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The Federal Reserve has reminded investors that market turbulence is not over, despite a recent rally.

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According to QIC’s chief economist, Matthew Peter, the Fed’s statements on holding the cash rate for the next three years has had a dour impact on markets, which have previously been boosted due to the “whatever it takes and more” mentality of central banks.

“Back in March, the swift and massive easing of monetary policy by the Fed and other central banks did two things to lift equity market sentiment. First, it staved off the risk of dislocation in short-term money markets and avoided a severe credit squeeze, ala the GFC.”

“Second, it gave investors comfort that in the face of further deterioration in the outlook, central banks would step up the policy dose, the so-called Fed put, which limits the downside to equity prices,” Mr Peter explained.

However, despite improving economic conditions, declining COVID-19 cases and strong gains in investor sentiment, the Fed’s comments on medium-term growth for the US saw markets fall. 

“But this week, Fed chair Powell hosed down expectations of a sharp economic recovery and any prospect of an inflation outbreak, and with that, virtually no chance of a hike in the Fed funds rate for the next three years,” Mr Peter said.

“The Fed’s economic forecasts revealed a sombre view of growth, with US GDP expected to fall by 6.5 per cent this year, and the economy to take another three years to fully recover.”

Australia’s ASX 200 fell from 6,177 points on Tuesday to a low of 5,867. 

The Australian market was not in isolation, with the US S&P 500 falling by 3.5 per cent, the Japanese Nikkei 225 falling by 1 per cent and the England’s FTSE 100 giving up 4.2 per cent by 11 June.

---

Did you enjoy this article? You may also be interested in:

• The 'buy now, ask later' investment strategy
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The Federal Reserve has reminded investors that market turbulence is not over, despite a recent rally.

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Investors are being warned to look beyond sectors when it comes to a post-COVID-19 world, with individual company’s regulatory environment, valuations and demand outlooks changing businesses’ future growth.

Write comment (0 Comments) " ["fulltext"]=> string(5053) "

Fidelity international’s chief investment officer, Asia Pacific, Paras Anand, told the media that while sectors will benefit from COVID-19, it is important to make distinctions between where opportunities and risk lie.

“Let’s talk about the technology sector for example,” Mr Anand said.

“We do think the technology remains extremely in a world where we’ve made a quantum leap in digitalisation, and certain use cases are clearly going to have an acceleration in terms of demand over the medium term,” Mr Anand said.

However, investors are being advised to be cautious on valuations, as well as being told to focus on the different regulatory environment and demand outlook, using China and the United States as examples.

“If we are in an environment where there is a higher level of government participation in the economy. One of the things we could expect to see in different parts of the world is higher levels of regulation and intervention,” Mr Anand explained.

“If we start with the US, what we are dealing with are large tech platforms. They are the incumbent monopoly, and they are the ones that get higher government scrutiny.”

With companies such as Facebook and Uber who have previously argued with regulators, they could face a harder time moving forward.

“In an environment where there is a deeper sense of government participation, the regulatory backlash could be substantial. That would evolve and impact their business model.

“That is very different if we look at Tencent in China or the large technology platforms who generally have party members on the board. They have been developed with that view of their societal contribution and societal responsibility.” 

This means the companies are less likely to be regulated.

“We do see great opportunities in technology and healthcare, but it is not enough in the environment we are going into to make broad-based recommendations.”

“I think one needs to look at the particular market, the particular company and the valuation to really define where sources of future returns are going to be attractive.”

COVID-19 has also revealed some surprising winners from a value perspective.

“There are areas around connectivity and telecommunications as we move to a 5G environment,” Mr Anand said.

“We are finding interesting opportunities in the financials and the banks, discounting a very low rate environment, pressures on net interest margins. But again, as we extend our view and our time horizon, we see real value in the markets.

Meanwhile, Fidelity’s portfolio manager, George Efstathopoulos, noted that sectors which theoretically should struggle are becoming attractive due to the discounted rate investors have put on the shares. 

