US stocks close:
U.S. stocks closed lower for the second consecutive session on Tuesday. The health of the global economy is worrying investors.
Investors appeared to accept the Fed's decision to skip a June rate hike last week. Federal Reserve Chairman Jerome Powell said at a news conference on Wednesday that the central bank has yet to make a decision on policy ahead of its July monetary policy meeting. But monetary policymakers expect two more hikes of 25 basis points each later this year. The decision to skip a rate hike in June broke the Fed's record of 10 consecutive hikes.
The Dow fell 245.25 points, or 0.72%, to 34053.87; the Nasdaq fell 22.28 points, or 0.16%, to 13667.29; the S&P 500 fell 20.88 points, or 0.47%, to 4388.71.
On the economic data front on Tuesday, total U.S. housing starts unexpectedly surged to a more than one-year high in May, as building permits rose, suggesting residential construction was improving. Government data released Tuesday showed housing starts rose 21.7% to an annual rate of 1.63 million units. Single-family housing starts rose 18.5%, with starts also rising on apartment buildings and other multifamily housing projects. Building permits climbed 5.28% to a rate of 1.49 million units. Permits for single-family homes increased.
In other markets, gold futures for August delivery on the New York Mercantile Exchange fell 1.2% to settle at $1,947.70 an ounce. West Texas Intermediate (WTI) crude futures for July delivery settled lower at $70.50 a barrel on the New York Mercantile Exchange. The futures settled at $71.78 a barrel on Friday. Brent crude futures fell 19 cents, or 0.25%, to settle at $75.90 a barrel.
美股收盘：
美股周二录得连续第二个交易日收跌。全球经济的健康状况令投资者感到担忧。
上周投资者似乎接受了美联储跳过6月加息的决定。美联储主席鲍威尔周三在新闻发布会上表示，在7月货币政策会议召开前，美联储尚未就政策做出决定。但货币政策制定者预计今年晚些时候还将再加息两次、每次25个基点。6月份跳过加息的决定，打破了美联储连续10次加息的纪录。
道指跌245.25点，跌幅为0.72%，报34053.87点；纳指跌22.28点，跌幅为0.16%，报13667.29点；标普500指数跌20.88点，跌幅为0.47%，报4388.71点。
周二经济数据面，美国5月新屋开工总数意外飙升至一年多高点，营建许可增加，表明住宅建设正在改善。政府周二公布的数据显示，新屋开工年率增长21.7%，至163万户。单户住宅开工量增长18.5%，公寓楼和其他多户住宅项目的开工量也有所增加。营建许可攀升5.28%，至149万户。单户住宅许可增加。
其他市场面，纽约商品交易所8月交割的黄金期货价格下跌1.2%，收于每盎司1947.70美元。纽约商品交易所7月交割的西德州中质原油（WTI）期货价格走低，收于每桶70.50美元。上周五该期货收于每桶71.78美元。布伦特原油期货价格下跌19美分，跌幅为0.25%，收于每桶75.90美元。
U.S. stocks closed lower for the second consecutive session on Tuesday. The health of the global economy is worrying investors.
Investors appeared to accept the Fed's decision to skip a June rate hike last week. Federal Reserve Chairman Jerome Powell said at a news conference on Wednesday that the central bank has yet to make a decision on policy ahead of its July monetary policy meeting. But monetary policymakers expect two more hikes of 25 basis points each later this year. The decision to skip a rate hike in June broke the Fed's record of 10 consecutive hikes.
The Dow fell 245.25 points, or 0.72%, to 34053.87; the Nasdaq fell 22.28 points, or 0.16%, to 13667.29; the S&P 500 fell 20.88 points, or 0.47%, to 4388.71.
On the economic data front on Tuesday, total U.S. housing starts unexpectedly surged to a more than one-year high in May, as building permits rose, suggesting residential construction was improving. Government data released Tuesday showed housing starts rose 21.7% to an annual rate of 1.63 million units. Single-family housing starts rose 18.5%, with starts also rising on apartment buildings and other multifamily housing projects. Building permits climbed 5.28% to a rate of 1.49 million units. Permits for single-family homes increased.
In other markets, gold futures for August delivery on the New York Mercantile Exchange fell 1.2% to settle at $1,947.70 an ounce. West Texas Intermediate (WTI) crude futures for July delivery settled lower at $70.50 a barrel on the New York Mercantile Exchange. The futures settled at $71.78 a barrel on Friday. Brent crude futures fell 19 cents, or 0.25%, to settle at $75.90 a barrel.
美股收盘：
美股周二录得连续第二个交易日收跌。全球经济的健康状况令投资者感到担忧。
上周投资者似乎接受了美联储跳过6月加息的决定。美联储主席鲍威尔周三在新闻发布会上表示，在7月货币政策会议召开前，美联储尚未就政策做出决定。但货币政策制定者预计今年晚些时候还将再加息两次、每次25个基点。6月份跳过加息的决定，打破了美联储连续10次加息的纪录。
道指跌245.25点，跌幅为0.72%，报34053.87点；纳指跌22.28点，跌幅为0.16%，报13667.29点；标普500指数跌20.88点，跌幅为0.47%，报4388.71点。
周二经济数据面，美国5月新屋开工总数意外飙升至一年多高点，营建许可增加，表明住宅建设正在改善。政府周二公布的数据显示，新屋开工年率增长21.7%，至163万户。单户住宅开工量增长18.5%，公寓楼和其他多户住宅项目的开工量也有所增加。营建许可攀升5.28%，至149万户。单户住宅许可增加。
其他市场面，纽约商品交易所8月交割的黄金期货价格下跌1.2%，收于每盎司1947.70美元。纽约商品交易所7月交割的西德州中质原油（WTI）期货价格走低，收于每桶70.50美元。上周五该期货收于每桶71.78美元。布伦特原油期货价格下跌19美分，跌幅为0.25%，收于每桶75.90美元。
👀 Amazon's high in recent months, where is the stock price going?
👀 亚马逊近月创新高，股价走向何方？
👀 亚马逊近月创新高，股价走向何方？
Amazon (AMZN) broke out again and rose to the highest level in recent months. Is it still capable of continuing to rise?
