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2021-08-06

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为什么白宫不邀请马斯克？

2021-08-02

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2021-07-28

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Shopify第二季度营收11.19亿美元，净利润8.79亿美元

2021-07-24

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遭行政处罚！腾讯被责令解除网络音乐独家版权

2021-07-22

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西南航空二季度营收40.1亿美元，EPS同比扭亏

2021-07-21

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2021-07-20

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2021-07-20

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美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧

2021-07-20

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美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧

2021-07-18

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OPEC+同意增产石油，结束当前的僵持局面

2021-07-18

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全球贫富格局：躺赢、内卷与躺平

2021-07-17

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2021-07-16

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什么信号？为了对冲下行风险，美股空头头寸创三年新高

2021-07-14

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Compass Minerals shares rises 17% in early trading

2021-07-12

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Goldman says bet on these stocks with expanding profitability into earnings season

2021-07-12

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Goldman says bet on these stocks with expanding profitability into earnings season

2021-07-10

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Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.

2021-07-10

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Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.

2021-07-10

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Long-Term Prospects for Both Space Tourism and SPCE Stock

2021-05-20

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10:00","market":"us","language":"zh","title":"为什么白宫不邀请马斯克？","url":"https://stock-news.laohu8.com/highlight/detail?id=2157576024","media":"阿聪随笔","summary":"马斯克很生气，发推抗议。","content":"<blockquote>\n 独缺<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>，拜登邀通用、福特等巨头共商电动车计划，马斯克：有点诡异《乔布斯传》作者将为马斯克写传记 马斯克：也许有一天我会写自传拜登给新能源车搞了个“大新闻”，拉来一堆车企，却没请特斯拉，马斯克吐槽：“真奇怪”新能源车落后中国和欧洲，拜登政府制定激进政策追赶新能源又有大利好，拜登放话：新车一半将是新能源车！\n</blockquote>\n<p>来源：&nbsp;阿聪随笔</p>\n<p>拜登想要扶持传统车企，为了支持摇摆州经济发展。此外，马斯克投资数字货币也可能是影响他的最后一根稻草。</p>\n<p>美国开会制定新能源车发展策略，给予产业扶持，邀请产业界代表，结果邀请的是几个传统车企的高管，却不邀请特斯拉的马斯克。马斯克很生气，发推抗议。</p>\n<p>从特斯拉北美区销量而言，美国本土电动汽车除了雪佛兰可以卖特斯拉的零头，其他人在榜单上根本看不到。在美国开电动车会议请制造业老板却不叫特斯拉，就好比搞乒乓球全明星赛不邀请中国球员。这也难怪马斯克很委屈。</p>\n<p>后来白宫的解释是，因为马斯克反对工会，老拜登支持工会。我估计这个解释也是憋了好久想的办法，确实有点说不过去了。但为啥拜登终究没有邀请特斯拉呢？</p>\n<p>一、要支持摇摆州经济发展</p>\n<p>搞新能源车是安抚环保基本盘，也是开展国际合作的罕有共识领域。但搞新能源车很可能刺激到北方摇摆州，特别是密歇根的红脖子。密歇根惊魂夜，DEM是无法忘怀的，而宾州和威斯康辛也有大量的产业工人。这些人最看不惯的就是环保，低碳减排搞起来，饭碗支票全没了。</p>\n<p>2016年，希拉里在能源方面过于激进的表演，使得整个东北部变得红彤彤。这使得老拜登在能源态度方面进两步退一步。老川需要建立一个受教育的良心保守派和没工作的狂躁红脖子不可能的联盟，拜登也需要建立一个爱环保的绿色小清新，和挖煤的红脖工人之间不可能的联盟。</p>\n<p>事实证明，DEM绝不能丧失北方摇摆州，而2022年国会山的决战看点也在这里。这不仅使得拜登在辩论中不惜冒险也要反对三德子的New Green Deal（这一点是整个辩论最传奇的一点，极少有人在一个争议问题上这么明确表态。拜登在豪赌环保派有常识，这几乎令老川哑口无言），更令拜老在推新能源革命时，却积极拉上传统车企的老板。</p>\n<p>总而言之，所谓新能源车替代燃油车，最好是福特、通用的新能源车替代燃油车。这些阿斗实在扶不起的话，也不能让<a href=\"https://laohu8.com/S/603883\">老百姓</a>认为产业升级就是加州去吃东北部的工作。</p>\n<p>二、回击马斯克投资数字货币</p>\n<p>我一直认为马斯克利用巨大的人望投资数字货币，可能严重影响特斯拉的发展。事后看，这不仅是因为数字货币的能源消耗可能无法和特斯拉减碳的形象兼容，更因为数字货币本身威胁铸币权，为监管所不喜。</p>\n<p>尽管白宫怎么都不可能承认不邀请马斯克是因为马斯克买币（一码归一码，毕竟这是个电动车会议），但这可能是影响马斯克的最后一根稻草。</p>\n<p>拥护数字货币的粉丝总会说，币的耗能比全球的纸币和黄金要少多了。问题在于，纸币和黄金体系是各国领导立身的根本。你不能一边想动摇这个根本，一边又指望领导天天出政策支持你。反潮流，叛逆人设是一回事，真的去叛逆就是另一回事。（打击币圈是DEM和GOP的少数共识之一）</p>\n<p>电动车当然是一个依赖于政策的行业，正如低碳这件事情本来就是政策取向。要知道燃油车的发动机排放标准本来就是一种政策，如果没有排放标准的限制，燃油车的成本会明显下降。电动车的老板去反政策，从来都是讨不到好果子的。老马在2016年尚且知道和老川搞关系，2020年真的就飘了。</p>\n<p>三、但其实不邀请也没什么</p>\n<p>首先美国的什么20XX年电动车覆盖率达到XXX，这种事情看客满意就好。要知道这就只是一个行政令罢了，行政令这种东西四年有效期，2030年覆盖率到XXX就好像卖方研究报告预测2060年收入XXX一样。如果2024年拜登输了（这哥们估计找不到别人替代，只能自己上），所有他的政策都是废纸一张。更何况这种连两院都不去的政策。2028年输了，之后也是废纸一张。</p>\n<p>这个政策连边境墙都不如。老拜现在还真不敢拆了以前建立的边境墙，这样不仅坐实了Open边境，更会被批评浪费钱。但在石油资本的支持下，下一任统领可以把所有优惠电车政策全部取消。</p>\n<p>其次联邦这边也没有什么特别具体的政策可以期待。补贴这种东西也不能定向打击某个车企，地方的政策特斯拉都会享受。</p>\n<p>当然这件事情也给新能源车新势力提了个醒——卖车就卖车，别乱搞别的。</p>","source":"sina","collect":0,"html":"<!DOCTYPE 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}\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\">\n为什么白宫不邀请马斯克？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 10:00 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/blockchain/roll/2021-08-06/doc-ikqcfncc1242090.shtml><strong>阿聪随笔</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>独缺特斯拉，拜登邀通用、福特等巨头共商电动车计划，马斯克：有点诡异《乔布斯传》作者将为马斯克写传记 马斯克：也许有一天我会写自传拜登给新能源车搞了个“大新闻”，拉来一堆车企，却没请特斯拉，马斯克吐槽：“真奇怪”新能源车落后中国和欧洲，拜登政府制定激进政策追赶新能源又有大利好，拜登放话：新车一半将是新能源车！\n\n来源： 阿聪随笔\n拜登想要扶持传统车企，为了支持摇摆州经济发展。此外，马斯克投资数字货币...</p>\n\n<a href=\"https://finance.sina.com.cn/blockchain/roll/2021-08-06/doc-ikqcfncc1242090.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fb3952e78c4c7330e4960d16950edf07","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.sina.com.cn/blockchain/roll/2021-08-06/doc-ikqcfncc1242090.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2157576024","content_text":"独缺特斯拉，拜登邀通用、福特等巨头共商电动车计划，马斯克：有点诡异《乔布斯传》作者将为马斯克写传记 马斯克：也许有一天我会写自传拜登给新能源车搞了个“大新闻”，拉来一堆车企，却没请特斯拉，马斯克吐槽：“真奇怪”新能源车落后中国和欧洲，拜登政府制定激进政策追赶新能源又有大利好，拜登放话：新车一半将是新能源车！\n\n来源： 阿聪随笔\n拜登想要扶持传统车企，为了支持摇摆州经济发展。此外，马斯克投资数字货币也可能是影响他的最后一根稻草。\n美国开会制定新能源车发展策略，给予产业扶持，邀请产业界代表，结果邀请的是几个传统车企的高管，却不邀请特斯拉的马斯克。马斯克很生气，发推抗议。\n从特斯拉北美区销量而言，美国本土电动汽车除了雪佛兰可以卖特斯拉的零头，其他人在榜单上根本看不到。在美国开电动车会议请制造业老板却不叫特斯拉，就好比搞乒乓球全明星赛不邀请中国球员。这也难怪马斯克很委屈。\n后来白宫的解释是，因为马斯克反对工会，老拜登支持工会。我估计这个解释也是憋了好久想的办法，确实有点说不过去了。但为啥拜登终究没有邀请特斯拉呢？\n一、要支持摇摆州经济发展\n搞新能源车是安抚环保基本盘，也是开展国际合作的罕有共识领域。但搞新能源车很可能刺激到北方摇摆州，特别是密歇根的红脖子。密歇根惊魂夜，DEM是无法忘怀的，而宾州和威斯康辛也有大量的产业工人。这些人最看不惯的就是环保，低碳减排搞起来，饭碗支票全没了。\n2016年，希拉里在能源方面过于激进的表演，使得整个东北部变得红彤彤。这使得老拜登在能源态度方面进两步退一步。老川需要建立一个受教育的良心保守派和没工作的狂躁红脖子不可能的联盟，拜登也需要建立一个爱环保的绿色小清新，和挖煤的红脖工人之间不可能的联盟。\n事实证明，DEM绝不能丧失北方摇摆州，而2022年国会山的决战看点也在这里。这不仅使得拜登在辩论中不惜冒险也要反对三德子的New Green Deal（这一点是整个辩论最传奇的一点，极少有人在一个争议问题上这么明确表态。拜登在豪赌环保派有常识，这几乎令老川哑口无言），更令拜老在推新能源革命时，却积极拉上传统车企的老板。\n总而言之，所谓新能源车替代燃油车，最好是福特、通用的新能源车替代燃油车。这些阿斗实在扶不起的话，也不能让老百姓认为产业升级就是加州去吃东北部的工作。\n二、回击马斯克投资数字货币\n我一直认为马斯克利用巨大的人望投资数字货币，可能严重影响特斯拉的发展。事后看，这不仅是因为数字货币的能源消耗可能无法和特斯拉减碳的形象兼容，更因为数字货币本身威胁铸币权，为监管所不喜。\n尽管白宫怎么都不可能承认不邀请马斯克是因为马斯克买币（一码归一码，毕竟这是个电动车会议），但这可能是影响马斯克的最后一根稻草。\n拥护数字货币的粉丝总会说，币的耗能比全球的纸币和黄金要少多了。问题在于，纸币和黄金体系是各国领导立身的根本。你不能一边想动摇这个根本，一边又指望领导天天出政策支持你。反潮流，叛逆人设是一回事，真的去叛逆就是另一回事。（打击币圈是DEM和GOP的少数共识之一）\n电动车当然是一个依赖于政策的行业，正如低碳这件事情本来就是政策取向。要知道燃油车的发动机排放标准本来就是一种政策，如果没有排放标准的限制，燃油车的成本会明显下降。电动车的老板去反政策，从来都是讨不到好果子的。老马在2016年尚且知道和老川搞关系，2020年真的就飘了。\n三、但其实不邀请也没什么\n首先美国的什么20XX年电动车覆盖率达到XXX，这种事情看客满意就好。要知道这就只是一个行政令罢了，行政令这种东西四年有效期，2030年覆盖率到XXX就好像卖方研究报告预测2060年收入XXX一样。如果2024年拜登输了（这哥们估计找不到别人替代，只能自己上），所有他的政策都是废纸一张。更何况这种连两院都不去的政策。2028年输了，之后也是废纸一张。\n这个政策连边境墙都不如。老拜现在还真不敢拆了以前建立的边境墙，这样不仅坐实了Open边境，更会被批评浪费钱。但在石油资本的支持下，下一任统领可以把所有优惠电车政策全部取消。\n其次联邦这边也没有什么特别具体的政策可以期待。补贴这种东西也不能定向打击某个车企，地方的政策特斯拉都会享受。\n当然这件事情也给新能源车新势力提了个醒——卖车就卖车，别乱搞别的。","news_type":1},"isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805496085,"gmtCreate":1627896639647,"gmtModify":1703497406381,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805496085","repostId":"1187558503","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801039402,"gmtCreate":1627471320006,"gmtModify":1703490578655,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/801039402","repostId":"1120839532","repostType":4,"repost":{"id":"1120839532","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627470418,"share":"https://ttm.financial/m/news/1120839532?lang=&edition=fundamental","pubTime":"2021-07-28 19:06","market":"us","language":"zh","title":"Shopify第二季度营收11.19亿美元，净利润8.79亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=1120839532","media":"老虎资讯综合","summary":"7月28日盘前，Shopify发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06","content":"<p>7月28日盘前，<a href=\"https://laohu8.com/S/SHOP\">Shopify</a>发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06亿美元，去年同期净利润0.36亿美元；第二季度每股盈利6.9美元。</p>\n<p>第二季度的商品交易总额为422亿美元，比2020年第二季度增加了121亿美元，增幅为40%。</p>\n<p>预计2021年毛利润将快速增长。</p>\n<p><img src=\"https://static.tigerbbs.com/ef0a09a03a21c9126d19710016b32d39\" tg-width=\"828\" tg-height=\"935\" referrerpolicy=\"no-referrer\"></p>\n<p>财报发布后，Shopify盘前跌0.59%，报1546美元。</p>\n<p><img src=\"https://static.tigerbbs.com/a16e1d00d455df9e3298009f04ef5041\" tg-width=\"898\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shopify第二季度营收11.19亿美元，净利润8.79亿美元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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第二季度营收11.19亿美元，净利润8.79亿美元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-28 19:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月28日盘前，<a href=\"https://laohu8.com/S/SHOP\">Shopify</a>发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06亿美元，去年同期净利润0.36亿美元；第二季度每股盈利6.9美元。</p>\n<p>第二季度的商品交易总额为422亿美元，比2020年第二季度增加了121亿美元，增幅为40%。</p>\n<p>预计2021年毛利润将快速增长。</p>\n<p><img src=\"https://static.tigerbbs.com/ef0a09a03a21c9126d19710016b32d39\" tg-width=\"828\" tg-height=\"935\" referrerpolicy=\"no-referrer\"></p>\n<p>财报发布后，Shopify盘前跌0.59%，报1546美元。</p>\n<p><img src=\"https://static.tigerbbs.com/a16e1d00d455df9e3298009f04ef5041\" tg-width=\"898\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"SHOP":"Shopify Inc"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120839532","content_text":"7月28日盘前，Shopify发布2021年第二季度业绩。财报显示，第二季度营收11.19亿美元，市场预期10.40亿美元，去年同期7.14亿美元；第二季度净利润8.79亿美元，市场预期净亏损0.06亿美元，去年同期净利润0.36亿美元；第二季度每股盈利6.9美元。\n第二季度的商品交易总额为422亿美元，比2020年第二季度增加了121亿美元，增幅为40%。\n预计2021年毛利润将快速增长。\n\n财报发布后，Shopify盘前跌0.59%，报1546美元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174686621,"gmtCreate":1627095192063,"gmtModify":1703484169289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174686621","repostId":"1170350340","repostType":4,"repost":{"id":"1170350340","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092098,"share":"https://ttm.financial/m/news/1170350340?lang=&edition=fundamental","pubTime":"2021-07-24 10:01","market":"us","language":"zh","title":"遭行政处罚！腾讯被责令解除网络音乐独家版权","url":"https://stock-news.laohu8.com/highlight/detail?id=1170350340","media":"老虎资讯综合","summary":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。","content":"<p>腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。</p>\n<blockquote>\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n</blockquote>\n<p>2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。</p>\n<p>市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。</p>\n<p>调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。</p>\n<p>根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。</p>\n<p>本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。</p>\n<p>以下为处罚书全文:</p>\n<p>国家市场监督管理总局</p>\n<p>行政处罚决定书</p>\n<p>国市监处〔2021〕67号</p>\n<p>当事人：腾讯控股有限公司</p>\n<p>住&nbsp;所：开曼群岛哈金斯大道克里奇广场</p>\n<p>根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。</p>\n<p>经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。</p>\n<ul>\n <li>基本情况</li>\n</ul>\n<p><b>（一）交易方。</b></p>\n<p><b>收购方：腾讯。</b>1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。</p>\n<p><b>被收购方：中国音乐集团。</b>2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。</p>\n<p><b>（二）交易概况。</b></p>\n<p>2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。</p>\n<p>二、违法事实及理由</p>\n<p><b>（一）本案构成违法实施的经营者集中。</b></p>\n<p>《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。</p>\n<p>腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。</p>\n<p>《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。</p>\n<p>以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。</p>\n<p><b>（二）本案具有或者可能具有排除、限制竞争的效果。</b></p>\n<p>根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。<b>网络音乐播放平台市场</b>是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。</p>\n<p>经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：</p>\n<ol>\n <li><b>集中后实体在相关市场具有较高市场份额。</b></li>\n</ol>\n<p>2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。</p>\n<p>从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。</p>\n<ol>\n <li><b>集中减少相关市场主要竞争对手。</b></li>\n</ol>\n<p>调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。</p>\n<ol>\n <li><b>集中可能进一步提高相关市场进入壁垒。</b></li>\n</ol>\n<p><b>一是可能提高版权资源壁垒。</b>在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。</p>\n<p><b>二是可能增加用户转换成本。</b>集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。</p>\n<p><b>三是集中后市场进入活跃度不高。</b>数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。</p>\n<p>综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。</p>\n<p>调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。</p>\n<p>以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。</p>\n<p>三、行政处罚依据和决定</p>\n<p>《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。</p>\n<p>根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：</p>\n<p><b>（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：</b></p>\n<p>1.&nbsp;不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。</p>\n<p>2.&nbsp;没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。</p>\n<p>3.&nbsp;依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。</p>\n<p><b>（二）处以50万元罚款。</b></p>\n<p><b>（三）依法申报经营者集中。</b></p>\n<p>1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。</p>\n<p><b>（四）依法合规经营，建立健全公平参与市场竞争的长效机制。</b></p>\n<p>1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。</p>\n<p>2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。</p>\n<p>3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。</p>\n<p>4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。</p>\n<p>5.积极维护公平竞争，推动行业创新发展。</p>\n<p>以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。</p>\n<p>《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。</p>\n<p>当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。</p>\n<p>当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。</p>\n<p>市场监管总局</p>\n<p>2021年7月24日<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>遭行政处罚！腾讯被责令解除网络音乐独家版权</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{ 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}\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\">\n遭行政处罚！腾讯被责令解除网络音乐独家版权\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-24 10:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。</p>\n<blockquote>\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n</blockquote>\n<p>2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。</p>\n<p>市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。</p>\n<p>调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。</p>\n<p>根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。</p>\n<p>本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。</p>\n<p>以下为处罚书全文:</p>\n<p>国家市场监督管理总局</p>\n<p>行政处罚决定书</p>\n<p>国市监处〔2021〕67号</p>\n<p>当事人：腾讯控股有限公司</p>\n<p>住&nbsp;所：开曼群岛哈金斯大道克里奇广场</p>\n<p>根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。</p>\n<p>经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。</p>\n<ul>\n <li>基本情况</li>\n</ul>\n<p><b>（一）交易方。</b></p>\n<p><b>收购方：腾讯。</b>1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。</p>\n<p><b>被收购方：中国音乐集团。</b>2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。</p>\n<p><b>（二）交易概况。</b></p>\n<p>2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。</p>\n<p>二、违法事实及理由</p>\n<p><b>（一）本案构成违法实施的经营者集中。</b></p>\n<p>《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。</p>\n<p>腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。</p>\n<p>《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。</p>\n<p>以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。</p>\n<p><b>（二）本案具有或者可能具有排除、限制竞争的效果。</b></p>\n<p>根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。<b>网络音乐播放平台市场</b>是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。</p>\n<p>经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：</p>\n<ol>\n <li><b>集中后实体在相关市场具有较高市场份额。</b></li>\n</ol>\n<p>2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。</p>\n<p>从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。</p>\n<ol>\n <li><b>集中减少相关市场主要竞争对手。</b></li>\n</ol>\n<p>调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。</p>\n<ol>\n <li><b>集中可能进一步提高相关市场进入壁垒。</b></li>\n</ol>\n<p><b>一是可能提高版权资源壁垒。</b>在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。</p>\n<p><b>二是可能增加用户转换成本。</b>集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。</p>\n<p><b>三是集中后市场进入活跃度不高。</b>数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。</p>\n<p>综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。</p>\n<p>调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。</p>\n<p>以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。</p>\n<p>三、行政处罚依据和决定</p>\n<p>《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。</p>\n<p>根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：</p>\n<p><b>（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：</b></p>\n<p>1.&nbsp;不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。</p>\n<p>2.&nbsp;没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。</p>\n<p>3.&nbsp;依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。</p>\n<p><b>（二）处以50万元罚款。</b></p>\n<p><b>（三）依法申报经营者集中。</b></p>\n<p>1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。</p>\n<p><b>（四）依法合规经营，建立健全公平参与市场竞争的长效机制。</b></p>\n<p>1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。</p>\n<p>2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。</p>\n<p>3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。</p>\n<p>4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。</p>\n<p>5.积极维护公平竞争，推动行业创新发展。</p>\n<p>以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。</p>\n<p>《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。</p>\n<p>当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。</p>\n<p>当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。</p>\n<p>市场监管总局</p>\n<p>2021年7月24日<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","00700":"腾讯控股","TCEHY":"腾讯控股ADR"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170350340","content_text":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。\n\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n\n2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。\n市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。\n调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。\n根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。\n本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。\n以下为处罚书全文:\n国家市场监督管理总局\n行政处罚决定书\n国市监处〔2021〕67号\n当事人：腾讯控股有限公司\n住 所：开曼群岛哈金斯大道克里奇广场\n根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。\n经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。\n\n基本情况\n\n（一）交易方。\n收购方：腾讯。1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。\n被收购方：中国音乐集团。2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。\n（二）交易概况。\n2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。\n二、违法事实及理由\n（一）本案构成违法实施的经营者集中。\n《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。\n腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。\n《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。\n以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。\n（二）本案具有或者可能具有排除、限制竞争的效果。\n根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。网络音乐播放平台市场是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。\n经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：\n\n集中后实体在相关市场具有较高市场份额。\n\n2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。\n从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。\n\n集中减少相关市场主要竞争对手。\n\n调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。\n\n集中可能进一步提高相关市场进入壁垒。\n\n一是可能提高版权资源壁垒。在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。\n二是可能增加用户转换成本。集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。\n三是集中后市场进入活跃度不高。数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。\n综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。\n调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。\n以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。\n三、行政处罚依据和决定\n《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。\n根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：\n（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：\n1. 不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。\n2. 没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。\n3. 依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。\n（二）处以50万元罚款。\n（三）依法申报经营者集中。\n1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。\n2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。\n3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。\n（四）依法合规经营，建立健全公平参与市场竞争的长效机制。\n1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。\n2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。\n3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。\n4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。\n5.积极维护公平竞争，推动行业创新发展。\n以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。\n《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。\n当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。\n当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。\n市场监管总局\n2021年7月24日","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172819676,"gmtCreate":1626950512695,"gmtModify":1703481172583,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/172819676","repostId":"1128346677","repostType":4,"repost":{"id":"1128346677","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626950305,"share":"https://ttm.financial/m/news/1128346677?lang=&edition=fundamental","pubTime":"2021-07-22 18:38","market":"us","language":"zh","title":"西南航空二季度营收40.1亿美元，EPS同比扭亏","url":"https://stock-news.laohu8.com/highlight/detail?id=1128346677","media":"老虎资讯综合","summary":"西南航空2021年Q2 营收（亿美元）：40.1，预期：38.79，前值：10.08。