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2021-08-29

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This Unloved Tech Stock Could Make You Rich One Day

2021-09-09

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Bitcoin Endured a Rocky Day. What's Behind the Selloff

2021-09-09

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Bitcoin Endured a Rocky Day. What's Behind the Selloff

2021-08-28

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2021-09-01

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Wall Street's subdued finish fails to detract from strong August

2021-08-30

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2021-09-16

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Last night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard

2021-09-06

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The Beijing Stock Exchange is here! Whose "big meat", whose "soup"?

2025-01-02

Wow bitcoin pullback

2025-01-02

Wow bitcoin pullback

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bitcoin pullback","listText":"Wow bitcoin pullback","text":"Wow bitcoin pullback","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387917034668400","isVote":1,"tweetType":1,"viewCount":2241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387962306531736,"gmtCreate":1735747805404,"gmtModify":1735781328446,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Wow bitcoin pullback","listText":"Wow bitcoin pullback","text":"Wow bitcoin pullback","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387962306531736","isVote":1,"tweetType":1,"viewCount":2666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373463584166000,"gmtCreate":1732213548959,"gmtModify":1732213552742,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373463584166000","repostId":"373410473771048","repostType":1,"repost":{"id":373410473771048,"gmtCreate":1732200479230,"gmtModify":1732200777322,"author":{"id":"3570103090255456","authorId":"3570103090255456","name":"JC888","avatar":"https://community-static.tradeup.com/news/1f15eae4f682dc4cb91bfca455452752","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570103090255456","authorIdStr":"3570103090255456"},"themes":[],"title":"Will PLTR & META Tie-Up Sparks Rally ?","htmlText":"It was just last week, that I shared a post on Palantir’s strategic move to migrate from the S&amp;P 500 index to Nasdaq. (click <a href=\"https://ttm.financial/post/371765277028568\" target=\"_blank\">here !</a><a href=\"https://ttm.financial/post/371765277028568\" target=\"_blank\"> </a>to read and repost to share) And the potential of its value (and stock price) rising further if it is selected to join the <a href=\"https://ttm.financial/S/NDX\">$NASDAQ 100(NDX)$</a> index. Even before this piece of good news has thoroughly filtered through, I am sharing another piece of celebratory (hopefully) news. With the unveil of ChatGPT in November 2022, artificial intelligence has taken the world by storm. Software companies are touting how AI-powered services can yield higher productivity levels in the w","listText":"It was just last week, that I shared a post on Palantir’s strategic move to migrate from the S&amp;P 500 index to Nasdaq. (click <a href=\"https://ttm.financial/post/371765277028568\" target=\"_blank\">here !</a><a href=\"https://ttm.financial/post/371765277028568\" target=\"_blank\"> </a>to read and repost to share) And the potential of its value (and stock price) rising further if it is selected to join the <a href=\"https://ttm.financial/S/NDX\">$NASDAQ 100(NDX)$</a> index. Even before this piece of good news has thoroughly filtered through, I am sharing another piece of celebratory (hopefully) news. With the unveil of ChatGPT in November 2022, artificial intelligence has taken the world by storm. Software companies are touting how AI-powered services can yield higher productivity levels in the w","text":"It was just last week, that I shared a post on Palantir’s strategic move to migrate from the S&P 500 index to Nasdaq. (click here ! to read and repost to share) And the potential of its value (and stock price) rising further if it is selected to join the $NASDAQ 100(NDX)$ index. Even before this piece of good news has thoroughly filtered through, I am sharing another piece of celebratory (hopefully) news. With the unveil of ChatGPT in November 2022, artificial intelligence has taken the world by storm. Software companies are touting how AI-powered services can yield higher productivity levels in the w","images":[{"img":"https://community-static.tradeup.com/news/eff4c1d87c17b8582e3f60e690f0b248","width":"600","height":"140"},{"img":"https://community-static.tradeup.com/news/2a9b73d8c285fa3787fd08c0e700b9a9","width":"833","height":"159"},{"img":"https://community-static.tradeup.com/news/7fff12bc6154f937d7fac75cf8c271f8","width":"713","height":"167"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373410473771048","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":9,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2754,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885335012,"gmtCreate":1631755999636,"gmtModify":1676530626647,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/885335012","repostId":"1138329020","repostType":2,"repost":{"id":"1138329020","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631749342,"share":"https://ttm.financial/m/news/1138329020?lang=en_US&edition=fundamental","pubTime":"2021-09-16 07:42","market":"hk","language":"zh","title":"Last night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard","url":"https://stock-news.laohu8.com/highlight/detail?id=1138329020","media":"老虎资讯综合","summary":"摘要：美三大指数集体收涨，油气股涨幅居前；美国WTI原油收高3.1%，天然气再创7年半新高；美国众议院筹款委员会投票推进税改计划；微软宣布600亿美元股票回购计划；生物制药公司Dice Therape","content":"<p>Abstract: The three major indices in the United States closed up collectively, with oil and gas stocks among the top gainers; U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 1/2-year high; U.S. House Ways and Means Committee votes to advance tax reform plan; Microsoft Announces $60 Billion Stock Buyback Program; Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing. Overseas markets</p><p><b>1. The three major U.S. indices collectively closed higher, with oil and gas stocks among the top gainers</b></p><p>U.S. stocks closed higher on Wednesday, with major indexes rebounding after back-to-back losses. U.S. manufacturing output grew 0.2% in August less than expected. The market is still weighing the U.S. August CPI data and is worried that the Delta xenovirus strain will affect the global economic recovery. By the close, the Dow was up 0.68%, the S&P 500 was up 0.85% and the Nasdaq was up 0.82%.</p><p>Oil and gas stocks were among the top gainers,<a href=\"https://laohu8.com/S/MUR\">Murphy Oil</a>、<a href=\"https://laohu8.com/S/CPE\">Caron Petroleum</a>It rose by more than 8%, and Devin Energy rose by more than 7%.</p><p><b>2. Most popular Chinese stocks closed down on Wednesday, and education stocks generally fell</b></p><p>Most popular Chinese stocks closed down on Wednesday, and education stocks were generally lower.<a href=\"https://laohu8.com/S/NTES\">Netease</a>Youdao fell nearly 9%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>fell by more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Down 4%,<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell by more than 2%.</p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up nearly 1%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>New Oriental,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Over 4%, Fog Core Technology fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BEKE\">Shell</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>、<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars rose nearly 0.4%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell nearly 1%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 0.2%.</p><p><b>3. British inflation rate reached a 9-year high in August, and European stocks fell across the board</b></p><p>Surging inflation in the UK has weighed on the main indexes of European stocks. Major European stock indexes broadly closed lower on Wednesday, with Germany's DAX index falling 0.66% and France's CAC40 index falling 1.04%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.23%, and the Euro Stoxx 50 fell 1.08%.</p><p><b>4. U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 and a half-year high</b></p><p><a href=\"https://laohu8.com/S/USEG\">U.S. Energy</a>The Information Administration reported that the supply of crude oil from the United States decreased by 6.4 million barrels last week, which supported oil prices. Natural gas futures prices hit another 7 1/2-year high. In the end, WTIOctober futures rose $2.15, or about 3.1%, to close at $72.61 a barrel, the highest closing price since July 30. Natural gas futures similarly rose and reached their highest close since February 2014. October natural gas futures on the New York Stock Exchange rose 20 cents, or 3.8%, to close at $5.46 per million British thermal units.</p><p><b>5. Gold futures closed down 0.7% on Wednesday, ending two consecutive gains</b></p><p>Gold futures fell for the first time in three trading days on Wednesday amid uncertainty over the Federal Reserve's tapering of stimulus, almost completely giving up Tuesday's gains. In the end, the price of gold futures for December delivery on the NYSE fell $12.30, or 0.7%, to close at $1,794.80 an ounce.</p><p>International macro</p><p><b>1. U.S. House Ways and Means Committee votes to advance tax reform plan</b></p><p>The U.S. House Ways and Means Committee voted to advance plans to raise taxes on wealthy Americans and corporations as part of a Democratic \"budget reconciliation\" spending bill.</p><p><b>2. The European Central Bank warns investors not to focus on the size of bond purchases</b></p><p>Days after ECB officials decided to slow the pace of asset purchases in the fourth quarter, Philip Lane, the bank's chief economist, said investors should not focus solely on the size of asset purchases when assessing ECB monetary policy.</p><p><b>3. U.S. crude oil inventories continued to decline due to the hurricane, reaching the lowest level since September 2019</b></p><p>U.S. crude oil inventories fell to their lowest level since September 2019, in part as Gulf Coast supplies dwindled to pre-COVID lows. Undoubtedly, this was mainly caused by Hurricane Ida. Nearly three weeks after the passing of the hurricane, affected producers are still recovering, with Gulf Coast production recovering only 60%.</p><p><b>4. For the first time since 1950! Britain may fall out of Germany's top 10 trading partners</b></p><p>In 2021, the UK is likely to fall out of Germany's top 10 trading partners for the first time since 1950, according to the latest figures published by the Federal Statistical Office. Trade between the two countries fell 2.3 percent to 48.3bn euros in the first half of this year, sending Britain down to the 11th most important trading partner of Germany. Among them, German import trade from the UK fell by 11 percent to just 16 billion euros. Specifically, the food industry declined by 38.5%, textiles by 53%, and pharmaceutical products by 47%.</p><p><b>5. Dalio, founder of Bridgewater Fund: \"Cash is still garbage\" The most important thing for investors is investment diversification</b></p><p>Cash is still garbage, says Dalio. The advantage that the stock market currently enjoys will gradually diminish. The most important thing for investors is to diversify between currencies, asset classes and countries, not just within the stock market. Dalio has some investment in Bitcoin, saying that \"the percentage ratio is small\" compared to his investment in gold, and that his investment in gold is \"the percentage ratio is relatively small\" compared to other asset classes. Dalio currently holds some Bitcoin and said it could consider using cryptocurrency as one of the alternatives to cash and some financial assets.</p><p><b>6. British Prime Minister Johnson reshuffles his cabinet</b></p><p>Former International Trade Secretary Elizabeth Truss has been appointed Foreign Secretary. Former foreign secretary Dominic Raab was transferred to deputy prime minister, chancellor and justice secretary, in what the British media called a \"demotion\". Anne-Marie Trevelyan, former Secretary of State for Business, took over as Secretary of State for International Trade. Three other ministers were dismissed.</p><p><b>7. Bank of Japan Governor Haruhiko Kuroda: Monetary policy will be further loosened if necessary</b></p><p>Bank of Japan Governor Haruhiko Kuroda said the Bank of Japan would further ease monetary policy, such as lowering interest rates, if necessary. The Bank of Japan is committed to achieving its 2% inflation target as early as possible through as flexible and loose monetary policy as possible.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167923405\" target=\"_blank\"><b>Microsoft also made this important personnel appointment as it announced a $60 billion share buyback program</b></a></p><p>Microsoft has made a big announcement — the approval of a share buyback program of up to $60 billion. Microsoft said the buybacks have no deadline and could be terminated at any time, and the new Dividend of $0.62 per share increased by 6 cents from the previous quarter's Dividend. Microsoft's last buyback program was in September 2019, when it was $40 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167903285\" target=\"_blank\"><b>Pfizer \"forced the palace\" FDA to release the third shot Israeli data shows that the protection rate can be restored to 95%</b></a></p><p>According to a 52-page report submitted by Pfizer to the U.S. Food and Drug Administration (FDA), clinical data in Israel showed that the third dose of Pfizer's vaccine restored infection protection to 95% six months after the second dose. At present, the FDA is not only facing pressure from Pfizer in reviewing booster shots. White House chief medical adviser Fauci has said that the FDA may approve the Pfizer COVID-19 vaccine booster shot by September 20th.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167599064\" target=\"_blank\"><b>American version of \"Hungry\" DoorDash takes New York City to court: does not want to share user data with restaurants</b></a></p><p>US takeaway delivery company DoorDash today reportedly filed a lawsuit against New York City over a new law requiring courier companies to share more customer data with restaurants.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167543599\" target=\"_blank\"><b>Reddit's advertising ambitions are beginning to pay off: revenue has doubled to at least $350 million this year</b></a></p><p>Shares of companies like GameStop and AMC reportedly soared earlier this year thanks in large part to a boost from Reddit, a 16-year-old online news aggregator and discussion community. This reflects the audience size of Reddit, which reached 430 million monthly users worldwide, close to the 454 million monthly users of picture social network Pinterest, according to the latest document.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167592152\" target=\"_blank\"><b>ETF Issuer Ranking Ark Falls Out of Top 10! Female Stock God: Economic Recovery Is Not As Expected</b></a></p><p>On Wednesday (Sept. 15), \"female stock goddess\" Cathy Wood's Ark Investment is slipping among U.S. ETF issuers, and Ark now has about $42.4 billion in ETFs, ranking 11th. Ark entered the top 10 earlier this year due to massive inflows of investors, but just as Ark's $21 billion flagship<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>(ticker ARKK) shines, so does competition. With Ark's assets down slightly, rival WisdomTree is already ahead, meanwhile industry newcomer Dimensional Fund Advisors follows Ark, with a gap of less than $3 billion between the two issuers.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167921590\" target=\"_blank\"><b>Coinbase is planning a foray into crypto derivatives</b></a></p><p>Coinbase, the nation's largest cryptocurrency exchange, on Wednesday submitted an application to the National Futures Association to register as a Futures Commission merchant. Cryptocurrency futures and options have long been a glaring shortfall in Coinbase's portfolio, at the same time that Bitcoin derivatives have grown into a huge market. Earlier this year, Coinbase also acquired Skew, an analytics firm known for tracking the derivatives market.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167630594\" target=\"_blank\"><b>Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing</b></a></p><p>Dice Therapeutics' U.S. IPO surged 117% to $36.89 on its first day. The IPO offering price was previously given at $17 per share.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Securities, SVB Leerink and Evercore ISI are the underwriters for the listing.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-16 07:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: The three major indices in the United States closed up collectively, with oil and gas stocks among the top gainers; U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 1/2-year high; U.S. House Ways and Means Committee votes to advance tax reform plan; Microsoft Announces $60 Billion Stock Buyback Program; Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing. Overseas markets</p><p><b>1. The three major U.S. indices collectively closed higher, with oil and gas stocks among the top gainers</b></p><p>U.S. stocks closed higher on Wednesday, with major indexes rebounding after back-to-back losses. U.S. manufacturing output grew 0.2% in August less than expected. The market is still weighing the U.S. August CPI data and is worried that the Delta xenovirus strain will affect the global economic recovery. By the close, the Dow was up 0.68%, the S&P 500 was up 0.85% and the Nasdaq was up 0.82%.</p><p>Oil and gas stocks were among the top gainers,<a href=\"https://laohu8.com/S/MUR\">Murphy Oil</a>、<a href=\"https://laohu8.com/S/CPE\">Caron Petroleum</a>It rose by more than 8%, and Devin Energy rose by more than 7%.</p><p><b>2. Most popular Chinese stocks closed down on Wednesday, and education stocks generally fell</b></p><p>Most popular Chinese stocks closed down on Wednesday, and education stocks were generally lower.<a href=\"https://laohu8.com/S/NTES\">Netease</a>Youdao fell nearly 9%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>fell by more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Down 4%,<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell by more than 2%.</p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up nearly 1%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>New Oriental,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Over 4%, Fog Core Technology fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BEKE\">Shell</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>、<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars rose nearly 0.4%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell nearly 1%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 0.2%.</p><p><b>3. British inflation rate reached a 9-year high in August, and European stocks fell across the board</b></p><p>Surging inflation in the UK has weighed on the main indexes of European stocks. Major European stock indexes broadly closed lower on Wednesday, with Germany's DAX index falling 0.66% and France's CAC40 index falling 1.04%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.23%, and the Euro Stoxx 50 fell 1.08%.