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2021-07-31

The big boys always win

Jim Cramer: Robinhood's IPO Debacle Shows How Little Has Changed Over the Decades

2021-07-31

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Why not leave a lot on the table and let the new investors do well?</p>\n<p>Third, I wanted enough stock placed with good hands that there would be no flippers and I wanted close coordination with the various brokers who tended to infiltrate the process and hijack the openings by batching market orders and opening the stocks way too high and then shorting them all the way down.</p>\n<p>I lost on every single point.</p>\n<p>The underwriters said we could not allocate to subscribers.</p>\n<p>Second, the price of the deal would not be controlled to where we could have a small pop so everyone would win.</p>\n<p>Third, the over-the-transom orders, those who placed market orders, were batched by an outfit called Knight Securities, not the underwriter, Goldman Sachs, and it opened at $62 -- it wasn't even clear what the opening price was it was so chaotic -- traded to $66, like how Robinhood traded to $39 and change, and then never traded higher.</p>\n<p>Everyone who bought that day lost money.</p>\n<p>Everyone who sold that day made money.</p>\n<p>No subscribers got in, most bought at the opening, from what I can tell, and I alienated everyone except the big dogs.</p>\n<p>It is amazing that here we are in 2021 and the process, while letting clients in, failed to price it so that Robinhood left money on the table. Believe me, it was possible to do so. But the underwriters and the management chose not to do so. We don't know which side screwed up, or both, but there was a successful blueprint; believe me, if I knew what it was in 1999, they knew what it is now.</p>\n<p>I always regretted what happened. Most people blamed me as I was the face of the process. I was astounded by how horrendous it was and did not \"take the long view\" because the long view sucked.</p>\n<p>Why do these things go wrong? I do blame the underwriter because they do this every day and the principals only do it once. They have to keep the management from betraying the shareholders because the shareholders think that it is management's fault. No underwriter is EVER going to say that they screwed up. 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First, as the founder, I was determined to award all the subscribers with stock to demonstrate my loyalty to them.\nSecond, I was insistent that the deal be priced much lower than the underwriters wanted. We had already made a ton of money for initial investors. Why not leave a lot on the table and let the new investors do well?\nThird, I wanted enough stock placed with good hands that there would be no flippers and I wanted close coordination with the various brokers who tended to infiltrate the process and hijack the openings by batching market orders and opening the stocks way too high and then shorting them all the way down.\nI lost on every single point.\nThe underwriters said we could not allocate to subscribers.\nSecond, the price of the deal would not be controlled to where we could have a small pop so everyone would win.\nThird, the over-the-transom orders, those who placed market orders, were batched by an outfit called Knight Securities, not the underwriter, Goldman Sachs, and it opened at $62 -- it wasn't even clear what the opening price was it was so chaotic -- traded to $66, like how Robinhood traded to $39 and change, and then never traded higher.\nEveryone who bought that day lost money.\nEveryone who sold that day made money.\nNo subscribers got in, most bought at the opening, from what I can tell, and I alienated everyone except the big dogs.\nIt is amazing that here we are in 2021 and the process, while letting clients in, failed to price it so that Robinhood left money on the table. Believe me, it was possible to do so. But the underwriters and the management chose not to do so. We don't know which side screwed up, or both, but there was a successful blueprint; believe me, if I knew what it was in 1999, they knew what it is now.\nI always regretted what happened. Most people blamed me as I was the face of the process. I was astounded by how horrendous it was and did not \"take the long view\" because the long view sucked.\nWhy do these things go wrong? I do blame the underwriter because they do this every day and the principals only do it once. They have to keep the management from betraying the shareholders because the shareholders think that it is management's fault. No underwriter is EVER going to say that they screwed up. That's not in the cards.