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2023-10-28

Is recession coming?

2023-09-21

$Lendlease Global Commercial REIT(JYEU.SI)$ Is the bottom over?

2023-03-21

Ok

@Elliottwave_Forecast:Rally in $SPX Expected to Fail According to Elliott Wave March 21, 2023 By EWFHendra S&P 500 (SPX) rally from 10.13.2022 low was in 3 swing and ended wave (2) at 4194.16 as the 1 hour chart below shows. Wave (3) lower is now in progress as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave ((i)) ended at 3943.08 and rally in wave ((ii)) ended at 4078.49. The Index extended lower again in wave ((iii)) towards 3842.91 and rally in wave ((iv)) ended at 3937.27. Final leg lower wave ((v)) ended at 3838.24 which completed wave 1. Wave 2 rally is now in progress to correct cycle from 2.3.2023 high. Internal of wave 2 is in progress as a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 3964.46 and pullback in wave ((b)) ended at 3901.27. Final leg higher wave

2023-01-03

Ok

@MHh:My last trade was long $MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$ . As with the other SREITs, its price has been hit badly due to rate hikes. The reit is however, still sound and it pays good dividends. So my strategy is to buy while the price is badly beaten down and get dividends while waiting for its price to reboundback to at least the $2.80-$3 range and for me to dollar cost average down to enjoy great capital gains later on. Of course, to be able to use a stock voucherfrom Tiger that was redeemed using my coins made it more attractive[Grin] [Grin]

