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2021-05-24

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Inflation data, consumer confidence: What to know this week

2021-05-24

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2021-05-24

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The print is expected to show a rise of 3.5% in April over last year for the biggest increase since 2008, according to Bloomberg consensus data. This would also accelerate after a year-on-year jump of 2.3% in March. On a month-over-month basis, the PCE likely increased by 0.6%, accelerating after a 0.5% increase during the prior month.</p><p>Stripping away volatile food and energy prices, the so-called core PCE is expected to have increased by 2.9% in April over last year, which would be the largest jump in more than two decades.</p><p>Though the core PCE serves as the Federal Reserve's preferred inflation gauge, the expected surge in this week's inflation reports are unlikely to provoke immediate concern for the central bank. Federal Reserve Chair Jerome Powell has said repeatedly he believes inflationary pressures this year will be \"transitory,\" largely reflecting base effects as this year's data lap last year's pandemic-depressed levels. And for years previously, inflation ran well below the central bank's targeted levels.</p><p>In the words of the central bank's latest monetary policy statement, Federal Open Market Committee members wrote, \"With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time and longer‑term inflation expectations remain well anchored at 2%.\" In other words, the Fed has suggested monetary policy would remain as is — with interest rates near zero and the Fed's asset purchases taking place at a rate of $120 billion per month — as the economic recovery out of the pandemic progresses.</p><p>Still, the market has suggested it might need more convincing before agreeing that the jump in inflation will not be long-lasting or prompt a change in the Fed's current ultra-accommodative monetary policy positioning. Longer-duration assets like growth and technology stocks have especially come under pressure in recent months amid inflationary concerns, given prospects that higher rates might undercut future earnings potential. The information technology sector has sharply underperformed the broader S&amp;P 500 so far this year, reversing course after outperforming strongly in 2020.</p><p><img src=\"https://s.yimg.com/os/creatr-uploaded-images/2021-05/0dd5d170-bb4b-11eb-aaed-1d008e6a3a00\" tg-width=\"4660\" tg-height=\"3062\" referrerpolicy=\"no-referrer\">SAN FRANCISCO, CALIFORNIA - APRIL 15: A pedestrian carries a shopping bag as he walks through the Union Square shopping district on April 15, 2021 in San Francisco, California. According to a report by the U.S. Commerce Department, retail sales surged 9.8 percent in March as Americans started to spend $1,400 government stimulus checks. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images</p><p>\"Markets have basically made inflation the battleground issue for determining whether or not it's really this rotation trade that'll win out the rest of this year, or whether it's the tech and growth stocks that won out last year,\" James Liu, Clearnomics founder and CEO, told Yahoo Finance last week. \"You've seen this bounce back and forth throughout the course of this year.\"</p><p>Heading into this week's PCE report, a number of other inflation prints have also exceeded expectations, pointing to an increase in both consumer and producer prices. Government data showed that headline consumer prices surged by a faster than expected 4.2% last month. Excluding food and energy, prices jumped 0.9% in April and were up 3.0% over the year. And producer prices also came in higher than expected, with core producer prices rising 4.1% in April over last year versus the 3.8% increase expected. These stronger-than-expected increases could portend some upside risk to this week's PCE print, some economists suggested.</p><p>\"The April CPI data were stronger than our expectation, suggesting a more front-loaded impact from transitory factors, pressure from semiconductor shortages and the resurgence of demand for sectors affected by the pandemic,\" Nomura Chief Economist Lewis Alexander wrote in a note Friday. \"Given that the core PCE price index is a chain-weighted index, an expected rise in spending for COVID-sensitive services could amplify the magnitude of corresponding prices.\"</p><h3>Consumer confidence</h3><p>Updated readings on sentiment among consumers are also due for release this week.