</p><p><b>4. U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 and a half-year high</b></p><p><a href=\"https://laohu8.com/S/USEG\">U.S. Energy</a>The Information Administration reported that the supply of crude oil from the United States decreased by 6.4 million barrels last week, which supported oil prices. Natural gas futures prices hit another 7 1/2-year high. In the end, WTIOctober futures rose $2.15, or about 3.1%, to close at $72.61 a barrel, the highest closing price since July 30. Natural gas futures similarly rose and reached their highest close since February 2014. October natural gas futures on the New York Stock Exchange rose 20 cents, or 3.8%, to close at $5.46 per million British thermal units.</p><p><b>5. Gold futures closed down 0.7% on Wednesday, ending two consecutive gains</b></p><p>Gold futures fell for the first time in three trading days on Wednesday amid uncertainty over the Federal Reserve's tapering of stimulus, almost completely giving up Tuesday's gains. In the end, the price of gold futures for December delivery on the NYSE fell $12.30, or 0.7%, to close at $1,794.80 an ounce.</p><p>International macro</p><p><b>1. U.S. House Ways and Means Committee votes to advance tax reform plan</b></p><p>The U.S. House Ways and Means Committee voted to advance plans to raise taxes on wealthy Americans and corporations as part of a Democratic \"budget reconciliation\" spending bill.</p><p><b>2. The European Central Bank warns investors not to focus on the size of bond purchases</b></p><p>Days after ECB officials decided to slow the pace of asset purchases in the fourth quarter, Philip Lane, the bank's chief economist, said investors should not focus solely on the size of asset purchases when assessing ECB monetary policy.</p><p><b>3. U.S. crude oil inventories continued to decline due to the hurricane, reaching the lowest level since September 2019</b></p><p>U.S. crude oil inventories fell to their lowest level since September 2019, in part as Gulf Coast supplies dwindled to pre-COVID lows. Undoubtedly, this was mainly caused by Hurricane Ida. Nearly three weeks after the passing of the hurricane, affected producers are still recovering, with Gulf Coast production recovering only 60%.</p><p><b>4. For the first time since 1950! Britain may fall out of Germany's top 10 trading partners</b></p><p>In 2021, the UK is likely to fall out of Germany's top 10 trading partners for the first time since 1950, according to the latest figures published by the Federal Statistical Office. Trade between the two countries fell 2.3 percent to 48.3bn euros in the first half of this year, sending Britain down to the 11th most important trading partner of Germany. Among them, German import trade from the UK fell by 11 percent to just 16 billion euros. Specifically, the food industry declined by 38.5%, textiles by 53%, and pharmaceutical products by 47%.</p><p><b>5. Dalio, founder of Bridgewater Fund: \"Cash is still garbage\" The most important thing for investors is investment diversification</b></p><p>Cash is still garbage, says Dalio. The advantage that the stock market currently enjoys will gradually diminish. The most important thing for investors is to diversify between currencies, asset classes and countries, not just within the stock market. Dalio has some investment in Bitcoin, saying that \"the percentage ratio is small\" compared to his investment in gold, and that his investment in gold is \"the percentage ratio is relatively small\" compared to other asset classes. Dalio currently holds some Bitcoin and said it could consider using cryptocurrency as one of the alternatives to cash and some financial assets.</p><p><b>6. British Prime Minister Johnson reshuffles his cabinet</b></p><p>Former International Trade Secretary Elizabeth Truss has been appointed Foreign Secretary. Former foreign secretary Dominic Raab was transferred to deputy prime minister, chancellor and justice secretary, in what the British media called a \"demotion\". Anne-Marie Trevelyan, former Secretary of State for Business, took over as Secretary of State for International Trade. Three other ministers were dismissed.</p><p><b>7. Bank of Japan Governor Haruhiko Kuroda: Monetary policy will be further loosened if necessary</b></p><p>Bank of Japan Governor Haruhiko Kuroda said the Bank of Japan would further ease monetary policy, such as lowering interest rates, if necessary. The Bank of Japan is committed to achieving its 2% inflation target as early as possible through as flexible and loose monetary policy as possible.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167923405\" target=\"_blank\"><b>Microsoft also made this important personnel appointment as it announced a $60 billion share buyback program</b></a></p><p>Microsoft has made a big announcement — the approval of a share buyback program of up to $60 billion. Microsoft said the buybacks have no deadline and could be terminated at any time, and the new Dividend of $0.62 per share increased by 6 cents from the previous quarter's Dividend. Microsoft's last buyback program was in September 2019, when it was $40 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167903285\" target=\"_blank\"><b>Pfizer \"forced the palace\" FDA to release the third shot Israeli data shows that the protection rate can be restored to 95%</b></a></p><p>According to a 52-page report submitted by Pfizer to the U.S. Food and Drug Administration (FDA), clinical data in Israel showed that the third dose of Pfizer's vaccine restored infection protection to 95% six months after the second dose. At present, the FDA is not only facing pressure from Pfizer in reviewing booster shots. White House chief medical adviser Fauci has said that the FDA may approve the Pfizer COVID-19 vaccine booster shot by September 20th.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167599064\" target=\"_blank\"><b>American version of \"Hungry\" DoorDash takes New York City to court: does not want to share user data with restaurants</b></a></p><p>US takeaway delivery company DoorDash today reportedly filed a lawsuit against New York City over a new law requiring courier companies to share more customer data with restaurants.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167543599\" target=\"_blank\"><b>Reddit's advertising ambitions are beginning to pay off: revenue has doubled to at least $350 million this year</b></a></p><p>Shares of companies like GameStop and AMC reportedly soared earlier this year thanks in large part to a boost from Reddit, a 16-year-old online news aggregator and discussion community. This reflects the audience size of Reddit, which reached 430 million monthly users worldwide, close to the 454 million monthly users of picture social network Pinterest, according to the latest document.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167592152\" target=\"_blank\"><b>ETF Issuer Ranking Ark Falls Out of Top 10! Female Stock God: Economic Recovery Is Not As Expected</b></a></p><p>On Wednesday (Sept. 15), \"female stock goddess\" Cathy Wood's Ark Investment is slipping among U.S. ETF issuers, and Ark now has about $42.4 billion in ETFs, ranking 11th. Ark entered the top 10 earlier this year due to massive inflows of investors, but just as Ark's $21 billion flagship<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>(ticker ARKK) shines, so does competition. With Ark's assets down slightly, rival WisdomTree is already ahead, meanwhile industry newcomer Dimensional Fund Advisors follows Ark, with a gap of less than $3 billion between the two issuers.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167921590\" target=\"_blank\"><b>Coinbase is planning a foray into crypto derivatives</b></a></p><p>Coinbase, the nation's largest cryptocurrency exchange, on Wednesday submitted an application to the National Futures Association to register as a Futures Commission merchant. Cryptocurrency futures and options have long been a glaring shortfall in Coinbase's portfolio, at the same time that Bitcoin derivatives have grown into a huge market. Earlier this year, Coinbase also acquired Skew, an analytics firm known for tracking the derivatives market.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167630594\" target=\"_blank\"><b>Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing</b></a></p><p>Dice Therapeutics' U.S. IPO surged 117% to $36.89 on its first day. The IPO offering price was previously given at $17 per share.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Securities, SVB Leerink and Evercore ISI are the underwriters for the listing.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","USO":"美国原油ETF","DGAZ":"三倍做空天然气ETN(VelocityShares)","UCO":"二倍做多彭博原油ETF","UGAZ":"三倍做多天然气ETN(VelocityShares)","UNG":"美国天然气基金","DDG":"ProShares做空石油与天然气ETF","SCO":"二倍做空彭博原油指数ETF","DWT":"三倍做空原油ETN"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138329020","content_text":"摘要：美三大指数集体收涨，油气股涨幅居前；美国WTI原油收高3.1%，天然气再创7年半新高；美国众议院筹款委员会投票推进税改计划；微软宣布600亿美元股票回购计划；生物制药公司Dice Therapeutics上市首日暴涨117%。\n\n海外市场\n1、美三大指数集体收涨，油气股涨幅居前\n美股周三收高，主要股指在连续下跌之后反弹。美国8月制造业产出增长0.2%不及预期。市场仍在权衡美国8月CPI数据，并担忧德尔塔异毒株影响全球经济复苏。截至收盘，道琼斯指数涨0.68%，标普500指数涨0.85%，纳斯达克指数涨0.82%。\n油气股涨幅居前，墨菲石油、卡隆石油涨超8%，戴文能源涨超7%。\n2、热门中概股周三收盘多数下滑 教育股普遍走低\n热门中概股周三收盘多数下滑，教育股普遍走低，网易有道跌近9%，好未来跌超6%，新东方跌4%，高途跌超2%。\n其他中概股方面，百度涨近1%，哔哩哔哩、新东方、汽车之家跌超4%，雾芯科技跌近3%，拼多多、贝壳跌超2%，阿里巴巴、爱奇艺、京东跌超1%。新能源汽车股中，蔚来汽车涨近0.4%，小鹏汽车跌近1%，理想汽车跌0.2%。\n3、英国8月通胀率达9年新高 欧股全线下跌\n英国通胀率飙升，使欧洲股市的主要指数承受压力。周三欧股主要股指普遍收跌，德国DAX指数跌0.66%，法国CAC40指数跌1.04%，英国富时100指数跌0.23%，欧洲斯托克50指数跌1.08%。\n4、美国WTI原油收高3.1% 天然气再创7年半新高\n美国能源信息署报告产美国上周原油供应减少640万桶，令油价得到支撑。天然气期货价格再创7年半新高。最终，WTI10月期货价格上涨2.15美元，涨幅约3.1%，收于每桶72.61美元，创7月30日以来的最高收盘价。天然气期货同样上涨，并再创2014年2月以来的最高收盘价。纽交所10月天然气期货价额上涨20美分，涨幅3.8%，收于每百万英热单位5.46美元。\n5、黄金期货周三收跌0.7% 结束两连涨\n因美联储缩减刺激政策的不确定性，黄金期货周三录得3个交易日来的首次下跌，几乎完全回吐了周二的涨幅。最终，纽交所12月交割的黄金期货价格下跌12.30美元，跌幅0.7%，收于每盎司1794.80美元。\n国际宏观\n1、美国众议院筹款委员会投票推进税改计划\n美国众议院筹款委员会投票推进对美国富人和公司增税的计划，作为民主党“预算和解”开支法案的一部分。\n2、欧洲央行告诫投资者不要专注于债券购买规模\n在欧洲央行官员决定第四季度放慢资产购买步伐的几天后，该行首席经济学家Philip Lane表示，投资者在评估欧洲央行的货币政策时，不应该单纯地关注资产购买规模。\n3、美国原油库存受飓风影响持续下降 达2019年9月以来最低水平\n全美原油库存降至2019年9月以来最低水平，部分原因是墨西哥湾沿岸供应减少到新冠疫情前低点。毋庸置疑，这主要是飓风“艾达”所致。距离飓风过境时隔近三周，遭受影响的生产商仍在恢复当中，墨西哥湾沿岸产量仅恢复了60%。\n4、1950年以来首次！英国或跌出德国十大贸易伙伴国名单\n根据德国联邦统计局公布的最新数据，2021年，英国可能将自1950年以来首次跌出德国十大贸易伙伴国之列。两国间的贸易额在今年上半年下降2.3%至483亿欧元，由此英国跌到了德国重要贸易伙伴国的第十一位。其中，德国从英国的进口贸易下降了11%，仅为160亿欧元。具体来看，食品行业下降了38.5%，纺织品下降了53%，医药产品下降了47%。\n5、桥水基金创始人达利欧：“现金仍然是垃圾” 对投资者而言最关键是投资多元化\n达利欧表示，现金仍然是垃圾。股市目前享有的优势会逐步减少。对投资者而言，最重要的是在不同货币、资产类别和国家之间进行多元化分配，不只是在股市内部。达利欧对比特币有一定的投资，说相比于他对黄金的投资额，“百分比比率较小”，而他对黄金的投资与其他资产类别相比“百分比比率相对较小”。达利欧目前持有一些比特币，并表示可以考虑将加密货币用作现金和部分金融资产的替代品之一。\n6、英国首相约翰逊改组内阁\n原国际贸易大臣伊丽莎白·特拉斯被任命为外交大臣。原外交大臣多米尼克·拉布转任副首相、大法官和司法大臣，英国媒体称之为“降职”。原商业国务大臣安妮-玛丽·特里维廉接任国际贸易大臣职务。此外还有三位大臣遭解职。\n7、日本央行行长黑田东彦：必要时将进一步放松货币政策\n日本央行行长黑田东彦表示，如有必要，日本央行将进一步放松货币政策，如降低利率。日本央行致力于通过尽可能灵活、宽松的货币政策，尽早实现2%的通胀目标。\n公司新闻\n1、微软宣布600亿美元股票回购计划 还做了这一重要人事任命\n微软宣布了一个重磅消息——批准一项高达600亿美元的股份回购计划。微软表示，回购没有截止日期，可能随时终止，每股0.62美元的新股息比上一季度的股息增加了6美分。微软上一次回购计划是在2019年9月，当时规模是400亿美元。\n2、辉瑞“逼宫”FDA放行第三针 以色列数据显示保护率能恢复到95%\n根据辉瑞公司提交给美国食品和药物管理局（FDA）一份长达52页的报告，以色列的临床数据显示，在接种第二剂疫苗6个月后，接种第三剂辉瑞疫苗可将感染保护率恢复到95%。目前FDA在审核加强针的方面不仅面临辉瑞公司的压力。白宫首席医学顾问福奇曾表示，FDA可能在9月20日前批准辉瑞新冠疫苗加强针。\n3、美版“饿了么”DoorDash将纽约市告上法庭：不想与餐厅共享用户数据\n据报道，美国外卖配送公司DoorDash今日对纽约市提起诉讼，原因是一项新法律要求快递公司向餐厅分享更多客户数据。\n4、美国社区论坛Reddit广告雄心初见成效：今年营收至少翻翻至3.5亿美元\n据报道，今年早些时候GameStop和AMC等公司股价的飙升，在很大程度上得益于拥有16年历史的在线新闻聚合和讨论社区Reddit的推动。这反映出了Reddit的受众规模，最新一份文件显示，Reddit在全球的月度用户达到4.3亿，接近于图片社交网络Pinterest的4.54亿月度用户。\n5、ETF发行商排名方舟跌出前10！女股神: 经济复苏不如预期\n周三（9月15日），“女股神”凯茜伍德的方舟投资在美国ETF发行商中的排名正在下滑，方舟目前拥有约424亿美元的ETF，排名第11。由于投资者大量的资金流入，方舟在今年早些时候进入了前10名，但是，正当方舟价值210亿美元的旗舰ARK Innovation ETF（股票代码ARKK）大放异彩时，竞争也在加剧。由于方舟的资产略有下降，竞争对手WisdomTree已经领先，与此同时，行业新人Dimensional Fund Advisors紧随方舟之后，两家发行商之间的差距不到30亿美元。\n6、Coinbase正计划进军加密货币衍生品领域\n美国最大的加密货币交易所Coinbase周三向美国全国期货协会提交了注册为期货委员会商户的申请。加密货币期货和期权长期以来一直是Coinbase产品组合中的一个明显不足之处，与此同时比特币衍生品已成长为一个巨大的市场。今年早些时候，Coinbase还收购了以跟踪衍生品市场而闻名的分析公司Skew。\n7、生物制药公司Dice Therapeutics上市首日暴涨117%\nDice Therapeutics美国IPO首日暴涨117%，报36.89美元。此前给出的IPO发行价为每股17美元。美国银行证券、SVB Leerink和 Evercore ISI是此次上市的承销商。","news_type":1,"symbols_score_info":{"UWTIF":0.9,"SCO":0.9,"DWTIF":0.9,"UGAZ":0.9,"QGmain":0.9,"BZmain":0.9,"UCO":0.9,"USO":0.9,"DUG":0.9,"NGmain":0.9,"UNG":0.9,"DWT":0.9,"DDG":0.9,"QMmain":0.9,"DGAZ":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889803872,"gmtCreate":1631123217996,"gmtModify":1676530474644,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/889803872","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","kind":"news","pubTimestamp":1631090918,"share":"https://ttm.financial/m/news/1154837170?lang=en_US&edition=fundamental","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","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 Endured a Rocky Day. What's Behind the Selloff</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 Endured a Rocky Day. What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1,"symbols_score_info":{"COIN":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889803177,"gmtCreate":1631123155499,"gmtModify":1676530474644,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889803177","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","kind":"news","pubTimestamp":1631090918,"share":"https://ttm.financial/m/news/1154837170?lang=en_US&edition=fundamental","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","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 Endured a Rocky Day. 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What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1,"symbols_score_info":{"COIN":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2830,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817952059,"gmtCreate":1630900324771,"gmtModify":1676530416293,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817952059","repostId":"1103617448","repostType":2,"repost":{"id":"1103617448","kind":"news","pubTimestamp":1630893800,"share":"https://ttm.financial/m/news/1103617448?lang=en_US&edition=fundamental","pubTime":"2021-09-06 10:03","market":"sh","language":"zh","title":"The Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103617448","media":"海清FICC频道","summary":"9月2日晚，中央宣布将深化新三板改革，设立北京证券交易所，打造服务创新型中小企业主阵地。\n一、设立北京证券交易所是大国博弈、“科技兴邦”的战略抉择\n当前，一场以数字经济、芯片、人工智能、新能源技术、太","content":"<p>On the evening of September 2nd, the central government announced that it would deepen the reform of the New Third Board, set up the Beijing Stock Exchange, and build the main position of serving innovative small and medium-sized enterprises.</p><p><b>First, the establishment of the Beijing Stock Exchange is a strategic choice of the game between great powers and \"prospering the country by science and technology\"</b></p><p>At present, a scientific and technological revolution led by digital economy, chips, artificial intelligence, new energy technology, space exploration technology and biomedical technology is coming.</p><p><b>In China's high-quality economic development, industrial transformation and upgrading and global industrial competition, the competition of scientific and technological innovation is the core.</b>Whether China can gain a first-mover advantage in this scientific and technological competition not only determines whether China can solve the short-term problem of \"stuck neck\" of key technologies, but also determines the long-term problem of who will be the \"leader\" of the global industrial economy in the future and whose century will be in the 21st century.</p><p><b>From the perspective of the rise of great powers in history, science and technology is the fundamental driving force:</b></p><p>With the help of the leading advantage of steam engine, Britain took the lead in starting the first industrial revolution and became the world hegemon;</p><p>Virtue overtook Britain in corners in the field of internal combustion engine and electrification, leading the second industrial revolution and replacing Britain;</p><p>After World War II, the United States led the third industrial revolution in the fields of atomic energy, biomedicine, aerospace and computers, further consolidating its position as a global scientific and technological leader and world hegemony.</p><p><b>In the U.S. -Japan trade war in the 1980s and 1990s, apart from the superficial factor and direct incentive of the Plaza Agreement, the key to the ultimate victory of the United States over Japan also lies in the fundamental difference in the choice of driving forces for economic development between the two countries:</b></p><p>Japan follows the traditional host bank system, supports the development of traditional large-scale manufacturing enterprises and real estate industry, and its financial system does not meet the needs of scientific and technological innovation. After the Plaza Accord, the yen appreciated and exports were setbacks. Japan directly stimulated the stock market bubble and housing market bubble through the big currency release, giving birth to \"false prosperity\".</p><p>Through the Nasdaq market, the United States provided a convenient financing environment for technological innovation enterprises. Silicon Valley developed and cultivated a large number of later Internet enterprises.</p><p>By the 1990s, Japan's housing market and stock market bubbles burst, and the economy fell into the \"lost twenty years\"; The United States has accumulated a lot of experience, the Internet revolution has risen, and there has been a \"new economic prosperity\". Japan is completely out of the US-Japan rivalry.</p><p><b>Great power game, science and technology determines the world! Science and technology is the primary productive force and the key to the rise of great powers and global competition.</b></p><p><b>Finance is the blood of entities, technological competition, finance comes first. Which country's capital market can better serve innovation and facilitate the financing and development of high-tech enterprises, which country's scientific and technological innovation is more likely to make rapid progress, and at the same time, it can attract high-tech enterprises from other countries and regions to go public locally.</b></p><p><b>In recent years, NASDAQ in the United States has also continuously carried out institutional innovation, providing more convenient policy mechanism design for small and medium-sized science and technology enterprises to go public.</b>For example, in recent years, many special purpose acquisition companies (SPACs) have appeared in the US stock market, which has become the \"shortcut to the south\" for many enterprises to go public by backdoor. Its operation mode is: the first step is to set up a SPAC company and apply to the regulatory agency for issuance of shares to raise funds, but at this time, the shares held by the promoter can only be traded separately in the limited market; In the second step, within 18~24 months, the management team will find a target company that can be acquired, all shareholders will vote, and after the majority agrees, the acquisition will be completed, and the merger will be formed into a new company, and the stock will be officially listed and traded. Once the lock-up period of stocks held by the promoter expires, they can withdraw and cash out. SPAC mode enables enterprises to go public in a short time, and the cost is lower than IPO, shell listing/backdoor listing.</p><p><b>Nowadays, China's decision-makers have completely made up their minds to transform, bid farewell to the old model of \"real estate + land finance\" based on urbanization dividend, and shape a new growth model with three pillars of \"hard technology + green and low carbon + supporting small and micro private enterprises\".</b></p><p><b>In order to undertake the above-mentioned development strategic transformation, at present, China needs an exchange that focuses on serving innovative small and medium-sized enterprises and undertakes the mission of cultivating a number of specialized and new small and medium-sized enterprises. The emergence of Beijing Stock Exchange has adapted to the needs of the times and responded to the needs of global scientific and technological competition.