2022-12-13

$Straits Times Index(STI.SI)$

2022-12-12

$DJIA(.DJI)$ Coming soon

2022-12-11

$Straits Times Index(STI.SI)$

2022-12-10

2022-12-06

$Straits Times Index(STI.SI)$

2022-12-05

$Straits Times Index(STI.SI)$

2022-12-05

Ok

Costco, GameStop, Broadcom, Li Auto and Other Stocks to Watch This Week

2022-12-04

$NASDAQ(.IXIC)$

2022-12-02

$IFAST CORPORATION LTD.(AIY.SI)$

2022-12-01

$DJIA(.DJI)$ Ressesion coming

2022-12-01

Ok

Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December

2022-11-30

$Straits Times Index(STI.SI)$

2022-11-29

$Straits Times Index(STI.SI)$

2022-11-28

2022-11-26

2022-11-25

Go to Tiger App to see more news

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recession coming?&nbsp;","listText":"Is recession coming?&nbsp;","text":"Is recession coming?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/235165394284576","isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":222114287358088,"gmtCreate":1695254422594,"gmtModify":1695254425422,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/JYEU.SI\">$Lendlease Global Commercial REIT(JYEU.SI)$&nbsp;</a> Is the bottom over?&nbsp;","listText":"<a href=\"https://ttm.financial/S/JYEU.SI\">$Lendlease Global Commercial REIT(JYEU.SI)$&nbsp;</a> Is the bottom over?&nbsp;","text":"$Lendlease Global Commercial REIT(JYEU.SI)$ Is the bottom over?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/222114287358088","isVote":1,"tweetType":1,"viewCount":185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9943635851,"gmtCreate":1679400788473,"gmtModify":1679400791938,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943635851","repostId":"9943636056","repostType":1,"repost":{"id":9943636056,"gmtCreate":1679399660976,"gmtModify":1679399799264,"author":{"id":"4113409820866582","authorId":"4113409820866582","name":"Elliottwave_Forecast","avatar":"https://community-static.tradeup.com/news/c00ab1fc45e212abf00117a41ad8354f","crmLevel":1,"crmLevelSwitch":0},"themes":[],"title":"Rally in $SPX Expected to Fail According to Elliott Wave","htmlText":"\n \n \n  Rally in $SPX Expected to Fail According to Elliott Wave March 21, 2023 By EWFHendra S&amp;P 500 (SPX) rally from 10.13.2022 low was in 3 swing and ended wave (2) at 4194.16 as the 1 hour chart below shows. Wave (3) lower is now in progress as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave ((i)) ended at 3943.08 and rally in wave ((ii)) ended at 4078.49. The Index extended lower again in wave ((iii)) towards 3842.91 and rally in wave ((iv)) ended at 3937.27. Final leg lower wave ((v)) ended at 3838.24 which completed wave 1. Wave 2 rally is now in progress to correct cycle from 2.3.2023 high. Internal of wave 2 is in progress as a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 3964.46 and pullback in wave ((b)) ended at 3901.27. Final leg higher wave\n \n","listText":"Rally in $SPX Expected to Fail According to Elliott Wave March 21, 2023 By EWFHendra S&amp;P 500 (SPX) rally from 10.13.2022 low was in 3 swing and ended wave (2) at 4194.16 as the 1 hour chart below shows. Wave (3) lower is now in progress as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave ((i)) ended at 3943.08 and rally in wave ((ii)) ended at 4078.49. The Index extended lower again in wave ((iii)) towards 3842.91 and rally in wave ((iv)) ended at 3937.27. Final leg lower wave ((v)) ended at 3838.24 which completed wave 1. Wave 2 rally is now in progress to correct cycle from 2.3.2023 high. Internal of wave 2 is in progress as a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 3964.46 and pullback in wave ((b)) ended at 3901.27. Final leg higher wave","text":"Rally in $SPX Expected to Fail According to Elliott Wave March 21, 2023 By EWFHendra S&P 500 (SPX) rally from 10.13.2022 low was in 3 swing and ended wave (2) at 4194.16 as the 1 hour chart below shows. Wave (3) lower is now in progress as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave ((i)) ended at 3943.08 and rally in wave ((ii)) ended at 4078.49. The Index extended lower again in wave ((iii)) towards 3842.91 and rally in wave ((iv)) ended at 3937.27. Final leg lower wave ((v)) ended at 3838.24 which completed wave 1. Wave 2 rally is now in progress to correct cycle from 2.3.2023 high. Internal of wave 2 is in progress as a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 3964.46 and pullback in wave ((b)) ended at 3901.27. Final leg higher wave","images":[{"img":"https://community-static.tradeup.com/news/81ec2a48020be79f305f1969d2f2c565","width":"0","height":"0"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943636056","isVote":1,"tweetType":2,"object":{"id":"6aff6b983b8e47099a5edfbd4714f6f2","tweetId":"9943636056","videoUrl":"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/65fe6efb243791580359318837/5mtyeSuLkusA.mp4","poster":"https://community-static.tradeup.com/news/81ec2a48020be79f305f1969d2f2c565"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":242,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9950174113,"gmtCreate":1672709425932,"gmtModify":1676538722905,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9950174113","repostId":"9950175129","repostType":1,"repost":{"id":9950175129,"gmtCreate":1672709213762,"gmtModify":1676538722882,"author":{"id":"4091758936365950","authorId":"4091758936365950","name":"MHh","avatar":"https://static.tigerbbs.com/54b2feced9ef5dcc9e95997d1f4db280","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"My last trade was long&nbsp;<a href=\"https://ttm.financial/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$&nbsp;</a>. As with the other SREITs, its price has been hit badly due to rate hikes. The reit is however, still sound and it pays good dividends. So my strategy is to buy while the price is badly beaten down and get dividends while waiting for its price to reboundback to at least the $2.80-$3 range and for me to dollar cost average down to enjoy great capital gains later on. Of course, to be able to use a stock voucherfrom Tiger that was redeemed using my coins made it more attractive[Grin]&nbsp;[Grin]&nbsp;","listText":"My last trade was long&nbsp;<a href=\"https://ttm.financial/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$&nbsp;</a>. As with the other SREITs, its price has been hit badly due to rate hikes. The reit is however, still sound and it pays good dividends. So my strategy is to buy while the price is badly beaten down and get dividends while waiting for its price to reboundback to at least the $2.80-$3 range and for me to dollar cost average down to enjoy great capital gains later on. Of course, to be able to use a stock voucherfrom Tiger that was redeemed using my coins made it more attractive[Grin]&nbsp;[Grin]&nbsp;","text":"My last trade was long $MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$ . As with the other SREITs, its price has been hit badly due to rate hikes. The reit is however, still sound and it pays good dividends. So my strategy is to buy while the price is badly beaten down and get dividends while waiting for its price to reboundback to at least the $2.80-$3 range and for me to dollar cost average down to enjoy great capital gains later on. Of course, to be able to use a stock voucherfrom Tiger that was redeemed using my coins made it more attractive[Grin] [Grin]","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9950175129","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923417244,"gmtCreate":1670893787988,"gmtModify":1676538454855,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/STI.SI\">$Straits Times Index(STI.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a 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Index(STI.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923020123","isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929244813,"gmtCreate":1670687501832,"gmtModify":1676538417447,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/.DJI\">$DJIA(.DJI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a href=\"https://ttm.financial/S/.DJI\">$DJIA(.DJI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","text":"$DJIA(.DJI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929244813","isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967146287,"gmtCreate":1670287938350,"gmtModify":1676538336924,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/STI.SI\">$Straits Times Index(STI.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a href=\"https://ttm.financial/S/STI.SI\">$Straits Times Index(STI.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","text":"$Straits Times 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Index(STI.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9964737229","isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964734241,"gmtCreate":1670206074884,"gmtModify":1676538320130,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9964734241","repostId":"1174945241","repostType":4,"repost":{"id":"1174945241","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1670194470,"share":"https://www.laohu8.com/m/news/1174945241?lang=&edition=full","pubTime":"2022-12-05 06:54","market":"us","language":"en","title":"Costco, GameStop, Broadcom, Li Auto and Other Stocks to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1174945241","media":"Dow Jones","summary":"It’s a relatively quiet week on the earnings and economic data fronts, but with several notable rele","content":"<html><head></head><body><p>It’s a relatively quiet week on the earnings and economic data fronts, but with several notable releases still coming.</p><p>Earnings reports will include AutoZone on Tuesday, then GameStop, Campbell Soup, and Brown-Forman on Wednesday. On Thursday, Costco Wholesale, Chewy, Lululemon Athletica, and Broadcom will release results.</p><p>Lowe’s and General Electric will host investor days on Wednesday and Thursday, respectively.</p><p>Li Auto willl will release results on Friday.<img src=\"https://static.tigerbbs.com/28abc954db905bad6ba34ece42e87fc0\" tg-width=\"2044\" tg-height=\"1448\" referrerpolicy=\"no-referrer\"/></p><p>Economic data out this week will include the Institute for Supply Management’s Services Purchasing Managers’ Index for November on Monday. That’s expected to decline to 53, which would be the index’s lowest reading since May 2020.</p><p>Other economic data out this week will include the Bureau of Labor Statistics’ producer price index for November. Economists are looking for a rise of 7.2% from a year earlier for the headline index and a 5.9% one-year increase in the core PPI, which excludes food and energy prices.</p><p>Also on Friday, the University of Michigan will release its Consumer Sentiment Index for December, which is expected to tick up from November.</p><p><img src=\"https://static.tigerbbs.com/e6ea15c7cd71a2cb120d389147fdb7b2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><h2>Monday 12/05</h2><p><b>The Institute for Supply</b> Management releases its Services Purchasing Managers’ Index for November. The consensus estimate is for a 53 reading, slightly lower than October’s 54.4. That was the lowest figure for the index since May 2020, as the services sector of the economy continues to slow.</p><h2>Tuesday 12/06</h2><p>AutoZone releases first-quarter fiscal-2023 results.</p><p>Fortune Brands &amp; Home Security and Norfolk Southern hold their 2022 investor days.</p><h2>Wednesday 12/07</h2><p>Brown-Forman, Campbell Soup, and GameStop report earnings.</p><p>International Flavors &amp; Fragrances and Southwest Airlines host their annual investor days.</p><p>Lowe’s holds its 2022 analyst and investor conference in New York. The company is expected to provide long-term financial targets.</p><p><b>The Federal Reserve r</b>eports consumer credit data for October. In September, total consumer debt rose at a seasonally adjusted annual rate of 6.4% and topped $4.7 trillion for the first time.</p><h2>Thursday 12/08</h2><p>Costco Wholesale reports first-quarter fiscal 2023 earnings. Shares of the membership-club discount retailer fell 7.3% this past week, as November sales, released on Wednesday, came up short of expectations.</p><p>Broadcom, Chewy, Cooper Cos., and Lululemon Athletica hold conference calls to discuss quarterly results.</p><p>General Electric holds an investor day in New York to discuss the GE HealthCare spinoff. GE shareholders will receive one share of GE HealthCare for every three shares owned. The spinoff is slated to take effect after the market close on Jan. 3, 2023. GE HealthCare will trade under the ticker GEHC on the Nasdaq exchange.</p><p>Cisco Systems and Medtronic hold their annual shareholder meetings.</p><p><b>The Department of Labor</b> reports initial jobless claims for the week ending on Dec. 3. Jobless claims averaged 228,750 in November and have crept higher from historically low levels since earlier this March.</p><h2>Friday 12/09</h2><p><b>The Bureau of Labor</b> Statistics releases the producer price index for November. Economists forecast the PPI to rise 7.2%, year over year, after an 8% jump in October. The core PPI, which excludes volatile food and energy prices, is expected to increase 5.9%, slower than the 6.7% gain previously. Softer-than-expected CPI and PPI readings in the past month have raised hopes that the Fed pivot—or at least pause—is almost here.</p><p><b>The University of Michigan</b> releases its Consumer Sentiment Index for December. The consensus estimate is for a 57.5 reading, about one point above November’s.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Costco, GameStop, Broadcom, Li Auto and Other Stocks to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCostco, GameStop, Broadcom, Li Auto and Other Stocks to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-12-05 06:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>It’s a relatively quiet week on the earnings and economic data fronts, but with several notable releases still coming.</p><p>Earnings reports will include AutoZone on Tuesday, then GameStop, Campbell Soup, and Brown-Forman on Wednesday. On Thursday, Costco Wholesale, Chewy, Lululemon Athletica, and Broadcom will release results.</p><p>Lowe’s and General Electric will host investor days on Wednesday and Thursday, respectively.</p><p>Li Auto willl will release results on Friday.<img src=\"https://static.tigerbbs.com/28abc954db905bad6ba34ece42e87fc0\" tg-width=\"2044\" tg-height=\"1448\" referrerpolicy=\"no-referrer\"/></p><p>Economic data out this week will include the Institute for Supply Management’s Services Purchasing Managers’ Index for November on Monday. That’s expected to decline to 53, which would be the index’s lowest reading since May 2020.</p><p>Other economic data out this week will include the Bureau of Labor Statistics’ producer price index for November. Economists are looking for a rise of 7.2% from a year earlier for the headline index and a 5.9% one-year increase in the core PPI, which excludes food and energy prices.</p><p>Also on Friday, the University of Michigan will release its Consumer Sentiment Index for December, which is expected to tick up from November.</p><p><img src=\"https://static.tigerbbs.com/e6ea15c7cd71a2cb120d389147fdb7b2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><h2>Monday 12/05</h2><p><b>The Institute for Supply</b> Management releases its Services Purchasing Managers’ Index for November. The consensus estimate is for a 53 reading, slightly lower than October’s 54.4. That was the lowest figure for the index since May 2020, as the services sector of the economy continues to slow.</p><h2>Tuesday 12/06</h2><p>AutoZone releases first-quarter fiscal-2023 results.</p><p>Fortune Brands &amp; Home Security and Norfolk Southern hold their 2022 investor days.</p><h2>Wednesday 12/07</h2><p>Brown-Forman, Campbell Soup, and GameStop report earnings.</p><p>International Flavors &amp; Fragrances and Southwest Airlines host their annual investor days.</p><p>Lowe’s holds its 2022 analyst and investor conference in New York. The company is expected to provide long-term financial targets.</p><p><b>The Federal Reserve r</b>eports consumer credit data for October. In September, total consumer debt rose at a seasonally adjusted annual rate of 6.4% and topped $4.7 trillion for the first time.</p><h2>Thursday 12/08</h2><p>Costco Wholesale reports first-quarter fiscal 2023 earnings. Shares of the membership-club discount retailer fell 7.3% this past week, as November sales, released on Wednesday, came up short of expectations.</p><p>Broadcom, Chewy, Cooper Cos., and Lululemon Athletica hold conference calls to discuss quarterly results.</p><p>General Electric holds an investor day in New York to discuss the GE HealthCare spinoff. GE shareholders will receive one share of GE HealthCare for every three shares owned. The spinoff is slated to take effect after the market close on Jan. 3, 2023. GE HealthCare will trade under the ticker GEHC on the Nasdaq exchange.</p><p>Cisco Systems and Medtronic hold their annual shareholder meetings.</p><p><b>The Department of Labor</b> reports initial jobless claims for the week ending on Dec. 3. Jobless claims averaged 228,750 in November and have crept higher from historically low levels since earlier this March.</p><h2>Friday 12/09</h2><p><b>The Bureau of Labor</b> Statistics releases the producer price index for November. Economists forecast the PPI to rise 7.2%, year over year, after an 8% jump in October. The core PPI, which excludes volatile food and energy prices, is expected to increase 5.9%, slower than the 6.7% gain previously. Softer-than-expected CPI and PPI readings in the past month have raised hopes that the Fed pivot—or at least pause—is almost here.</p><p><b>The University of Michigan</b> releases its Consumer Sentiment Index for December. The consensus estimate is for a 57.5 reading, about one point above November’s.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","COST":"好市多","LI":"理想汽车","AVGO":"博通","CHWY":"Chewy, Inc.",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","LULU":"lululemon athletica","GME":"游戏驿站"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174945241","content_text":"It’s a relatively quiet week on the earnings and economic data fronts, but with several notable releases still coming.Earnings reports will include AutoZone on Tuesday, then GameStop, Campbell Soup, and Brown-Forman on Wednesday. On Thursday, Costco Wholesale, Chewy, Lululemon Athletica, and Broadcom will release results.Lowe’s and General Electric will host investor days on Wednesday and Thursday, respectively.Li Auto willl will release results on Friday.Economic data out this week will include the Institute for Supply Management’s Services Purchasing Managers’ Index for November on Monday. That’s expected to decline to 53, which would be the index’s lowest reading since May 2020.Other economic data out this week will include the Bureau of Labor Statistics’ producer price index for November. Economists are looking for a rise of 7.2% from a year earlier for the headline index and a 5.9% one-year increase in the core PPI, which excludes food and energy prices.Also on Friday, the University of Michigan will release its Consumer Sentiment Index for December, which is expected to tick up from November.Monday 12/05The Institute for Supply Management releases its Services Purchasing Managers’ Index for November. The consensus estimate is for a 53 reading, slightly lower than October’s 54.4. That was the lowest figure for the index since May 2020, as the services sector of the economy continues to slow.Tuesday 12/06AutoZone releases first-quarter fiscal-2023 results.Fortune Brands & Home Security and Norfolk Southern hold their 2022 investor days.Wednesday 12/07Brown-Forman, Campbell Soup, and GameStop report earnings.International Flavors & Fragrances and Southwest Airlines host their annual investor days.Lowe’s holds its 2022 analyst and investor conference in New York. The company is expected to provide long-term financial targets.The Federal Reserve reports consumer credit data for October. In September, total consumer debt rose at a seasonally adjusted annual rate of 6.4% and topped $4.7 trillion for the first time.Thursday 12/08Costco Wholesale reports first-quarter fiscal 2023 earnings. Shares of the membership-club discount retailer fell 7.3% this past week, as November sales, released on Wednesday, came up short of expectations.Broadcom, Chewy, Cooper Cos., and Lululemon Athletica hold conference calls to discuss quarterly results.General Electric holds an investor day in New York to discuss the GE HealthCare spinoff. GE shareholders will receive one share of GE HealthCare for every three shares owned. The spinoff is slated to take effect after the market close on Jan. 3, 2023. GE HealthCare will trade under the ticker GEHC on the Nasdaq exchange.Cisco Systems and Medtronic hold their annual shareholder meetings.The Department of Labor reports initial jobless claims for the week ending on Dec. 3. Jobless claims averaged 228,750 in November and have crept higher from historically low levels since earlier this March.Friday 12/09The Bureau of Labor Statistics releases the producer price index for November. Economists forecast the PPI to rise 7.2%, year over year, after an 8% jump in October. The core PPI, which excludes volatile food and energy prices, is expected to increase 5.9%, slower than the 6.7% gain previously. Softer-than-expected CPI and PPI readings in the past month have raised hopes that the Fed pivot—or at least pause—is almost here.The University of Michigan releases its Consumer Sentiment Index for December. The consensus estimate is for a 57.5 reading, about one point above November’s.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964289350,"gmtCreate":1670158947070,"gmtModify":1676538311557,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/.IXIC\">$NASDAQ(.IXIC)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a href=\"https://ttm.financial/S/.IXIC\">$NASDAQ(.IXIC)$&nbsp;</a><v-v data-views=\"0\"></v-v>","text":"$NASDAQ(.IXIC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9964289350","isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965675292,"gmtCreate":1669951197917,"gmtModify":1676538277073,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$IFAST CORPORATION LTD.(AIY.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965675292","isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965011608,"gmtCreate":1669856166805,"gmtModify":1676538257107,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/.DJI\">$DJIA(.DJI)$&nbsp;</a><v-v data-views=\"0\"></v-v> Ressesion coming&nbsp;","listText":"<a href=\"https://ttm.financial/S/.DJI\">$DJIA(.DJI)$&nbsp;</a><v-v data-views=\"0\"></v-v> Ressesion coming&nbsp;","text":"$DJIA(.DJI)$ Ressesion coming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965011608","isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965037676,"gmtCreate":1669855783695,"gmtModify":1676538256996,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9965037676","repostId":"1151360919","repostType":4,"repost":{"id":"1151360919","pubTimestamp":1669850170,"share":"https://www.laohu8.com/m/news/1151360919?lang=&edition=full","pubTime":"2022-12-01 07:16","market":"us","language":"en","title":"Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December","url":"https://stock-news.laohu8.com/highlight/detail?id=1151360919","media":"The Wall Street Journal","summary":"WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on t","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/0742c30af7ca0e2b2064f2e5c4a7b9ba\" tg-width=\"620\" tg-height=\"349\" referrerpolicy=\"no-referrer\"/>WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.</p><p>Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.</p><ul><li>Markets Live Blog: Stocks Swing to Gains, Bond Yields Fall During Powell Speech</li><li>Third-Quarter U.S. Growth Was Stronger Than Previously Thought</li><li>U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says</li></ul><p>Because the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said at an event at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.</p><p>Fed officialslifted their benchmark rate by 0.75 percentage point on Nov. 2to a range between 3.75% and 4%, which is up from near zero in early March. Many officials have signaled they are leaning toward approving a 0.5-point increase at their Dec. 13-14 meeting.</p><p>Investors have been eager for evidence that the central bank would slow its pace of rate rises, andmarkets ralliedafter Mr. Powell’s remarks. The Dow Jones Industrial Average rose 2.2%, or about 735 points, enough to put the index back in a bull market, defined as a 20% rise from a recent low. The yield on the benchmark 10-year Treasury note declined to 3.699% Wednesday from 3.746% Tuesday.</p><p>Mr. Powell suggested Fed officials were moving into a new phase of policy tightening in which they would try to judge just how high rates need to rise. “My colleagues and I do not want to overtighten because … cutting rates is not something we want to do soon,” he said. “That’s why we’re slowing down, and I’m going to try to find our way to what that right level is.”</p><p>Mr. Powell reviewed signs of progress on the inflation fight, including a slowdown in interest-rate sensitive sectors of the economy such as housing and improving supply-chain conditions. But he said that declines in rents and goods prices might be insufficient if firms don’t slow their hiring to bring the strong demand for labor into better balance with a shortfall in the supply of workers.</p><p>Labor demand has eased some in recent months.Job openingstotaled a seasonally adjusted 10.3 million in October, the Labor Department reported Wednesday. That was down from 10.7 million in September but far exceeded the 6.1 million unemployed people seeking work in October.</p><p>The labor market “shows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2% inflation,” Mr. Powell said. “Despite some promising developments, we have a long way to go in restoring price stability.”</p><p>The Fed has raised interest rates this year at the most rapid pace since the early 1980s to battle inflation that is running near a 40-year high. Officials seek to reduce inflation by slowing the economy through tighter financial conditions—such as higher borrowing costs, lower stock prices and a stronger dollar—which typically curb demand.</p><p>The U.S. economy shrank slightly in the first half of this year, but grew more briskly in the third quarter than previously estimated. Gross domestic product increased at an inflation-adjustedannual rate of 2.9%from July through September, up from an initial estimate of 2.6%, the Commerce Department said Wednesday.</p><p>Awave of layoffshas rippled across industries such as tech, entertainment and real estate. CNN on Wednesdaysaid it is laying offemployees,DoorDashInc.said it would cut staffandAMC NetworksInc. said in a memo to employees thatit plans to lay off about 20% of its workforce.</p><p>A big question now for the Fed is how much further to raise rates. Some officials are concerned about causing unnecessary damage to the economy and labor market because it takes time for the full effects of those increases to ripple through the economy.</p><p>Other policy makers are concerned that price pressures could stay high because, despite improvements in supply chains and commodity markets, prices have picked up for more labor-intensive services.