</p><p>On Main Street, consumers have also observed rising prices. Inflation concerns have weighed on sentiment even as COVID-19 cases drop and more businesses reopen following widespread vaccinations.</p><p>\"Consumers have taken notice of rising inflation, as evidenced by Google Trends and the University of Michigan survey,\" Bank of America economist Michelle Meyer wrote in a note, referring to the University of Michigan's Surveys of Consumers. \"The expectation is increasingly for higher inflation, even if dominated by transitory stories, and we believe there is risk for further upside in the near term. But, over the medium term, we expect expectations to cool alongside the core inflation trajectory, albeit to a higher trend.\"</p><p>In the University of Michigan's preliminary May consumer sentiment survey, the headline index tumbled to 82.8 from 88.3 in April, \"due to higher inflation—the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade,\" Richard Curtin, chief economist for the University of Michigan's Surveys of Consumers, wrote in a note at the time. However, he added that \"consumer spending will still advance despite higher prices due to pent-up demand and record saving balances.\"</p><p>The University of Michigan's final May sentiment print due for release on Friday is expected to firm slightly to 83.0.</p><p>Other sentiment surveys will likely show similar dips for May, due in part to rising price pressures. The Conference Board's closely watched Consumer Confidence Index will be released on Tuesday, and is expected to dip to 118.9 in May from 121.7 in April. That had, in turn, been the highest reading since February 2020, or before COVID-19 cases began to surge in the U.S. last year.</p><h3>Earnings calendar</h3><ul><li><p><b>Monday: </b><a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors Corp.</a> (RIDE) after market close</p></li><li><p><b>Tuesday: </b>AutoZone (AZO) before market open; Intuit (INTU), Nordstrom (JWN), Zscaler (ZS), Agilent Technologies (A) after market close</p></li><li><p><b>Wednesday: </b>Dick's Sporting Goods (DKS), Abercrombie &amp; Fitch (ANF) before market open; American Eagle Outfitters (AEO), Nvidia (NVDA), Okta (OKTA), <a href=\"https://laohu8.com/S/SNOW\">Snowflake</a> (SNOW), <a href=\"https://laohu8.com/S/WDAY\">Workday</a> (WDAY), Williams-Sonoma (WSM) after market close</p></li><li><p><b>Thursday: </b>Best Buy (BBY), Dollar General (DG) before market open; Costco (COST), The Gap (GPS), VMWare (VMW), Box (BOX), Autodesk (ADSK), HP Inc (HPQ), <a href=\"https://laohu8.com/S/CRM\">Salesforce</a>.com Inc. (CRM), Dell (DELL), Ulta Beauty (ULTA) after market close</p></li><li><p><b>Friday: </b>N/A</p><p style=\"text-align:left;\"><img src=\"https://static.tigerbbs.com/ea494c0a9625f3a17a1306a1f1525dab\" tg-width=\"1472\" tg-height=\"594\" referrerpolicy=\"no-referrer\"></p></li></ul><h3>Economic calendar</h3><ul><li><p><b>Monday: </b>Chicago Fed National Activity Index, April (1.1 expected, 1.7 in March)</p></li><li><p><b>Tuesday: </b>FHFA House Price Index, month-over-month, March (1.3% expected, 0.9% in February); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite Index, month-over-month, March (1.33% expected, 1.17% in February); S&amp;P CoreLogic Case-Shiller 20-City Composite Index, year-over-year, March (12.55% expected, 11.94% in February); New home sales, April (950,000 expected, 1.021 million in March); Conference Board Consumer Confidence, May (118.9 expected, 121.7 in April); Richmond Fed. Manufacturing Index, May (18 expected, 17 in April)</p></li><li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended May 21 (1.2% during prior week)</p></li><li><p><b>Thursday: </b>Durable goods orders, April preliminary (0.8% expected, 0.8% in March); Durable goods orders excluding transportation, April preliminary (0.7% expected, 1.9% in March); Non-defense capital goods orders excluding aircraft, April preliminary (1.0% expected, 1.2% in March); GDP annualized quarter-over-quarter, Q1 second print (6.5% expected, 6.4% in first print); Personal consumption, Q1 second print (10.9% expected, 10.7% in first print); Core personal consumptions expenditures, quarter-over-quarter, Q1 second print (2.3% expected, 2.3% in prior print); Initial jobless claims, week ended May 22 (425,000 expected, 444,000 during prior week); Continuing claims, week ended May 15 (3.751 million during prior week); Pending home sales, month-over-month, April (0.5% expected, 1.9% in March); Kansas City Fed Manufacturing Activity