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2021-06-20

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Answering the great inflation question of our time

2021-06-24

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2021-06-29

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The S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years

2021-06-27

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5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021

2021-06-30

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Stocks look way overdue for at least a 5% pullback, based on history

2021-06-29

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Toplines Before US Market Open on Tuesday

2021-06-26

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3 Stocks You Can Keep Forever

2021-06-23

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2021-06-22

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Futures Steady Ahead Of Powell Testimony

2021-06-21

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Bitcoin Falls to Two-Week Low as China Cracks Down on Crypto

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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>Stocks look way overdue for at least a 5% pullback, based on history</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\">\nStocks look way overdue for at least a 5% pullback, based on history\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a pullback, according to CFRA.\nThe economy continues to rebound from the pandemic, the Federal ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1174683579","content_text":"While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a pullback, according to CFRA.\nThe economy continues to rebound from the pandemic, the Federal Reserve is sticking with its easy policies, interest rates are remaining low and investors appear to be dismissing inflation as a threat. The S&P 500 is closing out the first half of the year with a 14% gain.\nHowever, based on historical data from CFRA, the current market backdrop appears ripe for a pullback.\n“History says, but does not guarantee, that even though CFRA projects the S&P 500 to climb toward 4,444 by year-end, the S&P 500 is overdue for a decline in excess of 5%,” Sam Stovall, chief investment strategist at CFRA.\n\nAs of June 25, the S&P 500 has gone 275 calendar days since its last decline of 5% or more, which took place before the election in September when the 500-stock index lost nearly 10%.\nCFRA notes that since 1945, there have been 60 pullbacks (decline of 5%-9.9%), 23 corrections (declines of 10%-19.9%) and 13 bear markets (declines of 20% or more). The average timespan between these declines is 178 calendar days, making the current stretch the 19th longest since WWII.","news_type":1},"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159227674,"gmtCreate":1624971626898,"gmtModify":1703849085417,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159227674","repostId":"1128482198","repostType":4,"repost":{"id":"1128482198","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624968506,"share":"https://ttm.financial/m/news/1128482198?lang=&edition=fundamental","pubTime":"2021-06-29 20:08","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1128482198","media":"Tiger Newspress","summary":"U.S. futures drift after tech drives U.S. gauges to records\n\n\nTreasuries steady; oil dips as gold he","content":"<ul>\n <li>U.S. futures drift after tech drives U.S. gauges to records</li>\n</ul>\n<ul>\n <li>Treasuries steady; oil dips as gold heads for monthly drop</li>\n</ul>\n<p>Stocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.</p>\n<p>At 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&amp;P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a935accd8480c3f8c58f58577a4c7c3\" tg-width=\"1080\" tg-height=\"401\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p>\n<p>Morgan Stanley&nbsp;jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.</p>\n<p>JPMorgan Chase &amp; Co&nbsp;and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.</p>\n<p>A reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.</p>\n<p><b>Stocks making the biggest moves in the premarket:</b></p>\n<p><b>Big banks</b> –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and&nbsp;Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.</p>\n<p><b>Facebook&nbsp;(FB)</b> – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.</p>\n<p><b>Tesla&nbsp;(TSLA)</b> – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.</p>\n<p><b>Boeing&nbsp;(BA)</b> – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.</p>\n<p><b>FactSet&nbsp;(FDS)</b> – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.</p>\n<p><b>Herman Miller&nbsp;(MLHR)</b> – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.</p>\n<p><b>Jefferies Financial&nbsp;(JEF)</b> – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.</p>\n<p><b>XPO Logistics&nbsp;(XPO)</b> – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.</p>\n<p><b>Herbalife Nutrition&nbsp;(HLF)</b> – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.</p>\n<p><b>General Electric&nbsp;(GE)</b> – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.</p>\n<p><b>Textron&nbsp;(TXT)</b> – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.</p>\n<p><b>FedEx&nbsp;(FDX)</b> – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.</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>Toplines Before US Market Open on Tuesday</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\">\nToplines Before US Market Open on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-29 20:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. futures drift after tech drives U.S. gauges to records</li>\n</ul>\n<ul>\n <li>Treasuries steady; oil dips as gold heads for monthly drop</li>\n</ul>\n<p>Stocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.</p>\n<p>At 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&amp;P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a935accd8480c3f8c58f58577a4c7c3\" tg-width=\"1080\" tg-height=\"401\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p>\n<p>Morgan Stanley&nbsp;jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.</p>\n<p>JPMorgan Chase &amp; Co&nbsp;and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.</p>\n<p>A reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.</p>\n<p><b>Stocks making the biggest moves in the premarket:</b></p>\n<p><b>Big banks</b> –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and&nbsp;Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.</p>\n<p><b>Facebook&nbsp;(FB)</b> – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.</p>\n<p><b>Tesla&nbsp;(TSLA)</b> – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.</p>\n<p><b>Boeing&nbsp;(BA)</b> – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.</p>\n<p><b>FactSet&nbsp;(FDS)</b> – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.</p>\n<p><b>Herman Miller&nbsp;(MLHR)</b> – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.</p>\n<p><b>Jefferies Financial&nbsp;(JEF)</b> – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.</p>\n<p><b>XPO Logistics&nbsp;(XPO)</b> – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.</p>\n<p><b>Herbalife Nutrition&nbsp;(HLF)</b> – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.</p>\n<p><b>General Electric&nbsp;(GE)</b> – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.</p>\n<p><b>Textron&nbsp;(TXT)</b> – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.</p>\n<p><b>FedEx&nbsp;(FDX)</b> – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利","WFC":"富国银行",".SPX":"S&P 500 Index","TSLA":"特斯拉","GE":"GE航空航天",".DJI":"道琼斯","BA":"波音",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128482198","content_text":"U.S. futures drift after tech drives U.S. gauges to records\n\n\nTreasuries steady; oil dips as gold heads for monthly drop\n\nStocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.\nAt 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.\n*Source From Tiger Trade, EST 08:05\nMorgan Stanley jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.\nJPMorgan Chase & Co and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.\nA reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.\nStocks making the biggest moves in the premarket:\nBig banks –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.\nFacebook (FB) – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.\nTesla (TSLA) – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.\nBoeing (BA) – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.\nFactSet (FDS) – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.\nHerman Miller (MLHR) – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.\nJefferies Financial (JEF) – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.\nXPO Logistics (XPO) – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.\nHerbalife Nutrition (HLF) – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.\nGeneral Electric (GE) – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.\nTextron (TXT) – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.\nFedEx (FDX) – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150500583,"gmtCreate":1624919371242,"gmtModify":1703847713370,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/150500583","repostId":"1143737614","repostType":4,"repost":{"id":"1143737614","kind":"news","pubTimestamp":1624894513,"share":"https://ttm.financial/m/news/1143737614?lang=&edition=fundamental","pubTime":"2021-06-28 23:35","market":"fut","language":"en","title":"The S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years","url":"https://stock-news.laohu8.com/highlight/detail?id=1143737614","media":"Bloomberg","summary":"The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses th","content":"<p>The ratio of the S&amp;P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/069c8eaa303d1a01ad0421a13eb9731b\" tg-width=\"1309\" tg-height=\"830\"><span>Bloomberg</span></p>\n<p>This simple chart tells a great story about fear and greed.&nbsp; Optimism and pessimism.</p>\n<p>When people are feeling good, they bet on humans and companies. When people are fearful, they buy the yellow metal, which has been a store&nbsp;of value for thousands of years. It doesn’t do anything, really, other than exist.</p>\n<p>Of course it peaked in the late `90s, when the world was bursting with optimism. It wasn’t just the dotcom boom that was happening, but that was also peak “end of history” times. Then the bubble burst.&nbsp;And not long thereafter, the attacks on Sept. 11, 2001, happened&nbsp;and&nbsp;led to years of war, causing the ratio to sink for a long time&nbsp;before going into freefall during the Great Financial Crisis. It only bottomed and started turning around in late 2011, which was when housing and other measures, like real wage growth, started to turn around.</p>\n<p>The recent peak was in 2018, the last time emerging market stocks were soaring. That ultimately started giving way, however, after some higher-than-expected inflation readings and a series of Fed hikes throughout that year that caused the 2019 backtrack.</p>\n<p>Obviously, the line plunged last year when the pandemic hit, and lately it’s been surging back. It’s well above its pre-crisis highs, and now as we see it’s on the verge of eclipsing 2018’s peak.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 23:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.\nBloomberg\nThis simple chart tells a great story ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143737614","content_text":"The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.\nBloomberg\nThis simple chart tells a great story about fear and greed.  Optimism and pessimism.\nWhen people are feeling good, they bet on humans and companies. When people are fearful, they buy the yellow metal, which has been a store of value for thousands of years. It doesn’t do anything, really, other than exist.\nOf course it peaked in the late `90s, when the world was bursting with optimism. It wasn’t just the dotcom boom that was happening, but that was also peak “end of history” times. Then the bubble burst. And not long thereafter, the attacks on Sept. 11, 2001, happened and led to years of war, causing the ratio to sink for a long time before going into freefall during the Great Financial Crisis. It only bottomed and started turning around in late 2011, which was when housing and other measures, like real wage growth, started to turn around.\nThe recent peak was in 2018, the last time emerging market stocks were soaring. That ultimately started giving way, however, after some higher-than-expected inflation readings and a series of Fed hikes throughout that year that caused the 2019 backtrack.\nObviously, the line plunged last year when the pandemic hit, and lately it’s been surging back. It’s well above its pre-crisis highs, and now as we see it’s on the verge of eclipsing 2018’s peak.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124438745,"gmtCreate":1624778470987,"gmtModify":1703845048190,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124438745","repostId":"2146090006","repostType":4,"repost":{"id":"2146090006","kind":"highlight","pubTimestamp":1624755315,"share":"https://ttm.financial/m/news/2146090006?lang=&edition=fundamental","pubTime":"2021-06-27 08:55","market":"us","language":"en","title":"5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2146090006","media":"Motley Fool","summary":"These growth and value stocks are begging to be bought by investors.","content":"<p>When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking the reins of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) in the mid-1960s, Buffett's company has averaged an annual return of 20%. This works out to an aggregate gain of greater than 2,800,000% for its Class A shares.</p>\n<p>Although Buffett isn't perfect, he and his investing team have a knack for identifying attractively valued businesses that have clear competitive advantages. As we prepare to move into the second half of 2021, the following five Buffett stocks stand out as those that should be bought hand over fist.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1077c8372814d2b8150e933b4c608005\" tg-width=\"700\" tg-height=\"466\"><span>Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.</span></p>\n<h2>Amazon</h2>\n<p>Even though Buffett's investing lieutenants, Todd Combs and Ted Weschler, are the architects behind Berkshire Hathaway's stake in <b>Amazon</b> (NASDAQ:AMZN), it's arguably the Buffett stock that should be bought most aggressively ahead of the second half of the year.</p>\n<p>As most folks probably know, Amazon is an e-commerce juggernaut. Based on an April report from eMarketer, the company effectively controls $0.40 of every $1 spent online in the United States. It's also pivoted its online retail popularity into signing up more than 200 million people to its Prime program worldwide. The fees Amazon collects from Prime help it to undercut its competition on price. And it certainly doesn't hurt that Prime members tend to spend many multiples more than non-Prime shoppers during the course of the year.</p>\n<p>But it's the company's cloud infrastructure service, Amazon Web Services (AWS), that has truly budded into a star. Since the operating margins associated with cloud infrastructure are considerably higher than what Amazon nets from retail and advertising, AWS' growth is leading to a surge in operating cash flow. If investors were to continue to pay the midpoint of Amazon's operating cash flow multiple over the past decade, it could hit $10,000 a share by 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b18b49b2b35da2fc49e0a83b883d1c22\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Bristol Myers Squibb</h2>\n<p>Pharmaceutical stocks are money machines, and none looks to be more attractive on a valuation basis than <b>Bristol Myers Squibb</b> (NYSE:BMY).</p>\n<p>One reason to be excited about this drug developer is its organic growth potential. Eliquis, which was co-developed with <b>Pfizer</b>, has blossomed into the world's leading oral anticoagulant, with sales expected to surpass $10 billion in 2021. Meanwhile, dozens of additional clinical trials are underway for cancer immunotherapy Opdivo, which generated $7 billion in sales last year. This offers plenty of opportunity to expand Opdivo's label and pump up its pricing power.</p>\n<p>Another reason Bristol Myers Squibb is such an intriguing stock is its November 2019 acquisition of cancer and immunology company Celgene. Buying Celgene brought the blockbuster multiple-myeloma drug Revlimid into the fold. Revlimid has sustainably grown its annual sales by a double-digit percentage for more than a decade, with label expansion, longer duration of use, and pricing power all playing a role. This key treatment, which topped $12 billion in sales last year, is protected from a full onslaught of generic competition until early 2026. That means Bristol Myers will be rolling in the dough for another five years, at minimum.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b152e369d7c967dcbc926192ee888c1\" tg-width=\"700\" tg-height=\"531\"><span>Image source: Getty Images.</span></p>\n<h2>Mastercard</h2>\n<p>Everyone seems to be looking for the smartest recovery play from the pandemic. Payment processor <b>Mastercard</b> (NYSE:MA) might well be the safest way to take advantage of a steady uptick in consumer and enterprise spending.</p>\n<p>Mastercard isn't a cheap stock by any means -- at 36 times Wall Street's forward-year earnings consensus -- but it benefits from a simple numbers game. While economic contractions and recessions are inevitable, these periods of turbulence tend to be short-lived. By comparison, economic expansions often last many years. Buying into Mastercard allows investors to take full advantage of these long periods of economic expansion and robust spending. Plus, it doesn't hurt that Mastercard has the second-highest share of credit-card network purchase volume in the U.S., the leading market for consumption.</p>\n<p>Investors can also sleep easy with the understanding that Mastercard strictly sticks to payment facilitation. Even though some of its peers also lend, and are therefore able to generate interest income and fees during bull markets, Mastercard has avoided becoming a lender. It's something you'll truly appreciate when a recession strikes. Whereas most financial stocks will be forced to set aside capital to cover credit or loan delinquencies, Mastercard won't have to. This is a big reason it bounces back from recessions quicker than most financial stocks.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4e1a1fe028efa4c966b66ef2cd466f5\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Teva Pharmaceutical Industries</h2>\n<p>If you have an appetite for turnaround plays, brand-name and generic-drug developer <b>Teva Pharmaceutical Industries</b> (NYSE:TEVA) is the stock to buy hand over fist for the second half of 2021. Like Amazon, it's a stock that was added to Berkshire Hathaway's portfolio by either Combs or Weschler and not Buffett.</p>\n<p>While there's no denying that Teva has its fair share of hurdles to overcome, the company's turnaround-focused CEO, Kare Schultz, has been a blessing. Since taking the helm less than four years ago, Schultz has helped shave off more than $10 billion in net debt, and he's overseen the reduction of roughly $3 billion in annual operating expenses. There's more work to do to improve Teva's balance sheet, but the company is very clearly on much firmer ground than it was back in 2016-2017.</p>\n<p>Schultz also has the potential to play peacemaker for a number of outstanding lawsuits targeting Teva's role in the opioid crisis. If this litigation can be resolved with minimal cash outlay, Teva's valuation could soar. At just 4 times the company's projected earnings in 2021, Teva is about as cheap as a healthcare stock can get.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44a30c4dfd6886a29e22d3c6558c3e56\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Bank of America</h2>\n<p>Lastly, bank stock <b>Bank of America</b> (NYSE:BAC) has the look of a company that can be confidently bought hand over fist for the second half of 2021.</p>\n<p>For much of the past decade, the Federal Reserve has kept interest rates at or near historic lows. That's meant less in the way of interest income for banks. But the latest update from the nation's central bank suggests that interest rates could begin creeping up in 2023, a year earlier than previously forecast. Bank of America is the most interest-sensitive money-center bank. According to its first-quarter investor presentation, BofA would generate $8.3 billion in net interest income on a 100-basis-point shift in the interest rate yield curve. Translation: Bank of America's profits should rocket higher beginning in 2023-2024.</p>\n<p>At the same time, BofA has done an outstanding job of controlling its costs and improving its operating efficiency. Investments in digitization have resulted in higher mobile app and digital banking use, which is allowing the company to consolidate some of its branches. Even with its shares at a 13-year high, Bank of America has plenty left in the tank.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021</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\">\n5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","AMZN":"亚马逊","BMY":"施贵宝","BRK.B":"伯克希尔B","TEVA":"梯瓦制药","BRK.A":"伯克希尔","MA":"万事达"},"source_url":"https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146090006","content_text":"When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking the reins of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) in the mid-1960s, Buffett's company has averaged an annual return of 20%. This works out to an aggregate gain of greater than 2,800,000% for its Class A shares.\nAlthough Buffett isn't perfect, he and his investing team have a knack for identifying attractively valued businesses that have clear competitive advantages. As we prepare to move into the second half of 2021, the following five Buffett stocks stand out as those that should be bought hand over fist.\nBerkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.\nAmazon\nEven though Buffett's investing lieutenants, Todd Combs and Ted Weschler, are the architects behind Berkshire Hathaway's stake in Amazon (NASDAQ:AMZN), it's arguably the Buffett stock that should be bought most aggressively ahead of the second half of the year.\nAs most folks probably know, Amazon is an e-commerce juggernaut. Based on an April report from eMarketer, the company effectively controls $0.40 of every $1 spent online in the United States. It's also pivoted its online retail popularity into signing up more than 200 million people to its Prime program worldwide. The fees Amazon collects from Prime help it to undercut its competition on price. And it certainly doesn't hurt that Prime members tend to spend many multiples more than non-Prime shoppers during the course of the year.\nBut it's the company's cloud infrastructure service, Amazon Web Services (AWS), that has truly budded into a star. Since the operating margins associated with cloud infrastructure are considerably higher than what Amazon nets from retail and advertising, AWS' growth is leading to a surge in operating cash flow. If investors were to continue to pay the midpoint of Amazon's operating cash flow multiple over the past decade, it could hit $10,000 a share by 2025.\nImage source: Getty Images.\nBristol Myers Squibb\nPharmaceutical stocks are money machines, and none looks to be more attractive on a valuation basis than Bristol Myers Squibb (NYSE:BMY).\nOne reason to be excited about this drug developer is its organic growth potential. Eliquis, which was co-developed with Pfizer, has blossomed into the world's leading oral anticoagulant, with sales expected to surpass $10 billion in 2021. Meanwhile, dozens of additional clinical trials are underway for cancer immunotherapy Opdivo, which generated $7 billion in sales last year. This offers plenty of opportunity to expand Opdivo's label and pump up its pricing power.\nAnother reason Bristol Myers Squibb is such an intriguing stock is its November 2019 acquisition of cancer and immunology company Celgene. Buying Celgene brought the blockbuster multiple-myeloma drug Revlimid into the fold. Revlimid has sustainably grown its annual sales by a double-digit percentage for more than a decade, with label expansion, longer duration of use, and pricing power all playing a role. This key treatment, which topped $12 billion in sales last year, is protected from a full onslaught of generic competition until early 2026. That means Bristol Myers will be rolling in the dough for another five years, at minimum.\nImage source: Getty Images.\nMastercard\nEveryone seems to be looking for the smartest recovery play from the pandemic. Payment processor Mastercard (NYSE:MA) might well be the safest way to take advantage of a steady uptick in consumer and enterprise spending.\nMastercard isn't a cheap stock by any means -- at 36 times Wall Street's forward-year earnings consensus -- but it benefits from a simple numbers game. While economic contractions and recessions are inevitable, these periods of turbulence tend to be short-lived. By comparison, economic expansions often last many years. Buying into Mastercard allows investors to take full advantage of these long periods of economic expansion and robust spending. Plus, it doesn't hurt that Mastercard has the second-highest share of credit-card network purchase volume in the U.S., the leading market for consumption.\nInvestors can also sleep easy with the understanding that Mastercard strictly sticks to payment facilitation. Even though some of its peers also lend, and are therefore able to generate interest income and fees during bull markets, Mastercard has avoided becoming a lender. It's something you'll truly appreciate when a recession strikes. Whereas most financial stocks will be forced to set aside capital to cover credit or loan delinquencies, Mastercard won't have to. This is a big reason it bounces back from recessions quicker than most financial stocks.\nImage source: Getty Images.\nTeva Pharmaceutical Industries\nIf you have an appetite for turnaround plays, brand-name and generic-drug developer Teva Pharmaceutical Industries (NYSE:TEVA) is the stock to buy hand over fist for the second half of 2021. Like Amazon, it's a stock that was added to Berkshire Hathaway's portfolio by either Combs or Weschler and not Buffett.\nWhile there's no denying that Teva has its fair share of hurdles to overcome, the company's turnaround-focused CEO, Kare Schultz, has been a blessing. Since taking the helm less than four years ago, Schultz has helped shave off more than $10 billion in net debt, and he's overseen the reduction of roughly $3 billion in annual operating expenses. There's more work to do to improve Teva's balance sheet, but the company is very clearly on much firmer ground than it was back in 2016-2017.\nSchultz also has the potential to play peacemaker for a number of outstanding lawsuits targeting Teva's role in the opioid crisis. If this litigation can be resolved with minimal cash outlay, Teva's valuation could soar. At just 4 times the company's projected earnings in 2021, Teva is about as cheap as a healthcare stock can get.\nImage source: Getty Images.\nBank of America\nLastly, bank stock Bank of America (NYSE:BAC) has the look of a company that can be confidently bought hand over fist for the second half of 2021.\nFor much of the past decade, the Federal Reserve has kept interest rates at or near historic lows. That's meant less in the way of interest income for banks. But the latest update from the nation's central bank suggests that interest rates could begin creeping up in 2023, a year earlier than previously forecast. Bank of America is the most interest-sensitive money-center bank. According to its first-quarter investor presentation, BofA would generate $8.3 billion in net interest income on a 100-basis-point shift in the interest rate yield curve. Translation: Bank of America's profits should rocket higher beginning in 2023-2024.