Amazon (AMZN) seems to be facing a lot of problems in the near future, and they are not easy to solve. In particular, high inflation makes consumers need to tighten their wallets and reduce spending, which reduces the demand for online shopping. On the other hand, because enterprises are affected by the economic downturn or are worried about economic recession, investment in technology such as cloud business has decreased, which has slowed down the growth of Amazon's cloud business AWS. Both of the two main businesses are facing headwinds, so it is definitely difficult for the company to deliver a good report card.
亚马逊（AMZN）再次爆发并升至近几个月来的最高水平。 是否还有继续上涨的能力？
亚马逊（AMZN）似乎在不久的将来面临很多问题，而且解决起来并不容易。 尤其是高通胀使得消费者需要勒紧钱包、减少支出，从而减少了网购需求。 另一方面，由于企业受到经济低迷影响或担心经济衰退，对云业务等技术的投资减少，这使得亚马逊云业务AWS的增长放缓。 两大主营业务均面临逆风，公司想交出一份好的成绩单肯定是困难的。
Amazon (AMZN) seems to be facing a lot of problems in the near future, and they are not easy to solve. In particular, high inflation makes consumers need to tighten their wallets and reduce spending, which reduces the demand for online shopping. On the other hand, because enterprises are affected by the economic downturn or are worried about economic recession, investment in technology such as cloud business has decreased, which has slowed down the growth of Amazon's cloud business AWS. Both of the two main businesses are facing headwinds, so it is definitely difficult for the company to deliver a good report card.
亚马逊（AMZN）再次爆发并升至近几个月来的最高水平。 是否还有继续上涨的能力？
亚马逊（AMZN）似乎在不久的将来面临很多问题，而且解决起来并不容易。 尤其是高通胀使得消费者需要勒紧钱包、减少支出，从而减少了网购需求。 另一方面，由于企业受到经济低迷影响或担心经济衰退，对云业务等技术的投资减少，这使得亚马逊云业务AWS的增长放缓。 两大主营业务均面临逆风，公司想交出一份好的成绩单肯定是困难的。
1️⃣ Amazon is competitive with AI
Amazon's latest news is that its cloud computing department may use AMD's new AI chip, making investors realize that the company is a technology company. In fact, according to Statista data, AWS's global market share in cloud infrastructure services has exceeded 30% for a long time. Although the global economy is slowing down, in the first quarter of 2023, the overall cloud business market will also grow by 4% quarter-on-quarter, reflecting that the market expansion momentum still exists.
In addition, Amazon has also invested in the field of AI. Even though AI-generated content (AI-Generated Content) has recently robbed the focus, Microsoft (MSFT) founder Bill Gates (Bill Gates) even pointed out that part of Amazon's field will be AI-generated content. Assistant, but Amazon has its strengths in helping companies use AI and machine learning (ML) to solve problems and improve efficiency. Seeing the demand for AI-generated content-related technologies, Amazon has invested in research and development to summarize reviews and create text content, and can help customers find products that are more suitable for them. The newly launched Amazon Bedrock tool allows companies to build and scale generative AI applications, and CodeWhisperer can suggest codes to program developers to improve productivity. Since Amazon has a strong infrastructure and huge customer and consumer data, it will definitely not be absent in the AI battle. In fact, AI-generated content is only one part of the application of AI.
1️⃣ 亚马逊与人工智能竞争
亚马逊的最新消息是，其云计算部门可能会使用AMD的新型AI芯片，让投资者认识到该公司是一家科技公司。 事实上，根据Statista数据，AWS在云基础设施服务的全球市场份额长期超过30%。 尽管全球经济放缓，但2023年第一季度，整体云业务市场也将环比增长4%，反映出市场扩张动力依然存在。
此外，亚马逊还投资了AI领域。 尽管人工智能生成内容（AI-Generate Content）最近抢了焦点，微软（MSFT）创始人比尔·盖茨（Bill Gates）甚至指出，亚马逊的部分领域将是人工智能生成内容。 Assistant，但亚马逊的优势在于帮助企业利用人工智能和机器学习（ML）解决问题并提高效率。 看到人工智能生成内容相关技术的需求，亚马逊投入研发来总结评论和创建文本内容，并可以帮助顾客找到更适合自己的产品。 新推出的 Amazon Bedrock 工具允许公司构建和扩展生成式 AI 应用程序，CodeWhisperer 可以向程序开发人员建议代码以提高生产力。 由于亚马逊拥有强大的基础设施和庞大的客户和消费者数据，它在AI之战中肯定不会缺席。 事实上，人工智能生成的内容只是人工智能应用的一部分。
Amazon's latest news is that its cloud computing department may use AMD's new AI chip, making investors realize that the company is a technology company. In fact, according to Statista data, AWS's global market share in cloud infrastructure services has exceeded 30% for a long time. Although the global economy is slowing down, in the first quarter of 2023, the overall cloud business market will also grow by 4% quarter-on-quarter, reflecting that the market expansion momentum still exists.
In addition, Amazon has also invested in the field of AI. Even though AI-generated content (AI-Generated Content) has recently robbed the focus, Microsoft (MSFT) founder Bill Gates (Bill Gates) even pointed out that part of Amazon's field will be AI-generated content. Assistant, but Amazon has its strengths in helping companies use AI and machine learning (ML) to solve problems and improve efficiency. Seeing the demand for AI-generated content-related technologies, Amazon has invested in research and development to summarize reviews and create text content, and can help customers find products that are more suitable for them. The newly launched Amazon Bedrock tool allows companies to build and scale generative AI applications, and CodeWhisperer can suggest codes to program developers to improve productivity. Since Amazon has a strong infrastructure and huge customer and consumer data, it will definitely not be absent in the AI battle. In fact, AI-generated content is only one part of the application of AI.