</b></p><p><b>Second, the Beijing Stock Exchange was not \"born out of thin air\", but the result of the endogenous evolution of Beijing's long-term scientific and technological innovation support policy</b></p><p>Beijing is a city with a high concentration of innovative enterprises and financial resources in China. Looking at the policy evolution path in Beijing's scientific and technological innovation field, we can find that,<b>At every important historical juncture, Beijing has launched major policy and institutional innovations:</b></p><p>In the 1980s and 1990s, with the rise of the Internet technology industry in the United States, Beijing established<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>It has become the area with the most intensive scientific and educational intelligence and human resources in China, and is called \"China's Silicon Valley\".</p><p>In 2006, the unlisted joint-stock company of Zhongguancun Science and Technology Park entered the agency transfer system for share quotation transfer, which was called the \"New Third Board\".</p><p>On July 27, 2020, the establishment of the selected layer of the New Third Board and the promotion ceremony of the first batch of enterprises were held in the listing hall of the National Equities Exchange and Quotations Corporation. The first batch of 32 companies have all completed the public offering procedures, and the selected layer was officially established and opened for trading.</p><p><b>Nowadays, on the basis of more than a year's pilot project in the selected layer, the establishment of Beijing Stock Exchange on the basis of the selected layer can be described as a \"natural success\".</b></p><p><b>From the perspective of Beijing's industrial transformation and upgrading, digital economy and scientific and technological innovation are important supports. The establishment of Beijing Stock Exchange is important for<a href=\"https://laohu8.com/S/00925\">Beijing Construction</a>It is of great significance to be a financial center and scientific and technological innovation center with global influence.</b></p><p><b>3. What is most expected of Beijing Stock Exchange is whether the system construction can make further breakthroughs and innovations</b></p><p><b>China already has two major exchanges in Shanghai and Shenzhen. The biggest attraction of the establishment of Beijing Stock Exchange is not that there is another exchange. What is most worth looking forward to is what institutional innovations will be in the future!</b></p><p>For a long time before, China's stock market did not implement a registration system, and it was impossible to list enterprises with different rights in the same shares, and it was impossible to list unprofitable high-tech enterprises. The launch of science and technology innovation board solves the problem of registration system, and at the same time creates conditions for unprofitable high-tech enterprises to go public. Beijing Stock Exchange has further relaxed the rising market value and financial conditions of innovative small and medium-sized enterprises, making it more convenient for enterprises to go public and raise funds.</p><p><b>Judging from the information disclosed by the current regulation, the initial planning of Beijing Stock Exchange is an extension of the New Third Board:</b>Set up Beijing Stock Exchange on the basis of the existing select layer of the New Third Board, translate the basic systems of the select layer as a whole, insist that listed companies in Beijing Stock Exchange are generated by innovative companies, maintain the market structure of \"progressive layer by layer\" between the basic layer, innovation layer and Beijing Stock Exchange of the New Third Board, and simultaneously pilot the securities issuance registration system.</p><p>Previously, the selected layer of the New Third Board also designed a system of transferring to the Science and Technology Innovation Board and the Growth Enterprise Market, but the number of enterprises successfully transferred to the board was limited. The establishment of Beijing Stock Exchange based on the existing selected layer of the New Third Board is not only conducive to enhancing the liquidity and listing channels of the equity of listed enterprises in the New Third Board, but also to \"build the main position of service innovative small and medium-sized enterprises\" and \"cultivate a group of specialized and new small and medium-sized enterprises\".</p><p><b>Judging from the conditions and thresholds of listing/listing of the selected layer of the New Third Board and the Science and Technology Innovation Board, the requirements of the selected layer for the market value conditions and financial conditions of enterprises are more relaxed, which is more conducive to the listing of small and medium-sized science and technology enterprises.</b></p><p><b>Can Beijing Stock Exchange have more institutional innovations in the future? Can it further promote the reform process of China's stock market? Worth our anticipation.</b></p><p><img src=\"https://static.tigerbbs.com/24adac74431844c001244acdf21f3ca0\" tg-width=\"892\" tg-height=\"853\" width=\"100%\" height=\"auto\"></p><p><b>Fourth, the establishment of Beijing Stock Exchange will bring subversive changes in PE fund industry</b></p><p>The establishment of Beijing Stock Exchange is conducive to the listing of innovative small and medium-sized enterprises, the activation of the stock trading market, and the growth of brokerage underwriting business and brokerage business income. Therefore, brokerage stocks collectively rose sharply after the opening of the market on Friday.</p><p>But we think,<b>The establishment of Beijing Stock Exchange has very limited benefits to brokerage stocks, and at best, it is just to drink some \"soup\". PE/VC funds are the biggest beneficiaries or \"meat-eaters\" established by Beijing Stock Exchange, and the golden age of first-class PE funds can be expected to come.</b></p><p>In the past, the exit channels of PE/VC investment were relatively scarce, and basically, it was necessary to wait until the IPO of the invested enterprise was listed before it could exit smoothly. However, in the past, enterprises had a high threshold and a long cycle for listing in A shares, while the duration of general PE funds was often only 3-7 years.</p><p>In order to ensure that the fund can exit smoothly at the end of the duration of the fund and cash the income for investors, China's PE funds can often only accompany the \"second half\", and only intervene when the enterprise grows to a certain scale and can go public in a short time; Some enterprises are facing the problem of difficulty in listing in China, and finally will choose VIE structure to go public in the United States or Hong Kong, so that PE funds can withdraw.</p><p><b>With the launch of Science and Technology Innovation Board, the reform of GEM registration system and the establishment of Beijing Stock Exchange, it is more convenient for innovative small and medium-sized enterprises to go public, and the conditions are relaxed. They can go public at an earlier stage of enterprise development, which can alleviate the problem of mismatch between the term of PE fund products and the listing term of invested companies in the past, and change the phenomenon that Chinese PE funds gather to invest in pre-IPO or approach the listing round. The listing of innovative small and medium-sized enterprises no longer needs to complete the long process of angel round-A round-B round-C round-D round-... -IPO, thus promoting more PE funds to move forward on the investment side, and also promoting the development of VC investment.</b></p><p><b>The establishment of Beijing Stock Exchange has also changed the underlying logic of the survival of PE funds in the primary market, and will subvert the current industry ecology in the future.</b>At present, the PE and VC markets show a state of polarization: a large number of start-ups are competing for investment in head PE funds, while a large number of small and medium-sized PE funds are asking for share in star projects; The head PE fund has strong fund-raising ability, and it is difficult for small and medium-sized PE funds to find LP without special resources. In the future, it will be easier for innovative small and medium-sized enterprises to go public, which is conducive to the survival and development of specialized and characteristic small and medium-sized PE funds, and is expected to change the industry ecology of the monopoly dominance of large PE funds at the head.</p>","source":"lsy1568619116533","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 Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">海清FICC频道</strong><span class=\"h-time small\">2021-09-06 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On the evening of September 2nd, the central government announced that it would deepen the reform of the New Third Board, set up the Beijing Stock Exchange, and build the main position of serving innovative small and medium-sized enterprises.</p><p><b>First, the establishment of the Beijing Stock Exchange is a strategic choice of the game between great powers and \"prospering the country by science and technology\"</b></p><p>At present, a scientific and technological revolution led by digital economy, chips, artificial intelligence, new energy technology, space exploration technology and biomedical technology is coming.</p><p><b>In China's high-quality economic development, industrial transformation and upgrading and global industrial competition, the competition of scientific and technological innovation is the core.</b>Whether China can gain a first-mover advantage in this scientific and technological competition not only determines whether China can solve the short-term problem of \"stuck neck\" of key technologies, but also determines the long-term problem of who will be the \"leader\" of the global industrial economy in the future and whose century will be in the 21st century.</p><p><b>From the perspective of the rise of great powers in history, science and technology is the fundamental driving force:</b></p><p>With the help of the leading advantage of steam engine, Britain took the lead in starting the first industrial revolution and became the world hegemon;</p><p>Virtue overtook Britain in corners in the field of internal combustion engine and electrification, leading the second industrial revolution and replacing Britain;</p><p>After World War II, the United States led the third industrial revolution in the fields of atomic energy, biomedicine, aerospace and computers, further consolidating its position as a global scientific and technological leader and world hegemony.</p><p><b>In the U.S. -Japan trade war in the 1980s and 1990s, apart from the superficial factor and direct incentive of the Plaza Agreement, the key to the ultimate victory of the United States over Japan also lies in the fundamental difference in the choice of driving forces for economic development between the two countries:</b></p><p>Japan follows the traditional host bank system, supports the development of traditional large-scale manufacturing enterprises and real estate industry, and its financial system does not meet the needs of scientific and technological innovation. After the Plaza Accord, the yen appreciated and exports were setbacks. Japan directly stimulated the stock market bubble and housing market bubble through the big currency release, giving birth to \"false prosperity\".</p><p>Through the Nasdaq market, the United States provided a convenient financing environment for technological innovation enterprises. Silicon Valley developed and cultivated a large number of later Internet enterprises.</p><p>By the 1990s, Japan's housing market and stock market bubbles burst, and the economy fell into the \"lost twenty years\"; The United States has accumulated a lot of experience, the Internet revolution has risen, and there has been a \"new economic prosperity\". Japan is completely out of the US-Japan rivalry.</p><p><b>Great power game, science and technology determines the world! Science and technology is the primary productive force and the key to the rise of great powers and global competition.</b></p><p><b>Finance is the blood of entities, technological competition, finance comes first. Which country's capital market can better serve innovation and facilitate the financing and development of high-tech enterprises, which country's scientific and technological innovation is more likely to make rapid progress, and at the same time, it can attract high-tech enterprises from other countries and regions to go public locally.</b></p><p><b>In recent years, NASDAQ in the United States has also continuously carried out institutional innovation, providing more convenient policy mechanism design for small and medium-sized science and technology enterprises to go public.</b>For example, in recent years, many special purpose acquisition companies (SPACs) have appeared in the US stock market, which has become the \"shortcut to the south\" for many enterprises to go public by backdoor. Its operation mode is: the first step is to set up a SPAC company and apply to the regulatory agency for issuance of shares to raise funds, but at this time, the shares held by the promoter can only be traded separately in the limited market; In the second step, within 18~24 months, the management team will find a target company that can be acquired, all shareholders will vote, and after the majority agrees, the acquisition will be completed, and the merger will be formed into a new company, and the stock will be officially listed and traded. Once the lock-up period of stocks held by the promoter expires, they can withdraw and cash out. SPAC mode enables enterprises to go public in a short time, and the cost is lower than IPO, shell listing/backdoor listing.</p><p><b>Nowadays, China's decision-makers have completely made up their minds to transform, bid farewell to the old model of \"real estate + land finance\" based on urbanization dividend, and shape a new growth model with three pillars of \"hard technology + green and low carbon + supporting small and micro private enterprises\".</b></p><p><b>In order to undertake the above-mentioned development strategic transformation, at present, China needs an exchange that focuses on serving innovative small and medium-sized enterprises and undertakes the mission of cultivating a number of specialized and new small and medium-sized enterprises. The emergence of Beijing Stock Exchange has adapted to the needs of the times and responded to the needs of global scientific and technological competition.</b></p><p><b>Second, the Beijing Stock Exchange was not \"born out of thin air\", but the result of the endogenous evolution of Beijing's long-term scientific and technological innovation support policy</b></p><p>Beijing is a city with a high concentration of innovative enterprises and financial resources in China. Looking at the policy evolution path in Beijing's scientific and technological innovation field, we can find that,<b>At every important historical juncture, Beijing has launched major policy and institutional innovations:</b></p><p>In the 1980s and 1990s, with the rise of the Internet technology industry in the United States, Beijing established<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>It has become the area with the most intensive scientific and educational intelligence and human resources in China, and is called \"China's Silicon Valley\".</p><p>In 2006, the unlisted joint-stock company of Zhongguancun Science and Technology Park entered the agency transfer system for share quotation transfer, which was called the \"New Third Board\".</p><p>On July 27, 2020, the establishment of the selected layer of the New Third Board and the promotion ceremony of the first batch of enterprises were held in the listing hall of the National Equities Exchange and Quotations Corporation. The first batch of 32 companies have all completed the public offering procedures, and the selected layer was officially established and opened for trading.</p><p><b>Nowadays, on the basis of more than a year's pilot project in the selected layer, the establishment of Beijing Stock Exchange on the basis of the selected layer can be described as a \"natural success\".</b></p><p><b>From the perspective of Beijing's industrial transformation and upgrading, digital economy and scientific and technological innovation are important supports. The establishment of Beijing Stock Exchange is important for<a href=\"https://laohu8.com/S/00925\">Beijing Construction</a>It is of great significance to be a financial center and scientific and technological innovation center with global influence.</b></p><p><b>3. What is most expected of Beijing Stock Exchange is whether the system construction can make further breakthroughs and innovations</b></p><p><b>China already has two major exchanges in Shanghai and Shenzhen. The biggest attraction of the establishment of Beijing Stock Exchange is not that there is another exchange. What is most worth looking forward to is what institutional innovations will be in the future!</b></p><p>For a long time before, China's stock market did not implement a registration system, and it was impossible to list enterprises with different rights in the same shares, and it was impossible to list unprofitable high-tech enterprises. The launch of science and technology innovation board solves the problem of registration system, and at the same time creates conditions for unprofitable high-tech enterprises to go public. Beijing Stock Exchange has further relaxed the rising market value and financial conditions of innovative small and medium-sized enterprises, making it more convenient for enterprises to go public and raise funds.</p><p><b>Judging from the information disclosed by the current regulation, the initial planning of Beijing Stock Exchange is an extension of the New Third Board:</b>Set up Beijing Stock Exchange on the basis of the existing select layer of the New Third Board, translate the basic systems of the select layer as a whole, insist that listed companies in Beijing Stock Exchange are generated by innovative companies, maintain the market structure of \"progressive layer by layer\" between the basic layer, innovation layer and Beijing Stock Exchange of the New Third Board, and simultaneously pilot the securities issuance registration system.</p><p>Previously, the selected layer of the New Third Board also designed a system of transferring to the Science and Technology Innovation Board and the Growth Enterprise Market, but the number of enterprises successfully transferred to the board was limited. The establishment of Beijing Stock Exchange based on the existing selected layer of the New Third Board is not only conducive to enhancing the liquidity and listing channels of the equity of listed enterprises in the New Third Board, but also to \"build the main position of service innovative small and medium-sized enterprises\" and \"cultivate a group of specialized and new small and medium-sized enterprises\".</p><p><b>Judging from the conditions and thresholds of listing/listing of the selected layer of the New Third Board and the Science and Technology Innovation Board, the requirements of the selected layer for the market value conditions and financial conditions of enterprises are more relaxed, which is more conducive to the listing of small and medium-sized science and technology enterprises.</b></p><p><b>Can Beijing Stock Exchange have more institutional innovations in the future? Can it further promote the reform process of China's stock market? Worth our anticipation.</b></p><p><img src=\"https://static.tigerbbs.com/24adac74431844c001244acdf21f3ca0\" tg-width=\"892\" tg-height=\"853\" width=\"100%\" height=\"auto\"></p><p><b>Fourth, the establishment of Beijing Stock Exchange will bring subversive changes in PE fund industry</b></p><p>The establishment of Beijing Stock Exchange is conducive to the listing of innovative small and medium-sized enterprises, the activation of the stock trading market, and the growth of brokerage underwriting business and brokerage business income. Therefore, brokerage stocks collectively rose sharply after the opening of the market on Friday.