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2021-06-16

Fj

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-15

Amazing

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-15

Wow

抱歉，原内容已删除

2021-06-15

Good

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-15

Wow

@小虎活动:【老虎7周年】集卡瓜分百万奖金

2021-06-15

Wow

Amazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote>

2021-04-07

Good

抱歉，原内容已删除

2021-04-01

👍🏻

Stocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote>

2021-03-30

👍🏻

Here’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote>

2021-03-29

👍🏻

抱歉，原内容已删除

2021-03-27

Nice

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>

2021-03-23

Nice

抱歉，原内容已删除

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<a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 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用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 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<a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。\u0001如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 \u0001 \u0001如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。\u0001 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP > 我的 > 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","images":[{"img":"https://static.tigerbbs.com/ab28db31a19b458d604a8bf02becddd3","width":"415","height":"125"},{"img":"https://static.tigerbbs.com/5227ebb594fe55b532c840acef147d7b","width":"415","height":"495"},{"img":"https://static.tigerbbs.com/92e88357b534f504b3088bc22f577a83","width":"415","height":"326"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114899451","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":8,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184890934,"gmtCreate":1623696619728,"gmtModify":1634029958721,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184890934","repostId":"2142209297","repostType":2,"repost":{"id":"2142209297","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623422608,"share":"https://www.laohu8.com/m/news/2142209297?lang=zh_CN&edition=full","pubTime":"2021-06-11 22:43","market":"us","language":"en","title":"Amazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2142209297","media":"Reuters","summary":"PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won ma","content":"<p><html><body>PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.</p><p><blockquote><html><body>路透巴黎6月11日-据法国媒体周五报道，美国在线巨头亚马逊和法国Canal+电视集团以6.63亿欧元（8.0223亿美元）赢得了法国足球甲级联赛直至2024年的主要电视转播权。</body></html></blockquote></p><p>   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.</p><p><blockquote>法国RMC电台早些时候在其网站上报道称，亚马逊已经出价购买电视转播权。</blockquote></p><p>($1 = 0.8264 euros)</p><p><blockquote>（1美元=0.8264欧元）</blockquote></p><p> (Reporting by Geert De Clercq; Writing by Matthieu Protard, editing by Louise Heavens)</p><p><blockquote>（Geert De Clercq报道；Matthieu Protard撰稿，Louise Heavens编辑）</blockquote></p><p>((matthieu.protard@thomsonreuters.com; +33-1-49495381;))</p><p><blockquote>（（matthieu.protard@thomsonreuters.com；+33-1-49495381；））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote></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{ 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\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\">\nAmazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2021-06-11 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.</p><p><blockquote><html><body>路透巴黎6月11日-据法国媒体周五报道，美国在线巨头亚马逊和法国Canal+电视集团以6.63亿欧元（8.0223亿美元）赢得了法国足球甲级联赛直至2024年的主要电视转播权。</body></html></blockquote></p><p>   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.</p><p><blockquote>法国RMC电台早些时候在其网站上报道称，亚马逊已经出价购买电视转播权。</blockquote></p><p>($1 = 0.8264 euros)</p><p><blockquote>（1美元=0.8264欧元）</blockquote></p><p> (Reporting by Geert De Clercq; Writing by Matthieu Protard, editing by Louise Heavens)</p><p><blockquote>（Geert De Clercq报道；Matthieu Protard撰稿，Louise Heavens编辑）</blockquote></p><p>((matthieu.protard@thomsonreuters.com; +33-1-49495381;))</p><p><blockquote>（（matthieu.protard@thomsonreuters.com；+33-1-49495381；））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","03086":"华夏纳指","AMZN":"亚马逊","09086":"华夏纳指-U"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142209297","content_text":"PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.($1 = 0.8264 euros) (Reporting by Geert De Clercq; Writing by Matthieu Protard, editing by Louise Heavens)((matthieu.protard@thomsonreuters.com; +33-1-49495381;))","news_type":1,"symbols_score_info":{"03086":0.6,"09086":0.6,"QNETCN":0.6,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341809310,"gmtCreate":1617799477730,"gmtModify":1634296453730,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/341809310","repostId":"2125742124","repostType":4,"isVote":1,"tweetType":1,"viewCount":1078,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357265587,"gmtCreate":1617279690449,"gmtModify":1634521649922,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357265587","repostId":"1127042118","repostType":4,"repost":{"id":"1127042118","kind":"news","pubTimestamp":1617263854,"share":"https://www.laohu8.com/m/news/1127042118?lang=zh_CN&edition=full","pubTime":"2021-04-01 15:57","market":"us","language":"en","title":"Stocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127042118","media":"Barron's","summary":"Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors ","content":"<p>Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.</p><p><blockquote>股市第一季度表现强劲，但上涨步伐可能会放缓。虽然投资者不一定应该纾困，但他们应该变得更加有选择性。</blockquote></p><p> The S&amp;P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.</p><p><blockquote>今年前三个月，标普500上涨5.8%。有利因素很多：Covid-19疫苗接种速度加快，而数万亿美元的政府支出支撑了需求。</blockquote></p><p> The economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.</p><p><blockquote>经济正在从2020年封锁造成的损害中迅速反弹。ADP周三公布的数据显示，美国3月份私营部门新增就业岗位517,000个，为9月份以来的最高总数。1月份零售额比12月份高出5%。</blockquote></p><p> The economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.</p><p><blockquote>经济反弹解释了罗素2000指数今年年初上涨13%的原因。小市值公司（例如罗素指数中的公司）的盈利波动往往比大公司大得多。</blockquote></p><p> Because they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.</p><p><blockquote>由于他们规模较小，他们发现在困难时期更难削减成本，因此当经济恶化时，他们的收入下降得更严重。另一方面，当情况改善时，利润会增加。此外，他们获得资本的机会相对有限，这使得他们更难度过经济低迷时期，因此他们的股票可能会随着经济变化而暴跌和飙升。</blockquote></p><p> Cyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.</p><p><blockquote>出于类似的原因，从银行到石油生产商再到非必需消费品销售商，无论大小周期性股票今年的表现都优于大盘。与公用事业或消费必需品公司相比，他们看到了经济回暖时的巨大好处。</blockquote></p><p> Where the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”</p><p><blockquote>现在市场的走向还不太清楚。德美利证券首席市场策略师JJ Kinahan表示：“我们正处于十字路口。”“每个人都在试图弄清楚接下来会发生什么。其中一部分是观望。”</blockquote></p><p> Stocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.</p><p><blockquote>股市缺乏大量上涨动力。公司已经完成了第四季度的收益报告，对疫苗的预期不会好到哪里去，政府支撑经济的支出也将下降，至少按年计算是这样。拜登政府提出的2万亿美元基础设施支出将跨越八年，相当于每年2500亿美元。</blockquote></p><p> And while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.</p><p><blockquote>尽管经济消息可能会继续改善，但反弹可能已经见顶。