\nQ2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。\nQ2乘客搭乘收入为35.7亿美元","content":"<p><a href=\"https://laohu8.com/S/LUV\">西南航空</a>2021年Q2 营收（亿美元）：<b>40.1，</b>预期：38.79，前值：10.08。</p>\n<p>Q2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。</p>\n<p>Q2乘客搭乘收入为35.7亿美元，预期35.6亿美元。</p>\n<p>Q2总运营费用增长59.9%，至34亿美元。Q2载客率为82.9%，去年同期为31.4%。</p>\n<p>截至发稿，西南航空盘前涨0.28%。</p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>西南航空二季度营收40.1亿美元，EPS同比扭亏</title>\n<style 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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\">\n西南航空二季度营收40.1亿美元，EPS同比扭亏\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-22 18:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/LUV\">西南航空</a>2021年Q2 营收（亿美元）：<b>40.1，</b>预期：38.79，前值：10.08。</p>\n<p>Q2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。</p>\n<p>Q2乘客搭乘收入为35.7亿美元，预期35.6亿美元。</p>\n<p>Q2总运营费用增长59.9%，至34亿美元。Q2载客率为82.9%，去年同期为31.4%。</p>\n<p>截至发稿，西南航空盘前涨0.28%。</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0543353f6a7c7d15818638f8d617e549","relate_stocks":{"LUV":"西南航空"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128346677","content_text":"西南航空2021年Q2 营收（亿美元）：40.1，预期：38.79，前值：10.08。\nQ2每股收益0.57美元，市场预期亏损0.07美元，去年同期亏损1.63美元。\nQ2乘客搭乘收入为35.7亿美元，预期35.6亿美元。\nQ2总运营费用增长59.9%，至34亿美元。Q2载客率为82.9%，去年同期为31.4%。\n截至发稿，西南航空盘前涨0.28%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176322992,"gmtCreate":1626864929216,"gmtModify":1703479503582,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176322992","repostId":"1107424947","repostType":4,"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178921110,"gmtCreate":1626783546830,"gmtModify":1703765076652,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178921110","repostId":"1168215370","repostType":4,"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178967466,"gmtCreate":1626783301755,"gmtModify":1703765071561,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178967466","repostId":"2152669205","repostType":4,"repost":{"id":"2152669205","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1626782823,"share":"https://ttm.financial/m/news/2152669205?lang=&edition=fundamental","pubTime":"2021-07-20 20:07","market":"us","language":"zh","title":"美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧","url":"https://stock-news.laohu8.com/highlight/detail?id=2152669205","media":"英为财情Investing","summary":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应","content":"<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。</p>\n<p>但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。</p>\n<p>上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。</p>\n<p>通胀或许不是暂时的</p>\n<p>随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。</p>\n<p>虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。</p>\n<p>俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。</p>\n<p>上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。</p>\n<p>在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。</p>\n<p>但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。</p>\n<p>通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。</p>\n<p>这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。</p>\n<p>里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。</p>\n<p>圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”</p>\n<p>其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。</p>\n<p>英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。</p>\n<p>这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。</p>\n<p>两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧</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{ 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}\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\">\n美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time\">2021-07-20 20:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。</p>\n<p>但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。</p>\n<p>上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。</p>\n<p>通胀或许不是暂时的</p>\n<p>随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。</p>\n<p>虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。</p>\n<p>俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。</p>\n<p>上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。</p>\n<p>在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。</p>\n<p>但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。</p>\n<p>通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。</p>\n<p>这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。</p>\n<p>里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。</p>\n<p>圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”</p>\n<p>其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。</p>\n<p>英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。</p>\n<p>这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。</p>\n<p>两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","QLD":"纳指两倍做多ETF","SDOW":"道指三倍做空ETF-ProShares",".DJI":"道琼斯","SDS":"两倍做空标普500ETF",".IXIC":"NASDAQ Composite","OEX":"标普100",".SPX":"S&P 500 Index","QID":"纳指两倍做空ETF","DOG":"道指反向ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","DXD":"道指两倍做空ETF","SH":"标普500反向ETF","QQQ":"纳指100ETF","DJX":"1/100道琼斯","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","TQQQ":"纳指三倍做多ETF","DDM":"道指两倍做多ETF","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152669205","content_text":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。\n上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。\n通胀或许不是暂时的\n随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。\n虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。\n俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。\n上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。\n在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。\n但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。\n通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。\n这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。\n里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。\n圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”\n其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。\n英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。\n这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。\n两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。","news_type":1},"isVote":1,"tweetType":1,"viewCount":502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178964143,"gmtCreate":1626783099482,"gmtModify":1703765069460,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178964143","repostId":"2152669205","repostType":4,"repost":{"id":"2152669205","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1626782823,"share":"https://ttm.financial/m/news/2152669205?lang=&edition=fundamental","pubTime":"2021-07-20 20:07","market":"us","language":"zh","title":"美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧","url":"https://stock-news.laohu8.com/highlight/detail?id=2152669205","media":"英为财情Investing","summary":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应","content":"<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。</p>\n<p>但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。</p>\n<p>上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。</p>\n<p>通胀或许不是暂时的</p>\n<p>随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。</p>\n<p>虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。</p>\n<p>俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。</p>\n<p>上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。</p>\n<p>在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。</p>\n<p>但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。</p>\n<p>通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。</p>\n<p>这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。</p>\n<p>里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。</p>\n<p>圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”</p>\n<p>其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。</p>\n<p>英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。</p>\n<p>这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。</p>\n<p>两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧</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{ 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}\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\">\n美联储观察：拜登或再次任命鲍威尔，通胀担忧加剧\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time\">2021-07-20 20:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9\" tg-width=\"550\" tg-height=\"358\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。</p>\n<p>但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。</p>\n<p>上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。</p>\n<p>通胀或许不是暂时的</p>\n<p>随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。</p>\n<p>虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。</p>\n<p>俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。</p>\n<p>上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。</p>\n<p>在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。</p>\n<p>但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。</p>\n<p>通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。</p>\n<p>这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。</p>\n<p>里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。</p>\n<p>圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”</p>\n<p>其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。</p>\n<p>英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。</p>\n<p>这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。</p>\n<p>两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f3c57cc6e9c1b83f50cc789f518b9ca9","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","QLD":"纳指两倍做多ETF","SDOW":"道指三倍做空ETF-ProShares",".DJI":"道琼斯","SDS":"两倍做空标普500ETF",".IXIC":"NASDAQ Composite","OEX":"标普100",".SPX":"S&P 500 Index","QID":"纳指两倍做空ETF","DOG":"道指反向ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","DXD":"道指两倍做空ETF","SH":"标普500反向ETF","QQQ":"纳指100ETF","DJX":"1/100道琼斯","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","TQQQ":"纳指三倍做多ETF","DDM":"道指两倍做多ETF","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152669205","content_text":"美联储对高通胀是暂时性的解读越来越令人难以信服。美联储主席鲍威尔上周在国会作证时承认，通胀水平高于美联储的预期，如果通胀开始失控，他们将毫不犹豫地“调整”货币政策。\n但他重申，由于经济的重新开放，供应和劳动力短缺导致的物价上涨是暂时的。\n上周公布的美国6月份消费者价格指数显示，CPI较上年同期上涨5.4%，为2008年以来的最高水平，也高于5%的市场预期；环比则增长0.9%，高于此前预测的0.5%。数据公布后，两党议员纷纷就通胀问题向鲍威尔提问。\n通胀或许不是暂时的\n随着鲍威尔的政策获得更多关注，有关美联储主席任命的问题也开始浮现。鲍威尔的任期将于明年2月初到期，白宫通常会提前几个月任命新主席，以便参议院确认。\n虽然绝大多数经济学家认为，拜登总统将遵循传统，继续任命鲍威尔为主席，但《美国前景》的编辑Robert Kuttner上周预测，拜登将任命新的人选。Kuttner是第一个报道耶伦将担任财政部长的人。\n俄亥俄州参议员、银行委员会主席、民主党人布朗在上周的听证会上严厉批评了鲍威尔，他认为宽松的监管使得银行变得更加肆无忌惮。颇具影响力的前总统候选人、参议员伊丽莎白·沃伦也提出了同样的批评。\n上周，上一届美联储主席耶伦回避了一位电视记者关于再次任命鲍威尔的提问，但她认为美联储已经做得很好。\n在危机结束、经济强劲反弹后，鲍威尔继续全力购买资产，利率接近于零，这也正是耶伦想要鲍威尔做的。\n但是，美联储的独立性开始受到怀疑，因为鲍威尔尽职地跟随前任主席的政策，而联邦公开市场委员会的成员们也都墨守成规。\n通常，生产者价格指数是消费者价格指数的先行指标。美国6月份PPI环比上涨1.0%，同比上涨7.3%。大多数银行预计价格压力还将持续一段时间。\n这些证据表明，鲍威尔坚称通胀是暂时的说法正变得越来越站不住脚。随着一年前价格低迷的基数效应消退，通胀本应该减弱，而持续数月的供应短缺只是暂时回避了这个问题。\n里士满联储主席对《华尔街日报》表示，美联储现在考虑减少目前每月1，200亿美元的债券购买规模还为时过早。因为在2020年2月大流行爆发前，就业与人口的比率为61.1%，但6月份仍只有58%，该数据需要稳定到59%以上政策制定者才能讨论缩减购债。\n圣路易斯联储主席詹姆斯•布拉德暗示，开始缩减债券购买规模的时机已经临近。他在一次采访中说：“我不需要明天就开始行动，但我认为我们已经做好了准备。”\n其他国家的央行决策者就没有那么犹豫不决了。加拿大央行宣布在4月份每周削减购债10亿加元的基础上扩大至30亿加元（合24亿美元），并在表示每周将进一步削减购债10亿加元（合7.84亿美元）。\n英国央行货币政策委员会外部成员Michael Saunders上周表示，英国央行应采取行动遏制通胀，并暗示他最早将在下月初的会议上投票支持减少债券购买。\n这标志着政策制定者正在转向鹰派，同时MPC的副行长兼成员David Ramsden也表示，在英国6月份CPI同比增长2.5%后，他对通货膨胀感到担忧。\n两位政策制定者表示，他们不同意央行行长Andrew Bailey的看法。Bailey坚持认为，央行保持政策不变是正确的。","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173369912,"gmtCreate":1626617771536,"gmtModify":1703762371236,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"liike","listText":"liike","text":"liike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173369912","repostId":"1160796593","repostType":4,"repost":{"id":"1160796593","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626606185,"share":"https://ttm.financial/m/news/1160796593?lang=&edition=fundamental","pubTime":"2021-07-18 19:03","market":"fut","language":"zh","title":"OPEC+同意增产石油，结束当前的僵持局面","url":"https://stock-news.laohu8.com/highlight/detail?id=1160796593","media":"老虎资讯综合","summary":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和","content":"<p>7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。</p>\n<p>除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OPEC+同意增产石油，结束当前的僵持局面</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; 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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\">\nOPEC+同意增产石油，结束当前的僵持局面\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-18 19:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。</p>\n<p>除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160796593","content_text":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。\nOPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。\n除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。\n欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。\nOPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。\n欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。\n欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173360775,"gmtCreate":1626617748397,"gmtModify":1703762370415,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173360775","repostId":"1172207687","repostType":4,"repost":{"id":"1172207687","kind":"news","pubTimestamp":1626565922,"share":"https://ttm.financial/m/news/1172207687?lang=&edition=fundamental","pubTime":"2021-07-18 07:52","market":"sh","language":"zh","title":"全球贫富格局：躺赢、内卷与躺平","url":"https://stock-news.laohu8.com/highlight/detail?id=1172207687","media":"智本社","summary":"2021年7月10日，二十国集团（G20）财长和央行行长会议闭幕。会议公告宣称，已就更稳定、更公平的国际税收框架达成了历史性协议。会议达成了“双支柱”成果：重新划分跨国企业征税权、设定全球最低企业税率","content":"<p>2021年7月10日，二十国集团（G20）财长和央行行长会议闭幕。会议公告宣称，已就更稳定、更公平的国际税收框架达成了历史性协议。会议达成了“双支柱”成果：重新划分跨国企业征税权、设定全球最低企业税率。</p>\n<p>过去几十年，不少国家为了吸引国际资本，纷纷降低资本税率，给跨国公司与富豪提供了极大的避税便利。资本在全球范围内自由逐利与“合理”避税，劳动则被限制全球流通，在本地实打实地纳税，劳资收入差距持续扩大，全球贫富悬殊逼近历史高位。</p>\n<p>美国新闻机构ProPublica称根据其获取的数千份IRS保密数据，包括贝佐斯、马斯克、巴菲特、彭博、索罗斯等在内的美国25个顶级富豪的实际平均税率只有3.4%，远低于年收入位于中位数水平（7万美元）的美国家庭的税率——14%，低于家庭收入超过62.8万美元的高收入家庭的边际税率——37%，甚至低于全美最低收入家庭（年收入不足2万美元）的边际税率——10%。与富豪们极低税率相比，全美中产家庭的税率普遍在15%-20%。</p>\n<p>贫富差距扩大化，不是美国的特产，而是世界的通病。全球贫富差距为何持续扩大？这一历史性协议能否遏制全球贫富悬殊恶化？</p>\n<p>本文以美国为例探索全球贫富分化的根源及危害。</p>\n<p><b>本文逻辑</b></p>\n<p>一、自由市场，功利主义，自然法则</p>\n<p>二、资本流通，劳动限制，贫富分化</p>\n<p>三、富人躺赢，中产内卷，穷人躺平</p>\n<p><b>01、自由市场，功利主义，自然法则</b></p>\n<p>桥水基金一份报告指出，1980年代，美国收入前40%家庭的收入是后60%家庭收入的4倍，而到2016年，这一差距已经拉大为10倍。如今，美国最富有的1%的人拥有的财富总量，大约等于最贫穷的90%的人拥有的财富总量。这一财富分配状况与1935至1940年的情况类似。</p>\n<p>美国并不是个例，贫富差距扩大化已是全球普遍性问题。世界基尼系数已经达到0.7左右，超过了危险线。一些国家缺乏公开的数据，其贫富差距难以量化，但这一现象是肉眼可见的。</p>\n<p>问题来了，贫富差距为何持续扩大？很多人将贫富差距的原因归咎于自由市场，尤其是最近几十年的经济全球化。从80年代开始，经济全球化一日千里，不少新兴国家加入了这轮全球化浪潮。但是，这几十年，全球贫富差距伴随着全球化而迅速扩大。这到底是自由市场和全球化的问题，还是限制自由市场和全球化的问题？</p>\n<p>首先，必须明确的是，自由市场定然会造成贫富差距。自由市场直面资源不足的难题，激励人多样性的天赋，去竞争并高效利用稀缺的资源。但是，天赋有多样性之美，也有高低之分；竞争有胜负，有胜负就有淘汰与破产。</p>\n<p>可见，享受自由市场带来的天赋多样性以及文明成果的同时，我们也不得不面对来自竞争的压力、淘汰的残酷以及贫富悬殊的现实。反过来，如果忽略资源稀缺，盲目实施均贫富政策，会引发逆向淘汰，陷入共同贫穷的困境。这就是美国经济学家托马斯·索维尔所说的：“始于均富，终于均贫”。他说：“经济学的第一课是稀缺性：我们没有足够的资源来完全满足所有人的愿望。而政治学的第一课，则是无视经济学的第一课。”</p>\n<p>所以，一个国家发展自由市场的前提是，国民应该具备强大的个人意志以及勇敢竞争的品质，摒弃盲目拥抱强人的懦弱心态，消灭渴望借助强人剥夺他人财富的卑劣企图，以及粉碎政治投机者哄骗选民的机会主义。</p>\n<p>当然，这并不是我要讨论的重点。关键问题在于：自由市场会带来多大程度的贫富差距？</p>\n<p>经济学家通常认为，自由市场不会导致过度的贫富差距。他们根据功利主义判断，自由市场带来效率与繁荣，而一定的贫富差距是可忍受的代价。问题是，如何判断自由市场不会导致贫富差距的持续扩大化？</p>\n<p>对于这一个问题，亚当·斯密在《国富论》中的处理是谨慎而模糊的。他的逻辑是，分工可以促进技术熟练度，技术熟练进而促进规模递增。但是，规模递增容易导致市场集中，进而推导出市场垄断、财富集中以及贫富分化。到规模递增这里，斯密就没有讨论下去了。他只是用了一个今天已成为常识的表述：在自由市场的交换体系中，即便获利最少的那个人，他的财富也是在增加的。</p>\n<p>问题是，假如低收入阶层年收入增长率只有2%，而富豪阶层年收入增长率20%，贫富差距持续扩大，这样的自由市场和社会体系还能持续吗？</p>\n<p>后来，阿尔<a href=\"https://laohu8.com/S/FRED\">弗雷德</a>·马歇尔用内部经济和外部经济做出了解释。他认为，内部经济激励企业投资技术，实现规模递增，进而获取垄断利润；外部经济提高了其他人的收益，削弱企业的投资积极性。这就是马歇尔悖论。</p>\n<p>马歇尔的意思是，经济的外部性可以抑制财富集中。内部来看，因为有内部经济，这个社会的财富会向大型企业与富豪集中，但是又因为存在外部经济，比如信息外溢，其它小企业与个人也会受益。</p>\n<p>现在的经济学家大多数使用自由市场的调节机制来解释。当大型企业的市场集中越拉越高，财富向富豪集中，投资边际收益率递减，企业市场竞争力下降，这时就有新的竞争对手崛起。比如，<a href=\"https://laohu8.com/S/IBM\">IBM</a>当年统治了大型计算机，后来<a href=\"https://laohu8.com/S/MSFT\">微软</a>统治了个人计算机，如今<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>和<a href=\"https://laohu8.com/S/FB\">Facebook</a>统治了互联网时代。这就是一个自由竞争、效率增进的动态平衡。</p>\n<p>但是，这到底是动态平衡，还是持续的动态失衡呢？是不是一个垄断者替代另外一个垄断者？告别了系统的控制者，又迎来了大数据的控制者。这些跨国公司提高了技术水平及经济效率，但也可能抑制了技术与效率的最大化。在美国反垄断史上，这些问题存在巨大的争议。</p>\n<p>探讨到这里，似乎已经进入了无解的迷局。这时，我们要出来，重新审视。技术垄断者带来了效率还是损失了效率？自由市场会造成多大程度的贫富悬殊？贫富悬殊多大是可容忍的？经济学家使用功利主义——效率与效用，来判断这些问题，其实误入歧途。</p>\n<p>长久以来，经济学家使用功利主义作为标准，这误导和阻碍了经济学的发展。其实，经济学以及任何学科的标准应该是一般性，具体来说是规律的一般性以及在此基础上的正当性（自然法）。经济学主张自由交换和私有产权，并不是因为经济效率，而是因为其具有正当性——符合人的行为规律的一般性，遵循了自然法。比如，主张言论自由的自然法逻辑是言论是身体的延伸品。身体属于个人，由个人自由支配，因此言论也是自由的。同样，独立的技术发明属于个人产权，也是这个逻辑。反过来说，经济学的主张，正是因为符合正当性，遵循人的行为规律，才具有经济效率。所以，一般性与正当性比功利主义更为根本。</p>\n<p>回到主题。如果按照功利主义和效率标准，自由市场与贫富差距的关系问题是一个无解之题。你说效率，他说公平，和事佬说效率与公平兼顾。你说自由，他说生存，和事佬说生存之上有自由。互联网平台是否最大限度地促进了技术进步？有没有扩大了贫富差距？这无法证实，也难以证伪。我们只需要关注正当性，即互联网平台与其它企业的准入标准、竞争规则是不是平等的？我们不需要关注互联网平台是否扩大了贫富差距，但是，我们可以明确的是，互联网平台占用、控制和滥用用户的私人数据，这是不正当的。这种不正当性会扩大贫富差距，平台攫取用户的消费者剩余，财富向互联网富豪集中。</p>\n<p>所以，按照正当性来考虑，贫富差距的讨论变得清晰而理性。如果是正当性的制度，自由市场的贫富差距不应该成为问题本身，它也不会成为问题。正如仇富的本质是仇不公。反过来，如果是不正当的制度，自由市场会带来极大的贫富差距，财富持续向富人集中，自由市场断裂。经济学家认为，富人会降低“猎取”，因为穷人没有购买力、市场萧条对他们不利。这种认知的错误在于，认为自由交换是竞争资源的唯一方式。其实，除了自由交换外，人还通过掠夺、控制等手段竞争资源。在人类历史上，后者使用的时间要远远多于前者。正如道格拉斯·诺斯所说，在不正当的制度下，既得利益者往往会建立更加不公平与低效的制度。正如当今的世界，富人减少投资实体，想办法避税，反复投资金融资产，然后让货币当局反复为其金融资产兜底。</p>\n<p>好的，问题的关键指向了制度的正当性。</p>\n<p><b>02、资本流通，劳动限制，贫富分化</b></p>\n<p>正当性，是一个自然法的概念。从经济学的角度，自由流通具有正当性，它符合天赋人权之个体存在。下面按照古典主义分析方法，哪些要素、哪些群体、哪些人的自由流通被制度性限制，哪些则享受了自由。</p>\n<p>正当性决定了功利性——经济效率。经济要素在国际市场中流通越自由，资源配置效率则越高，投资者的收益率就越高。反过来说，如果哪一类要素被限制全球化流通，那么它的配置效率则更低，依赖此要素生存的人的收益率就越低。</p>\n<p>我们知道，经济全球化是一个去国家化的过程，是国家制度的限制墙不断被推翻的过程。最早，关税的墙被推翻，商品最早实现全球化。二战前的全球化，主要是商品的全球化。二战后，全球化走向了经济要素的全球化。经济要素的全球化，先是信息与资本的全球化，然后是技术与人才的全球化，最后才是普通劳动力的全球化。</p>\n<p>不过，最近50年资本的全球化迅速崛起，尤其是1971年布雷顿森林体系解体后，欧美世界逐渐实施浮动汇率，资本跨国流动扶摇直上。但是，普通劳动力的全球化却停滞不前。资本的全球化自由流通，与劳动力的国家化限制，导致资本与劳动的边际收益率差距持续扩大。主要靠资本获利的人，与主要靠劳动力生存的人，双方的收入差距越来越大，成为最近几十年全球贫富悬殊扩大化的主因。</p>\n<p>英国经济学家斯拉法是凯恩斯的门徒，也被称为李嘉图学说的继承人。他在《用商品生产商品》一书中，使用古典主义分析方法做了这样的预测“经济增长的结果，将是工资在国民收入中所占的比重下降，工资与利润之比朝着不利于工资的方向变化。”</p>\n<p>斯拉法“用商品生产商品”的经济逻辑是，资本拥有天然的流通属性，资方可以将资本、半成品、原材料、设备、商品在全球自由流通、自由配置，从而获得更高的边际收益率。但是，劳动不具备资本这种流动性。经济这样发展下去的结果是，劳资双方的收益率持续扩大。托马斯·皮凯蒂在《21世纪资本论》中也采用劳动与资本的古典主义分析方法，但是其结论及对策是缺乏一般性逻辑支撑的。</p>\n<p>比如，美国<a href=\"https://laohu8.com/S/GM\">通用汽车</a>，作为资方的代表，它的资本可以在全球市场自由流通，可以将工厂搬迁到日本、印度、越南等国家，寻求劳动力低廉的投资洼地。资本走后，失业的底特律汽车工人无法到亚洲国家来重新就业，降低了他们的家庭收入。反过来，美国整体工资水平较高，但印度等国家的工人无法到美国就业。劳动力流动限制导致这些国家工资增长缓慢。</p>\n<p>在全球产业迁移过程中，资本总是偏爱劳动力廉价、工会力量薄弱、环境保护不足的地区。跨国企业在全球趋利避害，以极低的成本获取高额利润；而劳动力却困在一个地方，等待着资本扩张带来的工资缓慢上升，抑或是等来突如其来的整体性失业。</p>\n<p>当然，资本的全球化自由流动，也会以迂回的方式提<a href=\"https://laohu8.com/S/300098\">高新兴</a>国家的劳动力价格，抑制发达国家的工资增长。这就是赫克歇尔、俄林和萨缪尔森提出的要素价格均等化理论。但是，我们不能忽略了三点：一是阻碍劳动力自由流通，既不正当，也降低了劳动资源的配置效率和劳动者的收入；二是存在交易费用，新兴国家的劳动者借助资本的全球“迂回的方式”提高工资，中间产生了大量的交易费用，包括时间成本；三是存在阻碍劳动力流通的不正当制度，也可能存在抑制工资上涨、弱化劳工权益保护的制度。所以，价格均等化不是裱糊匠。</p>\n<p>不仅如此，在全球化的过程中，两大公共制度均对资方有利、对劳方不利。</p>\n<p>一是资本与劳动的税率差距。</p>\n<p>最近几十年，为了吸引国际资本，不管是发达国家，还是新兴国家，纷纷降低资本税率。一些国家给跨国公司大规模的退税，一些国家成了跨国公司及富豪的“避税天堂”。</p>\n<p>比如，开曼群岛，为全世界企业创造了一个“避税天堂”。在脱离英国的殖民统治后，这座资源匮乏、人烟稀少的小岛决定通过离岸金融谋一条生路。开曼群岛便立法：在当地注册的企业不需要缴税。1997年6月，这座小岛就吸引了全球50大银行中的47家在此设立分支机构。<a href=\"https://laohu8.com/S/INTC\">英特尔</a>、<a href=\"https://laohu8.com/S/ORCL\">甲骨文</a>、<a href=\"https://laohu8.com/S/PG\">宝洁</a>，以及中国的<a href=\"https://laohu8.com/S/00700\">腾讯</a>、<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、<a href=\"https://laohu8.com/S/NTES\">网易</a>、<a href=\"https://laohu8.com/S/BIDU\">百度</a>，均在开曼注册分公司。</p>\n<p>1950年以来，美国的税收制度变得对富人有利，对中产与穷人不利。在美国，以夫妻合并报税为例，年收入在18550美元以下的低收入家庭，税率为10%；收入在18551美元到75300美元之间的低收入家庭，税率为15%。而包括贝佐斯、马斯克、巴菲特、彭博、索罗斯等在内的美国25个顶级富豪的实际平均税率只有3.4%。</p>\n<p>为什么存在这种差异？因为资本全球流通，各国政府需要相互竞争国际资本；但劳动力被限制流通，各国政府可稳定地征收工薪税。如此税率，在原本劳动力要素全球化流通受阻的基础上，加重了分配的不公平以及财富的分化。</p>\n<p>另一项公共制度是全球主要央行超发货币。</p>\n<p>2008年美国金融危机后，美联储实施量化宽松，开启零利率时代。这带来什么后果？宽松货币大大膨胀了金融巨头的财富，同时又掠夺了中产与穷人的财富。</p>\n<p>首先，美联储拯救了本应该倒闭的金融巨头，而数百万中产家庭却在危机中破产；其次，美联储大规模购债，向金融市场注入大规模的流动性，直接推动金融资产升值，富豪的资产主要是股票、债券、房地产等金融资产，他们直接躺赢；最后，宽松政策降低了融资成本，国际金融机构和跨国公司获取大规模的廉价美元在全球市场攻城略地。</p>\n<p>宽松政策推高了房价、物价，货币的真实购买力下降，中产及穷人家庭的真实财富其实在下降。就连凯恩斯也承认，他在《货币论》中指出，通胀会引起财富重新分配，而使一些阶级得益，另一些阶级受损。</p>\n<p>龙王降雨，靠近龙王的人获利，远离龙王的人被大水淹没；先获得货币的人推高资产价格，后获得货币的人为资产泡沫买单。理查德·坎蒂隆最早洞察到这一点，他在《商业性质概论》中指出，最先拿到货币的人推高了价格，对不持有货币的人构成财富掠夺。</p>\n<p>所以，金融危机后，全球贫富差距持续扩大。金融机构、跨国公司及富豪反而成为了受益者，他们的资产持续上涨，而中低收入的家庭收入几乎没有增加，部分中产下沉。如今，以中产为主体的橄榄型社会正遭到挑战，日渐趋于幂率型社会。</p>\n<p><b>03、富人躺赢，中产内卷，穷人躺平</b></p>\n<p>全球贫富差距，到底会带来什么结果？</p>\n<p>全球贫富差距扩大化，导致严重地经济后果：经济持续低迷，实体通缩；资产价格膨胀，债务危机。</p>\n<p>中产及普通家庭的收入决定了国民消费能力。全球贫富差距扩大化，中低收入家庭的真实收入不增反降，导致有效需求不足，消费市场低迷，实体经济通缩，经济持续低增长。</p>\n<p>全球贫富差距扩大化，财富集中到少部分富人手上。有效需求不足导致消费市场低迷，降低了富人投资实体的边际收益率。富人将财富主要配置在奢侈消费，以及流动性强的金融资产及不动产上。这导致金融资产价格膨胀，爆发债务危机。</p>\n<p>以美国为例，2000年到2005年，美国的经济增长了12%，劳动生产率提高了17%，但普通劳动者的平均工资仅增长了3%。在此期间，美国金融衍生品的交易总量从154万亿美元增长到369万亿美元，足足增长了157%，而基础产品增速仅为33.5%。随后，次贷危机击穿了金融衍生品泡沫，引发金融危机。