</p><p>But we think,<b>The establishment of Beijing Stock Exchange has very limited benefits to brokerage stocks, and at best, it is just to drink some \"soup\". PE/VC funds are the biggest beneficiaries or \"meat-eaters\" established by Beijing Stock Exchange, and the golden age of first-class PE funds can be expected to come.</b></p><p>In the past, the exit channels of PE/VC investment were relatively scarce, and basically, it was necessary to wait until the IPO of the invested enterprise was listed before it could exit smoothly. However, in the past, enterprises had a high threshold and a long cycle for listing in A shares, while the duration of general PE funds was often only 3-7 years.</p><p>In order to ensure that the fund can exit smoothly at the end of the duration of the fund and cash the income for investors, China's PE funds can often only accompany the \"second half\", and only intervene when the enterprise grows to a certain scale and can go public in a short time; Some enterprises are facing the problem of difficulty in listing in China, and finally will choose VIE structure to go public in the United States or Hong Kong, so that PE funds can withdraw.</p><p><b>With the launch of Science and Technology Innovation Board, the reform of GEM registration system and the establishment of Beijing Stock Exchange, it is more convenient for innovative small and medium-sized enterprises to go public, and the conditions are relaxed. They can go public at an earlier stage of enterprise development, which can alleviate the problem of mismatch between the term of PE fund products and the listing term of invested companies in the past, and change the phenomenon that Chinese PE funds gather to invest in pre-IPO or approach the listing round. The listing of innovative small and medium-sized enterprises no longer needs to complete the long process of angel round-A round-B round-C round-D round-... -IPO, thus promoting more PE funds to move forward on the investment side, and also promoting the development of VC investment.</b></p><p><b>The establishment of Beijing Stock Exchange has also changed the underlying logic of the survival of PE funds in the primary market, and will subvert the current industry ecology in the future.</b>At present, the PE and VC markets show a state of polarization: a large number of start-ups are competing for investment in head PE funds, while a large number of small and medium-sized PE funds are asking for share in star projects; The head PE fund has strong fund-raising ability, and it is difficult for small and medium-sized PE funds to find LP without special resources. In the future, it will be easier for innovative small and medium-sized enterprises to go public, which is conducive to the survival and development of specialized and characteristic small and medium-sized PE funds, and is expected to change the industry ecology of the monopoly dominance of large PE funds at the head.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/lqSPqmgOxaUC0SuD0zmyPQ\">海清FICC频道</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f5481d622d7bc535b67b2738f86cc0db","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/lqSPqmgOxaUC0SuD0zmyPQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103617448","content_text":"9月2日晚，中央宣布将深化新三板改革，设立北京证券交易所，打造服务创新型中小企业主阵地。\n一、设立北京证券交易所是大国博弈、“科技兴邦”的战略抉择\n当前，一场以数字经济、芯片、人工智能、新能源技术、太空探索技术、生物医药技术为引领的科技革命正在到来。\n在中国经济高质量发展、产业转型升级和全球产业竞争中，科技创新的竞争是核心。中国能否在这一场科技竞争中取得先发优势，不仅仅决定了中国能否解决关键技术“卡脖子”的短期问题，还决定了未来谁是全球产业经济的“领头羊”、21世纪是谁的世纪的长期问题。\n从历史上大国崛起的过程来看，科技是根本驱动力：\n英国借助蒸汽机的领先优势率先开始了第一次工业革命，成为世界霸主；\n美德在内燃机、电气化领域弯道超车超过英国，引领了第二次工业革命，取代了英国的地位；\n二战后美国在原子能、生物医药、航空航天、计算机等领域引领了第三次工业革命，进一步巩固了其全球科技领头羊地位和世界霸主地位。\n在上世纪八九十年代的美日贸易战中，除了“广场协议”这一表面因素和直接诱因外，美国最终能够胜过日本的关键也在于两国在经济发展驱动力选择上的根本差异：\n日本因循传统的主办银行制度，支持传统的大型制造业企业和房地产行业发展，其金融体制不适应科技创新的需要。在广场协议后，日元升值、出口受挫，日本更是直接通过货币大放水刺激起股市泡沫和房市泡沫，催生出“虚假的繁荣”。\n美国通过纳斯达克市场为科技创新企业提供便利的融资环境，硅谷发展起来，培育了一大批后来的互联网企业。\n到了九十年代，日本房市和股市泡沫破裂，经济陷入“失去的二十年”；美国厚积薄发，互联网革命兴起，出现“新经济繁荣”。日本在美日竞争中彻底出局。\n大国博弈，科技定乾坤！科技是第一生产力，是大国崛起和全球竞争的关键。\n金融是实体的血液，科技竞争，金融先行。哪个国家的资本市场更能服务创新，更能为高科技企业融资和发展提供便利，哪个国家的科技创新就更有可能快速进步，同时还能吸引其他国家和地区的高科技企业来本地上市。\n近年来美国纳斯达克也在不断进行制度创新，为中小科创企业上市提供更便捷的政策机制设计。比如，近年来美国股市出现许多特殊目的收购公司（SPAC），成为许多企业借壳上市的“终南捷径”。其操作模式是：第一步，成立一个SPAC公司，向监管机构申请发股募资，但此时发起人持有的股票只能在限定市场上单独交易；第二步，在18~24个月内，管理团队找到一家可以收购的目标公司，全体股东投票，多数同意后完成收购，合并成新公司，股票就可以正式上市交易。发起人持有的股票等锁定期一过，就可以退出套现。SPAC模式能够让企业在短时间内实现上市，成本也比IPO、买壳上市/借壳上市更低。\n如今中国决策层已经彻底下定决心转型，告别以城镇化红利为基础的“房地产+土地财政”旧模式，塑造“硬科技+绿色低碳+支持民企小微”为三大支柱的新增长模式。\n为承接上述发展战略转型，目前国内需要一个聚焦服务创新型中小企业、承担培育一批专精特新中小企业使命的交易所，北京证券交易所的出现适应了时代的需要，也响应了全球科技竞争的需求。\n二、北京证券交易所并非“凭空出世”，而是北京长期以来科技创新支持政策内生进化的结果\n北京是中国创新企业和金融资源高度集中的城市，纵观北京科技创新领域的政策演进路径可以发现，在每一个重要的历史关口，北京都推出了重大的政策和制度创新：\n在上世纪八九十年代，随着美国互联网科技产业兴起，北京建立了中关村，成为我国科教智力和人才资源最为密集的区域，被称为“中国硅谷”。\n2006年，中关村科技园区非上市股份公司进入代办转让系统进行股份报价转让，称为“新三板”。\n2020年7月27日，新三板精选层设立暨首批企业晋层仪式在全国股转公司挂牌大厅举行，首批32家公司已全部完成公开发行程序，精选层正式设立并开市交易。\n如今，在精选层进行了一年多的试点的基础上，以精选层为基础组建北京证券交易所，可谓“水到渠成”。\n从北京产业转型升级的方向来看，数字经济、科技创新是重要的支撑，北京证券交易所的设立，对于北京建设具有全球影响力的金融中心、科技创新中心具有重大意义。\n三、北京证券交易所最值得期待的是制度建设能否再做突破创新\n中国已有沪深两大交易所，设立北京证券交易所的最大看点并不是又多了一家交易所，其最值得期待的是未来还会有哪些制度创新！\n此前很长一段时间，中国股市没有实行注册制、无法让同股不同权的企业上市、无法让未盈利的高科技企业上市。科创板的推出解决了注册制的问题，同时为未盈利的高科技企业上市创造了条件。北京证券交易所进一步放宽了创新型中小企业上升的市值、财务条件，企业上市融资更加便捷。\n从目前监管披露的信息来看，北京证券交易所的初期规划是新三板的延伸：以现有的新三板精选层为基础组建北京证券交易所，总体平移精选层各项基础制度，坚持北京证券交易所上市公司由创新层公司产生，维持新三板基础层、创新层与北京证券交易所“层层递进”的市场结构，同步试点证券发行注册制。\n此前新三板精选层也设计了向科创板、创业板转板上市的制度，但成功转板上市的企业有限。以现有的新三板精选层为基础组建北京证券交易所，不仅有利于增强新三板挂牌企业股权的流动性和上市渠道，还是为了“打造服务创新型中小企业主阵地”，“培育一批专精特新中小企业”。\n从新三板精选层和科创板挂牌/上市的条件和门槛来看，精选层的对企业市值条件、财务条件的要求更加宽松，更有利于中小科创企业的上市。\n未来北京证券交易所是否能有更多的制度创新？能否进一步推动中国股票市场的改革进程？值得我们期待。\n\n四、北京证券交易所的设立将带来PE基金行业的颠覆性变革\n北京证券交易所的设立，有利于创新型中小企业上市，活跃股票交易市场，有利于券商承销业务和经纪业务收入增长，因此，周五开盘后券商股集体大涨。\n但我们认为，北京证券交易所的设立对券商股的利好非常有限，充其量也就是喝点“汤”。北京证券交易所设立的最大受益者或者说“吃肉的”是PE/VC基金，一级PE基金黄金时代可期待来临。\n过去 PE/VC投资的退出渠道比较匮乏，基本上需要等到被投企业IPO上市后才能顺畅地退出。但以前企业在A股上市门槛高、周期长，而一般的PE基金的存续期限往往只有3—7年。\n为了保证在基金存续期结束时能够顺利退出、给投资人兑现收益，中国的PE基金往往只能陪跑“后半场”，在企业成长到一定规模、能够在较短的时间内上市时才介入；部分企业在中国面临上市难的问题，最后会选择VIE架构去美国或香港上市，让PE基金得以退出。\n随着科创板推出、创业板注册制改革、北京证券交易所设立，创新型中小企业上市更加便捷，条件放宽，可以在企业发展的较早阶段上市，能够缓解过去PE基金产品期限和被投公司上市期限不匹配的难题，改变中国PE基金扎堆投pre-IPO或临近上市轮现象。创新型中小企业上市不再需要完整走完天使轮—A轮—B轮—C轮—D轮—……—IPO的漫长过程，从而促使更多的PE基金在投资端前移，也可以促进VC投资的发展。\n北京证券交易所的设立，还改变了一级市场PE基金生存的底层逻辑，未来将颠覆目前的行业生态。目前的PE、VC市场，呈现出两极分化的状态：一大批初创企业争相求着头部PE基金投资，而一大批中小PE基金则求着明星项目要份额；头部PE基金募资能力强，中小PE基金若无特殊资源则很难找到LP。未来创新型中小企业上市更加容易，有利于专业化、特色型中小PE基金的生存发展，有望改变头部大型PE基金垄断主导权的行业生态。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818727813,"gmtCreate":1630451820732,"gmtModify":1676530304647,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818727813","repostId":"2164869989","repostType":4,"repost":{"id":"2164869989","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":1630442091,"share":"https://ttm.financial/m/news/2164869989?lang=en_US&edition=fundamental","pubTime":"2021-09-01 04:34","market":"us","language":"en","title":"Wall Street's subdued finish fails to detract from strong August","url":"https://stock-news.laohu8.com/highlight/detail?id=2164869989","media":"Reuters","summary":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\n","content":"<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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>Wall Street's subdued finish fails to detract from strong August</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street's subdued finish fails to detract from strong August\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\">2021-09-01 04:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","DXD":"两倍做空道琼30指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares",".SPX":"S&P 500 Index","SH":"做空标普500-Proshares","QQQ":"纳指100ETF","SDOW":"三倍做空道指30ETF-ProShares",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","DJX":"1/100道琼斯","UDOW":"三倍做多道指30ETF-ProShares",".IXIC":"NASDAQ Composite","SPXU":"三倍做空标普500ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","PSQ":"做空纳斯达克100指数ETF-ProShares","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164869989","content_text":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\nIndexes down: Dow 0.11%, S&P 0.13%, Nasdaq 0.04%\nAll main indexes post solid monthly performances\n\nAug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.\nHaving all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.\nFor the S&P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.\nThe performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.\n\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.\nWhile a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.\nU.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.\nA Reuters poll last week showed strategists believe the S&P 500 is likely to end 2021 not far from its current level.\n\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.\nTechnology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index\nwas among the worst performers on Tuesday.\nShares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.\nSeven of the 11 major S&P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.\nOn Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite dropped 6.66 points, or 0.04%, to 15,259.24.\nKansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co to proceed with its $29 billion proposed acquisition of its U.S. peer.\nVolume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"IVV":0.9,"SDOW":0.9,"PSQ":0.9,"UPRO":0.9,".SPX":0.9,"DOG":0.9,"SH":0.9,"MNQmain":0.9,".IXIC":0.9,"QLD":0.9,"SSO":0.9,"SQQQ":0.9,"SPXU":0.9,"TQQQ":0.9,"DDM":0.9,"ESmain":0.9,"NQmain":0.9,"SDS":0.9,".DJI":0.9,"QID":0.9,"OEX":0.9,"QQQ":0.9,"OEF":0.9,"DJX":0.9,"UDOW":0.9,"DXD":0.9}},"isVote":1,"tweetType":1,"viewCount":3369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811147384,"gmtCreate":1630302705748,"gmtModify":1676530262209,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/811147384","repostId":"2163776380","repostType":4,"isVote":1,"tweetType":1,"viewCount":3426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813251573,"gmtCreate":1630207369392,"gmtModify":1676530243654,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/813251573","repostId":"1129129956","repostType":4,"repost":{"id":"1129129956","kind":"news","pubTimestamp":1630201285,"share":"https://ttm.financial/m/news/1129129956?lang=en_US&edition=fundamental","pubTime":"2021-08-29 09:41","market":"us","language":"en","title":"This Unloved Tech Stock Could Make You Rich One Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1129129956","media":"Motley Fool","summary":"The iBuying business is a race to grow larger, and Opendoor is winning.The company is growing at a rate that is two years ahead of what management projected just a year earlier.The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.Real estate iBuying company Opendoor Technologieshas been executing at a high level in the three quarters since coming public via a special purpose acquisition company  merger. In a race to disrupt residential ","content":"<p>Key Points</p>\n<ul>\n <li>The iBuying business is a race to grow larger, and Opendoor is winning.</li>\n <li>The company is growing at a rate that is two years ahead of what management projected just a year earlier.</li>\n <li>The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.</li>\n</ul>\n<p></p>\n<p>Real estate iBuying company&nbsp;<b>Opendoor Technologies</b>(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.</p>\n<p>Despite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.</p>\n<h3>1. Opendoor is winning the iBuying battle</h3>\n<p>The traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.</p>\n<p>Opendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.</p>\n<p>After seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including&nbsp;<b>Zillow Group</b>&nbsp;and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.</p>\n<p>According to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.</p>\n<h3>2. Revenue growth is ahead of schedule</h3>\n<p>When companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.</p>\n<p>Fast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"</p>\n<p>In other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.</p>\n<h3>3. SPACs are out of favor with the market... opportunity?</h3>\n<p>Investors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.</p>\n<p>Investors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.</p>\n<p>But if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.</p>\n<p>Competitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.</p>\n<h3>Here's the bottom line</h3>\n<p>Real estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"<b>Amazon</b>\" of home buying, but what seems certain is that the company is&nbsp;poised to be a big player&nbsp;in real estate's future if it keeps performing like this.</p>\n<p></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>This Unloved Tech Stock Could Make You Rich One Day</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\">\nThis Unloved Tech Stock Could Make You Rich One Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-29 09:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OPEN":"Opendoor Technologies Inc"},"source_url":"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129129956","content_text":"Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.\n\n\nReal estate iBuying company Opendoor Technologies(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.\nDespite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.\n1. Opendoor is winning the iBuying battle\nThe traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.\nOpendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.\nAfter seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including Zillow Group and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.\nAccording to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.\n2. Revenue growth is ahead of schedule\nWhen companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.\nFast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"\nIn other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.\n3. SPACs are out of favor with the market... opportunity?\nInvestors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.\nInvestors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.\nBut if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.\nCompetitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.\nHere's the bottom line\nReal estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"Amazon\" of home buying, but what seems certain is that the company is poised to be a big player in real estate's future if it keeps performing like this.","news_type":1,"symbols_score_info":{"OPEN":0.9}},"isVote":1,"tweetType":1,"viewCount":3722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813353357,"gmtCreate":1630136874179,"gmtModify":1676530233355,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/813353357","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":1254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130756233,"gmtCreate":1621568829522,"gmtModify":1704359831579,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574844155958672","authorIdStr":"3574844155958672"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130756233","repostId":"2137763179","repostType":4,"repost":{"id":"2137763179","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":1621544173,"share":"https://ttm.financial/m/news/2137763179?lang=en_US&edition=fundamental","pubTime":"2021-05-21 04:56","market":"us","language":"en","title":"Wall Street ends to snap 3-day losing streak as technology stocks rise higher","url":"https://stock-news.laohu8.com/highlight/detail?id=2137763179","media":"Reuters","summary":"May 20 (Reuters) - Wall Street's main indexes rebounded on Thursday after a three-day slide, buoyed ","content":"<p>May 20 (Reuters) - Wall Street's main indexes rebounded on Thursday after a three-day slide, buoyed by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.</p><p>Bitcoin clawed back some lost ground to trade near $40,000 a day after a brutal selloff, helping renew appetite for risk. Crypto-exchange operator Coinbase Global&nbsp;rose 3.83%, while Crypto-miners Riot Blockchain&nbsp;and Marathon Digital Holdings&nbsp;gained 0.17% and 0.83% respectively.</p><p>\"There's a big risk, regulatory risk, to crypto that's not fully appreciated,\" said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. \"The central banks have a monopoly on currency. And so we just think that it's a little bit surprising they haven't enforced that monopoly.\"</p><p>The number of Americans filing for new claims for unemployment benefits fell to 444,000 in the week ended May 15, down for the third straight time, suggesting job growth picked up this month, though companies still are desperate for workers.</p><p>Wall Street's main indexes fell on Wednesday, extending losses since, after minutes from the Federal Reserve's meeting last month indicated some policymakers thought it would be appropriate to discuss easing of crisis-era support, such as tapering bond purchases, in upcoming meetings if the strong economic momentum is sustained.</p><p>\"Right now really there is just <a href=\"https://laohu8.com/S/AONE\">one</a> driver of the market, and that is the Fed and potential timing of tapering and quantitative easing,\" Hatfield added.</p><p>Signs of rising inflation have increased bets that the Federal Reserve may tighten its policy soon, hitting rate-sensitive growth stocks that set the tech-heavy Nasdaq on track for its fifth consecutive weekly drop.</p><p>The Dow Jones Industrial Average&nbsp;rose 188.11 points, or 0.55%, to 34,084.15, the S&amp;P 500    gained 43.44 points, or 1.06%, to 4,159.12 and the Nasdaq Composite&nbsp;added 236.00 points, or 1.77%, to 13,535.74.</p><p>Volume on U.S. exchanges was 9.30 billion shares, compared with the 10.05 billion average for the full session over the last 20 trading days.</p><p>Retailers were a weak spot. Ralph Lauren Corp&nbsp;dropped 7.01% after it forecast full-year sales below analysts' estimates, making it the largest percentage decliner on the S&amp;P 500,&nbsp;Kohl's Corp&nbsp;slumped 10.17% after warning of a hit to its full-year profit margin from higher labor and shipping costs, as well as selling fewer products at full price.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 28 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Reports</i></b></p><p><a href=\"https://laohu8.com/NW/2137757969\" target=\"_blank\">Applied Materials reports record sales as chip shortage boosts equipment business</a></p><p><a href=\"https://laohu8.com/NW/1129529284\" target=\"_blank\">Ross Stores Earnings, Revenue Beat in Q1</a></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>Wall Street ends to snap 3-day losing streak as technology stocks rise higher</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street ends to snap 3-day losing streak as technology stocks rise higher\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\">2021-05-21 04:56</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 20 (Reuters) - Wall Street's main indexes rebounded on Thursday after a three-day slide, buoyed by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.</p><p>Bitcoin clawed back some lost ground to trade near $40,000 a day after a brutal selloff, helping renew appetite for risk. Crypto-exchange operator Coinbase Global&nbsp;rose 3.83%, while Crypto-miners Riot Blockchain&nbsp;and Marathon Digital Holdings&nbsp;gained 0.17% and 0.83% respectively.</p><p>\"There's a big risk, regulatory risk, to crypto that's not fully appreciated,\" said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. \"The central banks have a monopoly on currency. And so we just think that it's a little bit surprising they haven't enforced that monopoly.