\nAt the same time, BofA has done an outstanding job of controlling its costs and improving its operating efficiency. Investments in digitization have resulted in higher mobile app and digital banking use, which is allowing the company to consolidate some of its branches. Even with its shares at a 13-year high, Bank of America has plenty left in the tank.","news_type":1},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125439397,"gmtCreate":1624684354619,"gmtModify":1703843622261,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125439397","repostId":"2146107083","repostType":4,"repost":{"id":"2146107083","kind":"highlight","pubTimestamp":1624673250,"share":"https://ttm.financial/m/news/2146107083?lang=&edition=fundamental","pubTime":"2021-06-26 10:07","market":"us","language":"en","title":"3 Stocks You Can Keep Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2146107083","media":"Motley Fool","summary":"A long history of success coupled with bright prospects are the key ingredients for companies you can hold for the long term.","content":"<p>When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As&nbsp;<b>Amazon</b>&nbsp;founder Jeff&nbsp;Bezos&nbsp;believes, the focus should be on what stays the same, as opposed to what we think might change in the future.&nbsp;</p>\n<p>This means that sticking to boring, steady, and predictable companies can be a worthwhile strategy. Fitting this description, here are three stocks you can keep forever.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75b7346a4d92cde9e5d2740346749150\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2>1. Costco Wholesale</h2>\n<p><b>Costco Wholesale</b> (NASDAQ:COST), with its&nbsp;809 warehouses around the world, generated sales of $44.4 billion in the most recent quarter, a 21.7% jump from the prior-year period. As <a href=\"https://laohu8.com/S/AONE\">one</a> of the world's largest retailers, Costco was a mission-critical business during the onset of the coronavirus pandemic. Consumers visited stores to shop for everything from cleaning supplies to food.&nbsp;</p>\n<p>The company's operations haven't changed much over time, and they likely won't anytime soon. Even e-commerce sales, which expanded rapidly over the past&nbsp;year&nbsp;and grew 41.2%&nbsp;in the most recent quarter, are slowing down. During the month of May, online revenue rose&nbsp;just&nbsp;12.1%, signaling&nbsp;that shoppers&nbsp;are able and willing to transact more in person now.&nbsp;</p>\n<p>Costco is a&nbsp;recession-proof business&nbsp;that does well in good and bad economic times, which provides the safety investors want in a forever stock. Moreover, the reliance on membership fees, of which Costco generated $901&nbsp;million&nbsp;last quarter, allows the company to keep prices very low. As of March 31, Costco had 109.8&nbsp;million&nbsp;membership cardholders.&nbsp;</p>\n<p>Costco has and will continue to gain from its relentless focus to pass on savings to customers. This consumer-friendly fixation makes it difficult for rivals to compete and makes the business that much more loved by its shoppers.&nbsp;</p>\n<h2>2. Home Depot</h2>\n<p><b>Home Depot</b>&nbsp;(NYSE:HD) has grown to a $331 billion business because people love to spend on their homes. Again, this facet of human nature will never change, and it was on full display over the past year. Home Depot's revenue in fiscal 2020 increased 19.9%, the fastest annual gain in at least a decade. As consumers spent more time indoors and shifted spending away from travel, entertainment, and leisure, Home Depot benefited greatly.&nbsp;</p>\n<p>And even as we slowly recover from the pandemic, the&nbsp;momentum is still strong. Same-store sales (or comps) in the most recent quarter shot&nbsp;up 31%, continuing an acceleration over the past four quarters. The housing market is on fire, supported by still historically low interest rates and rising home prices, all of which support demand for Home Depot's products.&nbsp;</p>\n<p>The company serves both do-it-yourself (DIY) and professional (Pro) customers. The former outperformed during 2020, but the latter is reemerging as a real growth driver as people require work on bigger projects and are more comfortable allowing contractors into their homes. Additionally, a seamless omnichannel approach allows customers to shop Home Depot in whatever manner they like. In the most recent quarter, 55%&nbsp;of online orders were actually fulfilled at a store.&nbsp;</p>\n<p>Home Depot&nbsp;paid $1.8 billion in dividends in the first quarter, and also bought back $4 billion worth of shares. Focusing on returning excess cash to shareholders further boosts investor returns.&nbsp;</p>\n<h2>3. Starbucks</h2>\n<p><b>Starbucks</b>&nbsp;(NASDAQ:SBUX), the ubiquitous coffeehouse chain with nearly 33,000&nbsp;locations worldwide, is arguably an even more important part of people's daily lives than the previous two&nbsp;companies. Americans (and the rest of the world) need their caffeine fix, and Starbucks is there to deliver.&nbsp;</p>\n<p>The business is&nbsp;back to registering growth in the U.S. following a huge slowdown last year. With 22.9 million&nbsp;active rewards members, Starbucks' top-notch loyalty program encourages repeat business. In the most recent quarter, a whopping 52% of sales at U.S. company-operated stores were from these rewards-program customers.&nbsp;</p>\n<p>You may think there isn't much growth left for this powerful brand that already has stores basically everywhere, but think again. During the investor day presentation last December, CFO Patrick Grismer claimed that by 2030, Starbucks plans to have 55,000 outlets in 100 markets globally. This 67% increase would make it the largest restaurant chain in the world. With revenue of $23.8 billion over the past 12 months, this ambitious goal should certainly boost that number significantly.&nbsp;</p>\n<p>Expect China, where comps soared 91%&nbsp;in the most recent quarter, to be a major growth driver going forward. Starbucks plans to open&nbsp;600&nbsp;net new stores in the country just in this fiscal year.&nbsp;</p>\n<h2>Boring is beautiful&nbsp;</h2>\n<p>All three of these companies are absolutely essential in their customers' lives. Without Costco, Home Depot, or Starbucks, people wouldn't be able to get the things they desperately need. Furthermore, they all benefit from strong competitive advantages that protect them from rival firms.&nbsp;</p>\n<p>In the future, we know with a high level of confidence that the products that these businesses sell will still be in high demand. This is the primary reason why they are three stocks you can keep forever.&nbsp;</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks You Can Keep Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks You Can Keep Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As Amazon founder Jeff Bezos ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SBUX":"星巴克","HD":"家得宝","COST":"好市多"},"source_url":"https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146107083","content_text":"When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As Amazon founder Jeff Bezos believes, the focus should be on what stays the same, as opposed to what we think might change in the future. \nThis means that sticking to boring, steady, and predictable companies can be a worthwhile strategy. Fitting this description, here are three stocks you can keep forever.\nImage source: Getty Images.\n1. Costco Wholesale\nCostco Wholesale (NASDAQ:COST), with its 809 warehouses around the world, generated sales of $44.4 billion in the most recent quarter, a 21.7% jump from the prior-year period. As one of the world's largest retailers, Costco was a mission-critical business during the onset of the coronavirus pandemic. Consumers visited stores to shop for everything from cleaning supplies to food. \nThe company's operations haven't changed much over time, and they likely won't anytime soon. Even e-commerce sales, which expanded rapidly over the past year and grew 41.2% in the most recent quarter, are slowing down. During the month of May, online revenue rose just 12.1%, signaling that shoppers are able and willing to transact more in person now. \nCostco is a recession-proof business that does well in good and bad economic times, which provides the safety investors want in a forever stock. Moreover, the reliance on membership fees, of which Costco generated $901 million last quarter, allows the company to keep prices very low. As of March 31, Costco had 109.8 million membership cardholders. \nCostco has and will continue to gain from its relentless focus to pass on savings to customers. This consumer-friendly fixation makes it difficult for rivals to compete and makes the business that much more loved by its shoppers. \n2. Home Depot\nHome Depot (NYSE:HD) has grown to a $331 billion business because people love to spend on their homes. Again, this facet of human nature will never change, and it was on full display over the past year. Home Depot's revenue in fiscal 2020 increased 19.9%, the fastest annual gain in at least a decade. As consumers spent more time indoors and shifted spending away from travel, entertainment, and leisure, Home Depot benefited greatly. \nAnd even as we slowly recover from the pandemic, the momentum is still strong. Same-store sales (or comps) in the most recent quarter shot up 31%, continuing an acceleration over the past four quarters. The housing market is on fire, supported by still historically low interest rates and rising home prices, all of which support demand for Home Depot's products. \nThe company serves both do-it-yourself (DIY) and professional (Pro) customers. The former outperformed during 2020, but the latter is reemerging as a real growth driver as people require work on bigger projects and are more comfortable allowing contractors into their homes. Additionally, a seamless omnichannel approach allows customers to shop Home Depot in whatever manner they like. In the most recent quarter, 55% of online orders were actually fulfilled at a store. \nHome Depot paid $1.8 billion in dividends in the first quarter, and also bought back $4 billion worth of shares. Focusing on returning excess cash to shareholders further boosts investor returns. \n3. Starbucks\nStarbucks (NASDAQ:SBUX), the ubiquitous coffeehouse chain with nearly 33,000 locations worldwide, is arguably an even more important part of people's daily lives than the previous two companies. Americans (and the rest of the world) need their caffeine fix, and Starbucks is there to deliver. \nThe business is back to registering growth in the U.S. following a huge slowdown last year. With 22.9 million active rewards members, Starbucks' top-notch loyalty program encourages repeat business. In the most recent quarter, a whopping 52% of sales at U.S. company-operated stores were from these rewards-program customers. \nYou may think there isn't much growth left for this powerful brand that already has stores basically everywhere, but think again. During the investor day presentation last December, CFO Patrick Grismer claimed that by 2030, Starbucks plans to have 55,000 outlets in 100 markets globally. This 67% increase would make it the largest restaurant chain in the world. With revenue of $23.8 billion over the past 12 months, this ambitious goal should certainly boost that number significantly. \nExpect China, where comps soared 91% in the most recent quarter, to be a major growth driver going forward. Starbucks plans to open 600 net new stores in the country just in this fiscal year. \nBoring is beautiful \nAll three of these companies are absolutely essential in their customers' lives. Without Costco, Home Depot, or Starbucks, people wouldn't be able to get the things they desperately need. Furthermore, they all benefit from strong competitive advantages that protect them from rival firms. \nIn the future, we know with a high level of confidence that the products that these businesses sell will still be in high demand. This is the primary reason why they are three stocks you can keep forever.","news_type":1},"isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128136719,"gmtCreate":1624505133931,"gmtModify":1703838661994,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/128136719","repostId":"2145156570","repostType":4,"repost":{"id":"2145156570","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624489510,"share":"https://ttm.financial/m/news/2145156570?lang=&edition=fundamental","pubTime":"2021-06-24 07:05","market":"us","language":"en","title":"Tesla lifts Nasdaq to record-high close, S&P 500 dips","url":"https://stock-news.laohu8.com/highlight/detail?id=2145156570","media":"Reuters","summary":"June 23  - The Nasdaq climbed to a record-high close on Wednesday, fueled by a rally in Tesla Inc , while the S&P 500 dipped, even as investors cheered data that showed a record peak for U.S. factory activity in June.Gains in Nvidia Corp and $Facebook$ Inc extended a recent rebound in top-shelf growth stocks that fell out of favor in recent months as investors focused on companies expected to do well as the economy recovers from the pandemic.Data firm IHS $Markit$ said its flash U.S. manufacturi","content":"<p>June 23 (Reuters) - The Nasdaq climbed to a record-high close on Wednesday, fueled by a rally in Tesla Inc , while the S&amp;P 500 dipped, even as investors cheered data that showed a record peak for U.S. factory activity in June.</p>\n<p>Gains in Nvidia Corp and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc extended a recent rebound in top-shelf growth stocks that fell out of favor in recent months as investors focused on companies expected to do well as the economy recovers from the pandemic.</p>\n<p>Data firm IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> said its flash U.S. manufacturing Purchasing Managers' Index rose to a reading of 62.6 this month, beating estimates of 61.5, but manufacturers are still struggling to secure raw materials and qualified workers, substantially raising prices.</p>\n<p>The \"high level of today's surveys will provide some confirmation for the Fed that the time to begin taking its foot off the accelerator is not far away,\" said Jai Malhi, global market strategist at J.P. Morgan Asset Management.</p>\n<p>On Tuesday, Fed Chair Jerome Powell reaffirmed the central bank's intent not to raise interest rates too quickly, based only on the fear of coming inflation.</p>\n<p>Powell's comments follow the Fed's projection a week ago of an increase in interest rates as soon as 2023, sooner than anticipated. Since then, growth stocks, including major tech names like Tesla and Nvidia, have mostly rallied and outperformed value stocks, like banks and materials companies.</p>\n<p>\"People are plowing money into what has worked. People are basically momentum-chasing and they're using the last three years of performance to figure out what to chase,\" said Mike Zigmont, head of trading and research at Harvest Volatility Management in New York.</p>\n<p>Eight of the 11 major S&amp;P sector indexes fell, with utilities down about 1% and leading the way lower, followed by a 0.6% dip in materials .</p>\n<p>Tesla jumped 5.3% after the electric vehicle maker said it had opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa, its first such facility in China. That trimmed the stock's loss in 2021 to about 7%.</p>\n<p>Extending investors' recent preference for growth stocks, the S&amp;P 500 growth index edged up 0.01%, while the value index dipped 0.24%.</p>\n<p>The Dow Jones Industrial Average fell 0.21% to end at 33,874.24 points, while the S&amp;P 500 lost 0.11% to 4,241.84.</p>\n<p>The Nasdaq Composite climbed 0.13% to 14,271.73.</p>\n<p>The S&amp;P 500 has gained about 13% in 2021, while the Nasdaq and Dow are up about 11%.</p>\n<p>Nikola Corp rallied 4.3% after the electric and hydrogen vehicle maker said it is investing $50 million in Wabash Valley Resources LLC to produce clean hydrogen in the U.S. Midwest for its zero-emission trucks.</p>\n<p>Among so-called meme stocks, software firm Alfi Inc tumbled 26% after more than doubling in value in the prior session, while <a href=\"https://laohu8.com/S/TRCH\">Torchlight Energy Resources Inc</a> slumped 30%, tumbling for a second day after announcing an upsized stock offering.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 33 new 52-week highs and no new lows; the Nasdaq Composite recorded 91 new highs and 28 new lows.</p>\n<p>Volume on U.S. exchanges was 9.3 billion shares, compared with the 11.1 billion average over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla lifts Nasdaq to record-high close, S&P 500 dips</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla lifts Nasdaq to record-high close, S&P 500 dips\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-24 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 23 (Reuters) - The Nasdaq climbed to a record-high close on Wednesday, fueled by a rally in Tesla Inc , while the S&amp;P 500 dipped, even as investors cheered data that showed a record peak for U.S. factory activity in June.</p>\n<p>Gains in Nvidia Corp and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc extended a recent rebound in top-shelf growth stocks that fell out of favor in recent months as investors focused on companies expected to do well as the economy recovers from the pandemic.</p>\n<p>Data firm IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> said its flash U.S. manufacturing Purchasing Managers' Index rose to a reading of 62.6 this month, beating estimates of 61.5, but manufacturers are still struggling to secure raw materials and qualified workers, substantially raising prices.</p>\n<p>The \"high level of today's surveys will provide some confirmation for the Fed that the time to begin taking its foot off the accelerator is not far away,\" said Jai Malhi, global market strategist at J.P. Morgan Asset Management.</p>\n<p>On Tuesday, Fed Chair Jerome Powell reaffirmed the central bank's intent not to raise interest rates too quickly, based only on the fear of coming inflation.</p>\n<p>Powell's comments follow the Fed's projection a week ago of an increase in interest rates as soon as 2023, sooner than anticipated. Since then, growth stocks, including major tech names like Tesla and Nvidia, have mostly rallied and outperformed value stocks, like banks and materials companies.</p>\n<p>\"People are plowing money into what has worked. People are basically momentum-chasing and they're using the last three years of performance to figure out what to chase,\" said Mike Zigmont, head of trading and research at Harvest Volatility Management in New York.</p>\n<p>Eight of the 11 major S&amp;P sector indexes fell, with utilities down about 1% and leading the way lower, followed by a 0.6% dip in materials .</p>\n<p>Tesla jumped 5.3% after the electric vehicle maker said it had opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa, its first such facility in China. That trimmed the stock's loss in 2021 to about 7%.</p>\n<p>Extending investors' recent preference for growth stocks, the S&amp;P 500 growth index edged up 0.01%, while the value index dipped 0.24%.</p>\n<p>The Dow Jones Industrial Average fell 0.21% to end at 33,874.24 points, while the S&amp;P 500 lost 0.11% to 4,241.84.</p>\n<p>The Nasdaq Composite climbed 0.13% to 14,271.73.</p>\n<p>The S&amp;P 500 has gained about 13% in 2021, while the Nasdaq and Dow are up about 11%.</p>\n<p>Nikola Corp rallied 4.3% after the electric and hydrogen vehicle maker said it is investing $50 million in Wabash Valley Resources LLC to produce clean hydrogen in the U.S. Midwest for its zero-emission trucks.</p>\n<p>Among so-called meme stocks, software firm Alfi Inc tumbled 26% after more than doubling in value in the prior session, while <a href=\"https://laohu8.com/S/TRCH\">Torchlight Energy Resources Inc</a> slumped 30%, tumbling for a second day after announcing an upsized stock offering.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 33 new 52-week highs and no new lows; the Nasdaq Composite recorded 91 new highs and 28 new lows.</p>\n<p>Volume on U.S. exchanges was 9.3 billion shares, compared with the 11.1 billion average over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NKLA":"Nikola Corporation","IVV":"标普500指数ETF",".SPX":"S&P 500 Index","UPRO":"三倍做多标普500ETF","NDAQ":"纳斯达克OMX交易所","NVDA":"英伟达",".DJI":"道琼斯","INFO":"Harbor PanAgora Dynamic Large Cap Core ETF","TSLA":"特斯拉",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145156570","content_text":"June 23 (Reuters) - The Nasdaq climbed to a record-high close on Wednesday, fueled by a rally in Tesla Inc , while the S&P 500 dipped, even as investors cheered data that showed a record peak for U.S. factory activity in June.\nGains in Nvidia Corp and Facebook Inc extended a recent rebound in top-shelf growth stocks that fell out of favor in recent months as investors focused on companies expected to do well as the economy recovers from the pandemic.\nData firm IHS Markit said its flash U.S. manufacturing Purchasing Managers' Index rose to a reading of 62.6 this month, beating estimates of 61.5, but manufacturers are still struggling to secure raw materials and qualified workers, substantially raising prices.\nThe \"high level of today's surveys will provide some confirmation for the Fed that the time to begin taking its foot off the accelerator is not far away,\" said Jai Malhi, global market strategist at J.P. Morgan Asset Management.\nOn Tuesday, Fed Chair Jerome Powell reaffirmed the central bank's intent not to raise interest rates too quickly, based only on the fear of coming inflation.\nPowell's comments follow the Fed's projection a week ago of an increase in interest rates as soon as 2023, sooner than anticipated. Since then, growth stocks, including major tech names like Tesla and Nvidia, have mostly rallied and outperformed value stocks, like banks and materials companies.\n\"People are plowing money into what has worked. People are basically momentum-chasing and they're using the last three years of performance to figure out what to chase,\" said Mike Zigmont, head of trading and research at Harvest Volatility Management in New York.\nEight of the 11 major S&P sector indexes fell, with utilities down about 1% and leading the way lower, followed by a 0.6% dip in materials .\nTesla jumped 5.3% after the electric vehicle maker said it had opened a solar-powered charging station with on-site power storage in the Tibetan capital Lhasa, its first such facility in China. That trimmed the stock's loss in 2021 to about 7%.\nExtending investors' recent preference for growth stocks, the S&P 500 growth index edged up 0.01%, while the value index dipped 0.24%.\nThe Dow Jones Industrial Average fell 0.21% to end at 33,874.24 points, while the S&P 500 lost 0.11% to 4,241.84.\nThe Nasdaq Composite climbed 0.13% to 14,271.73.\nThe S&P 500 has gained about 13% in 2021, while the Nasdaq and Dow are up about 11%.\nNikola Corp rallied 4.3% after the electric and hydrogen vehicle maker said it is investing $50 million in Wabash Valley Resources LLC to produce clean hydrogen in the U.S. Midwest for its zero-emission trucks.\nAmong so-called meme stocks, software firm Alfi Inc tumbled 26% after more than doubling in value in the prior session, while Torchlight Energy Resources Inc slumped 30%, tumbling for a second day after announcing an upsized stock offering.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored advancers.\nThe S&P 500 posted 33 new 52-week highs and no new lows; the Nasdaq Composite recorded 91 new highs and 28 new lows.\nVolume on U.S. exchanges was 9.3 billion shares, compared with the 11.1 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123321250,"gmtCreate":1624409815370,"gmtModify":1703835747927,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Sure","listText":"Sure","text":"Sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123321250","repostId":"1165385736","repostType":4,"isVote":1,"tweetType":1,"viewCount":331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129118807,"gmtCreate":1624364741209,"gmtModify":1703834435284,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129118807","repostId":"1196246436","repostType":4,"repost":{"id":"1196246436","kind":"news","pubTimestamp":1624364145,"share":"https://ttm.financial/m/news/1196246436?lang=&edition=fundamental","pubTime":"2021-06-22 20:15","market":"us","language":"en","title":"Futures Steady Ahead Of Powell Testimony","url":"https://stock-news.laohu8.com/highlight/detail?id=1196246436","media":"zerohedge","summary":"U.S. stock-index futures were little changed, trading just 1% below their all time high, while globa","content":"<p>U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects for post-pandemic economic growth, putting fears of a hawkish Fed in the rearview mirror even as they awaited Fed Chair Jerome Powell’s testimony before Congress. Nasdaq 100 futures extend increase to as much as 0.3%, the highest for Tuesday’s session, with contracts on the S&amp;P 500 rising 0.1% as of 7:15am in New York.</p>\n<p><img src=\"https://static.tigerbbs.com/ed5a889978f8667ba77c1ed2e40814d0\" tg-width=\"500\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p>\n<p>In premarket trading, meme stock Torchlight Energy Resources jumped 10.5% on heavy volume following a 58% surge to a record on Monday, as the company upsized its stock offering after its shares doubled in value last week on interest from individual traders. Other meme stocks trade mostly higher with ContextLogic (WISH) rising 3.3% and Clover Health (CLOV) gaining 1.9%.</p>\n<p>Here are some other notable premarket movers:</p>\n<ul>\n <li>Adial Pharmaceuticals (ADIL) surges 28% in&nbsp;premarket&nbsp;trading after a positive mention of the company in a post on the Seeking Alpha investment site.</li>\n <li>Microvision (MVIS) sinks 9% after saying it may offer from time to time up to $140 million in shares via Craig-Hallum Capital Group.</li>\n <li>Nikola (NKLA) drops 2% after registering shares for potential sale by holder Tumim Stone Capital.</li>\n <li>Crypto stocks including miners Riot Blockchain, Marathon Patent Group, Ebang International and MicroStrategy Inc fell between 2% and 3% as China’s crackdown on bitcoin mining expanded to the province of Sichuan.</li>\n</ul>\n<p>The Dow jumped more than 500 points on Monday following last week’s selloff, its best day since early March, with the largest share of S&amp;P members advancing since April 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/85b1fcb2babcd8957762a4b8fb732918\" tg-width=\"1198\" tg-height=\"672\" referrerpolicy=\"no-referrer\">Market participants piled back into energy, financials and industrial stocks when Fed officials including as St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan toned down their hawkish rhetoric which accelerated last week's rout.</p>\n<p>\"Last week's FOMC meeting was a hawkish surprise, but does not change our market outlook. The reflation trade experienced a sharp technically driven pullback, but we expect the trade to resume and see this move as an opportunity to add exposure to cyclical equities and commodities,\" JPMorgan strategists said in a note.</p>\n<p>European stocks looked set to build on gains in Asian markets as EuroSTOXX 50 futures rose 0.4% and FTSE futures were up 0.3%. Declines in shares of carmakers and banks offset gains in real estate stocks. Europe’s Stoxx 600 travel and leisure subgroup rose as much as 0.8%, making it the second-best performing sector in the benchmark index, after The Times reported that the U.K. is set to announce an overhaul of travel restrictions on Thursday. Here are some of the biggest European movers today:</p>\n<ul>\n <li>Kingspan shares rise as much as 6.1% with Morgan Stanley (equal- weight) saying the key positive from its trading update is the strong margin performance.</li>\n <li>BT shares gain as much as 2.1%, among top performers in the Stoxx Telecom Index, following a report that Rupert Murdoch’s News UK is looking at a tie-up with BT Sport.</li>\n <li>Bossard shares gain as much as 5% to a record high. The company’s business model is “misunderstood” by the market and it is a niche play on the growth of industrial automation, Berenberg writes in a note initiating the stock at buy with a street-high CHF340 PT.</li>\n <li>Casino shares rise as much as 2% after a report saying that retail mogul Micheal Klein started to build a minority position in the Brazilian firm GPA, following a similar move by retailing billionaire Abilio Diniz.</li>\n <li>DS Smith shares fall as much as 3.1% after reporting adjusted operating profit that missed the average analyst estimate.