Index, May (29 expected, 31 in April)</p></li><li><p><b>Friday: </b>Wholesale inventories, month-over-month, April preliminary (1.1% expected, 1.3% in March); Personal income, April (-14.8% expected, 21.5% in March); Personal spending, April (0.5% expected, 4.2% in March); PCE Deflator, year-over-year, April (3.5% expected, 2.3% in March); PCE Deflator, month-over-month, April (0.6% expected, 0.5% in March); MNI Chicago PMI, May (69.0 expected, 72.1 in April); University of Michigan Sentiment, May final (83.0 expected, 82.8 in prior print)</p></li></ul>","source":"yahoofinance","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>Inflation data, consumer confidence: What to know this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation data, consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-24 00:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/inflation-data-consumer-confidence-what-to-know-this-week-164539544.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors this week are poised to receive a number of key economic data reports offering the latest look at the state of inflation in the U.S., with investors and consumers alike jittery at the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/inflation-data-consumer-confidence-what-to-know-this-week-164539544.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/inflation-data-consumer-confidence-what-to-know-this-week-164539544.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2137827351","content_text":"Investors this week are poised to receive a number of key economic data reports offering the latest look at the state of inflation in the U.S., with investors and consumers alike jittery at the prospects of rising prices during the post-pandemic recovery.The U.S. Bureau of Economic Analysis will release its April personal consumption expenditures (PCE) index on Friday. The print is expected to show a rise of 3.5% in April over last year for the biggest increase since 2008, according to Bloomberg consensus data. This would also accelerate after a year-on-year jump of 2.3% in March. On a month-over-month basis, the PCE likely increased by 0.6%, accelerating after a 0.5% increase during the prior month.Stripping away volatile food and energy prices, the so-called core PCE is expected to have increased by 2.9% in April over last year, which would be the largest jump in more than two decades.Though the core PCE serves as the Federal Reserve's preferred inflation gauge, the expected surge in this week's inflation reports are unlikely to provoke immediate concern for the central bank. Federal Reserve Chair Jerome Powell has said repeatedly he believes inflationary pressures this year will be \"transitory,\" largely reflecting base effects as this year's data lap last year's pandemic-depressed levels. And for years previously, inflation ran well below the central bank's targeted levels.In the words of the central bank's latest monetary policy statement, Federal Open Market Committee members wrote, \"With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time and longer‑term inflation expectations remain well anchored at 2%.\" In other words, the Fed has suggested monetary policy would remain as is — with interest rates near zero and the Fed's asset purchases taking place at a rate of $120 billion per month — as the economic recovery out of the pandemic progresses.Still, the market has suggested it might need more convincing before agreeing that the jump in inflation will not be long-lasting or prompt a change in the Fed's current ultra-accommodative monetary policy positioning. Longer-duration assets like growth and technology stocks have especially come under pressure in recent months amid inflationary concerns, given prospects that higher rates might undercut future earnings potential. The information technology sector has sharply underperformed the broader S&P 500 so far this year, reversing course after outperforming strongly in 2020.SAN FRANCISCO, CALIFORNIA - APRIL 15: A pedestrian carries a shopping bag as he walks through the Union Square shopping district on April 15, 2021 in San Francisco, California. According to a report by the U.S. Commerce Department, retail sales surged 9.8 percent in March as Americans started to spend $1,400 government stimulus checks. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images\"Markets have basically made inflation the battleground issue for determining whether or not it's really this rotation trade that'll win out the rest of this year, or whether it's the tech and growth stocks that won out last year,\" James Liu, Clearnomics founder and CEO, told Yahoo Finance last week. \"You've seen this bounce back and forth throughout the course of this year.