摩根士丹利首席美国股票策略师迈克·威尔逊在一份报告中写道，经济可能会“个人收入、采购经理人指数和GDP的变化速度放缓”。</blockquote></p><p> Meanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&amp;P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.</p><p><blockquote>与此同时，股市已经反映了大部分积极消息，因为估值很高。标普500股票的平均市盈率是来年预期每股收益的22倍，而华尔街的一些策略师在对该指数做出预测时假设的市盈率是20倍。</blockquote></p><p> It would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.</p><p><blockquote>如果估值回到20倍也就不足为奇了，这意味着除非盈利增长超过预期，否则股市几乎不会上涨。尤其如此，因为安全政府债务的收益率正在上升，使得债券作为替代方案更具吸引力。</blockquote></p><p> The yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.</p><p><blockquote>10年期国债收益率已从年初的0.91%攀升至周三的1.72%。预计今年将接近2%。</blockquote></p><p> Earnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&amp;P for the year, according to a survey from Citigroup strategists.</p><p><blockquote>花旗集团策略师的一项调查显示，预计到2022年，盈利将继续强劲增长，但估值下行压力使许多基金经理预计今年标准普尔指数走势基本持平。</blockquote></p><p> Still, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.</p><p><blockquote>尽管如此，今年晚些时候发布的收益报告可能会包含积极的惊喜。瑞士信贷最近一份报告的数据显示，收入增长往往是国内生产总值增长的两倍左右。市场普遍预期今年GDP将增长7%左右，因此收入将增长14%左右，而不是FactSet数据显示华尔街预测的9%。</blockquote></p><p> Higher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&amp;P 500—may have peaked.</p><p><blockquote>更高的收入增长意味着更高的盈利增长，以及股票的持续上涨。一种反驳观点是，所谓的盈利预测上调幅度——即评级对标普500各行业公司利润的影响程度——可能已经见顶。</blockquote></p><p> A chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.</p><p><blockquote>摩根士丹利策略师威尔逊发布的一份研究报告中的图表显示，广度最近达到了2018年和2010年的水平。在这两种情况下，广度都迅速急剧下降，更多公司的盈利预测被下调。投资者可能会惊喜地看到盈利预期从这里上升，但一些数据表明他们不应该指望这一点。</blockquote></p><p> Fortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.</p><p><blockquote>幸运的是，小盘价值股的近期盈利增长更强劲，估值也更可容忍。无论盈利预测是上升还是下降，它们的表现都可能继续优于大盘股。</blockquote></p><p> Now is the time to be picky.</p><p><blockquote>现在是挑剔的时候了。</blockquote></p><p></p>","source":"lsy1610680873436","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>Stocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nStocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-04-01 15:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.</p><p><blockquote>股市第一季度表现强劲，但上涨步伐可能会放缓。虽然投资者不一定应该纾困，但他们应该变得更加有选择性。</blockquote></p><p> The S&amp;P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.</p><p><blockquote>今年前三个月，标普500上涨5.8%。有利因素很多：Covid-19疫苗接种速度加快，而数万亿美元的政府支出支撑了需求。</blockquote></p><p> The economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.</p><p><blockquote>经济正在从2020年封锁造成的损害中迅速反弹。ADP周三公布的数据显示，美国3月份私营部门新增就业岗位517,000个，为9月份以来的最高总数。1月份零售额比12月份高出5%。</blockquote></p><p> The economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.</p><p><blockquote>经济反弹解释了罗素2000指数今年年初上涨13%的原因。小市值公司（例如罗素指数中的公司）的盈利波动往往比大公司大得多。</blockquote></p><p> Because they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.</p><p><blockquote>由于他们规模较小，他们发现在困难时期更难削减成本，因此当经济恶化时，他们的收入下降得更严重。另一方面，当情况改善时，利润会增加。此外，他们获得资本的机会相对有限，这使得他们更难度过经济低迷时期，因此他们的股票可能会随着经济变化而暴跌和飙升。</blockquote></p><p> Cyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.</p><p><blockquote>出于类似的原因，从银行到石油生产商再到非必需消费品销售商，无论大小周期性股票今年的表现都优于大盘。与公用事业或消费必需品公司相比，他们看到了经济回暖时的巨大好处。</blockquote></p><p> Where the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”</p><p><blockquote>现在市场的走向还不太清楚。德美利证券首席市场策略师JJ Kinahan表示：“我们正处于十字路口。”“每个人都在试图弄清楚接下来会发生什么。其中一部分是观望。”</blockquote></p><p> Stocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.</p><p><blockquote>股市缺乏大量上涨动力。公司已经完成了第四季度的收益报告，对疫苗的预期不会好到哪里去，政府支撑经济的支出也将下降，至少按年计算是这样。拜登政府提出的2万亿美元基础设施支出将跨越八年，相当于每年2500亿美元。</blockquote></p><p> And while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.</p><p><blockquote>尽管经济消息可能会继续改善，但反弹可能已经见顶。摩根士丹利首席美国股票策略师迈克·威尔逊在一份报告中写道，经济可能会“个人收入、采购经理人指数和GDP的变化速度放缓”。</blockquote></p><p> Meanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&amp;P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.</p><p><blockquote>与此同时，股市已经反映了大部分积极消息，因为估值很高。标普500股票的平均市盈率是来年预期每股收益的22倍，而华尔街的一些策略师在对该指数做出预测时假设的市盈率是20倍。</blockquote></p><p> It would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.</p><p><blockquote>如果估值回到20倍也就不足为奇了，这意味着除非盈利增长超过预期，否则股市几乎不会上涨。尤其如此，因为安全政府债务的收益率正在上升，使得债券作为替代方案更具吸引力。</blockquote></p><p> The yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.</p><p><blockquote>10年期国债收益率已从年初的0.91%攀升至周三的1.72%。预计今年将接近2%。</blockquote></p><p> Earnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&amp;P for the year, according to a survey from Citigroup strategists.</p><p><blockquote>花旗集团策略师的一项调查显示，预计到2022年，盈利将继续强劲增长，但估值下行压力使许多基金经理预计今年标准普尔指数走势基本持平。</blockquote></p><p> Still, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.</p><p><blockquote>尽管如此，今年晚些时候发布的收益报告可能会包含积极的惊喜。瑞士信贷最近一份报告的数据显示，收入增长往往是国内生产总值增长的两倍左右。市场普遍预期今年GDP将增长7%左右，因此收入将增长14%左右，而不是FactSet数据显示华尔街预测的9%。</blockquote></p><p> Higher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&amp;P 500—may have peaked.</p><p><blockquote>更高的收入增长意味着更高的盈利增长，以及股票的持续上涨。一种反驳观点是，所谓的盈利预测上调幅度——即评级对标普500各行业公司利润的影响程度——可能已经见顶。</blockquote></p><p> A chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.</p><p><blockquote>摩根士丹利策略师威尔逊发布的一份研究报告中的图表显示，广度最近达到了2018年和2010年的水平。在这两种情况下，广度都迅速急剧下降，更多公司的盈利预测被下调。投资者可能会惊喜地看到盈利预期从这里上升，但一些数据表明他们不应该指望这一点。</blockquote></p><p> Fortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.</p><p><blockquote>幸运的是，小盘价值股的近期盈利增长更强劲，估值也更可容忍。无论盈利预测是上升还是下降，它们的表现都可能继续优于大盘股。</blockquote></p><p> Now is the time to be picky.</p><p><blockquote>现在是挑剔的时候了。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-had-a-good-quarter-significant-gains-are-less-likely-now-51617219322?mod=hp_LEAD_1\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stocks-had-a-good-quarter-significant-gains-are-less-likely-now-51617219322?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127042118","content_text":"Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.\nThe S&P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.\nThe economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.\nThe economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.\nBecause they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.\nCyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.\nWhere the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”\nStocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.\nAnd while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.\nMeanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.\nIt would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.\nThe yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.\nEarnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&P for the year, according to a survey from Citigroup strategists.\nStill, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.\nHigher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&P 500—may have peaked.\nA chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.\nFortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.\nNow is the time to be picky.