</li>\n</ul>\n<p>MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, moving above Monday's four-week lows and notching a 4% gain so far this year, while the broader MSCI&nbsp;Asia&nbsp;Pacific Index rose 0.9%,<b>putting it on track for its best day since May 25.</b>Japanese shares led the advance in Asia, as investor concerns over the pace of U.S. monetary policy tightening and rising inflation eased. It is now poised to snap four straight days of declines. The buoyant performance comes after Federal Reserve Chair Jerome Powell reiterated overnight that inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. The New York Fed’s president also said that he continues to view the recent spike in inflation as a temporary phenomenon. Cyclical shares recovered from the recent sell-off, with industrials and materials leading the charge.<b>Japanese equities rebounded, with the Topix climbing by the most in one year one day after the BOJ intervened to buy ETFs for the first time since April.</b>Investors largely expect&nbsp;Asia’s&nbsp;stock market to remain resilient despite the prospects of a gradual tapering of global liquidity and a resurgent dollar. Supporting the region’s equities are attractive valuations, falling Covid-19 cases and relatively low levels of bond yields. The stock benchmark remains more than 6% below a record high it reached in February. “We expect&nbsp;Asia&nbsp;to broadly remain on a healthy recovery path” supported by a broad-based growth in exports and industrial output, Alex Wolf, head of investment strategy for&nbsp;Asia&nbsp;at JPMorgan Private Bank, wrote in a note. “We think three factors will be key to watch over the rest of 2021: vaccination progress, exports -- particularly semiconductors, and China’s recovery.”</p>\n<p><b>Today, all eyes will be on Fed Chair Powell, who’s testifying at 2pm ET before the House of Representatives’ Select Subcommittee on the coronavirus crisis,</b>where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “<b>job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.”</b>He also said inflation has “<b>increased notably in recent months” but regarded the recent jump as likely to fade</b>.&nbsp; Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.</p>\n<p>“Powell will repeat that inflation is transitory and will drop back ‘as these transitory supply effects abate’,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “How much time do we have before the supply effects abate is a big question.”</p>\n<p>“There’s probably going to be some back and forth here,” said&nbsp;Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy.<b>“There is a lot of cash on the sidelines right now. Some of that is going to be earmarked to go into the markets, and we think the best place right now to be investing is in the equity markets.”</b></p>\n<p>In rates, 10-year Treasuries steadied, trading at 1.49% last. Yields were richer across the curve, with 5s30s flatter by ~1bp; 10-year around 1.48% outperforms bunds and gilts slightly Regional demand emerged during Asia session, renewing the bull-flattening trend that stalled on Monday. Treasury auctions include $60b 2-year note, followed by 5- and 7-year on Wednesday and Thursday. The WI 2-year yield at ~0.257% is higher than auction stops since March 2020 and 10.5bp cheaper than last month’s, which stopped through by 0.7bp</p>\n<p>In currency markets, the dollar spot Index rose as the greenback traded higher versus all of its Group-of-10 peers and the 10-year Treasury yield hovered around 1.49% The pound fell for a fifth day in six sessions on broad dollar strength and as investors awaited signals on the Bank of England’s inflation outlook on Thursday. Norway’s krone fell to a session low as Brent oil retreated after earlier rising to $75 a barrel for the first time in more than two years. Australia’s currency led losses with iron ore extending Monday’s slump. The yen fell to trade around 110.50; bonds also declined and a five-year auction was weaker than expected.</p>\n<p>\"The whole world was mega short the U.S. dollar, and that's in good part has probably been cleaned out already, and now we take a wee breath before the next move up,\" said Westpac currency analyst Imre Speizer.</p>\n<p>In commodities, WTI was flat at $73.7 per barrel and Brent crude retreated after earlier topping $75/bbl for the first time in more than two years after rising on Monday in reaction the a pause in talks to end U.S. sanctions on Iranian crude. Oil market sentiment was helped by hopes for a quick recovery in oil demand in the United States and Europe. OPEC+ said it was discussing whether to further boost production as the oil market looks increasingly tight. Spot gold added 0.3% to $1,787.61 an ounce.</p>\n<p>Bitcoin sank closer to $30,000 after China intensified its&nbsp;cryptocurrency clampdown.</p>\n<p>Looking at the<b>day ahead</b>now, the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.</p>\n<p><b>Market Snapshot</b></p>\n<ul>\n <li>S&amp;P 500 futures down 0.1% to 4,207.75</li>\n <li>STOXX Europe 600 down -0.3% to 453.94</li>\n <li>MXAP up 0.9% to 206.17</li>\n <li>MXAPJ little changed at 687.97</li>\n <li>Nikkei up 3.1% to 28,884.13</li>\n <li>Topix up 3.2% to 1,959.53</li>\n <li>Hang Seng Index down 0.6% to 28,309.76</li>\n <li>Shanghai Composite up 0.8% to 3,557.41</li>\n <li>Sensex up 0.3% to 52,715.63</li>\n <li>Australia S&amp;P/ASX 200 up 1.5% to 7,342.20</li>\n <li>Kospi up 0.7% to 3,263.88</li>\n <li>Brent Futures down 0.4% to $74.63/bbl</li>\n <li>German 10Y yield rose 2.2 bps to -0.149%</li>\n <li>Euro down 0.2% to $1.1899</li>\n <li>Gold spot down 0.3% to $1,777.25</li>\n <li>U.S. Dollar Index up 0.14% to 92.03</li>\n</ul>\n<p><b>Top Overnight News from Bloomberg</b></p>\n<ul>\n <li>Leveraged funds boosted net dollar shorts by 21,347 contracts in the week ended June 15, the most since mid-January, according to data from the Commodity Futures Trading Commission.</li>\n <li>Germany increased the amount of planned bond sales in the third quarter by 2 billion euros ($2.4 billion) to help cover financing for the ruling coalition’s generous aid programs to offset the impact of the coronavirus pandemic</li>\n <li>China’s intensifying cryptocurrency crackdown has left Bitcoin flirting with $30,000, a price level seen as key to the short-term outlook for the largest virtual currency</li>\n <li>Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter</li>\n <li>Mario Draghi has cemented his position in Italy and his political partners are beginning to assume he’ll remain in power until his term ends in 2023. That is the assessment of half a dozen senior officials from all the main parties and inside the government</li>\n <li>Hungary is set to become the first European Union nation to tighten monetary policy this year, with the central bank widely expected to raise borrowing costs on Tuesday in an attempt to curb surging inflation</li>\n <li>A raft of disappointing economic data from China last week, especially the sluggish recovery in consumption, has prompted economists to cut their estimates for China’s output in 2021.</li>\n</ul>\n<p><i>Quick look at global markets courtesy of Newsquawk</i></p>\n<p><b>Asia-Pac equities staged a rebound from the prior day's sell-off as the region reacted to the rally seen on Wall Street, whereby the DJIA outperformed whilst the Nasdaq’s upside was hindered by the recovery in yields.</b>Overnight, US equity futures traded flat and near the prior session’s best levels ahead of Fed Chair Powell’s testimony – but before that, 2022-voter Mester is poised to make remarks on monetary policy ahead of commentary from 2021-voter Daly. Over in APAC markets, the ASX 200 (+1.5%) was supported by its Telecoms and Financials sectors whilst the Nikkei 225 (+3.1%) trimmed some of the prior session’s hefty losses as reports of BoJ ETF purchases providing Tokyo with some tailwinds. The KOSPI (+0.7%) saw cautious gains as Yonhap reported that South Korea and the US are mulling ending the working group on North Korean policy, whilst North Korea tempered down expectations of dialogue with the US. Hang Seng (-0.6%) and Shanghai Comp (+0.8%) varied with the former pressured after the US reiterated its concern over Hong Kong’s autonomy, whilst the latter remained within recent ranges. As a side note, crypto markets also saw a rebound following yesterday's bloodbath, albeit Bitcoin and Ethereum remained under 35k and 2k respectively. Finally, JGBs trade narrowly softer in tandem with UST and Bund futures waning off best levels.</p>\n<p><i>Top Asian News</i></p>\n<ul>\n <li>Jimmy Lai’s 26-Year-Old Tabloid All But Dead After Defying China; Carrie Lam Defends Apple Daily Arrests, Warns Media Outlets</li>\n <li>GIC Said to Near Deal to Buy Stake in Malaysia’s Sunway Hospital</li>\n <li>China Tourism May File for Hong Kong Listing This Week: IFR</li>\n <li>Korea Curve Steepens, China Repo Rises, Rupiah Bonds Halt Drop</li>\n</ul>\n<p><b>Ahead of the cash open, European index futures indicated a marginally firmer star to the session. However, as cash markets opened, sentiment dwindled and stocks were pushed into the red (Eurostoxx 50 -0.3%) with no real obvious catalyst behind the move</b>. US index futures ebbed lower at the same time with some minor initial underperformance in the tech-heavy e-mini Nasdaq, albeit moves have been confined to recent ranges as markets await further impetus ahead of a particularly busy week of Fed speak. Since then, we have seen a modest pick-up in the futures taking them nearer to the unchanged mark on the session, but still retaining a negative bias overall. On which, Fed Chair Powell is due to testify to Congress today at 1900BST/1400ET. Pre-released text was a reiteration of recent remarks, however, the Q&amp;A segment could offer some opportunity for the Chair to be pushed on the FOMC’s exit strategy and recent hawkish speakers e.g. Bullard; other Fed speakers today include 2022-voter Mester and 2021-voter Daly. In Europe, sectors are somewhat mixed with Oil &amp; Gas top of the pile amid the recent advances in the crude complex even in-light of today’s pressure on a potential ramping up of OPEC+ production (see commodities), whilst Tech and Health care lag peers with the former hampered by the mini-revival seen in yields since the start of the week which saw the US 10yr initially slip below 1.4%. Kepler Cheuvreux downgraded the European banking sector to neutral from overweight with analysts at the firm concerned that the reflation trade is not a foregone conclusion in a context where the steepening of the USD yield curve appears to have exhausted itself. In terms of stock specifics, BT (+0.6%) are slightly firmer on the session amid reports that Rupert Murdoch's News UK is reportedly looking into a tie-up with BT Sport. Finally, Travel &amp; Leisure names including Ryanair (+1.1%) and IAG (+1.0%) have been provided some support amid suggestions that UK ministers are to relax travel restrictions from August for those who have been fully vaccinated.</p>\n<p><i>Top European News</i></p>\n<ul>\n <li>U.K. Begins Negotiations to Join Trans-Pacific Trading Bloc</li>\n <li>Germany Boosts Third-Quarter Bond Issuance by 2 Billion Euros</li>\n <li>Aston Martin Sues Dealer Over Deposits for $3.5 Million Valkyrie</li>\n <li>Tech Stocks Tumble as Prosus Falls, Pandemic Winners Decline</li>\n</ul>\n<p><b>In FX,</b>there was some calm after Monday’s relatively lively session amidst pronounced risk-off APAC trade before a steady recovery in sentiment that prompted a retreat in safe-havens on little fresh news or data. Nevertheless, the DXY formed a base below 92.000 and is currently consolidating around its new pivot within a 91.890-92.139 range inside yesterday’s 91.826-92.375 range awaiting further direction that could come from today’s trio of Fed speakers or macro releases in the form of existing home sales and Richmond Fed composite readings. Note, however, the text of chair Powell’s testimony to Congress has already been published so anything new will likely come from the Q&amp;A section.</p>\n<ul>\n <li>AUD/GBP - It may be too early to label the day a turnaround Tuesday for the Aussie and Pound, but both have unwound a chunk of their gains vs the Buck after benefiting from its frailty yesterday, and Aud/Usd is also bearing the brunt of another slump in iron ore prices as it struggles to stay within touching distance of the 0.7500 handle. Note also, prelim payrolls and earnings data came in weaker than prior prints overnight ahead of flash PMIs tonight. Meanwhile, Sterling has relinquished 1.3900+ status, and perhaps partly due to a loss of technical momentum given that Cable topped out just pips shy of the 100 DMA (1.3941 vs 1.3937 high), while the Eur/Gbp cross held around 0.8550 before bouncing.</li>\n <li>CAD/CHF/NZD/EUR/JPY - A pull-back in WTI towards Usd 73/brl in wake of reports that Russia may push for higher OPEC+ crude output at next week’s summit, has undermined the Loonie ahead of Canadian retail sales on Wednesday, with Usd/Cad back up in the high 1.2300 area, while the Franc is beneath 0.9200 following fairly upbeat economic forecasts from Switzerland’s KOF. Elsewhere, the Kiwi is holding between 0.6995-63 parameters following a marked pick-up in NZ credit card spending and as Aud/Nzd eyes 1.0750 to the downside having been capped circa 1.0800, the Euro is straddling 1.1900 and Yen has retreated through 110.50 against the backdrop of higher US Treasury yields and curve re-steepening.</li>\n</ul>\n<p><b>In commodities,</b>WTI and Brent have seen downside, -0.5% and -0.4% respectively, after what was a relatively uneventful APAC session for the benchmarks. The pressure came just after the European cash equity open, which was softer than futures had implied, amid reports that Russia is considering proposing an increase in OPEC+ oil production at the July 1st gathering, according to officials. As Russia expects the global supply shortfall to persist over the medium-term horizon; note, Russian VP Novak is set to meet with various domestic oil companies today. This report sparked pressure in the benchmarks sending WTI and Brent August’21 futures below USD 73.00/bbl and USD 75.00/bbl respectively – a smaller bout of further pressure was seen on subsequent source reports that it is possible to increase supply gradually from August. Such an alteration would be in-fitting with the most recent IEA MOMR which wrote that “OPEC+ needs to open the taps to keep world oil markets adequately supplied; production hikes at current pace set to be nowhere near the levels needed to prevent further stock draws”. As a reminder, the current OPEC+ quotas which were set in April envisage 700k BPD and 850k BPD of oil re-entering the market in June and July respectively. Moving to metals, spot gold and silver are modestly softer on the session given upside in both the USD and yields this morning; however, the magnitude of ranges for the precious metals are contained when compared with action seen over the last week. On gold, JP Morgan retains its long-term bearish view on the metal in-light of last week’s FOMC updates and look for copper prices to ease into H2 as supply/demand imbalances resolve, taking the view that the metal peaked in Q2.</p>\n<p><b>US Event Calendar</b></p>\n<ul>\n <li>10:30am: Fed’s Mester Discusses Monetary Policy and Financial...</li>\n <li>11am: Fed’s Daly Speaks at Peterson Institute Event</li>\n <li>2pm: Powell Testifies to Congress on Covid-19 Response and Economy</li>\n</ul>\n<p><b>DB's Jim Reid concludes the overgnight wrap</b></p>\n<p>When we went to press yesterday morning I was left very confused as to why US 10 year yields had sunk even further overnight to around 1.36% from 1.44% at the Asian open. It felt like it might be the longest day of the year in markets as well as in daylight terms. Well 4 hours later they had moved back to 1.44% and then 1.49% after another 6 hours early in the US session - roughly where they closed and where they are trading now in Asia. To be fair the real action continues to be in the 30 year part of the curve which opened in Asia yesterday at 2.01%, rallied to 1.925% but then reversed course all day and flirted with 2.10% as Europe went home before closing at 2.11% (2.12% in Asia). There was no real new news so the earlier price action perhaps indicates that there might have been some positioning/liquidation issues out there yesterday to explain such swings. This is part of the reason I wouldn’t try to over analyse the macro implications of these moves at the moment. There seems to be a lot of technical things going on at the moment including the Treasury running down their cash holdings at the Fed. As such I think it’s far too early to suggest that the price action reflects a view that the Fed made a policy error last Wednesday.</p>\n<p>Equity markets seemed to like a return of more normal yields as they have been a bit shaken by the bond reaction post the FOMC. In fact by the close of yesterday’s session, the S&amp;P 500 had rebounded +1.40% to put the index back within 1% of its all-time closing high last week. So quite the reversal from its worst weekly performance since February. Even the dollar (which saw its best performance since September last week) changed gears to close -0.35% lower on the day.</p>\n<p>In the absence of other events on the calendar, Fed speakers were in focus yesterday with St Louis President Bullard (non-voter, dove) and Dallas President Kaplan (non-voter, hawk) kicking off proceedings. Notably, Bullard said that the Fed ought to set up its taper so it could be adjusted if necessary, which raises the prospect that the pace could change depending on the strength of the economic recovery and inflation outcomes. And he himself alluded to the uncertainty in the outlook, saying that “No one really knows how this is all going to unfold. We have to be ready for the idea that there is upside risk to inflation and for it to go higher”. Separately, Kaplan said that he was in favour of beginning the tapering process sooner rather than later. However the timeline is still uncertain, as later in the session New York Fed President Williams said that he still sees tapering as “quite a ways off.” Williams also expects inflation to return to 2% next year and that the long-term trends that have depressed inflation in recent years will be the overriding force once again. After a year of coordinated messaging, it seems like there is more dispersion of views coming out of the committee now. I think this is more healthy.</p>\n<p>Today, all eyes will be on Fed Chair Powell, who’s testifying at 7pm London time before the House of Representatives’ Select Subcommittee on the coronavirus crisis, where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.” Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.</p>\n<p>Running through the market moves yesterday, US equities saw an incredibly broad-based advance, with 482 companies moving higher in the S&amp;P on the day, which remarkably represents the highest number of gainers in over a year. The S&amp;P gains were led by the cyclical/reopening trade as yields rebounded while tech stocks lagged somewhat, with the NASDAQ seeing a smaller +0.79% advance, though that still left the index within 0.5% of its own all-time high. Small-cap stocks saw even larger gains, as the Russell 2000 was up +2.16%. Over in Europe, equity markets saw their own slightly more subdued rebound with the STOXX 600 ending the day up +0.70%.</p>\n<p>For sovereign bond markets it was an eventful day as discussed at the top, with yields moving noticeably lower prior to the open in Europe before ending the day higher. Furthermore, we saw curves begin to steepen again following the major flattening last week, with the US 2s10s curve up +4.8bps, and the 5s30s up +8.6bps. Europe saw much the same story once the global sell-off begun, with yields on bunds (+2.9bps), OATs (+0.5bps) and BTPs (+0.4bps) all moving higher.</p>\n<p>Overnight in Asia, markets are following Wall Street’s lead with the Nikkei (+2.95%), Shanghai Comp (+0.78%) and Kospi (+0.77%) all making gains. The Hang Seng (-0.01%) is trading broadly flat. Outside of Asia, futures on the S&amp;P 500 are up +0.18% and those on the Stoxx 50 are up +0.35%.</p>\n<p>Elsewhere, both Brent Crude (+1.89%) and WTI (+2.82%) oil prices climbed to fresh 2-year highs of $74.90/bbl and $73.66/bbl respectively. Indeed that rise for WTI yesterday now means it’s risen by more than +50% on a YTD basis, making it the first major asset in our performance review basket to reach that milestone this year. Overnight, Brent oil prices have crossed $75 mark for the first time since April 2019. Other commodities also performed decently yesterday, including copper (+0.65%), gold (+1.08%), silver (+0.64%) and corn (+0.61%), with all 4 recovering ground following last week’s losses. Speaking of commodities, I looked at the change in various prices over the last 2 years in my chart of the day yesterday (link here), pointing out that in spite of the declines from their recent peaks this year, they still remain well above their levels 2 years ago. So some perspective is needed to the recent falls.</p>\n<p>In terms of new-age commodities, the selloff in crypto-assets took another leg lower yesterday following news that China called a meeting of leaders of its largest banks to reiterate a ban on cryptocurrency services. Bitcoin fell -9.05% to $32,582, its lowest level since late-January. Ethereum (-14.0%), Litecoin (-14.0%) and XRP (-12.6%) all followed suit.</p>\n<p>In terms of the latest on the pandemic, UK Prime Minister Johnson said that for England, “I think it’s looking good for July 19 to be that terminus point” when the easing of restrictions could take place. Nevertheless, a further 10,633 cases were reported in the UK yesterday, which took the weekly average to its highest since late-February, at 9,778. The rate of increase has slowed though. In Germany, Health Minister Spahn warned the delta variant may cause a 4th wave of infections, saying the government would remain cautious when the calendar turns over to Autumn and Winter. Elsewhere, it was announced that spectators at the Tokyo Olympics would be limited to either 10,000 or 50% capacity. Lastly, the White house announced that 150mn Americans, or over 45% of the overall population, are now fully vaccinated and 15 states along with Washington DC have now reached 70% of adults with at least one shot. However there has been a greater than 30% increase in Covid-19 hospitalisations in Missouri, Arkansas and Utah – all states with well below average vaccination rates – over the last week with the increase driven by 18-29 year olds, according to U.S. Department of Health &amp; Human Services data. The absolute numbers remain low and healthcare capacity is not a concern at this time, however local authorities are paying attention and cited low testing numbers as an additional concern.</p>\n<p>Finally, there wasn’t a great deal of data yesterday, though the Chicago Fed’s national activity index came in at 0.29 in May (vs. 0.70 expected), up from -0.09 in April.</p>\n<p>To the day ahead now, and the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.</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>Futures Steady Ahead Of Powell Testimony</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\">\nFutures Steady Ahead Of Powell Testimony\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196246436","content_text":"U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects for post-pandemic economic growth, putting fears of a hawkish Fed in the rearview mirror even as they awaited Fed Chair Jerome Powell’s testimony before Congress. Nasdaq 100 futures extend increase to as much as 0.3%, the highest for Tuesday’s session, with contracts on the S&P 500 rising 0.1% as of 7:15am in New York.\n\nIn premarket trading, meme stock Torchlight Energy Resources jumped 10.5% on heavy volume following a 58% surge to a record on Monday, as the company upsized its stock offering after its shares doubled in value last week on interest from individual traders. Other meme stocks trade mostly higher with ContextLogic (WISH) rising 3.3% and Clover Health (CLOV) gaining 1.9%.\nHere are some other notable premarket movers:\n\nAdial Pharmaceuticals (ADIL) surges 28% in premarket trading after a positive mention of the company in a post on the Seeking Alpha investment site.\nMicrovision (MVIS) sinks 9% after saying it may offer from time to time up to $140 million in shares via Craig-Hallum Capital Group.\nNikola (NKLA) drops 2% after registering shares for potential sale by holder Tumim Stone Capital.\nCrypto stocks including miners Riot Blockchain, Marathon Patent Group, Ebang International and MicroStrategy Inc fell between 2% and 3% as China’s crackdown on bitcoin mining expanded to the province of Sichuan.\n\nThe Dow jumped more than 500 points on Monday following last week’s selloff, its best day since early March, with the largest share of S&P members advancing since April 2020.\nMarket participants piled back into energy, financials and industrial stocks when Fed officials including as St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan toned down their hawkish rhetoric which accelerated last week's rout.\n\"Last week's FOMC meeting was a hawkish surprise, but does not change our market outlook. The reflation trade experienced a sharp technically driven pullback, but we expect the trade to resume and see this move as an opportunity to add exposure to cyclical equities and commodities,\" JPMorgan strategists said in a note.\nEuropean stocks looked set to build on gains in Asian markets as EuroSTOXX 50 futures rose 0.4% and FTSE futures were up 0.3%. Declines in shares of carmakers and banks offset gains in real estate stocks. Europe’s Stoxx 600 travel and leisure subgroup rose as much as 0.8%, making it the second-best performing sector in the benchmark index, after The Times reported that the U.K. is set to announce an overhaul of travel restrictions on Thursday. Here are some of the biggest European movers today:\n\nKingspan shares rise as much as 6.1% with Morgan Stanley (equal- weight) saying the key positive from its trading update is the strong margin performance.\nBT shares gain as much as 2.1%, among top performers in the Stoxx Telecom Index, following a report that Rupert Murdoch’s News UK is looking at a tie-up with BT Sport.\nBossard shares gain as much as 5% to a record high. The company’s business model is “misunderstood” by the market and it is a niche play on the growth of industrial automation, Berenberg writes in a note initiating the stock at buy with a street-high CHF340 PT.\nCasino shares rise as much as 2% after a report saying that retail mogul Micheal Klein started to build a minority position in the Brazilian firm GPA, following a similar move by retailing billionaire Abilio Diniz.\nDS Smith shares fall as much as 3.1% after reporting adjusted operating profit that missed the average analyst estimate.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, moving above Monday's four-week lows and notching a 4% gain so far this year, while the broader MSCI Asia Pacific Index rose 0.9%,putting it on track for its best day since May 25.Japanese shares led the advance in Asia, as investor concerns over the pace of U.S. monetary policy tightening and rising inflation eased. It is now poised to snap four straight days of declines. The buoyant performance comes after Federal Reserve Chair Jerome Powell reiterated overnight that inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. The New York Fed’s president also said that he continues to view the recent spike in inflation as a temporary phenomenon. Cyclical shares recovered from the recent sell-off, with industrials and materials leading the charge.Japanese equities rebounded, with the Topix climbing by the most in one year one day after the BOJ intervened to buy ETFs for the first time since April.Investors largely expect Asia’s stock market to remain resilient despite the prospects of a gradual tapering of global liquidity and a resurgent dollar. Supporting the region’s equities are attractive valuations, falling Covid-19 cases and relatively low levels of bond yields. The stock benchmark remains more than 6% below a record high it reached in February. “We expect Asia to broadly remain on a healthy recovery path” supported by a broad-based growth in exports and industrial output, Alex Wolf, head of investment strategy for Asia at JPMorgan Private Bank, wrote in a note. “We think three factors will be key to watch over the rest of 2021: vaccination progress, exports -- particularly semiconductors, and China’s recovery.”