\"Heading into this week's PCE report, a number of other inflation prints have also exceeded expectations, pointing to an increase in both consumer and producer prices. Government data showed that headline consumer prices surged by a faster than expected 4.2% last month. Excluding food and energy, prices jumped 0.9% in April and were up 3.0% over the year. And producer prices also came in higher than expected, with core producer prices rising 4.1% in April over last year versus the 3.8% increase expected. These stronger-than-expected increases could portend some upside risk to this week's PCE print, some economists suggested.\"The April CPI data were stronger than our expectation, suggesting a more front-loaded impact from transitory factors, pressure from semiconductor shortages and the resurgence of demand for sectors affected by the pandemic,\" Nomura Chief Economist Lewis Alexander wrote in a note Friday. \"Given that the core PCE price index is a chain-weighted index, an expected rise in spending for COVID-sensitive services could amplify the magnitude of corresponding prices.\"Consumer confidenceUpdated readings on sentiment among consumers are also due for release this week.On Main Street, consumers have also observed rising prices. Inflation concerns have weighed on sentiment even as COVID-19 cases drop and more businesses reopen following widespread vaccinations.\"Consumers have taken notice of rising inflation, as evidenced by Google Trends and the University of Michigan survey,\" Bank of America economist Michelle Meyer wrote in a note, referring to the University of Michigan's Surveys of Consumers. \"The expectation is increasingly for higher inflation, even if dominated by transitory stories, and we believe there is risk for further upside in the near term. But, over the medium term, we expect expectations to cool alongside the core inflation trajectory, albeit to a higher trend.\"In the University of Michigan's preliminary May consumer sentiment survey, the headline index tumbled to 82.8 from 88.3 in April, \"due to higher inflation—the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade,\" Richard Curtin, chief economist for the University of Michigan's Surveys of Consumers, wrote in a note at the time. However, he added that \"consumer spending will still advance despite higher prices due to pent-up demand and record saving balances.\"The University of Michigan's final May sentiment print due for release on Friday is expected to firm slightly to 83.0.Other sentiment surveys will likely show similar dips for May, due in part to rising price pressures. The Conference Board's closely watched Consumer Confidence Index will be released on Tuesday, and is expected to dip to 118.9 in May from 121.7 in April. That had, in turn, been the highest reading since February 2020, or before COVID-19 cases began to surge in the U.S. last year.Earnings calendarMonday: Lordstown Motors Corp. (RIDE) after market closeTuesday: AutoZone (AZO) before market open; Intuit (INTU), Nordstrom (JWN), Zscaler (ZS), Agilent Technologies (A) after market closeWednesday: Dick's Sporting Goods (DKS), Abercrombie & Fitch (ANF) before market open; American Eagle Outfitters (AEO), Nvidia (NVDA), Okta (OKTA), Snowflake (SNOW), Workday (WDAY), Williams-Sonoma (WSM) after market closeThursday: Best Buy (BBY), Dollar General (DG) before market open; Costco (COST), The Gap (GPS), VMWare (VMW), Box (BOX), Autodesk (ADSK), HP Inc (HPQ), Salesforce.com Inc. (CRM), Dell (DELL), Ulta Beauty (ULTA) after market closeFriday: N/AEconomic calendarMonday: Chicago Fed National Activity Index, April (1.1 expected, 1.7 in March)Tuesday: FHFA House Price Index, month-over-month, March (1.3% expected, 0.9% in February); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, March (1.33% expected, 1.17% in February); S&P CoreLogic Case-Shiller 20-City Composite Index, year-over-year, March (12.55% expected, 11.94% in February); New home sales, April (950,000 expected, 1.021 million in March); Conference Board Consumer Confidence, May (118.9 expected, 121.7 in April); Richmond Fed. Manufacturing Index, May (18 expected, 17 in April)Wednesday: MBA Mortgage Applications, week ended May 21 (1.2% during prior week)Thursday: Durable goods orders, April preliminary (0.8% expected, 0.8% in March); Durable goods orders excluding transportation, April preliminary (0.7% expected, 1.9% in