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SPY: How Would A Recession Impact The S&P 500 Outlook?
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16:24","market":"us","language":"en","title":"SPY: How Would A Recession Impact The S&P 500 Outlook?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191721961","media":"Seeking Alpha","summary":"SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.Tha","content":"<html><head></head><body><h2>Summary</h2><ul><li>Investors may be surprised by what past recessions can tell us about stock market returns.</li><li>That is, if we can agree on the definition of a recession.</li><li>Macro issues aside, I believe that now is a good time to be buying stocks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e6de7f0fab0e6bb37cdb11d688fb5d1\" tg-width=\"1080\" tg-height=\"796\" referrerpolicy=\"no-referrer\"/><span>DNY59</span></p><h2>Thesis</h2><p>Whether there is a recession or not, stocks look reasonably valued today and the S&P 500 (NYSEARCA:SPY) should continue to perform well in the long term.</p><h2>What Is A Recession?</h2><p>The official definition of a recession has been thetopic of much debate lately. Many refer to a recession as two or more consecutive quarters of negative GDP growth, a requirement which was already met in Q1 and Q2 of 2022.</p><p>However, others argue that in addition to (or instead of) negative GDP growth, a recession must be characterized by a sustained period of economic decline, with a broad impact reaching areas like trade, manufacturing, and labor. For example, most people consider the period from February-March 2020 a recession, even though it was less than two quarters.</p><p>Recessions are temporary, and thus the semantics of a recession are not all that important to long-term investors. But it's worth noting that there has been a clear correlation between recessions and the labor market, which has not held today.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e244cd5d88e7efe563b9a11bbbd69704\" tg-width=\"640\" tg-height=\"235\" referrerpolicy=\"no-referrer\"/><span>FRED</span></p><p>The shaded areas in the above chart are past recessions, and we can see that each shaded area is accompanied by a steep rise in unemployment. The inverse also holds: each steep rise in unemployment is accompanied by a recession. Since the current labor market has remained strong, at least through August, it's safe to say that at least one element of a traditional recession is missing.</p><p>That doesn't mean a recession won't come in short order, as the Fed continues to hike rates and many companies recently lowered or suspended guidance citing macro issues. If we begin seeing massive layoffs, then it's safe to say that we're probably entering a recession.</p><p>If that does happen, what's the outlook on the S&P 500? Let's take a look.</p><h2>Historical Recessions</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e196047db513bc62f32b6e7fe7e2b966\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"/><span>Yahoo Finance</span></p><p>As shown in the above chart from Yahoo Finance, the median peak-to-trough decline of the S&P 500 during a recession is -24%, and because there were a few particularly bad recessions the mean is higher at a -29% decline. The full range of declines goes from -14% to -57%, so there's quite a range of outcomes here, but it's clear that investors should expect negative stock market returns surrounding a recession.</p><p>This year, SPY peaked at $479.98 and fell to $357.04. That's a 25.6% decline, meaning that at least by this metric, investors have already priced in a historically average recession.</p><p>Considering that the labor market and other signals remain strong, some argue that investors have been too quick to sell stocks and that a rebound is likely on the way. On the other hand, others argue that the current crash started from a record high P/E ratio and that the macro picture looks worse than it has in years, meaning that there's potentially more room to fall.</p><p>I won't hazard a guess as to who's right because macro issues are very difficult to predict. However, even for those who are (foolishly) very confident that they know exactly what will happen with the economy, the more important question is what impact will that have on the stock market?</p><p>You may think that the chart I shared above answers that question. However, it shows a peak-to-trough decline, which is distinct from the stock market returns during an actual recession because the peak-to-trough decline may start before and/or end after the recession. Here are the market's returns during the actual months of the recessions in the above chart:</p><table><tbody><tr><td><b>Recession</b></td><td><b>SPY Return</b></td></tr><tr><td>Nov-48:Oct-49</td><td>11%</td></tr><tr><td>Jul-53:May-54</td><td>25%</td></tr><tr><td>Aug-57:Apr-58</td><td>-5%</td></tr><tr><td>Apr-60:Feb-61</td><td>18%</td></tr><tr><td>Dec-69:Nov-70</td><td>3%</td></tr><tr><td>Nov-73:Mar-75</td><td>-24%</td></tr><tr><td>Jan-80:Jul-80</td><td>0%</td></tr><tr><td>Jul-81:Nov-82</td><td>6%</td></tr><tr><td>Jul-90:Mar-91</td><td>13%</td></tr><tr><td>Mar-01:Nov-01</td><td>-9%</td></tr><tr><td>Dec-07:Jun-09</td><td>-39%</td></tr><tr><td>Feb-20:Mar-20</td><td>-24%</td></tr><tr><td><b>Average</b></td><td><b>-2%</b></td></tr><tr><td><b>Median</b></td><td><b>2%</b></td></tr></tbody></table><p>Source: The Author</p><p>The key point here is that markets typically price in a recession before it actually happens and begin to price it out before it's actually over. With a range of during-recession returns from -39% to +25%, it's safe to say that whether or not we are currently in a recession has historically had little to no predictable impact on SPY returns. You probably shouldn't bet on great returns during a recession, but they're also not out of the question.</p><h2>Best Course For Investors</h2><p>At Tech Investing Edge, we invest with a 10+ year time horizon and don't attempt to time the market based on whether we're in a recession or other factors. Hopefully, the previous sections have made it clear why that's my preferred strategy. In this section, I'll share a few charts about why I think that now is a good time to increase exposure to stocks, through SPY or individual stock picks.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e196047db513bc62f32b6e7fe7e2b966\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"/><span>Yahoo Finance</span></p><p>This is the same chart I shared in the previous section. A key point that I didn't discuss yet is the performance 1 year after the market bottoms, and 2 years after the market bottoms. Investors buying at the market bottom will on average see 40% returns after one year and 54% returns after two years. Those are some of the best returns you'll ever find with SPY, and it's again worth noting that the start of those returns will likely happen before the recession is over, if we even get a recession in the first place. Even if investors lump sum into the market now and it continues to sell off with Covid crash extremes (-34%), they'll on average still be looking at nicely positive returns within the next couple years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48970cb98595a3c00b76cfcea64bead8\" tg-width=\"640\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/><span>Current Market Valuation</span></p><p>The next data point is the S&P 500's historical P/E ratio. Today, SPY has a P/E of 18 and a forward P/E ratio of 16. The modern era market average is a P/E of 20, while the average going back to 1870 is 16. Either way, the current P/E ratio is within one standard deviation of the average, meaning that stocks are within a range that would be considered fairly valued based on historical standards. That holds true even if analyst estimates for earnings growth are wrong and we don't see any earnings growth for the next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1fe698a5c07dfcf88b263624c52a6404\" tg-width=\"640\" tg-height=\"358\" referrerpolicy=\"no-referrer\"/><span>Morningstar Equity Research</span></p><p>Another data point shows the price vs. fair value estimate based on Morningstar's DCF valuation for the many stocks in their coverage universe. Morningstar is a respected analyst firm. We can see that stocks are currently very undervalued according to their valuation model, in fact more undervalued than they were during the Covid crash or 2018 panic. Investors would have to go back to the 2011 Greece debt crisis in the aftermath of the Great Financial Crisis to find another time when Morningstar thought stocks were as undervalued as they are today. As we all know, stocks have been on an incredible bull run since 2011.</p><p>Key assumptions that Morningstar makes include the Fed tightening cycle ending this year and inflation subsiding in 2023. These are somewhat bold assumptions at this point, but there is also the best margin of safety in over a decade if the assumptions prove incorrect.</p><p>At my Marketplace service on Seeking Alpha, Tech Investing Edge, I cover a smaller universe of about 30 stocks that I think represent some of the best long-term investing opportunities. My price targets today estimate an average upside of 73%, which is the highest level since I started the service earlier this year. Thus, my own valuation model for the companies I cover aligns well with Morningstar's.</p><h2>Conclusion</h2><p>Stock market bears have had a great time this year, and many will try to tell you with certainty that SPY will continue going lower until the P/E falls to 15, until inflation subsides, until the war in Ukraine is over, until the recession is over, until the Fed pivots, or until a variety of other conditions are met.</p><p>I hope that this article provided multiple data points to show that nobody knows for sure what markets will do in the near future, even if you're of the belief that a recession is inevitable or already happening. Investors should still prepare themselves for more volatility and potentially more negative returns as the market searches for a bottom and digests the currently poor economic environment.</p><p>However, risk-tolerant investors should consider increasing their exposure to stocks through SPY or individual stock picks, as the market has bounced back after each past recession and will likely bounce back after this one as well. Often, that bounce comes sooner than many market participants expect.</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>SPY: How Would A Recession Impact The S&P 500 Outlook?</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\">\nSPY: How Would A Recession Impact The S&P 500 Outlook?