hhyw personal page - To The Moon

hhyw

hhyw

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03-10

$超微电脑(SMCI)$

2023-10-30

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2023-06-27

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2023-06-26

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2023-06-25

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2023-06-24

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2023-06-23

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2023-06-23

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2023-06-22

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2023-06-21

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2023-06-21

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2023-06-20

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2023-06-19

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2023-06-18

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2023-06-17

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2023-06-16

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2023-06-15

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2023-06-15

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2023-06-14

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2023-06-13

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Event: The United States created 266,000 new non-farm jobs in April, the unemployment rate was 6.1%, and the labor force participation rate was 61.7%.</p><p><b>The non-agricultural data in January and April fell short of expectations. Which industries are lagging behind?</b>The U.S. non-agricultural data in April was far lower than the previous value and expectations, and the employment gap exceeded 8.2 million. In April, 266,000 new non-farm jobs were created, compared with market expectations of close to 1 million. The initial value in March was 916,000, and the revised value was 770,000. Manufacturing, warehousing and transportation industries and \"part-time jobs\" dragged their feet, while leisure and hospitality industries performed well. The commodity production sector decreased by 16,000 people, mainly dragged down by the manufacturing industry; Employment in the transportation and warehousing industry decreased by 74,000, which may be related to the interruption of the international supply chain; Professional and business services (\"temporary support services\") dropped sharply by 111,400 people, but this may be a positive signal that \"part-time\" workers are beginning to move to \"full-time\" workers. The leisure and hotel industry increased significantly by 331,000 people, compared with the previous value of 206,000 people, reflecting that states in the United States have begun to relax restrictions on the movement of people.</p><p><b>The initial non-agricultural value in February and April may not be the whole picture of the employment situation in the United States.</b>First, the marginal improvement of labor participation enthusiasm in April is also the reason for the rise in unemployment rate. The unemployment rate (U3) in April was 6.1%, higher than the previous value of 6.0%. However, the labor participation rate rose by 0.2 percentage points to 61.7% in April, corresponding to a new labor force of 430,000. Some new people entering the labor market may not have found jobs yet, which will increase the \"numerator and denominator\" at the same time and temporarily rise the unemployment rate. Second, the number of \"small non-farm payrolls\" and initial jobless claims is more optimistic. ADP created 742,000 new jobs in the private sector in April, higher than the previous value of 565,000. The latest number of initial jobless claims fell to 498,000, the lowest since the pandemic. Third, the accuracy of the initial value of non-agricultural data is limited. The non-farm payrolls report will be revised on a monthly basis. For April data, disturbances such as supply chain disruption may be temporary, and the decrease in the number of \"part-time jobs\" and the increase in employment in hotel tourism are also positive signals. The actual employment situation in the United States in April may not be so pessimistic, and it is not appropriate to use this as a trend for \"linear extrapolation\".</p><p><b>In March and April, the average hourly wage still increased rapidly from the previous month, and the \"reaction\" of fiscal stimulus deserves attention.</b>In April, the year-on-year growth rate of the average hourly wage of non-agricultural non-managerial personnel dropped sharply to 1.15%, largely due to the base effect. In April 2020, the average hourly wage of non-agricultural non-managerial personnel rose from US $24.15 to US $25.16. If you look at the month-on-month, the average hourly wage in April increased by 0.8% month-on-month, the highest increase this year. The U.S. Treasury Department's spending has accelerated since March, with the TGA (Treasury General Account) shrinking by about $300 billion in March. Government expenditure may have a \"counter-effect\" on the job market. Since April 2020, government welfare has driven high income growth of residents, but at the same time, employment willingness may be suppressed, resulting in slow recovery of the job market and insufficient labor participation rate. Then enterprises have to raise wages to make up for the labor gap.</p><p><b>The non-agricultural data in April and April was weak, but the market reacted positively.</b>The market is happy to see the weak employment data, and believes that the Federal Reserve is more likely to remain loose in the short term, and then the risk appetite will increase marginally, and the expectation of dollar depreciation and inflation expectation will further strengthen. After the release of non-agricultural data on May 7, the S&P 500 index reached a new high; The bond market responded positively, and the 10-year U.S. bond yield plunged intraday; Gold futures prices were significantly boosted; The US Dollar Index Diving.</p><p><b>5. Be wary of the \"nonlinear\" recovery of employment in the United States and related risks. Market volatility may intensify in May-June.</b>Considering the improvement of the epidemic situation in the United States and the continued advancement of vaccination, it is somewhat unexpected that the employment data in April was weaker than that in March, which means that the recovery of the U.S. job market is likely to be \"non-linear.\" There are three main risks of \"nonlinear\" recovery: First, the market is accustomed to linear extrapolation thinking, which is easy to cause misjudgment. The market believes that if the employment data is weak, the probability of the Fed tightening policy will decrease, and then actively embrace risks. One possible scenario is that the employment data in May may be significantly higher than expected, when the market's nervousness about the shift in monetary policy may reach its highest point, triggering market volatility. Second, \"cluster recovery\" may push up inflation faster. When the \"herd immunity\" in the United States approaches (we expect it to be around July), employment may \"get together\" to recover, and then economic activities such as production and consumption may rebound rapidly, and inflation indicators may rise rapidly. Third, the deviation between employment and inflation will make it more difficult for the market to judge the Fed's policy, which will easily lead to market fluctuations. Our benchmark calculations show that the year-on-year growth rate of U.S. PCE from April to May this year may reach 3%. However, if employment recovery is still slow, the Fed will fall into the dilemma of \"slow employment\" and \"fast inflation\". At least it will be more difficult for the Fed to communicate with the market, and U.S. stocks and other risky assets are prone to fluctuations.</p><p>The non-agricultural data in April fell short of expectations. Which industries are lagging behind?</p><p>The U.S. non-agricultural data in April was far lower than the previous value and expectations, and the current employment gap exceeds 8.2 million. The United States added 266,000 new non-farm employment in April, compared with market expectations of close to 1 million. The initial value in March was 916,000, and the revised value was 770,000. The total number of non-farm employment in April was 1.4431 million, an increase of only about 3,000 from the previous value of 1.44 million. Currently, the total number of non-farm payrolls in the United States is 8.215 million lower than before the COVID-19 pandemic (February 2020) (Chart 1).</p><p><img src=\"https://static.tigerbbs.com/e31d9d1bc09767085bc713950ea8463a\" tg-width=\"1080\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p><p>Manufacturing, warehousing and transportation industries and \"part-time jobs\" dragged their feet, while leisure and hospitality industries performed well. Among the 266,000 new people in April, 234,000 came from the service industry, more than half less than that in March, 48,000 came from the government department, about a quarter less than that in March, and the commodity production sector decreased by 16,000. In March, it increased by 166,000. Employment in the commodity production sector in April was mainly dragged down by manufacturing (especially durable goods manufacturing) (Chart 2); Employment in the transportation and warehousing industry decreased by 74,000, which may be related to the interruption of the international supply chain. The Federal Reserve has also mentioned the \"bottleneck\" of the supply chain before; And the professional and business services industry dropped by 79,000, of which \"temporary support services\" dropped by 111,400, but this may be a positive signal that \"part-time\" workers are beginning to shift to \"full-time\" workers. The U.S. Department of Labor (BLS) reported a 580,000 decrease in \"part-time jobs for economic reasons\" due to an increase in full-time positions. The leisure and hotel industry increased significantly by 331,000 people, compared with the previous value of 206,000 people, reflecting that states in the United States have begun to relax restrictions on the movement of people (Chart 3).</p><p><img src=\"https://static.tigerbbs.com/7391ef70d5d9ffd318384b216952f3be\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>2 The preliminary non-farm payrolls value in April may not be the full picture of the U.S. employment situation</p><p>The initial non-agricultural value in April may not be the full picture of the recovery pace of the U.S. job market. There are still a series of signals pointing to the marginal improvement of the U.S. job market.</p><p>First, the margin of labor participation in the United States improved in April, which is also the reason for the rise in unemployment rate. The U.S. unemployment rate (U3) in April was 6.1%, higher than the previous value of 6.0% and market expectations of 5.8% (Chart 4). However, the U.S. labor force participation rate rose by 0.2 percentage points to 61.7% in April, corresponding to a new labor force of 430,000, although the current total labor force is still 3.46 million lower than before the epidemic (February 2020) (Chart 5). Some new people entering the labor market may not have found jobs yet, which will increase the \"numerator and denominator\" at the same time and temporarily rise the unemployment rate. In addition, the U6 unemployment rate (considering the broader unemployed population) fell by 0.3 percentage points to 10.4% in April.