</p><p>Mr. Powell pushed back against concerns that the Fed was raising rates too aggressively by warning that allowing rapid price increases to persist could cause consumers to expect continued high inflation, making it more entrenched.</p><p>“It can’t be that we can go on for five years at a very high level of inflation and that it doesn’t work its way into the wage- and price-setting process pretty quickly. That’s a serious concern,” he said.</p><p>Mr. Powell repeated his earlier view that officials were likely to raise rates to a somewhat higher level early next year than they had anticipated in projections released after their September meeting, when most officials saw their benchmark rate rising to between 4.5% and 5%.</p><p>Mr. Powell focused part of his remarks on exploring why the share of Americans seeking work remains below its prepandemic level. The analysis carries important implications for setting interest rates because if wage pressures remain stronger in the coming years, that could lead to a period of greater volatility in wages, inflation and borrowing costs.</p><p>Mr. Powell said most of the shortfall appears to reflect older Americanswho retired earlywhen the pandemic hit the U.S. in March 2020 and from slower growth in the working-age population, which he said could reflect reduced levels of legal immigration and a surge in deaths during the pandemic.</p><p>Steps to boost workforce participation aren’t controlled by the Fed and wouldn’t be able to take effect rapidly enough to address the current bout of high inflation, Mr. Powell said.</p><p>The upshot is that Fed policy will seek to slow inflation and wage growth by reducing demand for workers, a subject that Mr. Powell addressed delicately on Wednesday. “For the near term, a moderation of labor demand growth will be required to restore balance to the labor market,” he said.</p><p>While strong wage growth “is a good thing,” he implied it is too high right now to support a return to the Fed’s 2% inflation target. “For wage growth to be sustainable, it needs to be consistent with 2% inflation,” he said.</p><p>Mr. Powell said the Fed’s preferred measure of inflation, the personal-consumption expenditures price index, likely rose around 6% in October from a year earlier, down from 6.2% in September. The Commerce Department is set to release October figures on Thursday. When stripped of volatile food and energy prices, the so-called core index likely increased around 5%, down from 5.1% in September, he said.</p><p>Separately, Treasury Secretary Janet Yellen said on Wednesday that inflation could come down without broad layoffs occurring across the economy if companies slow hiring by reducing the number of unfilled jobs they are trying to fill.</p><p>The Labor Department is set to release its November employment report on Friday, which will include details on hiring, wage growth and joblessness. The unemployment ratestood at 3.7%in October.</p><p>A jobless rate between 4% and 5% would still indicate a robust labor market, Ms. Yellen said at a New York Times event. “I think we can make a lot of progress in the labor market just on the hiring...and job-opening side. I don’t think it’s necessary to see very substantial layoffs,” she added.</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December</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\">\nJerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-01 07:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an ...</p>\n\n<a href=\"https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151360919","content_text":"WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.Markets Live Blog: Stocks Swing to Gains, Bond Yields Fall During Powell SpeechThird-Quarter U.S. Growth Was Stronger Than Previously ThoughtU.S. Economic Growth Slowed This Fall, Fed’s Beige Book SaysBecause the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said at an event at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.Fed officialslifted their benchmark rate by 0.75 percentage point on Nov. 2to a range between 3.75% and 4%, which is up from near zero in early March. Many officials have signaled they are leaning toward approving a 0.5-point increase at their Dec. 13-14 meeting.Investors have been eager for evidence that the central bank would slow its pace of rate rises, andmarkets ralliedafter Mr. Powell’s remarks. The Dow Jones Industrial Average rose 2.2%, or about 735 points, enough to put the index back in a bull market, defined as a 20% rise from a recent low. The yield on the benchmark 10-year Treasury note declined to 3.699% Wednesday from 3.746% Tuesday.Mr. Powell suggested Fed officials were moving into a new phase of policy tightening in which they would try to judge just how high rates need to rise. “My colleagues and I do not want to overtighten because … cutting rates is not something we want to do soon,” he said. “That’s why we’re slowing down, and I’m going to try to find our way to what that right level is.”Mr. Powell reviewed signs of progress on the inflation fight, including a slowdown in interest-rate sensitive sectors of the economy such as housing and improving supply-chain conditions. But he said that declines in rents and goods prices might be insufficient if firms don’t slow their hiring to bring the strong demand for labor into better balance with a shortfall in the supply of workers.Labor demand has eased some in recent months.Job openingstotaled a seasonally adjusted 10.3 million in October, the Labor Department reported Wednesday. That was down from 10.7 million in September but far exceeded the 6.1 million unemployed people seeking work in October.The labor market “shows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2% inflation,” Mr. Powell said. “Despite some promising developments, we have a long way to go in restoring price stability.”The Fed has raised interest rates this year at the most rapid pace since the early 1980s to battle inflation that is running near a 40-year high. Officials seek to reduce inflation by slowing the economy through tighter financial conditions—such as higher borrowing costs, lower stock prices and a stronger dollar—which typically curb demand.The U.S. economy shrank slightly in the first half of this year, but grew more briskly in the third quarter than previously estimated. Gross domestic product increased at an inflation-adjustedannual rate of 2.9%from July through September, up from an initial estimate of 2.6%, the Commerce Department said Wednesday.Awave of layoffshas rippled across industries such as tech, entertainment and real estate. CNN on Wednesdaysaid it is laying offemployees,DoorDashInc.said it would cut staffandAMC NetworksInc. said in a memo to employees thatit plans to lay off about 20% of its workforce.A big question now for the Fed is how much further to raise rates. Some officials are concerned about causing unnecessary damage to the economy and labor market because it takes time for the full effects of those increases to ripple through the economy.Other policy makers are concerned that price pressures could stay high because, despite improvements in supply chains and commodity markets, prices have picked up for more labor-intensive services.Mr. Powell pushed back against concerns that the Fed was raising rates too aggressively by warning that allowing rapid price increases to persist could cause consumers to expect continued high inflation, making it more entrenched.“It can’t be that we can go on for five years at a very high level of inflation and that it doesn’t work its way into the wage- and price-setting process pretty quickly. That’s a serious concern,” he said.Mr. Powell repeated his earlier view that officials were likely to raise rates to a somewhat higher level early next year than they had anticipated in projections released after their September meeting, when most officials saw their benchmark rate rising to between 4.5% and 5%.Mr. Powell focused part of his remarks on exploring why the share of Americans seeking work remains below its prepandemic level. The analysis carries important implications for setting interest rates because if wage pressures remain stronger in the coming years, that could lead to a period of greater volatility in wages, inflation and borrowing costs.Mr. Powell said most of the shortfall appears to reflect older Americanswho retired earlywhen the pandemic hit the U.S. in March 2020 and from slower growth in the working-age population, which he said could reflect reduced levels of legal immigration and a surge in deaths during the pandemic.Steps to boost workforce participation aren’t controlled by the Fed and wouldn’t be able to take effect rapidly enough to address the current bout of high inflation, Mr. Powell said.The upshot is that Fed policy will seek to slow inflation and wage growth by reducing demand for workers, a subject that Mr. Powell addressed delicately on Wednesday. “For the near term, a moderation of labor demand growth will be required to restore balance to the labor market,” he said.While strong wage growth “is a good thing,” he implied it is too high right now to support a return to the Fed’s 2% inflation target. “For wage growth to be sustainable, it needs to be consistent with 2% inflation,” he said.Mr. Powell said the Fed’s preferred measure of inflation, the personal-consumption expenditures price index, likely rose around 6% in October from a year earlier, down from 6.2% in September. The Commerce Department is set to release October figures on Thursday. When stripped of volatile food and energy prices, the so-called core index likely increased around 5%, down from 5.1% in September, he said.Separately, Treasury Secretary Janet Yellen said on Wednesday that inflation could come down without broad layoffs occurring across the economy if companies slow hiring by reducing the number of unfilled jobs they are trying to fill.The Labor Department is set to release its November employment report on Friday, which will include details on hiring, wage growth and joblessness. The unemployment ratestood at 3.7%in October.A jobless rate between 4% and 5% would still indicate a robust labor market, Ms. Yellen said at a New York Times event. “I think we can make a lot of progress in the labor market just on the hiring...and job-opening side. I don’t think it’s necessary to see very substantial layoffs,” she added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962664945,"gmtCreate":1669770673987,"gmtModify":1676538239264,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/STI.SI\">$Straits Times Index(STI.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","listText":"<a href=\"https://ttm.financial/S/STI.SI\">$Straits Times Index(STI.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>","text":"$Straits Times 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data-views=\"0\"></v-v>","text":"$DJIA(.DJI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9966073111","isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":222114287358088,"gmtCreate":1695254422594,"gmtModify":1695254425422,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/JYEU.SI\">$Lendlease Global Commercial REIT(JYEU.SI)$&nbsp;</a> Is the bottom over?&nbsp;","listText":"<a href=\"https://ttm.financial/S/JYEU.SI\">$Lendlease Global Commercial REIT(JYEU.SI)$&nbsp;</a> Is the bottom over?&nbsp;","text":"$Lendlease Global Commercial REIT(JYEU.SI)$ Is the bottom over?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/222114287358088","isVote":1,"tweetType":1,"viewCount":185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9016130477,"gmtCreate":1649142091980,"gmtModify":1676534458540,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9016130477","repostId":"2224132370","repostType":4,"repost":{"id":"2224132370","pubTimestamp":1649120728,"share":"https://www.laohu8.com/m/news/2224132370?lang=&edition=full","pubTime":"2022-04-05 09:05","market":"us","language":"en","title":"3 High-Yield Dividend Stocks to Buy in a Market Rebound","url":"https://stock-news.laohu8.com/highlight/detail?id=2224132370","media":"Motley Fool","summary":"It could be a good time to lock in these high yields.","content":"<html><head></head><body><p>Bad news tends to overshadow good news. That&#39;s especially the case when there has been a lot of bad news in recent weeks as we have experienced. However, there&#39;s now good news as well. The major stock market indices have been rising. None of them are in a bear market now -- and the <b>S&amp;P 500</b> is no longer in correction territory.</p><p>Income investors could especially have a great opportunity to lock in attractive dividend yields right now. Here are three high-yield dividend stocks to buy in a market rebound.</p><h2>1. Enterprise Products Partners</h2><p><b>Enterprise Products Partners</b> didn&#39;t sink as most stocks have in recent months. The major midstream energy company&#39;s shares are up close to 18% year to date.</p><p>This solid gain makes sense considering the current overall dynamics of the oil and gas industry. Prices have risen in part due to worries about the Russian invasion of Ukraine. However, the demand for oil and gas has also increased as the global economy recovers from the impact of the COVID-19 pandemic.</p><p>Enterprise has been a key beneficiary of these tailwinds with its pipelines, natural gas processing facilities, and storage facilities. It should also profit further if the stock market continues to rebound and economic uncertainties fade. But even if not, Enterprise is a stock that should hold up well no matter what the market does.</p><p>The company offers a juicy dividend yield of 7.2%. Enterprise has also increased its distribution for 23 consecutive years. There aren&#39;t too many high-yield dividend stocks with such an impressive track record.</p><h2>2. <a href=\"https://laohu8.com/S/MPW\">Medical Properties Trust</a></h2><p><b>Medical Properties Trust</b> stock hasn&#39;t fared quite so well. Its shares are still down around 9% year to date after beginning to bounce back in mid-March. However, the company&#39;s underlying business hasn&#39;t skipped a beat.</p><p>That underlying business is owning and leasing hospitals. Medical Properties Trust is a real estate investment trust (REIT) with around 440 facilities in its portfolio. Roughly 60% of these properties are in the U.S. with the remaining hospitals in eight other countries -- primarily in Europe.</p><p>As you might expect, Medical Properties Trust&#39;s lease revenue doesn&#39;t rise or fall based on stock market gyrations. Higher inflation rates shouldn&#39;t be a big problem, either. The REIT has rent escalators based on the Consumer Price Index built into more than 99% of its leases.</p><p>REITs are known for their dividends. Medical Properties Trust is no slouch on that front. Its dividend yield currently stands at nearly 5.5%. The company has increased its dividend for eight consecutive years.</p><h2>3. Verizon Communications</h2><p><b>Verizon Communications</b> claims a distinction that very few high-yield dividend stocks have: It&#39;s <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Warren Buffett&#39;s favorites. The telecom giant ranks as the eighth-largest holding in <b>Berkshire Hathaway</b>&#39;s portfolio.</p><p>Should you buy Verizon just because Buffett likes it? Of course not. However, it&#39;s a good idea to at least consider what an investor such as the Oracle of Omaha might find attractive about Verizon.</p><p>The dividend certainly stands out. Verizon&#39;s dividend yield tops 5%. The company has increased its dividend for 15 consecutive years. Verizon should easily be able to keep that streak going with a payout ratio of less than 48%.</p><p>Sure, Verizon probably won&#39;t deliver sizzling growth. However, the company could have better growth opportunities than you might think with its high-speed 5G network, especially in expanding further in the home internet market. There&#39;s more good news for Verizon than there is bad news.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 High-Yield Dividend Stocks to Buy in a Market Rebound</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 High-Yield Dividend Stocks to Buy in a Market Rebound\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-05 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/04/3-high-yield-dividend-stocks-to-buy-in-a-market-re/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bad news tends to overshadow good news. That's especially the case when there has been a lot of bad news in recent weeks as we have experienced. However, there's now good news as well. The major stock...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/04/3-high-yield-dividend-stocks-to-buy-in-a-market-re/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4176":"多领域控股","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4550":"红杉资本持仓","REIT":"ALPS Active REIT ETF","BRK.A":"伯克希尔","BRK.B":"伯克希尔B","BK4534":"瑞士信贷持仓"},"source_url":"https://www.fool.com/investing/2022/04/04/3-high-yield-dividend-stocks-to-buy-in-a-market-re/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2224132370","content_text":"Bad news tends to overshadow good news. That's especially the case when there has been a lot of bad news in recent weeks as we have experienced. However, there's now good news as well. The major stock market indices have been rising. None of them are in a bear market now -- and the S&P 500 is no longer in correction territory.Income investors could especially have a great opportunity to lock in attractive dividend yields right now. Here are three high-yield dividend stocks to buy in a market rebound.1. Enterprise Products PartnersEnterprise Products Partners didn't sink as most stocks have in recent months. The major midstream energy company's shares are up close to 18% year to date.This solid gain makes sense considering the current overall dynamics of the oil and gas industry. Prices have risen in part due to worries about the Russian invasion of Ukraine. However, the demand for oil and gas has also increased as the global economy recovers from the impact of the COVID-19 pandemic.Enterprise has been a key beneficiary of these tailwinds with its pipelines, natural gas processing facilities, and storage facilities. It should also profit further if the stock market continues to rebound and economic uncertainties fade. But even if not, Enterprise is a stock that should hold up well no matter what the market does.The company offers a juicy dividend yield of 7.2%. Enterprise has also increased its distribution for 23 consecutive years. There aren't too many high-yield dividend stocks with such an impressive track record.2. Medical Properties TrustMedical Properties Trust stock hasn't fared quite so well. Its shares are still down around 9% year to date after beginning to bounce back in mid-March. However, the company's underlying business hasn't skipped a beat.That underlying business is owning and leasing hospitals. Medical Properties Trust is a real estate investment trust (REIT) with around 440 facilities in its portfolio. Roughly 60% of these properties are in the U.S. with the remaining hospitals in eight other countries -- primarily in Europe.As you might expect, Medical Properties Trust's lease revenue doesn't rise or fall based on stock market gyrations. Higher inflation rates shouldn't be a big problem, either. The REIT has rent escalators based on the Consumer Price Index built into more than 99% of its leases.REITs are known for their dividends. Medical Properties Trust is no slouch on that front. Its dividend yield currently stands at nearly 5.5%. The company has increased its dividend for eight consecutive years.3. Verizon CommunicationsVerizon Communications claims a distinction that very few high-yield dividend stocks have: It's one of Warren Buffett's favorites. The telecom giant ranks as the eighth-largest holding in Berkshire Hathaway's portfolio.Should you buy Verizon just because Buffett likes it? Of course not. However, it's a good idea to at least consider what an investor such as the Oracle of Omaha might find attractive about Verizon.The dividend certainly stands out. Verizon's dividend yield tops 5%. The company has increased its dividend for 15 consecutive years. Verizon should easily be able to keep that streak going with a payout ratio of less than 48%.Sure, Verizon probably won't deliver sizzling growth. However, the company could have better growth opportunities than you might think with its high-speed 5G network, especially in expanding further in the home internet market. There's more good news for Verizon than there is bad news.","news_type":1},"isVote":1,"tweetType":1,"viewCount":93,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835489958,"gmtCreate":1629731616374,"gmtModify":1676530115967,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Hi&nbsp;","listText":"Hi&nbsp;","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/835489958","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9992923726,"gmtCreate":1661248718268,"gmtModify":1676536482510,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9992923726","repostId":"2261680510","repostType":4,"repost":{"id":"2261680510","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":1661247675,"share":"https://www.laohu8.com/m/news/2261680510?lang=&edition=full","pubTime":"2022-08-23 17:41","market":"us","language":"en","title":"Explainer: How Meme Stock Darling AMC's New Preferred Shares Work","url":"https://stock-news.laohu8.com/highlight/detail?id=2261680510","media":"Reuters","summary":"Aug 23 (Reuters) - AMC Entertainment Holdings Inc, the movie theater operator that investors have tu","content":"<html><head></head><body><p>Aug 23 (Reuters) - AMC Entertainment Holdings Inc, the movie theater operator that investors have turned into a meme stock, completed the listing of its new preferred shares on Monday, setting the stage for a potential capital raise.</p><p>The novel move allows AMC to sell potentially billions of dollars worth of shares without requiring approval from its shareholders, as it seeks to capitalize on the popularity of meme stocks - shares traded mostly based on social media hype rather than their economic fundamentals.</p><p>Here is what you need to know about AMC&#39;s new preferred shares.</p><p><b>WHAT ARE THE PREFERRED SHARES?</b></p><p>The preferred shares are a new class of shares that were given to holders of AMC&#39;s common stock this month as a dividend. One preferred share was issued for each common share.</p><p>The preferred shares have the same voting power and right to a dividend as common shares. They can be converted into common shares on a one-to-one basis, but only if AMC&#39;s board proposes this and AMC shareholders vote in favor of raising the number of authorized common shares to allow for the move.</p><p><b>WHY DID AMC ISSUE THE PREFERRED SHARES?</b></p><p>AMC said the new shares will be a &#34;currency&#34; that will allow it to raise money to pay down debt and carry out acquisitions and investments.</p><p>While it did not gain any proceeds from the issuance, AMC said it may sell preferred shares from now on, using the current listed preferred shares&#39; trading price as a benchmark.</p><p>AMC said its board can authorize the issuance of up to 5 billion preferred shares but it has so far approved only 1 billion. It has issued 516.8 million preferred shares this month, leaving it with 483.2 million it may sell in the near term.</p><p>The Leawood, Kansas-based company has declined to comment on when it might sell preferred shares to raise money. If it were to sell the 483.2 million at the listed preferred shares&#39; Monday closing price of $6, it would raise $2.9 billion.</p><p><b>CAN&#39;T AMC RAISE MONEY BY SELLING COMMON SHARES INSTEAD?</b></p><p>AMC could sell common shares but it requires shareholder approval to do so. It did not need to seek shareholder approval for the preferred share issue because it relied on an authorization granted to its board by its former owner, China&#39;s Dalian Wanda Group when it listed in 2013. Wanda is no longer an AMC shareholder.</p><p>In July 2021, AMC retracted a proposal for shareholders to approve the issuance of more common shares after it raised $1.8 billion by capitalizing on the meme stock frenzy. CEO Adam Aron cited investor opposition to more common stock sales, and AMC has not sought shareholder approval for a sale since.</p><p><b>WHY DID AMC COMMON SHARES PLUNGE WHEN PREFERRED SHARES STARTED TRADING?</b></p><p>AMC had warned that its common shares would drop as soon its preferred shares started trading on Monday because the stock dividend that delivered the preferred shares to investors acted as a stock split.</p><p>AMC&#39;s common shares ended down 42% at $10.46 on Monday. This fall - equivalent to a $7.56 per share decline - was more than the $6 that the preferred shares ended trading at, reflecting concerns about the company&#39;s future in the wake of peer Cineworld Group Plc&#39;s warning of a possible bankruptcy.</p><p>AMC tried to boost the popularity of the preferred shares with investors ahead of their launch. It listed them in New York under the ticker &#39;APE&#39;, a popular social media reference to meme stock enthusiasts. It also gave investors a free &#34;I OWN APE&#34; non-fungible token (NFT).</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Explainer: How Meme Stock Darling AMC's New Preferred Shares Work</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\">\nExplainer: How Meme Stock Darling AMC's New Preferred Shares Work\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-08-23 17:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Aug 23 (Reuters) - AMC Entertainment Holdings Inc, the movie theater operator that investors have turned into a meme stock, completed the listing of its new preferred shares on Monday, setting the stage for a potential capital raise.</p><p>The novel move allows AMC to sell potentially billions of dollars worth of shares without requiring approval from its shareholders, as it seeks to capitalize on the popularity of meme stocks - shares traded mostly based on social media hype rather than their economic fundamentals.</p><p>Here is what you need to know about AMC&#39;s new preferred shares.</p><p><b>WHAT ARE THE PREFERRED SHARES?</b></p><p>The preferred shares are a new class of shares that were given to holders of AMC&#39;s common stock this month as a dividend. One preferred share was issued for each common share.</p><p>The preferred shares have the same voting power and right to a dividend as common shares. They can be converted into common shares on a one-to-one basis, but only if AMC&#39;s board proposes this and AMC shareholders vote in favor of raising the number of authorized common shares to allow for the move.</p><p><b>WHY DID AMC ISSUE THE PREFERRED SHARES?</b></p><p>AMC said the new shares will be a &#34;currency&#34; that will allow it to raise money to pay down debt and carry out acquisitions and investments.</p><p>While it did not gain any proceeds from the issuance, AMC said it may sell preferred shares from now on, using the current listed preferred shares&#39; trading price as a benchmark.</p><p>AMC said its board can authorize the issuance of up to 5 billion preferred shares but it has so far approved only 1 billion. It has issued 516.8 million preferred shares this month, leaving it with 483.2 million it may sell in the near term.</p><p>The Leawood, Kansas-based company has declined to comment on when it might sell preferred shares to raise money. If it were to sell the 483.2 million at the listed preferred shares&#39; Monday closing price of $6, it would raise $2.9 billion.