\"</p><p>The number of Americans filing for new claims for unemployment benefits fell to 444,000 in the week ended May 15, down for the third straight time, suggesting job growth picked up this month, though companies still are desperate for workers.</p><p>Wall Street's main indexes fell on Wednesday, extending losses since, after minutes from the Federal Reserve's meeting last month indicated some policymakers thought it would be appropriate to discuss easing of crisis-era support, such as tapering bond purchases, in upcoming meetings if the strong economic momentum is sustained.</p><p>\"Right now really there is just <a href=\"https://laohu8.com/S/AONE\">one</a> driver of the market, and that is the Fed and potential timing of tapering and quantitative easing,\" Hatfield added.</p><p>Signs of rising inflation have increased bets that the Federal Reserve may tighten its policy soon, hitting rate-sensitive growth stocks that set the tech-heavy Nasdaq on track for its fifth consecutive weekly drop.</p><p>The Dow Jones Industrial Average&nbsp;rose 188.11 points, or 0.55%, to 34,084.15, the S&amp;P 500    gained 43.44 points, or 1.06%, to 4,159.12 and the Nasdaq Composite&nbsp;added 236.00 points, or 1.77%, to 13,535.74.</p><p>Volume on U.S. exchanges was 9.30 billion shares, compared with the 10.05 billion average for the full session over the last 20 trading days.</p><p>Retailers were a weak spot. Ralph Lauren Corp&nbsp;dropped 7.01% after it forecast full-year sales below analysts' estimates, making it the largest percentage decliner on the S&amp;P 500,&nbsp;Kohl's Corp&nbsp;slumped 10.17% after warning of a hit to its full-year profit margin from higher labor and shipping costs, as well as selling fewer products at full price.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 28 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Reports</i></b></p><p><a href=\"https://laohu8.com/NW/2137757969\" target=\"_blank\">Applied Materials reports record sales as chip shortage boosts equipment business</a></p><p><a href=\"https://laohu8.com/NW/1129529284\" target=\"_blank\">Ross Stores Earnings, Revenue Beat in Q1</a></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137763179","content_text":"May 20 (Reuters) - Wall Street's main indexes rebounded on Thursday after a three-day slide, buoyed by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.Bitcoin clawed back some lost ground to trade near $40,000 a day after a brutal selloff, helping renew appetite for risk. Crypto-exchange operator Coinbase Global rose 3.83%, while Crypto-miners Riot Blockchain and Marathon Digital Holdings gained 0.17% and 0.83% respectively.\"There's a big risk, regulatory risk, to crypto that's not fully appreciated,\" said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. \"The central banks have a monopoly on currency. And so we just think that it's a little bit surprising they haven't enforced that monopoly.\"The number of Americans filing for new claims for unemployment benefits fell to 444,000 in the week ended May 15, down for the third straight time, suggesting job growth picked up this month, though companies still are desperate for workers.Wall Street's main indexes fell on Wednesday, extending losses since, after minutes from the Federal Reserve's meeting last month indicated some policymakers thought it would be appropriate to discuss easing of crisis-era support, such as tapering bond purchases, in upcoming meetings if the strong economic momentum is sustained.\"Right now really there is just one driver of the market, and that is the Fed and potential timing of tapering and quantitative easing,\" Hatfield added.Signs of rising inflation have increased bets that the Federal Reserve may tighten its policy soon, hitting rate-sensitive growth stocks that set the tech-heavy Nasdaq on track for its fifth consecutive weekly drop.The Dow Jones Industrial Average rose 188.11 points, or 0.55%, to 34,084.15, the S&P 500    gained 43.44 points, or 1.06%, to 4,159.12 and the Nasdaq Composite added 236.00 points, or 1.77%, to 13,535.74.Volume on U.S. exchanges was 9.30 billion shares, compared with the 10.05 billion average for the full session over the last 20 trading days.Retailers were a weak spot. Ralph Lauren Corp dropped 7.01% after it forecast full-year sales below analysts' estimates, making it the largest percentage decliner on the S&P 500, Kohl's Corp slumped 10.17% after warning of a hit to its full-year profit margin from higher labor and shipping costs, as well as selling fewer products at full price.Advancing issues outnumbered declining ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favored advancers.The S&P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 66 new highs and 28 new lows.Financial ReportsApplied Materials reports record sales as chip shortage boosts equipment businessRoss Stores Earnings, Revenue Beat in Q1","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":813251573,"gmtCreate":1630207369392,"gmtModify":1676530243654,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/813251573","repostId":"1129129956","repostType":4,"repost":{"id":"1129129956","kind":"news","pubTimestamp":1630201285,"share":"https://ttm.financial/m/news/1129129956?lang=en_US&edition=fundamental","pubTime":"2021-08-29 09:41","market":"us","language":"en","title":"This Unloved Tech Stock Could Make You Rich One Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1129129956","media":"Motley Fool","summary":"The iBuying business is a race to grow larger, and Opendoor is winning.The company is growing at a rate that is two years ahead of what management projected just a year earlier.The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.Real estate iBuying company Opendoor Technologieshas been executing at a high level in the three quarters since coming public via a special purpose acquisition company  merger. In a race to disrupt residential ","content":"<p>Key Points</p>\n<ul>\n <li>The iBuying business is a race to grow larger, and Opendoor is winning.</li>\n <li>The company is growing at a rate that is two years ahead of what management projected just a year earlier.</li>\n <li>The market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.</li>\n</ul>\n<p></p>\n<p>Real estate iBuying company&nbsp;<b>Opendoor Technologies</b>(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.</p>\n<p>Despite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.</p>\n<h3>1. Opendoor is winning the iBuying battle</h3>\n<p>The traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.</p>\n<p>Opendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.</p>\n<p>After seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including&nbsp;<b>Zillow Group</b>&nbsp;and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.</p>\n<p>According to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.</p>\n<h3>2. Revenue growth is ahead of schedule</h3>\n<p>When companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.</p>\n<p>Fast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"</p>\n<p>In other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.</p>\n<h3>3. SPACs are out of favor with the market... opportunity?</h3>\n<p>Investors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.</p>\n<p>Investors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.</p>\n<p>But if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.</p>\n<p>Competitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.</p>\n<h3>Here's the bottom line</h3>\n<p>Real estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"<b>Amazon</b>\" of home buying, but what seems certain is that the company is&nbsp;poised to be a big player&nbsp;in real estate's future if it keeps performing like this.</p>\n<p></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>This Unloved Tech Stock Could Make You Rich One Day</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\">\nThis Unloved Tech Stock Could Make You Rich One Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-29 09:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OPEN":"Opendoor Technologies Inc"},"source_url":"https://www.fool.com/investing/2021/08/28/this-unloved-tech-stock-may-make-you-rich-one-day/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129129956","content_text":"Key Points\n\nThe iBuying business is a race to grow larger, and Opendoor is winning.\nThe company is growing at a rate that is two years ahead of what management projected just a year earlier.\nThe market is bearish on virtually all SPACs, making Opendoor a bargain that could eventually bring huge returns.\n\n\nReal estate iBuying company Opendoor Technologies(NASDAQ:OPEN)has been executing at a high level in the three quarters since coming public via a special purpose acquisition company (SPAC) merger. In a race to disrupt residential real estate, one of the largest markets in the world, Opendoor's long-term potential could bring big returns for patient investors.\nDespite the upside, the market hasn't yet appreciated Opendoor's accomplishments; the stock is down more than 50% from its highs. There are three important clues that Opendoor could be a compelling investment idea for bold investors.\n1. Opendoor is winning the iBuying battle\nThe traditional home-buying process in the United States is slow and handled by multiple parties, including agents, lawyers, inspectors, and bankers. This creates a lot of back and forth paperwork and drags the process out to more than 30 days, on average.\nOpendoor pioneered the concept of \"iBuying,\" where the buying and selling of a house are digitized, and a company like Opendoor works directly with sellers to provide them with a cash offer and a digital closing process. The company then resells the house on the market. The iBuying process cuts out agents and some of the fees associated with traditional closings, such as agent commissions. Opendoor then resells the house on the market and charges a service fee of up to 5% on the transaction.\nAfter seeing Opendoor steadily grow with its iBuying concept, competitors have also begun to offer iBuying services, including Zillow Group and Offerpad. Because of how capital intensive the business is (a lot of money is needed to buy and sell thousands of houses) and how price competitive the housing market is, these companies are racing to get as big as possible. As the companies buy and sell more homes, they have the ability to become more profitable by leveraging outsourced contractors to save money, and its pricing algorithm improves as it sees more transactions.\nAccording to iBuyerStats, a website dedicated to tracking the competitors found in iBuying, Opendoor has consistently had the most housing inventory available for sale. It currently has roughly 3,300 houses for sale, 53% more than Zillow and more than four times as many as Offerpad.\n2. Revenue growth is ahead of schedule\nWhen companies go public viaSPACmerger, they lay out a public presentation of their business, often including long-term growth projections. Opendoor laid out its pre-merger investor presentation about a year ago, in September 2020.\nFast forward to the company's recent 2021 Q2 earnings call. CEO and founder Eric Wu said on the earnings call, \"... based on our current progress, our second half revenue run rate is on track to exceed our 2023 target, a full two years ahead of plan.\"\nIn other words, if Opendoor were to operate for 12 months at the level the business currently is, it would surpass the $9.8 billion in revenue it projected for 2023. This is an underlooked point because if Opendoor is already two years ahead of its original growth curve, where will it be by 2023? Sure, a dip in the housing market or other events could disrupt the company's speed of growth, but Opendoor is showing the world that the business is operating at a high level.\n3. SPACs are out of favor with the market... opportunity?\nInvestors have overlooked this strong performance, focusing instead on the fact that Opendoor joined the public market via SPAC merger. It has hardly mattered what operating results or earnings have looked like for former SPACs; the stock market has been selling off virtually all SPAC-based stocks for several months now.\nInvestors have been spooked by a handful of \"bad apple\" companies turning up fraudulent, and other companies have wildly missed on the projections they made before going public. These instances have burned those involved, and investors have taken a much more cautious attitude toward SPACs as a whole.\nBut if companies like Opendoor keep blowing away estimates, the market is likely to come around eventually. When it does, the stock price could move aggressively. If we take Eric Wu's comments about revenue and assume that Opendoor does sales of $10 billion in 2022 (in other words, Opendoor stops growing and maintains its current pace over the following year), the stock currently trades at aprice-to-sales(P/S) ratio of just 1.0. That's a bargain-bin valuation.\nCompetitor Zillow Group trades at a P/S ratio of more than 3, reflecting Opendoor's discount as a former SPAC.\nHere's the bottom line\nReal estate is a huge market, and it's a complicated industry because of the clash between traditional agents and the \"new kids\" on the block trying to bring technology into homebuying. It's too early to say that Opendoor will become the \"Amazon\" of home buying, but what seems certain is that the company is poised to be a big player in real estate's future if it keeps performing like this.","news_type":1,"symbols_score_info":{"OPEN":0.9}},"isVote":1,"tweetType":1,"viewCount":3722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889803872,"gmtCreate":1631123217996,"gmtModify":1676530474644,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/889803872","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","kind":"news","pubTimestamp":1631090918,"share":"https://ttm.financial/m/news/1154837170?lang=en_US&edition=fundamental","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","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 Endured a Rocky Day. What's Behind the Selloff</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 Endured a Rocky Day. What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1,"symbols_score_info":{"COIN":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889803177,"gmtCreate":1631123155499,"gmtModify":1676530474644,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889803177","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","kind":"news","pubTimestamp":1631090918,"share":"https://ttm.financial/m/news/1154837170?lang=en_US&edition=fundamental","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","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 Endured a Rocky Day. What's Behind the Selloff</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 Endured a Rocky Day. What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1,"symbols_score_info":{"COIN":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2830,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813353357,"gmtCreate":1630136874179,"gmtModify":1676530233355,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/813353357","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":1254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818727813,"gmtCreate":1630451820732,"gmtModify":1676530304647,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818727813","repostId":"2164869989","repostType":4,"repost":{"id":"2164869989","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":1630442091,"share":"https://ttm.financial/m/news/2164869989?lang=en_US&edition=fundamental","pubTime":"2021-09-01 04:34","market":"us","language":"en","title":"Wall Street's subdued finish fails to detract from strong August","url":"https://stock-news.laohu8.com/highlight/detail?id=2164869989","media":"Reuters","summary":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\n","content":"<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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>Wall Street's subdued finish fails to detract from strong August</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street's subdued finish fails to detract from strong August\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\">2021-09-01 04:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","DXD":"两倍做空道琼30指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares",".SPX":"S&P 500 Index","SH":"做空标普500-Proshares","QQQ":"纳指100ETF","SDOW":"三倍做空道指30ETF-ProShares",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","DJX":"1/100道琼斯","UDOW":"三倍做多道指30ETF-ProShares",".IXIC":"NASDAQ Composite","SPXU":"三倍做空标普500ETF-ProShares","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","PSQ":"做空纳斯达克100指数ETF-ProShares","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164869989","content_text":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\nIndexes down: Dow 0.11%, S&P 0.13%, Nasdaq 0.04%\nAll main indexes post solid monthly performances\n\nAug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.\nHaving all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.\nFor the S&P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.\nThe performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.\n\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.\nWhile a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.\nU.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.\nA Reuters poll last week showed strategists believe the S&P 500 is likely to end 2021 not far from its current level.\n\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.\nTechnology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index\nwas among the worst performers on Tuesday.\nShares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.\nSeven of the 11 major S&P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.\nOn Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite dropped 6.66 points, or 0.04%, to 15,259.24.\nKansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co to proceed with its $29 billion proposed acquisition of its U.S. peer.\nVolume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"IVV":0.9,"SDOW":0.9,"PSQ":0.9,"UPRO":0.9,".SPX":0.9,"DOG":0.9,"SH":0.9,"MNQmain":0.9,".IXIC":0.9,"QLD":0.9,"SSO":0.9,"SQQQ":0.9,"SPXU":0.9,"TQQQ":0.9,"DDM":0.9,"ESmain":0.9,"NQmain":0.9,"SDS":0.9,".DJI":0.9,"QID":0.9,"OEX":0.9,"QQQ":0.9,"OEF":0.9,"DJX":0.9,"UDOW":0.9,"DXD":0.9}},"isVote":1,"tweetType":1,"viewCount":3369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811147384,"gmtCreate":1630302705748,"gmtModify":1676530262209,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/811147384","repostId":"2163776380","repostType":4,"isVote":1,"tweetType":1,"viewCount":3426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885335012,"gmtCreate":1631755999636,"gmtModify":1676530626647,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/885335012","repostId":"1138329020","repostType":2,"repost":{"id":"1138329020","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631749342,"share":"https://ttm.financial/m/news/1138329020?lang=en_US&edition=fundamental","pubTime":"2021-09-16 07:42","market":"hk","language":"zh","title":"Last night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard","url":"https://stock-news.laohu8.com/highlight/detail?id=1138329020","media":"老虎资讯综合","summary":"摘要：美三大指数集体收涨，油气股涨幅居前；美国WTI原油收高3.1%，天然气再创7年半新高；美国众议院筹款委员会投票推进税改计划；微软宣布600亿美元股票回购计划；生物制药公司Dice Therape","content":"<p>Abstract: The three major indices in the United States closed up collectively, with oil and gas stocks among the top gainers; U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 1/2-year high; U.S. House Ways and Means Committee votes to advance tax reform plan; Microsoft Announces $60 Billion Stock Buyback Program; Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing. Overseas markets</p><p><b>1. The three major U.S. indices collectively closed higher, with oil and gas stocks among the top gainers</b></p><p>U.S. stocks closed higher on Wednesday, with major indexes rebounding after back-to-back losses. U.S. manufacturing output grew 0.2% in August less than expected. The market is still weighing the U.S. August CPI data and is worried that the Delta xenovirus strain will affect the global economic recovery. By the close, the Dow was up 0.68%, the S&P 500 was up 0.85% and the Nasdaq was up 0.82%.