但是，美联储救市后，结构性问题更加突出。从2009年到2016年，美国经济持续了多年的低增长，而股票市场却迎来了持续大牛市。</p>\n<p>这又回到了凯恩斯对大萧条的分析——有效需求不足。马歇尔时代的经济学家认为，经济危机爆发后，价格下跌，当价格跌到一定程度，需求量和购买量逐渐增加，价格上涨，产能扩张，经济复苏，不会出现大萧条。这就自由市场的调节力量。但是，凯恩斯认为，有效需求不足导致自由市场失灵。凯恩斯的观察是对的，但他找错了原因。有效需求不足的真正原因是当时不公平的社会制度导致贫富差距达到历史极值。经济危机爆发后，价格下跌，但是广大工人失业，穷人更穷，购买力不足；价格持续下跌，依然买不起；价格再往下跌，还是买不起，自由市场迟迟无法恢复，经济持续多年萧条。这就是大萧条。</p>\n<p>如今，全球贫富差距逼近大萧条前期，有效需求不足，实体经济持续低迷。根本上还是不公平的制度造成的，现在的不公平主要是限制劳动者全球化自由流通、歧视性税率以及人为配置货币。所以，2008年之后，美国及全球主要经济体困在高泡沫、高债务、低增长、低通胀的陷阱之中。</p>\n<p>这种经济问题引发了两种社会思潮：一种是以美国本土中产为主体的特朗普主义，另一种是以低收入家庭及黑人为主体的民粹主义。</p>\n<p>这两种思潮都对不公平的制度及富人躺赢强烈不满，但是他们的政治诉求是不同的。中产阶级是一股积极、勇敢、奋进的社会力量。在公平的制度下，他们努力创造增量；但是，在不公平的制度下，他们的努力往往陷入内卷，陷入存量争夺。</p>\n<p>我曾在《大国教育与内卷化》一文中引用了美国经济学家马赛厄斯·德普克和法布里奇奥·齐利博蒂在《爱、金钱和孩子：育儿经济学》中的研究成果。两位教授发现，收入不平等程度与教育密集程度（俗称鸡娃）成正比。最近几十年，社会不公平程度加剧，贫富分化越来越大，社会阶层日趋固化，美国家庭的鸡娃现象及教育内卷化越来越严重。所以，美国中产阶级渴望通过政治选票改变不公平的制度，包括不公平的全球化秩序。这才有了特朗普上台后一顿操作、到处退群。</p>\n<p>美国低收入家庭与黑人群体掀起的是民粹主义思潮。他们意识到财富的鸿沟已经不可逾越，无论如何打拼，收入增长的速度也比不过房价的攀升，而金融资产的暴涨与自己没有丝毫关系。他们的政治诉求更倾向于直接的收入保障以及政府救助，并将矛头指向富人阶层。民主党桑德斯为代表的进步派呼吁对富人征收高额税收，直接剥夺富人财富，以迎合民粹主义。这是美式躺平主义。在南非等一些国家，极端民粹势力引发了大暴乱。</p>\n<p>拜登属于民主党的建制派代表，他的主要票仓正是进步派针对的跨国公司及金融巨富。但是，拜登很好地利用了民粹主义上台。为了巩固政治力量，拜登任命了一批黑人、少数裔及女性官员，同时让美国重新加入国际群聊。最重要的是，拜登实施万亿“新政”，给广大中低收入家庭发“红包”。</p>\n<p>问题是，钱从哪里来？</p>\n<p>美联储以充分就业之名义大开货币闸门，让联邦政府尽情借钱。公开资料显示，美国本财年前三季度的预算财政赤字将超过2万亿美元。问题是，只靠印钱来发债和还债，容易引发通货和美元贬值。事实上，拜登印钱撒钱的举动，增加了家庭的购买力和有效需求，但又引发了普遍性通胀。</p>\n<p>为了降低风险，拜登还得考虑征税。最开始，拜登考虑向国内富人和企业征税，包括提高年收入40万美元家庭的税率，提高资本利得税等等。这么操作，不容易打到他的核心票仓，针对的主要是本土中高收入人群及企业。</p>\n<p>但是，拜登又游说G7通过全球最低税率和重新划分征税权，这一措施进而扩大到G20，实现全球税收治理。有没有好处？有好处，设立全球最低公司税率可以管控各国之间的财税竞争，降低跨国集团及全球性富豪的避税空间。据估算，如果将这一税率设置为15%，那么在全球层面每年能够多产生约1500亿美元的税收。</p>\n<p>不过，这么操作对拜登的核心票仓——跨国公司及金融富豪有冲击。但是，大疫之下，全球政治左转，拜登不得不借助低收入群体的票仓先巩固政治力量。同时，拜登也给跨国公司及金融富豪提供了一些便利。他将税率降低到15%，给金融巨头维持持久的货币及财政宽松政策。</p>\n<p>全球税收治理，一定程度上可以缓解跨国资本与本土劳动的税率不公平问题。但是，这一政策却容易掩盖问题的实质。</p>\n<p>全球贫富分化持续扩大的主要原因是不正当的制度，即对劳动力的全球化自由流通的限制，以及货币配置、征税的不公平问题。</p>\n<p>伦敦经济学院的经济地理学教授安德烈斯·罗德里格斯-波塞和迈克尔·斯托珀尔在《住房、城市增长和不平等》一文中引用了空间经济学的观点：“唯一有可能改变现状的地方性政策是破除从落后地区到主要大都市地区的移民壁垒，以应对当前的分化和不平等困境”。</p>\n<p>破除劳动力迁移及移民壁垒的难题，主要来自国家制度的生命力，以及持久以来的国家主义固化思维。如果换一个思路，全球各国都放开税率竞争，国家和地区可以使用低税率竞争手段吸引国际资本；但同时放开对劳动力的全球流通限制，以低劳务税率或者优厚政策来吸引劳动力。一旦人可自由流动，货币配置及税收政策面临竞争，可抑制其不公平性与不正当性。</p>\n<p>劳动力迁移的经典案例来自中国香港的佣人市场。上个世纪70年代，菲律宾经济遭遇危机，总统马科斯于1974年签署《劳工法典》并出台一系列政策，将对外输出劳力作为国家发展战略的一部分，以期缓解国内的就业压力。这时，中国香港经济崛起，需要大规模的劳动力。港府放宽了对菲律宾的劳动签证，引进菲律宾的佣人，劳动力流动性大大增加。如今中国香港菲佣的月薪不过四五千，远低于中国香港一万八的月工资中位数，但是22万菲佣给菲律宾带来巨额的外汇收入。同时，这也缓解了中国香港老龄化问题。</p>\n<p>劳动力全球化迁移以及移民，会不会对国家组织构成挑战？从商品全球化流通开始，国家组织的机能不断被削减，也在不断调整与适应。从族群、村落、城邦到现代国家，集体行动的组织，只是一个个匆匆过客，而个体及一般性规律是真实的存在。正如米塞斯在《人的行动》中所说：“人是真实的存在，组织是在此基础上的主观存在”。前者为本，后者为器。本文列举的国家案例只为器，而所论述的一般性及正当性实为本。</p>","source":"lsy1571708360699","collect":0,"html":"<!DOCTYPE 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}\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\">\n全球贫富格局：躺赢、内卷与躺平\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 07:52 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/uLK-m-2peePMDqQHCFitmA><strong>智本社</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2021年7月10日，二十国集团（G20）财长和央行行长会议闭幕。会议公告宣称，已就更稳定、更公平的国际税收框架达成了历史性协议。会议达成了“双支柱”成果：重新划分跨国企业征税权、设定全球最低企业税率。\n过去几十年，不少国家为了吸引国际资本，纷纷降低资本税率，给跨国公司与富豪提供了极大的避税便利。资本在全球范围内自由逐利与“合理”避税，劳动则被限制全球流通，在本地实打实地纳税，劳资收入差距持续扩大...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/uLK-m-2peePMDqQHCFitmA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/uLK-m-2peePMDqQHCFitmA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172207687","content_text":"2021年7月10日，二十国集团（G20）财长和央行行长会议闭幕。会议公告宣称，已就更稳定、更公平的国际税收框架达成了历史性协议。会议达成了“双支柱”成果：重新划分跨国企业征税权、设定全球最低企业税率。\n过去几十年，不少国家为了吸引国际资本，纷纷降低资本税率，给跨国公司与富豪提供了极大的避税便利。资本在全球范围内自由逐利与“合理”避税，劳动则被限制全球流通，在本地实打实地纳税，劳资收入差距持续扩大，全球贫富悬殊逼近历史高位。\n美国新闻机构ProPublica称根据其获取的数千份IRS保密数据，包括贝佐斯、马斯克、巴菲特、彭博、索罗斯等在内的美国25个顶级富豪的实际平均税率只有3.4%，远低于年收入位于中位数水平（7万美元）的美国家庭的税率——14%，低于家庭收入超过62.8万美元的高收入家庭的边际税率——37%，甚至低于全美最低收入家庭（年收入不足2万美元）的边际税率——10%。与富豪们极低税率相比，全美中产家庭的税率普遍在15%-20%。\n贫富差距扩大化，不是美国的特产，而是世界的通病。全球贫富差距为何持续扩大？这一历史性协议能否遏制全球贫富悬殊恶化？\n本文以美国为例探索全球贫富分化的根源及危害。\n本文逻辑\n一、自由市场，功利主义，自然法则\n二、资本流通，劳动限制，贫富分化\n三、富人躺赢，中产内卷，穷人躺平\n01、自由市场，功利主义，自然法则\n桥水基金一份报告指出，1980年代，美国收入前40%家庭的收入是后60%家庭收入的4倍，而到2016年，这一差距已经拉大为10倍。如今，美国最富有的1%的人拥有的财富总量，大约等于最贫穷的90%的人拥有的财富总量。这一财富分配状况与1935至1940年的情况类似。\n美国并不是个例，贫富差距扩大化已是全球普遍性问题。世界基尼系数已经达到0.7左右，超过了危险线。一些国家缺乏公开的数据，其贫富差距难以量化，但这一现象是肉眼可见的。\n问题来了，贫富差距为何持续扩大？很多人将贫富差距的原因归咎于自由市场，尤其是最近几十年的经济全球化。从80年代开始，经济全球化一日千里，不少新兴国家加入了这轮全球化浪潮。但是，这几十年，全球贫富差距伴随着全球化而迅速扩大。这到底是自由市场和全球化的问题，还是限制自由市场和全球化的问题？\n首先，必须明确的是，自由市场定然会造成贫富差距。自由市场直面资源不足的难题，激励人多样性的天赋，去竞争并高效利用稀缺的资源。但是，天赋有多样性之美，也有高低之分；竞争有胜负，有胜负就有淘汰与破产。\n可见，享受自由市场带来的天赋多样性以及文明成果的同时，我们也不得不面对来自竞争的压力、淘汰的残酷以及贫富悬殊的现实。反过来，如果忽略资源稀缺，盲目实施均贫富政策，会引发逆向淘汰，陷入共同贫穷的困境。这就是美国经济学家托马斯·索维尔所说的：“始于均富，终于均贫”。他说：“经济学的第一课是稀缺性：我们没有足够的资源来完全满足所有人的愿望。而政治学的第一课，则是无视经济学的第一课。”\n所以，一个国家发展自由市场的前提是，国民应该具备强大的个人意志以及勇敢竞争的品质，摒弃盲目拥抱强人的懦弱心态，消灭渴望借助强人剥夺他人财富的卑劣企图，以及粉碎政治投机者哄骗选民的机会主义。\n当然，这并不是我要讨论的重点。关键问题在于：自由市场会带来多大程度的贫富差距？\n经济学家通常认为，自由市场不会导致过度的贫富差距。他们根据功利主义判断，自由市场带来效率与繁荣，而一定的贫富差距是可忍受的代价。问题是，如何判断自由市场不会导致贫富差距的持续扩大化？\n对于这一个问题，亚当·斯密在《国富论》中的处理是谨慎而模糊的。他的逻辑是，分工可以促进技术熟练度，技术熟练进而促进规模递增。但是，规模递增容易导致市场集中，进而推导出市场垄断、财富集中以及贫富分化。到规模递增这里，斯密就没有讨论下去了。他只是用了一个今天已成为常识的表述：在自由市场的交换体系中，即便获利最少的那个人，他的财富也是在增加的。\n问题是，假如低收入阶层年收入增长率只有2%，而富豪阶层年收入增长率20%，贫富差距持续扩大，这样的自由市场和社会体系还能持续吗？\n后来，阿尔弗雷德·马歇尔用内部经济和外部经济做出了解释。他认为，内部经济激励企业投资技术，实现规模递增，进而获取垄断利润；外部经济提高了其他人的收益，削弱企业的投资积极性。这就是马歇尔悖论。\n马歇尔的意思是，经济的外部性可以抑制财富集中。内部来看，因为有内部经济，这个社会的财富会向大型企业与富豪集中，但是又因为存在外部经济，比如信息外溢，其它小企业与个人也会受益。\n现在的经济学家大多数使用自由市场的调节机制来解释。当大型企业的市场集中越拉越高，财富向富豪集中，投资边际收益率递减，企业市场竞争力下降，这时就有新的竞争对手崛起。比如，IBM当年统治了大型计算机，后来微软统治了个人计算机，如今谷歌和Facebook统治了互联网时代。这就是一个自由竞争、效率增进的动态平衡。\n但是，这到底是动态平衡，还是持续的动态失衡呢？是不是一个垄断者替代另外一个垄断者？告别了系统的控制者，又迎来了大数据的控制者。这些跨国公司提高了技术水平及经济效率，但也可能抑制了技术与效率的最大化。在美国反垄断史上，这些问题存在巨大的争议。\n探讨到这里，似乎已经进入了无解的迷局。这时，我们要出来，重新审视。技术垄断者带来了效率还是损失了效率？自由市场会造成多大程度的贫富悬殊？贫富悬殊多大是可容忍的？经济学家使用功利主义——效率与效用，来判断这些问题，其实误入歧途。\n长久以来，经济学家使用功利主义作为标准，这误导和阻碍了经济学的发展。其实，经济学以及任何学科的标准应该是一般性，具体来说是规律的一般性以及在此基础上的正当性（自然法）。经济学主张自由交换和私有产权，并不是因为经济效率，而是因为其具有正当性——符合人的行为规律的一般性，遵循了自然法。比如，主张言论自由的自然法逻辑是言论是身体的延伸品。身体属于个人，由个人自由支配，因此言论也是自由的。同样，独立的技术发明属于个人产权，也是这个逻辑。反过来说，经济学的主张，正是因为符合正当性，遵循人的行为规律，才具有经济效率。所以，一般性与正当性比功利主义更为根本。\n回到主题。如果按照功利主义和效率标准，自由市场与贫富差距的关系问题是一个无解之题。你说效率，他说公平，和事佬说效率与公平兼顾。你说自由，他说生存，和事佬说生存之上有自由。互联网平台是否最大限度地促进了技术进步？有没有扩大了贫富差距？这无法证实，也难以证伪。我们只需要关注正当性，即互联网平台与其它企业的准入标准、竞争规则是不是平等的？我们不需要关注互联网平台是否扩大了贫富差距，但是，我们可以明确的是，互联网平台占用、控制和滥用用户的私人数据，这是不正当的。这种不正当性会扩大贫富差距，平台攫取用户的消费者剩余，财富向互联网富豪集中。\n所以，按照正当性来考虑，贫富差距的讨论变得清晰而理性。如果是正当性的制度，自由市场的贫富差距不应该成为问题本身，它也不会成为问题。正如仇富的本质是仇不公。反过来，如果是不正当的制度，自由市场会带来极大的贫富差距，财富持续向富人集中，自由市场断裂。经济学家认为，富人会降低“猎取”，因为穷人没有购买力、市场萧条对他们不利。这种认知的错误在于，认为自由交换是竞争资源的唯一方式。其实，除了自由交换外，人还通过掠夺、控制等手段竞争资源。在人类历史上，后者使用的时间要远远多于前者。正如道格拉斯·诺斯所说，在不正当的制度下，既得利益者往往会建立更加不公平与低效的制度。正如当今的世界，富人减少投资实体，想办法避税，反复投资金融资产，然后让货币当局反复为其金融资产兜底。\n好的，问题的关键指向了制度的正当性。\n02、资本流通，劳动限制，贫富分化\n正当性，是一个自然法的概念。从经济学的角度，自由流通具有正当性，它符合天赋人权之个体存在。下面按照古典主义分析方法，哪些要素、哪些群体、哪些人的自由流通被制度性限制，哪些则享受了自由。\n正当性决定了功利性——经济效率。经济要素在国际市场中流通越自由，资源配置效率则越高，投资者的收益率就越高。反过来说，如果哪一类要素被限制全球化流通，那么它的配置效率则更低，依赖此要素生存的人的收益率就越低。\n我们知道，经济全球化是一个去国家化的过程，是国家制度的限制墙不断被推翻的过程。最早，关税的墙被推翻，商品最早实现全球化。二战前的全球化，主要是商品的全球化。二战后，全球化走向了经济要素的全球化。经济要素的全球化，先是信息与资本的全球化，然后是技术与人才的全球化，最后才是普通劳动力的全球化。\n不过，最近50年资本的全球化迅速崛起，尤其是1971年布雷顿森林体系解体后，欧美世界逐渐实施浮动汇率，资本跨国流动扶摇直上。但是，普通劳动力的全球化却停滞不前。资本的全球化自由流通，与劳动力的国家化限制，导致资本与劳动的边际收益率差距持续扩大。主要靠资本获利的人，与主要靠劳动力生存的人，双方的收入差距越来越大，成为最近几十年全球贫富悬殊扩大化的主因。\n英国经济学家斯拉法是凯恩斯的门徒，也被称为李嘉图学说的继承人。他在《用商品生产商品》一书中，使用古典主义分析方法做了这样的预测“经济增长的结果，将是工资在国民收入中所占的比重下降，工资与利润之比朝着不利于工资的方向变化。”\n斯拉法“用商品生产商品”的经济逻辑是，资本拥有天然的流通属性，资方可以将资本、半成品、原材料、设备、商品在全球自由流通、自由配置，从而获得更高的边际收益率。但是，劳动不具备资本这种流动性。经济这样发展下去的结果是，劳资双方的收益率持续扩大。托马斯·皮凯蒂在《21世纪资本论》中也采用劳动与资本的古典主义分析方法，但是其结论及对策是缺乏一般性逻辑支撑的。\n比如，美国通用汽车，作为资方的代表，它的资本可以在全球市场自由流通，可以将工厂搬迁到日本、印度、越南等国家，寻求劳动力低廉的投资洼地。资本走后，失业的底特律汽车工人无法到亚洲国家来重新就业，降低了他们的家庭收入。反过来，美国整体工资水平较高，但印度等国家的工人无法到美国就业。劳动力流动限制导致这些国家工资增长缓慢。\n在全球产业迁移过程中，资本总是偏爱劳动力廉价、工会力量薄弱、环境保护不足的地区。跨国企业在全球趋利避害，以极低的成本获取高额利润；而劳动力却困在一个地方，等待着资本扩张带来的工资缓慢上升，抑或是等来突如其来的整体性失业。\n当然，资本的全球化自由流动，也会以迂回的方式提高新兴国家的劳动力价格，抑制发达国家的工资增长。这就是赫克歇尔、俄林和萨缪尔森提出的要素价格均等化理论。但是，我们不能忽略了三点：一是阻碍劳动力自由流通，既不正当，也降低了劳动资源的配置效率和劳动者的收入；二是存在交易费用，新兴国家的劳动者借助资本的全球“迂回的方式”提高工资，中间产生了大量的交易费用，包括时间成本；三是存在阻碍劳动力流通的不正当制度，也可能存在抑制工资上涨、弱化劳工权益保护的制度。所以，价格均等化不是裱糊匠。\n不仅如此，在全球化的过程中，两大公共制度均对资方有利、对劳方不利。\n一是资本与劳动的税率差距。\n最近几十年，为了吸引国际资本，不管是发达国家，还是新兴国家，纷纷降低资本税率。一些国家给跨国公司大规模的退税，一些国家成了跨国公司及富豪的“避税天堂”。\n比如，开曼群岛，为全世界企业创造了一个“避税天堂”。在脱离英国的殖民统治后，这座资源匮乏、人烟稀少的小岛决定通过离岸金融谋一条生路。开曼群岛便立法：在当地注册的企业不需要缴税。1997年6月，这座小岛就吸引了全球50大银行中的47家在此设立分支机构。英特尔、甲骨文、宝洁，以及中国的腾讯、阿里巴巴、网易、百度，均在开曼注册分公司。\n1950年以来，美国的税收制度变得对富人有利，对中产与穷人不利。在美国，以夫妻合并报税为例，年收入在18550美元以下的低收入家庭，税率为10%；收入在18551美元到75300美元之间的低收入家庭，税率为15%。而包括贝佐斯、马斯克、巴菲特、彭博、索罗斯等在内的美国25个顶级富豪的实际平均税率只有3.4%。\n为什么存在这种差异？因为资本全球流通，各国政府需要相互竞争国际资本；但劳动力被限制流通，各国政府可稳定地征收工薪税。如此税率，在原本劳动力要素全球化流通受阻的基础上，加重了分配的不公平以及财富的分化。\n另一项公共制度是全球主要央行超发货币。\n2008年美国金融危机后，美联储实施量化宽松，开启零利率时代。这带来什么后果？宽松货币大大膨胀了金融巨头的财富，同时又掠夺了中产与穷人的财富。\n首先，美联储拯救了本应该倒闭的金融巨头，而数百万中产家庭却在危机中破产；其次，美联储大规模购债，向金融市场注入大规模的流动性，直接推动金融资产升值，富豪的资产主要是股票、债券、房地产等金融资产，他们直接躺赢；最后，宽松政策降低了融资成本，国际金融机构和跨国公司获取大规模的廉价美元在全球市场攻城略地。\n宽松政策推高了房价、物价，货币的真实购买力下降，中产及穷人家庭的真实财富其实在下降。就连凯恩斯也承认，他在《货币论》中指出，通胀会引起财富重新分配，而使一些阶级得益，另一些阶级受损。\n龙王降雨，靠近龙王的人获利，远离龙王的人被大水淹没；先获得货币的人推高资产价格，后获得货币的人为资产泡沫买单。理查德·坎蒂隆最早洞察到这一点，他在《商业性质概论》中指出，最先拿到货币的人推高了价格，对不持有货币的人构成财富掠夺。\n所以，金融危机后，全球贫富差距持续扩大。金融机构、跨国公司及富豪反而成为了受益者，他们的资产持续上涨，而中低收入的家庭收入几乎没有增加，部分中产下沉。如今，以中产为主体的橄榄型社会正遭到挑战，日渐趋于幂率型社会。\n03、富人躺赢，中产内卷，穷人躺平\n全球贫富差距，到底会带来什么结果？\n全球贫富差距扩大化，导致严重地经济后果：经济持续低迷，实体通缩；资产价格膨胀，债务危机。\n中产及普通家庭的收入决定了国民消费能力。全球贫富差距扩大化，中低收入家庭的真实收入不增反降，导致有效需求不足，消费市场低迷，实体经济通缩，经济持续低增长。\n全球贫富差距扩大化，财富集中到少部分富人手上。有效需求不足导致消费市场低迷，降低了富人投资实体的边际收益率。富人将财富主要配置在奢侈消费，以及流动性强的金融资产及不动产上。这导致金融资产价格膨胀，爆发债务危机。\n以美国为例，2000年到2005年，美国的经济增长了12%，劳动生产率提高了17%，但普通劳动者的平均工资仅增长了3%。在此期间，美国金融衍生品的交易总量从154万亿美元增长到369万亿美元，足足增长了157%，而基础产品增速仅为33.5%。随后，次贷危机击穿了金融衍生品泡沫，引发金融危机。但是，美联储救市后，结构性问题更加突出。从2009年到2016年，美国经济持续了多年的低增长，而股票市场却迎来了持续大牛市。\n这又回到了凯恩斯对大萧条的分析——有效需求不足。马歇尔时代的经济学家认为，经济危机爆发后，价格下跌，当价格跌到一定程度，需求量和购买量逐渐增加，价格上涨，产能扩张，经济复苏，不会出现大萧条。这就自由市场的调节力量。但是，凯恩斯认为，有效需求不足导致自由市场失灵。凯恩斯的观察是对的，但他找错了原因。有效需求不足的真正原因是当时不公平的社会制度导致贫富差距达到历史极值。经济危机爆发后，价格下跌，但是广大工人失业，穷人更穷，购买力不足；价格持续下跌，依然买不起；价格再往下跌，还是买不起，自由市场迟迟无法恢复，经济持续多年萧条。这就是大萧条。\n如今，全球贫富差距逼近大萧条前期，有效需求不足，实体经济持续低迷。根本上还是不公平的制度造成的，现在的不公平主要是限制劳动者全球化自由流通、歧视性税率以及人为配置货币。所以，2008年之后，美国及全球主要经济体困在高泡沫、高债务、低增长、低通胀的陷阱之中。\n这种经济问题引发了两种社会思潮：一种是以美国本土中产为主体的特朗普主义，另一种是以低收入家庭及黑人为主体的民粹主义。\n这两种思潮都对不公平的制度及富人躺赢强烈不满，但是他们的政治诉求是不同的。中产阶级是一股积极、勇敢、奋进的社会力量。在公平的制度下，他们努力创造增量；但是，在不公平的制度下，他们的努力往往陷入内卷，陷入存量争夺。\n我曾在《大国教育与内卷化》一文中引用了美国经济学家马赛厄斯·德普克和法布里奇奥·齐利博蒂在《爱、金钱和孩子：育儿经济学》中的研究成果。两位教授发现，收入不平等程度与教育密集程度（俗称鸡娃）成正比。最近几十年，社会不公平程度加剧，贫富分化越来越大，社会阶层日趋固化，美国家庭的鸡娃现象及教育内卷化越来越严重。所以，美国中产阶级渴望通过政治选票改变不公平的制度，包括不公平的全球化秩序。这才有了特朗普上台后一顿操作、到处退群。\n美国低收入家庭与黑人群体掀起的是民粹主义思潮。他们意识到财富的鸿沟已经不可逾越，无论如何打拼，收入增长的速度也比不过房价的攀升，而金融资产的暴涨与自己没有丝毫关系。他们的政治诉求更倾向于直接的收入保障以及政府救助，并将矛头指向富人阶层。民主党桑德斯为代表的进步派呼吁对富人征收高额税收，直接剥夺富人财富，以迎合民粹主义。这是美式躺平主义。在南非等一些国家，极端民粹势力引发了大暴乱。\n拜登属于民主党的建制派代表，他的主要票仓正是进步派针对的跨国公司及金融巨富。但是，拜登很好地利用了民粹主义上台。为了巩固政治力量，拜登任命了一批黑人、少数裔及女性官员，同时让美国重新加入国际群聊。最重要的是，拜登实施万亿“新政”，给广大中低收入家庭发“红包”。\n问题是，钱从哪里来？\n美联储以充分就业之名义大开货币闸门，让联邦政府尽情借钱。公开资料显示，美国本财年前三季度的预算财政赤字将超过2万亿美元。问题是，只靠印钱来发债和还债，容易引发通货和美元贬值。事实上，拜登印钱撒钱的举动，增加了家庭的购买力和有效需求，但又引发了普遍性通胀。\n为了降低风险，拜登还得考虑征税。最开始，拜登考虑向国内富人和企业征税，包括提高年收入40万美元家庭的税率，提高资本利得税等等。这么操作，不容易打到他的核心票仓，针对的主要是本土中高收入人群及企业。\n但是，拜登又游说G7通过全球最低税率和重新划分征税权，这一措施进而扩大到G20，实现全球税收治理。有没有好处？有好处，设立全球最低公司税率可以管控各国之间的财税竞争，降低跨国集团及全球性富豪的避税空间。据估算，如果将这一税率设置为15%，那么在全球层面每年能够多产生约1500亿美元的税收。\n不过，这么操作对拜登的核心票仓——跨国公司及金融富豪有冲击。但是，大疫之下，全球政治左转，拜登不得不借助低收入群体的票仓先巩固政治力量。同时，拜登也给跨国公司及金融富豪提供了一些便利。他将税率降低到15%，给金融巨头维持持久的货币及财政宽松政策。\n全球税收治理，一定程度上可以缓解跨国资本与本土劳动的税率不公平问题。但是，这一政策却容易掩盖问题的实质。\n全球贫富分化持续扩大的主要原因是不正当的制度，即对劳动力的全球化自由流通的限制，以及货币配置、征税的不公平问题。\n伦敦经济学院的经济地理学教授安德烈斯·罗德里格斯-波塞和迈克尔·斯托珀尔在《住房、城市增长和不平等》一文中引用了空间经济学的观点：“唯一有可能改变现状的地方性政策是破除从落后地区到主要大都市地区的移民壁垒，以应对当前的分化和不平等困境”。\n破除劳动力迁移及移民壁垒的难题，主要来自国家制度的生命力，以及持久以来的国家主义固化思维。如果换一个思路，全球各国都放开税率竞争，国家和地区可以使用低税率竞争手段吸引国际资本；但同时放开对劳动力的全球流通限制，以低劳务税率或者优厚政策来吸引劳动力。一旦人可自由流动，货币配置及税收政策面临竞争，可抑制其不公平性与不正当性。\n劳动力迁移的经典案例来自中国香港的佣人市场。上个世纪70年代，菲律宾经济遭遇危机，总统马科斯于1974年签署《劳工法典》并出台一系列政策，将对外输出劳力作为国家发展战略的一部分，以期缓解国内的就业压力。这时，中国香港经济崛起，需要大规模的劳动力。港府放宽了对菲律宾的劳动签证，引进菲律宾的佣人，劳动力流动性大大增加。如今中国香港菲佣的月薪不过四五千，远低于中国香港一万八的月工资中位数，但是22万菲佣给菲律宾带来巨额的外汇收入。同时，这也缓解了中国香港老龄化问题。\n劳动力全球化迁移以及移民，会不会对国家组织构成挑战？从商品全球化流通开始，国家组织的机能不断被削减，也在不断调整与适应。从族群、村落、城邦到现代国家，集体行动的组织，只是一个个匆匆过客，而个体及一般性规律是真实的存在。正如米塞斯在《人的行动》中所说：“人是真实的存在，组织是在此基础上的主观存在”。前者为本，后者为器。本文列举的国家案例只为器，而所论述的一般性及正当性实为本。","news_type":1},"isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179153661,"gmtCreate":1626495564153,"gmtModify":1703761145119,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179153661","repostId":"1130243635","repostType":4,"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170789201,"gmtCreate":1626451187003,"gmtModify":1703760531035,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170789201","repostId":"2151742215","repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"什么信号？为了对冲下行风险，美股空头头寸创三年新高","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。</p>\n<p>然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。</p>\n<p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>由此，<b>标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。</b></p>\n<p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p>\n<p>简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。</p>\n<p>对此，<a href=\"https://laohu8.com/S/03329\">交银国际</a>首席策略师兼研究部主管洪灏也发出了调侃的声音：</p>\n<p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p>\n<p>一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，<b>令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。</b></p>\n<blockquote>\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n</blockquote>\n<p>目前，这一隐含相关性已经开始从接近历史低点的水平回升：</p>\n<p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>\n<p>与此同时，<b>近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。</b></p>\n<p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p>\n<p>对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？</p>","source":"wallstreetcn_api","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>什么信号？为了对冲下行风险，美股空头头寸创三年新高</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\">\n什么信号？为了对冲下行风险，美股空头头寸创三年新高\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:20 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635582><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635582\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","OEX":"标普100","DOG":"道指反向ETF","SDS":"两倍做空标普500ETF","SDOW":"道指三倍做空ETF-ProShares","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","QLD":"纳指两倍做多ETF","PSQ":"纳指反向ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","DDM":"道指两倍做多ETF",".DJI":"道琼斯","TQQQ":"纳指三倍做多ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144132447,"gmtCreate":1626271186489,"gmtModify":1703756800598,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144132447","repostId":"1156462382","repostType":4,"repost":{"id":"1156462382","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626270302,"share":"https://ttm.financial/m/news/1156462382?lang=&edition=fundamental","pubTime":"2021-07-14 21:45","market":"us","language":"en","title":"Compass Minerals shares rises 17% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1156462382","media":"Tiger Newspress","summary":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it ","content":"<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Compass Minerals shares rises 17% in early trading</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\">\nCompass Minerals shares rises 17% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-14 21:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CMP":"罗盘矿物"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156462382","content_text":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.\n\nThe announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.\nThe company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.\nA large part of lithium is extracted from brine or seawater.\nElectric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.\nThe company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.\nCompass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.\nThe company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142002037,"gmtCreate":1626101902729,"gmtModify":1703753502712,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"comment","listText":"comment","text":"comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/142002037","repostId":"1157757312","repostType":4,"repost":{"id":"1157757312","kind":"news","pubTimestamp":1626101712,"share":"https://ttm.financial/m/news/1157757312?lang=&edition=fundamental","pubTime":"2021-07-12 22:55","market":"us","language":"en","title":"Goldman says bet on these stocks with expanding profitability into earnings season","url":"https://stock-news.laohu8.com/highlight/detail?id=1157757312","media":"CNBC","summary":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on compan","content":"<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman says bet on these stocks with expanding profitability into earnings season</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman says bet on these stocks with expanding profitability into earnings season\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 22:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FCX":"麦克莫兰铜金","NEM":"纽曼矿业"},"source_url":"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1157757312","content_text":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\nOn the surface, this is slated to be a stellar earnings season with profits for S&P 500 companies expected to jump 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. However, Goldman noted that the median stock is only forecast to grow earnings by 24%, and many companies are expected to feel the pain from higher inflation.\n“Global shipping woes, raw material inflation as well as acute shortages in both labor and semiconductors have combined to increase costs for companies across the economy,” David Kostin, Goldman’s head of U.S. equity strategy, said in a note.\nThe S&P 500 has climbed to multiple records with a 16% rally in 2021, shaking off fears that the economic recovery might be slowing down and that the Federal Reserve might start tightening ultra-easy monetary policy. Many on Wall Street believe the second half of the year will be much choppier and investors should take a more selective approach.\nIn this inflationary environment, companies with the highest profit margins have started to outperform, according to Goldman.\n“Investors have started to reward companies with attractive margin profiles,” Kostin said. “Our valuation model shows than profit margins are the second most important driver of company valuations today, behind only equity duration.”\n\nTo identify stocks with expanding profitability, Goldman screened S&P 500 companies with above-average net margins, realized margin growth of 50 basis points or more in 2020, and expected margin growth of 50 basis points for more in each of the next two years.\nThe median stock in the basket has a net margin of 26% in 2021, versus 13% for a typical S&P 500 stock. Meanwhile, the median stock in the screen is also expected to grow margins by 306 basis points through 2022, compared to 156 basis points for the median S&P 500 stock.\nThe list features a slew of semiconductor companies includingTexas Instruments,Broadcom,Analog DevicesandMicrochip Technology. Many chip companies are benefiting from surging demand among smartphone makers, auto companies and gaming firms amid a global shortage.\nMining companies Newmont Corp.and Freeport-McMoRan were also highlighted by Goldman, as well as railroad company Union Pacific.","news_type":1},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142008227,"gmtCreate":1626101851669,"gmtModify":1703753500732,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/142008227","repostId":"1157757312","repostType":4,"repost":{"id":"1157757312","kind":"news","pubTimestamp":1626101712,"share":"https://ttm.financial/m/news/1157757312?lang=&edition=fundamental","pubTime":"2021-07-12 22:55","market":"us","language":"en","title":"Goldman says bet on these stocks with expanding profitability into earnings season","url":"https://stock-news.laohu8.com/highlight/detail?id=1157757312","media":"CNBC","summary":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on compan","content":"<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman says bet on these stocks with expanding profitability into earnings season</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman says bet on these stocks with expanding profitability into earnings season\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 22:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FCX":"麦克莫兰铜金","NEM":"纽曼矿业"},"source_url":"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1157757312","content_text":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\nOn the surface, this is slated to be a stellar earnings season with profits for S&P 500 companies expected to jump 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. However, Goldman noted that the median stock is only forecast to grow earnings by 24%, and many companies are expected to feel the pain from higher inflation.\n“Global shipping woes, raw material inflation as well as acute shortages in both labor and semiconductors have combined to increase costs for companies across the economy,” David Kostin, Goldman’s head of U.S. equity strategy, said in a note.