Supercharging revenue will most likely get above 10% of Tesla's total revenue within the next 12 to 18 months;Production is ramping up at the 40-GWh Megapack factory in California - a solid win for the company, demonstrating its strength and focus on the battery front.Okay, but why did analysts lower their TSLA price target?Here you have to look at the input data for their SOTP 6-component model:MS, TSLA report, October 19Our PT of $433 is comprised of 6 components:(1)$203/share for core Tesla Auto business on 8.6mm units in 2030, 8.5% WACC, 15x 2030 exit EBITDA multiple, exit EBITDA margin of 20%.(2)Tesla Mobility at $25 on DCF with ~500k cars at $1.7/mile by 2030.(3)Tesla as a 3rd party supplier at $44/share.4)Energy at $37/share,5)Insurance at $12/share, &6)Network Services at $113, 25mm MAUs, $100 ARPU by 2030, 20% discount.Source: Investing.com, author's adjustment for the split (3:1)Segment / DateJun 16, 2022(rounded)NowChangeCore Tesla Auto business$203$287Tesla Mobility$25$221.4%3rd party supplier$44$27-38.2%Energy$37$31-16.2%Insurance$12$8-35.1%Network Services$113$75-33.4%Sum Of The Parts$433$4504.6%Source: Author's compilationIf you add up all the parts of the analysts' outputs, it shows that their SOTP model does indeed show a price target of $453 per share - I suspect that the Morgan Stanley analysts mistyped their report and wrote $287 instead of $187 because the difference is exactly $100 while the WACC is higher and the sales volume is lower than before. Here's how the above table should most likely look like:Segment / DateJun 16, 2022 (rounded)NowChangeCore Tesla Auto business$203$187-7.7%Tesla Mobility$25$221.4%3rd party supplier$45$27-38.2%Energy$37$31-16.2%Insurance$12$8-35.1%Network Services$113$75-33.4%Sum Of The Parts$433$350-18.5%Source: Author's compilationIf you look at how the analysts' assumptions have changed, we see only 3 concrete changes here: 1) the number of vehicles produced in 2030 is now reduced by 0.9 million units (-10.5%); 2) the WACC is increased by 0.2% (8.7% vs. 8.5%); and 3) the exit EBITDA margin is increased from 20% to 21%. This applies directly to the main revenue stream (Core Tesla Auto business) - the assumptions for the other parts are not disclosed (I assume the WACC has been applied to them as well, considering that Tesla Mobility's DCF has decreased by 12.5% without any visible adjustments in inputs).That is, broadly speaking, the entire decline in the target price (the top rightmost column above) is due to A) a slight slowdown in operations, and B) a slight 0.2% increase in WACC. At the same time, a new, more positive improvement in business margins has by no means kept the target price for TSLA from correcting. In my opinion, the WACC was not raised high enough by analysts and should have been raised by more than 1% instead of 0.2%. Why do I think so?First, the analysts had to account for higher betas, that mostly increased since their previous call (June 16, 2022):Data by YChartsHigher beta - higher WACC. Of course, it is possible that they took a 3-year coefficient, but then it would be cherry-picking. It is unlikely that the Morgan Stanley analysts did this (I really hope so).The second is the rising risk-free rate, which mostly corresponds to 10-year Treasuries yield, which (theoretically) have no credit risk. The rate has risen since June 15, 2022, from 3.292% to 4.274% at the time of writing. Effective 7-10 year yields on corporate bonds have jumped even higher since then:Data by YChartsThe third point that analysts may not have taken into account in their WACC calculation is the slowdown in economic growth in China and globally, which should have been reflected in the discount rate in the form of an additional premium. Since mid-June 2022, the geopolitical situation in the world has only gotten worse (in my opinion), and the forecast for global economic growth was just recently lowered by the IMF. Therefore, this premium should have been larger, if it was included in their calculations at all.IMF, author's notesIf a minor 0.2% increase in WACC has led to such severe corrections in price targets for the company's various businesses, imagine how long the analysts' model should run - apparently they predict all segments to 2030, using huge growth rates in their models. Even a slight deviation from these rates will cause the model to collapse. In my opinion, this is a serious risk for those who want to rely on the DCF calculations of Morgan Stanley's analysts.JPMorgan - Trim Estimates and Price Target After Softer Trend in 3Q Volume & Pricing [October 20]AnalystsRyan Brinkman, Rajat Gupta, CFA, Manasvi Garg, et al. stick to an oppositional opinion concerning the other two banks above. They are Underweight Tesla with a price target of $150/share, revised down from $153/share, having the following reasoning:We are lowering our estimates and price target after Tesla reported modestly softer than expected 3Q22 results Wednesday after the close, featuring lower-than-consensus margin on lower-than-expected revenue. Average transaction prices rose strongly y/y, but to a level that was lower than expected, driving a -3% revenue miss given that deliveries were previously disclosed. The results will likely add to debates about demand destruction that ensued after 3Q deliveries tracked -5% below company-compiled consensus. Management itself reined in near-term growth expectations, now looking for just less than its original target of more than +50% unit growth this year vs. previous indication only that the target would be more difficult to achieve. We continue to see risk to guidance for +50% annual unit volume growth over time (in some years more, in some years less), including given higher prices, higher interest rates, an increasingly tapped-out consumer, and given the paucity of new model introductions, with Tesla's lineup essentially the same as at the start of 2021 after the last Model S & X refresh, with the Cybertruck (originally slated for 2021) still on tap. Automotive gross margin of 26.8% missed Bloomberg consensus of 27.7%, with management citing persistent inflationary pressures, including higher logistics costs. We remain cautious on valuation, particularly in the context of lofty unit volume growth expectations, and continue to see material downside risk to our December 2023 price target, which declines today to $150 from $153, on account of unchanged target multiples applied to our slightly lower estimates, which decline primarily on flow-through of 3Q's softer-than-expected trend in demand expressed in the form of lower transaction prices.Source: JPMorgan's TSLA report, October 20Their price target methodology is less sophisticated than Morgan Stanley's one (and more reasonable, in my opinion, than that of BofA) and is predicated upon a 50/50 blend of DCF and 2025E-based multiples analysis (itself a blend of P/E, EV/EBITDA, and price-to-sales).And if you take a look at JPM's Key Figures table, theirs seem much more realistic - at least the analysts take into account a more reasonable multiple and margin contractions as Tesla expands its business and matures:JPMorgan, TSLA report, October 20They propose to focus on equal weighting of 3 coefficients to find fair value (50% of the model) and DCF calculations for the remaining half. If they had focused solely on DCF, they would have received $129 per share on exit - and against a backdrop of rapidly growing FCF. However, FCF-based valuation has shown in practice how indifferent the market is to it concerning Tesla - just take a look at the stock rating history from Ryan Brinkman, the lead author of the above JPM report:TipRanks, Ryan Brinkman, October 21I am not saying Ryan is wrong this time either - \"past performance is no guarantee of future performance\" applies in reverse as well, let us not forget that. However, I am skeptical about FCF as a driver for determining Tesla's intrinsic value - it is much more correct to look at multiples and their compression over time. The current state of the company's valuation is more in line with JPMorgan than BofA or MS - given the increasing risks of Tesla losing its 50% growth rate in 2023 and 2024, I think we are in for a bumpy ride, and the only opportunity for buy-and-hold investors, if you consider yourself one, is to hedge.GLJ Research - the numbers TSLA reports are LIKELY NOT REAL [October 20]One risk that has long been talked about and is unlikely to be taken seriously by experts is the possibility of falsified reporting. More and more people keep doubting that Tesla can grow such volumes based on sub-ten percent OPEX and CAPEX growth (you may have noticed that this was one of Morgan Stanley's bullish arguments).Gordon Johnson from GLJ Research - ranked by Bloomberg among the top stock pickers in the steel, iron ore, graphite electrode, electric vehicle, and solar spaces since initiating coverage in 2008 - writes, that with 2 of its 4 plants operating at just ~10% capacity, TSLA's gross margins expansion from 25.0% to 26.61% (per Bloomberg) is not possible.In short, we believe the numbers TSLA reports are largely \"fiction,\" resulting from aggressive accounting applied via the Shanghai plant, among other \"tricks\" used. And, given modeling numbers that are \"fiction\" is impossible, this time (i.e., for 3Q22), we aren’t going to even try (we see LARGE incentive for E. Musk to be as aggressive as possible, from an accounting perspective, given he has ~$15B-$20B worth of shares still left to sell to close the Twitter buyout... by our calculation). That is, using one example of TSLA's many accounting shenanigans, while pretty much every other automaker includes R&D in the gross profit they report, TSLA pushes this metric below the gross profit line, allowing it to claim industry leading margins; yet, when adjusting R&D out of COGS for TSLA, TSLA’s margins rank 11th among global automakers according to Bloomberg.Source: Gordon Johnson from GLJ ResearchBloomberg, GLJ ResearchMr. Johnson warns us - demand today is quite meager on all fronts, as evidenced by the company's own preliminary statistics and official government sources:GLJ Research LLCGLJ Research's analysts give 5 reasons to believe TSLA is artificially boosting its revenue numbers:Revenues up 56% (YoY) amid expenses up only 2% (YoY);CAPEX is flat (YoY) when construction of Berlin and Austin is done, which seems impossible. TSLA may be capitalizing more expenses than it should on the balance sheet, thus possibly overstating margins;TSLA's SG&A is still running at $1B/qtr, roughly the same as two years ago, despite selling 2x as many cars;Gross margins staying up with 2 new factories open, making just a fraction of their vehicle capacity;Inventory is up 98% (YoY) while sales up 56%. Inventory should keep pace with sales, not outpace it - unless you capitalize raw materials for inventory which you can't move and don't impair so as not to