</p><p><img src=\"https://static.tigerbbs.com/f9ad824a347d2937fd825a24c739c26f\" tg-width=\"1080\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>Second, the number of \"small non-farm payrolls\" and initial jobless claims is more optimistic. The \"small non-agricultural\" (ADP private sector employment) data released the day before the non-agricultural data showed that 742,000 new jobs were created in the United States in April, higher than the previous value of 565,000 (Chart 6). In the week ending May 1, the number of initial jobless claims in the United States continued to fall to 498,000, the lowest since the epidemic, although the number was still 2.1 times the pre-epidemic level. In the week ending April 24, the number of people applying for unemployment benefits in the United States was 3.69 million, slightly higher than the previous value of 3.65 million and 2.4 times the pre-epidemic level (Chart 7).</p><p><img src=\"https://static.tigerbbs.com/4e8a3a0e2f0ec7f2c7c4b238cea62a11\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p>Third, it should be noted that the accuracy of the initial value of non-agricultural data is limited. On May 7, U.S. Treasury Secretary Yellen said in a speech that the non-farm payrolls report will be revised on a monthly basis, and it is not recommended to regard the data of a certain month as a potential trend. Combined with the structural characteristics of the initial value of non-agricultural data, we believe that disturbances such as supply chain disruption may be temporary, and the decrease in the number of \"part-time jobs\" and the increase in employment in the hotel and tourism industry are also positive signals. The actual employment situation in the United States in April may not be so pessimistic, and this should not be used as a trend for \"linear extrapolation\".</p><p>3 The average hourly wage in April still grew rapidly month-on-month, and the \"countereffect\" of fiscal stimulus deserves attention</p><p>In April, the year-on-year growth rate of average hourly wage dropped sharply, mainly due to the base number, while the actual wage still increased rapidly month-on-month. After the epidemic, the labor market was in short supply, which made the average hourly wage of non-agricultural employees in the United States increase significantly higher than in previous years. In March, the average hourly wage of non-agricultural and non-managerial personnel increased by 4.55% year-on-year. This growth rate dropped sharply to 1.15% in April (Chart 8), but it was largely due to the base effect. In April 2020, the average hourly wage of non-agricultural and non-managerial personnel rose from US $24.15 to US $25.16. If we look at the month-on-month, the average hourly wage in April increased by 0.8% month-on-month, the highest increase this year (Chart 9). Hours per week in April were unchanged from March, but still below pre-pandemic levels.</p><p><img src=\"https://static.tigerbbs.com/499046534ca554e77c8cb117cb01083f\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p><p>The U.S. Treasury Department's spending has accelerated since March, which may have a \"countereffect\" on the job market. Note that since March 2021, the U.S. Treasury Department has begun to implement the TGA (Treasury General Account) reduction plan, spending approximately US $300 billion in March alone (Figure 10). In our previous report \"Slow Employment\" and \"Fast Inflation\" in the United States, we pointed out that the overall recovery of the U.S. job market is slow, which deviates from the \"fast recovery\" shown by other economic indicators. This is partly related to the vigorous fiscal stimulus in the United States. Since April 2020, government welfare has driven high income growth of residents, but at the same time, employment willingness may be suppressed, resulting in slow recovery of the job market and insufficient labor participation rate, and then enterprises have to raise wages to make up for the labor gap (Chart 11).</p><p><img src=\"https://static.tigerbbs.com/cfa89b00b22d2bd7e8def30542644a0e\" tg-width=\"1080\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>4 Non-agricultural data in April was weak, but the market reacted positively</p><p>The market is obviously happy to see the weak employment data in the United States, and believes that the Federal Reserve is more likely to remain loose in the short term, and then the risk appetite will increase marginally, and the expectation of dollar depreciation and inflation expectation will further strengthen. After the release of non-agricultural data on May 7, the three major stock indexes all rose, with the Nasdaq, S&P 500 and Dow closing up 0.88%, 0.74% and 0.66% respectively (Chart 12); The bond market reacted positively. The 10-year U.S. bond yield plunged intraday, then rebounded, and finally closed up 2bp, of which the 10-year TIPS interest rate fell by 2bp (Chart 13); Gold futures prices were significantly boosted (Chart 14); The US Dollar Index dived and closed at 90.24, a new low since February 25 (Chart 15).</p><p><img src=\"https://static.tigerbbs.com/aaa756fa809932a70084916cd316142c\" tg-width=\"1080\" tg-height=\"941\" referrerpolicy=\"no-referrer\"></p><p>5 Be wary of the \"nonlinear\" recovery of American employment</p><p>We believe that in the next 1-2 months (May-June), we should be alert to the \"nonlinear\" recovery of employment in the United States and the risks it may bring.</p><p>The U.S. non-farm payrolls data in April was significantly weaker than that in March. Considering the improvement of the U.S. epidemic and the continued advancement of vaccination, this phenomenon seems somewhat unexpected. We have observed foreign media reports that U.S. residents' concerns about COVID-19 pandemic are still an important reason hindering employment recovery. In addition, the U.S. job market may be disturbed by unexpected events (affected by severe weather in February this year, affected by supply chain disruptions in April, etc.). All these mean that the recovery of the US job market is likely to be \"non-linear\".</p><p>There are three main risks of the \"nonlinear\" recovery of the U.S. economy: First, the market is accustomed to \"linear extrapolation\" thinking, which is easy to cause misjudgment. For example, the market believes that if the employment data is weak, the probability of the Fed tightening policy will decrease, and then actively embrace risks. Based on the non-farm payrolls data of 916,000 in March, the market predicts that non-farm payrolls will increase by 1 million in April, which is an example.<b>One possible scenario is that the market's expectations for the employment data in May are lower, but the actual data may be significantly higher than expected.</b>By then, the market's nervousness about the Fed's monetary policy shift may reach its highest point, leading to asset selling and market volatility.</p><p><b>Second, \"cluster recovery\" may push up inflation faster.</b>If COVID-19 pandemic is the main factor hindering the recovery of employment in the United States, then it can be expected that when the \"herd immunity\" in the United States approaches (we expect it to be around July, refer to the report \"How far is the United States from\" herd immunity \"?\"), employment may \"get together\" Recovery, then economic activities such as production and consumption may rebound rapidly, and inflation indicators may rise rapidly.</p><p><b>Third, the deviation between employment and inflation trends will increase the difficulty for the market to judge the Fed's policy, which will easily lead to market fluctuations.</b>Based on the latest PCE data released in March and the Federal Reserve's forecast of the year-on-year growth rate of PCE in 2021 (the median forecast is 2.4%), our benchmark calculation shows that the year-on-year growth rate of PCE from April to May this year may reach 3% (Chart 16). However, if employment recovery is still slow, the Fed will fall into the dilemma of \"slow employment\" and \"fast inflation\". At least it will be more difficult for the Fed to communicate with the market. U.S. stocks and other risky assets are prone to fluctuations, which deserves vigilance.</p><p><img src=\"https://static.tigerbbs.com/49dd065681f1d0a63d4960e36c6e256b\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1602814587747","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>Be wary of the \"nonlinear\" recovery of U.S. employment, market volatility may intensify in May-June</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\">\nBe wary of the \"nonlinear\" recovery of U.S. employment, market volatility may intensify in May-June\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">钟正生经济分析</strong><span class=\"h-time small\">2021-05-09 08:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>If you look at the month-on-month, the average hourly wage in April increased by 0.8% month-on-month, the highest increase this year. Event: The United States created 266,000 new non-farm jobs in April, the unemployment rate was 6.1%, and the labor force participation rate was 61.7%.</p><p><b>The non-agricultural data in January and April fell short of expectations. Which industries are lagging behind?</b>The U.S. non-agricultural data in April was far lower than the previous value and expectations, and the employment gap exceeded 8.2 million. In April, 266,000 new non-farm jobs were created, compared with market expectations of close to 1 million. The initial value in March was 916,000, and the revised value was 770,000. Manufacturing, warehousing and transportation industries and \"part-time jobs\" dragged their feet, while leisure and hospitality industries performed well. The commodity production sector decreased by 16,000 people, mainly dragged down by the manufacturing industry; Employment in the transportation and warehousing industry decreased by 74,000, which may be related to the interruption of the international supply chain; Professional and business services (\"temporary support services\") dropped sharply by 111,400 people, but this may be a positive signal that \"part-time\" workers are beginning to move to \"full-time\" workers. The leisure and hotel industry increased significantly by 331,000 people, compared with the previous value of 206,000 people, reflecting that states in the United States have begun to relax restrictions on the movement of people.</p><p><b>The initial non-agricultural value in February and April may not be the whole picture of the employment situation in the United States.</b>First, the marginal improvement of labor participation enthusiasm in April is also the reason for the rise in unemployment rate. The unemployment rate (U3) in April was 6.1%, higher than the previous value of 6.0%. However, the labor participation rate rose by 0.2 percentage points to 61.7% in April, corresponding to a new labor force of 430,000. Some new people entering the labor market may not have found jobs yet, which will increase the \"numerator and denominator\" at the same time and temporarily rise the unemployment rate. Second, the number of \"small non-farm payrolls\" and initial jobless claims is more optimistic. ADP created 742,000 new jobs in the private sector in April, higher than the previous value of 565,000. The latest number of initial jobless claims fell to 498,000, the lowest since the pandemic. Third, the accuracy of the initial value of non-agricultural data is limited. The non-farm payrolls report will be revised on a monthly basis. For April data, disturbances such as supply chain disruption may be temporary, and the decrease in the number of \"part-time jobs\" and the increase in employment in hotel tourism are also positive signals. The actual employment situation in the United States in April may not be so pessimistic, and it is not appropriate to use this as a trend for \"linear extrapolation\".