March); Non-defense capital goods orders excluding aircraft, April preliminary (1.0% expected, 1.2% in March); GDP annualized quarter-over-quarter, Q1 second print (6.5% expected, 6.4% in first print); Personal consumption, Q1 second print (10.9% expected, 10.7% in first print); Core personal consumptions expenditures, quarter-over-quarter, Q1 second print (2.3% expected, 2.3% in prior print); Initial jobless claims, week ended May 22 (425,000 expected, 444,000 during prior week); Continuing claims, week ended May 15 (3.751 million during prior week); Pending home sales, month-over-month, April (0.5% expected, 1.9% in March); Kansas City Fed Manufacturing Activity Index, May (29 expected, 31 in April)Friday: Wholesale inventories, month-over-month, April preliminary (1.1% expected, 1.3% in March); Personal income, April (-14.8% expected, 21.5% in March); Personal spending, April (0.5% expected, 4.2% in March); PCE Deflator, year-over-year, April (3.5% expected, 2.3% in March); PCE Deflator, month-over-month, April (0.6% expected, 0.5% in March); MNI Chicago PMI, May (69.0 expected, 72.1 in April); University of Michigan Sentiment, May final (83.0 expected, 82.8 in prior print)","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581805290358618","authorId":"3581805290358618","name":"lyoshen","avatar":"https://static.tigerbbs.com/0a5fa40ff8caa5b33f004516d4326fe2","crmLevel":3,"crmLevelSwitch":0,"idStr":"3581805290358618","authorIdStr":"3581805290358618"},"content":"Please like and comment","text":"Please like and comment","html":"Please like and comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133749402,"gmtCreate":1621813919006,"gmtModify":1704362554620,"author":{"id":"3581384568079157","authorId":"3581384568079157","name":"Pototka","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581384568079157","authorIdStr":"3581384568079157"},"themes":[],"htmlText":"Hmmmm ok sure","listText":"Hmmmm ok sure","text":"Hmmmm ok sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133749402","repostId":"1122456174","repostType":4,"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133740700,"gmtCreate":1621813868100,"gmtModify":1704362552838,"author":{"id":"3581384568079157","authorId":"3581384568079157","name":"Pototka","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581384568079157","authorIdStr":"3581384568079157"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133740700","repostId":"2137827351","repostType":4,"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":133743568,"gmtCreate":1621813951354,"gmtModify":1704362555785,"author":{"id":"3581384568079157","authorId":"3581384568079157","name":"Pototka","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581384568079157","authorIdStr":"3581384568079157"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/133743568","repostId":"2137827351","repostType":4,"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581805290358618","authorId":"3581805290358618","name":"lyoshen","avatar":"https://static.tigerbbs.com/0a5fa40ff8caa5b33f004516d4326fe2","crmLevel":3,"crmLevelSwitch":0,"idStr":"3581805290358618","authorIdStr":"3581805290358618"},"content":"Please like and comment","text":"Please like and comment","html":"Please like and comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133740700,"gmtCreate":1621813868100,"gmtModify":1704362552838,"author":{"id":"3581384568079157","authorId":"3581384568079157","name":"Pototka","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581384568079157","authorIdStr":"3581384568079157"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133740700","repostId":"2137827351","repostType":4,"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133749402,"gmtCreate":1621813919006,"gmtModify":1704362554620,"author":{"id":"3581384568079157","authorId":"3581384568079157","name":"Pototka","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581384568079157","authorIdStr":"3581384568079157"},"themes":[],"htmlText":"Hmmmm ok sure","listText":"Hmmmm ok sure","text":"Hmmmm ok sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133749402","repostId":"1122456174","repostType":4,"repost":{"id":"1122456174","pubTimestamp":1621813586,"share":"https://ttm.financial/m/news/1122456174?lang=&edition=fundamental","pubTime":"2021-05-24 07:46","market":"uk","language":"en","title":"World’s Best Rally Has Morgan Stanley to Newton Eyeing Europe","url":"https://stock-news.laohu8.com/highlight/detail?id=1122456174","media":"Bloomberg","summary":"(Bloomberg) -- For so long the laggards of global equity markets, European stocks are back in favor ","content":"<p>(Bloomberg) -- For so long the laggards of global equity markets, European stocks are back in favor and with the likes of Credit Suisse Group AG and Morgan Stanley joining an increasingly bullish chorus, investors are taking note.