\nSo, we sit back and we marvel about how badly the deal went even as it was well within the province of the underwriter and the principals to make it so Robinhood left more on the table.\nGreed?\nStupidity?\nHow about poor execution and a lack of transparency that shows how badly it was handled.\nJust like the offering ofTheStreet.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806555566,"gmtCreate":1627683650955,"gmtModify":1703494523228,"author":{"id":"4089706742679880","authorId":"4089706742679880","name":"greenmerlion","avatar":"https://static.tigerbbs.com/91b6431310f3fe5f383c87980016c954","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089706742679880","authorIdStr":"4089706742679880"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806555566","repostId":"1109908934","repostType":4,"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":806723407,"gmtCreate":1627695203009,"gmtModify":1703494786558,"author":{"id":"4089706742679880","authorId":"4089706742679880","name":"greenmerlion","avatar":"https://static.tigerbbs.com/91b6431310f3fe5f383c87980016c954","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089706742679880","authorIdStr":"4089706742679880"},"themes":[],"htmlText":"The big boys always win","listText":"The big boys always win","text":"The big boys always win","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/806723407","repostId":"1152039134","repostType":4,"repost":{"id":"1152039134","pubTimestamp":1627689014,"share":"https://ttm.financial/m/news/1152039134?lang=&edition=fundamental","pubTime":"2021-07-31 07:50","market":"us","language":"en","title":"Jim Cramer: Robinhood's IPO Debacle Shows How Little Has Changed Over the Decades","url":"https://stock-news.laohu8.com/highlight/detail?id=1152039134","media":"The Street","summary":"Take it from a guy who knows, the process is really flawed.\n\nWhat should Robinhood (HOOD) -Get Repor","content":"<blockquote>\n Take it from a guy who knows, the process is really flawed.\n</blockquote>\n<p>What should Robinhood&nbsp;(<b>HOOD</b>) -Get Report&nbsp;have done to avoid the IPO debacle?</p>\n<p>I can't speak to what happened on Thursday, who was in charge, who argued for what.</p>\n<p>I can only tell you what I argued for 22 years ago whenTheStreet.comwas coming public. First, as the founder, I was determined to award all the subscribers with stock to demonstrate my loyalty to them.</p>\n<p>Second, I was insistent that the deal be priced much lower than the underwriters wanted. We had already made a ton of money for initial investors. Why not leave a lot on the table and let the new investors do well?</p>\n<p>Third, I wanted enough stock placed with good hands that there would be no flippers and I wanted close coordination with the various brokers who tended to infiltrate the process and hijack the openings by batching market orders and opening the stocks way too high and then shorting them all the way down.</p>\n<p>I lost on every single point.</p>\n<p>The underwriters said we could not allocate to subscribers.</p>\n<p>Second, the price of the deal would not be controlled to where we could have a small pop so everyone would win.</p>\n<p>Third, the over-the-transom orders, those who placed market orders, were batched by an outfit called Knight Securities, not the underwriter, Goldman Sachs, and it opened at $62 -- it wasn't even clear what the opening price was it was so chaotic -- traded to $66, like how Robinhood traded to $39 and change, and then never traded higher.</p>\n<p>Everyone who bought that day lost money.</p>\n<p>Everyone who sold that day made money.</p>\n<p>No subscribers got in, most bought at the opening, from what I can tell, and I alienated everyone except the big dogs.</p>\n<p>It is amazing that here we are in 2021 and the process, while letting clients in, failed to price it so that Robinhood left money on the table. Believe me, it was possible to do so. But the underwriters and the management chose not to do so. We don't know which side screwed up, or both, but there was a successful blueprint; believe me, if I knew what it was in 1999, they knew what it is now.</p>\n<p>I always regretted what happened. Most people blamed me as I was the face of the process. I was astounded by how horrendous it was and did not \"take the long view\" because the long view sucked.