</p><p><b>CAN&#39;T AMC RAISE MONEY BY SELLING COMMON SHARES INSTEAD?</b></p><p>AMC could sell common shares but it requires shareholder approval to do so. It did not need to seek shareholder approval for the preferred share issue because it relied on an authorization granted to its board by its former owner, China&#39;s Dalian Wanda Group when it listed in 2013. Wanda is no longer an AMC shareholder.</p><p>In July 2021, AMC retracted a proposal for shareholders to approve the issuance of more common shares after it raised $1.8 billion by capitalizing on the meme stock frenzy. CEO Adam Aron cited investor opposition to more common stock sales, and AMC has not sought shareholder approval for a sale since.</p><p><b>WHY DID AMC COMMON SHARES PLUNGE WHEN PREFERRED SHARES STARTED TRADING?</b></p><p>AMC had warned that its common shares would drop as soon its preferred shares started trading on Monday because the stock dividend that delivered the preferred shares to investors acted as a stock split.</p><p>AMC&#39;s common shares ended down 42% at $10.46 on Monday. This fall - equivalent to a $7.56 per share decline - was more than the $6 that the preferred shares ended trading at, reflecting concerns about the company&#39;s future in the wake of peer Cineworld Group Plc&#39;s warning of a possible bankruptcy.</p><p>AMC tried to boost the popularity of the preferred shares with investors ahead of their launch. It listed them in New York under the ticker &#39;APE&#39;, a popular social media reference to meme stock enthusiasts. It also gave investors a free &#34;I OWN APE&#34; non-fungible token (NFT).</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","APE":"AMC Entertainment Preferred"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2261680510","content_text":"Aug 23 (Reuters) - AMC Entertainment Holdings Inc, the movie theater operator that investors have turned into a meme stock, completed the listing of its new preferred shares on Monday, setting the stage for a potential capital raise.The novel move allows AMC to sell potentially billions of dollars worth of shares without requiring approval from its shareholders, as it seeks to capitalize on the popularity of meme stocks - shares traded mostly based on social media hype rather than their economic fundamentals.Here is what you need to know about AMC's new preferred shares.WHAT ARE THE PREFERRED SHARES?The preferred shares are a new class of shares that were given to holders of AMC's common stock this month as a dividend. One preferred share was issued for each common share.The preferred shares have the same voting power and right to a dividend as common shares. They can be converted into common shares on a one-to-one basis, but only if AMC's board proposes this and AMC shareholders vote in favor of raising the number of authorized common shares to allow for the move.WHY DID AMC ISSUE THE PREFERRED SHARES?AMC said the new shares will be a \"currency\" that will allow it to raise money to pay down debt and carry out acquisitions and investments.While it did not gain any proceeds from the issuance, AMC said it may sell preferred shares from now on, using the current listed preferred shares' trading price as a benchmark.AMC said its board can authorize the issuance of up to 5 billion preferred shares but it has so far approved only 1 billion. It has issued 516.8 million preferred shares this month, leaving it with 483.2 million it may sell in the near term.The Leawood, Kansas-based company has declined to comment on when it might sell preferred shares to raise money. If it were to sell the 483.2 million at the listed preferred shares' Monday closing price of $6, it would raise $2.9 billion.CAN'T AMC RAISE MONEY BY SELLING COMMON SHARES INSTEAD?AMC could sell common shares but it requires shareholder approval to do so. It did not need to seek shareholder approval for the preferred share issue because it relied on an authorization granted to its board by its former owner, China's Dalian Wanda Group when it listed in 2013. Wanda is no longer an AMC shareholder.In July 2021, AMC retracted a proposal for shareholders to approve the issuance of more common shares after it raised $1.8 billion by capitalizing on the meme stock frenzy. CEO Adam Aron cited investor opposition to more common stock sales, and AMC has not sought shareholder approval for a sale since.WHY DID AMC COMMON SHARES PLUNGE WHEN PREFERRED SHARES STARTED TRADING?AMC had warned that its common shares would drop as soon its preferred shares started trading on Monday because the stock dividend that delivered the preferred shares to investors acted as a stock split.AMC's common shares ended down 42% at $10.46 on Monday. This fall - equivalent to a $7.56 per share decline - was more than the $6 that the preferred shares ended trading at, reflecting concerns about the company's future in the wake of peer Cineworld Group Plc's warning of a possible bankruptcy.AMC tried to boost the popularity of the preferred shares with investors ahead of their launch. It listed them in New York under the ticker 'APE', a popular social media reference to meme stock enthusiasts. It also gave investors a free \"I OWN APE\" non-fungible token (NFT).","news_type":1},"isVote":1,"tweetType":1,"viewCount":28,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034990674,"gmtCreate":1647746388905,"gmtModify":1676534262723,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034990674","repostId":"2220726035","repostType":2,"repost":{"id":"2220726035","pubTimestamp":1647650557,"share":"https://www.laohu8.com/m/news/2220726035?lang=&edition=full","pubTime":"2022-03-19 08:42","market":"us","language":"en","title":"Disney: Awakening The Sleeping Giant","url":"https://stock-news.laohu8.com/highlight/detail?id=2220726035","media":"seekingalpha","summary":"SummaryDisney+ is on track to meeting its FY2024 targets and will be doubling the number of original","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Disney+ is on track to meeting its FY2024 targets and will be doubling the number of original content as well as the number of markets it&#39;s operating in.</li><li>ESPN&#39;s huge scale could bring additional huge growth opportunities in sports betting, which Disney has given the nod of approval for.</li><li>Both domestic and international parks will see strong recovery as pent-up demand for travel brings traffic back to Disney&#39;s parks along with an improvement in margins.</li><li>Based on an SOTP valuation, my target price for Disney is $197, implying 43% upside from current levels.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1b25c502149358c089ee67660f6d4830\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/><span>hapabapa/iStock Editorial via Getty Images</span></p><p>Walt Disney (NYSE:DIS) is an attractive investment right now due to its long term growth potential as well as its likely recovery from covid impacts to its parks and attractions.</p><p><b>Investment thesis</b></p><p>The investment theses for Disney are as follows:</p><ol><li>Disney+ will be doubling the number of markets it operates in globally and doubling the amount of original content it is releasing. Furthermore, the market is under-pricing the chance of Disney+ achieving its FY2024 targets, which in my view, is becoming much more achievable with the current roadmap.</li><li>Sports could be an interesting bright spot for Disney as ESPN could leverage on its huge scale to enter sports betting, which is what many of its ESPN consumers want.</li><li>Parks segment will see a strong recovery in FY2022 due to increasing domestic and international guests at its attractions as travel resumes and heads back towards pre-COVID times.</li></ol><p>Overview</p><p>When looking at Disney, it&#39;s important to note the revenue mix of the company. There are two main segments to Disney:</p><ol><li>Disney Media &amp; Entertainment Distribution (DMED) segment which makes up 75% of revenues in 2021. This segment was formed in 2020 as part of Disney&#39;s reorganisation of its media and entertainment business and as it focuses more on the segment. This segment includes streaming services,, linear and syndicated television networks. This includes the direct-to-consumer units like Disney+, Hotstar, ESPN, Hulu</li><li>Disney Parks, Experiences &amp; Products (DPEP) segment which makes up 25% of revenues in 2021. This is Disney&#39;s most iconic travel and leisure business which includes its 6 resort destinations in the United States, Europe and Asia, as well as its cruise line.</li></ol><p>However, the revenue mix in FY2020 and FY2021, in my opinion, is more skewed towards DMED segment due to the huge impact on DPEP segment as the COVID 19 pandemic struck in 2020 and the impacts continued to linger in 2021. Of course, there is also the trend of fast growing DMED segment due to the increasing penetration of Disney&#39;s DTC streaming services like Disney+</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85405b7865b0cfd86dacf33622d3fdb2\" tg-width=\"640\" tg-height=\"184\" width=\"100%\" height=\"auto\"/><span>Revenue mix and growth of Disney (Disney Annual Reports)</span></p><p>When looking at the operating income mix, I think it is quite clear that the DPEP segment has not just seen a decline in revenues, but also margin reduction due to the low volumes in its parks and attractions. That said, at pre-COVID levels, the DPEP segment was one of the more profitable segments at around 27% operating margins. In my opinion, it is a matter of time before Disney&#39;s DPEP segment operating margins will normalise as customers return to its parks.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7cde9d56416980fbbade8ae8f921bbbd\" tg-width=\"640\" tg-height=\"233\" width=\"100%\" height=\"auto\"/><span>Disney Operating Income Mix and Growth (Disney Annual Reports)</span></p><p><b>Disney+ is well positioned for the future</b></p><p>With net adds to Disney+ subs being 11.8 million in 1QFY22, this beat on consensus shows me that the market may perhaps be underpricing the probability of Disney+ achieving its long term 2024 target of achieving 230 million to 260 million subscribers.</p><p>Furthermore, what makes me more optimistic about Disney+ is the strong slate of marquee content coming in 2QF22 and beyond.</p><p>Overall, Disney is almost doubling the amount or original content from its marquee brands in Disney+ in FY2022, with most of these titles coming online in 2HFY22, particularly between July and September. In 2QF22, Pixar will release <i>Turning Red</i> (11 March) and Marvel releases <i>Moon Knight</i> (30 March).</p><p>More highly anticipated releases in 3QF22 and after will include 2 new Star Wars series <i>Andor</i> (To be announced) and <i>Obi-Wan Kenobi</i> (25 March), new Marvel series <i>Ms. Marvel</i> (To be announced) and <i>She-Hulk</i> (To be announced), a live-action <i>Pinocchio</i>(To be announced) starring Tom Hanks, and <i>Hocus Pocus 2</i> (FY2023).</p><p>Management reiterated that they have more than 340 local original titles in various stages of development and production for their DTC platforms over the next few years. Local content offerings are also increasing in Asia, India, Europe, and LatAm in FY2022, with the majority of those titles releasing in F2H22.</p><p>In my opinion, this will be a pivotal moment for Disney+ as 4QFY22 will be the first time in Disney+ history that the company will be releasing original content throughout the quarter from all of Disney, Marvel, Star Wars, Pixar, and Nat Geo.</p><p>Although there could be some risk of subs deceleration in 2QFY22 due to the back end weighted content in the second half of the year. That said, the focus should really be on 2HFY22 as, in my opinion, there could be meaningfully much higher net adds to subscriber base, partly due to content release schedule in 2HFY22, and also the international launches happening as Disney+ expands its reach globally.</p><p>In the 1QFY22 management call, management emphasised Disney+&#39;s expansion globally. In FY2022, the company plans on bringing Disney+ to more than 50 more countries. This includes countries in Central Eastern Europe, the Middle East, and South Africa.</p><p>In total, management has plans to more than double the number of markets Disney+ is in now from 80 currently to more than 160 markets by FY2023. I would expect that the initial impact of these planned market launches will be most evident in F3Q22. As such, I am of the opinion that we will continue to see quarter over quarter improvements in Disney+ net adds from 8 million net adds in 2QFY22, to 12 million net adds in 3QFY22.</p><p><b>Sports could be a future bright spot</b></p><p>In the November 10 2021 earnings call, Bob Chapek, CEO of Disney, said that the company will expand into sports betting through ESPN. Although this may not sound like anything new, this is the first time ESPN&#39;s parent company, Disney, acknowledged that sports betting will be beneficial to the parent company and will not affect Disney&#39;s brand. This sets a clear signal that the top management in Disney is giving the go ahead to go deeper and bigger into the world of sports betting.</p><p>In fact, sports betting has been something the company has been dipping its toes into. In 2020, ESPN got into an agreement with both Caesars Entertainment and DraftKings to link to their sportsbooks from</p><p>There were talks in August 2021 about ESPN, at that time, was in discussions to potentially explore a brand licensing deal with DraftKings or Caesars Entertainment for $3 billion.</p><p>Bob Chapek mentioned that the company wants to have a greater presence in online sports betting and can leverage on ESPN&#39;s reach and scale to partner with 3rd parties in the sports betting space.</p><p>In my opinion, this could help Disney create brand new revenue streams and bring growth to ESPN, especially as ESPN advertising revenues were flat in the 4th quarter of 2021 when compared to the same quarter a year before. However, its streaming service EPSN+ grew subscribers by 66% over the year and almost 90% of the most watched broadcasts on Disney&#39;s owned TV networks were sports events. Thus, I think that to leverage on this strength that Disney has would make lots of sense not just for ESPN, but for Disney as a whole.</p><p>In addition, the move to sports betting would also attract and retain a younger audience and keep the momentum growing for ESPN. Furthermore, it is noted by Chapel that the consumer wants to have sports betting and to meet the needs of the ESPN customers, Disney needs to move into sports betting or risk missing a great opportunity or even being irrelevant in the future.</p><p><b>Recovery of parks will bring huge revenue and operating income upside</b></p><p>In 1QFY22, the Parks segment saw a material beat in revenues and operating incomes which in my view is a sign that we could be seeing structurally stronger growth rates in revenue as well as operating margins normalisation as international parks and domestic parks fully open and as travel returns to pre-pandemic levels.</p><p>Although there were lower attendance than 2019, Parks revenue and operating income matched pre-pandemic levels due to the higher yield benefits with per cap spending up more than 40% compared to 1QFY19.</p><p>Furthermore, based on the latest results, trends in attendance at Disney&#39;s domestic parks have continued to increase as Walt Disney World and Disneyland 1QFY22 attendance was up double digits compared to that of 4QFY21. This was likely also reflecting the seasonality effects of the holiday season.</p><p>Moving forward, although there is likely to be continued impact from COVID in the form of volatility, Disney&#39;s domestic parks will likely see continued strong demand from domestic guests while international parks will likely see a surge in demand in the latter half of the year. This is due to the increased closures like that of Hong Kong Disneyland currently being temporarily closed.</p><p>For my longer term forecasts, I believe that we could see per caps spending sustain above pre-COVID levels and thus this will drive higher margins for the segment. Driven by huge volume and customer growth both from domestic and international guests, the recovery in Disney&#39;s Parks segment will be significant in FY2022.</p><p><b>Valuation</b></p><p>Based on above points mentioned, I developed a financial model for Disney to come up with a valuation using sum of the parts (SOTP) valuation of the different segments. Due to the currently unprofitable nature of DTC, this was forecasted using longer term DCF model for the DTC segment.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/592ec77a3e6703ec77a973ea2f37ec2d\" tg-width=\"640\" tg-height=\"267\" width=\"100%\" height=\"auto\"/><span>SOTP Valuation of Disney (Author generated model)</span></p><p>Based on the SOTP valuation, I derived a target price of $197, and there is a 43% upside potential for Disney based on current price levels.</p><p>Looking to relative valuation, when comparing Disney with Netflix (NFLX), one of Disney&#39;s competitors in the streaming services market, the forward P/E ratios of both companies are somewhat similar at about 31x to 32x 1 year forward P/E.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bba2de777172d857327f65f1635488c\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>However, as highlighted in earlier sections, Disney&#39;s growth is likely to be higher than that of Netflix due to the higher growth from DPEP segment as travel recovers, and also from DMED segment as Disney+ content releases bring in record numbers of net adds and subscribers. As can be seen below, although Disney&#39;s revenues plunged in 2020, its starting to show faster growth in 2021 as it continues to recover from the COVID situation.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b539d4941a78dc5366d8a9b95abaa13\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p><b>Risks</b></p><p><b>Competition</b></p><p>We are seeing increased competition in the streaming space. Although Disney has a strong franchise of brands in Disney+, competitors like Netflix, Apple TV (AAPL) and Amazon Prime Video (AMZN) could significantly increase content and marketing trend, competing for the same eyeballs for streaming services and thereby restricting Disney&#39;s subscriber and margin growth.</p><p><b>COVID related risks</b></p><p>As Disney&#39;s traditional travel and leisure Parks business is very susceptible to global travel and tourism trends, any increase in COVID related measures in any geographies that Disney&#39;s parks are operating in could result in slower than expected recovery.</p><p><b>Conclusion</b></p><p>All in all, there is a good risk reward investment opportunity for Disney at the current levels. With Parks segment set to see margin improvement to above pre-COVID levels as well as see traffic return, this will bring about a huge growth in revenues and profits from the profitable parks business. Furthermore, Disney continues to execute well in its streaming business, with 2HFY22 being a very exciting time for Disney+ as it rolls out to more markets and as it releases much more original marquee content that could reach a wide range of audiences. Based on SOTP valuation, my target price for Disney is $197, implying 43% upside from current levels, which is an attractive investment opportunity in my view.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Disney: Awakening The Sleeping Giant</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\">\nDisney: Awakening The Sleeping Giant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 08:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496356-disney-attractive-investment-long-term-growth><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryDisney+ is on track to meeting its FY2024 targets and will be doubling the number of original content as well as the number of markets it's operating in.ESPN's huge scale could bring additional...</p>\n\n<a href=\"https://seekingalpha.com/article/4496356-disney-attractive-investment-long-term-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","DIS":"迪士尼","BK4551":"寇图资本持仓","BK4524":"宅经济概念","BK4108":"电影和娱乐","BK4561":"索罗斯持仓","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4581":"高盛持仓","BK4550":"红杉资本持仓"},"source_url":"https://seekingalpha.com/article/4496356-disney-attractive-investment-long-term-growth","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220726035","content_text":"SummaryDisney+ is on track to meeting its FY2024 targets and will be doubling the number of original content as well as the number of markets it's operating in.ESPN's huge scale could bring additional huge growth opportunities in sports betting, which Disney has given the nod of approval for.Both domestic and international parks will see strong recovery as pent-up demand for travel brings traffic back to Disney's parks along with an improvement in margins.Based on an SOTP valuation, my target price for Disney is $197, implying 43% upside from current levels.hapabapa/iStock Editorial via Getty ImagesWalt Disney (NYSE:DIS) is an attractive investment right now due to its long term growth potential as well as its likely recovery from covid impacts to its parks and attractions.Investment thesisThe investment theses for Disney are as follows:Disney+ will be doubling the number of markets it operates in globally and doubling the amount of original content it is releasing. Furthermore, the market is under-pricing the chance of Disney+ achieving its FY2024 targets, which in my view, is becoming much more achievable with the current roadmap.Sports could be an interesting bright spot for Disney as ESPN could leverage on its huge scale to enter sports betting, which is what many of its ESPN consumers want.Parks segment will see a strong recovery in FY2022 due to increasing domestic and international guests at its attractions as travel resumes and heads back towards pre-COVID times.OverviewWhen looking at Disney, it's important to note the revenue mix of the company. There are two main segments to Disney:Disney Media & Entertainment Distribution (DMED) segment which makes up 75% of revenues in 2021. This segment was formed in 2020 as part of Disney's reorganisation of its media and entertainment business and as it focuses more on the segment. This segment includes streaming services,, linear and syndicated television networks. This includes the direct-to-consumer units like Disney+, Hotstar, ESPN, HuluDisney Parks, Experiences & Products (DPEP) segment which makes up 25% of revenues in 2021. This is Disney's most iconic travel and leisure business which includes its 6 resort destinations in the United States, Europe and Asia, as well as its cruise line.However, the revenue mix in FY2020 and FY2021, in my opinion, is more skewed towards DMED segment due to the huge impact on DPEP segment as the COVID 19 pandemic struck in 2020 and the impacts continued to linger in 2021. Of course, there is also the trend of fast growing DMED segment due to the increasing penetration of Disney's DTC streaming services like Disney+Revenue mix and growth of Disney (Disney Annual Reports)When looking at the operating income mix, I think it is quite clear that the DPEP segment has not just seen a decline in revenues, but also margin reduction due to the low volumes in its parks and attractions. That said, at pre-COVID levels, the DPEP segment was one of the more profitable segments at around 27% operating margins. In my opinion, it is a matter of time before Disney's DPEP segment operating margins will normalise as customers return to its parks.Disney Operating Income Mix and Growth (Disney Annual Reports)Disney+ is well positioned for the futureWith net adds to Disney+ subs being 11.8 million in 1QFY22, this beat on consensus shows me that the market may perhaps be underpricing the probability of Disney+ achieving its long term 2024 target of achieving 230 million to 260 million subscribers.Furthermore, what makes me more optimistic about Disney+ is the strong slate of marquee content coming in 2QF22 and beyond.Overall, Disney is almost doubling the amount or original content from its marquee brands in Disney+ in FY2022, with most of these titles coming online in 2HFY22, particularly between July and September. In 2QF22, Pixar will release Turning Red (11 March) and Marvel releases Moon Knight (30 March).More highly anticipated releases in 3QF22 and after will include 2 new Star Wars series Andor (To be announced) and Obi-Wan Kenobi (25 March), new Marvel series Ms. Marvel (To be announced) and She-Hulk (To be announced), a live-action Pinocchio(To be announced) starring Tom Hanks, and Hocus Pocus 2 (FY2023).Management reiterated that they have more than 340 local original titles in various stages of development and production for their DTC platforms over the next few years. Local content offerings are also increasing in Asia, India, Europe, and LatAm in FY2022, with the majority of those titles releasing in F2H22.In my opinion, this will be a pivotal moment for Disney+ as 4QFY22 will be the first time in Disney+ history that the company will be releasing original content throughout the quarter from all of Disney, Marvel, Star Wars, Pixar, and Nat Geo.Although there could be some risk of subs deceleration in 2QFY22 due to the back end weighted content in the second half of the year. That said, the focus should really be on 2HFY22 as, in my opinion, there could be meaningfully much higher net adds to subscriber base, partly due to content release schedule in 2HFY22, and also the international launches happening as Disney+ expands its reach globally.In the 1QFY22 management call, management emphasised Disney+'s expansion globally. In FY2022, the company plans on bringing Disney+ to more than 50 more countries. This includes countries in Central Eastern Europe, the Middle East, and South Africa.In total, management has plans to more than double the number of markets Disney+ is in now from 80 currently to more than 160 markets by FY2023. I would expect that the initial impact of these planned market launches will be most evident in F3Q22. As such, I am of the opinion that we will continue to see quarter over quarter improvements in Disney+ net adds from 8 million net adds in 2QFY22, to 12 million net adds in 3QFY22.Sports could be a future bright spotIn the November 10 2021 earnings call, Bob Chapek, CEO of Disney, said that the company will expand into sports betting through ESPN. Although this may not sound like anything new, this is the first time ESPN's parent company, Disney, acknowledged that sports betting will be beneficial to the parent company and will not affect Disney's brand. This sets a clear signal that the top management in Disney is giving the go ahead to go deeper and bigger into the world of sports betting.In fact, sports betting has been something the company has been dipping its toes into. In 2020, ESPN got into an agreement with both Caesars Entertainment and DraftKings to link to their sportsbooks fromThere were talks in August 2021 about ESPN, at that time, was in discussions to potentially explore a brand licensing deal with DraftKings or Caesars Entertainment for $3 billion.Bob Chapek mentioned that the company wants to have a greater presence in online sports betting and can leverage on ESPN's reach and scale to partner with 3rd