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2021-09-06

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2021-09-06

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15:20","market":"us","language":"en","title":"Apple is playing a shell game with its App Store changes, but that can’t last forever","url":"https://stock-news.laohu8.com/highlight/detail?id=1193251876","media":"MarketWatch","summary":"Small, confusing changes are unlikely to satisfy app developers and regulators who want major change","content":"<blockquote>\n <b>Small, confusing changes are unlikely to satisfy app developers and regulators who want major changes to a structure that pays app-store owners up to 30% of all revenue and is a major profit center for Apple.</b>\n</blockquote>\n<p>Apple Inc. has engaged in a flurry of deal making in hopes of quelling concerns about anticompetitive practices with its popular App Store, but the barrage of confusing — and in some cases miniscule — changes have a commonality: They keep the core of Apple’s nearly $70 billion cash cow intact.</p>\n<p>Apple AAPL,+0.42%&nbsp;in the past couple weeks has announced changes in the App Store as part of a settlement with a regulatory agencies in Japan and, separately, as part of a class action lawsuit settlement. The changes arrive as Apple’s App Store faces major scrutiny by regulators in the U.S. and worldwide, while waiting for a judge’s ruling in the landmark antitrust case filed against it by “Fortnite” maker Epic games Inc.</p>\n<p>The core problem with the App Store is that it charges developers high commissions for in-app purchases, up to 30%, while not allowing them to offer alternatives that could avoid that charge. The practice has made the App Store an increasingly huge and important business for Apple, especially as the growth of the iPhone has slowed. For fiscal 2020, Apple’s services business, of which the App Store is the core revenue generator, reported annual sales of $54 billion with growth of 16.2%, while iPhone sales fell 3% on an annual basis.</p>\n<p>Profit from Apple’s app fees are estimated to be stunning, according to one economist who testified during the Epic trial. He estimated the App Store has generated profit margins of 75% and 78%, respectively, in the last two years. Apple does not publicly disclose financial results of the App Store specifically.</p>\n<p>The most important concession came late Wednesday, when Apple said it would allow developers such as Netflix Inc. NFLX,+0.34%&nbsp;and Spotify Technology SA SPOT,-1.96%&nbsp;to provide their customers a link to their websites within the app that will allow the users to pay for their services outside of the App Store, sidestepping fees. The fine print shows how limited this change is, however: It only applies to “reader” apps that provide subscription content such as news, books, music and video, as well as content that users have previously purchased elsewhere.</p>\n<p>Spotify Chief Executive Daniel Ek tweeted on Thursday that Apple’s agreement may be a “step in the right direction,” but it does not solve the problem.</p>\n<p>“Our goal is to restore competition once and for all, not one arbitrary, self-serving step at a time,” Ek said on Twitter.</p>\n<p><img src=\"https://static.tigerbbs.com/6a28ef0362c75cbe41db83200186ac3b\" tg-width=\"501\" tg-height=\"707\" width=\"100%\" height=\"auto\">Ek made that comment even as shares of Spotify jumped 6% on Thursday, as investors hoped to see the unprofitable music-streaming company get a little closer to black ink on the blotter. For an example that shows the uneven treatment that Ek decries, though, take a look at Match Group Inc. MTCH,+0.73%</p>\n<p>It appears unlikely that Match’s apps, which offer subscriptions to dating services such as Tinder, will fit under the “reader” app carve-out, though an Apple spokesman declined to comment on any specific apps and Match Group officials did not respond to a request for comment. Yet it is one of the main faces of the movement against app stores after an executive testified at a U.S. Senate Judiciary Committee hearing on the anticompetitive nature of Apple’s App Store and Alphabet Inc.’s GOOG GOOGL Google Play store that Match pays half a billion dollars in fees to the two tech companies every year.</p>\n<p>Likewise, videogames are not mentioned in any of the settlements, as Apple waits to hear what Judge Yvonne Gonzalez Rodgers has to say about its battle with Epic. That means the money will definitely continue to flow in, as videogames are believed to generate the most sales in the App Store.</p>\n<p><b>Epic vs. Apple: The (predicted) verdict is in</b></p>\n<p>Both of these settlements offer very little change to the App Store and just add more confusion. Instead of just simply cutting their commission, Apple has new convoluted rules that are unlikely to lead to lower costs for most developers, who still have to jump through many hoops to get an app approved by the App Store and have little chance of convincing customers to jump through hoops of their own to avoid the app maker paying Apple’s fee.</p>\n<p>“The changes were made to settle a developer lawsuit and, similar to other recent changes, the impact will be relatively immaterial,” said Amit Daryanani, an analyst with Evercore ISI, in a note to clients. “We do not think many customers will choose to follow instructions in the email and re-enter payment information, as they do not receive any benefit from helping the developer avoid Apple’s fees.”</p>\n<p>The issue for Apple is that governments around the world are likely to see through this gambit and aim straight for the heart of the App Store’s revenue model. In South Korea, legislators passed a bill this week requiring both Apple and Google to allow alternate payment systems in apps, the first law of its kind in the world. A similarly targeted bill, called the Open App Markets Act, was introduced in the U.S. last month by three senators.