\nToday, all eyes will be on Fed Chair Powell, who’s testifying at 2pm ET before the House of Representatives’ Select Subcommittee on the coronavirus crisis,where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.”He also said inflation has “increased notably in recent months” but regarded the recent jump as likely to fade.  Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.\n“Powell will repeat that inflation is transitory and will drop back ‘as these transitory supply effects abate’,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “How much time do we have before the supply effects abate is a big question.”\n“There’s probably going to be some back and forth here,” said Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy.“There is a lot of cash on the sidelines right now. Some of that is going to be earmarked to go into the markets, and we think the best place right now to be investing is in the equity markets.”\nIn rates, 10-year Treasuries steadied, trading at 1.49% last. Yields were richer across the curve, with 5s30s flatter by ~1bp; 10-year around 1.48% outperforms bunds and gilts slightly Regional demand emerged during Asia session, renewing the bull-flattening trend that stalled on Monday. Treasury auctions include $60b 2-year note, followed by 5- and 7-year on Wednesday and Thursday. The WI 2-year yield at ~0.257% is higher than auction stops since March 2020 and 10.5bp cheaper than last month’s, which stopped through by 0.7bp\nIn currency markets, the dollar spot Index rose as the greenback traded higher versus all of its Group-of-10 peers and the 10-year Treasury yield hovered around 1.49% The pound fell for a fifth day in six sessions on broad dollar strength and as investors awaited signals on the Bank of England’s inflation outlook on Thursday. Norway’s krone fell to a session low as Brent oil retreated after earlier rising to $75 a barrel for the first time in more than two years. Australia’s currency led losses with iron ore extending Monday’s slump. The yen fell to trade around 110.50; bonds also declined and a five-year auction was weaker than expected.\n\"The whole world was mega short the U.S. dollar, and that's in good part has probably been cleaned out already, and now we take a wee breath before the next move up,\" said Westpac currency analyst Imre Speizer.\nIn commodities, WTI was flat at $73.7 per barrel and Brent crude retreated after earlier topping $75/bbl for the first time in more than two years after rising on Monday in reaction the a pause in talks to end U.S. sanctions on Iranian crude. Oil market sentiment was helped by hopes for a quick recovery in oil demand in the United States and Europe. OPEC+ said it was discussing whether to further boost production as the oil market looks increasingly tight. Spot gold added 0.3% to $1,787.61 an ounce.\nBitcoin sank closer to $30,000 after China intensified its cryptocurrency clampdown.\nLooking at theday aheadnow, the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.\nMarket Snapshot\n\nS&P 500 futures down 0.1% to 4,207.75\nSTOXX Europe 600 down -0.3% to 453.94\nMXAP up 0.9% to 206.17\nMXAPJ little changed at 687.97\nNikkei up 3.1% to 28,884.13\nTopix up 3.2% to 1,959.53\nHang Seng Index down 0.6% to 28,309.76\nShanghai Composite up 0.8% to 3,557.41\nSensex up 0.3% to 52,715.63\nAustralia S&P/ASX 200 up 1.5% to 7,342.20\nKospi up 0.7% to 3,263.88\nBrent Futures down 0.4% to $74.63/bbl\nGerman 10Y yield rose 2.2 bps to -0.149%\nEuro down 0.2% to $1.1899\nGold spot down 0.3% to $1,777.25\nU.S. Dollar Index up 0.14% to 92.03\n\nTop Overnight News from Bloomberg\n\nLeveraged funds boosted net dollar shorts by 21,347 contracts in the week ended June 15, the most since mid-January, according to data from the Commodity Futures Trading Commission.\nGermany increased the amount of planned bond sales in the third quarter by 2 billion euros ($2.4 billion) to help cover financing for the ruling coalition’s generous aid programs to offset the impact of the coronavirus pandemic\nChina’s intensifying cryptocurrency crackdown has left Bitcoin flirting with $30,000, a price level seen as key to the short-term outlook for the largest virtual currency\nRussia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter\nMario Draghi has cemented his position in Italy and his political partners are beginning to assume he’ll remain in power until his term ends in 2023. That is the assessment of half a dozen senior officials from all the main parties and inside the government\nHungary is set to become the first European Union nation to tighten monetary policy this year, with the central bank widely expected to raise borrowing costs on Tuesday in an attempt to curb surging inflation\nA raft of disappointing economic data from China last week, especially the sluggish recovery in consumption, has prompted economists to cut their estimates for China’s output in 2021.\n\nQuick look at global markets courtesy of Newsquawk\nAsia-Pac equities staged a rebound from the prior day's sell-off as the region reacted to the rally seen on Wall Street, whereby the DJIA outperformed whilst the Nasdaq’s upside was hindered by the recovery in yields.Overnight, US equity futures traded flat and near the prior session’s best levels ahead of Fed Chair Powell’s testimony – but before that, 2022-voter Mester is poised to make remarks on monetary policy ahead of commentary from 2021-voter Daly. Over in APAC markets, the ASX 200 (+1.5%) was supported by its Telecoms and Financials sectors whilst the Nikkei 225 (+3.1%) trimmed some of the prior session’s hefty losses as reports of BoJ ETF purchases providing Tokyo with some tailwinds. The KOSPI (+0.7%) saw cautious gains as Yonhap reported that South Korea and the US are mulling ending the working group on North Korean policy, whilst North Korea tempered down expectations of dialogue with the US. Hang Seng (-0.6%) and Shanghai Comp (+0.8%) varied with the former pressured after the US reiterated its concern over Hong Kong’s autonomy, whilst the latter remained within recent ranges. As a side note, crypto markets also saw a rebound following yesterday's bloodbath, albeit Bitcoin and Ethereum remained under 35k and 2k respectively. Finally, JGBs trade narrowly softer in tandem with UST and Bund futures waning off best levels.\nTop Asian News\n\nJimmy Lai’s 26-Year-Old Tabloid All But Dead After Defying China; Carrie Lam Defends Apple Daily Arrests, Warns Media Outlets\nGIC Said to Near Deal to Buy Stake in Malaysia’s Sunway Hospital\nChina Tourism May File for Hong Kong Listing This Week: IFR\nKorea Curve Steepens, China Repo Rises, Rupiah Bonds Halt Drop\n\nAhead of the cash open, European index futures indicated a marginally firmer star to the session. However, as cash markets opened, sentiment dwindled and stocks were pushed into the red (Eurostoxx 50 -0.3%) with no real obvious catalyst behind the move. US index futures ebbed lower at the same time with some minor initial underperformance in the tech-heavy e-mini Nasdaq, albeit moves have been confined to recent ranges as markets await further impetus ahead of a particularly busy week of Fed speak. Since then, we have seen a modest pick-up in the futures taking them nearer to the unchanged mark on the session, but still retaining a negative bias overall. On which, Fed Chair Powell is due to testify to Congress today at 1900BST/1400ET. Pre-released text was a reiteration of recent remarks, however, the Q&A segment could offer some opportunity for the Chair to be pushed on the FOMC’s exit strategy and recent hawkish speakers e.g. Bullard; other Fed speakers today include 2022-voter Mester and 2021-voter Daly. In Europe, sectors are somewhat mixed with Oil & Gas top of the pile amid the recent advances in the crude complex even in-light of today’s pressure on a potential ramping up of OPEC+ production (see commodities), whilst Tech and Health care lag peers with the former hampered by the mini-revival seen in yields since the start of the week which saw the US 10yr initially slip below 1.4%. Kepler Cheuvreux downgraded the European banking sector to neutral from overweight with analysts at the firm concerned that the reflation trade is not a foregone conclusion in a context where the steepening of the USD yield curve appears to have exhausted itself. In terms of stock specifics, BT (+0.6%) are slightly firmer on the session amid reports that Rupert Murdoch's News UK is reportedly looking into a tie-up with BT Sport. Finally, Travel & Leisure names including Ryanair (+1.1%) and IAG (+1.0%) have been provided some support amid suggestions that UK ministers are to relax travel restrictions from August for those who have been fully vaccinated.\nTop European News\n\nU.K. Begins Negotiations to Join Trans-Pacific Trading Bloc\nGermany Boosts Third-Quarter Bond Issuance by 2 Billion Euros\nAston Martin Sues Dealer Over Deposits for $3.5 Million Valkyrie\nTech Stocks Tumble as Prosus Falls, Pandemic Winners Decline\n\nIn FX,there was some calm after Monday’s relatively lively session amidst pronounced risk-off APAC trade before a steady recovery in sentiment that prompted a retreat in safe-havens on little fresh news or data. Nevertheless, the DXY formed a base below 92.000 and is currently consolidating around its new pivot within a 91.890-92.139 range inside yesterday’s 91.826-92.375 range awaiting further direction that could come from today’s trio of Fed speakers or macro releases in the form of existing home sales and Richmond Fed composite readings. Note, however, the text of chair Powell’s testimony to Congress has already been published so anything new will likely come from the Q&A section.\n\nAUD/GBP - It may be too early to label the day a turnaround Tuesday for the Aussie and Pound, but both have unwound a chunk of their gains vs the Buck after benefiting from its frailty yesterday, and Aud/Usd is also bearing the brunt of another slump in iron ore prices as it struggles to stay within touching distance of the 0.7500 handle. Note also, prelim payrolls and earnings data came in weaker than prior prints overnight ahead of flash PMIs tonight. Meanwhile, Sterling has relinquished 1.3900+ status, and perhaps partly due to a loss of technical momentum given that Cable topped out just pips shy of the 100 DMA (1.3941 vs 1.3937 high), while the Eur/Gbp cross held around 0.8550 before bouncing.\nCAD/CHF/NZD/EUR/JPY - A pull-back in WTI towards Usd 73/brl in wake of reports that Russia may push for higher OPEC+ crude output at next week’s summit, has undermined the Loonie ahead of Canadian retail sales on Wednesday, with Usd/Cad back up in the high 1.2300 area, while the Franc is beneath 0.9200 following fairly upbeat economic forecasts from Switzerland’s KOF. Elsewhere, the Kiwi is holding between 0.6995-63 parameters following a marked pick-up in NZ credit card spending and as Aud/Nzd eyes 1.0750 to the downside having been capped circa 1.0800, the Euro is straddling 1.1900 and Yen has retreated through 110.50 against the backdrop of higher US Treasury yields and curve re-steepening.\n\nIn commodities,WTI and Brent have seen downside, -0.5% and -0.4% respectively, after what was a relatively uneventful APAC session for the benchmarks. The pressure came just after the European cash equity open, which was softer than futures had implied, amid reports that Russia is considering proposing an increase in OPEC+ oil production at the July 1st gathering, according to officials. As Russia expects the global supply shortfall to persist over the medium-term horizon; note, Russian VP Novak is set to meet with various domestic oil companies today. This report sparked pressure in the benchmarks sending WTI and Brent August’21 futures below USD 73.00/bbl and USD 75.00/bbl respectively – a smaller bout of further pressure was seen on subsequent source reports that it is possible to increase supply gradually from August. Such an alteration would be in-fitting with the most recent IEA MOMR which wrote that “OPEC+ needs to open the taps to keep world oil markets adequately supplied; production hikes at current pace set to be nowhere near the levels needed to prevent further stock draws”. As a reminder, the current OPEC+ quotas which were set in April envisage 700k BPD and 850k BPD of oil re-entering the market in June and July respectively. Moving to metals, spot gold and silver are modestly softer on the session given upside in both the USD and yields this morning; however, the magnitude of ranges for the precious metals are contained when compared with action seen over the last week. On gold, JP Morgan retains its long-term bearish view on the metal in-light of last week’s FOMC updates and look for copper prices to ease into H2 as supply/demand imbalances resolve, taking the view that the metal peaked in Q2.\nUS Event Calendar\n\n10:30am: Fed’s Mester Discusses Monetary Policy and Financial...\n11am: Fed’s Daly Speaks at Peterson Institute Event\n2pm: Powell Testifies to Congress on Covid-19 Response and Economy\n\nDB's Jim Reid concludes the overgnight wrap\nWhen we went to press yesterday morning I was left very confused as to why US 10 year yields had sunk even further overnight to around 1.36% from 1.44% at the Asian open. It felt like it might be the longest day of the year in markets as well as in daylight terms. Well 4 hours later they had moved back to 1.44% and then 1.49% after another 6 hours early in the US session - roughly where they closed and where they are trading now in Asia. To be fair the real action continues to be in the 30 year part of the curve which opened in Asia yesterday at 2.01%, rallied to 1.925% but then reversed course all day and flirted with 2.10% as Europe went home before closing at 2.11% (2.12% in Asia). There was no real new news so the earlier price action perhaps indicates that there might have been some positioning/liquidation issues out there yesterday to explain such swings. This is part of the reason I wouldn’t try to over analyse the macro implications of these moves at the moment. There seems to be a lot of technical things going on at the moment including the Treasury running down their cash holdings at the Fed. As such I think it’s far too early to suggest that the price action reflects a view that the Fed made a policy error last Wednesday.\nEquity markets seemed to like a return of more normal yields as they have been a bit shaken by the bond reaction post the FOMC. In fact by the close of yesterday’s session, the S&P 500 had rebounded +1.40% to put the index back within 1% of its all-time closing high last week. So quite the reversal from its worst weekly performance since February. Even the dollar (which saw its best performance since September last week) changed gears to close -0.35% lower on the day.\nIn the absence of other events on the calendar, Fed speakers were in focus yesterday with St Louis President Bullard (non-voter, dove) and Dallas President Kaplan (non-voter, hawk) kicking off proceedings. Notably, Bullard said that the Fed ought to set up its taper so it could be adjusted if necessary, which raises the prospect that the pace could change depending on the strength of the economic recovery and inflation outcomes. And he himself alluded to the uncertainty in the outlook, saying that “No one really knows how this is all going to unfold. We have to be ready for the idea that there is upside risk to inflation and for it to go higher”. Separately, Kaplan said that he was in favour of beginning the tapering process sooner rather than later. However the timeline is still uncertain, as later in the session New York Fed President Williams said that he still sees tapering as “quite a ways off.” Williams also expects inflation to return to 2% next year and that the long-term trends that have depressed inflation in recent years will be the overriding force once again. After a year of coordinated messaging, it seems like there is more dispersion of views coming out of the committee now. I think this is more healthy.\nToday, all eyes will be on Fed Chair Powell, who’s testifying at 7pm London time before the House of Representatives’ Select Subcommittee on the coronavirus crisis, where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.” Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.\nRunning through the market moves yesterday, US equities saw an incredibly broad-based advance, with 482 companies moving higher in the S&P on the day, which remarkably represents the highest number of gainers in over a year. The S&P gains were led by the cyclical/reopening trade as yields rebounded while tech stocks lagged somewhat, with the NASDAQ seeing a smaller +0.79% advance, though that still left the index within 0.5% of its own all-time high. Small-cap stocks saw even larger gains, as the Russell 2000 was up +2.16%. Over in Europe, equity markets saw their own slightly more subdued rebound with the STOXX 600 ending the day up +0.70%.\nFor sovereign bond markets it was an eventful day as discussed at the top, with yields moving noticeably lower prior to the open in Europe before ending the day higher. Furthermore, we saw curves begin to steepen again following the major flattening last week, with the US 2s10s curve up +4.8bps, and the 5s30s up +8.6bps. Europe saw much the same story once the global sell-off begun, with yields on bunds (+2.9bps), OATs (+0.5bps) and BTPs (+0.4bps) all moving higher.\nOvernight in Asia, markets are following Wall Street’s lead with the Nikkei (+2.95%), Shanghai Comp (+0.78%) and Kospi (+0.77%) all making gains. The Hang Seng (-0.01%) is trading broadly flat. Outside of Asia, futures on the S&P 500 are up +0.18% and those on the Stoxx 50 are up +0.35%.\nElsewhere, both Brent Crude (+1.89%) and WTI (+2.82%) oil prices climbed to fresh 2-year highs of $74.90/bbl and $73.66/bbl respectively. Indeed that rise for WTI yesterday now means it’s risen by more than +50% on a YTD basis, making it the first major asset in our performance review basket to reach that milestone this year. Overnight, Brent oil prices have crossed $75 mark for the first time since April 2019. Other commodities also performed decently yesterday, including copper (+0.65%), gold (+1.08%), silver (+0.64%) and corn (+0.61%), with all 4 recovering ground following last week’s losses. Speaking of commodities, I looked at the change in various prices over the last 2 years in my chart of the day yesterday (link here), pointing out that in spite of the declines from their recent peaks this year, they still remain well above their levels 2 years ago. So some perspective is needed to the recent falls.\nIn terms of new-age commodities, the selloff in crypto-assets took another leg lower yesterday following news that China called a meeting of leaders of its largest banks to reiterate a ban on cryptocurrency services. Bitcoin fell -9.05% to $32,582, its lowest level since late-January. Ethereum (-14.0%), Litecoin (-14.0%) and XRP (-12.6%) all followed suit.\nIn terms of the latest on the pandemic, UK Prime Minister Johnson said that for England, “I think it’s looking good for July 19 to be that terminus point” when the easing of restrictions could take place. Nevertheless, a further 10,633 cases were reported in the UK yesterday, which took the weekly average to its highest since late-February, at 9,778. The rate of increase has slowed though. In Germany, Health Minister Spahn warned the delta variant may cause a 4th wave of infections, saying the government would remain cautious when the calendar turns over to Autumn and Winter. Elsewhere, it was announced that spectators at the Tokyo Olympics would be limited to either 10,000 or 50% capacity. Lastly, the White house announced that 150mn Americans, or over 45% of the overall population, are now fully vaccinated and 15 states along with Washington DC have now reached 70% of adults with at least one shot. However there has been a greater than 30% increase in Covid-19 hospitalisations in Missouri, Arkansas and Utah – all states with well below average vaccination rates – over the last week with the increase driven by 18-29 year olds, according to U.S. Department of Health & Human Services data. The absolute numbers remain low and healthcare capacity is not a concern at this time, however local authorities are paying attention and cited low testing numbers as an additional concern.\nFinally, there wasn’t a great deal of data yesterday, though the Chicago Fed’s national activity index came in at 0.29 in May (vs. 0.70 expected), up from -0.09 in April.\nTo the day ahead now, and the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167228252,"gmtCreate":1624272263376,"gmtModify":1703832084412,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167228252","repostId":"1147979715","repostType":4,"repost":{"id":"1147979715","kind":"news","pubTimestamp":1624270382,"share":"https://ttm.financial/m/news/1147979715?lang=&edition=fundamental","pubTime":"2021-06-21 18:13","market":"fut","language":"en","title":"Bitcoin Falls to Two-Week Low as China Cracks Down on Crypto","url":"https://stock-news.laohu8.com/highlight/detail?id=1147979715","media":"Bloomberg","summary":"Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypt","content":"<ul>\n <li>Bitcoin trades near $33,000 amid worries over market froth</li>\n <li>China’s harder regulatory stance on crypto is rattling traders</li>\n</ul>\n<p>Bitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown in China.</p>\n<p>The largest virtual currency fell 8% to $33,070 as of 11:12 a.m. in London. Ether declined 12% to $1,993.</p>\n<p>China has ordered payment platform Alipay and domestic banks to not to provide services linked to trading of virtual currencies. The institutions were also ordered to cut off payment channels for crypto exchanges and over-the-counter platforms, the People’s Bank of China said in a statement.</p>\n<p>It’s more evidence of China’s tougher stance on crypto that’s stretching from financial regulation to the energy demands of Bitcoin mining.</p>\n<p>“The PBOC crackdown is going further than initially expected,” said Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX. “Mining was phase one and speculation is phase two.”</p>\n<p><img src=\"https://static.tigerbbs.com/31559c8718fe04732604f944b234261f\" tg-width=\"1200\" tg-height=\"675\"></p>\n<p>Separately, a Chinese city with abundant hydropower has stepped up action to rein in mining. A Ya’an government official told at least one Bitcoin miner that the city has promised to root out all Bitcoin and Ether mining operations with a year, said a person with knowledge of the situation.</p>\n<p>In the backdrop, the appetite for risk assets has diminished after last week’s hawkish policy pivot by the Federal Reserve. Even though equity markets tipped into the green on Monday, analysts pointed to lingering jitters about frothy corners of the market.</p>\n<p>“If, as I expect, the global buy-everything unwind continues this week, Bitcoin willfeelthose chill winds,” said Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte.</p>\n<p>Some commentators have said China’s hashrate -- the computational power used to mine coins and process blockchain transactions -- is waning amid harsher regulatory oversight.</p>\n<p>The crypto faithful are also grappling with a tumble in tokens used in so-called&nbsp;decentralized-finance-- or DeFi -- applications. DeFi apps let people lend, borrow, trade and take out insurance directly from each other using blockchain technology, without use of intermediaries such as banks.</p>\n<p>For instance, the DeFi Titanium token went from being valued at around $60 to $0 -- a rare occurrence even for famously volatile crypto markets. Famed mogul Mark Cuban had invested, telling Bloomberg News earlier that though it represented a small percentage of his crypto portfolio, the wipe-out “was enough that I wasn’t happy about it.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Falls to Two-Week Low as China Cracks Down on Crypto</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Falls to Two-Week Low as China Cracks Down on Crypto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 18:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypto is rattling traders\n\nBitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147979715","content_text":"Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypto is rattling traders\n\nBitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown in China.\nThe largest virtual currency fell 8% to $33,070 as of 11:12 a.m. in London. Ether declined 12% to $1,993.\nChina has ordered payment platform Alipay and domestic banks to not to provide services linked to trading of virtual currencies. The institutions were also ordered to cut off payment channels for crypto exchanges and over-the-counter platforms, the People’s Bank of China said in a statement.\nIt’s more evidence of China’s tougher stance on crypto that’s stretching from financial regulation to the energy demands of Bitcoin mining.\n“The PBOC crackdown is going further than initially expected,” said Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX. “Mining was phase one and speculation is phase two.”\n\nSeparately, a Chinese city with abundant hydropower has stepped up action to rein in mining. A Ya’an government official told at least one Bitcoin miner that the city has promised to root out all Bitcoin and Ether mining operations with a year, said a person with knowledge of the situation.\nIn the backdrop, the appetite for risk assets has diminished after last week’s hawkish policy pivot by the Federal Reserve. Even though equity markets tipped into the green on Monday, analysts pointed to lingering jitters about frothy corners of the market.\n“If, as I expect, the global buy-everything unwind continues this week, Bitcoin willfeelthose chill winds,” said Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte.\nSome commentators have said China’s hashrate -- the computational power used to mine coins and process blockchain transactions -- is waning amid harsher regulatory oversight.\nThe crypto faithful are also grappling with a tumble in tokens used in so-called decentralized-finance-- or DeFi -- applications. DeFi apps let people lend, borrow, trade and take out insurance directly from each other using blockchain technology, without use of intermediaries such as banks.\nFor instance, the DeFi Titanium token went from being valued at around $60 to $0 -- a rare occurrence even for famously volatile crypto markets. Famed mogul Mark Cuban had invested, telling Bloomberg News earlier that though it represented a small percentage of his crypto portfolio, the wipe-out “was enough that I wasn’t happy about it.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165567122,"gmtCreate":1624152161466,"gmtModify":1703829453746,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/165567122","repostId":"1133385197","repostType":4,"repost":{"id":"1133385197","kind":"news","pubTimestamp":1624151969,"share":"https://ttm.financial/m/news/1133385197?lang=&edition=fundamental","pubTime":"2021-06-20 09:19","market":"us","language":"en","title":"Answering the great inflation question of our time","url":"https://stock-news.laohu8.com/highlight/detail?id=1133385197","media":"finance.yahoo","summary":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up","content":"<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.</p>\n<p>Unfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”</p>\n<p>The current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?</p>\n<p>Before I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.</p>\n<p>As an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.</p>\n<p>Until now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)</p>\n<p><img src=\"https://static.tigerbbs.com/87f75dfcb98fb5a0e7c3f9d3f8d336e2\" tg-width=\"705\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p>\n<p>Used car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.</p>\n<p>To be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)</p>\n<p>But that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&amp;P 500 down 1.91% this week, its worst week since February.</p>\n<p>Given this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.</p>\n<p>Now I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.</p>\n<p>As for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.