</p><p>Oil and gas stocks were among the top gainers,<a href=\"https://laohu8.com/S/MUR\">Murphy Oil</a>、<a href=\"https://laohu8.com/S/CPE\">Caron Petroleum</a>It rose by more than 8%, and Devin Energy rose by more than 7%.</p><p><b>2. Most popular Chinese stocks closed down on Wednesday, and education stocks generally fell</b></p><p>Most popular Chinese stocks closed down on Wednesday, and education stocks were generally lower.<a href=\"https://laohu8.com/S/NTES\">Netease</a>Youdao fell nearly 9%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>fell by more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Down 4%,<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell by more than 2%.</p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up nearly 1%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>New Oriental,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Over 4%, Fog Core Technology fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BEKE\">Shell</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>、<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars rose nearly 0.4%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell nearly 1%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 0.2%.</p><p><b>3. British inflation rate reached a 9-year high in August, and European stocks fell across the board</b></p><p>Surging inflation in the UK has weighed on the main indexes of European stocks. Major European stock indexes broadly closed lower on Wednesday, with Germany's DAX index falling 0.66% and France's CAC40 index falling 1.04%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.23%, and the Euro Stoxx 50 fell 1.08%.</p><p><b>4. U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 and a half-year high</b></p><p><a href=\"https://laohu8.com/S/USEG\">U.S. Energy</a>The Information Administration reported that the supply of crude oil from the United States decreased by 6.4 million barrels last week, which supported oil prices. Natural gas futures prices hit another 7 1/2-year high. In the end, WTIOctober futures rose $2.15, or about 3.1%, to close at $72.61 a barrel, the highest closing price since July 30. Natural gas futures similarly rose and reached their highest close since February 2014. October natural gas futures on the New York Stock Exchange rose 20 cents, or 3.8%, to close at $5.46 per million British thermal units.</p><p><b>5. Gold futures closed down 0.7% on Wednesday, ending two consecutive gains</b></p><p>Gold futures fell for the first time in three trading days on Wednesday amid uncertainty over the Federal Reserve's tapering of stimulus, almost completely giving up Tuesday's gains. In the end, the price of gold futures for December delivery on the NYSE fell $12.30, or 0.7%, to close at $1,794.80 an ounce.</p><p>International macro</p><p><b>1. U.S. House Ways and Means Committee votes to advance tax reform plan</b></p><p>The U.S. House Ways and Means Committee voted to advance plans to raise taxes on wealthy Americans and corporations as part of a Democratic \"budget reconciliation\" spending bill.</p><p><b>2. The European Central Bank warns investors not to focus on the size of bond purchases</b></p><p>Days after ECB officials decided to slow the pace of asset purchases in the fourth quarter, Philip Lane, the bank's chief economist, said investors should not focus solely on the size of asset purchases when assessing ECB monetary policy.</p><p><b>3. U.S. crude oil inventories continued to decline due to the hurricane, reaching the lowest level since September 2019</b></p><p>U.S. crude oil inventories fell to their lowest level since September 2019, in part as Gulf Coast supplies dwindled to pre-COVID lows. Undoubtedly, this was mainly caused by Hurricane Ida. Nearly three weeks after the passing of the hurricane, affected producers are still recovering, with Gulf Coast production recovering only 60%.</p><p><b>4. For the first time since 1950! Britain may fall out of Germany's top 10 trading partners</b></p><p>In 2021, the UK is likely to fall out of Germany's top 10 trading partners for the first time since 1950, according to the latest figures published by the Federal Statistical Office. Trade between the two countries fell 2.3 percent to 48.3bn euros in the first half of this year, sending Britain down to the 11th most important trading partner of Germany. Among them, German import trade from the UK fell by 11 percent to just 16 billion euros. Specifically, the food industry declined by 38.5%, textiles by 53%, and pharmaceutical products by 47%.</p><p><b>5. Dalio, founder of Bridgewater Fund: \"Cash is still garbage\" The most important thing for investors is investment diversification</b></p><p>Cash is still garbage, says Dalio. The advantage that the stock market currently enjoys will gradually diminish. The most important thing for investors is to diversify between currencies, asset classes and countries, not just within the stock market. Dalio has some investment in Bitcoin, saying that \"the percentage ratio is small\" compared to his investment in gold, and that his investment in gold is \"the percentage ratio is relatively small\" compared to other asset classes. Dalio currently holds some Bitcoin and said it could consider using cryptocurrency as one of the alternatives to cash and some financial assets.</p><p><b>6. British Prime Minister Johnson reshuffles his cabinet</b></p><p>Former International Trade Secretary Elizabeth Truss has been appointed Foreign Secretary. Former foreign secretary Dominic Raab was transferred to deputy prime minister, chancellor and justice secretary, in what the British media called a \"demotion\". Anne-Marie Trevelyan, former Secretary of State for Business, took over as Secretary of State for International Trade. Three other ministers were dismissed.</p><p><b>7. Bank of Japan Governor Haruhiko Kuroda: Monetary policy will be further loosened if necessary</b></p><p>Bank of Japan Governor Haruhiko Kuroda said the Bank of Japan would further ease monetary policy, such as lowering interest rates, if necessary. The Bank of Japan is committed to achieving its 2% inflation target as early as possible through as flexible and loose monetary policy as possible.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167923405\" target=\"_blank\"><b>Microsoft also made this important personnel appointment as it announced a $60 billion share buyback program</b></a></p><p>Microsoft has made a big announcement — the approval of a share buyback program of up to $60 billion. Microsoft said the buybacks have no deadline and could be terminated at any time, and the new Dividend of $0.62 per share increased by 6 cents from the previous quarter's Dividend. Microsoft's last buyback program was in September 2019, when it was $40 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167903285\" target=\"_blank\"><b>Pfizer \"forced the palace\" FDA to release the third shot Israeli data shows that the protection rate can be restored to 95%</b></a></p><p>According to a 52-page report submitted by Pfizer to the U.S. Food and Drug Administration (FDA), clinical data in Israel showed that the third dose of Pfizer's vaccine restored infection protection to 95% six months after the second dose. At present, the FDA is not only facing pressure from Pfizer in reviewing booster shots. White House chief medical adviser Fauci has said that the FDA may approve the Pfizer COVID-19 vaccine booster shot by September 20th.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167599064\" target=\"_blank\"><b>American version of \"Hungry\" DoorDash takes New York City to court: does not want to share user data with restaurants</b></a></p><p>US takeaway delivery company DoorDash today reportedly filed a lawsuit against New York City over a new law requiring courier companies to share more customer data with restaurants.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167543599\" target=\"_blank\"><b>Reddit's advertising ambitions are beginning to pay off: revenue has doubled to at least $350 million this year</b></a></p><p>Shares of companies like GameStop and AMC reportedly soared earlier this year thanks in large part to a boost from Reddit, a 16-year-old online news aggregator and discussion community. This reflects the audience size of Reddit, which reached 430 million monthly users worldwide, close to the 454 million monthly users of picture social network Pinterest, according to the latest document.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167592152\" target=\"_blank\"><b>ETF Issuer Ranking Ark Falls Out of Top 10! Female Stock God: Economic Recovery Is Not As Expected</b></a></p><p>On Wednesday (Sept. 15), \"female stock goddess\" Cathy Wood's Ark Investment is slipping among U.S. ETF issuers, and Ark now has about $42.4 billion in ETFs, ranking 11th. Ark entered the top 10 earlier this year due to massive inflows of investors, but just as Ark's $21 billion flagship<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>(ticker ARKK) shines, so does competition. With Ark's assets down slightly, rival WisdomTree is already ahead, meanwhile industry newcomer Dimensional Fund Advisors follows Ark, with a gap of less than $3 billion between the two issuers.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167921590\" target=\"_blank\"><b>Coinbase is planning a foray into crypto derivatives</b></a></p><p>Coinbase, the nation's largest cryptocurrency exchange, on Wednesday submitted an application to the National Futures Association to register as a Futures Commission merchant. Cryptocurrency futures and options have long been a glaring shortfall in Coinbase's portfolio, at the same time that Bitcoin derivatives have grown into a huge market. Earlier this year, Coinbase also acquired Skew, an analytics firm known for tracking the derivatives market.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167630594\" target=\"_blank\"><b>Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing</b></a></p><p>Dice Therapeutics' U.S. IPO surged 117% to $36.89 on its first day. The IPO offering price was previously given at $17 per share.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Securities, SVB Leerink and Evercore ISI are the underwriters for the listing.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning: The three major indices closed up collectively! Whether this round of amendments is terminated in this regard\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-09-16 07:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Abstract: The three major indices in the United States closed up collectively, with oil and gas stocks among the top gainers; U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 1/2-year high; U.S. House Ways and Means Committee votes to advance tax reform plan; Microsoft Announces $60 Billion Stock Buyback Program; Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing. Overseas markets</p><p><b>1. The three major U.S. indices collectively closed higher, with oil and gas stocks among the top gainers</b></p><p>U.S. stocks closed higher on Wednesday, with major indexes rebounding after back-to-back losses. U.S. manufacturing output grew 0.2% in August less than expected. The market is still weighing the U.S. August CPI data and is worried that the Delta xenovirus strain will affect the global economic recovery. By the close, the Dow was up 0.68%, the S&P 500 was up 0.85% and the Nasdaq was up 0.82%.</p><p>Oil and gas stocks were among the top gainers,<a href=\"https://laohu8.com/S/MUR\">Murphy Oil</a>、<a href=\"https://laohu8.com/S/CPE\">Caron Petroleum</a>It rose by more than 8%, and Devin Energy rose by more than 7%.</p><p><b>2. Most popular Chinese stocks closed down on Wednesday, and education stocks generally fell</b></p><p>Most popular Chinese stocks closed down on Wednesday, and education stocks were generally lower.<a href=\"https://laohu8.com/S/NTES\">Netease</a>Youdao fell nearly 9%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>fell by more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Down 4%,<a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It fell by more than 2%.</p><p>In terms of other Chinese concept stocks,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up nearly 1%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>New Oriental,<a href=\"https://laohu8.com/S/ATHM\">Autohome</a>Over 4%, Fog Core Technology fell nearly 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BEKE\">Shell</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/IQ\">iQIYI</a>、<a href=\"https://laohu8.com/S/JD\">Jingdong</a>It fell by more than 1%. Among new energy vehicle stocks,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Cars rose nearly 0.4%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell nearly 1%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 0.2%.</p><p><b>3. British inflation rate reached a 9-year high in August, and European stocks fell across the board</b></p><p>Surging inflation in the UK has weighed on the main indexes of European stocks. Major European stock indexes broadly closed lower on Wednesday, with Germany's DAX index falling 0.66% and France's CAC40 index falling 1.04%.<a href=\"https://laohu8.com/S/VUKE.UK\">FTSE 100 UK</a>The index fell 0.23%, and the Euro Stoxx 50 fell 1.08%.</p><p><b>4. U.S. WTI crude oil closed 3.1% higher, natural gas hit another 7 and a half-year high</b></p><p><a href=\"https://laohu8.com/S/USEG\">U.S. Energy</a>The Information Administration reported that the supply of crude oil from the United States decreased by 6.4 million barrels last week, which supported oil prices. Natural gas futures prices hit another 7 1/2-year high. In the end, WTIOctober futures rose $2.15, or about 3.1%, to close at $72.61 a barrel, the highest closing price since July 30. Natural gas futures similarly rose and reached their highest close since February 2014. October natural gas futures on the New York Stock Exchange rose 20 cents, or 3.8%, to close at $5.46 per million British thermal units.</p><p><b>5. Gold futures closed down 0.7% on Wednesday, ending two consecutive gains</b></p><p>Gold futures fell for the first time in three trading days on Wednesday amid uncertainty over the Federal Reserve's tapering of stimulus, almost completely giving up Tuesday's gains. In the end, the price of gold futures for December delivery on the NYSE fell $12.30, or 0.7%, to close at $1,794.80 an ounce.</p><p>International macro</p><p><b>1. U.S. House Ways and Means Committee votes to advance tax reform plan</b></p><p>The U.S. House Ways and Means Committee voted to advance plans to raise taxes on wealthy Americans and corporations as part of a Democratic \"budget reconciliation\" spending bill.</p><p><b>2. The European Central Bank warns investors not to focus on the size of bond purchases</b></p><p>Days after ECB officials decided to slow the pace of asset purchases in the fourth quarter, Philip Lane, the bank's chief economist, said investors should not focus solely on the size of asset purchases when assessing ECB monetary policy.</p><p><b>3. U.S. crude oil inventories continued to decline due to the hurricane, reaching the lowest level since September 2019</b></p><p>U.S. crude oil inventories fell to their lowest level since September 2019, in part as Gulf Coast supplies dwindled to pre-COVID lows. Undoubtedly, this was mainly caused by Hurricane Ida. Nearly three weeks after the passing of the hurricane, affected producers are still recovering, with Gulf Coast production recovering only 60%.</p><p><b>4. For the first time since 1950! Britain may fall out of Germany's top 10 trading partners</b></p><p>In 2021, the UK is likely to fall out of Germany's top 10 trading partners for the first time since 1950, according to the latest figures published by the Federal Statistical Office. Trade between the two countries fell 2.3 percent to 48.3bn euros in the first half of this year, sending Britain down to the 11th most important trading partner of Germany. Among them, German import trade from the UK fell by 11 percent to just 16 billion euros. Specifically, the food industry declined by 38.5%, textiles by 53%, and pharmaceutical products by 47%.</p><p><b>5. Dalio, founder of Bridgewater Fund: \"Cash is still garbage\" The most important thing for investors is investment diversification</b></p><p>Cash is still garbage, says Dalio. The advantage that the stock market currently enjoys will gradually diminish. The most important thing for investors is to diversify between currencies, asset classes and countries, not just within the stock market. Dalio has some investment in Bitcoin, saying that \"the percentage ratio is small\" compared to his investment in gold, and that his investment in gold is \"the percentage ratio is relatively small\" compared to other asset classes. Dalio currently holds some Bitcoin and said it could consider using cryptocurrency as one of the alternatives to cash and some financial assets.</p><p><b>6. British Prime Minister Johnson reshuffles his cabinet</b></p><p>Former International Trade Secretary Elizabeth Truss has been appointed Foreign Secretary. Former foreign secretary Dominic Raab was transferred to deputy prime minister, chancellor and justice secretary, in what the British media called a \"demotion\". Anne-Marie Trevelyan, former Secretary of State for Business, took over as Secretary of State for International Trade. Three other ministers were dismissed.</p><p><b>7. Bank of Japan Governor Haruhiko Kuroda: Monetary policy will be further loosened if necessary</b></p><p>Bank of Japan Governor Haruhiko Kuroda said the Bank of Japan would further ease monetary policy, such as lowering interest rates, if necessary. The Bank of Japan is committed to achieving its 2% inflation target as early as possible through as flexible and loose monetary policy as possible.</p><p>Company News</p><p><b>1、</b><a href=\"https://laohu8.com/NW/2167923405\" target=\"_blank\"><b>Microsoft also made this important personnel appointment as it announced a $60 billion share buyback program</b></a></p><p>Microsoft has made a big announcement — the approval of a share buyback program of up to $60 billion. Microsoft said the buybacks have no deadline and could be terminated at any time, and the new Dividend of $0.62 per share increased by 6 cents from the previous quarter's Dividend. Microsoft's last buyback program was in September 2019, when it was $40 billion.</p><p><b>2、</b><a href=\"https://laohu8.com/NW/2167903285\" target=\"_blank\"><b>Pfizer \"forced the palace\" FDA to release the third shot Israeli data shows that the protection rate can be restored to 95%</b></a></p><p>According to a 52-page report submitted by Pfizer to the U.S. Food and Drug Administration (FDA), clinical data in Israel showed that the third dose of Pfizer's vaccine restored infection protection to 95% six months after the second dose. At present, the FDA is not only facing pressure from Pfizer in reviewing booster shots. White House chief medical adviser Fauci has said that the FDA may approve the Pfizer COVID-19 vaccine booster shot by September 20th.</p><p><b>3、</b><a href=\"https://laohu8.com/NW/2167599064\" target=\"_blank\"><b>American version of \"Hungry\" DoorDash takes New York City to court: does not want to share user data with restaurants</b></a></p><p>US takeaway delivery company DoorDash today reportedly filed a lawsuit against New York City over a new law requiring courier companies to share more customer data with restaurants.