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The leading indices on the New York Stock Exchange showed mixed prices. / Photo = Yonhap News
On the New York Stock Exchange, major indices closed mixed amid uncertainty over US stimulus packages and concerns about a no-deal Brexit.
On the 11th (current time) on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average 30 rose 47.11 points (0.16%) from the battlefield to 30,046.37. On the other hand, the Standard & Poor’s (S&P) 500 index closed at 3,663.46, 4.64 points (0.13%) less than the previous day, while the NASDAQ index oriented to technology stocks closed at 12,377.87, dropping 27.94 points (0.23%).
As a result, the Dow index fell 0.6% this week. The S & P500 index fell about 1% and the Nasdaq fell 0.7%, all major indices fell back. Weekly, it was reduced after three weeks.
On this day, the mayor paid attention to the US stimulus measures, the negotiations on trade agreements between the UK and the European Union, the spread of the novel coronavirus (Corona 19) infection and related news with vaccines. In particular, the market expressed disappointment when there was no clear progress in negotiating additional stimulus measures in the US.
Congress is negotiating to pass additional stimulus bills in less than three weeks this year. However, the differences of opinion between Democrats and Republicans in terms of funding for state and local governments and corporate liability exemptions are not narrowing. The United States Senate approved a bill that would extend the government’s budget for one week until the 18th. The bill was previously approved in the House of Representatives. When the ultrashort budget bill passed the entire Senate and House, it bought time. Although the urgent fire on the budget has been put out, there are concerns that negotiations will extend through Christmas.
The difficulty of negotiating a trade agreement between the UK and the EU also puts a strain on the market. British Prime Minister Boris Johnson warned that the possibility of a no-deal Brexit is very high and said there are still disagreements on fisheries issues. Concerns remain about the difficulty of reaching an agreement.
Positive news about the Corona 19 vaccine continues. The first vaccine is expected to be approved soon in the United States. The Vaccine and Biological Medicines Advisory Committee (VRBPAC), an advisory body to the U.S. Food and Drug Administration (FDA), recommended FDA approval for emergency use of Pfizer’s vaccine at the meeting previous. The Secretary of Health and Human Services of the United States, Alix Aza, said that vaccination could begin next Monday or Tuesday. Corona 19’s situation in the United States remains dire. Recently, around 3,000 people have died every day.
By industry, technology stocks fell 0.23%, while industrial stocks were up 0.23%. By category, Walt Disney increased 14%. It showed the largest increase since October 2008. Walt Disney’s (OTT) online video service ‘Disney Plus’ officially announced that it will expand the service to more countries, including Korea and Hong Kong. Qualcomm fell 7% on news that Apple will develop its own modem chip to replace the Qualcomm chip. Tesla was down 2.7% in the analysis that it lowered its rating from Buy to Hold.
Hankyung.com reporter Kim Hana [email protected]
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