</p>\n<p>Which brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.</p>\n<p>“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”</p>\n<p>“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.</p>\n<p>COVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.</p>\n<p>A prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.</p>\n<p>Another secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.</p>\n<p><b>Anti-inflation forces</b></p>\n<p>But here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?</p>\n<p>I say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”</p>\n<p>To buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.</p>\n<p>To me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.</p>\n<p>Not only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.</p>\n<p>So technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.</p>\n<p>There is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.</p>\n<p>After World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)</p>\n<p>Like its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.</p>\n<p>The internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.</p>\n<p>So technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.</p>\n<p>COVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.</p>\n<p>How significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.</p>\n<p>More downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”</p>\n<p>And so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”</p>\n<p>I don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)</p>","source":"lsy1612507957220","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>Answering the great inflation question of our time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nAnswering the great inflation question of our time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-20 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these...</p>\n\n<a href=\"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133385197","content_text":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”\nThe current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?\nBefore I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.\nAs an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.\nUntil now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)\n\nUsed car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.\nTo be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)\nBut that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&P 500 down 1.91% this week, its worst week since February.\nGiven this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.\nNow I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.\nAs for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.\nWhich brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.\n“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”\n“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.\nCOVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.\nA prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.\nAnother secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.\nAnti-inflation forces\nBut here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?\nI say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”\nTo buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.\nTo me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.\nNot only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.\nSo technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.\nThere is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.\nAfter World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)\nLike its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.\nThe internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.\nSo technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.\nCOVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.\nHow significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.\nMore downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”\nAnd so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”\nI don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)","news_type":1},"isVote":1,"tweetType":1,"viewCount":512,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579028995240368","authorId":"3579028995240368","name":"Jfierydragon","avatar":"https://static.tigerbbs.com/32ea74904661b2d0a43f0cc648caae68","crmLevel":9,"crmLevelSwitch":1,"idStr":"3579028995240368","authorIdStr":"3579028995240368"},"content":"done pls reply","text":"done pls reply","html":"done pls reply"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":165567122,"gmtCreate":1624152161466,"gmtModify":1703829453746,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/165567122","repostId":"1133385197","repostType":4,"repost":{"id":"1133385197","kind":"news","pubTimestamp":1624151969,"share":"https://ttm.financial/m/news/1133385197?lang=&edition=fundamental","pubTime":"2021-06-20 09:19","market":"us","language":"en","title":"Answering the great inflation question of our time","url":"https://stock-news.laohu8.com/highlight/detail?id=1133385197","media":"finance.yahoo","summary":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up","content":"<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.</p>\n<p>Unfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”</p>\n<p>The current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?</p>\n<p>Before I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.</p>\n<p>As an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.</p>\n<p>Until now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)</p>\n<p><img src=\"https://static.tigerbbs.com/87f75dfcb98fb5a0e7c3f9d3f8d336e2\" tg-width=\"705\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p>\n<p>Used car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.</p>\n<p>To be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)</p>\n<p>But that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&amp;P 500 down 1.91% this week, its worst week since February.</p>\n<p>Given this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.</p>\n<p>Now I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.</p>\n<p>As for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.</p>\n<p>Which brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.</p>\n<p>“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”</p>\n<p>“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.</p>\n<p>COVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.</p>\n<p>A prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.</p>\n<p>Another secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.</p>\n<p><b>Anti-inflation forces</b></p>\n<p>But here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?</p>\n<p>I say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”</p>\n<p>To buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.</p>\n<p>To me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.</p>\n<p>Not only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.</p>\n<p>So technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.</p>\n<p>There is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.</p>\n<p>After World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)</p>\n<p>Like its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.</p>\n<p>The internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.</p>\n<p>So technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.</p>\n<p>COVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.</p>\n<p>How significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.</p>\n<p>More downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”</p>\n<p>And so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”</p>\n<p>I don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)</p>","source":"lsy1612507957220","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>Answering the great inflation question of our time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nAnswering the great inflation question of our time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-20 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these...</p>\n\n<a href=\"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133385197","content_text":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”\nThe current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?\nBefore I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.\nAs an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.\nUntil now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)\n\nUsed car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.\nTo be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)\nBut that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&P 500 down 1.91% this week, its worst week since February.\nGiven this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.\nNow I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.\nAs for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.\nWhich brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.\n“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”\n“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.\nCOVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.\nA prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.\nAnother secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.\nAnti-inflation forces\nBut here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?\nI say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”\nTo buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.\nTo me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.\nNot only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.\nSo technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.\nThere is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.\nAfter World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)\nLike its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.\nThe internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.\nSo technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.\nCOVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.\nHow significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.\nMore downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”\nAnd so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”\nI don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)","news_type":1},"isVote":1,"tweetType":1,"viewCount":512,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579028995240368","authorId":"3579028995240368","name":"Jfierydragon","avatar":"https://static.tigerbbs.com/32ea74904661b2d0a43f0cc648caae68","crmLevel":9,"crmLevelSwitch":1,"idStr":"3579028995240368","authorIdStr":"3579028995240368"},"content":"done pls reply","text":"done pls reply","html":"done pls reply"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128136719,"gmtCreate":1624505133931,"gmtModify":1703838661994,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/128136719","repostId":"2145156570","repostType":4,"isVote":1,"tweetType":1,"viewCount":426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150500583,"gmtCreate":1624919371242,"gmtModify":1703847713370,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/150500583","repostId":"1143737614","repostType":4,"repost":{"id":"1143737614","kind":"news","pubTimestamp":1624894513,"share":"https://ttm.financial/m/news/1143737614?lang=&edition=fundamental","pubTime":"2021-06-28 23:35","market":"fut","language":"en","title":"The S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years","url":"https://stock-news.laohu8.com/highlight/detail?id=1143737614","media":"Bloomberg","summary":"The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses th","content":"<p>The ratio of the S&amp;P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/069c8eaa303d1a01ad0421a13eb9731b\" tg-width=\"1309\" tg-height=\"830\"><span>Bloomberg</span></p>\n<p>This simple chart tells a great story about fear and greed.&nbsp; Optimism and pessimism.</p>\n<p>When people are feeling good, they bet on humans and companies. When people are fearful, they buy the yellow metal, which has been a store&nbsp;of value for thousands of years. It doesn’t do anything, really, other than exist.</p>\n<p>Of course it peaked in the late `90s, when the world was bursting with optimism. It wasn’t just the dotcom boom that was happening, but that was also peak “end of history” times. Then the bubble burst.&nbsp;And not long thereafter, the attacks on Sept. 11, 2001, happened&nbsp;and&nbsp;led to years of war, causing the ratio to sink for a long time&nbsp;before going into freefall during the Great Financial Crisis. It only bottomed and started turning around in late 2011, which was when housing and other measures, like real wage growth, started to turn around.</p>\n<p>The recent peak was in 2018, the last time emerging market stocks were soaring. That ultimately started giving way, however, after some higher-than-expected inflation readings and a series of Fed hikes throughout that year that caused the 2019 backtrack.</p>\n<p>Obviously, the line plunged last year when the pandemic hit, and lately it’s been surging back. It’s well above its pre-crisis highs, and now as we see it’s on the verge of eclipsing 2018’s peak.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500-to-Gold Ratio Is Nearing Its Highest Level in Over 15 Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 23:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.\nBloomberg\nThis simple chart tells a great story ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-28/the-s-p-500-to-gold-ratio-is-nearing-its-highest-level-in-over-15-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143737614","content_text":"The ratio of the S&P 500 to the price of gold is nearing its 2018 peak. And if the ratio eclipses that level, it will be at a more-than 15-year high.\nBloomberg\nThis simple chart tells a great story about fear and greed.  Optimism and pessimism.\nWhen people are feeling good, they bet on humans and companies. When people are fearful, they buy the yellow metal, which has been a store of value for thousands of years. It doesn’t do anything, really, other than exist.\nOf course it peaked in the late `90s, when the world was bursting with optimism. It wasn’t just the dotcom boom that was happening, but that was also peak “end of history” times. Then the bubble burst. And not long thereafter, the attacks on Sept. 11, 2001, happened and led to years of war, causing the ratio to sink for a long time before going into freefall during the Great Financial Crisis. It only bottomed and started turning around in late 2011, which was when housing and other measures, like real wage growth, started to turn around.\nThe recent peak was in 2018, the last time emerging market stocks were soaring. That ultimately started giving way, however, after some higher-than-expected inflation readings and a series of Fed hikes throughout that year that caused the 2019 backtrack.\nObviously, the line plunged last year when the pandemic hit, and lately it’s been surging back. It’s well above its pre-crisis highs, and now as we see it’s on the verge of eclipsing 2018’s peak.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124438745,"gmtCreate":1624778470987,"gmtModify":1703845048190,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124438745","repostId":"2146090006","repostType":4,"repost":{"id":"2146090006","kind":"highlight","pubTimestamp":1624755315,"share":"https://ttm.financial/m/news/2146090006?lang=&edition=fundamental","pubTime":"2021-06-27 08:55","market":"us","language":"en","title":"5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2146090006","media":"Motley Fool","summary":"These growth and value stocks are begging to be bought by investors.","content":"<p>When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking the reins of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) in the mid-1960s, Buffett's company has averaged an annual return of 20%. This works out to an aggregate gain of greater than 2,800,000% for its Class A shares.</p>\n<p>Although Buffett isn't perfect, he and his investing team have a knack for identifying attractively valued businesses that have clear competitive advantages. As we prepare to move into the second half of 2021, the following five Buffett stocks stand out as those that should be bought hand over fist.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1077c8372814d2b8150e933b4c608005\" tg-width=\"700\" tg-height=\"466\"><span>Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.</span></p>\n<h2>Amazon</h2>\n<p>Even though Buffett's investing lieutenants, Todd Combs and Ted Weschler, are the architects behind Berkshire Hathaway's stake in <b>Amazon</b> (NASDAQ:AMZN), it's arguably the Buffett stock that should be bought most aggressively ahead of the second half of the year.</p>\n<p>As most folks probably know, Amazon is an e-commerce juggernaut. Based on an April report from eMarketer, the company effectively controls $0.40 of every $1 spent online in the United States. It's also pivoted its online retail popularity into signing up more than 200 million people to its Prime program worldwide. The fees Amazon collects from Prime help it to undercut its competition on price. And it certainly doesn't hurt that Prime members tend to spend many multiples more than non-Prime shoppers during the course of the year.</p>\n<p>But it's the company's cloud infrastructure service, Amazon Web Services (AWS), that has truly budded into a star. Since the operating margins associated with cloud infrastructure are considerably higher than what Amazon nets from retail and advertising, AWS' growth is leading to a surge in operating cash flow. If investors were to continue to pay the midpoint of Amazon's operating cash flow multiple over the past decade, it could hit $10,000 a share by 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b18b49b2b35da2fc49e0a83b883d1c22\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Bristol Myers Squibb</h2>\n<p>Pharmaceutical stocks are money machines, and none looks to be more attractive on a valuation basis than <b>Bristol Myers Squibb</b> (NYSE:BMY).</p>\n<p>One reason to be excited about this drug developer is its organic growth potential. Eliquis, which was co-developed with <b>Pfizer</b>, has blossomed into the world's leading oral anticoagulant, with sales expected to surpass $10 billion in 2021. Meanwhile, dozens of additional clinical trials are underway for cancer immunotherapy Opdivo, which generated $7 billion in sales last year. This offers plenty of opportunity to expand Opdivo's label and pump up its pricing power.</p>\n<p>Another reason Bristol Myers Squibb is such an intriguing stock is its November 2019 acquisition of cancer and immunology company Celgene. Buying Celgene brought the blockbuster multiple-myeloma drug Revlimid into the fold. Revlimid has sustainably grown its annual sales by a double-digit percentage for more than a decade, with label expansion, longer duration of use, and pricing power all playing a role. This key treatment, which topped $12 billion in sales last year, is protected from a full onslaught of generic competition until early 2026. That means Bristol Myers will be rolling in the dough for another five years, at minimum.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b152e369d7c967dcbc926192ee888c1\" tg-width=\"700\" tg-height=\"531\"><span>Image source: Getty Images.</span></p>\n<h2>Mastercard</h2>\n<p>Everyone seems to be looking for the smartest recovery play from the pandemic. Payment processor <b>Mastercard</b> (NYSE:MA) might well be the safest way to take advantage of a steady uptick in consumer and enterprise spending.</p>\n<p>Mastercard isn't a cheap stock by any means -- at 36 times Wall Street's forward-year earnings consensus -- but it benefits from a simple numbers game. While economic contractions and recessions are inevitable, these periods of turbulence tend to be short-lived. By comparison, economic expansions often last many years. Buying into Mastercard allows investors to take full advantage of these long periods of economic expansion and robust spending. Plus, it doesn't hurt that Mastercard has the second-highest share of credit-card network purchase volume in the U.S., the leading market for consumption.</p>\n<p>Investors can also sleep easy with the understanding that Mastercard strictly sticks to payment facilitation. Even though some of its peers also lend, and are therefore able to generate interest income and fees during bull markets, Mastercard has avoided becoming a lender. It's something you'll truly appreciate when a recession strikes. Whereas most financial stocks will be forced to set aside capital to cover credit or loan delinquencies, Mastercard won't have to. This is a big reason it bounces back from recessions quicker than most financial stocks.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4e1a1fe028efa4c966b66ef2cd466f5\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Teva Pharmaceutical Industries</h2>\n<p>If you have an appetite for turnaround plays, brand-name and generic-drug developer <b>Teva Pharmaceutical Industries</b> (NYSE:TEVA) is the stock to buy hand over fist for the second half of 2021. Like Amazon, it's a stock that was added to Berkshire Hathaway's portfolio by either Combs or Weschler and not Buffett.</p>\n<p>While there's no denying that Teva has its fair share of hurdles to overcome, the company's turnaround-focused CEO, Kare Schultz, has been a blessing. Since taking the helm less than four years ago, Schultz has helped shave off more than $10 billion in net debt, and he's overseen the reduction of roughly $3 billion in annual operating expenses. There's more work to do to improve Teva's balance sheet, but the company is very clearly on much firmer ground than it was back in 2016-2017.</p>\n<p>Schultz also has the potential to play peacemaker for a number of outstanding lawsuits targeting Teva's role in the opioid crisis. If this litigation can be resolved with minimal cash outlay, Teva's valuation could soar. At just 4 times the company's projected earnings in 2021, Teva is about as cheap as a healthcare stock can get.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44a30c4dfd6886a29e22d3c6558c3e56\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Bank of America</h2>\n<p>Lastly, bank stock <b>Bank of America</b> (NYSE:BAC) has the look of a company that can be confidently bought hand over fist for the second half of 2021.</p>\n<p>For much of the past decade, the Federal Reserve has kept interest rates at or near historic lows. That's meant less in the way of interest income for banks. But the latest update from the nation's central bank suggests that interest rates could begin creeping up in 2023, a year earlier than previously forecast. Bank of America is the most interest-sensitive money-center bank. According to its first-quarter investor presentation, BofA would generate $8.3 billion in net interest income on a 100-basis-point shift in the interest rate yield curve. Translation: Bank of America's profits should rocket higher beginning in 2023-2024.</p>\n<p>At the same time, BofA has done an outstanding job of controlling its costs and improving its operating efficiency. Investments in digitization have resulted in higher mobile app and digital banking use, which is allowing the company to consolidate some of its branches. Even with its shares at a 13-year high, Bank of America has plenty left in the tank.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021</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\">\n5 Buffett Stocks to Buy Hand Over Fist for the Second Half of 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","AMZN":"亚马逊","BMY":"施贵宝","BRK.B":"伯克希尔B","TEVA":"梯瓦制药","BRK.A":"伯克希尔","MA":"万事达"},"source_url":"https://www.fool.com/investing/2021/06/26/buffett-stocks-buy-hand-over-fist-second-half-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146090006","content_text":"When Warren Buffett buys or sells a stock, Wall Street and retail investors tend to pay very close attention. That's because the Oracle of Omaha's track record is virtually unsurpassed. Since taking the reins of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) in the mid-1960s, Buffett's company has averaged an annual return of 20%. This works out to an aggregate gain of greater than 2,800,000% for its Class A shares.\nAlthough Buffett isn't perfect, he and his investing team have a knack for identifying attractively valued businesses that have clear competitive advantages. As we prepare to move into the second half of 2021, the following five Buffett stocks stand out as those that should be bought hand over fist.\nBerkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.\nAmazon\nEven though Buffett's investing lieutenants, Todd Combs and Ted Weschler, are the architects behind Berkshire Hathaway's stake in Amazon (NASDAQ:AMZN), it's arguably the Buffett stock that should be bought most aggressively ahead of the second half of the year.\nAs most folks probably know, Amazon is an e-commerce juggernaut. Based on an April report from eMarketer, the company effectively controls $0.40 of every $1 spent online in the United States. It's also pivoted its online retail popularity into signing up more than 200 million people to its Prime program worldwide. The fees Amazon collects from Prime help it to undercut its competition on price. And it certainly doesn't hurt that Prime members tend to spend many multiples more than non-Prime shoppers during the course of the year.\nBut it's the company's cloud infrastructure service, Amazon Web Services (AWS), that has truly budded into a star. Since the operating margins associated with cloud infrastructure are considerably higher than what Amazon nets from retail and advertising, AWS' growth is leading to a surge in operating cash flow. If investors were to continue to pay the midpoint of Amazon's operating cash flow multiple over the past decade, it could hit $10,000 a share by 2025.\nImage source: Getty Images.\nBristol Myers Squibb\nPharmaceutical stocks are money machines, and none looks to be more attractive on a valuation basis than Bristol Myers Squibb (NYSE:BMY).\nOne reason to be excited about this drug developer is its organic growth potential. Eliquis, which was co-developed with Pfizer, has blossomed into the world's leading oral anticoagulant, with sales expected to surpass $10 billion in 2021. Meanwhile, dozens of additional clinical trials are underway for cancer immunotherapy Opdivo, which generated $7 billion in sales last year. This offers plenty of opportunity to expand Opdivo's label and pump up its pricing power.\nAnother reason Bristol Myers Squibb is such an intriguing stock is its November 2019 acquisition of cancer and immunology company Celgene. Buying Celgene brought the blockbuster multiple-myeloma drug Revlimid into the fold. Revlimid has sustainably grown its annual sales by a double-digit percentage for more than a decade, with label expansion, longer duration of use, and pricing power all playing a role. This key treatment, which topped $12 billion in sales last year, is protected from a full onslaught of generic competition until early 2026. That means Bristol Myers will be rolling in the dough for another five years, at minimum.\nImage source: Getty Images.\nMastercard\nEveryone seems to be looking for the smartest recovery play from the pandemic. Payment processor Mastercard (NYSE:MA) might well be the safest way to take advantage of a steady uptick in consumer and enterprise spending.\nMastercard isn't a cheap stock by any means -- at 36 times Wall Street's forward-year earnings consensus -- but it benefits from a simple numbers game. While economic contractions and recessions are inevitable, these periods of turbulence tend to be short-lived. By comparison, economic expansions often last many years. Buying into Mastercard allows investors to take full advantage of these long periods of economic expansion and robust spending. Plus, it doesn't hurt that Mastercard has the second-highest share of credit-card network purchase volume in the U.S., the leading market for consumption.