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-06 16:24 GMT+8 <a href=https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.That is, if we can agree on the definition of a recession.Macro issues aside, I believe that now is a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191721961","content_text":"SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.That is, if we can agree on the definition of a recession.Macro issues aside, I believe that now is a good time to be buying stocks.DNY59ThesisWhether there is a recession or not, stocks look reasonably valued today and the S&P 500 (NYSEARCA:SPY) should continue to perform well in the long term.What Is A Recession?The official definition of a recession has been thetopic of much debate lately. Many refer to a recession as two or more consecutive quarters of negative GDP growth, a requirement which was already met in Q1 and Q2 of 2022.However, others argue that in addition to (or instead of) negative GDP growth, a recession must be characterized by a sustained period of economic decline, with a broad impact reaching areas like trade, manufacturing, and labor. For example, most people consider the period from February-March 2020 a recession, even though it was less than two quarters.Recessions are temporary, and thus the semantics of a recession are not all that important to long-term investors. But it's worth noting that there has been a clear correlation between recessions and the labor market, which has not held today.FREDThe shaded areas in the above chart are past recessions, and we can see that each shaded area is accompanied by a steep rise in unemployment. The inverse also holds: each steep rise in unemployment is accompanied by a recession. Since the current labor market has remained strong, at least through August, it's safe to say that at least one element of a traditional recession is missing.That doesn't mean a recession won't come in short order, as the Fed continues to hike rates and many companies recently lowered or suspended guidance citing macro issues. If we begin seeing massive layoffs, then it's safe to say that we're probably entering a recession.If that does happen, what's the outlook on the S&P 500? Let's take a look.Historical RecessionsYahoo FinanceAs shown in the above chart from Yahoo Finance, the median peak-to-trough decline of the S&P 500 during a recession is -24%, and because there were a few particularly bad recessions the mean is higher at a -29% decline. The full range of declines goes from -14% to -57%, so there's quite a range of outcomes here, but it's clear that investors should expect negative stock market returns surrounding a recession.This year, SPY peaked at $479.98 and fell to $357.04. That's a 25.6% decline, meaning that at least by this metric, investors have already priced in a historically average recession.Considering that the labor market and other signals remain strong, some argue that investors have been too quick to sell stocks and that a rebound is likely on the way. On the other hand, others argue that the current crash started from a record high P/E ratio and that the macro picture looks worse than it has in years, meaning that there's potentially more room to fall.I won't hazard a guess as to who's right because macro issues are very difficult to predict. However, even for those who are (foolishly) very confident that they know exactly what will happen with the economy, the more important question is what impact will that have on the stock market?You may think that the chart I shared above answers that question. However, it shows a peak-to-trough decline, which is distinct from the stock market returns during an actual recession because the peak-to-trough decline may start before and/or end after the recession. Here are the market's returns during the actual months of the recessions in the above chart:RecessionSPY ReturnNov-48:Oct-4911%Jul-53:May-5425%Aug-57:Apr-58-5%Apr-60:Feb-6118%Dec-69:Nov-703%Nov-73:Mar-75-24%Jan-80:Jul-800%Jul-81:Nov-826%Jul-90:Mar-9113%Mar-01:Nov-01-9%Dec-07:Jun-09-39%Feb-20:Mar-20-24%Average-2%Median2%Source: The AuthorThe key point here is that markets typically price in a recession before it actually happens and begin to price it out before it's actually over. With a range of during-recession returns from -39% to +25%, it's safe to say that whether or not we are currently in a recession has historically had little to no predictable impact on SPY returns. You probably shouldn't bet on great returns during a recession, but they're also not out of the question.Best Course For InvestorsAt Tech Investing Edge, we invest with a 10+ year time horizon and don't attempt to time the market based on whether we're in a recession or other factors. Hopefully, the previous sections have made it clear why that's my preferred strategy. In this section, I'll share a few charts about why I think that now is a good time to increase exposure to stocks, through SPY or individual stock picks.Yahoo FinanceThis is the same chart I shared in the previous section. A key point that I didn't discuss yet is the performance 1 year after the market bottoms, and 2 years after the market bottoms. Investors buying at the market bottom will on average see 40% returns after one year and 54% returns after two years. Those are some of the best returns you'll ever find with SPY, and it's again worth noting that the start of those returns will likely happen before the recession is over, if we even get a recession in the first place. Even if investors lump sum into the market now and it continues to sell off with Covid crash extremes (-34%), they'll on average still be looking at nicely positive returns within the next couple years.Current Market ValuationThe next data point is the S&P 500's historical P/E ratio. Today, SPY has a P/E of 18 and a forward P/E ratio of 16. The modern era market average is a P/E of 20, while the average going back to 1870 is 16. Either way, the current P/E ratio is within one standard deviation of the average, meaning that stocks are within a range that would be considered fairly valued based on historical standards. That holds true even if analyst estimates for earnings growth are wrong and we don't see any earnings growth for the next year.Morningstar Equity ResearchAnother data point shows the price vs. fair value estimate based on Morningstar's DCF valuation for the many stocks in their coverage universe. Morningstar is a respected analyst firm. We can see that stocks are currently very undervalued according to their valuation model, in fact more undervalued than they were during the Covid crash or 2018 panic. Investors would have to go back to the 2011 Greece debt crisis in the aftermath of the Great Financial Crisis to find another time when Morningstar thought stocks were as undervalued as they are today. As we all know, stocks have been on an incredible bull run since 2011.Key assumptions that Morningstar makes include the Fed tightening cycle ending this year and inflation subsiding in 2023. These are somewhat bold assumptions at this point, but there is also the best margin of safety in over a decade if the assumptions prove incorrect.At my Marketplace service on Seeking Alpha, Tech Investing Edge, I cover a smaller universe of about 30 stocks that I think represent some of the best long-term investing opportunities. My price targets today estimate an average upside of 73%, which is the highest level since I started the service earlier this year. Thus, my own valuation model for the companies I cover aligns well with Morningstar's.ConclusionStock market bears have had a great time this year, and many will try to tell you with certainty that SPY will continue going lower until the P/E falls to 15, until inflation subsides, until the war in Ukraine is over, until the recession is over, until the Fed pivots, or until a variety of other conditions are met.I hope that this article provided multiple data points to show that nobody knows for sure what markets will do in the near future, even if you're of the belief that a recession is inevitable or already happening. Investors should still prepare themselves for more volatility and potentially more negative returns as the market searches for a bottom and digests the currently poor economic environment.However, risk-tolerant investors should consider increasing their exposure to stocks through SPY or individual stock picks, as the market has bounced back after each past recession and will likely bounce back after this one as well. Often, that bounce comes sooner than many market participants expect.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882896618,"gmtCreate":1631671681234,"gmtModify":1676530605208,"author":{"id":"4089375162568130","authorId":"4089375162568130","name":"wcc","avatar":"https://static.tigerbbs.com/70e3cf060b328e4ecd4cf14918755ebf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375162568130","authorIdStr":"4089375162568130"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/882896618","repostId":"1142821280","repostType":2,"repost":{"id":"1142821280","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631664031,"share":"https://ttm.financial/m/news/1142821280?lang=en_US&edition=fundamental","pubTime":"2021-09-15 08:00","market":"us","language":"zh","title":"Last Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13","url":"https://stock-news.laohu8.com/highlight/detail?id=1142821280","media":"老虎资讯综合","summary":"摘要：美股全线收跌，纳指连续第五个交易日下滑；热门中概普跌，网易跌超4%；苹果收跌近1%，媒体称新品发布会并无惊艳之处；瑞士体育数据巨头Sportradar IPO首日破发收跌逾7%。\n\n1、美股周二","content":"<p>Abstract: U.S. stocks closed down across the board, and the Nasdaq fell for the fifth consecutive trading day; The popular China concept fell, and Netease fell by more than 4%; Apple closed down nearly 1%, and the media said that there was nothing amazing about the new product launch; Swiss sports data giant Sportradar closed down more than 7% on its first day of IPO break.<b>1. U.S. stocks closed lower on Tuesday, and the Nasdaq fell for five consecutive days</b></p><p>U.S. stocks closed lower on Tuesday, with the Dow down 290 points and the Nasdaq recording its fifth consecutive session of declines. In August, the core CPI of the United States rose by 4% year-on-year, in line with market expectations and slightly lower than the July data. At the same time, the market is also paying attention to the tax increase proposal proposed by the US Democratic Party. By the close, the Dow was down 0.84%, the S&P 500 was down 0.57% and the Nasdaq was down 0.45%.</p><p>Popular Chinese stocks closed down on Tuesday,<a href=\"https://laohu8.com/S/NTES\">Netease</a>It fell by more than 4%, and it was reported that Netease will reduce the scale of some game projects.</p><p><b>2. Popular Chinese concept stocks closed down on Tuesday, Netease fell more than 4%</b></p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/ACH\">Aluminum Corporation of China</a>Fell more than 6%, Netease,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell nearly 4%, Ctrip,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/YY\">Huanju Group</a>Fog Core Technology fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up nearly 1%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars fell more than 1%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Up nearly 0.3%.</p><p><b>3. European stock index fell slightly on the eve of US inflation data</b></p><p>Most major indexes of European stocks closed lower, with Germany's DAX30 index rising 0.14% and France's CAC40 index falling 0.36%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.47%, while the Euro Stoxx 50 index rose 0.06%.</p><p><b>4. U.S. crude oil futures closed almost flat at a 6-week high</b></p><p>As market concerns over the disruption of crude oil and natural gas production caused by Tropical Storm Nicholas landing in the Gulf Area have eased. In the end, West Texas Intermediate (WTI) futures for October delivery rose 1 cent to close at $70.46 a barrel on the New York Mercantile Exchange.</p><p>Europe<a href=\"https://laohu8.com/S/ICE\">Intercontinental Exchange</a>Brent crude futures for November delivery rose 9 cents, or 0.1%, to close at $73.60 a barrel.</p><p><b>5. On Tuesday, gold futures stood at the $1,800 mark, and palladium fell below $2,000</b></p><p>Data showed US inflation rose to a seven-month low in August, causing the US dollar to weaken and giving support to gold prices. In the end, gold futures for December delivery rose $12.70, or 0.7%, to close at $1,807.10 an ounce on the New York Mercantile Exchange.