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- One_truthOne_truth
  ·2021-07-13
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  China’s U.S. IPO Queue to Shrink Amid Regulatory Crackdown
  (Bloomberg) -- China’s crackdown on U.S. initial public offerings by its companies has put its burge
  China’s U.S. IPO Queue to Shrink Amid Regulatory Crackdown
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- One_truthOne_truth
  ·2021-07-13
  Interesting article
  Is Nvidia Stock A Buy Now Before Its Stock Splits?
  Summary NVIDIA has announced a stock split, and here's what you need to know about it. Stock splits
  Is Nvidia Stock A Buy Now Before Its Stock Splits?
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- One_truthOne_truth
  ·2021-07-13
  Agree!
  Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings
  Dow ends just shy of 35,000 milestone. The Dow Jones Industrial Average, S&P 500 index and Nasdaq C
  Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings
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There are about 70 other private firms based in Hong Kong and China set to go public in New York, according to data compiled by Bloomberg.</p>\n<p>The broadened scrutiny by Beijing on U.S. offerings by its firms is going to close off a deep and liquid market for many of China’s smaller growth companies who would otherwise be unlikely to be able to meet the bar for listing back home or in Hong Kong.</p>\n<p>Big companies, too, have been affected: TikTok owner ByteDance Ltd. is working to ensure it complies with data security requirements before going public after meetings with Chinese government officials over the issue earlier this year, people familiar with the matter said.</p>\n<p>The company has not “shelved” its IPO plans and had not decided on specific timing, two of the people said, asking not to be identified discussing private information. The Wall Street Journal earlier reported that ByteDance had put its intentions to go public on hold indefinitely.</p>\n<p>“Recent developments regarding overseas listings or related data security risks have put a downside risk to the Chinese tech sector,” said Mathieu Racheter, the head of equity strategy at Julius Baer Group Ltd. in Zurich.</p>\n<p>So far this year, 37 Chinese companies have listed in the U.S., raising about $13 billion in all, according to Bloomberg data. That’s the highest for such a year-to-date period on record and almost exceeds the full-year tally for 2020.</p>\n<p>Last week, medical data firm LinkDoc Technology Ltd. pulled a New York float that could have raised as much as $211 million, with people familiar with the deal citing market volatility. That happened just after Beijing said Tuesday that rules for overseas listings would be revised and publicly traded firms held accountable for keeping their data secure.</p>\n<p>Why China and U.S. Are Clashing Over Stock Listings: QuickTake</p>\n<p>These restrictions came as authorities ordered virtual stores remove apps from recently listed ride-hailing giant Didi Global Inc. days after its U.S. listing and restrained the ability of tech firms to raise capital through variable interest entity structures, which have allowed Chinese companies in sensitive industries like Didi and Alibaba Group Holding Ltd. bypass foreign owernship restrictions.</p>\n<p>LinkDoc isn’t the only deal put on hold, according to media reports. SoftBank Group Corp-backed Chinese fitness app Keep opted not to go ahead with its U.S. filing, according to the Financial Times, and e-commerce startup Meicai also put its float on hold, the South China Morning Post reported on July 9.</p>\n<p>Apart from ByteDance, another closely watched U.S. listing hopeful is Lalamove, known as Huolala on the mainland. The Hong Kong-based delivery company backed by Tiger Global had filed confidentially for a U.S. IPO, Bloomberg reported on June 24.</p>\n<p>Beijing’s spotlight on the tech sector is already taking a toll even on Hong Kong-traded firms. TikTok rival Kuaishou Technology, which pulled off the world’s biggest share sale of 2021, slumped 17% last week, while New York-traded Baidu Inc. is down 30% since its secondary listing in the offshore Chinese city in March.</p>\n<p>Any “listings in the pipeline that were planning to head to the U.S. will have to rethink strategy and instead focus on a primary listing in Hong Kong,” Ramiz Chelat, a portolio manager at Vontobel Asset Management, wrote in a note. “This is all part of the ‘coming home’ strategy.”</p>\n<p>(Adds updated table with deals sizes or valuations.)</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s U.S. IPO Queue to Shrink Amid Regulatory Crackdown</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\">\nChina’s U.S. IPO Queue to Shrink Amid Regulatory Crackdown\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 10:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/china-u-ipo-queue-shrink-010250750.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- China’s crackdown on U.S. initial public offerings by its companies has put its burgeoning pipeline of potential listings at risk.\nA medical data company, a fitness app and an e-...</p>\n\n<a href=\"https://finance.yahoo.com/news/china-u-ipo-queue-shrink-010250750.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/china-u-ipo-queue-shrink-010250750.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127992697","content_text":"(Bloomberg) -- China’s crackdown on U.S. initial public offerings by its companies has put its burgeoning pipeline of potential listings at risk.