</p>\n<p>Why do these things go wrong? I do blame the underwriter because they do this every day and the principals only do it once. They have to keep the management from betraying the shareholders because the shareholders think that it is management's fault. No underwriter is EVER going to say that they screwed up. That's not in the cards.</p>\n<p>So, we sit back and we marvel about how badly the deal went even as it was well within the province of the underwriter and the principals to make it so Robinhood left more on the table.</p>\n<p>Greed?</p>\n<p>Stupidity?</p>\n<p>How about poor execution and a lack of transparency that shows how badly it was handled.</p>\n<p>Just like the offering ofTheStreet.com.</p>","source":"lsy1610613172068","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>Jim Cramer: Robinhood's IPO Debacle Shows How Little Has Changed Over the Decades</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\">\nJim Cramer: Robinhood's IPO Debacle Shows How Little Has Changed Over the Decades\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/cramer-robinhood-ipo-debacle-thestreet-7-30-21><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Take it from a guy who knows, the process is really flawed.\n\nWhat should Robinhood (HOOD) -Get Report have done to avoid the IPO debacle?\nI can't speak to what happened on Thursday, who was in charge,...</p>\n\n<a href=\"https://www.thestreet.com/investing/cramer-robinhood-ipo-debacle-thestreet-7-30-21\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood"},"source_url":"https://www.thestreet.com/investing/cramer-robinhood-ipo-debacle-thestreet-7-30-21","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152039134","content_text":"Take it from a guy who knows, the process is really flawed.\n\nWhat should Robinhood (HOOD) -Get Report have done to avoid the IPO debacle?\nI can't speak to what happened on Thursday, who was in charge, who argued for what.\nI can only tell you what I argued for 22 years ago whenTheStreet.comwas coming public. First, as the founder, I was determined to award all the subscribers with stock to demonstrate my loyalty to them.\nSecond, I was insistent that the deal be priced much lower than the underwriters wanted. We had already made a ton of money for initial investors. Why not leave a lot on the table and let the new investors do well?\nThird, I wanted enough stock placed with good hands that there would be no flippers and I wanted close coordination with the various brokers who tended to infiltrate the process and hijack the openings by batching market orders and opening the stocks way too high and then shorting them all the way down.\nI lost on every single point.\nThe underwriters said we could not allocate to subscribers.\nSecond, the price of the deal would not be controlled to where we could have a small pop so everyone would win.\nThird, the over-the-transom orders, those who placed market orders, were batched by an outfit called Knight Securities, not the underwriter, Goldman Sachs, and it opened at $62 -- it wasn't even clear what the opening price was it was so chaotic -- traded to $66, like how Robinhood traded to $39 and change, and then never traded higher.\nEveryone who bought that day lost money.\nEveryone who sold that day made money.\nNo subscribers got in, most bought at the opening, from what I can tell, and I alienated everyone except the big dogs.\nIt is amazing that here we are in 2021 and the process, while letting clients in, failed to price it so that Robinhood left money on the table. Believe me, it was possible to do so. But the underwriters and the management chose not to do so. We don't know which side screwed up, or both, but there was a successful blueprint; believe me, if I knew what it was in 1999, they knew what it is now.\nI always regretted what happened. Most people blamed me as I was the face of the process. I was astounded by how horrendous it was and did not \"take the long view\" because the long view sucked.\nWhy do these things go wrong? I do blame the underwriter because they do this every day and the principals only do it once. They have to keep the management from betraying the shareholders because the shareholders think that it is management's fault. No underwriter is EVER going to say that they screwed up. That's not in the cards.\nSo, we sit back and we marvel about how badly the deal went even as it was well within the province of the underwriter and the principals to make it so Robinhood left more on the table.\nGreed?\nStupidity?\nHow about poor execution and a lack of transparency that shows how badly it was handled.\nJust like the offering ofTheStreet.