</p><p>International macro</p><p><b>1. Pandemic ravages income decline U.S. poverty rate rebounds from 60-year low</b></p><p>The COVID-19 pandemic plunged the U.S. economy in 2020 and caused millions of people to lose their jobs. While the country's income declined, the poverty rate also picked up from its lowest point in 60 years.</p><p>The inflation-adjusted median resident income fell 2.9% to $67,500 last year, according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate, which declined for five consecutive years and reached its lowest level since 1959 in 2019, rose to 11.4%.</p><p><b>2. Widespread power outages caused by Hurricane Nicholas The Texas oil pipeline connecting the east coast was shut down</b></p><p>North America's largest gasoline pipeline halted gasoline deliveries from Texas to the East Coast after Hurricane Nicholas knocked out power to nearly half a million homes and businesses. Power outages caused after the hurricane made landfall early Tuesday morning disrupted operations at a natural gas export terminal 70 miles south of Houston. Docks along the Texas coast are closed, and the U.S. Coast Guard is assessing conditions in the seaways.</p><p><b>3. Commodity shipping rates hit the biggest one-day increase in a decade due to strong demand for raw materials</b></p><p>The average rate for Capesize bulkers carrying commodities such as coal and iron ore rose $6,700 on Monday, the biggest daily increase since 2010, as shipowners continued to benefit from strong demand for raw materials. The rate extended its rally on Tuesday, rising to an 11-year high of nearly $53,700, according to Baltic Exchange data.</p><p><b>4. The exhaust gas filter of the nuclear sewage treatment plant of Fukushima Daiichi Nuclear Power Plant in Japan is almost completely broken</b></p><p>Twenty-four out of a total of 25 exhaust gas filters of the \"multi-nuclide removal equipment\" used to filter radioactive materials from nuclear sewage at Fukushima Daiichi Nuclear Power Plant were damaged, Tokyo Electric Power Company reported at a meeting of the Japan Atomic Energy Regulatory Commission.</p><p><b>5. UN report calls for adjustment of global agricultural support policies worth $470 billion</b></p><p>The Food and Agriculture Organization of the United Nations released news on September 14th that the latest report \"Billions of Dollars of Opportunities: Recalibrating Agricultural Support to Transform Food Systems\" jointly released by the Food and Agriculture Organization of the United Nations (FAO), the United Nations Development Program (UNDP) and the United Nations Environment Programme (UNEP) calls for adjustments to agricultural support policies worth $470 billion annually worldwide, which lead to price distortions and destroy the environment and society. Thereby promoting the achievement of more targets under the 2030 Sustainable Development Goals and delivering on the UN Decade of Ecosystem Restoration plan.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167855774\" target=\"_blank\"><b>Apple closed down nearly 1% on Tuesday Media said the new product launch was not amazing</b></a></p><p>Apple's shares closed down 0.96% at $148.12 on Tuesday, after falling more than 1.5% during the session, and its latest market value was $2.4 trillion. The media said there was nothing amazing about the company's autumn new product launch.</p><p>Apple's autumn conference was held at 1: 00 a.m. Beijing time on the 15th. The iPhone 13 Series mobile phones with smaller bangs, the Apple Watch Series 7 with no \"square\" change, the iPad mini with 5G support and other products were all unveiled. However, the conference did not mention the new AirPods wireless Bluetooth headset or the rumored low-orbit satellite communication function that the outside world had previously expected.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167162554\" target=\"_blank\"><b>U.S. Sen. Warren urges Fed to break up Wells Fargo</b></a></p><p>U.S. Senator Elizabeth Warren has urged the Federal Reserve to separate Wells Fargo's banking unit from its financial services business, according to Bloomberg. This month, Wells Fargo was subject to new regulatory measures and was fined $250 million.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167554998\" target=\"_blank\"><b>Google was heavily fined by South Korea for allegedly abusing market dominance</b></a></p><p>Xinhua News Agency, Seoul, Sept. 14 (Reporter Lu Rui Du Baiyu) The Korean Fair Trade Commission announced on the 14th that it decided to fine Google 207.4 billion won (about 177 million US dollars) for allegedly abusing its dominant market position.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167879550\" target=\"_blank\"><b>Swiss sports data giant Sportradar lands on Nasdaq IPO first day break closes down more than 7%</b></a></p><p>Swiss sports data giant Sportradar, which owns American basketball superstar Michael Jordan as a shareholder, landed on the Nasdaq on Tuesday, with Jordan ringing the bell in person. The stock opened flat but then broke, swinging lower in the session, falling close to 10% at one point.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167395557\" target=\"_blank\"><b>Global Star plunged 20%, Apple launch conference did not mention low-orbit satellite communication function</b></a></p><p>Satellite communication service provider<a href=\"https://laohu8.com/S/GSAT\">Global Star</a>(GlobalStar) plunged more than 20% in the session on Tuesday,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company did not mention the previously rumored low-orbit satellite communication function in the autumn conference.<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Analyst Ming-Chi Kuo predicted before Apple's press conference that the hardware specifications of iPhone 13 can support low-orbit satellite communication. If Apple turns on related software functions, users can also talk and communicate through satellite communication when they are not covered by 4G/5G. In terms of technology and service coverage, Globalstar is the most likely low-orbit satellite service provider to cooperate with Apple.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167554032\" target=\"_blank\"><b>Amazon CEO: Amazon is ambitious in the entertainment market, streaming is off to a good start</b></a></p><p>In the early morning of September 15th, Beijing time, it was reported that Amazon CEO Andy Jassy said on Tuesday that Amazon is ambitious in the entertainment market, including from live sports broadcasting to providing original content for Prime subscribers, and it is just the beginning. Jassy said in an interview with the media: \"Amazon's development in the media field is still in the early stage. We have made a good start, and we also believe that there is an opportunity to provide customers with a unique viewing experience with truly original and creative content.\"</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167568113\" target=\"_blank\"><b>Goldman Sachs Appoints New CFO, Solomon as CEO to First Senior Change</b></a></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It was announced on Tuesday that Denis Coleman, who has been co-heading the global financing business in the investment banking department since 2018, will be appointed as chief financial officer (CFO), replacing the current CFO Stephen Scherr, who stepped down at the end of this year, from January 1 next year. This is the first time that Goldman Sachs CEO Solomon has replaced his senior leadership team since he took charge of Goldman Sachs in October 2018. Scherr was one of the investment bankers promoted after Solomon took office, and John Waldron, the current president and chief operating officer of Goldman Sachs, was also an executive promoted after Solomon took office.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-15 08:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: U.S. stocks closed down across the board, and the Nasdaq fell for the fifth consecutive trading day; The popular China concept fell, and Netease fell by more than 4%; Apple closed down nearly 1%, and the media said that there was nothing amazing about the new product launch; Swiss sports data giant Sportradar closed down more than 7% on its first day of IPO break.<b>1. U.S. stocks closed lower on Tuesday, and the Nasdaq fell for five consecutive days</b></p><p>U.S. stocks closed lower on Tuesday, with the Dow down 290 points and the Nasdaq recording its fifth consecutive session of declines. In August, the core CPI of the United States rose by 4% year-on-year, in line with market expectations and slightly lower than the July data. At the same time, the market is also paying attention to the tax increase proposal proposed by the US Democratic Party. By the close, the Dow was down 0.84%, the S&P 500 was down 0.57% and the Nasdaq was down 0.45%.</p><p>Popular Chinese stocks closed down on Tuesday,<a href=\"https://laohu8.com/S/NTES\">Netease</a>It fell by more than 4%, and it was reported that Netease will reduce the scale of some game projects.</p><p><b>2. Popular Chinese concept stocks closed down on Tuesday, Netease fell more than 4%</b></p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/ACH\">Aluminum Corporation of China</a>Fell more than 6%, Netease,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell nearly 4%, Ctrip,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/YY\">Huanju Group</a>Fog Core Technology fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up nearly 1%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars fell more than 1%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Up nearly 0.3%.</p><p><b>3. European stock index fell slightly on the eve of US inflation data</b></p><p>Most major indexes of European stocks closed lower, with Germany's DAX30 index rising 0.14% and France's CAC40 index falling 0.36%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.47%, while the Euro Stoxx 50 index rose 0.06%.</p><p><b>4. U.S. crude oil futures closed almost flat at a 6-week high</b></p><p>As market concerns over the disruption of crude oil and natural gas production caused by Tropical Storm Nicholas landing in the Gulf Area have eased. In the end, West Texas Intermediate (WTI) futures for October delivery rose 1 cent to close at $70.46 a barrel on the New York Mercantile Exchange.</p><p>Europe<a href=\"https://laohu8.com/S/ICE\">Intercontinental Exchange</a>Brent crude futures for November delivery rose 9 cents, or 0.1%, to close at $73.60 a barrel.</p><p><b>5. On Tuesday, gold futures stood at the $1,800 mark, and palladium fell below $2,000</b></p><p>Data showed US inflation rose to a seven-month low in August, causing the US dollar to weaken and giving support to gold prices. In the end, gold futures for December delivery rose $12.70, or 0.7%, to close at $1,807.10 an ounce on the New York Mercantile Exchange.</p><p>International macro</p><p><b>1. Pandemic ravages income decline U.S. poverty rate rebounds from 60-year low</b></p><p>The COVID-19 pandemic plunged the U.S. economy in 2020 and caused millions of people to lose their jobs. While the country's income declined, the poverty rate also picked up from its lowest point in 60 years.</p><p>The inflation-adjusted median resident income fell 2.9% to $67,500 last year, according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate, which declined for five consecutive years and reached its lowest level since 1959 in 2019, rose to 11.4%.