\nThe S&P 500 has climbed to multiple records with a 16% rally in 2021, shaking off fears that the economic recovery might be slowing down and that the Federal Reserve might start tightening ultra-easy monetary policy. Many on Wall Street believe the second half of the year will be much choppier and investors should take a more selective approach.\nIn this inflationary environment, companies with the highest profit margins have started to outperform, according to Goldman.\n“Investors have started to reward companies with attractive margin profiles,” Kostin said. “Our valuation model shows than profit margins are the second most important driver of company valuations today, behind only equity duration.”\n\nTo identify stocks with expanding profitability, Goldman screened S&P 500 companies with above-average net margins, realized margin growth of 50 basis points or more in 2020, and expected margin growth of 50 basis points for more in each of the next two years.\nThe median stock in the basket has a net margin of 26% in 2021, versus 13% for a typical S&P 500 stock. Meanwhile, the median stock in the screen is also expected to grow margins by 306 basis points through 2022, compared to 156 basis points for the median S&P 500 stock.\nThe list features a slew of semiconductor companies includingTexas Instruments,Broadcom,Analog DevicesandMicrochip Technology. Many chip companies are benefiting from surging demand among smartphone makers, auto companies and gaming firms amid a global shortage.\nMining companies Newmont Corp.and Freeport-McMoRan were also highlighted by Goldman, as well as railroad company Union Pacific.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141703719,"gmtCreate":1625889426631,"gmtModify":1703750527618,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141703719","repostId":"1177397700","repostType":4,"repost":{"id":"1177397700","kind":"news","pubTimestamp":1625876446,"share":"https://ttm.financial/m/news/1177397700?lang=&edition=fundamental","pubTime":"2021-07-10 08:20","market":"us","language":"en","title":"Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.","url":"https://stock-news.laohu8.com/highlight/detail?id=1177397700","media":"Barrons","summary":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.Now that Facebook  has earned access—its market cap was down slightly by the end of the week, to ","content":"<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.</p>\n<p>Now that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.</p>\n<p>There’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by&nbsp;Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and&nbsp;Visa(V).</p>\n<p>We’ve covered all of those stocks closely at&nbsp;Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review &amp; Preview newsletter.</p>\n<p>A few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and&nbsp;JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While&nbsp;Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.</p>\n<p>I’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.</p>\n<p>The business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.</p>\n<p>While the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.</p>\n<p><img src=\"https://static.tigerbbs.com/ed700f7a7812c0bf7b9b205ad99c33e7\" tg-width=\"872\" tg-height=\"769\" referrerpolicy=\"no-referrer\"></p>\n<p>I asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&amp;P information technology, as a percent of overall S&amp;P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”</p>\n<p>Right now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.</p>\n<p>Tech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&amp;P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&amp;P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).</p>\n<p>Tech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.</p>\n<p>On Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.</p>\n<p>By now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/963cb5c585db8df9615cd98e0bbd4bbc\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"><span>A room at the F8 Developers Conference in San Jose, Calif.</span></p>\n<p>Privacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.</p>\n<p>For now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.</p>\n<p>It’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”</p>","source":"lsy1601382232898","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>Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.</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\">\nWhich Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the ...</p>\n\n<a href=\"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WMT":"沃尔玛","V":"Visa","UNH":"联合健康","JPM":"摩根大通","AAPL":"苹果","BABA":"阿里巴巴","TSM":"台积电","NVDA":"英伟达","BRK.A":"伯克希尔","GOOGL":"谷歌A","AMZN":"亚马逊","TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177397700","content_text":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.\nNow that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.\nThere’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and Visa(V).\nWe’ve covered all of those stocks closely at Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review & Preview newsletter.\nA few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.\nI’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.\nThe business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.\nWhile the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.\n\nI asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&P information technology, as a percent of overall S&P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”\nRight now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.\nTech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).\nTech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.\nOn Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.\nBy now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.\nA room at the F8 Developers Conference in San Jose, Calif.\nPrivacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.\nFor now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.\nIt’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141700124,"gmtCreate":1625889252568,"gmtModify":1703750524531,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141700124","repostId":"1177397700","repostType":4,"repost":{"id":"1177397700","kind":"news","pubTimestamp":1625876446,"share":"https://ttm.financial/m/news/1177397700?lang=&edition=fundamental","pubTime":"2021-07-10 08:20","market":"us","language":"en","title":"Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.","url":"https://stock-news.laohu8.com/highlight/detail?id=1177397700","media":"Barrons","summary":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.Now that Facebook  has earned access—its market cap was down slightly by the end of the week, to ","content":"<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.</p>\n<p>Now that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.</p>\n<p>There’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by&nbsp;Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and&nbsp;Visa(V).</p>\n<p>We’ve covered all of those stocks closely at&nbsp;Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review &amp; Preview newsletter.</p>\n<p>A few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and&nbsp;JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While&nbsp;Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.</p>\n<p>I’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.</p>\n<p>The business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.</p>\n<p>While the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.</p>\n<p><img src=\"https://static.tigerbbs.com/ed700f7a7812c0bf7b9b205ad99c33e7\" tg-width=\"872\" tg-height=\"769\" referrerpolicy=\"no-referrer\"></p>\n<p>I asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&amp;P information technology, as a percent of overall S&amp;P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”</p>\n<p>Right now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.</p>\n<p>Tech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&amp;P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&amp;P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).</p>\n<p>Tech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.</p>\n<p>On Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.</p>\n<p>By now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/963cb5c585db8df9615cd98e0bbd4bbc\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"><span>A room at the F8 Developers Conference in San Jose, Calif.</span></p>\n<p>Privacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.</p>\n<p>For now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.</p>\n<p>It’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”</p>","source":"lsy1601382232898","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>Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.</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\">\nWhich Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the ...</p>\n\n<a href=\"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WMT":"沃尔玛","V":"Visa","UNH":"联合健康","JPM":"摩根大通","AAPL":"苹果","BABA":"阿里巴巴","TSM":"台积电","NVDA":"英伟达","BRK.A":"伯克希尔","GOOGL":"谷歌A","AMZN":"亚马逊","TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177397700","content_text":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.\nNow that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.\nThere’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and Visa(V).\nWe’ve covered all of those stocks closely at Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review & Preview newsletter.\nA few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.\nI’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.\nThe business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.\nWhile the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.\n\nI asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&P information technology, as a percent of overall S&P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”\nRight now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.\nTech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).\nTech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.\nOn Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.\nBy now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.\nA room at the F8 Developers Conference in San Jose, Calif.\nPrivacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.\nFor now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.\nIt’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":93,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141869450,"gmtCreate":1625847474570,"gmtModify":1703749883383,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141869450","repostId":"1155625151","repostType":4,"repost":{"id":"1155625151","kind":"news","pubTimestamp":1625845018,"share":"https://ttm.financial/m/news/1155625151?lang=&edition=fundamental","pubTime":"2021-07-09 23:36","market":"us","language":"en","title":"Long-Term Prospects for Both Space Tourism and SPCE Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1155625151","media":"investorplace","summary":"Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged rough","content":"<p><b>Virgin Galactic</b>(NYSE:<b><u>SPCE</u></b>) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.</p>\n<p>Why is this happening?</p>\n<p>Virgin Galactic is booming becausethey’re sending Richard Branson into space on Sunday. This will be the first passenger spaceflight<i>ever</i>.</p>\n<p>This is a huge deal. Virgin has been saying it is going to fly people into space for over a decade. On Sunday, it’s going to make that long-term dream a reality. This moment, this coming weekend’s flight, is truly the culmination of 10-plus years of scientific work.</p>\n<p>And just to be clear. We very well could see a “sell the news” event on Monday. But we don’t think that will necessarily happen.</p>\n<p>Instead, we see this first commercial spaceflight as such a momentous accomplishment that it only serves to spark more buying power in SPCE stock.</p>\n<p>We’re looking for a price above $60 by next week.</p>\n<p>SPCE Stock Is a Long-Term Winner</p>\n<p>Our bullish outlook is also supported by a favorable long-term outlook on the company.</p>\n<p>We firmly believe that the space tourism industry will unlock significant economic value, and that Virgin Galactic will capitalize on this value.</p>\n<p>For one, demand for space travel will be enormous. There are a lot of rich people out there who are willing to spend next to anything for a novel experience. And flying to space is just about as novel an experience as you can find these days.</p>\n<p>Supply will be extremely limited, since only about two companies in the entire world will be able to offer commercial space tourism opportunities in the coming years.</p>\n<p>Big demand for space tourism and low supply means attractive unit economics, high margins and loads of profits.</p>\n<p>The long-term potential for space tourism is clearly here, and so is the long-term potential for Virgin Galactic.</p>","source":"lsy1606302653667","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>Long-Term Prospects for Both Space Tourism and SPCE Stock</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\">\nLong-Term Prospects for Both Space Tourism and SPCE Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.\nWhy is this happening?\n...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155625151","content_text":"Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.\nWhy is this happening?\nVirgin Galactic is booming becausethey’re sending Richard Branson into space on Sunday. This will be the first passenger spaceflightever.\nThis is a huge deal. Virgin has been saying it is going to fly people into space for over a decade. On Sunday, it’s going to make that long-term dream a reality. This moment, this coming weekend’s flight, is truly the culmination of 10-plus years of scientific work.\nAnd just to be clear. We very well could see a “sell the news” event on Monday. But we don’t think that will necessarily happen.\nInstead, we see this first commercial spaceflight as such a momentous accomplishment that it only serves to spark more buying power in SPCE stock.\nWe’re looking for a price above $60 by next week.\nSPCE Stock Is a Long-Term Winner\nOur bullish outlook is also supported by a favorable long-term outlook on the company.\nWe firmly believe that the space tourism industry will unlock significant economic value, and that Virgin Galactic will capitalize on this value.\nFor one, demand for space travel will be enormous. There are a lot of rich people out there who are willing to spend next to anything for a novel experience. And flying to space is just about as novel an experience as you can find these days.\nSupply will be extremely limited, since only about two companies in the entire world will be able to offer commercial space tourism opportunities in the coming years.\nBig demand for space tourism and low supply means attractive unit economics, high margins and loads of profits.\nThe long-term potential for space tourism is clearly here, and so is the long-term potential for Virgin Galactic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197589583,"gmtCreate":1621473491242,"gmtModify":1704358135289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"themes":[],"htmlText":"like and commnet","listText":"like and commnet","text":"like and commnet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/197589583","repostId":"1129952039","repostType":4,"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573389522852737","authorId":"3573389522852737","name":"LinHart","avatar":"https://static.tigerbbs.com/fbf1f25929c3988f5317075647c2ecad","crmLevel":3,"crmLevelSwitch":0,"idStr":"3573389522852737","authorIdStr":"3573389522852737"},"content":"Comment back plS","text":"Comment back plS","html":"Comment back plS"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":197589583,"gmtCreate":1621473491242,"gmtModify":1704358135289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and commnet","listText":"like and commnet","text":"like and commnet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/197589583","repostId":"1129952039","repostType":4,"repost":{"id":"1129952039","kind":"news","pubTimestamp":1621466041,"share":"https://ttm.financial/m/news/1129952039?lang=&edition=fundamental","pubTime":"2021-05-20 07:14","market":"us","language":"en","title":"U.S. stocks drop after Fed minutes, crypto fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1129952039","media":"Reuters","summary":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal","content":"<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.</p><p>The S&amp;P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.</p><p>“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.</p><p>Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.</p><p>All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.</p><p>The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&amp;P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.</p><p>Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.</p><p>Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.</p><p>The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.</p><p>Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/1160173685\" target=\"_blank\">4.5 Billion Parcels Expanded Market Share to 20.4%</a></p><p><a href=\"https://laohu8.com/NW/1178296022\" target=\"_blank\">KE Holdings EPS beats by $0.04, beats on revenue</a></p><p><a href=\"https://laohu8.com/NW/2136465859\" target=\"_blank\">Victoria's Secret parent L Brands swings to quarterly profit as sales rise</a></p><p><a href=\"https://laohu8.com/NW/2136594667\" target=\"_blank\">Cisco stock drops as higher costs amid chip shortage ding earnings outlook</a></p><p><a href=\"https://laohu8.com/NW/2136450339\" target=\"_blank\">Chip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks drop after Fed minutes, crypto fall</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\">\nU.S. stocks drop after Fed minutes, crypto fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 07:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y\">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",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129952039","content_text":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.The S&P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.Financial Report4.5 Billion Parcels Expanded Market Share to 20.4%KE Holdings EPS beats by $0.04, beats on revenueVictoria's Secret parent L Brands swings to quarterly profit as sales riseCisco stock drops as higher costs amid chip shortage ding earnings outlookChip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573389522852737","authorId":"3573389522852737","name":"LinHart","avatar":"https://static.tigerbbs.com/fbf1f25929c3988f5317075647c2ecad","crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3573389522852737","idStr":"3573389522852737"},"content":"Comment back plS","text":"Comment back plS","html":"Comment back plS"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102438857,"gmtCreate":1620229217379,"gmtModify":1704340551029,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/102438857","repostId":"1148686352","repostType":4,"repost":{"id":"1148686352","kind":"news","pubTimestamp":1620224535,"share":"https://ttm.financial/m/news/1148686352?lang=&edition=fundamental","pubTime":"2021-05-05 22:22","market":"us","language":"en","title":"This Day In Market History: Panic Of 1893 Crashes Stock Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1148686352","media":"benzinga","summary":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the ","content":"<p><b>What Happened?</b>On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.</p>\n<p><b>Where The Market Was:</b>The Dow finished the day at 30.02.</p>\n<p><b>What Else Was Going On In The World?</b>In 1893, Thomas Edison completed the world’s first movie studio in West Orange, New Jersey. Lizzie Borden was acquitted of the ax murders of her father and stepmother. A fresh, one-pound beef steak cost 10 cents.</p>\n<p><b>Panic Of 1893:</b>On May 5, 1893, the Dow Jones Index dropped more than 24% from 39.90 to 30.02. It would mark the worst intraday sell-off in U.S. history at the time, a record that would stand until 1929.</p>\n<p>The&nbsp;Panic of 1893&nbsp;was triggered in part by falling gold reserves in the U.S. Treasury. At the time, the U.S. was on the gold standard, meaning U.S. dollars could be redeemed for physical gold. When Treasury gold reserves dropped from $190 million in 1890 to $100 million by 1893, Americans grew concerned that the Treasury might run out of gold and began withdrawing bank notes and converting them to gold, placing extreme strain on the U.S. banking industry and credit markets.