</p><p>The Euro Stoxx 50 Index of eurozone blue-chips is up 13% so far in 2021, outperforming the S&amp;P 500 in the opening five months of the year for the first time since 2017 and topping all other major regional benchmarks. That’s coincided with a recent pick-up in inflows into European equity funds, while the latest Bank of America Corp. global fund manager survey showed that euro-area stocks are now the biggest regional equity overweight.</p><p><img src=\"https://static.tigerbbs.com/43eaba997a24fb4f7ec3d4d08beefe01\" tg-width=\"704\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p>“This outperformance has further to run, given the scope for Europe to play catch-up with the U.S. as vaccine programs gather pace,” said Catherine Doyle, a strategist on the real return team at BNY Mellon’s ‎Newton Investment Management, which is overweight Europe relative to global equities.</p><p>What makes Europe so attractive right now is the vast presence of cheap sectors sensitive to an economic recovery being hastened by a ramp-up in vaccination efforts that initially trailed the U.S. and U.K. The region is also less susceptible to the inflation worries that have spooked markets of late, given a relative dearth of the worst-hit sectors such as technology.</p><p><img src=\"https://static.tigerbbs.com/cb8e3e0d16a6ebfd440b636502adad31\" tg-width=\"704\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p>Such factors are providing a catalyst to historically low valuations. The Euro Stoxx 50 Index trades at about 17.6 times 12-month earnings, compared with 21 times for the S&amp;P 500, and 26 times for the Nasdaq. Unlike most global indexes, it has yet to reach its record high or even surpass its 2008 peak.</p><p>Europe’s recent outperformance is only just starting to get the attention of market players. Credit Suisse raised continental European stocks to overweight on Thursday, citing catch-up potential for the region’s economic growth that has lagged the U.S., its exposure to the green energy boom and low investor positioning compared to other regions.</p><p>Morgan Stanley favors European equities over the U.S. on earnings recovery as the Biden administration plans to boost corporate taxes. And U.S. investment management firm Eaton Vance is “significantly” overweight Europe in global and international equity portfolios, according to Chris Dyer, director of global equity, who sees the region’s outperformance continuing versus the U.S.</p><p><b>Equity Inflows</b></p><p>According to Bank of America and EPFR Global data, European equity funds have attracted inflows over the past six weeks. Yet there’s still a long way to go to catch up with peers. For 2021 to date, the region has attracted just $4.8 billion compared with a whopping $181 billion plowed into U.S. equity funds. Last year, investors pulled about $43 billion from European stock funds, the most among major regions.</p><p>International investors are also voting for euro-area equities by piling into exchange-traded funds. The U.S.-listed SPDR EURO STOXX 50 ETF is set for its biggest month of inflows since 2017 with about $300 million new additions in May, while the iShares MSCI Eurozone ETF this week had its largest single-day inflow of $187 million since October 2019.</p><p>To be sure, strategists surveyed by Bloomberg see limited scope for gains from current levels by the end of 2021, with the average forecast of 4,012 for the Euro Stoxx 50, down 0.3% from the Friday close. This kind of market might favor stock pickers over index followers.</p><p>Newton’s Doyle likes automakers such as Volkswagen AG, which can thrive on the adoption of electric vehicles, energy firms such as RWE AG that are making a push for a green-energy transition, and low-cost airline Ryanair Holdings Plc, which she expects to benefit from rising passenger volumes as travel resumes. Volkswagen is down 12% from its April peak and up 42% year-to-date, while RWE has fallen 5.6% this year and Ryanair is down 0.2%.</p><p><img src=\"https://static.tigerbbs.com/be17288a4b7424c8c652ed1315036472\" tg-width=\"704\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><b>‘Final Unlocking’</b></p><p>Luke Newman, who runs long-short funds at Janus Henderson Investors, says he’s net long euro-area equities and net-short the U.S. market because Europe is only now entering the “final unlocking.”