“When we think about a post-COVID world, these are the things fundamentally that should do well, and these are the things that will struggle.

“Then you also have to incorporate the pricing element. So, there are things that should be doing well but that have been priced in.”

“I’ll touch on financials. In theory, when rates are lower for longer, implications on NIMs (net interest margins), plus implications on NPL formation (non-performing loan), but on the other hand the pricing on a PB (price to book) is very cheap today.” 

“We are paying more attention especially in Europe. Should we get more positive news on the European recovery front, that will have positive implications especially for banks,” Mr Efstathopoulos said.

---

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Investors are being warned to look beyond sectors when it comes to a post-COVID-19 world, with individual company’s regulatory environment, valuations and demand outlooks changing businesses’ future growth.

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As world markets show strong signs of recovery, with the NASDAQ 100 reaching record highs and Australia’s ASX 200 briefly crossing 6,000 points, many investors are buying now and asking questions later, a portfolio manager explains.

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During Fidelity’s media briefing, portfolio manager George Efstathopoulos noted that investors are becoming increasingly optimistic about the future, which is seeing money flood back into the market.

“In March it was ‘sell now, ask questions later’. If you’ve seen what has happened in the past couple of months, it has been the exact opposite,” Mr Efstathopoulos said. 

“It’s been buy, with a fear of missing out syndrome, and ask questions later.”

Mr Efstathopoulos said he is becoming increasingly worried about the divide that is happening between the fundamentals of world economies, which are facing an uncertain post-COVID-19 future, and the markets, which are pricing in a fast recovery.

“We are seeing a meaningful divergence between global economic fundamentals where huge uncertainties lie ahead and financial markets that are pricing a strong V recovery,” the portfolio manager said.

“We think the driving force behind this growing wedge is the massive injection of liquidity from central banks.”

A key concern for the portfolio market is there are too many assumptions that are increasingly priced in as certainty, whereas the reality can be very different.

Mr Efstathopoulos explained that key data, including employment, retail sales and real estate markets, remain uncertain despite positive signs.

“If we look at the job data, a higher proportion of what is classified as temporary employment rather than permanent employment, which supports the V-shaped recovery narrative.”

“However, the longer the return to normality takes, the higher the bankruptcy, the higher the defaults. We are seeing them across the services sector, food and beverage sector, and it will cause temporary unemployment to permanent unemployment,” he said.

The portfolio manager pointed out how the resumption of activity still has uncertainty despite early positive signs.

“I think two things. Firstly, speed also matters. Is the resumption of activity as fast as we thought two months ago? In some instances, that speed has fallen behind.”

“[Secondly] the resumption of these activities tells us nothing about how consumption will be affected by soaring unemployment or how business investment will respond to widespread bankruptcy that are already happening,” he said.

“The end of recession caused by mechanically lifting bans on supply side activity is completely different from an economic recovery driven by consumer and business demand,” the portfolio manager concluded.

---

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As world markets show strong signs of recovery, with the NASDAQ 100 reaching record highs and Australia’s ASX 200 briefly crossing 6,000 points, many investors are buying now and asking questions later, a portfolio manager explains.

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Following a volatile three months, the ASX 200 has regained some of its COVID-19 losses, rising to over 6,000 points, while the NASDAQ 100 has reached a new high, causing investors to wonder if the rally is sustainable.

Write comment (0 Comments) " ["fulltext"]=> string(3116) "

According to chief economist at AMP Capital Dr Shane Oliver, shares could remain volatile over the short term, with investors who are taking a longer-term view being encouraged to average into the market.

Dr Oliver highlighted how shares have climbed the “wall of worry” and are rallying with the threat of COVID-19 and civil unrest not enough to stop the US markets leading the world in growth.

“But I have seen this happen before and it reminds me of the quotation from the investor Sir John Templeton, ‘Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria’, as this rally has occurred against a lot of pessimism, with shares climbing a wall of worry.