take a profit hit.GLJ Research LLCAll this looks strange, but it looks even stranger that no one can clearly refute these arguments that support TSLA's balance sheet fraud. If you can - I am really interested, please share your take in the comments.Bottom LineIn this article, I took a closer look at the banks' recent analysis and reaction to Tesla's latest quarterly report. After reading and analyzing everything I had on hands, and also examining the banks' methods of calculating their price targets, I conclude that JPM has come closest to the truth with a reasonable estimate of the multiple and margin contractions over the next 5 years.Yes, JPM's history of \"sell\" ratings looks depressing - but what if they are right this time? What if Tesla is actually fudging its books to inflate margins and boost net income above consensus?The risks to the company are increasing, and while I do not think Tesla is going to repeat Enron's story, I understand those who think Tesla is an overvalued company. However, it is far from the only company in the market, nor is it the most overvalued. Given the support from retail investors, and assuming that the company's operational growth continues (if it is a reality), I believe that long-term investors need to hedge against growing risks anyway. Methods can vary - selling puts, pair trading ideas like the one I wrote about earlier, tactical positioning, etc. Waiting and watching as the price is exposed to the consequences of multiple contractions - which are logical today - does not look optimal, in my view.This time, I rate Tesla stock as Hold.","news_type":1},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9999937362,"gmtCreate":1660448111959,"gmtModify":1676533472808,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9999937362","repostId":"1110057750","repostType":4,"repost":{"id":"1110057750","pubTimestamp":1660446286,"share":"https://ttm.financial/m/news/1110057750?lang=&edition=fundamental","pubTime":"2022-08-14 11:04","market":"us","language":"en","title":"Alibaba Stock: Follow Masayoshi Son, Not Charlie Munger","url":"https://stock-news.laohu8.com/highlight/detail?id=1110057750","media":"seekingalpha","summary":"SummaryI explain why investors should not repeat the mistakes of Charlie Munger - it is better to fo","content":"<html><head></head><body><p>Summary</p><ul><li>I explain why investors should not repeat the mistakes of Charlie Munger - it is better to follow Softbank&#39;s CEO, Masayoshi Son.</li><li>Mr. Son has decided to reduce his stake in Alibaba from 23.7% to 14.6% - in my opinion, this may create headwinds for BABA in the medium term.</li><li>Investors shouldn&#39;t be fooled by Alibaba&#39;s &#34;low multiples&#34; but to take a broader look at this company and consider all the risks involved.</li><li>Based on a fairly optimistic DCF model, there is a downside of 14% for Alibaba stock.</li><li>The desire to follow the example of Masayoshi Son rather than Charlie Munger seems more logical to me.</li></ul><p>Introduction &amp; Thesis</p><p>On March 24, 2020, Bloomberg wrote about Softbank CEO Masayoshi Son&#39;s plans to sell $14 billion worth of Alibaba shares (NYSE:BABA) to shore up the bank&#39;s businesses, which had been battered by the coronavirus pandemic. This was not the first news of attempts by Masayoshi Son, who was one of the first investors in BABA in 2000, to get rid of the company&#39;s shares - according to a press release from the bank, derivative tradeshave been made since 2016. However, $14 billion in 2020 was quite a large amount, and in the medium term, BABA shares began to correct more than the main benchmarks:</p><p><img src=\"https://static.tigerbbs.com/96b0ceefb3d3bed3af27a07fdd9d3a81\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Now we see that Softbank faced the problem of deflating the bubble in high-growth companies after the Corona crisis, and will now further reduce its stake in Alibaba stock (from the current 23.7% to 14.6% after settling $34 billion in prepaid forward contracts).</p><p>As from the very beginning of my coverage of Alibaba stock here on Seeking Alpha, I still believe that investors should not follow on the heels of Charlie Munger - there are too many risks in buying this stock, both geopolitical (U.S.-China tensions, Taiwan) and economic (China&#39;s GDP growth slowdown and housing crisis). The pressure on BABA&#39;s quotes is likely to continue due to these two factors, and Softbank&#39;s sale of forward contracts for such a large amount may add to the headwinds for shareholders.</p><p>Masayoshi Son vs. Charlie Munger</p><p>One of the most frequently cited arguments for buying BABA after its phenomenal &gt;50% off high dip is the fact that one of the most famous Western investors, Charlie Munger, bought and held the stock. According to the 13-F filings by his Daily Journal Corp, the 98-year-old investor began buying BABA in the first quarter of 2021 and gradually increased his position throughout 2021 (from 165,320 shares in the first quarter to 602,060 shares in the fourth quarter) until he decided to sell half of the position in the first quarter of 2022 and has not touched BABA since (which is interpreted by some as a bullish sign).</p><p>In my subjective opinion, a 50% reduction of BABA&#39;s position in Daily Journal Corp. in the first quarter is already a sign of Mr. Munger&#39;s capitulation, as this act is not typical of his position in BofA (BAC) or Wells Fargo (WFC) - compare the position size as of the last reporting date [link above] with the portfolio at the end of 2013 to see for yourself.</p><p>Concerning the unchanged amount of BABA shares in the last reporting quarter, it should be noted that other positions have also remained unchanged - Munger has simply decided not to buy or sell anything. The great investor of the 20th century will likely continue to get rid of his position in Alibaba stock, in my view, if the risks in China escalate. Remember what he said about Russian stocks many years ago (emphasis added):</p><blockquote>When asked about Russia, Charlie Munger, Warren Buffett’s partner at Berkshire Hathaway (BRK.A) (BRK.B), harrumphed: &#34;<i>We don’t invest in kleptocracies.</i>&#34; One investor famously declared after the market’s meltdown in 1998: &#34;I’d rather eat nuclear waste than invest in Russia.&#34;</blockquote><blockquote>[Source]</blockquote><p>If you have been buying BABA solely on Munger&#39;s moves, then I must warn you: if you look at the performance of his Daily Journal Corp [based on Fintel data from 13-Fs], he has not been able to boast of excessive returns for many years:</p><p><img src=\"https://static.tigerbbs.com/f172b8f0ac1e4673cf5741f21754470d\" tg-width=\"640\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><b>Important note:</b>the reported value (RV) above should not be used as a substitute for Assets Under Management (AUM), as it does not include cash held in accounts.However, RV depletion is also an important criterion to consider.</p><p>I think the risks of investing in the Chinese market are becoming more evident every year. While the country&#39;s GDP grew 6-10% annually from the early 1990s until the pandemic began, these risks were ignored by many Western investors. We saw it even more positively when the Chinese GDP began to recover sharply after the 2020 lockdowns. Now, however, the prospects for similar growth rates are vague, as the real estate market, which has largely allowed China to report huge GDP growth rates in the past, is highly leveraged and in crisis, and the country&#39;s overall population is likely to start shrinking due to the low birth rate (which largely precludes the growth of the economy extensively).</p><blockquote>As recently as 2019 the China Academy of Social Sciences expected the population to peak in 2029, at 1.44 billion. The 2019 United Nations Population Prospects report expected the peak later still, in 2031-32, at 1.46 billion.</blockquote><blockquote>The Shanghai Academy of Social Sciences team predicts an annual average decline of 1.1% after 2021, pushing China&#39;s population down to 587 million in 2100, less than half of what it is today.</blockquote><blockquote>[Source]</blockquote><p>The accumulated problems of the Chinese regime drive Xi to continue trying to expand his sole power, because at first glance it seems more reliable to keep everything in one hand. Given the level of corruption in the country, we are dealing with a kleptocratic state - the reason why Munger avoided investing in Russia after 1998.</p><p>Aside from Masayoshi Son being forced to sell his shares in Alibaba, I think Softbank would have dumped its high stake in the company anyway, feeling the pressure from the Communist Party.</p><p>Exactly one year ago, Nikkei Asia published an article citing Son as to how he sees the pressure on China&#39;s tech sector.</p><blockquote>&#34;I strongly believe that China&#39;s AI technology and business model will continue to innovate,&#34; Son said in a news conference. &#34;However, in investment activities, various new regulations have begun, so I want to wait and see what kind of regulations are implemented and what kind of impact they have on the stock market.&#34;</blockquote><blockquote>[Source]</blockquote><p>A year later, he waited, looked around, and decided to reduce his stake in Alibaba from 23.7% to 14.6%.</p><p>This is a smart move that is not about flooding the market with shares all at once - under the terms of the forward contract, Mr. Son will have the right to buy back his BABA shares. However, it is unlikely that he will do so - in any case, we have not seen this happen since 2016. So, in the coming months, there will be a greater supply of Alibaba shares on the market, which will put additional pressure on prices against the backdrop of geopolitical and macroeconomic risks specific to China.</p><p>The company&#39;s financial profile doesn&#39;t help</p><p>The low multiples that made BABA&#39;s stock seem undervalued compared to U.S. tech giants have gotten even lower over the past six months - in line with the stock price:</p><p><img src=\"https://static.tigerbbs.com/a100fa0a41ade258d26db19f27c2313b\" tg-width=\"1280\" tg-height=\"826\" referrerpolicy=\"no-referrer\"/>However, it turned out that this underestimation was evidence of the value trap - the slowdown in economic growth and regulatory problems were making themselves felt. Margins continued their downward trend, and the ratio of EBITDA to sales did not return to the level seen before COVID.