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355764204,"gmtCreate":1617107455808,"gmtModify":1634522634552,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355764204","repostId":"1162058288","repostType":4,"repost":{"id":"1162058288","kind":"news","pubTimestamp":1617104066,"share":"https://www.laohu8.com/m/news/1162058288?lang=zh_CN&edition=full","pubTime":"2021-03-30 19:34","market":"us","language":"en","title":"Here’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162058288","media":"marketwatch","summary":"Critical information for the U.S. trading day.While the footing has been a bit less steady for stock","content":"<p><b>Critical information for the U.S. trading day.</b>While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&amp;P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.</p><p><blockquote><b>美国交易日的关键信息。</b>尽管最近股市的基础不太稳定，但3月份仍将为华尔街大部分地区带来稳健上涨，道琼斯工业平均指数道琼斯上涨0.30%，上涨7%，标普500 SPX上涨-0.09%%上涨4%。随着向周期性股票的转移继续，纳斯达克综合指数(-0.60%)下跌1%，落后。</blockquote></p><p>The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.</p><p><blockquote>资金管理和研究公司The Leuthold Group的首席投资策略师吉姆·保尔森(Jim Paulsen)表示，不过，这个市场的大牛市评级仍然很少，这可能是由于一些人的怀疑。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.”&nbsp;— Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕。”—Jim Paulsen，Leuthold Group“有很多人认为人们太头晕了，太乐观了，情绪太强烈了，但我不禁觉得情况会变得更加强烈，”保尔森在周一接受MarketWatch采访时说道。</blockquote></p><p>In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.</p><p><blockquote>在我们今天的看涨期权中，他驳斥了反对者，并展望了即将到来的秋天，届时几乎每个想要COVID-19疫苗的美国人都将接种疫苗，我们已经重新开放，重新就业，人们“充满了刺激”现金。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕，”保尔森说，包括今年的增长率超过8%。“所以我认为这种情绪将贯穿大街和华尔街。”</blockquote></p><p>Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&amp;P 500 earnings to $175 this year — Paulsen sees $200 as possible.</p><p><blockquote>基本面也是如此，因为他预计美国今年的经济增长率将超过8%，是战后时期最强劲的增长率之一。预计盈利也将飙升，华尔街预测标普500今年的盈利将反弹至175美元——保尔森认为200美元是可能的。</blockquote></p><p>“And if it does, that means we’re selling on less than 20 times earnings right now on the S&amp;P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.</p><p><blockquote>他表示：“如果确实如此，这意味着我们目前在标普500的市盈率不到20倍，而更广泛的市场的估值可能会更好。”他认为正在发生的是，情绪跟不上越来越好的情况。</blockquote></p><p>“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.</p><p><blockquote>他说：“在战后历史上，我想不出还有哪个时期，我们有效地将世界经济带入了大萧条时期的萧条，然后在大约一年内……实现了战后繁荣。”尽管债券收益率上升（周二值得关注）困扰着投资者，但保尔森认为债券收益率将“逐步”升至2%。</blockquote></p><p>For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”</p><p><blockquote>对于投资者来说，他建议继续通过周期性股票、小盘股和国际股票转向经济敏感领域。他拥有技术，但跑输大盘认为未来表现不佳。“但我不认为它会陨石坑。我认为它会参与这场牛市。”</blockquote></p><p>Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.</p><p><blockquote>投资者不应该放弃该行业，因为它在全球范围内一直是一股如此霸道的力量。他说，未来科技公司，因为它们渗透到如此多的行业，可能会开始被不同的分类。</blockquote></p><p><img src=\"https://static.tigerbbs.com/1c4d059b2a2272b5b365afd8aafaf2ba\" tg-width=\"1242\" tg-height=\"1096\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.</p><p><blockquote>要避免什么？保尔森表示，他将对医疗保健、公用事业、房地产投资信托、现金、债券和黄金保持警惕。是的，他确实认为可能会出现调整，这是今年的一大风险。</blockquote></p><p>“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”</p><p><blockquote>“我认为它可能会在今年晚些时候到来，但从现在开始，我不会感到震惊，”他说。“这是今年最大的风险，我不认为这是一个周期结束，这肯定是痛苦的。我认为我们将会遇到其中之一。”</blockquote></p><p><b>Yields are creeping up, Archegos lingers</b></p><p><blockquote><b>收益率攀升，Archegos徘徊不前</b></blockquote></p><p>Tech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&amp;P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.</p><p><blockquote>科技股在假期缩短的一周内难以站稳脚跟，纳斯达克100 NQ00期货下跌-0.75%。标普500 ES00,-0.33%和道指YM00,-0.11%持平至走高。但10年期美国国债TMUBMUSD10Y, 1.762%的收益率升至近1.77%。凯斯席勒房价指数和消费者信心指标是未来的数据。</blockquote></p><p>Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.</p><p><blockquote>再为加密货币得分。在线支付提供商PayPal PYPL,-2.22%的美国客户现在可以使用比特币BTCUSD, 3.26%和其他数字资产购买商品。</blockquote></p><p>European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.</p><p><blockquote>欧洲股市和银行股SXXP, 0.33%在周一的抛售后得到喘息，其中瑞士信贷CS(-11.50%)领涨。据信是强制出售超过200亿美元股票的美国基金Archegos Capital Management表示，“所有计划都在讨论中”。据报道，华尔街银行被美国监管机构传唤讨论风险和影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1fe433f659d25ba084fd1f7b41b448d\" tg-width=\"1080\" tg-height=\"1514\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.</p><p><blockquote>制药公司辉瑞PFE（+1.02%）和生物技术公司Moderna MRNA（-7.40%）的新冠肺炎疫苗阻止了90%完全接种疫苗的人的感染和疾病。与此同时，加拿大已暂停阿斯利康AZN制药公司为55岁以下成年人注射0.34%的疫苗。</blockquote></p><p>The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.</p><p><blockquote>纽约市警察局正在追捕一名亚裔老年妇女恶性袭击案的嫌疑人。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nHere’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-30 19:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Critical information for the U.S. trading day.</b>While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&amp;P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.</p><p><blockquote><b>美国交易日的关键信息。</b>尽管最近股市的基础不太稳定，但3月份仍将为华尔街大部分地区带来稳健上涨，道琼斯工业平均指数道琼斯上涨0.30%，上涨7%，标普500 SPX上涨-0.09%%上涨4%。随着向周期性股票的转移继续，纳斯达克综合指数(-0.60%)下跌1%，落后。</blockquote></p><p>The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.</p><p><blockquote>资金管理和研究公司The Leuthold Group的首席投资策略师吉姆·保尔森(Jim Paulsen)表示，不过，这个市场的大牛市评级仍然很少，这可能是由于一些人的怀疑。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.”&nbsp;— Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕。”—Jim Paulsen，Leuthold Group“有很多人认为人们太头晕了，太乐观了，情绪太强烈了，但我不禁觉得情况会变得更加强烈，”保尔森在周一接受MarketWatch采访时说道。</blockquote></p><p>In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.</p><p><blockquote>在我们今天的看涨期权中，他驳斥了反对者，并展望了即将到来的秋天，届时几乎每个想要COVID-19疫苗的美国人都将接种疫苗，我们已经重新开放，重新就业，人们“充满了刺激”现金。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕，”保尔森说，包括今年的增长率超过8%。“所以我认为这种情绪将贯穿大街和华尔街。”</blockquote></p><p>Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&amp;P 500 earnings to $175 this year — Paulsen sees $200 as possible.</p><p><blockquote>基本面也是如此，因为他预计美国今年的经济增长率将超过8%，是战后时期最强劲的增长率之一。预计盈利也将飙升，华尔街预测标普500今年的盈利将反弹至175美元——保尔森认为200美元是可能的。</blockquote></p><p>“And if it does, that means we’re selling on less than 20 times earnings right now on the S&amp;P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.</p><p><blockquote>他表示：“如果确实如此，这意味着我们目前在标普500的市盈率不到20倍，而更广泛的市场的估值可能会更好。”他认为正在发生的是，情绪跟不上越来越好的情况。</blockquote></p><p>“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.</p><p><blockquote>他说：“在战后历史上，我想不出还有哪个时期，我们有效地将世界经济带入了大萧条时期的萧条，然后在大约一年内……实现了战后繁荣。”尽管债券收益率上升（周二值得关注）困扰着投资者，但保尔森认为债券收益率将“逐步”升至2%。</blockquote></p><p>For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”</p><p><blockquote>对于投资者来说，他建议继续通过周期性股票、小盘股和国际股票转向经济敏感领域。他拥有技术，但跑输大盘认为未来表现不佳。“但我不认为它会陨石坑。我认为它会参与这场牛市。”</blockquote></p><p>Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.</p><p><blockquote>投资者不应该放弃该行业，因为它在全球范围内一直是一股如此霸道的力量。他说，未来科技公司，因为它们渗透到如此多的行业，可能会开始被不同的分类。</blockquote></p><p><img src=\"https://static.tigerbbs.com/1c4d059b2a2272b5b365afd8aafaf2ba\" tg-width=\"1242\" tg-height=\"1096\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.</p><p><blockquote>要避免什么？保尔森表示，他将对医疗保健、公用事业、房地产投资信托、现金、债券和黄金保持警惕。是的，他确实认为可能会出现调整，这是今年的一大风险。</blockquote></p><p>“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”</p><p><blockquote>“我认为它可能会在今年晚些时候到来，但从现在开始，我不会感到震惊，”他说。“这是今年最大的风险，我不认为这是一个周期结束，这肯定是痛苦的。我认为我们将会遇到其中之一。”