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◆ New York Stock Markets Rise in Anticipation of Stimulus End
Last night, the New York Stock Exchange rose in anticipation of the conclusion of the US economic stimulus package. Today, the Dow Jones 30 Industrial Average is up 1.13% from yesterday and the S&P 500 is up 1.29%. The Nasdaq index, which focuses on technology stocks, also rose 1.25%. The Nasdaq broke another record based on the closing price. The prospect of negotiations starting again has fueled market expectations, as nonpartisan lawmakers in Congress proposed advanced legislation on the issue of new stimulus measures. Non-partisan lawmakers have separated and proposed two issues: a liability protection clause that grants corporations privileges of immunity in lawsuits related to the new coronavirus infection (Corona 19), and local government support worth $ 160,000. millions. The news of the upcoming meeting of bipartisan leaders, including House Speaker Nancy Pelosi and Republican Senate Representative Mitch McConnell, also sparked heartbreaking sentiments. By shares, the stock price soared 5% as news that Apple plans to increase iPhone production by about 30% in the first half of next year.
◆ Disciplinary action by the Attorney General
The disciplinary committee of the Ministry of Justice voted this morning for two months in suspension against the attorney general Yoon Seok-yeol. The disciplinary action of the Attorney General is the first in constitutional history. When President Moon Jae-in returns home, President Yoon’s duties will be suspended for two months. There are four charges admitted by the disciplinary committee: drafting and distributing alleged documents of the judicial inspection, interfering with the inspection of the Canal A case, interfering with the investigation of the Canal A case and damaging political neutrality. Two reasons were not admitted: inappropriate meetings with the owners of the media company and interference with the prosecution during the president’s face-to-face investigation. After the start of the disciplinary committee, Yun’s side submitted a request to challenge the disciplinary committee, claiming it was unbelievable. President Yoon is in a position where he cannot accept the decision of the disciplinary committee, so he is expected to file an administrative lawsuit with a request for stay of execution immediately after President Moon’s stay. If the court accepts the suspension request, the disciplinary action can be immediately suspended.
◆ 900 confirmed cases are expected today
The number of new coronavirus (Corona 19) infections in Korea occurred at 10 p.m. yesterday at 832, and the number of additional confirmed cases the day before quarantine authorities announced today is expected to reach 900 to 1,000. Consequently, the average number of confirmed cases of local outbreaks per day per day for a week is expected to be the first to meet the three-step criteria for social distancing. The third step of distance is considered when the average daily average of 800 to 1000 cases of local outbreaks during a week or the level of 2.5 steps is doubled. Currently, the daily average of confirmed cases of local outbreaks for a week is 774. If the number of new confirmed cases announced today exceeds 824, it will average 800 people per day for a week. The government, however, recognizes the need to increase the gap to the third stage, but maintains a prudent stance for fear of enormous socioeconomic damage. The plan is to focus on preparing measures such as expanding preventive tests to find hidden infected people and expanding beds.
◆ US FDA “Effective Modern Vaccine”
The United States Food and Drug Administration (FDA) released a review that the new vaccine against coronavirus infection (Corona 19) developed by the pharmaceutical company Modena this morning is effective. Accordingly, it is anticipated that if FDA’s advisory body, the Vaccines and Biological Drugs Advisory Committee (VRBPAC), recommends the urgent use of modders or vaccines at a meeting on the 17th, the FDA will give final approval on the 18th. In this case, the United States is expected to be the first case, as no country has yet approved the emergency use of modders or vaccines. If the FDA approves the Modena vaccine for emergency use, it will be the second vaccine available in the United States after last week’s Pfizer vaccine. The Modena vaccine, like Pfizer, requires two doses to have normal immunity. The FDA found that participants who received just one dose of this vaccine were 80.2% effective.
◆ Even today, the cold weather travel nationwide
Today, Wednesday, cold weather will hit the entire country, with temperatures below -10 degrees Celsius. The wind is strong, so the temperature feels even lower. The highest temperature was predicted to be minus 4 degrees. It shows freezing temperatures even during the day, and the cold is expected to continue. A cold snap warning was issued in central and inland Gyeongbuk areas, and a cold snap warning was in effect in the northern part of Gyeonggi and Gangwon-yeongseo province, and in North Gyeongsang province. While the entire country is generally clear, Chungnam, Jeolla-do and Jeju-do will be cloudy. Snow will fall on the west coast of Jeolla and the mountains of Jeju Island until tomorrow morning. The fine dust concentration will show “good” levels in all areas. Seoul, Gyeonggi-do, Yeong-dong, Gangwon, eastern Jeollanam-do and Gyeongsang-do, where drying warnings went into effect, will be very dry.
Until now, I have been a reporter for Noh Jeong-dong at Hankyung.com.
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