\nA medical data company, a fitness app and an e-commerce platform have, in the past week, postponed plans to go public in the U.S., as Beijing cracks down on tech and data-heavy firms listing stateside. There are about 70 other private firms based in Hong Kong and China set to go public in New York, according to data compiled by Bloomberg.\nThe broadened scrutiny by Beijing on U.S. offerings by its firms is going to close off a deep and liquid market for many of China’s smaller growth companies who would otherwise be unlikely to be able to meet the bar for listing back home or in Hong Kong.\nBig companies, too, have been affected: TikTok owner ByteDance Ltd. is working to ensure it complies with data security requirements before going public after meetings with Chinese government officials over the issue earlier this year, people familiar with the matter said.\nThe company has not “shelved” its IPO plans and had not decided on specific timing, two of the people said, asking not to be identified discussing private information. The Wall Street Journal earlier reported that ByteDance had put its intentions to go public on hold indefinitely.\n“Recent developments regarding overseas listings or related data security risks have put a downside risk to the Chinese tech sector,” said Mathieu Racheter, the head of equity strategy at Julius Baer Group Ltd. in Zurich.\nSo far this year, 37 Chinese companies have listed in the U.S., raising about $13 billion in all, according to Bloomberg data. That’s the highest for such a year-to-date period on record and almost exceeds the full-year tally for 2020.\nLast week, medical data firm LinkDoc Technology Ltd. pulled a New York float that could have raised as much as $211 million, with people familiar with the deal citing market volatility. That happened just after Beijing said Tuesday that rules for overseas listings would be revised and publicly traded firms held accountable for keeping their data secure.\nWhy China and U.S. Are Clashing Over Stock Listings: QuickTake\nThese restrictions came as authorities ordered virtual stores remove apps from recently listed ride-hailing giant Didi Global Inc. days after its U.S. listing and restrained the ability of tech firms to raise capital through variable interest entity structures, which have allowed Chinese companies in sensitive industries like Didi and Alibaba Group Holding Ltd. bypass foreign owernship restrictions.\nLinkDoc isn’t the only deal put on hold, according to media reports. SoftBank Group Corp-backed Chinese fitness app Keep opted not to go ahead with its U.S. filing, according to the Financial Times, and e-commerce startup Meicai also put its float on hold, the South China Morning Post reported on July 9.\nApart from ByteDance, another closely watched U.S. listing hopeful is Lalamove, known as Huolala on the mainland. The Hong Kong-based delivery company backed by Tiger Global had filed confidentially for a U.S. IPO, Bloomberg reported on June 24.\nBeijing’s spotlight on the tech sector is already taking a toll even on Hong Kong-traded firms. TikTok rival Kuaishou Technology, which pulled off the world’s biggest share sale of 2021, slumped 17% last week, while New York-traded Baidu Inc. is down 30% since its secondary listing in the offshore Chinese city in March.\nAny “listings in the pipeline that were planning to head to the U.S. will have to rethink strategy and instead focus on a primary listing in Hong Kong,” Ramiz Chelat, a portolio manager at Vontobel Asset Management, wrote in a note. “This is all part of the ‘coming home’ strategy.”\n(Adds updated table with deals sizes or valuations.)","news_type":1},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142637552,"gmtCreate":1626145234476,"gmtModify":1703754250995,"author":{"id":"4087971230651070","authorId":"4087971230651070","name":"One_truth","avatar":"https://static.tigerbbs.com/b3a1ab829cb9456e2592ef03351e05d8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087971230651070","authorIdStr":"4087971230651070"},"themes":[],"htmlText":"Interesting article&nbsp;","listText":"Interesting article&nbsp;","text":"Interesting article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/142637552","repostId":"1142072504","repostType":4,"repost":{"id":"1142072504","pubTimestamp":1626142838,"share":"https://ttm.financial/m/news/1142072504?lang=&edition=fundamental","pubTime":"2021-07-13 10:20","market":"us","language":"en","title":"Is Nvidia Stock A Buy Now Before Its Stock Splits?","url":"https://stock-news.laohu8.com/highlight/detail?id=1142072504","media":"seekingalpha","summary":"Summary\n\nNVIDIA has announced a stock split, and here's what you need to know about it.\nStock splits","content":"<p><b>Summary</b></p>\n<ul>\n <li>NVIDIA has announced a stock split, and here's what you need to know about it.</li>\n <li>Stock splits can lead to irrational price movements in the near term, but in the long run, growth and valuation will be the important drivers for a stock's performance.</li>\n <li>NVIDIA experiences strong growth and is well-positioned to grow further, but its shares are historically expensive today.</li>\n</ul>\n<p><b>Article Thesis</b></p>\n<p>NVIDIA Corporation(NASDAQ:NVDA)announced a stock splitthat will go into effect on July 20. Other companies, such as Apple(NASDAQ:AAPL)and Tesla(NASDAQ:TSLA)have seen their shares do well following stock splits last year, but I still don't think it's a good idea to buy solely due to an announced stock split. NVIDIA's shares are expensive, but on the other hand, the company is growing fast and has a lot of room for growth in the coming years. For long-term oriented investors, NVIDIA could be a solid investment, although waiting for a correction to get a more favorable entry price could pay off.