</p><p>READ: More Than 1.54 Billion Shots Given: Covid-19 Vaccine Tracker</p><p>“Within the unlocking trade, continental Europe has lagged the U.S. and U.K. given the infections waves and vaccine rollouts,” Newman said in a video interview. “We feel that now is the time when the market is prepared to look out not necessarily at this year, but at 2022 and 2023, and start to assume recovery for those less-favored unlocking areas of the market.”</p><p>He sees Safran SA, a French aircraft engine manufacturer, which is up just 3.4% this year, and Sodexo SA, a French food services and facilities management company, which has gained 13% in 2021 but is down 10% from its March peak, as some of the companies that can benefit from the rebound.</p><p>Kevin Thozet, member of the investment committee at Carmignac, says the European market is in a “sweet spot” due to its balance of cyclical and quality names, such as luxury companies, which represent a large part of the index. The French asset manager with 39 billion euros ($48 billion) under management holds shares that include LVMH, Hermes International and Ferrari NV, in addition to Safran and Ryanair.</p><p>“The big attraction in the U.S. was, for a very long time, the technology sector. There are tech companies in Europe, but they aren’t as important. This didn’t help European equities in the past, but there’s a rotation in place right now and Europe benefits,” Thozet said in an interview.</p><p>Fiscal and monetary stimulus, along with a rebound in consumer spending, should enable economic activity in the euro area to return to pre-Covid levels by late 2021, according to Wei Li, global chief investment strategist at the BlackRock Investment Institute. BlackRock lifted euro-area equities to neutral in February and prefers them to the European credit market.</p><p>“In addition to a more positive macro backdrop, we see valuations in the euro area as supportive,” she said by email. “We still expect a rapid activity restart beginning in the second half of this year.”</p><p><img src=\"https://static.tigerbbs.com/38bcaf59f8d8a0f2e56f517e49f92545\" tg-width=\"704\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>World’s Best Rally Has Morgan Stanley to Newton Eyeing Europe</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\">\nWorld’s Best Rally Has Morgan Stanley to Newton Eyeing Europe\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-24 07:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/world-best-rally-morgan-stanley-050803846.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- For so long the laggards of global equity markets, European stocks are back in favor and with the likes of Credit Suisse Group AG and Morgan Stanley joining an increasingly bullish ...</p>\n\n<a href=\"https://finance.yahoo.com/news/world-best-rally-morgan-stanley-050803846.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/world-best-rally-morgan-stanley-050803846.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122456174","content_text":"(Bloomberg) -- For so long the laggards of global equity markets, European stocks are back in favor and with the likes of Credit Suisse Group AG and Morgan Stanley joining an increasingly bullish chorus, investors are taking note.The Euro Stoxx 50 Index of eurozone blue-chips is up 13% so far in 2021, outperforming the S&P 500 in the opening five months of the year for the first time since 2017 and topping all other major regional benchmarks. That’s coincided with a recent pick-up in inflows into European equity funds, while the latest Bank of America Corp. global fund manager survey showed that euro-area stocks are now the biggest regional equity overweight.“This outperformance has further to run, given the scope for Europe to play catch-up with the U.S. as vaccine programs gather pace,” said Catherine Doyle, a strategist on the real return team at BNY Mellon’s ‎Newton Investment Management, which is overweight Europe relative to global equities.What makes Europe so attractive right now is the vast presence of cheap sectors sensitive to an economic recovery being hastened by a ramp-up in vaccination efforts that initially trailed the U.S. and U.K. The region is also less susceptible to the inflation worries that have spooked markets of late, given a relative dearth of the worst-hit sectors such as technology.Such factors are providing a catalyst to historically low valuations. The Euro Stoxx 50 Index trades at about 17.6 times 12-month earnings, compared with 21 times for the S&P 500, and 