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806555566,"gmtCreate":1627683650955,"gmtModify":1703494523228,"author":{"id":"4089706742679880","authorId":"4089706742679880","name":"greenmerlion","avatar":"https://static.tigerbbs.com/91b6431310f3fe5f383c87980016c954","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089706742679880","authorIdStr":"4089706742679880"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806555566","repostId":"1109908934","repostType":4,"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9008412635,"gmtCreate":1641511928428,"gmtModify":1676533622507,"author":{"id":"4089706742679880","authorId":"4089706742679880","name":"greenmerlion","avatar":"https://static.tigerbbs.com/91b6431310f3fe5f383c87980016c954","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089706742679880","authorIdStr":"4089706742679880"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9008412635","repostId":"1178225655","repostType":4,"repost":{"id":"1178225655","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":1641479519,"share":"https://ttm.financial/m/news/1178225655?lang=&edition=fundamental","pubTime":"2022-01-06 22:31","market":"us","language":"en","title":"Nasdaq Falls for a Third Day as Investors Flee Tech Because of Higher Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1178225655","media":"Tiger Newspress","summary":"Dow futures edged higher in early trading Thursday, recovering after worries over tighter monetary p","content":"<html><head></head><body><p></p><p>Dow futures edged higher in early trading Thursday, recovering after worries over tighter monetary policy led to the first losing regular trading session of the year.</p><p></p><p>Futures on the Dow Jones Industrial Average gained 54 points, or 0.29%. S&amp;P 500 futures were little changed and Nasdaq 100 futures fell 0.3%.</p><p></p><p>Energy shares helped boost the market in early action as crude prices rose 3.4%. Marathon Oil gained 2.6%, Occidental Petroleum was up 3.4% and ExxonMobil rose 1.6%.</p><p></p><p>Rate-sensitive stocks also were higher a day after minutes from the Federal Reserve’s December meeting revealed the central bank is getting ready to remove its economic help more more quickly than anticipated. Officials discussed reducing the Fed’s balance sheet in another move to dial back its pandemic-era easy monetary policy.</p><p></p><p>As investors digested the minutes Thursday, the 10-year Treasury yield pushed above 1.75%, after ending last year at 1.51%.</p><p></p><p>Bank of America saw its shares increase 1.5% premarket and Citigroup rose 1.4% and Wells Fargo gained 1.3%.</p><p></p><p>The Fed’s plan to reduce the number of Treasurys and mortgage-backed securities it holds comes as it is already tapering its bond purchases and is set to hike interest rates after the taper concludes.</p><p></p><p>“Almost all participants agreed that it would likely be appropriate to initiate balance sheet runoff at some point after the first increase in the target range for the federal funds rate,” the minutes stated.</p><p></p><p>Stocks slid following the release of the minutes. The blue-chip Dow Jones Industrial Average closed 392.54 points, or 1.07%, lower after hitting an intraday record earlier in the session. The S&amp;P 500 fell 1.94%. The tech-heavy Nasdaq saw its biggest one-day loss since February, losing 3.34%.</p><p></p><p>“If you ride a wave of liquidity to the upside and that liquidity starts to go away, I don’t think it’s terribly surprising that you’re going to see a reaction,” said Kathy Jones, head of fixed income at Charles Schwab.</p><p></p><p>“This was the year we were going to transition from extremely easy monetary policy and fiscal policy to less easy monetary and less expansive fiscal policy. That has to have some impact on risk assets that have risen because the discount rate was so low,” Jones added.</p><p></p><p>All 11 S&amp;P 500 sectors fell in Wednesday’s session.</p><p></p><p>Elsewhere Thursday, shares of Allbirds rallied more than 4% after Morgan Stanley upgraded the shoe brand, whose stock has struggled since it went public in November. Also, crypto exchange Coinbase rose nearly 1% following a Bank of America upgrade that said the company is broadening its business.</p><p></p><p>Shares of Walgreens Boots Alliance gained 2.6% in premarket trading after reporting strong earnings for its latest quarter driven by customers going to stores for Covid treatments and at-home tests. Meanwhile, Bed Bath &amp; Beyond shares fell about 9% after reporting a loss for its fiscal third quarter.