</p>\n<p>The May 5 sell-off was triggered in part by the bankruptcy of Nation Cordage the day before.<b>General Electric Company</b>GE 0.34%shares dropped 28% on the day from $80 to $58.</p>\n<p>Fortunately for investors, the Panic of 1893 didn’t last for long. By the end of the day, the market nearly completely recovered its losses. GE, for example, closed the session at $78.50.</p>\n<p>The Panic of 1893 would ravage the U.S. economy, triggering a severe four-year depression. Roughly 14,000 U.S. businesses closed, and unemployment rose to 20%. The event would mark the worst economic downturn in U.S. history until the Great Depression began in 1929.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Day In Market History: Panic Of 1893 Crashes Stock Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Day In Market History: Panic Of 1893 Crashes Stock Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In...</p>\n\n<a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148686352","content_text":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In 1893, Thomas Edison completed the world’s first movie studio in West Orange, New Jersey. Lizzie Borden was acquitted of the ax murders of her father and stepmother. A fresh, one-pound beef steak cost 10 cents.\nPanic Of 1893:On May 5, 1893, the Dow Jones Index dropped more than 24% from 39.90 to 30.02. It would mark the worst intraday sell-off in U.S. history at the time, a record that would stand until 1929.\nThe Panic of 1893 was triggered in part by falling gold reserves in the U.S. Treasury. At the time, the U.S. was on the gold standard, meaning U.S. dollars could be redeemed for physical gold. When Treasury gold reserves dropped from $190 million in 1890 to $100 million by 1893, Americans grew concerned that the Treasury might run out of gold and began withdrawing bank notes and converting them to gold, placing extreme strain on the U.S. banking industry and credit markets.\nThe May 5 sell-off was triggered in part by the bankruptcy of Nation Cordage the day before.General Electric CompanyGE 0.34%shares dropped 28% on the day from $80 to $58.\nFortunately for investors, the Panic of 1893 didn’t last for long. By the end of the day, the market nearly completely recovered its losses. GE, for example, closed the session at $78.50.\nThe Panic of 1893 would ravage the U.S. economy, triggering a severe four-year depression. Roughly 14,000 U.S. businesses closed, and unemployment rose to 20%. The event would mark the worst economic downturn in U.S. history until the Great Depression began in 1929.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574980150965538","authorId":"3574980150965538","name":"真的钻石手","avatar":"https://static.tigerbbs.com/394063a289e727c8c5c2734207c9aabd","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3574980150965538","idStr":"3574980150965538"},"content":"Help like this reply","text":"Help like this reply","html":"Help like this reply"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194754990,"gmtCreate":1621404126010,"gmtModify":1704357082733,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/194754990","repostId":"2136999458","repostType":4,"repost":{"id":"2136999458","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1621372003,"share":"https://ttm.financial/m/news/2136999458?lang=&edition=fundamental","pubTime":"2021-05-19 05:06","market":"us","language":"en","title":"Wall Street closes lower on weak telecom stocks despite strong retail earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2136999458","media":"Reuters","summary":"May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks ","content":"<p>May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.</p><p>AT&amp;T Inc&nbsp;shed 5.8%, among the biggest percentage decliners in the benchmark S&amp;P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .</p><p>T-Mobile&nbsp;and Verizon Communications    also dropped 3.71% and 1.31%.</p><p>Eight of 11 major S&amp;P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.</p><p>The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.</p><p>\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"</p><p>Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.</p><p>Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.</p><p>Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.</p><p>\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"</p><p>Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.</p><p>The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&amp;P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.</p><p>Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/2136994595\" target=\"_blank\">Take-Two stock rises following earnings beat</a></p><p><a href=\"https://laohu8.com/NW/2136994482\" target=\"_blank\">Trip.com rises 6% as first quarter brings surprise profit, revenue turnaround</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes lower on weak telecom stocks despite strong retail 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\">\nWall Street closes lower on weak telecom stocks despite strong retail 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\">2021-05-19 05:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.</p><p>AT&amp;T Inc&nbsp;shed 5.8%, among the biggest percentage decliners in the benchmark S&amp;P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .</p><p>T-Mobile&nbsp;and Verizon Communications    also dropped 3.71% and 1.31%.</p><p>Eight of 11 major S&amp;P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.</p><p>The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.</p><p>\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"</p><p>Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.</p><p>Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.</p><p>Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.</p><p>\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"</p><p>Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.</p><p>The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&amp;P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.</p><p>Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.</p><p>Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/2136994595\" target=\"_blank\">Take-Two stock rises following earnings beat</a></p><p><a href=\"https://laohu8.com/NW/2136994482\" target=\"_blank\">Trip.com rises 6% as first quarter brings surprise profit, revenue turnaround</a></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136999458","content_text":"May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot.AT&T Inc shed 5.8%, among the biggest percentage decliners in the benchmark S&P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc   .T-Mobile and Verizon Communications    also dropped 3.71% and 1.31%.Eight of 11 major S&P sectors ended the session in the red,  with Energy    and Industrials    having largest percentage decline, according to Refinitiv data. Utilities were basically flat.The three main indexes opened higher after Walmart, the world's biggest retailer   , raised its full-year earnings forecast and Home Depot    reported quarterly same-store sales above estimates.\"Those are both emblematic of strength in the corporate sector and also of the consumer. I mean, you can't have Walmart and Home Depot have blowout earnings without the consumer really stepping up spending stimulus checks, adopting ecommerce, as well as getting back into stores\", said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. \"And a lot of the bull thesis for the market right now is still built on a really strong reopening of the economy.\"Despite its strong results, Home Depot's shares went down 1.02%, under pressure due to the lack of a solid outlook and the housing data.Latest data showed U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.Minutes from the Fed's April policy meeting will be parsed on Wednesday for the central bank's view of the economy.\"The market is bracing for a transition,\" said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. \"So there's a little bit of de-risking going on.\"Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.The Dow Jones Industrial Average    fell 267.13 points, or 0.78%, to 34,060.66, the S&P 500    lost 35.46 points, or 0.85%, to 4,127.83 and the Nasdaq Composite    dropped 75.41 points, or 0.56%, to 13,303.64.Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.Volume on U.S. exchanges was 10.01 billion shares, compared with the 10.48 billion average for the full session over the last 20 trading days.Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.The S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 50 new lows.Financial ReportTake-Two stock rises following earnings beatTrip.com rises 6% as first quarter brings surprise profit, revenue turnaround","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198545624,"gmtCreate":1620974681168,"gmtModify":1704351397930,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/198545624","repostId":"2135945620","repostType":4,"repost":{"id":"2135945620","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1620936034,"share":"https://ttm.financial/m/news/2135945620?lang=&edition=fundamental","pubTime":"2021-05-14 04:00","market":"us","language":"en","title":"Wall Street closes higher in 'buy the dip' session","url":"https://stock-news.laohu8.com/highlight/detail?id=2135945620","media":"Reuters","summary":"NEW YORK, May 13  - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying th","content":"<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes higher in 'buy the dip' session</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 higher in 'buy the dip' session\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-14 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135945620","content_text":"NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Meanwhile, cyclical shares enjoyed the biggest gains.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.This was evidenced by the outperformance of small caps, chips and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.Of the 11 major sectors in the S&P 500, 10 ended green, with industrials enjoying the largest percentage gain.Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.Financial Report：Disney+ subscriber growth is slowing like Netflix's — with one worrisome differenceCoinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 WeeksAirbnb bookings jump 52% as vaccinations spur vacation rental demandDoorDash triples gross order volume and nearly triples revenue in first quarterAurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cutsFarfetch’s First-quarter Sales Run Up 46.4 PercentLuminar stock dips after mixed Q1 report with wider than exp","news_type":1},"isVote":1,"tweetType":1,"viewCount":110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144132447,"gmtCreate":1626271186489,"gmtModify":1703756800598,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144132447","repostId":"1156462382","repostType":4,"repost":{"id":"1156462382","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626270302,"share":"https://ttm.financial/m/news/1156462382?lang=&edition=fundamental","pubTime":"2021-07-14 21:45","market":"us","language":"en","title":"Compass Minerals shares rises 17% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1156462382","media":"Tiger Newspress","summary":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it ","content":"<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Compass Minerals shares rises 17% in early trading</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\">\nCompass Minerals shares rises 17% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-14 21:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.</p>\n<p><img src=\"https://static.tigerbbs.com/91984098c8c865b53eed65937700dad5\" tg-width=\"1273\" tg-height=\"587\" referrerpolicy=\"no-referrer\"></p>\n<p>The announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.</p>\n<p>The company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.</p>\n<p>A large part of lithium is extracted from brine or seawater.</p>\n<p>Electric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.</p>\n<p>The company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.</p>\n<p>Compass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.</p>\n<p>The company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CMP":"罗盘矿物"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156462382","content_text":"Compass Minerals’ shares rises 17% in early trading on Wednesday after the mineral producer said it had found about 2.4 million metric tons of lithium carbonate equivalent (LCE) at its solar evaporation site in Utah.\n\nThe announcement, released after market hours on Tuesday, comes as demand and prices for the battery metal has climbed due to aggressive electric vehicle production plans by automakers.\nThe company, which produces salt, plant nutrients and magnesium chloride, said it had identified an indicated lithium resource within the ambient brine of the Great Salt Lake.\nA large part of lithium is extracted from brine or seawater.\nElectric vehicle batteries can use lithium carbonate or lithium hydroxide, but the industry typically uses lithium carbonate equivalent (LCE) which contains both.\nThe company said it was evaluating the means of extracting the lithium, which accumulates through its current solar evaporation process and can be accessed through its existing leases and permits, adding that it was in late-stage talks to select a direct lithium extraction technology provider.\nCompass said an initial assessment estimated total combined indicated and inferred lithium resources of about 127,000 metric tons of LCE at its active Ogden site. The assessment also identified an additional indicated lithium resource of about 2.32 million metric tons of LCE.\nThe company said it was targeting an annual production capacity in the range of about 20,000 to 25,000 metric tons of LCE, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142008227,"gmtCreate":1626101851669,"gmtModify":1703753500732,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/142008227","repostId":"1157757312","repostType":4,"repost":{"id":"1157757312","kind":"news","pubTimestamp":1626101712,"share":"https://ttm.financial/m/news/1157757312?lang=&edition=fundamental","pubTime":"2021-07-12 22:55","market":"us","language":"en","title":"Goldman says bet on these stocks with expanding profitability into earnings season","url":"https://stock-news.laohu8.com/highlight/detail?id=1157757312","media":"CNBC","summary":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on compan","content":"<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman says bet on these stocks with expanding profitability into earnings season</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\">\nGoldman says bet on these stocks with expanding profitability into earnings season\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 22:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FCX":"麦克莫兰铜金","NEM":"纽曼矿业"},"source_url":"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1157757312","content_text":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\nOn the surface, this is slated to be a stellar earnings season with profits for S&P 500 companies expected to jump 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. However, Goldman noted that the median stock is only forecast to grow earnings by 24%, and many companies are expected to feel the pain from higher inflation.\n“Global shipping woes, raw material inflation as well as acute shortages in both labor and semiconductors have combined to increase costs for companies across the economy,” David Kostin, Goldman’s head of U.S. equity strategy, said in a note.\nThe S&P 500 has climbed to multiple records with a 16% rally in 2021, shaking off fears that the economic recovery might be slowing down and that the Federal Reserve might start tightening ultra-easy monetary policy. Many on Wall Street believe the second half of the year will be much choppier and investors should take a more selective approach.\nIn this inflationary environment, companies with the highest profit margins have started to outperform, according to Goldman.\n“Investors have started to reward companies with attractive margin profiles,” Kostin said. “Our valuation model shows than profit margins are the second most important driver of company valuations today, behind only equity duration.”\n\nTo identify stocks with expanding profitability, Goldman screened S&P 500 companies with above-average net margins, realized margin growth of 50 basis points or more in 2020, and expected margin growth of 50 basis points for more in each of the next two years.\nThe median stock in the basket has a net margin of 26% in 2021, versus 13% for a typical S&P 500 stock. Meanwhile, the median stock in the screen is also expected to grow margins by 306 basis points through 2022, compared to 156 basis points for the median S&P 500 stock.\nThe list features a slew of semiconductor companies includingTexas Instruments,Broadcom,Analog DevicesandMicrochip Technology. Many chip companies are benefiting from surging demand among smartphone makers, auto companies and gaming firms amid a global shortage.\nMining companies Newmont Corp.and Freeport-McMoRan were also highlighted by Goldman, as well as railroad company Union Pacific.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178921110,"gmtCreate":1626783546830,"gmtModify":1703765076652,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178921110","repostId":"1168215370","repostType":4,"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170789201,"gmtCreate":1626451187003,"gmtModify":1703760531035,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170789201","repostId":"2151742215","repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"什么信号？为了对冲下行风险，美股空头头寸创三年新高","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。</p>\n<p>然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。</p>\n<p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>由此，<b>标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。</b></p>\n<p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p>\n<p>简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。</p>\n<p>对此，<a href=\"https://laohu8.com/S/03329\">交银国际</a>首席策略师兼研究部主管洪灏也发出了调侃的声音：</p>\n<p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p>\n<p>一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，<b>令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。</b></p>\n<blockquote>\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n</blockquote>\n<p>目前，这一隐含相关性已经开始从接近历史低点的水平回升：</p>\n<p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>\n<p>与此同时，<b>近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。</b></p>\n<p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p>\n<p>对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？</p>","source":"wallstreetcn_api","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>什么信号？为了对冲下行风险，美股空头头寸创三年新高</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; 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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\">\n什么信号？为了对冲下行风险，美股空头头寸创三年新高\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:20 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635582><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635582\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","OEX":"标普100","DOG":"道指反向ETF","SDS":"两倍做空标普500ETF","SDOW":"道指三倍做空ETF-ProShares","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","QLD":"纳指两倍做多ETF","PSQ":"纳指反向ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","DDM":"道指两倍做多ETF",".DJI":"道琼斯","TQQQ":"纳指三倍做多ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141869450,"gmtCreate":1625847474570,"gmtModify":1703749883383,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141869450","repostId":"1155625151","repostType":4,"repost":{"id":"1155625151","kind":"news","pubTimestamp":1625845018,"share":"https://ttm.financial/m/news/1155625151?lang=&edition=fundamental","pubTime":"2021-07-09 23:36","market":"us","language":"en","title":"Long-Term Prospects for Both Space Tourism and SPCE Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1155625151","media":"investorplace","summary":"Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged rough","content":"<p><b>Virgin Galactic</b>(NYSE:<b><u>SPCE</u></b>) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.</p>\n<p>Why is this happening?</p>\n<p>Virgin Galactic is booming becausethey’re sending Richard Branson into space on Sunday. This will be the first passenger spaceflight<i>ever</i>.</p>\n<p>This is a huge deal. Virgin has been saying it is going to fly people into space for over a decade. On Sunday, it’s going to make that long-term dream a reality. This moment, this coming weekend’s flight, is truly the culmination of 10-plus years of scientific work.</p>\n<p>And just to be clear. We very well could see a “sell the news” event on Monday. But we don’t think that will necessarily happen.