</p><p><b>2. Widespread power outages caused by Hurricane Nicholas The Texas oil pipeline connecting the east coast was shut down</b></p><p>North America's largest gasoline pipeline halted gasoline deliveries from Texas to the East Coast after Hurricane Nicholas knocked out power to nearly half a million homes and businesses. Power outages caused after the hurricane made landfall early Tuesday morning disrupted operations at a natural gas export terminal 70 miles south of Houston. Docks along the Texas coast are closed, and the U.S. Coast Guard is assessing conditions in the seaways.</p><p><b>3. Commodity shipping rates hit the biggest one-day increase in a decade due to strong demand for raw materials</b></p><p>The average rate for Capesize bulkers carrying commodities such as coal and iron ore rose $6,700 on Monday, the biggest daily increase since 2010, as shipowners continued to benefit from strong demand for raw materials. The rate extended its rally on Tuesday, rising to an 11-year high of nearly $53,700, according to Baltic Exchange data.</p><p><b>4. The exhaust gas filter of the nuclear sewage treatment plant of Fukushima Daiichi Nuclear Power Plant in Japan is almost completely broken</b></p><p>Twenty-four out of a total of 25 exhaust gas filters of the \"multi-nuclide removal equipment\" used to filter radioactive materials from nuclear sewage at Fukushima Daiichi Nuclear Power Plant were damaged, Tokyo Electric Power Company reported at a meeting of the Japan Atomic Energy Regulatory Commission.</p><p><b>5. UN report calls for adjustment of global agricultural support policies worth $470 billion</b></p><p>The Food and Agriculture Organization of the United Nations released news on September 14th that the latest report \"Billions of Dollars of Opportunities: Recalibrating Agricultural Support to Transform Food Systems\" jointly released by the Food and Agriculture Organization of the United Nations (FAO), the United Nations Development Program (UNDP) and the United Nations Environment Programme (UNEP) calls for adjustments to agricultural support policies worth $470 billion annually worldwide, which lead to price distortions and destroy the environment and society. Thereby promoting the achievement of more targets under the 2030 Sustainable Development Goals and delivering on the UN Decade of Ecosystem Restoration plan.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167855774\" target=\"_blank\"><b>Apple closed down nearly 1% on Tuesday Media said the new product launch was not amazing</b></a></p><p>Apple's shares closed down 0.96% at $148.12 on Tuesday, after falling more than 1.5% during the session, and its latest market value was $2.4 trillion. The media said there was nothing amazing about the company's autumn new product launch.</p><p>Apple's autumn conference was held at 1: 00 a.m. Beijing time on the 15th. The iPhone 13 Series mobile phones with smaller bangs, the Apple Watch Series 7 with no \"square\" change, the iPad mini with 5G support and other products were all unveiled. However, the conference did not mention the new AirPods wireless Bluetooth headset or the rumored low-orbit satellite communication function that the outside world had previously expected.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167162554\" target=\"_blank\"><b>U.S. Sen. Warren urges Fed to break up Wells Fargo</b></a></p><p>U.S. Senator Elizabeth Warren has urged the Federal Reserve to separate Wells Fargo's banking unit from its financial services business, according to Bloomberg. This month, Wells Fargo was subject to new regulatory measures and was fined $250 million.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167554998\" target=\"_blank\"><b>Google was heavily fined by South Korea for allegedly abusing market dominance</b></a></p><p>Xinhua News Agency, Seoul, Sept. 14 (Reporter Lu Rui Du Baiyu) The Korean Fair Trade Commission announced on the 14th that it decided to fine Google 207.4 billion won (about 177 million US dollars) for allegedly abusing its dominant market position.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167879550\" target=\"_blank\"><b>Swiss sports data giant Sportradar lands on Nasdaq IPO first day break closes down more than 7%</b></a></p><p>Swiss sports data giant Sportradar, which owns American basketball superstar Michael Jordan as a shareholder, landed on the Nasdaq on Tuesday, with Jordan ringing the bell in person. The stock opened flat but then broke, swinging lower in the session, falling close to 10% at one point.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167395557\" target=\"_blank\"><b>Global Star plunged 20%, Apple launch conference did not mention low-orbit satellite communication function</b></a></p><p>Satellite communication service provider<a href=\"https://laohu8.com/S/GSAT\">Global Star</a>(GlobalStar) plunged more than 20% in the session on Tuesday,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company did not mention the previously rumored low-orbit satellite communication function in the autumn conference.<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Analyst Ming-Chi Kuo predicted before Apple's press conference that the hardware specifications of iPhone 13 can support low-orbit satellite communication. If Apple turns on related software functions, users can also talk and communicate through satellite communication when they are not covered by 4G/5G. In terms of technology and service coverage, Globalstar is the most likely low-orbit satellite service provider to cooperate with Apple.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167554032\" target=\"_blank\"><b>Amazon CEO: Amazon is ambitious in the entertainment market, streaming is off to a good start</b></a></p><p>In the early morning of September 15th, Beijing time, it was reported that Amazon CEO Andy Jassy said on Tuesday that Amazon is ambitious in the entertainment market, including from live sports broadcasting to providing original content for Prime subscribers, and it is just the beginning. Jassy said in an interview with the media: \"Amazon's development in the media field is still in the early stage. We have made a good start, and we also believe that there is an opportunity to provide customers with a unique viewing experience with truly original and creative content.\"</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167568113\" target=\"_blank\"><b>Goldman Sachs Appoints New CFO, Solomon as CEO to First Senior Change</b></a></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It was announced on Tuesday that Denis Coleman, who has been co-heading the global financing business in the investment banking department since 2018, will be appointed as chief financial officer (CFO), replacing the current CFO Stephen Scherr, who stepped down at the end of this year, from January 1 next year. This is the first time that Goldman Sachs CEO Solomon has replaced his senior leadership team since he took charge of Goldman Sachs in October 2018. Scherr was one of the investment bankers promoted after Solomon took office, and John Waldron, the current president and chief operating officer of Goldman Sachs, was also an executive promoted after Solomon took office.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","USO":"美国原油ETF","UCO":"二倍做多彭博原油ETF","DWT":"三倍做空原油ETN","UDOW":"三倍做多道指30ETF-ProShares","DJX":"1/100道琼斯","SCO":"二倍做空彭博原油指数ETF",".DJI":"道琼斯","AAPL":"苹果","DDG":"ProShares做空石油与天然气ETF","DDM":"2倍做多道指ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares","DOG":"道指ETF-ProShares做空"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142821280","content_text":"摘要：美股全线收跌，纳指连续第五个交易日下滑；热门中概普跌，网易跌超4%；苹果收跌近1%，媒体称新品发布会并无惊艳之处；瑞士体育数据巨头Sportradar IPO首日破发收跌逾7%。\n\n1、美股周二收跌，纳指连跌五日\n美股周二收跌，道指下跌290点，纳指录得连续第五个交易日下滑。美国8月核心CPI同比上涨4%，符合市场预期，较7月数据略有回落。市场同时还在关注美国民主党提出的加税方案。截至收盘，道琼斯指数跌0.84%，标普500指数跌0.57%，纳斯达克指数跌0.45%。\n热门中概股周二收盘普跌，网易跌超4%，消息称网易将缩减部分游戏项目规模。\n2、热门中概股周二收盘普跌 网易跌超4%\n其他中概股方面，中国铝业跌超6%，网易、新东方跌超4%，好未来跌近4%，携程、阿里巴巴跌超3%，京东跌近3%，拼多多跌超2%，哔哩哔哩、百度、欢聚集团、雾芯科技跌超1%。新能源汽车股中，理想汽车涨近1%，蔚来汽车跌超1%，小鹏汽车涨近0.3%。\n3、美通胀数据前夕 欧股指数小幅下跌\n欧股收盘主要指数多数收跌，德国DAX30指数涨0.14%，法国CAC40指数跌0.36%，英国富时100指数跌0.47%，欧洲斯托克50指数涨0.06%。\n4、美国原油期货收盘几乎持平 维持在6周高位\n因市场对热带风暴尼古拉斯登陆墨西哥湾区造成原油和天然气生产中断的担忧有所缓解。最终，纽约商品交易所10月交割的西德州中质原油（WTI）期货价格上涨1美分，收于每桶70.46美元。\n欧洲洲际交易所11月交割的布伦特原油期货价格上涨9美分，涨幅0.1%，收于每桶73.60美元。\n5、周二黄金期货站上1800美元关口 钯金跌破2000美元\n数据显示美国8月份的通胀涨幅创7个月来新低，导致美元走软，使金价得到支撑。最终，纽约商品交易所12月交割的黄金期货价格上涨12.70美元，涨幅0.7%，收于每盎司1807.10美元。\n国际宏观\n1、疫情肆虐收入下降 美国贫困率从60年低点反弹\n新冠疫情令美国经济在2020年陷入颠并导致千百万人失业，该国居民收入下降的同时，贫困率也从60年以来的最低点回升。\n美国普查局周二发布的年度数据显示，去年经通胀调整的居民收入中位数减少了2.9%至67500美元。 连续五年下降并在2019年达到1959年以来最低位的贫困率则上升至11.4%。\n2、飓风尼古拉斯导致大范围停电 德州连接东海岸的输油管线被关闭\n在飓风尼古拉斯导致近50万家庭和商户停电后，北美最大的汽油管道停止了从德克萨斯州向东海岸的汽油输送。飓风周二凌晨登陆后导致的停电令休斯顿以南70英里一处天然气出口终端的运营受到破坏。德州海岸沿线的码头都处于关闭状态，美国海岸警卫队正在评估海道状况。\n3、大宗商品船运价创下十年来最大单日涨幅 因原材料需求旺盛\n运送煤炭和铁矿石等大宗商品的好望角型散货船平均运价周一上涨6，700美元，创2010年以来最大单日涨幅，因船东继续从强劲的原材料需求中受益。波罗的海交易所数据显示，该运价在周二延续涨势，一度升至近53，700美元的11年来最高水平。\n4、日本福岛第一核电站核污水处理装置废气滤网几近全坏\n日本东京电力公司在日本原子能规制委员会会议上汇报称，福岛第一核电站用于过滤核污水中放射性物质的“多核素去除设备”的总计25个废气滤网有24个发生破损。\n5、联合国报告呼吁调整全球价值4700亿美元的农业扶持政策\n联合国粮农组织9月14日发布消息称，由联合国粮食及农业组织 (FAO)、联合国开发计划署 (UNDP) 和联合国环境规划署 (UNEP) 联合发布的《价值数十亿美元的机会：重新调整农业支持来改造粮食系统》最新报告呼吁对全球每年价值4700亿美元，导致价格扭曲，破坏环境社会的农业扶持政策进行调整。从而推动实现2030年可持续发展目标下的更多具体目标，并兑现“联合国生态系统恢复十年”计划。\n公司新闻\n1、苹果周二收跌近1% 媒体称新品发布会并无惊艳之处\n苹果公司周二股价收盘下跌0.96%，报148.12美元，盘中一度跌逾1.5%，最新市值2.4万亿美元。媒体称该公司秋季新品发布会并无惊艳之处。\n苹果公司秋季发布会于北京时间15日凌晨1点召开，刘海变小的iPhone 13系列手机、没有变“方”的Apple Watch Series 7、支持5G的iPad mini等产品悉数亮相，但发布会并未提及此前外界期待的新款AirPods无线蓝牙耳机或传言的低轨卫星通讯功能。\n2、美参议员沃伦敦促美联储拆分富国银行\n据彭博社消息，美国参议员沃伦(Elizabeth Warren)敦促美联储将富国银行的银行部门与其金融服务业务拆分开。本月，富国银行受到新的监管措施，并被处以2.5亿美元罚款。\n3、谷歌因涉嫌滥用市场支配地位遭韩国重罚\n新华社首尔9月14日电（记者陆睿 杜白羽）韩国公平交易委员会14日宣布，因谷歌涉嫌滥用市场支配地位，决定对其处以2074亿韩元（约合1.77亿美元）罚款。\n4、瑞士体育数据巨头Sportradar登陆纳斯达克 IPO首日破发收跌逾7%\n拥有美国篮球巨星迈克尔-乔丹作为股东的瑞士体育数据巨头Sportradar周二登陆纳斯达克，乔丹亲临敲钟现场。该股开盘持平但随后破发，盘中震荡走低，跌幅一度接近10%。\n5、全球星暴跌20%，苹果发布会未提及低轨卫星通讯功能\n卫星通信服务提供商全球星（GlobalStar）周二盘中暴跌超20%，苹果公司在秋季发布会中没有提及此前传言的低轨卫星通讯功能。天风证券分析师郭明錤在苹果发布会前曾预测，iPhone 13硬件规格可支援低轨道卫星通讯，若苹果开启相关软件功能，则当使用者不在4G/5G覆盖范围内时，也能透过卫星通讯通话与传讯。就技术与服务覆盖率来看，最有可能与苹果合作的低轨道卫星服务业者为Globalstar。\n6、亚马逊CEO：亚马逊在娱乐市场雄心勃勃，流媒体开端很好\n北京时间9月15日凌晨消息，据报道，亚马逊CEO安迪·贾西（Andy Jassy）周二表示，亚马逊在娱乐市场雄心勃勃，包括从体育直播到为Prime订户提供原创内容，而目前还只是个开始。贾西在接受媒体采访时称：“亚马逊在媒体领域的发展还处于早期阶段。我们已经有了一个很好的开端，我们还相信，有机会用真正原创和有创意的内容，为客户提供独特的观看体验。”\n7、高盛任命新CFO，所罗门任CEO来高层首次换将\n高盛本周二宣布，任命2018年以来在投资银行部联合主管全球融资业务的Denis Coleman任首席财务官（CFO），从明年1月1日起接替今年末卸任的现任CFO Stephen Scherr。这是高盛CEO所罗门2018年10月执掌高盛以来他打造的高层领导班子首次出现人员替换。Scherr是Solomon走马上任后升职的投资银行家之一，现任高盛总裁兼首席运营官John Waldron也是所罗门上台后晋升的高管。","news_type":1,"symbols_score_info":{"UDOW":0.9,"CLmain":0.9,"AAPL":0.9,"DDM":0.9,"DJX":0.9,"SCO":0.9,"DUG":0.9,"UWTIF":0.9,"UCO":0.9,"DOG":0.9,"BZmain":0.9,"USO":0.9,".DJI":0.9,"DDG":0.9,"DWTIF":0.9,"SDOW":0.9,"DXD":0.9,"DWT":0.9,"YMmain":0.9,"QMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":4371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883655317,"gmtCreate":1631239453339,"gmtModify":1676530505491,"author":{"id":"4089375162568130","authorId":"4089375162568130","name":"wcc","avatar":"https://static.tigerbbs.com/70e3cf060b328e4ecd4cf14918755ebf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375162568130","authorIdStr":"4089375162568130"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883655317","repostId":"1119421769","repostType":2,"isVote":1,"tweetType":1,"viewCount":3956,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9915409200,"gmtCreate":1665095757901,"gmtModify":1676537554448,"author":{"id":"4089375162568130","authorId":"4089375162568130","name":"wcc","avatar":"https://static.tigerbbs.com/70e3cf060b328e4ecd4cf14918755ebf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375162568130","authorIdStr":"4089375162568130"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915409200","repostId":"1191721961","repostType":2,"repost":{"id":"1191721961","kind":"news","pubTimestamp":1665044676,"share":"https://ttm.financial/m/news/1191721961?lang=en_US&edition=fundamental","pubTime":"2022-10-06 16:24","market":"us","language":"en","title":"SPY: How Would A Recession Impact The S&P 500 Outlook?