Goldman's View On Stocks, Howard Marks Insight, State Of The Union Etc. 高盛看股市，霍华德的慧眼，国情咨文等等。

。President Donald Trump is expected to go after high drug prices in his State of the Union address, an effort that could have bipartisan support. The drug sector and providers could be the biggest losers after the Trump speech. Infrastructure stocks could be the winners though there is skepticism that Trump and Democrats will be able to agree on anything but a scaled-back plan. ---CNBC

。Goldman Sachs is forecasting slower growth and profits for the rest of the year — which could be bad news for investors who missed January’s rally. “The rally we expected has happened swiftly, and given this we see relatively modest returns on equities from here, ” Goldman Sachs analyst Sharon Bell says.---CNBC

。The United States sees the European Union as its top priority in a global effort to convince allies not to buy Huawei equipment for next-generation mobile networks, a U.S. State Department Official said on Tuesday. ---Reuters

。Howard Marks - the co-founder and co-chairman of Oaktree Capital Management : To me, it just confirms that markets are psychologically volatile. On October 3, everything was fine; on October 4, the equity market began one of the biggest declines ever seen over such a short period of time, leading to the worst December since the Global Financial Crisis (GFC). Fundamentally, of course nothing had changed overnight, and not much has changed even over the prior few months; mostly it’s just that the market swung from looking at things optimistically to looking at them  pessimistically. The truth is, most things can be viewed either positively or negatively, and the bias of onlookers influences which perception prevails at any point in time. All that said, I have argued since roughly mid-2017 that markets were excessively optimistic. And excessive optimism, faith in the future, and greed leave the market vulnerable to this type of sentiment-driven correction. So this episode just illustrates how much market violence emotion can wreak, especially from a place of too much exuberance.

。January US PMI Services Index: 54.2 in-line with consensus, 54.4 prior.

。Analyst ratings on Alphabet (GOOGL): Wedbush reiterated it as Outperform with a $1,350 target. Nomura/Instinet maintained its Buy rating but lowered its target to $1,310 from $1,350. Barclays maintained its Overweight rating but lowered its target to $1,350 from $1,400.  GOOGL closed up 10.45%.---24/7 Wall Street

。Walt Disney (DIS): Q1 EPS of $1.86 beats by $0.34. Revenue of $15.3B (-0.3% Y/Y) beats by 250M.  DIS is up 0.43% in after hour trading.

。Snap (SNAP): EPS of -$0.14 beats by $0.05. Revenue of $389.82M (+36.4% Y/Y) beats by $12.83M. SNAP is up over 21% in after trading.

。IPhone-maker Apple has reached a deal with French authorities to pay back taxes. French magazine L'Express reported that the firm paid nearly €500m ($570m, £439m) in a confidential settlement reached late last year. ---BBC

。Morgan Stanley cuts some key estimates on Tesla (TSLA) after factoring in the company's earnings report and guidance update. Morgan Stanley keeps an Equal-weight rating on Tesla and drop its price target to $283. ---seeking alpha



。预计唐纳德特朗普总统将在他的国情咨文演讲中会提到打压高药价，这项努力可能得到两党的支持。在特朗普致辞后，药物和提供商可能成为最大的输家。虽然有人怀疑特朗普和民主党能否就达成任何协议，但基础设施股可能是赢家。 --- CNBC

。高盛预计今年余下时间的增长和利润将放缓 - 这对于错过1月份反弹的投资者来说可能是坏消息。高盛分析师莎伦贝尔（Sharon Bell）表示，“我们预期的美股反弹已经迅速发生了，鉴于此，我们认为股市的回报会相对温和。” -  CNBC

。美国国务院官员周二表示，美国将欧盟视为全球努力说服盟友不要购买华为下一代移动网络设备的首要任务。 ---Reuters

。霍华德马克斯（Howard Marks） - 橡树资本管理公司的联合创始人兼联合主席：对我而言，股市的波动只是证实市场在心理上是不稳定的。 10月3日，一切都很看好;在10月4日，股市开始在如此短的时间内出现的最大跌幅之一，导致全球金融危机（GFC）以来最糟糕的12月。从基本面上说，当然没有什么事情在一夜之间发生了变化，即使在前几个月也没有太大的变化;主要是因为市场从乐观地看待事物而转为悲观地看待它们。事实是，大多数事情都可以被正面或负面地看待，旁观者的偏见会影响在任何时间点存在的看法。所有这一切，我从大约2017年中期开始就认为市场过于乐观。过度的乐观，对未来的信心和贪婪使市场容易受到这种受情绪驱动而调整。所以这一次股市的波动只是说明了市场暴力情绪会带来多大的影响，尤其是来自一个过份乐观的地方。
---zerohedge

。1月份美国PMI服务业指数为54.2符合市场预期，12月数据为54.4。

。Alphabet（GOOGL）的分析师评级：Wedbush以1350美元的目标价重申评级为优于大市。野村/ Instinet维持买入评级，但将目标从1,350美元下调至1,310美元。巴克莱维持其增持评级，但将目标价从1,400美元下调至1,350美元。 GOOGL 上升10.45%。 ---华尔街24/7

。沃尔特迪斯尼（DIS）每股盈利为1.86美元，好于预期34分。营业额为15.3亿美元（同比下降0.3％），超过预期2.5亿美元。DIS 后市交易上升0.43%。

。Snap（SNAP）：第四季度每股盈利－0.14美元，好于0.05美元。 营业额为3.8982亿美元（同比增长36.4％），好于预期1283万美元。SNAP 后市交易上升多于21%。

。IPhone制造商Apple已与法国当局达成偿还税款的交易。法国杂志L'Express报道称，该公司去年底达成的保密协议支付了近5亿欧元（5.7亿美元，4.39亿英镑）。 --- BBC

。在考虑了公司的盈利报告和更新的指引后，摩根士丹利削减了对特斯拉（TSLA）的一些关键估计。摩根士丹利对特斯拉保持大市表现评级，并将其目标股价下调至283美元。 ---seeking alpha