parties in the sports betting space.In my opinion, this could help Disney create brand new revenue streams and bring growth to ESPN, especially as ESPN advertising revenues were flat in the 4th quarter of 2021 when compared to the same quarter a year before. However, its streaming service EPSN+ grew subscribers by 66% over the year and almost 90% of the most watched broadcasts on Disney's owned TV networks were sports events. Thus, I think that to leverage on this strength that Disney has would make lots of sense not just for ESPN, but for Disney as a whole.In addition, the move to sports betting would also attract and retain a younger audience and keep the momentum growing for ESPN. Furthermore, it is noted by Chapel that the consumer wants to have sports betting and to meet the needs of the ESPN customers, Disney needs to move into sports betting or risk missing a great opportunity or even being irrelevant in the future.Recovery of parks will bring huge revenue and operating income upsideIn 1QFY22, the Parks segment saw a material beat in revenues and operating incomes which in my view is a sign that we could be seeing structurally stronger growth rates in revenue as well as operating margins normalisation as international parks and domestic parks fully open and as travel returns to pre-pandemic levels.Although there were lower attendance than 2019, Parks revenue and operating income matched pre-pandemic levels due to the higher yield benefits with per cap spending up more than 40% compared to 1QFY19.Furthermore, based on the latest results, trends in attendance at Disney's domestic parks have continued to increase as Walt Disney World and Disneyland 1QFY22 attendance was up double digits compared to that of 4QFY21. This was likely also reflecting the seasonality effects of the holiday season.Moving forward, although there is likely to be continued impact from COVID in the form of volatility, Disney's domestic parks will likely see continued strong demand from domestic guests while international parks will likely see a surge in demand in the latter half of the year. This is due to the increased closures like that of Hong Kong Disneyland currently being temporarily closed.For my longer term forecasts, I believe that we could see per caps spending sustain above pre-COVID levels and thus this will drive higher margins for the segment. Driven by huge volume and customer growth both from domestic and international guests, the recovery in Disney's Parks segment will be significant in FY2022.ValuationBased on above points mentioned, I developed a financial model for Disney to come up with a valuation using sum of the parts (SOTP) valuation of the different segments. Due to the currently unprofitable nature of DTC, this was forecasted using longer term DCF model for the DTC segment.SOTP Valuation of Disney (Author generated model)Based on the SOTP valuation, I derived a target price of $197, and there is a 43% upside potential for Disney based on current price levels.Looking to relative valuation, when comparing Disney with Netflix (NFLX), one of Disney's competitors in the streaming services market, the forward P/E ratios of both companies are somewhat similar at about 31x to 32x 1 year forward P/E.Data by YChartsHowever, as highlighted in earlier sections, Disney's growth is likely to be higher than that of Netflix due to the higher growth from DPEP segment as travel recovers, and also from DMED segment as Disney+ content releases bring in record numbers of net adds and subscribers. As can be seen below, although Disney's revenues plunged in 2020, its starting to show faster growth in 2021 as it continues to recover from the COVID situation.Data by YChartsRisksCompetitionWe are seeing increased competition in the streaming space. Although Disney has a strong franchise of brands in Disney+, competitors like Netflix, Apple TV (AAPL) and Amazon Prime Video (AMZN) could significantly increase content and marketing trend, competing for the same eyeballs for streaming services and thereby restricting Disney's subscriber and margin growth.COVID related risksAs Disney's traditional travel and leisure Parks business is very susceptible to global travel and tourism trends, any increase in COVID related measures in any geographies that Disney's parks are operating in could result in slower than expected recovery.ConclusionAll in all, there is a good risk reward investment opportunity for Disney at the current levels. With Parks segment set to see margin improvement to above pre-COVID levels as well as see traffic return, this will bring about a huge growth in revenues and profits from the profitable parks business. Furthermore, Disney continues to execute well in its streaming business, with 2HFY22 being a very exciting time for Disney+ as it rolls out to more markets and as it releases much more original marquee content that could reach a wide range of audiences. Based on SOTP valuation, my target price for Disney is $197, implying 43% upside from current levels, which is an attractive investment opportunity in my view.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039197102,"gmtCreate":1645943565504,"gmtModify":1676534076831,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039197102","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://www.laohu8.com/m/news/1125580913?lang=&edition=full","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</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\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":44,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893010960,"gmtCreate":1628220177450,"gmtModify":1703503420182,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"When is nio turn","listText":"When is nio turn","text":"When is nio turn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/893010960","repostId":"1112842219","repostType":4,"isVote":1,"tweetType":1,"viewCount":20,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9912507545,"gmtCreate":1664847522288,"gmtModify":1676537518327,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9912507545","repostId":"1162219725","repostType":4,"repost":{"id":"1162219725","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":1664856212,"share":"https://www.laohu8.com/m/news/1162219725?lang=&edition=full","pubTime":"2022-10-04 12:03","market":"us","language":"en","title":"Credit Suisse in Market Spotlight Despite Moves to Calm Concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1162219725","media":"Reuters","summary":"SummaryCredit Suisse caught in market turbulence ahead of revampShares fell as much as 11.5% before ","content":"<html><head></head><body><p>Summary</p><ul><li>Credit Suisse caught in market turbulence ahead of revamp</li><li>Shares fell as much as 11.5% before recouping losses</li><li>Bank&#39;s euro-denominated bonds reach record lows</li><li>Swiss bank says its capital, liquidity are strong</li></ul><p>(Reuters) - Credit Suisse Group AG (CSGN.S) saw its shares slide by as much as 11.5% and its bonds hit record lows on Monday before clawing back some of the losses amid concerns about the lender’s ability to restructure its business without asking for more money.</p><p>The situation prompted Swiss regulator FINMA and the Bank of England in London, where the lender has a major hub, to monitor what was happening and work closely together, one source familiar with the matter said.</p><p>Some analysts and industry sources said the bank had enough capital and cash to deal with any crises. One analyst said investors feared the bank&#39;s ability to execute on a turnaround strategy, which it is due to reveal on Oct. 27.</p><p>Broader market malaise is also likely adding to investor worries, they said. Global financial markets have been particularly fragile of late, where rapidly rising interest rates, policy inconsistencies, recession fears and the war in Ukraine have unnerved investors.</p><p>&#34;The key issue is the viability of the bank following its upcoming strategic review,&#34; wrote ABN AMRO analyst Joost Beaumont, who added that adverse market conditions have raised the &#34;execution risk of any strategic review.&#34;</p><p>The Bank of England, FINMA and the Swiss finance ministry declined to comment.</p><p>Analysts at Citi said that widening credit spreads could exacerbate market fears and damage counterparty confidence, as well as drive funding costs higher.</p><p>&#34;In the long-term the further the share price falls the more dilutive any capital raise becomes (and vice versa), which constrains the magnitude of any investment banking restructuring that CS can undertake,&#34; the analysts said.</p><p>Credit Suisse, one of the largest in Europe and one of Switzerland&#39;s global systemically important banks, has had to raise capital, halt share buybacks, cut its dividend and revamp management after losing more than $5 billion from the collapse of investment firm Archegos in March 2021, when it also had to suspend client funds linked to failed financier Greensill. read more</p><p>In July, Credit Suisse announced its second strategy review in a year and replaced its chief executive, bringing in restructuring expert Ulrich Koerner to scale back investment banking and cut more than $1 billion in costs. read more</p><p>The bank is considering measures to scale back its investment bank into a &#34;capital-light, advisory-led&#34; business, and is evaluating strategic options for the securitised products business, Credit Suisse has said.</p><p>Citing people familiar with the situation, Reuters reported last month that Credit Suisse was sounding out investors for fresh cash as it attempts its overhaul. read more</p><h2>FALLING SHARES</h2><p>Credit Suisse shares fell as much as 11.5% before coming off early lows to end down just 1%. Its international bonds also showed the strain, with euro-denominated bonds dropping to record lows before clawing back some losses in the afternoon.</p><p>The embattled lender&#39;s longer-dated bonds , suffered the sharpest declines. read more</p><p>Spreads on Credit Suisse&#39;s U.S. dollar bonds were quoted on Monday morning about 40 to 90 basis points wider across their outstanding bonds. Their bonds maturing 2027 were about 365 bps over Treasuries vs 290 bps bid on Friday while the Credit Suisse 6.537% bond maturing August 2033 was bid at 460 bps over Treasuries vs 420 bps on Friday, one syndicate banker said.</p><p>&#34;It is pretty ugly for CS bonds,&#34; said the banker.</p><p>Credit Suisse credit default swaps soared higher on Monday, adding 105 basis points from Friday&#39;s close to trade at 355 bps, their highest level in at least more than two decades. The bank&#39;s CDS, which measure the cost to insure its bonds, stood at 57 bps at the start of the year.</p><p>Bank executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital, the Financial Times reported on Sunday. read more</p><p>That followed Chief Executive Koerner’s telling staff last week that the bank, whose market capitalisation dropped to a record low of 9.73 billion Swiss francs ($9.85 billion) on Monday, has solid capital and liquidity. read more</p><p>Some investors said they were not panicking.</p><p>&#34;They’ll be recapitalised by the public markets if the environment is good in a month or two, or they’ll be backstopped by the Swiss government if the environment is bad,&#34; said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital.</p><h2>LIQUIDITY &#39;HEALTHY&#39;</h2><p>JPMorgan analysts said in a research note on Monday that, based on its financials at the end of the second quarter, they view Credit Suisse&#39;s capital and liquidity as &#34;healthy&#34;.</p><p>Given the bank has indicated a near-term intention to keep its CET1 capital ratio at 13% to 14%, the second-quarter end ratio is well within that range and the liquidity coverage ratio is well above requirements, the analysts added.</p><p>Credit Suisse had total assets of 727 billion Swiss francs ($735.68 billion) at the end of the second quarter, of which 159 billion francs was cash and due from banks, while 101 billion francs was trading assets, it noted.</p><p>Still, investors are questioning how much capital the bank may need to raise to fund the cost of a restructuring, analysts at Jefferies wrote in a note to clients on Monday. Also, the bank is now potentially a forced seller of assets, they said.</p><p>Deutsche Bank analysts in August estimated a capital shortfall of at least 4 billion francs.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse in Market Spotlight Despite Moves to Calm Concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse in Market Spotlight Despite Moves to Calm Concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-04 12:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Summary</p><ul><li>Credit Suisse caught in market turbulence ahead of revamp</li><li>Shares fell as much as 11.5% before recouping losses</li><li>Bank&#39;s euro-denominated bonds reach record lows</li><li>Swiss bank says its capital, liquidity are strong</li></ul><p>(Reuters) - Credit Suisse Group AG (CSGN.S) saw its shares slide by as much as 11.5% and its bonds hit record lows on Monday before clawing back some of the losses amid concerns about the lender’s ability to restructure its business without asking for more money.</p><p>The situation prompted Swiss regulator FINMA and the Bank of England in London, where the lender has a major hub, to monitor what was happening and work closely together, one source familiar with the matter said.</p><p>Some analysts and industry sources said the bank had enough capital and cash to deal with any crises. One analyst said investors feared the bank&#39;s ability to execute on a turnaround strategy, which it is due to reveal on Oct. 27.</p><p>Broader market malaise is also likely adding to investor worries, they said. Global financial markets have been particularly fragile of late, where rapidly rising interest rates, policy inconsistencies, recession fears and the war in Ukraine have unnerved investors.</p><p>&#34;The key issue is the viability of the bank following its upcoming strategic review,&#34; wrote ABN AMRO analyst Joost Beaumont, who added that adverse market conditions have raised the &#34;execution risk of any strategic review.&#34;</p><p>The Bank of England, FINMA and the Swiss finance ministry declined to comment.</p><p>Analysts at Citi said that widening credit spreads could exacerbate market fears and damage counterparty confidence, as well as drive funding costs higher.</p><p>&#34;In the long-term the further the share price falls the more dilutive any capital raise becomes (and vice versa), which constrains the magnitude of any investment banking restructuring that CS can undertake,&#34; the analysts said.</p><p>Credit Suisse, one of the largest in Europe and one of Switzerland&#39;s global systemically important banks, has had to raise capital, halt share buybacks, cut its dividend and revamp management after losing more than $5 billion from the collapse of investment firm Archegos in March 2021, when it also had to suspend client funds linked to failed financier Greensill. read more</p><p>In July, Credit Suisse announced its second strategy review in a year and replaced its chief executive, bringing in restructuring expert Ulrich Koerner to scale back investment banking and cut more than $1 billion in costs. read more</p><p>The bank is considering measures to scale back its investment bank into a &#34;capital-light, advisory-led&#34; business, and is evaluating strategic options for the securitised products business, Credit Suisse has said.</p><p>Citing people familiar with the situation, Reuters reported last month that Credit Suisse was sounding out investors for fresh cash as it attempts its overhaul. read more</p><h2>FALLING SHARES</h2><p>Credit Suisse shares fell as much as 11.5% before coming off early lows to end down just 1%. Its international bonds also showed the strain, with euro-denominated bonds dropping to record lows before clawing back some losses in the afternoon.</p><p>The embattled lender&#39;s longer-dated bonds , suffered the sharpest declines. read more</p><p>Spreads on Credit Suisse&#39;s U.S. dollar bonds were quoted on Monday morning about 40 to 90 basis points wider across their outstanding bonds. Their bonds maturing 2027 were about 365 bps over Treasuries vs 290 bps bid on Friday while the Credit Suisse 6.537% bond maturing August 2033 was bid at 460 bps over Treasuries vs 420 bps on Friday, one syndicate banker said.</p><p>&#34;It is pretty ugly for CS bonds,&#34; said the banker.</p><p>Credit Suisse credit default swaps soared higher on Monday, adding 105 basis points from Friday&#39;s close to trade at 355 bps, their highest level in at least more than two decades. The bank&#39;s CDS, which measure the cost to insure its bonds, stood at 57 bps at the start of the year.</p><p>Bank executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital, the Financial Times reported on Sunday. read more</p><p>That followed Chief Executive Koerner’s telling staff last week that the bank, whose market capitalisation dropped to a record low of 9.73 billion Swiss francs ($9.85 billion) on Monday, has solid capital and liquidity. read more</p><p>Some investors said they were not panicking.</p><p>&#34;They’ll be recapitalised by the public markets if the environment is good in a month or two, or they’ll be backstopped by the Swiss government if the environment is bad,&#34; said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital.</p><h2>LIQUIDITY &#39;HEALTHY&#39;</h2><p>JPMorgan analysts said in a research note on Monday that, based on its financials at the end of the second quarter, they view Credit Suisse&#39;s capital and liquidity as &#34;healthy&#34;.</p><p>Given the bank has indicated a near-term intention to keep its CET1 capital ratio at 13% to 14%, the second-quarter end ratio is well within that range and the liquidity coverage ratio is well above requirements, the analysts added.</p><p>Credit Suisse had total assets of 727 billion Swiss francs ($735.68 billion) at the end of the second quarter, of which 159 billion francs was cash and due from banks, while 101 billion francs was trading assets, it noted.</p><p>Still, investors are questioning how much capital the bank may need to raise to fund the cost of a restructuring, analysts at Jefferies wrote in a note to clients on Monday. Also, the bank is now potentially a forced seller of assets, they said.</p><p>Deutsche Bank analysts in August estimated a capital shortfall of at least 4 billion francs.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162219725","content_text":"SummaryCredit Suisse caught in market turbulence ahead of revampShares fell as much as 11.5% before recouping lossesBank's euro-denominated bonds reach record lowsSwiss bank says its capital, liquidity are strong(Reuters) - Credit Suisse Group AG (CSGN.S) saw its shares slide by as much as 11.5% and its bonds hit record lows on Monday before clawing back some of the losses amid concerns about the lender’s ability to restructure its business without asking for more money.The situation prompted Swiss regulator FINMA and the Bank of England in London, where the lender has a major hub, to monitor what was happening and work closely together, one source familiar with the matter said.Some analysts and industry sources said the bank had enough capital and cash to deal with any crises. One analyst said investors feared the bank's ability to execute on a turnaround strategy, which it is due to reveal on Oct. 27.Broader market malaise is also likely adding to investor worries, they said. Global financial markets have been particularly fragile of late, where rapidly rising interest rates, policy inconsistencies, recession fears and the war in Ukraine have unnerved investors.\"The key issue is the viability of the bank following its upcoming strategic review,\" wrote ABN AMRO analyst Joost Beaumont, who added that adverse market conditions have raised the \"execution risk of any strategic review.\"The Bank of England, FINMA and the Swiss finance ministry declined to comment.Analysts at Citi said that widening credit spreads could exacerbate market fears and damage counterparty confidence, as well as drive funding costs higher.\"In the long-term the further the share price falls the more dilutive any capital raise becomes (and vice versa), which constrains the magnitude of any investment banking restructuring that CS can undertake,\" the analysts said.Credit Suisse, one of the largest in Europe and one of Switzerland's global systemically important banks, has had to raise capital, halt share buybacks, cut its dividend and revamp management after losing more than $5 billion from the collapse of investment firm Archegos in March 2021, when it also had to suspend client funds linked to failed financier Greensill. read moreIn July, Credit Suisse announced its second strategy review in a year and replaced its chief executive, bringing in restructuring expert Ulrich Koerner to scale back investment banking and cut more than $1 billion in costs. read moreThe bank is considering measures to scale back its investment bank into a \"capital-light, advisory-led\" business, and is evaluating strategic options for the securitised products business, Credit Suisse has said.Citing people familiar with the situation, Reuters reported last month that Credit Suisse was sounding out investors for fresh cash as it attempts its overhaul. read moreFALLING SHARESCredit Suisse shares fell as much as 11.5% before coming off early lows to end down just 1%. Its international bonds also showed the strain, with euro-denominated bonds dropping to record lows before clawing back some losses in the afternoon.The embattled lender's longer-dated bonds , suffered the sharpest declines. read moreSpreads on Credit Suisse's U.S. dollar bonds were quoted on Monday morning about 40 to 90 basis points wider across their outstanding bonds. Their bonds maturing 2027 were about 365 bps over Treasuries vs 290 bps bid on Friday while the Credit Suisse 6.537% bond maturing August 2033 was bid at 460 bps over Treasuries vs 420 bps on Friday, one syndicate banker said.\"It is pretty ugly for CS bonds,\" said the banker.Credit Suisse credit default swaps soared higher on Monday, adding 105 basis points from Friday's close to trade at 355 bps, their highest level in at least more than two decades. The bank's CDS, which measure the cost to insure its bonds, stood at 57 bps at the start of the year.Bank executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital, the Financial Times reported on Sunday. read moreThat followed Chief Executive Koerner’s telling staff last week that the bank, whose market capitalisation dropped to a record low of 9.73 billion Swiss francs ($9.85 billion) on Monday, has solid capital and liquidity. read moreSome investors said they were not panicking.\"They’ll be recapitalised by the public markets if the environment is good in a month or two, or they’ll be backstopped by the Swiss government if the environment is bad,\" said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital.LIQUIDITY 'HEALTHY'JPMorgan analysts said in a research note on Monday that, based on its financials at the end of the second quarter, they view Credit Suisse's capital and liquidity as \"healthy\".Given the bank has indicated a near-term intention to keep its CET1 capital ratio at 13% to 14%, the second-quarter end ratio is well within that range and the liquidity coverage ratio is well above requirements, the analysts added.Credit Suisse had total assets of 727 billion Swiss francs ($735.68 billion) at the end of the second quarter, of which 159 billion francs was cash and due from banks, while 101 billion francs was trading assets, it noted.Still, investors are questioning how much capital the bank may need to raise to fund the cost of a restructuring, analysts at Jefferies wrote in a note to clients on Monday. Also, the bank is now potentially a forced seller of assets, they said.Deutsche Bank analysts in August estimated a capital shortfall of at least 4 billion francs.","news_type":1},"isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066152513,"gmtCreate":1651880799332,"gmtModify":1676534988127,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066152513","repostId":"2233939112","repostType":2,"repost":{"id":"2233939112","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":1651879296,"share":"https://www.laohu8.com/m/news/2233939112?lang=&edition=full","pubTime":"2022-05-07 07:21","market":"us","language":"en","title":"US STOCKS-Wall Street Ends Down on Fears Inflation Will Force Tougher Fed Tightening","url":"https://stock-news.laohu8.com/highlight/detail?id=2233939112","media":"Reuters","summary":"Wall Street's main indexes extended losses on Friday as investors worried that the Federal Reserve w","content":"<html><head></head><body><p>Wall Street&#39;s main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation.</p><p>The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&amp;P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011.</p><p>&#34;Ninety-five percent of the driver of the market right now is long-term interest rates,&#34; said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York.</p><p>The Labor Department presented stronger-than-expected jobs data with nonfarm payrolls increasing by 428,000 jobs in April, versus expectations of 391,000 job additions, underscoring the economy&#39;s strong fundamentals despite a contraction in gross domestic product in the first quarter.</p><p>The unemployment rate remained unchanged at 3.6% in the month, while average hourly earnings increased 0.3% against a forecast of a 0.4% rise.</p><p>Nine of the 11 major S&amp;P sectors declined. Energy had a 2.9% gain as oil prices climbed on supply concerns.</p><p>&#34;Oil is up again, continuing the inflationary worries that we are seeing and energy is bucking the trend of a very weak market. But the higher natural gas and crude oil prices have been tailwinds for the energy sector this year,&#34; said Ryan Detrick, chief market strategist for LPL Financial.</p><p>Megacap growth stocks slipped, with a few exceptions including Apple Inc, which rose 0.5%. Wells Fargo &amp; Co declined 0.5% to lead losses among big banks.</p><p>The Dow Jones Industrial Average    fell 98.6 points, or 0.3%, to 32,899.37, the S&amp;P 500    lost 23.53 points, or 0.57%, to 4,123.34 and the Nasdaq Composite    dropped 173.03 points, or 1.4%, to 12,144.66.</p><p>Most traders are expecting a 75 basis-point hike at the U.S. central bank&#39;s June meeting, despite Fed chief Jerome Powell&#39;s ruling that out.</p><p>All eyes are on the monthly consumer price index inflation report on Wednesday, as investors seek clues to whether the economy is nearing a peak in inflation.</p><p>Under Armour Inc slumped 23.8% after the sportswear maker forecast downbeat fiscal 2023 profit. Shares of rival Nike Inc also slipped.</p><p>Coinbase Global Inc dropped 9% on Friday to the lowest level since the cryptocurrency exchange&#39;s 2021 stock market debut.</p><p>Volume on U.S. exchanges was 13.49 billion shares, compared with the 12.10 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 3.04-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted <a href=\"https://laohu8.com/S/AONE.U\">one</a> new 52-week high and 63 new lows; the Nasdaq Composite recorded 15 new highs and 799 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Ends Down on Fears Inflation Will Force Tougher Fed Tightening</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Ends Down on Fears Inflation Will Force Tougher Fed Tightening\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-05-07 07:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Wall Street&#39;s main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation.</p><p>The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&amp;P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011.</p><p>&#34;Ninety-five percent of the driver of the market right now is long-term interest rates,&#34; said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York.</p><p>The Labor Department presented stronger-than-expected jobs data with nonfarm payrolls increasing by 428,000 jobs in April, versus expectations of 391,000 job additions, underscoring the economy&#39;s strong fundamentals despite a contraction in gross domestic product in the first quarter.</p><p>The unemployment rate remained unchanged at 3.6% in the month, while average hourly earnings increased 0.3% against a forecast of a 0.4% rise.</p><p>Nine of the 11 major S&amp;P sectors declined. Energy had a 2.9% gain as oil prices climbed on supply concerns.</p><p>&#34;Oil is up again, continuing the inflationary worries that we are seeing and energy is bucking the trend of a very weak market. But the higher natural gas and crude oil prices have been tailwinds for the energy sector this year,&#34; said Ryan Detrick, chief market strategist for LPL Financial.</p><p>Megacap growth stocks slipped, with a few exceptions including Apple Inc, which rose 0.5%. Wells Fargo &amp; Co declined 0.5% to lead losses among big banks.</p><p>The Dow Jones Industrial Average    fell 98.6 points, or 0.3%, to 32,899.37, the S&amp;P 500    lost 23.53 points, or 0.57%, to 4,123.34 and the Nasdaq Composite    dropped 173.03 points, or 1.4%, to 12,144.66.</p><p>Most traders are expecting a 75 basis-point hike at the U.S. central bank&#39;s June meeting, despite Fed chief Jerome Powell&#39;s ruling that out.</p><p>All eyes are on the monthly consumer price index inflation report on Wednesday, as investors seek clues to whether the economy is nearing a peak in inflation.</p><p>Under Armour Inc slumped 23.8% after the sportswear maker forecast downbeat fiscal 2023 profit. Shares of rival Nike Inc also slipped.</p><p>Coinbase Global Inc dropped 9% on Friday to the lowest level since the cryptocurrency exchange&#39;s 2021 stock market debut.</p><p>Volume on U.S. exchanges was 13.49 billion shares, compared with the 12.10 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 3.04-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted <a href=\"https://laohu8.com/S/AONE.U\">one</a> new 52-week high and 63 new lows; the Nasdaq Composite recorded 15 new highs and 799 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","TQQQ":"纳指三倍做多ETF","BK4534":"瑞士信贷持仓","DDM":"道指两倍做多ETF","OEF":"标普100指数ETF-iShares","LABP":"Landos Biopharma, Inc.","BK4139":"生物科技","DOG":"道指反向ETF","QLD":"纳指两倍做多ETF","QQQ":"纳指100ETF","BK4007":"制药","BK4196":"保健护理服务","DJX":"1/100道琼斯","PSQ":"纳指反向ETF","BK4082":"医疗保健设备","DXD":"道指两倍做空ETF","SSO":"两倍做多标普500ETF","BK4559":"巴菲特持仓","IVV":"标普500指数ETF","BK4550":"红杉资本持仓","SDOW":"道指三倍做空ETF-ProShares","SQQQ":"纳指三倍做空ETF","LHDX":"Lucira Health, Inc.","SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","CGEM":"Cullinan Oncology, Inc.","BK4581":"高盛持仓","SANA":"Sana Biotechnology, Inc.","SPXU":"三倍做空标普500ETF","BK4504":"桥水持仓","APR":"Apria, Inc.","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite","QID":"纳指两倍做空ETF","OEX":"标普100",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2233939112","content_text":"Wall Street's main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation.The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011.\"Ninety-five percent of the driver of the market right now is long-term interest rates,\" said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York.The Labor Department presented stronger-than-expected jobs data with nonfarm payrolls increasing by 428,000 jobs in April, versus expectations of 391,000 job additions, underscoring the economy's strong fundamentals despite a contraction in gross domestic product in the first quarter.The unemployment rate remained unchanged at 3.6% in the month, while average hourly earnings increased 0.3% against a forecast of a 0.4% rise.Nine of the 11 major S&P sectors declined. Energy had a 2.9% gain as oil prices climbed on supply concerns.\"Oil is up again, continuing the inflationary worries that we are seeing and energy is bucking the trend of a very weak market. But the higher natural gas and crude oil prices have been tailwinds for the energy sector this year,\" said Ryan Detrick, chief market strategist for LPL Financial.Megacap growth stocks slipped, with a few exceptions including Apple Inc, which rose 0.5%. Wells Fargo & Co declined 0.5% to lead losses among big banks.The Dow Jones Industrial Average    fell 98.6 points, or 0.3%, to 32,899.37, the S&P 500    lost 23.53 points, or 0.57%, to 4,123.34 and the Nasdaq Composite    dropped 173.03 points, or 1.4%, to 12,144.66.Most traders are expecting a 75 basis-point hike at the U.S. central bank's June meeting, despite Fed chief Jerome Powell's ruling that out.All eyes are on the monthly consumer price index inflation report on Wednesday, as investors seek clues to whether the economy is nearing a peak in inflation.Under Armour Inc slumped 23.8% after the sportswear maker forecast downbeat fiscal 2023 profit. Shares of rival Nike Inc also slipped.Coinbase Global Inc dropped 9% on Friday to the lowest level since the cryptocurrency exchange's 2021 stock market debut.Volume on U.S. exchanges was 13.49 billion shares, compared with the 12.10 billion average for the full session over the last 20 trading days.Declining issues outnumbered advancing ones on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 3.04-to-1 ratio favored decliners.The S&P 500 posted one new 52-week high and 63 new lows; the Nasdaq Composite recorded 15 new highs and 799 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9080996904,"gmtCreate":1649827436441,"gmtModify":1676534585400,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080996904","repostId":"2226866854","repostType":4,"repost":{"id":"2226866854","pubTimestamp":1649813060,"share":"https://www.laohu8.com/m/news/2226866854?lang=&edition=full","pubTime":"2022-04-13 09:24","market":"us","language":"en","title":"Shopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?","url":"https://stock-news.laohu8.com/highlight/detail?id=2226866854","media":"Motley Fool","summary":"These tech superstars offer compelling reasons to buy and hold for the long haul.","content":"<html><head></head><body><p><b>Shopify</b> just joined <b>Amazon</b>, <b>Alphabet</b>, and <b>Tesla</b> in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a &#34;founder&#39;s share&#34; for co-founder and CEO Tobi Lütke is also being proposed (which would give Lütke 40% of total Shopify voting power).</p><p>Companies split their stocks for good reasons, like to better manage stock-based compensation to employees or share buybacks. However, a stock split by itself doesn&#39;t change a company&#39;s fundamental value, so business health should be assessed rather than stock price when contemplating a buy. With that in mind, here&#39;s why each of these stock split companies is a worthwhile long-term buy-and-hold right now.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61875aab70f030febf158c27e36b8349\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2>1. Shopify: A 100-year mission still early in its development</h2><p>I&#39;ll start with Shopify, because this is my favorite company among the stock split candidates discussed here. I believe this stock also has some of the biggest upside potential in the next decade and beyond.</p><p>Shopify is on a &#34;100 year mission to make commerce better for everyone.&#34; Since its IPO in 2015, shares are up over 2,300%, and that&#39;s despite the recent 60%-plus sell-off from all-time highs. Suffice to say the journey has been highly profitable so far. Shopify&#39;s software suite helps aspiring entrepreneurs, small businesses, and fast-growing retail brands manage their sales online and via traditional in-person channels. Services include everything from website management to social media marketing to digital payment acceptance.</p><p>Shopify&#39;s focus over the next couple of years will be scaling its Fulfillment Network, local warehouses from which Shopify users can manage inventory and quickly ship orders to customers. In an era of fast fulfillment, giving small merchants similar shipping options as bigger retailers will be a big challenge for Shopify -- but <a href=\"https://laohu8.com/S/AONE.U\">one</a> that could be highly profitable if it can pull it off.</p><p>Given the expectation for continued double-digit percentage growth, Shopify stock appears cheap at just 27 times trailing 12-month earnings. It isn&#39;t, especially considering Shopify Fulfillment Network is going to cost about $1 billion to build over the next few years. Nevertheless, this company has proven its worth in the retail world, and it has a mission that aligns with the benefit of its large and expanding user base. Shopify looks like a fantastic buy right now ahead of its proposed stock split.</p><h2>2. Alphabet: The internet is a secular growth megatrend</h2><p>In July, Google parent company Alphabet will undergo a 20-for-1 stock split. The last time the internet search leader underwent such activity was in 2014. Since then, Alphabet shares have risen over 350%.</p><p>There are plenty of reasons to believe Alphabet will continue to provide steady growth for many years to come. For one thing, its bread-and-butter business selling digital ads is still steadily gobbling up global market share of the overall advertising industry (on pace to reach $1 trillion a year in global spending). Digital ads have a lot of benefits for marketers, and they&#39;re highly profitable for Google.</p><p>Alphabet is using those profits from its core Google business (&#34;Google Services&#34; generated an operating profit margin of 37% in 2021) to fuel lots of other projects. Google Cloud is chief among them. Organizations are migrating their IT workloads to data centers and adopting cloud-based services, providing Google with a second secular growth megatrend beyond just digital ads. Add in Google Payments, YouTube, various subscription services, self-driving cars, and more, and Google has no shortage of directions to take its business.</p><p>Plus this is one of the deepest-pocketed organizations around. Alphabet had $140 billion in cash and short-term investments on hand at the end of 2021, offset by debt of only $14.8 billion. Trading for just 26 times trailing 12-month free cash flow, Alphabet stock looks like one of the best long-term values out there right now.</p><h2>3. Tesla: Still massive upside for the EV market</h2><p>Tesla had its last 5-for-1 stock split over the summer of 2020, and shares have doubled in value since then. In recent regulatory filings, the company has indicated it will put another stock split on the table for shareholders to vote on.</p><p>The real reason to invest in Tesla right now, though, is the massive consumer migration from traditional internal combustion engine vehicles to electric vehicles. Of the nearly-67 million vehicles sold worldwide in 2021, only about 6.5 million were electric vehicles (EVs). Tesla delivered just over 936,000 vehicles in 2021.</p><p>As legacy automakers and other EV start-ups fire up their assembly lines for next-gen cars, it isn&#39;t reasonable to expect Tesla to continue commanding such a large slice of the EV market share. However, management thinks it can continue growing sales at roughly the same rate as the EV space overall, about 50% per year, for the next few years. For an automaker that just cranked out over $45 billion worth of vehicle sales in 2021 (less environmental regulatory credits sold to other automakers), that&#39;s an ambitious growth rate.</p><p>A few catalysts could help Tesla supercharge its way to $100 billion in annual sales and beyond. Its new Gigafactories in Berlin and Austin, Texas, are now live. Though temporarily shuttered due to a coronavirus outbreak, the Gigafactory in Shanghai will handle production in Asia. More factories are likely on the way, as are new models like the Cybertruck. At 71 times one-year forward expected earnings, fantastic execution of its expansion plans is already priced into this stock. But if you think the move to EVs will continue at a rapid pace for the next decade, there&#39;s a lot to like about Tesla even at these sky-high prices.</p><h2>4. Amazon: A fantastic allocator of capital goes on a spending spree</h2><p>For in-the-know investors, Amazon&#39;s mind-boggling run higher isn&#39;t simply a story of e-commerce expansion. It&#39;s true, Amazon used its early lead in selling online to its advantage, but that&#39;s not really what has made the stock move nearly <i>155,000% higher</i> since its IPO in 1997. Rather, it&#39;s been the company&#39;s success in allocating capital to highly profitable new projects adjacent to its e-commerce empire that has been the key ingredient to its success.</p><p>Amazon Web Services (AWS), the cloud computing segment that started simply by &#34;renting out&#34; extra data center capacity from the e-commerce segment, generated only 13% of all revenue last year. However, AWS operating profit accounted for 75% of Amazon&#39;s grand total. Other services like advertising on its merchant platform accounted for much of the rest of operating income.</p><p>Amazon spent an incredible $65 billion on capital expenditures (property, plant, and equipment) to support its long-term growth last year. With infrastructure costs only increasing thanks to inflation, that pace of spending isn&#39;t likely to abate anytime soon. For reference, Amazon&#39;s capital expenditures were $20 billion in 2020. The explosion in spending in support of steady expansion has put pressure on the e-commerce giant&#39;s bottom line. Shares currently trade for 47 times trailing 12-month earnings, and 240 times trailing 12-month free cash flow.</p><p>However, if you believe Amazon will continue to be an excellent allocator of capital to the right projects at the right time, there&#39;s a lot to like about that explosion in capital investment. Amazon is also undergoing a 20-for-1 stock split in May, but there is a multitude of longer-term reasons to buy and hold beyond this one-time stock split event.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?</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\">\nShopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-13 09:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shopify just joined Amazon, Alphabet, and Tesla in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a \"founder's share\" for co-founder and CEO Tobi...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4581":"高盛持仓","TSLA":"特斯拉","BK4122":"互联网与直销零售","BK4503":"景林资产持仓","BK4548":"巴美列捷福持仓","GOOG":"谷歌","BK4528":"SaaS概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","AMZN":"亚马逊","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4507":"流媒体概念","BK4566":"资本集团","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4538":"云计算","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4116":"互联网服务与基础架构","BK4550":"红杉资本持仓","BK4579":"人工智能","SHOP":"Shopify Inc","GOOGL":"谷歌A","BBY":"百思买","BK4511":"特斯拉概念","BK4574":"无人驾驶","BK4551":"寇图资本持仓","BK4561":"索罗斯持仓"},"source_url":"https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2226866854","content_text":"Shopify just joined Amazon, Alphabet, and Tesla in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a \"founder's share\" for co-founder and CEO Tobi Lütke is also being proposed (which would give Lütke 40% of total Shopify voting power).Companies split their stocks for good reasons, like to better manage stock-based compensation to employees or share buybacks. However, a stock split by itself doesn't change a company's fundamental value, so business health should be assessed rather than stock price when contemplating a buy. With that in mind, here's why each of these stock split companies is a worthwhile long-term buy-and-hold right now.Image source: Getty Images.1. Shopify: A 100-year mission still early in its developmentI'll start with Shopify, because this is my favorite company among the stock split candidates discussed here. I believe this stock also has some of the biggest upside potential in the next decade and beyond.Shopify is on a \"100 year mission to make commerce better for everyone.\" Since its IPO in 2015, shares are up over 2,300%, and that's despite the recent 60%-plus sell-off from all-time highs. Suffice to say the journey has been highly profitable so far. Shopify's software suite helps aspiring entrepreneurs, small businesses, and fast-growing retail brands manage their sales online and via traditional in-person channels. Services include everything from website management to social media marketing to digital payment acceptance.Shopify's focus over the next couple of years will be scaling its Fulfillment Network, local warehouses from which Shopify users can manage inventory and quickly ship orders to customers. In an era of fast fulfillment, giving small merchants similar shipping options as bigger retailers will be a big challenge for Shopify -- but one that could be highly profitable if it can pull it off.Given the expectation for continued double-digit percentage growth, Shopify stock appears cheap at just 27 times trailing 12-month earnings. It isn't, especially considering Shopify Fulfillment Network is going to cost about $1 billion to build over the next few years. Nevertheless, this company has proven its worth in the retail world, and it has a mission that aligns with the benefit of its large and expanding user base. Shopify looks like a fantastic buy right now ahead of its proposed stock split.2. Alphabet: The internet is a secular growth megatrendIn July, Google parent company Alphabet will undergo a 20-for-1 stock split. The last time the internet search leader underwent such activity was in 2014. Since then, Alphabet shares have risen over 350%.There are plenty of reasons to believe Alphabet will continue to provide steady growth for many years to come. For one thing, its bread-and-butter business selling digital ads is still steadily gobbling up global market share of the overall advertising industry (on pace to reach $1 trillion a year in global spending). Digital ads have a lot of benefits for marketers, and they're highly profitable for Google.Alphabet is using those profits from its core Google business (\"Google Services\" generated an operating profit margin of 37% in 2021) to fuel lots of other projects. Google Cloud is chief among them. Organizations are migrating their IT workloads to data centers and adopting cloud-based services, providing Google with a second secular growth megatrend beyond just digital ads. Add in Google Payments, YouTube, various subscription services, self-driving cars, and more, and Google has no shortage of directions to take its business.Plus this is one of the deepest-pocketed organizations around. Alphabet had $140 billion in cash and short-term investments on hand at the end of 2021, offset by debt of only $14.8 billion. Trading for just 26 times trailing 12-month free cash flow, Alphabet stock looks like one of the best long-term values out there right now.3. Tesla: Still massive upside for the EV marketTesla had its last 5-for-1 stock split over the summer of 2020, and shares have doubled in value since then. In recent regulatory filings, the company has indicated it will put another stock split on the table for shareholders to vote on.The real reason to invest in Tesla right now, though, is the massive consumer migration from traditional internal combustion engine vehicles to electric vehicles. Of the nearly-67 million vehicles sold worldwide in 2021, only about 6.5 million were electric vehicles (EVs). Tesla delivered just over 936,000 vehicles in 2021.As legacy automakers and other EV start-ups fire up their assembly lines for next-gen cars, it isn't reasonable to expect Tesla to continue commanding such a large slice of the EV market share. However, management thinks it can continue growing sales at roughly the same rate as the EV space overall, about 50% per year, for the next few years. For an automaker that just cranked out over $45 billion worth of vehicle sales in 2021 (less environmental regulatory credits sold to other automakers), that's an ambitious growth rate.A few catalysts could help Tesla supercharge its way to $100 billion in annual sales and beyond. Its new Gigafactories in Berlin and Austin, Texas, are now live. Though temporarily shuttered due to a coronavirus outbreak, the Gigafactory in Shanghai will handle production in Asia. More factories are likely on the way, as are new models like the Cybertruck. At 71 times one-year forward expected earnings, fantastic execution of its expansion plans is already priced into this stock. But if you think the move to EVs will continue at a rapid pace for the next decade, there's a lot to like about Tesla even at these sky-high prices.4. Amazon: A fantastic allocator of capital goes on a spending spreeFor in-the-know investors, Amazon's mind-boggling run higher isn't simply a story of e-commerce expansion. It's true, Amazon used its early lead in selling online to its advantage, but that's not really what has made the stock move nearly 155,000% higher since its IPO in 1997. Rather, it's been the company's success in allocating capital to highly profitable new projects adjacent to its e-commerce empire that has been the key ingredient to its success.Amazon Web Services (AWS), the cloud computing segment that started simply by \"renting out\" extra data center capacity from the e-commerce segment, generated only 13% of all revenue last year. However, AWS operating profit accounted for 75% of Amazon's grand total. Other services like advertising on its merchant platform accounted for much of the rest of operating income.Amazon spent an incredible $65 billion on capital expenditures (property, plant, and equipment) to support its long-term growth last year. With infrastructure costs only increasing thanks to inflation, that pace of spending isn't likely to abate anytime soon. For reference, Amazon's capital expenditures were $20 billion in 2020. The explosion in spending in support of steady expansion has put pressure on the e-commerce giant's bottom line. Shares currently trade for 47 times trailing 12-month earnings, and 240 times trailing 12-month free cash flow.However, if you believe Amazon will continue to be an excellent allocator of capital to the right projects at the right time, there's a lot to like about that explosion in capital investment. Amazon is also undergoing a 20-for-1 stock split in May, but there is a multitude of longer-term reasons to buy and hold beyond this one-time stock split event.","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9090432454,"gmtCreate":1643243214900,"gmtModify":1676533789282,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Sigh.&nbsp;","listText":"Sigh.&nbsp;","text":"Sigh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090432454","repostId":"1145889505","repostType":2,"repost":{"id":"1145889505","pubTimestamp":1643242504,"share":"https://www.laohu8.com/m/news/1145889505?lang=&edition=full","pubTime":"2022-01-27 08:15","market":"us","language":"en","title":"Singapore Bourse Expected To Be Rangebound On Thursday","url":"https://stock-news.laohu8.com/highlight/detail?id=1145889505","media":"RTTNews","summary":"The Singapore stock market on Wednesday halted the two-day slide in which it had stumbled almost 50 ","content":"<html><head></head><body><p>The Singapore stock market on Wednesday halted the two-day slide in which it had stumbled almost 50 points or 1.4 percent. The Straits Times Index now sits just above the 3,270-point plateau and it&#39;s likely to be stuck in neutral on Thursday.</p><p>The global forecast for the Asian markets is mixed after the Federal Reserve signaled a rate hike in the near future, although it&#39;s already been largely priced in. Surging crude oil prices should also limit the downside. The European markets were up and the U.S. bourse were mixed and little changed and the Asian markets figure to follow the latter lead.</p><p>The STI finished modestly higher on Wednesday following gains from the financial shares and industrials.</p><p>For the day, the index gained 23.81 points or 0.73 percent to finish at 3,271.57 after trading between 3,250.21 and 3,280.48. Volume was 1.21 billion shares worth 1.08 billion Singapore dollars. There were 263 gainers and 190 decliners.</p><p>Among the actives, Ascendas REIT rose 0.35 percent, while CapitaLand Integrated Commercial Trust dropped 1.00 percent, City Developments strengthened 1.42 percent, Comfort DelGro improved 0.74 percent, Dairy Farm International lost 0.70 percent, DBS Group collected 0.31 percent, Genting Singapore jumped 1.35 percent, Keppel Corp gained 0.75 percent, Mapletree Commercial Trust and Hongkong Land both increased 0.55 percent, Oversea-Chinese Banking Corporation spiked 1.65 percent, SembCorp Industries advanced 0.90 percent, Singapore Airlines rallied 1.20 percent, Singapore Exchange accelerated 1.60 percent, Singapore Technologies Engineering was up 0.27 percent, SingTel added 0.81 percent, Thai Beverage sank 0.77 percent, United Overseas Bank climbed 0.98 percent, Wilmar International surged 2.40 percent, Yangzijiang Shipbuilding soared 2.38 percent and SATS, Singapore Press Holdings and Mapletree Logistics Trust were unchanged.</p><p>The lead from Wall Street is mixed to lower as the major averages opened firmly higher on Wednesday before late selling sent the Dow and S&amp;P into the red.</p><p>The Dow dropped 129.64 points or 0.38 percent to finish at 34,168.09, while the NASDAQ rose 2.82 points or 0.02 percent to close at 13,542.12 and the S&amp;P 500 fell 6.52 points or 0.15 percent to end at 4,349.93.</p><p>The late-day pullback on Wall Street came after the Fed indicated that it plans to begin raising interest rates &#34;soon,&#34; citing elevated inflation and a strong labor market. The Fed left interest rates unchanged at near-zero levels as widely expected but said &#34;it will soon be appropriate to raise the target range for the federal funds rate.&#34;</p><p>The central bank also said it would further reduce the pace of its bond purchases to $30 billion per month beginning in February, with the Fed saying it expects to end its asset purchase program by early March.</p><p>In a separate statement, the Fed outlined plans to significantly reduce the size of its balance sheet, saying it expects to start the reductions after it begins raising interest rates.</p><p>Crude oil futures settled higher on Wednesday as prices climbed amid rising geopolitical tensions. U.S. President Joe Biden has warned Moscow of damaging sanctions, including measures personally targeting President Vladmir Putin, if Russia invades Ukraine. West Texas Intermediate Crude oil futures for March ended higher by $1.75 or 2 percent at $87.35 a barrel, the highest settlement since October 2014.