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191721961","media":"Seeking Alpha","summary":"SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.Tha","content":"<html><head></head><body><h2>Summary</h2><ul><li>Investors may be surprised by what past recessions can tell us about stock market returns.</li><li>That is, if we can agree on the definition of a recession.</li><li>Macro issues aside, I believe that now is a good time to be buying stocks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e6de7f0fab0e6bb37cdb11d688fb5d1\" tg-width=\"1080\" tg-height=\"796\" referrerpolicy=\"no-referrer\"/><span>DNY59</span></p><h2>Thesis</h2><p>Whether there is a recession or not, stocks look reasonably valued today and the S&P 500 (NYSEARCA:SPY) should continue to perform well in the long term.</p><h2>What Is A Recession?</h2><p>The official definition of a recession has been thetopic of much debate lately. Many refer to a recession as two or more consecutive quarters of negative GDP growth, a requirement which was already met in Q1 and Q2 of 2022.</p><p>However, others argue that in addition to (or instead of) negative GDP growth, a recession must be characterized by a sustained period of economic decline, with a broad impact reaching areas like trade, manufacturing, and labor. For example, most people consider the period from February-March 2020 a recession, even though it was less than two quarters.</p><p>Recessions are temporary, and thus the semantics of a recession are not all that important to long-term investors. But it's worth noting that there has been a clear correlation between recessions and the labor market, which has not held today.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e244cd5d88e7efe563b9a11bbbd69704\" tg-width=\"640\" tg-height=\"235\" referrerpolicy=\"no-referrer\"/><span>FRED</span></p><p>The shaded areas in the above chart are past recessions, and we can see that each shaded area is accompanied by a steep rise in unemployment. The inverse also holds: each steep rise in unemployment is accompanied by a recession. Since the current labor market has remained strong, at least through August, it's safe to say that at least one element of a traditional recession is missing.</p><p>That doesn't mean a recession won't come in short order, as the Fed continues to hike rates and many companies recently lowered or suspended guidance citing macro issues. If we begin seeing massive layoffs, then it's safe to say that we're probably entering a recession.</p><p>If that does happen, what's the outlook on the S&P 500? Let's take a look.</p><h2>Historical Recessions</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e196047db513bc62f32b6e7fe7e2b966\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"/><span>Yahoo Finance</span></p><p>As shown in the above chart from Yahoo Finance, the median peak-to-trough decline of the S&P 500 during a recession is -24%, and because there were a few particularly bad recessions the mean is higher at a -29% decline. The full range of declines goes from -14% to -57%, so there's quite a range of outcomes here, but it's clear that investors should expect negative stock market returns surrounding a recession.</p><p>This year, SPY peaked at $479.98 and fell to $357.04. That's a 25.6% decline, meaning that at least by this metric, investors have already priced in a historically average recession.</p><p>Considering that the labor market and other signals remain strong, some argue that investors have been too quick to sell stocks and that a rebound is likely on the way. On the other hand, others argue that the current crash started from a record high P/E ratio and that the macro picture looks worse than it has in years, meaning that there's potentially more room to fall.</p><p>I won't hazard a guess as to who's right because macro issues are very difficult to predict. However, even for those who are (foolishly) very confident that they know exactly what will happen with the economy, the more important question is what impact will that have on the stock market?</p><p>You may think that the chart I shared above answers that question. However, it shows a peak-to-trough decline, which is distinct from the stock market returns during an actual recession because the peak-to-trough decline may start before and/or end after the recession. Here are the market's returns during the actual months of the recessions in the above chart:</p><table><tbody><tr><td><b>Recession</b></td><td><b>SPY Return</b></td></tr><tr><td>Nov-48:Oct-49</td><td>11%</td></tr><tr><td>Jul-53:May-54</td><td>25%</td></tr><tr><td>Aug-57:Apr-58</td><td>-5%</td></tr><tr><td>Apr-60:Feb-61</td><td>18%</td></tr><tr><td>Dec-69:Nov-70</td><td>3%</td></tr><tr><td>Nov-73:Mar-75</td><td>-24%</td></tr><tr><td>Jan-80:Jul-80</td><td>0%</td></tr><tr><td>Jul-81:Nov-82</td><td>6%</td></tr><tr><td>Jul-90:Mar-91</td><td>13%</td></tr><tr><td>Mar-01:Nov-01</td><td>-9%</td></tr><tr><td>Dec-07:Jun-09</td><td>-39%</td></tr><tr><td>Feb-20:Mar-20</td><td>-24%</td></tr><tr><td><b>Average</b></td><td><b>-2%</b></td></tr><tr><td><b>Median</b></td><td><b>2%</b></td></tr></tbody></table><p>Source: The Author</p><p>The key point here is that markets typically price in a recession before it actually happens and begin to price it out before it's actually over. With a range of during-recession returns from -39% to +25%, it's safe to say that whether or not we are currently in a recession has historically had little to no predictable impact on SPY returns. You probably shouldn't bet on great returns during a recession, but they're also not out of the question.</p><h2>Best Course For Investors</h2><p>At Tech Investing Edge, we invest with a 10+ year time horizon and don't attempt to time the market based on whether we're in a recession or other factors. Hopefully, the previous sections have made it clear why that's my preferred strategy. In this section, I'll share a few charts about why I think that now is a good time to increase exposure to stocks, through SPY or individual stock picks.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e196047db513bc62f32b6e7fe7e2b966\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"/><span>Yahoo Finance</span></p><p>This is the same chart I shared in the previous section. A key point that I didn't discuss yet is the performance 1 year after the market bottoms, and 2 years after the market bottoms. Investors buying at the market bottom will on average see 40% returns after one year and 54% returns after two years. Those are some of the best returns you'll ever find with SPY, and it's again worth noting that the start of those returns will likely happen before the recession is over, if we even get a recession in the first place. Even if investors lump sum into the market now and it continues to sell off with Covid crash extremes (-34%), they'll on average still be looking at nicely positive returns within the next couple years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48970cb98595a3c00b76cfcea64bead8\" tg-width=\"640\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/><span>Current Market Valuation</span></p><p>The next data point is the S&P 500's historical P/E ratio. Today, SPY has a P/E of 18 and a forward P/E ratio of 16. The modern era market average is a P/E of 20, while the average going back to 1870 is 16. Either way, the current P/E ratio is within one standard deviation of the average, meaning that stocks are within a range that would be considered fairly valued based on historical standards. That holds true even if analyst estimates for earnings growth are wrong and we don't see any earnings growth for the next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1fe698a5c07dfcf88b263624c52a6404\" tg-width=\"640\" tg-height=\"358\" referrerpolicy=\"no-referrer\"/><span>Morningstar Equity Research</span></p><p>Another data point shows the price vs. fair value estimate based on Morningstar's DCF valuation for the many stocks in their coverage universe. Morningstar is a respected analyst firm. We can see that stocks are currently very undervalued according to their valuation model, in fact more undervalued than they were during the Covid crash or 2018 panic. Investors would have to go back to the 2011 Greece debt crisis in the aftermath of the Great Financial Crisis to find another time when Morningstar thought stocks were as undervalued as they are today. As we all know, stocks have been on an incredible bull run since 2011.</p><p>Key assumptions that Morningstar makes include the Fed tightening cycle ending this year and inflation subsiding in 2023. These are somewhat bold assumptions at this point, but there is also the best margin of safety in over a decade if the assumptions prove incorrect.</p><p>At my Marketplace service on Seeking Alpha, Tech Investing Edge, I cover a smaller universe of about 30 stocks that I think represent some of the best long-term investing opportunities. My price targets today estimate an average upside of 73%, which is the highest level since I started the service earlier this year. Thus, my own valuation model for the companies I cover aligns well with Morningstar's.</p><h2>Conclusion</h2><p>Stock market bears have had a great time this year, and many will try to tell you with certainty that SPY will continue going lower until the P/E falls to 15, until inflation subsides, until the war in Ukraine is over, until the recession is over, until the Fed pivots, or until a variety of other conditions are met.</p><p>I hope that this article provided multiple data points to show that nobody knows for sure what markets will do in the near future, even if you're of the belief that a recession is inevitable or already happening. Investors should still prepare themselves for more volatility and potentially more negative returns as the market searches for a bottom and digests the currently poor economic environment.</p><p>However, risk-tolerant investors should consider increasing their exposure to stocks through SPY or individual stock picks, as the market has bounced back after each past recession and will likely bounce back after this one as well. Often, that bounce comes sooner than many market participants expect.</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>SPY: How Would A Recession Impact The S&P 500 Outlook?</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\">\nSPY: How Would A Recession Impact The S&P 500 Outlook?