</p><p><b>In March and April, the average hourly wage still increased rapidly from the previous month, and the \"reaction\" of fiscal stimulus deserves attention.</b>In April, the year-on-year growth rate of the average hourly wage of non-agricultural non-managerial personnel dropped sharply to 1.15%, largely due to the base effect. In April 2020, the average hourly wage of non-agricultural non-managerial personnel rose from US $24.15 to US $25.16. If you look at the month-on-month, the average hourly wage in April increased by 0.8% month-on-month, the highest increase this year. The U.S. Treasury Department's spending has accelerated since March, with the TGA (Treasury General Account) shrinking by about $300 billion in March. Government expenditure may have a \"counter-effect\" on the job market. Since April 2020, government welfare has driven high income growth of residents, but at the same time, employment willingness may be suppressed, resulting in slow recovery of the job market and insufficient labor participation rate. Then enterprises have to raise wages to make up for the labor gap.</p><p><b>The non-agricultural data in April and April was weak, but the market reacted positively.</b>The market is happy to see the weak employment data, and believes that the Federal Reserve is more likely to remain loose in the short term, and then the risk appetite will increase marginally, and the expectation of dollar depreciation and inflation expectation will further strengthen. After the release of non-agricultural data on May 7, the S&P 500 index reached a new high; The bond market responded positively, and the 10-year U.S. bond yield plunged intraday; Gold futures prices were significantly boosted; The US Dollar Index Diving.</p><p><b>5. Be wary of the \"nonlinear\" recovery of employment in the United States and related risks. Market volatility may intensify in May-June.</b>Considering the improvement of the epidemic situation in the United States and the continued advancement of vaccination, it is somewhat unexpected that the employment data in April was weaker than that in March, which means that the recovery of the U.S. job market is likely to be \"non-linear.\" There are three main risks of \"nonlinear\" recovery: First, the market is accustomed to linear extrapolation thinking, which is easy to cause misjudgment. The market believes that if the employment data is weak, the probability of the Fed tightening policy will decrease, and then actively embrace risks. One possible scenario is that the employment data in May may be significantly higher than expected, when the market's nervousness about the shift in monetary policy may reach its highest point, triggering market volatility. Second, \"cluster recovery\" may push up inflation faster. When the \"herd immunity\" in the United States approaches (we expect it to be around July), employment may \"get together\" to recover, and then economic activities such as production and consumption may rebound rapidly, and inflation indicators may rise rapidly. Third, the deviation between employment and inflation will make it more difficult for the market to judge the Fed's policy, which will easily lead to market fluctuations. Our benchmark calculations show that the year-on-year growth rate of U.S. PCE from April to May this year may reach 3%. However, if employment recovery is still slow, the Fed will fall into the dilemma of \"slow employment\" and \"fast inflation\". At least it will be more difficult for the Fed to communicate with the market, and U.S. stocks and other risky assets are prone to fluctuations.</p><p>The non-agricultural data in April fell short of expectations. Which industries are lagging behind?</p><p>The U.S. non-agricultural data in April was far lower than the previous value and expectations, and the current employment gap exceeds 8.2 million. The United States added 266,000 new non-farm employment in April, compared with market expectations of close to 1 million. The initial value in March was 916,000, and the revised value was 770,000. The total number of non-farm employment in April was 1.4431 million, an increase of only about 3,000 from the previous value of 1.44 million. Currently, the total number of non-farm payrolls in the United States is 8.215 million lower than before the COVID-19 pandemic (February 2020) (Chart 1).</p><p><img src=\"https://static.tigerbbs.com/e31d9d1bc09767085bc713950ea8463a\" tg-width=\"1080\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p><p>Manufacturing, warehousing and transportation industries and \"part-time jobs\" dragged their feet, while leisure and hospitality industries performed well. Among the 266,000 new people in April, 234,000 came from the service industry, more than half less than that in March, 48,000 came from the government department, about a quarter less than that in March, and the commodity production sector decreased by 16,000. In March, it increased by 166,000. Employment in the commodity production sector in April was mainly dragged down by manufacturing (especially durable goods manufacturing) (Chart 2); Employment in the transportation and warehousing industry decreased by 74,000, which may be related to the interruption of the international supply chain. The Federal Reserve has also mentioned the \"bottleneck\" of the supply chain before; And the professional and business services industry dropped by 79,000, of which \"temporary support services\" dropped by 111,400, but this may be a positive signal that \"part-time\" workers are beginning to shift to \"full-time\" workers. The U.S. Department of Labor (BLS) reported a 580,000 decrease in \"part-time jobs for economic reasons\" due to an increase in full-time positions. The leisure and hotel industry increased significantly by 331,000 people, compared with the previous value of 206,000 people, reflecting that states in the United States have begun to relax restrictions on the movement of people (Chart 3).</p><p><img src=\"https://static.tigerbbs.com/7391ef70d5d9ffd318384b216952f3be\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>2 The preliminary non-farm payrolls value in April may not be the full picture of the U.S. employment situation</p><p>The initial non-agricultural value in April may not be the full picture of the recovery pace of the U.S. job market. There are still a series of signals pointing to the marginal improvement of the U.S. job market.</p><p>First, the margin of labor participation in the United States improved in April, which is also the reason for the rise in unemployment rate. The U.S. unemployment rate (U3) in April was 6.1%, higher than the previous value of 6.0% and market expectations of 5.8% (Chart 4). However, the U.S. labor force participation rate rose by 0.2 percentage points to 61.7% in April, corresponding to a new labor force of 430,000, although the current total labor force is still 3.46 million lower than before the epidemic (February 2020) (Chart 5). Some new people entering the labor market may not have found jobs yet, which will increase the \"numerator and denominator\" at the same time and temporarily rise the unemployment rate. In addition, the U6 unemployment rate (considering the broader unemployed population) fell by 0.3 percentage points to 10.4% in April.</p><p><img src=\"https://static.tigerbbs.com/f9ad824a347d2937fd825a24c739c26f\" tg-width=\"1080\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>Second, the number of \"small non-farm payrolls\" and initial jobless claims is more optimistic. The \"small non-agricultural\" (ADP private sector employment) data released the day before the non-agricultural data showed that 742,000 new jobs were created in the United States in April, higher than the previous value of 565,000 (Chart 6). In the week ending May 1, the number of initial jobless claims in the United States continued to fall to 498,000, the lowest since the epidemic, although the number was still 2.1 times the pre-epidemic level. In the week ending April 24, the number of people applying for unemployment benefits in the United States was 3.69 million, slightly higher than the previous value of 3.65 million and 2.4 times the pre-epidemic level (Chart 7).</p><p><img src=\"https://static.tigerbbs.com/4e8a3a0e2f0ec7f2c7c4b238cea62a11\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p><p>Third, it should be noted that the accuracy of the initial value of non-agricultural data is limited. On May 7, U.S. Treasury Secretary Yellen said in a speech that the non-farm payrolls report will be revised on a monthly basis, and it is not recommended to regard the data of a certain month as a potential trend. Combined with the structural characteristics of the initial value of non-agricultural data, we believe that disturbances such as supply chain disruption may be temporary, and the decrease in the number of \"part-time jobs\" and the increase in employment in the hotel and tourism industry are also positive signals. The actual employment situation in the United States in April may not be so pessimistic, and this should not be used as a trend for \"linear extrapolation\".</p><p>3 The average hourly wage in April still grew rapidly month-on-month, and the \"countereffect\" of fiscal stimulus deserves attention</p><p>In April, the year-on-year growth rate of average hourly wage dropped sharply, mainly due to the base number, while the actual wage still increased rapidly month-on-month. After the epidemic, the labor market was in short supply, which made the average hourly wage of non-agricultural employees in the United States increase significantly higher than in previous years. In March, the average hourly wage of non-agricultural and non-managerial personnel increased by 4.55% year-on-year. This growth rate dropped sharply to 1.15% in April (Chart 8), but it was largely due to the base effect. In April 2020, the average hourly wage of non-agricultural and non-managerial personnel rose from US $24.15 to US $25.16. If we look at the month-on-month, the average hourly wage in April increased by 0.8% month-on-month, the highest increase this year (Chart 9). Hours per week in April were unchanged from March, but still below pre-pandemic levels.</p><p><img src=\"https://static.tigerbbs.com/499046534ca554e77c8cb117cb01083f\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p><p>The U.S. Treasury Department's spending has accelerated since March, which may have a \"countereffect\" on the job market. Note that since March 2021, the U.S. Treasury Department has begun to implement the TGA (Treasury General Account) reduction plan, spending approximately US $300 billion in March alone (Figure 10). In our previous report \"Slow Employment\" and \"Fast Inflation\" in the United States, we pointed out that the overall recovery of the U.S. job market is slow, which deviates from the \"fast recovery\" shown by other economic indicators. This is partly related to the vigorous fiscal stimulus in the United States. Since April 2020, government welfare has driven high income growth of residents, but at the same time, employment willingness may be suppressed, resulting in slow recovery of the job market and insufficient labor participation rate, and then enterprises have to raise wages to make up for the labor gap (Chart 11).