</p>\n<p>Instead, we see this first commercial spaceflight as such a momentous accomplishment that it only serves to spark more buying power in SPCE stock.</p>\n<p>We’re looking for a price above $60 by next week.</p>\n<p>SPCE Stock Is a Long-Term Winner</p>\n<p>Our bullish outlook is also supported by a favorable long-term outlook on the company.</p>\n<p>We firmly believe that the space tourism industry will unlock significant economic value, and that Virgin Galactic will capitalize on this value.</p>\n<p>For one, demand for space travel will be enormous. There are a lot of rich people out there who are willing to spend next to anything for a novel experience. And flying to space is just about as novel an experience as you can find these days.</p>\n<p>Supply will be extremely limited, since only about two companies in the entire world will be able to offer commercial space tourism opportunities in the coming years.</p>\n<p>Big demand for space tourism and low supply means attractive unit economics, high margins and loads of profits.</p>\n<p>The long-term potential for space tourism is clearly here, and so is the long-term potential for Virgin Galactic.</p>","source":"lsy1606302653667","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>Long-Term Prospects for Both Space Tourism and SPCE Stock</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\">\nLong-Term Prospects for Both Space Tourism and SPCE Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.\nWhy is this happening?\n...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://investorplace.com/hypergrowthinvesting/2021/07/long-term-prospects-for-both-space-tourism-and-spce-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155625151","content_text":"Virgin Galactic(NYSE:SPCE) stock bucked the broader market selloff today, as SPCE stock surged roughly 20% on a day when most of Wall Street bled red. That’s quite impressive.\nWhy is this happening?\nVirgin Galactic is booming becausethey’re sending Richard Branson into space on Sunday. This will be the first passenger spaceflightever.\nThis is a huge deal. Virgin has been saying it is going to fly people into space for over a decade. On Sunday, it’s going to make that long-term dream a reality. This moment, this coming weekend’s flight, is truly the culmination of 10-plus years of scientific work.\nAnd just to be clear. We very well could see a “sell the news” event on Monday. But we don’t think that will necessarily happen.\nInstead, we see this first commercial spaceflight as such a momentous accomplishment that it only serves to spark more buying power in SPCE stock.\nWe’re looking for a price above $60 by next week.\nSPCE Stock Is a Long-Term Winner\nOur bullish outlook is also supported by a favorable long-term outlook on the company.\nWe firmly believe that the space tourism industry will unlock significant economic value, and that Virgin Galactic will capitalize on this value.\nFor one, demand for space travel will be enormous. There are a lot of rich people out there who are willing to spend next to anything for a novel experience. And flying to space is just about as novel an experience as you can find these days.\nSupply will be extremely limited, since only about two companies in the entire world will be able to offer commercial space tourism opportunities in the coming years.\nBig demand for space tourism and low supply means attractive unit economics, high margins and loads of profits.\nThe long-term potential for space tourism is clearly here, and so is the long-term potential for Virgin Galactic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190085530,"gmtCreate":1620553547520,"gmtModify":1704344926089,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190085530","repostId":"1106882084","repostType":4,"repost":{"id":"1106882084","kind":"news","pubTimestamp":1620451121,"share":"https://ttm.financial/m/news/1106882084?lang=&edition=fundamental","pubTime":"2021-05-08 13:18","market":"us","language":"en","title":"US IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1106882084","media":"renaissancecap...","summary":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings.The largest deal of the week,Enact Holdings plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.Cros","content":"<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance company<b>Enact Holdings</b>(ACT).</p>\n<p>The largest deal of the week,<b>Enact Holdings</b>(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.</p>\n<p>Cross-border e-commerce platform<b>Global-E Online</b>(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.</p>\n<p>Hearing care services provider<b>hear.com</b>(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.</p>\n<p>Brazilian customer experience platform<b>Zenvia</b>(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.</p>\n<p>Israeli web analytics provider<b>Similarweb</b>(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.</p>\n<p>Online hydroponic equipment supplier<b>iPower</b>(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.</p>\n<p>Canadian cannabis products developer<b>Flora Growth</b>(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.</p>\n<p><img src=\"https://static.tigerbbs.com/57e90b667064a33ea39693340582c44c\" tg-width=\"1064\" tg-height=\"646\"></p>","source":"lsy1619493174116","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 IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO 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\">\nUS IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106882084","content_text":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.\nCross-border e-commerce platformGlobal-E Online(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.\nHearing care services providerhear.com(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.\nBrazilian customer experience platformZenvia(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.\nIsraeli web analytics providerSimilarweb(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.\nOnline hydroponic equipment supplieriPower(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.\nCanadian cannabis products developerFlora Growth(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.","news_type":1},"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142002037,"gmtCreate":1626101902729,"gmtModify":1703753502712,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"comment","listText":"comment","text":"comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/142002037","repostId":"1157757312","repostType":4,"repost":{"id":"1157757312","kind":"news","pubTimestamp":1626101712,"share":"https://ttm.financial/m/news/1157757312?lang=&edition=fundamental","pubTime":"2021-07-12 22:55","market":"us","language":"en","title":"Goldman says bet on these stocks with expanding profitability into earnings season","url":"https://stock-news.laohu8.com/highlight/detail?id=1157757312","media":"CNBC","summary":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on compan","content":"<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman says bet on these stocks with expanding profitability into earnings season</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\">\nGoldman says bet on these stocks with expanding profitability into earnings season\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 22:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\n...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FCX":"麦克莫兰铜金","NEM":"纽曼矿业"},"source_url":"https://www.cnbc.com/2021/07/12/stocks-to-buy-goldman-says-bet-on-these-stocks-with-rising-profitability.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1157757312","content_text":"As the second-quarter earnings season kicks off, Goldman Sachs says investors should focus on companies that have been able to defend profits by raising prices and passing higher costs to customers.\nOn the surface, this is slated to be a stellar earnings season with profits for S&P 500 companies expected to jump 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. However, Goldman noted that the median stock is only forecast to grow earnings by 24%, and many companies are expected to feel the pain from higher inflation.\n“Global shipping woes, raw material inflation as well as acute shortages in both labor and semiconductors have combined to increase costs for companies across the economy,” David Kostin, Goldman’s head of U.S. equity strategy, said in a note.\nThe S&P 500 has climbed to multiple records with a 16% rally in 2021, shaking off fears that the economic recovery might be slowing down and that the Federal Reserve might start tightening ultra-easy monetary policy. Many on Wall Street believe the second half of the year will be much choppier and investors should take a more selective approach.\nIn this inflationary environment, companies with the highest profit margins have started to outperform, according to Goldman.\n“Investors have started to reward companies with attractive margin profiles,” Kostin said. “Our valuation model shows than profit margins are the second most important driver of company valuations today, behind only equity duration.”\n\nTo identify stocks with expanding profitability, Goldman screened S&P 500 companies with above-average net margins, realized margin growth of 50 basis points or more in 2020, and expected margin growth of 50 basis points for more in each of the next two years.\nThe median stock in the basket has a net margin of 26% in 2021, versus 13% for a typical S&P 500 stock. Meanwhile, the median stock in the screen is also expected to grow margins by 306 basis points through 2022, compared to 156 basis points for the median S&P 500 stock.\nThe list features a slew of semiconductor companies includingTexas Instruments,Broadcom,Analog DevicesandMicrochip Technology. Many chip companies are benefiting from surging demand among smartphone makers, auto companies and gaming firms amid a global shortage.\nMining companies Newmont Corp.and Freeport-McMoRan were also highlighted by Goldman, as well as railroad company Union Pacific.","news_type":1},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105326607,"gmtCreate":1620271819009,"gmtModify":1704341141420,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105326607","repostId":"1150873978","repostType":4,"repost":{"id":"1150873978","kind":"news","pubTimestamp":1620269238,"share":"https://ttm.financial/m/news/1150873978?lang=&edition=fundamental","pubTime":"2021-05-06 10:47","market":"us","language":"en","title":"2 Stocks to Buy With Dividends Yielding More Than 5%","url":"https://stock-news.laohu8.com/highlight/detail?id=1150873978","media":"The motley fool","summary":"A company paying high dividend yields can be great, but they're also sometimes a sign that the stock","content":"<p>A company paying high dividend yields can be great, but they're also sometimes a sign that the stock wouldn't otherwise be able to attract investors and that the underlying business is on the decline. So income investors have to be selective when they're seeking high-yield income plays.</p>\n<p>It's still possible to score long-term dividend winners, but you have to be careful.</p>\n<p>With the<b>S&amp;P 500</b>and other major indexes still trading near record highs and some economic uncertainty on the horizon, now could be a good time to fortify your portfolio with some high-quality dividend stocks. Read on for a look at two stocks with yields significantly above 5% that look like strong buys right now.</p>\n<p>1. AT&amp;T: Currently yielding 6.6%</p>\n<p><b>AT&amp;T</b>(NYSE:T)trades at roughly 10 times this year's expected earnings and pays a dividend that yields 6.6%. The big yield is partly the result of weak stock performance, with its share price having fallen roughly 19% over the last five years while the<b>Nasdaq Composite</b>index rose 192% across the same stretch, and there's admittedly some uncertainty surrounding the company's outlook.</p>\n<p>The DIRECTV satellite television business that the company acquired for $67 billion in 2015 is being spun off into a separate subsidiary, and will likely continue to lose subscribers as cord-cutting reshapes the pay-TV landscape. The telecom's $104 billion acquisition of Time Warner in 2018 looks much more promising, but was still costly.</p>\n<p>The company ended last quarter with roughly $169 billion in debt on its books after making a big investment in spectrum band for its 5G network. The debt level and competitive state of the telecommunications industry means that investors have to consider some risk factors, but AT&amp;T generates enough free cash flow to keep the dividend sustainable, and the business could outperform expectations.</p>\n<p>The company operates the country's second-largest mobile wireless network, and it stands a good chance of benefiting from the rollout of next-generation communications services. The 5G revolution is still in its very early stages, and high-performance networks will enable new applications that boost demand for AT&amp;T's consumer and enterprise wireless services.</p>\n<p>AT&amp;T's potential to be a leading player in streaming also seems to be underappreciated. The company's HBO Max got off to a slow start, but the Warner entertainment business has been in operation for nearly a century, and it has a fantastic content library to leverage and great franchises and production teams to create new hits.</p>\n<p>AT&amp;T has 34 years of consecutive annual dividend payout growth, and it has until the end of this year to deliver another payout increase in order to retain its Dividend Aristocrat status. Management has stated that it's at the very least committed to sustaining the currentdividend, and it wouldn't be surprising to see another small payout hike. AT&amp;T looks cheaply valued, and it's generating plenty offree cash flowto keep checks flowing back to shareholders while still paying down its debt.</p>\n<p>2. <a href=\"https://laohu8.com/S/LUMN\">Lumen Technologies</a>: Currently yielding 7.8%</p>\n<p><b>Lumen Technologies</b>(NYSE:LUMN), which was known as CenturyLink prior to a name change last year, is another telecommunications stock that has struggled in recent years and pays a big dividend yield. The company is valued at approximately eight times this year's expected earnings, and its payout yields 7.8%.</p>\n<p>Declines for the company's legacy internet and landline services have prompted it to invest in high-performance fiber-optic networks. Lumen is also expanding in categories including application platform, edge-computing, and content-delivery network services.</p>\n<p>It has made big infrastructure investments in order to aid its turnaround initiative, and that's added to the company's sizable debt load. But the business is generating strong cash flow, and there's a chance that margins could significantly improve as the company continues its pivot to fiber and enterprise services.</p>\n<p>The telecom reduced its debt by $1.6 billion last year and refinanced $13 billion in long-term debt in ways that further reduce interest expense, extending maturities and strengthening the balance sheet. The cheap lending environment created by Fed policy in response to the pandemic made it easier for Lumen to refinance much of its debt on more favorable terms, and the company has also been making significant progress with cost savings.</p>\n<p>Lumen is incurring some significant expenses as part of its transformation effort, but most of these should be <a href=\"https://laohu8.com/S/AONE\">one</a>-time charges. And the company had roughly $3.13 billion in free cash flow last year, enough to cover its forward dividend payout more than twice over. There are signs that the company's growth bets and restructuring initiatives are beginning to bear fruit, and the stock looks like a worthwhile play for investors seeking a big yield in the telecom space.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Stocks to Buy With Dividends Yielding More Than 5%</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\">\n2 Stocks to Buy With Dividends Yielding More Than 5%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-06 10:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/2-stocks-buy-with-dividend-yielding-5-percent/><strong>The motley fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A company paying high dividend yields can be great, but they're also sometimes a sign that the stock wouldn't otherwise be able to attract investors and that the underlying business is on the decline....</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/2-stocks-buy-with-dividend-yielding-5-percent/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"T":"美国电话电报","LUMN":"Lumen Technologies"},"source_url":"https://www.fool.com/investing/2021/05/05/2-stocks-buy-with-dividend-yielding-5-percent/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150873978","content_text":"A company paying high dividend yields can be great, but they're also sometimes a sign that the stock wouldn't otherwise be able to attract investors and that the underlying business is on the decline. So income investors have to be selective when they're seeking high-yield income plays.\nIt's still possible to score long-term dividend winners, but you have to be careful.\nWith theS&P 500and other major indexes still trading near record highs and some economic uncertainty on the horizon, now could be a good time to fortify your portfolio with some high-quality dividend stocks. Read on for a look at two stocks with yields significantly above 5% that look like strong buys right now.\n1. AT&T: Currently yielding 6.6%\nAT&T(NYSE:T)trades at roughly 10 times this year's expected earnings and pays a dividend that yields 6.6%. The big yield is partly the result of weak stock performance, with its share price having fallen roughly 19% over the last five years while theNasdaq Compositeindex rose 192% across the same stretch, and there's admittedly some uncertainty surrounding the company's outlook.\nThe DIRECTV satellite television business that the company acquired for $67 billion in 2015 is being spun off into a separate subsidiary, and will likely continue to lose subscribers as cord-cutting reshapes the pay-TV landscape. The telecom's $104 billion acquisition of Time Warner in 2018 looks much more promising, but was still costly.\nThe company ended last quarter with roughly $169 billion in debt on its books after making a big investment in spectrum band for its 5G network. The debt level and competitive state of the telecommunications industry means that investors have to consider some risk factors, but AT&T generates enough free cash flow to keep the dividend sustainable, and the business could outperform expectations.\nThe company operates the country's second-largest mobile wireless network, and it stands a good chance of benefiting from the rollout of next-generation communications services. The 5G revolution is still in its very early stages, and high-performance networks will enable new applications that boost demand for AT&T's consumer and enterprise wireless services.\nAT&T's potential to be a leading player in streaming also seems to be underappreciated. The company's HBO Max got off to a slow start, but the Warner entertainment business has been in operation for nearly a century, and it has a fantastic content library to leverage and great franchises and production teams to create new hits.\nAT&T has 34 years of consecutive annual dividend payout growth, and it has until the end of this year to deliver another payout increase in order to retain its Dividend Aristocrat status. Management has stated that it's at the very least committed to sustaining the currentdividend, and it wouldn't be surprising to see another small payout hike. AT&T looks cheaply valued, and it's generating plenty offree cash flowto keep checks flowing back to shareholders while still paying down its debt.\n2. Lumen Technologies: Currently yielding 7.8%\nLumen Technologies(NYSE:LUMN), which was known as CenturyLink prior to a name change last year, is another telecommunications stock that has struggled in recent years and pays a big dividend yield. The company is valued at approximately eight times this year's expected earnings, and its payout yields 7.8%.\nDeclines for the company's legacy internet and landline services have prompted it to invest in high-performance fiber-optic networks. Lumen is also expanding in categories including application platform, edge-computing, and content-delivery network services.\nIt has made big infrastructure investments in order to aid its turnaround initiative, and that's added to the company's sizable debt load. But the business is generating strong cash flow, and there's a chance that margins could significantly improve as the company continues its pivot to fiber and enterprise services.