</p><p><img src=\"https://static.tigerbbs.com/ceb0944814657934f262b18db7db4ec2\" tg-width=\"1280\" tg-height=\"852\" referrerpolicy=\"no-referrer\"/>Sales and earnings growth did not improve as investors expected, so the denominators for most valuation metrics became smaller than the numerators - Seeking Alpha&#39;s factor grade system changed the valuation metric in a negative direction for the company:</p><p>Readers will rightly wonder why the &#34;Profitability&#34; criterion is still rated &#34;A+&#34; against a backdrop of declining business margins and less than stellar ROE / ROA / ROIC indicators. The answer to this question lies in the elements of this criterion - the company&#39;s cash flow from operations (CFO) is the only reason for this superiority over the rest of the sector:</p><p><img src=\"https://static.tigerbbs.com/9f0ad942e9b19cfbee3de08d1b1b2009\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/98d0b575ede1cd3f09a1e124dd313777\" tg-width=\"360\" tg-height=\"300\" referrerpolicy=\"no-referrer\"/>Indeed, in the Internet and direct marketing retail industry, of which Alibaba is a part, only 58.62% of companies have a positive CFO. Such companies have a CFO to TTM ratio of 7% (median), while BABA has a similar ratio of 17%, making it a true cash cow. However, for a cash cow, the margin of safety of BABA is highly controversial in terms of DCF modeling:</p><p><img src=\"https://static.tigerbbs.com/e33ef5864117b63096db2166e004e764\" tg-width=\"594\" tg-height=\"557\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Even with a fairly optimistic discount rate (10% is low given the risks for the Chinese tech giant) and a very generous assumption of a 15% growth rate over the next 10 years (which is already not the case), there is a downside of 14%, even when adding the tangible book value to the final share price.</p><p>Of course, I could be wrong and the listing of BABA&#39;s shares on the Hong Kong Stock Exchange will create additional demand from investors in mainland China, but it&#39;s not entirely clear what U.S. investors with their ADRs will actually get out of it.</p><p>From this, I conclude that investors shouldn&#39;t be fooled by Alibaba&#39;s &#34;low multiples&#34; but to take a broader look at this company and consider all the risks involved. Then, the desire to follow the example of Masayoshi Son rather than Charlie Munger seems more logical to me.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Stock: Follow Masayoshi Son, Not Charlie Munger</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\">\nAlibaba Stock: Follow Masayoshi Son, Not Charlie Munger\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-14 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4533003-alibaba-stock-follow-masayoshi-son-not-charlie-munger?source=apple_sign_in&source=apple_sign_in><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryI explain why investors should not repeat the mistakes of Charlie Munger - it is better to follow Softbank's CEO, Masayoshi Son.Mr. Son has decided to reduce his stake in Alibaba from 23.7% to ...</p>\n\n<a href=\"https://seekingalpha.com/article/4533003-alibaba-stock-follow-masayoshi-son-not-charlie-munger?source=apple_sign_in&source=apple_sign_in\">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","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4533003-alibaba-stock-follow-masayoshi-son-not-charlie-munger?source=apple_sign_in&source=apple_sign_in","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1110057750","content_text":"SummaryI explain why investors should not repeat the mistakes of Charlie Munger - it is better to follow Softbank's CEO, Masayoshi Son.Mr. Son has decided to reduce his stake in Alibaba from 23.7% to 14.6% - in my opinion, this may create headwinds for BABA in the medium term.Investors shouldn't be fooled by Alibaba's \"low multiples\" but to take a broader look at this company and consider all the risks involved.Based on a fairly optimistic DCF model, there is a downside of 14% for Alibaba stock.The desire to follow the example of Masayoshi Son rather than Charlie Munger seems more logical to me.Introduction & ThesisOn March 24, 2020, Bloomberg wrote about Softbank CEO Masayoshi Son's plans to sell $14 billion worth of Alibaba shares (NYSE:BABA) to shore up the bank's businesses, which had been battered by the coronavirus pandemic. This was not the first news of attempts by Masayoshi Son, who was one of the first investors in BABA in 2000, to get rid of the company's shares - according to a press release from the bank, derivative tradeshave been made since 2016. However, $14 billion in 2020 was quite a large amount, and in the medium term, BABA shares began to correct more than the main benchmarks:Now we see that Softbank faced the problem of deflating the bubble in high-growth companies after the Corona crisis, and will now further reduce its stake in Alibaba stock (from the current 23.7% to 14.6% after settling $34 billion in prepaid forward contracts).As from the very beginning of my coverage of Alibaba stock here on Seeking Alpha, I still believe that investors should not follow on the heels of Charlie Munger - there are too many risks in buying this stock, both geopolitical (U.S.-China tensions, Taiwan) and economic (China's GDP growth slowdown and housing crisis). The pressure on BABA's quotes is likely to continue due to these two factors, and Softbank's sale of forward contracts for such a large amount may add to the headwinds for shareholders.Masayoshi Son vs. Charlie MungerOne of the most frequently cited arguments for buying BABA after its phenomenal >50% off high dip is the fact that one of the most famous Western investors, Charlie Munger, bought and held the stock. According to the 13-F filings by his Daily Journal Corp, the 98-year-old investor began buying BABA in the first quarter of 2021 and gradually increased his position throughout 2021 (from 165,320 shares in the first quarter to 602,060 shares in the fourth quarter) until he decided to sell half of the position in the first quarter of 2022 and has not touched BABA since (which is interpreted by some as a bullish sign).In my subjective opinion, a 50% reduction of BABA's position in Daily Journal Corp. in the first quarter is already a sign of Mr. Munger's capitulation, as this act is not typical of his position in BofA (BAC) or Wells Fargo (WFC) - compare the position size as of the last reporting date [link above] with the portfolio at the end of 2013 to see for yourself.Concerning the unchanged amount of BABA shares in the last reporting quarter, it should be noted that other positions have also remained unchanged - Munger has simply decided not to buy or sell anything. The great investor of the 20th century will likely continue to get rid of his position in Alibaba stock, in my view, if the risks in China escalate. Remember what he said about Russian stocks many years ago (emphasis added):When asked about Russia, Charlie Munger, Warren Buffett’s partner at Berkshire Hathaway (BRK.A) (BRK.B), harrumphed: \"We don’t invest in kleptocracies.\" One investor famously declared after the market’s meltdown in 1998: \"I’d rather eat nuclear waste than invest in Russia.\"[Source]If you have been buying BABA solely on Munger's moves, then I must warn you: if you look at the performance of his Daily Journal Corp [based on Fintel data from 13-Fs], he has not been able to boast of excessive returns for many years:Important note:the reported value (RV) above should not be used as a substitute for Assets Under Management (AUM), as it does not include cash held in accounts.However, RV depletion is also an important criterion to consider.I think the risks of investing in the Chinese market are becoming more evident every year. While the country's GDP grew 6-10% annually from the early 1990s until the pandemic began, these risks were ignored by many Western investors. We saw it even more positively when the Chinese GDP began to recover sharply after the 2020 lockdowns. Now, however, the prospects for similar growth rates are vague, as the real estate market, which has largely allowed China to report huge GDP growth rates in the past, is highly leveraged and in crisis, and the country's overall population is likely to start shrinking due to the low birth rate (which largely precludes the growth of the economy extensively).As recently as 2019 the China Academy of Social Sciences expected the population to peak in 2029, at 1.44 billion. The 2019 United Nations Population Prospects report expected the peak later still, in 2031-32, at 1.46 billion.The Shanghai Academy of Social Sciences team predicts an annual average decline of 1.1% after 2021, pushing China's population down to 587 million in 2100, less than half of what it is today.[Source]The accumulated problems of the Chinese regime drive Xi to continue trying to expand his sole power, because at first glance it seems more reliable to keep everything in one hand. Given the level of corruption in the country, we are dealing with a kleptocratic state - the reason why Munger avoided investing in Russia after 1998.Aside from Masayoshi Son being forced to sell his shares in Alibaba, I think Softbank would have dumped its high stake in the company anyway, feeling the pressure from the Communist Party.Exactly one year ago, Nikkei Asia published an article citing Son as to how he sees the pressure on China's tech sector.\"I strongly believe that China's AI technology and business model will continue to innovate,\" Son said in a news conference. \"However, in investment activities, various new regulations have begun, so I want to wait and see what kind of regulations are implemented and what kind of impact they have on the stock market.\"[Source]A year later, he waited, looked around, and decided to reduce his stake in Alibaba from 23.7% to 14.6%.This is a smart move that is not about flooding the market with shares all at once - under the terms of the forward contract, Mr. Son will have the right to buy back his BABA shares. However, it is unlikely that he will do so - in any case, we have not seen this happen since 2016. So, in the coming months, there will be a greater supply of Alibaba shares on the market, which will put additional pressure on prices against the backdrop of geopolitical and macroeconomic risks specific to China.The company's financial profile doesn't helpThe low multiples that made BABA's stock seem undervalued compared to U.S. tech giants have gotten even lower over the past six months - in line with the stock price:However, it turned out that this underestimation was evidence of the value trap - the slowdown in economic growth and regulatory problems were making themselves felt. Margins continued their downward trend, and the ratio of EBITDA to sales did not return to the level seen before COVID.Sales and earnings growth did not improve as investors expected, so the denominators for most valuation metrics became smaller than the numerators - Seeking Alpha's factor grade system changed the valuation metric in a negative direction for the company:Readers will rightly wonder why the \"Profitability\" criterion is still rated \"A+\" against a backdrop of declining business margins and less than stellar ROE / ROA / ROIC indicators. The answer to this question lies in the elements of this criterion - the company's cash flow from operations (CFO) is the only reason for this superiority over the rest of the sector:Indeed, in the Internet and direct marketing retail industry, of which Alibaba is a part, only 58.62% of companies have a positive CFO. Such companies have a CFO to TTM ratio of 7% (median), while BABA has a similar ratio of 17%, making it a true cash cow. However, for a cash cow, the margin of safety of BABA is highly controversial in terms of DCF modeling:Even with a fairly optimistic discount rate (10% is low given the risks for the Chinese tech giant) and a very generous assumption of a 15% growth rate over the next 10 years (which is already not the case), there is a downside of 14%, even when adding the tangible book value to the final share price.Of course, I could be wrong and the listing of BABA's shares on the Hong Kong Stock Exchange will create additional demand from investors in mainland China, but it's not entirely clear what U.S. investors with their ADRs will actually get out of it.From this, I conclude that investors shouldn't be fooled by Alibaba's \"low multiples\" but to take a broader look at this company and consider all the risks involved. Then, the desire to follow the example of Masayoshi Son rather than Charlie Munger seems more logical to me.