</p><p><img src=\"https://static.tigerbbs.com/cfa89b00b22d2bd7e8def30542644a0e\" tg-width=\"1080\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p><p>4 Non-agricultural data in April was weak, but the market reacted positively</p><p>The market is obviously happy to see the weak employment data in the United States, and believes that the Federal Reserve is more likely to remain loose in the short term, and then the risk appetite will increase marginally, and the expectation of dollar depreciation and inflation expectation will further strengthen. After the release of non-agricultural data on May 7, the three major stock indexes all rose, with the Nasdaq, S&P 500 and Dow closing up 0.88%, 0.74% and 0.66% respectively (Chart 12); The bond market reacted positively. The 10-year U.S. bond yield plunged intraday, then rebounded, and finally closed up 2bp, of which the 10-year TIPS interest rate fell by 2bp (Chart 13); Gold futures prices were significantly boosted (Chart 14); The US Dollar Index dived and closed at 90.24, a new low since February 25 (Chart 15).</p><p><img src=\"https://static.tigerbbs.com/aaa756fa809932a70084916cd316142c\" tg-width=\"1080\" tg-height=\"941\" referrerpolicy=\"no-referrer\"></p><p>5 Be wary of the \"nonlinear\" recovery of American employment</p><p>We believe that in the next 1-2 months (May-June), we should be alert to the \"nonlinear\" recovery of employment in the United States and the risks it may bring.</p><p>The U.S. non-farm payrolls data in April was significantly weaker than that in March. Considering the improvement of the U.S. epidemic and the continued advancement of vaccination, this phenomenon seems somewhat unexpected. We have observed foreign media reports that U.S. residents' concerns about COVID-19 pandemic are still an important reason hindering employment recovery. In addition, the U.S. job market may be disturbed by unexpected events (affected by severe weather in February this year, affected by supply chain disruptions in April, etc.). All these mean that the recovery of the US job market is likely to be \"non-linear\".</p><p>There are three main risks of the \"nonlinear\" recovery of the U.S. economy: First, the market is accustomed to \"linear extrapolation\" thinking, which is easy to cause misjudgment. For example, the market believes that if the employment data is weak, the probability of the Fed tightening policy will decrease, and then actively embrace risks. Based on the non-farm payrolls data of 916,000 in March, the market predicts that non-farm payrolls will increase by 1 million in April, which is an example.<b>One possible scenario is that the market's expectations for the employment data in May are lower, but the actual data may be significantly higher than expected.</b>By then, the market's nervousness about the Fed's monetary policy shift may reach its highest point, leading to asset selling and market volatility.</p><p><b>Second, \"cluster recovery\" may push up inflation faster.</b>If COVID-19 pandemic is the main factor hindering the recovery of employment in the United States, then it can be expected that when the \"herd immunity\" in the United States approaches (we expect it to be around July, refer to the report \"How far is the United States from\" herd immunity \"?\"), employment may \"get together\" Recovery, then economic activities such as production and consumption may rebound rapidly, and inflation indicators may rise rapidly.</p><p><b>Third, the deviation between employment and inflation trends will increase the difficulty for the market to judge the Fed's policy, which will easily lead to market fluctuations.</b>Based on the latest PCE data released in March and the Federal Reserve's forecast of the year-on-year growth rate of PCE in 2021 (the median forecast is 2.4%), our benchmark calculation shows that the year-on-year growth rate of PCE from April to May this year may reach 3% (Chart 16). However, if employment recovery is still slow, the Fed will fall into the dilemma of \"slow employment\" and \"fast inflation\". At least it will be more difficult for the Fed to communicate with the market. U.S. stocks and other risky assets are prone to fluctuations, which deserves vigilance.</p><p><img src=\"https://static.tigerbbs.com/49dd065681f1d0a63d4960e36c6e256b\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/470669.html\">钟正生经济分析</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/67ddaab67c271192b52371b38356b471","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/470669.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175032729","content_text":"如果看环比，4月平均时薪环比增长0.8%，为今年以来最高增幅。\n\n事件：美国4月新增非农就业26.6万人，失业率为6.1%，劳动参与率为61.7%。\n1、 4月非农数据不及预期，哪些行业拖后腿?美国4月非农数据远低于前值和预期，就业缺口超820万人。4月新增非农就业26.6万人，此前市场预期接近100万人，3月初值为91.6万人、修正后为77万人。制造业、仓储运输业和“兼职”拖后腿，而休闲和酒店业表现亮眼。商品生产部门减少1.6万人，主要受制造业拖累;运输仓储业就业减少7.4万人，可能与国际供应链阻断有关;专业和商业服务业(“临时支持服务”)锐减11.14万人，但这可能是一个积极信号，表明“兼职”人员开始向“全职”转移。而休闲和酒店业大幅增加33.1万人，前值20.6万人，体现美国各州开始放宽人员流动限制。\n2、 4月非农初值可能并非美国就业形势的全貌。第一，4月劳动参与积极性边际改善，这也是失业率抬头的原因。4月失业率(U3)为6.1%，高于前值6.0%。不过，4月劳动参与率升0.2个百分点至61.7%，对应新增劳动力人口43万人。部分新进入劳动力市场的人口可能暂未找到工作，继而使“分子分母”同时增加、失业率暂时抬头。第二，“小非农”和初请失业金人数较为乐观。4月ADP私人部门新增就业74.2万人，高于前值56.5万人。最新初请失业金人数降至49.8万人，为疫情以来最低。第三，非农数据初值的准确性有限。非农就业报告会按月被修正。对于4月数据，供应链阻断等扰动或属暂时性，“兼职”人数减少和酒店旅游业就业增加亦是积极信号。4月美国实际就业形势或许没有那么悲观，不宜将此作为趋势进行“线性外推”。\n3、 4月平均时薪环比仍较快增长，财政刺激的“反作用”值得关注。4月非农非管理人员平均时薪同比增速大幅降落至1.15%，很大程度上源于基数效应，2020年4月非农非管理人员平均时薪由24.15美元升至25.16美元。如果看环比，4月平均时薪环比增长0.8%，为今年以来最高增幅。美国财政部3月以来支出加速，3月TGA(财政部一般账户)缩减约3000亿美元。而政府支出可能对就业市场产生“反作用”，2020年4月以来政府福利带动居民收入高增长，但与此同时就业意愿可能受到抑制，导致就业市场恢复偏慢，劳动参与率不足，继而企业不得不提高工资以弥补劳动力缺口。\n4、 4月非农数据疲弱，市场却反应积极。市场乐见就业数据疲弱，认为美联储短期更可能维持宽松，继而风险偏好边际升温，美元贬值预期以及通胀预期进一步走强。5月7日非农数据公布后，标普500指数再创新高;债市反应积极，10年美债收益率盘中跳水;黄金期货价格明显受到提振;美元指数跳水。\n5、 警惕美国就业“非线性”复苏及相关风险，5-6月市场波动可能加剧。考虑到美国疫情改善与疫苗接种持续推进，4月就业数据弱于3月有些出乎意料，意味着美国就业市场的恢复很可能是“非线性”的。“非线性”复苏的风险主要有三方面：一是，市场习惯于线性外推思维，容易造成误判。市场认为就业数据疲弱，美联储收紧政策的概率就会下降，继而主动拥抱风险。一个可能的情形是，5月就业数据可能大幅高于预期，届时市场对于货币政策转向的紧张情绪或至高点、引发市场波动。二是，“扎堆复苏”可能更快推升通胀。等到美国“群体免疫”临近(我们预计在7月左右)，就业可能“扎堆”复苏，继而生产、消费等经济活动可能快速反弹，通胀指标可能快速走高。三是，就业与通胀走势背离，将增加市场对于美联储政策判断的难度，继而容易引发市场波动。我们的基准测算显示，今年4-5月美国PCE同比增速或达到3%。但假如就业恢复仍然偏慢，美联储将陷入“慢就业”和“快通胀”的两难境地，至少美联储与市场沟通的难度将加大，美股及其他风险资产容易经历波动。\n1 4月非农数据不及预期，哪些行业在拖后腿?\n美国4月非农数据远低于前值和预期，目前就业缺口超820万人。美国4月新增非农就业26.6万人，此前市场预期接近100万人，3月初值为91.6万人、修正后为77万人。4月非农就业总人数为144.31万人，较前值144万人仅增加约3千人。目前，美国非农就业总人数比新冠疫情前(2020年2月)低821.5万人(图表1)。\n\n制造业、仓储运输业和“兼职”拖后腿，而休闲和酒店业表现亮眼。4月新增的26.6万人中，有23.4万人来自服务业、比3月减少一半以上，4.8万人来自政府部门、比3月减少约1/4，而商品生产部门减少1.6万人、3月为增加16.6万人。4月商品生产部门就业主要受制造业(尤其耐用品制造)拖累(图表2);运输仓储业就业减少7.4万人，可能与国际供应链阻断有关，此前美联储亦曾提及供应链“瓶颈”;专业和商业服务业锐减7.9万人，其中“临时支持服务”锐减11.14万人，但这可能是一个积极信号，表明“兼职”人员开始向“全职”转移。据美国劳工部(BLS)报告，“因经济原因从事非全日制工作”人数减少58万，原因是全职职位增加。而休闲和酒店业大幅增加33.1万人，前值20.6万人，体现美国各州开始放宽人员流动限制(图表3)。\n\n2 4月非农初值可能并非美国就业形势的全貌\n4月非农初值可能并非美国就业市场恢复节奏的全貌，仍有一系列信号指向美国就业市场正在边际改善。\n第一，4月美国劳动参与积极性边际改善，这也是失业率抬头的原因。4月美国失业率(U3)为6.1%，高于前值6.0%和市场预期的5.8%(图表4)。不过，4月美国劳动参与率升0.2个百分点至61.7%，对应新增劳动力人口43万人，虽然目前劳动力总人口仍比疫情前(2020年2月)低346万人(图表5)。部分新进入劳动力市场的人口可能暂未找到工作，继而使“分子分母”同时增加、失业率暂时抬头。此外，4月U6失业率(考虑更广义的失业人群)下降了0.3个百分点至10.4%。\n\n第二，“小非农”和初请失业金人数较为乐观。在非农数据前一天公布的“小非农”(ADP私人部门就业)数据显示，4月美国新增就业74.2万人，高于前值的56.5万人(图表6)。截至5月1日的一周，美国初请失业金人数继续下降至49.8万人，为疫情以来最低，虽然该数字仍为疫情前水平的2.1倍。截至4月24日的一周，美国续请失业金人数为369万人，略高于前值的365万人，为疫情前水平的2.4倍(图表7)。\n\n第三，需注意非农数据初值的准确性有限。5月7日美国财长耶伦讲话称，非农就业报告会按月被修正，不建议将某个月的数据视作潜在趋势。结合非农数据初值的结构性特点，我们认为，供应链阻断等扰动或属暂时，“兼职”人数减少和酒店旅游业就业增加亦是积极信号。4月美国实际就业形势或许没有那么悲观，不应将此作为趋势进行“线性外推”。\n3 4月平均时薪环比仍较快增长，财政刺激的“反作用”值得关注\n4月平均时薪同比增速大幅回落，主要是基数原因，实际薪资环比仍较快增长。疫情后劳动力市场供不应求，使美国非农员工平均时薪同比增速显著高于往年，3月非农非管理人员平均时薪同比增长4.55%。4月这一增速大幅降落至1.15%(图表8)，但很大程度上源于基数效应，2020年4月非农非管理人员平均时薪由24.15美元升至25.16美元。如果看环比，4月平均时薪环比增长0.8%，为今年以来最高增幅(图表9)。4月每周工时与3月持平，但仍低于疫情前水平。\n\n美国财政部3月以来支出加速，可能对就业市场产生“反作用”。注意到，2021年3月以来美国财政部开始执行TGA(财政部一般账户)缩减计划，仅3月就支出了约3000亿美元(图表10)。我们在之前报告《美国的“慢就业”与“快通胀”》中指出，美国就业市场恢复整体偏慢，与其他经济指标所显示的“快复苏”背离，这一定程度上与美国大力度的财政刺激有关。2020年4月以来，政府福利带动居民收入高增长，但与此同时就业意愿可能受到抑制，导致就业市场恢复偏慢、劳动参与率不足，继而企业不得不提高工资以弥补劳动力缺口(图表11)。\n\n4 4月非农数据疲弱，市场却反应积极\n市场显然乐见美国就业数据疲弱，认为美联储短期更可能维持宽松，继而风险偏好边际升温，美元贬值预期以及通胀预期进一步走强。5月7日非农数据公布后，三大股指齐涨，纳指、标普500和道指分别收涨0.88%、0.74%和0.66%(图表12);债市反应积极，10年美债收益率盘中跳水、之后回升，最终收涨2bp，其中10年TIPS利率降2bp(图表13);黄金期货价格明显受到提振(图表14);美元指数跳水、收于90.24，为2月25日以来新低(图表15)。\n\n5 警惕美国就业的“非线性”复苏\n我们认为，未来1-2个月(5-6月)应警惕美国就业的“非线性”复苏，及其可能带来的风险。\n4月美国非农就业数据明显弱于3月，考虑到美国疫情改善与疫苗接种持续推进，这一现象似乎有些始料未及。我们观察外媒报道，美国居民对新冠疫情的担忧依然是阻碍就业恢复的重要原因。此外，美国就业市场可能受到突发事件扰动(今年2月受恶劣天气影响、4月受供应链受阻影响等)。这些均意味着，美国就业市场的恢复很可能是“非线性”的。\n美国经济“非线性”复苏的风险主要有三方面：一是，市场习惯于“线性外推”思维，容易造成误判。例如，市场认为就业数据疲弱，美联储收紧政策的概率就会下降，继而主动拥抱风险。市场基于3月91.6万的非农就业数据，预测4月非农新增100万，就是一个例子。一个可能的情形是，市场对5月就业数据的预期降低，但实际数据可能大幅高于预期。届时，市场对于美联储货币政策转向的紧张情绪或至高点，导致资产抛售与市场震荡。\n二是，“扎堆复苏”可能更快推升通胀。如果新冠疫情是阻碍美国就业恢复的主因，那么可以预计等到美国“群体免疫”临近(我们预计在7月左右，参考报告《美国离“群体免疫”还有多远?》)，就业可能“扎堆”复苏，继而生产、消费等经济活动可能快速反弹，通胀指标可能快速走高。\n三是，就业与通胀走势背离，将增加市场对于美联储政策判断的难度，继而容易引发市场波动。基于最新公布的3月PCE数据，以及美联储对于2021年PCE同比增速的预判(预测中值为2.4%)，我们的基准测算显示，今年4-5月PCE同比增速或达到3%(图表16)。但假如就业恢复仍然偏慢，美联储将陷入“慢就业”和“快通胀”的两难境地，至少美联储与市场沟通的难度将加大，美股及其他风险资产容易经历波动，值得警惕。","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109775678,"gmtCreate":1619736671894,"gmtModify":1704271452297,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"5151","listText":"5151","text":"5151","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/109775678","repostId":"1170908014","repostType":4,"repost":{"id":"1170908014","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618906754,"share":"https://ttm.financial/m/news/1170908014?lang=en_US&edition=fundamental","pubTime":"2021-04-20 16:19","market":"fut","language":"zh","title":"Reminder: A-shares are closed for three days on May Day, and Hong Kong and US stocks trade as usual","url":"https://stock-news.laohu8.com/highlight/detail?id=1170908014","media":"老虎资讯综合","summary":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，","content":"<p>The May Day holiday is coming soon. It is worth mentioning that this year's May Day will continue to take five consecutive days off. Regarding the May Day stock market arrangement, it is also the focus of investors' attention. Let's take a look at how many days the May Day stock market will be closed in 2021?<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will open as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>British stocks:</b></p><p>May 3rd (Monday) is the traditional British festival Bank holiday, and the British stock market is closed for one day</p><p><b>Singapore market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>Closed May 1st (Saturday) to May 5th (Wednesday) and open as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>Closed from Thursday, April 29 to Wednesday, May 5, and open as usual from Thursday, May 6.</p><p>I wish all the most beautiful workers a happy May Day, peace and joy!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></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>Reminder: A-shares are closed for three days on May Day, and Hong Kong and US stocks trade as usual</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\">\nReminder: A-shares are closed for three days on May Day, and Hong Kong and US stocks trade as usual\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 16:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday is coming soon. It is worth mentioning that this year's May Day will continue to take five consecutive days off. Regarding the May Day stock market arrangement, it is also the focus of investors' attention. Let's take a look at how many days the May Day stock market will be closed in 2021?<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will open as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>British stocks:</b></p><p>May 3rd (Monday) is the traditional British festival Bank holiday, and the British stock market is closed for one day</p><p><b>Singapore market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>Closed May 1st (Saturday) to May 5th (Wednesday) and open as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>Closed from Thursday, April 29 to Wednesday, May 5, and open as usual from Thursday, May 6.</p><p>I wish all the most beautiful workers a happy May Day, peace and joy!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170908014","content_text":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，5月6日（周四）起照常开市。