</blockquote></p><p><b>Yields are creeping up, Archegos lingers</b></p><p><blockquote><b>收益率攀升，Archegos徘徊不前</b></blockquote></p><p>Tech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&amp;P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.</p><p><blockquote>科技股在假期缩短的一周内难以站稳脚跟，纳斯达克100 NQ00期货下跌-0.75%。标普500 ES00,-0.33%和道指YM00,-0.11%持平至走高。但10年期美国国债TMUBMUSD10Y, 1.762%的收益率升至近1.77%。凯斯席勒房价指数和消费者信心指标是未来的数据。</blockquote></p><p>Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.</p><p><blockquote>再为加密货币得分。在线支付提供商PayPal PYPL,-2.22%的美国客户现在可以使用比特币BTCUSD, 3.26%和其他数字资产购买商品。</blockquote></p><p>European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.</p><p><blockquote>欧洲股市和银行股SXXP, 0.33%在周一的抛售后得到喘息，其中瑞士信贷CS(-11.50%)领涨。据信是强制出售超过200亿美元股票的美国基金Archegos Capital Management表示，“所有计划都在讨论中”。据报道，华尔街银行被美国监管机构传唤讨论风险和影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1fe433f659d25ba084fd1f7b41b448d\" tg-width=\"1080\" tg-height=\"1514\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.</p><p><blockquote>制药公司辉瑞PFE（+1.02%）和生物技术公司Moderna MRNA（-7.40%）的新冠肺炎疫苗阻止了90%完全接种疫苗的人的感染和疾病。与此同时，加拿大已暂停阿斯利康AZN制药公司为55岁以下成年人注射0.34%的疫苗。</blockquote></p><p>The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.</p><p><blockquote>纽约市警察局正在追捕一名亚裔老年妇女恶性袭击案的嫌疑人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/heres-why-wall-street-and-investors-arent-giddy-enough-says-top-strategist-11617102861\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9a5677649fbdbb7ef0087796f2311fad","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/heres-why-wall-street-and-investors-arent-giddy-enough-says-top-strategist-11617102861","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162058288","content_text":"Critical information for the U.S. trading day.While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.” — Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&P 500 earnings to $175 this year — Paulsen sees $200 as possible.“And if it does, that means we’re selling on less than 20 times earnings right now on the S&P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”Yields are creeping up, Archegos lingersTech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":952,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355971219,"gmtCreate":1617026441131,"gmtModify":1634523058699,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355971219","repostId":"1196597601","repostType":4,"isVote":1,"tweetType":1,"viewCount":2409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356222953,"gmtCreate":1616780728672,"gmtModify":1634524015598,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356222953","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohu8.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353170543,"gmtCreate":1616474575382,"gmtModify":1634525629289,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/353170543","repostId":"1117197102","repostType":4,"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":341809310,"gmtCreate":1617799477730,"gmtModify":1634296453730,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/341809310","repostId":"2125742124","repostType":4,"isVote":1,"tweetType":1,"viewCount":1078,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353170543,"gmtCreate":1616474575382,"gmtModify":1634525629289,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/353170543","repostId":"1117197102","repostType":4,"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355764204,"gmtCreate":1617107455808,"gmtModify":1634522634552,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355764204","repostId":"1162058288","repostType":4,"repost":{"id":"1162058288","kind":"news","pubTimestamp":1617104066,"share":"https://www.laohu8.com/m/news/1162058288?lang=zh_CN&edition=full","pubTime":"2021-03-30 19:34","market":"us","language":"en","title":"Here’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162058288","media":"marketwatch","summary":"Critical information for the U.S. trading day.While the footing has been a bit less steady for stock","content":"<p><b>Critical information for the U.S. trading day.</b>While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&amp;P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.</p><p><blockquote><b>美国交易日的关键信息。</b>尽管最近股市的基础不太稳定，但3月份仍将为华尔街大部分地区带来稳健上涨，道琼斯工业平均指数道琼斯上涨0.30%，上涨7%，标普500 SPX上涨-0.09%%上涨4%。随着向周期性股票的转移继续，纳斯达克综合指数(-0.60%)下跌1%，落后。</blockquote></p><p>The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.</p><p><blockquote>资金管理和研究公司The Leuthold Group的首席投资策略师吉姆·保尔森(Jim Paulsen)表示，不过，这个市场的大牛市评级仍然很少，这可能是由于一些人的怀疑。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.”&nbsp;— Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕。”—Jim Paulsen，Leuthold Group“有很多人认为人们太头晕了，太乐观了，情绪太强烈了，但我不禁觉得情况会变得更加强烈，”保尔森在周一接受MarketWatch采访时说道。</blockquote></p><p>In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.</p><p><blockquote>在我们今天的看涨期权中，他驳斥了反对者，并展望了即将到来的秋天，届时几乎每个想要COVID-19疫苗的美国人都将接种疫苗，我们已经重新开放，重新就业，人们“充满了刺激”现金。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕，”保尔森说，包括今年的增长率超过8%。“所以我认为这种情绪将贯穿大街和华尔街。”</blockquote></p><p>Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&amp;P 500 earnings to $175 this year — Paulsen sees $200 as possible.</p><p><blockquote>基本面也是如此，因为他预计美国今年的经济增长率将超过8%，是战后时期最强劲的增长率之一。预计盈利也将飙升，华尔街预测标普500今年的盈利将反弹至175美元——保尔森认为200美元是可能的。</blockquote></p><p>“And if it does, that means we’re selling on less than 20 times earnings right now on the S&amp;P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.</p><p><blockquote>他表示：“如果确实如此，这意味着我们目前在标普500的市盈率不到20倍，而更广泛的市场的估值可能会更好。”他认为正在发生的是，情绪跟不上越来越好的情况。</blockquote></p><p>“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.</p><p><blockquote>他说：“在战后历史上，我想不出还有哪个时期，我们有效地将世界经济带入了大萧条时期的萧条，然后在大约一年内……实现了战后繁荣。”尽管债券收益率上升（周二值得关注）困扰着投资者，但保尔森认为债券收益率将“逐步”升至2%。</blockquote></p><p>For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”</p><p><blockquote>对于投资者来说，他建议继续通过周期性股票、小盘股和国际股票转向经济敏感领域。他拥有技术，但跑输大盘认为未来表现不佳。“但我不认为它会陨石坑。我认为它会参与这场牛市。”</blockquote></p><p>Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.</p><p><blockquote>投资者不应该放弃该行业，因为它在全球范围内一直是一股如此霸道的力量。他说，未来科技公司，因为它们渗透到如此多的行业，可能会开始被不同的分类。</blockquote></p><p><img src=\"https://static.tigerbbs.com/1c4d059b2a2272b5b365afd8aafaf2ba\" tg-width=\"1242\" tg-height=\"1096\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.</p><p><blockquote>要避免什么？保尔森表示，他将对医疗保健、公用事业、房地产投资信托、现金、债券和黄金保持警惕。是的，他确实认为可能会出现调整，这是今年的一大风险。</blockquote></p><p>“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”</p><p><blockquote>“我认为它可能会在今年晚些时候到来，但从现在开始，我不会感到震惊，”他说。“这是今年最大的风险，我不认为这是一个周期结束，这肯定是痛苦的。我认为我们将会遇到其中之一。”</blockquote></p><p><b>Yields are creeping up, Archegos lingers</b></p><p><blockquote><b>收益率攀升，Archegos徘徊不前</b></blockquote></p><p>Tech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&amp;P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.</p><p><blockquote>科技股在假期缩短的一周内难以站稳脚跟，纳斯达克100 NQ00期货下跌-0.75%。标普500 ES00,-0.33%和道指YM00,-0.11%持平至走高。但10年期美国国债TMUBMUSD10Y, 1.762%的收益率升至近1.77%。凯斯席勒房价指数和消费者信心指标是未来的数据。</blockquote></p><p>Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.</p><p><blockquote>再为加密货币得分。