</p><p></p><p>Initial claims for unemployment insurance ticked up to 207,000 for the week ending Jan.1, the Labor Department reported Thursday. Economists surveyed by Dow Jones expect claims would total 195,000.</p><p></p><p>The data comes a day ahead of the Labor Department’s key nonfarm payrolls report, which is expected to show that the economy added 422,000 jobs in December. However, payroll processing firm ADP reported Wednesday that companies added a much higher-than-expected 807,000 positions for the month, indicating a possible upside surprise to Friday’s count from the department’s Bureau of Labor Statistics.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq Falls for a Third Day as Investors Flee Tech Because of Higher Rates</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\">\nNasdaq Falls for a Third Day as Investors Flee Tech Because of Higher Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-06 22:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p></p><p>Dow futures edged higher in early trading Thursday, recovering after worries over tighter monetary policy led to the first losing regular trading session of the year.</p><p></p><p>Futures on the Dow Jones Industrial Average gained 54 points, or 0.29%. S&amp;P 500 futures were little changed and Nasdaq 100 futures fell 0.3%.</p><p></p><p>Energy shares helped boost the market in early action as crude prices rose 3.4%. Marathon Oil gained 2.6%, Occidental Petroleum was up 3.4% and ExxonMobil rose 1.6%.</p><p></p><p>Rate-sensitive stocks also were higher a day after minutes from the Federal Reserve’s December meeting revealed the central bank is getting ready to remove its economic help more more quickly than anticipated. Officials discussed reducing the Fed’s balance sheet in another move to dial back its pandemic-era easy monetary policy.</p><p></p><p>As investors digested the minutes Thursday, the 10-year Treasury yield pushed above 1.75%, after ending last year at 1.51%.</p><p></p><p>Bank of America saw its shares increase 1.5% premarket and Citigroup rose 1.4% and Wells Fargo gained 1.3%.</p><p></p><p>The Fed’s plan to reduce the number of Treasurys and mortgage-backed securities it holds comes as it is already tapering its bond purchases and is set to hike interest rates after the taper concludes.</p><p></p><p>“Almost all participants agreed that it would likely be appropriate to initiate balance sheet runoff at some point after the first increase in the target range for the federal funds rate,” the minutes stated.</p><p></p><p>Stocks slid following the release of the minutes. The blue-chip Dow Jones Industrial Average closed 392.54 points, or 1.07%, lower after hitting an intraday record earlier in the session. The S&amp;P 500 fell 1.94%. The tech-heavy Nasdaq saw its biggest one-day loss since February, losing 3.34%.</p><p></p><p>“If you ride a wave of liquidity to the upside and that liquidity starts to go away, I don’t think it’s terribly surprising that you’re going to see a reaction,” said Kathy Jones, head of fixed income at Charles Schwab.</p><p></p><p>“This was the year we were going to transition from extremely easy monetary policy and fiscal policy to less easy monetary and less expansive fiscal policy. That has to have some impact on risk assets that have risen because the discount rate was so low,” Jones added.</p><p></p><p>All 11 S&amp;P 500 sectors fell in Wednesday’s session.</p><p></p><p>Elsewhere Thursday, shares of Allbirds rallied more than 4% after Morgan Stanley upgraded the shoe brand, whose stock has struggled since it went public in November. Also, crypto exchange Coinbase rose nearly 1% following a Bank of America upgrade that said the company is broadening its business.</p><p></p><p>Shares of Walgreens Boots Alliance gained 2.6% in premarket trading after reporting strong earnings for its latest quarter driven by customers going to stores for Covid treatments and at-home tests. Meanwhile, Bed Bath &amp; Beyond shares fell about 9% after reporting a loss for its fiscal third quarter.</p><p></p><p>Initial claims for unemployment insurance ticked up to 207,000 for the week ending Jan.1, the Labor Department reported Thursday. Economists surveyed by Dow Jones expect claims would total 195,000.</p><p></p><p>The data comes a day ahead of the Labor Department’s key nonfarm payrolls report, which is expected to show that the economy added 422,000 jobs in December. However, payroll processing firm ADP reported Wednesday that companies added a much higher-than-expected 807,000 positions for the month, indicating a possible upside surprise to Friday’s count from the department’s Bureau of Labor Statistics.