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-06 16:24 GMT+8 <a href=https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.That is, if we can agree on the definition of a recession.Macro issues aside, I believe that now is a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4544708-spy-how-recession-impact-s-p-500-outlook","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191721961","content_text":"SummaryInvestors may be surprised by what past recessions can tell us about stock market returns.That is, if we can agree on the definition of a recession.Macro issues aside, I believe that now is a good time to be buying stocks.DNY59ThesisWhether there is a recession or not, stocks look reasonably valued today and the S&P 500 (NYSEARCA:SPY) should continue to perform well in the long term.What Is A Recession?The official definition of a recession has been thetopic of much debate lately. Many refer to a recession as two or more consecutive quarters of negative GDP growth, a requirement which was already met in Q1 and Q2 of 2022.However, others argue that in addition to (or instead of) negative GDP growth, a recession must be characterized by a sustained period of economic decline, with a broad impact reaching areas like trade, manufacturing, and labor. For example, most people consider the period from February-March 2020 a recession, even though it was less than two quarters.Recessions are temporary, and thus the semantics of a recession are not all that important to long-term investors. But it's worth noting that there has been a clear correlation between recessions and the labor market, which has not held today.FREDThe shaded areas in the above chart are past recessions, and we can see that each shaded area is accompanied by a steep rise in unemployment. The inverse also holds: each steep rise in unemployment is accompanied by a recession. Since the current labor market has remained strong, at least through August, it's safe to say that at least one element of a traditional recession is missing.That doesn't mean a recession won't come in short order, as the Fed continues to hike rates and many companies recently lowered or suspended guidance citing macro issues. If we begin seeing massive layoffs, then it's safe to say that we're probably entering a recession.If that does happen, what's the outlook on the S&P 500? Let's take a look.Historical RecessionsYahoo FinanceAs shown in the above chart from Yahoo Finance, the median peak-to-trough decline of the S&P 500 during a recession is -24%, and because there were a few particularly bad recessions the mean is higher at a -29% decline. The full range of declines goes from -14% to -57%, so there's quite a range of outcomes here, but it's clear that investors should expect negative stock market returns surrounding a recession.This year, SPY peaked at $479.98 and fell to $357.04. That's a 25.6% decline, meaning that at least by this metric, investors have already priced in a historically average recession.Considering that the labor market and other signals remain strong, some argue that investors have been too quick to sell stocks and that a rebound is likely on the way. On the other hand, others argue that the current crash started from a record high P/E ratio and that the macro picture looks worse than it has in years, meaning that there's potentially more room to fall.I won't hazard a guess as to who's right because macro issues are very difficult to predict. However, even for those who are (foolishly) very confident that they know exactly what will happen with the economy, the more important question is what impact will that have on the stock market?You may think that the chart I shared above answers that question. However, it shows a peak-to-trough decline, which is distinct from the stock market returns during an actual recession because the peak-to-trough decline may start before and/or end after the recession. Here are the market's returns during the actual months of the recessions in the above chart:RecessionSPY ReturnNov-48:Oct-4911%Jul-53:May-5425%Aug-57:Apr-58-5%Apr-60:Feb-6118%Dec-69:Nov-703%Nov-73:Mar-75-24%Jan-80:Jul-800%Jul-81:Nov-826%Jul-90:Mar-9113%Mar-01:Nov-01-9%Dec-07:Jun-09-39%Feb-20:Mar-20-24%Average-2%Median2%Source: The AuthorThe key point here is that markets typically price in a recession before it actually happens and begin to price it out before it's actually over. With a range of during-recession returns from -39% to +25%, it's safe to say that whether or not we are currently in a recession has historically had little to no predictable impact on SPY returns. You probably shouldn't bet on great returns during a recession, but they're also not out of the question.Best Course For InvestorsAt Tech Investing Edge, we invest with a 10+ year time horizon and don't attempt to time the market based on whether we're in a recession or other factors. Hopefully, the previous sections have made it clear why that's my preferred strategy. In this section, I'll share a few charts about why I think that now is a good time to increase exposure to stocks, through SPY or individual stock picks.Yahoo FinanceThis is the same chart I shared in the previous section. A key point that I didn't discuss yet is the performance 1 year after the market bottoms, and 2 years after the market bottoms. Investors buying at the market bottom will on average see 40% returns after one year and 54% returns after two years. Those are some of the best returns you'll ever find with SPY, and it's again worth noting that the start of those returns will likely happen before the recession is over, if we even get a recession in the first place. Even if investors lump sum into the market now and it continues to sell off with Covid crash extremes (-34%), they'll on average still be looking at nicely positive returns within the next couple years.Current Market ValuationThe next data point is the S&P 500's historical P/E ratio. Today, SPY has a P/E of 18 and a forward P/E ratio of 16. The modern era market average is a P/E of 20, while the average going back to 1870 is 16. Either way, the current P/E ratio is within one standard deviation of the average, meaning that stocks are within a range that would be considered fairly valued based on historical standards. That holds true even if analyst estimates for earnings growth are wrong and we don't see any earnings growth for the next year.Morningstar Equity ResearchAnother data point shows the price vs. fair value estimate based on Morningstar's DCF valuation for the many stocks in their coverage universe. Morningstar is a respected analyst firm. We can see that stocks are currently very undervalued according to their valuation model, in fact more undervalued than they were during the Covid crash or 2018 panic. Investors would have to go back to the 2011 Greece debt crisis in the aftermath of the Great Financial Crisis to find another time when Morningstar thought stocks were as undervalued as they are today. As we all know, stocks have been on an incredible bull run since 2011.Key assumptions that Morningstar makes include the Fed tightening cycle ending this year and inflation subsiding in 2023. These are somewhat bold assumptions at this point, but there is also the best margin of safety in over a decade if the assumptions prove incorrect.At my Marketplace service on Seeking Alpha, Tech Investing Edge, I cover a smaller universe of about 30 stocks that I think represent some of the best long-term investing opportunities. My price targets today estimate an average upside of 73%, which is the highest level since I started the service earlier this year. Thus, my own valuation model for the companies I cover aligns well with Morningstar's.ConclusionStock market bears have had a great time this year, and many will try to tell you with certainty that SPY will continue going lower until the P/E falls to 15, until inflation subsides, until the war in Ukraine is over, until the recession is over, until the Fed pivots, or until a variety of other conditions are met.I hope that this article provided multiple data points to show that nobody knows for sure what markets will do in the near future, even if you're of the belief that a recession is inevitable or already happening. Investors should still prepare themselves for more volatility and potentially more negative returns as the market searches for a bottom and digests the currently poor economic environment.However, risk-tolerant investors should consider increasing their exposure to stocks through SPY or individual stock picks, as the market has bounced back after each past recession and will likely bounce back after this one as well. Often, that bounce comes sooner than many market participants expect.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882896618,"gmtCreate":1631671681234,"gmtModify":1676530605208,"author":{"id":"4089375162568130","authorId":"4089375162568130","name":"wcc","avatar":"https://static.tigerbbs.com/70e3cf060b328e4ecd4cf14918755ebf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375162568130","authorIdStr":"4089375162568130"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/882896618","repostId":"1142821280","repostType":2,"repost":{"id":"1142821280","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631664031,"share":"https://ttm.financial/m/news/1142821280?lang=en_US&edition=fundamental","pubTime":"2021-09-15 08:00","market":"us","language":"zh","title":"Last Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13","url":"https://stock-news.laohu8.com/highlight/detail?id=1142821280","media":"老虎资讯综合","summary":"摘要：美股全线收跌，纳指连续第五个交易日下滑；热门中概普跌，网易跌超4%；苹果收跌近1%，媒体称新品发布会并无惊艳之处；瑞士体育数据巨头Sportradar IPO首日破发收跌逾7%。\n\n1、美股周二","content":"<p>Abstract: U.S. stocks closed down across the board, and the Nasdaq fell for the fifth consecutive trading day; The popular China concept fell, and Netease fell by more than 4%; Apple closed down nearly 1%, and the media said that there was nothing amazing about the new product launch; Swiss sports data giant Sportradar closed down more than 7% on its first day of IPO break.<b>1. U.S. stocks closed lower on Tuesday, and the Nasdaq fell for five consecutive days</b></p><p>U.S. stocks closed lower on Tuesday, with the Dow down 290 points and the Nasdaq recording its fifth consecutive session of declines. In August, the core CPI of the United States rose by 4% year-on-year, in line with market expectations and slightly lower than the July data. At the same time, the market is also paying attention to the tax increase proposal proposed by the US Democratic Party. By the close, the Dow was down 0.84%, the S&P 500 was down 0.57% and the Nasdaq was down 0.45%.</p><p>Popular Chinese stocks closed down on Tuesday,<a href=\"https://laohu8.com/S/NTES\">Netease</a>It fell by more than 4%, and it was reported that Netease will reduce the scale of some game projects.</p><p><b>2. Popular Chinese concept stocks closed down on Tuesday, Netease fell more than 4%</b></p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/ACH\">Aluminum Corporation of China</a>Fell more than 6%, Netease,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell nearly 4%, Ctrip,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/YY\">Huanju Group</a>Fog Core Technology fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up nearly 1%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars fell more than 1%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Up nearly 0.3%.</p><p><b>3. European stock index fell slightly on the eve of US inflation data</b></p><p>Most major indexes of European stocks closed lower, with Germany's DAX30 index rising 0.14% and France's CAC40 index falling 0.36%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.47%, while the Euro Stoxx 50 index rose 0.06%.</p><p><b>4. U.S. crude oil futures closed almost flat at a 6-week high</b></p><p>As market concerns over the disruption of crude oil and natural gas production caused by Tropical Storm Nicholas landing in the Gulf Area have eased. In the end, West Texas Intermediate (WTI) futures for October delivery rose 1 cent to close at $70.46 a barrel on the New York Mercantile Exchange.</p><p>Europe<a href=\"https://laohu8.com/S/ICE\">Intercontinental Exchange</a>Brent crude futures for November delivery rose 9 cents, or 0.1%, to close at $73.60 a barrel.