在线支付提供商PayPal PYPL,-2.22%的美国客户现在可以使用比特币BTCUSD, 3.26%和其他数字资产购买商品。</blockquote></p><p>European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.</p><p><blockquote>欧洲股市和银行股SXXP, 0.33%在周一的抛售后得到喘息，其中瑞士信贷CS(-11.50%)领涨。据信是强制出售超过200亿美元股票的美国基金Archegos Capital Management表示，“所有计划都在讨论中”。据报道，华尔街银行被美国监管机构传唤讨论风险和影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1fe433f659d25ba084fd1f7b41b448d\" tg-width=\"1080\" tg-height=\"1514\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.</p><p><blockquote>制药公司辉瑞PFE（+1.02%）和生物技术公司Moderna MRNA（-7.40%）的新冠肺炎疫苗阻止了90%完全接种疫苗的人的感染和疾病。与此同时，加拿大已暂停阿斯利康AZN制药公司为55岁以下成年人注射0.34%的疫苗。</blockquote></p><p>The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.</p><p><blockquote>纽约市警察局正在追捕一名亚裔老年妇女恶性袭击案的嫌疑人。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nHere’s why Wall Street and investors aren’t giddy enough, says top strategist<blockquote>顶级策略师表示，这就是华尔街和投资者不够兴奋的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-30 19:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Critical information for the U.S. trading day.</b>While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&amp;P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.</p><p><blockquote><b>美国交易日的关键信息。</b>尽管最近股市的基础不太稳定，但3月份仍将为华尔街大部分地区带来稳健上涨，道琼斯工业平均指数道琼斯上涨0.30%，上涨7%，标普500 SPX上涨-0.09%%上涨4%。随着向周期性股票的转移继续，纳斯达克综合指数(-0.60%)下跌1%，落后。</blockquote></p><p>The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.</p><p><blockquote>资金管理和研究公司The Leuthold Group的首席投资策略师吉姆·保尔森(Jim Paulsen)表示，不过，这个市场的大牛市评级仍然很少，这可能是由于一些人的怀疑。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.”&nbsp;— Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕。”—Jim Paulsen，Leuthold Group“有很多人认为人们太头晕了，太乐观了，情绪太强烈了，但我不禁觉得情况会变得更加强烈，”保尔森在周一接受MarketWatch采访时说道。</blockquote></p><p>In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.</p><p><blockquote>在我们今天的看涨期权中，他驳斥了反对者，并展望了即将到来的秋天，届时几乎每个想要COVID-19疫苗的美国人都将接种疫苗，我们已经重新开放，重新就业，人们“充满了刺激”现金。</blockquote></p><p>“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”</p><p><blockquote>“我只是无法想象，在那个时候，从某种意义上说，在这个国家，当我们宣布战胜新冠病毒时，我们不会比现在坐在地下室里感到更加眩晕，”保尔森说，包括今年的增长率超过8%。“所以我认为这种情绪将贯穿大街和华尔街。”</blockquote></p><p>Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&amp;P 500 earnings to $175 this year — Paulsen sees $200 as possible.</p><p><blockquote>基本面也是如此，因为他预计美国今年的经济增长率将超过8%，是战后时期最强劲的增长率之一。预计盈利也将飙升，华尔街预测标普500今年的盈利将反弹至175美元——保尔森认为200美元是可能的。</blockquote></p><p>“And if it does, that means we’re selling on less than 20 times earnings right now on the S&amp;P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.</p><p><blockquote>他表示：“如果确实如此，这意味着我们目前在标普500的市盈率不到20倍，而更广泛的市场的估值可能会更好。”他认为正在发生的是，情绪跟不上越来越好的情况。</blockquote></p><p>“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.</p><p><blockquote>他说：“在战后历史上，我想不出还有哪个时期，我们有效地将世界经济带入了大萧条时期的萧条，然后在大约一年内……实现了战后繁荣。”尽管债券收益率上升（周二值得关注）困扰着投资者，但保尔森认为债券收益率将“逐步”升至2%。</blockquote></p><p>For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”</p><p><blockquote>对于投资者来说，他建议继续通过周期性股票、小盘股和国际股票转向经济敏感领域。他拥有技术，但跑输大盘认为未来表现不佳。“但我不认为它会陨石坑。我认为它会参与这场牛市。”</blockquote></p><p>Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.</p><p><blockquote>投资者不应该放弃该行业，因为它在全球范围内一直是一股如此霸道的力量。他说，未来科技公司，因为它们渗透到如此多的行业，可能会开始被不同的分类。</blockquote></p><p><img src=\"https://static.tigerbbs.com/1c4d059b2a2272b5b365afd8aafaf2ba\" tg-width=\"1242\" tg-height=\"1096\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.</p><p><blockquote>要避免什么？保尔森表示，他将对医疗保健、公用事业、房地产投资信托、现金、债券和黄金保持警惕。是的，他确实认为可能会出现调整，这是今年的一大风险。</blockquote></p><p>“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”</p><p><blockquote>“我认为它可能会在今年晚些时候到来，但从现在开始，我不会感到震惊，”他说。“这是今年最大的风险，我不认为这是一个周期结束，这肯定是痛苦的。我认为我们将会遇到其中之一。”</blockquote></p><p><b>Yields are creeping up, Archegos lingers</b></p><p><blockquote><b>收益率攀升，Archegos徘徊不前</b></blockquote></p><p>Tech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&amp;P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.</p><p><blockquote>科技股在假期缩短的一周内难以站稳脚跟，纳斯达克100 NQ00期货下跌-0.75%。标普500 ES00,-0.33%和道指YM00,-0.11%持平至走高。但10年期美国国债TMUBMUSD10Y, 1.762%的收益率升至近1.77%。凯斯席勒房价指数和消费者信心指标是未来的数据。</blockquote></p><p>Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.</p><p><blockquote>再为加密货币得分。在线支付提供商PayPal PYPL,-2.22%的美国客户现在可以使用比特币BTCUSD, 3.26%和其他数字资产购买商品。</blockquote></p><p>European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.</p><p><blockquote>欧洲股市和银行股SXXP, 0.33%在周一的抛售后得到喘息，其中瑞士信贷CS(-11.50%)领涨。据信是强制出售超过200亿美元股票的美国基金Archegos Capital Management表示，“所有计划都在讨论中”。据报道，华尔街银行被美国监管机构传唤讨论风险和影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1fe433f659d25ba084fd1f7b41b448d\" tg-width=\"1080\" tg-height=\"1514\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p>The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.</p><p><blockquote>制药公司辉瑞PFE（+1.02%）和生物技术公司Moderna MRNA（-7.40%）的新冠肺炎疫苗阻止了90%完全接种疫苗的人的感染和疾病。与此同时，加拿大已暂停阿斯利康AZN制药公司为55岁以下成年人注射0.34%的疫苗。</blockquote></p><p>The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.</p><p><blockquote>纽约市警察局正在追捕一名亚裔老年妇女恶性袭击案的嫌疑人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/heres-why-wall-street-and-investors-arent-giddy-enough-says-top-strategist-11617102861\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9a5677649fbdbb7ef0087796f2311fad","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/heres-why-wall-street-and-investors-arent-giddy-enough-says-top-strategist-11617102861","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162058288","content_text":"Critical information for the U.S. trading day.While the footing has been a bit less steady for stocks lately, March is still set to deliver solid gains for most of Wall Street, with the Dow Jones Industrial Average DJIA, +0.30% up 7% and the S&P 500 SPX, -0.09% up 4%. The Nasdaq Composite COMP, -0.60% is lagging with a 1% drop as the shift toward cyclical stocks continues.The big bull calls for this market remain scarce though, and that may be down to some disbelief, said Jim Paulsen, chief investment strategist at money management and research firm The Leuthold Group.“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement.” — Jim Paulsen, The Leuthold Group“There’s a lot of thought that people are too giddy, there’s too much optimism, sentiment is too strong, but I just can’t help but feel it’s going to be a lot stronger,” said Paulsen, in an interview on Monday with MarketWatch.In our call of the day, he brushes away the naysayers, and looks ahead to the coming autumn, when almost everyone in the U.S. who wants a COVID-19 vaccine will get one, and we’ve got reopenings, re-employment and people “flush with stimulus” cash.“I just can’t imagine that at that point, when, in some sense in this country, when we declare victory over COVID that we’re not going to feel a whole lot more giddy than we do right now sitting in my basement,” including growth better than 8% this year, Paulsen said. “So I think that sentiment is going to run through Main Street and Wall Street.”Fundamentals go along with that, as he expects U.S. growth of better than 8% this year, among the strongest of the postwar era. Earnings are also expected to surge, with Wall Street forecasting a rebound for S&P 500 earnings to $175 this year — Paulsen sees $200 as possible.