</p>\n<p><img src=\"https://static.tigerbbs.com/0f30d3b4db0860b4fdf506081129744f\" tg-width=\"640\" tg-height=\"191\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Source:StockRover</i></p>\n<p>We see that NVIDIA is currently trading at a steep premium compared to many of its peers, while also offering a dividend yield that is well below the average. To some degree, the premium seems justified due to NVIDIA's strong growth outlook.</p>\n<p><b>NVIDIA Stock Price</b></p>\n<p>NVIDIA Corporation has been one of the best performers in recent years, as the company saw its share price explode upwards due to a combination of fast growth, crypto mining tailwinds, a PC gaming boom that is great for NVIDIA's GPU segment, and the market's admiration for growth stocks:</p>\n<p><img src=\"https://static.tigerbbs.com/0ad45b1496adb2223717daa54a2e02f3\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\">Data by YCharts</p>\n<p>Over the last ten years, NVIDIA saw its shares deliver an incredible 4,900% return, turning a $10,000 investment into $500,000. Even in 2021, which saw some growth stocks underperform, NVIDIA has done very well so far, as its shares rose by around 50% during the first half.</p>\n<p>At $815 per share, NVIDIA is currently trading just a couple of percentage points below its all-time high. The current consensus price target by the analyst community is $750, thus shares do seem rather expensive. If the analyst community is right, then NVIDIA will not generate compelling returns over the next year. One could indeed argue that shares have run too far this year and that a phase of consolidation would make sense, as the company's business growth has to catch up to the massive 50% share price increase in H1 alone. Based on current EPS estimates for this year, shares trade for 51x forward earnings -- again, this seems rather expensive, which may indicate that right now may not be the best time to enter or expand a position.</p>\n<p><b>Is NVIDIA Stock Going To Split Soon?</b></p>\n<p>The announced stock split will go into effect on July 20. On that day, NVIDIA's shares are split at a 4-1 rate, which will make the share count grow to ~2.5 billion on a fully diluted basis. Shares should then trade for a little above $200, all else equal, although it is of course possible that NVIDIA's shares rise or fall between the time of writing and July 20.</p>\n<p><b>Is It Better To Buy Before Or After A Stock Split?</b></p>\n<p>In theory, a stock split does not change the value of the underlying company; it just leads to the company being divided into more individual shares. There are, however, some psychological factors at play that can lead to share price performance being influenced by stock splits. First, shares may appear cheaper at first sight for those that do not look at metrics such as the earnings multiple, which may incite buying. On top of that, some investors seem to erroneously believe that buying shares before a stock split will somehow get them a larger part of the company once the stock split happens, which is, of course, not true. Investors will end up owning more shares than they originally purchased pre-split, but those shares won't amount to a greater ownership of the company.</p>\n<p>Stock splits may also influence the likelihood of a company getting into an index such as the Dow Jones Industrial Average(NYSEARCA:DIA), which could then lead to additional demand from ETFs that replicate the index. In that way, a stock split can lead to higher share prices eventually, as the supply/demand ratio changes.</p>\n<p>In the past, when fractional share buying was not available for most investors, stock splits also could lead to more buying due to making shares more affordable for some investors. In today's environment, where fractional share buying is ubiquitous, that is not really the case any longer, however.</p>\n<p>Last year, two major companies, Tesla and Apple, split their stocks, which led to increased buying in both companies:</p>\n<p><img src=\"https://static.tigerbbs.com/ad201a51d0c4eec6a6f9254a3509d062\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\">Data by YCharts</p>\n<p>Between July 30, 2020, and August 31, 2020, the date of the announcement of the upcoming stock split and the date of the actual stock split, Apple's shares rose rapidly, easily outperforming the market. That was likely not solely the result of the announced stock split, but it seems likely that this played a role in Apple's share price surge during that one-month period. In the month following the stock split, AAPL saw its shares decline by 12%.</p>\n<p>Tesla, meanwhile, saw its shares rise by an incredible 81% in the time frame between the announcement of the stock split and the actual split, which was about half a month. Tesla's shares also declined by a little more than 10% during the month following the actual stock split. One could thus, it seems, make a case that buying shares of major companies when they announce a stock split and selling shares when the split happens could make sense. There is, however, no guarantee for this scenario to play out every time, and it is very much possible that the two examples above are outliers that are not representative of overall stock performance prior to and following a stock split.