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9076923210,"gmtCreate":1657774910930,"gmtModify":1676536060471,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076923210","repostId":"1170105164","repostType":4,"repost":{"id":"1170105164","pubTimestamp":1657767549,"share":"https://ttm.financial/m/news/1170105164?lang=&edition=fundamental","pubTime":"2022-07-14 10:59","market":"us","language":"en","title":"3 Warning Signs From the 9.1% Red-Hot Inflation Report—and 3 Signs of Real Hope","url":"https://stock-news.laohu8.com/highlight/detail?id=1170105164","media":"Fortune","summary":"U.S. inflation came in hotter than expected in June as Americans continued to grapple with sky-high ","content":"<html><head></head><body><p>U.S. inflation came in hotter than expected in June as Americans continued to grapple with sky-high gas prices and soaring rent costs.</p><p>The consumer price index (CPI) rose at a 9.1% annual rate last month, the Labor Department reported on Wednesday. That marks the largest annual increase in the popular inflation gauge since November 1981.</p><p>The latest numbers blew past expectations, as economists on Wall Street had projected an 8.8% annual jump.</p><p>While some investment banks thought inflation would hit its peak months ago, consumer prices have remained elevated in the U.S., and the recent downturn in commodity prices and the cooling housing market have yet to be reflected in CPI data.</p><p>“Peak inflation will have to wait,” Rusty Vanneman, the chief investment strategist at Orion Advisor Solutions, told Fortune. “While there are some hopeful signs that we’re getting close to the peak in the inflation growth rate, such as lower commodity prices, we likely won’t see the actual peak for months, if not until early next year.”</p><p>The rising cost of living for Americans in June leaves the Federal Reserve on track for another interest rate hike at their next Federal Open Market Committee (FOMC) meeting later this month. So far this year, the Fed has increased rates three times in an attempt to cool the economy and combat inflation, but some experts are now calling for an even more aggressive stance.</p><p>“The Fed is still behind the curve, even after a few rate hikes this year and the start of its balance sheet reduction plans,” Nancy Davis, the founder of Quadratic Capital Management, told Fortune.</p><p>Quincy Krosby, the chief equity strategist at LPL Financial, went so far as to argue that a 1% rate hike could be in the cards for the Fed this month after June’s red-hot inflation reading. And Bill Adams, the chief economist at Comerica Bank, noted that “a full percentage point increase looks likelier than a half percentage point one.”</p><p>The latest CPI data has some economists worried that inflation could prove to be a more persistent issue than the Fed is anticipating, but others argue that there are positive signs that indicate consumer prices could fall through the second half of the year.</p><p>Here’s the bad news about the latest numbers, but also some positive signs that inflation could be near its peak.</p><h2>3 warning signs</h2><h3>High headline and services inflation</h3><p>Headline inflation, which unlike core inflation includes volatile food and energy prices, came in well above economists’ expectations in June.</p><p>The European energy crisis, which has been exacerbated by the ongoing war in Ukraine and subsequent western sanctions, has thrown global energy markets into chaos in recent months.</p><p>As a result, energy prices surged 41.6% year over year in June, with gasoline prices rising 60% compared to a year ago, and electricity costs jumping 13.7% over the same period. That pushed headline inflation well above economists’ estimates.</p><p>The headline inflation data also revealed a disturbing trend for services inflation. For months now, economists have been talking about an ongoing rotation from goods spending to services spending as Americans get back to their summer travel plans with COVID-19 restrictions fading.</p><p>In June, we saw the rotation economists were expecting, but unfortunately, the increased services spending is leading to inflation in the sector that could prove to have more staying power.</p><p>&#34;Today’s print blew past expectations, but the worst element of it is that, as predicted, services inflation is really picking up now to match goods inflation,” Stephen Miran, the cofounder of Amberwave Partners and a former senior adviser for economic policy at the Department of the Treasury, told Fortune. “Services inflation tends to be a lot stickier and requires a recession to bring it down. We might not see services inflation back in a comfortable zone until 2024.&#34;</p><p>Services inflation, excluding energy services, rose 0.7% in June, up from 0.6% in May, and now stands at a 5.5% annual rate. Airfares were a major leader in the sector, with prices rising 34.6% from a year ago.</p><h3>Broad-based inflation and the soaring cost of rent</h3><p>Inflation in June was also very broad-based, with core CPI, which excludes volatile food and energy prices, rising 5.9% compared to a year ago. Economists on Wall Street were expecting a 5.7% jump.</p><p>The major driver of core inflation was shelter costs, which represent roughly one-third of CPI.</p><p>Shelter costs jumped 5.6% from a year ago in June, after rising just 1.7% in the previous three months combined. Quadratic Capital Management’s Nancy Davis says there could be more room for shelter costs to rise moving forward as well, given the jump in home prices over the past year.</p><p>“Is there anything in the U.S. whose price has increased by that little in the past quarter? Does that seem even close to an accurate number to anyone familiar with rental costs?” Davis said of the latest shelter CPI data. “For perspective, the S&amp;P/Case-Shiller National Home Price Index is up about 20% year over year. We would expect some difference between the CPI ‘shelter’ number and the Case-Shiller Index. One measures rent and the other the value of single-family housing. But a difference of 400%? Someone is way off.”</p><h3>Persistent food inflation and a big risk for stock investors</h3><p>Food inflation also continued to be an issue in June, with the food index rising 10.4% compared to a year ago. Food-at-home costs have now jumped by at least 1% for six straight months.</p><p>Curt Covington, the senior director of partner relations at AgAmerica, America’s largest nonbank agricultural lending firm, told Fortune that unless energy and commodity prices fall substantially, food inflation will continue to be an issue.</p><p>“The biggest impact affecting the agriculture sector, apart from rising interest rates, is inflation in the energy sector and the rising prices of input costs. Increased input costs cut into the already thin revenue margins for the farmer and the additional costs are then passed along to the consumer,” he said. “While the Fed is doing what they can, I anticipate that inflationary pressure won’t ease until sometime next year.”</p><p>David Russell, VP of market intelligence at the online securities and futures brokerage firm TradeStation Group, also told Fortune that this latest CPI reading is a “big risk for stocks.”</p><p>“Wall Street is already expecting the slowest profit growth since late 2020, so the mood could remain pretty grim with results due in the coming weeks,” he said.</p><h2><img src=\"https://static.tigerbbs.com/f28a7aac4a4f4f2cc6be85ebe1af4c98\" tg-width=\"705\" tg-height=\"470\" width=\"100%\" height=\"auto\"/>A few positives</h2><h3>Gas prices are driving inflation—and they’ve been coming down</h3><p>There were some bright spots in June’s inflation reading, however.</p><p>First, gas prices were a major contributor to CPI last month, but prices at the pump have come down from highs of over $5 per gallon in June to just $4.63 as of Wednesday, AAA data shows.</p><p>President Biden said in a statement on Wednesday that while inflation remains “unacceptably high,” the latest CPI data is also “out-of-date,” because it measures price increases that have already happened.</p><p>“Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June,” he said.</p><h3>A global, not local, phenomenon</h3><p>Secondly, inflation remains a global issue. Countries around the world are experiencing rising consumer prices due to the ongoing war in Ukraine, COVID-19 lockdowns, and deglobalization, not just the U.S.</p><p>Inflation in Argentina topped 60% in May, according to the country&#39;s INDEC statistics agency. And economists surveyed by the country’s central bank forecast a nearly 73% annual inflation rate by the end of the year, Bloomberg reported in June.</p><p>But not only the countries that have typically dealt with high inflation are seeing price increases.</p><p>Inflation in the U.K. also hit a 40-year high in May, rising at a 9.1% annual rate. And euroarea annual inflation is expected to top 8.6% in June. Even Japan, which has historically dealt with deflation, is seeing consumer price increases become an issue of late.</p><h3>Some positive expert predictions</h3><p>Not every economist or Wall Street analyst is predicting doom and gloom when it comes to inflation.</p><p>Amberwave Partners’ Stephen Miran said that he expects “core goods inflation to come down to earth” in the months ahead. He pointed to rising inventories at retailers, which will lead to stockpiles of electrical components and other goods, as a key to the incoming reduction of price pressures.