</p><p><b>5. On Tuesday, gold futures stood at the $1,800 mark, and palladium fell below $2,000</b></p><p>Data showed US inflation rose to a seven-month low in August, causing the US dollar to weaken and giving support to gold prices. In the end, gold futures for December delivery rose $12.70, or 0.7%, to close at $1,807.10 an ounce on the New York Mercantile Exchange.</p><p>International macro</p><p><b>1. Pandemic ravages income decline U.S. poverty rate rebounds from 60-year low</b></p><p>The COVID-19 pandemic plunged the U.S. economy in 2020 and caused millions of people to lose their jobs. While the country's income declined, the poverty rate also picked up from its lowest point in 60 years.</p><p>The inflation-adjusted median resident income fell 2.9% to $67,500 last year, according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate, which declined for five consecutive years and reached its lowest level since 1959 in 2019, rose to 11.4%.</p><p><b>2. Widespread power outages caused by Hurricane Nicholas The Texas oil pipeline connecting the east coast was shut down</b></p><p>North America's largest gasoline pipeline halted gasoline deliveries from Texas to the East Coast after Hurricane Nicholas knocked out power to nearly half a million homes and businesses. Power outages caused after the hurricane made landfall early Tuesday morning disrupted operations at a natural gas export terminal 70 miles south of Houston. Docks along the Texas coast are closed, and the U.S. Coast Guard is assessing conditions in the seaways.</p><p><b>3. Commodity shipping rates hit the biggest one-day increase in a decade due to strong demand for raw materials</b></p><p>The average rate for Capesize bulkers carrying commodities such as coal and iron ore rose $6,700 on Monday, the biggest daily increase since 2010, as shipowners continued to benefit from strong demand for raw materials. The rate extended its rally on Tuesday, rising to an 11-year high of nearly $53,700, according to Baltic Exchange data.</p><p><b>4. The exhaust gas filter of the nuclear sewage treatment plant of Fukushima Daiichi Nuclear Power Plant in Japan is almost completely broken</b></p><p>Twenty-four out of a total of 25 exhaust gas filters of the \"multi-nuclide removal equipment\" used to filter radioactive materials from nuclear sewage at Fukushima Daiichi Nuclear Power Plant were damaged, Tokyo Electric Power Company reported at a meeting of the Japan Atomic Energy Regulatory Commission.</p><p><b>5. UN report calls for adjustment of global agricultural support policies worth $470 billion</b></p><p>The Food and Agriculture Organization of the United Nations released news on September 14th that the latest report \"Billions of Dollars of Opportunities: Recalibrating Agricultural Support to Transform Food Systems\" jointly released by the Food and Agriculture Organization of the United Nations (FAO), the United Nations Development Program (UNDP) and the United Nations Environment Programme (UNEP) calls for adjustments to agricultural support policies worth $470 billion annually worldwide, which lead to price distortions and destroy the environment and society. Thereby promoting the achievement of more targets under the 2030 Sustainable Development Goals and delivering on the UN Decade of Ecosystem Restoration plan.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167855774\" target=\"_blank\"><b>Apple closed down nearly 1% on Tuesday Media said the new product launch was not amazing</b></a></p><p>Apple's shares closed down 0.96% at $148.12 on Tuesday, after falling more than 1.5% during the session, and its latest market value was $2.4 trillion. The media said there was nothing amazing about the company's autumn new product launch.</p><p>Apple's autumn conference was held at 1: 00 a.m. Beijing time on the 15th. The iPhone 13 Series mobile phones with smaller bangs, the Apple Watch Series 7 with no \"square\" change, the iPad mini with 5G support and other products were all unveiled. However, the conference did not mention the new AirPods wireless Bluetooth headset or the rumored low-orbit satellite communication function that the outside world had previously expected.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167162554\" target=\"_blank\"><b>U.S. Sen. Warren urges Fed to break up Wells Fargo</b></a></p><p>U.S. Senator Elizabeth Warren has urged the Federal Reserve to separate Wells Fargo's banking unit from its financial services business, according to Bloomberg. This month, Wells Fargo was subject to new regulatory measures and was fined $250 million.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167554998\" target=\"_blank\"><b>Google was heavily fined by South Korea for allegedly abusing market dominance</b></a></p><p>Xinhua News Agency, Seoul, Sept. 14 (Reporter Lu Rui Du Baiyu) The Korean Fair Trade Commission announced on the 14th that it decided to fine Google 207.4 billion won (about 177 million US dollars) for allegedly abusing its dominant market position.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167879550\" target=\"_blank\"><b>Swiss sports data giant Sportradar lands on Nasdaq IPO first day break closes down more than 7%</b></a></p><p>Swiss sports data giant Sportradar, which owns American basketball superstar Michael Jordan as a shareholder, landed on the Nasdaq on Tuesday, with Jordan ringing the bell in person. The stock opened flat but then broke, swinging lower in the session, falling close to 10% at one point.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167395557\" target=\"_blank\"><b>Global Star plunged 20%, Apple launch conference did not mention low-orbit satellite communication function</b></a></p><p>Satellite communication service provider<a href=\"https://laohu8.com/S/GSAT\">Global Star</a>(GlobalStar) plunged more than 20% in the session on Tuesday,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company did not mention the previously rumored low-orbit satellite communication function in the autumn conference.<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Analyst Ming-Chi Kuo predicted before Apple's press conference that the hardware specifications of iPhone 13 can support low-orbit satellite communication. If Apple turns on related software functions, users can also talk and communicate through satellite communication when they are not covered by 4G/5G. In terms of technology and service coverage, Globalstar is the most likely low-orbit satellite service provider to cooperate with Apple.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167554032\" target=\"_blank\"><b>Amazon CEO: Amazon is ambitious in the entertainment market, streaming is off to a good start</b></a></p><p>In the early morning of September 15th, Beijing time, it was reported that Amazon CEO Andy Jassy said on Tuesday that Amazon is ambitious in the entertainment market, including from live sports broadcasting to providing original content for Prime subscribers, and it is just the beginning. Jassy said in an interview with the media: \"Amazon's development in the media field is still in the early stage. We have made a good start, and we also believe that there is an opportunity to provide customers with a unique viewing experience with truly original and creative content.\"</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167568113\" target=\"_blank\"><b>Goldman Sachs Appoints New CFO, Solomon as CEO to First Senior Change</b></a></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It was announced on Tuesday that Denis Coleman, who has been co-heading the global financing business in the investment banking department since 2018, will be appointed as chief financial officer (CFO), replacing the current CFO Stephen Scherr, who stepped down at the end of this year, from January 1 next year. This is the first time that Goldman Sachs CEO Solomon has replaced his senior leadership team since he took charge of Goldman Sachs in October 2018. Scherr was one of the investment bankers promoted after Solomon took office, and John Waldron, the current president and chief operating officer of Goldman Sachs, was also an executive promoted after Solomon took office.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast Night This Morning: The Dow closed down 290 points! Apple releases new products such as iPhone 13\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-15 08:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: U.S. stocks closed down across the board, and the Nasdaq fell for the fifth consecutive trading day; The popular China concept fell, and Netease fell by more than 4%; Apple closed down nearly 1%, and the media said that there was nothing amazing about the new product launch; Swiss sports data giant Sportradar closed down more than 7% on its first day of IPO break.<b>1. U.S. stocks closed lower on Tuesday, and the Nasdaq fell for five consecutive days</b></p><p>U.S. stocks closed lower on Tuesday, with the Dow down 290 points and the Nasdaq recording its fifth consecutive session of declines. In August, the core CPI of the United States rose by 4% year-on-year, in line with market expectations and slightly lower than the July data. At the same time, the market is also paying attention to the tax increase proposal proposed by the US Democratic Party. By the close, the Dow was down 0.84%, the S&P 500 was down 0.57% and the Nasdaq was down 0.45%.</p><p>Popular Chinese stocks closed down on Tuesday,<a href=\"https://laohu8.com/S/NTES\">Netease</a>It fell by more than 4%, and it was reported that Netease will reduce the scale of some game projects.</p><p><b>2. Popular Chinese concept stocks closed down on Tuesday, Netease fell more than 4%</b></p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/ACH\">Aluminum Corporation of China</a>Fell more than 6%, Netease,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell nearly 4%, Ctrip,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/YY\">Huanju Group</a>Fog Core Technology fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up nearly 1%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars fell more than 1%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Up nearly 0.3%.</p><p><b>3. European stock index fell slightly on the eve of US inflation data</b></p><p>Most major indexes of European stocks closed lower, with Germany's DAX30 index rising 0.14% and France's CAC40 index falling 0.36%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.47%, while the Euro Stoxx 50 index rose 0.06%.</p><p><b>4. U.S. crude oil futures closed almost flat at a 6-week high</b></p><p>As market concerns over the disruption of crude oil and natural gas production caused by Tropical Storm Nicholas landing in the Gulf Area have eased. In the end, West Texas Intermediate (WTI) futures for October delivery rose 1 cent to close at $70.46 a barrel on the New York Mercantile Exchange.</p><p>Europe<a href=\"https://laohu8.com/S/ICE\">Intercontinental Exchange</a>Brent crude futures for November delivery rose 9 cents, or 0.1%, to close at $73.60 a barrel.</p><p><b>5. On Tuesday, gold futures stood at the $1,800 mark, and palladium fell below $2,000</b></p><p>Data showed US inflation rose to a seven-month low in August, causing the US dollar to weaken and giving support to gold prices. In the end, gold futures for December delivery rose $12.70, or 0.7%, to close at $1,807.10 an ounce on the New York Mercantile Exchange.</p><p>International macro</p><p><b>1. Pandemic ravages income decline U.S. poverty rate rebounds from 60-year low</b></p><p>The COVID-19 pandemic plunged the U.S. economy in 2020 and caused millions of people to lose their jobs. While the country's income declined, the poverty rate also picked up from its lowest point in 60 years.