“But as the quote reminds us, that’s what they often do. The plunge in shares into March led the coronavirus hit to activity and fear of recession on the way down and in the process surprised many at the severity of the fall and now it’s led on the way up despite still lots of worries,” Dr Oliver said.

The economist explained that key signs markets had bottomed out in April, as well as optimism as the economy reopened and further government support, has led to investors being bullish on markets.

However, that does not mean it’s smooth sailing for investors, with the markets likely to remain volatile.

“After huge rallies, most shares are technically overbought, which could mean we see a correction over the next few months. But many shares in many sharemarkets are at overbought extremes often seen in the aftermath of major bear market lows, and this augurs well for returns on a 6-12 basis,” Dr Oliver said.

He also highlighted three risks moving forward, including a second COVID-19 wave, collateral damage from shutdowns, and risks around the US election, which investors need to be mindful of.

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• What to know about investing in Asian markets

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-06-11 02:27:55" ["slug"]=> string(36) "15267:is-the-share-rally-sustainable" ["parent_slug"]=> string(16) "284:invest-money" ["catslug"]=> string(16) "286:stock-market" ["event"]=> object(stdClass)#4358 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(450) "

Following a volatile three months, the ASX 200 has regained some of its COVID-19 losses, rising to over 6,000 points, while the NASDAQ 100 has reached a new high, causing investors to wonder if the rally is sustainable.

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Investors are becoming highly concentrated, with the majority moves being focused on a few big names, leading to an opportunity to gain greater returns with smaller companies, a fund manager has said.

Write comment (1 Comment) " ["fulltext"]=> string(3282) "

Year-to-date data has shown that around 85 per cent of the move in the S&P 500 has been concentrated to just five tech stocks: FAAGM (Facebook, Apple, Amazon, Alphabet/Google and Microsoft).

Along with this extreme market cap concentration, market breadth — a measure of the percentage of stocks outperforming an index — in the S&P 500 has never been so narrow.

Antipodes Partners chief investment officer Jacob Mitchell said these market extremes have historically signalled a turning point in the market where less popular, lower multiple market losers begin to outperform the current winners. 

“Given the global pandemic that has been sending shock waves through economies in the past months, it’s astounding to see that this US-led market cap concentration has surpassed the previous historical highs seen during the dotcom bubble,” Mr Mitchell said.

However, he is not surprised by this reaction with cyclical stocks — which are broadly characterised as basic materials, consumer cyclical, financial, services and real estate — losing to the market.

“With acceleration in technological disruption and hits to business confidence, it’s no surprise that today, lower multiple losers are characterised by the more economically sensitive or cyclical parts of the market,” he explained.

Mr Mitchell said it could be argued that cyclicals right now have priced in the end of the industrial era. 

“Admittedly, outperformance from these stocks will require a change in the current narrow narrative as economies cyclically recover and stimulus switches from income protection to investment, with China and Europe leading this with decarbonisation, EV and 5G adoption,” he said.

“Given the extreme level of multiple dispersion, tomorrow’s market leaders are most likely to be misunderstood cyclicals.”

However, he has warned investors about simply buying cyclical stocks with a low multiple, but instead encouraged investors to look deeper.

“Don’t just buy a cyclical because it’s on a low multiple. Within this broad group, look for great businesses, attractively priced with embedded growth opportunities that the market is currently overlooking,” Mr Mitchell concluded.

---

Did you enjoy this article? You may also be interested in:

• Are growth stocks overvalued?
• How savvy parents are searching for the next Apple stocks
• Avoiding another tech bubble through ETFs

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Investors are expecting a quick economic recovery as the NASDAQ 100 hits a new record high and the S&P 500 wipes out the yearly losses.

Write comment (0 Comments) " ["fulltext"]=> string(4211) "

The benchmark S&P 500 index fell by nearly 34 per cent from peaks in February to the lows in March, moving the markets into bearish territory.