港股：照常交易。美股：照常交易。英股：5月3日（周一）为英国传统节日Bank holiday，英股休市一日新加坡市场：照常交易。澳大利亚市场：照常交易。沪股通、深股通：5月1日（周六）至5月5日（周三）关闭，5月6日（周四）起照常开通。港股通：4月29日（周四）至5月5日（周三）关闭，5月6日（周四）起照常开通。祝各位最美劳动者五一节日快乐，平安喜乐！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":690,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9936000760,"gmtCreate":1662681376550,"gmtModify":1676537115220,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9936000760","repostId":"1193358135","repostType":4,"isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9043285605,"gmtCreate":1655939999907,"gmtModify":1676535734142,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043285605","repostId":"1165129643","repostType":4,"repost":{"id":"1165129643","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1655911360,"share":"https://ttm.financial/m/news/1165129643?lang=en_US&edition=fundamental","pubTime":"2022-06-22 23:22","market":"hk","language":"zh","title":"Shushulang Education Holdings Limited passed listing hearing on the Hong Kong Stock Exchange","url":"https://stock-news.laohu8.com/highlight/detail?id=1165129643","media":"老虎资讯综合","summary":"据港交所官网文件显示，6月22日晚，读书郎教育控股有限公司通过港交所上市聆讯，中信建投证券和麦格理为其联席保荐人。读书郎教育控股有限公司，是中国主要的智能学习硬件、系统和内容供应商。成立于1999年，","content":"<p><html><head></head><body>According to documents on the official website of the Hong Kong Stock Exchange, on the evening of June 22, Shushulang Education Holdings Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange, with China Securities and Macquarie as its joint sponsors.</p><p>Shushulang Education Holdings Co., Ltd. is a major provider of intelligent learning hardware, systems and content in China. Founded in 1999, it is committed to providing students with integrated solutions for intelligent learning (ToC) and schools with integrated solutions for intelligent campus (ToB/G). As of the Latest Practicable Date, Shushulang products mainly include smart learning hardware such as AI student tablets and phone watches, Shushulang smart campus solutions, and provide AI and big data systems, educational content research and development and services.</p><p></body></html></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>Shushulang Education Holdings Limited passed listing hearing on the Hong Kong Stock Exchange</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\">\nShushulang Education Holdings Limited passed listing hearing on the Hong Kong Stock Exchange\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-06-22 23:22</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>According to documents on the official website of the Hong Kong Stock Exchange, on the evening of June 22, Shushulang Education Holdings Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange, with China Securities and Macquarie as its joint sponsors.</p><p>Shushulang Education Holdings Co., Ltd. is a major provider of intelligent learning hardware, systems and content in China. Founded in 1999, it is committed to providing students with integrated solutions for intelligent learning (ToC) and schools with integrated solutions for intelligent campus (ToB/G). As of the Latest Practicable Date, Shushulang products mainly include smart learning hardware such as AI student tablets and phone watches, Shushulang smart campus solutions, and provide AI and big data systems, educational content research and development and services.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f45e630f2b8423c1283fe921facb38e","relate_stocks":{"02385":"读书郎"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165129643","content_text":"据港交所官网文件显示，6月22日晚，读书郎教育控股有限公司通过港交所上市聆讯，中信建投证券和麦格理为其联席保荐人。读书郎教育控股有限公司，是中国主要的智能学习硬件、系统和内容供应商。成立于1999年，致力于为学生提供智慧学习一体化解决方案（ToC），为学校提供智慧校园一体化解决方案（ToB/G）。截至最后实际可行日期，读书郎产品主要有AI学生平板、电话手表等为主的智慧学习硬件、读书郎智慧校园解决方案，并提供AI 和大数据系统、教育内容研发和服务。","news_type":1,"symbols_score_info":{"90098":0.9,"02385":1}},"isVote":1,"tweetType":1,"viewCount":1357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9089838779,"gmtCreate":1649980626357,"gmtModify":1676534619678,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/UBS\">$瑞银(UBS)$</a>upup","listText":"<a href=\"https://ttm.financial/S/UBS\">$瑞银(UBS)$</a>upup","text":"$瑞银(UBS)$upup","images":[{"img":"https://community-static.tradeup.com/news/8b0344e7501c0a0f6f4504d115e170f1","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9089838779","isVote":1,"tweetType":1,"viewCount":734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9019664933,"gmtCreate":1648596790235,"gmtModify":1676534359245,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/UBS\">$瑞银(UBS)$</a>up up up","listText":"<a href=\"https://ttm.financial/S/UBS\">$瑞银(UBS)$</a>up up up","text":"$瑞银(UBS)$up up up","images":[{"img":"https://community-static.tradeup.com/news/18a58fa4766337f4281fecc6bcab4ffe","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9019664933","isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9031094708,"gmtCreate":1646377360857,"gmtModify":1676534123925,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"12000🙄🙄","listText":"12000🙄🙄","text":"12000🙄🙄","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031094708","repostId":"2216455949","repostType":4,"repost":{"id":"2216455949","kind":"highlight","pubTimestamp":1646374855,"share":"https://ttm.financial/m/news/2216455949?lang=en_US&edition=fundamental","pubTime":"2022-03-04 14:20","market":"us","language":"zh","title":"Copper inventories are extremely low, Goldman Sachs said copper prices are expected to break through $12,000!","url":"https://stock-news.laohu8.com/highlight/detail?id=2216455949","media":"华尔街见闻","summary":"高盛指出，作为全球最大铜生产国之一，俄罗斯铜出口渠道在制裁后将严重受限；考虑到目前明显的供应紧缺环境，铜库存有望进一步下降。","content":"<p><html><head></head><body>\"Commodity Standard Bearer\"<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Continue to be bullish on copper prices, saying that the market \"misjudged\" Russian supply risks, and copper prices will reach a record high of US $12,000 per ton in the next 12 months. Goldman Sachs said Russia is one of the world's largest copper producers, with annual refined copper output of nearly 1 million tons, accounting for 7% of supply excluding China, and is the second largest exporter of refined copper. So far, copper prices have responded relatively mildly to the risk of supply shortages caused by the escalation of the Russia-Ukraine conflict, and this market reaction may be miscalculated.</p><p>After European and American countries introduce sanctions, Russia's export channels will be severely restricted. At present, the market is in an obvious supply shortage environment, and copper inventories are expected to face a further decline (after Russian exports are restricted), which will further push up copper prices.</p><p>In terms of copper inventories, inventories in the global copper market at the beginning of this year were far below historical levels, and room for relief was very limited. After the first quarter, judging from the historical market supply situation, it is not enough to solve the deficit problem in 2022. Goldman Sachs previously predicted that the supply and demand deficit this year will reach 197,000 tons.</p><p>The longer this situation continues, the higher the risk of extreme scarcity at the end of the year. Using seasonal criteria and the inventory path of its full-year deficit, Goldman Sachs inferred that global visible inventories will fall below 150,000 tons.</p><p>Previous news articles pointed out that the invisible inventory of the London Metal Exchange, one of the world's three largest futures exchanges, disappeared rapidly. In the first 11 months of 2021, the LME's copper spot inventory decreased by 115,000 tons, and the total at the end of November was only 18,945 tons. The lowest level since the exchange began releasing the data in February 2020.</p><p>In such a tight supply environment, the phenomenon of copper spot premium is becoming more and more serious. Typically, when there is a mismatch between supply and demand in the market, the market will enter a spot premium state to encourage inventory holders to bring goods to market.</p><p>In fact, there has been a spot premium phenomenon in the copper market since last October, and since there has been no sharp rise, the market has little sign of this. Goldman Sachs expects the spot premium to persist and the spread between copper spot and futures to continue to widen.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Copper inventories are extremely low, Goldman Sachs said copper prices are expected to break through $12,000!</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\">\nCopper inventories are extremely low, Goldman Sachs said copper prices are expected to break through $12,000!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-03-04 14:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>\"Commodity Standard Bearer\"<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Continue to be bullish on copper prices, saying that the market \"misjudged\" Russian supply risks, and copper prices will reach a record high of US $12,000 per ton in the next 12 months. Goldman Sachs said Russia is one of the world's largest copper producers, with annual refined copper output of nearly 1 million tons, accounting for 7% of supply excluding China, and is the second largest exporter of refined copper. So far, copper prices have responded relatively mildly to the risk of supply shortages caused by the escalation of the Russia-Ukraine conflict, and this market reaction may be miscalculated.</p><p>After European and American countries introduce sanctions, Russia's export channels will be severely restricted. At present, the market is in an obvious supply shortage environment, and copper inventories are expected to face a further decline (after Russian exports are restricted), which will further push up copper prices.</p><p>In terms of copper inventories, inventories in the global copper market at the beginning of this year were far below historical levels, and room for relief was very limited. After the first quarter, judging from the historical market supply situation, it is not enough to solve the deficit problem in 2022. Goldman Sachs previously predicted that the supply and demand deficit this year will reach 197,000 tons.</p><p>The longer this situation continues, the higher the risk of extreme scarcity at the end of the year. Using seasonal criteria and the inventory path of its full-year deficit, Goldman Sachs inferred that global visible inventories will fall below 150,000 tons.</p><p>Previous news articles pointed out that the invisible inventory of the London Metal Exchange, one of the world's three largest futures exchanges, disappeared rapidly. In the first 11 months of 2021, the LME's copper spot inventory decreased by 115,000 tons, and the total at the end of November was only 18,945 tons. The lowest level since the exchange began releasing the data in February 2020.</p><p>In such a tight supply environment, the phenomenon of copper spot premium is becoming more and more serious. Typically, when there is a mismatch between supply and demand in the market, the market will enter a spot premium state to encourage inventory holders to bring goods to market.</p><p>In fact, there has been a spot premium phenomenon in the copper market since last October, and since there has been no sharp rise, the market has little sign of this. Goldman Sachs expects the spot premium to persist and the spread between copper spot and futures to continue to widen.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3653397\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eeb9a4d452d8568bcc6a2558535ad160","relate_stocks":{"BK4552":"Archegos爆仓风波概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4504":"桥水持仓","BK4550":"红杉资本持仓"},"source_url":"https://wallstreetcn.com/articles/3653397","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2216455949","content_text":"“商品旗手”高盛继续唱多铜价，称市场“误判”俄罗斯供应风险，铜价未来12个月将上探每吨12000美元的纪录高位。