</p>\n<p>While Tim Cook and the rest of the executives at Apple likely hope that this shell game of small, confusing concessions will be enough to stave off lawmakers, particularly in their home country, it is unlikely that app stores will escape from the current scrutiny without more major changes.</p>\n<p>“Over time, the fees are going to be pressured and the writing is on the wall,” said Ives of Wedbush Securities. “Apple will continue to make some olive branch moves, which puts them in good standing, given the pressure they are seeing…but I think they are going to aggressively defend their moat.”</p>\n<p>The fallout from this push will have ripple effects all over tech, and could lead to big changes for consumers as well — Spotify, for instance, said it raised prices from $9.99 to $12.99 largely to cover its app store fees. Major changes, however, could eventually cut more deeply into one of Apple’s biggest cash cows and slowly dig away at the moat surrounding Apple’s castle.</p>","source":"market_watch","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>Apple is playing a shell game with its App Store changes, but that can’t last forever </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\">\nApple is playing a shell game with its App Store changes, but that can’t last forever \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-06 15:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/apple-is-playing-a-shell-game-with-its-app-store-changes-but-that-cant-last-forever-11630692106?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Small, confusing changes are unlikely to satisfy app developers and regulators who want major changes to a structure that pays app-store owners up to 30% of all revenue and is a major profit center ...</p>\n\n<a href=\"https://www.marketwatch.com/story/apple-is-playing-a-shell-game-with-its-app-store-changes-but-that-cant-last-forever-11630692106?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/apple-is-playing-a-shell-game-with-its-app-store-changes-but-that-cant-last-forever-11630692106?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1193251876","content_text":"Small, confusing changes are unlikely to satisfy app developers and regulators who want major changes to a structure that pays app-store owners up to 30% of all revenue and is a major profit center for Apple.\n\nApple Inc. has engaged in a flurry of deal making in hopes of quelling concerns about anticompetitive practices with its popular App Store, but the barrage of confusing — and in some cases miniscule — changes have a commonality: They keep the core of Apple’s nearly $70 billion cash cow intact.\nApple AAPL,+0.42% in the past couple weeks has announced changes in the App Store as part of a settlement with a regulatory agencies in Japan and, separately, as part of a class action lawsuit settlement. The changes arrive as Apple’s App Store faces major scrutiny by regulators in the U.S. and worldwide, while waiting for a judge’s ruling in the landmark antitrust case filed against it by “Fortnite” maker Epic games Inc.\nThe core problem with the App Store is that it charges developers high commissions for in-app purchases, up to 30%, while not allowing them to offer alternatives that could avoid that charge. The practice has made the App Store an increasingly huge and important business for Apple, especially as the growth of the iPhone has slowed. For fiscal 2020, Apple’s services business, of which the App Store is the core revenue generator, reported annual sales of $54 billion with growth of 16.2%, while iPhone sales fell 3% on an annual basis.\nProfit from Apple’s app fees are estimated to be stunning, according to one economist who testified during the Epic trial. He estimated the App Store has generated profit margins of 75% and 78%, respectively, in the last two years. Apple does not publicly disclose financial results of the App Store specifically.\nThe most important concession came late Wednesday, when Apple said it would allow developers such as Netflix Inc. NFLX,+0.34% and Spotify Technology SA SPOT,-1.96% to provide their customers a link to their websites within the app that will allow the users to pay for their services outside of the App Store, sidestepping fees. The fine print shows how limited this change is, however: It only applies to “reader” apps that provide subscription content such as news, books, music and video, as well as content that users have previously purchased elsewhere.\nSpotify Chief Executive Daniel Ek tweeted on Thursday that Apple’s agreement may be a “step in the right direction,” but it does not solve the problem.\n“Our goal is to restore competition once and for all, not one arbitrary, self-serving step at a time,” Ek said on Twitter.\nEk made that comment even as shares of Spotify jumped 6% on Thursday, as investors hoped to see the unprofitable music-streaming company get a little closer to black ink on the blotter. For an example that shows the uneven treatment that Ek decries, though, take a look at Match Group Inc. MTCH,+0.73%\nIt appears unlikely that Match’s apps, which offer subscriptions to dating services such as Tinder, will fit under the “reader” app carve-out, though an Apple spokesman declined to comment on any specific apps and Match Group officials did not respond to a request for comment. Yet it is one of the main faces of the movement against app stores after an executive testified at a U.S. Senate Judiciary Committee hearing on the anticompetitive nature of Apple’s App Store and Alphabet Inc.’s GOOG GOOGL Google Play store that Match pays half a billion dollars in fees to the two tech companies every year.