</p><p>And Mark Haefele, the chief investment officer at UBS Global Wealth Management, said in a Wednesday note that he believes inflation will begin to fall in the coming months.</p><p>“We continue to think inflation will start returning to more normal levels, averting the need for a further hawkish turn in monetary policy,” he said. “This process, however, will be gradual, and inflation will likely remain above the Fed’s 2% target for some time to come.”</p><p>Finally, Jay Hatfield, chief executive officer at Infrastructure Capital Management, told Fortune that he expects the strong U.S. dollar will help to push commodity prices lower in the second half of the year, leading inflation to fall.</p><p>“We forecast that this print will mark the peak of inflation as the Fed&#39;s 15% shrinkage of the monetary base, which is the fastest decline since the Great Depression, will curb inflation,” he said.</p></body></html>","source":"lsy1618285953446","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Warning Signs From the 9.1% Red-Hot Inflation Report—and 3 Signs of Real Hope</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Warning Signs From the 9.1% Red-Hot Inflation Report—and 3 Signs of Real Hope\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-14 10:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fortune.com/2022/07/13/inflation-3-warning-signs-red-hot-cpi-data/><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. inflation came in hotter than expected in June as Americans continued to grapple with sky-high gas prices and soaring rent costs.The consumer price index (CPI) rose at a 9.1% annual rate last ...</p>\n\n<a href=\"https://fortune.com/2022/07/13/inflation-3-warning-signs-red-hot-cpi-data/\">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://fortune.com/2022/07/13/inflation-3-warning-signs-red-hot-cpi-data/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170105164","content_text":"U.S. inflation came in hotter than expected in June as Americans continued to grapple with sky-high gas prices and soaring rent costs.The consumer price index (CPI) rose at a 9.1% annual rate last month, the Labor Department reported on Wednesday. That marks the largest annual increase in the popular inflation gauge since November 1981.The latest numbers blew past expectations, as economists on Wall Street had projected an 8.8% annual jump.While some investment banks thought inflation would hit its peak months ago, consumer prices have remained elevated in the U.S., and the recent downturn in commodity prices and the cooling housing market have yet to be reflected in CPI data.“Peak inflation will have to wait,” Rusty Vanneman, the chief investment strategist at Orion Advisor Solutions, told Fortune. “While there are some hopeful signs that we’re getting close to the peak in the inflation growth rate, such as lower commodity prices, we likely won’t see the actual peak for months, if not until early next year.”The rising cost of living for Americans in June leaves the Federal Reserve on track for another interest rate hike at their next Federal Open Market Committee (FOMC) meeting later this month. So far this year, the Fed has increased rates three times in an attempt to cool the economy and combat inflation, but some experts are now calling for an even more aggressive stance.“The Fed is still behind the curve, even after a few rate hikes this year and the start of its balance sheet reduction plans,” Nancy Davis, the founder of Quadratic Capital Management, told Fortune.Quincy Krosby, the chief equity strategist at LPL Financial, went so far as to argue that a 1% rate hike could be in the cards for the Fed this month after June’s red-hot inflation reading. And Bill Adams, the chief economist at Comerica Bank, noted that “a full percentage point increase looks likelier than a half percentage point one.”The latest CPI data has some economists worried that inflation could prove to be a more persistent issue than the Fed is anticipating, but others argue that there are positive signs that indicate consumer prices could fall through the second half of the year.Here’s the bad news about the latest numbers, but also some positive signs that inflation could be near its peak.3 warning signsHigh headline and services inflationHeadline inflation, which unlike core inflation includes volatile food and energy prices, came in well above economists’ expectations in June.The European energy crisis, which has been exacerbated by the ongoing war in Ukraine and subsequent western sanctions, has thrown global energy markets into chaos in recent months.As a result, energy prices surged 41.6% year over year in June, with gasoline prices rising 60% compared to a year ago, and electricity costs jumping 13.7% over the same period. That pushed headline inflation well above economists’ estimates.The headline inflation data also revealed a disturbing trend for services inflation. For months now, economists have been talking about an ongoing rotation from goods spending to services spending as Americans get back to their summer travel plans with COVID-19 restrictions fading.In June, we saw the rotation economists were expecting, but unfortunately, the increased services spending is leading to inflation in the sector that could prove to have more staying power.\"Today’s print blew past expectations, but the worst element of it is that, as predicted, services inflation is really picking up now to match goods inflation,” Stephen Miran, the cofounder of Amberwave Partners and a former senior adviser for economic policy at the Department of the Treasury, told Fortune. “Services inflation tends to be a lot stickier and requires a recession to bring it down. We might not see services inflation back in a comfortable zone until 2024.\"Services inflation, excluding energy services, rose 0.7% in June, up from 0.6% in May, and now stands at a 5.5% annual rate. Airfares were a major leader in the sector, with prices rising 34.6% from a year ago.Broad-based inflation and the soaring cost of rentInflation in June was also very broad-based, with core CPI, which excludes volatile food and energy prices, rising 5.9% compared to a year ago. Economists on Wall Street were expecting a 5.7% jump.The major driver of core inflation was shelter costs, which represent roughly one-third of CPI.Shelter costs jumped 5.6% from a year ago in June, after rising just 1.7% in the previous three months combined. Quadratic Capital Management’s Nancy Davis says there could be more room for shelter costs to rise moving forward as well, given the jump in home prices over the past year.“Is there anything in the U.S. whose price has increased by that little in the past quarter? Does that seem even close to an accurate number to anyone familiar with rental costs?” Davis said of the latest shelter CPI data. “For perspective, the S&P/Case-Shiller National Home Price Index is up about 20% year over year. We would expect some difference between the CPI ‘shelter’ number and the Case-Shiller Index. One measures rent and the other the value of single-family housing. But a difference of 400%? Someone is way off.”Persistent food inflation and a big risk for stock investorsFood inflation also continued to be an issue in June, with the food index rising 10.4% compared to a year ago. Food-at-home costs have now jumped by at least 1% for six straight months.Curt Covington, the senior director of partner relations at AgAmerica, America’s largest nonbank agricultural lending firm, told Fortune that unless energy and commodity prices fall substantially, food inflation will continue to be an issue.“The biggest impact affecting the agriculture sector, apart from rising interest rates, is inflation in the energy sector and the rising prices of input costs. Increased input costs cut into the already thin revenue margins for the farmer and the additional costs are then passed along to the consumer,” he said. “While the Fed is doing what they can, I anticipate that inflationary pressure won’t ease until sometime next year.”David Russell, VP of market intelligence at the online securities and futures brokerage firm TradeStation Group, also told Fortune that this latest CPI reading is a “big risk for stocks.”“Wall Street is already expecting the slowest profit growth since late 2020, so the mood could remain pretty grim with results due in the coming weeks,” he said.A few positivesGas prices are driving inflation—and they’ve been coming downThere were some bright spots in June’s inflation reading, however.First, gas prices were a major contributor to CPI last month, but prices at the pump have come down from highs of over $5 per gallon in June to just $4.63 as of Wednesday, AAA data shows.President Biden said in a statement on Wednesday that while inflation remains “unacceptably high,” the latest CPI data is also “out-of-date,” because it measures price increases that have already happened.“Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June,” he said.A global, not local, phenomenonSecondly, inflation remains a global issue. Countries around the world are experiencing rising consumer prices due to the ongoing war in Ukraine, COVID-19 lockdowns, and deglobalization, not just the U.S.Inflation in Argentina topped 60% in May, according to the country's INDEC statistics agency. And economists surveyed by the country’s central bank forecast a nearly 73% annual inflation rate by the end of the year, Bloomberg reported in June.But not only the countries that have typically dealt with high inflation are seeing price increases.Inflation in the U.K. also hit a 40-year high in May, rising at a 9.1% annual rate. And euroarea annual inflation is expected to top 8.6% in June. Even Japan, which has historically dealt with deflation, is seeing consumer price increases become an issue of late.Some positive expert predictionsNot every economist or Wall Street analyst is predicting doom and gloom when it comes to inflation.Amberwave Partners’ Stephen Miran said that he expects “core goods inflation to come down to earth” in the months ahead. He pointed to rising inventories at retailers, which will lead to stockpiles of electrical components and other goods, as a key to the incoming reduction of price pressures.And Mark Haefele, the chief investment officer at UBS Global Wealth Management, said in a Wednesday note that he believes inflation will begin to fall in the coming months.“We continue to think inflation will start returning to more normal levels, averting the need for a further hawkish turn in monetary policy,” he said. “This process, however, will be gradual, and inflation will likely remain above the Fed’s 2% target for some time to come.”Finally, Jay Hatfield, chief executive officer at Infrastructure Capital Management, told Fortune that he expects the strong U.S. dollar will help to push commodity prices lower in the second half of the year, leading inflation to fall.