Rising technology and communication stocks have driven gains in the NASDAQ, with companies such as Zoom, which nearly tripled its share price from early January as lockdown forced consumers into new ways of communicating. 

The new bull market was confirmed just 16 weeks after COVID-19 fears saw investors sell down their assets as fears of a US recession loomed.

The NASDAQ has climbed 44.7 per cent from its 23 March bottom. A bull market is generally considered to be a rise of more than 20 per cent from the low point.

BetaShare's chief economist David Bassanese believes markets could be overly optimistic having eclipsed previous highs.

"Ultimately I suspect markets will be proven to have been overly optimistic in terms of the speed of economic recovery, but markets are ultimately driven by the daily news flow, which has remained generally encouraging since the global lockdowns were put in place," he said.  

"After all, the market had effectively discounted the negative lockdown related economic data during the sell-off in March, and so was immune to this data when it began to appear over recent months," Mr Bassanese explained.

As the economy begins to re-open the economist argues a clearer picture of the economic outlook will have an impact on the share market. 

"The market has been able to focus on the benefits of the lockdowns in terms of flattening the curve, gradual re-opening and now some early signs of a bounce in more recent economic data.  But the challenge will come after the initial post re-opening bounce in economic data – if subsequent data is a lot more subdued, as I think it will be.

"The market will likely continue to act as if a V-shaped recovery is coming until there is clearer evidence to the contrary," Mr Bassanese continued.

A major mover for the market was the monthly jobs report on Friday which showed an unexpected fall in the unemployment rate, bolstering views that the worst of the economic damage from the virus outbreak was over.

Stocks that have previously been hardest hit by the shutdown, including transportation, tourism and the retail industry, have all risen as investors become optimistic about a post-COVID-19 restricted world.

“What is clearly happening is the excitement of reopening is allowing a lot of these companies that have been casualties of COVID-19 to come back and come back in force,” said Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, told CNBC.

However, Mr Bassanese warned Australian investors to be cautious and be patient when investing in the US market.

"I still think it is time for caution, especially if you have yet to buy into the recent equity rally in a major way.  The fear of missing out is now intense, but I suspect a decent pull back – of potentially at least half the rally since late March – may unfold in coming months as the reality of a subdued economic recovery becomes evident," Mr Bassanese said.

Strong international results have boosted domestic stocks, with the Australian market rising 2.48 per cent at the time of publication. 

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string(19) "2020-07-08 05:42:04" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4124 (3) { ["data":protected]=> object(stdClass)#4127 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4126 (3) { ["data":protected]=> object(stdClass)#4129 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#4375 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4128 (3) { ["data":protected]=> object(stdClass)#4131 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4130 (3) { ["data":protected]=> object(stdClass)#4133 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#4372 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4132 (3) { ["data":protected]=> object(stdClass)#4135 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4134 (3) { ["data":protected]=> object(stdClass)#4137 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#4373 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4136 (3) { ["data":protected]=> object(stdClass)#4139 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4138 (3) { ["data":protected]=> object(stdClass)#4141 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#4368 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4140 (3) { ["data":protected]=> object(stdClass)#4146 (1) { ["options"]=> object(stdClass)#4144 (2) { ["options0"]=> object(stdClass)#4143 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#4145 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4142 (3) { ["data":protected]=> object(stdClass)#4148 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#4371 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4147 (3) { ["data":protected]=> object(stdClass)#4150 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4149 (3) { ["data":protected]=> object(stdClass)#4152 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#4381 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4151 (3) { ["data":protected]=> object(stdClass)#4154 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4153 (3) { ["data":protected]=> object(stdClass)#4156 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(77) "/invest-money/stock-market/us-equities-surge-on-v-shaped-recovery-predictions" ["image"]=> string(41) "images/article-826x550/bull-market-ne.jpg" ["image_alt"]=> string(11) "Bull market" } }