高盛表示，俄罗斯是全球最大的铜生产国之一，年精炼铜产量接近100万吨，占除中国外供应的7%，并且是第二大精炼铜出口国。到目前为止，铜价对俄乌冲突升级造成的供应紧缺风险反应相对温和，这种市场反应可能存在误判。在欧美各国开启制裁措施后，俄罗斯的出口渠道将严重受限。目前市场处于明显的供应紧缺环境，（在俄罗斯出口受限后）铜库存有望面临进一步下降，这将进一步推高铜价。在铜库存方面，今年伊始全球铜市场的库存远低于历史水平，缓解空间十分有限。一季度后，从历史市场供给情况来看，也不足以解决2022年的赤字问题，高盛此前预计今年的供需赤字将达到19.7万吨。这种情况持续得越久年底出现极端稀缺的风险越高。高盛使用季节标准和其全年赤字的库存路径推断得出，全球可见库存将跌至15万吨以下。此前见闻文章指出，全球三大期货交易所之一伦敦金属交易所隐形库存消失得飞快，2021年前11个月，LME的铜现货库存减少了11.5万吨，11月底的总量只有18945吨，是该交易所自2020年2月开始发布该数据以来的最低水平。在如此紧张的供应环境下，铜现货升水现象越来越严重。通常情况下，市场供需出现不匹配时，市场就会进入现货溢价状态，以鼓励库存持有者将商品推向市场。事实上，自去年10月以来，铜市场就一直存在现货溢价现象，由于没有出现大幅的上涨，市场几乎没有迹象表明这一点。高盛预计，现货溢价将持续存在，铜现货和期货的价差将不断扩大。","news_type":1,"symbols_score_info":{"HGmain":0.9}},"isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004144023,"gmtCreate":1642548286837,"gmtModify":1676533720666,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Like &amp; comment","listText":"Like &amp; comment","text":"Like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004144023","repostId":"1145796847","repostType":4,"isVote":1,"tweetType":1,"viewCount":1555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319171817,"gmtCreate":1611561210239,"gmtModify":1704860710923,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Baidu Huat ya","listText":"Baidu Huat ya","text":"Baidu Huat ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/319171817","repostId":"1111711385","repostType":4,"repost":{"id":"1111711385","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1611560709,"share":"https://ttm.financial/m/news/1111711385?lang=en_US&edition=fundamental","pubTime":"2021-01-25 15:45","market":"us","language":"zh","title":"Baidu plans a secondary listing in Hong Kong as early as March","url":"https://stock-news.laohu8.com/highlight/detail?id=1111711385","media":"老虎资讯综合","summary":"据路透社旗下媒体IFR：百度计划最早于3月在香港二次上市。","content":"<p>According to IFR, a Reuters media:<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A secondary listing in Hong Kong is planned as early as March.</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>Baidu plans a secondary listing in Hong Kong as early as March</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\">\nBaidu plans a secondary listing in Hong Kong as early as March\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-01-25 15:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to IFR, a Reuters media:<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>A secondary listing in Hong Kong is planned as early as March.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9c9083ea560ad849832bc28e4921bb34","relate_stocks":{"BIDU":"百度"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111711385","content_text":"据路透社旗下媒体IFR：百度计划最早于3月在香港二次上市。","news_type":1,"symbols_score_info":{"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945748720,"gmtCreate":1681608707460,"gmtModify":1681608711285,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Kkkkkkkkkkkkkkkkkkkkkkkkkkk&nbsp;","listText":"Kkkkkkkkkkkkkkkkkkkkkkkkkkk&nbsp;","text":"Kkkkkkkkkkkkkkkkkkkkkkkkkkk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945748720","isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045567444,"gmtCreate":1656635996488,"gmtModify":1676535867773,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045567444","repostId":"1197380978","repostType":4,"isVote":1,"tweetType":1,"viewCount":805,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9020949037,"gmtCreate":1652574433029,"gmtModify":1676535121252,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9020949037","repostId":"1124669866","repostType":4,"isVote":1,"tweetType":1,"viewCount":1151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097535701,"gmtCreate":1645494756527,"gmtModify":1676534033225,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097535701","repostId":"2213984032","repostType":4,"repost":{"id":"2213984032","kind":"news","pubTimestamp":1645489765,"share":"https://ttm.financial/m/news/2213984032?lang=en_US&edition=fundamental","pubTime":"2022-02-22 08:29","market":"sh","language":"zh","title":"Putin announces major events! European stocks collectively dived, oil and gold prices soared","url":"https://stock-news.laohu8.com/highlight/detail?id=2213984032","media":"中证报","summary":"　　据央视新闻报道，当地时间2月21日，俄罗斯总统普京签署承认顿涅茨克人民共和国和卢甘斯克人民共和国的总统令，并签署俄罗斯与顿涅茨克人民共和国和卢甘斯克人民共和国的友好合作互助条约。　　金融市场方面，美股因假期休市，欧洲主要股指全线下跌。俄罗斯交易系统指数RTS一度暴跌17%，俄罗斯基准股指跌逾10%。油价飙升，黄金也升至八个月高位。","content":"<p><html><head></head><body>According to CCTV news reports, on February 21, local time, Russian President Vladimir Putin signed a presidential decree recognizing the Donetsk People's Republic and the Luhansk People's Republic, and signed a treaty of friendship, cooperation and mutual assistance between Russia and the Donetsk People's Republic and the Luhansk People's Republic.</p><p>In terms of financial markets, U.S. stocks were closed due to holidays, and major European stock indexes fell across the board. The Russian trading system index RTS once plunged 17%, and the Russian benchmark stock index fell more than 10%. Oil prices surged, and gold also rose to an eight-month high.</p><p>The latest developments in the situation in eastern Ukraine attract attention</p><p>According to CCTV news reports, on February 21, local time, Russian President Vladimir Putin delivered a national video speech, announcing the recognition of the Donetsk People's Republic and the Luhansk People's Republic, which are self-proclaimed by civilian armed forces in eastern Ukraine, as independent countries.</p><p>In his speech, Putin said that the situation in Donbass is extremely serious. He made a televised speech not only to assess the situation, but also to tell the people about Russia's decision and possible measures in this regard. In his speech, Putin first reviewed history, and then said that Western countries such as the United States and NATO have begun to use Ukraine as a potential war site, constantly sending weapons and military instructors and advisers to Ukraine. NATO holds joint military exercises with Ukraine and stations troops in Ukraine. Ukraine's airspace and waters are also open to NATO. NATO headquarters can even directly command the Ukrainian armed forces.</p><p>On the other hand, according to CCTV News, US White House Press Spokesperson Jen Psaki issued a statement on February 21, local time, in response to Russian President Vladimir Putin's signing of an order recognizing the Donetsk Republic and the Luhansk Republic.</p><p>Psaki said the United States has anticipated such Russian action and is ready to respond immediately. President Biden will soon issue an executive order prohibiting Americans from making new investments in the Donetsk and Luhansk regions. Investment, trade and financing, the executive order will also authorize sanctions against those who decide to operate in these two regions.</p><p>European stocks fell across the board, Russian stocks fell more than 10%</p><p>In terms of financial markets, U.S. stocks were closed due to holidays that day, and major European stock indexes fell across the board. The Russian benchmark stock index fell by more than 10%, and the Russian trading system index RTS once plummeted by 17%.</p><p>According to Wind data, the German DAX index fell 2.07% to 14,731.12 points; France's CAC40 index fell 2.04% to 6788.34 points;<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index fell 0.39% to 7484.33 points; Italy's FTSE MIB index fell 1.72% to 26,050.03 points; The European STOXX50 index fell 2.17% to 3985.71 points; Russia's MOEX index fell 10.50% to 3036.88 points.</p><p><img src=\"https://static.tigerbbs.com/62edc39c70128530a54386ba9fb40b29\" tg-width=\"1080\" tg-height=\"596\" referrerpolicy=\"no-referrer\"/>Source: Wind</p><p>The Russian ruble once fell to 80.54 rubles against the U.S. dollar on Tuesday morning Beijing time, a new low since November 2020.</p><p>Brent crude oil futures rose more than 4% during the day, standing at a high of $97.00/barrel; WTI crude oil also rose 2.5% to $92.50 a barrel. Brent crude oil futures for April closed up $1.85, or 1.98%, at $95.39 a barrel.</p><p>Gold prices showed a rebound momentum, with spot gold once rising to an eight-and-a-half-month high of $1,908. Geopolitical tensions have also triggered net inflows to gold-related ETFs.</p><p></body></html></p>","source":"sina","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>Putin announces major events! European stocks collectively dived, oil and gold prices soared</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\">\nPutin announces major events! European stocks collectively dived, oil and gold prices soared\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中证报</strong><span class=\"h-time small\">2022-02-22 08:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>According to CCTV news reports, on February 21, local time, Russian President Vladimir Putin signed a presidential decree recognizing the Donetsk People's Republic and the Luhansk People's Republic, and signed a treaty of friendship, cooperation and mutual assistance between Russia and the Donetsk People's Republic and the Luhansk People's Republic.</p><p>In terms of financial markets, U.S. stocks were closed due to holidays, and major European stock indexes fell across the board. The Russian trading system index RTS once plunged 17%, and the Russian benchmark stock index fell more than 10%. Oil prices surged, and gold also rose to an eight-month high.</p><p>The latest developments in the situation in eastern Ukraine attract attention</p><p>According to CCTV news reports, on February 21, local time, Russian President Vladimir Putin delivered a national video speech, announcing the recognition of the Donetsk People's Republic and the Luhansk People's Republic, which are self-proclaimed by civilian armed forces in eastern Ukraine, as independent countries.</p><p>In his speech, Putin said that the situation in Donbass is extremely serious. He made a televised speech not only to assess the situation, but also to tell the people about Russia's decision and possible measures in this regard. In his speech, Putin first reviewed history, and then said that Western countries such as the United States and NATO have begun to use Ukraine as a potential war site, constantly sending weapons and military instructors and advisers to Ukraine. NATO holds joint military exercises with Ukraine and stations troops in Ukraine. Ukraine's airspace and waters are also open to NATO. NATO headquarters can even directly command the Ukrainian armed forces.</p><p>On the other hand, according to CCTV News, US White House Press Spokesperson Jen Psaki issued a statement on February 21, local time, in response to Russian President Vladimir Putin's signing of an order recognizing the Donetsk Republic and the Luhansk Republic.</p><p>Psaki said the United States has anticipated such Russian action and is ready to respond immediately. President Biden will soon issue an executive order prohibiting Americans from making new investments in the Donetsk and Luhansk regions. Investment, trade and financing, the executive order will also authorize sanctions against those who decide to operate in these two regions.</p><p>European stocks fell across the board, Russian stocks fell more than 10%</p><p>In terms of financial markets, U.S. stocks were closed due to holidays that day, and major European stock indexes fell across the board. The Russian benchmark stock index fell by more than 10%, and the Russian trading system index RTS once plummeted by 17%.