“We forecast that this print will mark the peak of inflation as the Fed's 15% shrinkage of the monetary base, which is the fastest decline since the Great Depression, will curb inflation,” he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032544894,"gmtCreate":1647409964580,"gmtModify":1676534226506,"author":{"id":"3581852672614632","authorId":"3581852672614632","name":"ChunHui","avatar":"https://static.tigerbbs.com/bc47341688d5ff26c7994db9a3a6f6ac","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581852672614632","authorIdStr":"3581852672614632"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032544894","repostId":"2219220927","repostType":4,"repost":{"id":"2219220927","pubTimestamp":1647399932,"share":"https://ttm.financial/m/news/2219220927?lang=&edition=fundamental","pubTime":"2022-03-16 11:05","market":"us","language":"en","title":"Everyone Is Expecting A Crash, Or Stagflation, So It's Happening - That's Not How It Works","url":"https://stock-news.laohu8.com/highlight/detail?id=2219220927","media":"seekingalpha","summary":"Dzmitry Dzemidovich/iStock via Getty ImagesThe CrashI was chatting with a friend down in Florida, an","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/28319f61011d69850e7ae4256381ed8f\" tg-width=\"750\" tg-height=\"375\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Dzmitry Dzemidovich/iStock via Getty Images</p><h2><b>The Crash</b></h2><p>I was chatting with a friend down in Florida, and knowing my favorite topic is the stock market, he asked me what did I think of the crash. I wasn’t sure what he meant, he added the stock market crash, what did I think? The question took the notion that the market is going to crash as received wisdom. He was asking what I thought the ramifications would be. I said that I didn’t think there would be a crash. That was met with a bit of awkward silence. Other conversations this weekend with friends and acquaintances yielded a certainty that inflation will be intractable and will be a persistent feature of the economic landscape for years to come. I don’t agree, I may have underestimated how long inflation news would persist, but I believe that inflation will begin to recede in mid-May, certainly, none of these conditions portends a crash.</p><p>Crashes happen when no <a href=\"https://laohu8.com/S/AONE.U\">one</a> is expecting them. That everyone is talking about millionaires who were first in into whatever fad everyone is convinced will never go down. The most recent that comes to mind is the teenage crypto millionaires. I am not claiming that crypto is about to crash, just using it as an example. When no one believes the stock markets (or real estate and yes Bitcoin) can EVER crash that is when it really hits hard. This may sound familiar to the older folk who’ve lived through the housing bubble, or dot com bubble. If not let me familiarize you with the phenomenon. Everyone and his brother is in the market including your cab driver. Pretty soon everyone is buying in and sure they will be millionaires. It’s at that point that the market has run out of buyers, that&#39;s when a &#34;crash&#34; happens. The catalyst doesn’t matter right now, It’s like setting up dominoes standing up in a long row, even the tiniest touch on the first one can create a huge chain reaction. If everyone is already “All In” and maybe even leveraged the only thing to do is sell. That is how a crash happens.</p><h2><b>Here it is the complete opposite, everyone is pushing the notion of a crash</b></h2><p>Everyone is talking about a bear market, the economy is going into a recession, why? Take your pick. The market is running out of steam. No! The economy is overheating and Powell is behind the curve on inflation! He must raise interest rates 200-300 basis points, and then he’ll cause a recession by overtightening. Have you noticed that these two opposing notions are punted in the same conversation? Let’s get this straight, a recession means the economy has slowed so much that it is falling. Officially, economists count an economy in recession if there are 2 quarters with negative growth. While inflation is usually a result of the market growing TOO FAST. So naturally the purveyors of hot air resort to using stagflation, which encompasses both zero growth AND inflation. This conflation is gaining a lot of currency as those who promote the notion that stagflation happens all the time. In fact, it is exceedingly rare, rarer than a blue moon. The only time stagflation has ever happened in modern history was when the term was coined, during the Carter administration. Will rising interest rates create more chips? More homes? More cars? No, raising interest rates will slow the demand for those items. I am not against raising interest rates, but even as interest rates are rising that the economy will continue to grow, and supply will return lowering prices. I believe that Powell will not overreact, I still see no evidence to believe otherwise, no matter how many times pundits bring it up.</p><p>Let me try and tie all of this together, 2022 is not the 1970s, Stagflation is a rare thing to the special circumstances of the 1970s. A wage-price hike spiral is very unlikely to happen. Surprisingly or perhaps not, worker wages are the biggest expense and the largest influence on inflation. Remember I said that the 70s had hardly any productivity? That is not at all true today.</p><h2><b>Market sentiment gets super negative when participants’ imaginations are unbound</b></h2><p>A big rule about market behavior is how it hates the unknown. The market will embrace every negative notion and worst-case scenario. The worst-case scenario that is remotely viable in this case is stagflation so that is where the chatter is. For every piece of news, people are inventing new ways to hate the market and convince the person next to them to dump stocks. In a market like this with most people being sellers, it wouldn&#39;t take anything at all positive to create a buying stampede. In this kind of setup</p><h2><b>Let’s be real the last few months have not been all that fun</b></h2><p>Historically 15% down on the S&amp;P is not unusual, even the 20% correction on the Nasdaq is not unusual. You can have episodes like this and not only regain ATH but exceed the all-time high in no time. On the other hand, long-running bear markets start this way. Lucky for us, you can’t have a sustained bear market without a recession, and we aren’t having that. At some point, the market will adjust valuation, create a base and begin to rise again. The market rises about 80% of the time, so without a degrading economy, you may have a momentary fall to the 20% level but are likely to bounce back. That is kind of where we are now, valuations have been adjusted downward, for a laundry list of reasons, Covid, inflation, Putin’s war, Interest hikes that could hit the economy. I admit we have had quite a run of negativity. I also admit that the indexes have not found a support level. However we are getting very close, the forward PE is about 18 times on the S&amp;P, which should be the right valuation even at +2.5% on the 10-year.</p><h2><b>Prediction time</b></h2><p>I am not saying we will take off like a rocket, we had instead very rocky trading last week. I do believe that leading to the Fed announcement we could have some weakness and then a decent pop on the news conference, as I expect Powell to find his dovish voice again. I guess this is another prediction. The reason why I am saying Powell will sound conciliatory is the likelihood of a default of sovereign debt by Russia. This might have a bigger effect on European banks than domestic, the Fed may fear that it might disrupt the liquidity of the US bond market. Our banks have been through all kinds of simulations for years and are not allowed to leverage up anywhere near where banks were in 2007 when we had the housing bubble. This may yet be another reason for the market to sell off when the default is announced perhaps in a week or 2. I think this will be a very good opportunity to confirm that we have finally found that base. Before then I think we get a decent pop from Powell’s performance</p><h2><b>We haven’t achieved a base as yet but definitely have a trading range</b></h2><p>We first touched back to 4200 on the S&amp;P in January, we’ve trading around this level to now. We have been chopping around this level and higher. We are not yet in a downtrend on the S&amp;P. Let’s take a look at the chart.</p><p><img src=\"https://static.tigerbbs.com/b7ec679d2f3edba677a4e17a7b1e8fd9\" tg-width=\"1109\" tg-height=\"581\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>seekingalpha.com</p><p>Well, nothing is screaming at me, but this 4200ish level could be a base. If my prediction is correct, looking at this chart I could see S&amp;P reaching 4300, if we can sustain a rally for more than one day.</p><h2><b>Markets like this take a lot of attention and self-control</b></h2><p>Though it feels very stressful, and not as much fun to be in the market, I require myself to review the facts and still find much to be optimistic regarding prospects for a strong finish to 2022. I could very well envision reaching higher highs (5200+?) before December. Don’t let your emotions get in the way of cutting losers. I won&#39;t say I am perfect on that score, but I try to be aware when I am emotionally overly attached. There&#39;s a fine line between having conviction and being emotionally attached. Trading is like any other high-performance activity, you get to a level where mental strength and self-awareness are just as important to success as technique or tactics. You need those qualities to monitor your mental state and whether you are overly attached to anyone&#39;s position and have the strength to counter that tendency. You must also have the mental strength to maintain conviction to hold a position if you have done the best to vet it from a fundamental side and technical aspect. It takes guts to watch one of your stocks fall further and further and not let it get to you.</p><p>Amazon (AMZN) announced a 1 to 20 split. I predicted this weeks ago. Here is what I think they do next. The week ending February 5th, I wrote in my weekly analysis that AMZN will likely be the next to announce a split. I am basing my speculation on what happens next by who Andrew Jassy is, and also something I thought made a ton of sense years ago, and that is to spin off AWS. AWS is by all rights a very substantial company in its own right and could be worth $750B to 1 Trillion on its own. AWS really has little to do with the rest of AMZN. It just makes a ton of sense for the shareholders to have the company trade separately if only to boost the value of AMZN stock. As you may already know Jassy was the CEO of AWS before he was named CEO of all of AMZN. AWS is the fastest-growing part of AMZN, providing huge cash flow to fund the other parts of AMZN. The split still makes sense, AMZN could hold a special class of stock that gives them a dividend or hive off a huge amount of debt while interest rates are so low. The fact Jassy would see his baby trade as an independent creation is just a bonus. The boost in capitalization via the spin-off and the present value of a huge chunk of change to fund operations for years to come is a good trade-off. Also, the spin-off would lower the heat on the FCC suing them as a monopoly, which would be a huge distraction. The fact that he split the company and announced a buyback after years of not buying shares, tells me that he wants to boost the stock price. If he keeps the buyback as an ongoing program, the AWS is the ultimate move for shareholder value.