1️⃣ 亚马逊与人工智能竞争
亚马逊的最新消息是，其云计算部门可能会使用AMD的新型AI芯片，让投资者认识到该公司是一家科技公司。 事实上，根据Statista数据，AWS在云基础设施服务的全球市场份额长期超过30%。 尽管全球经济放缓，但2023年第一季度，整体云业务市场也将环比增长4%，反映出市场扩张动力依然存在。
此外，亚马逊还投资了AI领域。 尽管人工智能生成内容（AI-Generate Content）最近抢了焦点，微软（MSFT）创始人比尔·盖茨（Bill Gates）甚至指出，亚马逊的部分领域将是人工智能生成内容。 Assistant，但亚马逊的优势在于帮助企业利用人工智能和机器学习（ML）解决问题并提高效率。 看到人工智能生成内容相关技术的需求，亚马逊投入研发来总结评论和创建文本内容，并可以帮助顾客找到更适合自己的产品。 新推出的 Amazon Bedrock 工具允许公司构建和扩展生成式 AI 应用程序，CodeWhisperer 可以向程序开发人员建议代码以提高生产力。 由于亚马逊拥有强大的基础设施和庞大的客户和消费者数据，它在AI之战中肯定不会缺席。 事实上，人工智能生成的内容只是人工智能应用的一部分。
2️⃣ AWS keeps growing year-over-year
AWS is Amazon's growth engine. In the first quarter of 2023, net sales rose 16% year-on-year to $21.35 billion. Although operating expenses rose 36%, operating profit fell by $5.12 billion, down 21.4% from the same period last year. It's all about making money. From the first quarter to the fourth quarter of 2022, AWS's net sales will grow by 37%, 33%, 22%, and 20% year-on-year, respectively. Obviously, the year-on-year growth rate has seen a downward trend. Looking at the amount alone, it was US$21.38 billion in the fourth quarter of last year, which means it was flat quarter-on-quarter. The growth momentum of AWS is worthy of attention, but there is no need to worry too much, because its competitiveness is very strong, the business is also highly sticky, and the threshold for customer transfer is relatively high.
2️⃣ AWS 逐年增长
AWS 是亚马逊的增长引擎。 2023年第一季度净销售额同比增长16%至213.5亿美元。 尽管运营费用增长了36%，但运营利润却下降了51.2亿美元，比去年同期下降了21.4%。 一切都是为了赚钱。 2022年第一季度至第四季度，AWS净销售额同比将分别增长37%、33%、22%和20%。 显然，同比增速出现了下降趋势。 仅看金额，去年第四季度为213.8亿美元，环比持平。 AWS的增长势头值得关注，但也不必过于担心，因为其竞争力非常强，业务粘性也很高，客户转移的门槛也比较高。
AWS is Amazon's growth engine. In the first quarter of 2023, net sales rose 16% year-on-year to $21.35 billion. Although operating expenses rose 36%, operating profit fell by $5.12 billion, down 21.4% from the same period last year. It's all about making money. From the first quarter to the fourth quarter of 2022, AWS's net sales will grow by 37%, 33%, 22%, and 20% year-on-year, respectively. Obviously, the year-on-year growth rate has seen a downward trend. Looking at the amount alone, it was US$21.38 billion in the fourth quarter of last year, which means it was flat quarter-on-quarter. The growth momentum of AWS is worthy of attention, but there is no need to worry too much, because its competitiveness is very strong, the business is also highly sticky, and the threshold for customer transfer is relatively high.
2️⃣ AWS 逐年增长
AWS 是亚马逊的增长引擎。 2023年第一季度净销售额同比增长16%至213.5亿美元。 尽管运营费用增长了36%，但运营利润却下降了51.2亿美元，比去年同期下降了21.4%。 一切都是为了赚钱。 2022年第一季度至第四季度，AWS净销售额同比将分别增长37%、33%、22%和20%。 显然，同比增速出现了下降趋势。 仅看金额，去年第四季度为213.8亿美元，环比持平。 AWS的增长势头值得关注，但也不必过于担心，因为其竞争力非常强，业务粘性也很高，客户转移的门槛也比较高。
3️⃣ E-commerce business starts to improve
As for the still very important e-commerce business, it has deteriorated significantly since the third quarter of 2021, but it has gradually improved in recent quarters, which is a good sign. North America is the base of Amazon. In the first quarter of this year, it finally recorded an operating profit again, from a loss of US$1.57 billion last year to a profit of about US$900 million. The international business continues to be in a state of operating loss, with a loss of US$1.25 billion, but the loss situation has improved year-on-year and quarter-to-quarter. In the fourth quarter of last year, the international business had an operating loss of $2.23 billion.
3️⃣ 电商业务开始好转
至于仍然非常重要的电商业务，自2021年第三季度以来已经明显恶化，但最近几个季度逐渐改善，这是一个好兆头。 北美是亚马逊的基地。 今年一季度，终于再次录得营业利润，从去年的亏损15.7亿美元，变为盈利约9亿美元。 国际业务继续处于经营亏损状态，亏损12.5亿美元，但亏损状况同比和环比有所改善。 去年第四季度，国际业务运营亏损22.3亿美元。
As for the still very important e-commerce business, it has deteriorated significantly since the third quarter of 2021, but it has gradually improved in recent quarters, which is a good sign. North America is the base of Amazon. In the first quarter of this year, it finally recorded an operating profit again, from a loss of US$1.57 billion last year to a profit of about US$900 million. The international business continues to be in a state of operating loss, with a loss of US$1.25 billion, but the loss situation has improved year-on-year and quarter-to-quarter. In the fourth quarter of last year, the international business had an operating loss of $2.23 billion.
3️⃣ 电商业务开始好转
至于仍然非常重要的电商业务，自2021年第三季度以来已经明显恶化，但最近几个季度逐渐改善，这是一个好兆头。 北美是亚马逊的基地。 今年一季度，终于再次录得营业利润，从去年的亏损15.7亿美元，变为盈利约9亿美元。 国际业务继续处于经营亏损状态，亏损12.5亿美元，但亏损状况同比和环比有所改善。 去年第四季度，国际业务运营亏损22.3亿美元。
4️⃣ Logistics and transportation upgrade and reorganization
Regarding e-commerce operations, Amazon has invested heavily in transformation and upgrading in the past few quarters, doubling its scale in the past two years, and has transformed its North American network from a national distribution model to a regional model. In addition to the substantial increase in the number of warehouses, internal distribution Significant changes have been made to logistics software, operating procedures, and actual operations. At present, the 8 interconnected regions can roughly meet their own needs, and at the same time, they can be delivered nationwide when needed. The upgrade of the distribution network can save costs and shorten the delivery time, allowing Amazon to increase the number of shipments delivered by the same day or the next day.
Amazon's capital investment of $59 billion in 2022 due to upgrades is expected to decrease this year as related projects are completed. After the transformation of Amazon logistics, it has entered the stage of improving efficiency and optimizing, and with the layoff of 27,000 employees, it is believed that cost control will do better this year.