</p><p>The inflation-adjusted median resident income fell 2.9% to $67,500 last year, according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate, which declined for five consecutive years and reached its lowest level since 1959 in 2019, rose to 11.4%.</p><p><b>2. Widespread power outages caused by Hurricane Nicholas The Texas oil pipeline connecting the east coast was shut down</b></p><p>North America's largest gasoline pipeline halted gasoline deliveries from Texas to the East Coast after Hurricane Nicholas knocked out power to nearly half a million homes and businesses. Power outages caused after the hurricane made landfall early Tuesday morning disrupted operations at a natural gas export terminal 70 miles south of Houston. Docks along the Texas coast are closed, and the U.S. Coast Guard is assessing conditions in the seaways.</p><p><b>3. Commodity shipping rates hit the biggest one-day increase in a decade due to strong demand for raw materials</b></p><p>The average rate for Capesize bulkers carrying commodities such as coal and iron ore rose $6,700 on Monday, the biggest daily increase since 2010, as shipowners continued to benefit from strong demand for raw materials. The rate extended its rally on Tuesday, rising to an 11-year high of nearly $53,700, according to Baltic Exchange data.</p><p><b>4. The exhaust gas filter of the nuclear sewage treatment plant of Fukushima Daiichi Nuclear Power Plant in Japan is almost completely broken</b></p><p>Twenty-four out of a total of 25 exhaust gas filters of the \"multi-nuclide removal equipment\" used to filter radioactive materials from nuclear sewage at Fukushima Daiichi Nuclear Power Plant were damaged, Tokyo Electric Power Company reported at a meeting of the Japan Atomic Energy Regulatory Commission.</p><p><b>5. UN report calls for adjustment of global agricultural support policies worth $470 billion</b></p><p>The Food and Agriculture Organization of the United Nations released news on September 14th that the latest report \"Billions of Dollars of Opportunities: Recalibrating Agricultural Support to Transform Food Systems\" jointly released by the Food and Agriculture Organization of the United Nations (FAO), the United Nations Development Program (UNDP) and the United Nations Environment Programme (UNEP) calls for adjustments to agricultural support policies worth $470 billion annually worldwide, which lead to price distortions and destroy the environment and society. Thereby promoting the achievement of more targets under the 2030 Sustainable Development Goals and delivering on the UN Decade of Ecosystem Restoration plan.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167855774\" target=\"_blank\"><b>Apple closed down nearly 1% on Tuesday Media said the new product launch was not amazing</b></a></p><p>Apple's shares closed down 0.96% at $148.12 on Tuesday, after falling more than 1.5% during the session, and its latest market value was $2.4 trillion. The media said there was nothing amazing about the company's autumn new product launch.</p><p>Apple's autumn conference was held at 1: 00 a.m. Beijing time on the 15th. The iPhone 13 Series mobile phones with smaller bangs, the Apple Watch Series 7 with no \"square\" change, the iPad mini with 5G support and other products were all unveiled. However, the conference did not mention the new AirPods wireless Bluetooth headset or the rumored low-orbit satellite communication function that the outside world had previously expected.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167162554\" target=\"_blank\"><b>U.S. Sen. Warren urges Fed to break up Wells Fargo</b></a></p><p>U.S. Senator Elizabeth Warren has urged the Federal Reserve to separate Wells Fargo's banking unit from its financial services business, according to Bloomberg. This month, Wells Fargo was subject to new regulatory measures and was fined $250 million.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167554998\" target=\"_blank\"><b>Google was heavily fined by South Korea for allegedly abusing market dominance</b></a></p><p>Xinhua News Agency, Seoul, Sept. 14 (Reporter Lu Rui Du Baiyu) The Korean Fair Trade Commission announced on the 14th that it decided to fine Google 207.4 billion won (about 177 million US dollars) for allegedly abusing its dominant market position.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167879550\" target=\"_blank\"><b>Swiss sports data giant Sportradar lands on Nasdaq IPO first day break closes down more than 7%</b></a></p><p>Swiss sports data giant Sportradar, which owns American basketball superstar Michael Jordan as a shareholder, landed on the Nasdaq on Tuesday, with Jordan ringing the bell in person. The stock opened flat but then broke, swinging lower in the session, falling close to 10% at one point.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167395557\" target=\"_blank\"><b>Global Star plunged 20%, Apple launch conference did not mention low-orbit satellite communication function</b></a></p><p>Satellite communication service provider<a href=\"https://laohu8.com/S/GSAT\">Global Star</a>(GlobalStar) plunged more than 20% in the session on Tuesday,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company did not mention the previously rumored low-orbit satellite communication function in the autumn conference.<a href=\"https://laohu8.com/S/601162\">Tianfeng Securities</a>Analyst Ming-Chi Kuo predicted before Apple's press conference that the hardware specifications of iPhone 13 can support low-orbit satellite communication. If Apple turns on related software functions, users can also talk and communicate through satellite communication when they are not covered by 4G/5G. In terms of technology and service coverage, Globalstar is the most likely low-orbit satellite service provider to cooperate with Apple.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167554032\" target=\"_blank\"><b>Amazon CEO: Amazon is ambitious in the entertainment market, streaming is off to a good start</b></a></p><p>In the early morning of September 15th, Beijing time, it was reported that Amazon CEO Andy Jassy said on Tuesday that Amazon is ambitious in the entertainment market, including from live sports broadcasting to providing original content for Prime subscribers, and it is just the beginning. Jassy said in an interview with the media: \"Amazon's development in the media field is still in the early stage. We have made a good start, and we also believe that there is an opportunity to provide customers with a unique viewing experience with truly original and creative content.\"</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167568113\" target=\"_blank\"><b>Goldman Sachs Appoints New CFO, Solomon as CEO to First Senior Change</b></a></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It was announced on Tuesday that Denis Coleman, who has been co-heading the global financing business in the investment banking department since 2018, will be appointed as chief financial officer (CFO), replacing the current CFO Stephen Scherr, who stepped down at the end of this year, from January 1 next year. This is the first time that Goldman Sachs CEO Solomon has replaced his senior leadership team since he took charge of Goldman Sachs in October 2018. Scherr was one of the investment bankers promoted after Solomon took office, and John Waldron, the current president and chief operating officer of Goldman Sachs, was also an executive promoted after Solomon took office.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","USO":"美国原油ETF","UCO":"二倍做多彭博原油ETF","DWT":"三倍做空原油ETN","UDOW":"三倍做多道指30ETF-ProShares","DJX":"1/100道琼斯","SCO":"二倍做空彭博原油指数ETF",".DJI":"道琼斯","AAPL":"苹果","DDG":"ProShares做空石油与天然气ETF","DDM":"2倍做多道指ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares","DOG":"道指ETF-ProShares做空"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142821280","content_text":"摘要：美股全线收跌，纳指连续第五个交易日下滑；热门中概普跌，网易跌超4%；苹果收跌近1%，媒体称新品发布会并无惊艳之处；瑞士体育数据巨头Sportradar IPO首日破发收跌逾7%。\n\n1、美股周二收跌，纳指连跌五日\n美股周二收跌，道指下跌290点，纳指录得连续第五个交易日下滑。美国8月核心CPI同比上涨4%，符合市场预期，较7月数据略有回落。市场同时还在关注美国民主党提出的加税方案。截至收盘，道琼斯指数跌0.84%，标普500指数跌0.57%，纳斯达克指数跌0.45%。\n热门中概股周二收盘普跌，网易跌超4%，消息称网易将缩减部分游戏项目规模。\n2、热门中概股周二收盘普跌 网易跌超4%\n其他中概股方面，中国铝业跌超6%，网易、新东方跌超4%，好未来跌近4%，携程、阿里巴巴跌超3%，京东跌近3%，拼多多跌超2%，哔哩哔哩、百度、欢聚集团、雾芯科技跌超1%。新能源汽车股中，理想汽车涨近1%，蔚来汽车跌超1%，小鹏汽车涨近0.3%。\n3、美通胀数据前夕 欧股指数小幅下跌\n欧股收盘主要指数多数收跌，德国DAX30指数涨0.14%，法国CAC40指数跌0.36%，英国富时100指数跌0.47%，欧洲斯托克50指数涨0.06%。\n4、美国原油期货收盘几乎持平 维持在6周高位\n因市场对热带风暴尼古拉斯登陆墨西哥湾区造成原油和天然气生产中断的担忧有所缓解。最终，纽约商品交易所10月交割的西德州中质原油（WTI）期货价格上涨1美分，收于每桶70.46美元。\n欧洲洲际交易所11月交割的布伦特原油期货价格上涨9美分，涨幅0.1%，收于每桶73.60美元。\n5、周二黄金期货站上1800美元关口 钯金跌破2000美元\n数据显示美国8月份的通胀涨幅创7个月来新低，导致美元走软，使金价得到支撑。最终，纽约商品交易所12月交割的黄金期货价格上涨12.70美元，涨幅0.7%，收于每盎司1807.10美元。\n国际宏观\n1、疫情肆虐收入下降 美国贫困率从60年低点反弹\n新冠疫情令美国经济在2020年陷入颠并导致千百万人失业，该国居民收入下降的同时，贫困率也从60年以来的最低点回升。\n美国普查局周二发布的年度数据显示，去年经通胀调整的居民收入中位数减少了2.9%至67500美元。 连续五年下降并在2019年达到1959年以来最低位的贫困率则上升至11.4%。\n2、飓风尼古拉斯导致大范围停电 德州连接东海岸的输油管线被关闭\n在飓风尼古拉斯导致近50万家庭和商户停电后，北美最大的汽油管道停止了从德克萨斯州向东海岸的汽油输送。飓风周二凌晨登陆后导致的停电令休斯顿以南70英里一处天然气出口终端的运营受到破坏。德州海岸沿线的码头都处于关闭状态，美国海岸警卫队正在评估海道状况。\n3、大宗商品船运价创下十年来最大单日涨幅 因原材料需求旺盛\n运送煤炭和铁矿石等大宗商品的好望角型散货船平均运价周一上涨6，700美元，创2010年以来最大单日涨幅，因船东继续从强劲的原材料需求中受益。波罗的海交易所数据显示，该运价在周二延续涨势，一度升至近53，700美元的11年来最高水平。\n4、日本福岛第一核电站核污水处理装置废气滤网几近全坏\n日本东京电力公司在日本原子能规制委员会会议上汇报称，福岛第一核电站用于过滤核污水中放射性物质的“多核素去除设备”的总计25个废气滤网有24个发生破损。\n5、联合国报告呼吁调整全球价值4700亿美元的农业扶持政策\n联合国粮农组织9月14日发布消息称，由联合国粮食及农业组织 (FAO)、联合国开发计划署 (UNDP) 和联合国环境规划署 (UNEP) 联合发布的《价值数十亿美元的机会：重新调整农业支持来改造粮食系统》最新报告呼吁对全球每年价值4700亿美元，导致价格扭曲，破坏环境社会的农业扶持政策进行调整。从而推动实现2030年可持续发展目标下的更多具体目标，并兑现“联合国生态系统恢复十年”计划。\n公司新闻\n1、苹果周二收跌近1% 媒体称新品发布会并无惊艳之处\n苹果公司周二股价收盘下跌0.96%，报148.12美元，盘中一度跌逾1.5%，最新市值2.4万亿美元。媒体称该公司秋季新品发布会并无惊艳之处。\n苹果公司秋季发布会于北京时间15日凌晨1点召开，刘海变小的iPhone 13系列手机、没有变“方”的Apple Watch Series 7、支持5G的iPad mini等产品悉数亮相，但发布会并未提及此前外界期待的新款AirPods无线蓝牙耳机或传言的低轨卫星通讯功能。\n2、美参议员沃伦敦促美联储拆分富国银行\n据彭博社消息，美国参议员沃伦(Elizabeth Warren)敦促美联储将富国银行的银行部门与其金融服务业务拆分开。本月，富国银行受到新的监管措施，并被处以2.5亿美元罚款。\n3、谷歌因涉嫌滥用市场支配地位遭韩国重罚\n新华社首尔9月14日电（记者陆睿 杜白羽）韩国公平交易委员会14日宣布，因谷歌涉嫌滥用市场支配地位，决定对其处以2074亿韩元（约合1.77亿美元）罚款。\n4、瑞士体育数据巨头Sportradar登陆纳斯达克 IPO首日破发收跌逾7%\n拥有美国篮球巨星迈克尔-乔丹作为股东的瑞士体育数据巨头Sportradar周二登陆纳斯达克，乔丹亲临敲钟现场。该股开盘持平但随后破发，盘中震荡走低，跌幅一度接近10%。\n5、全球星暴跌20%，苹果发布会未提及低轨卫星通讯功能\n卫星通信服务提供商全球星（GlobalStar）周二盘中暴跌超20%，苹果公司在秋季发布会中没有提及此前传言的低轨卫星通讯功能。天风证券分析师郭明錤在苹果发布会前曾预测，iPhone 13硬件规格可支援低轨道卫星通讯，若苹果开启相关软件功能，则当使用者不在4G/5G覆盖范围内时，也能透过卫星通讯通话与传讯。就技术与服务覆盖率来看，最有可能与苹果合作的低轨道卫星服务业者为Globalstar。\n6、亚马逊CEO：亚马逊在娱乐市场雄心勃勃，流媒体开端很好\n北京时间9月15日凌晨消息，据报道，亚马逊CEO安迪·贾西（Andy Jassy）周二表示，亚马逊在娱乐市场雄心勃勃，包括从体育直播到为Prime订户提供原创内容，而目前还只是个开始。贾西在接受媒体采访时称：“亚马逊在媒体领域的发展还处于早期阶段。我们已经有了一个很好的开端，我们还相信，有机会用真正原创和有创意的内容，为客户提供独特的观看体验。”\n7、高盛任命新CFO，所罗门任CEO来高层首次换将\n高盛本周二宣布，任命2018年以来在投资银行部联合主管全球融资业务的Denis Coleman任首席财务官（CFO），从明年1月1日起接替今年末卸任的现任CFO Stephen Scherr。这是高盛CEO所罗门2018年10月执掌高盛以来他打造的高层领导班子首次出现人员替换。Scherr是Solomon走马上任后升职的投资银行家之一，现任高盛总裁兼首席运营官John Waldron也是所罗门上台后晋升的高管。","news_type":1,"symbols_score_info":{"UDOW":0.9,"CLmain":0.9,"AAPL":0.9,"DDM":0.9,"DJX":0.9,"SCO":0.9,"DUG":0.9,"UWTIF":0.9,"UCO":0.9,"DOG":0.9,"BZmain":0.9,"USO":0.9,".DJI":0.9,"DDG":0.9,"DWTIF":0.9,"SDOW":0.9,"DXD":0.9,"DWT":0.9,"YMmain":0.9,"QMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":4371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883655317,"gmtCreate":1631239453339,"gmtModify":1676530505491,"author":{"id":"4089375162568130","authorId":"4089375162568130","name":"wcc","avatar":"https://static.tigerbbs.com/70e3cf060b328e4ecd4cf14918755ebf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375162568130","authorIdStr":"4089375162568130"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883655317","repostId":"1119421769","repostType":2,"isVote":1,"tweetType":1,"viewCount":3956,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