</p><p>I don’t have a lot of exciting news about new trades. Really my current role right now is to try to manage my current positions and use the volatility to my advantage. So not a lot of visible movement but a lot of watchful waiting. Buying the dip yes, but is this the lowest low? Can the stock go lower? When my positions are green are they high enough to trim shares? That is less fun than falling in love with a new trade.</p><p>stocks can go lower, however, I do believe that the upside at this point for many tech names more than compensates the risk. Why do I harp on tech? Precisely because it has become very unfashionable. Many of the wise men and women have eschewed growth stocks, especially stocks that were the most esteemed only a few months ago. I am a reflexive contrarian, and this year has been building up to be my biggest contrarian play ever.</p><h2><b>My Trades</b></h2><p>First, the bad news was I had a position in DocuSign (DOCU) they announced earnings and revenue that was very good but forward guidance disappointed me. I promptly sold the position at 78 in the aftermarket. I really like the business model, so at some point, once DOCU finally finds support I will try to leg into it. Meanwhile, I will use the funds freed up from this name to buy more Upstart (UPST).</p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> (FB) spent $44.5 billion on share buybacks in 2021 leading the company to repurchase 8.4% of the current market cap. The stock is starting to have solid downside protection. It should continue to buy in shares at the same rate this year. FB recently had a gap down, charting shows that stocks tend to fill in gaps. Let’s take a look at a chart.</p><p><img src=\"https://static.tigerbbs.com/7d09f52f172ecb6b342a2985ee606f74\" tg-width=\"1109\" tg-height=\"581\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>seekingalpha.com</p><p>On Friday FB sold down below 190, I think that is a great level. I already started building a position, I am hoping it allows me to acquire more in the 180s.</p><p>Asana (ASAN) got punished for not projecting profits near term because they want to re-invest. I have a small position in it. I took profits a while ago. I’m going to rebuild the position again, they said they are giving up profits now to add capabilities to the product. I believe the stock will regain some altitude once the market comes back to its senses and reward the forward-thinking. You are supposed to invest in the future. If the CEO had no credibility and the track record of this company was bad I wouldn&#39;t buy in. Instead, it has an exceptional growth pattern, and the stock is on sale.</p><p><a href=\"https://laohu8.com/S/XPO\">XPO Logistics</a>, Inc.(XPO) stock rallied more than 8% in after-market trading on Tuesday after the logistics company announced plans to split itself into two publicly traded companies, a deal it said would be tax-free to shareholders. One of the companies will be one of the largest US companies in the LTL trucking business. The other part would encompass XPO&#39;s freight brokerage business, which matches loads from shipping customers to available trucks to carry them, and the other is its U.S. trucking business. This is essentially a technology adjacent cloud application business. I am very excited to receive this new company. Its European business and North American intermodal operations would be sold. The company said it expects to complete the spin-off in the fourth quarter of 2022, subject to the final approval of the XPO board. In a presentation to shareholders, XPO pegged 2021 revenue from its freight brokerage company at $4.8 billion, and from the trucking business at $4.1 billion. Shares of XPO ended the regular trading day up 2.7%.</p><p><a href=\"https://laohu8.com/S/EXPE\">Expedia</a> (EXPE) Strong revenue growth FCF and mostly domestic travel so less affected by Ukraine. Still, this name has been hammered on every development in Ukraine. I currently have Call options, now I will accumulate the underlying equities.</p><p>Airbnb (ABNB) I think I bought this stock near its bottom, at about 150. I started this position 2 weeks ago and I need to fill this one up. I am hoping to get some in the 140s. I like the reopening related tech companies since Covid is in the rearview mirror.</p><p><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) is another once high flier that has fallen so much that it’s practically a value play. I have been adding to my position under 100, and I plan on continuing to do so this week.</p><p><a href=\"https://laohu8.com/S/DDOG\">Datadog</a> (DDOG) I managed to do a fast money trade with DDOG in the aftermath of its earnings. I started buying it again, and I guess I should have waited even though I started buying at a lower level than the last time. I am pretty confident that DDOG is a quality name.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Everyone Is Expecting A Crash, Or Stagflation, So It's Happening - That's Not How It Works</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\">\nEveryone Is Expecting A Crash, Or Stagflation, So It's Happening - That's Not How It Works\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-16 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4495208-everyone-expecting-crash-stagflatiion-happening-not-how-it-works><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dzmitry Dzemidovich/iStock via Getty ImagesThe CrashI was chatting with a friend down in Florida, and knowing my favorite topic is the stock market, he asked me what did I think of the crash. I wasn’t...</p>\n\n<a href=\"https://seekingalpha.com/article/4495208-everyone-expecting-crash-stagflatiion-happening-not-how-it-works\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","BK4022":"陆运","BK4505":"高瓴资本持仓","BK4561":"索罗斯持仓","DOCU":"Docusign","BK4573":"虚拟现实","BK4581":"高盛持仓","PYPL":"PayPal","DDOG":"Datadog","BK4077":"互动媒体与服务","BK4166":"消费信贷","BK4142":"酒店、度假村与豪华游轮","BK4548":"巴美列捷福持仓","EXPE":"Expedia","UPST":"Upstart Holdings, Inc.","XPO":"XPO Logistics","BK4528":"SaaS概念","BK4106":"数据处理与外包服务","ABNB":"爱彼迎","BK4023":"应用软件","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","AMZN":"亚马逊","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","ASAN":"阿莎娜","BK4525":"远程办公概念","BK4524":"宅经济概念","BK4508":"社交媒体","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4559":"巴菲特持仓","BK4538":"云计算","BK4579":"人工智能","BK4550":"红杉资本持仓"},"source_url":"https://seekingalpha.com/article/4495208-everyone-expecting-crash-stagflatiion-happening-not-how-it-works","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2219220927","content_text":"Dzmitry Dzemidovich/iStock via Getty ImagesThe CrashI was chatting with a friend down in Florida, and knowing my favorite topic is the stock market, he asked me what did I think of the crash. I wasn’t sure what he meant, he added the stock market crash, what did I think? The question took the notion that the market is going to crash as received wisdom. He was asking what I thought the ramifications would be. I said that I didn’t think there would be a crash. That was met with a bit of awkward silence. Other conversations this weekend with friends and acquaintances yielded a certainty that inflation will be intractable and will be a persistent feature of the economic landscape for years to come. I don’t agree, I may have underestimated how long inflation news would persist, but I believe that inflation will begin to recede in mid-May, certainly, none of these conditions portends a crash.Crashes happen when no one is expecting them. That everyone is talking about millionaires who were first in into whatever fad everyone is convinced will never go down. The most recent that comes to mind is the teenage crypto millionaires. I am not claiming that crypto is about to crash, just using it as an example. When no one believes the stock markets (or real estate and yes Bitcoin) can EVER crash that is when it really hits hard. This may sound familiar to the older folk who’ve lived through the housing bubble, or dot com bubble. If not let me familiarize you with the phenomenon. Everyone and his brother is in the market including your cab driver. Pretty soon everyone is buying in and sure they will be millionaires. It’s at that point that the market has run out of buyers, that's when a \"crash\" happens. The catalyst doesn’t matter right now, It’s like setting up dominoes standing up in a long row, even the tiniest touch on the first one can create a huge chain reaction. If everyone is already “All In” and maybe even leveraged the only thing to do is sell. That is how a crash happens.Here it is the complete opposite, everyone is pushing the notion of a crashEveryone is talking about a bear market, the economy is going into a recession, why? Take your pick. The market is running out of steam. No! The economy is overheating and Powell is behind the curve on inflation! He must raise interest rates 200-300 basis points, and then he’ll cause a recession by overtightening. Have you noticed that these two opposing notions are punted in the same conversation? Let’s get this straight, a recession means the economy has slowed so much that it is falling. Officially, economists count an economy in recession if there are 2 quarters with negative growth. While inflation is usually a result of the market growing TOO FAST. So naturally the purveyors of hot air resort to using stagflation, which encompasses both zero growth AND inflation. This conflation is gaining a lot of currency as those who promote the notion that stagflation happens all the time. In fact, it is exceedingly rare, rarer than a blue moon. The only time stagflation has ever happened in modern history was when the term was coined, during the Carter administration. Will rising interest rates create more chips? More homes? More cars? No, raising interest rates will slow the demand for those items. I am not against raising interest rates, but even as interest rates are rising that the economy will continue to grow, and supply will return lowering prices. I believe that Powell will not overreact, I still see