</p>\n<p>NVDA has seen its shares rise by 15%+ since the company announced its current stock split, thus possibly, we could see a similar pattern to what happened with Tesla and Apple, although at a less pronounced rate. NVDA has outperformed the broad market following the split announcement, and that may at least partially be the result of traders piling into the stock hoping for short-term gains.</p>\n<p>A1996 studyby David Ikenberry of Rice University shows that, at least in the 1980s and 1990s, stock splits oftentimes resulted in outperformance<i>following</i>the stock split. The stock price gains seen by TSLA and AAPL immediately<i>prior</i>to the stock split may be outliers.</p>\n<p>Overall, we can thus summarize that stock splits do not impact the underlying value of the company. Due to psychological factors, however, there may be irrational price movements in a stock's price prior to or following a stock split. Buying based on expectations of such movements is a strategy I would avoid, however, as it can't be foreseen whether these price moves do really materialize. Stock investments should, I believe, primarily be driven by factors such as growth, valuation, dividends, etc.</p>\n<p><b>Is NVIDIA Stock A Buy Or Sell Now?</b></p>\n<p>I wouldn't buy or sell based on news around a stock split alone, thus whether one wants to invest in NVIDIA is a question that I would approach from another side. Is the growth strong enough to justify paying a 50x earnings multiple?</p>\n<p><img src=\"https://static.tigerbbs.com/92e9f946709618e90dea6ed23a0e5977\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\">Data by YCharts</p>\n<p>NVDA is currently not only trading at a premium to most of its peers, but shares are also trading at a premium relative to how they were valued in the past. This is despite the fact that NVIDIA is a much larger company today than it was 5 or 10 years ago. Due to the fact that the law of large numbers will likely result in growth rates that are lower than what NVIDIA has delivered in the past, it seems questionable whether it's sensible for NVIDIA to be<i>more</i>expensive than it used to be.</p>\n<p>Nevertheless, since NVIDIA is experiencing very healthy growth still, and will continue to grow in the coming years, returns don't have to be bad. A while ago I laid out a scenario that results in ashare price of around $1,200for NVIDIA in 2027, which would equate to annual returns of around 7% from today's price -- not bad at all, but significantly less than what NVIDIA delivered in the past. In that scenario, NVIDIA grows its EPS to around $38 over the next six years, or by around 140% versus current estimates for 2021. I also calculated with an earnings multiple of around 30, which is much closer to how NVIDIA's shares were historically valued, compared to the current valuation. One can, of course, argue whether my growth estimates are too high or too low, but I found this to be a solid base case scenario. Using that price target to gauge whether NVIDIA is attractive today, I'd say shares are not a bad holding at all, but the return outlook does not convince me to enter a position here. If shares fell back to the $500 level, where they traded just a couple of months ago, the story would be a very different one, however -- at that point, buying could lead to compelling long-term returns.</p>\n<p><b>Takeaway</b></p>\n<p>NVIDIA will split its shares soon, but that alone is not a good reason to buy shares. TSLA and AAPL have seen their shares underperform following the stock split, at least for a while, and the same may happen for NVIDIA, although there is no guarantee for that. In the long run, i.e. over several years, stock splits tend to correlate with an above-average performance, but again, there is no guarantee that this will happen here.</p>\n<p>Due to the above-average valuation and due to the fact that shares trade at a premium to the analyst price target, I wouldn't buy shares here, despite NVIDIA's compelling growth outlook. If shares give back some of their gains from 2021, buying into a position could lead to attractive long-term returns, however.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Nvidia Stock A Buy Now Before Its Stock Splits?</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\">\nIs Nvidia Stock A Buy Now Before Its Stock Splits?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 10:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438814-nvidia-stock-buy-before-stock-split><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNVIDIA has announced a stock split, and here's what you need to know about it.\nStock splits can lead to irrational price movements in the near term, but in the long run, growth and valuation ...</p>\n\n<a href=\"https://seekingalpha.com/article/4438814-nvidia-stock-buy-before-stock-split\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4438814-nvidia-stock-buy-before-stock-split","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1142072504","content_text":"Summary\n\nNVIDIA has announced a stock split, and here's what you need to know about it.\nStock splits can lead to irrational price movements in the near term, but in the long run, growth and valuation will be the important drivers for a stock's performance.\nNVIDIA experiences strong growth and is well-positioned to grow further, but its shares are historically expensive today.\n\nArticle Thesis\nNVIDIA Corporation(NASDAQ:NVDA)announced a stock splitthat will go into effect on July 20. Other companies, such as Apple(NASDAQ:AAPL)and Tesla(NASDAQ:TSLA)have seen their shares do well following stock splits last year, but I still don't think it's a good idea to buy solely due to an announced stock split. NVIDIA's shares are expensive, but on the other hand, the company is growing fast and has a lot of room for growth in the coming years. For long-term oriented investors, NVIDIA could be a solid investment, although waiting for a correction to get a more favorable entry price could pay off.