“And if it does, that means we’re selling on less than 20 times earnings right now on the S&P 500, and probably broader markets are even better valuation,” he said. What he thinks is happening is that sentiment just can’t keep up with the better-and-better scenario unfolding.“There’s not another period I can think of in postwar history where we effectively took the world economy to a Depression-era bust, and then within about a year…a postwar boom,” he said. And while rising bond yields — something to watch for Tuesday — hover over investors, Paulsen sees a “stepwise” move up to 2%.For investors, he suggests continuing to steer toward economically sensitive areas, via cyclical, small cap and international stocks. He owns technology, but is underweight as sees some underperformance ahead. “But I don’t think it’s going to crater. I think it’s going to participate in this bull.”Investors shouldn’t abandon the sector, because it has been such a domineering force throughout the globe. And down the road, he said tech companies, because they permeate so many sectors, may start to be categorized differently.What to avoid? Paulsen said he would be wary of healthcare, utilities, real-estate investment trusts, cash, bonds, gold. And yes he does see a correction likely, a big risk for this year.“I think it might come later this year but I wouldn’t be shocked, starting right now,” he said. “And that’s the biggest risk this year and I don’t think that’s a cycle ender, it certainly is painful. And I think we’re going to get one of those.”Yields are creeping up, Archegos lingersTech stocks are struggling to get a foothold in a holiday-shortened week, with futures for the Nasdaq-100 NQ00, -0.75% down. Those for the S&P 500 ES00, -0.33% and Dow YM00, -0.11% are flat to higher. But the yield on the 10-year U.S. Treasury TMUBMUSD10Y, 1.762% is up to nearly 1.77%. The Case-Shiller home price index and a gauge of consumer confidence are the data ahead.Score another for cryptocurrencies. U.S. customers of online payment provider PayPal PYPL, -2.22% can now purchase items with bitcoin BTCUSD, 3.26% and other digital assets.European stocks and banks SXXP, 0.33% are getting a breather after Monday’s selloff, led by Credit Suisse CS, -11.50%. That is as Archegos Capital Management, the U.S. fund believed to be behind the forced sale of more than $20 billion in stocks, says “all plans are being discussed.” Wall Street banks were reportedly summoned by U.S. regulators to discuss the risks and fallout.The COVID-19 vaccines from drug company Pfizer PFE, +1.02% and biotech Moderna MRNA, -7.40% stopped infections and illness in 90% of fully vaccinated people. Meanwhile, Canada has suspended the shots from drug company AstraZeneca AZN, +0.34% for adults under 55.The New York City Police Department is hunting the suspect of a vicious assault on an elderly Asian-American woman.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":952,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356222953,"gmtCreate":1616780728672,"gmtModify":1634524015598,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356222953","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohu8.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. 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&#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","listText":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ <a href=\"https://www.itiger.com/activity/market/2021/7th-anniversary?lang=zh_CN\" target=\"_blank\">戳我即可参与活动</a> &#x1;如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。&#x1;如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 &#x1; &#x1;如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。&#x1; 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP &gt; 我的 &gt; 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活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","text":"老虎7周年给大家发福利了，集齐TIGER五个字母即有机会瓜分百万奖金，你准备好了吗？ 戳我即可参与活动 \u0001如何参与？ 用户可通过完成活动页面展示的当日任务列表来获得字母卡，每完成一个任务即可随机获得一个字母，用户集齐“TIGER”五个字母即可参与瓜分百万股票代金券，每个用户单日最多可获得20张字母卡（不包括好友赠予和魔法卡）。 用户在活动期间邀请累计7名好友完成注册并开户（注册时间和开户时间均在活动期间），即可获得一张魔法卡（每人仅可获得一张魔法卡）。魔法卡可用于兑换TIGER中的任意一个字母。\u0001如果用户的某一字母卡数量为0，则字母卡为灰色，用户可通过点击灰色的字母卡向好友索要卡片；如果用户的字母卡数量大于0，则字母卡为彩色，用户可通过点击彩色的字母卡向好友赠送卡片。当用户集齐TIGER之后将无法再索要卡片或者赠送卡片。 \u0001 \u0001如何获得奖励？ 用户可在2021年7月1日至2021年7月2日期间进行开奖，所有集齐TIGER的客户可点击活动页面的“开奖”按钮，即可查看自己瓜分到的股票代金券奖励。在开奖时间段内未点击开奖的用户将无法获得奖励。\u0001 奖励发放： 股票代金券将在开奖后的1个工作日内发放至用户的奖励中心，用户需要在奖励发放后的20天内前往【Tiger Trade APP > 我的 > 活动奖励】领取，过期未领取的奖励将自动失效。 重要提示： 本次7周年活动涉及不同国家和地区，由于各地区的监管要求不同，不同地区的活动奖励会有所区别。欲知详情，请点击下方活动链接，登陆您的账号，并点击“活动规则“查看详情。","images":[{"img":"https://static.tigerbbs.com/ab28db31a19b458d604a8bf02becddd3","width":"415","height":"125"},{"img":"https://static.tigerbbs.com/5227ebb594fe55b532c840acef147d7b","width":"415","height":"495"},{"img":"https://static.tigerbbs.com/92e88357b534f504b3088bc22f577a83","width":"415","height":"326"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114899451","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":8,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184890934,"gmtCreate":1623696619728,"gmtModify":1634029958721,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184890934","repostId":"2142209297","repostType":2,"repost":{"id":"2142209297","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623422608,"share":"https://www.laohu8.com/m/news/2142209297?lang=zh_CN&edition=full","pubTime":"2021-06-11 22:43","market":"us","language":"en","title":"Amazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2142209297","media":"Reuters","summary":"PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won ma","content":"<p><html><body>PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.</p><p><blockquote><html><body>路透巴黎6月11日-据法国媒体周五报道，美国在线巨头亚马逊和法国Canal+电视集团以6.63亿欧元（8.0223亿美元）赢得了法国足球甲级联赛直至2024年的主要电视转播权。</body></html></blockquote></p><p>   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.</p><p><blockquote>法国RMC电台早些时候在其网站上报道称，亚马逊已经出价购买电视转播权。</blockquote></p><p>($1 = 0.8264 euros)</p><p><blockquote>（1美元=0.8264欧元）</blockquote></p><p> (Reporting by Geert De Clercq; 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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: 12.5px; color: #7E829C; margin: 0;}\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\">\nAmazon, Canal+ win main TV rights for French soccer League 1 -media<blockquote>亚马逊、Canal+赢得法国足球甲级联赛主要电视转播权-媒体</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2021-06-11 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.</p><p><blockquote><html><body>路透巴黎6月11日-据法国媒体周五报道，美国在线巨头亚马逊和法国Canal+电视集团以6.63亿欧元（8.0223亿美元）赢得了法国足球甲级联赛直至2024年的主要电视转播权。</body></html></blockquote></p><p>   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.</p><p><blockquote>法国RMC电台早些时候在其网站上报道称，亚马逊已经出价购买电视转播权。