In addition, the company's cash flow has improved, with operating cash flow of US$54.3 billion in the past 12 months, an increase of 38% over the same period last year. Although the free cash flow in the past 12 months is still negative US$3.3 billion, it is better than last year's outflow of US$18.6 billion.
4️⃣物流运输升级重组
在电商运营方面，亚马逊在过去几个季度大力投入转型升级，近两年规模扩大了一倍，并将其北美网络从全国配送模式转变为区域模式。 除了仓库数量大幅增加外，内部配送物流软件、操作流程、实际操作也发生了重大变化。 目前，8个互联区域可以大致满足自身需求，同时，需要时还可以向全国范围内配送。 配送网络的升级可以节省成本并缩短配送时间，使亚马逊能够增加当天或次日送达的货件数量。
亚马逊2022年因升级而进行的资本投资为590亿美元，预计今年随着相关项目的完成而减少。 亚马逊物流转型后，已进入提升效率、优化阶段，加上裁员2.7万人，相信今年成本控制会做得更好。
此外，公司现金流有所改善，过去12个月经营现金流为543亿美元，较去年同期增长38%。 尽管过去12个月的自由现金流仍为负33亿美元，但好于去年186亿美元的流出。
Regarding e-commerce operations, Amazon has invested heavily in transformation and upgrading in the past few quarters, doubling its scale in the past two years, and has transformed its North American network from a national distribution model to a regional model. In addition to the substantial increase in the number of warehouses, internal distribution Significant changes have been made to logistics software, operating procedures, and actual operations. At present, the 8 interconnected regions can roughly meet their own needs, and at the same time, they can be delivered nationwide when needed. The upgrade of the distribution network can save costs and shorten the delivery time, allowing Amazon to increase the number of shipments delivered by the same day or the next day.
Amazon's capital investment of $59 billion in 2022 due to upgrades is expected to decrease this year as related projects are completed. After the transformation of Amazon logistics, it has entered the stage of improving efficiency and optimizing, and with the layoff of 27,000 employees, it is believed that cost control will do better this year.
In addition, the company's cash flow has improved, with operating cash flow of US$54.3 billion in the past 12 months, an increase of 38% over the same period last year. Although the free cash flow in the past 12 months is still negative US$3.3 billion, it is better than last year's outflow of US$18.6 billion.
4️⃣物流运输升级重组
在电商运营方面，亚马逊在过去几个季度大力投入转型升级，近两年规模扩大了一倍，并将其北美网络从全国配送模式转变为区域模式。 除了仓库数量大幅增加外，内部配送物流软件、操作流程、实际操作也发生了重大变化。 目前，8个互联区域可以大致满足自身需求，同时，需要时还可以向全国范围内配送。 配送网络的升级可以节省成本并缩短配送时间，使亚马逊能够增加当天或次日送达的货件数量。
亚马逊2022年因升级而进行的资本投资为590亿美元，预计今年随着相关项目的完成而减少。 亚马逊物流转型后，已进入提升效率、优化阶段，加上裁员2.7万人，相信今年成本控制会做得更好。
此外，公司现金流有所改善，过去12个月经营现金流为543亿美元，较去年同期增长38%。 尽管过去12个月的自由现金流仍为负33亿美元，但好于去年186亿美元的流出。
5️⃣ Continue to record profit in the quarter
In the last quarter, Amazon’s net profit was US$3.17 billion, and it has regained its profits for three consecutive quarters. It lost US$3.8 billion in the same period last year. In addition, it is worth noting that a valuation loss of about US$500 million due to investment in electric vehicle company Rivian Automotive (RIVN) is included in non-operating expenses, which will not have any impact on actual operations, but will affect the company's financial figures. Rivian had a short period of glory when it went public, but its stock price has been diving since then, which has also brought negative impacts on Amazon. However, unless Rivian’s business deteriorates sharply, the stock price will stabilize at the current level. I believe that the adverse impact has gradually faded, even if The impact of falling is also relatively reduced.
5️⃣ 本季度继续录得盈利
上季度，亚马逊净利润为31.7亿美元，已连续三个季度恢复盈利。 去年同期亏损38亿美元。 此外，值得注意的是，因投资电动汽车公司Rivian Automotive（RIVN）而产生的约5亿美元估值损失计入营业外支出，不会对实际运营产生任何影响，但会影响 公司的财务数据。 Rivian上市时曾有过短暂的辉煌，但此后股价不断跳水，这也给亚马逊带来了负面影响。 不过，除非Rivian的业务急剧恶化，否则股价将稳定在当前水平。 我相信不利的影响已经逐渐消退，即使跌倒的影响也相对减轻。
In the last quarter, Amazon’s net profit was US$3.17 billion, and it has regained its profits for three consecutive quarters. It lost US$3.8 billion in the same period last year. In addition, it is worth noting that a valuation loss of about US$500 million due to investment in electric vehicle company Rivian Automotive (RIVN) is included in non-operating expenses, which will not have any impact on actual operations, but will affect the company's financial figures. Rivian had a short period of glory when it went public, but its stock price has been diving since then, which has also brought negative impacts on Amazon. However, unless Rivian’s business deteriorates sharply, the stock price will stabilize at the current level. I believe that the adverse impact has gradually faded, even if The impact of falling is also relatively reduced.
5️⃣ 本季度继续录得盈利
上季度，亚马逊净利润为31.7亿美元，已连续三个季度恢复盈利。 去年同期亏损38亿美元。 此外，值得注意的是，因投资电动汽车公司Rivian Automotive（RIVN）而产生的约5亿美元估值损失计入营业外支出，不会对实际运营产生任何影响，但会影响 公司的财务数据。 Rivian上市时曾有过短暂的辉煌，但此后股价不断跳水，这也给亚马逊带来了负面影响。 不过，除非Rivian的业务急剧恶化，否则股价将稳定在当前水平。 我相信不利的影响已经逐渐消退，即使跌倒的影响也相对减轻。
🙋♂️ Amazon's biggest enemy is inflation and economic slowdown. Therefore, as inflation in the United States is under control, North American business should continue to improve. Net sales in the last quarter rose by 11% year-on-year. The international business has improved, and the net sales increased by 1% year-on-year, and increased by 9% if the exchange rate factor is excluded. If the Federal Reserve does not raise interest rates, companies are willing to accelerate technology investment, because it is always about long-term competitiveness. Amazon's price-to-sales ratio (PS) is approximately 3.2 times from 2017 to 2019, and will be 4.3 times and 3.7 times in 2020 and 2021, respectively. 1.7 times in 2022. At present, PS is about 2.5 times. If it rises to 3 times, the stock price should reach the level of 151 US dollars. The more important support for the stock price down is $114, which is the low in May and the high in February. Amazon has a market capitalization of about US$1.28 trillion. It is difficult to become the number one, but the worst is expected to pass. If it adjusts, it can be an opportunity to absorb.