\n\nSource:StockRover\nWe see that NVIDIA is currently trading at a steep premium compared to many of its peers, while also offering a dividend yield that is well below the average. To some degree, the premium seems justified due to NVIDIA's strong growth outlook.\nNVIDIA Stock Price\nNVIDIA Corporation has been one of the best performers in recent years, as the company saw its share price explode upwards due to a combination of fast growth, crypto mining tailwinds, a PC gaming boom that is great for NVIDIA's GPU segment, and the market's admiration for growth stocks:\nData by YCharts\nOver the last ten years, NVIDIA saw its shares deliver an incredible 4,900% return, turning a $10,000 investment into $500,000. Even in 2021, which saw some growth stocks underperform, NVIDIA has done very well so far, as its shares rose by around 50% during the first half.\nAt $815 per share, NVIDIA is currently trading just a couple of percentage points below its all-time high. The current consensus price target by the analyst community is $750, thus shares do seem rather expensive. If the analyst community is right, then NVIDIA will not generate compelling returns over the next year. One could indeed argue that shares have run too far this year and that a phase of consolidation would make sense, as the company's business growth has to catch up to the massive 50% share price increase in H1 alone. Based on current EPS estimates for this year, shares trade for 51x forward earnings -- again, this seems rather expensive, which may indicate that right now may not be the best time to enter or expand a position.\nIs NVIDIA Stock Going To Split Soon?\nThe announced stock split will go into effect on July 20. On that day, NVIDIA's shares are split at a 4-1 rate, which will make the share count grow to ~2.5 billion on a fully diluted basis. Shares should then trade for a little above $200, all else equal, although it is of course possible that NVIDIA's shares rise or fall between the time of writing and July 20.\nIs It Better To Buy Before Or After A Stock Split?\nIn theory, a stock split does not change the value of the underlying company; it just leads to the company being divided into more individual shares. There are, however, some psychological factors at play that can lead to share price performance being influenced by stock splits. First, shares may appear cheaper at first sight for those that do not look at metrics such as the earnings multiple, which may incite buying. On top of that, some investors seem to erroneously believe that buying shares before a stock split will somehow get them a larger part of the company once the stock split happens, which is, of course, not true. Investors will end up owning more shares than they originally purchased pre-split, but those shares won't amount to a greater ownership of the company.\nStock splits may also influence the likelihood of a company getting into an index such as the Dow Jones Industrial Average(NYSEARCA:DIA), which could then lead to additional demand from ETFs that replicate the index. In that way, a stock split can lead to higher share prices eventually, as the supply/demand ratio changes.\nIn the past, when fractional share buying was not available for most investors, stock splits also could lead to more buying due to making shares more affordable for some investors. In today's environment, where fractional share buying is ubiquitous, that is not really the case any longer, however.\nLast year, two major companies, Tesla and Apple, split their stocks, which led to increased buying in both companies:\nData by YCharts\nBetween July 30, 2020, and August 31, 2020, the date of the announcement of the upcoming stock split and the date of the actual stock split, Apple's shares rose rapidly, easily outperforming the market. That was likely not solely the result of the announced stock split, but it seems likely that this played a role in Apple's share price surge during that one-month period. In the month following the stock split, AAPL saw its shares decline by 12%.\nTesla, meanwhile, saw its shares rise by an incredible 81% in the time frame between the announcement of the stock split and the actual split, which was about half a month. Tesla's shares also declined by a little more than 10% during the month following the actual stock split. One could thus, it seems, make a case that buying shares of major companies when they announce a stock split and selling shares when the split happens could make sense. There is, however, no guarantee for this scenario to play out every time, and it is very much possible that the two examples above are outliers that are not representative of overall stock performance prior to and following a stock split.\nNVDA has seen its shares rise by 15%+ since the company announced its current stock split, thus possibly, we could see a similar pattern to what happened with Tesla and Apple, although at a less pronounced rate. NVDA has outperformed the broad market following the split announcement, and that may at least partially be the result of traders piling into the stock hoping for short-term gains.\nA1996 studyby David Ikenberry of Rice University shows that, at least in the 1980s and 1990s, stock splits oftentimes resulted in outperformancefollowingthe stock split. The stock price gains seen by TSLA and AAPL immediatelypriorto the stock split may be outliers.