</blockquote></p><p>($1 = 0.8264 euros)</p><p><blockquote>（1美元=0.8264欧元）</blockquote></p><p> (Reporting by Geert De Clercq; Writing by Matthieu Protard, editing by Louise Heavens)</p><p><blockquote>（Geert De Clercq报道；Matthieu Protard撰稿，Louise Heavens编辑）</blockquote></p><p>((matthieu.protard@thomsonreuters.com; +33-1-49495381;))</p><p><blockquote>（（matthieu.protard@thomsonreuters.com；+33-1-49495381；））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","03086":"华夏纳指","AMZN":"亚马逊","09086":"华夏纳指-U"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142209297","content_text":"PARIS, June 11 (Reuters) - U.S. online giant Amazon and France's Canal+ television group have won main TV rights for French League 1 soccer until 2024 for 663 million euros ($802.23 million), French media reported on Friday.   French radio RMC reported earlier on its website that Amazon had made a bid for the TV rights.($1 = 0.8264 euros) (Reporting by Geert De Clercq; Writing by Matthieu Protard, editing by Louise Heavens)((matthieu.protard@thomsonreuters.com; +33-1-49495381;))","news_type":1,"symbols_score_info":{"03086":0.6,"09086":0.6,"QNETCN":0.6,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357265587,"gmtCreate":1617279690449,"gmtModify":1634521649922,"author":{"id":"3574848185025531","authorId":"3574848185025531","name":"The0","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":13,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574848185025531","idStr":"3574848185025531"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357265587","repostId":"1127042118","repostType":4,"repost":{"id":"1127042118","kind":"news","pubTimestamp":1617263854,"share":"https://www.laohu8.com/m/news/1127042118?lang=zh_CN&edition=full","pubTime":"2021-04-01 15:57","market":"us","language":"en","title":"Stocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127042118","media":"Barron's","summary":"Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors ","content":"<p>Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.</p><p><blockquote>股市第一季度表现强劲，但上涨步伐可能会放缓。虽然投资者不一定应该纾困，但他们应该变得更加有选择性。</blockquote></p><p> The S&amp;P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.</p><p><blockquote>今年前三个月，标普500上涨5.8%。有利因素很多：Covid-19疫苗接种速度加快，而数万亿美元的政府支出支撑了需求。</blockquote></p><p> The economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.</p><p><blockquote>经济正在从2020年封锁造成的损害中迅速反弹。ADP周三公布的数据显示，美国3月份私营部门新增就业岗位517,000个，为9月份以来的最高总数。1月份零售额比12月份高出5%。</blockquote></p><p> The economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.</p><p><blockquote>经济反弹解释了罗素2000指数今年年初上涨13%的原因。小市值公司（例如罗素指数中的公司）的盈利波动往往比大公司大得多。</blockquote></p><p> Because they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.</p><p><blockquote>由于他们规模较小，他们发现在困难时期更难削减成本，因此当经济恶化时，他们的收入下降得更严重。另一方面，当情况改善时，利润会增加。此外，他们获得资本的机会相对有限，这使得他们更难度过经济低迷时期，因此他们的股票可能会随着经济变化而暴跌和飙升。</blockquote></p><p> Cyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.</p><p><blockquote>出于类似的原因，从银行到石油生产商再到非必需消费品销售商，无论大小周期性股票今年的表现都优于大盘。与公用事业或消费必需品公司相比，他们看到了经济回暖时的巨大好处。</blockquote></p><p> Where the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”</p><p><blockquote>现在市场的走向还不太清楚。德美利证券首席市场策略师JJ Kinahan表示：“我们正处于十字路口。”“每个人都在试图弄清楚接下来会发生什么。其中一部分是观望。”</blockquote></p><p> Stocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.</p><p><blockquote>股市缺乏大量上涨动力。公司已经完成了第四季度的收益报告，对疫苗的预期不会好到哪里去，政府支撑经济的支出也将下降，至少按年计算是这样。拜登政府提出的2万亿美元基础设施支出将跨越八年，相当于每年2500亿美元。</blockquote></p><p> And while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.</p><p><blockquote>尽管经济消息可能会继续改善，但反弹可能已经见顶。摩根士丹利首席美国股票策略师迈克·威尔逊在一份报告中写道，经济可能会“个人收入、采购经理人指数和GDP的变化速度放缓”。</blockquote></p><p> Meanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&amp;P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.</p><p><blockquote>与此同时，股市已经反映了大部分积极消息，因为估值很高。标普500股票的平均市盈率是来年预期每股收益的22倍，而华尔街的一些策略师在对该指数做出预测时假设的市盈率是20倍。</blockquote></p><p> It would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.</p><p><blockquote>如果估值回到20倍也就不足为奇了，这意味着除非盈利增长超过预期，否则股市几乎不会上涨。尤其如此，因为安全政府债务的收益率正在上升，使得债券作为替代方案更具吸引力。</blockquote></p><p> The yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.</p><p><blockquote>10年期国债收益率已从年初的0.91%攀升至周三的1.72%。预计今年将接近2%。</blockquote></p><p> Earnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&amp;P for the year, according to a survey from Citigroup strategists.</p><p><blockquote>花旗集团策略师的一项调查显示，预计到2022年，盈利将继续强劲增长，但估值下行压力使许多基金经理预计今年标准普尔指数走势基本持平。</blockquote></p><p> Still, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.</p><p><blockquote>尽管如此，今年晚些时候发布的收益报告可能会包含积极的惊喜。瑞士信贷最近一份报告的数据显示，收入增长往往是国内生产总值增长的两倍左右。市场普遍预期今年GDP将增长7%左右，因此收入将增长14%左右，而不是FactSet数据显示华尔街预测的9%。</blockquote></p><p> Higher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&amp;P 500—may have peaked.</p><p><blockquote>更高的收入增长意味着更高的盈利增长，以及股票的持续上涨。一种反驳观点是，所谓的盈利预测上调幅度——即评级对标普500各行业公司利润的影响程度——可能已经见顶。</blockquote></p><p> A chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.</p><p><blockquote>摩根士丹利策略师威尔逊发布的一份研究报告中的图表显示，广度最近达到了2018年和2010年的水平。在这两种情况下，广度都迅速急剧下降，更多公司的盈利预测被下调。投资者可能会惊喜地看到盈利预期从这里上升，但一些数据表明他们不应该指望这一点。</blockquote></p><p> Fortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.</p><p><blockquote>幸运的是，小盘价值股的近期盈利增长更强劲，估值也更可容忍。无论盈利预测是上升还是下降，它们的表现都可能继续优于大盘股。</blockquote></p><p> Now is the time to be picky.</p><p><blockquote>现在是挑剔的时候了。</blockquote></p><p></p>","source":"lsy1610680873436","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>Stocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nStocks Had a Good First Quarter. Significant Gains Are Less Likely Now<blockquote>股市第一季度表现良好。现在大幅上涨的可能性较小</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-04-01 15:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.</p><p><blockquote>股市第一季度表现强劲，但上涨步伐可能会放缓。虽然投资者不一定应该纾困，但他们应该变得更加有选择性。</blockquote></p><p> The S&amp;P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.</p><p><blockquote>今年前三个月，标普500上涨5.8%。有利因素很多：Covid-19疫苗接种速度加快，而数万亿美元的政府支出支撑了需求。</blockquote></p><p> The economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.</p><p><blockquote>经济正在从2020年封锁造成的损害中迅速反弹。ADP周三公布的数据显示，美国3月份私营部门新增就业岗位517,000个，为9月份以来的最高总数。1月份零售额比12月份高出5%。</blockquote></p><p> The economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.</p><p><blockquote>经济反弹解释了罗素2000指数今年年初上涨13%的原因。小市值公司（例如罗素指数中的公司）的盈利波动往往比大公司大得多。</blockquote></p><p> Because they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.</p><p><blockquote>由于他们规模较小，他们发现在困难时期更难削减成本，因此当经济恶化时，他们的收入下降得更严重。另一方面，当情况改善时，利润会增加。此外，他们获得资本的机会相对有限，这使得他们更难度过经济低迷时期，因此他们的股票可能会随着经济变化而暴跌和飙升。</blockquote></p><p> Cyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.</p><p><blockquote>出于类似的原因，从银行到石油生产商再到非必需消费品销售商，无论大小周期性股票今年的表现都优于大盘。与公用事业或消费必需品公司相比，他们看到了经济回暖时的巨大好处。</blockquote></p><p> Where the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”</p><p><blockquote>现在市场的走向还不太清楚。德美利证券首席市场策略师JJ Kinahan表示：“我们正处于十字路口。”“每个人都在试图弄清楚接下来会发生什么。其中一部分是观望。”</blockquote></p><p> Stocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.</p><p><blockquote>股市缺乏大量上涨动力。公司已经完成了第四季度的收益报告，对疫苗的预期不会好到哪里去，政府支撑经济的支出也将下降，至少按年计算是这样。