</p><p><b>4、</b><a href=\"https://laohu8.com/NW/2167543599\" target=\"_blank\"><b>Reddit's advertising ambitions are beginning to pay off: revenue has doubled to at least $350 million this year</b></a></p><p>Shares of companies like GameStop and AMC reportedly soared earlier this year thanks in large part to a boost from Reddit, a 16-year-old online news aggregator and discussion community. This reflects the audience size of Reddit, which reached 430 million monthly users worldwide, close to the 454 million monthly users of picture social network Pinterest, according to the latest document.</p><p><b>5、</b><a href=\"https://laohu8.com/NW/2167592152\" target=\"_blank\"><b>ETF Issuer Ranking Ark Falls Out of Top 10! Female Stock God: Economic Recovery Is Not As Expected</b></a></p><p>On Wednesday (Sept. 15), \"female stock goddess\" Cathy Wood's Ark Investment is slipping among U.S. ETF issuers, and Ark now has about $42.4 billion in ETFs, ranking 11th. Ark entered the top 10 earlier this year due to massive inflows of investors, but just as Ark's $21 billion flagship<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>(ticker ARKK) shines, so does competition. With Ark's assets down slightly, rival WisdomTree is already ahead, meanwhile industry newcomer Dimensional Fund Advisors follows Ark, with a gap of less than $3 billion between the two issuers.</p><p><b>6、</b><a href=\"https://laohu8.com/NW/2167921590\" target=\"_blank\"><b>Coinbase is planning a foray into crypto derivatives</b></a></p><p>Coinbase, the nation's largest cryptocurrency exchange, on Wednesday submitted an application to the National Futures Association to register as a Futures Commission merchant. Cryptocurrency futures and options have long been a glaring shortfall in Coinbase's portfolio, at the same time that Bitcoin derivatives have grown into a huge market. Earlier this year, Coinbase also acquired Skew, an analytics firm known for tracking the derivatives market.</p><p><b>7、</b><a href=\"https://laohu8.com/NW/2167630594\" target=\"_blank\"><b>Biopharmaceutical company Dice Therapeutics surged 117% on its first day of listing</b></a></p><p>Dice Therapeutics' U.S. IPO surged 117% to $36.89 on its first day. The IPO offering price was previously given at $17 per share.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Securities, SVB Leerink and Evercore ISI are the underwriters for the listing.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","USO":"美国原油ETF","DGAZ":"三倍做空天然气ETN(VelocityShares)","UCO":"二倍做多彭博原油ETF","UGAZ":"三倍做多天然气ETN(VelocityShares)","UNG":"美国天然气基金","DDG":"ProShares做空石油与天然气ETF","SCO":"二倍做空彭博原油指数ETF","DWT":"三倍做空原油ETN"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138329020","content_text":"摘要：美三大指数集体收涨，油气股涨幅居前；美国WTI原油收高3.1%，天然气再创7年半新高；美国众议院筹款委员会投票推进税改计划；微软宣布600亿美元股票回购计划；生物制药公司Dice Therapeutics上市首日暴涨117%。\n\n海外市场\n1、美三大指数集体收涨，油气股涨幅居前\n美股周三收高，主要股指在连续下跌之后反弹。美国8月制造业产出增长0.2%不及预期。市场仍在权衡美国8月CPI数据，并担忧德尔塔异毒株影响全球经济复苏。截至收盘，道琼斯指数涨0.68%，标普500指数涨0.85%，纳斯达克指数涨0.82%。\n油气股涨幅居前，墨菲石油、卡隆石油涨超8%，戴文能源涨超7%。\n2、热门中概股周三收盘多数下滑 教育股普遍走低\n热门中概股周三收盘多数下滑，教育股普遍走低，网易有道跌近9%，好未来跌超6%，新东方跌4%，高途跌超2%。\n其他中概股方面，百度涨近1%，哔哩哔哩、新东方、汽车之家跌超4%，雾芯科技跌近3%，拼多多、贝壳跌超2%，阿里巴巴、爱奇艺、京东跌超1%。新能源汽车股中，蔚来汽车涨近0.4%，小鹏汽车跌近1%，理想汽车跌0.2%。\n3、英国8月通胀率达9年新高 欧股全线下跌\n英国通胀率飙升，使欧洲股市的主要指数承受压力。周三欧股主要股指普遍收跌，德国DAX指数跌0.66%，法国CAC40指数跌1.04%，英国富时100指数跌0.23%，欧洲斯托克50指数跌1.08%。\n4、美国WTI原油收高3.1% 天然气再创7年半新高\n美国能源信息署报告产美国上周原油供应减少640万桶，令油价得到支撑。天然气期货价格再创7年半新高。最终，WTI10月期货价格上涨2.15美元，涨幅约3.1%，收于每桶72.61美元，创7月30日以来的最高收盘价。天然气期货同样上涨，并再创2014年2月以来的最高收盘价。纽交所10月天然气期货价额上涨20美分，涨幅3.8%，收于每百万英热单位5.46美元。\n5、黄金期货周三收跌0.7% 结束两连涨\n因美联储缩减刺激政策的不确定性，黄金期货周三录得3个交易日来的首次下跌，几乎完全回吐了周二的涨幅。最终，纽交所12月交割的黄金期货价格下跌12.30美元，跌幅0.7%，收于每盎司1794.80美元。\n国际宏观\n1、美国众议院筹款委员会投票推进税改计划\n美国众议院筹款委员会投票推进对美国富人和公司增税的计划，作为民主党“预算和解”开支法案的一部分。\n2、欧洲央行告诫投资者不要专注于债券购买规模\n在欧洲央行官员决定第四季度放慢资产购买步伐的几天后，该行首席经济学家Philip Lane表示，投资者在评估欧洲央行的货币政策时，不应该单纯地关注资产购买规模。\n3、美国原油库存受飓风影响持续下降 达2019年9月以来最低水平\n全美原油库存降至2019年9月以来最低水平，部分原因是墨西哥湾沿岸供应减少到新冠疫情前低点。毋庸置疑，这主要是飓风“艾达”所致。距离飓风过境时隔近三周，遭受影响的生产商仍在恢复当中，墨西哥湾沿岸产量仅恢复了60%。\n4、1950年以来首次！英国或跌出德国十大贸易伙伴国名单\n根据德国联邦统计局公布的最新数据，2021年，英国可能将自1950年以来首次跌出德国十大贸易伙伴国之列。两国间的贸易额在今年上半年下降2.3%至483亿欧元，由此英国跌到了德国重要贸易伙伴国的第十一位。其中，德国从英国的进口贸易下降了11%，仅为160亿欧元。具体来看，食品行业下降了38.5%，纺织品下降了53%，医药产品下降了47%。\n5、桥水基金创始人达利欧：“现金仍然是垃圾” 对投资者而言最关键是投资多元化\n达利欧表示，现金仍然是垃圾。股市目前享有的优势会逐步减少。对投资者而言，最重要的是在不同货币、资产类别和国家之间进行多元化分配，不只是在股市内部。达利欧对比特币有一定的投资，说相比于他对黄金的投资额，“百分比比率较小”，而他对黄金的投资与其他资产类别相比“百分比比率相对较小”。达利欧目前持有一些比特币，并表示可以考虑将加密货币用作现金和部分金融资产的替代品之一。\n6、英国首相约翰逊改组内阁\n原国际贸易大臣伊丽莎白·特拉斯被任命为外交大臣。原外交大臣多米尼克·拉布转任副首相、大法官和司法大臣，英国媒体称之为“降职”。原商业国务大臣安妮-玛丽·特里维廉接任国际贸易大臣职务。此外还有三位大臣遭解职。\n7、日本央行行长黑田东彦：必要时将进一步放松货币政策\n日本央行行长黑田东彦表示，如有必要，日本央行将进一步放松货币政策，如降低利率。日本央行致力于通过尽可能灵活、宽松的货币政策，尽早实现2%的通胀目标。\n公司新闻\n1、微软宣布600亿美元股票回购计划 还做了这一重要人事任命\n微软宣布了一个重磅消息——批准一项高达600亿美元的股份回购计划。微软表示，回购没有截止日期，可能随时终止，每股0.62美元的新股息比上一季度的股息增加了6美分。微软上一次回购计划是在2019年9月，当时规模是400亿美元。\n2、辉瑞“逼宫”FDA放行第三针 以色列数据显示保护率能恢复到95%\n根据辉瑞公司提交给美国食品和药物管理局（FDA）一份长达52页的报告，以色列的临床数据显示，在接种第二剂疫苗6个月后，接种第三剂辉瑞疫苗可将感染保护率恢复到95%。目前FDA在审核加强针的方面不仅面临辉瑞公司的压力。白宫首席医学顾问福奇曾表示，FDA可能在9月20日前批准辉瑞新冠疫苗加强针。\n3、美版“饿了么”DoorDash将纽约市告上法庭：不想与餐厅共享用户数据\n据报道，美国外卖配送公司DoorDash今日对纽约市提起诉讼，原因是一项新法律要求快递公司向餐厅分享更多客户数据。\n4、美国社区论坛Reddit广告雄心初见成效：今年营收至少翻翻至3.5亿美元\n据报道，今年早些时候GameStop和AMC等公司股价的飙升，在很大程度上得益于拥有16年历史的在线新闻聚合和讨论社区Reddit的推动。这反映出了Reddit的受众规模，最新一份文件显示，Reddit在全球的月度用户达到4.3亿，接近于图片社交网络Pinterest的4.54亿月度用户。\n5、ETF发行商排名方舟跌出前10！女股神: 经济复苏不如预期\n周三（9月15日），“女股神”凯茜伍德的方舟投资在美国ETF发行商中的排名正在下滑，方舟目前拥有约424亿美元的ETF，排名第11。由于投资者大量的资金流入，方舟在今年早些时候进入了前10名，但是，正当方舟价值210亿美元的旗舰ARK Innovation ETF（股票代码ARKK）大放异彩时，竞争也在加剧。由于方舟的资产略有下降，竞争对手WisdomTree已经领先，与此同时，行业新人Dimensional Fund Advisors紧随方舟之后，两家发行商之间的差距不到30亿美元。\n6、Coinbase正计划进军加密货币衍生品领域\n美国最大的加密货币交易所Coinbase周三向美国全国期货协会提交了注册为期货委员会商户的申请。加密货币期货和期权长期以来一直是Coinbase产品组合中的一个明显不足之处，与此同时比特币衍生品已成长为一个巨大的市场。今年早些时候，Coinbase还收购了以跟踪衍生品市场而闻名的分析公司Skew。\n7、生物制药公司Dice Therapeutics上市首日暴涨117%\nDice Therapeutics美国IPO首日暴涨117%，报36.89美元。此前给出的IPO发行价为每股17美元。美国银行证券、SVB Leerink和 Evercore ISI是此次上市的承销商。","news_type":1,"symbols_score_info":{"UWTIF":0.9,"SCO":0.9,"DWTIF":0.9,"UGAZ":0.9,"QGmain":0.9,"BZmain":0.9,"UCO":0.9,"USO":0.9,"DUG":0.9,"NGmain":0.9,"UNG":0.9,"DWT":0.9,"DDG":0.9,"QMmain":0.9,"DGAZ":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817952059,"gmtCreate":1630900324771,"gmtModify":1676530416293,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817952059","repostId":"1103617448","repostType":2,"repost":{"id":"1103617448","kind":"news","pubTimestamp":1630893800,"share":"https://ttm.financial/m/news/1103617448?lang=en_US&edition=fundamental","pubTime":"2021-09-06 10:03","market":"sh","language":"zh","title":"The Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103617448","media":"海清FICC频道","summary":"9月2日晚，中央宣布将深化新三板改革，设立北京证券交易所，打造服务创新型中小企业主阵地。\n一、设立北京证券交易所是大国博弈、“科技兴邦”的战略抉择\n当前，一场以数字经济、芯片、人工智能、新能源技术、太","content":"<p>On the evening of September 2nd, the central government announced that it would deepen the reform of the New Third Board, set up the Beijing Stock Exchange, and build the main position of serving innovative small and medium-sized enterprises.</p><p><b>First, the establishment of the Beijing Stock Exchange is a strategic choice of the game between great powers and \"prospering the country by science and technology\"</b></p><p>At present, a scientific and technological revolution led by digital economy, chips, artificial intelligence, new energy technology, space exploration technology and biomedical technology is coming.</p><p><b>In China's high-quality economic development, industrial transformation and upgrading and global industrial competition, the competition of scientific and technological innovation is the core.</b>Whether China can gain a first-mover advantage in this scientific and technological competition not only determines whether China can solve the short-term problem of \"stuck neck\" of key technologies, but also determines the long-term problem of who will be the \"leader\" of the global industrial economy in the future and whose century will be in the 21st century.</p><p><b>From the perspective of the rise of great powers in history, science and technology is the fundamental driving force:</b></p><p>With the help of the leading advantage of steam engine, Britain took the lead in starting the first industrial revolution and became the world hegemon;</p><p>Virtue overtook Britain in corners in the field of internal combustion engine and electrification, leading the second industrial revolution and replacing Britain;</p><p>After World War II, the United States led the third industrial revolution in the fields of atomic energy, biomedicine, aerospace and computers, further consolidating its position as a global scientific and technological leader and world hegemony.</p><p><b>In the U.S. -Japan trade war in the 1980s and 1990s, apart from the superficial factor and direct incentive of the Plaza Agreement, the key to the ultimate victory of the United States over Japan also lies in the fundamental difference in the choice of driving forces for economic development between the two countries:</b></p><p>Japan follows the traditional host bank system, supports the development of traditional large-scale manufacturing enterprises and real estate industry, and its financial system does not meet the needs of scientific and technological innovation. After the Plaza Accord, the yen appreciated and exports were setbacks. Japan directly stimulated the stock market bubble and housing market bubble through the big currency release, giving birth to \"false prosperity\".</p><p>Through the Nasdaq market, the United States provided a convenient financing environment for technological innovation enterprises. Silicon Valley developed and cultivated a large number of later Internet enterprises.</p><p>By the 1990s, Japan's housing market and stock market bubbles burst, and the economy fell into the \"lost twenty years\"; The United States has accumulated a lot of experience, the Internet revolution has risen, and there has been a \"new economic prosperity\". Japan is completely out of the US-Japan rivalry.</p><p><b>Great power game, science and technology determines the world! Science and technology is the primary productive force and the key to the rise of great powers and global competition.</b></p><p><b>Finance is the blood of entities, technological competition, finance comes first. Which country's capital market can better serve innovation and facilitate the financing and development of high-tech enterprises, which country's scientific and technological innovation is more likely to make rapid progress, and at the same time, it can attract high-tech enterprises from other countries and regions to go public locally.</b></p><p><b>In recent years, NASDAQ in the United States has also continuously carried out institutional innovation, providing more convenient policy mechanism design for small and medium-sized science and technology enterprises to go public.</b>For example, in recent years, many special purpose acquisition companies (SPACs) have appeared in the US stock market, which has become the \"shortcut to the south\" for many enterprises to go public by backdoor. Its operation mode is: the first step is to set up a SPAC company and apply to the regulatory agency for issuance of shares to raise funds, but at this time, the shares held by the promoter can only be traded separately in the limited market; In the second step, within 18~24 months, the management team will find a target company that can be acquired, all shareholders will vote, and after the majority agrees, the acquisition will be completed, and the merger will be formed into a new company, and the stock will be officially listed and traded. Once the lock-up period of stocks held by the promoter expires, they can withdraw and cash out. SPAC mode enables enterprises to go public in a short time, and the cost is lower than IPO, shell listing/backdoor listing.</p><p><b>Nowadays, China's decision-makers have completely made up their minds to transform, bid farewell to the old model of \"real estate + land finance\" based on urbanization dividend, and shape a new growth model with three pillars of \"hard technology + green and low carbon + supporting small and micro private enterprises\".</b></p><p><b>In order to undertake the above-mentioned development strategic transformation, at present, China needs an exchange that focuses on serving innovative small and medium-sized enterprises and undertakes the mission of cultivating a number of specialized and new small and medium-sized enterprises. The emergence of Beijing Stock Exchange has adapted to the needs of the times and responded to the needs of global scientific and technological competition.</b></p><p><b>Second, the Beijing Stock Exchange was not \"born out of thin air\", but the result of the endogenous evolution of Beijing's long-term scientific and technological innovation support policy</b></p><p>Beijing is a city with a high concentration of innovative enterprises and financial resources in China. Looking at the policy evolution path in Beijing's scientific and technological innovation field, we can find that,<b>At every important historical juncture, Beijing has launched major policy and institutional innovations:</b></p><p>In the 1980s and 1990s, with the rise of the Internet technology industry in the United States, Beijing established<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>It has become the area with the most intensive scientific and educational intelligence and human resources in China, and is called \"China's Silicon Valley\".</p><p>In 2006, the unlisted joint-stock company of Zhongguancun Science and Technology Park entered the agency transfer system for share quotation transfer, which was called the \"New Third Board\".</p><p>On July 27, 2020, the establishment of the selected layer of the New Third Board and the promotion ceremony of the first batch of enterprises were held in the listing hall of the National Equities Exchange and Quotations Corporation. The first batch of 32 companies have all completed the public offering procedures, and the selected layer was officially established and opened for trading.</p><p><b>Nowadays, on the basis of more than a year's pilot project in the selected layer, the establishment of Beijing Stock Exchange on the basis of the selected layer can be described as a \"natural success\".</b></p><p><b>From the perspective of Beijing's industrial transformation and upgrading, digital economy and scientific and technological innovation are important supports. The establishment of Beijing Stock Exchange is important for<a href=\"https://laohu8.com/S/00925\">Beijing Construction</a>It is of great significance to be a financial center and scientific and technological innovation center with global influence.</b></p><p><b>3. What is most expected of Beijing Stock Exchange is whether the system construction can make further breakthroughs and innovations</b></p><p><b>China already has two major exchanges in Shanghai and Shenzhen. The biggest attraction of the establishment of Beijing Stock Exchange is not that there is another exchange. What is most worth looking forward to is what institutional innovations will be in the future!</b></p><p>For a long time before, China's stock market did not implement a registration system, and it was impossible to list enterprises with different rights in the same shares, and it was impossible to list unprofitable high-tech enterprises. The launch of science and technology innovation board solves the problem of registration system, and at the same time creates conditions for unprofitable high-tech enterprises to go public. Beijing Stock Exchange has further relaxed the rising market value and financial conditions of innovative small and medium-sized enterprises, making it more convenient for enterprises to go public and raise funds.</p><p><b>Judging from the information disclosed by the current regulation, the initial planning of Beijing Stock Exchange is an extension of the New Third Board:</b>Set up Beijing Stock Exchange on the basis of the existing select layer of the New Third Board, translate the basic systems of the select layer as a whole, insist that listed companies in Beijing Stock Exchange are generated by innovative companies, maintain the market structure of \"progressive layer by layer\" between the basic layer, innovation layer and Beijing Stock Exchange of the New Third Board, and simultaneously pilot the securities issuance registration system.</p><p>Previously, the selected layer of the New Third Board also designed a system of transferring to the Science and Technology Innovation Board and the Growth Enterprise Market, but the number of enterprises successfully transferred to the board was limited. The establishment of Beijing Stock Exchange based on the existing selected layer of the New Third Board is not only conducive to enhancing the liquidity and listing channels of the equity of listed enterprises in the New Third Board, but also to \"build the main position of service innovative small and medium-sized enterprises\" and \"cultivate a group of specialized and new small and medium-sized enterprises\".</p><p><b>Judging from the conditions and thresholds of listing/listing of the selected layer of the New Third Board and the Science and Technology Innovation Board, the requirements of the selected layer for the market value conditions and financial conditions of enterprises are more relaxed, which is more conducive to the listing of small and medium-sized science and technology enterprises.</b></p><p><b>Can Beijing Stock Exchange have more institutional innovations in the future? Can it further promote the reform process of China's stock market? Worth our anticipation.</b></p><p><img src=\"https://static.tigerbbs.com/24adac74431844c001244acdf21f3ca0\" tg-width=\"892\" tg-height=\"853\" width=\"100%\" height=\"auto\"></p><p><b>Fourth, the establishment of Beijing Stock Exchange will bring subversive changes in PE fund industry</b></p><p>The establishment of Beijing Stock Exchange is conducive to the listing of innovative small and medium-sized enterprises, the activation of the stock trading market, and the growth of brokerage underwriting business and brokerage business income. Therefore, brokerage stocks collectively rose sharply after the opening of the market on Friday.</p><p>But we think,<b>The establishment of Beijing Stock Exchange has very limited benefits to brokerage stocks, and at best, it is just to drink some \"soup\". PE/VC funds are the biggest beneficiaries or \"meat-eaters\" established by Beijing Stock Exchange, and the golden age of first-class PE funds can be expected to come.</b></p><p>In the past, the exit channels of PE/VC investment were relatively scarce, and basically, it was necessary to wait until the IPO of the invested enterprise was listed before it could exit smoothly. However, in the past, enterprises had a high threshold and a long cycle for listing in A shares, while the duration of general PE funds was often only 3-7 years.</p><p>In order to ensure that the fund can exit smoothly at the end of the duration of the fund and cash the income for investors, China's PE funds can often only accompany the \"second half\", and only intervene when the enterprise grows to a certain scale and can go public in a short time; Some enterprises are facing the problem of difficulty in listing in China, and finally will choose VIE structure to go public in the United States or Hong Kong, so that PE funds can withdraw.</p><p><b>With the launch of Science and Technology Innovation Board, the reform of GEM registration system and the establishment of Beijing Stock Exchange, it is more convenient for innovative small and medium-sized enterprises to go public, and the conditions are relaxed. They can go public at an earlier stage of enterprise development, which can alleviate the problem of mismatch between the term of PE fund products and the listing term of invested companies in the past, and change the phenomenon that Chinese PE funds gather to invest in pre-IPO or approach the listing round. The listing of innovative small and medium-sized enterprises no longer needs to complete the long process of angel round-A round-B round-C round-D round-... -IPO, thus promoting more PE funds to move forward on the investment side, and also promoting the development of VC investment.