\nOverall, we can thus summarize that stock splits do not impact the underlying value of the company. Due to psychological factors, however, there may be irrational price movements in a stock's price prior to or following a stock split. Buying based on expectations of such movements is a strategy I would avoid, however, as it can't be foreseen whether these price moves do really materialize. Stock investments should, I believe, primarily be driven by factors such as growth, valuation, dividends, etc.\nIs NVIDIA Stock A Buy Or Sell Now?\nI wouldn't buy or sell based on news around a stock split alone, thus whether one wants to invest in NVIDIA is a question that I would approach from another side. Is the growth strong enough to justify paying a 50x earnings multiple?\nData by YCharts\nNVDA is currently not only trading at a premium to most of its peers, but shares are also trading at a premium relative to how they were valued in the past. This is despite the fact that NVIDIA is a much larger company today than it was 5 or 10 years ago. Due to the fact that the law of large numbers will likely result in growth rates that are lower than what NVIDIA has delivered in the past, it seems questionable whether it's sensible for NVIDIA to bemoreexpensive than it used to be.\nNevertheless, since NVIDIA is experiencing very healthy growth still, and will continue to grow in the coming years, returns don't have to be bad. A while ago I laid out a scenario that results in ashare price of around $1,200for NVIDIA in 2027, which would equate to annual returns of around 7% from today's price -- not bad at all, but significantly less than what NVIDIA delivered in the past. In that scenario, NVIDIA grows its EPS to around $38 over the next six years, or by around 140% versus current estimates for 2021. I also calculated with an earnings multiple of around 30, which is much closer to how NVIDIA's shares were historically valued, compared to the current valuation. One can, of course, argue whether my growth estimates are too high or too low, but I found this to be a solid base case scenario. Using that price target to gauge whether NVIDIA is attractive today, I'd say shares are not a bad holding at all, but the return outlook does not convince me to enter a position here. If shares fell back to the $500 level, where they traded just a couple of months ago, the story would be a very different one, however -- at that point, buying could lead to compelling long-term returns.\nTakeaway\nNVIDIA will split its shares soon, but that alone is not a good reason to buy shares. TSLA and AAPL have seen their shares underperform following the stock split, at least for a while, and the same may happen for NVIDIA, although there is no guarantee for that. In the long run, i.e. over several years, stock splits tend to correlate with an above-average performance, but again, there is no guarantee that this will happen here.\nDue to the above-average valuation and due to the fact that shares trade at a premium to the analyst price target, I wouldn't buy shares here, despite NVIDIA's compelling growth outlook. If shares give back some of their gains from 2021, buying into a position could lead to attractive long-term returns, however.","news_type":1},"isVote":1,"tweetType":1,"viewCount":35,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142635575,"gmtCreate":1626145124697,"gmtModify":1703754248238,"author":{"id":"4087971230651070","authorId":"4087971230651070","name":"One_truth","avatar":"https://static.tigerbbs.com/b3a1ab829cb9456e2592ef03351e05d8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087971230651070","authorIdStr":"4087971230651070"},"themes":[],"htmlText":"Agree!","listText":"Agree!","text":"Agree!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/142635575","repostId":"1119839711","repostType":4,"repost":{"id":"1119839711","pubTimestamp":1626126339,"share":"https://ttm.financial/m/news/1119839711?lang=&edition=fundamental","pubTime":"2021-07-13 05:45","market":"us","language":"en","title":"Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1119839711","media":"MarketWatch","summary":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq C","content":"<blockquote>\n <b>Dow ends just shy of 35,000 milestone.</b>\n</blockquote>\n<p>The Dow Jones Industrial Average, S&amp;P 500 index and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.</p>\n<p>The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.</p>\n<p><b>How did stock benchmarks end?</b></p>\n<ul>\n <li>The Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.</li>\n <li>S&amp;P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.</li>\n <li>Nasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.</li>\n</ul>\n<p>On Friday, the Dow and S&amp;P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.</p>\n<p><b>What drove the market?</b></p>\n<p>Major stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, which<b><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> &amp; Co</b>.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a>, and fresh readings on inflation.</p>\n<p>“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of <a href=\"https://laohu8.com/S/EQR\">Equity</a> Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in <a href=\"https://laohu8.com/S/WASH\">Washington</a> over planned infrastructure spending and potentially higher corporate taxes.</p>\n<p>“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.</p>\n<p>Equity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.</p>\n<p>Questions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.