</p><p>According to Wind data, the German DAX index fell 2.07% to 14,731.12 points; France's CAC40 index fell 2.04% to 6788.34 points;<a href=\"https://laohu8.com/S/VUKE.UK\">UK FTSE 100</a>The index fell 0.39% to 7484.33 points; Italy's FTSE MIB index fell 1.72% to 26,050.03 points; The European STOXX50 index fell 2.17% to 3985.71 points; Russia's MOEX index fell 10.50% to 3036.88 points.</p><p><img src=\"https://static.tigerbbs.com/62edc39c70128530a54386ba9fb40b29\" tg-width=\"1080\" tg-height=\"596\" referrerpolicy=\"no-referrer\"/>Source: Wind</p><p>The Russian ruble once fell to 80.54 rubles against the U.S. dollar on Tuesday morning Beijing time, a new low since November 2020.</p><p>Brent crude oil futures rose more than 4% during the day, standing at a high of $97.00/barrel; WTI crude oil also rose 2.5% to $92.50 a barrel. Brent crude oil futures for April closed up $1.85, or 1.98%, at $95.39 a barrel.</p><p>Gold prices showed a rebound momentum, with spot gold once rising to an eight-and-a-half-month high of $1,908. Geopolitical tensions have also triggered net inflows to gold-related ETFs.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/wm/2022-02-22/doc-imcwiwss2215851.shtml\">中证报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d0f100ea564a5266a968245cbcfe466f","relate_stocks":{"USO":"美国原油ETF","SCO":"二倍做空彭博原油指数ETF","UCO":"二倍做多彭博原油ETF"},"source_url":"https://finance.sina.com.cn/wm/2022-02-22/doc-imcwiwss2215851.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2213984032","content_text":"据央视新闻报道，当地时间2月21日，俄罗斯总统普京签署承认顿涅茨克人民共和国和卢甘斯克人民共和国的总统令，并签署俄罗斯与顿涅茨克人民共和国和卢甘斯克人民共和国的友好合作互助条约。金融市场方面，美股因假期休市，欧洲主要股指全线下跌。俄罗斯交易系统指数RTS一度暴跌17%，俄罗斯基准股指跌逾10%。油价飙升，黄金也升至八个月高位。乌东局势最新进展受关注据央视新闻报道，当地时间2月21日，俄罗斯总统普京发表全国视频讲话，宣布承认乌东民间武装自称的顿涅茨克人民共和国和卢甘斯克人民共和国为独立国家。普京在讲话中表示，顿巴斯局势极其严峻。他发表电视讲话，不仅是为了评估事态，也是为了告诉国民俄罗斯所做的决定以及就此可能采取的措施。普京在讲话中首先回顾了历史，随后表示美国和北约等西方国家已开始利用乌克兰作为潜在战争场所，不断向乌克兰输送武器，派遣军事教官和顾问。北约与乌克兰举行联合军演，在乌克兰境内驻军，乌克兰的空域和水域也向北约开放。北约总部甚至可以直接指挥乌克兰武装部队。另一方面，据央视新闻报道，美国白宫新闻发言人珍·普萨基当地时间2月21日发表声明，针对俄罗斯总统普京签署承认顿涅茨克共和国和卢甘斯克共和国的命令作出回应。普萨基表示，美国已经预料到俄罗斯会采取这种行动，并准备立即作出反应，总统拜登将很快发布一项行政命令，禁止美国人在顿涅茨克和卢甘斯克地区进行新的投资、贸易和融资，该行政令还将授权对决定在这两个地区活动的人实施制裁。欧股全线下跌 俄股跌逾10%金融市场方面，当日美股因假期休市，欧洲主要股指全线下跌，俄罗斯基准股指跌逾10%，俄罗斯交易系统指数RTS一度暴跌17%。据Wind数据，德国DAX指数跌2.07%，报14731.12点；法国CAC40指数跌2.04%，报6788.34点；英国富时100指数跌0.39%，报7484.33点；意大利富时MIB指数跌1.72%，报26050.03点；欧洲STOXX50指数跌2.17%，报3985.71点；俄罗斯MOEX指数跌10.50%，报3036.88点。来源：Wind俄罗斯卢布兑美元在北京时间周二早间一度跌至80.54卢布，创2020年11月份以来新低。布伦特原油期货日内涨超4%，站上97.00美元/桶高位；WTI原油也涨2.5%，报92.50美元/桶。布伦特4月原油期货收涨1.85美元，涨幅1.98%，报95.39美元/桶。黄金价格出现反弹势头，现货黄金一度升破至1908美元的八个半月最高。地缘政治紧张局势也引发黄金相关的ETF净流入。","news_type":1,"symbols_score_info":{"QMmain":0.67,"CLmain":0.6,"SCO":0.67,"UCO":0.67,"UWTIF":0.67,"USO":0.6,"GCmain":0.6,"MGCmain":0.75}},"isVote":1,"tweetType":1,"viewCount":725,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362201066,"gmtCreate":1614639528955,"gmtModify":1704773315841,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"Zoom Zoom?","listText":"Zoom Zoom?","text":"Zoom Zoom?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/362201066","repostId":"1149166486","repostType":4,"repost":{"id":"1149166486","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614637856,"share":"https://ttm.financial/m/news/1149166486?lang=en_US&edition=fundamental","pubTime":"2021-03-02 06:30","market":"us","language":"zh","title":"Zoom's Q4 financial report for fiscal year 2021 exceeded expectations, rising nearly 9% after hours","url":"https://stock-news.laohu8.com/highlight/detail?id=1149166486","media":"老虎资讯综合","summary":"3月2日讯，视频会议软件开发商Zoom今日公布了该公司的2021财年第四季度及全年财报。报告显示，Zoom第四季度总营收为8.825亿美元，与上年同期的1.883亿美元相比增长369%；净利润为2.6","content":"<p>March 2nd, video conferencing software developer<a href=\"https://laohu8.com/S/ZM\">Zoom</a>The company's fourth quarter and full-year financial reports for fiscal year 2021 were announced today. The report shows that Zoom's total revenue in the fourth quarter was US $882.5 million, an increase of 369% compared with US $188.3 million in the same period last year; Net profit was US $260.6 million, compared with US $15.34 million in the same period last year; The net profit attributable to the company's common shareholders was US $260.4 million, a significant increase of 16 times compared with US $15.31 million in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/4351113f148854ff1f87ac1864e6e3bf\" tg-width=\"1075\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5207be7eac1601586769907c74c8152f\" tg-width=\"1087\" tg-height=\"323\" referrerpolicy=\"no-referrer\"></p><p>Zoom's results exceeded Wall Street analysts' expectations for the fourth quarter and the entire fiscal 2021, and its outlook for the first quarter of fiscal 2022 and the full year of fiscal 2022 also exceeded expectations, driving its after-hours stock price up nearly 9%.</p><p><img src=\"https://static.tigerbbs.com/6c74ef4eba72e09868dcc9d0fc85d690\" tg-width=\"1302\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><b>Fourth Quarter Results Summary:</b></p><p>In the fiscal quarter ended January 31, 2021, Zoom's net profit was US $260.6 million, compared with US $15.34 million in the same period last year; The net profit attributable to the company's common shareholders was US $260.4 million, a substantial increase of 16 times compared with US $15.31 million in the same period last year; Diluted earnings per share attributable to the company's common shareholders was $0.87, compared to $0.05 in the same period last year.</p><p>Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted net profit in the fourth quarter was US $365.4 million, and its diluted earnings per share were US $1.22. Compared with the adjusted net profit of US $43.23 million in the same period last year and diluted earnings per share of 0.15 yuan, this performance far exceeded analysts' previous expectations. According to data provided by Yahoo Finance Channel, 24 analysts had previously expected Zoom's adjusted diluted earnings per share to reach $0.79 in the fourth quarter on average.</p><p>Zoom's total revenue in the fourth quarter was $882.5 million, an increase of 369% compared with $188.3 million in the same period last year, and also exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 22 analysts had previously expected Zoom's fourth-quarter revenue to reach $811.77 million on average.</p><p>Zoom's cost of revenue in the fourth quarter was $267.3 million, compared with $32.55 million in the same period last year. Zoom's fourth-quarter gross profit was $615.2 million, compared to $155.7 million in the same period last year.</p><p>Zoom's operating expenses in the fourth quarter were $359.1 million, compared to $145.2 million in the same period last year. Among them, research and development expenditures were US $52.38 million, compared with US $20.67 million in the same period last year; Sales and marketing expenses were $214.0 million, compared to $100.9 million in the same period last year; General and administrative expenses were $92.69 million, compared to $23.58 million in the same period last year.</p><p>Zoom's operating profit in the fourth quarter was $256.1 million, compared with $10.55 million in the same period last year. Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted operating profit in the fourth quarter was $360.9 million, compared with the same period last year Adjusted operating profit was $38.45 million. Zoom's fourth-quarter operating margin was 29.0%, and its non-GAAP adjusted operating margin was 40.9%.</p><p>Customer metrics:</p><p>Drivers of total revenue include new customer acquisition and expansion of existing customer base. At the end of the fourth quarter of fiscal 2021, Zoom had:</p><p>The total number of customers with more than 10 employees was approximately 467,100, an increase of approximately 470% compared with the same period last year;</p><p>1,644 customers contributed more than $100,000 in revenue in the past 12 months, an increase of approximately 156% compared with the same period last year;</p><p>Customers with more than 10 employees had a trailing 12-month net dollar expansion rate of more than 130% for the 11th consecutive quarter.</p><p>Cash related news:</p><p>Zoom's net cash from operating activities in the fourth quarter was $399.4 million, compared with $3,660 trillion in the same period last year. Zoom's free cash flow in the fourth quarter was $377.9 million, compared to $26.6 million in the same period last year.</p><p>As of April 30, 2021, Zoom held total cash, cash equivalents and marketable securities (excluding restricted cash) of $4,244.7 million.</p><p><b>Summary of FY2021 Results:</b></p><p>Throughout fiscal year 2021, Zoom's total revenue was $2,651.4 million, an increase of 326% compared to the previous fiscal year, exceeding analyst expectations. According to data provided by Yahoo Finance Channel, 25 analysts had previously expected Zoom's full-year revenue to reach $2.58 billion on average.</p><p>Zoom's operating profit for the full year was $659.8 million, compared to $12.7 million in the previous fiscal year. Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted operating profit for the full year was $983.3 million, compared to the previous fiscal year. It was $88.7 million. Zoom's operating margin for the full year was 24.9%, and its non-GAAP adjusted operating margin was 37.1%.</p><p>Zoom's full-year net profit attributable to common shareholders was $671.5 million, or diluted earnings per share was $2.25, compared with net profit attributable to common shareholders of $21.7 million, or diluted earnings per share of $0.09 in the same period last year.</p><p>Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted net profit for the full year was US $995.7 million, and diluted earnings per share were US $3.34. Compared with adjusted net profit of US $101.3 million and diluted earnings per share of US $0.35 in the same period last year, this performance exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 25 analysts had previously expected Zoom's full-year adjusted earnings per share to reach $2.91 on average.</p><p>Zoom's net cash from operating activities for the full year was $1,471.2 million, compared to $151.9 million in the previous fiscal year. Zoom's full-year free cash flow was $1,391.2 million, compared to $113.8 million in the previous fiscal year.</p><p><b>Results outlook:</b></p><p>Zoom expects that the total net revenue in the first quarter of fiscal year 2022 is expected to reach US $900 million to US $905 million, and the operating profit not in accordance with US GAAP is expected to reach US $295 million to US $300 million. Diluted earnings per share are expected to reach US $0.95 to US $0.97, a performance outlook that far exceeds analysts' expectations. According to data provided by Yahoo Finance Channel, 23 analysts previously expected Zoom's first-quarter earnings per share to reach $0.72 on average, and 21 analysts expected Zoom's first-quarter revenue to reach $804.78 million on average.</p><p>Zoom also predicts that the total net revenue in fiscal year 2022 is expected to reach US $3.76 billion to US $3.78 billion, and the operating profit not in accordance with US GAAP is expected to reach US $1.125 billion to US $1.145 billion. Diluted earnings per share are expected to reach US $3.59 to US $3.65, a performance outlook that far exceeds analysts' expectations. According to data provided by Yahoo Finance Channel, 26 analysts previously expected Zoom's full-year earnings per share to reach $2.96 on average, and 26 analysts expected Zoom's full-year revenue to reach $2.6 billion on average.