\nInvestors can also sleep easy with the understanding that Mastercard strictly sticks to payment facilitation. Even though some of its peers also lend, and are therefore able to generate interest income and fees during bull markets, Mastercard has avoided becoming a lender. It's something you'll truly appreciate when a recession strikes. Whereas most financial stocks will be forced to set aside capital to cover credit or loan delinquencies, Mastercard won't have to. This is a big reason it bounces back from recessions quicker than most financial stocks.\nImage source: Getty Images.\nTeva Pharmaceutical Industries\nIf you have an appetite for turnaround plays, brand-name and generic-drug developer Teva Pharmaceutical Industries (NYSE:TEVA) is the stock to buy hand over fist for the second half of 2021. Like Amazon, it's a stock that was added to Berkshire Hathaway's portfolio by either Combs or Weschler and not Buffett.\nWhile there's no denying that Teva has its fair share of hurdles to overcome, the company's turnaround-focused CEO, Kare Schultz, has been a blessing. Since taking the helm less than four years ago, Schultz has helped shave off more than $10 billion in net debt, and he's overseen the reduction of roughly $3 billion in annual operating expenses. There's more work to do to improve Teva's balance sheet, but the company is very clearly on much firmer ground than it was back in 2016-2017.\nSchultz also has the potential to play peacemaker for a number of outstanding lawsuits targeting Teva's role in the opioid crisis. If this litigation can be resolved with minimal cash outlay, Teva's valuation could soar. At just 4 times the company's projected earnings in 2021, Teva is about as cheap as a healthcare stock can get.\nImage source: Getty Images.\nBank of America\nLastly, bank stock Bank of America (NYSE:BAC) has the look of a company that can be confidently bought hand over fist for the second half of 2021.\nFor much of the past decade, the Federal Reserve has kept interest rates at or near historic lows. That's meant less in the way of interest income for banks. But the latest update from the nation's central bank suggests that interest rates could begin creeping up in 2023, a year earlier than previously forecast. Bank of America is the most interest-sensitive money-center bank. According to its first-quarter investor presentation, BofA would generate $8.3 billion in net interest income on a 100-basis-point shift in the interest rate yield curve. Translation: Bank of America's profits should rocket higher beginning in 2023-2024.\nAt the same time, BofA has done an outstanding job of controlling its costs and improving its operating efficiency. Investments in digitization have resulted in higher mobile app and digital banking use, which is allowing the company to consolidate some of its branches. Even with its shares at a 13-year high, Bank of America has plenty left in the tank.","news_type":1},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153332045,"gmtCreate":1625009636387,"gmtModify":1703849870836,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153332045","repostId":"1174683579","repostType":4,"repost":{"id":"1174683579","kind":"news","pubTimestamp":1624979875,"share":"https://ttm.financial/m/news/1174683579?lang=&edition=fundamental","pubTime":"2021-06-29 23:17","market":"us","language":"en","title":"Stocks look way overdue for at least a 5% pullback, based on history","url":"https://stock-news.laohu8.com/highlight/detail?id=1174683579","media":"CNBC","summary":"While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a","content":"<div>\n<p>While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a pullback, according to CFRA.\nThe economy continues to rebound from the pandemic, the Federal ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks look way overdue for at least a 5% pullback, based on history</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\">\nStocks look way overdue for at least a 5% pullback, based on history\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a pullback, according to CFRA.\nThe economy continues to rebound from the pandemic, the Federal ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/29/stocks-look-way-overdue-for-at-least-a-5percent-pullback-based-on-history.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1174683579","content_text":"While the backdrop for stocks is quite bullish, if history is any gauge, the market is overdue for a pullback, according to CFRA.\nThe economy continues to rebound from the pandemic, the Federal Reserve is sticking with its easy policies, interest rates are remaining low and investors appear to be dismissing inflation as a threat. The S&P 500 is closing out the first half of the year with a 14% gain.\nHowever, based on historical data from CFRA, the current market backdrop appears ripe for a pullback.\n“History says, but does not guarantee, that even though CFRA projects the S&P 500 to climb toward 4,444 by year-end, the S&P 500 is overdue for a decline in excess of 5%,” Sam Stovall, chief investment strategist at CFRA.\n\nAs of June 25, the S&P 500 has gone 275 calendar days since its last decline of 5% or more, which took place before the election in September when the 500-stock index lost nearly 10%.\nCFRA notes that since 1945, there have been 60 pullbacks (decline of 5%-9.9%), 23 corrections (declines of 10%-19.9%) and 13 bear markets (declines of 20% or more). The average timespan between these declines is 178 calendar days, making the current stretch the 19th longest since WWII.","news_type":1},"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159227674,"gmtCreate":1624971626898,"gmtModify":1703849085417,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159227674","repostId":"1128482198","repostType":4,"repost":{"id":"1128482198","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624968506,"share":"https://ttm.financial/m/news/1128482198?lang=&edition=fundamental","pubTime":"2021-06-29 20:08","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1128482198","media":"Tiger Newspress","summary":"U.S. futures drift after tech drives U.S. gauges to records\n\n\nTreasuries steady; oil dips as gold he","content":"<ul>\n <li>U.S. futures drift after tech drives U.S. gauges to records</li>\n</ul>\n<ul>\n <li>Treasuries steady; oil dips as gold heads for monthly drop</li>\n</ul>\n<p>Stocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.</p>\n<p>At 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&amp;P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a935accd8480c3f8c58f58577a4c7c3\" tg-width=\"1080\" tg-height=\"401\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p>\n<p>Morgan Stanley&nbsp;jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.</p>\n<p>JPMorgan Chase &amp; Co&nbsp;and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.</p>\n<p>A reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.</p>\n<p><b>Stocks making the biggest moves in the premarket:</b></p>\n<p><b>Big banks</b> –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and&nbsp;Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.</p>\n<p><b>Facebook&nbsp;(FB)</b> – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.</p>\n<p><b>Tesla&nbsp;(TSLA)</b> – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.</p>\n<p><b>Boeing&nbsp;(BA)</b> – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.</p>\n<p><b>FactSet&nbsp;(FDS)</b> – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.</p>\n<p><b>Herman Miller&nbsp;(MLHR)</b> – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.</p>\n<p><b>Jefferies Financial&nbsp;(JEF)</b> – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.</p>\n<p><b>XPO Logistics&nbsp;(XPO)</b> – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.</p>\n<p><b>Herbalife Nutrition&nbsp;(HLF)</b> – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.</p>\n<p><b>General Electric&nbsp;(GE)</b> – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.</p>\n<p><b>Textron&nbsp;(TXT)</b> – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.</p>\n<p><b>FedEx&nbsp;(FDX)</b> – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.</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>Toplines Before US Market Open on Tuesday</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\">\nToplines Before US Market Open on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-29 20:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. futures drift after tech drives U.S. gauges to records</li>\n</ul>\n<ul>\n <li>Treasuries steady; oil dips as gold heads for monthly drop</li>\n</ul>\n<p>Stocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.</p>\n<p>At 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&amp;P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a935accd8480c3f8c58f58577a4c7c3\" tg-width=\"1080\" tg-height=\"401\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p>\n<p>Morgan Stanley&nbsp;jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.</p>\n<p>JPMorgan Chase &amp; Co&nbsp;and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.</p>\n<p>A reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.</p>\n<p><b>Stocks making the biggest moves in the premarket:</b></p>\n<p><b>Big banks</b> –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and&nbsp;Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.</p>\n<p><b>Facebook&nbsp;(FB)</b> – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.</p>\n<p><b>Tesla&nbsp;(TSLA)</b> – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.</p>\n<p><b>Boeing&nbsp;(BA)</b> – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.</p>\n<p><b>FactSet&nbsp;(FDS)</b> – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.</p>\n<p><b>Herman Miller&nbsp;(MLHR)</b> – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.</p>\n<p><b>Jefferies Financial&nbsp;(JEF)</b> – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.</p>\n<p><b>XPO Logistics&nbsp;(XPO)</b> – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.</p>\n<p><b>Herbalife Nutrition&nbsp;(HLF)</b> – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.</p>\n<p><b>General Electric&nbsp;(GE)</b> – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.</p>\n<p><b>Textron&nbsp;(TXT)</b> – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.</p>\n<p><b>FedEx&nbsp;(FDX)</b> – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利","WFC":"富国银行",".SPX":"S&P 500 Index","TSLA":"特斯拉","GE":"GE航空航天",".DJI":"道琼斯","BA":"波音",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128482198","content_text":"U.S. futures drift after tech drives U.S. gauges to records\n\n\nTreasuries steady; oil dips as gold heads for monthly drop\n\nStocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.\nAt 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.\n*Source From Tiger Trade, EST 08:05\nMorgan Stanley jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.\nJPMorgan Chase & Co and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual \"stress tests\" last week.\nA reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.\nStocks making the biggest moves in the premarket:\nBig banks –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.\nFacebook (FB) – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.\nTesla (TSLA) – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.\nBoeing (BA) – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.\nFactSet (FDS) – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.\nHerman Miller (MLHR) – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.\nJefferies Financial (JEF) – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.\nXPO Logistics (XPO) – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.\nHerbalife Nutrition (HLF) – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.\nGeneral Electric (GE) – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.\nTextron (TXT) – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.\nFedEx (FDX) – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125439397,"gmtCreate":1624684354619,"gmtModify":1703843622261,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125439397","repostId":"2146107083","repostType":4,"repost":{"id":"2146107083","kind":"highlight","pubTimestamp":1624673250,"share":"https://ttm.financial/m/news/2146107083?lang=&edition=fundamental","pubTime":"2021-06-26 10:07","market":"us","language":"en","title":"3 Stocks You Can Keep Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2146107083","media":"Motley Fool","summary":"A long history of success coupled with bright prospects are the key ingredients for companies you can hold for the long term.","content":"<p>When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As&nbsp;<b>Amazon</b>&nbsp;founder Jeff&nbsp;Bezos&nbsp;believes, the focus should be on what stays the same, as opposed to what we think might change in the future.&nbsp;</p>\n<p>This means that sticking to boring, steady, and predictable companies can be a worthwhile strategy. Fitting this description, here are three stocks you can keep forever.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75b7346a4d92cde9e5d2740346749150\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2>1. Costco Wholesale</h2>\n<p><b>Costco Wholesale</b> (NASDAQ:COST), with its&nbsp;809 warehouses around the world, generated sales of $44.4 billion in the most recent quarter, a 21.7% jump from the prior-year period. As <a href=\"https://laohu8.com/S/AONE\">one</a> of the world's largest retailers, Costco was a mission-critical business during the onset of the coronavirus pandemic. Consumers visited stores to shop for everything from cleaning supplies to food.&nbsp;</p>\n<p>The company's operations haven't changed much over time, and they likely won't anytime soon. Even e-commerce sales, which expanded rapidly over the past&nbsp;year&nbsp;and grew 41.2%&nbsp;in the most recent quarter, are slowing down. During the month of May, online revenue rose&nbsp;just&nbsp;12.1%, signaling&nbsp;that shoppers&nbsp;are able and willing to transact more in person now.&nbsp;</p>\n<p>Costco is a&nbsp;recession-proof business&nbsp;that does well in good and bad economic times, which provides the safety investors want in a forever stock. Moreover, the reliance on membership fees, of which Costco generated $901&nbsp;million&nbsp;last quarter, allows the company to keep prices very low. As of March 31, Costco had 109.8&nbsp;million&nbsp;membership cardholders.&nbsp;</p>\n<p>Costco has and will continue to gain from its relentless focus to pass on savings to customers. This consumer-friendly fixation makes it difficult for rivals to compete and makes the business that much more loved by its shoppers.&nbsp;</p>\n<h2>2. Home Depot</h2>\n<p><b>Home Depot</b>&nbsp;(NYSE:HD) has grown to a $331 billion business because people love to spend on their homes. Again, this facet of human nature will never change, and it was on full display over the past year. Home Depot's revenue in fiscal 2020 increased 19.9%, the fastest annual gain in at least a decade. As consumers spent more time indoors and shifted spending away from travel, entertainment, and leisure, Home Depot benefited greatly.&nbsp;</p>\n<p>And even as we slowly recover from the pandemic, the&nbsp;momentum is still strong. Same-store sales (or comps) in the most recent quarter shot&nbsp;up 31%, continuing an acceleration over the past four quarters. The housing market is on fire, supported by still historically low interest rates and rising home prices, all of which support demand for Home Depot's products.&nbsp;</p>\n<p>The company serves both do-it-yourself (DIY) and professional (Pro) customers. The former outperformed during 2020, but the latter is reemerging as a real growth driver as people require work on bigger projects and are more comfortable allowing contractors into their homes. Additionally, a seamless omnichannel approach allows customers to shop Home Depot in whatever manner they like. In the most recent quarter, 55%&nbsp;of online orders were actually fulfilled at a store.&nbsp;</p>\n<p>Home Depot&nbsp;paid $1.8 billion in dividends in the first quarter, and also bought back $4 billion worth of shares. Focusing on returning excess cash to shareholders further boosts investor returns.&nbsp;</p>\n<h2>3. Starbucks</h2>\n<p><b>Starbucks</b>&nbsp;(NASDAQ:SBUX), the ubiquitous coffeehouse chain with nearly 33,000&nbsp;locations worldwide, is arguably an even more important part of people's daily lives than the previous two&nbsp;companies. Americans (and the rest of the world) need their caffeine fix, and Starbucks is there to deliver.&nbsp;</p>\n<p>The business is&nbsp;back to registering growth in the U.S. following a huge slowdown last year. With 22.9 million&nbsp;active rewards members, Starbucks' top-notch loyalty program encourages repeat business. In the most recent quarter, a whopping 52% of sales at U.S. company-operated stores were from these rewards-program customers.&nbsp;</p>\n<p>You may think there isn't much growth left for this powerful brand that already has stores basically everywhere, but think again. During the investor day presentation last December, CFO Patrick Grismer claimed that by 2030, Starbucks plans to have 55,000 outlets in 100 markets globally. This 67% increase would make it the largest restaurant chain in the world. With revenue of $23.8 billion over the past 12 months, this ambitious goal should certainly boost that number significantly.&nbsp;</p>\n<p>Expect China, where comps soared 91%&nbsp;in the most recent quarter, to be a major growth driver going forward. Starbucks plans to open&nbsp;600&nbsp;net new stores in the country just in this fiscal year.&nbsp;</p>\n<h2>Boring is beautiful&nbsp;</h2>\n<p>All three of these companies are absolutely essential in their customers' lives. Without Costco, Home Depot, or Starbucks, people wouldn't be able to get the things they desperately need. Furthermore, they all benefit from strong competitive advantages that protect them from rival firms.&nbsp;</p>\n<p>In the future, we know with a high level of confidence that the products that these businesses sell will still be in high demand. This is the primary reason why they are three stocks you can keep forever.&nbsp;</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks You Can Keep Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks You Can Keep Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As Amazon founder Jeff Bezos ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SBUX":"星巴克","HD":"家得宝","COST":"好市多"},"source_url":"https://www.fool.com/investing/2021/06/25/3-stocks-you-can-keep-forever/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146107083","content_text":"When looking for investments that have the potential to be held forever, it's beneficial not to only look at the latest technological craze or most disruptive businesses. As Amazon founder Jeff Bezos believes, the focus should be on what stays the same, as opposed to what we think might change in the future. \nThis means that sticking to boring, steady, and predictable companies can be a worthwhile strategy. Fitting this description, here are three stocks you can keep forever.\nImage source: Getty Images.\n1. Costco Wholesale\nCostco Wholesale (NASDAQ:COST), with its 809 warehouses around the world, generated sales of $44.4 billion in the most recent quarter, a 21.7% jump from the prior-year period. As one of the world's largest retailers, Costco was a mission-critical business during the onset of the coronavirus pandemic. Consumers visited stores to shop for everything from cleaning supplies to food. \nThe company's operations haven't changed much over time, and they likely won't anytime soon. Even e-commerce sales, which expanded rapidly over the past year and grew 41.2% in the most recent quarter, are slowing down. During the month of May, online revenue rose just 12.1%, signaling that shoppers are able and willing to transact more in person now. \nCostco is a recession-proof business that does well in good and bad economic times, which provides the safety investors want in a forever stock. Moreover, the reliance on membership fees, of which Costco generated $901 million last quarter, allows the company to keep prices very low. As of March 31, Costco had 109.8 million membership cardholders. \nCostco has and will continue to gain from its relentless focus to pass on savings to customers. This consumer-friendly fixation makes it difficult for rivals to compete and makes the business that much more loved by its shoppers. \n2. Home Depot\nHome Depot (NYSE:HD) has grown to a $331 billion business because people love to spend on their homes. Again, this facet of human nature will never change, and it was on full display over the past year. Home Depot's revenue in fiscal 2020 increased 19.9%, the fastest annual gain in at least a decade. As consumers spent more time indoors and shifted spending away from travel, entertainment, and leisure, Home Depot benefited greatly. \nAnd even as we slowly recover from the pandemic, the momentum is still strong. Same-store sales (or comps) in the most recent quarter shot up 31%, continuing an acceleration over the past four quarters. The housing market is on fire, supported by still historically low interest rates and rising home prices, all of which support demand for Home Depot's products. \nThe company serves both do-it-yourself (DIY) and professional (Pro) customers. The former outperformed during 2020, but the latter is reemerging as a real growth driver as people require work on bigger projects and are more comfortable allowing contractors into their homes. Additionally, a seamless omnichannel approach allows customers to shop Home Depot in whatever manner they like. In the most recent quarter, 55% of online orders were actually fulfilled at a store. \nHome Depot paid $1.8 billion in dividends in the first quarter, and also bought back $4 billion worth of shares. Focusing on returning excess cash to shareholders further boosts investor returns. \n3. Starbucks\nStarbucks (NASDAQ:SBUX), the ubiquitous coffeehouse chain with nearly 33,000 locations worldwide, is arguably an even more important part of people's daily lives than the previous two companies. Americans (and the rest of the world) need their caffeine fix, and Starbucks is there to deliver. \nThe business is back to registering growth in the U.S. following a huge slowdown last year. With 22.9 million active rewards members, Starbucks' top-notch loyalty program encourages repeat business. In the most recent quarter, a whopping 52% of sales at U.S. company-operated stores were from these rewards-program customers. \nYou may think there isn't much growth left for this powerful brand that already has stores basically everywhere, but think again. During the investor day presentation last December, CFO Patrick Grismer claimed that by 2030, Starbucks plans to have 55,000 outlets in 100 markets globally. This 67% increase would make it the largest restaurant chain in the world. With revenue of $23.8 billion over the past 12 months, this ambitious goal should certainly boost that number significantly. \nExpect China, where comps soared 91% in the most recent quarter, to be a major growth driver going forward. Starbucks plans to open 600 net new stores in the country just in this fiscal year. \nBoring is beautiful \nAll three of these companies are absolutely essential in their customers' lives. Without Costco, Home Depot, or Starbucks, people wouldn't be able to get the things they desperately need. Furthermore, they all benefit from strong competitive advantages that protect them from rival firms. \nIn the future, we know with a high level of confidence that the products that these businesses sell will still be in high demand. This is the primary reason why they are three stocks you can keep forever.","news_type":1},"isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123321250,"gmtCreate":1624409815370,"gmtModify":1703835747927,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"Sure","listText":"Sure","text":"Sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123321250","repostId":"1165385736","repostType":4,"isVote":1,"tweetType":1,"viewCount":331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129118807,"gmtCreate":1624364741209,"gmtModify":1703834435284,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129118807","repostId":"1196246436","repostType":4,"repost":{"id":"1196246436","kind":"news","pubTimestamp":1624364145,"share":"https://ttm.financial/m/news/1196246436?lang=&edition=fundamental","pubTime":"2021-06-22 20:15","market":"us","language":"en","title":"Futures Steady Ahead Of Powell Testimony","url":"https://stock-news.laohu8.com/highlight/detail?id=1196246436","media":"zerohedge","summary":"U.S. stock-index futures were little changed, trading just 1% below their all time high, while globa","content":"<p>U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects for post-pandemic economic growth, putting fears of a hawkish Fed in the rearview mirror even as they awaited Fed Chair Jerome Powell’s testimony before Congress. Nasdaq 100 futures extend increase to as much as 0.3%, the highest for Tuesday’s session, with contracts on the S&amp;P 500 rising 0.1% as of 7:15am in New York.</p>\n<p><img src=\"https://static.tigerbbs.com/ed5a889978f8667ba77c1ed2e40814d0\" tg-width=\"500\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p>\n<p>In premarket trading, meme stock Torchlight Energy Resources jumped 10.5% on heavy volume following a 58% surge to a record on Monday, as the company upsized its stock offering after its shares doubled in value last week on interest from individual traders. Other meme stocks trade mostly higher with ContextLogic (WISH) rising 3.3% and Clover Health (CLOV) gaining 1.9%.</p>\n<p>Here are some other notable premarket movers:</p>\n<ul>\n <li>Adial Pharmaceuticals (ADIL) surges 28% in&nbsp;premarket&nbsp;trading after a positive mention of the company in a post on the Seeking Alpha investment site.</li>\n <li>Microvision (MVIS) sinks 9% after saying it may offer from time to time up to $140 million in shares via Craig-Hallum Capital Group.</li>\n <li>Nikola (NKLA) drops 2% after registering shares for potential sale by holder Tumim Stone Capital.</li>\n <li>Crypto stocks including miners Riot Blockchain, Marathon Patent Group, Ebang International and MicroStrategy Inc fell between 2% and 3% as China’s crackdown on bitcoin mining expanded to the province of Sichuan.</li>\n</ul>\n<p>The Dow jumped more than 500 points on Monday following last week’s selloff, its best day since early March, with the largest share of S&amp;P members advancing since April 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/85b1fcb2babcd8957762a4b8fb732918\" tg-width=\"1198\" tg-height=\"672\" referrerpolicy=\"no-referrer\">Market participants piled back into energy, financials and industrial stocks when Fed officials including as St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan toned down their hawkish rhetoric which accelerated last week's rout.</p>\n<p>\"Last week's FOMC meeting was a hawkish surprise, but does not change our market outlook. The reflation trade experienced a sharp technically driven pullback, but we expect the trade to resume and see this move as an opportunity to add exposure to cyclical equities and commodities,\" JPMorgan strategists said in a note.</p>\n<p>European stocks looked set to build on gains in Asian markets as EuroSTOXX 50 futures rose 0.4% and FTSE futures were up 0.3%. Declines in shares of carmakers and banks offset gains in real estate stocks. Europe’s Stoxx 600 travel and leisure subgroup rose as much as 0.8%, making it the second-best performing sector in the benchmark index, after The Times reported that the U.K. is set to announce an overhaul of travel restrictions on Thursday. Here are some of the biggest European movers today:</p>\n<ul>\n <li>Kingspan shares rise as much as 6.1% with Morgan Stanley (equal- weight) saying the key positive from its trading update is the strong margin performance.</li>\n <li>BT shares gain as much as 2.1%, among top performers in the Stoxx Telecom Index, following a report that Rupert Murdoch’s News UK is looking at a tie-up with BT Sport.</li>\n <li>Bossard shares gain as much as 5% to a record high. The company’s business model is “misunderstood” by the market and it is a niche play on the growth of industrial automation, Berenberg writes in a note initiating the stock at buy with a street-high CHF340 PT.</li>\n <li>Casino shares rise as much as 2% after a report saying that retail mogul Micheal Klein started to build a minority position in the Brazilian firm GPA, following a similar move by retailing billionaire Abilio Diniz.