</p>\n<p>Yields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.</p>\n<p>Federal Reserve Bank ofNew York President John <a href=\"https://laohu8.com/S/WMB\">Williams</a> told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.</p>\n<p>Although inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.</p>\n<p>“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.</p>\n<p>“Markets may remain volatile as they attempt to adjust to the rapidly&nbsp;evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.</p>\n<p>“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, <a href=\"https://laohu8.com/S/OXM\">Oxford</a> Economics’ director of global macro research wrote Monday.</p>\n<p>No key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.</p>\n<p>Separately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.</p>\n<p>“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.</p>\n<p>“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.</p>\n<p><b>Which companies were in focus?</b></p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/AVGO\">Broadcom</a> Inc</b>.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.</li>\n <li><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc</b>.AAPL,-0.42%&nbsp;shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.</li>\n <li><b><a href=\"https://laohu8.com/S/LB\">L Brands Inc</a></b>.LB,+4.16%&nbsp;said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret &amp; Co.‘s underwear unit as “VSCO,” while the Bath &amp; BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.</li>\n <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a>&nbsp;Inc</b>.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.</li>\n <li>Weber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to&nbsp;trade on the <a href=\"https://laohu8.com/S/NWY\">New York</a> Stock Exchange under the ticker WEBR.</li>\n <li>Shares of<b><a href=\"https://laohu8.com/S/SPCE.WS\">Virgin Galactic Holdings Inc</a>.</b>&nbsp;SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into&nbsp;suborbital space on the company’s VSS <a href=\"https://laohu8.com/S/UNTY\">Unity</a>&nbsp;rocket-powered spaceplane.</li>\n <li><b>Couchbase Inc</b>.&nbsp;BASE,&nbsp;a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’</li>\n <li>Shares of<b>Moderna Inc</b>.&nbsp;MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.</li>\n <li>Shares of<b><a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a>.</b>&nbsp;SWI&nbsp;were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.</li>\n</ul>\n<p><b>How did other assets trade?</b></p>\n<ul>\n <li>The ICE U.S. Dollar Index&nbsp;DXY,&nbsp;a measure of the currency against six major rivals, was up 0.1%.</li>\n <li>Oil futures closed lower Monday, with the U.S. benchmark&nbsp;CL00&nbsp;CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold&nbsp;GC00&nbsp;settled 0.3% lower at $1,805.90 an ounce.</li>\n <li>In European equities, the Stoxx Europe 600&nbsp;SXXP&nbsp;closed 0.7% higher, while London’s <a href=\"https://laohu8.com/S/.100.UK\">FTSE 100</a>&nbsp;UKX&nbsp;finished up 0.05% on Monday.</li>\n <li>In <a href=\"https://laohu8.com/S/00662\">Asia</a>, the Shanghai Composite&nbsp;SHCOMP&nbsp;gained 0.7%, Hong Kong’s Hang Seng Index&nbsp;HSI&nbsp;rose 0.6% on the session and Japan’s Nikkei 225&nbsp;NIK&nbsp;rallied 2.3% on Monday.</li>\n</ul>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank 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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow narrowly misses first close at 35,000 but all 3 stock indexes log back-to-back record finishes ahead of bank earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 05:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended ...</p>\n\n<a href=\"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/dow-set-for-pullback-from-records-tech-stocks-seen-buoyant-as-investors-await-earnings-powell-and-fresh-inflation-data-11626089989?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119839711","content_text":"Dow ends just shy of 35,000 milestone.\n\nThe Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite on Monday advanced to back-to-back record finishes, starting the week the way the ended last week.\nThe record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.\nHow did stock benchmarks end?\n\nThe Dow Jones Industrial AverageDJIA,+0.36%rose 126.02 points, or 0.4%, to end at a record 34,996.18.\nS&P 500 indexSPX,+0.35%added 15.08 points, or 0.4%, closing at a record 4,384.63, after touching an intraday high at 4,386.68.\nNasdaq Composite IndexCOMP,+0.21%advanced 31.32 points, or 0.2%, finishing at a record 14,733.24, after establishing an intraday all-time high at 14,761.08.\n\nOn Friday, the Dow and S&P 500 finished the session at record highs, booking weekly gains of about 0.2% and 0.4%, respectively. The Nasdaq Composite finished the week at an all-time high with a 0.4% weekly gain.\nWhat drove the market?\nMajor stock indexes rose to back-to-back closing records on Monday. The advance came ahead of a number of key events that could serve as catalysts later in the week, including the unofficial start of earnings season, whichJPMorgan Chase & Co.JPM,+1.43%will kick off Tuesday, Powell’s testimony on Capitol Hill, and fresh readings on inflation.\n“People are thinking earnings are going to be strong and that may propel the market higher,” said John Carey, director of Equity Income at Amundi U.S., adding that, for now, earnings have overshadowed uncertainty in Washington over planned infrastructure spending and potentially higher corporate taxes.