🙋♂️ 亚马逊最大的敌人是通货膨胀和经济放缓。 因此，随着美国通胀得到控制，北美业务应该会持续改善。 上季度净销售额同比增长11%。 国际业务有所改善，净销售额同比增长1%，若剔除汇率因素则增长9%。 如果美联储不加息，企业愿意加速技术投资，因为这始终关乎长期竞争力。 2017年至2019年，亚马逊的市销率（PS）约为3.2倍，2020年和2021年将分别为4.3倍和3.7倍。 2022年为1.7倍。目前PS约为2.5倍。 如果上涨到3倍，股价应该会达到151美元的水平。 股价下跌的更重要支撑是114美元，这是5月份的低点和2月份的高点。 亚马逊市值约为1.28万亿美元。 成为第一很难，但最坏的情况预计会过去。 如果调整的话，这可能是一个吸收的机会。
🙋♂️ 亚马逊最大的敌人是通货膨胀和经济放缓。 因此，随着美国通胀得到控制，北美业务应该会持续改善。 上季度净销售额同比增长11%。 国际业务有所改善，净销售额同比增长1%，若剔除汇率因素则增长9%。 如果美联储不加息，企业愿意加速技术投资，因为这始终关乎长期竞争力。 2017年至2019年，亚马逊的市销率（PS）约为3.2倍，2020年和2021年将分别为4.3倍和3.7倍。 2022年为1.7倍。目前PS约为2.5倍。 如果上涨到3倍，股价应该会达到151美元的水平。 股价下跌的更重要支撑是114美元，这是5月份的低点和2月份的高点。 亚马逊市值约为1.28万亿美元。 成为第一很难，但最坏的情况预计会过去。 如果调整的话，这可能是一个吸收的机会。
U.S. stocks closed: Inflation cooled, U.S. stocks closed higher, the Nasdaq rose 31.7% in the first half of the year, the largest increase in the same period in 40 years
U.S. stocks closed higher on Friday. The Nasdaq rose 31.7% in the first half of the year, the largest increase in the same period in 40 years. The PCE price index favored by the Federal Reserve showed that inflationary pressures in the United States eased slightly in May.
The Dow rose 285.18 points, or 0.84%, to 34407.60; the Nasdaq rose 196.59 points, or 1.45%, to 13787.92; the S&P 500 rose 53.94 points, or 1.23%, to 4450.38.
Friday is the last trading day of the week, June, second quarter and first half. Here's how the three major stock indexes have performed over the period:
① This week: The Dow rose 2.01%, the S&P 500 rose 2.35%, and the Nasdaq rose 2.19%.
②In June: The S&P 500 rose 4.67%, its best monthly performance since January. The Nasdaq (13787.9227, 196.59, 1.45%) rose 6.59%, and the S&P (4450.3799, 53.94, 1.23%) both rose for the fourth straight month. The Dow rose 4.55%, its best month since November.
③In the second quarter: The S&P 500 rose 8.3%, the third consecutive quarter of gains. The Nasdaq rose 12.81%, its second straight quarterly gain. The Dow rose 3.41%, its third straight quarterly gain.
In other markets, on Friday, gold futures for August delivery on the New York Mercantile Exchange rose $11.50, or 0.6%, to close at $1,929.40 an ounce. Gold futures fell 20 cents on the week, down 2.7 percent in June and 2.9 percent in the second quarter, as measured by the most-active contract.
West Texas Intermediate crude for August delivery rose 78 cents, or 1.1%, to settle at $70.64 a barrel on the New York Mercantile Exchange. WTI crude rose nearly 3.8 percent in June, but fell nearly 6.7 percent in the second quarter, as measured by the most active contract.
美股收盘：通胀降温美股收高 纳指上半年涨31.7%创40年来最大同期涨幅
美股周五收高。纳指在上半年上涨31.7%，创40年来最大同期涨幅，美联储青睐的PCE价格指数显示美国5月通胀压力略有缓解。
道指涨285.18点，涨幅为0.84%，报34407.60点；纳指涨196.59点，涨幅为1.45%，报13787.92点；标普500指数涨53.94点，涨幅为1.23%，报4450.38点。
周五是本周、6月份、第二季度和上半年的最后一个交易日。以下是三大股指在这期间的表现：
①本周：道指上涨2.01%，标普500指数上涨2.35%，纳指上涨2.19%。
②在6月份：标准普尔500指数上涨4.67%，创下1月份以来的最佳月度表现。纳斯达克(13787.9227, 196.59, 1.45%)指数上涨了6.59%，与标普指数(4450.3799, 53.94, 1.23%)均连续第四个月上涨。道琼斯(34407.6016, 285.18, 0.84%)指数上涨4.55%，创下自11月以来的最佳月度表现。
③在第二季度：标准普尔500指数上涨8.3%，为连续第三个季度上涨。纳斯达克指数上涨12.81%，为连续第二个季度上涨。道琼斯指数上涨了3.41%，为连续第三个季度上涨。
其他市场面，周五，纽约商品交易所8月交割的黄金期货价格上涨11.50美元，涨幅为0.6%，收于每盎司1929.40美元。按照最活跃合约计算，黄金期货价格本周下跌20美分，6月份下跌2.7%，二季度下跌2.9%。
纽约商品交易所8月交割的西德州中质原油（WTI）期货价格上涨78美分，涨幅为1.1%，收于每桶70.64美元。按照最活跃合约计算，WTI原油在6月份上涨近3.8%，但在二季度下跌了将近6.7%。
U.S. stocks closed higher on Friday. The Nasdaq rose 31.7% in the first half of the year, the largest increase in the same period in 40 years. The PCE price index favored by the Federal Reserve showed that inflationary pressures in the United States eased slightly in May.
The Dow rose 285.18 points, or 0.84%, to 34407.60; the Nasdaq rose 196.59 points, or 1.45%, to 13787.92; the S&P 500 rose 53.94 points, or 1.23%, to 4450.38.