</li>\n <li>DS Smith shares fall as much as 3.1% after reporting adjusted operating profit that missed the average analyst estimate.</li>\n</ul>\n<p>MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, moving above Monday's four-week lows and notching a 4% gain so far this year, while the broader MSCI&nbsp;Asia&nbsp;Pacific Index rose 0.9%,<b>putting it on track for its best day since May 25.</b>Japanese shares led the advance in Asia, as investor concerns over the pace of U.S. monetary policy tightening and rising inflation eased. It is now poised to snap four straight days of declines. The buoyant performance comes after Federal Reserve Chair Jerome Powell reiterated overnight that inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. The New York Fed’s president also said that he continues to view the recent spike in inflation as a temporary phenomenon. Cyclical shares recovered from the recent sell-off, with industrials and materials leading the charge.<b>Japanese equities rebounded, with the Topix climbing by the most in one year one day after the BOJ intervened to buy ETFs for the first time since April.</b>Investors largely expect&nbsp;Asia’s&nbsp;stock market to remain resilient despite the prospects of a gradual tapering of global liquidity and a resurgent dollar. Supporting the region’s equities are attractive valuations, falling Covid-19 cases and relatively low levels of bond yields. The stock benchmark remains more than 6% below a record high it reached in February. “We expect&nbsp;Asia&nbsp;to broadly remain on a healthy recovery path” supported by a broad-based growth in exports and industrial output, Alex Wolf, head of investment strategy for&nbsp;Asia&nbsp;at JPMorgan Private Bank, wrote in a note. “We think three factors will be key to watch over the rest of 2021: vaccination progress, exports -- particularly semiconductors, and China’s recovery.”</p>\n<p><b>Today, all eyes will be on Fed Chair Powell, who’s testifying at 2pm ET before the House of Representatives’ Select Subcommittee on the coronavirus crisis,</b>where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “<b>job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.”</b>He also said inflation has “<b>increased notably in recent months” but regarded the recent jump as likely to fade</b>.&nbsp; Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.</p>\n<p>“Powell will repeat that inflation is transitory and will drop back ‘as these transitory supply effects abate’,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “How much time do we have before the supply effects abate is a big question.”</p>\n<p>“There’s probably going to be some back and forth here,” said&nbsp;Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy.<b>“There is a lot of cash on the sidelines right now. Some of that is going to be earmarked to go into the markets, and we think the best place right now to be investing is in the equity markets.”</b></p>\n<p>In rates, 10-year Treasuries steadied, trading at 1.49% last. Yields were richer across the curve, with 5s30s flatter by ~1bp; 10-year around 1.48% outperforms bunds and gilts slightly Regional demand emerged during Asia session, renewing the bull-flattening trend that stalled on Monday. Treasury auctions include $60b 2-year note, followed by 5- and 7-year on Wednesday and Thursday. The WI 2-year yield at ~0.257% is higher than auction stops since March 2020 and 10.5bp cheaper than last month’s, which stopped through by 0.7bp</p>\n<p>In currency markets, the dollar spot Index rose as the greenback traded higher versus all of its Group-of-10 peers and the 10-year Treasury yield hovered around 1.49% The pound fell for a fifth day in six sessions on broad dollar strength and as investors awaited signals on the Bank of England’s inflation outlook on Thursday. Norway’s krone fell to a session low as Brent oil retreated after earlier rising to $75 a barrel for the first time in more than two years. Australia’s currency led losses with iron ore extending Monday’s slump. The yen fell to trade around 110.50; bonds also declined and a five-year auction was weaker than expected.</p>\n<p>\"The whole world was mega short the U.S. dollar, and that's in good part has probably been cleaned out already, and now we take a wee breath before the next move up,\" said Westpac currency analyst Imre Speizer.</p>\n<p>In commodities, WTI was flat at $73.7 per barrel and Brent crude retreated after earlier topping $75/bbl for the first time in more than two years after rising on Monday in reaction the a pause in talks to end U.S. sanctions on Iranian crude. Oil market sentiment was helped by hopes for a quick recovery in oil demand in the United States and Europe. OPEC+ said it was discussing whether to further boost production as the oil market looks increasingly tight. Spot gold added 0.3% to $1,787.61 an ounce.</p>\n<p>Bitcoin sank closer to $30,000 after China intensified its&nbsp;cryptocurrency clampdown.</p>\n<p>Looking at the<b>day ahead</b>now, the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.</p>\n<p><b>Market Snapshot</b></p>\n<ul>\n <li>S&amp;P 500 futures down 0.1% to 4,207.75</li>\n <li>STOXX Europe 600 down -0.3% to 453.94</li>\n <li>MXAP up 0.9% to 206.17</li>\n <li>MXAPJ little changed at 687.97</li>\n <li>Nikkei up 3.1% to 28,884.13</li>\n <li>Topix up 3.2% to 1,959.53</li>\n <li>Hang Seng Index down 0.6% to 28,309.76</li>\n <li>Shanghai Composite up 0.8% to 3,557.41</li>\n <li>Sensex up 0.3% to 52,715.63</li>\n <li>Australia S&amp;P/ASX 200 up 1.5% to 7,342.20</li>\n <li>Kospi up 0.7% to 3,263.88</li>\n <li>Brent Futures down 0.4% to $74.63/bbl</li>\n <li>German 10Y yield rose 2.2 bps to -0.149%</li>\n <li>Euro down 0.2% to $1.1899</li>\n <li>Gold spot down 0.3% to $1,777.25</li>\n <li>U.S. Dollar Index up 0.14% to 92.03</li>\n</ul>\n<p><b>Top Overnight News from Bloomberg</b></p>\n<ul>\n <li>Leveraged funds boosted net dollar shorts by 21,347 contracts in the week ended June 15, the most since mid-January, according to data from the Commodity Futures Trading Commission.</li>\n <li>Germany increased the amount of planned bond sales in the third quarter by 2 billion euros ($2.4 billion) to help cover financing for the ruling coalition’s generous aid programs to offset the impact of the coronavirus pandemic</li>\n <li>China’s intensifying cryptocurrency crackdown has left Bitcoin flirting with $30,000, a price level seen as key to the short-term outlook for the largest virtual currency</li>\n <li>Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter</li>\n <li>Mario Draghi has cemented his position in Italy and his political partners are beginning to assume he’ll remain in power until his term ends in 2023. That is the assessment of half a dozen senior officials from all the main parties and inside the government</li>\n <li>Hungary is set to become the first European Union nation to tighten monetary policy this year, with the central bank widely expected to raise borrowing costs on Tuesday in an attempt to curb surging inflation</li>\n <li>A raft of disappointing economic data from China last week, especially the sluggish recovery in consumption, has prompted economists to cut their estimates for China’s output in 2021.</li>\n</ul>\n<p><i>Quick look at global markets courtesy of Newsquawk</i></p>\n<p><b>Asia-Pac equities staged a rebound from the prior day's sell-off as the region reacted to the rally seen on Wall Street, whereby the DJIA outperformed whilst the Nasdaq’s upside was hindered by the recovery in yields.</b>Overnight, US equity futures traded flat and near the prior session’s best levels ahead of Fed Chair Powell’s testimony – but before that, 2022-voter Mester is poised to make remarks on monetary policy ahead of commentary from 2021-voter Daly. Over in APAC markets, the ASX 200 (+1.5%) was supported by its Telecoms and Financials sectors whilst the Nikkei 225 (+3.1%) trimmed some of the prior session’s hefty losses as reports of BoJ ETF purchases providing Tokyo with some tailwinds. The KOSPI (+0.7%) saw cautious gains as Yonhap reported that South Korea and the US are mulling ending the working group on North Korean policy, whilst North Korea tempered down expectations of dialogue with the US. Hang Seng (-0.6%) and Shanghai Comp (+0.8%) varied with the former pressured after the US reiterated its concern over Hong Kong’s autonomy, whilst the latter remained within recent ranges. As a side note, crypto markets also saw a rebound following yesterday's bloodbath, albeit Bitcoin and Ethereum remained under 35k and 2k respectively. Finally, JGBs trade narrowly softer in tandem with UST and Bund futures waning off best levels.</p>\n<p><i>Top Asian News</i></p>\n<ul>\n <li>Jimmy Lai’s 26-Year-Old Tabloid All But Dead After Defying China; Carrie Lam Defends Apple Daily Arrests, Warns Media Outlets</li>\n <li>GIC Said to Near Deal to Buy Stake in Malaysia’s Sunway Hospital</li>\n <li>China Tourism May File for Hong Kong Listing This Week: IFR</li>\n <li>Korea Curve Steepens, China Repo Rises, Rupiah Bonds Halt Drop</li>\n</ul>\n<p><b>Ahead of the cash open, European index futures indicated a marginally firmer star to the session. However, as cash markets opened, sentiment dwindled and stocks were pushed into the red (Eurostoxx 50 -0.3%) with no real obvious catalyst behind the move</b>. US index futures ebbed lower at the same time with some minor initial underperformance in the tech-heavy e-mini Nasdaq, albeit moves have been confined to recent ranges as markets await further impetus ahead of a particularly busy week of Fed speak. Since then, we have seen a modest pick-up in the futures taking them nearer to the unchanged mark on the session, but still retaining a negative bias overall. On which, Fed Chair Powell is due to testify to Congress today at 1900BST/1400ET. Pre-released text was a reiteration of recent remarks, however, the Q&amp;A segment could offer some opportunity for the Chair to be pushed on the FOMC’s exit strategy and recent hawkish speakers e.g. Bullard; other Fed speakers today include 2022-voter Mester and 2021-voter Daly. In Europe, sectors are somewhat mixed with Oil &amp; Gas top of the pile amid the recent advances in the crude complex even in-light of today’s pressure on a potential ramping up of OPEC+ production (see commodities), whilst Tech and Health care lag peers with the former hampered by the mini-revival seen in yields since the start of the week which saw the US 10yr initially slip below 1.4%. Kepler Cheuvreux downgraded the European banking sector to neutral from overweight with analysts at the firm concerned that the reflation trade is not a foregone conclusion in a context where the steepening of the USD yield curve appears to have exhausted itself. In terms of stock specifics, BT (+0.6%) are slightly firmer on the session amid reports that Rupert Murdoch's News UK is reportedly looking into a tie-up with BT Sport. Finally, Travel &amp; Leisure names including Ryanair (+1.1%) and IAG (+1.0%) have been provided some support amid suggestions that UK ministers are to relax travel restrictions from August for those who have been fully vaccinated.</p>\n<p><i>Top European News</i></p>\n<ul>\n <li>U.K. Begins Negotiations to Join Trans-Pacific Trading Bloc</li>\n <li>Germany Boosts Third-Quarter Bond Issuance by 2 Billion Euros</li>\n <li>Aston Martin Sues Dealer Over Deposits for $3.5 Million Valkyrie</li>\n <li>Tech Stocks Tumble as Prosus Falls, Pandemic Winners Decline</li>\n</ul>\n<p><b>In FX,</b>there was some calm after Monday’s relatively lively session amidst pronounced risk-off APAC trade before a steady recovery in sentiment that prompted a retreat in safe-havens on little fresh news or data. Nevertheless, the DXY formed a base below 92.000 and is currently consolidating around its new pivot within a 91.890-92.139 range inside yesterday’s 91.826-92.375 range awaiting further direction that could come from today’s trio of Fed speakers or macro releases in the form of existing home sales and Richmond Fed composite readings. Note, however, the text of chair Powell’s testimony to Congress has already been published so anything new will likely come from the Q&amp;A section.</p>\n<ul>\n <li>AUD/GBP - It may be too early to label the day a turnaround Tuesday for the Aussie and Pound, but both have unwound a chunk of their gains vs the Buck after benefiting from its frailty yesterday, and Aud/Usd is also bearing the brunt of another slump in iron ore prices as it struggles to stay within touching distance of the 0.7500 handle. Note also, prelim payrolls and earnings data came in weaker than prior prints overnight ahead of flash PMIs tonight. Meanwhile, Sterling has relinquished 1.3900+ status, and perhaps partly due to a loss of technical momentum given that Cable topped out just pips shy of the 100 DMA (1.3941 vs 1.3937 high), while the Eur/Gbp cross held around 0.8550 before bouncing.</li>\n <li>CAD/CHF/NZD/EUR/JPY - A pull-back in WTI towards Usd 73/brl in wake of reports that Russia may push for higher OPEC+ crude output at next week’s summit, has undermined the Loonie ahead of Canadian retail sales on Wednesday, with Usd/Cad back up in the high 1.2300 area, while the Franc is beneath 0.9200 following fairly upbeat economic forecasts from Switzerland’s KOF. Elsewhere, the Kiwi is holding between 0.6995-63 parameters following a marked pick-up in NZ credit card spending and as Aud/Nzd eyes 1.0750 to the downside having been capped circa 1.0800, the Euro is straddling 1.1900 and Yen has retreated through 110.50 against the backdrop of higher US Treasury yields and curve re-steepening.</li>\n</ul>\n<p><b>In commodities,</b>WTI and Brent have seen downside, -0.5% and -0.4% respectively, after what was a relatively uneventful APAC session for the benchmarks. The pressure came just after the European cash equity open, which was softer than futures had implied, amid reports that Russia is considering proposing an increase in OPEC+ oil production at the July 1st gathering, according to officials. As Russia expects the global supply shortfall to persist over the medium-term horizon; note, Russian VP Novak is set to meet with various domestic oil companies today. This report sparked pressure in the benchmarks sending WTI and Brent August’21 futures below USD 73.00/bbl and USD 75.00/bbl respectively – a smaller bout of further pressure was seen on subsequent source reports that it is possible to increase supply gradually from August. Such an alteration would be in-fitting with the most recent IEA MOMR which wrote that “OPEC+ needs to open the taps to keep world oil markets adequately supplied; production hikes at current pace set to be nowhere near the levels needed to prevent further stock draws”. As a reminder, the current OPEC+ quotas which were set in April envisage 700k BPD and 850k BPD of oil re-entering the market in June and July respectively. Moving to metals, spot gold and silver are modestly softer on the session given upside in both the USD and yields this morning; however, the magnitude of ranges for the precious metals are contained when compared with action seen over the last week. On gold, JP Morgan retains its long-term bearish view on the metal in-light of last week’s FOMC updates and look for copper prices to ease into H2 as supply/demand imbalances resolve, taking the view that the metal peaked in Q2.</p>\n<p><b>US Event Calendar</b></p>\n<ul>\n <li>10:30am: Fed’s Mester Discusses Monetary Policy and Financial...</li>\n <li>11am: Fed’s Daly Speaks at Peterson Institute Event</li>\n <li>2pm: Powell Testifies to Congress on Covid-19 Response and Economy</li>\n</ul>\n<p><b>DB's Jim Reid concludes the overgnight wrap</b></p>\n<p>When we went to press yesterday morning I was left very confused as to why US 10 year yields had sunk even further overnight to around 1.36% from 1.44% at the Asian open. It felt like it might be the longest day of the year in markets as well as in daylight terms. Well 4 hours later they had moved back to 1.44% and then 1.49% after another 6 hours early in the US session - roughly where they closed and where they are trading now in Asia. To be fair the real action continues to be in the 30 year part of the curve which opened in Asia yesterday at 2.01%, rallied to 1.925% but then reversed course all day and flirted with 2.10% as Europe went home before closing at 2.11% (2.12% in Asia). There was no real new news so the earlier price action perhaps indicates that there might have been some positioning/liquidation issues out there yesterday to explain such swings. This is part of the reason I wouldn’t try to over analyse the macro implications of these moves at the moment. There seems to be a lot of technical things going on at the moment including the Treasury running down their cash holdings at the Fed. As such I think it’s far too early to suggest that the price action reflects a view that the Fed made a policy error last Wednesday.</p>\n<p>Equity markets seemed to like a return of more normal yields as they have been a bit shaken by the bond reaction post the FOMC. In fact by the close of yesterday’s session, the S&amp;P 500 had rebounded +1.40% to put the index back within 1% of its all-time closing high last week. So quite the reversal from its worst weekly performance since February. Even the dollar (which saw its best performance since September last week) changed gears to close -0.35% lower on the day.</p>\n<p>In the absence of other events on the calendar, Fed speakers were in focus yesterday with St Louis President Bullard (non-voter, dove) and Dallas President Kaplan (non-voter, hawk) kicking off proceedings. Notably, Bullard said that the Fed ought to set up its taper so it could be adjusted if necessary, which raises the prospect that the pace could change depending on the strength of the economic recovery and inflation outcomes. And he himself alluded to the uncertainty in the outlook, saying that “No one really knows how this is all going to unfold. We have to be ready for the idea that there is upside risk to inflation and for it to go higher”. Separately, Kaplan said that he was in favour of beginning the tapering process sooner rather than later. However the timeline is still uncertain, as later in the session New York Fed President Williams said that he still sees tapering as “quite a ways off.” Williams also expects inflation to return to 2% next year and that the long-term trends that have depressed inflation in recent years will be the overriding force once again. After a year of coordinated messaging, it seems like there is more dispersion of views coming out of the committee now. I think this is more healthy.</p>\n<p>Today, all eyes will be on Fed Chair Powell, who’s testifying at 7pm London time before the House of Representatives’ Select Subcommittee on the coronavirus crisis, where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.” Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.</p>\n<p>Running through the market moves yesterday, US equities saw an incredibly broad-based advance, with 482 companies moving higher in the S&amp;P on the day, which remarkably represents the highest number of gainers in over a year. The S&amp;P gains were led by the cyclical/reopening trade as yields rebounded while tech stocks lagged somewhat, with the NASDAQ seeing a smaller +0.79% advance, though that still left the index within 0.5% of its own all-time high. Small-cap stocks saw even larger gains, as the Russell 2000 was up +2.16%. Over in Europe, equity markets saw their own slightly more subdued rebound with the STOXX 600 ending the day up +0.70%.</p>\n<p>For sovereign bond markets it was an eventful day as discussed at the top, with yields moving noticeably lower prior to the open in Europe before ending the day higher. Furthermore, we saw curves begin to steepen again following the major flattening last week, with the US 2s10s curve up +4.8bps, and the 5s30s up +8.6bps. Europe saw much the same story once the global sell-off begun, with yields on bunds (+2.9bps), OATs (+0.5bps) and BTPs (+0.4bps) all moving higher.</p>\n<p>Overnight in Asia, markets are following Wall Street’s lead with the Nikkei (+2.95%), Shanghai Comp (+0.78%) and Kospi (+0.77%) all making gains. The Hang Seng (-0.01%) is trading broadly flat. Outside of Asia, futures on the S&amp;P 500 are up +0.18% and those on the Stoxx 50 are up +0.35%.</p>\n<p>Elsewhere, both Brent Crude (+1.89%) and WTI (+2.82%) oil prices climbed to fresh 2-year highs of $74.90/bbl and $73.66/bbl respectively. Indeed that rise for WTI yesterday now means it’s risen by more than +50% on a YTD basis, making it the first major asset in our performance review basket to reach that milestone this year. Overnight, Brent oil prices have crossed $75 mark for the first time since April 2019. Other commodities also performed decently yesterday, including copper (+0.65%), gold (+1.08%), silver (+0.64%) and corn (+0.61%), with all 4 recovering ground following last week’s losses. Speaking of commodities, I looked at the change in various prices over the last 2 years in my chart of the day yesterday (link here), pointing out that in spite of the declines from their recent peaks this year, they still remain well above their levels 2 years ago. So some perspective is needed to the recent falls.</p>\n<p>In terms of new-age commodities, the selloff in crypto-assets took another leg lower yesterday following news that China called a meeting of leaders of its largest banks to reiterate a ban on cryptocurrency services. Bitcoin fell -9.05% to $32,582, its lowest level since late-January. Ethereum (-14.0%), Litecoin (-14.0%) and XRP (-12.6%) all followed suit.</p>\n<p>In terms of the latest on the pandemic, UK Prime Minister Johnson said that for England, “I think it’s looking good for July 19 to be that terminus point” when the easing of restrictions could take place. Nevertheless, a further 10,633 cases were reported in the UK yesterday, which took the weekly average to its highest since late-February, at 9,778. The rate of increase has slowed though. In Germany, Health Minister Spahn warned the delta variant may cause a 4th wave of infections, saying the government would remain cautious when the calendar turns over to Autumn and Winter. Elsewhere, it was announced that spectators at the Tokyo Olympics would be limited to either 10,000 or 50% capacity. Lastly, the White house announced that 150mn Americans, or over 45% of the overall population, are now fully vaccinated and 15 states along with Washington DC have now reached 70% of adults with at least one shot. However there has been a greater than 30% increase in Covid-19 hospitalisations in Missouri, Arkansas and Utah – all states with well below average vaccination rates – over the last week with the increase driven by 18-29 year olds, according to U.S. Department of Health &amp; Human Services data. The absolute numbers remain low and healthcare capacity is not a concern at this time, however local authorities are paying attention and cited low testing numbers as an additional concern.</p>\n<p>Finally, there wasn’t a great deal of data yesterday, though the Chicago Fed’s national activity index came in at 0.29 in May (vs. 0.70 expected), up from -0.09 in April.</p>\n<p>To the day ahead now, and the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.</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>Futures Steady Ahead Of Powell Testimony</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\">\nFutures Steady Ahead Of Powell Testimony\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/futures-steady-ahead-powell-testimony","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196246436","content_text":"U.S. stock-index futures were little changed, trading just 1% below their all time high, while global shares extended their recovery on Tuesday from four week lows, as investors focused on prospects for post-pandemic economic growth, putting fears of a hawkish Fed in the rearview mirror even as they awaited Fed Chair Jerome Powell’s testimony before Congress. Nasdaq 100 futures extend increase to as much as 0.3%, the highest for Tuesday’s session, with contracts on the S&P 500 rising 0.1% as of 7:15am in New York.\n\nIn premarket trading, meme stock Torchlight Energy Resources jumped 10.5% on heavy volume following a 58% surge to a record on Monday, as the company upsized its stock offering after its shares doubled in value last week on interest from individual traders. Other meme stocks trade mostly higher with ContextLogic (WISH) rising 3.3% and Clover Health (CLOV) gaining 1.9%.\nHere are some other notable premarket movers:\n\nAdial Pharmaceuticals (ADIL) surges 28% in premarket trading after a positive mention of the company in a post on the Seeking Alpha investment site.\nMicrovision (MVIS) sinks 9% after saying it may offer from time to time up to $140 million in shares via Craig-Hallum Capital Group.\nNikola (NKLA) drops 2% after registering shares for potential sale by holder Tumim Stone Capital.\nCrypto stocks including miners Riot Blockchain, Marathon Patent Group, Ebang International and MicroStrategy Inc fell between 2% and 3% as China’s crackdown on bitcoin mining expanded to the province of Sichuan.\n\nThe Dow jumped more than 500 points on Monday following last week’s selloff, its best day since early March, with the largest share of S&P members advancing since April 2020.\nMarket participants piled back into energy, financials and industrial stocks when Fed officials including as St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan toned down their hawkish rhetoric which accelerated last week's rout.\n\"Last week's FOMC meeting was a hawkish surprise, but does not change our market outlook. The reflation trade experienced a sharp technically driven pullback, but we expect the trade to resume and see this move as an opportunity to add exposure to cyclical equities and commodities,\" JPMorgan strategists said in a note.\nEuropean stocks looked set to build on gains in Asian markets as EuroSTOXX 50 futures rose 0.4% and FTSE futures were up 0.3%. Declines in shares of carmakers and banks offset gains in real estate stocks. Europe’s Stoxx 600 travel and leisure subgroup rose as much as 0.8%, making it the second-best performing sector in the benchmark index, after The Times reported that the U.K. is set to announce an overhaul of travel restrictions on Thursday. Here are some of the biggest European movers today:\n\nKingspan shares rise as much as 6.1% with Morgan Stanley (equal- weight) saying the key positive from its trading update is the strong margin performance.\nBT shares gain as much as 2.1%, among top performers in the Stoxx Telecom Index, following a report that Rupert Murdoch’s News UK is looking at a tie-up with BT Sport.\nBossard shares gain as much as 5% to a record high. The company’s business model is “misunderstood” by the market and it is a niche play on the growth of industrial automation, Berenberg writes in a note initiating the stock at buy with a street-high CHF340 PT.\nCasino shares rise as much as 2% after a report saying that retail mogul Micheal Klein started to build a minority position in the Brazilian firm GPA, following a similar move by retailing billionaire Abilio Diniz.\nDS Smith shares fall as much as 3.1% after reporting adjusted operating profit that missed the average analyst estimate.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, moving above Monday's four-week lows and notching a 4% gain so far this year, while the broader MSCI Asia Pacific Index rose 0.9%,putting it on track for its best day since May 25.Japanese shares led the advance in Asia, as investor concerns over the pace of U.S. monetary policy tightening and rising inflation eased. It is now poised to snap four straight days of declines. The buoyant performance comes after Federal Reserve Chair Jerome Powell reiterated overnight that inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. The New York Fed’s president also said that he continues to view the recent spike in inflation as a temporary phenomenon. Cyclical shares recovered from the recent sell-off, with industrials and materials leading the charge.Japanese equities rebounded, with the Topix climbing by the most in one year one day after the BOJ intervened to buy ETFs for the first time since April.Investors largely expect Asia’s stock market to remain resilient despite the prospects of a gradual tapering of global liquidity and a resurgent dollar. Supporting the region’s equities are attractive valuations, falling Covid-19 cases and relatively low levels of bond yields. The stock benchmark remains more than 6% below a record high it reached in February. “We expect Asia to broadly remain on a healthy recovery path” supported by a broad-based growth in exports and industrial output, Alex Wolf, head of investment strategy for Asia at JPMorgan Private Bank, wrote in a note. “We think three factors will be key to watch over the rest of 2021: vaccination progress, exports -- particularly semiconductors, and China’s recovery.”