no evidence to believe otherwise, no matter how many times pundits bring it up.Let me try and tie all of this together, 2022 is not the 1970s, Stagflation is a rare thing to the special circumstances of the 1970s. A wage-price hike spiral is very unlikely to happen. Surprisingly or perhaps not, worker wages are the biggest expense and the largest influence on inflation. Remember I said that the 70s had hardly any productivity? That is not at all true today.Market sentiment gets super negative when participants’ imaginations are unboundA big rule about market behavior is how it hates the unknown. The market will embrace every negative notion and worst-case scenario. The worst-case scenario that is remotely viable in this case is stagflation so that is where the chatter is. For every piece of news, people are inventing new ways to hate the market and convince the person next to them to dump stocks. In a market like this with most people being sellers, it wouldn't take anything at all positive to create a buying stampede. In this kind of setupLet’s be real the last few months have not been all that funHistorically 15% down on the S&P is not unusual, even the 20% correction on the Nasdaq is not unusual. You can have episodes like this and not only regain ATH but exceed the all-time high in no time. On the other hand, long-running bear markets start this way. Lucky for us, you can’t have a sustained bear market without a recession, and we aren’t having that. At some point, the market will adjust valuation, create a base and begin to rise again. The market rises about 80% of the time, so without a degrading economy, you may have a momentary fall to the 20% level but are likely to bounce back. That is kind of where we are now, valuations have been adjusted downward, for a laundry list of reasons, Covid, inflation, Putin’s war, Interest hikes that could hit the economy. I admit we have had quite a run of negativity. I also admit that the indexes have not found a support level. However we are getting very close, the forward PE is about 18 times on the S&P, which should be the right valuation even at +2.5% on the 10-year.Prediction timeI am not saying we will take off like a rocket, we had instead very rocky trading last week. I do believe that leading to the Fed announcement we could have some weakness and then a decent pop on the news conference, as I expect Powell to find his dovish voice again. I guess this is another prediction. The reason why I am saying Powell will sound conciliatory is the likelihood of a default of sovereign debt by Russia. This might have a bigger effect on European banks than domestic, the Fed may fear that it might disrupt the liquidity of the US bond market. Our banks have been through all kinds of simulations for years and are not allowed to leverage up anywhere near where banks were in 2007 when we had the housing bubble. This may yet be another reason for the market to sell off when the default is announced perhaps in a week or 2. I think this will be a very good opportunity to confirm that we have finally found that base. Before then I think we get a decent pop from Powell’s performanceWe haven’t achieved a base as yet but definitely have a trading rangeWe first touched back to 4200 on the S&P in January, we’ve trading around this level to now. We have been chopping around this level and higher. We are not yet in a downtrend on the S&P. Let’s take a look at the chart.seekingalpha.comWell, nothing is screaming at me, but this 4200ish level could be a base. If my prediction is correct, looking at this chart I could see S&P reaching 4300, if we can sustain a rally for more than one day.Markets like this take a lot of attention and self-controlThough it feels very stressful, and not as much fun to be in the market, I require myself to review the facts and still find much to be optimistic regarding prospects for a strong finish to 2022. I could very well envision reaching higher highs (5200+?) before December. Don’t let your emotions get in the way of cutting losers. I won't say I am perfect on that score, but I try to be aware when I am emotionally overly attached. There's a fine line between having conviction and being emotionally attached. Trading is like any other high-performance activity, you get to a level where mental strength and self-awareness are just as important to success as technique or tactics. You need those qualities to monitor your mental state and whether you are overly attached to anyone's position and have the strength to counter that tendency. You must also have the mental strength to maintain conviction to hold a position if you have done the best to vet it from a fundamental side and technical aspect. It takes guts to watch one of your stocks fall further and further and not let it get to you.Amazon (AMZN) announced a 1 to 20 split. I predicted this weeks ago. Here is what I think they do next. The week ending February 5th, I wrote in my weekly analysis that AMZN will likely be the next to announce a split. I am basing my speculation on what happens next by who Andrew Jassy is, and also something I thought made a ton of sense years ago, and that is to spin off AWS. AWS is by all rights a very substantial company in its own right and could be worth $750B to 1 Trillion on its own. AWS really has little to do with the rest of AMZN. It just makes a ton of sense for the shareholders to have the company trade separately if only to boost the value of AMZN stock. As you may already know Jassy was the CEO of AWS before he was named CEO of all of AMZN. AWS is the fastest-growing part of AMZN, providing huge cash flow to fund the other parts of AMZN. The split still makes sense, AMZN could hold a special class of stock that gives them a dividend or hive off a huge amount of debt while interest rates are so low. The fact Jassy would see his baby trade as an independent creation is just a bonus. The boost in capitalization via the spin-off and the present value of a huge chunk of change to fund operations for years to come is a good trade-off. Also, the spin-off would lower the heat on the FCC suing them as a monopoly, which would be a huge distraction. The fact that he split the company and announced a buyback after years of not buying shares, tells me that he wants to boost the stock price. If he keeps the buyback as an ongoing program, the AWS is the ultimate move for shareholder value.I don’t have a lot of exciting news about new trades. Really my current role right now is to try to manage my current positions and use the volatility to my advantage. So not a lot of visible movement but a lot of watchful waiting. Buying the dip yes, but is this the lowest low? Can the stock go lower? When my positions are green are they high enough to trim shares? That is less fun than falling in love with a new trade.stocks can go lower, however, I do believe that the upside at this point for many tech names more than compensates the risk. Why do I harp on tech? Precisely because it has become very unfashionable. Many of the wise men and women have eschewed growth stocks, especially stocks that were the most esteemed only a few months ago. I am a reflexive contrarian, and this year has been building up to be my biggest contrarian play ever.My TradesFirst, the bad news was I had a position in DocuSign (DOCU) they announced earnings and revenue that was very good but forward guidance disappointed me. I promptly sold the position at 78 in the aftermarket. I really like the business model, so at some point, once DOCU finally finds support I will try to leg into it. Meanwhile, I will use the funds freed up from this name to buy more Upstart (UPST).Meta Platforms (FB) spent $44.5 billion on share buybacks in 2021 leading the company to repurchase 8.4% of the current market cap. The stock is starting to have solid downside protection. It should continue to buy in shares at the same rate this year. FB recently had a gap down, charting shows that stocks tend to fill in gaps. Let’s take a look at a chart.seekingalpha.comOn Friday FB sold down below 190, I think that is a great level. I already started building a position, I am hoping it allows me to acquire more in the 180s.Asana (ASAN) got punished for not projecting profits near term because they want to re-invest. I have a small position in it. I took profits a while ago. I’m going to rebuild the position again, they said they are giving up profits now to add capabilities to the product. I believe the stock will regain some altitude once the market comes back to its senses and reward the forward-thinking. You are supposed to invest in the future. If the CEO had no credibility and the track record of this company was bad I wouldn't buy in. Instead, it has an exceptional growth pattern, and the stock is on sale.XPO Logistics, Inc.(XPO) stock rallied more than 8% in after-market trading on Tuesday after the logistics company announced plans to split itself into two publicly traded companies, a deal it said would be tax-free to shareholders. One of the companies will be one of the largest US companies in the LTL trucking business. The other part would encompass XPO's freight brokerage business, which matches loads from shipping customers to available trucks to carry them, and the other is its U.S. trucking business. This is essentially a technology adjacent cloud application business. I am very excited to receive this new company. Its European business and North American intermodal operations would be sold. The company said it expects to complete the spin-off in the fourth quarter of 2022, subject to the final approval of the XPO board. In a presentation to shareholders, XPO pegged 2021 revenue from its freight brokerage company at $4.8 billion, and from the trucking business at $4.1 billion. Shares of XPO ended the regular trading day up 2.7%.Expedia (EXPE) Strong revenue growth FCF and mostly domestic travel so less affected by Ukraine. Still, this name has been hammered on every development in Ukraine. I currently have Call options, now I will accumulate the underlying equities.Airbnb (ABNB) I think I bought this stock near its bottom, at about 150. I started this position 2 weeks ago and I need to fill this one up. I am hoping to get some in the 140s. I like the reopening related tech companies since Covid is in the rearview mirror.PayPal (PYPL) is another once high flier that has fallen so much that it’s practically a value play. I have been adding to my position under 100, and I plan on continuing to do so this week.Datadog (DDOG) I managed to do a fast money trade with DDOG in the aftermath of its earnings. I started buying it again, and I guess I should have waited even though I started buying at a lower level than the last time. I am pretty confident that DDOG is a quality name.","news_type":1},"isVote":1,"tweetType":1,"viewCount":12,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}