</b></p><p><b>The establishment of Beijing Stock Exchange has also changed the underlying logic of the survival of PE funds in the primary market, and will subvert the current industry ecology in the future.</b>At present, the PE and VC markets show a state of polarization: a large number of start-ups are competing for investment in head PE funds, while a large number of small and medium-sized PE funds are asking for share in star projects; The head PE fund has strong fund-raising ability, and it is difficult for small and medium-sized PE funds to find LP without special resources. In the future, it will be easier for innovative small and medium-sized enterprises to go public, which is conducive to the survival and development of specialized and characteristic small and medium-sized PE funds, and is expected to change the industry ecology of the monopoly dominance of large PE funds at the head.</p>","source":"lsy1568619116533","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 Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Beijing Stock Exchange is here! Whose \"big meat\", whose \"soup\"?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">海清FICC频道</strong><span class=\"h-time small\">2021-09-06 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On the evening of September 2nd, the central government announced that it would deepen the reform of the New Third Board, set up the Beijing Stock Exchange, and build the main position of serving innovative small and medium-sized enterprises.</p><p><b>First, the establishment of the Beijing Stock Exchange is a strategic choice of the game between great powers and \"prospering the country by science and technology\"</b></p><p>At present, a scientific and technological revolution led by digital economy, chips, artificial intelligence, new energy technology, space exploration technology and biomedical technology is coming.</p><p><b>In China's high-quality economic development, industrial transformation and upgrading and global industrial competition, the competition of scientific and technological innovation is the core.</b>Whether China can gain a first-mover advantage in this scientific and technological competition not only determines whether China can solve the short-term problem of \"stuck neck\" of key technologies, but also determines the long-term problem of who will be the \"leader\" of the global industrial economy in the future and whose century will be in the 21st century.</p><p><b>From the perspective of the rise of great powers in history, science and technology is the fundamental driving force:</b></p><p>With the help of the leading advantage of steam engine, Britain took the lead in starting the first industrial revolution and became the world hegemon;</p><p>Virtue overtook Britain in corners in the field of internal combustion engine and electrification, leading the second industrial revolution and replacing Britain;</p><p>After World War II, the United States led the third industrial revolution in the fields of atomic energy, biomedicine, aerospace and computers, further consolidating its position as a global scientific and technological leader and world hegemony.</p><p><b>In the U.S. -Japan trade war in the 1980s and 1990s, apart from the superficial factor and direct incentive of the Plaza Agreement, the key to the ultimate victory of the United States over Japan also lies in the fundamental difference in the choice of driving forces for economic development between the two countries:</b></p><p>Japan follows the traditional host bank system, supports the development of traditional large-scale manufacturing enterprises and real estate industry, and its financial system does not meet the needs of scientific and technological innovation. After the Plaza Accord, the yen appreciated and exports were setbacks. Japan directly stimulated the stock market bubble and housing market bubble through the big currency release, giving birth to \"false prosperity\".</p><p>Through the Nasdaq market, the United States provided a convenient financing environment for technological innovation enterprises. Silicon Valley developed and cultivated a large number of later Internet enterprises.</p><p>By the 1990s, Japan's housing market and stock market bubbles burst, and the economy fell into the \"lost twenty years\"; The United States has accumulated a lot of experience, the Internet revolution has risen, and there has been a \"new economic prosperity\". Japan is completely out of the US-Japan rivalry.</p><p><b>Great power game, science and technology determines the world! Science and technology is the primary productive force and the key to the rise of great powers and global competition.</b></p><p><b>Finance is the blood of entities, technological competition, finance comes first. Which country's capital market can better serve innovation and facilitate the financing and development of high-tech enterprises, which country's scientific and technological innovation is more likely to make rapid progress, and at the same time, it can attract high-tech enterprises from other countries and regions to go public locally.</b></p><p><b>In recent years, NASDAQ in the United States has also continuously carried out institutional innovation, providing more convenient policy mechanism design for small and medium-sized science and technology enterprises to go public.</b>For example, in recent years, many special purpose acquisition companies (SPACs) have appeared in the US stock market, which has become the \"shortcut to the south\" for many enterprises to go public by backdoor. Its operation mode is: the first step is to set up a SPAC company and apply to the regulatory agency for issuance of shares to raise funds, but at this time, the shares held by the promoter can only be traded separately in the limited market; In the second step, within 18~24 months, the management team will find a target company that can be acquired, all shareholders will vote, and after the majority agrees, the acquisition will be completed, and the merger will be formed into a new company, and the stock will be officially listed and traded. Once the lock-up period of stocks held by the promoter expires, they can withdraw and cash out. SPAC mode enables enterprises to go public in a short time, and the cost is lower than IPO, shell listing/backdoor listing.</p><p><b>Nowadays, China's decision-makers have completely made up their minds to transform, bid farewell to the old model of \"real estate + land finance\" based on urbanization dividend, and shape a new growth model with three pillars of \"hard technology + green and low carbon + supporting small and micro private enterprises\".</b></p><p><b>In order to undertake the above-mentioned development strategic transformation, at present, China needs an exchange that focuses on serving innovative small and medium-sized enterprises and undertakes the mission of cultivating a number of specialized and new small and medium-sized enterprises. The emergence of Beijing Stock Exchange has adapted to the needs of the times and responded to the needs of global scientific and technological competition.</b></p><p><b>Second, the Beijing Stock Exchange was not \"born out of thin air\", but the result of the endogenous evolution of Beijing's long-term scientific and technological innovation support policy</b></p><p>Beijing is a city with a high concentration of innovative enterprises and financial resources in China. Looking at the policy evolution path in Beijing's scientific and technological innovation field, we can find that,<b>At every important historical juncture, Beijing has launched major policy and institutional innovations:</b></p><p>In the 1980s and 1990s, with the rise of the Internet technology industry in the United States, Beijing established<a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>It has become the area with the most intensive scientific and educational intelligence and human resources in China, and is called \"China's Silicon Valley\".</p><p>In 2006, the unlisted joint-stock company of Zhongguancun Science and Technology Park entered the agency transfer system for share quotation transfer, which was called the \"New Third Board\".</p><p>On July 27, 2020, the establishment of the selected layer of the New Third Board and the promotion ceremony of the first batch of enterprises were held in the listing hall of the National Equities Exchange and Quotations Corporation. The first batch of 32 companies have all completed the public offering procedures, and the selected layer was officially established and opened for trading.</p><p><b>Nowadays, on the basis of more than a year's pilot project in the selected layer, the establishment of Beijing Stock Exchange on the basis of the selected layer can be described as a \"natural success\".</b></p><p><b>From the perspective of Beijing's industrial transformation and upgrading, digital economy and scientific and technological innovation are important supports. The establishment of Beijing Stock Exchange is important for<a href=\"https://laohu8.com/S/00925\">Beijing Construction</a>It is of great significance to be a financial center and scientific and technological innovation center with global influence.</b></p><p><b>3. What is most expected of Beijing Stock Exchange is whether the system construction can make further breakthroughs and innovations</b></p><p><b>China already has two major exchanges in Shanghai and Shenzhen. The biggest attraction of the establishment of Beijing Stock Exchange is not that there is another exchange. What is most worth looking forward to is what institutional innovations will be in the future!</b></p><p>For a long time before, China's stock market did not implement a registration system, and it was impossible to list enterprises with different rights in the same shares, and it was impossible to list unprofitable high-tech enterprises. The launch of science and technology innovation board solves the problem of registration system, and at the same time creates conditions for unprofitable high-tech enterprises to go public. Beijing Stock Exchange has further relaxed the rising market value and financial conditions of innovative small and medium-sized enterprises, making it more convenient for enterprises to go public and raise funds.</p><p><b>Judging from the information disclosed by the current regulation, the initial planning of Beijing Stock Exchange is an extension of the New Third Board:</b>Set up Beijing Stock Exchange on the basis of the existing select layer of the New Third Board, translate the basic systems of the select layer as a whole, insist that listed companies in Beijing Stock Exchange are generated by innovative companies, maintain the market structure of \"progressive layer by layer\" between the basic layer, innovation layer and Beijing Stock Exchange of the New Third Board, and simultaneously pilot the securities issuance registration system.</p><p>Previously, the selected layer of the New Third Board also designed a system of transferring to the Science and Technology Innovation Board and the Growth Enterprise Market, but the number of enterprises successfully transferred to the board was limited. The establishment of Beijing Stock Exchange based on the existing selected layer of the New Third Board is not only conducive to enhancing the liquidity and listing channels of the equity of listed enterprises in the New Third Board, but also to \"build the main position of service innovative small and medium-sized enterprises\" and \"cultivate a group of specialized and new small and medium-sized enterprises\".</p><p><b>Judging from the conditions and thresholds of listing/listing of the selected layer of the New Third Board and the Science and Technology Innovation Board, the requirements of the selected layer for the market value conditions and financial conditions of enterprises are more relaxed, which is more conducive to the listing of small and medium-sized science and technology enterprises.</b></p><p><b>Can Beijing Stock Exchange have more institutional innovations in the future? Can it further promote the reform process of China's stock market? Worth our anticipation.</b></p><p><img src=\"https://static.tigerbbs.com/24adac74431844c001244acdf21f3ca0\" tg-width=\"892\" tg-height=\"853\" width=\"100%\" height=\"auto\"></p><p><b>Fourth, the establishment of Beijing Stock Exchange will bring subversive changes in PE fund industry</b></p><p>The establishment of Beijing Stock Exchange is conducive to the listing of innovative small and medium-sized enterprises, the activation of the stock trading market, and the growth of brokerage underwriting business and brokerage business income. Therefore, brokerage stocks collectively rose sharply after the opening of the market on Friday.</p><p>But we think,<b>The establishment of Beijing Stock Exchange has very limited benefits to brokerage stocks, and at best, it is just to drink some \"soup\". PE/VC funds are the biggest beneficiaries or \"meat-eaters\" established by Beijing Stock Exchange, and the golden age of first-class PE funds can be expected to come.</b></p><p>In the past, the exit channels of PE/VC investment were relatively scarce, and basically, it was necessary to wait until the IPO of the invested enterprise was listed before it could exit smoothly. However, in the past, enterprises had a high threshold and a long cycle for listing in A shares, while the duration of general PE funds was often only 3-7 years.</p><p>In order to ensure that the fund can exit smoothly at the end of the duration of the fund and cash the income for investors, China's PE funds can often only accompany the \"second half\", and only intervene when the enterprise grows to a certain scale and can go public in a short time; Some enterprises are facing the problem of difficulty in listing in China, and finally will choose VIE structure to go public in the United States or Hong Kong, so that PE funds can withdraw.</p><p><b>With the launch of Science and Technology Innovation Board, the reform of GEM registration system and the establishment of Beijing Stock Exchange, it is more convenient for innovative small and medium-sized enterprises to go public, and the conditions are relaxed. They can go public at an earlier stage of enterprise development, which can alleviate the problem of mismatch between the term of PE fund products and the listing term of invested companies in the past, and change the phenomenon that Chinese PE funds gather to invest in pre-IPO or approach the listing round. The listing of innovative small and medium-sized enterprises no longer needs to complete the long process of angel round-A round-B round-C round-D round-... -IPO, thus promoting more PE funds to move forward on the investment side, and also promoting the development of VC investment.</b></p><p><b>The establishment of Beijing Stock Exchange has also changed the underlying logic of the survival of PE funds in the primary market, and will subvert the current industry ecology in the future.</b>At present, the PE and VC markets show a state of polarization: a large number of start-ups are competing for investment in head PE funds, while a large number of small and medium-sized PE funds are asking for share in star projects; The head PE fund has strong fund-raising ability, and it is difficult for small and medium-sized PE funds to find LP without special resources. In the future, it will be easier for innovative small and medium-sized enterprises to go public, which is conducive to the survival and development of specialized and characteristic small and medium-sized PE funds, and is expected to change the industry ecology of the monopoly dominance of large PE funds at the head.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/lqSPqmgOxaUC0SuD0zmyPQ\">海清FICC频道</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f5481d622d7bc535b67b2738f86cc0db","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/lqSPqmgOxaUC0SuD0zmyPQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103617448","content_text":"9月2日晚，中央宣布将深化新三板改革，设立北京证券交易所，打造服务创新型中小企业主阵地。\n一、设立北京证券交易所是大国博弈、“科技兴邦”的战略抉择\n当前，一场以数字经济、芯片、人工智能、新能源技术、太空探索技术、生物医药技术为引领的科技革命正在到来。\n在中国经济高质量发展、产业转型升级和全球产业竞争中，科技创新的竞争是核心。中国能否在这一场科技竞争中取得先发优势，不仅仅决定了中国能否解决关键技术“卡脖子”的短期问题，还决定了未来谁是全球产业经济的“领头羊”、21世纪是谁的世纪的长期问题。\n从历史上大国崛起的过程来看，科技是根本驱动力：\n英国借助蒸汽机的领先优势率先开始了第一次工业革命，成为世界霸主；\n美德在内燃机、电气化领域弯道超车超过英国，引领了第二次工业革命，取代了英国的地位；\n二战后美国在原子能、生物医药、航空航天、计算机等领域引领了第三次工业革命，进一步巩固了其全球科技领头羊地位和世界霸主地位。\n在上世纪八九十年代的美日贸易战中，除了“广场协议”这一表面因素和直接诱因外，美国最终能够胜过日本的关键也在于两国在经济发展驱动力选择上的根本差异：\n日本因循传统的主办银行制度，支持传统的大型制造业企业和房地产行业发展，其金融体制不适应科技创新的需要。在广场协议后，日元升值、出口受挫，日本更是直接通过货币大放水刺激起股市泡沫和房市泡沫，催生出“虚假的繁荣”。\n美国通过纳斯达克市场为科技创新企业提供便利的融资环境，硅谷发展起来，培育了一大批后来的互联网企业。\n到了九十年代，日本房市和股市泡沫破裂，经济陷入“失去的二十年”；美国厚积薄发，互联网革命兴起，出现“新经济繁荣”。日本在美日竞争中彻底出局。\n大国博弈，科技定乾坤！科技是第一生产力，是大国崛起和全球竞争的关键。\n金融是实体的血液，科技竞争，金融先行。哪个国家的资本市场更能服务创新，更能为高科技企业融资和发展提供便利，哪个国家的科技创新就更有可能快速进步，同时还能吸引其他国家和地区的高科技企业来本地上市。\n近年来美国纳斯达克也在不断进行制度创新，为中小科创企业上市提供更便捷的政策机制设计。比如，近年来美国股市出现许多特殊目的收购公司（SPAC），成为许多企业借壳上市的“终南捷径”。其操作模式是：第一步，成立一个SPAC公司，向监管机构申请发股募资，但此时发起人持有的股票只能在限定市场上单独交易；第二步，在18~24个月内，管理团队找到一家可以收购的目标公司，全体股东投票，多数同意后完成收购，合并成新公司，股票就可以正式上市交易。发起人持有的股票等锁定期一过，就可以退出套现。SPAC模式能够让企业在短时间内实现上市，成本也比IPO、买壳上市/借壳上市更低。\n如今中国决策层已经彻底下定决心转型，告别以城镇化红利为基础的“房地产+土地财政”旧模式，塑造“硬科技+绿色低碳+支持民企小微”为三大支柱的新增长模式。\n为承接上述发展战略转型，目前国内需要一个聚焦服务创新型中小企业、承担培育一批专精特新中小企业使命的交易所，北京证券交易所的出现适应了时代的需要，也响应了全球科技竞争的需求。\n二、北京证券交易所并非“凭空出世”，而是北京长期以来科技创新支持政策内生进化的结果\n北京是中国创新企业和金融资源高度集中的城市，纵观北京科技创新领域的政策演进路径可以发现，在每一个重要的历史关口，北京都推出了重大的政策和制度创新：\n在上世纪八九十年代，随着美国互联网科技产业兴起，北京建立了中关村，成为我国科教智力和人才资源最为密集的区域，被称为“中国硅谷”。\n2006年，中关村科技园区非上市股份公司进入代办转让系统进行股份报价转让，称为“新三板”。\n2020年7月27日，新三板精选层设立暨首批企业晋层仪式在全国股转公司挂牌大厅举行，首批32家公司已全部完成公开发行程序，精选层正式设立并开市交易。\n如今，在精选层进行了一年多的试点的基础上，以精选层为基础组建北京证券交易所，可谓“水到渠成”。\n从北京产业转型升级的方向来看，数字经济、科技创新是重要的支撑，北京证券交易所的设立，对于北京建设具有全球影响力的金融中心、科技创新中心具有重大意义。\n三、北京证券交易所最值得期待的是制度建设能否再做突破创新\n中国已有沪深两大交易所，设立北京证券交易所的最大看点并不是又多了一家交易所，其最值得期待的是未来还会有哪些制度创新！\n此前很长一段时间，中国股市没有实行注册制、无法让同股不同权的企业上市、无法让未盈利的高科技企业上市。科创板的推出解决了注册制的问题，同时为未盈利的高科技企业上市创造了条件。北京证券交易所进一步放宽了创新型中小企业上升的市值、财务条件，企业上市融资更加便捷。\n从目前监管披露的信息来看，北京证券交易所的初期规划是新三板的延伸：以现有的新三板精选层为基础组建北京证券交易所，总体平移精选层各项基础制度，坚持北京证券交易所上市公司由创新层公司产生，维持新三板基础层、创新层与北京证券交易所“层层递进”的市场结构，同步试点证券发行注册制。\n此前新三板精选层也设计了向科创板、创业板转板上市的制度，但成功转板上市的企业有限。以现有的新三板精选层为基础组建北京证券交易所，不仅有利于增强新三板挂牌企业股权的流动性和上市渠道，还是为了“打造服务创新型中小企业主阵地”，“培育一批专精特新中小企业”。\n从新三板精选层和科创板挂牌/上市的条件和门槛来看，精选层的对企业市值条件、财务条件的要求更加宽松，更有利于中小科创企业的上市。\n未来北京证券交易所是否能有更多的制度创新？能否进一步推动中国股票市场的改革进程？值得我们期待。\n\n四、北京证券交易所的设立将带来PE基金行业的颠覆性变革\n北京证券交易所的设立，有利于创新型中小企业上市，活跃股票交易市场，有利于券商承销业务和经纪业务收入增长，因此，周五开盘后券商股集体大涨。\n但我们认为，北京证券交易所的设立对券商股的利好非常有限，充其量也就是喝点“汤”。北京证券交易所设立的最大受益者或者说“吃肉的”是PE/VC基金，一级PE基金黄金时代可期待来临。\n过去 PE/VC投资的退出渠道比较匮乏，基本上需要等到被投企业IPO上市后才能顺畅地退出。但以前企业在A股上市门槛高、周期长，而一般的PE基金的存续期限往往只有3—7年。\n为了保证在基金存续期结束时能够顺利退出、给投资人兑现收益，中国的PE基金往往只能陪跑“后半场”，在企业成长到一定规模、能够在较短的时间内上市时才介入；部分企业在中国面临上市难的问题，最后会选择VIE架构去美国或香港上市，让PE基金得以退出。\n随着科创板推出、创业板注册制改革、北京证券交易所设立，创新型中小企业上市更加便捷，条件放宽，可以在企业发展的较早阶段上市，能够缓解过去PE基金产品期限和被投公司上市期限不匹配的难题，改变中国PE基金扎堆投pre-IPO或临近上市轮现象。创新型中小企业上市不再需要完整走完天使轮—A轮—B轮—C轮—D轮—……—IPO的漫长过程，从而促使更多的PE基金在投资端前移，也可以促进VC投资的发展。\n北京证券交易所的设立，还改变了一级市场PE基金生存的底层逻辑，未来将颠覆目前的行业生态。目前的PE、VC市场，呈现出两极分化的状态：一大批初创企业争相求着头部PE基金投资，而一大批中小PE基金则求着明星项目要份额；头部PE基金募资能力强，中小PE基金若无特殊资源则很难找到LP。未来创新型中小企业上市更加容易，有利于专业化、特色型中小PE基金的生存发展，有望改变头部大型PE基金垄断主导权的行业生态。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387917034668400,"gmtCreate":1735747819396,"gmtModify":1735781346912,"author":{"id":"3574844155958672","authorId":"3574844155958672","name":"Runningrus","avatar":"https://community-static.tradeup.com/news/4730182fc61e2054b8f1a74816577803","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574844155958672","idStr":"3574844155958672"},"themes":[],"htmlText":"Wow 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