\nLikewise, videogames are not mentioned in any of the settlements, as Apple waits to hear what Judge Yvonne Gonzalez Rodgers has to say about its battle with Epic. That means the money will definitely continue to flow in, as videogames are believed to generate the most sales in the App Store.\nEpic vs. Apple: The (predicted) verdict is in\nBoth of these settlements offer very little change to the App Store and just add more confusion. Instead of just simply cutting their commission, Apple has new convoluted rules that are unlikely to lead to lower costs for most developers, who still have to jump through many hoops to get an app approved by the App Store and have little chance of convincing customers to jump through hoops of their own to avoid the app maker paying Apple’s fee.\n“The changes were made to settle a developer lawsuit and, similar to other recent changes, the impact will be relatively immaterial,” said Amit Daryanani, an analyst with Evercore ISI, in a note to clients. “We do not think many customers will choose to follow instructions in the email and re-enter payment information, as they do not receive any benefit from helping the developer avoid Apple’s fees.”\nThe issue for Apple is that governments around the world are likely to see through this gambit and aim straight for the heart of the App Store’s revenue model. In South Korea, legislators passed a bill this week requiring both Apple and Google to allow alternate payment systems in apps, the first law of its kind in the world. A similarly targeted bill, called the Open App Markets Act, was introduced in the U.S. last month by three senators.\nWhile Tim Cook and the rest of the executives at Apple likely hope that this shell game of small, confusing concessions will be enough to stave off lawmakers, particularly in their home country, it is unlikely that app stores will escape from the current scrutiny without more major changes.\n“Over time, the fees are going to be pressured and the writing is on the wall,” said Ives of Wedbush Securities. “Apple will continue to make some olive branch moves, which puts them in good standing, given the pressure they are seeing…but I think they are going to aggressively defend their moat.”\nThe fallout from this push will have ripple effects all over tech, and could lead to big changes for consumers as well — Spotify, for instance, said it raised prices from $9.99 to $12.99 largely to cover its app store fees. Major changes, however, could eventually cut more deeply into one of Apple’s biggest cash cows and slowly dig away at the moat surrounding Apple’s castle.","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817344689,"gmtCreate":1630913372341,"gmtModify":1676530419076,"author":{"id":"4092528474599280","authorId":"4092528474599280","name":"mike1234","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092528474599280","authorIdStr":"4092528474599280"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/817344689","repostId":"1126654067","repostType":4,"repost":{"id":"1126654067","pubTimestamp":1630885254,"share":"https://ttm.financial/m/news/1126654067?lang=&edition=fundamental","pubTime":"2021-09-06 07:40","market":"us","language":"en","title":"Is the U.S. stock market open on Labor Day?","url":"https://stock-news.laohu8.com/highlight/detail?id=1126654067","media":"MarketWatch","summary":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be cl","content":"<p>It is unofficially summer’s last hurrah for Wall Street investors.</p>\n<p>U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p>\n<p>On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p>\n<p>The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p>\n<p>Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p>\n<p>However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p>\n<p>Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p>\n<p>Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p>\n<p>Probably not.</p>\n<p>But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p>\n<p>The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p>\n<p>But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p>\n<p>It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p>\n<p>Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nIs the U.S. stock market open on Labor Day?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-06 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has ...</p>\n\n<a href=\"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","ICE":"洲际交易所",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126654067","content_text":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.\nOn Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc. -owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average, S&P 500 or Nasdaq Composite indexes.\nThe S&P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite was on track to book its 35th all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.\nSifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was yielding around 1.33% after the U.S. August jobs report came in weaker than expected.\nHowever, the Labor Department’s employment report,which showed that 235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.\nTrading in most commodity futures, including Nymex crude-oil and Comex gold,on U.S. exchanges will also be halted Monday.\nIs there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?\nProbably not.\nBut the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.\nDOW JONES MARKET DATA\nThe S&P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.\nDOW JONES MARKET DATA\nBut if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.\nIt is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.\nMarkets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100 index and the pan-European Stoxx Europe 600 will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng and the Shanghai Composite Index.","news_type":1},"isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}