\nThe telecom reduced its debt by $1.6 billion last year and refinanced $13 billion in long-term debt in ways that further reduce interest expense, extending maturities and strengthening the balance sheet. The cheap lending environment created by Fed policy in response to the pandemic made it easier for Lumen to refinance much of its debt on more favorable terms, and the company has also been making significant progress with cost savings.\nLumen is incurring some significant expenses as part of its transformation effort, but most of these should be one-time charges. And the company had roughly $3.13 billion in free cash flow last year, enough to cover its forward dividend payout more than twice over. There are signs that the company's growth bets and restructuring initiatives are beginning to bear fruit, and the stock looks like a worthwhile play for investors seeking a big yield in the telecom space.","news_type":1},"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174686621,"gmtCreate":1627095192063,"gmtModify":1703484169289,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174686621","repostId":"1170350340","repostType":4,"repost":{"id":"1170350340","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092098,"share":"https://ttm.financial/m/news/1170350340?lang=&edition=fundamental","pubTime":"2021-07-24 10:01","market":"us","language":"zh","title":"遭行政处罚！腾讯被责令解除网络音乐独家版权","url":"https://stock-news.laohu8.com/highlight/detail?id=1170350340","media":"老虎资讯综合","summary":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。","content":"<p>腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。</p>\n<blockquote>\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n</blockquote>\n<p>2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。</p>\n<p>市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。</p>\n<p>调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。</p>\n<p>根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。</p>\n<p>本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。</p>\n<p>以下为处罚书全文:</p>\n<p>国家市场监督管理总局</p>\n<p>行政处罚决定书</p>\n<p>国市监处〔2021〕67号</p>\n<p>当事人：腾讯控股有限公司</p>\n<p>住&nbsp;所：开曼群岛哈金斯大道克里奇广场</p>\n<p>根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。</p>\n<p>经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。</p>\n<ul>\n <li>基本情况</li>\n</ul>\n<p><b>（一）交易方。</b></p>\n<p><b>收购方：腾讯。</b>1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。</p>\n<p><b>被收购方：中国音乐集团。</b>2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。</p>\n<p><b>（二）交易概况。</b></p>\n<p>2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。</p>\n<p>二、违法事实及理由</p>\n<p><b>（一）本案构成违法实施的经营者集中。</b></p>\n<p>《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。</p>\n<p>腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。</p>\n<p>《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。</p>\n<p>以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。</p>\n<p><b>（二）本案具有或者可能具有排除、限制竞争的效果。</b></p>\n<p>根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。<b>网络音乐播放平台市场</b>是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。</p>\n<p>经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：</p>\n<ol>\n <li><b>集中后实体在相关市场具有较高市场份额。</b></li>\n</ol>\n<p>2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。</p>\n<p>从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。</p>\n<ol>\n <li><b>集中减少相关市场主要竞争对手。</b></li>\n</ol>\n<p>调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。</p>\n<ol>\n <li><b>集中可能进一步提高相关市场进入壁垒。</b></li>\n</ol>\n<p><b>一是可能提高版权资源壁垒。</b>在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。</p>\n<p><b>二是可能增加用户转换成本。</b>集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。</p>\n<p><b>三是集中后市场进入活跃度不高。</b>数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。</p>\n<p>综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。</p>\n<p>调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。</p>\n<p>以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。</p>\n<p>三、行政处罚依据和决定</p>\n<p>《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。</p>\n<p>根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：</p>\n<p><b>（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：</b></p>\n<p>1.&nbsp;不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。</p>\n<p>2.&nbsp;没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。</p>\n<p>3.&nbsp;依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。</p>\n<p><b>（二）处以50万元罚款。</b></p>\n<p><b>（三）依法申报经营者集中。</b></p>\n<p>1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。</p>\n<p><b>（四）依法合规经营，建立健全公平参与市场竞争的长效机制。</b></p>\n<p>1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。</p>\n<p>2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。</p>\n<p>3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。</p>\n<p>4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。</p>\n<p>5.积极维护公平竞争，推动行业创新发展。</p>\n<p>以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。</p>\n<p>《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。</p>\n<p>当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。</p>\n<p>当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。</p>\n<p>市场监管总局</p>\n<p>2021年7月24日<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>遭行政处罚！腾讯被责令解除网络音乐独家版权</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{ 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}\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\">\n遭行政处罚！腾讯被责令解除网络音乐独家版权\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-24 10:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。</p>\n<blockquote>\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n</blockquote>\n<p>2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。</p>\n<p>市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。</p>\n<p>调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。</p>\n<p>根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。</p>\n<p>本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。</p>\n<p>以下为处罚书全文:</p>\n<p>国家市场监督管理总局</p>\n<p>行政处罚决定书</p>\n<p>国市监处〔2021〕67号</p>\n<p>当事人：腾讯控股有限公司</p>\n<p>住&nbsp;所：开曼群岛哈金斯大道克里奇广场</p>\n<p>根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。</p>\n<p>经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。</p>\n<ul>\n <li>基本情况</li>\n</ul>\n<p><b>（一）交易方。</b></p>\n<p><b>收购方：腾讯。</b>1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。</p>\n<p><b>被收购方：中国音乐集团。</b>2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。</p>\n<p><b>（二）交易概况。</b></p>\n<p>2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。</p>\n<p>二、违法事实及理由</p>\n<p><b>（一）本案构成违法实施的经营者集中。</b></p>\n<p>《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。</p>\n<p>腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。</p>\n<p>《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。</p>\n<p>以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。</p>\n<p><b>（二）本案具有或者可能具有排除、限制竞争的效果。</b></p>\n<p>根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。<b>网络音乐播放平台市场</b>是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。</p>\n<p>经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：</p>\n<ol>\n <li><b>集中后实体在相关市场具有较高市场份额。</b></li>\n</ol>\n<p>2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。</p>\n<p>从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。</p>\n<ol>\n <li><b>集中减少相关市场主要竞争对手。</b></li>\n</ol>\n<p>调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。</p>\n<ol>\n <li><b>集中可能进一步提高相关市场进入壁垒。</b></li>\n</ol>\n<p><b>一是可能提高版权资源壁垒。</b>在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。</p>\n<p><b>二是可能增加用户转换成本。</b>集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。</p>\n<p><b>三是集中后市场进入活跃度不高。</b>数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。</p>\n<p>综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。</p>\n<p>调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。</p>\n<p>以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。</p>\n<p>三、行政处罚依据和决定</p>\n<p>《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。</p>\n<p>根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：</p>\n<p><b>（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：</b></p>\n<p>1.&nbsp;不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。</p>\n<p>2.&nbsp;没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。</p>\n<p>3.&nbsp;依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。</p>\n<p><b>（二）处以50万元罚款。</b></p>\n<p><b>（三）依法申报经营者集中。</b></p>\n<p>1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。</p>\n<p>3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。</p>\n<p><b>（四）依法合规经营，建立健全公平参与市场竞争的长效机制。</b></p>\n<p>1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。</p>\n<p>2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。</p>\n<p>3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。</p>\n<p>4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。</p>\n<p>5.积极维护公平竞争，推动行业创新发展。</p>\n<p>以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。</p>\n<p>《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。</p>\n<p>当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。</p>\n<p>当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。</p>\n<p>市场监管总局</p>\n<p>2021年7月24日<img src=\"https://static.tigerbbs.com/670343de69414ca1b966fc90740b6559\" tg-width=\"1020\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","00700":"腾讯控股","TCEHY":"腾讯控股ADR"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170350340","content_text":"腾讯回应被责令解除网络音乐独家版权：公司将认真遵守决定，严格落实监管要求，依法合规经营，切实履行社会责任，维护市场的良性竞争。腾讯将压实责任，与腾讯音乐等关联公司在规定时限内制定整改措施方案，按照处罚决定要求全面不折不扣地完成，确保整改到位。\n\n 市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。\n\n2021年1月，市场监管总局根据举报，对腾讯控股有限公司（以下简称腾讯）2016年7月收购中国音乐集团股权涉嫌违法实施经营者集中行为立案调查。\n市场监管总局依据《反垄断法》，查清本交易违法实施集中的事实，充分评估参与集中的经营者在相关市场的份额、控制力、集中度以及集中对市场进入和消费者影响等因素。同时，广泛征求有关政府部门、行业协会、专家学者、同业竞争者意见，并多次听取腾讯陈述意见。\n调查表明，本案相关市场为中国境内网络音乐播放平台市场。正版音乐版权是网络音乐播放平台运营的核心资产和关键性资源。2016年腾讯和中国音乐集团在相关市场份额分别为30%和40%左右，腾讯通过与市场主要竞争对手合并，获得较高的市场份额，集中后实体占有的独家曲库资源超过80%，可能有能力促使上游版权方与其达成更多独家版权协议，或要求给予其优于竞争对手的交易条件，也可能有能力通过支付高额预付金等版权付费模式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争效果。\n根据《反垄断法》第四十八条、《经营者集中审查暂行规定》第五十七条规定，按照发展和规范并重的原则，市场监管总局依法作出行政处罚决定，责令腾讯及关联公司采取三十日内解除独家音乐版权、停止高额预付金等版权费用支付方式、无正当理由不得要求上游版权方给予其优于竞争对手的条件等恢复市场竞争状态的措施。腾讯三年内每年向市场监管总局报告履行义务情况，市场监管总局将依法严格监督其执行情况。\n本案为我国《反垄断法》实施以来对违法实施经营者集中采取必要措施恢复市场竞争状态的第一起案件。责令腾讯解除独家版权等措施将重塑相关市场竞争秩序，降低市场进入壁垒，使竞争者均有公平触达上游版权资源的机会，有利于将竞争的焦点从利用资本优势抢夺版权资源回归到创新服务水平、提高用户体验的理性轨道上来；有利于推动与国际接轨的合理方式计算版权费用，减轻下游运营成本；有利于培育新的市场进入者，并为现存企业创造更公平的竞争环境，保障消费者选择权，最终惠及广大消费者，促进网络音乐产业规范创新健康发展。\n以下为处罚书全文:\n国家市场监督管理总局\n行政处罚决定书\n国市监处〔2021〕67号\n当事人：腾讯控股有限公司\n住 所：开曼群岛哈金斯大道克里奇广场\n根据《中华人民共和国反垄断法》（以下简称《反垄断法》）、《经营者集中审查暂行规定》，本机关于2021年1月25日对腾讯控股有限公司（以下简称腾讯）收购中国音乐集团股权涉嫌违法实施经营者集中进行立案调查。\n经查，该案构成违法实施的经营者集中，具有或者可能具有排除、限制竞争的效果。本机关按照《中华人民共和国行政处罚法》（以下简称《行政处罚法》）规定，向腾讯送达《行政处罚告知书》，告知其拟作出的行政处罚内容及事实、理由、依据，并告知其依法享有的陈述、申辩和要求听证等权利。腾讯在规定期限内没有提出陈述、申辩或要求听证。本案现已调查、审理终结。\n\n基本情况\n\n（一）交易方。\n收购方：腾讯。1999年11月于英属维尔京群岛注册成立，2004年2月迁册至英属开曼群岛，2004年6月在香港联交所上市，通过协议控制境内主要运营实体深圳市腾讯计算机系统有限公司。主要业务包括社交和通信服务、社交网络平台、网络音乐平台、游戏、网络视频服务、互动娱乐直播等。2015年全球营业额为1028.63亿元人民币（币种下同），中国境内营业额为962.51亿元。\n被收购方：中国音乐集团。2012年于开曼群岛注册成立，通过协议控制境内主要运营实体海洋互动（北京）信息技术有限公司。主要业务包括网络音乐平台、唱片公司出版业务、版权代理业务等。自然人（略）作为一致行动人拥有共同控制权。2015年全球及中国境内营业额均为（略）。\n（二）交易概况。\n2016年7月12日，腾讯以估值（略）的业务（主要是QQ音乐业务）投入中国音乐集团，获得中国音乐集团61.64%股权，取得对中国音乐集团的单独控制权。2016年12月，整合后的中国音乐集团更名为腾讯音乐娱乐集团。2017年12月6日，交易完成股权变更登记手续。\n二、违法事实及理由\n（一）本案构成违法实施的经营者集中。\n《反垄断法》第二十条规定“经营者集中是指下列情形：（一）经营者合并；（二）经营者通过取得股权或者资产的方式取得对其他经营者的控制权；（三）经营者通过合同等方式取得对其他经营者的控制权或者能够对其他经营者施加决定性影响”。本项集中前，中国音乐集团由自然人（略）共同控制。本项集中后，腾讯获得中国音乐集团61.64%股权，取得对中国音乐集团单独控制权，属于《反垄断法》第二十条规定的经营者集中。\n腾讯2015年全球营业额为1028.63亿元，中国境内营业额为962.51亿元，中国音乐集团2015年全球及中国境内营业额均为（略），达到《国务院关于经营者集中申报标准的规定》第三条规定的申报标准，属于应当申报的情形。\n《反垄断法》第二十一条规定“经营者集中达到国务院规定的申报标准的，经营者应当事先向国务院反垄断执法机构申报，未申报的不得实施集中”。2017年12月6日，腾讯完成股权变更登记，在此之前未向本机关申报，违反《反垄断法》第二十一条规定，构成违法实施的经营者集中。\n以上事实，有腾讯营业执照复印件、组织架构图、股权关系图、《经营者集中反垄断审查申报表》、腾讯年报、《腾讯相关问题的书面说明》、《股份认购协议》等证据证明。\n（二）本案具有或者可能具有排除、限制竞争的效果。\n根据《反垄断法》和《国务院反垄断委员会关于相关市场界定的指南》规定，同时考虑平台经济特点，在经济学分析和问卷调查基础上，本案相关市场界定为交易双方存在横向重叠的中国境内网络音乐播放平台市场。网络音乐播放平台市场是指通过电脑端、手机端或者其他智能终端的程序或网站，以在线播放或下载方式向消费者提供完整版权音乐录音制品播放服务的平台。网络K歌、网络直播、短视频平台等虽也提供与网络音乐相关的服务，但其核心功能、应用场景、商业模式、市场进入等与网络音乐播放平台市场不具有紧密替代关系，不属于同一相关商品市场。由于音乐版权的授权受各国著作权法规定限制，具有明显的地域差异，中国的网络音乐播放平台获得授权的音乐版权传播范围一般为中国境内，且主要面向中国境内用户，因此相关地域市场界定为中国境内。\n经深入研究，本项集中对中国境内网络音乐播放平台市场具有或者可能具有排除、限制竞争效果：\n\n集中后实体在相关市场具有较高市场份额。\n\n2016年7月集中发生时，腾讯和中国音乐集团的月活跃用户数分别为1.6亿人、2.3亿人，市场份额分别为33.96%、49.07%；用户月使用时长分别为8.05亿小时、6.98亿小时，市场份额分别为45.77%、39.65%，集中双方均列市场前两位，合计市场份额超过80%。2016年集中双方在相关市场的销售金额合计（略），约占相关市场总收入规模的70%。以音乐版权核心资源占有率计算，腾讯和中国音乐集团的曲库数量分别为1210万、821万，其中独家曲库为314万、130万，曲库和独家资源的市场占有率均超过80%。\n从该市场赫芬达尔－赫希曼指数（HHI指数）分析，交易后为6950，为高度集中市场，集中产生的增量为3350。交易导致相关市场集中度进一步提高，竞争被进一步削弱。\n\n集中减少相关市场主要竞争对手。\n\n调查显示，交易前集中双方居市场前两位，竞争实力相当，彼此竞争较为紧密。根据消费者在替代性平台之间的流向选择显示，腾讯旗下QQ音乐73.6%的用户流向了中国音乐集团旗下的酷狗音乐和酷我音乐，表明如果QQ音乐提高价格或降低服务水平，可能有73.6%的用户流向中国音乐集团旗下平台，双方互为较为紧密竞争者。集中减少相关市场主要竞争对手，进一步削弱市场竞争。\n\n集中可能进一步提高相关市场进入壁垒。\n\n一是可能提高版权资源壁垒。在集中后实体锁定较多独家版权资源的情况下，新进入者须依靠其转授权，进入相关市场较为困难。由集中带来的市场规模也使其有能力通过提前支付不可返还的高额预付金等方式向上游版权方支付版权费用，可能进一步提高市场进入壁垒。\n二是可能增加用户转换成本。集中为腾讯带来较为丰富的曲库资源、较大的用户规模及充足的使用数据，相比新进入平台更能推荐符合消费者偏好的歌曲，导致用户转换平台意愿降低，从而进一步扩大用户规模，可能阻止其他竞争者达到或维持临界规模。\n三是集中后市场进入活跃度不高。数据显示，网络音乐播放平台市场的主要进入发生在2016年初至2017年7月，2017年底集中完成后，该市场进入活跃度下降较明显。\n综上，腾讯通过本项集中在中国境内网络音乐播放平台市场具有较高市场份额，可能使其有能力促使上游版权方对其进行独家版权授权，或者向其提供优于竞争对手的条件，也可能使腾讯有能力通过支付高额预付金等方式提高市场进入壁垒，对相关市场具有或者可能具有排除、限制竞争的效果。\n调查同时发现，中国网络音乐播放平台市场发展较为迅速，腾讯主要竞争对手（略）的市场份额也呈现较快速度增长，由集中发生时的不足6%增长至近18%，增长200%左右，说明竞争对手对其竞争约束有增强的趋势。此外，网络音乐播放平台与其他平台之间近年来呈现出一定的动态竞争和跨界融合趋势，一些拥有广泛用户基础的短视频平台，如果再获得足够数量的音乐版权资源，在未来有可能成为相关市场的竞争者。\n以上事实，有第三方机构统计数据和行业分析报告、《问卷调查报告》、《经济学分析报告》、腾讯和相关方提供的《授权协议》和《转授权协议》、行业主管部门等相关方的回复意见等证据证明。\n三、行政处罚依据和决定\n《反垄断法》第四十八条规定“经营者违反本法规定实施集中的，由国务院反垄断执法机构责令停止实施集中、限期处分股份或者资产、限期转让营业以及采取其他必要措施恢复到集中前的状态，可以处五十万元以下的罚款”。《反垄断法》第四十九条规定“对本法第四十六条、第四十七条、第四十八条规定的罚款，反垄断执法机构确定具体罚款数额时，应当考虑违法行为的性质、程度和持续的时间等因素”。\n根据上述规定，基于上述调查情况和评估结论，本机关对腾讯作出如下处理决定：\n（一）责令腾讯及其关联公司采取以下措施恢复相关市场竞争状态：\n1. 不得与上游版权方达成或变相达成独家版权协议（版权范围包括所有音乐作品及录音制品的信息网络传播权）或其他排他性协议，已经达成的，须在本决定发布之日起三十日内解除，与独立音乐人（是指音乐作品或录音制品的原始权利人，并以个人名义与音乐平台进行版权授权，且从未与任何唱片公司或经纪公司签订协议的自然人）或新歌首发的独家合作除外。与独立音乐人的独家合作期限不得超过三年，与新歌首发的独家合作期限不得超过三十日。\n2. 没有正当理由，不得要求或变相要求上游版权方给予当事人优于其他竞争对手的条件，包括但不限于授权范围、授权金额、授权期限等，或与之相关的任何协议或协议条款。已经达成的，须在本决定发布之日起三十日内解除。\n3. 依据版权实际使用情况、用户付费情况、歌曲单价、应用场景、签约期限等因素向上游版权方报价，不得通过高额预付金等方式变相提高竞争对手成本，排除、限制竞争。\n（二）处以50万元罚款。\n（三）依法申报经营者集中。\n1.经营者集中达到国务院规定的申报标准的，应当事先向市场监管总局申报，未申报的不得实施集中。\n2.经营者集中未达到申报标准，但该经营者集中具有或者可能具有排除、限制竞争效果的，应当事先向市场监管总局申报，未申报的不得实施集中。\n3.交易未构成经营者集中的，除法律规定的保护小股东权益事项外，不得参与相关企业经营决策，并在每年的年度报告中向市场监管总局报告交易基本情况等内容。\n（四）依法合规经营，建立健全公平参与市场竞争的长效机制。\n1.全面规范自身竞争行为，对照《反垄断法》开展全面深入自查，检视并规范自身经营行为。\n2.严格落实平台企业主体责任，不断完善平台内部治理规则，按照公平、合理、无歧视原则与其他经营者开展合作。\n3.完善企业内部合规控制制度，建立并有效执行反垄断合规制度，自觉维护公平竞争。\n4.保护消费者合法权益。充分保障消费者各项权利，合理制定收费价格，保护消费者隐私。\n5.积极维护公平竞争，推动行业创新发展。\n以上措施期限自《行政处罚决定书》下发之日起算，腾讯及其关联公司须在十日内对照上述措施制定整改方案，并报市场监管总局审核。市场监管总局三年内有权通过监督受托人或自行监督检查腾讯及其关联公司履行上述义务的情况，腾讯三年内每年向市场监管总局报告履行义务情况，三年到期后不再报告。\n《行政处罚法》第六十七条规定“作出罚款决定的行政机关应当与收缴罚款的机构分离。除依照本法第六十八条、第六十九条的规定当场收缴的罚款外，作出行政处罚决定的行政机关及其执法人员不得自行收缴罚款。当事人应当自收到行政处罚决定书之日起十五日内，到指定的银行或者通过电子支付系统缴纳罚款。银行应当收受罚款，并将罚款直接上缴国库”。\n当事人应当自收到本行政处罚决定书之日起十五日内，根据本行政处罚决定书，携缴款码到12家中央财政非税收入收缴代理银行（工、农、中、建、交、中信、光大、招商、邮储、华夏、平安、兴业）任一银行网点或者网上银行交纳罚款。缴款码：***。\n当事人如对上述行政处罚决定不服，可以自收到本行政处罚决定书之日起六十日内，向国家市场监督管理总局申请行政复议；或者自收到本行政处罚决定书之日起六个月内，依法向北京知识产权法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不停止执行。\n市场监管总局\n2021年7月24日","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173369912,"gmtCreate":1626617771536,"gmtModify":1703762371236,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"liike","listText":"liike","text":"liike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173369912","repostId":"1160796593","repostType":4,"repost":{"id":"1160796593","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626606185,"share":"https://ttm.financial/m/news/1160796593?lang=&edition=fundamental","pubTime":"2021-07-18 19:03","market":"fut","language":"zh","title":"OPEC+同意增产石油，结束当前的僵持局面","url":"https://stock-news.laohu8.com/highlight/detail?id=1160796593","media":"老虎资讯综合","summary":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和","content":"<p>7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。</p>\n<p>除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OPEC+同意增产石油，结束当前的僵持局面</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; 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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\">\nOPEC+同意增产石油，结束当前的僵持局面\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-18 19:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。</p>\n<p>除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160796593","content_text":"7月18日，在沙特和阿联酋解决了一项阻碍协议达成的争端后，欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示，该组织将每月增产至多40万桶/日，直到所有闲置的产能都恢复，根据协议，阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张，并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。\nOPEC+同意阿联酋的原油减产新基线为350万桶/日，将于2022年5月开始生效。\n除了阿联酋，其他OPEC+成员也有望获得新的减产基准，伊拉克和科威特的产量基线分别提高15万桶/天。\n欧佩克+同意从2022年5月开始，将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。\nOPEC+还同意从8月起进一步放宽减产，新的原油减产基准线将于2022年5月生效。\n欧佩克+已经就原油生产问题达成协议，下一次欧佩克+会议将在9月21日举行，同意将减产协议延长至2022年底。\n欧佩克草案声明显示，欧佩克+计划在2022年9月之前，在市场条件允许的情况下，全面取消580万桶/日的减产。","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179153661,"gmtCreate":1626495564153,"gmtModify":1703761145119,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179153661","repostId":"1130243635","repostType":4,"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141703719,"gmtCreate":1625889426631,"gmtModify":1703750527618,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141703719","repostId":"1177397700","repostType":4,"repost":{"id":"1177397700","kind":"news","pubTimestamp":1625876446,"share":"https://ttm.financial/m/news/1177397700?lang=&edition=fundamental","pubTime":"2021-07-10 08:20","market":"us","language":"en","title":"Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.","url":"https://stock-news.laohu8.com/highlight/detail?id=1177397700","media":"Barrons","summary":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.Now that Facebook  has earned access—its market cap was down slightly by the end of the week, to ","content":"<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.</p>\n<p>Now that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.</p>\n<p>There’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by&nbsp;Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and&nbsp;Visa(V).</p>\n<p>We’ve covered all of those stocks closely at&nbsp;Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review &amp; Preview newsletter.</p>\n<p>A few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and&nbsp;JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While&nbsp;Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.</p>\n<p>I’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.</p>\n<p>The business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.</p>\n<p>While the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.</p>\n<p><img src=\"https://static.tigerbbs.com/ed700f7a7812c0bf7b9b205ad99c33e7\" tg-width=\"872\" tg-height=\"769\" referrerpolicy=\"no-referrer\"></p>\n<p>I asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&amp;P information technology, as a percent of overall S&amp;P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”</p>\n<p>Right now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.</p>\n<p>Tech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&amp;P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&amp;P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).</p>\n<p>Tech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.</p>\n<p>On Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.</p>\n<p>By now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/963cb5c585db8df9615cd98e0bbd4bbc\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"><span>A room at the F8 Developers Conference in San Jose, Calif.</span></p>\n<p>Privacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.</p>\n<p>For now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.</p>\n<p>It’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”</p>","source":"lsy1601382232898","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>Which Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.</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\">\nWhich Company Can Reach $1 Trillion After Facebook? Here’s Our Guess.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the ...</p>\n\n<a href=\"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WMT":"沃尔玛","V":"Visa","UNH":"联合健康","JPM":"摩根大通","AAPL":"苹果","BABA":"阿里巴巴","TSM":"台积电","NVDA":"英伟达","BRK.A":"伯克希尔","GOOGL":"谷歌A","AMZN":"亚马逊","TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/which-company-can-reach-1-trillion-after-facebook-heres-our-guess-51625875587?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177397700","content_text":"Late last month, Facebook notched what could be its most notable achievement yet: Its market value hit $1 trillion. Just five U.S.-listed companies have reached the $1 trillion mark—or 0.08% of the total number of stocks currently traded on the New York Stock Exchange and Nasdaq. That’s roughly the odds of a high school basketball player making the National Basketball Association. It’s an elite club.