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The US Stock Exchange in New York went through a huge roller coaster ride before and after the presidential elections. The main index of the New York Stock Exchange, which fell 5-6% before the presidential elections last week, showed the opposite trend this week when the presidential elections were held. It is similar to the appearance of an examinee who was very nervous and exhausted before the examination, recovering from his condition after the examination. In particular, as the victory of Democratic Party candidate Joe Biden takes shape amid a competitive battle, investors are seeking a sense of relief.
On the 6th (local time), the Dow Jones 30 Industrial Average fell 0.24% from the previous trading day to 28,323.40, and the Standard & Poor’s (S&P) 500 Index closed at 3,509.44, down 0.03%. The Nasdaq index rose 0.04% to close at 11,895.23.
The Dow and S&P 500 indices, which fell 6.5% and 5.6% last week, respectively, were up 6.9% and 7.3% this week, respectively, offsetting last week’s decline. . The weekly increase is the highest since April. The S&P 500 Index posted the highest gains in states that have been presidential since 1932.
The NASDAQ rose for five consecutive business days to this day, posting a 9% weekly increase.
The rise in the stock market this week is believed to be the effect of investors betting on the so-called “divided government (Democrats in the White House, Republicans in the Senate)” scenario. The Democratic Party is unlikely to take over the White House, Senate and House of Representatives, but this has attracted positive criticism from investors, focused on the NASDAQ.
This is because if the Republican Party maintains majority party status in the Senate as it is now, corporate tax increases and tighter regulations for IT companies will be boring. This is the main reason why the Nasdaq registered a relatively large increase compared to the Dow and S&P 500 indices. This demonstrated the myth that the “divided government”, which controls the White House and Congress by other political parties, historically it has benefited the stock market. The mayor paid more attention to the majority of the Senate than to the owners of the White House.
The Chicago Options Exchange (CBOE) Volatility Index (VIX), known as the ‘Wall Street Fear Index’, is stabilizing, registering 24.86, 9.86% less than the previous trading day .
If the results of the counting of the actions of the competition become more evident from the weekend, next week, if the crown 19 is extended, it is expected that the direction of the elected economic stimulus policy and the possibility of cooperation cooperative with Congress have a significant impact on the market.
The number of corona19 patients in the United States this week increased unprecedentedly, but did not have a relatively significant impact on the stock market due to the results of the presidential election. But next week, this situation is likely to put pressure on the stock market.
According to CNN’s analysis of statistics from Johns Hopkins University, the number of new cases in the US registered 12,1888 as of day 5, renewing an all-time high. This is an increase of about 20,000 people from the previous record of 102,831 on the 4th. The number of confirmed cases is not biased towards some states, but it is spreading throughout the country, so it is expected that they will be raised again state-by-state economic blockade measures.
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