\n“Most people seem to be focused on the strength of the economy and the possibility of better earnings to support stock prices, which are definitely at high levels,” Carey told MarketWatch.\nEquity markets experienced a bout of turbulence last week before ending with a flourish, prompted partly by a drop in Treasury yields. Lower-bound rates for government debt had raised questions about the outlook for the U.S. economy in the recovery from the pandemic. The spread of the delta variant of COVID-19 has emerged as a concern, but so has the lofty valuations assigned to some segments of the market.\nQuestions about the Fed’s monetary policy in the face of growing evidence of percolating inflation also have been blamed for some of the rocky trading.\nYields for the 10-yearTMUBMUSD10Y,1.365%edged up less than a basis point to 1.362% on Monday, while the 30-year Treasury yieldsTMUBMUSD30Y,2.000%advanced by 1.2 basis points to 1.993%, near lows last seen in February.\nFederal Reserve Bank ofNew York President John Williams told reportersMonday that conditions for scaling back its $120 billion a month bond-buying stimulus program have yet to be met.\nAlthough inflation and peak growth concerns continue to percolate andworry U.S. households, some strategists said those concerns may be “over-hyped” for markets.\n“Both the previous inflation concerns and the current peak growth concerns are likely over-extrapolated reflections of near-term trends that will not persist,” Glenmede’s team led by Jason Pride and Michael Reynolds, wrote in a Monday note.\n“Markets may remain volatile as they attempt to adjust to the rapidly evolving information flow during the ongoing recovery from the pandemic,” but those factors “should not be disruptive of markets longer term.”\nInvestors also have been keeping an eye on delta-driven COVID infections. The U.S. leads the world with a total of 33.85 million COVID cases and in deaths with 607,156. Dr. Anthony Fauci said on Monday thatboosters weren’t needed for now, but duringa Sunday CNN inview said it was “horrifying”to see conservatives cheer for low vaccination rates, blaming “ideological rigidity” for hobbling the fight against the pandemic.\n“We have long warned that vaccinations would be unlikely to trigger a smooth transition to normalcy,” Ben May, Oxford Economics’ director of global macro research wrote Monday.\nNo key data were on deck Monday ahead of a busy week in economic reports, starting with a reading of consumer prices on Tuesday.\nSeparately, investors also were focused on discussions among finance ministers from the G-20, who are trying to assess the potential implications of a proposal for a global minimum tax.\n“We need sustainable sources of revenue that do not rely on further taxing workers’ wages and exacerbating the economic disparities that we are all committed to reducing,” U.S. Treasury Secretary Janet Yellen said in a speech to European Union countries about revamping the corporate tax code internationally.\n“We need to put an end to corporations shifting capital income to low tax jurisdictions, and to accounting gimmicks that allow them to avoid paying their fair share,” she said.\nWhich companies were in focus?\n\nBroadcom Inc.AVGO,+1.16%shares rose 1.2% Monday afterThe Wall Street Journal reportedthe chip and software company was in talks to buy SAS Institute Inc. in a deal that could value the smashup at $15 billion to $20 billion.\nApple Inc.AAPL,-0.42% shares fell 0.4% a day after a Delaware federal judgedismissed a Blix Inc. suit,saying it failed to demonstrate how Apple harmed competition in the mobile operating system market.\nL Brands Inc.LB,+4.16% said it’s separating into two publiclytraded businesses next month, with theVictoria’s Secret & Co.‘s underwear unit as “VSCO,” while the Bath & BodyWorks Inc. arm under the “BBWI” ticker, starting Aug. 3.\nGameStop Inc.GME,-1.04%shares shed 1% Monday after Ascendiant Capital Markets lifted its 12-month price target to $25 from $10, but still nowhere near the company’s $189.25 closing price Monday.\nWeber, the maker of outdoor grills,has filed to go public, nearly 50 years after it’s iconic dome-like grill was made. Shares are set to trade on the New York Stock Exchange under the ticker WEBR.\nShares ofVirgin Galactic Holdings Inc. SPCEskid 17.3% Monday, it’s largest daily percent slump since March 16, 2020, a day after founder Richard Branson and five crewmates successfully flew into suborbital space on the company’s VSS Unity rocket-powered spaceplane.\nCouchbase Inc. BASE, a provider of a database for enterprise applications, set terms for its initial public offering on Monday, with plans to offer 7 million shares, priced at $20 to $23 each. The company has applied to list on Nasdaq, under the ticker ‘BASE.’\nShares ofModerna Inc. MRNArose 2.8% Monday after the company said it would supply 20 million doses of its COVID-19 vaccine to Argentina.\nShares ofSolarWinds Corp. SWI were 1.8% lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.\n\nHow did other assets trade?\n\nThe ICE U.S. Dollar Index DXY, a measure of the currency against six major rivals, was up 0.1%.\nOil futures closed lower Monday, with the U.S. benchmark CL00 CL.1,-0.51%down 0.6% settling at $74.10 a barrel. Gold GC00 settled 0.3% lower at $1,805.90 an ounce.\nIn European equities, the Stoxx Europe 600 SXXP closed 0.7% higher, while London’s FTSE 100 UKX finished up 0.05% on Monday.\nIn Asia, the Shanghai Composite SHCOMP gained 0.7%, Hong Kong’s Hang Seng Index HSI rose 0.6% on the session and Japan’s Nikkei 225 NIK rallied 2.3% on Monday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}