拜登政府提出的2万亿美元基础设施支出将跨越八年，相当于每年2500亿美元。</blockquote></p><p> And while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.</p><p><blockquote>尽管经济消息可能会继续改善，但反弹可能已经见顶。摩根士丹利首席美国股票策略师迈克·威尔逊在一份报告中写道，经济可能会“个人收入、采购经理人指数和GDP的变化速度放缓”。</blockquote></p><p> Meanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&amp;P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.</p><p><blockquote>与此同时，股市已经反映了大部分积极消息，因为估值很高。标普500股票的平均市盈率是来年预期每股收益的22倍，而华尔街的一些策略师在对该指数做出预测时假设的市盈率是20倍。</blockquote></p><p> It would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.</p><p><blockquote>如果估值回到20倍也就不足为奇了，这意味着除非盈利增长超过预期，否则股市几乎不会上涨。尤其如此，因为安全政府债务的收益率正在上升，使得债券作为替代方案更具吸引力。</blockquote></p><p> The yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.</p><p><blockquote>10年期国债收益率已从年初的0.91%攀升至周三的1.72%。预计今年将接近2%。</blockquote></p><p> Earnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&amp;P for the year, according to a survey from Citigroup strategists.</p><p><blockquote>花旗集团策略师的一项调查显示，预计到2022年，盈利将继续强劲增长，但估值下行压力使许多基金经理预计今年标准普尔指数走势基本持平。</blockquote></p><p> Still, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.</p><p><blockquote>尽管如此，今年晚些时候发布的收益报告可能会包含积极的惊喜。瑞士信贷最近一份报告的数据显示，收入增长往往是国内生产总值增长的两倍左右。市场普遍预期今年GDP将增长7%左右，因此收入将增长14%左右，而不是FactSet数据显示华尔街预测的9%。</blockquote></p><p> Higher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&amp;P 500—may have peaked.</p><p><blockquote>更高的收入增长意味着更高的盈利增长，以及股票的持续上涨。一种反驳观点是，所谓的盈利预测上调幅度——即评级对标普500各行业公司利润的影响程度——可能已经见顶。</blockquote></p><p> A chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.</p><p><blockquote>摩根士丹利策略师威尔逊发布的一份研究报告中的图表显示，广度最近达到了2018年和2010年的水平。在这两种情况下，广度都迅速急剧下降，更多公司的盈利预测被下调。投资者可能会惊喜地看到盈利预期从这里上升，但一些数据表明他们不应该指望这一点。</blockquote></p><p> Fortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.</p><p><blockquote>幸运的是，小盘价值股的近期盈利增长更强劲，估值也更可容忍。无论盈利预测是上升还是下降，它们的表现都可能继续优于大盘股。</blockquote></p><p> Now is the time to be picky.</p><p><blockquote>现在是挑剔的时候了。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-had-a-good-quarter-significant-gains-are-less-likely-now-51617219322?mod=hp_LEAD_1\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stocks-had-a-good-quarter-significant-gains-are-less-likely-now-51617219322?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127042118","content_text":"Stocks posted a strong first quarter, but the pace of gains is likely to slow down. While investors shouldn’t necessarily bail out, they should become more selective.\nThe S&P 500 rallied 5.8% for the first three months of the year. Tailwinds were plentiful: Vaccinations for Covid-19 speeded up, while trillions of dollars of government spending shored up demand.\nThe economy is quickly bouncing back from the damage that lockdowns dealt it in 2020. Figures released Wednesday by ADP show the U.S. added 517,000 private-sector jobs in March, the highest total since September. Retail sales were 5% higher in January than in December.\nThe economic rebound explains the Russell 2000’s 13% run to start the year. Smaller-capitalization companies, such as those in the Russell index, often experience much larger swings in earnings than big companies.\nBecause they are smaller, they find it harder to cut costs when times are tough, so their earnings fall harder when the economy sours. The flip side is that profits take off when conditions improve. Plus, their relatively limited access to capital makes it harder for them to weather downturns, so their stocks can plunge and surge as the economy changes.\nCyclical stocks both small and large, ranging from banks to oil producers to sellers of discretionary consumer goods, have been outperformers this year for a similar reason. They see an outsize benefit when the economy reheats, compared with utilities or companies in consumer staples.\nWhere the market goes now is less clear. “We’re at a crossroads,” said JJ Kinahan, chief market strategist at TD Ameritrade. “Everyone’s trying to figure out what’s next. Part of it is a wait and see.”\nStocks lack substantial fuel for gains. Companies have finished reporting their fourth-quarter earnings, expectations about vaccines can’t get much better, and government spending to prop up the economy is poised to decline, at least on an annual basis. The $2 trillion of infrastructure spending that the Biden administration has proposed would span eight years, equating to $250 billion a year.\nAnd while the economic news is likely to keep improving, the rebound has likely peaked. The economy will likely see “slowing rates of change in personal income, purchasing managers indexes and GDP,” wrote Mike Wilson, chief U.S. equity strategist at Morgan Stanley, in a note.\nMeanwhile, stocks already reflect much of the positive news, in that valuations are high. The average stock in the S&P 500 trades at 22 times the per-share earnings expected for the coming year, while some strategists on Wall Street assume a multiple of 20 times in making their forecasts for the index.\nIt would be no surprise if valuations head back toward 20 times, which would mean few gains for stocks unless earnings rise more than expected. That is especially true because yields on safe government debt are rising, making bonds more appealing as an alternative.\nThe yield on 10-year Treasury debt has climbed from 0.91% as of the start of the year to 1.72% on Wednesday. It is expected to approach 2% this year.\nEarnings are expected to keep growing at a strong clip through 2022, but the downward pressure on valuations leaves many fund managers expecting an essentially flat move on the S&P for the year, according to a survey from Citigroup strategists.\nStill, earnings reports to be released later in the year could contain positive surprises. Data from a recent Credit Suisse note show that revenue growth often beats increases in gross domestic product by about twofold. The consensus expectation is that GDP will increase by about 7% this year, so revenue would grow around 14%, not the 9% that FactSet data shows Wall Street has penciled in.\nHigher revenue growth implies higher earnings growth, and continued gains for stocks. A counterargument is that so-called breadth in upward revisions to earnings forecasts—the extent to which calls are rising for the profits of companies across the various sectors in the S&P 500—may have peaked.\nA chart in a research report published by Wilson, the Morgan Stanley strategist, shows that breadth recently hit a level last seen in 2018 and 2010. In both instances, breadth quickly fell precipitously, with forecast earnings for more companies revised lower. Investors may be pleasantly surprised to see earnings estimates rise from here, but some data indicate they shouldn’t count on that.\nFortunately, small-cap value stocks have stronger near-term earnings growth and are trading at more tolerable valuations. They may keep outperforming large-caps regardless of whether forecasts for earnings rise or fall.\nNow is the time to be picky.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}