Friday is the last trading day of the week, June, second quarter and first half. Here's how the three major stock indexes have performed over the period:
① This week: The Dow rose 2.01%, the S&P 500 rose 2.35%, and the Nasdaq rose 2.19%.
②In June: The S&P 500 rose 4.67%, its best monthly performance since January. The Nasdaq (13787.9227, 196.59, 1.45%) rose 6.59%, and the S&P (4450.3799, 53.94, 1.23%) both rose for the fourth straight month. The Dow rose 4.55%, its best month since November.
③In the second quarter: The S&P 500 rose 8.3%, the third consecutive quarter of gains. The Nasdaq rose 12.81%, its second straight quarterly gain. The Dow rose 3.41%, its third straight quarterly gain.
In other markets, on Friday, gold futures for August delivery on the New York Mercantile Exchange rose $11.50, or 0.6%, to close at $1,929.40 an ounce. Gold futures fell 20 cents on the week, down 2.7 percent in June and 2.9 percent in the second quarter, as measured by the most-active contract.
West Texas Intermediate crude for August delivery rose 78 cents, or 1.1%, to settle at $70.64 a barrel on the New York Mercantile Exchange. WTI crude rose nearly 3.8 percent in June, but fell nearly 6.7 percent in the second quarter, as measured by the most active contract.
美股收盘：通胀降温美股收高 纳指上半年涨31.7%创40年来最大同期涨幅
美股周五收高。纳指在上半年上涨31.7%，创40年来最大同期涨幅，美联储青睐的PCE价格指数显示美国5月通胀压力略有缓解。
道指涨285.18点，涨幅为0.84%，报34407.60点；纳指涨196.59点，涨幅为1.45%，报13787.92点；标普500指数涨53.94点，涨幅为1.23%，报4450.38点。
周五是本周、6月份、第二季度和上半年的最后一个交易日。以下是三大股指在这期间的表现：
①本周：道指上涨2.01%，标普500指数上涨2.35%，纳指上涨2.19%。
②在6月份：标准普尔500指数上涨4.67%，创下1月份以来的最佳月度表现。纳斯达克(13787.9227, 196.59, 1.45%)指数上涨了6.59%，与标普指数(4450.3799, 53.94, 1.23%)均连续第四个月上涨。道琼斯(34407.6016, 285.18, 0.84%)指数上涨4.55%，创下自11月以来的最佳月度表现。
③在第二季度：标准普尔500指数上涨8.3%，为连续第三个季度上涨。纳斯达克指数上涨12.81%，为连续第二个季度上涨。道琼斯指数上涨了3.41%，为连续第三个季度上涨。
其他市场面，周五，纽约商品交易所8月交割的黄金期货价格上涨11.50美元，涨幅为0.6%，收于每盎司1929.40美元。按照最活跃合约计算，黄金期货价格本周下跌20美分，6月份下跌2.7%，二季度下跌2.9%。
纽约商品交易所8月交割的西德州中质原油（WTI）期货价格上涨78美分，涨幅为1.1%，收于每桶70.64美元。按照最活跃合约计算，WTI原油在6月份上涨近3.8%，但在二季度下跌了将近6.7%。
U.S. Stocks Close: U.S. Stocks Mixed All three major stock indexes posted gains for the week
The market is paying close attention to U.S. stock earnings reports for the second quarter. Small Mo, Wells Fargo and Citi earnings report all exceeded expectations. U.S. July University of Michigan consumer confidence index exceeded expectations.
The Dow rose 113.89 points, or 0.33%, to 34,509.03; the Nasdaq fell 24.87 points, or 0.18%, to 14,113.70; the S&P 500 index fell 4.62 points, or 0.10%, to 4505.42.
All three major U.S. stock indexes recorded gains this week, with the Dow up 2.29%, the S&P 500 has risen 2.42%, and the Nasdaq up 3.32%.
The U.S. Producer Price Index (PPI) for June released on Thursday showed a lower-than-expected rise in inflation, further confirming the market's understanding that Wednesday's weaker-than-expected U.S. Consumer Price Index (CPI) pointed to a steady decline in inflation, leading to the belief that the Federal Reserve has finally won the fight against inflation, the rate hike cycle is coming to an end, making traders optimistic. But the Fed is still likely to raise its benchmark interest rate later this month.
Other market, Friday, the New York Mercantile Exchange gold futures for August delivery rose 60 cents, or 0.03%, to close at $1,964.40 an ounce, the highest closing price since June 16th. The cumulative gain for the week was 1.65%.October gold futures closed up 0.02% at $1983.40 an ounce, a cumulative gain of 1.63% for the week.
West Texas Intermediate (WTI) crude oil futures for August delivery fell $1.47, or 1.9%, to close at $75.42 a barrel on the New York Mercantile Exchange. Based on the most active contract, the price of WTI crude futures rose 2.1 percent for the week.
美股收盘：美股涨跌不一 三大股指本周均录得涨幅
市场密切关注美股二季度财报。小摩、富国和花旗财报均超预期。美国7月密歇根大学消费者信心指数超预期。
道指涨113.89点，涨幅为0.33%，报34509.03点；纳指跌24.87点，跌幅为0.18%，报14113.70点；标普500指数跌4.62点，跌幅为0.10%，报4505.42点。
本周美股三大股指均录得涨幅，道指上涨2.29%，标普500指数已上涨2.42%，纳指上涨3.32%。
本周四公布的美国6月生产者价格指数（PPI）表明通胀涨幅低于预期，进一步证实了周三弱于预期的美国消费者价格指数（CPI）指向的通胀稳步下降的市场认识，使人们相信美联储终于赢得了抗击通胀的胜利、加息周期即将结束，令交易商情绪乐观。但美联储仍有可能在本月晚些时候上调基准利率。
其他市场面，周五纽约商品交易所8月交割的黄金期货价格上涨60美分，涨幅为0.03%，收于每盎司1964.40美元，创6月16日以来的最高收盘价。本周累计上涨1.65%。10月黄金期货收涨0.02%，报1983.40美元/盎司，本周累涨1.63%。
纽约商品交易所8月交割的西德克萨斯中质原油（WTI）期货价格下跌1.47美元，跌幅为1.9%，收于每桶75.42美元。按照最活跃合约计算，本周WTI原油期货价格上涨2.1%。
The market is paying close attention to U.S. stock earnings reports for the second quarter. Small Mo, Wells Fargo and Citi earnings report all exceeded expectations. U.S. July University of Michigan consumer confidence index exceeded expectations.
