1、2200 单词， 12500 英文字符 ,3800 汉字 本科毕业论文外文资料翻译 系 别： 经济系 专 业： 会计学 姓 名： 学 号： 年月 日 外文原文 Fluctuations in stock market prices in the United States Sir John Templeton John once pointed out: people always pay too much attention to short-term performance in front of. Seems to be in Europe, the whole market has m
2、ade the same mistake. In our opinion, as the crisis unfolded, investors fled Europe, it may miss the potential opportunities - at a cheap price with high quality enterprises. Even according to the analysis process of rigorous Templeton Global Equity Group, in our opinion, at present all over the wor
3、ld, there are still many investment opportunities. Such investment opportunities in various industries throughout. In the United States, one of the main purpose of the investors in the stock market is to share out bonus, stock investment has become another form of savings. According to the data prov
4、ided by the s&p - the dow Jones industrial average, the public company common stock dividend amount in the first quarter of this year net gain of $14.5 billion, increased 12%. At the same time, a total of 994 companies raised dividends in the first quarter, up 39% from a year earlier, in the same pe
5、riod last year only 677 companies improve dividends. In fact, the stock market also continued high score bonus hot streak, in the fourth quarter of last year alone, including retailers such as wal-mart over hundred special dividends provided by the listed companies in the United States announced the
6、 end of the year. These stocks also immediately get investors. Since this year, the dividend yield more than 4% of Pfizer risen nearly 17%, telecom operator AT&T shares rose 13%, wal-mart also rose 15%. In march last year, the company announced a $45 billion for dividends and buy back shares, this i
7、s the first time since 1995 the company dividends. Analysts said that the us is willing to pay dividends of listed companies, because of share out bonus environment has been formed. Generous dividends to investors for the future management of the listed companys cash flow and level with greater conf
8、idence. The oldest stock price index, the dow as America is a barometer of the economy, is an indicator of world markets. From the initial 12 stocks, the 1916 and 1928 increased stocks. At present, the dow 30 stocks across food, financial, aerospace, machinery, chemical industry, electronics, automo
9、bile manufacturing, petroleum, pharmaceutical, software such as the industry combination, despite being in the algorithm of the weighted average price is not balanced, but overall, the changes of the dow 30 stocks development accurately shows the driving force of economic development in the United S
10、tates. In addition, the dow innovation high just reflects a direction, rather than all the stock in record, on the contrary some stocks because of does not comply with the conditions and rules and delisting, some stock prices remain at historically low levels, the evolution mechanism of market-orien
11、ted operation has become one of the reasons for the high stock innovation. But the short-term volatility is inevitable, although the dow and s&p index hit a record high, but by no means can rest easy, triumph. In the first quarter of this year, according to barclays, U.S. stocks average daily tradin
12、g volume of 6.5 billion shares than the same period last year decreased by 6%. In addition, the drop shows investors commodity prices on the global economic growth is not very confident. For U.S. stocks trend in the future, the market participants is generally believed that U.S. stock earnings seaso
13、n will become the vane of the recent stock market. Due to the large gains, U.S. stocks in the short term or the appropriate callback. However, even if the feds exit of quantitative easing, the U.S. stock market will fall, but never collapse. For the future trend of stocks, market participants genera
14、lly believe that the U.S. stockearnings season will become the recent trend of the stock market barometer. Because of the cumulative increase is too large, stocks in the short term or the appropriate callback. However,even if the Feds quantitative easing exit, USA stocks will decline, but will not c
15、ollapse. Generally speaking, the European stock market overall average dividend yield at the rate of more than 4%, which is about two times the 10 year American bonds, the European Securities and Japanese government bonds. At present, the European region has the highest in the history of the risk pr
16、emium, there are a lot of these spreads between corporate bonds and government bonds, but they are actually quite strong fundamentals. According to our calculations, probably more than six of European companies, their sales are for the global market, strictly speaking, a lot of companies are based i
17、n Europe, but in fact business all over the world. In the long term, the long-term prospects of these diverse European Multi-National Corporation, and the macroeconomic outlook for their domestic correlation is much lower. As a global investor, Templeton Global Equity team has a large number of Euro
18、pean banks, European pharmaceutical companies and the European telecommunications company, the business development of a large number of European companies in developing countries, especially the US held by the fund of the object, there are about more than 1/3 of its revenue from emerging markets. I
19、n view of the low valuation of European stock markets, as well as those of famous companies in the leading edge products and services to the global market sales, we believe that the European stock market is still among the worlds most attractive area, of course, this is from a long investment period.