\nToday, all eyes will be on Fed Chair Powell, who’s testifying at 2pm ET before the House of Representatives’ Select Subcommittee on the coronavirus crisis,where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.”He also said inflation has “increased notably in recent months” but regarded the recent jump as likely to fade.  Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.\n“Powell will repeat that inflation is transitory and will drop back ‘as these transitory supply effects abate’,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “How much time do we have before the supply effects abate is a big question.”\n“There’s probably going to be some back and forth here,” said Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy.“There is a lot of cash on the sidelines right now. Some of that is going to be earmarked to go into the markets, and we think the best place right now to be investing is in the equity markets.”\nIn rates, 10-year Treasuries steadied, trading at 1.49% last. Yields were richer across the curve, with 5s30s flatter by ~1bp; 10-year around 1.48% outperforms bunds and gilts slightly Regional demand emerged during Asia session, renewing the bull-flattening trend that stalled on Monday. Treasury auctions include $60b 2-year note, followed by 5- and 7-year on Wednesday and Thursday. The WI 2-year yield at ~0.257% is higher than auction stops since March 2020 and 10.5bp cheaper than last month’s, which stopped through by 0.7bp\nIn currency markets, the dollar spot Index rose as the greenback traded higher versus all of its Group-of-10 peers and the 10-year Treasury yield hovered around 1.49% The pound fell for a fifth day in six sessions on broad dollar strength and as investors awaited signals on the Bank of England’s inflation outlook on Thursday. Norway’s krone fell to a session low as Brent oil retreated after earlier rising to $75 a barrel for the first time in more than two years. Australia’s currency led losses with iron ore extending Monday’s slump. The yen fell to trade around 110.50; bonds also declined and a five-year auction was weaker than expected.\n\"The whole world was mega short the U.S. dollar, and that's in good part has probably been cleaned out already, and now we take a wee breath before the next move up,\" said Westpac currency analyst Imre Speizer.\nIn commodities, WTI was flat at $73.7 per barrel and Brent crude retreated after earlier topping $75/bbl for the first time in more than two years after rising on Monday in reaction the a pause in talks to end U.S. sanctions on Iranian crude. Oil market sentiment was helped by hopes for a quick recovery in oil demand in the United States and Europe. OPEC+ said it was discussing whether to further boost production as the oil market looks increasingly tight. Spot gold added 0.3% to $1,787.61 an ounce.\nBitcoin sank closer to $30,000 after China intensified its cryptocurrency clampdown.\nLooking at theday aheadnow, the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.\nMarket Snapshot\n\nS&P 500 futures down 0.1% to 4,207.75\nSTOXX Europe 600 down -0.3% to 453.94\nMXAP up 0.9% to 206.17\nMXAPJ little changed at 687.97\nNikkei up 3.1% to 28,884.13\nTopix up 3.2% to 1,959.53\nHang Seng Index down 0.6% to 28,309.76\nShanghai Composite up 0.8% to 3,557.41\nSensex up 0.3% to 52,715.63\nAustralia S&P/ASX 200 up 1.5% to 7,342.20\nKospi up 0.7% to 3,263.88\nBrent Futures down 0.4% to $74.63/bbl\nGerman 10Y yield rose 2.2 bps to -0.149%\nEuro down 0.2% to $1.1899\nGold spot down 0.3% to $1,777.25\nU.S. Dollar Index up 0.14% to 92.03\n\nTop Overnight News from Bloomberg\n\nLeveraged funds boosted net dollar shorts by 21,347 contracts in the week ended June 15, the most since mid-January, according to data from the Commodity Futures Trading Commission.\nGermany increased the amount of planned bond sales in the third quarter by 2 billion euros ($2.4 billion) to help cover financing for the ruling coalition’s generous aid programs to offset the impact of the coronavirus pandemic\nChina’s intensifying cryptocurrency crackdown has left Bitcoin flirting with $30,000, a price level seen as key to the short-term outlook for the largest virtual currency\nRussia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter\nMario Draghi has cemented his position in Italy and his political partners are beginning to assume he’ll remain in power until his term ends in 2023. That is the assessment of half a dozen senior officials from all the main parties and inside the government\nHungary is set to become the first European Union nation to tighten monetary policy this year, with the central bank widely expected to raise borrowing costs on Tuesday in an attempt to curb surging inflation\nA raft of disappointing economic data from China last week, especially the sluggish recovery in consumption, has prompted economists to cut their estimates for China’s output in 2021.\n\nQuick look at global markets courtesy of Newsquawk\nAsia-Pac equities staged a rebound from the prior day's sell-off as the region reacted to the rally seen on Wall Street, whereby the DJIA outperformed whilst the Nasdaq’s upside was hindered by the recovery in yields.Overnight, US equity futures traded flat and near the prior session’s best levels ahead of Fed Chair Powell’s testimony – but before that, 2022-voter Mester is poised to make remarks on monetary policy ahead of commentary from 2021-voter Daly. Over in APAC markets, the ASX 200 (+1.5%) was supported by its Telecoms and Financials sectors whilst the Nikkei 225 (+3.1%) trimmed some of the prior session’s hefty losses as reports of BoJ ETF purchases providing Tokyo with some tailwinds. The KOSPI (+0.7%) saw cautious gains as Yonhap reported that South Korea and the US are mulling ending the working group on North Korean policy, whilst North Korea tempered down expectations of dialogue with the US. Hang Seng (-0.6%) and Shanghai Comp (+0.8%) varied with the former pressured after the US reiterated its concern over Hong Kong’s autonomy, whilst the latter remained within recent ranges. As a side note, crypto markets also saw a rebound following yesterday's bloodbath, albeit Bitcoin and Ethereum remained under 35k and 2k respectively. Finally, JGBs trade narrowly softer in tandem with UST and Bund futures waning off best levels.\nTop Asian News\n\nJimmy Lai’s 26-Year-Old Tabloid All But Dead After Defying China; Carrie Lam Defends Apple Daily Arrests, Warns Media Outlets\nGIC Said to Near Deal to Buy Stake in Malaysia’s Sunway Hospital\nChina Tourism May File for Hong Kong Listing This Week: IFR\nKorea Curve Steepens, China Repo Rises, Rupiah Bonds Halt Drop\n\nAhead of the cash open, European index futures indicated a marginally firmer star to the session. However, as cash markets opened, sentiment dwindled and stocks were pushed into the red (Eurostoxx 50 -0.3%) with no real obvious catalyst behind the move. US index futures ebbed lower at the same time with some minor initial underperformance in the tech-heavy e-mini Nasdaq, albeit moves have been confined to recent ranges as markets await further impetus ahead of a particularly busy week of Fed speak. Since then, we have seen a modest pick-up in the futures taking them nearer to the unchanged mark on the session, but still retaining a negative bias overall. On which, Fed Chair Powell is due to testify to Congress today at 1900BST/1400ET. Pre-released text was a reiteration of recent remarks, however, the Q&A segment could offer some opportunity for the Chair to be pushed on the FOMC’s exit strategy and recent hawkish speakers e.g. Bullard; other Fed speakers today include 2022-voter Mester and 2021-voter Daly. In Europe, sectors are somewhat mixed with Oil & Gas top of the pile amid the recent advances in the crude complex even in-light of today’s pressure on a potential ramping up of OPEC+ production (see commodities), whilst Tech and Health care lag peers with the former hampered by the mini-revival seen in yields since the start of the week which saw the US 10yr initially slip below 1.4%. Kepler Cheuvreux downgraded the European banking sector to neutral from overweight with analysts at the firm concerned that the reflation trade is not a foregone conclusion in a context where the steepening of the USD yield curve appears to have exhausted itself. In terms of stock specifics, BT (+0.6%) are slightly firmer on the session amid reports that Rupert Murdoch's News UK is reportedly looking into a tie-up with BT Sport. Finally, Travel & Leisure names including Ryanair (+1.1%) and IAG (+1.0%) have been provided some support amid suggestions that UK ministers are to relax travel restrictions from August for those who have been fully vaccinated.\nTop European News\n\nU.K. Begins Negotiations to Join Trans-Pacific Trading Bloc\nGermany Boosts Third-Quarter Bond Issuance by 2 Billion Euros\nAston Martin Sues Dealer Over Deposits for $3.5 Million Valkyrie\nTech Stocks Tumble as Prosus Falls, Pandemic Winners Decline\n\nIn FX,there was some calm after Monday’s relatively lively session amidst pronounced risk-off APAC trade before a steady recovery in sentiment that prompted a retreat in safe-havens on little fresh news or data. Nevertheless, the DXY formed a base below 92.000 and is currently consolidating around its new pivot within a 91.890-92.139 range inside yesterday’s 91.826-92.375 range awaiting further direction that could come from today’s trio of Fed speakers or macro releases in the form of existing home sales and Richmond Fed composite readings. Note, however, the text of chair Powell’s testimony to Congress has already been published so anything new will likely come from the Q&A section.\n\nAUD/GBP - It may be too early to label the day a turnaround Tuesday for the Aussie and Pound, but both have unwound a chunk of their gains vs the Buck after benefiting from its frailty yesterday, and Aud/Usd is also bearing the brunt of another slump in iron ore prices as it struggles to stay within touching distance of the 0.7500 handle. Note also, prelim payrolls and earnings data came in weaker than prior prints overnight ahead of flash PMIs tonight. Meanwhile, Sterling has relinquished 1.3900+ status, and perhaps partly due to a loss of technical momentum given that Cable topped out just pips shy of the 100 DMA (1.3941 vs 1.3937 high), while the Eur/Gbp cross held around 0.8550 before bouncing.\nCAD/CHF/NZD/EUR/JPY - A pull-back in WTI towards Usd 73/brl in wake of reports that Russia may push for higher OPEC+ crude output at next week’s summit, has undermined the Loonie ahead of Canadian retail sales on Wednesday, with Usd/Cad back up in the high 1.2300 area, while the Franc is beneath 0.9200 following fairly upbeat economic forecasts from Switzerland’s KOF. Elsewhere, the Kiwi is holding between 0.6995-63 parameters following a marked pick-up in NZ credit card spending and as Aud/Nzd eyes 1.0750 to the downside having been capped circa 1.0800, the Euro is straddling 1.1900 and Yen has retreated through 110.50 against the backdrop of higher US Treasury yields and curve re-steepening.\n\nIn commodities,WTI and Brent have seen downside, -0.5% and -0.4% respectively, after what was a relatively uneventful APAC session for the benchmarks. The pressure came just after the European cash equity open, which was softer than futures had implied, amid reports that Russia is considering proposing an increase in OPEC+ oil production at the July 1st gathering, according to officials. As Russia expects the global supply shortfall to persist over the medium-term horizon; note, Russian VP Novak is set to meet with various domestic oil companies today. This report sparked pressure in the benchmarks sending WTI and Brent August’21 futures below USD 73.00/bbl and USD 75.00/bbl respectively – a smaller bout of further pressure was seen on subsequent source reports that it is possible to increase supply gradually from August. Such an alteration would be in-fitting with the most recent IEA MOMR which wrote that “OPEC+ needs to open the taps to keep world oil markets adequately supplied; production hikes at current pace set to be nowhere near the levels needed to prevent further stock draws”. As a reminder, the current OPEC+ quotas which were set in April envisage 700k BPD and 850k BPD of oil re-entering the market in June and July respectively. Moving to metals, spot gold and silver are modestly softer on the session given upside in both the USD and yields this morning; however, the magnitude of ranges for the precious metals are contained when compared with action seen over the last week. On gold, JP Morgan retains its long-term bearish view on the metal in-light of last week’s FOMC updates and look for copper prices to ease into H2 as supply/demand imbalances resolve, taking the view that the metal peaked in Q2.\nUS Event Calendar\n\n10:30am: Fed’s Mester Discusses Monetary Policy and Financial...\n11am: Fed’s Daly Speaks at Peterson Institute Event\n2pm: Powell Testifies to Congress on Covid-19 Response and Economy\n\nDB's Jim Reid concludes the overgnight wrap\nWhen we went to press yesterday morning I was left very confused as to why US 10 year yields had sunk even further overnight to around 1.36% from 1.44% at the Asian open. It felt like it might be the longest day of the year in markets as well as in daylight terms. Well 4 hours later they had moved back to 1.44% and then 1.49% after another 6 hours early in the US session - roughly where they closed and where they are trading now in Asia. To be fair the real action continues to be in the 30 year part of the curve which opened in Asia yesterday at 2.01%, rallied to 1.925% but then reversed course all day and flirted with 2.10% as Europe went home before closing at 2.11% (2.12% in Asia). There was no real new news so the earlier price action perhaps indicates that there might have been some positioning/liquidation issues out there yesterday to explain such swings. This is part of the reason I wouldn’t try to over analyse the macro implications of these moves at the moment. There seems to be a lot of technical things going on at the moment including the Treasury running down their cash holdings at the Fed. As such I think it’s far too early to suggest that the price action reflects a view that the Fed made a policy error last Wednesday.\nEquity markets seemed to like a return of more normal yields as they have been a bit shaken by the bond reaction post the FOMC. In fact by the close of yesterday’s session, the S&P 500 had rebounded +1.40% to put the index back within 1% of its all-time closing high last week. So quite the reversal from its worst weekly performance since February. Even the dollar (which saw its best performance since September last week) changed gears to close -0.35% lower on the day.\nIn the absence of other events on the calendar, Fed speakers were in focus yesterday with St Louis President Bullard (non-voter, dove) and Dallas President Kaplan (non-voter, hawk) kicking off proceedings. Notably, Bullard said that the Fed ought to set up its taper so it could be adjusted if necessary, which raises the prospect that the pace could change depending on the strength of the economic recovery and inflation outcomes. And he himself alluded to the uncertainty in the outlook, saying that “No one really knows how this is all going to unfold. We have to be ready for the idea that there is upside risk to inflation and for it to go higher”. Separately, Kaplan said that he was in favour of beginning the tapering process sooner rather than later. However the timeline is still uncertain, as later in the session New York Fed President Williams said that he still sees tapering as “quite a ways off.” Williams also expects inflation to return to 2% next year and that the long-term trends that have depressed inflation in recent years will be the overriding force once again. After a year of coordinated messaging, it seems like there is more dispersion of views coming out of the committee now. I think this is more healthy.\nToday, all eyes will be on Fed Chair Powell, who’s testifying at 7pm London time before the House of Representatives’ Select Subcommittee on the coronavirus crisis, where he’s set to talk about the Federal Reserve’s response to the pandemic. In prepared remarks distributed late last night, Powell remains optimistic on the recovery, saying “job gains should pick up in coming months as vaccinations rise, easing some of the pandemic-related factors currently weighing them down.” Chair Powell acknowledged that “inflation has increased notably in recent months… As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.” The transitory nature of inflation is sure to be a key point of questions from some Representatives today.\nRunning through the market moves yesterday, US equities saw an incredibly broad-based advance, with 482 companies moving higher in the S&P on the day, which remarkably represents the highest number of gainers in over a year. The S&P gains were led by the cyclical/reopening trade as yields rebounded while tech stocks lagged somewhat, with the NASDAQ seeing a smaller +0.79% advance, though that still left the index within 0.5% of its own all-time high. Small-cap stocks saw even larger gains, as the Russell 2000 was up +2.16%. Over in Europe, equity markets saw their own slightly more subdued rebound with the STOXX 600 ending the day up +0.70%.\nFor sovereign bond markets it was an eventful day as discussed at the top, with yields moving noticeably lower prior to the open in Europe before ending the day higher. Furthermore, we saw curves begin to steepen again following the major flattening last week, with the US 2s10s curve up +4.8bps, and the 5s30s up +8.6bps. Europe saw much the same story once the global sell-off begun, with yields on bunds (+2.9bps), OATs (+0.5bps) and BTPs (+0.4bps) all moving higher.\nOvernight in Asia, markets are following Wall Street’s lead with the Nikkei (+2.95%), Shanghai Comp (+0.78%) and Kospi (+0.77%) all making gains. The Hang Seng (-0.01%) is trading broadly flat. Outside of Asia, futures on the S&P 500 are up +0.18% and those on the Stoxx 50 are up +0.35%.\nElsewhere, both Brent Crude (+1.89%) and WTI (+2.82%) oil prices climbed to fresh 2-year highs of $74.90/bbl and $73.66/bbl respectively. Indeed that rise for WTI yesterday now means it’s risen by more than +50% on a YTD basis, making it the first major asset in our performance review basket to reach that milestone this year. Overnight, Brent oil prices have crossed $75 mark for the first time since April 2019. Other commodities also performed decently yesterday, including copper (+0.65%), gold (+1.08%), silver (+0.64%) and corn (+0.61%), with all 4 recovering ground following last week’s losses. Speaking of commodities, I looked at the change in various prices over the last 2 years in my chart of the day yesterday (link here), pointing out that in spite of the declines from their recent peaks this year, they still remain well above their levels 2 years ago. So some perspective is needed to the recent falls.\nIn terms of new-age commodities, the selloff in crypto-assets took another leg lower yesterday following news that China called a meeting of leaders of its largest banks to reiterate a ban on cryptocurrency services. Bitcoin fell -9.05% to $32,582, its lowest level since late-January. Ethereum (-14.0%), Litecoin (-14.0%) and XRP (-12.6%) all followed suit.\nIn terms of the latest on the pandemic, UK Prime Minister Johnson said that for England, “I think it’s looking good for July 19 to be that terminus point” when the easing of restrictions could take place. Nevertheless, a further 10,633 cases were reported in the UK yesterday, which took the weekly average to its highest since late-February, at 9,778. The rate of increase has slowed though. In Germany, Health Minister Spahn warned the delta variant may cause a 4th wave of infections, saying the government would remain cautious when the calendar turns over to Autumn and Winter. Elsewhere, it was announced that spectators at the Tokyo Olympics would be limited to either 10,000 or 50% capacity. Lastly, the White house announced that 150mn Americans, or over 45% of the overall population, are now fully vaccinated and 15 states along with Washington DC have now reached 70% of adults with at least one shot. However there has been a greater than 30% increase in Covid-19 hospitalisations in Missouri, Arkansas and Utah – all states with well below average vaccination rates – over the last week with the increase driven by 18-29 year olds, according to U.S. Department of Health & Human Services data. The absolute numbers remain low and healthcare capacity is not a concern at this time, however local authorities are paying attention and cited low testing numbers as an additional concern.\nFinally, there wasn’t a great deal of data yesterday, though the Chicago Fed’s national activity index came in at 0.29 in May (vs. 0.70 expected), up from -0.09 in April.\nTo the day ahead now, and the main highlight will be the aforementioned testimony from Fed Chair Powell to Congress. Otherwise, we’ll also hear from the Fed’s Mester and Daly, as well as the ECB’s Rehn, Lane and Schnabel. Data releases from the US include May’s existing home sales and the Richmond Fed’s manufacturing index for June, while in the Euro Area there’s the advance consumer confidence reading for June.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167228252,"gmtCreate":1624272263376,"gmtModify":1703832084412,"author":{"id":"3556268208604375","authorId":"3556268208604375","name":"Dawnypantss","avatar":"https://static.tigerbbs.com/74d077756546f471eeaf5597580ef9b4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556268208604375","authorIdStr":"3556268208604375"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167228252","repostId":"1147979715","repostType":4,"repost":{"id":"1147979715","kind":"news","pubTimestamp":1624270382,"share":"https://ttm.financial/m/news/1147979715?lang=&edition=fundamental","pubTime":"2021-06-21 18:13","market":"fut","language":"en","title":"Bitcoin Falls to Two-Week Low as China Cracks Down on Crypto","url":"https://stock-news.laohu8.com/highlight/detail?id=1147979715","media":"Bloomberg","summary":"Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypt","content":"<ul>\n <li>Bitcoin trades near $33,000 amid worries over market froth</li>\n <li>China’s harder regulatory stance on crypto is rattling traders</li>\n</ul>\n<p>Bitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown in China.</p>\n<p>The largest virtual currency fell 8% to $33,070 as of 11:12 a.m. in London. Ether declined 12% to $1,993.</p>\n<p>China has ordered payment platform Alipay and domestic banks to not to provide services linked to trading of virtual currencies. The institutions were also ordered to cut off payment channels for crypto exchanges and over-the-counter platforms, the People’s Bank of China said in a statement.</p>\n<p>It’s more evidence of China’s tougher stance on crypto that’s stretching from financial regulation to the energy demands of Bitcoin mining.</p>\n<p>“The PBOC crackdown is going further than initially expected,” said Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX. “Mining was phase one and speculation is phase two.”</p>\n<p><img src=\"https://static.tigerbbs.com/31559c8718fe04732604f944b234261f\" tg-width=\"1200\" tg-height=\"675\"></p>\n<p>Separately, a Chinese city with abundant hydropower has stepped up action to rein in mining. A Ya’an government official told at least one Bitcoin miner that the city has promised to root out all Bitcoin and Ether mining operations with a year, said a person with knowledge of the situation.</p>\n<p>In the backdrop, the appetite for risk assets has diminished after last week’s hawkish policy pivot by the Federal Reserve. Even though equity markets tipped into the green on Monday, analysts pointed to lingering jitters about frothy corners of the market.</p>\n<p>“If, as I expect, the global buy-everything unwind continues this week, Bitcoin willfeelthose chill winds,” said Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte.</p>\n<p>Some commentators have said China’s hashrate -- the computational power used to mine coins and process blockchain transactions -- is waning amid harsher regulatory oversight.</p>\n<p>The crypto faithful are also grappling with a tumble in tokens used in so-called&nbsp;decentralized-finance-- or DeFi -- applications. DeFi apps let people lend, borrow, trade and take out insurance directly from each other using blockchain technology, without use of intermediaries such as banks.</p>\n<p>For instance, the DeFi Titanium token went from being valued at around $60 to $0 -- a rare occurrence even for famously volatile crypto markets. Famed mogul Mark Cuban had invested, telling Bloomberg News earlier that though it represented a small percentage of his crypto portfolio, the wipe-out “was enough that I wasn’t happy about it.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Falls to Two-Week Low as China Cracks Down on Crypto</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Falls to Two-Week Low as China Cracks Down on Crypto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 18:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypto is rattling traders\n\nBitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-21/bitcoin-pressured-by-post-fed-dip-in-sentiment-china-crackdown?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147979715","content_text":"Bitcoin trades near $33,000 amid worries over market froth\nChina’s harder regulatory stance on crypto is rattling traders\n\nBitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown in China.\nThe largest virtual currency fell 8% to $33,070 as of 11:12 a.m. in London. Ether declined 12% to $1,993.\nChina has ordered payment platform Alipay and domestic banks to not to provide services linked to trading of virtual currencies. The institutions were also ordered to cut off payment channels for crypto exchanges and over-the-counter platforms, the People’s Bank of China said in a statement.\nIt’s more evidence of China’s tougher stance on crypto that’s stretching from financial regulation to the energy demands of Bitcoin mining.\n“The PBOC crackdown is going further than initially expected,” said Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX. “Mining was phase one and speculation is phase two.”\n\nSeparately, a Chinese city with abundant hydropower has stepped up action to rein in mining. A Ya’an government official told at least one Bitcoin miner that the city has promised to root out all Bitcoin and Ether mining operations with a year, said a person with knowledge of the situation.\nIn the backdrop, the appetite for risk assets has diminished after last week’s hawkish policy pivot by the Federal Reserve. Even though equity markets tipped into the green on Monday, analysts pointed to lingering jitters about frothy corners of the market.\n“If, as I expect, the global buy-everything unwind continues this week, Bitcoin willfeelthose chill winds,” said Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte.\nSome commentators have said China’s hashrate -- the computational power used to mine coins and process blockchain transactions -- is waning amid harsher regulatory oversight.\nThe crypto faithful are also grappling with a tumble in tokens used in so-called decentralized-finance-- or DeFi -- applications. DeFi apps let people lend, borrow, trade and take out insurance directly from each other using blockchain technology, without use of intermediaries such as banks.\nFor instance, the DeFi Titanium token went from being valued at around $60 to $0 -- a rare occurrence even for famously volatile crypto markets. Famed mogul Mark Cuban had invested, telling Bloomberg News earlier that though it represented a small percentage of his crypto portfolio, the wipe-out “was enough that I wasn’t happy about it.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}