\nNow that Facebook (ticker: FB) has earned access—its market cap was down slightly by the end of the week, to $980 billion—we might be waiting a while for the next entrant. That’s partly because the federal government wants to rein in big business, but also because the current trillion-dollar members have a natural incentive to keep the club small.\nThere’s a big drop-off to the next candidate for membership—call it the Trillion-Dollar Cliff. Among U.S.-listed companies,Tesla(TSLA) is next up, with a market value of $629 billion, followed by Berkshire Hathaway(BRK.A),Alibaba Group Holding(BABA),Taiwan Semiconductor Manufacturing(TSM), and Visa(V).\nWe’ve covered all of those stocks closely at Barron’s, and I’ve spent the past few weeks talking to colleagues about which company might be next. I’ve also queried sources and polled readers of our daily Review & Preview newsletter.\nA few names get repeated mentions: Tesla,Nvidia(NVDA), Visa, and JPMorgan Chase(JPM), each of which are worth at least $400 billion.Shopify(SHOP) got a less obvious mention. The company is way down the market-value rank at $182 billion. It has become something of the anti-Amazon,providing bricks-and-mortar vendors and other businesses with easy e-commerce tools. While Amazon.com(AMZN) seeks to fend off regulation and a potential breakup, Shopify can keep its head down and continue to recruit new business.\nI’ll place my bets on Visa getting to $1 trillion next, even if it takes a while. The company is closely tied to the economic recovery, since it gets a cut of transactions that run through its global electronic-payments network.\nThe business, which is part tech and part financial services, has a long tailwind as cash usage declines around the world. Visa shares have returned an annualized 28% over the past decade. If that pattern holds, Visa would reach $1 trillion by 2024.\nWhile the next trillion-dollar stock is clearly a guessing game, one thing is clear: Large numbers have been no impediment to future gains.Apple(AAPL) has returned an annualized 44% since it became the first U.S.-listed company to reach a $1 trillion value in August 2018. The stock closed at a record this past week, giving it a market value of $2.4 trillion.\n\nI asked Denise Chisholm, Fidelity’s sector strategist, if the so-called law of large numbers would ever kick in. “Size is not particularly predictive one way or the other,” she says. “The S&P information technology, as a percent of overall S&P, is now in excess of 20%. Does that have any meaning on whether or not that group or that sector can outperform in the future? The answer really is no.”\nRight now, the trillion-dollar members have momentum on their side. “A ball in motion tends to stay in motion,” she says.\nTech’s secret sauce has been continuously expanding profit margins, with valuations that are essentially in line with their historic norms. Operating margins for the S&P 500’s information technology sector have doubled in the past 15 years, to a recent 21%, according to Yardeni Research, while overall S&P 500 margins have been static at 10% or so (excluding a collapse during the financial crisis).\nTech’s magic—and those trillion-dollar club passes—are now hitting up against the increased likelihood of regulation. “The sheer fact of the headline of the trillion-dollar club is going to bring even more regulation,” says Jim Paulsen, chief investment officer of The Leuthold Group.\nOn Friday, the Biden administration signed an executive order that calls for a “whole-of-government effort to promote competition in the American economy.” The order, which consists of 72 initiatives, is simultaneously broad and narrow. It pushes against consolidation while also addressing consumer pain points, like early-termination fees for broadband services, hard-to-fix consumer devices, and airline baggage fees.\nBy now, the Biden administration recognizes that tech regulation isn’t a slam dunk with the public. Despite unease around data and privacy practices, less than half of U.S. adults are in favor of more tech regulation, according to a 2020 Pew Research poll.\nA room at the F8 Developers Conference in San Jose, Calif.\nPrivacy regulation is politically complicated, especially if it means reining in the advertising that enables free services like social media, internet search, and email. But there isn’t much controversial about limiting broadband charges or making it easier to fix a smartphone battery. The White House seems to be attacking companies where it hurts—their mixed record of customer service.\nFor now, investors continue to generally overlook regulation. All five members of the trillion-dollar club were either higher or flat on Friday in the wake of Biden’s executive order.\nIt’s time to take regulation more seriously, says Ed Yardeni, president of Yardeni Research. “A trillion here, a trillion there attracts a lot of attention from politicians.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190082111,"gmtCreate":1620553443233,"gmtModify":1704344922682,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190082111","repostId":"1106882084","repostType":4,"repost":{"id":"1106882084","kind":"news","pubTimestamp":1620451121,"share":"https://ttm.financial/m/news/1106882084?lang=&edition=fundamental","pubTime":"2021-05-08 13:18","market":"us","language":"en","title":"US IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1106882084","media":"renaissancecap...","summary":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings.The largest deal of the week,Enact Holdings plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.Cros","content":"<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance company<b>Enact Holdings</b>(ACT).</p>\n<p>The largest deal of the week,<b>Enact Holdings</b>(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.</p>\n<p>Cross-border e-commerce platform<b>Global-E Online</b>(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.</p>\n<p>Hearing care services provider<b>hear.com</b>(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.</p>\n<p>Brazilian customer experience platform<b>Zenvia</b>(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.</p>\n<p>Israeli web analytics provider<b>Similarweb</b>(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.</p>\n<p>Online hydroponic equipment supplier<b>iPower</b>(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.</p>\n<p>Canadian cannabis products developer<b>Flora Growth</b>(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.</p>\n<p><img src=\"https://static.tigerbbs.com/57e90b667064a33ea39693340582c44c\" tg-width=\"1064\" tg-height=\"646\"></p>","source":"lsy1619493174116","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 IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO 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\">\nUS IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106882084","content_text":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.\nCross-border e-commerce platformGlobal-E Online(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.\nHearing care services providerhear.com(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.\nBrazilian customer experience platformZenvia(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.\nIsraeli web analytics providerSimilarweb(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.\nOnline hydroponic equipment supplieriPower(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.\nCanadian cannabis products developerFlora Growth(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.","news_type":1},"isVote":1,"tweetType":1,"viewCount":75,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190086969,"gmtCreate":1620553299051,"gmtModify":1704344920897,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190086969","repostId":"1106882084","repostType":4,"repost":{"id":"1106882084","kind":"news","pubTimestamp":1620451121,"share":"https://ttm.financial/m/news/1106882084?lang=&edition=fundamental","pubTime":"2021-05-08 13:18","market":"us","language":"en","title":"US IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1106882084","media":"renaissancecap...","summary":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings.The largest deal of the week,Enact Holdings plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.Cros","content":"<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance company<b>Enact Holdings</b>(ACT).</p>\n<p>The largest deal of the week,<b>Enact Holdings</b>(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.</p>\n<p>Cross-border e-commerce platform<b>Global-E Online</b>(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.</p>\n<p>Hearing care services provider<b>hear.com</b>(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.</p>\n<p>Brazilian customer experience platform<b>Zenvia</b>(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.</p>\n<p>Israeli web analytics provider<b>Similarweb</b>(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.</p>\n<p>Online hydroponic equipment supplier<b>iPower</b>(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.</p>\n<p>Canadian cannabis products developer<b>Flora Growth</b>(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.</p>\n<p><img src=\"https://static.tigerbbs.com/57e90b667064a33ea39693340582c44c\" tg-width=\"1064\" tg-height=\"646\"></p>","source":"lsy1619493174116","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 IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO 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\">\nUS IPO Week Ahead: Mortgage insurance and cross-border e-commerce lead a 7 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/81602/US-IPO-Week-Ahead-Mortgage-insurance-and-cross-border-e-commerce-lead-a-7-I","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106882084","content_text":"Seven IPOs are slated to raise $1.6 billion in the week ahead, led by private mortgage insurance companyEnact Holdings(ACT).\nThe largest deal of the week,Enact Holdings(ACT) plans to raise $497 million at a $3.6 billion market cap. Being spun out of Genworth Financial, Enact is a leading private mortgage insurance company in the US, with a 17% share of the market in 2020. The company saw a 60% increase in new insurance written during the year, though COVID-19 has caused higher delinquencies and losses.\nCross-border e-commerce platformGlobal-E Online(GLBE) plans to raise $360 million at a $4.0 billion market cap. The company states that it has built the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. Fast growing and profitable in 2020, Global-E has over 400 merchants on its platform and currently supports transactions in over 200 markets worldwide.\nHearing care services providerhear.com(HCG) plans to raise $300 million at a $2.1 billion market cap. The company’s data-driven approach to hearing care enables them to deliver a personalized experience and respond to customer needs in real time. While its conversion rate fell slightly in the FY20, hear.com saw 25%+ increases in both appointments and total customer sales.\nBrazilian customer experience platformZenvia(ZENV) plans to raise $213 million at a $607 million market cap. The company’s software platform facilitated the flow of communication for more than 9,400 customers throughout Latin America as of December 31, 2020. While it achieved a standalone net revenue expansion rate of over 110%, Zenvia’s EBIT turned negative in 2020.\nIsraeli web analytics providerSimilarweb(SMWB) plans to raise $160 million at a $1.7 billion market cap. The company has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors. Similarweb has demonstrated growth, though it remains small and unprofitable with widening losses.\nOnline hydroponic equipment supplieriPower(IPW) plans to raise $24 million at a $202 million market cap. Fast growing and profitable, the company sells equipment that enables its customers to grow fruits, vegetables, flowers, and other plants, including cannabis, through its own website and third party retailers like Amazon, eBay, and Walmart.\nCanadian cannabis products developerFlora Growth(FLGC) plans to raise $15 million at a $221 million market cap. Flora Growth cultivates and processes medical-grade cannabis oil and other cannabis derived products in Colombia. Flora Growth is highly unprofitable, and it just began generating revenues this past August.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105119168,"gmtCreate":1620276934354,"gmtModify":1704341229909,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"comment","listText":"comment","text":"comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105119168","repostId":"2133652936","repostType":4,"repost":{"id":"2133652936","kind":"news","pubTimestamp":1620244873,"share":"https://ttm.financial/m/news/2133652936?lang=&edition=fundamental","pubTime":"2021-05-06 04:01","market":"us","language":"en","title":"Dow ends at record high，Nasdaq falls as tech slides","url":"https://stock-news.laohu8.com/highlight/detail?id=2133652936","media":"Reuters","summary":"May 5 (Reuters) - The Dow Jones Industrial Average ended at a record high on Wednesday, while Nasdaq","content":"<p>May 5 (Reuters) - The Dow Jones Industrial Average ended at a record high on Wednesday, while Nasdaq gave up its earlier gains and closed in red.</p><p>Energy and materials continued this week's momentum, leading gains among S&amp;P 500 sectors. Defensive utilities and real estate led sectoral declines.</p><p>\"Energy, financial, materials, industrials are all outperforming. They tend to be cyclically oriented sectors and tend to benefit during periods when the economies are reopening and expanding,\" said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.</p><p>The Philadelphia SE Semiconductor index recovered from a sell-off on Tuesday. Megacap technology companies including Amazon.com Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc and Alphabet Inc were down.</p><p>Strong economic data and earnings pushed the S&amp;P 500 and Nasdaq indexes to record high last week, but markets have wobbled amid concerns about rising inflation and potentially higher U.S. interest rates.</p><p>\"Once you have markets hitting the highs we have seen recently, the <a href=\"https://laohu8.com/S/AONE\">one</a> thing investors are worried about is rising inflation and what that means for profitability of companies,\" said Shawn Cruz, senior market strategist at TD Ameritrade.</p><p>Tech sell-off accelerated on Tuesday after Treasury Secretary Janet Yellen suggested that interest rates might need to rise in an overheating economy.</p><p>She later clarified that a near-term interest rate hike was not something she was \"predicting or recommending\" on Tuesday evening.</p><p>The ADP National Employment Report showed U.S. private payrolls increased in April as companies rushed to boost production amid a surge in demand, powered by massive government aid and rising vaccinations against COVID-19.</p><p>A more comprehensive reading in the form of the Labor Department's non-farm payrolls data is due on Friday.</p><p>Unofficially, the Dow Jones Industrial Average rose 96.99 points, or 0.28%, to 34,230.02, the S&amp;P 500 gained 2.97 points, or 0.07%, to 4,167.63 and the Nasdaq Composite dropped 51.08 points, or 0.37%, to 13,582.43.</p><p>Peloton Interactive Inc hit a seven-month low on its announcement to recall its treadmills amid reports of multiple injuries and the death of a child in an accident.</p><p>Boeing Co fell after U.S. air safety officials asked it to supply fresh analysis and documentation showing 737 MAX subsystems would not be affected by electrical grounding issues.</p><p><a href=\"https://laohu8.com/S/TMUSR\">T-Mobile US Inc</a> jumped as it raised its full-year postpaid subscriber net additions forecast.</p><p>Uber Technologies Inc is set to report earnings after markets close on Wednesday.</p><p><a href=\"https://laohu8.com/NW/1108837445\" target=\"_blank\">Uber losses dramatically improve thanks to sale of self-driving unit</a></p><p><a href=\"https://laohu8.com/NW/1190727792\" target=\"_blank\">PayPal CEO touts ‘next generation digital wallet’ after earnings beat</a></p><p><a href=\"https://laohu8.com/NW/1185637253\" target=\"_blank\">Twilio Surpasses Q1 Earnings and Revenue Estimates</a></p><p><a href=\"https://laohu8.com/NW/1118316842\" target=\"_blank\">The Allstate Corp Q1 adjusted earnings of $6.11 per share</a></p><p><a href=\"https://laohu8.com/NW/1144806506\" target=\"_blank\">Etsy slides more than 10% after it warns of slowing growth</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow ends at record high，Nasdaq falls as tech slides</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\">\nDow ends at record high，Nasdaq falls as tech slides\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-06 04:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/business/dow-ends-record-high-nasdaq-falls-tech-slides-2021-05-05/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>May 5 (Reuters) - The Dow Jones Industrial Average ended at a record high on Wednesday, while Nasdaq gave up its earlier gains and closed in red.Energy and materials continued this week's momentum, ...</p>\n\n<a href=\"https://www.reuters.com/business/dow-ends-record-high-nasdaq-falls-tech-slides-2021-05-05/\">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",".SPX":"S&P 500 Index","OEX":"标普100","03086":"华夏纳指","BA":"波音","QNETCN":"纳斯达克中美互联网老虎指数","SDS":"两倍做空标普500ETF","09086":"华夏纳指-U","SH":"标普500反向ETF","LHDX":"Lucira Health, Inc.","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","APR":"Apria, Inc.","LABP":"Landos Biopharma, Inc.","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SANA":"Sana Biotechnology, Inc.","CGEM":"Cullinan Therapeutics","UPRO":"三倍做多标普500ETF","COMP":"Compass, Inc."},"source_url":"https://www.reuters.com/business/dow-ends-record-high-nasdaq-falls-tech-slides-2021-05-05/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133652936","content_text":"May 5 (Reuters) - The Dow Jones Industrial Average ended at a record high on Wednesday, while Nasdaq gave up its earlier gains and closed in red.Energy and materials continued this week's momentum, leading gains among S&P 500 sectors. Defensive utilities and real estate led sectoral declines.\"Energy, financial, materials, industrials are all outperforming. They tend to be cyclically oriented sectors and tend to benefit during periods when the economies are reopening and expanding,\" said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.The Philadelphia SE Semiconductor index recovered from a sell-off on Tuesday. Megacap technology companies including Amazon.com Inc and Facebook Inc and Alphabet Inc were down.Strong economic data and earnings pushed the S&P 500 and Nasdaq indexes to record high last week, but markets have wobbled amid concerns about rising inflation and potentially higher U.S. interest rates.\"Once you have markets hitting the highs we have seen recently, the one thing investors are worried about is rising inflation and what that means for profitability of companies,\" said Shawn Cruz, senior market strategist at TD Ameritrade.Tech sell-off accelerated on Tuesday after Treasury Secretary Janet Yellen suggested that interest rates might need to rise in an overheating economy.She later clarified that a near-term interest rate hike was not something she was \"predicting or recommending\" on Tuesday evening.The ADP National Employment Report showed U.S. private payrolls increased in April as companies rushed to boost production amid a surge in demand, powered by massive government aid and rising vaccinations against COVID-19.A more comprehensive reading in the form of the Labor Department's non-farm payrolls data is due on Friday.Unofficially, the Dow Jones Industrial Average rose 96.99 points, or 0.28%, to 34,230.02, the S&P 500 gained 2.97 points, or 0.07%, to 4,167.63 and the Nasdaq Composite dropped 51.08 points, or 0.37%, to 13,582.43.Peloton Interactive Inc hit a seven-month low on its announcement to recall its treadmills amid reports of multiple injuries and the death of a child in an accident.Boeing Co fell after U.S. air safety officials asked it to supply fresh analysis and documentation showing 737 MAX subsystems would not be affected by electrical grounding issues.T-Mobile US Inc jumped as it raised its full-year postpaid subscriber net additions forecast.Uber Technologies Inc is set to report earnings after markets close on Wednesday.Uber losses dramatically improve thanks to sale of self-driving unitPayPal CEO touts ‘next generation digital wallet’ after earnings beatTwilio Surpasses Q1 Earnings and Revenue EstimatesThe Allstate Corp Q1 adjusted earnings of $6.11 per shareEtsy slides more than 10% after it warns of slowing growth","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805496085,"gmtCreate":1627896639647,"gmtModify":1703497406381,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582937976166267","idStr":"3582937976166267"},"themes":[],"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805496085","repostId":"1187558503","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}