The Dow rose 113.89 points, or 0.33%, to 34,509.03; the Nasdaq fell 24.87 points, or 0.18%, to 14,113.70; the S&P 500 index fell 4.62 points, or 0.10%, to 4505.42.
All three major U.S. stock indexes recorded gains this week, with the Dow up 2.29%, the S&P 500 has risen 2.42%, and the Nasdaq up 3.32%.
The U.S. Producer Price Index (PPI) for June released on Thursday showed a lower-than-expected rise in inflation, further confirming the market's understanding that Wednesday's weaker-than-expected U.S. Consumer Price Index (CPI) pointed to a steady decline in inflation, leading to the belief that the Federal Reserve has finally won the fight against inflation, the rate hike cycle is coming to an end, making traders optimistic. But the Fed is still likely to raise its benchmark interest rate later this month.
Other market, Friday, the New York Mercantile Exchange gold futures for August delivery rose 60 cents, or 0.03%, to close at $1,964.40 an ounce, the highest closing price since June 16th. The cumulative gain for the week was 1.65%.October gold futures closed up 0.02% at $1983.40 an ounce, a cumulative gain of 1.63% for the week.
West Texas Intermediate (WTI) crude oil futures for August delivery fell $1.47, or 1.9%, to close at $75.42 a barrel on the New York Mercantile Exchange. Based on the most active contract, the price of WTI crude futures rose 2.1 percent for the week.
美股收盘：美股涨跌不一 三大股指本周均录得涨幅
市场密切关注美股二季度财报。小摩、富国和花旗财报均超预期。美国7月密歇根大学消费者信心指数超预期。
道指涨113.89点，涨幅为0.33%，报34509.03点；纳指跌24.87点，跌幅为0.18%，报14113.70点；标普500指数跌4.62点，跌幅为0.10%，报4505.42点。
本周美股三大股指均录得涨幅，道指上涨2.29%，标普500指数已上涨2.42%，纳指上涨3.32%。
本周四公布的美国6月生产者价格指数（PPI）表明通胀涨幅低于预期，进一步证实了周三弱于预期的美国消费者价格指数（CPI）指向的通胀稳步下降的市场认识，使人们相信美联储终于赢得了抗击通胀的胜利、加息周期即将结束，令交易商情绪乐观。但美联储仍有可能在本月晚些时候上调基准利率。
其他市场面，周五纽约商品交易所8月交割的黄金期货价格上涨60美分，涨幅为0.03%，收于每盎司1964.40美元，创6月16日以来的最高收盘价。本周累计上涨1.65%。10月黄金期货收涨0.02%，报1983.40美元/盎司，本周累涨1.63%。
纽约商品交易所8月交割的西德克萨斯中质原油（WTI）期货价格下跌1.47美元，跌幅为1.9%，收于每桶75.42美元。按照最活跃合约计算，本周WTI原油期货价格上涨2.1%。
Today's gold trading will start on time at 2:30 pm, please be prepared. Students who have not yet settled the profit sharing, please hurry up to settle the profit sharing, so as not to miss today's gold transaction.
下午2点30分准时开始今天的黄金交易，请大家做好准备。还未结算分成利润的学员，请抓紧时间结算分成利润，以免错过今天的黄金交易。
下午2点30分准时开始今天的黄金交易，请大家做好准备。还未结算分成利润的学员，请抓紧时间结算分成利润，以免错过今天的黄金交易。
U.S. stocks close: Dow rises for 7 consecutive days and hits new high for the year, S&P and Nasdaq hit 15-month high
U.S. stocks closed higher on Tuesday. The Dow posted its seventh straight session of gains. Companies such as Bank of America and Morgan Stanley (91.94, 5.57, 6.45%) reported better-than-expected earnings. U.S. retail sales in June were weaker than expected, further strengthening market expectations that the Fed's interest rate hike cycle is nearing the end.
The Dow rose 366.58 points, or 1.06%, to 34951.93; the Nasdaq rose 108.69 points, or 0.76%, to 14353.64; the S&P 500 rose 32.19 points, or 0.71%, to 4554.98.
On the economic data front on Tuesday, the Commerce Department reported that U.S. consumer spending was weaker than expected in June despite a brighter inflation environment.
In terms of other data, the NAHB real estate market index in the United States in July was 56, expected to be 56, and the previous value was 55. U.S. business inventories rose by 0.2% month-on-month in May, expected to be 0.20%, and the previous value was 0.20%.
In other markets, gold futures for August delivery on the New York Mercantile Exchange rose $24.40, or about 1.3%, to settle at $1,980.80 an ounce, the highest closing price for the most-active contract since June 6.
美股收盘：道指7连涨并创年内新高 标普与纳指创15个月新高
美股周二收高。道指录得连续第七个交易日上涨。美银与摩根士丹利(91.94, 5.57, 6.45%)等公司的财报好于预期。美国6月零售销售弱于预期，进一步强化了关于美联储加息周期已接近终点的市场预期。
道指涨366.58点，涨幅为1.06%，报34951.93点；纳指涨108.69点，涨幅为0.76%，报14353.64点；标普500指数涨32.19点，涨幅为0.71%，报4554.98点。
周二经济数据面，美国商务部报告称，尽管通胀环境变得更加光明，但美国6月消费者开支弱于预期。
其他数据面，美国7月NAHB房产市场指数56，预期56，前值55。美国5月商业库存环比增长0.2%，预期0.20%，前值0.20%。
其他市场面，纽约商品交易所8月交割的黄金期货价格上涨24.40美元，涨幅约1.3%，收于每盎司1980.80美元，为6月6日以来最活跃合约的最高收盘价。
U.S. stocks closed higher on Tuesday. The Dow posted its seventh straight session of gains. Companies such as Bank of America and Morgan Stanley (91.94, 5.57, 6.45%) reported better-than-expected earnings. U.S. retail sales in June were weaker than expected, further strengthening market expectations that the Fed's interest rate hike cycle is nearing the end.
The Dow rose 366.58 points, or 1.06%, to 34951.93; the Nasdaq rose 108.69 points, or 0.76%, to 14353.64; the S&P 500 rose 32.19 points, or 0.71%, to 4554.98.