</p></body></html>","source":"lsy1626938412129","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>Singapore Bourse Expected To Be Rangebound On Thursday</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\">\nSingapore Bourse Expected To Be Rangebound On Thursday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-27 08:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.rttnews.com/3257563/singapore-bourse-expected-to-be-rangebound-on-thursday.aspx><strong>RTTNews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Singapore stock market on Wednesday halted the two-day slide in which it had stumbled almost 50 points or 1.4 percent. The Straits Times Index now sits just above the 3,270-point plateau and it's ...</p>\n\n<a href=\"https://www.rttnews.com/3257563/singapore-bourse-expected-to-be-rangebound-on-thursday.aspx\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.rttnews.com/3257563/singapore-bourse-expected-to-be-rangebound-on-thursday.aspx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145889505","content_text":"The Singapore stock market on Wednesday halted the two-day slide in which it had stumbled almost 50 points or 1.4 percent. The Straits Times Index now sits just above the 3,270-point plateau and it's likely to be stuck in neutral on Thursday.The global forecast for the Asian markets is mixed after the Federal Reserve signaled a rate hike in the near future, although it's already been largely priced in. Surging crude oil prices should also limit the downside. The European markets were up and the U.S. bourse were mixed and little changed and the Asian markets figure to follow the latter lead.The STI finished modestly higher on Wednesday following gains from the financial shares and industrials.For the day, the index gained 23.81 points or 0.73 percent to finish at 3,271.57 after trading between 3,250.21 and 3,280.48. Volume was 1.21 billion shares worth 1.08 billion Singapore dollars. There were 263 gainers and 190 decliners.Among the actives, Ascendas REIT rose 0.35 percent, while CapitaLand Integrated Commercial Trust dropped 1.00 percent, City Developments strengthened 1.42 percent, Comfort DelGro improved 0.74 percent, Dairy Farm International lost 0.70 percent, DBS Group collected 0.31 percent, Genting Singapore jumped 1.35 percent, Keppel Corp gained 0.75 percent, Mapletree Commercial Trust and Hongkong Land both increased 0.55 percent, Oversea-Chinese Banking Corporation spiked 1.65 percent, SembCorp Industries advanced 0.90 percent, Singapore Airlines rallied 1.20 percent, Singapore Exchange accelerated 1.60 percent, Singapore Technologies Engineering was up 0.27 percent, SingTel added 0.81 percent, Thai Beverage sank 0.77 percent, United Overseas Bank climbed 0.98 percent, Wilmar International surged 2.40 percent, Yangzijiang Shipbuilding soared 2.38 percent and SATS, Singapore Press Holdings and Mapletree Logistics Trust were unchanged.The lead from Wall Street is mixed to lower as the major averages opened firmly higher on Wednesday before late selling sent the Dow and S&P into the red.The Dow dropped 129.64 points or 0.38 percent to finish at 34,168.09, while the NASDAQ rose 2.82 points or 0.02 percent to close at 13,542.12 and the S&P 500 fell 6.52 points or 0.15 percent to end at 4,349.93.The late-day pullback on Wall Street came after the Fed indicated that it plans to begin raising interest rates \"soon,\" citing elevated inflation and a strong labor market. The Fed left interest rates unchanged at near-zero levels as widely expected but said \"it will soon be appropriate to raise the target range for the federal funds rate.\"The central bank also said it would further reduce the pace of its bond purchases to $30 billion per month beginning in February, with the Fed saying it expects to end its asset purchase program by early March.In a separate statement, the Fed outlined plans to significantly reduce the size of its balance sheet, saying it expects to start the reductions after it begins raising interest rates.Crude oil futures settled higher on Wednesday as prices climbed amid rising geopolitical tensions. U.S. President Joe Biden has warned Moscow of damaging sanctions, including measures personally targeting President Vladmir Putin, if Russia invades Ukraine. West Texas Intermediate Crude oil futures for March ended higher by $1.75 or 2 percent at $87.35 a barrel, the highest settlement since October 2014.","news_type":1},"isVote":1,"tweetType":1,"viewCount":176,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575443999456708","authorId":"3575443999456708","name":"ponyinvestor","avatar":"https://static.tigerbbs.com/138d1ebc8820019726a687f0ffe45994","crmLevel":2,"crmLevelSwitch":0},"content":"Like wnd comment","text":"Like wnd comment","html":"Like wnd comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813940892,"gmtCreate":1630124627516,"gmtModify":1676530231018,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/813940892","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965037676,"gmtCreate":1669855783695,"gmtModify":1676538256996,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9965037676","repostId":"1151360919","repostType":4,"repost":{"id":"1151360919","pubTimestamp":1669850170,"share":"https://www.laohu8.com/m/news/1151360919?lang=&edition=full","pubTime":"2022-12-01 07:16","market":"us","language":"en","title":"Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December","url":"https://stock-news.laohu8.com/highlight/detail?id=1151360919","media":"The Wall Street Journal","summary":"WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on t","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/0742c30af7ca0e2b2064f2e5c4a7b9ba\" tg-width=\"620\" tg-height=\"349\" referrerpolicy=\"no-referrer\"/>WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.</p><p>Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.</p><ul><li>Markets Live Blog: Stocks Swing to Gains, Bond Yields Fall During Powell Speech</li><li>Third-Quarter U.S. Growth Was Stronger Than Previously Thought</li><li>U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says</li></ul><p>Because the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said at an event at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.</p><p>Fed officialslifted their benchmark rate by 0.75 percentage point on Nov. 2to a range between 3.75% and 4%, which is up from near zero in early March. Many officials have signaled they are leaning toward approving a 0.5-point increase at their Dec. 13-14 meeting.</p><p>Investors have been eager for evidence that the central bank would slow its pace of rate rises, andmarkets ralliedafter Mr. Powell’s remarks. The Dow Jones Industrial Average rose 2.2%, or about 735 points, enough to put the index back in a bull market, defined as a 20% rise from a recent low. The yield on the benchmark 10-year Treasury note declined to 3.699% Wednesday from 3.746% Tuesday.</p><p>Mr. Powell suggested Fed officials were moving into a new phase of policy tightening in which they would try to judge just how high rates need to rise. “My colleagues and I do not want to overtighten because … cutting rates is not something we want to do soon,” he said. “That’s why we’re slowing down, and I’m going to try to find our way to what that right level is.”</p><p>Mr. Powell reviewed signs of progress on the inflation fight, including a slowdown in interest-rate sensitive sectors of the economy such as housing and improving supply-chain conditions. But he said that declines in rents and goods prices might be insufficient if firms don’t slow their hiring to bring the strong demand for labor into better balance with a shortfall in the supply of workers.</p><p>Labor demand has eased some in recent months.Job openingstotaled a seasonally adjusted 10.3 million in October, the Labor Department reported Wednesday. That was down from 10.7 million in September but far exceeded the 6.1 million unemployed people seeking work in October.</p><p>The labor market “shows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2% inflation,” Mr. Powell said. “Despite some promising developments, we have a long way to go in restoring price stability.”</p><p>The Fed has raised interest rates this year at the most rapid pace since the early 1980s to battle inflation that is running near a 40-year high. Officials seek to reduce inflation by slowing the economy through tighter financial conditions—such as higher borrowing costs, lower stock prices and a stronger dollar—which typically curb demand.</p><p>The U.S. economy shrank slightly in the first half of this year, but grew more briskly in the third quarter than previously estimated. Gross domestic product increased at an inflation-adjustedannual rate of 2.9%from July through September, up from an initial estimate of 2.6%, the Commerce Department said Wednesday.</p><p>Awave of layoffshas rippled across industries such as tech, entertainment and real estate. CNN on Wednesdaysaid it is laying offemployees,DoorDashInc.said it would cut staffandAMC NetworksInc. said in a memo to employees thatit plans to lay off about 20% of its workforce.</p><p>A big question now for the Fed is how much further to raise rates. Some officials are concerned about causing unnecessary damage to the economy and labor market because it takes time for the full effects of those increases to ripple through the economy.</p><p>Other policy makers are concerned that price pressures could stay high because, despite improvements in supply chains and commodity markets, prices have picked up for more labor-intensive services.</p><p>Mr. Powell pushed back against concerns that the Fed was raising rates too aggressively by warning that allowing rapid price increases to persist could cause consumers to expect continued high inflation, making it more entrenched.</p><p>“It can’t be that we can go on for five years at a very high level of inflation and that it doesn’t work its way into the wage- and price-setting process pretty quickly. That’s a serious concern,” he said.</p><p>Mr. Powell repeated his earlier view that officials were likely to raise rates to a somewhat higher level early next year than they had anticipated in projections released after their September meeting, when most officials saw their benchmark rate rising to between 4.5% and 5%.</p><p>Mr. Powell focused part of his remarks on exploring why the share of Americans seeking work remains below its prepandemic level. The analysis carries important implications for setting interest rates because if wage pressures remain stronger in the coming years, that could lead to a period of greater volatility in wages, inflation and borrowing costs.</p><p>Mr. Powell said most of the shortfall appears to reflect older Americanswho retired earlywhen the pandemic hit the U.S. in March 2020 and from slower growth in the working-age population, which he said could reflect reduced levels of legal immigration and a surge in deaths during the pandemic.</p><p>Steps to boost workforce participation aren’t controlled by the Fed and wouldn’t be able to take effect rapidly enough to address the current bout of high inflation, Mr. Powell said.</p><p>The upshot is that Fed policy will seek to slow inflation and wage growth by reducing demand for workers, a subject that Mr. Powell addressed delicately on Wednesday. “For the near term, a moderation of labor demand growth will be required to restore balance to the labor market,” he said.</p><p>While strong wage growth “is a good thing,” he implied it is too high right now to support a return to the Fed’s 2% inflation target. “For wage growth to be sustainable, it needs to be consistent with 2% inflation,” he said.</p><p>Mr. Powell said the Fed’s preferred measure of inflation, the personal-consumption expenditures price index, likely rose around 6% in October from a year earlier, down from 6.2% in September. The Commerce Department is set to release October figures on Thursday. When stripped of volatile food and energy prices, the so-called core index likely increased around 5%, down from 5.1% in September, he said.</p><p>Separately, Treasury Secretary Janet Yellen said on Wednesday that inflation could come down without broad layoffs occurring across the economy if companies slow hiring by reducing the number of unfilled jobs they are trying to fill.</p><p>The Labor Department is set to release its November employment report on Friday, which will include details on hiring, wage growth and joblessness. The unemployment ratestood at 3.7%in October.</p><p>A jobless rate between 4% and 5% would still indicate a robust labor market, Ms. Yellen said at a New York Times event. “I think we can make a lot of progress in the labor market just on the hiring...and job-opening side. I don’t think it’s necessary to see very substantial layoffs,” she added.</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December</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\">\nJerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-01 07:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an ...</p>\n\n<a href=\"https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043?mod=hp_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151360919","content_text":"WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.Markets Live Blog: Stocks Swing to Gains, Bond Yields Fall During Powell SpeechThird-Quarter U.S. Growth Was Stronger Than Previously ThoughtU.S. Economic Growth Slowed This Fall, Fed’s Beige Book SaysBecause the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said at an event at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.Fed officialslifted their benchmark rate by 0.75 percentage point on Nov. 2to a range between 3.75% and 4%, which is up from near zero in early March. Many officials have signaled they are leaning toward approving a 0.5-point increase at their Dec. 13-14 meeting.Investors have been eager for evidence that the central bank would slow its pace of rate rises, andmarkets ralliedafter Mr. Powell’s remarks. The Dow Jones Industrial Average rose 2.2%, or about 735 points, enough to put the index back in a bull market, defined as a 20% rise from a recent low. The yield on the benchmark 10-year Treasury note declined to 3.699% Wednesday from 3.746% Tuesday.Mr. Powell suggested Fed officials were moving into a new phase of policy tightening in which they would try to judge just how high rates need to rise. “My colleagues and I do not want to overtighten because … cutting rates is not something we want to do soon,” he said. “That’s why we’re slowing down, and I’m going to try to find our way to what that right level is.”Mr. Powell reviewed signs of progress on the inflation fight, including a slowdown in interest-rate sensitive sectors of the economy such as housing and improving supply-chain conditions. But he said that declines in rents and goods prices might be insufficient if firms don’t slow their hiring to bring the strong demand for labor into better balance with a shortfall in the supply of workers.Labor demand has eased some in recent months.Job openingstotaled a seasonally adjusted 10.3 million in October, the Labor Department reported Wednesday. That was down from 10.7 million in September but far exceeded the 6.1 million unemployed people seeking work in October.The labor market “shows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2% inflation,” Mr. Powell said. “Despite some promising developments, we have a long way to go in restoring price stability.”The Fed has raised interest rates this year at the most rapid pace since the early 1980s to battle inflation that is running near a 40-year high. Officials seek to reduce inflation by slowing the economy through tighter financial conditions—such as higher borrowing costs, lower stock prices and a stronger dollar—which typically curb demand.The U.S. economy shrank slightly in the first half of this year, but grew more briskly in the third quarter than previously estimated. Gross domestic product increased at an inflation-adjustedannual rate of 2.9%from July through September, up from an initial estimate of 2.6%, the Commerce Department said Wednesday.Awave of layoffshas rippled across industries such as tech, entertainment and real estate. CNN on Wednesdaysaid it is laying offemployees,DoorDashInc.said it would cut staffandAMC NetworksInc. said in a memo to employees thatit plans to lay off about 20% of its workforce.A big question now for the Fed is how much further to raise rates. Some officials are concerned about causing unnecessary damage to the economy and labor market because it takes time for the full effects of those increases to ripple through the economy.Other policy makers are concerned that price pressures could stay high because, despite improvements in supply chains and commodity markets, prices have picked up for more labor-intensive services.Mr. Powell pushed back against concerns that the Fed was raising rates too aggressively by warning that allowing rapid price increases to persist could cause consumers to expect continued high inflation, making it more entrenched.“It can’t be that we can go on for five years at a very high level of inflation and that it doesn’t work its way into the wage- and price-setting process pretty quickly. That’s a serious concern,” he said.Mr. Powell repeated his earlier view that officials were likely to raise rates to a somewhat higher level early next year than they had anticipated in projections released after their September meeting, when most officials saw their benchmark rate rising to between 4.5% and 5%.Mr. Powell focused part of his remarks on exploring why the share of Americans seeking work remains below its prepandemic level. The analysis carries important implications for setting interest rates because if wage pressures remain stronger in the coming years, that could lead to a period of greater volatility in wages, inflation and borrowing costs.Mr. Powell said most of the shortfall appears to reflect older Americanswho retired earlywhen the pandemic hit the U.S. in March 2020 and from slower growth in the working-age population, which he said could reflect reduced levels of legal immigration and a surge in deaths during the pandemic.Steps to boost workforce participation aren’t controlled by the Fed and wouldn’t be able to take effect rapidly enough to address the current bout of high inflation, Mr. Powell said.The upshot is that Fed policy will seek to slow inflation and wage growth by reducing demand for workers, a subject that Mr. Powell addressed delicately on Wednesday. “For the near term, a moderation of labor demand growth will be required to restore balance to the labor market,” he said.While strong wage growth “is a good thing,” he implied it is too high right now to support a return to the Fed’s 2% inflation target. “For wage growth to be sustainable, it needs to be consistent with 2% inflation,” he said.Mr. Powell said the Fed’s preferred measure of inflation, the personal-consumption expenditures price index, likely rose around 6% in October from a year earlier, down from 6.2% in September. The Commerce Department is set to release October figures on Thursday. When stripped of volatile food and energy prices, the so-called core index likely increased around 5%, down from 5.1% in September, he said.Separately, Treasury Secretary Janet Yellen said on Wednesday that inflation could come down without broad layoffs occurring across the economy if companies slow hiring by reducing the number of unfilled jobs they are trying to fill.The Labor Department is set to release its November employment report on Friday, which will include details on hiring, wage growth and joblessness. The unemployment ratestood at 3.7%in October.A jobless rate between 4% and 5% would still indicate a robust labor market, Ms. Yellen said at a New York Times event. “I think we can make a lot of progress in the labor market just on the hiring...and job-opening side. I don’t think it’s necessary to see very substantial layoffs,” she added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884451316,"gmtCreate":1631928926135,"gmtModify":1676530671147,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/884451316","repostId":"2168716185","repostType":4,"repost":{"id":"2168716185","pubTimestamp":1631916051,"share":"https://www.laohu8.com/m/news/2168716185?lang=&edition=full","pubTime":"2021-09-18 06:00","market":"us","language":"en","title":"Wall Street closes rollercoaster week sharply lower","url":"https://stock-news.laohu8.com/highlight/detail?id=2168716185","media":"The Straits Times","summary":"NEW YORK  - US stocks ended sharply lower in a broad sell-off on Friday , ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.All three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.They also posted weekly losses, with the S&P index suffering its biggest tw","content":"<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes rollercoaster week sharply lower</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street closes rollercoaster week sharply lower\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-18 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500ETF","UPRO":"三倍做多标普500ETF",".SPX":"S&P 500 Index","SH":"标普500反向ETF","IVV":"标普500指数ETF","OEF":"标普100指数ETF-iShares","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","OEX":"标普100"},"source_url":"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2168716185","content_text":"NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.\nAll three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.\nThey also posted weekly losses, with the S&P index suffering its biggest two-week drop since February.\n\"The market is struggling with prospects for tighter fiscal policy due to tax increases, and tighter monetary policy due to Fed tapering,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York.\n\"Equity markets are also a little softer due to today's weak Consumer Sentiment data,\" Carter added. \"It's triggering concerns that the Delta variant could slow economic growth.\"\nA potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5 per cent from the current 21 per cent.\nWhile consumer sentiment steadied this month it remains depressed, according to a University of Michigan report, as Americans postpone purchases while inflation remains high.\nInflation is likely to be a major issue next week, when the Federal Open Markets Committee holds its two-day monetary policy meeting. Market participants will be watching closely for changes in nuance which could signal a shift in the Fed's tapering timeline.\n\"It has been a week of mixed economic data and we are focused clearly on what will come out of the Fed meeting next week,\" said Bill Northey, senior investment director at US Bank Wealth Management in Helena, Montana.\nThe Dow Jones Industrial Average fell 166.44 points, or 0.48 per cent, to 34,584.88; the S&P 500 lost 40.76 points, or 0.91 per cent, at 4,432.99; and the Nasdaq Composite dropped 137.96 points, or 0.91 per cent, to 15,043.97.\nThe S&P 500 ended below its 50-day moving average, which in recent history has proven a rather sturdy support level.\nOf the 11 major sectors in the S&P 500, all but healthcare ended in the red, with materials and utilities suffering the biggest percentage drops.\nWall Street ends rollercoaster week sharply lower\nCovid-19 vaccine manufacturers Pfizer and Moderna dropped 1.3 per cent and 2.4 per cent, respectively, as US health officials moved the debate over booster doses to a panel of independent experts.\nUS Steel Corp shed 8 per cent after it unveiled a US$3 billion (S$4 billion) mini-mill investment plan.\nVolume and volatility spiked toward the end of the session due to \"triple witching,\" which is the quarterly, simultaneous expiration of stock options, stock index futures, and stock index options contracts.\nVolume on US exchanges was 15.51 billion shares, compared with the 9.70 billion average over the last 20 trading days.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.97-to-1 ratio; on Nasdaq, a 1.00-to-1 ratio favoured advancers.\nThe S&P 500 posted seven new 52-week highs and two new lows; the Nasdaq Composite recorded 67 new highs and 82 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831250712,"gmtCreate":1629331386736,"gmtModify":1676530003459,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Sell off and wait?&nbsp;","listText":"Sell off and wait?&nbsp;","text":"Sell off and wait?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/831250712","repostId":"1161930198","repostType":4,"repost":{"id":"1161930198","pubTimestamp":1629331022,"share":"https://www.laohu8.com/m/news/1161930198?lang=&edition=full","pubTime":"2021-08-19 07:57","market":"us","language":"en","title":"Investors compare 2021 stock-market rally to the pre-crash summer of 1987 — should they?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161930198","media":"MarketWatch","summary":"‘Strength often begets strength,’ but there’s no guarantee\n'Wall Street' in the pre-working from hom","content":"<p>‘Strength often begets strength,’ but there’s no guarantee</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d3b6031d3c2b32047dfe87035791cad\" tg-width=\"1050\" tg-height=\"708\" width=\"100%\" height=\"auto\"><span>'Wall Street' in the pre-working from home era. EVERETT COLLECTION</span></p>\n<p>Some investors are drawing parallels between the stock market’s 2021 climb and the pattern seen in 1987, a year that saw a seemingly relentless rally completely undone by the “Black Monday” crash in October, but there are some important differences, analysts note.</p>\n<p>Granted, the comparison does feel appropriate, at least on the surface, said Nicholas Colas, co-founder of DataTrek Research, in a Wednesday note.</p>\n<p>“Everyone, from plugged-in hedge-fund managers to retail investors, is making money. The movie ‘Wall Street’ debuted in late 1987 and, while this decade’s Bud Fox may be working from home, the overall societal vibe is similar.”</p>\n<p>But the comparison doesn’t look so apt when comparing the year-to-date performances of the S&amp;P 500 index,he said. The large-cap benchmark was up 36% through Aug. 17, 1987, versus just 18% for the same period in 2021.</p>\n<p>As for the two years prior, 1985 and 1986 saw S&amp;P 500 total returns of 31% and 18%, respectively, matching up identically with returns in 2019 and 2020 which Colas acknowledged is a bit “spooky.” However, he maintained, the 2021 rally is still a “pale comparison” to what was going on in 1987.</p>\n<p>Stocks were&nbsp;mostly lower&nbsp;on Wednesday, a day after the S&amp;P 500 and the Dow Jones Industrial Average&nbsp;each snapped a five-session streak of record finishes.</p>\n<p>Meanwhile, analysts at Bespoke Investment Group this week pointed out that the S&amp;P 500 is on pace to set a record for, well, records. Tuesday’s all-time closing high was not only the fifth in a row, it was also the 49th of 2021. That puts the index on track for 78 closing highs this year, which would edge out the record 77 seen in 1995.</p>\n<p>It’s no sure thing, the Bespoke analysts cautioned, noting that even a 5% pullback could eat into the ability to maintain a record-breaking pace. They noted that since 1950, there have been five years where the S&amp;P 500 had more than 40 record highs through Aug. 16, and while both 1995 and 1964 were the leaders in those years, years like 1987, 1997, and 1998 also had more than 40 record highs at this point in the year, and none of them finished the year with more than 50.