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On Wednesday (30) the non-agricultural small data data is expected to be better, and the new stimulus law is expected to be fulfilled, which will cause US stocks to rise in early trading. Financial stocks, cruise lines and other stocks sensitive to the economic recovery led the increase. Dow Jones once rose more than 500 points.
However, the news of the failure of the negotiations between the two parties was known in the last hours of trading, the four main US stock indexes lost gains and the Dow Jones closed with more than 300 points.
US stocks marked the beginning of their first monthly decline since March. The main reason was that technology stocks led a liquidation correction in early September. The S&P fell 3.9% monthly, while the Dow Jones and Nasdaq fell 2.3% and 5.2%, respectively, this month.
House Speaker Pelosi and Finance Minister May Mnuchin negotiated a new $ 2.2 trillion stimulus bill on Wednesday. Mennuchin released Lido before the talks and plans to reach a final agreement with Pelosi before Thursday to pass the fifth round of stimulus bills, but after the talks, Pelosi said the two sides could not reach a consensus. .
With 34 days to go in the US presidential election, the first debate between President Trump and Democratic candidate Biden on Tuesday will be a “messy meeting.”
The US Presidential Debate Committee (CPD) announced Wednesday that it will adopt a new technique to prevent the two people from stepping in and fighting each other. According to sources, the organizers are considering the strategy of closing wheat.
The global epidemic of new corona pneumonia (COVID-19) continues to spread. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 33.7 million and the number of deaths has exceeded one million. The United States has confirmed more than 7.19 million cases and the cumulative number of deaths has exceeded 206,000.
The performance of the four major US stock indices on Wednesday (30):
- The Dow Jones Index rose 329.04 points, or 1.20%, to close at 27,781.70 points.
- The S&P 500 Index rose 27.53 points, or 0.83%, to close at 3,363.00 points.
- The Nasdaq index rose 82.26 points, or 0.74%, to close at 11,167.51 points.
- The Philadelphia Semiconductor Index rose 1.60 points, or 0.071%, to close at 2,244.12 points.
Only Alphabet’s top five tech giants closed lower. Apple (AAPL-US) was up 1.51%; Microsoft (MSFT-US) was up 1.48%; Amazon (AMZN-US) was up 0.12%; Alphabet (GOOGL-US) fell 0.029%; Facebook (FB-US) was up 0.042%.
Shares of the Dow Jones component received more dividends. American Express (AXP-US) rose 2.56%; Amgen (AMGN-US) was up 2.36%; United Health (UNH-US) was up 2.51%; Goldman Sachs (GS-US) rose 2.12%; Home Depot (HD-US) rose 2.06%.
Fei’s semi-constituent stocks are the worst performers at Micron. Micron (MU-US) fell 7.39%; AMD (AMD-US) was up 0.27%; Intel (INTC-US) rose 1.15%; NVIDIA (NVDA-US) was up 2.30%; Qualcomm (QCOM-US) was up 0.26%.
Chunghwa Telecom is the only weakest in Taiwan’s ADR. UMC ADR (UMC-US) rose 1.27%; TSMC ADR (TSM-US) rose 0.70%; ASE ADR (ASX-US) rose 1.49%; Chunghwa Telecom ADR (CHT-US) fell 1.92%.
Featured Stock News
Moderna (MRNA-US) was up 0.33%. The company’s first human test results showed that its vaccine would produce antibodies in the elderly. The price of their shares rose dramatically in the first trades. However, the CEO of the company announced that the delivery of the vaccine before the elections in the US The increase in its share price then converged.
Data analytics company Datadog announced a new strategic partnership with Microsoft Azure cloud computing service, and Datadog (DDOG-US) shares soared 12.36%.
Investment bank KeyBanc’s research report noted that Micron’s financial report beat expectations, but the financial forecast information was mixed, in part because Micron no longer supplies Huawei and Micron’s share price fell 7, 39% on Wednesday.
Economic data
- The US September ADP added 749,000 new jobs, which is expected to be 650,000. The previous value rose from 428,000 to 481,000
- The final value of the quarterly growth rate of real GDP in the United States in the second quarter reported -31.4%, expected -31.6%, previous value -31.7%
- Final US Q2 Core PCE Quarterly Growth Rate Final Value Reported: 0.8%, Expected 1.0%, Previous Value 1.0%
- US September Chicago PMI reported 62.4, expected 52.0, previous value 51.2
Wall Street Analysis
British research institute Pantheon Macroeconomics said we expect non-farm employment announced on Friday to increase by 950,000, slightly below the 1.027 million in August and 1.481 million in July. However, considering the deviation between ADP and official data, this is far from certain.
Daniel Deming, managing director of KKM Financial, said Tuesday’s first debate brought a long night and there were many issues to be resolved. Obviously, many problems will not end after the general election on November 3, and the pressure of short-term volatility may not abate anytime soon. , Brings more uncertainty.
Raymond James analyst Ed Mills said that (Trump) raised the issue of voter fraud, which will make people more concerned that if the election results are close or uncertain, the post-election period will be more turbulent.
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