</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>Zoom's Q4 financial report for fiscal year 2021 exceeded expectations, rising nearly 9% after hours</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\">\nZoom's Q4 financial report for fiscal year 2021 exceeded expectations, rising nearly 9% after hours\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-02 06:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>March 2nd, video conferencing software developer<a href=\"https://laohu8.com/S/ZM\">Zoom</a>The company's fourth quarter and full-year financial reports for fiscal year 2021 were announced today. The report shows that Zoom's total revenue in the fourth quarter was US $882.5 million, an increase of 369% compared with US $188.3 million in the same period last year; Net profit was US $260.6 million, compared with US $15.34 million in the same period last year; The net profit attributable to the company's common shareholders was US $260.4 million, a significant increase of 16 times compared with US $15.31 million in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/4351113f148854ff1f87ac1864e6e3bf\" tg-width=\"1075\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5207be7eac1601586769907c74c8152f\" tg-width=\"1087\" tg-height=\"323\" referrerpolicy=\"no-referrer\"></p><p>Zoom's results exceeded Wall Street analysts' expectations for the fourth quarter and the entire fiscal 2021, and its outlook for the first quarter of fiscal 2022 and the full year of fiscal 2022 also exceeded expectations, driving its after-hours stock price up nearly 9%.</p><p><img src=\"https://static.tigerbbs.com/6c74ef4eba72e09868dcc9d0fc85d690\" tg-width=\"1302\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><b>Fourth Quarter Results Summary:</b></p><p>In the fiscal quarter ended January 31, 2021, Zoom's net profit was US $260.6 million, compared with US $15.34 million in the same period last year; The net profit attributable to the company's common shareholders was US $260.4 million, a substantial increase of 16 times compared with US $15.31 million in the same period last year; Diluted earnings per share attributable to the company's common shareholders was $0.87, compared to $0.05 in the same period last year.</p><p>Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted net profit in the fourth quarter was US $365.4 million, and its diluted earnings per share were US $1.22. Compared with the adjusted net profit of US $43.23 million in the same period last year and diluted earnings per share of 0.15 yuan, this performance far exceeded analysts' previous expectations. According to data provided by Yahoo Finance Channel, 24 analysts had previously expected Zoom's adjusted diluted earnings per share to reach $0.79 in the fourth quarter on average.</p><p>Zoom's total revenue in the fourth quarter was $882.5 million, an increase of 369% compared with $188.3 million in the same period last year, and also exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 22 analysts had previously expected Zoom's fourth-quarter revenue to reach $811.77 million on average.</p><p>Zoom's cost of revenue in the fourth quarter was $267.3 million, compared with $32.55 million in the same period last year. Zoom's fourth-quarter gross profit was $615.2 million, compared to $155.7 million in the same period last year.</p><p>Zoom's operating expenses in the fourth quarter were $359.1 million, compared to $145.2 million in the same period last year. Among them, research and development expenditures were US $52.38 million, compared with US $20.67 million in the same period last year; Sales and marketing expenses were $214.0 million, compared to $100.9 million in the same period last year; General and administrative expenses were $92.69 million, compared to $23.58 million in the same period last year.</p><p>Zoom's operating profit in the fourth quarter was $256.1 million, compared with $10.55 million in the same period last year. Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted operating profit in the fourth quarter was $360.9 million, compared with the same period last year Adjusted operating profit was $38.45 million. Zoom's fourth-quarter operating margin was 29.0%, and its non-GAAP adjusted operating margin was 40.9%.</p><p>Customer metrics:</p><p>Drivers of total revenue include new customer acquisition and expansion of existing customer base. At the end of the fourth quarter of fiscal 2021, Zoom had:</p><p>The total number of customers with more than 10 employees was approximately 467,100, an increase of approximately 470% compared with the same period last year;</p><p>1,644 customers contributed more than $100,000 in revenue in the past 12 months, an increase of approximately 156% compared with the same period last year;</p><p>Customers with more than 10 employees had a trailing 12-month net dollar expansion rate of more than 130% for the 11th consecutive quarter.</p><p>Cash related news:</p><p>Zoom's net cash from operating activities in the fourth quarter was $399.4 million, compared with $3,660 trillion in the same period last year. Zoom's free cash flow in the fourth quarter was $377.9 million, compared to $26.6 million in the same period last year.</p><p>As of April 30, 2021, Zoom held total cash, cash equivalents and marketable securities (excluding restricted cash) of $4,244.7 million.</p><p><b>Summary of FY2021 Results:</b></p><p>Throughout fiscal year 2021, Zoom's total revenue was $2,651.4 million, an increase of 326% compared to the previous fiscal year, exceeding analyst expectations. According to data provided by Yahoo Finance Channel, 25 analysts had previously expected Zoom's full-year revenue to reach $2.58 billion on average.</p><p>Zoom's operating profit for the full year was $659.8 million, compared to $12.7 million in the previous fiscal year. Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted operating profit for the full year was $983.3 million, compared to the previous fiscal year. It was $88.7 million. Zoom's operating margin for the full year was 24.9%, and its non-GAAP adjusted operating margin was 37.1%.</p><p>Zoom's full-year net profit attributable to common shareholders was $671.5 million, or diluted earnings per share was $2.25, compared with net profit attributable to common shareholders of $21.7 million, or diluted earnings per share of $0.09 in the same period last year.</p><p>Not in accordance with U.S. GAAP (excluding equity award expenses and related payroll taxes, expenses related to common stock charitable donations, and expenses related to mergers and acquisitions), Zoom's adjusted net profit for the full year was US $995.7 million, and diluted earnings per share were US $3.34. Compared with adjusted net profit of US $101.3 million and diluted earnings per share of US $0.35 in the same period last year, this performance exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 25 analysts had previously expected Zoom's full-year adjusted earnings per share to reach $2.91 on average.</p><p>Zoom's net cash from operating activities for the full year was $1,471.2 million, compared to $151.9 million in the previous fiscal year. Zoom's full-year free cash flow was $1,391.2 million, compared to $113.8 million in the previous fiscal year.</p><p><b>Results outlook:</b></p><p>Zoom expects that the total net revenue in the first quarter of fiscal year 2022 is expected to reach US $900 million to US $905 million, and the operating profit not in accordance with US GAAP is expected to reach US $295 million to US $300 million. Diluted earnings per share are expected to reach US $0.95 to US $0.97, a performance outlook that far exceeds analysts' expectations. According to data provided by Yahoo Finance Channel, 23 analysts previously expected Zoom's first-quarter earnings per share to reach $0.72 on average, and 21 analysts expected Zoom's first-quarter revenue to reach $804.78 million on average.</p><p>Zoom also predicts that the total net revenue in fiscal year 2022 is expected to reach US $3.76 billion to US $3.78 billion, and the operating profit not in accordance with US GAAP is expected to reach US $1.125 billion to US $1.145 billion. Diluted earnings per share are expected to reach US $3.59 to US $3.65, a performance outlook that far exceeds analysts' expectations. According to data provided by Yahoo Finance Channel, 26 analysts previously expected Zoom's full-year earnings per share to reach $2.96 on average, and 26 analysts expected Zoom's full-year revenue to reach $2.6 billion on average.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a0e598307097635a3494c9dd8e758e96","relate_stocks":{"ZM":"Zoom"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149166486","content_text":"3月2日讯，视频会议软件开发商Zoom今日公布了该公司的2021财年第四季度及全年财报。报告显示，Zoom第四季度总营收为8.825亿美元，与上年同期的1.883亿美元相比增长369%；净利润为2.606亿美元，相比之下上年同期的净利润为1534万美元；归属于公司普通股股东的净利润为2.604亿美元，与上年同期的1531万美元相比大幅增长16倍。Zoom第四季度和整个2021财年的业绩均超出华尔街分析师预期，且2022财年第一季度和2022财年全年的业绩展望也均超出预期，推动其盘后股价大幅上涨近9%。第四季度业绩概要：在截至2021年1月31日的这一财季，Zoom净利润为2.606亿美元，相比之下上年同期的净利润为1534万美元；归属于公司普通股股东的净利润为2.604亿美元，与上年同期的1531万美元相比大幅增长16倍；归属于公司普通股股东的每股摊薄收益为0.87美元，相比之下上年同期为0.05美元。不按照美国通用会计准则（不计入股权奖励支出和相关工资税、普通股慈善捐助相关费用以及并购相关支出），Zoom第四季度调整后净利润为3.654亿美元，每股摊薄收益为1.22美元，相比之下上年同期的调整后净利润为4323万美元，每股摊薄收益为0.15元，这一业绩远超分析师此前预期。据雅虎财经频道提供的数据显示，24名分析师此前平均预期Zoom第四季度调整后每股摊薄收益将达0.79美元。Zoom第四季度总营收为8.825亿美元，与上年同期的1.883亿美元相比增长369%，也超出分析师预期。据雅虎财经频道提供的数据显示，22名分析师此前平均预期Zoom第四季度营收将达8.1177亿美元。Zoom第四季度营收成本为2.673亿美元，相比之下上年同期为3255万美元。Zoom第四季度毛利润为6.152亿美元，相比之下上年同期为1.557亿美元。Zoom第四季度运营支出为3.591亿美元，相比之下上年同期为1.452亿美元。其中，研发支出为5238万美元，相比之下上年同期为2067万美元；销售和营销支出为2.140亿美元，相比之下上年同期为1.009亿美元；总务和行政支出为9269万美元，相比之下上年同期为2358万美元。Zoom第四季度运营利润为2.561亿美元，相比之下上年同期的运营利润为1055万美元。不按照美国通用会计准则（不计入股权奖励支出和相关工资税、普通股慈善捐助相关费用以及并购相关支出），Zoom第四季度调整后运营利润为3.609亿美元，相比之下上年同期的调整后运营利润为3845万美元。Zoom第四季度运营利润率为29.0%，不按照美国通用会计准则的调整后运营利润率为40.9%。客户指标：总营收的驱动因素包括新客户获取和现有客户群的扩张。截至2021财年第四季度末，Zoom拥有：员工人数超过10人的客户总数约为46.71万个，与上年同期相比增长约470%；1644个客户在过去12个月中贡献了超过10万美元的营收，与上年同期相比增长约156%；员工人数超过10人的客户过去12个月的净美元扩张率连续第11个季度超过130%。现金相关消息：Zoom第四季度来自于业务运营活动的净现金为3.994亿美元，相比之下上年同期为3660万亿美元。Zoom第四季度自由现金流为3.779亿美元，相比之下上年同期为2660万美元。截至2021年4月30日，Zoom持有的现金、现金等价物和有价证券总额（除去限制性现金）为42.447亿美元。2021财年业绩概要：在整个2021财年，Zoom的总营收为26.514亿美元，与上一财年相比增长326%，超出分析师预期。据雅虎财经频道提供的数据显示，25名分析师此前平均预期Zoom全年营收将达25.8亿美元。Zoom全年的运营利润为6.598亿美元，相比之下上一财年为1270万美元。不按照美国通用会计准则（不计入股权奖励支出和相关工资税、普通股慈善捐助相关费用以及并购相关支出），Zoom全年的调整后运营利润为9.833亿美元，相比之下上一财年为8870万美元。Zoom全年的运营利润率为24.9%，不按照美国通用会计准则的调整后运营利润率为37.1%。Zoom全年归属于普通股股东的净利润为6.715亿美元，每股摊薄收益为2.25美元，相比之下去年同期归属于普通股股东的净利润为2170万美元，每股摊薄收益为0.09美元。不按照美国通用会计准则（不计入股权奖励支出和相关工资税、普通股慈善捐助相关费用以及并购相关支出），Zoom全年的调整后净利润为9.957亿美元，每股摊薄收益为3.34美元，相比之下去年同期的调整后净利润为1.013亿美元，每股摊薄收益为0.35美元，这一业绩超出分析师预期。据雅虎财经频道提供的数据显示，25名分析师此前平均预期Zoom全年调整后每股收益将达2.91美元。Zoom全年来自于业务运营活动的净现金为14.712亿美元，相比之下上一财年为1.519亿美元。Zoom全年的自由现金流为13.912亿美元，相比之下上一财年为1.138亿美元。业绩展望：Zoom预计，2022财年第一季度总净营收预计将达9.000亿美元到9.050亿美元，不按照美国通用会计准则的运营利润预计将达2.950亿美元到3.00亿美元，不按照美国通用会计准则的每股摊薄收益预计将达0.95美元到0.97美元，这一业绩展望远超分析师预期。据雅虎财经频道提供的数据显示，23名分析师此前平均预期Zoom第一季度每股收益将达0.72美元，21名分析师平均预期Zoom第一季度营收将达8.0478亿美元。Zoom还预计，2022财年总净营收预计将达37.60亿美元到37.80亿美元，不按照美国通用会计准则的运营利润预计将达11.25亿美元到11.45亿美元，不按照美国通用会计准则的每股摊薄收益预计将达3.59美元到3.65美元，这一业绩展望也远超分析师预期。据雅虎财经频道提供的数据显示，26名分析师此前平均预期Zoom全年每股收益将达2.96美元，26名分析师平均预期Zoom全年营收将达26亿美元。","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":412047742890312,"gmtCreate":1741618281076,"gmtModify":1741618287179,"author":{"id":"3561544476596136","authorId":"3561544476596136","name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3561544476596136","idStr":"3561544476596136"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SMCI\">$超微电脑(SMCI)$ </a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/SMCI\">$超微电脑(SMCI)$ </a>&nbsp;","text":"$超微电脑(SMCI)$","images":[{"img":"https://community-static.tradeup.com/news/84376b9b0392ce98946928a316f9bcf4","width":"898","height":"1530"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/412047742890312","isVote":1,"tweetType":1,"viewCount":3777,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}