</p>\n<p>But more important, what does such a rapid pace of closing highs mean for full-year performance? It’s mostly positive, as one would suspect, though there are exceptions, including, of course, 1987 (see table below).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/981c0baa3da755be710dba80091eb0fd\" tg-width=\"1050\" tg-height=\"647\" width=\"100%\" height=\"auto\"><span>BESPOKE INVESTMENT GROUP</span></p>\n<p>The S&amp;P 500’s year-to-date gain is very similar to the median and average return of the five prior years in the table, the analysts noted.</p>\n<p>“Looking ahead, the median rest of year performance for the index from the close on 8/16 through year-end was a gain of 7.7% with positive returns four out of five times and more than doubling the average rest of year performance for all years since 1950,” they wrote, noting that “the one exception was in 1987 and it was a doozy.”</p>\n<p>So what should investors make of it all?</p>\n<p>The Bespoke analysts noted that the usual caveats apply — there’s no guarantee and past performance isn’t indicative of future results — but the data does underline the observation that “strength often begets strength in the market.”</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors compare 2021 stock-market rally to the pre-crash summer of 1987 — should they?</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\">\nInvestors compare 2021 stock-market rally to the pre-crash summer of 1987 — should they?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-19 07:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/investors-are-comparing-the-2021-stock-market-to-the-summer-of-1987-should-they-11629301481?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>‘Strength often begets strength,’ but there’s no guarantee\n'Wall Street' in the pre-working from home era. EVERETT COLLECTION\nSome investors are drawing parallels between the stock market’s 2021 climb...</p>\n\n<a href=\"https://www.marketwatch.com/story/investors-are-comparing-the-2021-stock-market-to-the-summer-of-1987-should-they-11629301481?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/investors-are-comparing-the-2021-stock-market-to-the-summer-of-1987-should-they-11629301481?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161930198","content_text":"‘Strength often begets strength,’ but there’s no guarantee\n'Wall Street' in the pre-working from home era. EVERETT COLLECTION\nSome investors are drawing parallels between the stock market’s 2021 climb and the pattern seen in 1987, a year that saw a seemingly relentless rally completely undone by the “Black Monday” crash in October, but there are some important differences, analysts note.\nGranted, the comparison does feel appropriate, at least on the surface, said Nicholas Colas, co-founder of DataTrek Research, in a Wednesday note.\n“Everyone, from plugged-in hedge-fund managers to retail investors, is making money. The movie ‘Wall Street’ debuted in late 1987 and, while this decade’s Bud Fox may be working from home, the overall societal vibe is similar.”\nBut the comparison doesn’t look so apt when comparing the year-to-date performances of the S&P 500 index,he said. The large-cap benchmark was up 36% through Aug. 17, 1987, versus just 18% for the same period in 2021.\nAs for the two years prior, 1985 and 1986 saw S&P 500 total returns of 31% and 18%, respectively, matching up identically with returns in 2019 and 2020 which Colas acknowledged is a bit “spooky.” However, he maintained, the 2021 rally is still a “pale comparison” to what was going on in 1987.\nStocks were mostly lower on Wednesday, a day after the S&P 500 and the Dow Jones Industrial Average each snapped a five-session streak of record finishes.\nMeanwhile, analysts at Bespoke Investment Group this week pointed out that the S&P 500 is on pace to set a record for, well, records. Tuesday’s all-time closing high was not only the fifth in a row, it was also the 49th of 2021. That puts the index on track for 78 closing highs this year, which would edge out the record 77 seen in 1995.\nIt’s no sure thing, the Bespoke analysts cautioned, noting that even a 5% pullback could eat into the ability to maintain a record-breaking pace. They noted that since 1950, there have been five years where the S&P 500 had more than 40 record highs through Aug. 16, and while both 1995 and 1964 were the leaders in those years, years like 1987, 1997, and 1998 also had more than 40 record highs at this point in the year, and none of them finished the year with more than 50.\nBut more important, what does such a rapid pace of closing highs mean for full-year performance? It’s mostly positive, as one would suspect, though there are exceptions, including, of course, 1987 (see table below).\nBESPOKE INVESTMENT GROUP\nThe S&P 500’s year-to-date gain is very similar to the median and average return of the five prior years in the table, the analysts noted.\n“Looking ahead, the median rest of year performance for the index from the close on 8/16 through year-end was a gain of 7.7% with positive returns four out of five times and more than doubling the average rest of year performance for all years since 1950,” they wrote, noting that “the one exception was in 1987 and it was a doozy.”\nSo what should investors make of it all?\nThe Bespoke analysts noted that the usual caveats apply — there’s no guarantee and past performance isn’t indicative of future results — but the data does underline the observation that “strength often begets strength in the market.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964734241,"gmtCreate":1670206074884,"gmtModify":1676538320130,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9964734241","repostId":"1174945241","repostType":4,"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9915718046,"gmtCreate":1665108152186,"gmtModify":1676537558695,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915718046","repostId":"2273380106","repostType":4,"repost":{"id":"2273380106","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":1665097319,"share":"https://www.laohu8.com/m/news/2273380106?lang=&edition=full","pubTime":"2022-10-07 07:01","market":"us","language":"en","title":"US STOCKS-Wall Street Closes Lower As the Fed Pounds Rate Hike Drum","url":"https://stock-news.laohu8.com/highlight/detail?id=2273380106","media":"Reuters","summary":"Oil prices add to inflation woes post-OPEC+ output cutU.S. weekly jobless claims increase more than expectedIndexes fall: Dow down 1.15%, S&P 1.02%, Nasdaq 0.68%Wall Street's major indexes closed lowe","content":"<html><head></head><body><ul><li>Oil prices add to inflation woes post-OPEC+ output cut</li><li>U.S. weekly jobless claims increase more than expected</li><li>Indexes fall: Dow down 1.15%, S&amp;P 1.02%, Nasdaq 0.68%</li></ul><p>Wall Street&#39;s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve&#39;s aggressive interest rate stance will lead to a recession.</p><p>Markets briefly took comfort from data that showed weekly jobless claims rose by the most in four months last week, raising a glimmer of hope the Fed could ease the implementation since March of the fastest and highest jump in rates in decades.</p><p>The equity market has been slow to acknowledge a consistent message from Fed officials that rates will go higher for longer until the pace of inflation is clearly slowing.</p><p>Chicago Fed President Charles Evans was the latest to spell out the central bank&#39;s outlook on Thursday, saying policymakers expect to deliver 125 basis points of rate hikes before year&#39;s end as inflation readings have been disappointing.</p><p>&#34;The market has been slowly getting the Fed&#39;s message,&#34; said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.</p><p>&#34;There&#39;s a likelihood that the Fed with further rate hikes pushes the economy into a recession in order to bring inflation down,&#34; Pride said. &#34;We don&#39;t think the markets have fully picked up on this.&#34;</p><p>Pride sees a mild recession, but in the average recession there has been a 15% decline in earnings, suggesting the market could fall further. The S&amp;P 500 has declined 22% from its peak on Jan. 3.</p><p>Despite the day&#39;s decline, the three major indexes were poised to post a weekly gain after the sharp rally on Monday and Tuesday.</p><p>The labor market remains tight even as demand begins to cool amid higher rates. On Friday the nonfarm payrolls report on employment in September will help investors gauge whether the Fed alters its aggressive rate-hiking plans.</p><p>Money markets are pricing in an almost 86% chance of a fourth straight 75 basis-point rate hike when policymakers meet on Nov. 1-2.</p><p>To be clear, not everyone foresees a hard landing.</p><p>Dave Sekera, chief U.S. market strategist at Morningstar Inc , said growth will remain sluggish for the foreseeable future and likely will not start to reaccelerate until the second half of 2023, but he does not see a sharp downturn.</p><p>&#34;We&#39;re not forecasting a recession,&#34; Sekera said. &#34;The markets are looking for clarity as to when they think economic activity will reaccelerate and make that sustained rebound.</p><p>&#34;They&#39;re also looking for strong evidence that inflation will begin to really trend down, moving back towards the Fed&#39;s 2% target,&#34; he said.</p><p>Ten of the 11 major S&amp;P 500 sectors fell, led by a 3.3% decline in real estate. Other indices also fell, including semiconductors, small caps and Dow transports. Growth shares fell 0.76%, while value dropped 1.18%.</p><p>Energy was the sole gainer, rising 1.8%.</p><p>Oil prices rose, holding at three-week highs after the Organization of the Petroleum Exporting Countries plus its allies agreed to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020.</p><p>The Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94, the S&amp;P 500 lost 38.76 points, or 1.02%, to 3,744.52 and the Nasdaq Composite dropped 75.33 points, or 0.68%, to 11,073.31.</p><p>Tesla Inc fell 1.1% as Apollo Global Management Inc and Sixth Street Partners, which had been looking to provide financing for Elon Musk&#39;s $44 billion Twitter deal, are no longer in talks with the billionaire.</p><p>Alphabet Inc closed basically flat after the launch of Google&#39;s new phones and its first smart watch.</p><p>Volume on U.S. exchanges was 10.57 billion shares, compared with the 11.67 billion average for the full session over the past 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.32-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted three new 52-week highs and 31 new lows; the Nasdaq Composite recorded 46 new highs and 118 new lows.</p><p><img src=\"https://static.tigerbbs.com/f19641e59325b2e46cc65fd6f210da36\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Closes Lower As the Fed Pounds Rate Hike Drum</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Closes Lower As the Fed Pounds Rate Hike Drum\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-07 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Oil prices add to inflation woes post-OPEC+ output cut</li><li>U.S. weekly jobless claims increase more than expected</li><li>Indexes fall: Dow down 1.15%, S&amp;P 1.02%, Nasdaq 0.68%</li></ul><p>Wall Street&#39;s major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve&#39;s aggressive interest rate stance will lead to a recession.</p><p>Markets briefly took comfort from data that showed weekly jobless claims rose by the most in four months last week, raising a glimmer of hope the Fed could ease the implementation since March of the fastest and highest jump in rates in decades.</p><p>The equity market has been slow to acknowledge a consistent message from Fed officials that rates will go higher for longer until the pace of inflation is clearly slowing.</p><p>Chicago Fed President Charles Evans was the latest to spell out the central bank&#39;s outlook on Thursday, saying policymakers expect to deliver 125 basis points of rate hikes before year&#39;s end as inflation readings have been disappointing.</p><p>&#34;The market has been slowly getting the Fed&#39;s message,&#34; said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.</p><p>&#34;There&#39;s a likelihood that the Fed with further rate hikes pushes the economy into a recession in order to bring inflation down,&#34; Pride said. &#34;We don&#39;t think the markets have fully picked up on this.&#34;</p><p>Pride sees a mild recession, but in the average recession there has been a 15% decline in earnings, suggesting the market could fall further. The S&amp;P 500 has declined 22% from its peak on Jan. 3.</p><p>Despite the day&#39;s decline, the three major indexes were poised to post a weekly gain after the sharp rally on Monday and Tuesday.</p><p>The labor market remains tight even as demand begins to cool amid higher rates. On Friday the nonfarm payrolls report on employment in September will help investors gauge whether the Fed alters its aggressive rate-hiking plans.</p><p>Money markets are pricing in an almost 86% chance of a fourth straight 75 basis-point rate hike when policymakers meet on Nov. 1-2.</p><p>To be clear, not everyone foresees a hard landing.</p><p>Dave Sekera, chief U.S. market strategist at Morningstar Inc , said growth will remain sluggish for the foreseeable future and likely will not start to reaccelerate until the second half of 2023, but he does not see a sharp downturn.</p><p>&#34;We&#39;re not forecasting a recession,&#34; Sekera said. &#34;The markets are looking for clarity as to when they think economic activity will reaccelerate and make that sustained rebound.</p><p>&#34;They&#39;re also looking for strong evidence that inflation will begin to really trend down, moving back towards the Fed&#39;s 2% target,&#34; he said.</p><p>Ten of the 11 major S&amp;P 500 sectors fell, led by a 3.3% decline in real estate. Other indices also fell, including semiconductors, small caps and Dow transports. Growth shares fell 0.76%, while value dropped 1.18%.</p><p>Energy was the sole gainer, rising 1.8%.</p><p>Oil prices rose, holding at three-week highs after the Organization of the Petroleum Exporting Countries plus its allies agreed to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020.</p><p>The Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94, the S&amp;P 500 lost 38.76 points, or 1.02%, to 3,744.52 and the Nasdaq Composite dropped 75.33 points, or 0.68%, to 11,073.31.</p><p>Tesla Inc fell 1.1% as Apollo Global Management Inc and Sixth Street Partners, which had been looking to provide financing for Elon Musk&#39;s $44 billion Twitter deal, are no longer in talks with the billionaire.</p><p>Alphabet Inc closed basically flat after the launch of Google&#39;s new phones and its first smart watch.</p><p>Volume on U.S. exchanges was 10.57 billion shares, compared with the 11.67 billion average for the full session over the past 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.32-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted three new 52-week highs and 31 new lows; the Nasdaq Composite recorded 46 new highs and 118 new lows.</p><p><img src=\"https://static.tigerbbs.com/f19641e59325b2e46cc65fd6f210da36\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2273380106","content_text":"Oil prices add to inflation woes post-OPEC+ output cutU.S. weekly jobless claims increase more than expectedIndexes fall: Dow down 1.15%, S&P 1.02%, Nasdaq 0.68%Wall Street's major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve's aggressive interest rate stance will lead to a recession.Markets briefly took comfort from data that showed weekly jobless claims rose by the most in four months last week, raising a glimmer of hope the Fed could ease the implementation since March of the fastest and highest jump in rates in decades.The equity market has been slow to acknowledge a consistent message from Fed officials that rates will go higher for longer until the pace of inflation is clearly slowing.Chicago Fed President Charles Evans was the latest to spell out the central bank's outlook on Thursday, saying policymakers expect to deliver 125 basis points of rate hikes before year's end as inflation readings have been disappointing.\"The market has been slowly getting the Fed's message,\" said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia.\"There's a likelihood that the Fed with further rate hikes pushes the economy into a recession in order to bring inflation down,\" Pride said. \"We don't think the markets have fully picked up on this.\"Pride sees a mild recession, but in the average recession there has been a 15% decline in earnings, suggesting the market could fall further. The S&P 500 has declined 22% from its peak on Jan. 3.Despite the day's decline, the three major indexes were poised to post a weekly gain after the sharp rally on Monday and Tuesday.The labor market remains tight even as demand begins to cool amid higher rates. On Friday the nonfarm payrolls report on employment in September will help investors gauge whether the Fed alters its aggressive rate-hiking plans.Money markets are pricing in an almost 86% chance of a fourth straight 75 basis-point rate hike when policymakers meet on Nov. 1-2.To be clear, not everyone foresees a hard landing.Dave Sekera, chief U.S. market strategist at Morningstar Inc , said growth will remain sluggish for the foreseeable future and likely will not start to reaccelerate until the second half of 2023, but he does not see a sharp downturn.\"We're not forecasting a recession,\" Sekera said. \"The markets are looking for clarity as to when they think economic activity will reaccelerate and make that sustained rebound.\"They're also looking for strong evidence that inflation will begin to really trend down, moving back towards the Fed's 2% target,\" he said.Ten of the 11 major S&P 500 sectors fell, led by a 3.3% decline in real estate. Other indices also fell, including semiconductors, small caps and Dow transports. Growth shares fell 0.76%, while value dropped 1.18%.Energy was the sole gainer, rising 1.8%.Oil prices rose, holding at three-week highs after the Organization of the Petroleum Exporting Countries plus its allies agreed to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020.The Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94, the S&P 500 lost 38.76 points, or 1.02%, to 3,744.52 and the Nasdaq Composite dropped 75.33 points, or 0.68%, to 11,073.31.Tesla Inc fell 1.1% as Apollo Global Management Inc and Sixth Street Partners, which had been looking to provide financing for Elon Musk's $44 billion Twitter deal, are no longer in talks with the billionaire.Alphabet Inc closed basically flat after the launch of Google's new phones and its first smart watch.Volume on U.S. exchanges was 10.57 billion shares, compared with the 11.67 billion average for the full session over the past 20 trading days.Declining issues outnumbered advancing ones on the NYSE by a 2.32-to-1 ratio; on Nasdaq, a 1.42-to-1 ratio favored decliners.The S&P 500 posted three new 52-week highs and 31 new lows; the Nasdaq Composite recorded 46 new highs and 118 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9074057099,"gmtCreate":1658277618511,"gmtModify":1676536132805,"author":{"id":"3581550518409224","authorId":"3581550518409224","name":"superduper","avatar":"https://static.tigerbbs.com/04a121c70123b41a7011f9ec45096505","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9074057099","repostId":"2252275158","repostType":4,"repost":{"id":"2252275158","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":1658272419,"share":"https://www.laohu8.com/m/news/2252275158?lang=&edition=full","pubTime":"2022-07-20 07:13","market":"us","language":"en","title":"US STOCKS-Wall Street Closes Sharply Higher on Strong Corporate Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2252275158","media":"Reuters","summary":"U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earni","content":"<html><head></head><body><p>U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.</p><p>The S&amp;P 500    gained 2.8%, the highest close since June 9. The tech-heavy Nasdaq Composite added 3.1%, marking the biggest one-day percentage gain since June 24.</p><p>Shares of Halliburton rose 2.1% after the oilfield services provider posted a 41% increase in quarterly adjusted profit. Toymaker Hasbro Inc gained 0.7% after reporting quarterly profit ahead of expectations.</p><p><a href=\"https://laohu8.com/S/TFC\">Truist Financial Corp</a> also beat market estimates for quarterly profit, sending the bank&#39;s shares up 2.6%.</p><p>&#34;Earnings have come in better than lowered expectations,&#34; said Paul Kim, CEO of Simplify Asset Management in New York.</p><p>&#34;So we&#39;re not seeing the bite of tighter monetary policy and inflation impacting revenue as much as feared.&#34;</p><p>Johnson &amp; Johnson shares lost 1.5%, reversing earlier gains. The healthcare giant reported profit and sales that exceeded expectations but cut its earnings outlook for the year due to a soaring U.S. currency.</p><p>A strong dollar also weighed on shares of IT hardware and services company IBM Corp, which beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion.</p><p>The U.S. dollar marked its third straight day of declines as markets reduced the odds of a full percentage-point Federal Reserve rate hike this month.</p><p>Spiraling inflation initially led markets to price in a 100-basis-point hike in interest rates at the upcoming Fed meeting later this month, until some policymakers signaled a 75-basis-point increase.</p><p>The Dow Jones Industrial Average rose 754.44 points, or 2.43%, to 31,827.05, the S&amp;P 500    gained 105.84 points, or 2.76%, to 3,936.69 and the Nasdaq Composite added 353.10 points, or 3.11%, to 11,713.15.</p><p>&#34;The macro picture hasn&#39;t changed,&#34; said Kim. &#34;We still have falling earnings, high inflation pressures and a tightening Fed. So longer term, I don&#39;t think this type of rally has staying power.&#34;</p><p>In this earnings season, analysts expect aggregate year-on-year S&amp;P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.</p><p>Volume on U.S. exchanges was 10.95 billion shares, compared with the 11.76 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 4.88-to-1 ratio and on the Nasdaq, a 3.40-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 30 new lows; the Nasdaq Composite recorded 31 new highs and 56 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Closes Sharply Higher on Strong Corporate Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Closes Sharply Higher on Strong Corporate Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-20 07:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.</p><p>The S&amp;P 500    gained 2.8%, the highest close since June 9. The tech-heavy Nasdaq Composite added 3.1%, marking the biggest one-day percentage gain since June 24.</p><p>Shares of Halliburton rose 2.1% after the oilfield services provider posted a 41% increase in quarterly adjusted profit. Toymaker Hasbro Inc gained 0.7% after reporting quarterly profit ahead of expectations.</p><p><a href=\"https://laohu8.com/S/TFC\">Truist Financial Corp</a> also beat market estimates for quarterly profit, sending the bank&#39;s shares up 2.6%.</p><p>&#34;Earnings have come in better than lowered expectations,&#34; said Paul Kim, CEO of Simplify Asset Management in New York.</p><p>&#34;So we&#39;re not seeing the bite of tighter monetary policy and inflation impacting revenue as much as feared.&#34;</p><p>Johnson &amp; Johnson shares lost 1.5%, reversing earlier gains. The healthcare giant reported profit and sales that exceeded expectations but cut its earnings outlook for the year due to a soaring U.S. currency.</p><p>A strong dollar also weighed on shares of IT hardware and services company IBM Corp, which beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion.</p><p>The U.S. dollar marked its third straight day of declines as markets reduced the odds of a full percentage-point Federal Reserve rate hike this month.</p><p>Spiraling inflation initially led markets to price in a 100-basis-point hike in interest rates at the upcoming Fed meeting later this month, until some policymakers signaled a 75-basis-point increase.</p><p>The Dow Jones Industrial Average rose 754.44 points, or 2.43%, to 31,827.05, the S&amp;P 500    gained 105.84 points, or 2.76%, to 3,936.69 and the Nasdaq Composite added 353.10 points, or 3.11%, to 11,713.15.</p><p>&#34;The macro picture hasn&#39;t changed,&#34; said Kim. &#34;We still have falling earnings, high inflation pressures and a tightening Fed. So longer term, I don&#39;t think this type of rally has staying power.&#34;</p><p>In this earnings season, analysts expect aggregate year-on-year S&amp;P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.</p><p>Volume on U.S. exchanges was 10.95 billion shares, compared with the 11.76 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 4.88-to-1 ratio and on the Nasdaq, a 3.40-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 30 new lows; the Nasdaq Composite recorded 31 new highs and 56 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2252275158","content_text":"U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline.The S&P 500    gained 2.8%, the highest close since June 9. The tech-heavy Nasdaq Composite added 3.1%, marking the biggest one-day percentage gain since June 24.Shares of Halliburton rose 2.1% after the oilfield services provider posted a 41% increase in quarterly adjusted profit. Toymaker Hasbro Inc gained 0.7% after reporting quarterly profit ahead of expectations.Truist Financial Corp also beat market estimates for quarterly profit, sending the bank's shares up 2.6%.\"Earnings have come in better than lowered expectations,\" said Paul Kim, CEO of Simplify Asset Management in New York.\"So we're not seeing the bite of tighter monetary policy and inflation impacting revenue as much as feared.\"Johnson & Johnson shares lost 1.5%, reversing earlier gains. The healthcare giant reported profit and sales that exceeded expectations but cut its earnings outlook for the year due to a soaring U.S. currency.A strong dollar also weighed on shares of IT hardware and services company IBM Corp, which beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion.The U.S. dollar marked its third straight day of declines as markets reduced the odds of a full percentage-point Federal Reserve rate hike this month.Spiraling inflation initially led markets to price in a 100-basis-point hike in interest rates at the upcoming Fed meeting later this month, until some policymakers signaled a 75-basis-point increase.The Dow Jones Industrial Average rose 754.44 points, or 2.43%, to 31,827.05, the S&P 500    gained 105.84 points, or 2.76%, to 3,936.69 and the Nasdaq Composite added 353.10 points, or 3.11%, to 11,713.15.\"The macro picture hasn't changed,\" said Kim. \"We still have falling earnings, high inflation pressures and a tightening Fed. So longer term, I don't think this type of rally has staying power.\"In this earnings season, analysts expect aggregate year-on-year S&P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.Volume on U.S. exchanges was 10.95 billion shares, compared with the 11.76 billion average for the full session over the last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a 4.88-to-1 ratio and on the Nasdaq, a 3.40-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and 30 new lows; the Nasdaq Composite recorded 31 new highs and 56 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}