26 times for the Nasdaq. Unlike most global indexes, it has yet to reach its record high or even surpass its 2008 peak.Europe’s recent outperformance is only just starting to get the attention of market players. Credit Suisse raised continental European stocks to overweight on Thursday, citing catch-up potential for the region’s economic growth that has lagged the U.S., its exposure to the green energy boom and low investor positioning compared to other regions.Morgan Stanley favors European equities over the U.S. on earnings recovery as the Biden administration plans to boost corporate taxes. And U.S. investment management firm Eaton Vance is “significantly” overweight Europe in global and international equity portfolios, according to Chris Dyer, director of global equity, who sees the region’s outperformance continuing versus the U.S.Equity InflowsAccording to Bank of America and EPFR Global data, European equity funds have attracted inflows over the past six weeks. Yet there’s still a long way to go to catch up with peers. For 2021 to date, the region has attracted just $4.8 billion compared with a whopping $181 billion plowed into U.S. equity funds. Last year, investors pulled about $43 billion from European stock funds, the most among major regions.International investors are also voting for euro-area equities by piling into exchange-traded funds. The U.S.-listed SPDR EURO STOXX 50 ETF is set for its biggest month of inflows since 2017 with about $300 million new additions in May, while the iShares MSCI Eurozone ETF this week had its largest single-day inflow of $187 million since October 2019.To be sure, strategists surveyed by Bloomberg see limited scope for gains from current levels by the end of 2021, with the average forecast of 4,012 for the Euro Stoxx 50, down 0.3% from the Friday close. This kind of market might favor stock pickers over index followers.Newton’s Doyle likes automakers such as Volkswagen AG, which can thrive on the adoption of electric vehicles, energy firms such as RWE AG that are making a push for a green-energy transition, and low-cost airline Ryanair Holdings Plc, which she expects to benefit from rising passenger volumes as travel resumes. Volkswagen is down 12% from its April peak and up 42% year-to-date, while RWE has fallen 5.6% this year and Ryanair is down 0.2%.‘Final Unlocking’Luke Newman, who runs long-short funds at Janus Henderson Investors, says he’s net long euro-area equities and net-short the U.S. market because Europe is only now entering the “final unlocking.”READ: More Than 1.54 Billion Shots Given: Covid-19 Vaccine Tracker“Within the unlocking trade, continental Europe has lagged the U.S. and U.K. given the infections waves and vaccine rollouts,” Newman said in a video interview. “We feel that now is the time when the market is prepared to look out not necessarily at this year, but at 2022 and 2023, and start to assume recovery for those less-favored unlocking areas of the market.”He sees Safran SA, a French aircraft engine manufacturer, which is up just 3.4% this year, and Sodexo SA, a French food services and facilities management company, which has gained 13% in 2021 but is down 10% from its March peak, as some of the companies that can benefit from the rebound.Kevin Thozet, member of the investment committee at Carmignac, says the European market is in a “sweet spot” due to its balance of cyclical and quality names, such as luxury companies, which represent a large part of the index. The French asset manager with 39 billion euros ($48 billion) under management holds shares that include LVMH, Hermes International and Ferrari NV, in addition to Safran and Ryanair.“The big attraction in the U.S. was, for a very long time, the technology sector. There are tech companies in Europe, but they aren’t as important. This didn’t help European equities in the past, but there’s a rotation in place right now and Europe benefits,” Thozet said in an interview.Fiscal and monetary stimulus, along with a rebound in consumer spending, should enable economic activity in the euro area to return to pre-Covid levels by late 2021, according to Wei Li, global chief investment strategist at the BlackRock Investment Institute. BlackRock lifted euro-area equities to neutral in February and prefers them to the European credit market.“In addition to a more positive macro backdrop, we see valuations in the euro area as supportive,” she said by email. “We still expect a rapid activity restart beginning in the second half of this year.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}