On the economic data front on Tuesday, the Commerce Department reported that U.S. consumer spending was weaker than expected in June despite a brighter inflation environment.
In terms of other data, the NAHB real estate market index in the United States in July was 56, expected to be 56, and the previous value was 55. U.S. business inventories rose by 0.2% month-on-month in May, expected to be 0.20%, and the previous value was 0.20%.
In other markets, gold futures for August delivery on the New York Mercantile Exchange rose $24.40, or about 1.3%, to settle at $1,980.80 an ounce, the highest closing price for the most-active contract since June 6.
美股收盘：道指7连涨并创年内新高 标普与纳指创15个月新高
美股周二收高。道指录得连续第七个交易日上涨。美银与摩根士丹利(91.94, 5.57, 6.45%)等公司的财报好于预期。美国6月零售销售弱于预期，进一步强化了关于美联储加息周期已接近终点的市场预期。
道指涨366.58点，涨幅为1.06%，报34951.93点；纳指涨108.69点，涨幅为0.76%，报14353.64点；标普500指数涨32.19点，涨幅为0.71%，报4554.98点。
周二经济数据面，美国商务部报告称，尽管通胀环境变得更加光明，但美国6月消费者开支弱于预期。
其他数据面，美国7月NAHB房产市场指数56，预期56，前值55。美国5月商业库存环比增长0.2%，预期0.20%，前值0.20%。
其他市场面，纽约商品交易所8月交割的黄金期货价格上涨24.40美元，涨幅约1.3%，收于每盎司1980.80美元，为6月6日以来最活跃合约的最高收盘价。
Important data tonight:
22:30 U.S. to July 14 week EIA crude oil inventory (10,000 barrels)
Previous value: 594.6
Predicted value: -244
Importance: ⭐️⭐️⭐️⭐️
今晚重要数据公布：
22:30美国至7月14日当周EIA原油库存(万桶)
前值：594.6
预测值：-244
重要性：⭐️⭐️⭐️⭐️️
22:30 U.S. to July 14 week EIA crude oil inventory (10,000 barrels)
Previous value: 594.6
Predicted value: -244
Importance: ⭐️⭐️⭐️⭐️
今晚重要数据公布：
22:30美国至7月14日当周EIA原油库存(万桶)
前值：594.6
预测值：-244
重要性：⭐️⭐️⭐️⭐️️
Tomorrow at 8:30 pm is our weekly small non-agricultural data release, which is expected to bring us 100%-150% benefits. All students, please check the funds in the account. If the funds in the account are insufficient, you can contact Jennifer in advance to deposit.
明天晚间8点30分是我们每周一次的小非农数据公布，预期将给我们带来100%-150%的收益。请各位学员检查账户资金情况，账户资金不足的学员，可以提前联系Jennifer进行存款。
明天晚间8点30分是我们每周一次的小非农数据公布，预期将给我们带来100%-150%的收益。请各位学员检查账户资金情况，账户资金不足的学员，可以提前联系Jennifer进行存款。
Continued Bearishness: Corporate Earnings and Stocks to Take a Hit as Anti-Inflation Turns to Deflation
Anti-inflation is about to turn into deflation, which is a major headwind for corporate earnings, which in turn affects stock prices, and investors have yet to take that into account. Consumer and producer prices are slowing, raising investor hopes of a soft landing for the U.S. economy. Meanwhile, the Producer Price Index (PPI) rose just 0.1% year-over-year, down from 0.9% in June 2022.
The market interpreted this as good news for the stock market, as cooling inflation could cause the Federal Reserve to soon pause rate hikes or even start cutting rates.
But it will take about 12 months for the full impact of the rate hikes to show up in the real economy. This could mean that inflation will cool much faster than expected until prices actually start to fall. The result could be not only anti-inflation (a slowdown in the rate of price increases) but outright deflation (falling prices). This is bad news for the stock market.
继续看空：反通胀将转为通缩，企业盈利和股市将遭受重创
反通胀即将转变为通缩，这是企业盈利的主要阻力，进而影响股价，而投资者尚未考虑到这一点。消费者价格和生产者价格正在放缓，这引发了投资者对美国经济软着陆的希望。与此同时，生产者价格指数（PPI）同比仅上涨0.1%，低于2022年6月的0.9%。
市场将此解读为对股市的利好消息，因为通胀降温可能导致美联储很快暂停加息，甚至开始降息。
但加息的全部影响要在实体经济中显现出来，大约需要12个月的时间。这可能意味着通胀降温的速度将比预期快得多，直至价格实际开始下跌。其结果可能不仅是反通胀（物价上涨速度放缓），而且是彻底的通缩（物价下跌）。这对股市来说是个坏消息。
Anti-inflation is about to turn into deflation, which is a major headwind for corporate earnings, which in turn affects stock prices, and investors have yet to take that into account. Consumer and producer prices are slowing, raising investor hopes of a soft landing for the U.S. economy. Meanwhile, the Producer Price Index (PPI) rose just 0.1% year-over-year, down from 0.9% in June 2022.
The market interpreted this as good news for the stock market, as cooling inflation could cause the Federal Reserve to soon pause rate hikes or even start cutting rates.
But it will take about 12 months for the full impact of the rate hikes to show up in the real economy. This could mean that inflation will cool much faster than expected until prices actually start to fall. The result could be not only anti-inflation (a slowdown in the rate of price increases) but outright deflation (falling prices). This is bad news for the stock market.
继续看空：反通胀将转为通缩，企业盈利和股市将遭受重创
反通胀即将转变为通缩，这是企业盈利的主要阻力，进而影响股价，而投资者尚未考虑到这一点。消费者价格和生产者价格正在放缓，这引发了投资者对美国经济软着陆的希望。与此同时，生产者价格指数（PPI）同比仅上涨0.1%，低于2022年6月的0.9%。
市场将此解读为对股市的利好消息，因为通胀降温可能导致美联储很快暂停加息，甚至开始降息。
但加息的全部影响要在实体经济中显现出来，大约需要12个月的时间。这可能意味着通胀降温的速度将比预期快得多，直至价格实际开始下跌。其结果可能不仅是反通胀（物价上涨速度放缓），而且是彻底的通缩（物价下跌）。这对股市来说是个坏消息。
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