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178225655","content_text":"Dow futures edged higher in early trading Thursday, recovering after worries over tighter monetary policy led to the first losing regular trading session of the year.Futures on the Dow Jones Industrial Average gained 54 points, or 0.29%. S&P 500 futures were little changed and Nasdaq 100 futures fell 0.3%.Energy shares helped boost the market in early action as crude prices rose 3.4%. Marathon Oil gained 2.6%, Occidental Petroleum was up 3.4% and ExxonMobil rose 1.6%.Rate-sensitive stocks also were higher a day after minutes from the Federal Reserve’s December meeting revealed the central bank is getting ready to remove its economic help more more quickly than anticipated. Officials discussed reducing the Fed’s balance sheet in another move to dial back its pandemic-era easy monetary policy.As investors digested the minutes Thursday, the 10-year Treasury yield pushed above 1.75%, after ending last year at 1.51%.Bank of America saw its shares increase 1.5% premarket and Citigroup rose 1.4% and Wells Fargo gained 1.3%.The Fed’s plan to reduce the number of Treasurys and mortgage-backed securities it holds comes as it is already tapering its bond purchases and is set to hike interest rates after the taper concludes.“Almost all participants agreed that it would likely be appropriate to initiate balance sheet runoff at some point after the first increase in the target range for the federal funds rate,” the minutes stated.Stocks slid following the release of the minutes. The blue-chip Dow Jones Industrial Average closed 392.54 points, or 1.07%, lower after hitting an intraday record earlier in the session. The S&P 500 fell 1.94%. The tech-heavy Nasdaq saw its biggest one-day loss since February, losing 3.34%.“If you ride a wave of liquidity to the upside and that liquidity starts to go away, I don’t think it’s terribly surprising that you’re going to see a reaction,” said Kathy Jones, head of fixed income at Charles Schwab.“This was the year we were going to transition from extremely easy monetary policy and fiscal policy to less easy monetary and less expansive fiscal policy. That has to have some impact on risk assets that have risen because the discount rate was so low,” Jones added.All 11 S&P 500 sectors fell in Wednesday’s session.Elsewhere Thursday, shares of Allbirds rallied more than 4% after Morgan Stanley upgraded the shoe brand, whose stock has struggled since it went public in November. Also, crypto exchange Coinbase rose nearly 1% following a Bank of America upgrade that said the company is broadening its business.Shares of Walgreens Boots Alliance gained 2.6% in premarket trading after reporting strong earnings for its latest quarter driven by customers going to stores for Covid treatments and at-home tests. Meanwhile, Bed Bath & Beyond shares fell about 9% after reporting a loss for its fiscal third quarter.Initial claims for unemployment insurance ticked up to 207,000 for the week ending Jan.1, the Labor Department reported Thursday. Economists surveyed by Dow Jones expect claims would total 195,000.The data comes a day ahead of the Labor Department’s key nonfarm payrolls report, which is expected to show that the economy added 422,000 jobs in December. However, payroll processing firm ADP reported Wednesday that companies added a much higher-than-expected 807,000 positions for the month, indicating a possible upside surprise to Friday’s count from the department’s Bureau of Labor Statistics.","news_type":1},"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9095886305,"gmtCreate":1644881937412,"gmtModify":1676533970709,"author":{"id":"4089706742679880","authorId":"4089706742679880","name":"greenmerlion","avatar":"https://static.tigerbbs.com/91b6431310f3fe5f383c87980016c954","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089706742679880","authorIdStr":"4089706742679880"},"themes":[],"htmlText":"Fun game&nbsp;","listText":"Fun game&nbsp;","text":"Fun game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9095886305","repostId":"9004448317","repostType":1,"repost":{"id":9004448317,"gmtCreate":1642676525258,"gmtModify":1676533734534,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"Join Tiger Ski Championship, Win a Bonus of Up to USD 2022","htmlText":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. 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